SL Green Inks 98,000 Square Foot Lease at 11 Madison Avenue
Rhea-AI Summary
SL Green (NYSE: SLG) announced a new 10-year lease for 98,420 square feet covering the entire 11th floor at 11 Madison Avenue with a leading AI tenant. This brings SL Green’s 2026 office leasing volume to 1,478,673 square feet year-to-date, with a current pipeline exceeding 900,000 square feet.
According to the company, 11 Madison Avenue is fully leased after nearly 300,000 square feet of additional office leases since early 2025, and adjacent One Madison Avenue (about 1.4 million square feet) is also fully leased to AI and technology tenants.
Positive
- New 98,420 square foot lease signed for 10 years at 11 Madison Avenue
- 2026 office leasing volume reaches 1,478,673 square feet year-to-date
- 11 Madison Avenue fully leased after nearly 300,000 square feet of leases since early 2025
- One Madison Avenue’s 1.4 million square feet fully leased to AI and technology tenants
- Portfolio scale of 54 buildings totaling 30.6 million square feet as of June 30, 2026
Negative
- None.
News Market Reaction – SLG
In the Jul 23 session, SLG gained 6.96%, reflecting a notable positive market reaction. Argus tracked a peak move of +4.9% during that session. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. Trading volume was above average at 1.9x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 16 | Tokyo expansion | Positive | -0.4% | SUMMIT joint venture announced expansion of its immersive observatory experience to Tokyo. |
| Jun 22 | Earnings date notice | Neutral | -2.0% | Company scheduled release of second-quarter 2026 financial results after market close. |
| Jun 17 | Dividend declaration | Positive | +4.8% | Board declared quarterly common and preferred stock dividends for shareholders. |
| Jun 01 | Property sale | Positive | -1.4% | SL Green agreed to sell 10 East 53rd Street for $312.2 million. |
| May 27 | Joint venture | Positive | +0.3% | SL Green formed a development joint venture with Mori Building at 346 Madison Avenue. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
SLG's recent announcements produced mixed reactions, with three divergences and two alignments between event sentiment and subsequent price movement.
Key Terms
reit financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
2026 Office Leasing Volume Reaches 1.5M Square Feet
NEW YORK, July 22, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that a leading AI tenant has signed a new 10-year lease covering 98,420 square feet for the entire 11th floor at 11 Madison Avenue, demonstrating the on-going demand for premier office space in Midtown South.
With this transaction, SL Green has signed office leases totaling 1,478,673 square feet to date in 2026, while maintaining a current pipeline of over 900,000 square feet.
“We are excited to welcome another premier tenant to the already impressive tenant roster at 11 Madison Avenue which includes SONY, UBS, Jim Beam Brands, WME and Pinterest,” said Steven Durels, Executive Vice President, Director of Leasing and Real Property at SL Green. “This new lease is testament to the building’s status as one of the most prominent properties in the exciting Midtown South neighborhood and further evidence of the incremental demand that AI and technology tenants are bringing to an already strong leasing market.”
11 Madison Avenue is fully leased after signing an additional nearly 300,000 square feet of office leases from the beginning of 2025 to other AI and technology tenants which include Pinterest, Tempus AI and Clay Labs. SL Green’s One Madison Avenue, adjacent to 11 Madison Avenue, introduced approximately 1.4 million square feet of new office inventory to the Madison Square area and is also fully leased with industry-leading AI and technology tenants including Harvey AI, IBM, Palo Alto Networks, and Sigma Computing.
The tenant was represented by Justin Haber and Kyle Riker of JLL. SL Green was represented by Brian Waterman, Brent Ozarowski and Eric Harris of Newmark.
About SL Green Realty Corp.
SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties. As of June 30, 2026, SL Green held interests in 54 buildings totaling 30.6 million square feet, which included ownership interests in 29.2 million square feet and 1.4 million square feet securing debt and preferred equity investments, excluding fund investments, and managed 4 buildings totaling 0.9 million square feet owned by third parties.
Forward Looking Statement
This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.
Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.
PRESS CONTACT
slgreen@berlinrosen.com
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