Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 105

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 105
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       Office149,942 155,891 $73.08 $72.90 $57.12 6.2 8.6 •       Storage885 939 $32.50 $20.96 $— 4.0 10.8 Total early renewals150,827 156,830 $72.84 $72.59 $56.78 6.2 8.6 Total commenced leases, including replaced previous vacancy  •       Office671,541 $77.77 $88.34 $109.37 9.5 9.1 •       Retail 8,534 $107.90 $267.30 $62.28 8.7 18.5 •       Storage 5,634 $56.39 $28.88 $24.05 7.0 8.4 Total commenced leases685,709 $77.97 $90.48 $108.08 9.5 9.2    

(1)Annual initial base rent.

(2)Escalated rent includes base rent plus all additional amounts paid by the tenant in the form of real estate taxes, operating expenses, porters wage or a consumer price index (CPI) adjustment.

(3)Includes expiring space, relocating tenants and move-outs where tenants vacated. Excludes lease expirations where tenants held over.

(4)Average starting office rent excluding new tenants replacing vacancies was $99.16 per rentable square feet for 127,345 rentable square feet. Average starting office rent for office space (leased and early renewals, excluding new tenants replacing vacancies) was $84.80 per rentable square feet for 283,236 rentable square feet.

SUMMIT Operator Revenue

SUMMIT Operator revenues were lower for the three months ended March 31, 2025 as compared to the same period in 2024 primarily due to the timing of insurance proceeds received in 2024.

57

Investment Income

Investment income increased primarily due to interest payments received on one CMBS investment ($10.0 million). This increase was partially offset by a lower weighted average debt and preferred equity investment balance and weighted average yield for the three months ended March 31, 2025 as compared to the same period in 2024. For the three months ended March