SL Green Fully Leases 92,663 Sq Ft at One Madison, Expects Over 900k Sq Ft Q1 Leasing
SL Green has fully leased One Madison Avenue’s remaining 92,663-square-foot space to Harvey AI with rents above underwriting assumptions. The REIT signed 44 leases totaling 832,135 square feet in 65 days and expects over 900,000 square feet of leasing in Q1 2026.
1. One Madison Avenue Fully Leased
SL Green completed leasing the remaining 92,663 square feet at One Madison Avenue to Harvey AI, achieving full occupancy on the adaptive reuse project. The space commands rents above initial underwriting, underscoring the strength of SL Green’s design and tenant hospitality strategy.
2. Record First-Quarter Leasing Volume
In the first 65 days of 2026, SL Green signed 44 office leases totaling 832,135 square feet, including expansions at 11 Madison Avenue and 245 Park Avenue. This performance follows the 100% lease-up of One Vanderbilt and highlights momentum in New York City’s tech and AI sectors.
3. Future Outlook and Projections
SL Green projects exceeding 900,000 square feet of office leasing by the end of Q1 2026, marking its highest first-quarter volume in 28 years. Management anticipates a weighted average leased occupancy of at least 98% across two-thirds of its office portfolio by year-end 2026.