Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 0

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 1
Chunk 0
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ITEM 1. BUSINESS

General

SL Green Realty Corp. is a self-managed real estate investment trust, or REIT, primarily engaged in the ownership, management, operation, acquisition, development, redevelopment, repositioning and financing of commercial real estate properties, principally office properties, located in the New York metropolitan area, principally in Manhattan, a borough of New York City. We were formed in June, 1997 for the purpose of continuing the commercial real estate business of S.L. Green Properties, Inc., our predecessor entity. S.L. Green Properties, Inc., which was founded in 1980 by Stephen L. Green, who serves as a member and the chairman emeritus of the Company's board of directors, had been engaged in the business of owning, managing, leasing, and repositioning office properties in Manhattan.

As of December 31, 2024, we owned the following interests in properties in the New York metropolitan area, primarily in midtown Manhattan. Our investments located outside of Manhattan are referred to as the Suburban properties:

ConsolidatedUnconsolidatedTotalLocationProperty TypeNumber of PropertiesApproximate Square Feet Number of PropertiesApproximate Square Feet Number of PropertiesApproximate Square Feet Weighted Average Leased  Occupancy(1)Commercial:ManhattanOffice15 9,587,441 9 12,175,149 24 21,762,590 92.5 %Retail2 30,496 1 12,946 3 43,442 100 %Development/Redevelopment2 (2)880,771 1 1,385,484 3 2,266,255 N/A19 10,498,708 11 13,573,579 30 24,072,287 92.5 %SuburbanOffice7 862,800 — — 7 862,800 73.5 %Total commercial properties26 11,361,508 11 13,573,579 37 24,935,087 91.8 %Residential:ManhattanResidential1 (2)140,382 1 221,884 2 362,266 99.1 %Total core portfolio27 11,501,890 12 13,795,463 39 25,297,353 91.9 %Alternative Strategy Portfolio— — 7 2,567,025