SL Green secured an asset‑management assignment for 15 Laight Street, a 109,000‑square‑foot boutique office building in Tribeca owned by Hyundai Motor Group. The assignment will be executed through SL Green’s Green Property Services platform, which will handle leasing and operating services for the property.
The deal follows an investment made through an affiliate of SL Green’s $1.3 billion debt fund, which closed in December 2025. The assignment underscores the company’s strategy to combine credit capabilities with leasing expertise to generate value for high‑quality assets.
15 Laight Street offers tenants boutique office space with extensive outdoor terraces, oversized windows, and a curated amenity program, and is available for immediate occupancy. Hyundai Motor Group purchased the building in February 2023 for $247 million to $275 million, but the property remained 100 % vacant as of March 17 2026, prompting the shift to leasing.
The assignment expands SL Green’s presence in the highly sought‑after Tribeca and Hudson Square submarkets, where vacancy rates were 15.7 % at the end of Q1 2026 and high‑quality office supply remains constrained. “Tribeca and Hudson Square are home to some of Manhattan’s most active creative, technology and media tenants, yet high‑quality office supply remains meaningfully constrained,” said Steven Durels, Executive Vice President and Director of Leasing.
“15 Laight Street is a genuinely one‑of‑a‑kind building with the abundant outdoor space, distinctive architectural design and best‑in‑class workplace quality that today’s most discerning tenants are seeking,” Durels added. “We are bringing it to market at exactly the right moment.” Harrison Sitomer, President and Chief Investment Officer, added that the partnership reflects Hyundai’s trust in SL Green and that the company is combining credit capabilities with leasing and operating expertise to create value for prospective tenants.
The assignment is part of SL Green’s broader platform strategy, which focuses on opportunistic real‑estate investments and asset‑management services to capture demand from technology, finance and media tenants increasingly returning to office space.
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