SL Green Realty Books Investment Portfolio Gains, But Structural Pressures Remain

  • SL Green's Q2 beat was driven by investment portfolio gains, not core office operations, and FFO guidance was raised accordingly. Core office business faces ongoing but manageable headwinds; long-term leases and staggered maturities help cushion occupancy declines. NYC political risks are likely overstated due to limited mayoral powers and state-level checks on policy changes impacting real estate.