Company: SLG-PI
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047886
Chunk: 92

Company: SL GREEN REALTY CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 92
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 Madison Avenue Giorgio Armani Residence Condominium UnitIn July 2024, the Company entered into an agreement to sell one of the Giorgio Armani Residence condominium units located at 760 Madison Avenue to an entity owned by a trust of which the beneficiaries are the family members of our Chairman, CEO and Interim President, Marc Holliday, for $8.4 million. The transaction closed in February 2025.

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

OtherWe receive fees for providing management, leasing, construction supervision and asset management services to certain of our joint ventures as further described in Note 6, "Investments in Unconsolidated Joint Ventures." Amounts due from joint ventures, inclusive of our ownership share of the joint ventures, and related parties as of September 30, 2025 and December 31, 2024 consisted of the following (in thousands):September 30, 2025December 31, 2024Due from joint ventures$14,802 $19,199 Other485 7,666 Related party receivables$15,287 $26,865 

11. Noncontrolling Interests on the Company's Consolidated Financial Statements

Noncontrolling interests represent the common and preferred units of limited partnership interest in the Operating Partnership not held by the Company as well as third party equity interests in our other consolidated subsidiaries. Noncontrolling interests in the Operating Partnership are shown in the mezzanine equity while the noncontrolling interests in our other consolidated subsidiaries are shown in the equity section of the Company’s consolidated financial statements.Common Units of Limited Partnership Interest in the Operating PartnershipAs of September 30, 2025 and December 31, 2024, the noncontrolling interest unit holders owned 6.39%, or 4,849,771 units, and 5.97%, or 4,509,953 units, of the Operating Partnership, respectively. As of September 30, 2025, 4,849,771 shares of our common stock were reserved for issuance upon the redemption of units of limited partnership interest of the Operating Partnership.Noncontrolling interests in the Operating Partnership is recorded at the greater of its cost basis or fair market value based on the closing stock price of our common stock at the end of the reporting period.Below is a summary of the