NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, today announced that, together with its joint venture partner, it has closed on a modification and extension of the mortgage on 220 East 42nd Street. The modification included a paydown of the principal balance by $9.0 million to $496.4 million and extended the maturity date by more than three years from July 2024 to December 2027. The interest rate was maintained at 2.75% over term SOFR, which the joint venture fixed at 6.77% through the maturity date. "This extension further emphasizes our strong relationships with the lending community and the confidence lenders have in fortress Manhattan office properties," said Harrison Sitomer, Chief Investment Officer of SL Green. Also known as The Daily News Building, 220 East 42nd Street is a 37-story art-deco skyscraper designed by Raymond Hood and John Mead Howells. Currently 91% occupied, ...