Company: SLG-PI
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047886
Chunk: 134

Company: SL GREEN REALTY CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 134
---
 million) and 280 Park Avenue ($22.9 million) during the nine months ended September 30, 2024. This was partially offset by the consolidation of 100 Park Avenue ($12.1 million) at the end of the fourth quarter of 2024.

Equity in net gain on sale of interest in unconsolidated joint venture/real estate

During the nine months ended September 30, 2025, we recognized a gain on the sale of our interest in One Vanderbilt Avenue ($87.3 million) offset by a loss on the sale of our interest in 85 Fifth Avenue ($2.3 million). During the nine months ended September 30, 2024, we recognized a gain on the sale of our interest in 717 Fifth Avenue ($24.9 million) offset by a loss on the sale of our interest in 625 Madison Avenue ($7.3 million).

Purchase price and other fair value adjustments

During the nine months ended September 30, 2025, we recorded a $13.0 million negative fair value adjustment related to the initial valuation of Palisades Conference Center and a $4.0 million negative fair value adjustment related to derivatives that are not designated as hedges for accounting purposes, partially offset by a $14.2 million positive fair value adjustment for the secured borrowing related to the previous sale of an interest at One Madison Avenue. During the nine months ended September 30, 2024, we recorded a $55.7 million negative fair value adjustment relating to the consolidation of 10 East 53rd Street and a $2.6 million negative fair value adjustment related to derivatives that are not designated as hedges for accounting purposes, partially offset by a $21.9 million positive fair value adjustment for the secured borrowing related to the previous sale of an interest at One Madison Avenue.

(Loss) gain on sale of real estate, net

During the nine months ended September 30, 2024, we recognized a gain on the sale of Palisades Premier Conference Center ($7.3 million) and a loss on the sale of 719 Seventh Avenue ($2.1 million). 

Depreciable real estate reserves and impairment

During the nine months ended September 30, 2025, we recognized depreciable real estate reserves and impairments at 760 Madison Avenue ($8.5 million). During the nine months ended September 30, 2024, we recognized deprec