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Jun 30, 2023
SL Green Q2 2023 Earnings Report
Reported a net loss due to write down of leasehold interest and net losses from sale of real estate interests and non-cash fair value adjustments, but leasing activity remained significant.
Key Takeaways
SL Green Realty Corp. reported a net loss attributable to common stockholders of $5.63 per share for Q2 2023, which included a write-down of the leasehold interest at 625 Madison Avenue. FFO was reported as $1.43 per share. The company signed 43 Manhattan office leases covering 410,749 square feet. A 49.9% joint venture interest in 245 Park Avenue was sold for gross consideration of $2.0 billion.
Net loss attributable to common stockholders was $5.63 per share, including a $305.9 million write down of the leasehold interest at 625 Madison Avenue.
Reported funds from operations (FFO) were $1.43 per share.
Signed 43 Manhattan office leases covering 410,749 square feet.
Same-store cash net operating income (NOI) increased by 3.6%, excluding lease termination income.
Revenue by Segment
Forward Guidance
SL Green did not provide specific forward guidance in this earnings report.
Revenue & Expenses
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Avg. Return Before/After Earnings
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