Company: SLG-PI
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047886
Chunk: 147

Company: SL GREEN REALTY CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 147
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 are as follows (in thousands):

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Net income (loss) attributable to SL Green common stockholders$24,874 $(13,279)$(7,293)$(2,298)Add:Depreciation and amortization63,216 53,176 187,874 154,007 Joint venture depreciation and noncontrolling interest adjustments124,984 71,539 246,348 218,035 Net income (loss) attributable to noncontrolling interests4,395 (1,899)(3,582)(4,316)Less:Equity in net gain on sale of interest in unconsolidated joint venture/real estate86,872 371 84,926 19,006 Purchase price and other fair value adjustments9,652 21,937 (5,291)(33,765)(Loss) gain on sale of real estate, net(1,068)7,471 (1,717)4,730 Depreciable real estate reserves and impairment— — (8,546)(65,839)Depreciable real estate reserves in unconsolidated joint venture— — (1,780)— Depreciation on non-rental real estate assets1,628 1,204 4,312 3,357 Funds from Operations attributable to SL Green common stockholders and unit holders$120,385 $78,554 $351,443 $437,939 

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