Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 63

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 63
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$250,000 $138,954 $136,720 February 2027Total$— $250,000 $138,954 $136,720 (1)Carrying value is net of deferred origination fees.(2)Represents contractual redemption, excluding any unexercised extension options.

6. Investments in Unconsolidated Joint Ventures

We have investments in several real estate joint ventures with various third-party partners. As of March 31, 2025, the book value of these investments was $2.7 billion, net of investments with negative book values totaling $135.9 million for which we have an implicit commitment to fund future capital needs.As of March 31, 2025 and December 31, 2024, 800 Third Avenue and our preferred equity investment in 625 Madison Avenue are VIEs in which we are not the primary beneficiary. Our net equity investment in these VIEs was $267.4 million and $263.8 million as of March 31, 2025 and December 31, 2024, respectively. Our maximum loss is limited to the amount of our equity investment in these VIEs. See the "Principles of Consolidation" section of Note 2, "Significant Accounting Policies." All other investments below are voting interest entities. As we have the ability to exercise significant influence over, but do not control, the joint ventures listed below, we account for them under the equity method of accounting.

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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)

The table below provides general information on each of our joint ventures as of March 31, 2025:PropertyPartnerEconomicInterest (1)Unaudited Approximate Square Feet800 Third AvenuePrivate Investors60.52%526,000 919 Third AvenueNew York State Teacher's Retirement System51.00%1,454,000 11 West 34th Street (2)Private Investor / Wharton Properties30.00%17,150 280 Park AvenueVornado Realty Trust50.00%1,219,158 1552-1560 Broadway (2) (3)Wharton Properties50.00%57,718 650 Fifth Avenue (2) (4)Wharton Properties50.00%69,214 11 Madison AvenuePGIM