SL Green Office Leasing Volume Exceeds 1.9 Million Square Feet

Rhea-AI Summary

SL Green Realty (NYSE: SLG) reported signed Manhattan office leases totaling 1,924,364 sq ft year-to-date 2025 and a current leasing pipeline of more than 1.0M sq ft. Key 3Q/early 4Q deals raised One Madison Avenue leased occupancy to 91.2%, including a 92,663 sq ft 10-year lease to Harvey AI, a 92,663 sq ft 10-year financial services expansion, and an 11-year, 64,077 sq ft lease to Sigma Computing. Additional material deals include a 15-year, 66,106 sq ft NYS OGS expansion at 919 Third Avenue and multi-floor renewals/expansions at 280 Park Avenue.

Company commentary highlights robust Midtown demand and rising rents as submarket supply tightens.

Positive

• Signed 1,924,364 sq ft of Manhattan leases YTD 2025
• Leasing pipeline exceeds 1.0 million sq ft
• One Madison leased occupancy increased to 91.2%
• NYS OGS 15-year expansion adds 66,106 sq ft (117,390 sq ft total in building)

Negative

• None.

Insights

Commercial Real Estate Leasing Strategist

Strong 2025 Manhattan leasing: >1.9M sq ft signed and One Madison occupancy rose to 91.2%.

The transactions reported total 1,924,364 square feet signed year-to-date in 2025, with a current pipeline of more than 1.0 million square feet and three new leases at One Madison Avenue that raised that building's leased occupancy to 91.2%. Large tenancy commitments include multi-floor, multi-year deals: a 10-year, 92,663-square-foot lease; a second 10-year, 92,663-square-foot expansion; and an 11-year, 64,077-square-foot lease, all explicitly listed. These facts point to sizable demand and meaningful near-term cashflow visibility for the landlord at the building and portfolio level as shown by the reported lease terms and square footage.

One Madison Avenue Occupancy Increased to 91.2%

NEW YORK, Oct. 15, 2025 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that the company has signed Manhattan office leases totaling 1,924,364 square feet to date in 2025, while maintaining a current pipeline of more than 1.0 million square feet.

Notable leases signed during the third quarter and to date in the fourth quarter of 2025 include:

• At One Madison Avenue:
  
  
  • Harvey AI Corporation, a cutting-edge Domain-specific AI for law firms, professional service providers, and Fortune 500 companies, signed a new 10-year lease covering 92,663 square feet on the entire 6^th floor. The tenant was represented by Joseph Messina and Todd Stracci at JLL, and the landlord was represented by Paul Glickman, Alexander Chudnoff, Ben Bass and Diana Biasotti of JLL.
    
    
  • A financial services company signed a 10-year expansion lease covering 92,663 square feet on the entire 5^th floor. The tenant was represented by Todd Stracci of JLL, and the landlord was represented by Paul Glickman, Alexander Chudnoff, Ben Bass and Diana Biasotti of JLL.
    
    
  • Sigma Computing, Inc, a cloud-native BI and analytics platform that empowers business users to dive into data and make discoveries without needing SQL expertise, has signed a new 11-year lease covering 64,077 square feet on a portion of the 3^rd floor. The tenant was represented by Brent Ozarowski of Newmark, and the landlord was represented by Paul Glickman, Alexander Chudnoff, Ben Bass and Diana Biasotti of JLL.
    
    
  • These three transactions have increased the leased occupancy at One Madison Avenue to 91.2%.
    
    
• The NYS Office of General Services has signed a 15-year expansion lease covering 66,106 square feet on the 44^th and 46^th floors at 919 Third Avenue. This increases the tenant’s total commitment within the building to 117,390 square feet. The tenant was represented by Stephen Siegel, Liz Lash, Peter Larkin and Mark Bezold and at CBRE. The landlord was represented by Robert Alexander, Ryan Alexander, Emily Chabrier, Taylor Callahan, Alex D’Amario and Nicole Marshal at CBRE.
  
  
• Teneo Holdings LLC, a global CEO advisory firm, has signed a 10-year renewal lease covering 46,551 square feet on the entire 4^th floor at 280 Park Avenue. The tenant was represented by Matthew McBride of CBRE.
  
  
• Sagard Capital Partners Management Corp., a global multi-strategy alternative asset management firm, has signed a 10-year renewal and expansion lease covering 40,516 square feet on the 33^rd and 34^th floors at 280 Park Avenue. The tenant was represented by Noel Flagg and E.N. Cutler of Newmark, and the landlord was represented by Peter Turchin, Gregg Rothkin, Hanna Gerard and Brad Auerbach at CBRE.
  

“Tenant demand remains robust in both Midtown Manhattan and Midtown South," said Steven Durels, SL Green’s Executive Vice President, Director of Leasing and Real Property. “Rents are rising as supply tightens in both of these submarkets, with particular strength in the Park Avenue and Sixth Avenue corridors.”

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 September 30, 2025, SL Green held interests in 53 buildings totaling 30.7 million square feet. This included ownership interests in 27.1 million square feet of Manhattan buildings and 2.7 million square feet securing debt and preferred equity investments.

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

SLG–LEAS

FAQ

How much office space has SL Green (SLG) leased in Manhattan in 2025?

SL Green has signed 1,924,364 square feet of Manhattan office leases year-to-date 2025.

What is the current leased occupancy at One Madison Avenue (SLG) after the 2025 deals?

Leased occupancy at One Madison Avenue increased to 91.2% following the recent transactions.

Which major tenants signed long-term leases at One Madison Avenue in 2025 for SLG?

Harvey AI signed a 10-year, 92,663 sq ft lease, a financial services company signed a 10-year, 92,663 sq ft expansion, and Sigma Computing signed an 11-year, 64,077 sq ft lease.

What significant government tenant expansion did SLG announce in October 2025?

The NYS Office of General Services signed a 15-year expansion lease for 66,106 sq ft at 919 Third Avenue, bringing its total in the building to 117,390 sq ft.

How does SLG describe market conditions in Midtown following the leasing activity?

SLG said tenant demand is robust and rents are rising as supply tightens in Midtown Manhattan and Midtown South.

Does SLG have additional leasing opportunities beyond signed deals in 2025?

Yes, SLG reported a current leasing pipeline of more than 1.0 million square feet.