Welcome to our dedicated page for Sl Green Rlty news (Ticker: SLG), a resource for investors and traders seeking the latest updates and insights on Sl Green Rlty stock.
SL Green Realty Corp. (NYSE: SLG) is a fully integrated REIT that describes itself as Manhattan’s largest office landlord, with a portfolio focused on commercial properties in New York City. The news flow around SL Green often centers on Manhattan office leasing, acquisitions and dispositions of major towers, and financing transactions tied to its properties and credit investments.
On this page, readers can follow company announcements about transactions such as the acquisition of Park Avenue Tower, joint venture arrangements at 100 Park Avenue, and consolidation of ownership at 800 Third Avenue. SL Green also reports on contracts to purchase development sites like 346 Madison Avenue and adjacent parcels, highlighting its ongoing activity in Midtown Manhattan and along Park Avenue.
Regular updates include leasing milestones across the Manhattan office portfolio, with details on new leases, expansions and renewals for tenants in sectors such as financial services, professional services and technology. The company also issues press releases on office leasing volume, same-store occupancy targets and notable tenant commitments at buildings including One Madison Avenue, 11 Madison Avenue, 245 Park Avenue, 280 Park Avenue, 1185 Avenue of the Americas and others.
Investors can also see capital markets and corporate news, including refinancings of large office assets, the launch and deployment of the SLG Opportunistic Debt Fund, and changes to dividend policies for common and preferred stock. Earnings release dates, conference call information and institutional investor conference details are regularly announced, giving context to SL Green’s financial performance and strategy. For anyone tracking SLG, this news feed provides a centralized view of the company’s property-level activity, leasing trends and financing decisions in Manhattan commercial real estate.
SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, has successfully modified and extended the mortgage on 220 East 42nd Street in partnership with its joint venture partner. The modification includes:
1. A $9.0 million paydown of the principal balance to $496.4 million
2. Extension of the maturity date by over three years, from July 2024 to December 2027
3. Maintenance of the interest rate at 2.75% over term SOFR, fixed at 6.77% through maturity
The 37-story art-deco skyscraper, also known as The Daily News Building, is currently 91% occupied with notable tenants including Visiting Nurse Services, Omnicom Group, United Nations Development Program, and WPIX.
SL Green Realty Corp (NYSE:SLG), Manhattan's largest office landlord, has announced a monthly ordinary dividend of $0.25 per share of common stock. This is equivalent to an annualized dividend of $3.00 per share. The dividend will be paid in cash on August 15, 2024 to shareholders of record as of the close of business on July 31, 2024. This announcement demonstrates SL Green's commitment to providing regular returns to its shareholders, maintaining its position as a significant player in the Manhattan real estate market.
SL Green Realty Corp. (NYSE: SLG) reported Q2 2024 results with EPS of ($0.04) and FFO of $2.05 per share. The company increased its 2024 FFO guidance to $7.45-$7.75 per share, reflecting portfolio outperformance and fee generation. Key highlights include:
- Signed 38 Manhattan office leases covering 420,513 sq ft in Q2
- Mark-to-market on signed leases was 15.5% higher in Q2
- Manhattan same-store office occupancy increased to 89.6%
- Contracted sale of Giorgio Armani Residences for $168.2 million
- Closed on sale of 625 Madison Avenue for $634.6 million
- Modified and extended $1.075 billion mortgage on 280 Park Avenue
The company continues to grow its special servicing and asset management business, with $3.0 billion of active assignments.
SL Green Realty Corp (NYSE: SLG), Manhattan's largest office landlord, has announced the closure of three property sales totaling $691.4 million. The transactions include:
1. 625 Madison Avenue: Sold for $634.6 million, with SLG originating a $235.5 million preferred equity investment.
2. 719 Seventh Avenue in Times Square: Sold for $30.5 million.
3. Palisades Premier Conference Center: Sold for $26.3 million.
These sales generated net proceeds of $222.7 million, which the company used for corporate debt repayment. Brett Herschenfeld, Executive VP of Retail & Opportunistic Investments, stated that these strategic transactions demonstrate progress towards SLG's 2024 business goals amidst an improving market backdrop.
SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, has announced 66,014 square feet of new retail leases since Q1 2024, achieving full retail occupancy at One Madison Avenue. The development features high-profile tenants including La Tête d'Or by Daniel Boulud, Delicious Hospitality Group, Los Tacos No. 1, Sweetgreen, Alidoro, and Jōji Box. These join the existing anchor tenant, Chelsea Piers, set to open in August 2024.
Additional notable leases include Brasserie Cognac at 461 Fifth Avenue and Chase Bank's renewal at 810 Seventh Avenue. The strong leasing activity reflects the demand for quality retail space in New York City, driven by increased foot traffic and tourism.
SL Green Realty Corp., Manhattan's largest office landlord, has announced the sellout of the Giorgio Armani Residences at 760 Madison Avenue on the Upper East Side. All 10 luxury residential units are now under contract for a total gross consideration of $168.2 million. The sales are expected to close in the fourth quarter of 2024.
The development, a collaboration between SL Green, Giorgio Armani, COOKFOX architecture firm, and Victoria Hagan as creative consultant, features a fluted limestone façade reflecting Armani's classic style while respecting the Upper East Side's historic aesthetic. Several units offer Central Park views and outdoor space. Douglas Elliman Development Marketing served as the exclusive marketing and sales agency.
SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, has announced significant leasing activity in 2024. The company signed leases totaling 420,513 square feet in Q2 and an additional 367,401 square feet in July, bringing the year-to-date total to 1,421,574 square feet. Notable leases include:
- Ares Management: 307,336 sq ft at 245 Park Avenue
- Elliot Management Corp: 149,437 sq ft at 280 Park Avenue
- Tradeweb Markets : 75,825 sq ft at 245 Park Avenue
- Golenbock Eiseman Assor Bell & Peskoe: 38,050 sq ft renewal at 711 Third Avenue
- Brightwood Capital Advisors: 17,320 sq ft renewal at 810 Seventh Avenue
SL Green maintains a pipeline of approximately 1.2 million square feet. The company notes that tenant demand is focused on upgraded, amenitized buildings near mass transit.
SL Green Realty Corp. (NYSE: SLG), the largest office landlord in Manhattan, will release its Q2 2024 financial results on July 17, 2024, after market close.
The management team, led by CEO Marc Holliday, will discuss the results in a conference call and audio webcast on July 18, 2024, at 2:00pm ET. Supplemental data will be available on the company's website, with a replay of the call also accessible online.
SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, announced on June 17, 2024, that its board of directors has declared a monthly ordinary dividend of $0.25 per share of common stock, amounting to an annualized dividend of $3.00 per share. The dividend is payable in cash on July 15, 2024, to shareholders of record as of June 28, 2024.
Additionally, the board declared a regular quarterly dividend of $0.40625 per share on the company's Series I Preferred Stock for the period from April 15, 2024, through July 14, 2024. This represents an annualized dividend of $1.625 per share, also payable in cash on July 15, 2024, to shareholders of record at the close of business on June 28, 2024.
SL Green Realty Corp. (NYSE: SLG), the largest office landlord in Manhattan, announced that several of its key executives will participate in a presentation at Nareit's 2024 REITweek. The event is scheduled for Tuesday, June 4, 2024, at 10:15 AM ET. Harrison Sitomer, Chief Investment Officer; Matt DiLiberto, Chief Financial Officer; and Steve Durels, EVP, Director of Leasing and Real Property, will represent SL Green. The presentation will be webcast live and can be accessed via the Investors section of SL Green's website, with a replay available afterward.