Demand for Manhattan Office Space Remains Soft, but SL Green's Class-A Portfolio Still Desirable

SL Green is a real estate investment trust engaged in the acquisition, development, repositioning, ownership, and management of commercial real estate properties, principally office properties. Most of its properties are in Manhattan. The firm holds interests in approximately 31.8 million square feet, which includes ownership interests in 28.1 million square feet in Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments. The strategy of the firm is to maintain a high-quality portfolio of buildings in desirable locations and focus on creating value through new developments, capital recycling, and joint-venture investments. As an example, the company's $3 billion megaproject One Vanderbilt was completed amid the pandemic and has already achieved high occupancy rates.