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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Rental revenue, net $ 165,237 $ 150,632 $ 328,256 $ 292,136
SUMMIT Operator revenue 31,007 32,602 53,541 58,206
Investment income 6,339 6,191 22,453 13,594
Interest income from real estate loans held by consolidated securitization vehicles 21,049 0 37,030 0
Other income 18,284 33,395 40,482 46,766
Total revenues 241,916 222,820 481,762 410,702
Expenses        
Operating expenses, including related party expenses of $0 and $3 in 2025, and $0 and $0 in 2024 51,105 46,333 107,167 89,941
Real estate taxes 37,750 32,058 74,967 63,664
Operating lease rent 6,105 6,368 12,211 12,773
SUMMIT Operator expenses 24,847 23,188 46,611 45,046
Interest expense, net of interest income 45,318 35,803 90,999 66,976
Amortization of deferred financing costs 1,742 1,677 3,429 3,216
SUMMIT Operator tax expense 1,547 1,855 1,502 560
Interest expense on senior obligations of consolidated securitization vehicles 21,017 0 34,989 0
Depreciation and amortization 60,160 52,247 124,658 100,831
Loan loss and other investment reserves, net of recoveries (46,287) 0 (71,326) 0
Transaction related costs 177 76 472 92
Marketing, general and administrative 21,579 20,032 43,303 41,345
Total expenses 225,060 219,637 468,982 424,444
Equity in net (loss) income from unconsolidated joint ventures (22,775) 4,325 (21,605) 115,485
Income from debt fund investments, net 600 0 600 0
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate (1,946) (8,129) (1,946) 18,635
Purchase price and other fair value adjustments (9,617) 1,265 (19,228) (49,227)
Loss on sale of real estate, net (167) (2,741) (649) (2,741)
Depreciable real estate reserves and impairment 0 (13,721) (8,546) (65,839)
Gain on sale of investments in marketable securities 10,232 0 10,232 0
Gain on early extinguishment of debt 0 17,777 0 17,777
Net (loss) income (6,817) 1,959 (28,362) 20,348
Net loss attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership 775 153 2,240 (748)
Noncontrolling interests in other partnerships 840 1,871 5,737 3,165
Preferred units distributions (2,153) (2,406) (4,307) (4,309)
Net (loss) income attributable to SL Green (7,355) 1,577 (24,692) 18,456
Perpetual preferred stock dividends (3,737) (3,737) (7,475) (7,475)
Net (loss) income attributable to SL Green common stockholders $ (11,092) $ (2,160) $ (32,167) $ 10,981
Basic (loss) earnings per share (in dollars per share) $ (0.16) $ (0.04) $ (0.47) $ 0.16
Diluted (loss) earnings per share (in dollars per share) $ (0.16) $ (0.04) $ (0.47) $ 0.16
Basic weighted average common shares outstanding (in shares) 70,436 64,353 70,430 64,340
Diluted weighted average common shares and common share equivalents outstanding (in shares) 70,436 68,740 70,430 70,137