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Stephen L. Green

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Stephen L. Green

Stephen L. Green (born 1938) is founder and Chairman of SL Green Realty Corp., which claims to be Manhattan’s largest owner of office buildings.

Early life and education

Green lived in Bensonhurst until he was ten and then moved to Long Island, first to Elmont, New York and later Great Neck, New York. His parents were Republicans. His father was a lawyer and apartment landlord. His mother was a public school teacher. He has one brother, seven years his junior, former New York City Public Advocate Mark J. Green.[1]

Green received a BA from Hartwick College in 1959, and a JD from Boston College Law School in 1962. Green worked as an attorney for several years before starting an import-export firm specializing in the sale of hair products from Asia. He later sold that business and started a travel company that chartered airliners and sold ski vacations in the American West and Europe. Giving this up, invested in waterfront property in Siesta Key, Florida. and developed real estate,[1] but eventually returned to New York City where he started investing in loft buildings.

Career

In 1980, Green formed SL Green Properties, Inc.[2] His strategy was to buy Class B office buildings, invest some money to redo their lobbies, facades and add other amenities and then raise the rents closer to Class A levels as older tenants moved out.[1] This strategy was successful and SL Green Realty Corp. went public in 1997 trading on the New York Stock Exchange under the stock ticker of SLG. The company was the first REIT to be focused solely on Manhattan office properties. According to the SL Green Realty Corp. website, the company has investment interests in 77 Manhattan office buildings comprising nearly 40 million square feet of space.[3]

In 2007 he bought Air America radio network and installed his brother Mark as President.[4][5]

Personal life

Green is married to Nancy Peck who runs Nancy Peck & Co, which specializes in being an "office watchdog" during construction/refurbishment. He has three sons, Daniel, Gary, and Scott Green. Nancy has a son, Jonathan Peck.[6][7]

Being of Jewish descent, Green participated in the 1985 and 1989 Maccabiah Games in Israel, winning a bronze medal in squash in 1985. He endows the SL Green National Open Squash Championships for U.S. Squash.

Philanthropy

Green made the lead gift toward fundraising efforts for the $9 million, 20,000-square-foot (1,900 m2) SL Green StreetSquash Center on West 115th Street in Harlem, which opened in 2008.[8][9]

References

  1. ^ a b c New York Times: "Different Lives, Different Politics, But Greens Unite in Mayor's Race" By ERIC LIPTON August 13, 2001
  2. ^ Leaders Magazine: "An Interview with Stephen L. Green, Chairman of the Board, SL Green Realty Corp." October, November, December, 2012
  3. ^ Stephen L. Green - Slgreen.com
  4. ^ SL Green chairman's latest acquisition Not a building, but Air America Radio! January 29, 2007
  5. ^ New York Times: "Air America to Be Acquired by New York Investor" By LOUISE STORY January 30, 2007
  6. ^ Article at Bookrags
  7. ^ Article at Encyclopedia.com
  8. ^ SL Green StreetSquash Center to Open in Harlem - November 19, 2008
  9. ^ Grand Opening of the SL Green StreetSquash Center –November 20, 2008

External links

  • Stephen L. Green Biography from SL Green Realty Corp.
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