SL Green’s 2026 Office Leasing Reaches Nearly 1.8 Million Square Feet

SL Green highlights rising 2026 leasing volumes, higher rents and full occupancy at key Manhattan tower assets.

Rhea-AI Summary

SL Green (SLG) reports that in 2026 it has signed 129 Manhattan office leases totaling 1,760,649 square feet, with average rents on these spaces 15.8% above the previous fully escalated rents.

The company’s current office leasing pipeline exceeds 1.0 million square feet. Recent activity includes a 5-year renewal by IMG Worldwide for 90,202 square feet at 304 Park Avenue South, and a new 8-year lease by Nearwater Management for 37,563 square feet at 245 Park Avenue, bringing that building to 100% leased. Greenberg Traurig expanded its space at One Vanderbilt Avenue to a total of 133,365 square feet, with that building also remaining 100% leased. As of June 30, 2026, SL Green held interests in 54 buildings totaling 30.6 million square feet.

Positive

• 129 leases signed in 2026 totaling 1,760,649 sq ft in Manhattan
• New rents on 2026 lease signings are 15.8% higher than prior fully escalated rents
• Current office leasing pipeline exceeds 1.0 million sq ft
• 245 Park Avenue reported as 100% leased after Nearwater Management deal
• One Vanderbilt Avenue reported as 100% leased with Greenberg Traurig expansion
• SL Green holds interests in 54 buildings totaling 30.6 million sq ft as of June 30, 2026

Negative

• None.

Market Context

A prior leasing announcement recorded a 6.96% 24-hour move on Jul 22, providing a directly comparabl...

Analysis

A prior leasing announcement recorded a 6.96% 24-hour move on Jul 22, providing a directly comparable market datapoint. This update extended that leasing progression with 1,760,649 square feet signed and a pipeline exceeding 1.0 million square feet.

Key Figures

Leases signed: 129 leases Leasing volume: 1,760,649 square feet Mark-to-market: 15.8% higher +5 more

Leases signed

129 leases

2026 year to date

Leasing volume

1,760,649 square feet

2026 year to date

Mark-to-market

15.8% higher

Compared with previous fully escalated rents

Leasing pipeline

More than 1.0 million square feet

Current office leasing pipeline

Nearwater lease term

8 years

37,563-square-foot lease at 245 Park Avenue

245 Park Avenue occupancy

100% leased

Following the Nearwater Management lease

Greenberg Traurig lease term

10.5 years

33,477-square-foot expansion at One Vanderbilt Avenue

Greenberg Traurig commitment

133,365 square feet

Total commitment within One Vanderbilt Avenue

Historical Context

1 past event · Latest: Jul 22

1 event

1. Jul 22

   Office leasing

   24h Move

   +7.0%

   Signed 98,420-square-foot lease, lifting 2026 volume and pipeline above reported thresholds.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

mark-to-market, reit, fully escalated rents

3 terms

mark-to-market financial

"with a mark-to-market 15.8% higher than the previous fully escalated rents"

"Mark-to-market" is a method of valuing assets or investments based on their current market price, rather than their original cost or value. It helps investors see the most up-to-date worth of their holdings, much like checking the latest price of a stock before deciding to buy or sell. This approach ensures that financial statements reflect real-time value, providing a clearer picture of overall financial health.

reit financial

"is a fully integrated real estate investment trust, or REIT"

A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.

fully escalated rents financial

"the previous fully escalated rents on the same spaces"

Fully escalated rents are the projected rental payments on a lease after all contractual increases and automatic adjustments have been applied, such as scheduled step-ups, index-linked rises (like CPI), or rent resets to market levels. Think of it as the future “mature” rent a landlord expects to receive once every agreed increase has taken effect; investors use it to estimate long-term income, property value, and yield.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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245 Park Avenue 100% Leased

NEW YORK, Sept. 14, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that the Company has signed 129 Manhattan office leases totaling 1,760,649 square feet to date in 2026 with a mark-to-market 15.8% higher than the previous fully escalated rents on the same spaces. The Company’s current office leasing pipeline has increased to more than 1.0 million square feet.

Notable leases signed since the second quarter of 2026 include:

• IMG Worldwide LLC signed a 5-year renewal lease for 90,202 square feet at 304 Park Avenue South. The tenant was represented by Brian Goldman, Matthew Leon and Jason Perla of Newmark together with John Mambrino and David Providenti of Savills.
  
  
• Nearwater Management LLC signed a new 8-year lease for 37,563 square feet on the entire 28^th floor at 245 Park Avenue, bringing the building to 100% leased. The tenant was represented by Alexander Chudnoff and Harrison Potter of Jones Lang LaSalle. The landlord was represented by Bruce Mosler, Harry Blair, Ron LoRusso, Justin Royce and Pierce Hance of Cushman & Wakefield.
  
  
• Greenberg Traurig LLP signed a 10.5-year expansion lease covering 33,477 square feet on the entire 33^rd floor at One Vanderbilt Avenue. This increases the tenant’s total commitment within the building to 133,365 square feet. The building remains 100% leased. The tenant was represented by Michael Monahan and Mark Ravesloot of CBRE.
  
  
• Oceansound Partners LP signed a new 5-year lease covering 32,032 square feet on all of floors 8, 22 and 23 at 450 Park Avenue. The tenant was represented by John Johnson of Savills. The landlord was represented by Paul Amrich, Neil King, Alex D’Amario, Matthew Dichter and Brooke Dewing of CBRE.
  

“Strong leasing momentum continues unabated with many tenants expanding and making significant capital investment to provide upscale work environments to better recruit and retain employee talent," said Steven Durels, SL Green’s Executive Vice President, Director of Leasing and Real Property.

About SL Green
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.

SLG – LEAS

Press Contact
slgreen@berlinrosen.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Which recent tenant leases did SL Green highlight in its 2026 activity?

Recent leases include a 5-year renewal by IMG Worldwide LLC for 90,202 square feet at 304 Park Avenue South, a new 8-year lease by Nearwater Management LLC for 37,563 square feet on the 28th floor at 245 Park Avenue, a 10.5-year expansion by Greenberg Traurig LLP for 33,477 square feet on the 33rd floor at One Vanderbilt Avenue, and a new 5-year lease by Oceansound Partners LP for 32,032 square feet across floors 8, 22 and 23 at 450 Park Avenue.

How large is SL Green’s overall Manhattan portfolio as of June 30, 2026?

As of June 30, 2026, SL Green held interests in 54 buildings totaling 30.6 million square feet, including ownership interests in 29.2 million square feet and 1.4 million square feet securing debt and preferred equity investments, and it managed 4 buildings owned by third parties totaling 0.9 million square feet.