5 Cheap REITs with Huge Upside

2. SL Green Realty Corp. (NYSE:SLG)

SL Green Realty Corp. (NYSE:SLG) is one of the 10 cheap REITs with huge upside.

On March 9, SL Green Realty Corp. (NYSE:SLG) reportedly capped a potentially record-breaking first quarter through the leasing of the remaining office space at One Madison Avenue to Harvey AI via an addition of 92,663 square feet. In reaction to concerns that AI is contributing to a reduction in employment in New York City, Marc Holliday, the CEO, highlighted that the city is poised to reap the benefits of advancements in technology, productivity, and innovation.

On March 2, SL Green Realty Corp. (NYSE:SLG) said it signed 32 office leases in Manhattan totaling 491,098 square feet during the first two months of 2026, while maintaining a current leasing pipeline of more than 1M square feet. The activity included several notable long-term agreements across its portfolio.

A large global investment firm signed a new 10-year lease for 150,036 square feet at 245 Park Avenue, while TD Securities agreed to a 10-year expansion lease for 51,081 square feet at 125 Park Avenue. Additional deals included new or expanded leases with One Main General Services Corp, McDermott Will & Schulte at One Vanderbilt Avenue, UHY Advisors Northeast, and Turner & Townsend across multiple Park Avenue properties.

SL Green Realty Corp. (NYSE:SLG) specializes in the ownership, development, and management of commercial properties, such as shopping centers and office properties. It is a self-managed real estate investment trust that also possesses expertise in property management, debt investing, leasing, development, and redevelopment.