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 and Mori Building launched a joint venture to develop an 850,000-square-foot, 46-story office tower on Madison Avenue, with completion expected in late 2031. Demolition begins in Q3, and the building will feature extensive amenities and a Daniel Boulud–led Epicerie tenant space. The partnership highlights a longer-term NYC prime-office thesis and could boost SLG's development pipeline and fee-related income.
SL Green (SLG) has acquired the property of Restaurant Daniel for $18.5 million, establishing a long-term partnership with chef Daniel Boulud. The 20-year lease ensures the stability of the Michelin-starred restaurant while supporting Boulud's ongoing expansion efforts in global markets.
SL Green's Holliday highlights a thriving office market with low vacancy rates. Plans for redevelopment at 346 Madison Ave to be announced early next year. Holliday expresses willingness to collaborate with the new mayor on city initiatives. Boulud's restaurant partnerships bolster SL Green's reputation and market positioning. The festive atmosphere suggests optimism for future market growth and stability.
New York City office demand rose 25% year-over-year in Q4. SL Green Realty expects strong demand due to NYC job growth projections. IBM expanded its lease with SL Green, indicating confidence in office space. NYC's office occupancy is expected to exceed 93% soon. Nationally, office demand grew 12%, reflecting increased business confidence.
SL Green acquires 500 Park Avenue for $130 million, boosting its portfolio. The building features luxury tenants, enhancing SLG's market position. Leasing performance shows resilience with 140 Manhattan office leases completed. SLG's mark-to-market increased by up to 12.4% this year. Park Avenue market stability supports ongoing rental income growth.
