Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 69

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 69
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,494,435 Company's investments in unconsolidated joint ventures$2,712,582 $2,690,138 (1)At March 31, 2025, $466.5 million of net unamortized basis differences between the amount at which our investments are carried and our share of equity in net assets of the underlying property will be amortized through equity in net income (loss) from unconsolidated joint ventures over the remaining life of the underlying items having given rise to the differences.The combined statements of operations for the unconsolidated joint ventures, from acquisition date through the three months ended March 31, 2025 and 2024, are as follows (in thousands):Three Months Ended March 31,20252024Total revenues$371,925 $365,339 Operating expenses68,015 65,750 Real estate taxes71,504 75,632 Operating lease rent6,581 9,025 Interest expense, net of interest income128,896 149,854 Amortization of deferred financing costs6,019 6,072 Depreciation and amortization121,305 134,178 Total expenses402,320 440,511 Gain on early extinguishment of debt— 172,519 Net (loss) income before gain on sale$(30,395)$97,347 Company's equity in net income from unconsolidated joint ventures$1,170 $111,160 

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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)

7. Deferred Costs

Deferred costs as of March 31, 2025 and December 31, 2024 consisted of the following (in thousands):March 31, 2025December 31, 2024Deferred leasing costs$285,033 $426,055 Less: accumulated amortization(170,716)(308,923)Deferred costs, net$114,317 $117,132 

8. Mortgages and Other Loans Payable

The mortgages and other loans payable collateralized by the respective properties and assignment of leases or debt investments as of March 31, 2025 and December 31, 2024, respectively, were as follows (dollars in thousands):PropertyCurrent Maturity DateFinal Maturity Date (1)InterestRate (