Marc Holliday on acquisitions
From $SLG SL Green Realty REIT Q3 2025 Earnings Conference Call · · EARNMOAR
“Last night we announced the acquisition of Park Avenue Tower for $730 million. This is a very targeted market play, acquiring a well‑leased asset with rents considerably under‑market and where we see significant near‑term upside from rapidly increasing rents.”
On , Marc Holliday, Interim President, Chairman & Chief Executive Officer at SL GREEN REALTY CORP, spoke about acquisitions during $SLG SL Green Realty REIT Q3 2025 Earnings Conference Call on EARNMOAR.
About Marc Holliday
Marc Holliday, chairman and CEO of SL Green Realty, said in March 2026 that New York City's leasing growth was the strongest he had seen in his career. He stated that the company had leased 9 million square feet of space over the prior three years and that two-thirds of its portfolio was expected to be 98% leased by the end of the year. Holliday attributed demand to the city's educated workforce and noted that AI companies such as Anthropic, Harvey AI, and Sigma Computing were among the tenants seeking space. He also said that Mayor Zohran Mamdani had done a "reasonably good job" on safety and sanitation in his first 60 to 70 days in office, and expressed hope that the state budget would be balanced without new income taxes. In the company's Q3 2025 earnings call, Holliday reported that SL Green had signed more than 1.9 million square feet of leases that year, with occupancy climbing above 92%. He described the New York office market as "roaring back" and said the company was at the "doorstep of the AI industrial revolution." Holliday also expressed disappointment that the company's bid for a Caesars Palace casino in Times Square did not advance in the state licensing process, calling it "an enormous loss for New York City." The company completed a $1.44 billion refinancing at 11 Madison Avenue and acquired Park Avenue Tower for $730 million, which Holliday described as a "targeted market play" with near-term upside from rising rents.