Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 125

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 125
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177,000 1.555 %December 2022February 2026Asset4,964 Interest Rate Swap268,750 4.039 %July 2024September 2028Liability(534)Interest Rate Swap268,750 4.058 %July 2024September 2028Liability(711)Interest Rate Swap537,500 4.065 %July 2024September 2028Liability(1,628)$5,859 

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Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)December 31, 2024    

18. Lease Income

The Operating Partnership is the lessor and the sublessor to tenants under operating and sales-type leases. The minimum rental amounts due under the leases are generally subject to scheduled fixed increases or adjustments. The leases generally also require that the tenants reimburse us for increases in certain operating costs and real estate taxes above their base year costs. Future minimum rents to be received over the next five years and thereafter for operating leases in effect at December 31, 2024 are as follows (in thousands):2025$544,452 2026507,298 2027454,095 2028390,475 2029355,565 Thereafter1,402,994 $3,654,879 The components of lease income from operating leases in our consolidated statements of operations for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):Year Ended December 31,202420232022Fixed lease payments$545,573 $589,469 $583,107 Variable lease payments63,004 79,641 82,676 Total lease payments (1)$608,577 $669,110 $665,783 Amortization of acquired above and below-market leases(2,578)14,225 5,717 Total rental revenue$605,999 $683,335 $671,500 (1)Amounts include $188.5 million and $196.5 million of sublease income for the years ended December 31, 2024 and 2023, respectively.The table below summarizes our investment in sales-type leases as of December 31, 2024:PropertyYear of Current ExpirationYear of Final Expiration (1)15 Beekman