Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 9

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 1
Chunk 9
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.1%Unconsolidated joint venture office properties95.0%91.1%Portfolio (2)89.2%89.2%

(1)All office properties located in Manhattan owned by us as of January 1, 2023 and still owned by us in the same manner as of December 31, 2024. Percent Occupied includes leases signed but not yet commenced.

(2)Excludes properties under development or redevelopment.

Rent Trajectory

We are constantly evaluating our schedule of future lease expirations to mitigate occupancy risk while maximizing net effective rents. We proactively manage future lease expirations based on our view of estimated current and future market conditions and asking rents. The following table sets forth our future lease expirations, excluding triple net leases, and management's estimates of market asking rents. Taking rents are typically lower than asking rents and may vary from building to building. There can be no assurances that our estimates of market rents are accurate or that market rents currently prevailing will not erode or outperform in the future. 

ANNUAL LEASE EXPIRATIONS - MANHATTAN OPERATING PROPERTIESConsolidated PropertiesJoint Venture PropertiesYear of Lease ExpirationNumber of Expiring Leases (1)Rentable Square Footage of Expiring LeasesPercentage of Total Sq. Ft. Annualized Cash Rent of Expiring Leases Annualized Cash Rent Per Square Foot of Expiring Leases $/psf (2)Number of Expiring Leases (1)Rentable Square Footage of Expiring LeasesPercentage of Total Sq. Ft. Annualized Cash Rent of Expiring Leases Annualized Cash Rent Per Square Foot of Expiring Leases $/psf (2)2024 (3)9 126,384 1.50 %7,390,300 $58.47 1 1,423 — %$24,000 $16.87 1st Quarter 202513 235,307 2.80 %14,979,840 $63.66 6 33,399 0.30 %$2,762,921 $82.72 2nd Quarter 202516 99,894 1.20 %8,184,444 81.93 3 196,196 1.80 %20,404,766 104.00 3rd Quarter 202519 60,714