SL Green Realty Corp. (SLG)
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SL Green to Sell 110 Greene Street in SoHo for $226 million
SLG is set to sell 110 Greene Street for $226 million, with net proceeds earmarked to repay unsecured corporate debt.
SL Green's Manhattan Office Leasing Momentum Is Not Being Fully Appreciated
SL Green Realty posted a same-store occupancy of 94.7% in its fiscal 2026 second quarter, up 30 basis points sequentially, with guidance to reach 95.0% by year-end. The REIT beat on both revenue and FFO, with revenue growing by 9.1% over its year-ago comp and FFO beating consensus by $0.23 at $1.43 per share. SLG is trading at a 9.55x multiple against the midpoint of its 2026 FFO guidance range, which is cheaper than the broad REIT average as leasing continues to move up.
SL Green: Struggling To Get Along
SL Green earns a Hold rating as FFO growth remains elusive despite a 16% YTD return and a compelling 4.6% yield. SLG's office-centric Manhattan portfolio boasts high-quality assets and strong tenant diversification, but rising interest expense and lower DPE income pressure results. Q2 FFO guidance surprised the market, with management raising the midpoint substantially, changing the profile to nearly 7% FFO growth this year.
SL Green Realty Corp. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
 Curtis Ellergodt Rothschild Investment LLC | 202 | $9,333.96 | $10,433.3 | $1,099.34 | 11.78% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 29,788 | $1.54M | $1.54M | -$4,473.44 | -0.29% |
| ABB Alexander Bjornager Bonde Danske Bank A/S | 100 | $4,587 | $5,161.5 | $574.5 | 12.52% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 17 | $675.95 | $877.03 | $201.08 | 29.75% |
| NA Nizar Araji National Bank Of Canada /FI/ | 79,313 | $4.74M | $4.47M | -$269,092 | -5.68% |
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SL Green Realty Corp. Profile
| Office REITs Industry | Real Estate Sector | Marc Holliday CEO | NYSE Exchange | 78440X887 CUSIP |
| US Country | 1,289 Employees | 15 Jul 2026 Last Dividend | 24 Jan 2022 Last Split | 15 Aug 1997 IPO Date |
Overview
SL Green Realty Corp. stands out as Manhattan's premier office landlord and is recognized for its comprehensive integration as a real estate investment trust (REIT). The company's strategic focus revolves around the procurement, management, and value optimization of commercial properties located within Manhattan. Demonstrating robust growth and market presence, SL Green has expanded its portfolio to include interests in 59 buildings which collectively span over 32.5 million square feet as of the data point on September 30, 2023. This expansive portfolio encompasses ownership stakes in buildings amounting to 28.8 million square feet and also includes 2.8 million square feet that serve as collateral in debt and preferred equity investments, highlighting the company's diversified approach to real estate investment and asset management in a competitive market.
Products and Services
- Acquisition of Manhattan Commercial Properties
SL Green Realty Corp. specializes in the strategic acquisition of commercial real estate properties located in Manhattan. Through meticulous market analysis and leveraging extensive industry experience, SL Green identifies properties that offer significant potential for value appreciation and sustainable revenue generation.
- Management of Manhattan Commercial Properties
SL Green excels in the comprehensive management of commercial properties, ensuring operational efficiency, tenant satisfaction, and upkeep of high standards. The company's property management services are designed to enhance asset value and contribute to the overall attractiveness of its real estate portfolio.
- Maximizing Value of Manhattan Commercial Properties
Committed to delivering exceptional value to its stakeholders, SL Green employs strategic measures to maximize the value of its Manhattan-based commercial properties. This includes targeted renovations, rebranding efforts, and the optimization of leasing strategies to increase occupancy rates and rental income.
- Debt and Preferred Equity Investments
In addition to direct property ownership, SL Green actively engages in securing debt and preferred equity investments. By providing financial instruments backed by commercial real estate, SL Green diversifies its investment portfolio and taps into additional revenue streams, showcasing a well-rounded approach to real estate investment and financial management.
