NEW YORK, April 24 /PRNewswire/ -- SL Green Realty Corp. (NYSE: SLG)
announced today that it has contracted separately to acquire 440 Ninth Avenue
and 38 East 30th Street, both in Manhattan, as well as 116 Nassau Street
located in downtown Brooklyn -- all three office buildings are owned by
affiliates of Murray Hill Properties.  SL Green is currently the leasing agent
for all three of the buildings.
    This acquisition follows the Company's December 1997 purchase of a 41,000
square foot retail condominium unit at 633 Third Avenue -- a property which
was also previously owned by Murray Hill Properties.
    The properties, which comprise a combined total of 531,000 square feet of
office and retail space, are being purchased for $51.5 million, including
closing costs.  This represents a purchase price of less than $100 per square
foot.
    The 18-story, 340,000 square foot property at 440 Ninth Avenue is situated
at 35th Street and Ninth Avenue, in the heart of the redeveloping Pennsylvania
Station area.  The building is currently 75% leased, with major tenants
including Duane Reade, Holmes Protection and Self-Help Community Services,
Incorporated.
    The 12-story, 91,000 square foot building at 38 East 30th Street, located
in the Park Avenue South/Flatiron District, is currently 93% leased, with the
only vacancy being 6,000 square feet of space on the ground floor.  The main
tenant in the building is Color By Pergament, which has a long-term lease on
36,000 square feet.
    The 100,000 square foot, 7-story building at 116 Nassau Street is located
in the heart of downtown Brooklyn, equidistant from the entrances to the
Brooklyn and Manhattan Bridges, which provides for immediate access to
Manhattan's Financial District and the FDR Drive.  The property is presently
100% leased by two tenants -- The Board of Education of the City of New York
and Federation Employment Guidance Services.
    Subsequent to the acquisition, SL Green's portfolio consists of 18
properties, encompassing approximately 5.5 million rentable square feet.
    SL Green Realty is a fully integrated, self-administered and self-managed
real estate investment trust ("REIT") which primarily owns, manages, leases,
acquires and repositions Class B office properties in Manhattan.
    This press release contains forward-looking information based upon the
Company's current best judgment and expectations.  Actual results could vary
from those presented herein.  The risks and uncertainties associated with the
forward-looking information include the strength of the commercial office real
estate market, competitive market conditions, general economic growth,
interest rates and capital market conditions.  For further information, please
refer to the Company's filings with the Securities and Exchange Commission.

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