Company: SLG-PI
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047886
Chunk: 79

Company: SL GREEN REALTY CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 79
---
 Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)September 30, 2025(unaudited)

Disposition of Joint Venture Interests or Properties The following table summarizes the investments in unconsolidated joint ventures sold during the nine months ended September 30, 2025.PropertyOwnership Interest SoldDisposition DateGross Asset Valuation (in millions)(Loss) Gain on Sale (in millions) (1) (2)85 Fifth Avenue36.27%April 2025$46.8 $(1.9)625 Madison Avenue50.00%July 2025235.0 — One Vanderbilt Avenue5.00%September 20254,700.0 87.3 (1)Represents the Company's share of the loss.(2)For the nine months ended September 30, 2025, the gain on sale is net of $11.0 million of employee compensation recognized in connection with the investment dispositions. Amounts do not include adjustments for expenses recorded in subsequent periods.Acquisition of Joint Venture Interests or PropertiesWe did not acquire any investments in unconsolidated joint ventures during the nine months ended September 30, 2025.Joint Venture Mortgages and Other Loans PayableWe generally finance our joint ventures with non-recourse debt. In certain cases, we may provide guarantees or master leases, which terminate upon the satisfaction of specified circumstances or repayment of the underlying loans. The mortgage notes and other loans payable collateralized by the respective joint venture properties and assignment of leases as of September 30, 2025 and December 31, 2024, respectively, are as follows (dollars in thousands):

37

Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)September 30, 2025(unaudited)

Principal OutstandingPrincipal OutstandingEconomicCurrent MaturityFinal Maturity InterestSeptember 30, 2025December 31, 2024PropertyInterest (1)DateDate (2)Rate (3)GrossSLG ShareGrossSLG ShareFixed Rate Debt:650 Fifth Avenue ⁽⁴⁾50.00 %January 2026 ⁽⁴⁾July 2026 ⁽⁴⁾5.45%$65,000 $32,500 $65,000 $32,500 15 Beekman20.00 %January 2026January 202