SL Green Realty Corp. reported a solid third quarter 2026, characterized by high leasing velocity and a significant upward revision to its full-year earnings outlook. The company's Manhattan portfolio demonstrated operational strength with occupancy gains and positive rent spreads, while strategic asset sales provided a substantial boost to the projected annual bottom line.
Key Highlights
- Manhattan same-store office occupancy climbed to 95.0% as of September 30, 2026, compared to 92.9% at the end of 2025.
- Signed 38 Manhattan office leases totaling 591,108 square feet during the quarter, achieving a positive mark-to-market rent spread of 13.6%.
- Raised FY2026 FFO guidance to a range of $6.50 to $6.70 per share, driven primarily by $1.10 per share in incremental income from a joint venture interest sale.
- Manhattan same-store cash Net Operating Income (NOI) increased 5.0% year-over-year, excluding lease termination income.
- Executed a $2.0 billion refinancing of 245 Park Avenue at a 6.52% interest rate, replacing $1.768 billion of existing debt.