SL Green Realty Corp. reports developments tied to its role as a Manhattan-focused office real estate investment trust and landlord. News commonly covers office leasing activity across major New York properties, asset management assignments through Green Property Services, development and adaptive reuse projects such as One Madison Avenue, and portfolio exposure to office and select retail real estate.
Company updates also include dividend actions, credit facility refinancing, debt fund and capital-platform activity, operating and financial results, and governance or leadership changes. These announcements reflect SL Green’s recurring focus on leasing, financing, portfolio management, and shareholder distributions within the Manhattan commercial real estate market.
SL Green Realty Corp. (NYSE: SLG) has launched Jōji, a new omakase dining restaurant at One Vanderbilt, New York City. Opened on September 14, 2022, it offers a curated menu by renowned chefs George Ruan and Daniel Boulud. This culinary venture coincides with SL Green's 25th anniversary on the NYSE. Jōji also includes Jōji Box, a sushi takeout counter, with prices starting at $23.00. Reservations can be made via Resy, and the restaurant accommodates 18 guests per seating.
SL Green Realty Corp. (NYSE: SLG) has announced an agreement to sell 414,317 square feet of vacant office leasehold condominium units at 885 Third Avenue for $300.4 million to Memorial Sloan Kettering Cancer Center. This strategic sale will enhance the building's occupancy, retaining 218,796 square feet currently leased at 91.7%. The transaction is expected to close in Q4 2022. This move is seen as validating the quality and repositioning of the property, which contains approximately 633,000 square feet of Class A office space.
SL Green Realty Corp. (NYSE: SLG) has successfully acquired 245 Park Avenue, a prime 1.8 million-square-foot office property in Manhattan, strengthening its portfolio in the Grand Central/Park Avenue area. This acquisition follows SL Green's previous preferred equity investment in the property. The building, which is subject to $1.768 billion in mortgage and mezzanine loans, will undergo significant renovations, including lobby improvements and expanded amenities. The company is also pursuing a $185 million arbitration award against the asset's former owner.
SL Green Realty Corp. (NYSE: SLG), New York City's largest office landlord, has announced participation in a roundtable discussion at the BofA Securities 2022 Global Real Estate Conference on September 13, 2022, at 2:55 PM ET. Key executives including President Andrew Mathias, CFO Matt DiLiberto, and EVP Steven Durels will be present. The event will be webcasted live, with presentation materials accessible beforehand on the SL Green website. A replay will be available until December 12, 2022. As of June 30, 2022, SL Green owned interests in 64 buildings covering 34.4 million square feet.
SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, has declared a monthly dividend of $0.3108 per share, payable on September 15, 2022. Shareholders of record by August 31, 2022 will receive this cash dividend. As of June 30, 2022, SL Green managed interests in 64 buildings totaling 34.4 million square feet, with a significant ownership in 26.3 million square feet of Manhattan properties. The company is a fully integrated real estate investment trust (REIT) focused on maximizing the value of its commercial real estate portfolio.
SL Green Realty Corp. reported a net loss of $43.9 million ($0.70 per share) for Q2 2022, a significant drop from a net income of $105.3 million ($1.56 per share) in Q2 2021. Funds from operations (FFO) increased to $128.8 million ($1.87 per share), up from $117.7 million in the prior year. The company signed 39 Manhattan office leases covering 188,822 square feet, with a 92.0% occupancy rate. Major transactions included the acquisition of 450 Park Avenue for $445 million and the sale of properties for a total of $221.5 million.
SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, has declared a monthly dividend of $0.3108 per share, payable on August 15, 2022, to shareholders of record on July 29, 2022. As of March 31, 2022, SL Green owned interests in 72 buildings totaling 34.7 million square feet, highlighting its focus on Manhattan commercial properties.
SL Green Realty Corp. has successfully acquired 450 Park Avenue through a newly formed joint venture with institutional investors from South Korea and Israel. Retaining a 25.1% interest in the property, SL Green will manage leasing and operations. The acquisition was financed with $267 million from a Wells Fargo-led bank group. The 33-story tower spans 337,000 square feet of office and retail space, attracting luxury tenants like Aston Martin. This strategic investment enhances SL Green's growing investment management platform.
SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, will release its Q2 2022 earnings on July 20, 2022, after market close. A conference call hosted by CEO Marc Holliday is scheduled for July 21, 2022, at 2:00 pm ET to discuss the results. Investors can access supplemental data on SL Green's website. The company holds interests in 72 buildings totaling 34.7 million square feet, including ownership interests in 26.7 million square feet of Manhattan properties.
SL Green Realty Corp. (NYSE: SLG) has declared a monthly dividend of $0.3108 per share, payable on July 15, 2022 to shareholders of record as of June 30, 2022. Additionally, a quarterly dividend of $0.40625 per share for the Series I Preferred Stock has also been announced, representing an annualized rate of $1.625. As of March 31, 2022, SL Green has interests in 72 buildings totaling 34.7 million square feet in Manhattan. The company focuses on managing and maximizing the value of commercial properties in the area.