SL Green Realty Corp. Sets Sights on Record-Breaking Years Ahead

SL Green Realty Corp., a leading real estate investment trust (REIT), has kicked off the new year with a bang, announcing strong earnings and outlining ambitious plans for 2025.
In its Q4 2024 conference call, Marc Holliday, Chairman and Chief Executive Officer of SL Green Realty Corp., highlighted the company's impressive performance in 2024. "It was a very exciting moment for the company in December," he said, referring to the company's investor conference held just seven weeks ago. "We achieved so much...and it was great affirmation of a strategy that we stuck to and hung in there."
One of the key highlights from the quarter was the company's leasing activity, with 188 individual deals totaling 3.6 million square feet - its third-highest leasing year ever. Holliday noted that this strong performance has set the stage for what could be some of the best years the company has had: "I think we're entering a period of time which I mentioned in December...possibly some of the best years we've had at the company possibly ever, given the dynamics of what we see in this market."
SL Green Realty Corp. also closed its opportunistic debt fund in December, with plans to deploy the funds and continue its successful debt preferred equity platform in a fully discretionary fund format. This achievement has been hailed as a "real feather in the cap" of the team and platform.
The company's occupancy levels are also on an upward trajectory, ending the year at 92.5% and projecting over 93% leased occupancy for the coming year. Holliday emphasized that when occupancy reaches the 95% range, building values increase at above-average rates, allowing the company to push rents, rein in concessions, and see further growth.
The pipeline of future deals is also looking robust, with 900,000 square feet already leased since the investor conference in December. The company has announced two significant expansions with leading companies this year, demonstrating its continued momentum.
SL Green Realty Corp.'s strong profits and transactional activity have solidified its position as a leader in the New York City real estate market. As Holliday noted, "We're getting the stuff done...and we're also immediately refilling that pipeline, which is what it's all about refilling and growing their pipeline." With such a strong foundation, 2025 looks set to be an exciting year for SL Green Realty Corp."