Hyundai Motor Group has appointed SL Green Realty Corp. to lead leasing and asset management at 15 Laight St., a newly constructed boutique office property in Tribeca totaling 109,000 square feet. The assignment covers the launch of leasing efforts for the building, which is owned by Hyundai Motor Group and positioned as an office option for prospective tenants in the Tribeca submarket.
The engagement is tied to an investment made through an affiliate of SL Green’s $1.3 billion debt fund. In connection with that investment, SL Green’s third-party asset management platform, Green Property Services, has been retained by Hyundai Motor Group to provide comprehensive leasing and asset management services at 15 Laight St. The mandate brings together SL Green’s credit platform and its operational capabilities at the property level.
Harrison Sitomer, president and CIO of SL Green, said the collaboration underscores Hyundai Motor Group’s confidence in the firm’s ability to help realize the potential of 15 Laight St. Sitomer noted that SL Green is combining its credit capabilities with its leasing and operating expertise to deliver an integrated solution for Hyundai Motor Group while working to create value in the building for future office tenants.
CBRE Group advised Hyundai Motor Group in the arrangement, with Doug Middleton of CBRE representing the ownership. On the leasing side, responsibilities will be shared between SL Green and CBRE. Leasing at 15 Laight St. will be overseen by Steven Durels of SL Green and Ryan Alexander of CBRE, aligning in-house ownership representation with third-party brokerage to bring the newly delivered asset to market.
The collaboration at 15 Laight St. reflects Hyundai Motor Group’s use of both a dedicated debt fund relationship and a specialized asset management platform to support its boutique office investment in Tribeca, while also leveraging CBRE’s advisory and leasing capabilities. Photo credit for the property image is attributed to Gensler, as noted in the original source material.
