SL Green Q1 FFO drops 39% on higher debt, lower investment income; liquidity falls to $0.6B

Filed May 1, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~2 min read

Key Changes

• high

  FFO fell 39% to $64.6M from $106.5M year-over-year, driven by $13M higher interest expense (debt up 24% to $4.7B), $13.8M lower investment income (debt portfolio shrank 64% to $118M), and $22M swing in joint venture losses.

  MD&A: FFO and Interest Expense verify on EDGAR →
• high

  Liquidity declined from $0.9B to $0.6B as revolving credit availability dropped $335M (to $418M) and cash fell $23M, reflecting increased borrowing to fund Park Avenue Tower acquisition and operations.

  MD&A: Liquidity verify on EDGAR →
• high

  Acquired Park Avenue Tower for $15.6M quarterly rental revenue; deconsolidated 100 Park Avenue (losing $10M revenue); classified 7 Dey Street as held-for-sale at $220.5M, triggering $35.2M impairment charge.

  MD&A: Portfolio Activity verify on EDGAR →