Corporate Indebtedness (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of senior unsecured notes and other related disclosures by scheduled maturity date

The following table sets forth our senior unsecured notes and other related disclosures as of September 30, 2016 and December 31, 2015, respectively, by scheduled maturity date (dollars in thousands):

Issuance	September 30, 2016 Unpaid Principal Balance		September 30, 2016 Accreted Balance			December 31, 2015 Accreted Balance			Coupon Rate (1)		Effective Rate		Term (in Years)	Maturity Date
October 12, 2010 (2)	$	345,000	$	330,754		$	321,130		3.00	%	3.00	%	7	October 2017
August 5, 2011 (3)	250,000		249,862			249,810			5.00	%	5.00	%	7	August 2018
March 16, 2010 (3)	250,000		250,000			250,000			7.75	%	7.75	%	10	March 2020
November 15, 2012 (3)	200,000		200,000			200,000			4.50	%	4.50	%	10	December 2022
December 17, 2015 (3)	100,000		100,000			100,000			4.27	%	4.27	%	10	December 2025
March 26, 2007 (4)	—		—			10,008
March 31, 2006 (5)	—		—			255,296
	$	1,145,000	$	1,130,616		$	1,386,244
Deferred financing costs, net			(6,163		)	(7,280		)
	$	1,145,000	$	1,124,453		$	1,378,964

(1) Interest on the senior unsecured notes is payable semi-annually with principal and unpaid interest due on the scheduled maturity dates.

(2) Issued by the Operating Partnership. Interest on these exchangeable notes is payable semi-annually on April 15 and October 15. The notes had an initial exchange rate representing an exchange price that was set at a 30.0% premium to the last reported sale price of SL Green's common stock on October 6, 2010, or $85.81. The initial exchange rate is subject to adjustment under certain circumstances. The current exchange rate is 12.5697 shares of SL Green's common stock per $1,000 principal amount of these notes. The notes are senior unsecured obligations of the Operating Partnership and are exchangeable upon the occurrence of specified events and during the period beginning on the twenty-second scheduled trading day prior to the maturity date and ending on the second business day prior to the maturity date, into cash or a combination of cash and shares of SL Green's common stock, if any, at our option. As a result of meeting specified events (as defined in the Indenture Agreement), these notes became exchangeable commencing January 1, 2016 and remained exchangeable through March 31, 2016. The notes are guaranteed by ROP. On the issuance date, $78.3 million of the debt balance was recorded in equity. As of September 30, 2016, $14.2 million remained to be amortized into the debt balance.

(3) Issued by the Company, the Operating Partnership and ROP, as co-obligors.

(4) Balance was repaid in September 2016.

(5) Issued by ROP, balance was repaid in March 2016.

Schedule of combined aggregate principal maturities

Combined aggregate principal maturities of mortgages and other loans payable, 2012 credit facility, trust preferred securities, senior unsecured notes and our share of joint venture debt as of September 30, 2016, including as-of-right extension options and put options, were as follows (in thousands):

	Scheduled Amortization		Principal		Revolving Credit Facility		Unsecured Term Loan		Trust Preferred Securities		Senior Unsecured Notes		Total		Joint Venture Debt
Remaining 2016	$	12,694	$	101,936	$	—	$	—	$	—	$	—	$	114,630	$	38,253
2017	53,467		930,329		—		—		—		345,000		1,328,796		534,720
2018	56,320		244,990		—		—		—		250,000		551,310		41,933
2019	62,048		—		—		1,183,000		—		—		1,245,048		554,686
2020	44,162		679,531		—		—		—		250,000		973,693		30,298
Thereafter	124,818		1,781,380		—		—		100,000		300,000		2,306,198		1,494,287
	$	353,509	$	3,738,166	$	—	$	1,183,000	$	100,000	$	1,145,000	$	6,519,675	$	2,694,177

Schedule of consolidated interest expense, excluding capitalized interest

Consolidated interest expense, excluding capitalized interest, was comprised of the following (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Interest expense before capitalized interest	$	78,715		$	92,244		$	276,437		$	261,343
Interest capitalized	(6,084		)	(7,327		)	(18,135		)	(23,496		)
Interest income	(66		)	(776		)	(1,976		)	(2,153		)
Interest expense, net	$	72,565		$	84,141		$	256,326		$	235,694