Following anticipated completion in late 2009, the upgrades at the 54-story, 2+ million-square-foot tower will elevate the building to "best of class" status.  1515 Broadway is located in world famous Times Square between West 44th and 45th Streets,

The most striking feature of the comprehensive renovation, which stands to significantly transform the tower's appearance, will be a 42-foot vertical extension of the curtain wall atop the base floors and re-cladding of all exterior limestone surfaces with new brushed aluminum panels.

"One of our goals is to enhance the building's imposing street stance, and articulate its most impressive features, namely the distinctive crown and corner fins, which are so prominently visible on the City skyline," said Steven Durels, SL Green Executive Vice President and Director of Leasing and Real Property.

 The plan also features a complete lobby redesign with 5,000 square feet of custom art glass wrapping the core walls; new elevator cabs; new common corridors and bathrooms.  Additionally there will be significant infrastructure improvements that include increased electric capacity; HVAC upgrades; plumbing and fire protection improvements; and the addition of a new freight elevator serving the lower portion of the building.  The redevelopment will include a silver LEED rating for energy efficiency.

"Building upon our track record of successful redevelopments, we have assembled a team of professionals with whom we will collaborate to ensure this renovation is commensurate with the prestige of the property's strategic visibility," said Edward Piccinich, Executive Vice President and Director of Management and Construction, who announced that the architect is Kone Pederson Fox, the construction manager is Tishman Construction and the engineers are Flack & Kurtz.

Acquired by SL Green in 2002, 1515 Broadway was among the skyscrapers that pioneered the transformation of Times Square to one of the City's foremost office locations.  Viacom is 1515 Broadway's anchor tenant, occupying 1.3 million square feet.

About SL Green Realty Corp.

SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages Manhattan office properties. The Company is the only publicly held REIT that specializes in this niche. As of June 30, 2008, the Company owned 30 New York City office properties totaling approximately 23,719,200 square feet, making it New York's largest office landlord. In addition, SL Green holds investment interests in, among other things, eight retail properties encompassing approximately 400,212 square feet, two development properties encompassing approximately 363,000 square feet and two land interests, along with ownership interests in 36 suburban assets totaling 7,867,500 square feet in Brooklyn, Queens, Long Island, Westchester County, Connecticut and New Jersey.

Occupancy rates for SL Green's Manhattan portfolio actually rose slightly from 96.3%, in the first quarter to 96.7% in the second.  Among the major transactions for the first half of 2008 were:

• The Segal Company's new lease for 156,000 square feet at 333 West 34th Street;
• Crain Communications, Inc.'s early renewal for 98,618 square feet at 711
• Third Avenue;
• Parade Publications, Inc.'s early renewal for 89,413 square feet at 711 Third Avenue;
• News America, Inc.'s new lease for 83,822 square feet at 1185 Avenue of the Americas;
• Omnicom Group's early renewal for 55,078 square feet at 220 East 42nd Street;
• Sirius Satellite Radio Inc.'s new lease for 45,295 square feet at 1221 Avenue of the Americas;
• New York University Hospital Center's new lease for 43,895 square feet at 673 First Avenue;
• Sonnenschein, Nath & Rosenthal's new lease for 43,828 square feet at 1221 Avenue of the Americas;
• RSM McGladrey, Inc.'s new lease for 27,508 square feet at 1185 Avenue of the Americas;
• Hess Corp.'s early renewal for 27,508 square feet at 1185 Avenue of the Americas.

"Leasing velocity at our Manhattan buildings has kept apace with previous years, and even exceeded expectations, given the current economic downturn," noted Steven Durels, SL Green Executive Vice President and Director of Leasing and Real Property.   "We are cautiously optimistic that we will be able to maintain this leasing momentum for the second half of the year."

SL Green is well underway with comprehensive redevelopment programs launched this year for several of its prominent Manhattan properties, namely:  an ambitious $160 million renovation of 1515 Broadway, occupied almost completely by Viacom, which will reposition the 54-story tower as one of the most iconic buildings in Times Square; a $7 million renovation of 711 Third Avenue; and a $10 million capital improvement program at 810 Seventh Avenue.