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Financial and Operating Highlights

Net income attributable to common stockholders of $1.01 per share for the third quarter of 2026 as compared to net income of $0.34 per share for the same period in 2025.Funds from operations ("FFO") of $1.59 per share for the third quarter of 2026 as compared to FFO of $1.58 per share for the same period in 2025.The Company is increasing its previously announced 2026 FFO guidance range for the year ending December 31, 2026 from $5.60-$5.90 per share to $6.50-$6.70 per share, which reflects $1.10 per share of incremental income from the sale of a 20% joint venture interest in an entity related to the Company's food and beverage hospitality operations, offset by $0.25 per share attributable to the higher interest rate environment. The Company is also increasing its previously announced 2026 net income guidance range from $0.20-$0.50 per share to $0.40-$0.60 per share. Signed 38 Manhattan office leases totaling 591,108 square feet in the third quarter of 2026 and 142 Manhattan office leases totaling 1,965,533 square feet for the first nine months of 2026. The mark-to-market on signed Manhattan office leases was 13.6% higher for the third quarter and 15.7% higher for the first nine months than the previous fully escalated rents on the same spaces.Manhattan same-store cash NOI, including the Company's share of same-store cash NOI from unconsolidated joint ventures, increased 5.0% for the third quarter of 2026 and 4.2% for the first nine months of 2026, excluding lease termination income, as compared to the same periods in 2025.Manhattan same-store office occupancy increased to 95.0% as of September 30, 2026, inclusive of leases signed but not yet commenced. Investing Highlights

Entered into a contract to sell 110 Greene Street for total consideration of $226.0 million. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions, and generate approximately $216.0 million of net cash proceeds.Closed on the previously announced sale of 10 East 53rd Street for total consideration of $312.2 million. The Company received net cash proceeds of $99.0 million.Deployed $100.7 million of the $1.3 billion SLG Opportunistic Debt Fund (the "Fund") during the third quarter and $359.0 million to date in 2026, bringing total Fund deployment to $643.1 million, of which $528.8 million has been funded, and $18.9 million of which has since been repaid.In October, closed on the sale of a 20% joint venture interest in an entity related to the Company's food and beverage hospitality operations at a gross valuation of $200.0 million. The transaction generated proceeds to the Company of $40.0 million.In October, closed on the sale of the 26,000 square foot office condominium at 185 Broadway for $9.0 million. The Company received net cash proceeds of $8.7 million.     Financing Highlights

In October, together with our joint venture partner, closed on a $2.0 billion refinancing of 245 Park Avenue. The five-year, fixed-rate financing was priced at a spread of 147 basis points above the U.S. Treasury index, resulting in an interest rate of 6.52%. SL Green hedged its share of the financing to an effective interest rate of 6.37%. NEW YORK, Oct. 21, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (the "Company") (NYSE: SLG) today reported net income attributable to common stockholders for the quarter ended September 30, 2026 of $72.2 million, or $1.01 per share, as compared to net income of $24.9 million, or $0.34 per share, for the same period in 2025.

The Company reported net loss attributable to common stockholders for the nine months ended September 30, 2026 of $38.7 million, or $0.56 per share, as compared to net loss of $7.3 million, or $0.12 per share, for the same period in 2025.

The Company reported FFO for the quarter ended September 30, 2026 of $122.1 million, or $1.59 per share, as compared to FFO of $120.4 million, or $1.58 per share, for the same period in 2025.

The Company reported FFO for the nine months ended September 30, 2026 of $296.3 million or $3.85 per share as compared to FFO of $351.4 million, or $4.60 per share, for the same period in 2025, which included $71.6 million, or $0.94 per share, of income, excluding interest income, related to the repayment of the commercial mortgage investment at 522 Fifth Avenue.

All per share amounts are presented on a diluted basis.

Operating and Leasing Activity

Manhattan same-store cash NOI, including the Company's share of same-store cash NOI from unconsolidated joint ventures, increased by 5.0% for the third quarter of 2026 and 4.2% for the first nine months of 2026, excluding lease termination income, as compared to the same periods in 2025.

During the third quarter of 2026, the Company signed 38 office leases in its Manhattan office portfolio totaling 591,108 square feet. The average rent on the Manhattan office leases signed in the third quarter of 2026 was $105.75 per rentable square foot, with an average lease term of 10.7 years and average tenant concessions of 8.2 months of free rent with a tenant improvement allowance of $85.20 per rentable square foot. Twenty-eight leases comprising 449,076 square feet, representing office leases on space that had been occupied within the prior twelve months, are considered replacement leases on which mark-to-market is calculated. Those replacement leases had average starting rents of $110.88 per rentable square foot, representing a 13.6% increase over the previous fully escalated rents on the same office spaces.

During the nine months ended September 30, 2026, the Company signed 142 office leases in its Manhattan office portfolio totaling 1,965,533 square feet. The average rent on the Manhattan office leases signed in 2026 was $102.61 per rentable square foot with an average lease term of 9.1 years and average tenant concessions of 8.6 months of free rent with a tenant improvement allowance of $89.88 per rentable square foot. Ninety-four leases comprising 1,424,546 square feet, representing office leases on space that had been occupied within the prior twelve months, are considered replacement leases on which mark-to-market is calculated. Those replacement leases had average starting rents of $109.99 per rentable square foot, representing a 15.7% increase over the previous fully escalated rents on the same office spaces.

Occupancy in the Company's Manhattan same-store office portfolio increased to 95.0% as of September 30, 2026, inclusive of leases signed but not yet commenced, as compared to 92.9% at the end of 2025.

Significant leasing activity in the third quarter includes:

New lease with Legora, Inc. for 98,420 square feet at 11 Madison Avenue;Early renewal with IMG Worldwide LLC for 90,202 square feet at 304 Park Avenue South;New lease with Landesbank Baden-Württemberg for 58,332 square feet at 1185 Avenue of the Americas;New lease with Nearwater Management, LLC for 37,563 square feet at 245 Park Avenue;New expansion lease with Greenberg Traurig LLP for 33,477 square feet at One Vanderbilt Avenue;New lease with OceanSound Partners, LP for 32,032 square feet at 450 Park Avenue;Early renewal with Haworth, Inc. for 30,365 square feet at 125 Park Avenue. Earnings Guidance

The Company is increasing its previously announced 2026 FFO guidance range for the year ending December 31, 2026 from $5.60-$5.90 per share to $6.50-$6.70 per share, which reflects $1.10 per share of incremental income from the sale of a 20% joint venture interest in an entity related to the Company's food and beverage hospitality operations, offset by $0.25 per share attributable to the higher interest rate environment. The Company is also increasing its previously announced 2026 net income guidance range from $0.20-$0.50 per share to $0.40-$0.60 per share.

Investment Activity

In September, the Company entered into a contract to sell 110 Greene Street for total consideration of $226.0 million. The transaction, which is expected to close in the fourth quarter of 2026, subject to customary closing conditions, will generate net cash proceeds to the Company of approximately $216.0 million that will be used for corporate debt repayment.

In August, the Company closed on the previously announced sale of 10 East 53rd Street for total consideration of $312.2 million. The Company received net cash proceeds of $99.0 million.

During the third quarter, the Company deployed $100.7 million of the $1.3 billion Fund and $359.0 million to date in 2026, bringing total Fund deployment to $643.1 million, of which $528.8 million has been funded, and $18.9 million of which has since been repaid.

In October, the Company closed on the sale of a 20% joint venture interest in an entity related to the Company's food and beverage hospitality operations, at a gross valuation of $200.0 million. The transaction generated proceeds to the Company of $40.0 million.

In October, the Company closed on the sale of the 26,000 square foot office condominium at 185 Broadway for $9.0 million. The Company received net cash proceeds of $8.7 million.

Financing Activity

In October, the Company and its joint venture partner closed on a $2.0 billion refinancing of 245 Park Avenue. The five-year, fixed-rate financing was priced at a spread of 147 basis points above the U.S Treasury index, resulting in an interest rate of 6.52%. SL Green hedged its share of the financing to an effective interest rate of 6.37%. The single-asset, single-borrower (SASB) CMBS execution was agented by world-class institutions led by JPMorgan Chase Bank, N.A., with participation from Bank of America, Deutsche Bank, Bank of Montreal, Goldman Sachs, Société Générale and Citibank. The new financing replaces the property's previous $1.768 billion of mortgage and mezzanine financing.

Institutional Investor Conference

The Company will host its Annual Institutional Investor Conference on Monday, December 7, 2026 beginning at 9:00 a.m. ET. The event will be held in-person, by invitation only. The presentation will be available online via audio webcast, in listen-only mode, and the accompanying presentation materials can be accessed in the Investors section of the SL Green Realty Corp. website at www.slgreen.com on the day of the conference. An audio replay of the presentation will be available in the Investors section of the SL Green Realty Corp. website following the conference.

For more information about the event, please email [email protected]. 

Dividends

In the third quarter of 2026, the Company declared:

A quarterly ordinary dividend on its outstanding common stock of $0.6175 per share, which was paid in cash on October 15, 2026, and is the equivalent of an annualized dividend of $2.47 per share;A quarterly dividend on its outstanding 6.50% Series I Cumulative Redeemable Preferred Stock of $0.40625 per share for the period July 15, 2026 through and including October 14, 2026, which was paid in cash on October 15, 2026, and is the equivalent of an annualized dividend of $1.625 per share. Conference Call and Audio Webcast

The Company's executive management team, led by Marc Holliday, Chairman and Chief Executive Officer, will host a conference call and audio webcast on Thursday, October 22, 2026, at 2:00 p.m. ET to discuss the financial results.

Supplemental data will be available prior to the quarterly conference call in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under “Financial Reports.”

The live conference call will be webcast in listen-only mode and a replay will be available in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under “Presentations & Webcasts.”

Research analysts who wish to participate in the conference call must first register at https://register-conf.media-server.com/register/BI6e8d3796e9b044fbb7f0dca147720564.

Company Profile

SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties. As of September 30, 2026, SL Green held interests in 53 buildings totaling 30.3 million square feet, which included ownership interests in 28.9 million square feet and 1.4 million square feet securing debt and preferred equity investments, excluding fund investments, and managed 5 buildings totaling 1.3 million square feet owned by third parties.

To obtain the latest news releases and other Company information, please visit our website at www.slgreen.com or contact Investor Relations at [email protected]. 

Disclaimers

Non-GAAP Financial Measures
During the quarterly conference call, the Company may discuss non-GAAP financial measures as defined by SEC Regulation G. In addition, the Company has used non-GAAP financial measures in this press release. A reconciliation of each non-GAAP financial measure and the comparable GAAP financial measure can be found in this release and in the Company’s Supplemental Package.

Forward-looking Statements
This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as our earnings guidance, future capital expenditures, dividends, acquisitions and dispositions (including the amount and nature thereof and the expected timing, closing and use of proceeds of pending dispositions), financing and refinancing transactions and hedging activities, development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," “target,” “plan,” “guidance,” “outlook,” or the negative of these words, or other similar words or terms.

Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.

PRESS CONTACT
[email protected]  

SL GREEN REALTY CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited and in thousands, except per share data)
     Three Months Ended Nine Months Ended September 30, September 30,Revenues:
 2026   2025   2026   2025        Rental revenue, net$165,552  $149,672  $503,393  $441,725 Escalation and reimbursement revenues 20,381   18,864   61,298   55,067 SUMMIT Operator revenue 34,655   32,883   90,306   86,424 Investment income 2,615   4,356   7,618   26,809 Interest income from real estate loans held by consolidated securitization vehicles 14,687   10,838   44,079   47,868 Fee income 30,596   23,296   70,037   47,787 Other income 4,539   4,908   13,375   20,899 Total revenues 273,025   244,817   790,106   726,579 Expenses:       Operating expenses, including related party expenses of $0 and $6 in 2026 and $6 and $9 in 2025 58,700   57,673   180,407   164,840 Real estate taxes 42,190   37,627   126,537   112,594 Operating lease rent 6,898   6,106   20,740   18,317 SUMMIT Operator expenses 42,936   35,959   93,398   82,570 Interest expense, net of interest income 50,026   47,235   154,946   138,234 Amortization of deferred financing costs 2,480   1,724   7,438   5,153 SUMMIT Operator tax expense 616   1,279   2,424   2,781 Interest expense on senior obligations of consolidated securitization vehicles 14,687   10,838   44,079   45,827 Depreciation and amortization 63,629   63,216   200,659   187,874 Loan loss and other investment reserves, net of recoveries —   —   —   (71,326)Transaction related costs 228   13,129   529   13,601 Marketing, general and administrative 23,253   23,701   68,820   67,004 Total expenses 305,643   298,487   899,977   767,469         Equity in net income (loss) from unconsolidated joint ventures 26,692   (9,287)  20,860   (30,892)Income from debt fund investments, net 2,166   1,176   10,634   1,776 Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate —   86,872   (814)  84,926 Purchase price and other fair value adjustments 4,261   11,138   14,106   (8,090)Gain (loss) on sale of real estate, net 91,445   (1,068)  103,902   (1,717)Depreciable real estate reserves (2,275)  —   (37,435)  (8,546)Gain on sale of marketable securities —   —   —   10,232 Net income 89,671   35,161   1,382   6,799 Net income (loss) attributable to noncontrolling interests:       Noncontrolling interests in the Operating Partnership (5,797)  (1,737)  3,036   503 Noncontrolling interests in other partnerships (5,688)  (2,658)  (25,194)  3,079 Preferred units distributions (2,256)  (2,154)  (6,713)  (6,461)Net income (loss) attributable to SL Green 75,930   28,612   (27,489)  3,920 Perpetual preferred stock dividends (3,738)  (3,738)  (11,213)  (11,213)Net income (loss) attributable to SL Green common stockholders$72,192  $24,874  $(38,702) $(7,293)Earnings Per Share (EPS)       Basic earnings (loss) per share$1.01  $0.35  $(0.56) $(0.12)Diluted earnings (loss) per share$1.01  $0.34  $(0.56) $(0.12)        Funds From Operations (FFO)       Basic FFO per share$1.63  $1.62  $3.93  $4.72 Diluted FFO per share$1.59  $1.58  $3.85  $4.60         Basic ownership interest       Weighted average REIT common shares for net income per share 70,441   70,443   70,598   70,435 Weighted average partnership units held by noncontrolling interests 4,610   3,875   4,814   3,998 Basic weighted average shares and units outstanding  75,051   74,318   75,412   74,433         Diluted ownership interest       Weighted average REIT common share and common share equivalents 71,967   72,553   72,189   72,442 Weighted average partnership units held by noncontrolling interests 4,610   3,875   4,814   3,998 Diluted weighted average shares and units outstanding  76,577   76,428   77,003   76,440          SL GREEN REALTY CORP.
CONSOLIDATED BALANCE SHEETS
(unaudited and in thousands, except per share data)
     September 30, December 31,  2026   2025 Assets   Commercial real estate properties, at cost:   Land and land interests$1,534,127  $1,699,215 Building and improvements 4,068,129   4,012,305 Building leasehold and improvements 1,496,428   1,448,112   7,098,684   7,159,632 Less: accumulated depreciation (2,333,095)  (2,306,377)  4,765,589   4,853,255 Assets held for sale 224,249   — Cash and cash equivalents 186,439   155,747 Restricted cash 199,507   180,748 Investment in marketable securities 21,166   23,666 Tenant and other receivables 64,072   45,524 Related party receivables 17,195   16,293 Deferred rents receivable 255,497   266,678 Debt and preferred equity investments, net of discounts and deferred origination fees of $2 and $14 in 2026 and 2025, respectively, and allowances of $300 and $454 in 2026 and 2025, respectively 113,087   168,358 Investments in unconsolidated joint ventures 2,886,984   2,819,778 Debt fund investments, at fair value 434,219   152,958 Deferred costs, net 121,668   129,019 Right-of-use assets - operating leases 940,495   864,430 Real estate loans held by consolidated securitization vehicles, at fair value 1,003,918   1,023,877 Other assets 551,576   577,299  Total assets$11,785,661  $11,277,630     Liabilities   Mortgages and other loans payable$2,216,799  $2,154,499 Revolving credit facility 930,000   640,000 Unsecured term loan 1,150,000   1,150,000 Deferred financing costs, net (29,965)  (13,063)Total debt, net of deferred financing costs 4,266,834   3,931,436 Accrued interest payable 17,016   15,221 Accounts payable and accrued expenses 142,846   134,621 Deferred revenue 158,252   147,419 Lease liability - financing leases 109,182   108,183 Lease liability - operating leases 886,515   805,192 Dividend and distributions payable 48,910   2,536 Security deposits 66,859   68,276 Liabilities related to assets held for sale 866   — Junior subordinate deferrable interest debentures held by trusts that issued trust preferred securities 100,000   100,000 Senior obligations of consolidated securitization vehicles, at fair value 1,003,918   1,023,877 Other liabilities (includes $166,736 and $244,941 at fair value as of September 30, 2026 and December 31, 2025, respectively) 513,358   587,779  Total liabilities 7,314,556   6,924,540     Commitments and contingencies   Noncontrolling interests in Operating Partnership 273,718   241,371 Preferred units and redeemable equity 203,508   199,271     Equity   SL Green stockholders' equity:   Series I Preferred Stock, $0.01 par value, $25.00 liquidation preference, 9,200 and 9,200 issued and outstanding at both September 30, 2026 and December 31, 2025 221,932   221,932 Common stock, $0.01 par value 160,000 shares authorized, 70,945 and 71,159 issued and outstanding at September 30, 2026 and December 31, 2025, respectively 708   711 Additional paid-in capital 4,213,109   4,212,590 Accumulated other comprehensive income (loss) 28,201   (22,198)Retained deficit (964,016)  (741,880)Total SL Green Realty Corp. stockholders’ equity 3,499,934   3,671,155 Noncontrolling interests in other partnerships 493,945   241,293  Total equity 3,993,879   3,912,448 Total liabilities and equity$11,785,661  $11,277,630          SL GREEN REALTY CORP.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(unaudited and in thousands, except per share data)
     Three Months Ended Nine Months Ended September 30, September 30,Funds From Operations (FFO) Reconciliation: 2026   2025   2026   2025         Net income (loss) attributable to SL Green common stockholders$72,192  $24,874  $(38,702) $(7,293)Add:       Depreciation and amortization 63,629   63,216   200,659   187,874 SLG's share of unconsolidated joint ventures depreciation and amortization 72,964   127,170   217,701   247,874 Net income (loss) attributable to noncontrolling interests 11,485   4,395   22,158   (3,582)Less:       Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate —   86,872   (814)  84,926 Purchase price and other fair value adjustments 477   9,652   7,953   (5,291)Gain (loss) on sale of real estate, net 91,445   (1,068)  103,902   (1,717)Depreciable real estate reserves (2,275)  —   (37,435)  (8,546)Depreciable real estate reserves in unconsolidated joint venture —   —   —   (1,780)Depreciation on non-rental real estate assets 1,478   1,628   4,483   4,312 Noncontrolling interests in consolidated joint ventures 7,071   2,186   27,451   1,526 FFO attributable to SL Green common stockholders and unit holders$122,074  $120,385  $296,276  $351,443          SL GREEN REALTY CORP.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(unaudited and in thousands, except per share data)
     Three Months Ended Nine Months Ended September 30, September 30,Operating income and Same-store NOI Reconciliation: 2026   2025   2026   2025         Net income$89,671  $35,161  $1,382  $6,799         Depreciable real estate reserves 2,275   —   37,435   8,546 (Gain) Loss on sale of real estate, net (91,445)  1,068   (103,902)  1,717 Purchase price and other fair value adjustments (4,261)  (11,138)  (14,106)  8,090 Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate —   (86,872)  814   (84,926)Gain on sale of marketable securities —   —   —   (10,232)Depreciation and amortization 63,629   63,216   200,659   187,874 SUMMIT Operator tax expense 616   1,279   2,424   2,781 Amortization of deferred financing costs 2,480   1,724   7,438   5,153 Interest expense, net of interest income 50,026   47,235   154,946   138,234 Interest expense on senior obligations of consolidated securitization vehicles 14,687   10,838   44,079   45,827 Operating income 127,678   62,511   331,169   309,863         Equity in net (income) loss from unconsolidated joint ventures (26,692)  9,287   (20,860)  30,892 Income from debt fund investments, net (2,166)  (1,176)  (10,634)  (1,776)Marketing, general and administrative expense 23,253   23,701   68,820   67,004 Transaction related costs 228   13,129   529   13,601 Loan loss and other investment reserves, net of recoveries —   —   —   (71,326)SUMMIT Operator expenses 42,936   35,959   93,398   82,570 Investment income (2,615)  (4,356)  (7,618)  (26,809)Interest income from real estate loans held by consolidated securitization vehicles (14,687)  (10,838)  (44,079)  (47,868)SUMMIT Operator revenue (34,655)  (32,883)  (90,306)  (86,424)Non-building revenue (26,955)  (20,271)  (59,524)  (40,406)Net operating income (NOI) 86,325   75,063   260,895   229,321         Equity in net income (loss) from unconsolidated joint ventures 26,692   (9,287)  20,860   (30,892)SLG's share of unconsolidated JV depreciable real estate reserves —   —   —   1,780 SLG's share of unconsolidated JV depreciation and amortization 68,880   66,616   207,074   194,844 SLG's share of unconsolidated JV amortization of deferred financing costs 4,101   3,558   12,519   9,856 SLG's share of unconsolidated JV interest expense, net of interest income 74,059   67,628   216,017   194,883 SLG's share of unconsolidated JV gain on early extinguishment of debt —   (57,187)  4,796   (57,187)SLG's share of unconsolidated JV investment income (554)  (3,963)  (1,759)  (13,940)SLG's share of unconsolidated JV loan loss and other investment reserves, net of recoveries —   —   —   14,531 SLG's share of unconsolidated JV non-building revenue (2,153)  (1,645)  (5,599)  (5,219)NOI including SLG share of unconsolidated JVs 257,350   140,783   714,803   537,977         NOI from other properties/affiliates (73,925)  30,394   (185,804)  (36,758)Same-Store NOI 183,425   171,177   528,999   501,219         Straight-line and free rent (3,462)  693   (10,052)  1,844 Amortization of acquired above and below-market leases, net 266   146   1,082   389 Operating lease straight-line adjustment 1,532   204   1,893   611 SLG's share of unconsolidated JV straight-line and free rent (14,003)  (10,396)  (32,949)  (33,788)SLG's share of unconsolidated JV amortization of acquired above and below-market leases, net (6,718)  (6,268)  (20,394)  (18,498)Same-store cash NOI$161,040  $155,556  $468,579  $451,777         Lease termination income (387)  (270)  (1,128)  (4,875)SLG's share of unconsolidated JV lease termination income (1,001)  (3,189)  (7,333)  (5,421)Same-store cash NOI excluding lease termination income$159,652  $152,097  $460,118  $441,481                  SL GREEN REALTY CORP.
NON-GAAP FINANCIAL MEASURES - DISCLOSURES

Funds from Operations (FFO)

FFO is a widely recognized non-GAAP financial measure of REIT performance. The Company computes FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, or Nareit, which may not be comparable to FFO reported by other REITs that do not compute FFO in accordance with the Nareit definition, or that interpret the Nareit definition differently than the Company does. The revised White Paper on FFO approved by the Board of Governors of Nareit in April 2002, and subsequently amended in December 2018, defines FFO as net income (loss) (computed in accordance with Generally Accepted Accounting Principles, or GAAP), excluding gains (or losses) from sales of properties, and real estate related impairment charges, plus real estate related depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures.

The Company presents FFO because it considers it an important supplemental measure of the Company’s operating performance and believes that it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, particularly those that own and operate commercial office properties. The Company also uses FFO as one of several criteria to determine performance-based compensation for members of its senior management. FFO is intended to exclude GAAP historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate assets diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. Because FFO excludes depreciation and amortization unique to real estate, gains and losses from property dispositions, and real estate related impairment charges, it provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, and interest costs, providing perspective not immediately apparent from net income. FFO does not represent cash generated from operating activities in accordance with GAAP and should not be considered as an alternative to net income (determined in accordance with GAAP), as an indication of the Company’s financial performance or to cash flow from operating activities (determined in accordance with GAAP) as a measure of the Company’s liquidity, nor is it indicative of funds available to fund the Company’s cash needs, including the Company's ability to make cash distributions.

Funds Available for Distribution (FAD)

FAD is a non-GAAP financial measure that is calculated as FFO plus non-real estate depreciation, allowance for straight line credit loss, adjustment for straight line operating lease rent, non-cash deferred compensation, and pro-rata adjustments for these items from the Company's unconsolidated JVs, less straight line rental income, free rent net of amortization, second generation tenant improvement and leasing costs, and recurring capital expenditures.

FAD is not intended to represent cash flow for the period and is not indicative of cash flow provided by operating activities as determined in accordance with GAAP. FAD is presented solely as a supplemental disclosure with respect to liquidity. Because all companies do not calculate FAD the same way, the presentation of FAD may not be comparable to similarly titled measures of other companies. FAD does not represent cash flow from operating, investing and finance activities in accordance with GAAP and should not be considered as an alternative to net income (determined in accordance with GAAP), as an indication of the Company’s financial performance, as an alternative to net cash flows from operating activities (determined in accordance with GAAP), or as a measure of the Company’s liquidity.

Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate (EBITDAre)

EBITDAre is a non-GAAP financial measure. The Company computes EBITDAre in accordance with standards established by Nareit, which may not be comparable to EBITDAre reported by other REITs that do not compute EBITDAre in accordance with the Nareit definition, or that interpret the Nareit definition differently than the Company does. The White Paper on EBITDAre approved by the Board of Governors of Nareit in September 2017 defines EBITDAre as net income (loss) (computed in accordance with GAAP), plus interest expense, plus income tax expense, plus depreciation and amortization, plus (minus) losses and gains on the disposition of depreciated property, plus impairment write-downs of depreciated property and investments in unconsolidated joint ventures, plus adjustments to reflect the entity's share of EBITDAre of unconsolidated joint ventures.

The Company presents EBITDAre because the Company believes that EBITDAre, along with cash flow from operating activities, investing activities and financing activities, provides investors with an additional indicator of the Company’s ability to incur and service debt. EBITDAre should not be considered as an alternative to net income (determined in accordance with GAAP), as an indication of the Company’s financial performance, as an alternative to net cash flows from operating activities (determined in accordance with GAAP), or as a measure of the Company’s liquidity.

Net Operating Income (NOI) and Cash NOI

NOI is a non-GAAP financial measure that is calculated as operating income before transaction related costs, gains/losses on early extinguishment of debt, marketing general and administrative expenses and non-real estate revenue. Cash NOI is also a non-GAAP financial measure that is calculated by subtracting free rent (net of amortization), straight-line rent, and the amortization of acquired above and below-market leases from NOI, while adding operating lease straight-line adjustment and the allowance for straight-line tenant credit loss.

The Company presents NOI and Cash NOI because the Company believes that these measures, when taken together with the corresponding GAAP financial measures and reconciliations, provide investors with meaningful information regarding the operating performance of properties. When operating performance is compared across multiple periods, the investor is provided with information not immediately apparent from net income that is determined in accordance with GAAP. NOI and Cash NOI provide information on trends in the revenue generated and expenses incurred in operating the Company's properties, unaffected by the cost of leverage, straight-line adjustments, depreciation, amortization, and other net income components. The Company uses these metrics internally as performance measures. None of these measures is an alternative to net income (determined in accordance with GAAP) and same-store performance should not be considered an alternative to GAAP net income performance.

Coverage Ratios

The Company presents fixed charge and debt service coverage ratios to provide a measure of the Company’s financial flexibility to service current debt amortization, interest expense and operating lease rent from current cash net operating income. These coverage ratios represent a common measure of the Company’s ability to service fixed cash payments; however, these ratios are not used as an alternative to cash flow from operating, financing and investing activities (determined in accordance with GAAP).

SLG-EARN

Key Takeaways SL Green signed 129 Manhattan office leases totaling 1.76 million square feet through Sept. 14, 2026.Occupancy reached 94.7% in June 2026, while replacement leases fetched rents 15.8% above prior rates.SL Green plans to use $216 million in expected sale proceeds to repay debt amid rising interest expenses.
SL Green (SLG - Free Report) is well-positioned to capitalize on rising demand for premium office properties in Manhattan. Strong leasing activity, improving occupancy and higher rental rates support its growth prospects. Its diversified tenant base and strategic capital recycling initiatives are expected to strengthen portfolio quality and financial flexibility.

However, elevated debt, refinancing requirements and geographic concentration remain concerns. Competition from office REITs like Vornado Realty Trust (VNO - Free Report) and BXP, Inc. (BXP - Free Report) also adds pressure.

SL Green's recent leasing momentum highlights sustained demand for its premium office properties. From the beginning of 2026 through Sept. 14, the company signed 129 Manhattan office leases aggregating 1.76 million square feet. Replacement leases were priced 15.8% above previous fully escalated rents.

What's Aiding SL Green?Demand for high-quality, amenity-rich office properties continues to support SL Green's leasing activities. The company benefits from its prime Manhattan locations and strong tenant relationships. Manhattan same-store leased occupancy rose to 94.7% as of June 30, 2026, from 93% at year-end 2025. Same-store cash NOI increased 4.3% year over year in the second quarter of 2026, excluding lease termination income. Management expects leased occupancy to reach 95% by year-end 2026. Similar to Vornado Realty Trust and BXP, SL Green is positioned to benefit from tenants' preference for modern, well-located office properties.

SL Green maintains a diversified tenant portfolio across industries, reducing its reliance on individual tenants. Excluding Paramount Global, no tenant accounted for more than 5% of annualized cash rent as of June 30, 2026, including joint venture exposure. Its long-term lease arrangements provide revenue visibility and support relatively stable rental cash flows. During the first half of 2026, Manhattan office leases carried an average term of 8.5 years.

SL Green continues to pursue acquisitions, dispositions and joint ventures to enhance portfolio quality. In September 2026, SL Green agreed to sell 110 Greene Street in SoHo for $226 million, with approximately $216 million in expected net cash proceeds earmarked for unsecured corporate debt repayment. Such initiatives should provide financial flexibility and support long-term growth.

What's Hurting SL Green?SL Green operates in a competitive office real estate market, facing pressure from other property owners and developers. Established office REITs, including Vornado Realty Trust and BXP, compete for tenants seeking premium office space. Such competition may require SL Green to provide attractive leasing incentives, affecting net effective rental growth. During the first half of 2026, its Manhattan office leases carried average concessions of 8.8 months of free rent and tenant improvement allowances of $91.89 per rentable square foot.

SL Green's portfolio remains heavily concentrated in Manhattan, making its operating performance sensitive to New York City's economic conditions. As of June 30, 2026, the company held interests in 54 buildings totaling 30.6 million square feet, with most ownership exposure tied to Manhattan commercial assets. A slowdown in local office demand could adversely affect occupancy and rental revenues.

Elevated leverage and interest expenses remain major concerns. SL Green's consolidated debt totaled $4.55 billion as of June 30, 2026. Variable-rate debt increased to 20.4% from 9.1% at year-end 2025. Interest expense, net of interest income, rose to $54 million in the second quarter of 2026 from $45.3 million a year earlier. This increases the company's vulnerability to refinancing challenges and unfavorable interest-rate movements.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

Key Takeaways SLG signed 129 Manhattan leases totaling 1.76 million square feet through Sept. 14, 2026.SLG's same-store leased occupancy rose to 94.7%, while cash NOI increased 4.3% year over year.SLG is using asset sales, joint ventures and debt actions to support liquidity and portfolio quality. SL Green Realty (SLG - Free Report) continues to benefit from strong demand for high-quality Manhattan office space, robust leasing activity and positive rent mark-to-market on replacement leases. Capital recycling also supports liquidity and portfolio quality.

Analysts seem bullish on this Zacks Rank #2 (Buy) stock. The estimate revision trend for 2026 adjusted funds from operations (AFFO) per share indicates a favorable outlook, with estimates moving north over the past two months.

Over the past three months, shares of SL Green have increased 5.8%, outperforming the industry’s 2% decline. Given its solid fundamentals and positive estimate revisions, the stock is likely to maintain its momentum in the quarters ahead.

Image Source: Zacks Investment Research

What Makes SL Green a Solid Choice?Premium Leasing Momentum: Demand for high-quality Manhattan office space continues to support rents and occupancy. From the beginning of the year through Sept. 14, 2026, SL Green signed 129 Manhattan office leases totaling 1.76 million square feet. The mark-to-market on signed replacement leases was 15.8% above the previous fully escalated rents for the same spaces.

As of June 30, 2026, Manhattan same-store leased occupancy rose to 94.7% from 93% at year-end 2025. In the second quarter of 2026, same-store cash NOI increased 4.3% year over year, excluding lease termination income. Management expects leased occupancy to reach 95% by year-end 2026.

Tenant Mix and Lease Duration: SL Green’s strategy remains centered on the high-barrier-to-entry New York office market, while tenant diversification limits reliance on any single user. As of June 30, 2026, excluding Paramount Global, no tenant accounted for more than 5% of annualized cash rent, including joint venture exposure.

For the first six months of 2026, Manhattan office leases carried an average term of 8.5 years. In July 2026, the company also signed a 10-year, 98,420-square-foot lease at 11 Madison Avenue, bringing 2026 office leasing volume to nearly 1.5 million square feet and supporting longer-term rental visibility.

Capital Recycling and Liquidity Actions: Management continues to pair asset sales with joint ventures, debt reduction and selective investment. In September 2026, SL Green entered into an agreement to sell 110 Greene Street in SoHo to Natora Group for $226 million. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions. In August 2026, the company also sold 10 East 53rd Street, which had been contracted for $312.2 million.

The SLG Opportunistic Debt Fund deployed $306.4 million year-to-date through June 2026, including $94.7 million during the second quarter, while SL Green repurchased $14.1 million of common stock in the second quarter of 2026. These actions diversify funding sources while supporting portfolio investment and balance sheet management.

Other Stocks to ConsiderSome other top-ranked stocks from the broader REIT sector are OUTFRONT Media (OUT - Free Report) and Terreno Realty (TRNO - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here

The Zacks Consensus Estimate for OUT’s 2026 FFO per share is pinned at $2.32. This indicates year-over-year growth of 16.6%.

The Zacks Consensus Estimate for TRNO’s 2026 FFO per share is pegged at $2.83. This calls for a year-over-year increase of 2.2%.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITS.

Key Takeaways SL Green Realty signed 129 Manhattan office leases totaling 1.76 million square feet through Sept. 14.Signed lease rents were 15.8% above prior escalated rents, with pipeline above 1M sq. ft.Premium assets remain in demand, with One Vanderbilt fully leased and 245 Park Avenue reaching 100% occupancy. SL Green Realty (SLG - Free Report) continues to see strong demand across its Manhattan office portfolio, with leasing activity reaching nearly 1.8 million square feet from the beginning of the year through Sept. 14, 2026. The company has signed 129 office leases totaling 1.76 million square feet, with rents marking 15.8% higher than the previous fully escalated rents on the same spaces. Its current leasing pipeline has also grown to more than 1 million square feet.

Recent leasing activity highlights continued tenant demand for high-quality Manhattan office space. IMG Worldwide renewed a five-year lease for 90,202 square feet at 304 Park Avenue South, while Nearwater Management signed a new eight-year lease for 37,563 square feet at 245 Park Avenue, taking the building to 100% occupancy.

Momentum is also visible at SL Green’s trophy assets. Greenberg Traurig expanded its presence at One Vanderbilt by 33,477 square feet, bringing its total commitment there to 133,365 square feet, while the building remains fully leased. Oceansound Partners also signed a new 32,032-square-foot lease at 450 Park Avenue.

Management attributed the strong leasing environment to tenants expanding their footprints and investing in premium workplaces to attract and retain employees. This trend continues to support demand for well-located, high-quality office properties across Manhattan.

Final Outlook on SL GreenSL Green’s leasing performance signals healthy demand across its Manhattan portfolio and reinforces the appeal of premium office assets. Rising rents, fully leased flagship properties and a leasing pipeline exceeding 1 million square feet could support occupancy, rental income and longer-term cash flow growth for the REIT.

Over the past three months, shares of this Zacks Rank #3 (Hold) company have gained 2.3% against the industry’s fall of 2.7%.

Image Source: Zacks Investment Research

Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Lamar Advertising (LAMR - Free Report) and OUTFRONT Media (OUT - Free Report) , each carrying a Zacks Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for LAMR’s 2026 FFO per share is pegged at $8.93, which indicates year-over-year growth of 8.1%.

The consensus estimate for OUT’s 2026 FFO per share has moved 1.3% upward over the past month to $2.32, calling for a rise of 16.6% year over year.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

Two leases totaling almost 57,000 square feet at SL Green’s 1185  Sixth Ave. were just signed, bringing the 1.1 million square-foot tower between West 46th and 47th streets to about 92% full.

One lease was a 29,166 square-foot renewal and expansion for insurance firm Ryan Specialty LLC, while the other was a new, 27,508 square-foot lease with property management firm Solil Management LLC.

SL Green leasing director Steven Durels said, not surprisingly, “We’re delighted to have both of these highly regarded firms as part of the building’s premier tenant roster.”

The highrise has reached 92% occupancy. Stefano Giovannini The tower recently saw major improvements including for the lobby, elevators and corridors.

Moroccanoil, a luxury and body-care company, recently signed a lease for  37,000 square feet, moving from 135 E. 57th St. which is being converted to apartments.

Other major tenants at 1185 Sixth include Syska Hennessey, Industrial & Commercial Bank of China and Hartree Partners.

Is Consumer Discretionary a Dead End? These 3 Stocks Say NoSL Green Realty NYSE: SLG raised its 2026 funds from operations guidance sharply after what management described as a strong first half of the year, citing stronger leasing, improved economic occupancy, expense control and a recurring contribution tied to One Vanderbilt.

On the company’s Q2 2026 earnings call, Chairman and Chief Executive Officer Marc Holliday said leasing gains made over the past several years are now showing up in the company’s financial results. He said economic occupancy rose 300 basis points during the quarter as concessions burned off and vacancy declined.

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Are Dividend-Paying Office REITs Finally Staging A Comeback?“Much of what we predicted at our investor conference in December is now playing out in ways that directly drive earnings and improves cash flow,” Holliday said. He added that the company expects to exceed its leasing goals for the year, though management said it was too early to reforecast the exact magnitude.

FFO Guidance Raised by $1.20 Per Share Chief Financial Officer Matt DiLiberto said SL Green increased its 2026 FFO guidance by $1.20 per share, or more than 26%, with “the vast majority” of the increase recurring. He attributed $0.20 per share of incremental FFO to the real estate portfolio, including benefits from early renewals, leasing of pre-built space, faster delivery of space to tenants and expense containment. DiLiberto said $0.10 of that amount was recognized in the second quarter.

These 3 Top-Rated Small Caps May Be Undervalued BargainsAnother $0.20 per share is expected from additional fee and other income tied to execution of the company’s 2026 business plan over the remainder of the year.

The largest component of the guidance increase, however, came from One Vanderbilt. DiLiberto said the property’s strong cash flow had caused SL Green’s carrying value in the investment to go negative, reaching the maximum negative basis allowed under GAAP at the end of the first quarter. Beginning in Q2, the company’s FFO contribution from One Vanderbilt includes amortization of the negative carrying value and the difference between cash distributions received and SL Green’s share of GAAP net income.

DiLiberto said those two components add $0.80 per share to 2026 FFO, including $0.35 recorded in the second quarter. He said the contribution is expected to be “as much or more” next year based on current projections.

Leasing Momentum Broad-Based Across Portfolio SL Green executives described leasing strength as broad-based, with particular rent appreciation in Park Avenue and Sixth Avenue assets. Steve Durels, executive vice president and director of leasing and real property, said rents have risen “dramatically” at properties including 1185 Sixth Avenue and 245 Park Avenue.

Asked about leasing mark-to-market trends, Durels said the strength was not isolated to one building or submarket. “Across the portfolio, we’ve been consistently raising asking rents throughout the year,” he said, adding that the company expects similar trends in the next quarter.

Durels said the company’s leasing pipeline stood at 900,000 square feet, about evenly split between new leases and renewals. Of that amount, 400,000 square feet was in active negotiation, with the balance in term sheets expected to convert to leases.

Management also highlighted activity tied to technology and artificial intelligence tenants. Durels said there are 9.5 million square feet of active technology searches in Manhattan, including 2.5 million square feet from AI tenants. He said SL Green has limited AI exposure to roughly 1% to 2% of its portfolio and noted that many current AI prospects are better capitalized than dot-com-era tenants.

New York City Office Market Cited as Key Driver Holliday repeatedly pointed to New York City’s economic strength as a foundation for SL Green’s performance. He cited Wall Street profits, office-using job growth, venture capital funding and broad demand from financial services, technology and healthcare as factors supporting office leasing.

He said the city has seen about 50 million square feet of office space leased over the past four quarters, which he characterized as likely a record. Holliday said the recovery is being driven by four factors: a strong local economy, limited new office supply, tenants moving forward with long-term space plans after years of uncertainty, and office-to-residential conversions reducing available office inventory.

“As long as the economy stays robust as it is, we don’t see this abating anytime soon,” Holliday said.

On concessions, Durels said renewal deals continue to support higher net effective rents. For typical five-year renewals, he said free rent is generally around three to four months, with three months often being the average. For new 10-year transactions, he said free rent could eventually move toward 10 months.

Capital Markets, Dispositions and Development Updates President and Chief Investment Officer Harry Sitomer said investor demand for quality Midtown Manhattan assets remains strong despite higher benchmark rates. He said SL Green has completed or is under contract on four of the 11 transactions in its 2026 plan and expects to announce two more soon, with the remaining five expected to launch later in the year.

Sitomer cited several recent transactions, including SL Green’s partnership with Mori Building at 346 Madison Avenue and its contract to sell 10 East 53rd Street at an approximately 5.7% cap rate. He said the 10 East 53rd Street sale represents roughly a 3.5 times multiple on SL Green’s 2024 acquisition of its partner’s interest.

On debt markets, Sitomer said SL Green remains encouraged by credit availability, pointing to roughly $11 billion of year-to-date CMBS originations, compared with about $8.5 billion during the same period last year. He said the company’s next major refinancing is 245 Park Avenue, which is in advanced stages.

DiLiberto said SL Green continues to hedge interest rate exposure, maintaining a more cautious stance as benchmark rates remain volatile. He said the company’s debt mix is now closer to 90% fixed and 10% floating, compared with a prior 70/30 mix.

At 346 Madison, Holliday said SL Green chose to bring in Mori Building early to fully capitalize and de-risk the development. He said the company may syndicate additional equity later, potentially after leasing begins, upon completion or during recapitalization.

SUMMIT and Other Assets Holliday said SUMMIT One Vanderbilt continues to outperform competing observatory attractions in attendance and average ticket price, even as overall tourism in New York has been weaker this year. He said attendance was softer early in the year but improved beginning in late May and June, with recent daily ticket sales reaching levels typically seen during the year-end holiday period.

SL Green remains on track to open SUMMIT Paris in 2027 and SUMMIT Tokyo in 2030, Holliday said, adding that the company sees “enormous growth potential” for the business.

Regarding 1515 Broadway, Holliday said SL Green has reassessed plans after the casino outcome and now views the property positively. He said Paramount’s acquisition by Skydance and planned Warner Bros. transaction could put the building back in play for longer-term use by the combined company. He also said lower debt at the property after the Paramount lease expires would give SL Green flexibility to consider entertainment-focused conversion options.

DiLiberto said SL Green still expects funds available for distribution to improve through 2026 and 2027, with the company reaching dividend coverage breakeven in 2028.

About SL Green Realty (NYSE:SLG)SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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2026 Office Leasing Volume Reaches 1.5M Square Feet July 22, 2026 16:10 ET  | Source: SL Green Realty Corp

NEW YORK, July 22, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that a leading AI tenant has signed a new 10-year lease covering 98,420 square feet for the entire 11th floor at 11 Madison Avenue, demonstrating the on-going demand for premier office space in Midtown South.

With this transaction, SL Green has signed office leases totaling 1,478,673 square feet to date in 2026, while maintaining a current pipeline of over 900,000 square feet.

“We are excited to welcome another premier tenant to the already impressive tenant roster at 11 Madison Avenue which includes SONY, UBS, Jim Beam Brands, WME and Pinterest,” said Steven Durels, Executive Vice President, Director of Leasing and Real Property at SL Green. “This new lease is testament to the building’s status as one of the most prominent properties in the exciting Midtown South neighborhood and further evidence of the incremental demand that AI and technology tenants are bringing to an already strong leasing market.”

11 Madison Avenue is fully leased after signing an additional nearly 300,000 square feet of office leases from the beginning of 2025 to other AI and technology tenants which include Pinterest, Tempus AI and Clay Labs. SL Green’s One Madison Avenue, adjacent to 11 Madison Avenue, introduced approximately 1.4 million square feet of new office inventory to the Madison Square area and is also fully leased with industry-leading AI and technology tenants including Harvey AI, IBM, Palo Alto Networks, and Sigma Computing.

The tenant was represented by Justin Haber and Kyle Riker of JLL. SL Green was represented by Brian Waterman, Brent Ozarowski and Eric Harris of Newmark.

About SL Green Realty Corp.

SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties. As of June 30, 2026, SL Green held interests in 54 buildings totaling 30.6 million square feet, which included ownership interests in 29.2 million square feet and 1.4 million square feet securing debt and preferred equity investments, excluding fund investments, and managed 4 buildings totaling 0.9 million square feet owned by third parties.

Forward Looking Statement

This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.

Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.

PRESS CONTACT
[email protected]

SLG-LEAS

June 17, 2026 16:05 ET  | Source: SL Green Realty Corp

NEW YORK, June 17, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan’s largest office landlord, today announced that its board of directors has declared a quarterly ordinary dividend of $0.6175 per share of common stock, which is the equivalent of an annualized dividend of $2.47 per share. The dividend is payable in cash on July 15, 2026 to shareholders of record at the close of business on June 30, 2026.

The board of directors also declared the regular quarterly dividend on the company's Series I Preferred Stock for the period April 15, 2026 through July 14, 2026 of $0.40625 per share, which is the equivalent of an annualized dividend of $1.625 per share. The dividend is payable in cash on July 15, 2026 to shareholders of record at the close of business on June 30, 2026.

About SL Green Realty Corp.

SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties. As of March 31, 2026, SL Green held interests in 55 buildings totaling 30.8 million square feet which included ownership interests in 29.4 million square feet and 1.4 million square feet securing debt and preferred equity investments, excluding fund investments, and managed 3 buildings totaling 0.8 million square feet owned by third parties.

Forward Looking Statement

This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.

Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.

PRESS CONTACT
[email protected]

SLG – DIV