SL Green Realty Corp
slgreen.comWhat Do They Do?
Leases and manages Manhattan commercial properties, principally office buildings, for tenants; offers an observation-deck experience to visitors; and provides debt and preferred-equity financing to property owners.
10-K for FY2025, filed Feb 17, 2026SL Green Realty Corp. is a self-managed real estate investment trust, or REIT, primarily engaged in the ownership, management, operation…View ↗
SL Green, Manhattan's largest owner of office real estate, is focused primarily on the ownership, management, operation, acquisition…View ↗
We invest in well-collateralized debt and preferred equity investments in the markets in which we operate, principally New York City, that…View ↗
SUMMIT One Vanderbilt is an observation deck that offers panoramic views of New York while immersing its visitors in an art experience.…View ↗
How Do They Make Money?
The real estate business earns rent from tenants leasing space, including additional charges tied to some building costs; rent is earned across the lease term. Debt and preferred-equity investments earn interest under contract terms, with some interest paid only when collected.
10-K for FY2025, filed Feb 17, 2026Rental revenue for operating leases is recognized on a straight-line basis over the term of the lease. Rental revenue recognition commences…View ↗
In addition to base rent, our tenants also generally will pay variable rent which represents their pro rata share of increases in real…View ↗
Investment income on debt and preferred equity investments is accrued based on the contractual terms of the instruments and when it is…View ↗
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10-K for FY2025, filed Feb 17, 2026
FY2025 revenue by reportable segment ↗
$1B
-
10-K for FY2025, filed Feb 17, 2026
$1B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Real Estate Segment
Recurring
10-K for FY2025, filed Feb 17, 2026 |
79%
FY2022: 81%
|
Real Estate Segment, FY2025
$788.6M Sources
|
Recurring |
|
SUMMIT Segment
|
12%
FY2022: 9.7%
|
SUMMIT Segment, FY2025
$122.3M Sources
|
|
|
DPE Segment
Recurring
|
9.2%
FY2022: 8.8%
|
DPE Segment, FY2025
$92.1M Sources
|
Recurring |
Who Are Their Customers?
Office, retail and residential tenants lease space through the company's in-house leasing team and third-party brokers; SUMMIT is an observation deck for visitors.
10-K for FY2025, filed Feb 17, 2026
Do Revenues Turn Into Profits?
No. It lost $96.9M in FY2025.
10-K for FY2025, filed Feb 17, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$22.8MView ↗
- ▲ +210% (Loss)
- vs −$7.4M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
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Jul 23, 2026
Raised forecast ranges for net income and funds from operations
It raised both its net income and funds-from-operations per-share forecast ranges.
Sources
8-K, filed Jul 23, 2026
Net loss attributable to common stockholders of $0.38 per share for the second quarter of 2026 as compared to net loss of $0.16 per share…View ↗
Growing. Revenue grew 16% in 4 years, from $861.3M in FY2021 to $1B in FY2025, about 4% a year.
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