SL GREEN REALTY CORP
For the period ended Dec 31, 2024. Filed Feb 18, 2025.
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FY2024 · Filed Feb 18, 2025
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Item 2. Properties
Our Portfolio
General
As of December 31, 2024, we owned or held interests in 15 consolidated commercial office buildings encompassing approximately 9.6 million rentable square feet and 9 unconsolidated commercial office buildings encompassing approximately 12.2 million rentable square feet located primarily in midtown Manhattan. Many of these buildings include some amount of retail space on the lower floors, as well as basement/storage space. As of December 31, 2024, our portfolio also included ownership interests in one consolidated property, encompassing seven commercial office buildings totaling approximately 0.9 million rentable square feet, in Stamford Connecticut, which we refer to as our Suburban property. Some of these buildings also include a small amount of retail space on the lower floors, as well as basement/storage space.
As of December 31, 2024, we also owned or held interests in three prime retail properties encompassing approximately 43.4 thousand square feet, three buildings in differing stages of development or redevelopment encompassing approximately 2.3 million square feet, and two residential building encompassing 209 residential units and 484 dormitory beds, respectively, encompassing approximately 0.4 million square feet. In addition, we manage one office building and one retail building owned by a third party encompassing approximately 0.4 million square feet and held debt and preferred equity investments with a book value of $303.7 million, excluding $9.7 million of investments recorded in balance sheet line items other than the Debt and preferred equity investments line item.
The following tables set forth certain information with respect to each of the Manhattan and Suburban office, prime retail, residential, development and redevelopment properties in the portfolio as of December 31, 2024 (dollars in thousands):
| Properties · Ownership Interest (%) · SubMarket · Square Feet(1) · %Occupied(2) · %Leased(3) · Annualized ContractualCashRent ($'s) · Annualized Contractual Cash Rent SLG Share ($'s) · Total Tenants | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MANHATTAN CONSOLIDATED OFFICE PROPERTIES | ||||||||||||
| "Same Store" | ||||||||||||
| 10 East 53rd Street | 100.0 | Plaza District | 354,300 | 97.6 | 98.1 | $33,872 | $33,872 | 39 | ||||
| 100 Church Street | 100.0 | Downtown | 1,047,500 | 86.9 | 86.9 | 46,125 | 46,125 | 19 | ||||
| 100 Park Avenue | 50.0 | Grand Central South | 834,000 | 60.8 | 95.8 | 40,294 | 20,147 | 33 | ||||
| 110 Greene Street | 100.0 | Soho | 223,600 | 89.3 | 92.2 | 18,145 | 18,145 | 55 | ||||
| 125 Park Avenue | 100.0 | Grand Central | 604,245 | 95.7 | 99.5 | 46,465 | 46,465 | 23 | ||||
| 304 Park Avenue South | 100.0 | Midtown South | 215,000 | 100.0 | 100.0 | 18,741 | 18,741 | 7 | ||||
| 420 Lexington Ave (Graybar) | 100.0 | Grand Central North | 1,188,000 | 86.9 | 90.1 | 82,350 | 82,350 | 170 | ||||
| 461 Fifth Avenue | 100.0 | Midtown | 200,000 | 98.2 | 98.2 | 17,673 | 17,673 | 18 | ||||
| 485 Lexington Avenue | 100.0 | Grand Central North | 921,000 | 78.9 | 83.2 | 48,211 | 48,211 | 33 | ||||
| 555 West 57th Street | 100.0 | Midtown West | 941,000 | 88.1 | 88.1 | 51,890 | 51,890 | 12 | ||||
| 711 Third Avenue | 100.0 (4) | Grand Central North | 524,000 | 93.7 | 93.7 | 33,735 | 33,735 | 20 | ||||
| 810 Seventh Avenue | 100.0 | Times Square | 692,000 | 80.6 | 85.4 | 41,795 | 41,795 | 44 | ||||
| 1185 Avenue of the Americas | 100.0 | Rockefeller Center | 1,062,000 | 75.0 | 85.9 | 68,903 | 68,903 | 15 | ||||
| 1350 Avenue of the Americas | 100.0 | Rockefeller Center | 562,000 | 78.5 | 80.7 | 35,732 | 35,732 | 45 | ||||
| 885 Third Avenue | 100.0 | Midtown/Plaza District | 218,796 | 74.5 | 74.5 | $10,081 | $10,081 | 11 | ||||
| Subtotal / Weighted Average | 9,587,441 | 83.3% | 89.2% | $594,012 | $573,865 | 544 | ||||||
| Total / Weighted Average Manhattan Consolidated Office Properties | 9,587,441 | 83.3% | 89.2% | $594,012 | $573,865 | 544 | ||||||
| MANHATTAN UNCONSOLIDATED OFFICE PROPERTIES | ||||||||||||
| "Same Store" | ||||||||||||
| One Vanderbilt Avenue | 60.0 | Grand Central | 1,657,198 | 99.4 | 100.0 | $287,129 | $172,277 | 40 | ||||
| 11 Madison Avenue | 60.0 | Park Avenue South | 2,314,000 | 96.1 | 96.1 | 172,839 | 103,704 | 7 | ||||
| 220 East 42nd Street | 51.0 | Grand Central | 1,135,000 | 89.0 | 93.7 | 69,332 | 35,359 | 31 | ||||
| 280 Park Avenue | 50.0 | Park Avenue | 1,219,158 | 89.0 | 91.1 | 121,544 | 60,772 | 33 | ||||
| 800 Third Avenue | 60.5 | Grand Central North | 526,000 | 84.6 | 84.6 | 32,995 | 19,962 | 43 | ||||
| 919 Third Avenue | 51.0 | Grand Central North | 1,454,000 | 80.9 | 95.6 | 82,200 | 41,922 | 10 | ||||
| 1515 Broadway | 56.9 | Times Square | 1,750,000 | 99.7 | 99.7 | 139,119 | 79,159 | 7 | ||||
| 450 Park Avenue | 25.1 | Park Avenue | 337,000 | 89.3 | 89.3 | 37,886 | 9,509 | 23 | ||||
| Subtotal / Weighted Average | 10,392,356 | 92.7% | 95.6% | $943,044 | $522,664 | 194 | ||||||
| "Non Same Store" | ||||||||||||
| 245 Park Avenue | 50.1 | Park Avenue | 1,782,793 | 85.4 | 91.7 | $157,384 | $78,849 | 14 | ||||
| Subtotal / Weighted Average | 1,782,793 | 85.4% | 91.7% | $157,384 | $78,849 | 14 | ||||||
| Total / Weighted Average Manhattan Unconsolidated Office Properties | 12,175,149 | 91.6% | 95.0% | $1,100,428 | $601,513 | 208 | ||||||
| Manhattan Office Grand Total / Weighted Average | 21,762,590 | 88.0% | 92.5% | $1,694,440 | $1,175,378 | 752 | ||||||
| Manhattan Office Same Store Occupancy %—Combined | 19,979,797 | 88.2% | 92.5% | |||||||||
| Properties · Ownership Interest (%) · SubMarket · Square Feet(1) · %Occupied(2) · %Leased(3) · Annualized ContractualCashRent ($'s) · Annualized Contractual Cash Rent SLG Share ($'s) · Total Tenants | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SUBURBAN CONSOLIDATED OFFICE PROPERTIES | ||||||||||||
| "Same Store" Suburban | ||||||||||||
| Landmark Square | 100.0 | Stamford, Connecticut | 862,800 | 72.6 | 73.5 | $18,080 | $18,080 | 92 | ||||
| Subtotal/Weighted Average | 862,800 | 72.6% | 73.5% | $18,080 | $18,080 | 92 | ||||||
| Total / Weighted Average Suburban Consolidated Office Properties | 862,800 | 72.6% | 73.5% | $18,080 | $18,080 | 92 | ||||||
| Suburban Office Grand Total / Weighted Average | 862,800 | 72.6% | 73.5% | $18,080 | $18,080 | 92 | ||||||
| Properties · Ownership Interest (%) · SubMarket · Square Feet(1) · %Occupied(2) · %Leased(3) · Annualized ContractualCashRent ($'s) · Annualized Contractual Cash Rent SLG Share ($'s) · Total Tenants | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RETAIL PROPERTIES | ||||||||||||
| "Same Store" Retail | ||||||||||||
| 85 Fifth Avenue | 36.3 | Midtown South | 12,946 | 100.0 | 100.0 | $2,800 | $1,016 | 1 | ||||
| Subtotal/Weighted Average | 12,946 | 100.0% | 100.0% | $2,800 | $1,016 | 1 | ||||||
| "Non Same Store" Retail | ||||||||||||
| 690 Madison Avenue | 90.0 | Plaza District | 7,848 | 100.0 | 100.0 | $1,505 | $1,355 | 1 | ||||
| 760 Madison Avenue | 100.0 | Plaza District | 22,648 | 100.0 | 100.0 | $18,046 | $18,046 | 1 | ||||
| Subtotal/Weighted Average | $30,496 | 100.0% | 100.0% | $19,551 | $19,401 | 2 | ||||||
| Total / Weighted Average Retail Properties | 43,442 | 100.0% | 100.0% | $22,351 | $20,417 | 3 | ||||||
| Properties · Ownership Interest (%) · SubMarket · Square Feet(1) · Total Units · %Occupied(2) · %Leased(3) · Annualized ContractualCashRent ($'s) · Annualized Contractual Cash Rent SLG Share ($'s) · AverageMonthly RentPer Unit ($'s) (5) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RESIDENTIAL | |||||||||||||||
| "Non Same Store" Residential | |||||||||||||||
| 7 Dey Street | 100.0 | Lower Manhattan | 140,382 | 209 | 94.3 | 97.1 | $11,707 | $11,707 | $4,952 | ||||||
| 15 Beekman Street | 20.0 | Downtown | 221,884 | 484 | (6) | 100.0 | 100.0 | 13,810 | 2,762 | — | |||||
| Subtotal/Weighted Average | 362,266 | 693 | 98.3% | 99.1% | $25,517 | $14,469 | $4,952 | ||||||||
| Total / Weighted Average Residential Properties | 362,266 | 693 | 98.3% | 99.1% | $25,517 | $14,469 | $4,952 | ||||||||
| Properties · Ownership Interest (%) · SubMarket · Square Feet(1) · %Occupied(2) · %Leased(3) · Annualized ContractualCashRent ($'s) · Annualized Contractual Cash Rent SLG Share ($'s) · Total Tenants | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DEVELOPMENT/REDEVELOPMENT | ||||||||||||
| One Madison Avenue | 25.5 | Park Avenue South | 1,385,484 | 62.9 | 66.6 | $105,999 | $27,030 | 10 | ||||
| 19 East 65th Street | 100.0 | Plaza District | 14,639 | 5.5 | 5.5 | 32 | 32 | 1 | ||||
| 185 Broadway | 100.0 | Lower Manhattan | 50,206 | 34.5 | 34.5 | 3,454 | 3,454 | 4 | ||||
| 750 Third Avenue | 100.0 | Grand Central North | 780,000 | 9.5 | 9.5 | 6,299 | 6,300 | 9 | ||||
| Subtotal/Weighted Average | 2,230,329 | 43.2% | 45.5% | $115,784 | $36,816 | 24 | ||||||
| Total / Weighted Average Development/Redevelopment Properties | 2,230,329 | 43.2% | 45.5% | $115,784 | $36,816 | 24 | ||||||
| Properties · Ownership Interest (%) · SubMarket · Square Feet(1) · %Occupied(2) · %Leased(3) · Annualized ContractualCashRent ($'s) · Annualized Contractual Cash Rent SLG Share ($'s) · Total Tenants | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ALTERNATIVE STRATEGY PORTFOLIO | ||||||||||||
| 2 Herald Square | 95.0 | Herald Square | 369,000 | 60.3 | 60.3 | $20,291 | $19,276 | 5 | ||||
| 11 West 34th Street | 30.0 | Herald Square/Penn Station | 17,150 | 100.0 | 100.0 | 3,561 | 1,068 | 1 | ||||
| 115 Spring Street | 51.0 | Soho | 5,218 | 100.0 | 100.0 | 4,098 | 2,090 | 1 | ||||
| 650 Fifth Avenue | 50.0 | Plaza District | 69,214 | 100.0 | 100.0 | 41,308 | 20,655 | 1 | ||||
| 1552-1560 Broadway | 50.0 | Times Square | 57,718 | 12.6 | 12.6 | 2,000 | 1,000 | 1 | ||||
| Worldwide Plaza | 25.0 | Westside | 2,048,725 | 63.3 | 63.3 | 77,129 | 19,244 | 22 | ||||
| Subtotal/Weighted Average | 2,567,025 | 63.0% | 63.0% | $148,387 | $63,333 | 31 | ||||||
| Total / Weighted Average Alternative Strategy Portfolio Properties | 2,567,025 | 63.0% | 63.0% | $148,387 | $63,333 | 31 | ||||||
(1)Represents the rentable square footage at the time the property was acquired.
(2)Occupancy for commenced leases.
(3)Occupancy inclusive of leases signed but not yet commenced.
(4)The company also owns 50% of the fee interest.
(5)Calculated based on occupied units. Amount in dollars.
(6)Property occupied by Pace University and used as an academic center and dormitory space. 484 represents number of beds.
Historical Occupancy
Historically, we have achieved materially higher occupancy rates in our Manhattan office portfolio as compared to the overall midtown Manhattan office market, as shown in the following table:
| Occupancy Rate of Manhattan OperatingPortfolio (1) | Occupancy Rate of Class A Office Properties in the Midtown Manhattan Markets (2)(3) | Occupancy Rate of Class B Office Properties in the Midtown Manhattan Markets (2)(3) | |
|---|---|---|---|
| December 31, 2024 | 92.5% | 78.0% | 73.6% |
| December 31, 2023 | 89.4% | 78.4% | 75.5% |
| December 31, 2022 | 90.7% | 78.4% | 76.6% |
| December 31, 2021 | 92.1% | 80.6% | 77.1% |
| December 31, 2020 | 92.4% | 85.0% | 81.1% |
(1)Includes our consolidated and unconsolidated Manhattan office properties.
(2)Includes vacant space available for direct lease and sublease. Source: Cushman & Wakefield.
(3)The term "Class B" is generally used in the Manhattan office market to describe office properties that are more than 25 years old but that are in good physical condition, enjoy widespread acceptance by high-quality tenants and are situated in desirable locations in Manhattan. Class B office properties can be distinguished from Class A properties in that Class A properties are generally newer properties with higher finishes and frequently obtain the highest rental rates within their markets.
Lease Expirations
Leases in our Manhattan portfolio, as at many other Manhattan office properties, typically have an initial term of seven to fifteen years, compared to typical lease terms of five to ten years in other large U.S. office markets. For the five years ending December 31, 2029, the average annual lease expirations at our Manhattan consolidated and unconsolidated operating properties is expected to be approximately 0.8 million square feet and approximately 0.3 million square feet, respectively, representing an average annual expiration rate of approximately 8.9% and approximately 2.3%, respectively, per year (assuming no tenants exercise renewal or cancellation options and there are no tenant bankruptcies or other tenant defaults).
The following tables set forth a schedule of the annual lease expirations at our Manhattan consolidated and unconsolidated operating properties, respectively, with respect to leases in place as of December 31, 2024 for each of the next ten years and thereafter (assuming that no tenants exercise renewal or cancellation options and that there are no tenant bankruptcies or other tenant defaults):
| Manhattan Consolidated Operating Properties | ||||||
|---|---|---|---|---|---|---|
| Year of Lease Expiration | Number of Expiring Leases (1) | Square Footage of Expiring Leases | Percentage of Total Square Feet | Annualized Cash Rent of Expiring Leases (2) | Percentage of Annualized Cash Rent of Expiring Leases | Annualized Cash Rent per Square Foot of Expiring Leases (3) |
| 2025 | 82 | 755,344 | 9.0% | 60,710,221 | 10.3% | $80.37 |
| 2026 | 78 | 847,874 | 10.1 | 58,604,929 | 10.0 | 69.12 |
| 2027 | 80 | 808,055 | 9.7 | 65,504,055 | 11.2 | 81.06 |
| 2028 | 64 | 675,774 | 8.1 | 49,898,756 | 8.5 | 73.84 |
| 2029 | 57 | 705,732 | 8.4 | 48,572,940 | 8.3 | 68.83 |
| 2030 | 45 | 848,373 | 10.1 | 59,570,712 | 10.1 | 70.22 |
| 2031 | 26 | 423,086 | 5.1 | 31,467,856 | 5.4 | 74.38 |
| 2032 | 20 | 731,991 | 8.7 | 45,177,103 | 7.7 | 61.72 |
| 2033 | 20 | 348,403 | 4.2 | 27,643,595 | 4.7 | 79.34 |
| 2034 & thereafter | 76 | 2,225,853 | 26.6 | 139,472,014 | 23.8 | 62.66 |
| Total/weighted average | 548 | 8,370,485 | 100.0% | $586,622,181 | 100.0% | $70.08 |
(2)Represents the monthly contractual rent under existing leases as of December 31, 2024 multiplied by 12. This amount reflects total rent before any rent abatements, deferrals, concessions and includes expense reimbursements, which may be estimated as of such date.
(3)Represents Annualized Cash Rent of Expiring Leases, as described in footnote (2) above, presented on a per square foot basis.
| Manhattan Unconsolidated Operating Properties | ||||||
|---|---|---|---|---|---|---|
| Year of Lease Expiration | Number of Expiring Leases (1) | Square Footage of Expiring Leases | Percentage of Total Square Feet | Annualized Cash Rent of Expiring Leases (2) | Percentage of Annualized Cash Rent of Expiring Leases | Annualized Cash Rent per Square Foot of Expiring Leases (3) |
| 2025 | 17 | 312,979 | 2.8% | 30,453,092 | 2.8% | $97.30 |
| 2026 | 21 | 350,768 | 3.1 | 47,036,241 | 4.3 | 211.30 |
| 2027 | 17 | 222,604 | 2.0 | 31,852,679 | 2.9 | 143.09 |
| 2028 | 21 | 250,810 | 2.2 | 30,428,097 | 2.8 | 121.32 |
| 2029 | 18 | 147,621 | 1.3 | 15,378,083 | 1.4 | 104.17 |
| 2030 | 15 | 329,755 | 2.9 | 38,410,279 | 3.5 | 116.48 |
| 2031 | 15 | 2,688,738 | 23.8 | 205,643,360 | 18.7 | 76.48 |
| 2032 | 14 | 992,725 | 8.8 | 89,598,105 | 8.1 | 90.25 |
| 2033 | 11 | 250,685 | 2.2 | 28,051,255 | 2.5 | 111.90 |
| 2034 & thereafter | 65 | 5,740,480 | 50.9 | 583,552,328 | 53.0 | 101.66 |
| Total/weighted average | 214 | 11,287,165 | 100.0% | $1,100,403,519 | 100.0% | $97.49 |
(2)Represents the monthly contractual rent under existing leases as of December 31, 2024 multiplied by 12. This amount reflects total rent before any rent abatements, deferrals, concessions and includes expense reimbursements, which may be estimated as of such date.
(3)Represents Annualized Cash Rent of Expiring Leases, as described in footnote (2) above, presented on a per square foot basis.
Tenant Diversification
As of December 31, 2024, our properties were leased to 902 tenants, which are engaged in a variety of businesses, including, but not limited to, financial services, professional services, technology, advertising, media, information, apparel, business services and government/non-profit. The following table sets forth information regarding the leases with respect to the 20 largest tenants in our properties (based on commenced leases), which are not intended to be representative of our tenants as a whole, based on the amount of our share of annualized cash rent as of December 31, 2024:
| Tenant Name · Property · Lease Expiration (1) · Total Rentable Square Feet · Annualized Cash Rent · SLG Share of Annualized Cash Rent ($) · % of SLG Share of Annualized Cash Rent (2) · Annualized Cash Rent per Square Foot | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Paramount Global | 1515 Broadway | June 2031 | 1,603,121 | $107,314 | $61,062 | 4.6% | $66.94 | ||
| 555 West 57th Street | April 2029 | 186,266 | 10,790 | 10,790 | 0.8% | 57.93 | |||
| 1515 Broadway | March 2028 | 9,106 | 2,166 | 1,232 | 0.1% | 237.84 | |||
| Worldwide Plaza | January 2027 | 32,598 | 2,488 | 621 | —% | 76.34 | |||
| 1,831,091 | $122,758 | $73,705 | 5.5% | $67.04 | |||||
| UBS Americas, Inc. | 11 Madison Avenue | May 2037 | 1,184,762 | $78,221 | $46,933 | 3.5% | $66.02 | ||
| Sony Corporation | 11 Madison Avenue | January 2031 | 578,791 | $52,130 | $31,278 | 2.3% | $90.07 | ||
| Bloomberg L.P. | 919 Third Avenue | February 2040 | 749,216 | $49,782 | $25,389 | 1.9% | $66.45 | ||
| Societe Generale | 245 Park Avenue | October 2032 | 520,831 | $50,328 | $25,215 | 1.9% | $96.63 | ||
| TD Bank US Holding Company | One Vanderbilt Avenue | July 2041 | 193,159 | $26,065 | $15,639 | 1.2% | $134.94 | (3) | |
| One Vanderbilt Avenue | August 2041 | 6,843 | 3,234 | 1,940 | 0.1% | 472.58 | |||
| 125 Park Avenue | October 2025 | 6,234 | 2,129 | 2,129 | 0.2% | 341.56 | |||
| 125 Park Avenue | October 2030 | 26,536 | 1,842 | 1,842 | 0.1% | 69.40 | |||
| 125 Park Avenue | March 2034 | 25,171 | 1,612 | 1,612 | 0.1% | 64.06 | |||
| 257,943 | $34,882 | $23,162 | 1.7% | $135.23 | |||||
| The City of New York | 100 Church Street | March 2034 | 510,007 | $22,709 | $22,709 | 1.7% | $44.53 | ||
| King & Spalding | 1185 Avenue of the Americas | October 2025 | 218,275 | $21,010 | $21,010 | 1.6% | $96.25 | ||
| Carlyle Investment Management LLC | One Vanderbilt Avenue | September 2036 | 194,702 | $34,586 | $20,752 | 1.6% | $177.64 | (3) | |
| Nike Retail Services, Inc. | 650 Fifth Avenue | January 2033 | 69,214 | $41,308 | $20,654 | 1.5% | $596.82 | ||
| Metro-North Commuter Railroad Company | 420 Lexington Avenue | November 2034 | 344,873 | $20,113 | $20,113 | 1.5% | $58.32 | ||
| 420 Lexington Avenue | January 2027 | 7,537 | 448 | 448 | —% | 59.48 | |||
| 352,410 | $20,561 | $20,561 | 1.5% | $58.34 | (3) | ||||
| WME IMG, LLC | 304 Park Avenue | April 2028 | 174,069 | $13,775 | $13,775 | 1.0% | $79.13 | ||
| 11 Madison Avenue | September 2030 | 104,618 | 10,717 | 6,430 | 0.5% | 102.44 | |||
| 278,687 | $24,492 | $20,205 | 1.5% | $87.88 | |||||
| McDermott Will & Emery LLP | One Vanderbilt Avenue | December 2042 | 169,586 | $31,475 | $18,885 | 1.4% | $185.60 | ||
| 420 Lexington Avenue | October 2026 | 10,043 | 621 | 621 | —% | 61.82 | |||
| 179,629 | $32,096 | $19,506 | 1.4% | $178.68 | |||||
| Frank Templeton Companies LLC | One Madison Avenue | May 2040 | 354,976 | $48,439 | $12,351 | 0.9% | $136.45 | ||
| 280 Park Avenue | November 2031 | 128,993 | 13,565 | 6,783 | 0.5% | 105.16 | |||
| 483,969 | $62,004 | $19,134 | 1.4% | $128.12 | |||||
| Giorgio Armani Corporation | 760 Madison Avenue | October 2038 | 22,648 | $18,046 | $18,046 | 1.4% | $796.82 | ||
| Ares Management LLC | 245 Park Avenue | May 2026 | 36,316 | $3,740 | $1,874 | 0.1% | $103.00 | ||
| 245 Park Avenue | June 2043 | 251,175 | $29,869 | $14,964 | 1.1% | $118.92 | |||
| 287,491 | $33,609 | $16,838 | 1.2% | $116.90 | |||||
| Toronto Dominion Bank | One Vanderbilt Avenue | April 2042 | 142,892 | $21,302 | $12,781 | 1.0% | $149.08 | (3) | |
| 125 Park Avenue | April 2042 | 52,450 | 3,603 | 3,603 | 0.3% | 68.69 | |||
| 195,342 | $24,905 | $16,384 | 1.3% | $127.49 | |||||
| Hess Corp | 1185 Avenue of the Americas | December 2027 | 167,169 | $15,439 | $15,439 | 1.2% | $92.36 | ||
| Stone Ridge Holdings Group LP (3) | One Vanderbilt Avenue | December 2037 | 97,652 | $23,013 | $13,808 | 1.0% | 235.67 | (3) | |
| BMW of Manhattan, Inc. | 555 West 57th Street | July 2032 | 226,556 | $13,116 | $13,116 | 1.0% | $57.89 | ||
| Total | 8,406,385 | 774,997 | 483,844 | 36.1% | $92.19 | ||||
(1)Expiration of current lease term and does not reflect extension options.
(2)SLG Share of Annualized Cash Rent includes Manhattan, Suburban, Retail, Residential, Development / Redevelopment and Alternative Strategy Portfolio properties.
(3)Tenant pays rent on a net basis. Rent PSF reflects gross equivalent.
Environmental Matters
Phase I environmental site assessments have been prepared on the properties in our portfolio, in order to assess existing environmental conditions. All of the Phase I assessments met the American Society for Testing and Materials (ASTM) Standard. Under the ASTM Standard, a Phase I environmental site assessment consists of a site visit, an historical record review, a review of regulatory agency data bases and records, and interviews with on-site personnel, with the purpose of identifying potential environmental concerns associated with real estate. These environmental site assessments did not reveal any known environmental liability that we believe will have a material adverse effect on our results of operations or financial condition.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.