Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 99

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 99
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295)Depreciable real estate reserves(8,546)Depreciable real estate reserves in unconsolidated joint venture(1,780)Loss on sale of real estate, net(482)Purchase price and other fair value adjustments(9,611)Depreciation and amortization(63,738)Amortization of deferred financing costs(1,687)Interest expense, net of interest income(38,636)Net Loss$(21,545)

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Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)March 31, 2025(unaudited)

March 31, 2024Real Estate SegmentSUMMIT SegmentDPE SegmentTotalTotal revenues$154,875 $25,604 $7,403 $187,882 Expenses:SUMMIT Operator expenses— 21,858 — SUMMIT Operator tax benefit— (1,295)— Operating Expenses43,608 — — Real Estate Taxes31,606 — — Operating lease rent6,405 — — Net operating income from unconsolidated joint ventures$184,468 Real Estate segment Net operating income$257,724 $257,724 Depreciation and amortization(588)— Interest expense, net of interest income— (6,194)SUMMIT Net income and DPE Net income$4,453 $1,209 $5,662 Non-operating net loss from unconsolidated joint ventures(73,308)Marketing, general and administrative expense(21,313)Transaction related costs(16)Depreciable real estate reserves(52,118)Purchase price and other fair value adjustments(50,492)Equity in net gain on sale of interest in unconsolidated joint venture/real estate26,764 Depreciation and amortization(47,996)Amortization of deferred financing costs(1,539)Interest expense, net of interest income(24,979)Net Income$18,389 

For the real estate segment, the primary sources of revenue are tenant rents and escalations and reimbursement revenue. See Note 5, "Debt and Preferred Equity Investments," for additional details on our debt and preferred equity investments. We allocate loan loss reserves, net of recoveries, and transaction related costs to the debt and preferred equity segment. SUMMIT currently operates one location at One