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SL Green Realty Sees 'Minimal Damage' Following Sandy

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SL Green Realty Corp. (NYSE: SLG) has issued the following statement:

Initial assessments have identified minimal damage, if any, at most properties in SL Green's New York City portfolio.

The most impacted property is 180 Maiden Lane, located in Zone A, which experienced heavy flooding. SL Green engineers and other professionals are working to remove the remaining water in the building's basement and to restore operating systems as soon as possible. Four other buildings owned and managed by the Company remain without power from Con Ed. Those buildings are 100 Church Street, 641 Sixth Avenue, 304 Park Avenue South, and 673 First Avenue.

The Company carries comprehensive property, casualty and flood insurance and full coverage of losses is anticipated.

SL Green's offices are open today. The Company will continue to monitor the portfolio for any further developments

Posted-In: News

 

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