Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 28

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 28
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 72,238 121,364 146,496 Net loss attributable to noncontrolling interests(1,615)(2,024)(7,977)(2,417)Less:Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate(1,946)(8,129)(1,946)18,635 Purchase price and other fair value adjustments(8,399)(50)(14,943)(55,702)Loss on sale of real estate, net(167)(2,741)(649)(2,741)Depreciable real estate reserves and impairment— (13,721)(8,546)(65,839)Depreciable real estate reserves in unconsolidated joint venture— — (1,780)— Depreciation on non-rental real estate assets1,421 1,000 2,684 2,153 Funds from Operations attributable to SL Green common stockholders and unit holders$124,547 $143,942 $231,058 $359,385 

Seasonality

Our business at SUMMIT is subject to tourism trends and weather conditions, resulting in seasonal fluctuation. In 2024, approximately 19.0% of our annual SUMMIT revenue was realized in the first quarter, 26.0% was realized in the second quarter, 28.0% was realized in the third quarter, and 27.0% was realized in the fourth quarter. We do not consider any other components of our business to be subject to material seasonal fluctuations.

Accounting Standards Updates

The Accounting Standards Updates are discussed in Note 2, "Significant Accounting Policies Accounting Standards Updates" in the accompanying consolidated financial statements.

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Forward-Looking Information

This report includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this report that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are