Company: SLG-PI
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047886
Chunk: 127

Company: SL GREEN REALTY CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 127
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 the end of the fourth quarter of 2024, the consolidation of 315 West 33rd Street ($1.8 million) at the end of the third quarter of 2025 and the acquisition of 500 Park Avenue ($1.4 million) in the first quarter of 2025.

Equity in net (loss) income from unconsolidated joint ventures

Equity in net loss from unconsolidated joint ventures decreased due primarily to the consolidation of 100 Park Avenue ($3.8 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 three months ended September 30, 2025, we recognized a gain on the sale of a 5.0% interest in One Vanderbilt Avenue ($87.3 million). During the three months ended September 30, 2024, we did not dispose any interests in unconsolidated joint ventures. 

Purchase price and other fair value adjustments

Purchase price and other fair value adjustments decreased due primarily to a decrease ($2.4 million) in the fair value adjustment for the secured borrowing related to the previous sale of an interest at One Madison Avenue during the three months ended September 30, 2025 compared to the same period in the prior year. 

(Loss) gain on sale of real estate, net 

(Loss) gain on sale of real estate, net decreased due primarily to a recognized gain on the sale of Palisades Premier Conference Center ($7.3 million) during the three months ended September 30, 2024. We did not dispose of any consolidated properties during the three months ended September 30, 2025.

Comparison of the nine months ended September 30, 2025 to the nine months ended September 30, 2024 

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

i.“Same-Store Properties,” which represents properties in service and operating during both the current and prior year reporting periods. (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