Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 104

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 104
---
Depreciable real estate reserves and impairment(8.5)(52.1)43.6 (83.7)%Loan loss and other investment reserves, net of recoveries25.0 — 25.0 100.0 %Net (loss) income$(21.5)$18.4 $(39.9)(216.8)%

56

Rental Revenue

Rental revenues increased due primarily to the consolidation of 100 Park Avenue ($10.0 million) at the end of the fourth quarter of 2024 and 10 East 53rd Street ($8.1 million) at the end of the first quarter of 2024 and the acquisition of 500 Park Avenue ($3.8 million) in the first quarter of 2025.

The following table presents a summary of the commenced leasing activity for the three months ended March 31, 2025 in our Manhattan and Suburban portfolio:

 UsableSFRentableSFNewCashRent (perrentableSF) (1)Prev.EscalatedRent (perrentableSF) (2)TI/LCperrentableSFFreeRent (inmonths)AverageLeaseTerm (inyears)Manhattan       Space available at beginning of the period2,628,302      Acquired vacancies11,118 Space which became available during the period (3)     •       Office340,177       •       Retail17,188       •       Storage1,653        359,018       Total space available2,998,438       Leased space commenced during the period:       •       Office(4)476,509 515,650 $79.18 $107.23 $125.16 10.5 9.2 •       Retail8,341 8,534 $107.90 $267.30 $62.28 8.7 18.5 •       Storage3,260 4,695 $61.17 $75.95 $28.86 7.5 7.9 Total leased space commenced488,110 528,879 $79.49 $111.84 $123.29 10.5 9.3 Total available space at end of period2,510,328       Early renewals      •