SL Green CEO Marc Holliday Teases 800,000-Square-Foot Office Tower in the Works for Former Brooks Brothers Site on Madison Avenue

SL Green, under the leadership of CEO Marc Holliday, is making moves to develop an 800,000-square-foot office tower on Madison Avenue. The real estate firm is in contract to purchase the former home of Brooks Brothers for $160 million, according to sources.

The property, located just a short walk from Grand Central Terminal at East 44th Street, presents a prime opportunity for a large-scale development. Holliday has been vocal about his determination to secure a major development site this year, ever since he first announced the plan at the company's investor day in December.

"It's among the highest priorities of things we're working on right now," Holliday stated. This move comes as no surprise, as SL Green has been actively expanding its portfolio in recent years, including the development of One Vanderbilt, a 1.7 million-square-foot office tower.

The acquisition of the former Brooks Brothers site further solidifies SL Green's presence in the highly desirable Midtown East neighborhood. The company has its sights set on creating a premier office tower that will attract top tenants.

"We are excited to have an opportunity to develop a trophy office tower in the heart of Midtown East," Holliday said in a statement. "It's a prime location with excellent transit access, and we believe it will be a highly desirable destination for businesses looking for a top-of-the-line office space."

While the deal has not yet closed, Holliday's confidence in securing the site signals a major win for SL Green. The