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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Rental revenue, net $ 156,933 $ 150,991 $ 449,069 $ 531,978
SUMMIT Operator revenue 36,437 35,069 94,643 83,020
Investment income 5,344 9,689 18,938 27,849
Interest income from real estate loans held by consolidated securitization vehicles 4,771 0 4,771 0
Other income 26,206 14,437 72,972 59,139
Total revenues 229,691 210,186 640,393 701,986
Expenses        
Operating expenses, including related party expenses of $0 and $2 in 2024, and $2 and $3 in 2023 49,507 49,585 139,448 148,606
Real estate taxes 30,831 31,195 94,495 112,463
Operating lease rent 6,363 7,253 19,136 20,209
SUMMIT Operator expenses 37,901 32,801 82,947 76,324
Interest expense, net of interest income 42,091 27,440 109,067 109,714
Amortization of deferred financing costs 1,669 2,152 4,885 6,327
SUMMIT Operator tax (benefit) expense (1,779) 3,735 (1,219) 6,881
Interest expense on senior obligations of consolidated securitization vehicles 3,330 0 3,330 0
Depreciation and amortization 53,176 50,642 154,007 198,760
Loan loss and other investment reserves, net of recoveries 0 0 0 6,890
Transaction related costs 171 166 263 1,083
Marketing, general and administrative 21,015 22,873 62,360 69,132
Total expenses 244,275 227,842 668,719 756,389
Equity in net (loss) income from unconsolidated joint ventures (15,428) (15,126) 100,057 (44,470)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 371 0 19,006 (79)
Purchase price and other fair value adjustments 12,906 10,183 (36,321) (6,987)
Gain (loss) on sale of real estate, net 7,471 516 4,730 (27,813)
Depreciable real estate reserves and impairment 0 389 (65,839) (305,527)
Gain on early extinguishment of debt 0 0 17,777 0
Net (loss) income (9,264) (21,694) 11,084 (439,279)
Net loss attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership   1,574 166 27,493
Noncontrolling interests in other partnerships 985 1,794 4,150 4,459
Preferred units distributions (2,176) (1,903) (6,485) (5,352)
Net (loss) income attributable to SL Green (9,541) (20,229) 8,915 (412,679)
Perpetual preferred stock dividends (3,738) (3,738) (11,213) (11,213)
Net loss attributable to SL Green common stockholders $ (13,279) $ (23,967) $ (2,298) $ (423,892)
Basic loss per share (in dollars per share) $ (0.21) $ (0.38) $ (0.06) $ (6.63)
Diluted loss per share (in dollars per share) $ (0.21) $ (0.38) $ (0.06) $ (6.63)
Basic weighted average common shares outstanding (in shares) 64,388 64,114 64,355 64,099
Diluted weighted average common shares and common share equivalents outstanding (in shares) 64,388 68,296 64,355 68,274