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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Commercial real estate properties, at cost:    
Land and land interests $ 1,627,895 $ 1,357,041
Building and improvements 4,082,434 3,862,224
Building leasehold and improvements 1,424,907 1,388,476
Total commercial real estate properties, at cost 7,135,236 6,607,741
Less: accumulated depreciation (2,266,042) (2,126,081)
Total commercial real estate properties, net 4,869,194 4,481,660
Cash and cash equivalents 187,039 184,294
Restricted cash 170,004 147,344
Investments in marketable securities 16,099 22,812
Tenant and other receivables 136,787 44,055
Related party receivables 15,287 26,865
Deferred rents receivable 268,770 266,428
Debt and preferred equity investments, net of discounts and deferred origination fees of $209 and $1,618 and allowances of $454 and $13,520 in 2025 and 2024, respectively 171,412 303,726
Investments in unconsolidated joint ventures 2,627,443 2,690,138
Debt fund investments, at fair value 73,402 0
Deferred costs, net of amortization of $180,831 and $308,923, respectively 117,054 117,132
Right-of-use assets - operating leases 869,929 865,639
Real estate loans held by consolidated securitization vehicles (includes $1,013,273 and $584,134 at fair value as of September 30, 2025 and December 31, 2024, respectively) 1,013,273 709,095
Other assets 608,444 610,911
Total assets [1] 11,144,137 10,470,099
Liabilities    
Mortgages and other loans payable, net 2,280,095 1,944,635
Revolving credit facility, net 387,407 316,240
Unsecured term loans, net 1,147,274 1,146,010
Unsecured notes, net 99,974 99,897
Accrued interest payable 17,803 16,527
Senior obligations of consolidated securitization vehicles (includes $1,013,273 and $567,487 at fair value as of September 30, 2025 and December 31, 2024, respectively) 1,013,273 590,131
Other liabilities 387,641 414,153
Accounts payable and accrued expenses 140,232 122,674
Deferred revenue 164,132 164,887
Lease liability - financing leases 107,846 106,853
Lease liability - operating leases 809,665 810,989
Dividend and distributions payable 21,942 21,816
Security deposits 65,356 60,331
Junior subordinated deferrable interest debentures held by trusts that issued trust preferred securities 100,000 100,000
Total liabilities [1] 6,742,640 5,915,143
Commitments and contingencies (See Note 19)
Noncontrolling interests in Operating Partnership 280,873 288,941
Preferred units and redeemable equity 194,392 196,064
Equity    
Series I Preferred Stock, $0.01 par value, $25.00 liquidation preference, 9,200 issued and outstanding at both September 30, 2025 and December 31, 2024 221,932 221,932
Common stock, $0.01 par value, 160,000 shares authorized and 71,028 and 71,097 issued and outstanding at September 30, 2025 and December 31, 2024, respectively 710 711
Additional paid-in-capital 4,205,443 4,159,562
Accumulated other comprehensive (loss) income (19,784) 18,196
Retained deficit (634,653) (449,101)
Total SL Green stockholders' equity 3,773,648 3,951,300
Noncontrolling interests in other partnerships 152,584 118,651
Total equity 3,926,232 4,069,951
Total liabilities and equity $ 11,144,137 $ 10,470,099
[1]
(1) The Company's consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs"). See Note 2. The consolidated balance sheets include the following amounts related to our consolidated VIEs, excluding the Operating Partnership: $416.1 million and $236.7 million of land, $357.7 million and $159.1 million of building and improvements, $— million and $— million of building and leasehold improvements, $— million and $— million of right of use assets, $11.9 million and $4.1 million of accumulated depreciation, $73.4 million and $— of debt fund investments, $1,013.3 million and $709.1 million of real estate loans held by consolidated securitization vehicles, $879.3 million and $830.3 million of other assets included in other line items, $632.3 million and $357.9 million of real estate debt, net, $1.5 million and $1.1 million of accrued interest payable, $— million and $— million of lease liabilities, $1,013.3 million and $590.1 million of senior obligations of consolidated securitization vehicles and $304.4 million and $324.8 million of other liabilities included in other line items as of September 30, 2025 and December 31, 2024, respectively.