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High materiality9/10

SL Green signs 98,420 sf AI lease at 11 Madison Avenue, signaling demand

Jul 22, 2026, 4:17 PM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Positive leasing velocity at a flagship asset improves occupancy, reduces near-term vacancy risk, and can support rent cadence and NAV/FFO visibility; aligns with prior AI tenant clustering trends in Manhattan.

AI summary

What happened, with direct paths to the underlying reporting

SL Green reported a 10-year lease for 98,420 sq ft on the 11th floor of 11 Madison Avenue by a leading AI tenant, lifting 2026 leasing to 1.48 million sq ft with a pipeline exceeding 900,000 sq ft. The deal reinforces AI/tech demand for premier Manhattan offices and supports occupancy for 11 Madison and nearby assets, signaling potential ongoing rent strength.

AI tenant signs 98,420 sf lease on 11th floor, 11 Madison Ave. Signals demand.
SLG has leased 1,478,673 sf in 2026; pipeline >900,000 sf. Momentum persists.
11 Madison Ave fully leased; One Madison adjacent ~1.4M sf inventory also leased.
AI/tech tenant roster includes Sony, UBS, Jim Beam, WME, Pinterest.
As of Jun 30, 2026, SL Green owns 54 buildings totaling 30.6M sf.

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