Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 80

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 80
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 October 31, 2021, HNA, through an affiliated entity, filed for Chapter 11 bankruptcy protection on account of its investment in 245 Park Avenue, together with another asset in Chicago. On July 8, 2022, certain of the debtors and affiliates of SL Green entered into a Plan Sponsorship and Investment Agreement (the "Plan"). Since the debtors did not receive any qualifying bids for the property and the Plan was confirmed, SL Green acquired full ownership and control of the property in September 2022, at which time our outstanding preferred equity and accrued interest balance were credited to our equity investment in the property. We recorded the assets acquired and liabilities assumed at fair value.

4. Properties Held for Sale and Property Dispositions

Properties Held for SaleAs of December 31, 2024 and 2023, no properties were classified as held for sale.

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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    

Property DispositionsThe following table summarizes the properties sold during the years ended December 31, 2024, 2023, and 2022:PropertyDisposition DateProperty TypeUnaudited Approximate Usable Square FeetSales Price (1)(in millions)(Loss) Gain on Sale (2)(in millions)Giorgio Armani Residences at 760 Madison Avenue (3 Condominium Units) (3)December 2024Fee Interest13,590 $63.5 $(1.5)Palisades Premier Conference CenterJuly 2024Fee Interest450,000 26.3 7.3 719 Seventh AvenueJune 2024Fee Interest10,040 30.5 (2.0)245 Park Avenue (4)June 2023Fee Interest1,782,793 1,995.0 (28.3)885 Third Avenue - Office Condominium Units (5)December 2022Fee / Leasehold Interest414,317 300.4 (24.0)609 Fifth AvenueJune 2022Fee Interest138,563 100.5 (80.2)1591-1597 BroadwayMay 2022Fee Interest7,684 121.0 (4.5)1080 Amsterdam AvenueApril 2022Leasehold Interest85,250 42.7 17.9 707 Eleventh AvenueFebruary 2022Fee