Question · Q4 2025
Manush Abek requested insights into the current leasing pipeline demand, specifically focusing on activity and opportunities outside of Park Avenue. He also asked for a classification of the current market conditions and demand for Sixth Avenue and Third Avenue.
Answer
Marc Holliday, Chairman and CEO, SL Green Realty Corp, and Steve M. Durels, EVP and Director of Leasing and Real Property, reported a pipeline of over 1 million sq ft, with 800,000 sq ft in active lease negotiations, heavily weighted towards new financial services, tech, and legal tenants. They described Sixth Avenue as 'the new Park Avenue,' with dramatically rising rents and cited 1185 Sixth Avenue as a case study of significant leasing success, demonstrating the submarket's strengthening.
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