Core Insights - SL Green Realty Corp. (SLG) has made two strategic moves indicating confidence in its asset base and future trajectory [1] Acquisition Details - SL Green has agreed to acquire Park Avenue Tower for $730 million, expected to close in early 2026; the 36-story, 621,824-square-foot Class A office tower is well leased at below-market rents, providing steady income and strong upside potential [2][7] - The acquisition is strategically located in the prime Park Avenue corridor, which has tight vacancy and strong demand, enhancing SL Green's presence in the area [3] Stake Sale - SL Green sold a 5% stake in One Vanderbilt Avenue to Japan's Mori Building Co., raising Mori's total ownership to 16%; the transaction valued the property at $4.7 billion, with SL Green retaining 55% ownership [3][4] - Selling a stake in this trophy asset allows SL Green to free up capital while maintaining majority control and participation in ongoing upside [4] Financial Performance - SL Green reported third-quarter 2025 funds from operations (FFO) per share of $1.58, exceeding the Zacks Consensus Estimate of $1.34 and significantly higher than $1.13 in the same quarter last year [6] - Over the past six months, SL Green's shares have increased by 9.1%, outperforming the industry's increase of 3.9% [6] Strategic Positioning - The combination of acquisition and strategic monetization indicates that SL Green is actively shaping its portfolio rather than passively riding the office-market cycle; the structure of the Park Avenue Tower deal is defensible due to its focus on leased revenue and below-market rent potential [5]

Core Insights - SL Green Realty Corp. has sold a 5.0% interest in One Vanderbilt Avenue to Mori Building Co., Ltd., following Mori's previous acquisition of an 11.0% interest in the same property, with both transactions valuing the asset at $4.7 billion [1][2] - After the sale, SL Green retains a 55.0% stake in One Vanderbilt Avenue, which is a prominent office tower in Manhattan [1] Company Overview - SL Green Realty Corp. is Manhattan's largest office landlord and operates as a fully integrated real estate investment trust (REIT), focusing on acquiring, managing, and maximizing the value of commercial properties in Manhattan [4] - As of September 30, 2025, SL Green holds interests in 53 buildings totaling 30.7 million square feet, including 27.1 million square feet of Manhattan properties [4] Property Details - One Vanderbilt Avenue stands at 1,401 feet tall and is fully leased, housing leading firms in finance, technology, law, and real estate [3] - The skyscraper features 1.7 million square feet of space, state-of-the-art technology, and a high level of sustainability, along with direct access to Grand Central Terminal [3]