XML 37 R14.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Operations (Partnership) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Rental revenue, net $ 605,999 $ 683,335 $ 671,500
SUMMIT Operator revenue 133,214 118,260 89,048
Investment income 24,353 34,705 81,113
Interest income from real estate loans held by consolidated securitization vehicles 18,980 0 0
Other income 103,726 77,410 77,793
Total revenues 886,272 913,710 919,454
Expenses      
Real estate taxes 128,187 143,757 138,228
Operating lease rent 24,423 27,292 26,943
SUMMIT Operator expenses 111,739 101,211 89,207
Interest expense, net of interest income 147,220 137,114 89,473
Amortization of deferred financing costs 6,619 7,837 7,817
SUMMIT Operator tax expense 730 9,201 2,647
Interest expense on senior obligations of consolidated securitization vehicles 14,634 0 0
Depreciation and amortization 207,443 247,810 216,167
Loan loss and other investment reserves, net of recoveries 0 6,890 0
Transaction related costs 401 1,099 409
Marketing, general and administrative 85,187 111,389 93,798
Total expenses 916,181 990,296 838,752
Equity in net loss from unconsolidated joint ventures (179,695) (76,509) (57,958)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 208,144 (13,368) (131)
Purchase price and other fair value adjustments 88,966 (17,260) (8,118)
Gain (loss) on sale of real estate, net 3,025 (32,370) (84,485)
Depreciable real estate reserves and impairments (104,071) (382,374) (6,313)
Gain (loss) on early extinguishment of debt 43,762 (870) 0
Net income (loss) 30,222 (599,337) (76,303)
Net Loss Attributable to Noncontrolling Interest      
Noncontrolling interests in other partnerships 928 4,568 (1,122)
Preferred units distributions (8,643) (7,255) (6,443)
Net income (loss) attributable to SL Green 22,010 (564,559) (78,074)
Perpetual preferred unit dividends (14,950) (14,950) (14,950)
Related party      
Expenses      
Operating expenses, including related party expenses of $7 in 2024, $5 in 2023 and $5,701 in 2022 7 5 5,701
SL Green Operating Partnership      
Revenues      
Rental revenue, net 605,999 683,335 671,500
SUMMIT Operator revenue 133,214 118,260 89,048
Investment income 24,353 34,705 81,113
Other income 103,726 77,410 77,793
Total revenues 886,272 913,710 919,454
Expenses      
Operating expenses, including related party expenses of $7 in 2024, $5 in 2023 and $5,701 in 2022 189,598 196,696 174,063
Real estate taxes 128,187 143,757 138,228
Operating lease rent 24,423 27,292 26,943
SUMMIT Operator expenses 111,739 101,211 89,207
Interest expense, net of interest income 147,220 137,114 89,473
Amortization of deferred financing costs 6,619 7,837 7,817
SUMMIT Operator tax expense 730 9,201 2,647
Depreciation and amortization 207,443 247,810 216,167
Loan loss and other investment reserves, net of recoveries 0 6,890 0
Transaction related costs 401 1,099 409
Marketing, general and administrative 85,187 111,389 93,798
Total expenses 916,181 990,296 838,752
Equity in net loss from unconsolidated joint ventures (179,695) (76,509) (57,958)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 208,144 (13,368) (131)
Purchase price and other fair value adjustments 88,966 (17,260) (8,118)
Gain (loss) on sale of real estate, net 3,025 (32,370) (84,485)
Depreciable real estate reserves and impairments (104,071) (382,374) (6,313)
Gain (loss) on early extinguishment of debt 43,762 (870) 0
Net income (loss) 30,222 (599,337) (76,303)
Net Loss Attributable to Noncontrolling Interest      
Noncontrolling interests in other partnerships 928 4,568 (1,122)
Preferred units distributions (8,643) (7,255) (6,443)
Net income (loss) attributable to SL Green 22,507 (602,024) (83,868)
Perpetual preferred unit dividends (14,950) (14,950) (14,950)
Net income (loss) attributable to SLGOP common unitholders $ 7,557 $ (616,974) $ (98,818)
Basic earnings (loss) per unit (in dollars per share) $ 0.04 $ (9.12) $ (1.49)
Diluted earnings (loss) per unit (in dollars per share) $ 0.04 $ (9.12) $ (1.49)
Basic weighted average common units outstanding (in shares) 68,736 67,972 67,929
Diluted weighted average common units and common unit equivalents outstanding (in shares) 69,605 67,972 67,929
SL Green Operating Partnership | Related party      
Expenses      
Operating expenses, including related party expenses of $7 in 2024, $5 in 2023 and $5,701 in 2022 $ 7 $ 5 $ 5,701