SL Green’s early 2026 leasing streak points to a narrow Manhattan recovery

SL Green Realty reported it signed more than 900,000 square feet of office leasing in the first quarter of 2026, a strong start that the company is pairing with a broader portfolio strategy.

According to the report, much of the new demand is coming from AI and finance tenants, who are gravitating toward modern, well-located properties that can support specialized infrastructure and higher-density workplaces.

At the same time, SL Green is pursuing roughly a $2.5 billion asset-sale plan while targeting about $1 billion for acquisitions and development, a dual approach intended to reconfigure its holdings around assets that attract those growth sectors.

The combination of large leasing volumes and active portfolio moves reinforces a broader market reading: Manhattan’s office recovery so far appears to be led by a relatively narrow top tier of landlords and buildings capable of accommodating the specific needs of high-demand tenants.

Reporting on the company’s activity is limited to the details disclosed in the CREDaily brief; important questions remain about lease durations, rent levels, the sustainability of the leasing pace, and whether other landlords can replicate SL Green’s results.