SL Green Realty

What SL Green Realty does

SL Green Realty Corp. (NYSE: SLG) is a fully integrated real estate investment trust and Manhattan's largest office landlord, founded in 1997 and headquartered at One Vanderbilt Avenue, New York. As of March 31, 2026, the company holds interests in 55 Manhattan buildings totaling 30.8 million square feet, including ownership interests in 29.4 million square feet and 1.4 million square feet securing debt and preferred equity investments, plus 3 managed buildings totaling 0.8 million square feet owned by third parties. The portfolio spans trophy and Class A office properties concentrated near Grand Central Terminal and Madison Square Park, with signature assets including One Vanderbilt (completed 2021) and One Madison Avenue (completed December 2024), both 100% leased.

The company operates a vertically integrated platform spanning acquisitions, development, construction, leasing, property management, and debt fund investments. Revenue is generated through multiple streams: commercial office rental revenue (including base rent, escalation revenues, and reimbursement revenues from a portfolio achieving 94.4% same-store occupancy and average starting rents of $105.12 per rentable square foot); SUMMIT Observatory operations at One Vanderbilt (a hospitality/observation venue with planned Paris expansion in summer 2027); fee income from the Green Property Services third-party asset management platform; and investment income from the $1.3 billion debt fund and Green Loan Services LLC's $31.9 billion special servicing portfolio.

SL Green's customer base consists of enterprise tenants across financial services, technology/AI (including IBM, Palo Alto Networks, Harvey AI, Clay Labs, FanDuel), and professional services, with average lease terms of 9.8 years. Distribution is direct through a 25+ person in-house leasing team supplemented by major broker relationships (JLL, Newmark). The company pursues active capital recycling through a $2.5 billion 2026 disposition program while developing new trophy supply (346 Madison Avenue JV with Mori Building) and growing third-party fee income streams. FY2024 revenue was $886.3 million with Q1 2026 revenue of $253.08 million (up 5.5% YoY), and the company maintains 29 consecutive years of dividend payments.

Name

SL Green Realty

Legal name

SL Green Realty Corp.

Website

https://slgreen.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

SL Green Realty Corp. (NYSE: SLG) is a fully integrated REIT and Manhattan's largest office landlord, holding interests in 55 buildings totaling 30.8 million square feet, serving enterprise tenants across financial services, technology/AI, and professional services sectors.

Ownership category

akta.pro rank

Product category

Commercial Office Real Estate

NAICS

Lessors of Other Real Estate Property (53119), Real Estate Property Managers (53131)

SIC

Real Estate Investment Trusts (6798), Lessors Of Real Property, Nec (6519)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

Keywords

• Commercial office leasing
• Manhattan office properties
• Trophy office buildings
• Real estate investment trust
• Property asset management

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Others, Technology or R&D

Revenue model

1. Commercial Office Rental Revenue: Primary revenue stream from leasing office and retail space in Manhattan properties. Revenue includes base rent, escalation revenues, and reimbursement revenues.
2. SUMMIT Observatory Operations: Revenue from operating the SUMMIT observation venue at One Vanderbilt, retained as NYC's top attraction with international expansion planned to Paris.
3. Fee Income: Asset management and leasing fee income from third-party property management through Green Property Services platform, including the $1.3 billion debt fund investments.
4. Investment Income: Income from debt and preferred equity investments, and debt fund investments. Green Loan Services LLC serves as special servicer on $31.9 billion in loans.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

SL Green Realty Corp. is a fully integrated real estate investment trust (REIT) that owns, develops, leases, and manages Class A and trophy office properties in Manhattan. The company holds interests in 55 buildings totaling 30.8 million square feet, generating revenue through commercial office rental income, third-party asset management via Green Property Services, large loan special servicing through Green Loan Services LLC, boutique office space via Emerge212, and the SUMMIT observation deck at One Vanderbilt.

Product overview

SL Green Realty Corp is a fully integrated REIT and Manhattan's largest office landlord, holding interests in 55 buildings totaling 30.8 million square feet as of March 2026. The company's product portfolio centers on commercial office properties (including trophy towers One Vanderbilt and One Madison), third-party asset management services via Green Property Services, large loan special servicing through subsidiary Green Loan Services LLC ($31.9B in serviced loans), boutique office space via Emerge212, and hospitality amenities including the SUMMIT observation deck. The company generates revenue through office leasing, property management, development, and debt fund investments.

Differentiator

Problem solved

Functional benefit

Products and services

• One Vanderbilt Avenue Trophy Class-A office tower located opposite Grand Central Terminal, featuring column-free floors, abundant natural daylight, premium amenities including a tenant-only observatory experience, and currently 100% leased.
• One Madison Avenue Adaptive reuse office tower overlooking Madison Square Park featuring a transformed nine-story podium with new 550,000 sq ft tower above, wellness-driven amenities, and 100% occupancy with tech/AI tenants including IBM and Harvey AI.
• 346 Madison Avenue (Development) Planned 46-story, 850,000 square foot all-electric trophy office tower one block from Grand Central Terminal, designed by KPF with terrace levels, wellness center, and restaurant by Daniel Boulud; JV with Mori Building.
• Green Property Services - Third-Party Asset Management Third-party asset management and leasing services platform providing comprehensive leasing and asset management services to third-party property owners, such as Hyundai Motor Group for 15 Laight Street (109,000 SF in Tribeca).
• Green Loan Services LLC Rated large loan special servicer approved by KBRA, S&P, Fitch, and Morningstar; named special servicer on $31.9 billion of loans nationally across all product types, providing CMBS loan servicing.
• Emerge212 Boutique office space subsidiary offering innovative, hospitality-inspired workspace solutions for businesses seeking Class A quality without typical office lease overhead.
• SUMMIT Observation Deck Observatory venue at One Vanderbilt offering immersive AI-powered experiences with city views; retained position as NYC's top attraction with international expansion to Paris planned for summer 2027.

Quantifiable outcome

• 94.4% Manhattan same-store office occupancy (March 2026), targeting 95% by year-end
• +4 more outcomes

Named customers10 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and strategic.

• Mori Building Co., Ltd.coreStrategic or Co-development Partner · 27 May 2026SL Green closed on sale of 49% JV interest in 346 Madison Avenue development to Mori Building at $175M gross valuation. SL Green retains 51% stake and serves as development and leasing manager. The 46-floor trophy office tower (850,000 SF) is designed by KPF and represents Mori Building's first development project in New York.
• Hyundai Motor GroupcoreStrategic or Co-development Partner · 28 April 2026SL Green secured asset management and leasing assignment for 109,000 SF 15 Laight Street in Tribeca through its $1.3B debt fund. Green Property Services platform providing comprehensive leasing and asset management services.
• Kohn Pedersen Fox (KPF)coreStrategic or Co-development PartnerArchitecture firm for One Madison Avenue (award-winning adaptive reuse) and 346 Madison Avenue (46-story tower). Partnership includes One Vanderbilt as well.
• Daniel Boulud / Dinex GroupstrategicStrategic or Co-development PartnerMichelin-starred chef partnership for restaurant concepts at SL Green properties including Le Pavillon at One Vanderbilt, La Tête d'Or at One Madison, and épicerie at 346 Madison. Represents strategic hospitality-driven workplace strategy.
• Wharton Properties (Jeff Sutton)strategicStrategic or Co-development PartnerJoint venture partner on 690 Madison Avenue sale ($54.5M). Long-term partnership for Manhattan retail property ownership.
• GO ResidentialstrategicStrategic or Co-development PartnerBuyer of residential and retail components at 7 Dey Street for $222.6M. SL Green retained office component ownership.
• Meadow PartnersstrategicStrategic or Co-development PartnerBuyer of 10 East 53rd Street for $312.2M. Vertically integrated real estate investment manager specializing in global middle-market transactions.
• Rockwell GroupstrategicStrategic or Co-development PartnerDesign firm for One Madison Avenue amenities including Le Jardin Sur Madison event space and rooftop garden.
• SMI Landscape ArchitecturestrategicStrategic or Co-development PartnerDesigned rooftop garden at One Madison Avenue.
• VoconstrategicStrategic or Co-development PartnerDesigned The Commons, 7,000 SF tenant-only lounge at One Madison Avenue.

Scale indicators8 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Empire State Realty Trust: NYSE-listed REIT (ESRT) focused on office and retail properties in NYC and the Northeast, including the Empire State Building. A direct competitor for NYC office tenants with overlapping Manhattan portfolio exposure.
• Boston Properties (BXP): Nation's largest publicly traded developer and owner of Class A office properties (BXP), with significant NYC presence including 55 Hudson Yards and major Boston, DC, and West Coast assets. Direct competitor for trophy office tenants and a benchmark for Class A office REIT operations.
• Hudson Pacific Properties: NYSE-listed REIT (HPP) focused on office and studio properties on the U.S. West Coast (LA, SF, Seattle). Direct peer in Class A office REIT space with similar tech-tenant exposure, though serving different geography.
• Kilroy Realty Corporation: NYSE-listed REIT (KRC) focused on Class A office and life science properties on the U.S. West Coast. Direct peer in Class A office REIT space with similar trophy-quality, amenity-rich strategy serving enterprise tech tenants.
• Cousins Properties: NYSE-listed REIT (CUZ) focused on trophy office properties in Sunbelt growth markets (Atlanta, Austin, Charlotte, Dallas). Comparable as a Class A office REIT with similar best-in-class strategy, though in different geographies.
• Highwoods Properties: NYSE-listed REIT (HIW) operating best-in-class office properties in high-growth Sunbelt markets. Comparable Class A office REIT with similar focus on tenant amenity and workplace experience, though geographically distinct from SL Green.
• Paramount Group: NYSE-listed REIT (PGRE) owning Class A office properties primarily in Manhattan and San Francisco. Directly competes for trophy Manhattan tenants and operates with a similar concentrated, high-end office strategy.
• Vornado Realty Trust: NYSE-listed REIT (VNO) and one of SL Green's closest direct competitors, owning a portfolio of Manhattan office properties concentrated in the Penn District and Midtown. Directly comparable as a public Manhattan-focused office REIT with similar tenant base.
• Tishman Speyer: Privately held global real estate owner, developer, and operator with major Manhattan trophy assets (Rockefeller Center, 45 East 22nd Street, Spiral at 66 Hudson Boulevard). Directly comparable as a Manhattan-focused trophy office owner/developer with similar tenant profile.

Broad incumbents

• Brookfield Property Group: Subsidiary of Brookfield Asset Management owning one of the world's largest commercial real estate portfolios, including significant Manhattan office holdings. A broad incumbent offering overlapping capabilities across office, retail, multifamily, and logistics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/slgreen
• Facebookfacebook.com/SLGreenRealtyCorp
• LinkedInlinkedin.com/company/sl-green
• Instagraminstagram.com/slgreen_realty

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SL Green Realty