SL Green completed 129 Manhattan office leases totaling 1.76 million square feet through September 14, 2026, with rents averaging 15.8% above prior escalated rates.
\n Major deals span One Vanderbilt, 245 Park Avenue, 450 Park Avenue and 304 Park Avenue South, including expansions from law firm Greenberg Traurig and IMG Worldwide.
\n The REIT\u2019s active leasing pipeline has grown past 1 million square feet, positioning it for continued occupancy and rent gains through year-end.<\/p>\n
Key Takeaways<\/p>\n
SL Green Realty Corp., Manhattan\u2019s largest office landlord, has signed nearly 1.8 million square feet<\/a> of office leases so far in 2026, according to citybiz. The New York-based REIT completed 129 leases totaling 1,760,649 square feet through September 14, with rents on those deals averaging 15.8% above the fully escalated rents previously paid for the same spaces. The results offer one of the clearer signals yet that Manhattan\u2019s flight-to-quality office demand hasn\u2019t cooled, even as owners of older, lower-amenity buildings continue to struggle for traction.<\/p>\n Get Smarter About What Matters in New York<\/p>\n Subscribe to our free newsletter covering the biggest commercial real estate stories across the five boroughs \u2014 delivered in just 5 minutes.<\/p>\n Where the Deals Are Landing<\/p>\n The leasing activity is concentrated at several of SL Green\u2019s flagship Manhattan towers. These include One Vanderbilt Avenue, 245 Park Avenue, 450 Park Avenue, and 304 Park Avenue South.<\/p>\n Two of those buildings, One Vanderbilt and 245 Park Avenue, are now fully leased. That points to continued tenant demand for the REIT\u2019s premier assets, even as the broader office market remains uneven.<\/p>\n The deals include new leases, renewals, and expansions. Together, they show occupancy gains and continued rental-rate growth across SL Green\u2019s portfolio.<\/p>\n The Details<\/p>\n Law firm Greenberg Traurig expanded at One Vanderbilt Avenue. The firm signed a 10.5-year, 33,477-square-foot lease for the entire 33rd floor.<\/p>\n The deal brings its total commitment in the building to 133,365 square feet. CBRE\u2019s Michael Monahan and Mark Ravesloot represented the tenant.<\/p>\n At 245 Park Avenue, Nearwater Management signed a new eight-year lease. The deal covers 37,563 square feet across the entire 28th floor.<\/p>\n The lease brought the tower to full occupancy. Jones Lang LaSalle\u2019s Alexander Chudnoff and Harrison Potter represented the tenant. A Cushman & Wakefield team led by Bruce Mosler represented the landlord.<\/p>\n Investment firm Oceansound Partners took 32,032 square feet across three floors at 450 Park Avenue. The firm signed a five-year term arranged by Savills\u2019 John Johnson.<\/p>\n IMG Worldwide also renewed 90,202 square feet at 304 Park Avenue South. The five-year deal included Newmark as the tenant\u2019s representative.<\/p>\n SL Green\u2019s active leasing pipeline has also grown to more than 1 million square feet. That gives the REIT visibility into additional occupancy gains.<\/p>\n Zooming Out<\/p>\n The leasing pace tracks a broader rebound in Manhattan office activity this year. Tenants are increasingly committing to full floors and longer terms at trophy and near-trophy buildings.<\/p>\n