SL GREEN REALTY CORP Q3 FY25 Results

Summary

SL Green Realty Corp. reported a net income attributable to common stockholders of $0.34 per share for Q3 2025, compared to a net loss of $0.21 per share for the same period in 2024. FFO for the quarter was $1.58 per share, inclusive of transaction costs. The company signed 52 Manhattan office leases totaling 657,942 square feet. Manhattan same-store office occupancy increased to 92.4% as of September 30, 2025. The company expects to increase Manhattan same-store office occupancy to 93.2% by December 31, 2025.

Key Highlights

1. 1

   Net income attributable to common stockholders was $0.34 per share for the third quarter of 2025, compared to a net loss of $0.21 per share for the same period in 2024.

2. 2

   Funds from operations (FFO) reached $1.58 per share for the third quarter of 2025, net of transaction costs of $13.1 million.

3. 3

   The company signed 52 Manhattan office leases totaling 657,942 square feet during the third quarter of 2025.

4. 4

   Manhattan same-store office occupancy increased to 92.4% as of September 30, 2025, inclusive of leases signed but not yet commenced.

5. 5

   SL Green entered into a contract to purchase Park Avenue Tower for $730.0 million, expected to close in the first quarter of 2026.

6. 6

   The company closed on the sale of a 5.0% interest in One Vanderbilt Avenue to Mori Building Co., Ltd. for a gross asset valuation of $4.7 billion, generating proceeds of $86.6 million.

7. 7

   A net gain on discounted debt extinguishment of $57.2 million was recorded in the third quarter of 2025 related to 1552-1560 Broadway.