SL Green Realty Corp. Reports Second Quarter 2025 EPS of ($0.16) Per Share; and FFO of $1.63 Per Share

Financial and Operating Highlights - The company reported a net loss attributable to common stockholders of $11.1 million, or $0.16 per share, for Q2 2025, compared to a net loss of $2.2 million, or $0.04 per share, for the same quarter in 2024 [5][6] - Funds from operations (FFO) for Q2 2025 were $124.5 million, or $1.63 per share, down from $143.9 million, or $2.05 per share, in Q2 2024 [8][9] - Same-store cash net operating income (NOI) decreased by 1.0% for Q2 2025 compared to the same period in 2024 [11] - Manhattan same-store office occupancy was 91.4% as of June 30, 2025, with expectations to increase to 93.2% by December 31, 2025 [15] Investing Highlights - The company signed 46 Manhattan office leases totaling 541,721 square feet in Q2 2025, with an average rent of $90.03 per rentable square foot [13] - The commercial mortgage investment in 522 Fifth Avenue was repaid for $200.0 million, generating net proceeds of $196.6 million [16] - The company closed on the sale of 85 Fifth Avenue for a gross asset valuation of $47.0 million, generating net proceeds of $3.2 million [17] Financing Highlights - An affiliate of the company and a joint venture partner acquired the debt encumbering 1552-1560 Broadway for $63.0 million, which had a total debt claim of $219.5 million [20] Special Servicing and Asset Management Highlights - The company's special servicing business increased by $1.3 billion in active assignments, totaling $6.1 billion, with an additional $10.5 billion designated for special servicing on non-active assets [21] Earnings Guidance - The company increased its 2025 earnings guidance range for FFO per share to $5.65 to $5.95, reflecting incremental income from its debt and preferred equity portfolio [23]