SL Green Realty Corp ( (SLG) ) has released its Q2 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 leading real estate investment trust (REIT) focused on Manhattan commercial properties, reported its second-quarter 2025 earnings with a net loss of $0.16 per share and funds from operations (FFO) of $1.63 per share. The company, which holds interests in 53 buildings totaling 30.7 million square feet, is known for its extensive portfolio in Manhattan’s real estate market.
In the second quarter of 2025, SL Green Realty Corp. experienced a net loss attributable to common stockholders of $11.1 million, or $0.16 per share, compared to a net loss of $2.2 million, or $0.04 per share, in the same period of 2024. The company’s FFO was reported at $1.63 per share, down from $2.05 per share in the previous year, reflecting negative non-cash fair value adjustments on mark-to-market derivatives.
Key highlights from the quarter include the signing of 46 Manhattan office leases totaling 541,721 square feet, with a mark-to-market increase of 2.4% on these leases. The company’s same-store cash net operating income (NOI) decreased by 1.0% for the quarter but increased by 0.7% for the first half of the year. Additionally, SL Green’s commercial mortgage investment in 522 Fifth Avenue was repaid, generating net proceeds of $196.6 million.
The company also engaged in significant investment activities, including the sale of 85 Fifth Avenue and the acquisition of a 49.9% interest in 100 Park Avenue. SL Green’s special servicing business saw an increase of $1.3 billion in active assignments, totaling $6.1 billion.
Looking ahead, SL Green Realty Corp. has increased its 2025 earnings guidance range for FFO per share to $5.65 to $5.95, reflecting incremental income from its debt and preferred equity portfolio. The company remains focused on enhancing its Manhattan office occupancy and maximizing the value of its commercial properties.