SL Green Realty Corp Surpasses 1.76 Million Square Feet in 2026 Manhattan Office Leasing, CBRE and Greenberg Traurig Among Key Deals

SL Green Realty Corp (NYSE: SLG), Manhattan's largest office landlord, announced Sept. 14 that it has signed 129 office leases totaling 1,760,649 square feet across Manhattan so far in 2026, with mark-to-market rents averaging 15.8% above the previous fully escalated rents on those same spaces. The company's active leasing pipeline has grown to more than 1.0 million square feet.

Greenberg Traurig LLP Expands at One Vanderbilt Avenue with CBRE Advising

Among the most significant transactions announced was a 10.5-year expansion lease signed by Greenberg Traurig LLP covering 33,477 square feet on the entire 33rd floor at One Vanderbilt Avenue. The deal brings Greenberg Traurig LLP's total footprint in the building to 133,365 square feet. One Vanderbilt Avenue, located at 1 Vanderbilt Avenue in Midtown Manhattan, spans approximately 1.68 million square feet and was completed in 2017. The building remains 100% leased following the transaction.

Greenberg Traurig LLP was represented in the transaction by Michael Monahan and Mark Ravesloot of CBRE.

245 Park Avenue Reaches Full Occupancy

SL Green also announced that 245 Park Avenue is now 100% leased after Nearwater Management LLC signed a new 8-year lease for 37,563 square feet covering the entire 28th floor. The approximately 1.7-million-square-foot tower at 245 Park Avenue was built in 1967. Nearwater Management LLC was represented by Alexander Chudnoff and Harrison Potter of Jones Lang LaSalle. The landlord was represented by Bruce Mosler, Harry Blair, Ron LoRusso, Justin Royce and Pierce Hance of Cushman & Wakefield.

Additional Notable Leases Across the Portfolio

IMG Worldwide LLC signed a 5-year renewal lease for 90,202 square feet at 304 Park Avenue South. The tenant was represented by Brian Goldman, Matthew Leon and Jason Perla of Newmark, together with John Mambrino and David Providenti of Savills.

Oceansound Partners LP signed a new 5-year lease covering 32,032 square feet across floors 8, 22 and 23 at 450 Park Avenue. That building, located at 450 Park Avenue and built in 1972, totals approximately 296,915 square feet. The tenant was represented by John Johnson of Savills. The landlord was represented by Paul Amrich, Neil King, Alex D'Amario, Matthew Dichter and Brooke Dewing of CBRE.

Leasing Momentum in Context

"Strong leasing momentum continues unabated with many tenants expanding and making significant capital investment to provide upscale work environments to better recruit and retain employee talent," said Steven Durels, SL Green's Executive Vice President, Director of Leasing and Real Property.

The volume and pricing of SL Green Realty Corp's 2026 leasing activity reflects broader conditions in the Manhattan office market, where availability has been declining and demand has concentrated in well-located, amenity-rich buildings. Manhattan overall vacancy stood at 19.9% in the first quarter of 2026, down for the seventh consecutive quarter, while sublease supply fell to 12.7 million square feet. Asking rents across Manhattan submarkets have moved into the $76 to $81-plus per square foot range, with trophy and Class A product commanding a premium.

SL Green Realty Corp's own quarterly results underscore the trend. In the second quarter of 2026, the company signed 53 Manhattan office leases totaling 445,161 square feet at an average rent of $93.17 per square foot and an average lease term of 5.8 years. Replacement leases in that quarter covered 308,680 square feet at starting rents of $98.42 per square foot, an 18.0% increase over prior fully escalated rents. Manhattan same-store office occupancy, including signed-but-not-yet-commenced leases, rose to 94.7% as of June 30, 2026, up from 94.4% in the first quarter and 93.0% at year-end 2025, with management guiding toward 95.0% by year-end.

As of June 30, 2026, SL Green Realty Corp held interests in 54 buildings totaling 30.6 million square feet, which included ownership interests in 29.2 million square feet and 1.4 million square feet securing debt and preferred equity investments, in addition to managing four buildings totaling 0.9 million square feet owned by third parties.

Sources

SL Green Realty Corp — SL Green's 2026 Office Leasing Reaches Nearly 1.8 Million Square Feet (Sept. 14, 2026)