SL Green likely won’t meet its occupancy goals this year, its executives admitted, as leasing up the largest office portfolio in New York City has happened slower than expected.
But CEO Marc Holliday said on the company’s earnings call Thursday afternoon that the portfolio saw an uptick in same-store occupancy for the first time in 16 quarters, since before the pandemic delivered the office market a blow from which it has yet to recover.
“This is an important moment that symbolizes the stabilization of our portfolio,” Holliday said on the call. “The trend is in our favor, with more companies calling employees back to work.”