It's time for the big three. We've got three stocks for you and three charts that we're going to break down. Rick Dukat, of course, joining us here to take us through those charts. And here to take us through the stock picks today is Achilles Laura, the founder and CEO of Lara Wealth Management.Now, it's great to see you both. Achilles, let's start with you with a a big picture thought on your first pick here. SL Green Realy Corp. as I look at them down about 6 and a half% in the past 12 months.So, you walk ...

In recent trading, shares of SL Green Realty Corp (Symbol: SLG) have crossed above the average analyst 12-month target price of $79.55, changing hands for $79.62/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the co ...

SL Green Realty (NYSE:SLG) was trading higher as Citi Research upgraded the office REIT on the strength of the New York office market and improving NY office transaction environment. Shares were +2.64% Thursday post-market to $65.00. "In addition, the recent underperformance ...

PresentationGood afternoon. Welcome to Bank of America's 2025 Global Real Estate Conference. I'm Jana Galan, and I cover the office REITs at Bank of America. We're very pleased to have with us SL Green's CFO, Matt DiLiberto; EVP, Director of Leasing, Steve Durels; Chief Investment Officer, Harrison Sitomer; and the VP of Corporate Finance, [ Andrew Mayer ]. First, I will turn it over to Matt for a few opening remarks, and then we can jump into Q&A.Matthew DilibertoChief Financial Officer Great. Good afterno ...

PresentationGood afternoon. Welcome to Bank of America's 2025 Global Real Estate Conference. I'm Jana Galan, and I cover the office REITs at Bank of America. We're very pleased to have with us SL Green's CFO, Matt DiLiberto; EVP, Director of Leasing, Steve Durels; Chief Investment Officer, Harrison Sitomer; and the VP of Corporate Finance, [ Andrew Mayer ]. First, I will turn it over to Matt for a few opening remarks, and then we can jump into Q&A.Matthew DilibertoChief Financial Officer Great. Good afterno ...

**公司概况** * SL Green Realty Corp (NYSE: SLG) 是曼哈顿最大的办公楼业主 自1997年上市 核心资产集中于中城核心区 特别是Grand Central区域 其标志性项目为One Vanderbilt[2] * 公司业务还包括债务投资 近期通过一个基金进行[2] * 管理团队平均共事时间超过20年[2] **租赁市场动态与前景** * 公司年内已完成超150万平方英尺租赁 第三季度预计完成50万平方英尺 当前活跃租约谈判中的管道面积超110万平方英尺 其中70万平方英尺处于积极谈判阶段 全年有望超额完成200万平方英尺的目标[5] * 中城南区市场复苏 科技行业尤其是AI相关租户需求旺盛 驱动了租赁活动[5] * 中城地区 特别是Park Avenue Sixth Avenue和Grand Central附近 仍是曼哈顿市场的核心驱动力[6] * 中端价格区间楼宇的租金开始上涨 特别是老旧产品的塔楼层 供应减少 空置率下降[6] * 大量办公转住宅(Resi Conversion)项目 特别是沿Third Avenue走廊 正在加速进行 预计有1000万平方英尺正处于积极转换中 未来可能总计有4000至5000万平方英尺的库存退出市场[17] * 大面积空间供应紧张 寻找25万平方英尺的优质空间选择很少 50万平方英尺的选择仅有一两个 这促使更多租户选择续租、原地扩租或采用园区式解决方案[37][38] * 整体曼哈顿市场空置率低于14% 远低于18%-20%的高点 中城空置率为11% Park Avenue空置率低至5%[49] * 租户需求强劲 已知的租户寻租面积较一年前增加了500万平方英尺[51] * 公司预计租金将继续上涨 并可能在未来出现大幅飙升[15][16] **租金与优惠条件趋势** * 在选择性案例中 公司已能够略微减少租赁优惠(TI)或免租期 例如减少5美元的TI或一两个月的免租期 但这尚未成为普遍趋势[12] * 优惠条件总体保持稳定 面对租金上涨 预计优惠条件将开始收紧[12] * 租户更愿意接受更高的基础租金 而非更低的优惠条件 部分原因是建筑成本上升[79][80] * 公司在部分楼宇过去12个月内已提价三到四次 同时并未减少优惠[82] **投资与交易市场** * 公司近年基于租赁前沿洞察进行了多项投资 包括收购500 Park 450 Park 245 Park 100 Park 10 East 53rd Street的权益或楼宇[7] * 近期宣布收购346 Madison Avenue的新开发地块 计划进行开发 预计审批流程需约两年[9][11] * 交易市场重新开放 原因包括CMBS市场复苏 投资者害怕错失(FOMO)的心理 以及市场复苏更多由基本面驱动而非广泛的资本市场环境[8] * 国际资本已全面回归纽约办公楼市场 但国内资本回归仍显不足[19][20] **融资环境** * 纽约资产的融资市场已经明确开放 CMBS市场需求强劲[21] * 银行市场虽不如CMBS激进 但也已回归 公司今年初为500 Park完成了大型机构数年来的首笔办公楼融资[22] * 市场存在明显的纽约偏好 而非广泛的办公楼偏好[23] **债务基金业务** * 尽管市场积极 但债务资本的供需仍不匹配[27] * 公司发现购买贷款和投资组合中存在有趣机会 预计将更多资金部署于新资本化的交易而非收购已资本化的交易[27] * 目标回报率在中 teens 水平[31] **投资组合与运营指标** * 公司明年最大的已知租约到期和迁出面积仅为11.5万平方英尺[67] * 预计到年底 出租率(leased occupancy)将超过93% 目前为91.7% 第三季度末预计至少达到92%[68] * 公司计划以审慎测算的方式将空置率提升至95%以上 而非不惜成本地快速达成[68] **其他业务板块** * Summit观景台业务表现良好 全年运营处于满负荷状态 客源中约50%为国内及本地纽约客 受国际旅游波动影响较小[71] * 赌场(Casino)牌照申请正按既定时间表进行 公司已于6月底提交申请 地方委员会第一阶段流程将持续至9月30日 以决定哪些申请人进入州级决定的第二轮 最终结果预计年底公布[73] **宏观与策略展望** * 公司认为当美联储开始降息时 长期债务利率将下降[83] * 公司计划在AI相关倡议上增加支出 以改进内部流程[84] * 公司预计其所在板块明年的同店NOI将会更高[85]

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BANK OF AMERICA SECURITIES GLOBAL REAL ESTATE CONFERENCE September 10, 2025 DISCLAIMER This presentation includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this presentation that address activities, events or developments that we expect, believe or anticipate will ...

Key Takeaways SL Green will buy 346 Madison Avenue and a site at 11 East 44th Street for $160 million.The combined properties could deliver 800,000 rentable square feet under rezoning.SLG targets tenant demand for new builds with amenities and transit access.SL Green (SLG) recently entered into a contract to acquire 346 Madison Avenue, along with the adjacent site at 11 East 44th Street, for $160 million. Subject to customary closing conditions, the deal is expected to close in the fourth quarter of this ye ...

交易概览 - SL Green Realty Corp以1.6亿美元收购麦迪逊大道346号及东44街11号相邻地块 交易预计2025年第四季度完成[1] - 收购地块位于范德比尔特一号大厦附近 属于纽约中城东核心区域优质开发用地[2][3] 战略定位 - 地块合并后可开发约80万平方英尺可租赁面积 符合中城东区重新分区规划要求[3] - 公司将打造世界级新建写字楼 满足市场对健康基础设施 无柱楼层及交通便利的新型办公空间需求[3] 公司背景 - SL Green是曼哈顿最大写字楼业主 持有53栋建筑共3070万平方英尺权益[5] - 公司专注于曼哈顿商业地产收购与管理 其中2720万平方英尺为直接持有权益[5] 交易相关 - 仲量联行经纪人Drew Isaacson与David Giancola担任本次交易顾问[4]