Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 81

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 81
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 Interest159,720 95.0 (0.8)(1)Sales price represents the gross sales price for a property or the gross asset valuation for interests in a property.(2)The (losses) gains on sale are net of $5.1 million, $11.3 million, and $11.2 million of employee compensation accrued in connection with the realization of the investment dispositions during the years ended December 31, 2024, 2023, and 2022, respectively. Additionally, amounts do not include adjustments for expenses recorded in subsequent periods.(3)The remaining condominium units at 760 Madison are under contract and expected to close once completed in the first quarter of 2025.(4)In June 2023, the Company sold a 49.9% interest, which resulted in the Company no longer retaining a controlling interest in the entity, as defined in ASC 810, and deconsolidation of the 50.1% interest we retained. We recorded our retained investment at fair value which resulted in the recognition of a fair value adjustment of ($17.0 million) that is reflected in the Company's consolidated statements of operations within Purchase price and other fair value adjustments. See Note 6, "Investments in Unconsolidated Joint Venture" and Note 16, " Fair Value Measurements."(5)In December 2022, the Company sold 414,317 square feet of office leasehold condominium units at the property. The Company retained the remaining 218,796 square feet of the building.

5. Debt and Preferred Equity Investments

Below is a summary of the activity in our debt and preferred equity investments for the years ended December 31, 2024 and 2023 (in thousands):December 31, 2024December 31, 2023Balance at beginning of year (1)$346,745 $623,280 Debt investment originations/fundings/accretion (2)12,890 72,160 Preferred equity investment originations/accretion (2) (3)8,720 8,142 Redemptions/sales/syndications/equity ownership/amortization(64,629)(349,947)Net change in loan loss reserves— (6,890)Balance at end of period (1) (4)$303,726 $346,745 (1)Net of unamortized fees, discounts, and premiums.(2