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SL Green lifts NYC office occupancy to 94.7% in Q2 2026
The REIT posted $264 million in Q2 revenue, up 9% year over year, alongside $109.6 million of funds from operations.
SL Green reported improved leasing and occupancy for its New York office portfolio after an earnings update on Thursday, saying its occupancy rate rose to 94.7 percent in the second quarter of 2026 from 94.4 percent a year earlier, according to Commercial Observer. The outlet said the REIT increased total revenue to $264 million in Q2 2026, up from $241 million in Q2 2025, a 9 percent jump. SL Green also reported funds from operations of $109.6 million, or $1.43 per share, versus $124.5 million, or $1.63 per share, in the prior year quarter.
Commercial Observer further reported that SL Green recorded a net loss of $26.5 million, or 38 cents per share, compared with a net loss of $11.1 million, or 16 cents per share, one year earlier. It said the company signed 53 Manhattan office leases in Q2 totaling 445,161 square feet, with an average rent of $93.17 per square foot and average lease term of 5.8 years.
The earnings call also highlighted leasing momentum, with the REIT citing a scarcity of premier space in desirable Midtown districts, the outlet reported. It said SL Green expects to exceed its internal leasing goals by year end and described several Q2 deals, including a 98,420-square-foot, 10-year lease at 11 Madison Avenue by a major AI firm and a new 10-year lease for 19,966 square feet at 711 Third Avenue by Fidelity National Title Insurance.