Quarterly ResultApr 15, 2026, 04:17 PM
SLG Q1 2026 Net Loss $1.20/Share; Record Leasing Volume
AI Summary
SL Green Realty Corp reported a net loss of $1.20 per share and FFO of $0.84 per share for Q1 2026, compared to a net loss of $0.30 and FFO of $1.40 per share in Q1 2025. Despite the financial decline, the company achieved record Manhattan office leasing volume of 929,264 square feet, a 16.1% mark-to-market increase, and 2.6% same-store cash NOI growth. SLG also reaffirmed its 2026 FFO guidance and completed significant asset sales and debt refinancing.
Key Highlights
- Q1 2026 net loss of $1.20 per share; FFO of $0.84 per share.
- Signed 929,264 sq ft of Manhattan office leases, a Q1 record.
- Manhattan office leases mark-to-market 16.1% higher than previous rents.
- Manhattan same-store cash NOI increased 2.6% for Q1 2026.
- Sold 690 Madison Avenue for $54.5M and contracted 7 Dey Street for $222.6M.