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SLGBullishCorporate Developmentsnews
High materiality8/10

SL Green's 1185 Sixth Ave hits 92% occupancy on new and renewed leases

Jul 26, 2026, 3:00 PM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

Positive leasing activity and a near-term occupancy upgrade bolster NOI visibility and asset quality, potentially supporting a near-term multiple expansion for SLG; the impact is meaningful but moderate given the size of the asset relative to SLG’s portfolio.

AI summary

What happened, with direct paths to the underlying reporting

SL Green Realty Corp. disclosed two leases totaling about 57,000 square feet at 1185 Sixth Ave, lifting occupancy to roughly 92% of the 1.1 million-square-foot tower. The deals include Ryan Specialty’s renewal/expansion and Solil Management’s new lease, plus Moroccanoil taking 37,000 square feet from a nearby building. The asset upgrade and strong leasing momentum point to improved near-term cash flow and asset quality.

  • SLG signs ~57k sf at 1185 Sixth Ave. Tower now ~92% leased.
  • Ryan Specialty renews 29,166 sf; Solil Management takes 27,508 sf. Leases boost near-term NOI.
  • Moroccanoil signs 37,000 sf, relocating from 135 E. 57th St. Expansion broadens tenant mix.
  • Tower upgrades (lobby, elevators, corridors) completed to enhance asset quality.

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