SL Green Realty

SLG

Market cap $3.23B

SLG teams up with Mori Building for 346 Madison Avenue, cutting equity exposure while advancing the 850,000-square-foot East Midtown tower.

NEW YORK, May 27, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, today announced that it has closed on the sale of a 49.0% joint venture interest in the development of 346 Madison Avenue to Mori Building Co., Ltd., Japan's leading urban landscape developer, at a gross valuation of $175.0 million.

SL Green Realty Corp. saw significant occupancy and leasing gains in the first quarter as FFO declined, and rising U.S. Treasury yields look set to form a headwind for REITs. SLG's Manhattan same-store occupancy rose to 94.4% in the first quarter, with guidance for this to reach 95% by the end of 2026. First quarter FFO fell to $0.84 per share, missing consensus and down from $1.43 in the year-ago comp.

SLG shares climb 13% in three months as record Manhattan leasing, rising occupancy and portfolio moves support momentum.

NEW YORK, May 07, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, today announced that it was awarded the 2026 Urban Land Institute Award for Excellence in Development for One Madison Avenue under the “Office Development” category. Through its Awards for Excellence program, ULI New York honors outstanding development projects that exemplify leadership in shaping the built environment, delivering transformative impact in communities while showing that ambitious projects can meet tenant demand and set new marks for achievable rents.

NEW YORK, April 28, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, today announced that it has secured the asset management assignment to launch the leasing of 15 Laight Street, a 109,000 square foot, newly constructed boutique office building in Tribeca owned by the Hyundai Motor Group (“HMG”). In connection with an investment made through an affiliate of SL Green's $1.3 billion debt fund, the Company's third-party asset management platform, Green Property Services, has been engaged by HMG to provide comprehensive leasing and asset management services for the property.

SL Green Realty remains a Buy, with aggressive leasing, a solid portfolio, and risks already reflected in its valuation. SLG achieved record Q1 leasing and strong mark-to-market spreads, and expects same-store occupancy to reach 95% by year-end. A 20% dividend cut frees up ~$50 million for accretive uses, while refinancing efforts reduce borrowing costs and extend maturities.

Not every REIT is a buy, even in a strong sector recovery. Some cheap-looking REITs may be traps, while others already price in too much optimism. Three popular names look far less attractive once you dig into the risks.

SL Green Realty Corp. (SLG) Q1 2026 Earnings Call Transcript

SLG's Q1 2026 FFO misses estimates despite a revenue beat and record Manhattan leasing. Shares slide more than 2% after hours.