SL Green Q2 FFO $2.05/share, raises FY FFO guidance to $7.45-$7.75

SL GREEN REALTY CORP

2024-Q2 EPS reported $0.16 revenue$410,702,000

Q2 net loss $0.04/share (vs $5.63 loss in Q2 2023); FFO $2.05/share (vs $1.43), including gains on debt extinguishments.
Raises 2024 FFO guidance midpoint by $0.10 to $7.45-$7.75; net income guidance unchanged $2.73-$3.03.
Signed 38 Manhattan office leases (420,513 sf) in Q2, mark-to-market +15.5%. Occupancy 89.6%, targeting >91.5% by year-end.
Contracted $168.2M sale of 760 Madison Ave; closed sales of Palisades ($26.3M), 719 Seventh ($30.5M), 625 Madison ($634.6M).
Modified $1.075B mortgage on 280 Park Ave (extended to Sep 2026/2028, rate fixed at 5.84%); repaid $62.5M mezzanine loan.

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