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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Commercial real estate properties, at cost:    
Land and land interests $ 1,848,531 $ 1,699,215
Building and improvements 4,298,249 4,012,305
Building leasehold and improvements 1,465,411 1,448,112
Total commercial real estate properties, at cost 7,612,191 7,159,632
Less: accumulated depreciation (2,321,290) (2,306,377)
Total commercial real estate properties, net 5,290,901 4,853,255
Assets held for sale 211,222 0
Cash and cash equivalents 143,867 155,747
Restricted cash 194,772 180,748
Investments in marketable securities 25,330 23,666
Tenant and other receivables 56,724 45,524
Related party receivables 25,161 16,293
Deferred rents receivable 262,730 266,678
Debt and preferred equity investments, net of discounts and deferred origination fees of $5 and $14 and allowances of $300 and $454 in 2026 and 2025, respectively 118,083 168,358
Investments in unconsolidated joint ventures 2,500,573 2,624,755
Debt fund investments, at fair value 293,243 152,958
Deferred costs, net of amortization of $178,841 and $174,617, respectively 129,428 129,019
Right-of-use assets - operating leases 909,377 864,430
Real estate loans held by consolidated securitization vehicles, at fair value 1,027,164 1,023,877
Other assets 570,175 577,299
Total assets [1] 11,758,750 11,082,607
Liabilities    
Mortgages and other loans payable, net 2,491,849 2,146,049
Revolving credit facility, net 813,953 637,796
Unsecured term loans, net 1,142,660 1,147,591
Accrued interest payable 19,791 15,221
Senior obligations of consolidated securitization vehicles, at fair value 1,027,164 1,023,877
Other liabilities 241,392 392,756
Accounts payable and accrued expenses 118,912 134,621
Deferred revenue 168,980 147,419
Lease liability - financing leases 108,515 108,183
Lease liability - operating leases 851,142 805,192
Dividend and distributions payable 49,380 2,536
Security deposits 73,638 68,276
Liabilities related to assets held for sale 189,842 0
Junior subordinated deferrable interest debentures held by trusts that issued trust preferred securities 100,000 100,000
Total liabilities [1] 7,397,218 6,729,517
Commitments and contingencies (See Note 19)
Noncontrolling interests in Operating Partnership 259,415 241,371
Preferred units and redeemable equity 204,319 199,271
Equity    
Series I Preferred Stock, $0.01 par value, $25.00 liquidation preference, 9,200 issued and outstanding at both March 31, 2026 and December 31, 2025 221,932 221,932
Common stock, $0.01 par value, 160,000 shares authorized and 71,124 and 71,159 issued and outstanding at March 31, 2026 and December 31, 2025, respectively 711 711
Additional paid-in-capital 4,213,856 4,212,590
Accumulated other comprehensive loss (7,287) (22,198)
Retained deficit (892,890) (741,880)
Total SL Green stockholders' equity 3,536,322 3,671,155
Noncontrolling interests in other partnerships 361,476 241,293
Total equity 3,897,798 3,912,448
Total liabilities and equity $ 11,758,750 $ 11,082,607
[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: $369.9 million and $185.2 million of land, $685.5 million and $207.5 million of building and improvements, $— million and $— million of building and leasehold improvements, $— million and $— million of right of use assets, $8.0 million and $6.3 million of accumulated depreciation, $293.2 million and $153.0 million of debt fund investments, $1,027.2 million and $1,023.9 million of real estate loans held by consolidated securitization vehicles, $628.7 million and $862.5 million of other assets included in other line items, $856.1 million and $328.6 million of real estate debt, net, $2.3 million and $0.9 million of accrued interest payable, $— million and $— million of lease liabilities, $1,027.2 million and $1,023.9 million of senior obligations of consolidated securitization vehicles and $230.5 million and $287.5 million of other liabilities included in other line items as of March 31, 2026 and December 31, 2025, respectively.