Company: SLG-PI
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047886
Chunk: 107

Company: SL GREEN REALTY CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 107
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3 million of investments classified as Level 3 and recognized $0.1 million of unrealized gains on those investments. (2)The Company admitted an additional partner to the One Madison Avenue development project with the partner's indirect ownership in the joint venture totaling 25.0%. The transaction did not meet sale accounting under ASC 860 and, as a result, was treated as a secured borrowing for accounting purposes and is included in Other liabilities in our consolidated balance sheets. December 31, 2024TotalLevel 1Level 2Level 3Assets:Marketable securities available-for-sale$17,323 $— $17,323 $— Interest rate cap and swap agreements (included in Other assets)$31,860 $— $31,860 $— Real estate loans held by consolidated securitization vehicles$584,134 $— $584,134 $— Liabilities:Interest rate cap and swap agreements (included in Other liabilities)$6,469 $— $6,469 $— Senior obligations of consolidated securitization vehicles$567,487 $— $567,487 $— Secured borrowing (included in Other liabilities)$251,096 $— $— $251,096 We evaluate real estate investments and debt and preferred equity investments, including intangibles, for potential impairment primarily utilizing cash flow projections that apply, among other things, estimated revenue and expense growth rates, discount rates and capitalization rates, as well as sales comparison approach, which utilizes comparable sales, listings and sales contracts, all of which are classified as Level 3 inputs.Marketable securities classified as Level 1 are derived from quoted prices in active markets. The valuation technique used to measure the fair value of marketable securities classified as Level 2 were valued based on quoted market prices or model driven valuations using the significant inputs derived from or corroborated by observable market data. We do not intend to sell these securities and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost bases.The fair value of derivative instruments is based on current market data received from financial sources that trade such instruments and are based on prevailing market data and derived from third party proprietary models based on well-recognized financial principles and reasonable estimates about relevant future market conditions, which are classified as Level 2 inputs.The senior obligations of consolidated securitization vehicles represent CMBS that are not owned