One Madison

SL Green Realty Corp. Reports Fourth Quarter 2023 EPS of ($2.45) per Share; and FFO of $0.72 per Share After Non-Recurring Charges

Retrieved on: 
Wednesday, January 24, 2024

NEW YORK, Jan. 24, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (the "Company") (NYSE: SLG) today reported a net loss attributable to common stockholders for the quarter ended December 31, 2023 of $155.6 million, or $2.45 per share, as compared to a net loss of $64.3 million, or $1.01 per share, for the same quarter in 2022. Net loss for the fourth quarter of 2023 included $105.8 million, or $1.53 per share, of non-recurring charges comprised of depreciable real estate reserves, non-cash fair value adjustments on mark-to-market derivatives and general and administrative charges and was net of $49.1 million, or $0.71 per share, of depreciation and amortization.

Key Points: 
  • Net loss for the fourth quarter of 2023 included $1.53 per share of non-recurring charges and $0.71 per share of depreciation and amortization.
  • As of December 31, 2023, the value of the Company's derivatives, at share, net of the mark-to-market derivatives that negatively impacted FFO, was $32.9 million.
  • Manhattan same-store office occupancy increased to 90.0% as of December 31, 2023 inclusive of leases signed but not yet commenced.
  • As of December 31, 2023, SL Green held interests in 58 buildings totaling 32.5 million square feet.

SL Green Celebrates the Topping Out of One Madison Avenue in Midtown South

Retrieved on: 
Tuesday, December 13, 2022

NEW YORK, Dec. 13, 2022 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), New York City’s largest office landlord, together with its joint venture partners including the National Pension Service of Korea and Hines, today announced the topping out of its transformative One Madison Avenue office tower, located at the corner of 23rd Street and Madison Avenue, in Manhattan’s desirable Midtown South submarket. With construction managed by AECOM Tishman and designed by architects Kohn Pedersen Fox, the project is anticipated to be completed on-schedule in November 2023. One Madison Avenue is currently 55% leased, drawing interest from leading technology and financial service firms seeking premier office space in the heart of the city.

Key Points: 
  • “Chef Daniel Boulud will bring an exciting new French market and his first steakhouse to One Madison.
  • “One Madison Avenue continues SL Green’s transformative vision of Manhattan East and once again we’re honored to be part of that transformation,” said Jay Badame, President, Construction Management, AECOM.
  • Chef Boulud will bring to life a European petit marché located on 23rd Street between Madison Avenue and Park Avenue South.
  • As of September 30, 2022, SL Green held interests in 62 buildings totaling 33.6 million square feet.

IBM to Anchor SL Green’s Transformative New Development at One Madison Avenue

Retrieved on: 
Tuesday, March 15, 2022

One Madison Avenue is SL Greens latest world-class development scheduled for completion in November 2023.

Key Points: 
  • One Madison Avenue is SL Greens latest world-class development scheduled for completion in November 2023.
  • Were extremely proud to welcome IBM to One Madison Avenue.
  • IBM is an ideal anchor tenant for One Madison, which was designed for exactly this kind of forward-thinking office user, said Andrew Mathias, President of SL Green.
  • We are delighted to be making One Madison Avenue the new home for IBM in New York City, where we have such a proud history, said Joanne Wright, IBMs vice president of enterprise operations and services.