Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 8

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 8
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Loss on sale of real estate, net 

Loss on sale of real estate, net decreased primarily due to a loss recognized on the sale of 719 Seventh Avenue ($2.0 million) during the three months ended June 30, 2024.

Depreciable real estate reserves and impairment

During the three months ended June 30, 2025, we did not recognize any depreciable real estate reserves and impairment.  During the three months ended June 30, 2024, we recognized a depreciable real estate reserve and impairment related to the condominium units at 760 Madison Avenue ($13.7 million), reflective of $13.2 million of capitalized interest.

Gain on early extinguishment of debt

During the three months ended June 30, 2025, we did not recognize any gain on the extinguishment of debt. During the three months ended June 30, 2024, we recognized a $17.8 million gain on discounted debt extinguishment at 719 Seventh Avenue.

Loan loss and other investment reserves, net of recoveries

During the three months ended June 30, 2025, we recognized a loan loss recovery of $46.6 million related to the repayment of the commercial mortgage investment at 522 Fifth Avenue during the period. 

Gain on sale of  marketable securities

During the three months ended June 30, 2025, we recognized a gain on marketable securities sold during the period ($10.2 million).

Comparison of the six months ended June 30, 2025 to the six months ended June 30, 2024 

The following comparison for the six months ended June 30, 2025, or 2025, to the six months ended June 30, 2024, or 2024, makes reference to the effect of the following:

i.“Same-Store Properties,” which represents all operating properties owned by us at January 1, 2024 and still owned by us in the same manner as of June 30, 2025 (Same-Store Properties totaled 22 of our 28 consolidated operating properties),

ii.“Acquisition Properties,” which represents all properties or interests in properties acquired in 2025 and 2024 and all non-Same-Store Properties, including properties that are under development, redevelopment or were deconsolidated during the period,

iii."Disposed Properties," which represents all properties or interests in properties sold or partially sold in 2025 and