SL Green Realty Corp ( (SLG) ) has released its Q1 earnings. Here is a breakdown of the information SL Green Realty Corp presented to its investors.
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SL Green Realty Corp., a prominent real estate investment trust (REIT), is a leading player in the Manhattan commercial property market, specializing in the acquisition, management, and enhancement of office spaces. As of March 31, 2025, the company held interests in 55 buildings, totaling 30.8 million square feet.
In its first-quarter 2025 earnings report, SL Green Realty Corp. announced a net loss of $0.30 per share, a significant decline from a net income of $0.20 per share in the same period of 2024. Despite this, the company reported funds from operations (FFO) of $1.40 per share, reflecting its ongoing operational activities.
Key financial highlights include a 2.4% increase in same-store cash net operating income, excluding lease termination income, and a robust leasing activity with 45 new office leases signed in Manhattan, covering over 600,000 square feet. The company also completed significant investment transactions, including the acquisition of 500 Park Avenue and the sale of six Giorgio Armani Residences, generating substantial proceeds.
Looking forward, SL Green Realty Corp. aims to increase its Manhattan office occupancy to 93.2% by the end of 2025, supported by a strong pipeline of prospective leases. The company continues to focus on strategic investments and asset management to enhance its portfolio value and maintain its leadership in the New York real estate market.