Exhibit 99.1

 

CONTACT

Matt DiLiberto

Chief Financial Officer

(212) 594-2700

 

SL GREEN REALTY CORP. REPORTS

FOURTH QUARTER AND FULL YEAR 2014 FFO OF $1.45 and $5.94 PER SHARE BEFORE TRANSACTION COSTS;

AND EPS OF $0.59 AND $5.23 PER SHARE

 

Financial and Operating Highlights

 

·                  Fourth quarter FFO of $1.45 per share before transaction related costs of $0.02 per share and net of non-recurring charges of $0.07 per share related to the early repayment of the mortgage on 625 Madison Avenue, compared to prior year FFO of $1.42 per share before transaction related costs of $0.04 per share.

 

·                  Full year FFO of $5.94 per share before transaction related costs of $0.09 per share and net of non-recurring charges of $0.32 per share related to the early repayment or refinancing of debt, compared to prior year FFO of $5.21 per share before transaction related costs of $0.05 per share.

 

·                  Fourth quarter net income attributable to common stockholders of $0.59 per share compared to prior year net income of $0.39 per share.  Full year net income attributable to common stockholders of $5.23 per share, inclusive of gains recognized on the sales of real estate and purchase price fair value adjustments of $3.55 per share, compared to prior year net income of $1.10 per share.

 

·                  Combined same-store cash NOI increased 4.5 percent for the fourth quarter and 3.5 percent for the full year as compared to the same periods in prior year.

 

·                  Signed 42 Manhattan office leases covering 593,833 square feet during the fourth quarter and 227 Manhattan office leases covering 2,079,317 square feet for the full year.  The mark-to-market on signed Manhattan office leases was 13.0 percent higher in the fourth quarter than the previously fully escalated rents on the same spaces, resulting in a mark-to-market for the full year of 14.9 percent on signed Manhattan office leases.

 

·                  Signed 42 Suburban office leases covering 288,307 square feet during the fourth quarter and 137 Suburban office leases covering 776,549 square feet for the full year. The mark-to-market on signed Suburban office leases was 2.0 percent higher in the fourth quarter than the previously fully escalated rents on the same spaces, resulting in a mark-to-market for the full year of 1.4 percent on signed Suburban office leases.

 

·                  Increased Manhattan same-store occupancy, inclusive of leases signed but not yet commenced, as of December 31, 2014 to 95.7 percent as compared to 95.3 percent as of September 30, 2014.

 

1


The following information was filed by Sl Green Realty Corp (SLG) on Thursday, January 29, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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