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SL Green Signs Office Leases Totaling 490,000 Square Feet During the First Two Months of 2026

MWN-AI** Summary

SL Green Realty Corp. (NYSE: SLG), the largest office landlord in Manhattan, has announced a robust leasing performance in the first two months of 2026, securing 32 office leases totaling 491,098 square feet. This activity reflects strong demand for prime office space as SL Green continues to manage a pipeline exceeding 1.0 million square feet.

Prominent among the signed leases is a significant 10-year agreement with a global investment firm for 150,036 square feet at 245 Park Avenue, encompassing the 23rd to 26th floors. This deal signifies an expansion for the investment firm, reflecting their ongoing growth needs. Another notable contraction comes from TD Securities, which signed a 10-year lease for 51,081 square feet at 125 Park Avenue, bringing its total occupancy at the property to 181,447 square feet.

Additionally, One Main General Services Corp. committed to a new 10-year lease for 38,037 square feet at 1185 Avenue of the Americas, while McDermott, Will & Schulte expanded its presence at One Vanderbilt Avenue with a 16-year lease for 29,734 square feet, totaling approximately 200,000 square feet at the location. Other tenants include UHY Advisors, which signed an 11-year lease, and Turner & Townsend, which secured a 12-year lease, further illustrating the growing demand for high-quality office spaces in Manhattan.

Steven Durels, SL Green’s Executive Vice President, remarked on the heightened demand for premium properties in prime locations, noting that rents are on the rise, and tenant concessions are beginning to tighten. As of the end of 2025, SL Green held interests in 56 properties totaling 31.4 million square feet, positioning the firm for continued success in a competitive real estate landscape.

MWN-AI** Analysis

SL Green Realty Corp. (NYSE: SLG), confidently continues to assert its dominance as Manhattan's largest office landlord amid an evolving market landscape. The company's recent announcement of signing 32 office leases totaling approximately 491,098 square feet within just the first two months of 2026 signals a robust demand for premium office spaces, particularly in iconic locations like Park Avenue and Avenue of the Americas.

As SL Green caters to a plethora of notable tenants, including global investment firms and leading advisory services, the continued expansion of these firms highlights a sustained recovery in the commercial real estate sector. This trend suggests that despite challenges in the broader economy, demand for well-located, high-quality office space remains resilient. Analysts should take note of the burgeoning tenant appetite, as evidenced by agreements signed for significant spaces and substantial lease durations, often exceeding a decade.

Furthermore, the tightening market conditions, characterized by decreasing vacancy rates and increasing rents, are pivotal indicators for potential investors. The upward pressure on rents can enhance SL Green's revenue streams, potentially leading to heightened investor interest in the REIT. Additionally, the company's current pipeline of over 1 million square feet indicates a proactive management strategy tailored to capturing ongoing market demand.

However, it’s essential to remain cautious regarding external risks—economic fluctuations, potential shifts in remote work culture, and market volatility could impact future leasing activity. Investors should monitor the management's upcoming strategic decisions and market indicators closely.

In conclusion, SL Green's recent leasing activity embodies strong fundamentals for growth, yet remains intertwined with external economic realities. Stakeholders would benefit from analyzing ongoing lease trends, market conditions, and economic signals while maintaining a diversified approach to mitigate risks associated with potential market shifts.

**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.

Source: GlobeNewswire

NEW YORK, March 02, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that the company has signed 32 Manhattan office leases totaling 491,098 square feet in just the first two months of 2026, while maintaining a current pipeline of more than 1.0 million square feet.

Notable leases signed year-to-date include:

  • A large global investment firm signed a new 10-year lease for 150,036 square feet on the entire 23rd through 26th floors at 245 Park Avenue. The lease represents expansion space for the tenant, which was represented by Evan Margolin, Joseph Messina, Gregory Lubar, Steve Spartin and Jessica Berkey at Jones Lang LaSalle. The landlord was represented by Bruce Mosler, Harry Blair, Ron LoRusso, Justin Royce and Pierce Hance of Cushman & Wakefield.

  • TD Securities signed a 10-year expansion lease for 51,081 square feet on the entire 21st and 22nd floors at 125 Park Avenue. This increases TD’s total commitment in the building to 181,447 square feet. The tenant was represented by Ryan Alexander, Matthew Saker and Nichole Marshall at CBRE. The landlord was represented by Brian Waterman, David Falk, Peter Shimkin and Daniel Levine of Newmark.

  • One Main General Services Corp signed a new 10-year lease for 38,037 square feet on the entire 35th and partial 36th floors at 1185 Avenue of the Americas. The tenant was represented by Matt Felice, Gilbert Ohls, Granson Graham of Jones Lang LaSalle. The landlord was represented by Brian Waterman, John Fanuzzi, Brent Ozarowski, David Waterman and Kevin Sullivan of Newmark.

  • McDermott, Will & Schulte signed a 16-year expansion lease for 29,734 square feet on the entire 48th floor at One Vanderbilt Avenue. This increases the tenant’s total commitment in the building to approximately 200,000 square feet. The landlord was represented by its in-house leasing team.

  • UHY Advisors Northeast, Inc. signed a new 11-year lease for 27,508 square feet on the entire 9th floor at 1185 Avenue of the Americas. The tenant was represented by Silvio Petrillo and Tamika Kramer of CBRE. The landlord was represented by Brian Waterman, John Fanuzzi, Brent Ozarowski, David Waterman and Kevin Sullivan of Newmark.

  • Turner & Townsend signed a new 12-year lease for 24,394 square feet on the entire 6th floor at 100 Park Avenue. The tenant was represented by Mary Ann Tighe, Stephen Enyon and Alessia Lawson of CBRE. The landlord was represented by Harry Blair, Barry Zeller, Justin Royce and Pierce Hance of Cushman & Wakefield.

“Tenant demand remains strong for the best buildings in the best locations as a majority of tenants continue to expand their office requirements,” said Steven Durels, SL Green’s Executive Vice President, Director of Leasing and Real Property. “Rents are rising and concessions are beginning to tighten as market vacancy moves lower across Midtown Manhattan.”

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 December 31, 2025, SL Green held interests in 56 buildings totaling 31.4 million square feet. This included ownership interests in 28.0 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 does the strong tenant demand reported by SL Green Realty Corp (SLG) in early 2026 impact its future lease negotiations and rental rates in Manhattan's competitive office market?

The strong tenant demand reported by SL Green Realty Corp in early 2026 is likely to enhance its leverage in future lease negotiations, enabling the company to command higher rental rates in Manhattan's competitive office market.

With 491,098 square feet leased in just the first two months of 2026, what strategies is SL Green Realty Corp (SLG) employing to maintain its leasing momentum and capitalize on market trends?

SL Green Realty Corp is likely leveraging competitive pricing, strategic marketing initiatives, enhanced tenant amenities, and a focus on emerging market trends to sustain its leasing momentum and attract diverse tenants in a dynamic real estate landscape.

As SL Green Realty Corp (SLG) adjusts to the tightening of concessions, how does this influence their approach to securing new tenants and retaining existing ones?

SL Green Realty Corp is likely to enhance tenant engagement strategies and optimize lease terms to attract new tenants while focusing on maintaining strong relationships with existing ones amidst reduced concessions.

Considering SL Green Realty Corp (SLG) has a current pipeline of over 1.0 million square feet, what are the long-term growth prospects and development plans for the company in the changing Manhattan real estate landscape?

SL Green Realty Corp's robust pipeline of over 1.0 million square feet positions it well to capitalize on evolving demands in the Manhattan real estate market, allowing for potential long-term growth through strategic developments and adaptive reuse projects amid changing trends.

**MWN-AI FAQ is based on asking OpenAI questions about SL Green Realty Corp (NYSE: SLG).

SL Green Realty Corp

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