Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of ground lease arrangements

The table below summarizes our current lease arrangements as of December 31, 2023:

Property (1)	Year of Current Expiration	Year of Final Expiration (2)
711 Third Avenue (3)	2033	2083
1185 Avenue of the Americas	2043	2043
SL Green Headquarters at One Vanderbilt Avenue (4)	2043	2048
420 Lexington Avenue	2050	2080
SUMMIT One Vanderbilt	2058	2070
15 Beekman (5)(6)	2119	2119

(1)All leases are classified as operating leases unless otherwise specified.

(2)Reflects exercise of all available extension options.

(3)The Company owns 50% of the fee interest.

(4)In March 2021, the Company commenced its lease for its corporate headquarters at One Vanderbilt Avenue. See note 10, "Related Party Transactions."

(5)The Company has an option to purchase the ground lease for a fixed price on a specific date. The lease is classified as a financing lease.

(6)In August 2020, the Company entered into a long-term sublease with an unconsolidated joint venture as part of the capitalization of the 15 Beekman development project. See Note 6, "Investments in Unconsolidated Joint Ventures."

Finance lease, liability, maturity

The following is a schedule of future minimum lease payments as evaluated in accordance with ASC 842 for our financing leases and operating leases with initial terms in excess of one year as of December 31, 2023 (in thousands):

	Financing leases		Operating leases
2024	$	3,180	$	53,455
2025	3,228		53,595
2026	3,276		53,734
2027	3,325		53,746
2028	3,375		54,211
Thereafter	196,794		1,208,864
Total minimum lease payments	$	213,178	$	1,477,605
Amount representing interest	(107,647)		—
Amount discounted using incremental borrowing rate	—		(649,913)
Total lease liabilities excluding liabilities related to assets held for sale	$	105,531	$	827,692
Total lease liabilities	$	105,531	$	827,692

Schedule of future minimum rental payments for operating leases

The following is a schedule of future minimum lease payments as evaluated in accordance with ASC 842 for our financing leases and operating leases with initial terms in excess of one year as of December 31, 2023 (in thousands):

	Financing leases		Operating leases
2024	$	3,180	$	53,455
2025	3,228		53,595
2026	3,276		53,734
2027	3,325		53,746
2028	3,375		54,211
Thereafter	196,794		1,208,864
Total minimum lease payments	$	213,178	$	1,477,605
Amount representing interest	(107,647)		—
Amount discounted using incremental borrowing rate	—		(649,913)
Total lease liabilities excluding liabilities related to assets held for sale	$	105,531	$	827,692
Total lease liabilities	$	105,531	$	827,692

Lease, cost

The following table provides lease cost information for the Company's operating leases for the years ended December 31, 2023, 2022 and 2021 (in thousands):

	Year Ended December 31,
Operating Lease Costs	2023		2022		2021
Operating lease costs before capitalized operating lease costs	$	29,637	$	33,773	$	30,270
Operating lease costs capitalized	(2,345)		(6,830)		(3,716)
Operating lease costs, net (1)	$	27,292	$	26,943	$	26,554

(1)This amount is included in Operating lease rent in our consolidated statements of operations.

The following table provides lease cost information for the Company's financing leases for the years ended December 31, 2023, 2022 and 2021 (in thousands):

	Year Ended December 31,
Financing Lease Costs	2023		2022		2021
Interest on financing leases before capitalized interest	$	4,446	$	4,555	$	5,448
Interest on financing leases capitalized	—		—		—
Interest on financing leases, net (1)	4,446		4,555		5,448
Amortization of right-of-use assets (2)	—		—		660
Financing lease costs, net	$	4,446	$	4,555	$	6,108

(1)These amounts are included in Interest expense, net of interest income in our consolidated statements of operations.

(2)These amounts are included in Depreciation and amortization in our consolidated statements of operations.