Exhibit 99.1

 

CONTACT

James Mead

Chief Financial Officer

-and-

Heidi Gillette

Investor Relations

(212) 594-2700

 

SL GREEN REALTY CORP. REPORTS

FOURTH QUARTER AND FULL YEAR 2011 FFO OF $1.04 AND $4.88 PER SHARE BEFORE TRANSACTION COSTS AND EPS OF $0.03 AND $7.33 PER SHARE

 

Operating Highlights

 

·                  Fourth quarter FFO of $1.04 per diluted share before transaction related costs of $0.02 per share, as compared with $1.01 per diluted share before transaction related costs of $0.04 per share in the fourth quarter of 2010.  Fourth quarter net income attributable to common stockholders of $0.03 per diluted share as compared with $0.09 per diluted share in the fourth quarter of 2010.

 

·                  Full-year 2011 FFO of $4.88 per diluted share before transaction related costs of $0.08 per share, as compared with $5.04 per diluted share before transaction related costs of $0.16 per share in 2010. Full year net income attributable to common stockholders of $7.33 per diluted share as compared with $3.45 per diluted share in 2010.

 

·                  Combined same-store GAAP NOI for the year increased 2.9 percent to $696.8 million as compared to the prior year.

 

·                  Signed 53 Manhattan leases totaling 662,450 square feet during the fourth quarter, the highest quarterly total in 2011, and 247 Manhattan leases totaling 2,370,216 square feet in 2011, excluding the 214,372 square foot condominium interest at 3 Columbus Circle which is under contract for sale to and will be occupied by Young and Rubicam. The mark-to-market on office leases signed in Manhattan was 11.7 percent higher in the fourth quarter and 7.3 percent higher for the full year than the previously fully escalated rents on the same office spaces.

 

·                  Signed 28 Suburban leases totaling 146,013 square feet during the fourth quarter and 117 Suburban leases totaling 588,598 square feet in 2011.  The mark-to-market on office leases signed in the Suburbs was 3.3 percent lower in the fourth quarter and 2.5 percent lower for the full year than the previously fully escalated rents on the same office spaces.

 

·                  Quarter-end occupancy of 95.4 percent in stabilized Manhattan same-store properties, excluding 100 Church Street, as compared to 94.6 percent in the same quarter of the previous year.

 

·                  Young & Rubicam Group entered into an agreement to occupy 339,132 square feet at 3 Columbus Circle — acquiring a 214,372-square-foot

 

1


The following information was filed by Sl Green Realty Corp (SLG) on Tuesday, January 31, 2012 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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