SL Green Completes 100% Leasing at One Madison With 92,663-Sq Ft Deal
SL Green leased the remaining 92,663 sq ft at One Madison Avenue to Harvey AI, completing the 550,000-sq ft tower and nine-story podium on time and budget. It signed 832,135 sq ft across 44 leases in the first 65 days and forecasts over 900,000 sq ft of Q1 leasing.
1. One Madison Avenue Fully Leased
SL Green finalized a 92,663-square-foot lease with Harvey AI, bringing One Madison Avenue to full occupancy. The project transformed a nine-story podium and added a 550,000-square-foot tower, all completed on schedule and within the original budget at rents surpassing initial underwriting levels.
2. First Quarter Leasing Volume
In the first 65 days of 2026, SL Green secured 832,135 square feet of office leases across 44 deals, including expansions totaling over 344,000 square feet. The company now projects exceeding 900,000 square feet of office leasing by quarter-end, marking the strongest first quarter in its 28-year history.
3. Portfolio Occupancy Outlook
SL Green anticipates that more than two-thirds of its office portfolio will achieve a weighted average leased occupancy of at least 98% by the end of 2026. This target reflects the firm’s focus on high-quality, Class-A properties and strategic tenant partnerships.
4. Management Commentary and Share Performance
CEO Marc Holliday attributed the leasing surge to commitments from sophisticated firms and highlighted New York City’s appeal to tech and AI growth. Despite the leasing momentum, shares have declined 12.6% over the past three months versus a 5.2% industry gain.