SLグリーンリアルティの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

October 16, 2024

SL GREEN REALTY CORP.

(Exact name of registrant as specified in its charter)

Maryland

(State or other jurisdiction of incorporation or organization)


1-13199			13-3956775
(Commission File Number)			(I.R.S. Employer Identification No.)


One Vanderbilt Avenue		10017
New York,	New York	(Zip Code)
(Address of principal executive offices)

(212) 594-2700

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[☐] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[☐] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[☐] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[☐] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Registrant

Trading Symbol

Title of Each Class

Name of Each Exchange on Which Registered

SL Green Realty Corp.

SLG

Common Stock, $0.01 par value

New York Stock Exchange

SL Green Realty Corp.

SLG.PRI

6.500% Series I Cumulative Redeemable Preferred Stock, $0.01 par value

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company [☐]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act [ ]

Item 2.02. Results of Operations and Financial Condition

Following the issuance of a press release on October 16, 2024 announcing SL Green Realty Corp.’s, or the Company, results for the quarter ended September 30, 2024, the Company has made available on its website supplemental information regarding the Company’s operations that is too voluminous for a press release. The Company is attaching the press release as Exhibit 99.1 and the supplemental package as Exhibit 99.2 to this Current Report on Form 8-K.

The information (including Exhibits 99.1 and 99.2) being furnished pursuant to this “Item 2.02. Results of Operations and Financial Condition” shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Act, or the Exchange Act regardless of any general incorporation language in such filing.

Item 7.01. Regulation FD Disclosure

As discussed in Item 2.02 above, on October 16, 2024, the Company issued a press release announcing its results for the quarter ended September 30, 2024.

The information being furnished pursuant to this “Item 7.01. Regulation FD Disclosure” shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act regardless of any general incorporation language in such filing. This information will not be deemed an admission as to the materiality of such information that is required to be disclosed solely by Regulation FD.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

99.1 Press release regarding results for the quarter ended September 30, 2024.

99.2 Supplemental package.

Non-GAAP Supplemental Financial Measures

Funds from Operations (FFO)

FFO is a widely recognized non-GAAP financial measure of REIT performance. The Company computes FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, or NAREIT, which may not be comparable to FFO reported by other REITs that do not compute FFO in accordance with the NAREIT definition, or that interpret the NAREIT definition differently than the Company does. The revised White Paper on FFO approved by the Board of Governors of NAREIT in April 2002, and subsequently amended in December 2018, defines FFO as net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from sales of properties, and real estate related impairment charges, plus real estate related depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures.

The Company presents FFO because it considers it an important supplemental measure of the Company’s operating performance and believes that it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, particularly those that own and operate commercial office properties. The Company also uses FFO as one of several criteria to determine performance-based compensation for members of its senior management. FFO is intended to exclude GAAP historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate assets diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. Because FFO excludes depreciation and amortization unique to real estate, gains and losses from property dispositions, and real estate related impairment charges, it provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, and interest costs, providing perspective not immediately apparent from net income. FFO does not represent cash generated from operating activities in accordance with GAAP and should not be considered as an alternative to net income (determined in accordance with GAAP), as an indication of the Company’s financial performance or to cash flow from operating activities (determined in accordance with GAAP) as a measure of the Company’s liquidity, nor is it indicative of funds available to fund the Company’s cash needs, including the Company's ability to make cash distributions.

Funds Available for Distribution (FAD)

FAD is a non-GAAP financial measure that is calculated as FFO plus non-real estate depreciation, allowance for straight line credit loss, adjustment for straight line operating lease rent, non-cash deferred compensation, and pro-rata adjustments for these items from the Company's unconsolidated JVs, less straight line rental income, free rent net of amortization, second cycle tenant improvement and leasing costs, and recurring capital expenditures.

FAD is not intended to represent cash flow for the period and is not indicative of cash flow provided by operating activities as determined in accordance with GAAP. FAD is presented solely as a supplemental disclosure with respect to liquidity because the Company believes it provides useful information regarding the Company’s ability to fund its dividends. Because all companies do not calculate FAD the same way, the presentation of FAD may not be comparable to similarly titled measures of other companies. FAD does not represent cash flow from operating, investing and finance activities in accordance with GAAP and should not be considered as an alternative to net income (determined in accordance with GAAP), as an indication of the Company’s financial performance, as an alternative to net cash flows from operating activities (determined in accordance with GAAP), or as a measure of the Company’s liquidity.

Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate (EBITDAre)

EBITDAre is a non-GAAP financial measure. The Company computes EBITDAre in accordance with standards established by NAREIT, which may not be comparable to EBITDAre reported by other REITs that do not compute EBITDAre in accordance with the NAREIT definition, or that interpret the NAREIT definition differently than the Company does. The White Paper on EBITDAre approved by the Board of Governors of NAREIT in September 2017 defines EBITDAre as net income (loss) (computed in accordance with Generally Accepted Accounting Principles, or GAAP), plus interest expense, plus income tax expense, plus depreciation and amortization, plus (minus) losses and gains on the disposition of depreciated property, plus impairment write-downs of depreciated property and investments in unconsolidated joint ventures, plus adjustments to reflect the entity's share of EBITDAre of unconsolidated joint ventures.

The Company presents EBITDAre because the Company believes that EBITDAre, along with cash flow from operating activities, investing activities and financing activities, provides investors with an additional indicator of the Company’s ability to incur and service debt. EBITDAre should not be considered as an alternative to net income (determined in accordance with GAAP), as an indication of the Company’s financial performance, as an alternative to net cash flows from operating activities (determined in accordance with GAAP), or as a measure of the Company’s liquidity.

Net Operating Income (NOI) and Cash NOI

NOI is a non-GAAP financial measure that is calculated as operating income before transaction related costs, gains/losses on early extinguishment of debt, marketing general and administrative expenses and non-real estate revenue. Cash NOI is also a non-GAAP financial measure that is calculated by subtracting free rent (net of amortization), straight-line rent, and the amortization of acquired above and below-market leases from NOI, while adding operating lease straight-line adjustment and the allowance for straight-line tenant credit loss.

The Company presents NOI and Cash NOI because the Company believes that these measures, when taken together with the corresponding GAAP financial measures and reconciliations, provide investors with meaningful information regarding the operating performance of properties. When operating performance is compared across multiple periods, the investor is provided with information not immediately apparent from net income that is determined in accordance with GAAP. NOI and Cash NOI provide information on trends in the revenue generated and expenses incurred in operating the Company's properties, unaffected by the cost of leverage, straight-line adjustments, depreciation, amortization, and other net income components. The Company uses these metrics internally as performance measures. None of these measures is an alternative to net income (determined in accordance with GAAP) and same-store performance should not be considered an alternative to GAAP net income performance.

Coverage Ratios

The Company presents fixed charge and debt service coverage ratios to provide a measure of the Company’s financial flexibility to service current debt amortization, interest expense and operating lease rent from current cash net operating income. These coverage ratios represent a common measure of the Company’s ability to service fixed cash payments; however, these ratios are not used as an alternative to cash flow from operating, financing and investing activities (determined in accordance with GAAP).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


			SL GREEN REALTY CORP.

			/s/ Matthew J. DiLiberto
			Matthew J. DiLiberto
			Chief Financial Officer

Date: October 17, 2024

EX-99.1 2 a24q3earningsrelease.htm EX-99.1 Document

Exhibit 99.1

SL GREEN REALTY CORP. REPORTS

THIRD QUARTER 2024 EPS OF ($0.21) PER SHARE;

AND FFO OF $1.13 PER SHARE

Financial and Operating Highlights

•Net loss attributable to common stockholders of $0.21 per share for the third quarter of 2024 as compared to net loss of $0.38 per share for the same period in 2023.

•Funds from operations ("FFO") of $1.13 per share for the third quarter of 2024, which was reduced by $9.0 million, or $0.13 per share, of non-recurring, non-cash fair value adjustments on mark-to-market derivatives. The Company reported FFO of $1.27 per share for the same period in 2023.

•Signed 42 Manhattan office leases covering 763,755 square feet in the third quarter of 2024 and 140 Manhattan office leases covering 1,817,928 square feet in the first nine months of 2024. The mark-to-market on signed Manhattan office leases was 10.8% higher for the third quarter and 8.2% higher for the first nine months of 2024 than the previous fully escalated rents on the same spaces.

•To date in 2024, signed 150 Manhattan office leases covering 2,795,746 square feet with a mark-to-market of 12.4% higher than the previous fully escalated rents on the same spaces, while maintaining a current pipeline of approximately 1.1 million square feet.

•Same-store cash net operating income ("NOI"), including the Company's share of same-store cash NOI from unconsolidated joint ventures, increased 2.9% for the third quarter and 0.1% for the first nine months of 2024, excluding lease termination income, as compared to the same periods in 2023.

•Manhattan same-store office occupancy increased to 90.1% as of September 30, 2024, inclusive of leases signed but not yet commenced. The Company expects to increase Manhattan same-store office occupancy, inclusive of leases signed but not yet commenced, to 92.5% by December 31, 2024.

Investing Highlights

•Closed on the previously announced sale of the Palisades Premier Conference Center for $26.3 million plus certain fees payable to the Company. The Company took control of the property in July 2023 in partial satisfaction of a legal judgement. The transaction generated net proceeds to the Company of $19.8 million.

Financing Highlights

•Together with our joint venture partner, closed on a modification and extension of the mortgage on 220 East 42nd Street. The modification included a paydown of the principal balance by $9.0 million to $496.4 million and extended the maturity date to December 2027. The interest rate was maintained at 2.75% over Term SOFR, which the joint venture fixed at 6.77% through the extended maturity date.

•The Company has completed $2.6 billion of strategic debt modifications and extensions across its portfolio pursuant to its strategy to refinance, modify or extend at least $5.0 billion of existing debt.

Special Servicing and Asset Management Highlights

•The Company further expanded its special servicing business with active assignments now totaling $5.0 billion and an additional $6.8 billion of assignments where the Company has been designated as special servicer on assets that are not currently in special servicing.

NEW YORK, October 16, 2024 - SL Green Realty Corp. (the "Company") (NYSE: SLG) today reported a net loss attributable to common stockholders for the quarter ended September 30, 2024 of $13.3 million and $0.21 per share as compared to a net loss of $24.0 million and $0.38 per share for the same quarter in 2023.

The Company also reported net loss attributable to common stockholders for the nine months ended September 30, 2024 of $2.3 million and $0.06 per share as compared to a net loss of $423.9 million and $6.63 per share for the same period in 2023.

The Company reported FFO for the quarter ended September 30, 2024 of $78.6 million and $1.13 per share, or $87.6 million and $1.26 per share, net of $9.0 million, or $0.13 per share, of non-recurring, non-cash fair value adjustments on mark-to-market derivatives. The Company reported FFO of $87.7 million and $1.27 per share for the same period in 2023.

The Company also reported FFO for the nine months ended September 30, 2024 of $437.9 million and $6.30 per share, which includes $190.1 million, or $2.74 per share, of gains on discounted debt extinguishments at 2 Herald Square, 280 Park Avenue, and 719 Seventh Avenue as offset by $2.5 million, or $0.04 per share, of negative non-cash fair value adjustments on mark-to-market derivatives. The Company reported FFO of $291.6 million and $4.23 per share for the same period in 2023.

All per share amounts are presented on a diluted basis.

Operating and Leasing Activity

Same-store cash NOI, including the Company's share of same-store cash NOI from unconsolidated joint ventures, increased by 1.7% for the third quarter of 2024, or 2.9% excluding lease termination income, as compared to the same period in 2023.

Same-store cash NOI, including the Company's share of same-store cash NOI from unconsolidated joint ventures, increased by 0.6% for the nine months ended September 30, 2024, and increased 0.1% excluding lease termination income, as compared to the same period in 2023.

During the third quarter of 2024, the Company signed 42 office leases in its Manhattan office portfolio totaling 763,755 square feet. The average rent on the Manhattan office leases signed in the third quarter of 2024, excluding leases signed at One Vanderbilt and One Madison, was $102.49 per rentable square foot with an average lease term of 11.4 years and average tenant concessions of 12.2 months of free rent with a tenant improvement allowance of $114.90 per rentable square foot. Twenty-five leases comprising 566,138 square feet, representing office leases on space that had been occupied within the prior twelve months, are considered replacement leases on which mark-to-market is calculated. Those replacement leases had average starting rents of $107.13 per rentable square foot, representing a 10.8% increase over the previous fully escalated rents on the same office spaces.

During the nine months ended September 30, 2024, the Company signed 140 office leases in its Manhattan office portfolio totaling 1,817,928 square feet. The average rent on the Manhattan office leases signed in 2024, excluding leases signed at One Vanderbilt and One Madison, was $93.13 per rentable square foot with an average lease term of 9.3 years and average tenant concessions of 9.3 months of free rent with a tenant improvement allowance of $86.50 per rentable square foot. Seventy-eight leases comprising 1,126,854 square feet, representing office leases on space that had been occupied within the prior twelve months, are considered replacement leases on which mark-to-market is calculated. Those replacement leases had average starting rents of $100.82 per rentable square foot, representing a 8.2% increase over the previous fully escalated rents on the same office spaces.

Occupancy in the Company's Manhattan same-store office portfolio increased to 90.1% as of September 30, 2024, inclusive of 350,286 square feet of leases signed but not yet commenced, as compared to 89.6% at the end of the previous quarter. The Company expects to increase Manhattan same-store office occupancy, inclusive of leases signed but not yet commenced, to 92.5% by December 31, 2024.

Significant leasing activity in the third quarter and to date in October includes:

•Early renewal and expansion with Bloomberg, L.P. for 924,876 square feet at 919 Third Avenue;

•Early renewal and expansion with Ares Management LLC for 307,336 square feet at 245 Park Avenue;

•Early renewal and expansion with Industrial and Commercial Bank of China Limited, New York Branch for 132,938 square feet at 1185 Avenue of the Americas;

•Renewal with SP Plus Corporation for 64,926 square feet at 555 West 57th Street;

•Early renewal with Golenbock Eiseman Assor Bell & Peskeoe LLP for 38,050 square feet at 711 Third Avenue;

•Two early renewal and expansions of 51,960 and 34,640 square feet with Berkley Research Group, LLC and Mirae Asset Securities (USA), Inc., respectively, at 810 Seventh Avenue;

•New lease with TD Bank, N.A. for 26,225 square feet at 125 Park Avenue;

•New lease with Penton Learning Systems, LLC for 22,422 square feet at 420

Lexington Avenue; and

•Early renewal with Renaissance Technologies LLC for 20,010 square feet at 800 Third Avenue.

Investment Activity

In July, the Company closed on the previously announced sale of the Palisades Premier Conference Center for $26.3 million plus certain fees payable to the Company. The Company took control of the property in July 2023 in partial satisfaction of a legal judgement. The transaction generated net proceeds to the Company of $19.8 million.

Debt and Preferred Equity Investment Activity

The carrying value of the Company’s debt and preferred equity portfolio was $503.8 million at September 30, 2024, including $209.9 million representing the Company's share of the preferred equity investment in 625 Madison Avenue that is accounted for as an unconsolidated joint venture. The portfolio had a weighted average current yield of 7.4% as of September 30, 2024, or 8.7% excluding the effect of a $50.0 million investment that is on non-accrual.

During the third quarter of 2024, the Company invested $108.9 million in real estate debt and commercial mortgage-backed securities.

Financing Activity

In July, together with our joint venture partner, closed on a modification and extension of the $505.4 million mortgage on 220 East 42nd Street. The modification included a paydown of the principal balance by $9.0 million to $496.4 million and extended the maturity date to December 2027. The interest rate was maintained at 2.75% over Term SOFR, which the joint venture fixed at 6.77% through the extended maturity date.

The Company has completed $2.6 billion of strategic debt modifications and extensions across its portfolio pursuant to its strategy to refinance, modify or extend at least $5.0 billion of existing debt.

Special Servicing and Asset Management Activity

The Company further expanded its special servicing business with active assignments now totaling $5.0 billion and an additional $6.8 billion of assignments where the Company has been designated as special servicer on assets that are not currently in special servicing. Since inception, the Company's cumulative special servicing and asset management appointments total $20.1 billion.

Institutional Investor Conference

The Company will host its Annual Institutional Investor Conference on Monday, December 9, 2024 beginning at 9:00 AM ET. The event will be held in-person, by invitation only. The presentation will be available online via audio webcast, in listen only mode, and the accompanying presentation materials can be accessed in the Investors section of the SL Green Realty Corp. website at www.slgreen.com on the day of the conference. An audio replay of the presentation will be available in the Investors section of the SL Green Realty Corp. website following the conference.

For more information about the event, please email SLG2024@slgreen.com.

Dividends

In the third quarter of 2024, the Company declared:

•Three monthly ordinary dividends on its outstanding common stock of $0.25 per share, which were paid in cash on August 15, September 16, and October 15, 2024, equating to an annualized dividend of $3.00 per share of common stock; and

•A quarterly dividend on its outstanding 6.50% Series I Cumulative Redeemable Preferred Stock of $0.40625 per share for the period July 15, 2024 through and including October 14, 2024, which was paid in cash on October 15, 2024 and is the equivalent of an annualized dividend of $1.625 per share.

Conference Call and Audio Webcast

The Company's executive management team, led by Marc Holliday, Chairman and Chief Executive Officer, will host a conference call and audio webcast on Thursday, October 17, 2024, at 2:00 pm ET to discuss the financial results.

Supplemental data will be available prior to the quarterly conference call in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under “Financial Reports.”

The live conference call will be webcast in listen-only mode and a replay will be available in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under “Presentations & Webcasts.”

Research analysts who wish to participate in the conference call must first register at https://register.vevent.com/register/BI244a0311fb7043b5ac804fc1ac187dcb.

Company Profile

SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2024, SL Green held interests in 55 buildings totaling 31.8 million square feet. This included ownership interests in 28.1 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments.

To obtain the latest news releases and other Company information, please visit our website at www.slgreen.com or contact Investor Relations at investor.relations@slgreen.com.

Disclaimers

Non-GAAP Financial Measures

During the quarterly conference call, the Company may discuss non-GAAP financial measures as defined by SEC Regulation G. In addition, the Company has used non-GAAP financial measures in this press release. A reconciliation of each non-GAAP financial measure and the comparable GAAP financial measure can be found in this release and in the Company’s Supplemental Package.

Forward-looking Statements

This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.

Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.

SL GREEN REALTY CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited and in thousands, except per share data)


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Revenues:	2024		2023		2024		2023

Rental revenue, net	$	139,616	$	131,524	$	403,382	$	471,767
Escalation and reimbursement revenues	17,317		19,467		45,687		60,211
SUMMIT Operator revenue	36,437		35,069		94,643		83,020
Investment income	5,344		9,689		18,938		27,849
Interest income from real estate loans held by consolidated securitization vehicles	4,771		—		4,771		—
Other income	26,206		14,437		72,972		59,139
Total revenues	229,691		210,186		640,393		701,986
Expenses:
Operating expenses, including related party expenses of $0 and $2 in 2024 and $2 and $3 in 2023	49,507		49,585		139,448		148,606
Real estate taxes	30,831		31,195		94,495		112,463
Operating lease rent	6,363		7,253		19,136		20,209
SUMMIT Operator expenses	37,901		32,801		82,947		76,324
Interest expense, net of interest income	42,091		27,440		109,067		109,714
Amortization of deferred financing costs	1,669		2,152		4,885		6,327
SUMMIT Operator tax expense	(1,779)		3,735		(1,219)		6,881
Interest expense on senior obligations of consolidated securitization vehicles	3,330		—		3,330		—
Depreciation and amortization	53,176		50,642		154,007		198,760
Loan loss and other investment reserves, net of recoveries	—		—		—		6,890
Transaction related costs	171		166		263		1,083
Marketing, general and administrative	21,015		22,873		62,360		69,132
Total expenses	244,275		227,842		668,719		756,389


Equity in net (loss) income from unconsolidated joint ventures	(15,428)		(15,126)		100,057		(44,470)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	371		—		19,006		(79)
Purchase price and other fair value adjustments	12,906		10,183		(36,321)		(6,987)
Gain (loss) on sale of real estate, net	7,471		516		4,730		(27,813)
Depreciable real estate reserves	—		389		(65,839)		(305,527)

Gain on early extinguishment of debt	—		—		17,777		—



Net (loss) income	(9,264)		(21,694)		11,084		(439,279)
Net loss attributable to noncontrolling interests:
Noncontrolling interests in the Operating Partnership	914		1,574		166		27,493
Noncontrolling interests in other partnerships	985		1,794		4,150		4,459
Preferred units distributions	(2,176)		(1,903)		(6,485)		(5,352)
Net (loss) income attributable to SL Green	(9,541)		(20,229)		8,915		(412,679)
Perpetual preferred stock dividends	(3,738)		(3,738)		(11,213)		(11,213)
Net loss attributable to SL Green common stockholders	$	(13,279)	$	(23,967)	$	(2,298)	$	(423,892)
Earnings Per Share (EPS)
Basic loss per share	$	(0.21)	$	(0.38)	$	(0.06)	$	(6.63)
Diluted loss per share	$	(0.21)	$	(0.38)	$	(0.06)	$	(6.63)

Funds From Operations (FFO)
Basic FFO per share	$	1.16	$	1.28	$	6.43	$	4.25
Diluted FFO per share	$	1.13	$	1.27	$	6.30	$	4.23


Basic ownership interest
Weighted average REIT common shares for net income per share	64,388		64,114		64,355		64,099
Weighted average partnership units held by noncontrolling interests	3,611		4,182		3,737		4,175
Basic weighted average shares and units outstanding	67,999		68,296		68,092		68,274

Diluted ownership interest
Weighted average REIT common share and common share equivalents	66,122		64,923		65,774		64,766
Weighted average partnership units held by noncontrolling interests	3,611		4,182		3,737		4,175
Diluted weighted average shares and units outstanding	69,733		69,105		69,511		68,941

SL GREEN REALTY CORP.

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share data)


	September 30,		December 31,
	2024		2023
Assets	(Unaudited)
Commercial real estate properties, at cost:
Land and land interests	$	1,134,432	$	1,092,671
Building and improvements	3,781,403		3,655,624
Building leasehold and improvements	1,374,059		1,354,569
	6,289,894		6,102,864
Less: accumulated depreciation	(2,084,755)		(1,968,004)
	4,205,139		4,134,860

Cash and cash equivalents	188,216		221,823
Restricted cash	126,909		113,696
Investment in marketable securities	16,522		9,591
Tenant and other receivables	53,628		33,270
Related party receivables	13,077		12,168
Deferred rents receivable	266,606		264,653
Debt and preferred equity investments, net of discounts and deferred origination fees of $1,618 and $1,630 in 2024 and 2023, respectively, and allowances of $13,520 and $13,520 in 2024 and 2023, respectively	293,924		346,745
Investments in unconsolidated joint ventures	2,871,683		2,983,313
Deferred costs, net	105,646		111,463

Right-of-use assets - operating leases	870,782		885,929
Real estate loans held by consolidated securitization vehicles	713,218		—
Other assets	490,722		413,670
Total assets	$	10,216,072	$	9,531,181

Liabilities
Mortgages and other loans payable	$	1,648,798	$	1,497,386
Revolving credit facility	735,000		560,000
Unsecured term loan	1,250,000		1,250,000
Unsecured notes	100,000		100,000
Deferred financing costs, net	(12,903)		(16,639)
Total debt, net of deferred financing costs	3,720,895		3,390,747
Accrued interest payable	22,825		17,930
Accounts payable and accrued expenses	125,377		153,164
Deferred revenue	154,700		134,053
Lease liability - financing leases	106,518		105,531
Lease liability - operating leases	815,238		827,692
Dividend and distributions payable	20,147		20,280
Security deposits	56,297		49,906

Junior subordinate deferrable interest debentures held by trusts that issued trust preferred securities	100,000		100,000
Senior obligations of consolidated securitization vehicles	603,902		—
Other liabilities	409,844		471,401
Total liabilities	6,135,743		5,270,704

Commitments and contingencies
Noncontrolling interests in Operating Partnership	293,593		238,051
Preferred units	166,731		166,501

Equity
SL Green stockholders' equity:
Series I Preferred Stock, $0.01 par value, $25.00 liquidation preference, 9,200 issued and outstanding at both September 30, 2024 and December 31, 2023	221,932		221,932
Common stock, $0.01 par value 160,000 shares authorized, 66,295 and 65,786 issued and outstanding (including 1,060 and 1,060 held in Treasury) at September 30, 2024 and December 31, 2023, respectively	663		660
Additional paid-in capital	3,866,088		3,826,452
Treasury stock at cost	(128,655)		(128,655)
Accumulated other comprehensive (loss) income	(27,308)		17,477
Retained deficit	(376,435)		(151,551)
Total SL Green Realty Corp. stockholders’ equity	3,556,285		3,786,315
Noncontrolling interests in other partnerships	63,720		69,610
Total equity	3,620,005		3,855,925
Total liabilities and equity	$	10,216,072	$	9,531,181

SL GREEN REALTY CORP.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(unaudited and in thousands, except per share data)


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Funds From Operations (FFO) Reconciliation:	2024		2023		2024		2023

Net loss attributable to SL Green common stockholders	$	(13,279)	$	(23,967)	$	(2,298)	$	(423,892)
Add:
Depreciation and amortization	53,176		50,642		154,007		198,760
Joint venture depreciation and noncontrolling interest adjustments	71,539		76,539		218,035		211,222
Net loss attributable to noncontrolling interests	(1,899)		(3,368)		(4,316)		(31,952)
Less:
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	371		—		19,006		(79)
Purchase price and other fair value adjustments	21,937		10,200		(33,765)		(6,813)
Gain (loss) on sale of real estate, net	7,471		516		4,730		(27,813)
Depreciable real estate reserves	—		389		(65,839)		(305,527)
Depreciation on non-rental real estate assets	1,204		1,002		3,357		2,722
FFO attributable to SL Green common stockholders and unit holders	$	78,554	$	87,739	$	437,939	$	291,648

SL GREEN REALTY CORP.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(unaudited and in thousands, except per share data)


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Operating income and Same-store NOI Reconciliation:	2024		2023		2024		2023

Net (loss) income	$	(9,264)	$	(21,694)	$	11,084	$	(439,279)

Depreciable real estate reserves	—		(389)		65,839		305,527
(Gain) loss on sale of real estate, net	(7,471)		(516)		(4,730)		27,813
Purchase price and other fair value adjustments	(12,906)		(10,183)		36,321		6,987
Equity in net (gain) loss on sale of interest in unconsolidated joint venture/real estate	(371)		—		(19,006)		79

Depreciation and amortization	53,176		50,642		154,007		198,760
SUMMIT Operator tax expense	(1,779)		3,735		(1,219)		6,881
Amortization of deferred financing costs	1,669		2,152		4,885		6,327
Interest expense, net of interest income	42,091		27,440		109,067		109,714
Interest expense on senior obligations of consolidated securitization vehicles	3,330		—		3,330		—
Operating income	68,475		51,187		359,578		222,809

Equity in net loss (income) from unconsolidated joint ventures	15,428		15,126		(100,057)		44,470
Marketing, general and administrative expense	21,015		22,873		62,360		69,132

Transaction related costs	171		166		263		1,083
Loan loss and other investment reserves, net of recoveries	—		—		—		6,890
SUMMIT Operator expenses	37,901		32,801		82,947		76,324
Gain on early extinguishment of debt	—		—		(17,777)		—
Investment income	(5,344)		(9,689)		(18,938)		(27,849)
Interest income from real estate loans held by consolidated securitization vehicles	(4,771)		—		(4,771)		—
SUMMIT Operator revenue	(36,437)		(35,069)		(94,643)		(83,020)
Non-building revenue	(17,414)		(4,616)		(48,177)		(32,533)
Net operating income (NOI)	79,024		72,779		220,785		277,306

Equity in net (loss) income from unconsolidated joint ventures	(15,428)		(15,126)		100,057		(44,470)
SLG share of unconsolidated JV depreciation and amortization	67,954		71,248		208,052		196,752
SLG share of unconsolidated JV amortization of deferred financing costs	2,413		2,926		7,875		9,129
SLG share of unconsolidated JV interest expense, net of interest income	67,670		73,470		209,753		199,205

SLG share of unconsolidated JV gain on early extinguishment of debt	—		—		(172,369)		—
SLG share of unconsolidated JV investment income	(4,745)		(321)		(6,465)		(951)
SLG share of unconsolidated JV non-building revenue	(776)		(10,099)		(2,899)		(14,443)
NOI including SLG share of unconsolidated JVs	196,112		194,877		564,789		622,528

NOI from other properties/affiliates	(27,865)		(25,606)		(81,356)		(118,563)
Same-Store NOI	168,247		169,271		483,433		503,965

Straight-line and free rent	674		(1,923)		(487)		(10,805)
Amortization of acquired above and below-market leases, net	834		140		1,748		472
Operating lease straight-line adjustment	204		204		611		611
SLG share of unconsolidated JV straight-line and free rent	(2,219)		(2,808)		(5,434)		(17,807)
SLG share of unconsolidated JV amortization of acquired above and below-market leases, net	(4,409)		(4,318)		(13,225)		(12,754)
SLG share of unconsolidated JV operating lease straight-line adjustment	—		—		—		—
Same-store cash NOI	$	163,331	$	160,566	$	466,646	$	463,682

Lease termination income	(1,369)		(2,200)		(3,601)		(2,952)
SLG share of unconsolidated JV lease termination income	(223)		(1,148)		(3,566)		(1,882)
Same-store cash NOI excluding lease termination income	$	161,739	$	157,218	$	459,479	$	458,848

SL GREEN REALTY CORP.

NON-GAAP FINANCIAL MEASURES - DISCLOSURES

Funds from Operations (FFO)

Funds Available for Distribution (FAD)

Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate (EBITDAre)

Net Operating Income (NOI) and Cash NOI

Coverage Ratios

SLG-EARN

EX-99.2 3 a24q3supplemental.htm EX-99.2 Document

SL Green Realty Corp. is a self-managed real estate investment trust, or REIT, with in-house capabilities in property management, acquisitions and dispositions, debt investing, financing, development, redevelopment, construction and leasing.

As of September 30, 2024, the Company held interests in 55 buildings totaling 31.8 million square feet. This included ownership interests in 28.1 million square feet in Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments.

•SL Green’s common stock is listed on the New York Stock Exchange and trades under the symbol SLG.

•SL Green's website is www.slgreen.com.

•This data is furnished to supplement audited and unaudited regulatory filings of the Company and should be read in conjunction with those filings. The financial data herein is unaudited and is provided to assist readers of quarterly and annual financial filings and should not be read in replacement of, or superior to, such financial filings. As such, data otherwise contained in future regulatory filings covering the same period may restate the data presented herein.

Questions pertaining to the information contained herein should be referred to Investor Relations at investor.relations@slgreen.com.

Forward-looking Statements

This supplemental reporting package includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this supplemental reporting package that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.

Forward-looking statements contained in this supplemental reporting package are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.

The following discussion related to the consolidated financial statements of the Company should be read in conjunction with the financial statements for the quarter ended September 30, 2024 that will be included on Form 10-Q to be filed on or before November 12, 2024.


Supplemental Information			2			Third Quarter 2024



TABLE OF CONTENTS





Definitions	4

Highlights	6	-	11

Comparative Balance Sheets	12

Comparative Statements of Operations	14

Comparative Computation of FFO and FAD	15

Consolidated Statement of Equity	16

Joint Venture Statements	17	-	18

Selected Financial Data	20	-	23

Debt Summary Schedule	24	-	26

Derivative Summary Schedule	27

Lease Liability Schedule	28

Debt and Preferred Equity Investments	29	-	31

Selected Property Data
Property Portfolio	32	-	36
Largest Tenants	37
Tenant Diversification	38
Leasing Activity	39	-	40
Lease Expirations	41	-	43

Summary of Real Estate Acquisition/Disposition Activity	44	-	48

Non-GAAP Disclosures and Reconciliations	49

Analyst Coverage	52

Executive Management	53


Supplemental Information			3			Third Quarter 2024



DEFINITIONS

Annualized cash rent - Monthly base rent and escalations per the lease, excluding concessions, deferrals, and abatements as of the last day of the quarter, multiplied by 12.

ASP - Alternative strategy portfolio.

Capitalized Interest - The total of i) interest cost for project specific debt on properties that are under development or redevelopment plus ii) an imputed interest cost for properties that are under development or redevelopment, which is calculated based on the Company’s equity investment in those properties multiplied by the Company’s consolidated weighted average borrowing rate. Capitalized Interest is a component of the carrying value of a development or redevelopment property.

Debt service coverage - Operating Income adding back income taxes, loan loss reserves and the Company's share of joint venture depreciation and amortization, divided by total interest and principal payments.

Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate (EBITDAre) - EBITDAre is a non-GAAP financial measure. The Company computes EBITDAre in accordance with standards established by NAREIT, which may not be comparable to EBITDAre reported by other REITs that do not compute EBITDAre in accordance with the NAREIT definition, or that interpret the NAREIT definition differently than the Company does. The White Paper on EBITDAre approved by the Board of Governors of NAREIT in September 2017 defines EBITDAre as net income (loss) (computed in accordance with Generally Accepted Accounting Principles, or GAAP), plus interest expense, plus income tax expense, plus depreciation and amortization, plus (minus) losses and gains on the disposition of depreciated property, plus impairment write-downs of depreciated property and investments in unconsolidated joint ventures, plus adjustments to reflect the entity's share of EBITDAre of unconsolidated joint ventures.

First generation TIs and LCs - Tenant improvements (TIs), leasing commissions (LCs), and other leasing costs which are generally incurred during the first 4-5 years following acquisition of a property.

Fixed charge - Total payments for interest, loan principal amortization, ground rent and preferred stock dividends.

Fixed charge coverage - Operating Income adding back income taxes, loan loss reserves and the Company's share of joint venture depreciation and amortization, divided by Fixed Charge.

Funds Available for Distribution (FAD) - FAD is a non-GAAP financial measure that is calculated as FFO plus non-real estate depreciation, allowance for straight line credit loss, adjustment for straight line operating lease rent, non-cash deferred compensation, and pro-rata adjustments for these items from the Company's unconsolidated JVs, less straight line rental income, free rent net of amortization, second cycle tenant improvement and leasing costs, and recurring capital expenditures.

Funds from Operations (FFO) - FFO is a widely recognized non-GAAP financial measure of REIT performance. The Company computes FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, or NAREIT, which may not be comparable to FFO reported by other REITs that do not compute FFO in accordance with the NAREIT definition, or that interpret the NAREIT definition differently than the Company does. The revised White Paper on FFO approved by the Board of Governors of NAREIT in April 2002, and subsequently amended in December 2018, defines FFO as net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from sales of properties, and real estate related impairment charges, plus real estate related depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures.

Junior Mortgage Participations - Subordinate interests in first mortgages.

Mezzanine Debt - Loans secured by ownership interests in real estate.

Net Operating Income (NOI) and Cash NOI - NOI is a non-GAAP financial measure that is calculated as operating income before transaction related costs, gains/losses on early extinguishment of debt, marketing general and administrative expenses and non-real estate revenue. Cash NOI is also a non-GAAP financial measure that is calculated by subtracting free rent (net of amortization), straight-line rent, and the amortization of acquired above and below-market leases from NOI, while adding operating lease straight-line adjustment and the allowance for straight-line tenant credit loss.

Preferred Equity Investments - Equity investments that are senior to common equity and are entitled to preferential returns.

Recurring capital expenditures - Building improvements and leasing costs required to maintain current revenues. Recurring capital expenditures do not include building improvements that are incurred to bring a property up to “operating standards.”

Redevelopment costs - Non-recurring capital expenditures incurred to improve properties to the Company’s operating standards.

Right of Use Assets / Lease Liabilities - Represents the right to control the use of leased property and the corresponding obligation, both measured at inception as the present value of the lease payments. The asset and related liability are classified as either operating or financing based on the length and cost of the lease and whether the lease contains a purchase option or a transfer of ownership. Operating leases are expensed through operating lease rent while financing leases are expensed through amortization and interest expense.


Supplemental Information			4			Third Quarter 2024



DEFINITIONS

Same-Store Properties (Same-Store) - Properties owned in the same manner during both the current and prior year, excluding development and redevelopment properties that are not stabilized for both the current and prior year. Changes to Same-Store properties in 2024 are as follows:


Added to Same-Store in 2024:			Removed from Same-Store in 2024:
885 Third Avenue			717 Fifth Avenue (disposed)
450 Park Avenue			719 Seventh Avenue (ASP)
			Worldwide Plaza (ASP)
			115 Spring Street (ASP)
			11 West 34th Street (ASP)
			650 Fifth Avenue (ASP)
			1552-1560 Broadway (ASP)

Second generation TIs and LCs - Tenant improvements, leasing commissions, and other leasing costs that do not meet the definition of first generation TIs and LCs.

SLG Interest - 'SLG Share' or 'Share of JV' is computed by multiplying the referenced line item by the Company's percentage ownership or economic interest in the respective joint ventures and may not accurately depict the legal and/or economic implications of holding a non-controlling interest in the respective joint ventures.

Total square feet owned - The total square footage of properties either owned directly by the Company or in which the Company has a joint venture interest.


Supplemental Information			5			Third Quarter 2024



THIRD QUARTER 2024 HIGHLIGHTS Unaudited

All per share amounts are presented on a diluted basis.

Operating and Leasing Activity

Significant leasing activity in the third quarter and to date in October includes:

•Early renewal and expansion with Bloomberg, L.P. for 924,876 square feet at 919 Third Avenue;

•Early renewal and expansion with Ares Management LLC for 307,336 square feet at 245 Park Avenue;


Supplemental Information			6			Third Quarter 2024



THIRD QUARTER 2024 HIGHLIGHTS Unaudited

•Early renewal and expansion with Industrial and Commercial Bank of China Limited, New York Branch for 132,938 square feet at 1185 Avenue of the Americas;

•Renewal with SP Plus Corporation for 64,926 square feet at 555 West 57th Street;

•Early renewal with Golenbock Eiseman Assor Bell & Peskeoe LLP for 38,050 square feet at 711 Third Avenue;

•Two early renewal and expansions of 51,960 and 34,640 square feet with Berkley Research Group, LLC and Mirae Asset Securities (USA), Inc., respectively, at 810 Seventh Avenue;

•New lease with TD Bank, N.A. for 26,225 square feet at 125 Park Avenue;

•New lease with Penton Learning Systems, LLC for 22,422 square feet at 420 Lexington Avenue; and

•Early renewal with Renaissance Technologies LLC for 20,010 square feet at 800 Third Avenue.

Investment Activity

Debt and Preferred Equity Investment Activity

During the third quarter of 2024, the Company invested $108.9 million in real estate debt and commercial mortgage-backed securities.

Financing Activity

Special Servicing and Asset Management Activity

Institutional Investor Conference

For more information about the event, please email SLG2024@slgreen.com.


Supplemental Information			7			Third Quarter 2024



THIRD QUARTER 2024 HIGHLIGHTS Unaudited

Dividends

In the third quarter of 2024, the Company declared:

Conference Call and Audio Webcast

Supplemental data will be available prior to the quarterly conference call in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under “Financial Reports.”

Research analysts who wish to participate in the conference call must first register at https://register.vevent.com/register/BI244a0311fb7043b5ac804fc1ac187dcb.


Supplemental Information			8			Third Quarter 2024



KEY FINANCIAL DATA Unaudited (Dollars in Thousands Except Per Share)


	As of or for the three months ended
	9/30/2024		6/30/2024		3/31/2024		12/31/2023		9/30/2023

Earnings Per Share
Net (loss) income available to common stockholders (EPS) - diluted	$	(0.21)	$	(0.04)	$	0.20	$	(2.45)	$	(0.38)
Funds from operations (FFO) available to common stockholders - diluted	$	1.13	$	2.05	$	3.07	$	0.72	$	1.27


Common Share Price & Dividends
Closing price at the end of the period	$	69.61	$	56.64	$	55.13	$	45.17	$	37.30
Closing high price during period	$	72.21	$	57.38	$	55.13	$	48.00	$	41.47
Closing low price during period	$	54.99	$	48.32	$	42.45	$	29.25	$	29.79
Annual dividend per common share	$	3.00	$	3.00	$	3.00	$	3.00	$	3.25

FFO dividend payout ratio (trailing 12 months)	43.6%		43.7%		48.8%		65.2%		57.1%
Funds available for distribution (FAD) dividend payout ratio (trailing 12 months)	53.1%		54.2%		63.8%		97.3%		89.4%

Common Shares & Units
Common shares outstanding	65,235		64,814		64,806		64,726		64,398
Units outstanding	4,474		4,299		4,417		3,949		4,139
Total common shares and units outstanding	69,709		69,113		69,223		68,675		68,537

Weighted average common shares and units outstanding - basic	67,999		68,740		68,767		68,014		68,296
Weighted average common shares and units outstanding - diluted	69,733		70,180		70,095		69,300		69,105


Market Capitalization
Market value of common equity	$	4,852,443	$	3,914,560	$	3,816,264	$	3,102,050	$	2,556,430
Liquidation value of preferred equity/units	396,730		396,730		396,500		396,500		396,500
Consolidated debt	3,833,798		3,639,892		3,801,378		3,507,386		3,368,872
Consolidated market capitalization	$	9,082,971	$	7,951,182	$	8,014,142	$	7,005,936	$	6,321,802
SLG share of unconsolidated JV debt	6,876,416		6,866,190		7,087,348		7,352,275		7,345,740
Market capitalization including SLG share of unconsolidated JVs	$	15,959,387	$	14,817,372	$	15,101,490	$	14,358,211	$	13,667,542

Consolidated debt service coverage (trailing 12 months)	3.36x		3.26x		2.82x		2.27x		2.31x
Consolidated fixed charge coverage (trailing 12 months)	2.72x		2.63x		2.32x		1.88x		1.94x
Debt service coverage, including SLG share of unconsolidated JVs (trailing 12 months)	1.73x		1.69x		1.59x		1.41x		1.49x
Fixed charge coverage, including SLG share of unconsolidated JVs (trailing 12 months)	1.58x		1.54x		1.44x		1.28x		1.35x


Supplemental Information			9			Third Quarter 2024



KEY FINANCIAL DATA Unaudited (Dollars in Thousands Except Per Share)


	As of or for the three months ended
	9/30/2024		6/30/2024		3/31/2024		12/31/2023		9/30/2023

Selected Balance Sheet Data
Real estate assets before depreciation	$	6,289,894	$	6,264,757	$	6,260,955	$	6,102,864	$	6,039,003
Investments in unconsolidated joint ventures	$	2,871,683	$	2,895,399	$	2,984,786	$	2,983,313	$	3,152,752
Debt and preferred equity investments	$	293,924	$	290,487	$	352,347	$	346,745	$	334,327
Cash and cash equivalents	$	188,216	$	199,501	$	196,035	$	221,823	$	189,750
Investment in marketable securities	$	16,522	$	16,593	$	10,673	$	9,591	$	9,616

Total assets	$	10,216,072	$	9,548,652	$	9,764,292	$	9,531,181	$	9,690,582

Consolidated fixed rate & hedged debt	$	3,287,898	$	3,039,399	$	3,040,885	$	3,237,386	$	3,248,724
Consolidated variable rate debt	485,000		540,000		650,000		160,000		10,148
Consolidated ASP debt	60,900		60,493		110,493		110,000		110,000
Total consolidated debt	$	3,833,798	$	3,639,892	$	3,801,378	$	3,507,386	$	3,368,872
Deferred financing costs, net of amortization	(12,903)		(14,304)		(15,875)		(16,639)		(18,340)
Total consolidated debt, net	$	3,820,895	$	3,625,588	$	3,785,503	$	3,490,747	$	3,350,532

Total liabilities	$	6,135,743	$	5,358,337	$	5,521,908	$	5,270,704	$	5,168,616

Fixed rate & hedged debt, including SLG share of unconsolidated JV debt	$	8,975,687	$	8,720,916	$	8,418,284	$	8,703,587	$	8,719,794
Variable rate debt, including SLG share of unconsolidated JV debt (1)	732,761		785,013		1,429,640		964,467		818,474
ASP debt, including SLG share of unconsolidated ASP JV debt	1,001,766		1,000,153		1,040,802		1,191,607		1,176,344
Total debt, including SLG share of unconsolidated JV debt	$	10,710,214	$	10,506,082	$	10,888,726	$	10,859,661	$	10,714,612

Selected Operating Data
Property operating revenues	$	156,933	$	150,632	$	141,504	$	151,357	$	150,991
Property operating expenses	(86,701)		(84,759)		(81,619)		(86,467)		(88,033)
Property NOI	$	70,232	$	65,873	$	59,885	$	64,890	$	62,958
SLG share of unconsolidated JV Property NOI	122,936		117,506		116,741		119,506		126,661
Property NOI, including SLG share of unconsolidated JV Property NOI	$	193,168	$	183,379	$	176,626	$	184,396	$	189,619
SUMMIT Operator revenue	36,437		32,602		25,604		35,240		35,069
Investment income, including SLG share of unconsolidated JV	10,089		7,911		7,403		7,176		10,010
Interest income from real estate loans held by consolidated securitization vehicles, net	1,441		—		—		—		—
Other income, including SLG share of unconsolidated JV	26,894		35,077		17,162		17,983		25,746

Gain (loss) on early extinguishment of debt, including SLG share of unconsolidated JV	—		48,482		141,664		(870)		—
SUMMIT Operator expenses	(37,901)		(23,188)		(21,858)		(24,887)		(32,801)

Transaction costs, including SLG share of unconsolidated JVs	(171)		(76)		(16)		(16)		(166)
Marketing general & administrative expenses	(21,015)		(20,032)		(21,313)		(42,257)		(22,873)
Income taxes	1,406		1,230		606		737		(544)
EBITDAre	$	210,348	$	265,385	$	325,878	$	177,502	$	204,060

(1) Does not reflect floating rate debt and preferred equity investments that provide a hedge against floating rate debt.


Supplemental Information			10			Third Quarter 2024



KEY FINANCIAL DATA Manhattan Properties (1) Unaudited (Dollars in Thousands Except Per Share)


	As of or for the three months ended
	9/30/2024		6/30/2024		3/31/2024		12/31/2023		9/30/2023

Selected Operating Data
Property operating revenues	$	151,886	$	145,369	$	136,869	$	145,542	$	145,547
Property operating expenses	73,841		73,436		70,223		73,799		78,271
Property NOI	$	78,045	$	71,933	$	66,646	$	71,743	$	67,276

Other income - consolidated	$	2,967	$	2,270	$	2,136	$	2,190	$	3,285

SLG share of property NOI from unconsolidated JVs	$	123,401	$	117,384	$	116,617	$	120,572	$	126,531

Office Portfolio Statistics (Manhattan Operating Properties)
Consolidated office buildings in service	14		14		14		13		13
Unconsolidated office buildings in service	10		10		10		12		12
	24		24		24		25		25

Consolidated office buildings in service - square footage	8,753,441		8,753,441		8,753,441		8,399,141		8,399,141
Unconsolidated office buildings in service - square footage	13,009,149		13,009,149		13,009,149		15,412,174		15,412,174
	21,762,590		21,762,590		21,762,590		23,811,315		23,811,315

Same-Store office occupancy inclusive of leases signed not yet commenced	90.1%		89.6%		89.2%		89.8%		89.9%

Office Leasing Statistics (Manhattan Operating Properties)
New leases commenced	29		30		31		20		21
Renewal leases commenced	17		12		19		6		22
Total office leases commenced	46		42		50		26		43

Commenced office square footage filling vacancy	179,200		195,953		109,576		37,718		80,485
Commenced office square footage on previously occupied space (M-T-M leasing) (2)	540,288		211,251		280,879		235,703		218,964
Total office square footage commenced	719,488		407,204		390,455		273,421		299,449

Average starting cash rent psf - office leases commenced	$	106.76	$	96.79	$	75.11	$	107.62	$	82.96
Previous escalated cash rent psf - office leases commenced (3)	$	95.44	$	100.86	$	76.02	$	102.55	$	86.10
Increase (decrease) in new cash rent over previously escalated cash rent (2) (3)	11.9%		(4.0)%		(1.2)%		4.9%		(3.6)%
Average lease term	10.5		11.9		7.0		11.5		4.9
Tenant concession packages psf	$	103.37	$	105.17	$	52.48	$	102.43	$	33.25
Free rent months	11.5		10.0		7.3		10.3		5.0

(1) Property data for operating buildings only.
(2) Calculated on space that was occupied within the previous 12 months.
(3) Previously escalated cash rent includes base rent plus all additional amounts paid by the previous tenant in the form of real estate taxes, operating expenses, porters wage or a consumer price index (CPI) adjustment.


Supplemental Information			11			Third Quarter 2024



COMPARATIVE BALANCE SHEETS Unaudited (Dollars in Thousands)


	As of
	9/30/2024		6/30/2024		3/31/2024		12/31/2023		9/30/2023
Assets
Commercial real estate properties, at cost:
Land and land interests	$	1,134,432	$	1,134,432	$	1,150,681	$	1,092,671	$	1,090,370
Building and improvements	3,781,403		3,743,316		3,729,884		3,655,624		3,605,247
Building leasehold and improvements	1,374,059		1,365,423		1,358,851		1,354,569		1,343,386
	6,289,894		6,243,171		6,239,416		6,102,864		6,039,003
Less: accumulated depreciation	(2,084,755)		(2,041,102)		(2,005,893)		(1,968,004)		(1,935,594)
Net real estate	4,205,139		4,202,069		4,233,523		4,134,860		4,103,409

Other real estate investments:
Debt and preferred equity investments, net (1)	293,924		290,487		352,347		346,745		334,327
Investment in unconsolidated joint ventures	2,871,683		2,895,399		2,984,786		2,983,313		3,152,752


Assets held for sale, net	—		21,615		21,586		—		—
Cash and cash equivalents	188,216		199,501		196,035		221,823		189,750
Restricted cash	126,909		116,310		122,461		113,696		119,573
Investment in marketable securities	16,522		16,593		10,673		9,591		9,616
Tenant and other receivables	53,628		41,202		38,659		33,270		37,295
Related party receivables	13,077		8,127		12,229		12,168		9,723

Deferred rents receivable	266,606		266,596		267,969		264,653		262,808

Deferred costs, net	105,646		107,163		109,296		111,463		108,370

Right-of-use assets - operating leases	870,782		875,878		880,926		885,929		890,888
Real estate loans held by consolidated securitization vehicles	713,218		—		—		—		—
Other assets	490,722		507,712		533,802		413,670		472,071

Total Assets	$	10,216,072	$	9,548,652	$	9,764,292	$	9,531,181	$	9,690,582

(1) This balance excludes a $205.2 million preferred equity investment included in the Investment in unconsolidated joint ventures line item.


Supplemental Information			12			Third Quarter 2024



COMPARATIVE BALANCE SHEETS Unaudited (Dollars in Thousands)


	As of
	9/30/2024		6/30/2024		3/31/2024		12/31/2023		9/30/2023
Liabilities
Mortgages and other loans payable	$	1,648,798	$	1,649,892	$	1,701,378	$	1,497,386	$	1,518,872
Unsecured term loans	1,250,000		1,250,000		1,250,000		1,250,000		1,250,000
Unsecured notes	100,000		100,000		100,000		100,000		100,000
Revolving credit facility	735,000		540,000		650,000		560,000		400,000
Deferred financing costs	(12,903)		(14,304)		(15,875)		(16,639)		(18,340)
Total debt, net of deferred financing costs	3,720,895		3,525,588		3,685,503		3,390,747		3,250,532
Accrued interest payable	22,825		20,083		23,217		17,930		17,934
Accounts payable and accrued expenses	125,377		121,050		101,495		153,164		146,332
Deferred revenue	154,700		153,660		157,756		134,053		136,063
Lease liability - financing leases	106,518		106,187		105,859		105,531		105,198
Lease liability - operating leases	815,238		819,439		823,594		827,692		887,412
Dividends and distributions payable	20,147		20,088		20,135		20,280		21,725
Security deposits	56,297		58,002		56,398		49,906		50,071
Liabilities related to assets held for sale	—		10,424		10,649		—		—
Junior subordinated deferrable interest debentures	100,000		100,000		100,000		100,000		100,000
Senior obligations of consolidated securitization vehicles	603,902		—		—		—		—
Other liabilities	409,844		423,816		437,302		471,401		453,349
Total Liabilities	6,135,743		5,358,337		5,521,908		5,270,704		5,168,616

Noncontrolling interests in Operating Partnership
(4,474 units outstanding at 9/30/2024)	293,593		265,823		272,235		238,051		248,222
Preferred units	166,731		166,731		166,501		166,501		166,501

Equity
SL Green stockholders' equity:
Series I Preferred Stock	221,932		221,932		221,932		221,932		221,932
Common stock, $0.01 par value, 160,000 shares authorized, 66,295
issued and outstanding at 9/30/2024, including 1,060 shares held in treasury	663		660		660		660		656
Additional paid–in capital	3,866,088		3,836,751		3,831,130		3,826,452		3,813,758
Treasury stock at cost	(128,655)		(128,655)		(128,655)		(128,655)		(128,655)
Accumulated other comprehensive (loss) earnings	(27,308)		40,371		40,151		17,477		69,616
Retained (deficit) earnings	(376,435)		(279,763)		(229,607)		(151,551)		62,406
Total SL Green Realty Corp. stockholders' equity	3,556,285		3,691,296		3,735,611		3,786,315		4,039,713

Noncontrolling interests in other partnerships	63,720		66,465		68,037		69,610		67,530

Total Equity	3,620,005		3,757,761		3,803,648		3,855,925		4,107,243

Total Liabilities and Equity	$	10,216,072	$	9,548,652	$	9,764,292	$	9,531,181	$	9,690,582


Supplemental Information			13			Third Quarter 2024



COMPARATIVE STATEMENT OF OPERATIONS Unaudited (Dollars in Thousands Except Per Share)



	Three Months Ended						Nine Months Ended
	September 30,		September 30,		June 30,			September 30,		September 30,
	2024		2023		2024			2024		2023
Revenues
Rental revenue, net	$	139,616	$	131,524	$	135,563		$	403,382	$	471,767
Escalation and reimbursement revenues	17,317		19,467		15,069			45,687		60,211
SUMMIT Operator revenue	36,437		35,069		32,602			94,643		83,020
Investment income	5,344		9,689		6,191			18,938		27,849
Interest income from real estate loans held by consolidated securitization vehicles	4,771		—		—			4,771		—
Other income	26,206		14,437		33,395			72,972		59,139
Total Revenues	229,691		210,186		222,820			640,393		701,986

Gain on early extinguishment of debt	—		—		17,777			17,777		—

Expenses
Operating expenses	49,507		49,585		46,333			139,448		148,606
Real estate taxes	30,831		31,195		32,058			94,495		112,463
Operating lease rent	6,363		7,253		6,368			19,136		20,209
SUMMIT Operator expenses	37,901		32,801		23,188			82,947		76,324
Loan loss and other investment reserves, net of recoveries	—		—		—			—		6,890
Transaction related costs	171		166		76			263		1,083
Marketing, general and administrative	21,015		22,873		20,032			62,360		69,132
Total Operating Expenses	145,788		143,873		128,055			398,649		434,707

Equity in net income (loss) from unconsolidated joint ventures	(15,428)		(15,126)		4,325			100,057		(44,470)

Operating Income	68,475		51,187		116,867			359,578		222,809

Interest expense, net of interest income	42,091		27,440		35,803			109,067		109,714
Amortization of deferred financing costs	1,669		2,152		1,677			4,885		6,327
SUMMIT Operator tax expense	(1,779)		3,735		1,855			(1,219)		6,881
Interest expense on senior obligations of consolidated securitization vehicles	3,330		—		—			3,330		—
Depreciation and amortization	53,176		50,642		52,247			154,007		198,760
(Loss) Income from Continuing Operations (1)	(30,012)		(32,782)		25,285			89,508		(98,873)




Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	371		—		(8,129)			19,006		(79)
Purchase price and other fair value adjustments	12,906		10,183		1,265			(36,321)		(6,987)
Gain (loss) on sale of real estate, net	7,471		516		(2,741)			4,730		(27,813)
Depreciable real estate reserves	—		389		(13,721)			(65,839)		(305,527)
Net (Loss) Income	(9,264)		(21,694)		1,959			11,084		(439,279)

Net loss attributable to noncontrolling interests	1,899		3,368		2,024			4,316		31,952
Preferred units distributions	(2,176)		(1,903)		(2,406)			(6,485)		(5,352)
Net (Loss) Income attributable to SL Green	(9,541)		(20,229)		1,577			8,915		(412,679)

Perpetual preferred stock dividends	(3,738)		(3,738)		(3,737)			(11,213)		(11,213)
Net Loss attributable to SL Green common stockholders	$	(13,279)	$	(23,967)	$	(2,160)		$	(2,298)	$	(423,892)

Basic loss per share	$	(0.21)	$	(0.38)	$	(0.04)		$	(0.06)	$	(6.63)
Diluted loss per share	$	(0.21)	$	(0.38)	$	(0.04)		$	(0.06)	$	(6.63)

(1) Before equity in net gain (loss), purchase price and other fair value adjustments, gain (loss) on sale and depreciable real estate reserves shown below.


Supplemental Information			14			Third Quarter 2024



COMPARATIVE COMPUTATION OF FFO AND FAD Unaudited (Dollars in Thousands Except Per Share)



		Three Months Ended						Nine Months Ended
		September 30,		September 30,		June 30,			September 30,		September 30,
		2024		2023		2024			2024		2023
Funds from Operations
Net Loss attributable to SL Green common stockholders		$	(13,279)	$	(23,967)	$	(2,160)		$	(2,298)	$	(423,892)

	Depreciation and amortization	53,176		50,642		52,247			154,007		198,760
	Joint ventures depreciation and noncontrolling interests adjustments	71,539		76,539		72,238			218,035		211,222
	Net loss attributable to noncontrolling interests	(1,899)		(3,368)		(2,024)			(4,316)		(31,952)
	Equity in net (gain) loss on sale of interest in unconsolidated joint venture/real estate	(371)		—		8,129			(19,006)		79
	Purchase price and other fair value adjustments	(21,937)		(10,200)		50			33,765		6,813
	(Gain) loss on sale of real estate, net	(7,471)		(516)		2,741			(4,730)		27,813
	Depreciable real estate reserves	—		(389)		13,721			65,839		305,527
	Depreciation on non-rental real estate assets	(1,204)		(1,002)		(1,000)			(3,357)		(2,722)
	Funds From Operations	$	78,554	$	87,739	$	143,942		$	437,939	$	291,648

	Funds From Operations - Basic per Share	$	1.16	$	1.28	$	2.08		$	6.43	$	4.25

	Funds From Operations - Diluted per Share	$	1.13	$	1.27	$	2.05		$	6.30	$	4.23



Funds Available for Distribution
FFO		$	78,554	$	87,739	$	143,942		$	437,939	$	291,648

	Non real estate depreciation and amortization	1,204		1,002		1,000			3,357		2,722
	Amortization of deferred financing costs	1,669		2,152		1,677			4,885		6,327
	Non-cash deferred compensation	9,392		12,771		9,454			29,626		38,954
	FAD adjustment for joint ventures	(13,960)		(17,820)		(15,166)			(40,507)		(60,471)
	Straight-line rental income and other non-cash adjustments	1,094		(2,454)		2,503			530		(29,151)
	Non-cash fair value adjustments on mark-to-market derivatives	9,030		17		(1,315)			2,555		174
	Second cycle tenant improvements	(17,401)		(16,045)		(19,305)			(50,185)		(36,945)
	Second cycle leasing commissions	(4,292)		(1,821)		(3,791)			(11,570)		(6,630)
	Revenue enhancing recurring CAPEX	(19)		(379)		(33)			(71)		(617)
	Non-revenue enhancing recurring CAPEX	(5,138)		(5,880)		(4,737)			(12,250)		(13,204)
Reported Funds Available for Distribution		$	60,133	$	59,282	$	114,229		$	364,309	$	192,807

	First cycle tenant improvements	$	439	$	879	$	1,128		$	2,028	$	1,444
	First cycle leasing commissions	$	11	$	271	$	40		$	51	$	379
	Development costs	$	10,742	$	18,019	$	13,422		$	39,861	$	37,168
	Redevelopment costs	$	1,165	$	1,804	$	2,870		$	5,689	$	9,948
	Capitalized interest	$	9,493	$	25,483	$	13,784		$	41,226	$	77,916


Supplemental Information			15			Third Quarter 2024



CONSOLIDATED STATEMENT OF EQUITY Unaudited (Dollars in Thousands)


													Accumulated
	Series I												Other
	Preferred		Common		Additional		Treasury		Retained		Noncontrolling		Comprehensive
	Stock		Stock		Paid-In Capital		Stock		Deficit		Interests		Loss		Total

Balance at December 31, 2023	$	221,932	$	660	$	3,826,452	$	(128,655)	$	(151,551)	$	69,610	$	17,477	$	3,855,925

Net income									8,915		(4,150)				4,765
Acquisition of subsidiary interest from noncontrolling interest											(5,674)				(5,674)
Other comprehensive loss - net unrealized loss on derivative instruments													(24,057)		(24,057)
Other comprehensive loss - SLG share of unconsolidated joint venture net unrealized loss on derivative instruments													(21,831)		(21,831)
Other comprehensive income - net unrealized loss on marketable securities													1,103		1,103
Perpetual preferred stock dividends									(11,213)						(11,213)
DRSPP proceeds			3		23,750										23,753

Reallocation of noncontrolling interest in the Operating Partnership									(77,400)						(77,400)
Deferred compensation plan and stock awards, net of forfeitures and tax withholdings					15,886										15,886


Contributions to consolidated joint venture interests											1,823				1,823


Consolidation of partially owned entity											6,678				6,678
Cash distributions to noncontrolling interests											(4,567)				(4,567)

Cash distributions declared ($2.25 per common share, none of which represented a return of capital for federal income tax purposes)									(145,186)						(145,186)

Balance at September 30, 2024	$	221,932	$	663	$	3,866,088	$	(128,655)	$	(376,435)	$	63,720	$	(27,308)	$	3,620,005




RECONCILIATION OF SHARES AND UNITS OUTSTANDING, AND DILUTION COMPUTATION


	Common Stock		OP Units		Stock-Based Compensation		Diluted Shares

Share Count at December 31, 2023	64,726,253		3,949,448		—		68,675,701

YTD share activity	508,760		524,958		—		1,033,718
Share Count at September 30, 2024	65,235,013		4,474,406		—		69,709,419

Weighting factor	(880,046)		(737,049)		1,418,306		(198,789)
Weighted Average Share Count at September 30, 2024 - Diluted	64,354,967		3,737,357		1,418,306		69,510,630


Supplemental Information			16			Third Quarter 2024



JOINT VENTURE STATEMENTS Balance Sheet for Unconsolidated Joint Ventures Unaudited (Dollars in Thousands)


	As of
	September 30, 2024				June 30, 2024				March 31, 2024

	Total		SLG Share		Total		SLG Share		Total		SLG Share
Assets
Commercial real estate properties, at cost:
Land and land interests	$	4,222,970	$	2,110,135	$	4,222,970	$	2,110,135	$	4,852,319	$	2,679,256
Building and improvements	14,209,648		7,119,004		14,103,745		7,082,454		13,994,777		7,049,600
Building leasehold and improvements	1,023,401		415,555		1,008,186		408,457		995,651		402,349


	19,456,019		9,644,694		19,334,901		9,601,046		19,842,747		10,131,205
Less: accumulated depreciation	(2,921,620)		(1,483,770)		(2,820,658)		(1,430,518)		(2,718,615)		(1,376,515)
Net real estate	16,534,399		8,160,924		16,514,243		8,170,528		17,124,132		8,754,690

Other real estate investments:
Debt and preferred equity investments, net	231,080		210,121		225,743		205,268		—		—

Cash and cash equivalents	312,785		156,150		311,324		155,441		258,238		124,307
Restricted cash	383,225		208,895		361,579		201,126		350,224		199,439
Tenant and other receivables	36,225		22,928		22,346		15,333		46,850		29,773
Deferred rents receivable	607,085		349,136		597,063		344,123		587,963		339,523

Deferred costs, net	367,001		196,994		330,642		179,972		335,443		182,608
Right-of-use assets - financing leases	730,386		515,245		732,548		516,603		683,194		500,415
Right-of-use assets - operating leases	195,075		94,555		198,611		96,176		217,316		102,958

Other assets	2,085,063		875,529		2,145,709		897,768		2,203,435		927,298

Total Assets	$	21,482,324	$	10,790,477	$	21,439,808	$	10,782,338	$	21,806,795	$	11,161,011

Liabilities and Equity
Mortgage and other loans payable, net of deferred financing costs of $85,064 at 9/30/2024, of which $47,397 is SLG share	$	13,653,311	$	6,829,019	$	13,593,682	$	6,816,499	$	13,824,249	$	7,036,750
Accrued interest payable	99,785		40,179		64,401		28,380		54,743		25,388
Accounts payable and accrued expenses	223,087		114,935		241,413		121,004		256,658		119,696
Deferred revenue	1,011,333		459,505		1,022,793		462,077		1,070,740		487,183
Lease liability - financing leases	790,341		548,358		790,442		549,067		745,257		534,330
Lease liability - operating leases	220,920		108,935		223,978		110,396		242,042		116,937

Security deposits	46,854		21,672		46,383		21,702		40,764		20,292

Other liabilities	129,683		76,074		78,344		51,570		78,368		48,736
Equity	5,307,010		2,591,800		5,378,372		2,621,643		5,493,974		2,771,699

Total Liabilities and Equity	$	21,482,324	$	10,790,477	$	21,439,808	$	10,782,338	$	21,806,795	$	11,161,011


Supplemental Information			17			Third Quarter 2024



JOINT VENTURE STATEMENTS Statement of Operations for Unconsolidated Joint Ventures Unaudited (Dollars in Thousands)


	Three Months Ended
	September 30, 2024				September 30, 2023				June 30, 2024

	Total		SLG Share		Total		SLG Share		Total		SLG Share
Revenues
Rental revenue, net	$	308,567	$	162,987	$	326,130	$	166,190	$	302,425	$	155,563
Escalation and reimbursement revenues	61,545		35,753		65,441		35,483		57,800		32,404
Investment income	4,904		4,745		1,263		321		1,904		1,720

Other income	1,933		688		14,314		11,309		2,878		1,682
Total Revenues	376,949		204,173		407,148		213,303		365,007		191,369

Gain on early extinguishment of debt	—		—		—		—		61,185		30,705

Expenses
Operating expenses	67,104		35,732		63,081		32,620		59,733		30,820
Real estate taxes	73,686		38,119		78,564		39,013		73,479		37,707
Operating lease rent	8,487		1,953		7,307		3,379		8,478		1,934

Total Operating Expenses	149,277		75,804		148,952		75,012		141,690		70,461

Operating Income	227,672		128,369		258,196		138,291		284,502		151,613

Interest expense, net of interest income	141,067		67,670		162,897		73,470		142,196		69,280
Amortization of deferred financing costs	4,487		2,413		6,897		2,926		4,159		2,367

Depreciation and amortization	137,640		67,954		138,199		71,248		135,611		70,652
Net (Loss) Income	(55,522)		(9,668)		(49,797)		(9,353)		2,536		9,314

Real estate depreciation	137,639		67,953		138,193		71,244		135,608		70,650
FFO Contribution	$	82,117	$	58,285	$	88,396	$	61,891	$	138,144	$	79,964

FAD Adjustments:
Non real estate depreciation and amortization	$	1	$	1	$	6	$	4	$	3	$	2
Amortization of deferred financing costs	4,487		2,413		6,897		2,926		4,159		2,367
Straight-line rental income and other non-cash adjustments	(20,159)		(11,043)		(19,345)		(11,086)		(18,770)		(10,423)
Second cycle tenant improvements	(4,891)		(2,695)		(16,559)		(8,477)		(6,764)		(3,625)
Second cycle leasing commissions	(5,487)		(2,763)		(891)		(503)		(4,926)		(2,583)
Revenue enhancing recurring CAPEX	(18)		(9)		(193)		(98)		(55)		(28)
Non-revenue enhancing recurring CAPEX	(174)		136		(1,185)		(586)		(1,617)		(876)
Total FAD Adjustments	$	(26,241)	$	(13,960)	$	(31,270)	$	(17,820)	$	(27,970)	$	(15,166)

First cycle tenant improvements	$	2,669	$	1,104	$	11,071	$	5,128	$	4,423	$	1,260
First cycle leasing commissions	$	37,231	$	18,388	$	8,133	$	3,557	$	49	$	24
Development costs	$	28,703	$	8,767	$	63,291	$	19,385	$	36,437	$	12,743
Redevelopment costs	$	14,297	$	6,180	$	21,249	$	7,403	$	12,815	$	4,270
Capitalized interest	$	44,290	$	15,003	$	42,104	$	14,854	$	40,628	$	15,009


Supplemental Information			18			Third Quarter 2024



JOINT VENTURE STATEMENTS Statement of Operations for Unconsolidated Joint Ventures Unaudited (Dollars in Thousands)


	Nine Months Ended
	September 30, 2024				September 30, 2023

	Total		SLG Share		Total		SLG Share
Revenues
Rental revenue, net	$	911,667	$	477,829	$	936,576	$	480,832
Escalation and reimbursement revenues	178,217		101,233		170,930		93,156
Investment income	6,828		6,465		3,748		951

Other income	10,583		6,161		29,635		19,253
Total Revenues	1,107,295		591,688		1,140,889		594,192

Gain on early extinguishment of debt	233,704		172,369		—		—

Expenses
Operating expenses	192,587		101,253		183,825		95,495
Real estate taxes	222,797		114,611		210,428		105,446
Operating lease rent	25,990		6,015		21,746		10,081

Total Operating Expenses	441,374		221,879		415,999		211,022

Operating Income	899,625		542,178		724,890		383,170

Interest expense, net of interest income	433,117		209,753		421,528		199,205
Amortization of deferred financing costs	14,718		7,875		21,140		9,129

Depreciation and amortization	407,429		208,052		380,867		196,752
Net Income (Loss)	44,361		116,498		(98,645)		(21,916)

Real estate depreciation	407,419		208,045		380,848		196,739
FFO Contribution	$	451,780	$	324,543	$	282,203	$	174,823

FAD Adjustments:
Non real estate depreciation and amortization	$	10	$	7	$	19	$	13
Amortization of deferred financing costs	14,718		7,875		21,140		9,129
Straight-line rental income and other non-cash adjustments	(48,448)		(32,307)		(59,590)		(36,228)
Second cycle tenant improvements	(16,564)		(8,960)		(50,223)		(25,831)
Second cycle leasing commissions	(11,824)		(6,176)		(6,033)		(3,155)
Revenue enhancing recurring CAPEX	(114)		(59)		(882)		(455)
Non-revenue enhancing recurring CAPEX	(2,148)		(887)		(7,911)		(3,944)
Total FAD Adjustments	$	(64,370)	$	(40,507)	$	(103,480)	$	(60,471)

First cycle tenant improvements	$	10,173	$	3,391	$	11,854	$	5,348
First cycle leasing commissions	$	39,015	$	18,901	$	8,440	$	3,635
Development costs	$	116,877	$	35,684	$	213,534	$	60,399
Redevelopment costs	$	38,601	$	14,298	$	64,125	$	22,334
Capitalized interest	$	119,807	$	43,268	$	105,321	$	34,974


Supplemental Information			19			Third Quarter 2024



SELECTED FINANCIAL DATA Net Operating Income(1) Unaudited (Dollars in Thousands)



	Three Months Ended						Nine Months Ended
	September 30,		September 30,		June 30,			September 30,		September 30,
	2024		2023		2024			2024		2023

Net Operating Income (1)	$	88,718	$	71,943	$	77,412		$	234,468	$	277,919
SLG share of NOI from unconsolidated JVs	122,317		127,784		118,076			353,382		365,034
NOI, including SLG share of unconsolidated JVs	211,035		199,727		195,488			587,850		642,953
Partners' share of NOI - consolidated JVs	(1,970)		142		(2,285)			(4,167)		294
NOI - SLG share	$	209,065	$	199,869	$	193,203		$	583,683	$	643,247

NOI, including SLG share of unconsolidated JVs	$	211,035	$	199,727	$	195,488		$	587,850	$	642,953
Free rent (net of amortization)	932		(3,314)		655			(2,966)		(23,032)
Straight-line revenue adjustment	(7,008)		(4,451)		(4,936)			(17,141)		(16,183)
Amortization of acquired above and below-market leases, net	(4,680)		(6,656)		(5,497)			(16,487)		(29,889)
Operating lease straight-line adjustment	823		756		905			2,713		2,135
Straight-line tenant credit loss	157		(361)		634			6,632		(945)
Cash NOI, including SLG share of unconsolidated JVs	201,259		185,701		187,249			560,601		575,039
Partners' share of cash NOI - consolidated JVs	(2,190)		97		(2,498)			(4,663)		191
Cash NOI - SLG share	$	199,069	$	185,798	$	184,751		$	555,938	$	575,230

(1) Includes SL Green Management Corp. and Emerge 212. Excludes lease termination income.



NOI Summary by Portfolio (1) - SLG Share

	Three Months Ended				Nine Months Ended
	September 30, 2024				September 30, 2024
	NOI		Cash NOI		NOI		Cash NOI

Manhattan Office	$	174,962	$	167,937	$	502,072	$	477,384
Development / Redevelopment	8,156		7,250		17,494		15,825
High Street Retail	456		422		940		788
Suburban & Residential	4,643		4,771		12,371		12,833
Total Operating and Development	188,217		180,380		532,877		506,830
Alternative Strategy Portfolio	11,579		9,092		39,540		36,820
Property Dispositions (2)	462		462		(298)		(298)
Other (3)	8,807		9,135		11,564		12,586
Total	$	209,065	$	199,069	$	583,683	$	555,938

(1) Portfolio composition consistent with the Selected Property Data tables.
(2) Includes properties sold or otherwise disposed of during the respective period.
(3) Includes SL Green Management Corp., Emerge 212, Belmont Insurance Company and Ticonderoga Insurance Company.


Supplemental Information			20			Third Quarter 2024



SELECTED FINANCIAL DATA Same Store Net Operating Income - Wholly Owned and Consolidated JVs Unaudited (Dollars in Thousands)


		Three Months Ended								Three Months Ended				Nine Months Ended

		September 30,			September 30,						June 30,			September 30,			September 30,
		2024			2023			%			2024			2024			2023			%
Revenues
	Rental revenue, net	$	127,645		$	128,993		(1.0)	%		$	124,933		$	381,694		$	394,352		(3.2)	%
	Escalation & reimbursement revenues	17,056			19,042			(10.4)	%		14,730			45,577			53,080			(14.1)	%
	Other income	2,069			2,365			(12.5)	%		1,369			4,685			3,332			40.6	%
	Total Revenues	$	146,770		$	150,400		(2.4)	%		$	141,032		$	431,956		$	450,764		(4.2)	%


Expenses
	Operating expenses	$	39,332		$	39,663		(0.8)	%		$	35,923		$	112,387		$	112,459		(0.1)	%
	Real estate taxes	31,230			31,309			(0.3)	%		30,832			93,483			93,494			0.0	%
	Operating lease rent	6,106			6,106			0.0	%		6,106			18,317			18,317			—	%
	Total Operating Expenses	$	76,668		$	77,078		(0.5)	%		$	72,861		$	224,187		$	224,270		0.0	%

	Operating Income	$	70,102		$	73,322		(4.4)	%		$	68,171		$	207,769		$	226,494		(8.3)	%

	Interest expense & amortization of financing costs	$	19,396		$	19,195		1.0	%		$	19,308		$	58,271		$	56,102		3.9	%
	Depreciation & amortization	45,966			44,273			3.8	%		44,960			135,269			132,978			1.7	%

	Income before noncontrolling interest	$	4,740		$	9,854		(51.9)	%		$	3,903		$	14,229		$	37,414		(62.0)	%
	Real estate depreciation & amortization	45,966			44,273			3.8	%		44,960			135,269			132,978			1.7	%
	FFO Contribution	$	50,706		$	54,127		(6.3)	%		$	48,863		$	149,498		$	170,392		(12.3)	%

	Non–building revenue	(662)			(150)			341.3	%		(283)			(1,012)			(343)			195.0	%

	Interest expense & amortization of financing costs	19,396			19,195			1.0	%		19,308			58,271			56,102			3.9	%
	Non-real estate depreciation	—			—			—	%		—			—			—			—	%
	NOI	$	69,440		$	73,172		(5.1)	%		$	67,888		$	206,757		$	226,151		(8.6)	%

Cash Adjustments
	Free rent (net of amortization)	$	(1,344)		$	(1,877)		(28.4)	%		$	(1,606)		$	(7,760)		$	(10,248)		(24.3)	%
	Straight-line revenue adjustment	1,896			299			534.1	%		2,491			5,614			109			5,050.5	%
	Amortization of acquired above and below-market leases, net	834			140			495.7	%		865			1,748			472			270.3	%
	Operating lease straight-line adjustment	204			204			—	%		204			611			611			—	%
	Straight-line tenant credit loss	122			(345)			(135.4)	%		858			1,659			(666)			(349.1)	%
	Cash NOI	$	71,152		$	71,593		(0.6)	%		$	70,700		$	208,629		$	216,429		(3.6)	%

	Lease termination income	(1,369)			(2,200)			(37.8)	%		(1,069)			(3,601)			(2,952)			22.0	%
	Cash NOI excluding lease termination income	$	69,783		$	69,393		0.6	%		$	69,631		$	205,028		$	213,477		(4.0)	%

Operating Margins
	NOI to real estate revenue, net	47.5		%	48.7		%				48.2		%	48.0		%	50.2		%
	Cash NOI to real estate revenue, net	48.7		%	47.6		%				50.2		%	48.4		%	48.1		%

	NOI before operating lease rent/real estate revenue, net	51.7		%	52.8		%				52.6		%	52.2		%	54.3		%
	Cash NOI before operating lease rent/real estate revenue, net	52.7		%	51.6		%				54.4		%	52.5		%	52.0		%


Supplemental Information			21			Third Quarter 2024



SELECTED FINANCIAL DATA Same Store Net Operating Income - Unconsolidated JVs Unaudited (Dollars in Thousands, SLG Share)


		Three Months Ended								Three Months Ended				Nine Months Ended

		September 30,			September 30,						June 30,			September 30,			September 30,
		2024			2023			%			2024			2024			2023			%
Revenues
	Rental revenue, net	$	126,755		$	124,497		1.8	%		$	116,594		$	359,144		$	365,327		(1.7)	%
	Escalation & reimbursement revenues	33,095			31,221			6.0	%		28,486			90,568			83,460			8.5	%
	Other income	418			1,668			(74.9)	%		413			4,267			3,793			12.5	%
	Total Revenues	$	160,268		$	157,386		1.8	%		$	145,493		$	453,979		$	452,580		0.3	%


Expenses
	Operating expenses	$	30,681		$	30,525		0.5	%		$	27,150		$	85,725		$	85,285		0.5	%
	Real estate taxes	30,481			30,132			1.2	%		30,040			90,562			87,258			3.8	%
	Operating lease rent	108			108			—	%		108			325			325			—	%
	Total Operating Expenses	$	61,270		$	60,765		0.8	%		$	57,298		$	176,612		$	172,868		2.2	%

	Operating Income	$	98,998		$	96,621		2.5	%		$	88,195		$	277,367		$	279,712		(0.8)	%

	Interest expense & amortization of financing costs	$	50,866		$	53,767		(5.4)	%		$	51,831		$	156,755		$	156,284		0.3	%
	Depreciation & amortization	50,037			50,772			(1.4)	%		53,496			154,098			151,488			1.7	%

	Loss before noncontrolling interest	$	(1,905)		$	(7,918)		(75.9)	%		$	(17,132)		$	(33,486)		$	(28,060)		19.3	%
	Real estate depreciation & amortization	50,036			50,768			(1.4)	%		53,494			154,091			151,475			1.7	%
	FFO Contribution	$	48,131		$	42,850		12.3	%		$	36,362		$	120,605		$	123,415		(2.3)	%

	Non–building revenue	(191)			(522)			(63.4)	%		(354)			(691)			(1,898)			(63.6)	%

	Interest expense & amortization of financing costs	50,866			53,767			(5.4)	%		51,831			156,755			156,284			0.3	%
	Non-real estate depreciation	1			4			(75.0)	%		2			7			13			(46.2)	%
	NOI	$	98,807		$	96,099		2.8	%		$	87,841		$	276,676		$	277,814		(0.4)	%

Cash Adjustments
	Free rent (net of amortization)	$	1,590		$	556		186.0	%		$	2,285		$	4,526		$	(5,766)		(178.5)	%
	Straight-line revenue adjustment	(3,819)			(3,348)			14.1	%		(3,612)			(10,224)			(11,864)			(13.8)	%
	Amortization of acquired above and below-market leases, net	(4,409)			(4,318)			2.1	%		(4,409)			(13,225)			(12,754)			3.7	%
	Operating lease straight-line adjustment	—			—			—	%		—			—			—			—	%
	Straight-line tenant credit loss	10			(16)			(162.5)	%		3			264			(177)			(249.2)	%
	Cash NOI	$	92,179		$	88,973		3.6	%		$	82,108		$	258,017		$	247,253		4.4	%

	Lease termination income	(223)			(1,148)			(80.6)	%		(57)			(3,566)			(1,882)			89.5	%
	Cash NOI excluding lease termination income	$	91,956		$	87,825		4.7	%		$	82,051		$	254,451		$	245,371		3.7	%

Operating Margins
	NOI to real estate revenue, net	61.7		%	61.3		%				60.5		%	61.0		%	61.6		%
	Cash NOI to real estate revenue, net	57.6		%	56.7		%				56.6		%	56.9		%	54.9		%

	NOI before operating lease rent/real estate revenue, net	61.8		%	61.3		%				60.6		%	61.1		%	61.7		%
	Cash NOI before operating lease rent/real estate revenue, net	57.7		%	56.8		%				56.6		%	57.0		%	54.9		%


Supplemental Information			22			Third Quarter 2024



SELECTED FINANCIAL DATA Same Store Net Operating Income Unaudited (Dollars in Thousands)


		Three Months Ended								Three Months Ended				Nine Months Ended

		September 30,			September 30,						June 30,			September 30,			September 30,
		2024			2023			%			2024			2024			2023			%
Revenues
	Rental revenue, net	$	127,645		$	128,993		(1.0)	%		$	124,933		$	381,694		$	394,352		(3.2)	%
	Escalation & reimbursement revenues	17,056			19,042			(10.4)	%		14,730			45,577			53,080			(14.1)	%
	Other income	2,069			2,365			(12.5)	%		1,369			4,685			3,332			40.6	%
	Total Revenues	$	146,770		$	150,400		(2.4)	%		$	141,032		$	431,956		$	450,764		(4.2)	%

	Equity in net income (loss) from unconsolidated joint ventures (1)	$	(1,905)		$	(7,918)		(75.9)	%		$	(17,132)		$	(33,486)		$	(28,060)		19.3	%
Expenses
	Operating expenses	$	39,332		$	39,663		(0.8)	%		$	35,923		$	112,387		$	112,459		(0.1)	%
	Real estate taxes	31,230			31,309			(0.3)	%		30,832			93,483			93,494			—	%
	Operating lease rent	6,106			6,106			0.0	%		6,106			18,317			18,317			—	%
	Total Operating Expenses	$	76,668		$	77,078		(0.5)	%		$	72,861		$	224,187		$	224,270		—	%

	Operating Income	$	68,197		$	65,404		4.3	%		$	51,039		$	174,283		$	198,434		(12.2)	%

	Interest expense & amortization of financing costs	$	19,396		$	19,195		1.0	%		$	19,308		$	58,271		$	56,102		3.9	%
	Depreciation & amortization	45,966			44,273			3.8	%		44,960			135,269			132,978			1.7	%

	(Loss) income before noncontrolling interest	$	2,835		$	1,936		46.4	%		$	(13,229)		$	(19,257)		$	9,354		(305.9)	%
	Real estate depreciation & amortization	45,966			44,273			3.8	%		44,960			135,269			132,978			1.7	%
	Joint Ventures Real estate depreciation & amortization (1)	50,036			50,768			(1.4)	%		53,494			154,091			151,475			1.7	%
	FFO Contribution	$	98,837		$	96,977		1.9	%		$	85,225		$	270,103		$	293,807		(8.1)	%

	Non–building revenue	(662)			(150)			341.3	%		(283)			(1,012)			(343)			195.0	%
	Joint Ventures Non–building revenue (1)	(191)			(522)			(63.4)	%		(354)			(691)			(1,898)			(63.6)	%

	Interest expense & amortization of financing costs	19,396			19,195			1.0	%		19,308			58,271			56,102			3.9	%
	Joint Ventures Interest expense & amortization of financing costs (1)	50,866			53,767			(5.4)	%		51,831			156,755			156,284			0.3	%
	Non-real estate depreciation	—			—			—	%		—			—			—			—	%
	Joint Ventures Non-real estate depreciation (1)	1			4			(75.0)	%		2			7			13			(46.2)	%
	NOI	$	168,247		$	169,271		(0.6)	%		$	155,729		$	483,433		$	503,965		(4.1)	%

Cash Adjustments
	Non-cash adjustments	$	1,712		$	(1,579)		(208.4)	%		$	2,812		$	1,872		$	(9,722)		(119.3)	%
	Joint Ventures non-cash adjustments (1)	(6,628)			(7,126)			(7.0)	%		(5,733)			(18,659)			(30,561)			(38.9)	%
	Cash NOI	$	163,331		$	160,566		1.7	%		$	152,808		$	466,646		$	463,682		0.6	%

	Lease termination income	$	(1,369)		$	(2,200)		(37.8)	%		$	(1,069)		$	(3,601)		$	(2,952)		22.0	%
	Joint Ventures lease termination income (1)	(223)			(1,148)			(80.6)	%		(57)			(3,566)			(1,882)			89.5	%
	Cash NOI excluding lease termination income	$	161,739		$	157,218		2.9	%		$	151,682		$	459,479		$	458,848		0.1	%

Operating Margins
	NOI to real estate revenue, net	54.9		%	55.1		%				54.5		%	54.7		%	55.9		%
	Cash NOI to real estate revenue, net	53.3		%	52.3		%				53.5		%	52.8		%	51.5		%

	NOI before operating lease rent/real estate revenue, net	57.0		%	57.1		%				56.6		%	56.8		%	58.0		%
	Cash NOI before operating lease rent/real estate revenue, net	55.3		%	54.2		%				55.6		%	54.8		%	53.5		%


(1) The amount represents the Company's share of same-store unconsolidated joint venture activity. The Company does not control investments in unconsolidated joint ventures.


Supplemental Information			23			Third Quarter 2024



DEBT SUMMARY SCHEDULE Consolidated Unaudited (Dollars in Thousands)


					Principal					2024		Current	Final		Principal
			Ownership		Outstanding					Principal		Maturity	Maturity		Due at
Fixed rate debt			Interest (%)		9/30/2024		Coupon (1)			Amortization		Date	Date (2)		Maturity
Secured fixed rate debt
	420 Lexington Avenue			100.0	$	272,750		3.99%		$	4,488	Oct-24	Oct-40	(3)(4)	$	272,750
	10 East 53rd Street (capped)			55.0	205,000			5.45%		—		May-25	May-28	(3)	205,000
	100 Church Street (swapped)			100.0	370,000			5.89%		—		Jun-25	Jun-27		370,000
	185 Broadway / 7 Dey			100.0	190,148			6.65%		—		Nov-25	Nov-26	(3)	190,148
	Landmark Square			100.0	100,000			4.90%		—		Jan-27	Jan-27		100,000
	485 Lexington Avenue			100.0	450,000			4.25%		—		Feb-27	Feb-27		450,000









					$	1,587,898		5.07%		$	4,488				$	1,587,898
Unsecured fixed rate debt
	Term Loan B (swapped)				$	200,000		4.41%		$	—	Nov-24	Nov-24		$	200,000
	Unsecured notes				100,000			4.27%		—		Dec-25	Dec-25		100,000
	Revolving credit facility (swapped)				250,000			5.17%		—		May-26	May-27	(3)	250,000
	Term Loan A (swapped)				1,050,000			4.54%	(5)	—		May-27	May-27		1,050,000
	Junior subordinated deferrable interest debentures (swapped)				100,000			5.27%		—		Jul-35	Jul-35		100,000










					$	1,700,000		4.65%		$	—				$	1,700,000

		Total Fixed Rate Debt			$	3,287,898		4.85%		$	4,488				$	3,287,898
Floating rate debt












	Alternative strategy portfolio
	690 Madison (SOFR + 50 bps)			100.0	$	60,900		5.35%		$	—	Jul-25	Jul-25		$	60,900









					$	60,900		5.35%		$	—				$	60,900

Unsecured floating rate debt
	Revolving credit facility (SOFR+ 150 bps) (6)			100.0	$	485,000		6.35%		$	—	May-26	May-27	(3)	$	485,000










					$	485,000		6.35%		$	—				$	485,000

		Total Floating Rate Debt			$	545,900		6.23%		$	—				$	545,900

		Consolidated Debt			$	3,772,898		5.04%
		Alternative Strategy Portfolio Debt			$	60,900		5.35%
		Total Debt - Consolidated			$	3,833,798		5.05%		$	4,488				$	3,833,798


		Deferred financing costs			(12,903)
		Total Debt - Consolidated, net			$	3,820,895		5.05%

		Total Debt - Unconsolidated JV, net			$	6,829,019		4.64%

Debt including SLG share of JV Debt					$	9,708,448		4.57%
Alternative Strategy Portfolio Debt including SLG share of JV Debt					$	1,001,766		6.90%
Total Debt including SLG share of JV Debt					$	10,710,214		4.79%

Weighted Average Balance & Interest Rate for the quarter, including SLG share of JV Debt					$	10,725,619		4.78%

(1) Coupon for floating rate debt determined using the effective Term SOFR rate at the end of the quarter of 4.85%. Coupon for loans that are subject to SOFR floors, interest rate caps or interest rate swaps were determined using the SOFR floors, interest rate cap strike rate, or swapped interest rate plus the applicable loan spread.
(2) Reflects exercise of all available extension options, which may be subject to conditions and/or result in adjusted terms.
(3) As-of-right extension.
(4) In October 2024, the loan was extended through October 2040.
(5) Represents a blended swapped rate inclusive of the effect of multiple swaps.
(6) Spread includes applicable Term SOFR adjustment.


Supplemental Information			24			Third Quarter 2024



DEBT SUMMARY SCHEDULE Unconsolidated JVs Unaudited (Dollars in Thousands)


				Principal Outstanding							2024 Principal		Current		Final		Principal
			Ownership	9/30/2024						Amortization			Maturity		Maturity		Due at Maturity
Fixed rate debt			Interest (%)	Gross Principal		SLG Share		Coupon (1)			(SLG Share)		Date		Date (2)		(SLG Share)
	1515 Broadway		56.9	$	746,330	$	424,431		3.93%		$	11,975	Mar-25		Mar-25		$	419,372
	450 Park Avenue (swapped)		25.1	282,789		70,980			6.57%	(3)	—		Jun-25		Jun-27		70,980
	11 Madison Avenue		60.0	1,400,000		840,000			3.84%		—		Sep-25		Sep-25		840,000
	One Madison Avenue (capped)		25.5	625,567		159,520			7.10%		—		Nov-25		Nov-26		159,520
	15 Beekman		20.0	120,000		24,000			5.99%		—		Jan-26		Jan-28		24,000
	800 Third Avenue (swapped)		60.5	177,000		107,120			3.37%		—		Feb-26		Feb-26		107,120
	919 Third Avenue (swapped)		51.0	500,000		255,000			6.11%		—		Apr-26		Apr-28		255,000
	280 Park Avenue (swapped)		50.0	1,075,000		537,500			5.84%		—		Sep-26		Sep-28		537,500
	245 Park Avenue		50.1	1,768,000		885,768			4.30%		—		Jun-27		Jun-27		885,768
	220 East 42nd		51.0	496,412		253,170			6.77%		—		Dec-27		Dec-27		253,170
	One Vanderbilt Avenue		71.0	3,000,000		2,130,300			2.95%		—		Jul-31		Jul-31		2,130,300










				$	10,191,098	$	5,687,789		4.13%	(4)	$	11,975					$	5,682,730
	Alternative strategy portfolio
	650 Fifth Avenue		50.0	$	65,000	$	32,500		5.45%		$	—	Feb-25		Jul-25		$	32,500
	115 Spring Street		51.0	65,550		33,431			5.50%		—		Mar-25		Mar-25		33,431
	Worldwide Plaza		25.0	1,200,000		299,400			3.98%		—		Nov-27		Nov-27		299,400












				$	1,330,550	$	365,331		4.25%	(4)	$	—					$	365,331

	Total Fixed Rate Debt			$	11,521,648	$	6,053,120		4.14%	(4)	$	11,975					$	6,048,061
Floating rate debt
	100 Park Avenue (SOFR + 236 bps) (5)		49.9	$	360,000	$	179,640		7.21%		$	—	Dec-24		Dec-25		$	179,640
	One Madison Avenue (SOFR + 310 bps)		25.5	267,143		68,121			7.95%		—		Nov-25		Nov-26		68,121











				$	627,143	$	247,761		7.41%	(4)	$	—					$	247,761
	Alternative strategy portfolio
	11 West 34th Street (LIBOR + 145 bps)		30.0	$	23,000	$	6,900		6.67%	(6)	—		Feb-23	(7)	Feb-23	(7)	$	6,900
	1552 Broadway (SOFR + 275 bps) (5)		50.0	193,133		96,566			7.60%		—		Feb-24	(8)	Feb-24	(8)	96,566
	5 Times Square (SOFR + 471 bps)		31.6	1,163,451		367,069			9.56%		—		Sep-24	(9)	Sep-26	(9)	367,069
	650 Fifth Avenue (SOFR + 225 bps)		50.0	210,000		105,000			7.10%		—		Feb-25		Jul-25		105,000











				$	1,589,584	$	575,535		8.75%	(4)	$	—					$	575,535

	Total Floating Rate Debt			$	2,216,727	$	823,296		8.34%	(4)	$	—					$	823,296

	Unconsolidated JV Debt			$	10,818,241	$	5,935,550		4.27%	(4)
	Alternative Strategy Portfolio Debt			$	2,920,134	$	940,866		7.00%	(4)
	Total Debt - Unconsolidated JV			$	13,738,375	$	6,876,416		4.64%	(4)	$	11,975					$	6,871,357
		Deferred financing costs		(85,064)		(47,397)
	Total Debt - Unconsolidated JV, net			$	13,653,311	$	6,829,019		4.64%	(4)

(1) Coupon for floating rate debt determined using the effective Term SOFR rate at the end of the quarter of 4.85%. Coupon for loans that are subject to SOFR floors, interest rate caps or interest rate swaps were determined using the SOFR floors, interest rate cap strike rate, or swapped interest rate plus the applicable loan spread.
(2) Reflects exercise of all available extension options, which may be subject to conditions and/or result in adjusted terms.
(3) Coupon reflects interest rate swaps executed at the corporate level for SLG’s share of the outstanding debt.
(4) Calculated based on SL Green's share of the outstanding debt.
(5) Spread includes applicable Term SOFR adjustment.
(6) The coupon rate is based on the last available LIBOR on June 30, 2023.
(7) The Company's joint venture partner is in discussions with the lender on resolution of the past maturity.
(8) The Company is in discussions with the lender on resolution of the past maturity.
(9) The joint venture has agreed to cooperate with the lender on the past due maturity.


Supplemental Information			25			Third Quarter 2024



DEBT COMPOSITION AND CORPORATE DEBT COVENANTS Unaudited (Dollars in Thousands)



Composition of Debt

		Core Portfolio			Alternative Strategy Portfolio			Total
Fixed Rate Debt
	Consolidated	$	3,287,898		$	—		$	3,287,898
	SLG Share of JV	5,687,789			365,331			6,053,120
	Total Fixed Rate Debt	$	8,975,687	92.5%	$	365,331	36.5%	$	9,341,018	87.2%

Floating Rate Debt
	Consolidated	$	485,000		$	60,900		$	545,900
	SLG Share of JV	247,761			575,535			823,296
		732,761		7.5%	636,435		63.5%	1,369,196		12.8%
	Debt & Preferred Equity and Other Investments	(59,604)		(0.6)%	(49,846)		(5.0)%	(109,450)		(1.0)%
	Total Floating Rate Debt	$	673,157	6.9%	$	586,589	58.6%	$	1,259,746	11.8%

	Total Debt	$	9,708,448		$	1,001,766		$	10,710,214

Revolving Credit Facility Covenants (1)

Actual

Required

Total Debt / Total Assets

39.3%

Less than 60%

Consolidated Fixed Charge Coverage

1.61x

Greater than 1.40x

Maximum Secured Indebtedness

18.4%

Less than 50%

Maximum Unencumbered Leverage Ratio

39.0%

Less than 60%

Unsecured Notes Covenants (1)

Actual

Required

Total Debt / Total Assets

37.1%

Less than 60%

Secured Debt / Total Assets

20.5%

Less than 40%

Debt Service Coverage

2.34x

Greater than 1.50x

Unencumbered Assets / Unsecured Debt

326.8%

Greater than 150%

(1) Covenants calculated pursuant to the terms of the underlying facility or notes.


Supplemental Information			26			Third Quarter 2024



DERIVATIVE SUMMARY SCHEDULE Unaudited (Dollars in Thousands)



Consolidated Interest Rate Derivatives
			Ownership	Notional Value	Fair Value
Secured Debt			Interest (%)	9/30/2024	9/30/2024		Instrument (1)	Strike Rate (1)		Effective Date	Maturity Date
10 East 53rd Street			55.0	$205,000	$395		Cap	4.00	%	February 2024	February 2025

100 Church Street			100.0	$370,000	$(5,513)		Swap	3.89	%	November 2022	June 2027

SLGOP – 450 Park Avenue			100.0	$68,678	$(2,076)	(2)	Swap	4.47	%	August 2024	June 2027

Unsecured Debt
Term Loan A			100.0	$150,000	$1,870		Swap	2.62	%	December 2021	January 2026
Term Loan A			100.0	200,000	3,391		Swap	2.59	%	February 2023	February 2027
Term Loan A			100.0	100,000	991		Swap	2.90	%	February 2023	February 2027
Term Loan A			100.0	100,000	1,374		Swap	2.73	%	February 2023	February 2027
Term Loan A			100.0	50,000	992		Swap	2.46	%	February 2023	February 2027
Term Loan A			100.0	300,000	3,333		Swap	2.87	%	July 2023	May 2027
Term Loan A			100.0	150,000	(792)		Swap	3.52	%	January 2024	May 2027

Term Loan B			100.0	$200,000	$5,892		Swap	2.66	%	December 2021	January 2026

Revolver			100.0	$125,000	$(826)		Swap	3.67	%	August 2024	December 2026
Revolver			100.0	125,000	(841)		Swap	3.67	%	August 2024	December 2026

Junior subordinated deferrable interest debentures			100.0	$100,000	$(1,482)		Swap	3.76	%	January 2023	January 2028

Forward-starting Derivatives
SLGOP – One Madison Avenue			100.0	$300,000	$(10,723)	(2)	Swap	4.49	%	November 2024	November 2027

10 East 53rd Street			55.0	$204,963	$(4,683)		Swap	3.92	%	February 2025	May 2028


Unconsolidated JV Interest Rate Derivatives
		Notional Value		Fair Value
	Ownership	9/30/2024		9/30/2024
Secured Debt	Interest (%)	Gross	SLG Share	Gross	SLG Share		Instrument (1)	Strike Rate (1)		Effective Date	Maturity Date
One Madison Avenue	25.5	$312,783	$79,760	$294	$75		Cap	4.00	%	May 2024	November 2024
One Madison Avenue	25.5	$312,783	$79,760	$294	$75		Cap	4.00	%	May 2024	November 2024

800 Third Avenue	60.5	$177,000	$107,120	$4,836	$2,927		Swap	1.55	%	December 2022	February 2026

919 Third Avenue	51.0	$250,000	$127,500	$(67)	$(34)		Swap	3.61	%	April 2023	February 2026
919 Third Avenue	51.0	250,000	127,500	$(67)	$(34)		Swap	3.61	%	April 2023	February 2026

280 Park Avenue	50.0	$537,500	$268,750	$(16,710)	$(8,355)		Swap	4.07	%	July 2024	September 2028
280 Park Avenue	50.0	268,750	134,375	(7,984)	(3,992)		Swap	4.04	%	July 2024	September 2028
280 Park Avenue	50.0	268,750	134,375	(8,176)	(4,088)		Swap	4.06	%	July 2024	September 2028

(1) Certain financings require the purchase of a cap at a specified strike rate.
(2) Quarterly changes in fair value recognized in the calculation of FFO.


Supplemental Information			27			Third Quarter 2024



SUMMARY OF LEASE LIABILITIES Unaudited (Dollars in Thousands)


			Scheduled Cash Payment (1)												Lease			Year of Final
Property			2024			2025			2026			2027			Liabilities (2)			Expiration (3)

Consolidated Lease Liabilities (SLG Share)

Operating Leases
1185 Avenue of the Americas			$	1,727		$	6,909		$	6,909		$	6,909		$	84,176		2043
SL Green Headquarters at One Vanderbilt			425		(4)	1,736		(4)	1,776		(4)	1,779		(4)	89,736			2048
SUMMIT One Vanderbilt			1,739		(4)	6,958		(4)	6,958		(4)	6,958		(4)	430,056			2070
420 Lexington Avenue			2,800			11,199			11,199			11,199			171,370			2080
711 Third Avenue			1,375		(5)	5,500		(5)	5,500		(5)	5,500		(5)	39,900		(5)	2083
Total			$	8,066		$	32,302		$	32,342		$	32,345		$	815,238

Financing Leases
15 Beekman			$	796		$	3,228		$	3,276		$	3,325		$	106,518		2119	(6)
Total			$	796		$	3,228		$	3,276		$	3,325		$	106,518

	SLG		Scheduled Cash Payment (1)												Lease			Year of Final
Property	Interest (%)		2024			2025			2026			2027			Liabilities (2)			Expiration (3)

Unconsolidated Joint Venture Lease Liabilities (SLG Share)

Operating Leases
Equinox Studio City (7)		33.3	$	153		$	614		$	614		$	693		$	3,050		2029

Alternative strategy portfolio
650 Fifth Avenue (Floors 4-6)		50.0	$	448		$	1,790		$	1,802		$	1,935		$	13,951		2053
650 Fifth Avenue (Floors b-3)		50.0	393			1,569			1,571			1,585			31,855			2062
5 Times Square		31.6	—		(8)	—		(8)	—		(8)	—		(8)	—		(8)	2089
1560 Broadway		50.0	1,869			7,476			7,554			7,610			60,079			2114

Total			$	2,863		$	11,449		$	11,541		$	11,823		$	108,935

Financing Leases
One Vanderbilt Avenue Garage		71.0	$	52		$	211		$	213		$	215		$	3,446		2069
885 Third Avenue		34.1	187			795			817			817			15,550			2119

Alternative strategy portfolio
650 Fifth Avenue (Floors b-3)		50.0	$	1,841		$	7,364		$	7,364		$	7,364		$	103,907		2062
2 Herald Square		95.0	3,593			14,613			14,978			15,353			404,131			2077	(6)

Total			$	5,673		$	22,983		$	23,372		$	23,749		$	527,034

(1) Reflects SLG's share of remaining contractual base rent for each year presented. Leases may provide for additional rent payments based on exceeding specified thresholds.
(2) Per the balance sheet as of September 30, 2024.
(3) Reflects all available extension options.
(4) Reflects scheduled cash payments net of the Company's 71.0% ownership interest in One Vanderbilt.
(5) Reflects scheduled cash payments net of the Company's 50.0% ownership of the fee interest in the property.
(6) The Company has an option to purchase the ground lease for a fixed price on a specific date. Scheduled cash payments do not reflect the exercise of the purchase option.
(7) The Company has a JV interest in the sublandlord for the premises. Amounts reflect the sublandlord's lease obligation to the fee owner and have not been reduced by rents owed to the sublandlord under a sublease covering 100% of the premises.
(8) The base rent amount is determined semi-annually by the City of New York under a payment in-lieu of real estate taxes (PILOT) program.


Supplemental Information			28			Third Quarter 2024



DEBT AND PREFERRED EQUITY INVESTMENTS Unaudited (Dollars in Thousands)


					Weighted Average Book			Weighted Average		Weighted Average Yield
		Book Value (1)			Value During Quarter			Yield During Quarter (2)		At End Of Quarter (3)

9/30/2023			$	334,327		$	608,701		6.15%		8.21%

Debt investment originations/fundings/accretion	(4)		10.315
Preferred Equity investment originations/accretion	(4)		2,103
Joint venture investment originations/accretion/amortization	(4)		—
Redemptions/Sales/Syndications/Equity Ownership/Amortization			—
Reserves/Realized Losses			—
12/31/2023			$	346,745		$	358,011		7.79%		7.92%

Debt investment originations/fundings/accretion	(4)		3,487
Preferred Equity investment originations/accretion	(4)		2,115
Joint venture investment originations/accretion/amortization	(4)		—
Redemptions/Sales/Syndications/Equity Ownership/Amortization			—
Reserves/Realized Losses			—
3/31/2024			$	352,347		$	362,794		7.82%		7.95%

Debt investment originations/fundings/accretion	(4)		619
Preferred Equity investment originations/accretion	(4)		2,150
Joint venture investment originations/accretion/amortization	(4)		205,208
Redemptions/Sales/Syndications/Equity Ownership/Amortization			(64,629)
Reserves/Realized Losses			—
6/30/2024			$	495,695		$	405,571		7.41%		7.46%

Debt investment originations/fundings/accretion	(4)		1,228
Preferred Equity investment originations/accretion	(4)		2,209
Joint venture investment originations/accretion/amortization	(4)		4,684
Redemptions/Sales/Syndications/Equity Ownership/Amortization			—
Reserves/Realized Losses			—
9/30/2024			$	503,816		$	514,192		7.35%		7.43%

(1) Net of unamortized fees, discounts, and premiums.
(2) Excludes loan loss reserves and accelerated fee income resulting from early repayment.
(3) Calculated based on GAAP income, which includes cash interest, paid-in-kind interest, fee accrual and amortization of discounts, recognized in the last month of the quarter. Excludes accelerated fee income resulting from early repayment and loan loss reserves.
(4) Includes funded future funding obligations, amortization of fees and discounts and paid-in-kind investment income.


Supplemental Information			29			Third Quarter 2024



DEBT AND PREFERRED EQUITY INVESTMENTS Unaudited (Dollars in Thousands, Except Per Square Foot Amounts)


	Book Value							Senior		Weighted Average			Weighted Average		Weighted Average Yield
Type of Investment	Floating rate		Fixed rate		Total			Financing		Exposure PSF (1)			Yield During Quarter (2)		At End Of Quarter (2) (3)





Mezzanine Debt	$	109,450	$	50,000	$	159,450		$	804,021		$	585		6.27%		6.32%

Preferred Equity	—		134,474		134,474			250,000			$	780		6.46%		6.55%

Joint Venture Preferred Equity	—		209,892		209,892			209,940			$	739		8.81%		8.91%

Balance as of 9/30/2024	$	109,450	$	394,366	$	503,816	(4)				$	700		7.35%		7.43%


	Debt and Preferred Equity Maturity Profile (4)
	2024		2025		2026		2027		2028 & Thereafter
Floating Rate	$	49,846	$	8,620	$	50,984	$	—	$	—
Fixed Rate	—		30,000		209,892		134,474		20,000
Sub-total	$	49,846	$	38,620	$	260,876	$	134,474	$	20,000

(1) Net of loan loss reserves.

(2) Excludes accelerated fee income resulting from early repayment and loan loss reserves.

(3) Calculated based on GAAP income, which includes cash interest, paid-in-kind interest, fee accrual and amortization of discounts, recognized in the last month of the quarter, excluding accelerated fee income resulting from early repayment and loan loss reserves.

(4) The weighted average maturity of the outstanding balance is 2.07 years. Approximately 9.8% of our portfolio of investments have extension options, some of which may be subject to certain conditions for extension. The weighted average fully extended maturity of the outstanding balance is 2.17 years.


Supplemental Information			30			Third Quarter 2024



DEBT AND PREFERRED EQUITY INVESTMENTS Unaudited (Dollars in Thousands, Except Per Square Foot Amounts)


	Book Value (1)			Property		Senior						Yield At End
Investment Type	9/30/2024			Type	Location	Financing		Last $ PSF (2)			Fixed/Floating	Of Quarter (3)


Preferred Equity (4)	$	209,892	(4)	Office	Manhattan	$	204,940		$	739	Fixed	8.91%

Preferred Equity	134,474			Multi-Family Rental	Manhattan	250,000			$	780	Fixed	6.55%

Mezzanine Loan	50,984			Office	Manhattan	190,021			$	738	Floating	10.30%

Mezzanine Loan (5)	49,846		(5)	Office	Manhattan	275,000			$	414	Floating	(6)

Mezzanine Loan	30,000			Office	Manhattan	95,000			$	573	Fixed	8.52%

Mezzanine Loan	20,000			Multi-Family Rental	Brooklyn	85,000			$	696	Fixed	8.11%

Mezzanine Loan	8,620			Office	Manhattan	54,000			$	452	Floating	17.34%



Total	$	503,816

(1) Net of unamortized fees, discounts, premiums and loan loss reserves.
(2) Reflects the last dollar of exposure to the Company's most junior position.
(3) Calculated based on accounting income, which includes cash interest, paid-in-kind interest, fee accrual and amortization of discounts, recognized in the last month of the quarter excluding loan loss reserves.
(4) Investment is included in the Investment in unconsolidated joint ventures line item in our consolidated balance sheet.
(5) Alternative Strategy Portfolio asset.
(6) Loan was put on non-accrual in the first quarter of 2023 and continues to be on non-accrual as of September 30, 2024.


Supplemental Information			31			Third Quarter 2024



SELECTED PROPERTY DATA Manhattan Operating Properties Unaudited (Dollars in Thousands)


	Ownership				% of Total		September 30, 2024				June 30, 2024				Annualized Contractual Cash Rent		Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Square Feet (1)	Sq. Feet		% Occupied (2)		% Leased (3)		% Occupied (2)		% Leased (3)		($'s)	SLG Share ($'s)
CONSOLIDATED PROPERTIES
"Same Store"
10 East 53rd Street	55.0	Plaza District	Fee Interest	354,300	1.6		98.1		98.1		96.3		98.1		$34,066	$18,736	40
100 Church Street	100.0	Downtown	Fee Interest	1,047,500	4.8		93.1		93.1		93.1		93.1		49,396	49,396	20
110 Greene Street	100.0	Soho	Fee Interest	223,600	1.0		91.3		91.4		91.8		92.2		18,465	18,465	53
125 Park Avenue	100.0	Grand Central	Fee Interest	604,245	2.8		100.0		100.0		99.9		99.9		48,292	48,292	24
304 Park Avenue South	100.0	Midtown South	Fee Interest	215,000	1.0		100.0		100.0		100.0		100.0		18,641	18,641	7
420 Lexington Ave (Graybar)	100.0	Grand Central North	Leasehold Interest	1,188,000	5.5		87.0		90.3		87.2		87.9		82,604	82,604	168
461 Fifth Avenue	100.0	Midtown	Fee Interest	200,000	0.9		92.9		98.2		80.1		98.2		16,765	16,765	17
485 Lexington Avenue	100.0	Grand Central North	Fee Interest	921,000	4.2		77.0		82.4		76.4		82.3		47,003	47,003	30
555 West 57th Street	100.0	Midtown West	Fee Interest	941,000	4.3		88.1		88.1		87.5		88.1		51,890	51,890	12
711 Third Avenue	100.0 (4)	Grand Central North	Leasehold Interest (4)	524,000	2.4		93.7		93.7		94.5		94.5		33,719	33,719	20
810 Seventh Avenue	100.0	Times Square	Fee Interest	692,000	3.2		81.3		86.1		82.4		83.6		42,375	42,375	45
1185 Avenue of the Americas	100.0	Rockefeller Center	Leasehold Interest	1,062,000	4.9		76.8		79.7		73.1		76.8		69,547	69,547	15
1350 Avenue of the Americas	100.0	Rockefeller Center	Fee Interest	562,000	2.6		76.2		78.5		72.1		77.7		34,607	34,607	44









Added to Same Store in 2024
885 Third Avenue	100.0	Midtown / Plaza District	Fee / Leasehold Interest	218,796	1.0		73.1		73.1		73.1		73.1		10,081	10,081	11










Subtotal / Weighted Average				8,753,441	40.2	%	86.4	%	88.4	%	85.3	%	87.5	%	$557,451	$542,121	506
















Total / Weighted Average Consolidated Properties				8,753,441	40.2	%	86.4	%	88.4	%	85.3	%	87.5	%	$557,451	$542,121	506


UNCONSOLIDATED PROPERTIES
"Same Store"
One Vanderbilt Avenue	71.0	Grand Central	Fee Interest	1,657,198	7.6		99.4		100.0		99.0		99.0		$287,359	$204,055	40
11 Madison Avenue	60.0	Park Avenue South	Fee Interest	2,314,000	10.7		96.1		96.1		96.2		96.2		172,838	103,703	7
100 Park Avenue	50.0	Grand Central South	Fee Interest	834,000	3.8		57.5		66.2		58.7		67.4		38,453	19,226	33
220 East 42nd Street	51.0	Grand Central	Fee Interest	1,135,000	5.2		89.5		92.0		88.4		92.0		69,725	35,560	32
280 Park Avenue	50.0	Park Avenue	Fee Interest	1,219,158	5.6		87.9		89.5		85.9		89.5		120,069	60,034	34
800 Third Avenue	60.5	Grand Central North	Fee Interest	526,000	2.4		89.2		89.2		83.1		88.8		35,081	21,224	45
919 Third Avenue	51.0	Grand Central North	Fee Interest	1,454,000	6.7		80.0		80.9		80.0		80.9		82,152	41,897	9
1515 Broadway	56.9	Times Square	Fee Interest	1,750,000	8.1		99.7		99.7		99.7		99.7		139,369	79,301	7










Added to Same Store in 2024
450 Park Avenue	25.1	Park Avenue	Fee Interest	337,000	1.5		89.3		89.3		82.9		89.3		37,861	9,503	23












Subtotal / Weighted Average				11,226,356	51.6	%	90.1	%	91.4	%	89.3	%	91.3	%	$982,907	$574,503	230

"Non Same Store"
245 Park Avenue	50.1	Park Avenue	Fee Interest	1,782,793	8.2		79.0		87.7		76.8		85.4		$143,060	$71,674	14












Subtotal / Weighted Average				1,782,793	8.2	%	79.0	%	87.7	%	76.8	%	85.4	%	$143,060	$71,674	14

Total / Weighted Average Unconsolidated Properties				13,009,149	59.8	%	88.6	%	90.9	%	87.6	%	90.5	%	$1,125,967	$646,177	244

Manhattan Operating Properties Grand Total / Weighted Average				21,762,590	100.0	%	87.7	%	89.9	%	86.7	%	89.3	%	$1,683,418	$1,188,298	750

Manhattan Operating Properties Same Store Occupancy %				19,979,797	91.8	%	88.5	%	90.1	%	87.6	%	89.6	%

(1) Represents the rentable square footage at the time the property was acquired.
(2) Based on commenced leases.
(3) Inclusive of leases signed but not yet commenced.
(4) The Company also owns 50% of the fee interest.


Supplemental Information			32			Third Quarter 2024



SELECTED PROPERTY DATA Retail, Residential and Suburban Operating Properties Unaudited (Dollars in Thousands)


	Ownership				% of Total			September 30, 2024				June 30, 2024				Annualized Contractual Cash Rent		Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Square Feet (1)	Sq. Feet			% Occupied (2)		% Leased (3)		% Occupied (2)		% Leased (3)		($'s)	SLG Share ($'s)

RETAIL PROPERTIES
"Same Store" Retail
85 Fifth Avenue	36.3	Midtown South	Fee Interest	12,946	36.4			100.0		100.0		100.0		100.0		$2,800	$1,016	1





























Subtotal/Weighted Average				12,946	36.4	%		100.0	%	100.0	%	100.0	%	100.0	%	$2,800	$1,016	1

"Non Same Store" Retail
760 Madison Avenue	100.0	Plaza District	Fee Interest	22,648	63.6			100.0		100.0		100.0		100.0		$18,458	$18,458	1












Subtotal/Weighted Average				22,648	63.6	%		100.0	%	100.0	%	100.0	%	100.0	%	$18,458	$18,458	1

Total / Weighted Average Retail Properties				35,594	100.0	%		100.0	%	100.0	%	100.0	%	100.0	%	$21,258	$19,474	2



	Ownership				Total			September 30, 2024				June 30, 2024				Annualized Contractual Cash Rent		Average Monthly Rent Per Unit (4)
Properties	Interest (%)	SubMarket	Ownership	Square Feet (1)	Units			% Occupied (2)		% Leased (3)		% Occupied (2)		% Leased (3)		($'s)	SLG Share ($'s)	($'s)

RESIDENTIAL PROPERTIES
























"Non Same Store" Residential
7 Dey Street	100.0	Lower Manhattan	Fee Interest	140,382	209			96.2		96.7		96.2		97.6		$11,703	$11,703	$4,852
15 Beekman Street	20.0	Downtown	Leasehold Interest	221,884	484		(5)	100.0		100.0		100.0		100.0		13,810	2,762	N/A










Subtotal/Weighted Average				362,266	693			98.8	%	99.0	%	98.8	%	99.3	%	$25,513	$14,465	$4,852

Total / Weighted Average Residential Properties				362,266	693			98.8	%	99.0	%	98.8	%	99.3	%	$25,513	$14,465	$4,852



	Ownership				% of Total			September 30, 2024				June 30, 2024				Annualized Contractual Cash Rent		Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Square Feet (1)	Sq. Feet			% Occupied (2)		% Leased (3)		% Occupied (2)		% Leased (3)		($'s)	SLG Share ($'s)

SUBURBAN PROPERTIES
"Same Store" Suburban
Landmark Square	100.0	Stamford, Connecticut	Fee Interest	862,800	100.0			72.3		73.6		72.4		72.4		$18,178	$18,178	90






















Subtotal/Weighted Average				862,800	100.0	%		72.3	%	73.6	%	72.4	%	72.4	%	$18,178	$18,178	90

Total / Weighted Average Suburban Properties				862,800	100.0	%		72.3	%	73.6	%	72.4	%	72.4	%	$18,178	$18,178	90

(1) Represents the rentable square footage at the time the property was acquired.
(2) Based on commenced leases.
(3) Inclusive of leases signed but not yet commenced.
(4) Calculated based on occupied units. Amount in dollars.
(5) Property occupied by Pace University and used as an academic center and dormitory space. 484 represents number of beds.


Supplemental Information			33			Third Quarter 2024



SELECTED PROPERTY DATA Development / Redevelopment, Alternative Strategy Portfolio & Construction in Progress Properties Unaudited (Dollars in Thousands)


	Ownership				% of Total		September 30, 2024				June 30, 2024				Annualized Contractual Cash Rent		Real Estate Book Value, Net	Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Square Feet (1)	Sq. Feet		% Occupied (2)		% Leased (3)		% Occupied (2)		% Leased (3)		($'s)	SLG Share ($'s)

Development / Redevelopment
One Madison Avenue	25.5	Park Avenue South	Fee Interest	1,385,484	62.0		62.8		66.6		56.6		64.3		$105,457	$26,892	$1,552,069	9
19 East 65th Street	100.0	Plaza District	Fee Interest	14,639	0.7		5.5		5.5		5.5		5.5		32	32	15,189	1
185 Broadway	100.0	Lower Manhattan	Fee Interest	50,206	2.3		34.5		34.5		34.5		34.5		3,454	3,454	49,019	4
750 Third Avenue	100.0	Grand Central North	Fee Interest	780,000	35.0		10.3		10.3		11.4		11.4		7,342	7,342	293,519	12











Total / Weighted Average Development / Redevelopment Properties				2,230,329	100.0	%	43.4	%	45.8	%	40.0	%	44.7	%	$116,285	$37,720	$1,909,796	26
















	Ownership				% of Total		September 30, 2024				June 30, 2024				Annualized Contractual Cash Rent		Investment Carrying Value, Net	Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Square Feet (1)	Sq. Feet		% Occupied (2)		% Leased (3)		% Occupied (2)		% Leased (3)		($'s)	SLG Share ($'s)

Alternative Strategy Portfolio
2 Herald Square	95.0	Herald Square	Leasehold Interest	369,000	10.0		43.9		43.9		43.9		43.9		$20,112	$19,106	$132,445	5
5 Times Square	31.6	Times Square	Leasehold Interest	1,127,931	30.5		23.3		23.3		23.3		23.3		27,116	8,555	147,010	3
11 West 34th Street	30.0	Herald Square/Penn Station	Fee Interest	17,150	0.5		100.0		100.0		100.0		100.0		3,561	1,068	0	1
115 Spring Street	51.0	Soho	Fee Interest	5,218	0.1		100.0		100.0		100.0		100.0		4,098	2,090	(6,324)	1
650 Fifth Avenue	50.0	Plaza District	Leasehold Interest	69,214	1.9		100.0		100.0		100.0		100.0		41,308	20,654	(75,891)	1
690 Madison Avenue	100.0	Plaza District	Fee Interest	7,848	0.2		100.0		100.0		100.0		100.0		1,505	1,505	2,331	1
1552-1560 Broadway	50.0	Times Square	Fee / Leasehold Interest	57,718	1.6		12.6		12.6		74.8		74.8		2,000	1,000	0	1
Worldwide Plaza	25.0	Westside	Fee Interest	2,048,725	55.2		63.3		63.3		91.8		91.8		76,974	19,206	91,610	22









Total / Weighted Average Alternative Strategy Portfolio Properties				3,702,804	100.0	%	49.4	%	49.4	%	66.1	%	66.1	%	$176,674	$73,184	$291,181	35

(1) Represents the rentable square footage at the time the property was acquired.
(2) Based on commenced leases.
(3) Inclusive of leases signed but not yet commenced.


Construction in Progress
										Future Equity								Development
						Equity Contributed				Contributions				Financing				Budget
Building Address		Ownership		Percentage
	Square Feet	Interest (%)	TCO (1)	Sold		Company		Partners		Company		Partners		Drawn		Available		Total (2)


Giorgio Armani Residences at 760 Madison Avenue	35,926	100.0	Q4 2024	100.0%		139,326		—		18,268		—		—		—		157,594


Total Construction In Progress					$139,326		$—		$18,268		$—		$—		$—		$157,594

(1) Temporary Certificate of Occupancy.


Supplemental Information			34			Third Quarter 2024



SELECTED PROPERTY DATA Retail Within Operating, Development / Redevelopment and Alternative Strategy Portfolio Properties Unaudited (Dollars in Thousands)


	Ownership				% of Total		September 30, 2024				June 30, 2024				Annualized Contractual Cash Rent		Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Square Feet (1)	Sq. Feet		% Occupied (2)		% Leased (3)		% Occupied (2)		% Leased (3)		($'s)	SLG Share ($'s)

HIGH STREET RETAIL - Consolidated Properties
760 Madison Avenue	100.0	Plaza District	Fee Interest	22,648	1.8		100.0		100.0		100.0		100.0		$18,458	$18,458	1












Subtotal / Weighted Average				22,648	1.8	%	100.0	%	100.0	%	100.0	%	100.0	%	$18,458	$18,458	1

HIGH STREET RETAIL - Unconsolidated Properties
85 Fifth Avenue	36.3	Midtown South	Fee Interest	12,946	1.0		100.0		100.0		100.0		100.0		$2,800	$1,016	1

















Subtotal / Weighted Average				12,946	1.0	%	100.0	%	100.0	%	100.0	%	100.0	%	$2,800	$1,016	1

Total / Weighted Average High Street Retail				35,594	2.8	%	100.0	%	100.0	%	100.0	%	100.0	%	$21,258	$19,474	2

OTHER RETAIL - Consolidated Properties
10 East 53rd Street	55.0	Plaza District	Fee Interest	38,657	3.0		100.0		100.0		100.0		100.0		$4,099	$2,255	3
100 Church Street	100.0	Downtown	Fee Interest	61,708	4.8		100.0		100.0		100.0		100.0		4,303	4,303	10
110 Greene Street	100.0	Soho	Fee Interest	16,121	1.2		100.0		100.0		100.0		100.0		4,503	4,503	3
125 Park Avenue	100.0	Grand Central	Fee Interest	32,124	2.5		100.0		100.0		97.3		97.3		4,069	4,069	7
185 Broadway	100.0	Lower Manhattan	Fee Interest	16,413	1.3		100.0		100.0		100.0		100.0		3,454	3,454	4
304 Park Avenue South	100.0	Midtown South	Fee Interest	25,330	2.0		100.0		100.0		100.0		100.0		3,656	3,656	5
420 Lexington Ave (Graybar)	100.0	Grand Central North	Leasehold Interest	54,026	4.2		100.0		100.0		100.0		100.0		5,368	5,367	6
461 Fifth Avenue	100.0	Midtown	Fee Interest	16,149	1.2		100.0		100.0		10.8		100.0		1,130	1,130	2
485 Lexington Avenue	100.0	Grand Central North	Fee Interest	41,701	3.2		64.7		64.7		64.7		64.7		4,019	4,019	6
555 West 57th Street	100.0	Midtown West	Fee Interest	53,186	4.1		100.0		100.0		100.0		100.0		3,089	3,089	2
711 Third Avenue	100.0	Grand Central North	Leasehold Interest	25,639	2.0		83.5		83.5		83.5		83.5		2,321	2,321	2
750 Third Avenue (4)	100.0	Grand Central North	Fee Interest	24,827	1.9		47.5		47.5		47.5		47.5		1,754	1,754	4
810 Seventh Avenue	100.0	Times Square	Fee Interest	18,207	1.4		98.6		98.6		98.6		98.6		4,723	4,723	3
885 Third Avenue	100.0	Midtown / Plaza District	Fee / Leasehold Interest	9,140	0.7		100.0		100.0		100.0		100.0		511	511	2
1185 Avenue of the Americas	100.0	Rockefeller Center	Leasehold Interest	58,271	4.5		84.1		84.1		98.3		98.3		2,755	2,755	3
1350 Avenue of the Americas	100.0	Rockefeller Center	Fee Interest	17,797	1.4		100.0		100.0		100.0		100.0		2,652	2,652	6











Subtotal / Weighted Average				509,296	39.4	%	91.8	%	91.8	%	90.5	%	93.3	%	$52,406	$50,561	68

OTHER RETAIL - Unconsolidated Properties
One Vanderbilt Avenue	71.0	Grand Central	Fee Interest	34,885	2.7		100.0		100.0		100.0		100.0		$5,850	$4,154	7
11 Madison Avenue	60.0	Park Avenue South	Fee Interest	38,800	3.0		95.7		95.7		96.4		96.4		3,779	2,267	3
100 Park Avenue	50.0	Grand Central South	Fee Interest	40,022	3.1		91.7		91.7		91.7		91.7		3,018	1,509	6
220 East 42nd Street	51.0	Grand Central	Fee Interest	33,866	2.6		67.1		67.1		67.1		67.1		1,597	815	3
245 Park Avenue	50.1	Park Avenue	Fee Interest	37,220	2.9		50.7		50.7		50.7		50.7		1,157	580	3
280 Park Avenue	50.0	Park Avenue	Fee Interest	28,219	2.2		93.9		93.9		93.9		93.9		1,437	719	2
450 Park Avenue	25.1	Park Avenue	Fee Interest	6,317	0.5		100.0		100.0		100.0		100.0		1,697	426	1
800 Third Avenue	60.5	Grand Central North	Fee Interest	9,900	0.8		100.0		100.0		28.3		100.0		949	574	2
919 Third Avenue	51.0	Grand Central North	Fee Interest	31,004	2.4		98.9		98.9		98.9		98.9		3,895	1,987	4
1515 Broadway	56.9	Times Square	Fee Interest	182,011	14.0		99.8		99.8		99.8		99.8		31,782	18,083	7















Subtotal / Weighted Average				442,244	34.2	%	91.7	%	91.7	%	90.1	%	91.7	%	$55,161	$31,114	38

Total / Weighted Average Other Retail				951,540	73.6	%	91.8	%	91.8	%	90.3	%	92.6	%	$107,567	$81,675	106

(1) Represents the rentable square footage at the time the property was acquired.
(2) Based on commenced leases.
(3) Inclusive of leases signed but not yet commenced.


Supplemental Information			35			Third Quarter 2024



SELECTED PROPERTY DATA - CONTINUED Retail Within Operating, Development / Redevelopment and Alternative Strategy Portfolio Properties Unaudited (Dollars in Thousands)


	Ownership					% of Total		September 30, 2024				June 30, 2024				Annualized Contractual Cash Rent		Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Square Feet (1)		Sq. Feet		% Occupied (2)		% Leased (3)		% Occupied (2)		% Leased (3)		($'s)	SLG Share ($'s)

ALTERNATIVE STRATEGY PORTFOLIO - Consolidated Properties
690 Madison Avenue	100.0	Plaza District	Fee Interest	7,944		0.6		100.0		100.0		100.0		100.0		$1,505	$1,505	1













Subtotal / Weighted Average				7,944		0.6	%	100.0	%	100.0	%	100.0	%	100.0	%	$1,505	$1,505	1

ALTERNATIVE STRATEGY PORTFOLIO - Unconsolidated Properties
2 Herald Square (4)	95.0	Herald Square	Leasehold Interest	94,531		7.3		40.6		40.6		40.6		40.6		$9,679	$9,195	3
5 Times Square (4)	31.6	Times Square	Leasehold Interest	42,934		3.3		56.9		56.9		56.9		56.9		4,260	1,344	2
11 West 34th Street	30.0	Herald Square/Penn Station	Fee Interest	17,150		1.3		100.0		100.0		100.0		100.0		3,561	1,068	1
115 Spring Street	51.0	Soho	Fee Interest	5,218		0.4		100.0		100.0		100.0		100.0		4,098	2,090	1
650 Fifth Avenue	50.0	Plaza District	Leasehold Interest	69,214		5.4		100.0		100.0		100.0		100.0		41,308	20,654	1
1552-1560 Broadway	50.0	Times Square	Fee / Leasehold Interest	57,718		4.5		12.6		12.6		74.8		74.8		2,000	1,000	1
Worldwide Plaza	25.0	Westside	Fee Interest	10,592	(5)	0.8		84.9		84.9		84.9		84.9		1,227	306	7












Subtotal / Weighted Average				297,357		23.0	%	57.4	%	57.4	%	69.5	%	69.5	%	$66,133	$35,657	16

Total / Weighted Average Alternative Strategy Portfolio				305,301		23.6	%	58.5	%	58.5	%	70.3	%	70.3	%	$67,638	$37,162	17


Retail Grand Total / Weighted Average				1,292,435		100.0	%	84.1	%	84.1	%	85.8	%	87.5	%	$196,463	$138,311	125


(1) Represents the rentable square footage at the time the property was acquired.
(2) Based on commenced leases.
(3) Inclusive of leases signed but not yet commenced.
(4) Redevelopment properties.
(5) Excludes the theatre, parking garage, fitness gym and other amenity space totaling 241,371 square feet.


Supplemental Information			36			Third Quarter 2024



LARGEST TENANTS BY SLG SHARE OF ANNUALIZED CASH RENT Unaudited (Dollars in Thousands Except Per SF)


		Ownership Interest %	Lease Expiration (1)	Total Rentable Square Feet	Annualized Contractual Cash Rent ($)	SLG Share of Annualized Contractual Cash Rent ($)	% of SLG Share of Annualized Contractual Cash Rent (2)	Annualized Contractual Rent PSF		Investment Grade Credit Rating (3)
Tenant Name	Property
Paramount Global	1515 Broadway	56.9	Jun 2031	1,603,121	$107,564	$61,204	4.6%	$67.10
	555 West 57th Street	100.0	Apr 2029	186,266	10,790	10,790	0.8	57.93
	1515 Broadway	56.9	Mar 2028	9,106	2,166	1,232	0.1	237.84
	Worldwide Plaza	25.0	Jan 2027	32,598	2,488	621	—	76.34
				1,831,091	$123,008	$73,847	5.5%	$67.18		BBB-

Credit Suisse (USA), Inc.	11 Madison Avenue	60.0	May 2037	1,184,762	$78,221	$46,933	3.5%	$66.02		A+
Sony Corporation	11 Madison Avenue	60.0	Jan 2031	578,791	$52,130	$31,278	2.3%	$90.07		A

TD Bank US Holding Company	One Vanderbilt Avenue	71.0	Jul 2041	193,159	$26,065	$18,509	1.4%	$134.94	(4)
	One Vanderbilt Avenue	71.0	Aug 2041	6,843	3,234	2,296	0.2	472.58
	125 Park Avenue	100.0	Oct 2025	6,234	2,029	2,029	0.2	325.52
	125 Park Avenue	100.0	Oct 2030	26,536	1,842	1,842	0.1	69.40
	125 Park Avenue	100.0	Mar 2034	25,171	1,612	1,612	0.1	64.06
				257,943	$34,782	$26,288	2.0%	$134.84		AA-

Bloomberg L.P.	919 Third Avenue	51.0	Feb 2029	749,216	$49,733	$25,364	1.9%	$66.38
Societe Generale	245 Park Avenue	50.1	Oct 2032	520,831	$50,328	$25,215	1.9%	$96.63		A
Carlyle Investment Management LLC	One Vanderbilt Avenue	71.0	Sep 2036	194,702	$34,586	$24,560	1.8%	$177.64	(4)	A-

McDermott Will & Emery LLP	One Vanderbilt Avenue	71.0	Dec 2042	169,586	$31,985	$22,712	1.7%	$188.61
	420 Lexington Avenue	100.0	Oct 2026	10,043	621	621	—	61.82
				179,629	$32,606	$23,333	1.7%	$181.52

The City of New York	100 Church Street	100.0	Mar 2034	510,007	$22,313	$22,313	1.7%	$43.75		Aa2
King & Spalding	1185 Avenue of the Americas	100.0	Oct 2025	218,275	$21,005	$21,005	1.6%	$96.23
Nike Retail Services, Inc.	650 Fifth Avenue	50.0	Jan 2033	69,214	$41,308	$20,654	1.5%	$596.82		AA-


Metro-North Commuter Railroad Company	420 Lexington Avenue	100.0	Nov 2034	344,873	$20,113	$20,113	1.5%	$58.32
	420 Lexington Avenue	100.0	Jan 2027	7,537	448	448	—	59.48
				352,410	$20,561	$20,561	1.5%	$58.34	(4)	A3

WME IMG, LLC	304 Park Avenue	100.0	Apr 2028	174,069	$13,685	$13,685	1.0%	$78.62
	11 Madison Avenue	60.0	Sep 2030	104,618	10,715	6,429	0.5	102.42
				278,687	$24,400	$20,114	1.5%	$87.55

Franklin Templeton Companies LLC	One Madison Avenue	25.5	May 2040	354,976	$48,439	$12,351	0.9%	$136.45
	280 Park Avenue	50.0	Nov 2031	128,993	13,565	6,783	0.5	105.16
				483,969	$62,004	$19,134	1.4%	$128.12		A

The Toronto Dominion Bank	One Vanderbilt Avenue	71.0	Apr 2042	142,892	$21,302	$15,127	1.1%	$149.08	(4)
	125 Park Avenue	100.0	Apr 2042	52,450	3,603	3,603	0.3	68.69
				195,342	$24,905	$18,730	1.4%	$127.49		AA-

Giorgio Armani Corporation	760 Madison Avenue	100.0	Oct 2038	22,648	$18,458	$18,458	1.4%	$814.98
Stone Ridge Holdings Group LP	One Vanderbilt Avenue	71.0	Dec 2037	97,652	$23,013	$16,342	1.2%	$235.67	(4)
Hess Corp	1185 Avenue of the Americas	100.0	Dec 2027	167,169	$15,439	$15,439	1.1%	$92.36		BBB-
BMW of Manhattan, Inc.	555 West 57th Street	100.0	Jul 2032	226,556	$13,116	$13,116	1.0%	$57.89		A
PJT Partners Holdings LP	280 Park Avenue	50.0	Jun 2041	220,280	$25,885	$12,942	1.0%	$117.51


Total				8,339,174	$767,802	$495,626	36.9%	$92.07




(1) Expiration of current lease term and does not reflect extension options.
(2) SLG Share of Annualized Cash Rent includes Manhattan, Suburban, Retail, Residential, Development / Redevelopment and Alternative Strategy Portfolio properties.
(3) Corporate or bond rating from S&P, Fitch or Moody's.
(4) Tenant pays rent on a net basis. Rent PSF reflects gross equivalent.


Supplemental Information			37			Third Quarter 2024



MANHATTAN TENANT DIVERSIFICATION Unaudited

(1) Excluding residential tenants.


Supplemental Information			38			Third Quarter 2024



LEASING ACTIVITY - MANHATTAN OPERATING PROPERTIES Available Space Unaudited


Activity	Building Address	# of Leases	Square Feet (1)	Rentable SF	Escalated Rent/Rentable SF ($'s)(2)

Available Space at 6/30/24			3,073,203

















Space which became available during the Quarter (3):
Office




	100 Park Avenue	1	10,192	11,044	$97.03
	110 Greene Street	4	8,341	8,359	93.54


	245 Park Avenue	1	37,500	36,387	157.07


	420 Lexington Avenue	6	6,970	10,807	70.94


	485 Lexington Avenue	1	2,266	2,329	60.30

	711 Third Avenue	1	4,446	4,764	76.92

	810 Seventh Avenue	1	15,500	17,320	76.15































	Total/Weighted Average	15	85,215	91,010	$111.65

Retail


	11 Madison Avenue	1	352	275	$94.65



	125 Park Avenue	1	430	430	28.27








	555 West 57th Street	1	70,012	64,926	17.05





	1185 Avenue of the Americas	1	8,327	8,327	307.06


























	Total/Weighted Average	4	79,121	73,958	$50.06






















































	Total Space which became available during the Quarter
	Office	15	85,215	91,010	$111.65
	Retail	4	79,121	73,958	$50.06

		19	164,336	164,968	$84.04

	Total Available Space		3,237,539

(1) Represents the rentable square footage at the time the property was acquired.
(2) Escalated cash rent includes base rent plus all additional amounts paid by the tenant in the form of real estate taxes, operating expenses, porters wage or a consumer price index (CPI) adjustment, excluding concessions.
(3) Includes expiring space, relocating tenants and move-outs where tenants vacated. Excludes lease expirations where tenants heldover.


Supplemental Information			39			Third Quarter 2024



LEASING ACTIVITY - MANHATTAN OPERATING PROPERTIES Commenced Leasing Unaudited


Activity	Building Address	# of Leases	Term (Yrs)	Square Feet (1)	Rentable SF	New Cash Rent / Rentable SF(2)	Prev. Escalated Rent/ Rentable SF(3)	TI / Rentable SF	Free Rent # of Months

Available Space				3,237,539

Office
	One Vanderbilt Avenue	1	5.4	6,708	6,454	$258.00	$—	$3.07	5.0
	10 East 53rd Street	1	1.3	6,481	7,830	73.44	73.44	12.38	—



	110 Greene Street	3	4.2	7,200	7,207	89.33	88.32	14.30	2.1

	220 East 42nd Street	1	16.0	12,191	13,222	57.00	—	150.04	12.0
	245 Park Avenue	2	15.0	76,705	76,204	127.00	122.42	175.00	20.0
	280 Park Avenue	1	12.7	24,824	22,931	116.00	116.83	140.00	12.0

	420 Lexington Avenue	5	5.5	5,152	6,799	60.77	65.91	90.07	2.2
	450 Park Avenue	1	16.4	21,580	21,640	148.00	—	170.00	17.0
	461 Fifth Avenue	1	10.6	10,595	11,232	75.00	—	45.19	7.0
	485 Lexington Avenue	2	5.5	7,780	7,993	60.87	—	63.93	6.9
	555 West 57th Street	1	13.3	6,144	7,210	58.00	61.23	150.00	16.0

	800 Third Avenue	5	7.3	25,235	26,592	61.05	68.54	44.80	7.3
	810 Seventh Avenue	1	3.0	7,840	8,760	75.00	—	—	—


	1185 Avenue of the Americas	2	8.4	47,748	49,072	65.80	—	46.80	12.4
	1350 Avenue of the Americas	2	9.8	22,607	21,694	80.89	—	171.38	9.2



























	Total/Weighted Average	29	10.9	288,790	294,840	$97.01	$108.38	$109.71	12.3

Retail






	125 Park Avenue	2	13.3	940	1,301	$173.41	$162.20	$19.21	4.0






	461 Fifth Avenue	1	16.0	15,442	13,687	58.45	—	146.12	12.0

	555 West 57th Street	1	2.0	70,012	64,926	17.74	17.05	—	—

	800 Third Avenue	1	10.0	7,100	6,281	87.57	—	51.94	5.0
































	Total/Weighted Average	5	5.0	93,494	86,195	$31.64	$19.90	$27.28	2.3






















































Leased Space
	Office (4)	29	10.9	288,790	294,840	$97.01	$108.38	$109.71	12.3
	Retail	5	5.0	93,494	86,195	$31.64	$19.90	$27.28	2.3

	Total	34	9.6	382,284	381,035	$82.22	$76.16	$91.06	10.1


Total Available Space as of 9/30/24				2,855,255
Early Renewals
Office
	One Vanderbilt Avenue	1	1.2	6,896	7,204	$265.00	$254.24	$—	—
	10 East 53rd Street	2	4.2	9,332	11,204	80.47	81.43	0.15	4.8



	110 Greene Street	1	3.3	3,127	3,127	95.00	95.06	—	3.0


	245 Park Avenue	1	16.7	177,548	175,587	150.00	104.10	194.94	20.0


	420 Lexington Avenue	4	3.6	6,518	10,275	66.96	67.25	3.38	5.8




	711 Third Avenue	1	8.0	30,877	38,050	58.00	70.16	30.00	7.0
	800 Third Avenue	1	4.5	18,357	20,010	54.00	74.16	—	6.0
	810 Seventh Avenue	3	6.5	49,788	55,559	77.64	85.02	48.15	—


	1185 Avenue of the Americas	1	5.5	90,086	98,594	69.18	78.83	40.00	6.0
	1350 Avenue of the Americas	2	2.9	5,289	5,038	73.32	73.96	0.40	—



























	Total/Weighted Average	17	10.2	397,818	424,648	$105.79	$91.92	$98.97	10.9











































































































Renewals
	Early Renewals Office	17	10.2	397,818	424,648	$105.79	$91.92	$98.97	10.9
	Early Renewals Retail	—	—	—	—	$0.00	$0.00	—	—

	Total	17	10.2	397,818	424,648	$105.79	$91.92	$98.97	10.9

(1) Represents the rentable square footage at the time the property was acquired.
(2) Annual initial base rent.
(3) Escalated cash rent includes base rent plus all additional amounts paid by the tenant in the form of real estate taxes, operating expenses, porters wage or a consumer price index (CPI) adjustment, excluding concessions.
(4) Average starting office rent excluding new tenants replacing vacancies is $110.32/rsf for 115,640 rentable SF.
Average starting office rent for office space (leased and early renewals, excluding new tenants replacing vacancies) is $106.76/rsf for 540,288 rentable SF.


Supplemental Information			40			Third Quarter 2024



LEASE EXPIRATIONS - MANHATTAN OPERATING PROPERTIES Office, Retail and Storage Leases Unaudited


Year of Lease Expiration	Number of Expiring Leases (1)	Rentable Square Footage of Expiring Leases	SLG Share Rentable Square Footage of Expiring Leases	Percentage of Total Sq. Ft.		Annualized Contractual Cash Rent of Expiring Leases	SLG Share Annualized Contractual Cash Rent of Expiring Leases	Annualized Contractual Cash Rent Per Square Foot of Expiring Leases $/psf (2)	Current Weighted Average Asking Rent $/psf (3)
Wholly-Owned and Consolidated JV Properties


3rd Quarter 2024 (4)	8	25,934	25,934	0.3	%	$1,430,365	$1,430,365	$55.15	$54.20
4th Quarter 2024	18	289,303	281,929	3.6	%	18,502,294	17,762,913	63.95	59.08

Total 2024	26	315,237	307,863	3.9	%	$19,932,659	$19,193,278	$63.23	$58.68





2025	75	720,690	710,826	8.9	%	$57,545,058	$56,782,788	$79.85	$67.61

2026	66	855,274	834,517	10.6	%	57,341,726	55,256,608	67.04	63.37
2027	70	693,596	680,946	8.6	%	56,143,827	54,835,605	80.95	65.72
2028	61	661,862	647,414	8.2	%	48,947,482	47,435,961	73.95	69.65
2029	57	701,982	686,094	8.7	%	47,876,777	46,449,143	68.20	61.71
2030	38	800,609	763,294	9.9	%	55,557,525	52,735,066	69.39	66.31
2031	21	338,295	332,071	4.2	%	24,810,991	24,234,102	73.34	68.60
2032	19	717,608	702,842	8.9	%	44,302,218	43,154,463	61.74	54.66
2033	19	309,033	293,444	3.8	%	25,518,645	23,948,732	82.58	75.97
Thereafter	68	1,945,444	1,930,970	24.3	%	119,473,737	118,095,565	61.41	54.71
Grand Total	520	8,059,630	7,890,281	100.0	%	$557,450,645	$542,121,311	$69.17	$62.27


Unconsolidated JV Properties


3rd Quarter 2024 (4)	2	6,808	3,502	0.1	%	$510,576	$256,944	$75.00	$60.48
4th Quarter 2024	4	21,058	11,180	0.1	%	1,893,508	1,001,241	89.92	79.84

Total 2024	6	27,866	14,682	0.2	%	$2,404,084	$1,258,185	$86.27	$75.11





2025	17	290,412	163,025	2.5	%	$28,858,249	$16,084,757	$99.37	$84.67

2026	32	431,998	217,092	3.7	%	54,288,099	27,569,363	125.67	111.86
2027	25	322,555	150,591	2.8	%	40,174,210	19,191,368	124.55	125.85
2028	24	274,151	155,715	2.3	%	32,310,810	18,667,351	117.86	119.78
2029	18	889,552	454,221	7.6	%	64,475,485	32,720,513	72.48	81.56
2030	18	376,450	215,582	3.2	%	42,504,222	24,350,023	112.91	91.95
2031	21	2,783,989	1,559,796	23.8	%	212,201,840	118,374,683	76.22	77.89
2032	14	992,725	510,781	8.5	%	89,592,185	46,347,255	90.25	102.62
2033	11	209,823	126,744	1.8	%	26,031,979	16,604,266	124.07	127.09
Thereafter	66	5,096,225	2,966,289	43.6	%	533,126,326	325,008,374	104.61	114.80
Grand Total	252	11,695,746	6,534,518	100.0	%	$1,125,967,489	$646,176,138	$96.27	$101.41


(1) Tenants may have multiple leases.
(2) Represents in place annualized contractual cash rent allocated by year of expiration.
(3) Management's estimate of average asking rents for currently occupied space as of September 30, 2024. Taking rents are typically lower than asking rents and may vary from property to property.
(4) Includes month to month holdover tenants that expired prior to September 30, 2024.


Supplemental Information			41			Third Quarter 2024



LEASE EXPIRATIONS Retail Leases Within Operating, Development / Redevelopment and Alternative Strategy Portfolio Properties Wholly-Owned and Consolidated JV's Unaudited


Year of Lease Expiration	Number of Expiring Leases (1)	Rentable Square Footage of Expiring Leases	SLG Share Rentable Square Footage of Expiring Leases	Percentage of Total Sq. Ft.		Annualized Contractual Cash Rent of Expiring Leases	SLG Share Annualized Contractual Cash Rent of Expiring Leases	Annualized Contractual Cash Rent Per Square Foot of Expiring Leases $/psf (2)	Current Weighted Average Asking Rent $/psf (3)
High Street Retail





2024 (4)	—	—	—	—	%	$—	$—	$—	$—






2025	—	—	—	—	%	—	—	—	—
2026	—	—	—	—	%	—	—	—	—
2027	—	—	—	—	%	—	—	—	—
2028	—	—	—	—	%	—	—	—	—
2029	—	—	—	—	%	—	—	—	—
2030	—	—	—	—	%	—	—	—	—
2031	—	—	—	—	%	—	—	—	—
2032	—	—	—	—	%	—	—	—	—
2033	—	—	—	—	%	—	—	—	—
Thereafter	1	22,648	22,648	100.0	%	18,457,620	18,457,620	814.98	511.93
	1	22,648	22,648	100.0	%	$18,457,620	$18,457,620	$814.98	$511.93
Vacancy (5)		—							$0.00
Grand Total		22,648							$511.93

Other Retail





2024 (4)	—	—	—	—	%	$—	$—	$—	$—






2025	2	14,197	14,197	3.0	%	2,504,041	2,504,041	176.38	174.38
2026	4	10,104	10,104	2.1	%	1,131,476	1,131,476	111.98	91.11
2027	5	28,822	27,766	6.1	%	4,777,754	4,597,885	165.77	103.23
2028	4	11,393	9,526	2.4	%	1,961,000	1,674,364	172.12	127.98
2029	4	27,702	27,702	5.9	%	2,507,264	2,507,264	90.51	86.47
2030	5	44,135	44,135	9.3	%	6,450,497	6,450,497	146.15	109.50
2031	3	7,343	7,343	1.6	%	1,154,229	1,154,229	157.19	116.74
2032	7	71,237	71,237	15.1	%	6,036,471	6,036,471	84.74	73.43
2033	7	63,848	63,848	13.5	%	8,425,619	8,425,619	131.96	115.56
Thereafter	27	194,299	179,826	41.0	%	17,457,620	16,079,447	89.85	71.56
	68	473,080	455,684	100.0	%	$52,405,971	$50,561,293	$110.78	$89.69
Vacancy (5)		42,713							$98.04
Grand Total		515,793							$90.38

Alternative Strategy Portfolio





2024 (4)	—	—	—	—	%	$—	$—	$—	$—






2025	—	—	—	—	%	—	—	—	—
2026	—	—	—	—	%	—	—	—	—
2027	—	—	—	—	%	—	—	—	—
2028	—	—	—	—	%	—	—	—	—
2029	—	—	—	—	%	—	—	—	—
2030	—	—	—	—	%	—	—	—	—
2031	—	—	—	—	%	—	—	—	—
2032	—	—	—	—	%	—	—	—	—
2033	1	7,944	7,944	100.0	%	1,504,752	1,504,752	189.42	394.65
Thereafter	—	—	—	—	%	—	—	—	—
	1	7,944	7,944	100.0	%	$1,504,752	$1,504,752	$189.42	$394.65
Vacancy (5)		—							$0.00
Grand Total		7,944							$394.65

(1) Tenants may have multiple leases.
(2) Represents in place annualized contractual cash rent allocated by year of expiration.
(3) Management's estimate of average asking rents for currently occupied space as of September 30, 2024. Taking rents are typically lower than asking rents and may vary from property to property.
(4) Includes month to month holdover tenants that expired prior to September 30, 2024.
(5) Includes square footage of leases signed but not yet commenced.


Supplemental Information			42			Third Quarter 2024



LEASE EXPIRATIONS Retail Leases Within Operating, Development / Redevelopment and Alternative Strategy Portfolio Properties Unconsolidated JV's Unaudited


Year of Lease Expiration	Number of Expiring Leases (1)	Rentable Square Footage of Expiring Leases	SLG Share Rentable Square Footage of Expiring Leases	Percentage of Total Sq. Ft.		Annualized Contractual Cash Rent of Expiring Leases	SLG Share Annualized Contractual Cash Rent of Expiring Leases	Annualized Contractual Cash Rent Per Square Foot of Expiring Leases $/psf (2)	Current Weighted Average Asking Rent $/psf (3)
High Street Retail





2024 (4)	—	—	—	—	%	$—	$—	$—	$—






2025	—	—	—	—	%	—	—	—	—

2026	—	—	—	—	%	—	—	—	—
2027	—	—	—	—	%	—	—	—	—
2028	—	—	—	—	%	—	—	—	—
2029	—	—	—	—	%	—	—	—	—
2030	—	—	—	—	%	—	—	—	—
2031	—	—	—	—	%	—	—	—	—
2032	—	—	—	—	%	—	—	—	—
2033	—	—	—	—	%	—	—	—	—
Thereafter	1	13,092	4,748	100.0	%	2,799,996	1,015,559	213.87	160.40
	1	13,092	4,748	100.0	%	$2,799,996	$1,015,559	$213.87	$160.40
Vacancy (5)		—							$0.00
Grand Total		13,092							$160.40

Other Retail





2024 (4)	—	—	—	—	%	$—	$—	$—	$—






2025	—	—	—	—	%	—	—	—	—

2026	3	20,560	11,166	5.1	%	10,607,019	5,959,229	515.91	346.81
2027	3	19,225	10,145	4.8	%	11,491,956	6,480,028	597.76	460.98
2028	3	22,872	12,064	5.7	%	3,388,165	1,843,518	148.14	160.14
2029	4	61,472	31,449	15.4	%	6,310,267	2,971,566	102.65	83.38
2030	2	11,970	6,811	3.0	%	6,927,611	3,941,811	578.75	304.49
2031	4	13,215	6,905	3.3	%	1,532,159	845,292	115.94	99.57
2032	2	18,864	9,499	4.7	%	1,303,659	657,900	69.11	114.93
2033	2	4,721	2,429	1.2	%	571,900	293,155	121.14	148.09
Thereafter	15	227,040	132,835	56.8	%	13,028,684	8,121,432	57.38	65.49
	38	399,939	223,303	100.0	%	$55,161,420	$31,113,931	$137.92	$118.71
Vacancy (5)		40,935							$185.33
Grand Total		440,874							$124.90

Alternative Strategy Portfolio





2024 (4)	2	17,758	5,518	10.6	%	$1,979,574	$616,664	$111.48	$148.83






2025	—	—	—	—	%	—	—	—	—

2026	3	17,869	6,381	10.6	%	7,730,567	3,176,104	432.62	261.69
2027	1	1,685	420	1.0	%	445,771	111,220	264.55	175.00
2028	1	1,819	454	1.1	%	208,176	51,940	114.45	99.91
2029	2	1,425	937	0.8	%	613,621	508,937	430.61	370.00
2030	—	—	—	—	%	—	—	—	—
2031	2	23,536	21,077	14.0	%	7,358,974	6,856,521	312.67	290.32
2032	—	—	—	—	%	—	—	—	—
2033	1	16,343	15,526	9.7	%	2,003,864	1,903,671	122.61	122.38
Thereafter	4	87,456	41,785	52.2	%	45,792,607	22,432,416	523.61	459.16
	16	167,891	92,098	100.0	%	$66,133,154	$35,657,473	$393.91	$341.37
Vacancy (5)		112,390							$366.93
Grand Total		280,281							$351.62

(1) Tenants may have multiple leases.
(2) Represents in place annualized contractual cash rent allocated by year of expiration.
(3) Management's estimate of average asking rents for currently occupied space as of September 30, 2024. Taking rents are typically lower than asking rents and may vary from property to property.
(4) Includes month to month holdover tenants that expired prior to September 30, 2024.
(5) Includes square footage of leases signed but not yet commenced.


Supplemental Information			43			Third Quarter 2024



SUMMARY OF REAL ESTATE ACQUISITION ACTIVITY Manhattan Office Unaudited (Dollars in Thousands)


						Gross Asset		Occupancy (%)
	Property	Submarket	Interest Acquired	Type of Ownership	Net Rentable SF	Valuation ($'s)		at acquisition	9/30/2024
2001 - 2024 Acquisitions
Jun-01	317 Madison Avenue	Grand Central	100.0%	Fee Interest	450,000	$	105,600	95.0	N/A
Sep-01	1250 Broadway	Penn Station	49.9	Fee Interest	670,000	126,500		97.7	N/A
May-02	1515 Broadway	Times Square	55.0	Fee Interest	1,750,000	483,500		98.0	99.7
Feb-03	220 East 42nd Street	Grand Central	100.0	Fee Interest	1,135,000	265,000		91.9	89.5
Mar-03	125 Broad Street	Downtown	100.0	Fee Interest	525,000	92,000		100.0	N/A
Oct-03	461 Fifth Avenue	Midtown	100.0	Leasehold Interest	200,000	60,900		93.9	92.9
Dec-03	1221 Avenue of the Americas	Rockefeller Center	45.0	Fee Interest	2,550,000	1,000,000		98.8	N/A
Mar-04	19 West 44th Street	Midtown	35.0	Fee Interest	292,000	67,000		86.0	N/A
Jul-04	750 Third Avenue	Grand Central	100.0	Fee Interest	779,000	255,000		100.0	10.3
Jul-04	485 Lexington Avenue	Grand Central	30.0	Fee Interest	921,000	225,000		100.0	77.0
Oct-04	625 Madison Avenue	Plaza District	100.0	Leasehold Interest	563,000	231,500		68.0	N/A
Feb-05	28 West 44th Street	Midtown	100.0	Fee Interest	359,000	105,000		87.0	N/A
Apr-05	1 Madison Avenue	Park Avenue South	55.0	Fee Interest	1,177,000	803,000		96.0	N/A
Apr-05	5 Madison Avenue Clock Tower	Park Avenue South	100.0	Fee Interest	267,000	115,000		N/A	N/A
Jun-05	19 West 44th Street	Midtown	65.0	Fee Interest	—	91,200		92.2	N/A
Mar-06	521 Fifth Avenue	Midtown	100.0	Leasehold Interest	460,000	210,000		97.0	N/A
Jun-06	609 Fifth Avenue	Midtown	100.0	Fee Interest	160,000	182,000		98.5	N/A
Dec-06	485 Lexington Avenue	Grand Central	70.0	Fee Interest	—	578,000		90.5	77.0
Dec-06	800 Third Avenue	Grand Central North	43.0	Fee Interest	526,000	285,000		96.9	89.2
Jan-07	Reckson - NYC Portfolio	Various	100.0	Fee Interests / Leasehold Interest	5,612,000	3,679,530		98.3	78.8
Apr-07	331 Madison Avenue	Grand Central	100.0	Fee Interest	114,900	73,000		97.6	N/A
Apr-07	1745 Broadway	Midtown	32.3	Leasehold Interest	674,000	520,000		100.0	N/A
Jun-07	333 West 34th Street	Penn Station	100.0	Fee Interest	345,400	183,000		100.0	N/A
Aug-07	1 Madison Avenue	Park Avenue South	45.0	Fee Interest	1,177,000	1,000,000		99.8	N/A
Dec-07	388 & 390 Greenwich Street	Downtown	50.6	Fee Interest	2,635,000	1,575,000		100.0	N/A
Jan-10	100 Church Street	Downtown	100.0	Fee Interest	1,047,500	181,600		41.3	93.1
May-10	600 Lexington Avenue	Grand Central North	55.0	Fee Interest	303,515	193,000		93.6	N/A
Aug-10	125 Park Avenue	Grand Central	100.0	Fee Interest	604,245	330,000		99.1	100.0
Jan-11	521 Fifth Avenue	Midtown	49.9	Leasehold Interest	460,000	245,700		80.7	N/A
Apr-11	1515 Broadway	Times Square	45.0	Fee Interest	1,750,000	1,210,000		98.5	99.7
May-11	110 East 42nd Street	Grand Central	100.0	Fee Interest	205,000	85,570		72.6	N/A
May-11	280 Park Avenue	Park Avenue	49.5	Fee Interest	1,219,158	1,110,000		78.2	87.9
Nov-11	180 Maiden Lane	Financial East	49.9	Fee Interest	1,090,000	425,680		97.7	N/A
Nov-11	51 East 42nd Street	Grand Central	100.0	Fee Interest	142,000	80,000		95.5	N/A
Feb-12	10 East 53rd Street	Plaza District	55.0	Fee Interest	354,300	252,500		91.9	98.1
Jun-12	304 Park Avenue South	Midtown South	100.0	Fee Interest	215,000	135,000		95.8	100.0
Sep-12	641 Sixth Avenue	Midtown South	100.0	Fee Interest	163,000	90,000		92.1	N/A
Dec-12	315 West 36th Street	Times Square South	35.5	Fee Interest	147,619	46,000		99.2	N/A
May-14	388 & 390 Greenwich Street	Downtown	49.4	Fee Interest	2,635,000	1,585,000		100.0	N/A
Jul-15	110 Greene Street	Soho	90.0	Fee Interest	223,600	255,000		84.0	91.3
Aug-15	30 East 40th Street	Grand Central South	60.0	Leasehold Interest	69,446	4,650		100.0	N/A
Aug-15	11 Madison Avenue	Park Avenue South	100.0	Fee Interest	2,314,000	2,285,000		71.6	96.1
Dec-15	600 Lexington Avenue	Grand Central North	45.0	Fee Interest	303,515	284,000		95.5	N/A
Oct-17	Worldwide Plaza	Westside	24.4	Fee Interest	2,048,725	1,725,000		100.0	63.3
May-18	2 Herald Square	Herald Square	100.0	Leasehold Interest	369,000	266,000		81.6	43.9
May-19	110 Greene Street	Soho	10.0	Fee Interest	223,600	256,500		93.3	91.3
Jul-20	885 Third Avenue	Midtown / Plaza District	100.0	Fee / Leasehold Interest	625,300	387,932		94.8	73.1
Oct-20	590 Fifth Avenue	Midtown	100.0	Fee Interest	103,300	107,200		90.0	N/A
Jun-22	450 Park Avenue	Park Avenue	25.1	Fee Interest	337,000	445,000		79.8	89.3
Sep-22	245 Park Avenue	Park Avenue	100.0	Fee Interest	1,782,793	1,960,000		91.8	79.0









					42,078,916	$	26,258,062


Supplemental Information			44			Third Quarter 2024



SUMMARY OF REAL ESTATE DISPOSITION ACTIVITY Manhattan Office Unaudited (Dollars in Thousands)


						Gross Asset Valuation
	Property	Submarket	Interest Sold	Type of Ownership	Net Rentable SF	($'s)		($'s/SF)
2001 - 2024 Dispositions
Jan-01	633 Third Ave	Grand Central North	100.0%	Fee Interest	40,623	$	13,250	$	326
May-01	1 Park Ave	Grand Central South	45.0	Fee Interest	913,000	233,900		256
Jun-01	1412 Broadway	Times Square South	100.0	Fee Interest	389,000	90,700		233
Jul-01	110 East 42nd Street	Grand Central	100.0	Fee Interest	69,700	14,500		208
Sep-01	1250 Broadway	Penn Station	45.0	Fee Interest	670,000	126,500		189
Jun-02	469 Seventh Avenue	Penn Station	100.0	Fee Interest	253,000	53,100		210
Mar-03	50 West 23rd Street	Chelsea	100.0	Fee Interest	333,000	66,000		198
Jul-03	1370 Broadway	Times Square South	100.0	Fee Interest	255,000	58,500		229
Dec-03	321 West 44th Street	Times Square	100.0	Fee Interest	203,000	35,000		172
May-04	1 Park Avenue	Grand Central South	75.0	Fee Interest	913,000	318,500		349
Oct-04	17 Battery Place North	Financial	100.0	Fee Interest	419,000	70,000		167
Nov-04	1466 Broadway	Times Square	100.0	Fee Interest	289,000	160,000		554
Apr-05	1414 Avenue of the Americas	Plaza District	100.0	Fee Interest	111,000	60,500		545
Aug-05	180 Madison Avenue	Grand Central	100.0	Fee Interest	265,000	92,700		350
Jul-06	286 & 290 Madison Avenue	Grand Central	100.0	Fee Interest	149,000	63,000		423
Aug-06	1140 Avenue of the Americas	Rockefeller Center	100.0	Leasehold Interest	191,000	97,500		510
Dec-06	521 Fifth Avenue	Grand Central	50.0	Leasehold Interest	460,000	240,000		522
Mar-07	1 Park Avenue	Grand Central South	100.0	Fee Interest	913,000	550,000		602
Mar-07	70 West 36th Street	Garment	100.0	Fee Interest	151,000	61,500		407
Jun-07	110 East 42nd Street	Grand Central North	100.0	Fee Interest	181,000	111,500		616
Jun-07	125 Broad Street	Downtown	100.0	Fee Interest	525,000	273,000		520
Jun-07	5 Madison Clock Tower	Park Avenue South	100.0	Fee Interest	267,000	200,000		749
Jul-07	292 Madison Avenue	Grand Central South	100.0	Fee Interest	187,000	140,000		749
Jul-07	1372 Broadway	Penn Station/Garment	85.0	Fee Interest	508,000	335,000		659
Nov-07	470 Park Avenue South	Park Avenue South/Flatiron	100.0	Fee Interest	260,000	157,000		604
Jan-08	440 Ninth Avenue	Penn Station	100.0	Fee Interest	339,000	160,000		472
May-08	1250 Broadway	Penn Station	100.0	Fee Interest	670,000	310,000		463
Oct-08	1372 Broadway	Penn Station/Garment	15.0	Fee Interest	508,000	274,000		539
May-10	1221 Avenue of the Americas	Rockefeller Center	45.0	Fee Interest	2,550,000	1,280,000		502
Sep-10	19 West 44th Street	Midtown	100.0	Fee Interest	292,000	123,150		422
May-11	28 West 44th Street	Midtown	100.0	Fee Interest	359,000	161,000		448
Aug-13	333 West 34th Street	Penn Station	100.0	Fee Interest	345,400	220,250		638
May-14	673 First Avenue	Grand Central South	100.0	Leasehold Interest	422,000	145,000		344
Sep-15	120 West 45th Street	Midtown	100.0	Fee Interest	440,000	365,000		830
Sep-15	315 West 36th Street	Times Square South	100.0	Fee Interest	148,000	115,000		777
Jun-16	388 & 390 Greenwich Street	Downtown	100.0	Fee Interest	2,635,000	2,000,000		759
Aug-16	11 Madison Avenue	Park Avenue South	40.0	Fee Interest	2,314,000	2,600,000		1,124
Nov-17	1515 Broadway	Times Square	30.0	Fee Interest	1,750,000	1,950,000		1,114
Jan-18	600 Lexington Avenue	Grand Central North	100.0	Fee Interest	303,515	305,000		1,005
Feb-18	1515 Broadway	Times Square	13.0	Fee Interest	1,750,000	1,950,000		1,114
May-18	1745 Broadway	Midtown	56.9	Leasehold Interest	674,000	633,000		939
Nov-18	3 Columbus Circle	Columbus Circle	48.9	Fee Interest	530,981	851,000		1,603
Nov-18	2 Herald Square	Herald Square	49.0	Leasehold Interest	369,000	265,000		718
May-19	521 Fifth Avenue	Grand Central	50.5	Fee Interest	460,000	381,000		828
Dec-20	30 East 40th Street	Grand Central South	60.0	Leasehold Interest	69,446	5,200		75
Mar-21	55 West 46th Street - Tower 46	Midtown	25.0	Fee Interest	347,000	275,000		793
Jun-21	635 - 641 Sixth Avenue	Midtown South	100.0	Fee Interest	267,000	325,000		1,217
Jul-21	220 East 42nd Street	Grand Central	49.0	Fee Interest	1,135,000	783,500		690
Oct-21	590 Fifth Avenue	Midtown	100.0	Fee Interest	103,300	103,000		997
Dec-21	110 East 42nd Street	Grand Central	100.0	Fee Interest	215,400	117,075		544
Jun-23	245 Park Avenue	Park Avenue	49.9	Fee Interest	1,782,793	1,995,000		1,119










					29,695,158	$	21,313,825	$	718


Supplemental Information			45			Third Quarter 2024



SUMMARY OF REAL ESTATE ACQUISITION ACTIVITY Retail, Residential, Development / Redevelopment and Land Unaudited (Dollars in Thousands)

Interest

Gross Asset

Occupancy (%)

Property

Type of Property

Submarket

Acquired

Type of Ownership

Net Rentable SF

Valuation ($'s)

at acquisition

9/30/2024

2005 - 2023 Acquisitions

Jul-05

1551-1555 Broadway

Retail

Times Square

10.0%

Fee Interest

25,600

85,000

N/A

Jul-05

21 West 34th Street

Retail

Herald Square

50.0

Fee Interest

30,100

17,500

N/A

Sep-05

141 Fifth Avenue

Retail

Flatiron

50.0

Fee Interest

21,500

13,250

N/A

Nov-05

1604 Broadway

Retail

Times Square

63.0

Leasehold Interest

29,876

4,400

17.2

N/A

Dec-05

379 West Broadway

Retail

Cast Iron/Soho

45.0

Leasehold Interest

62,006

19,750

100.0

N/A

Jan-06

25-29 West 34th Street

Retail

Herald Square/Penn Station

50.0

Fee Interest

41,000

30,000

55.8

N/A

Sep-06

717 Fifth Avenue

Retail

Midtown/Plaza District

32.8

Fee Interest

119,550

251,900

63.1

N/A

Aug-07

180 Broadway

Development

Lower Manhattan

50.0

Fee Interest

24,300

13,600

85.2

N/A

Apr-07

Two Herald Square

Land

Herald Square

55.0

Fee Interest

N/A

225,000

N/A

Jul-07

885 Third Avenue

Land

Midtown / Plaza District

55.0

Fee Interest

N/A

317,000

N/A

Feb-08

182 Broadway

Development

Lower Manhattan

50.0

Fee Interest

46,280

30,000

83.8

N/A

Nov-10

Williamsburg Terrace

Retail

Brooklyn, New York

100.0

Fee Interest

52,000

18,000

100.0

N/A

Dec-10

11 West 34th Street

Retail

Herald Square/Penn Station

30.0

Fee Interest

17,150

10,800

100.0

Dec-10

Two Herald Square

Land

Herald Square

45.0

Fee Interest

354,400

247,500

N/A

Dec-10

885 Third Avenue

Land

Midtown / Plaza District

45.0

Fee Interest

607,000

352,000

N/A

Dec-10

292 Madison Avenue

Land

Grand Central South

100.0

Fee Interest

203,800

78,300

N/A

Jan-11

3 Columbus Circle

Redevelopment

Columbus Circle

48.9

Fee Interest

741,500

500,000

20.1

N/A

Aug-11

1552-1560 Broadway

Retail

Times Square

50.0

Fee Interest

35,897

136,550

59.7

12.6

Sep-11

747 Madison Avenue

Retail

Plaza District

33.3

Fee Interest

10,000

66,250

100.0

N/A

Jan-12

DFR Residential and Retail Portfolio

Residential

Plaza District, Upper East Side

80.0

Fee Interests / Leasehold Interest

489,882

193,000

95.1

N/A

Jan-12

724 Fifth Avenue

Retail

Plaza District

50.0

Fee Interest

65,010

223,000

92.9

N/A

Jul-12

West Coast Office Portfolio

West Coast

27.6

Fee Interest

4,473,603

880,104

76.3

N/A

Aug-12

33 Beekman Street

Development

Downtown

45.9

Fee Interest

163,500

31,160

—

N/A

Sep-12

635 Sixth Avenue

Redevelopment

Midtown South

100.0

Fee Interest

104,000

83,000

—

N/A

Oct-12

1080 Amsterdam

Redevelopment

Upper West Side

87.5

Leasehold Interest

82,250

—

2.2

N/A

Dec-12

21 East 66th Street

Retail

Plaza District

32.3

Fee Interest

16,736

75,000

100.0

N/A

Dec-12

985-987 Third Avenue

Redevelopment

Upper East Side

100.0

Fee Interest

13,678

18,000

—

N/A

Dec-12

131-137 Spring Street

Retail

Soho

100.0

Fee Interest

68,342

122,300

100.0

N/A

Mar-13

248-252 Bedford Avenue

Residential

Brooklyn, New York

90.0

Fee Interest

66,611

54,900

—

N/A

Nov-13

650 Fifth Avenue

Retail

Plaza District

50.0

Leasehold Interest

32,324

—

63.6

100.0

Nov-13

315 West 33rd Street - The Olivia

Retail / Residential

Penn Station

100.0

Fee Interest

492,987

386,775

96.6

N/A

Nov-13

562, 570 & 574 Fifth Avenue

Redevelopment

Plaza District

100.0

Fee Interest

66,962

146,222

74.6

N/A

Jul-14

719 Seventh Avenue

Retail

Times Square

75.0

Fee Interest

6,000

41,149

100.0

N/A

Jul-14

115 Spring Street

Retail

Soho

100.0

Fee Interest

5,218

52,000

100.0

Jul-14

752-760 Madison Avenue

Retail

Plaza District

100.0

Fee Interest

21,124

282,415

100.0

Sep-14

121 Greene Street

Retail

Soho

50.0

Fee Interest

7,131

27,400

100.0

N/A

Sep-14

635 Madison Avenue

Land

Plaza District

100.0

Fee Interest

176,530

145,000

N/A

Oct-14

102 Greene Street

Retail

Soho

100.0

Fee Interest

9,200

32,250

100.0

N/A

Oct-14

175-225 Third Street

Redevelopment

Brooklyn, New York

95.0

Fee Interest

—

72,500

—

N/A

Nov-14

55 West 46th Street - Tower 46

Redevelopment

Midtown

100.0

Fee Interest

347,000

295,000

—

N/A

Feb-15

Stonehenge Portfolio

Residential

Various

Fee Interest

2,589,184

40,000

96.5

N/A

Mar-15

1640 Flatbush Avenue

Redevelopment

Brooklyn, New York

100.0

Fee Interest

1,000

6,799

100.0

N/A

Jun-15

Upper East Side Residential

Residential

Upper East Side Residential

90.0

Fee Interest

27,000

50,074

96.4

N/A

Aug-15

187 Broadway & 5-7 Dey Street

Retail

Lower Manhattan

100.0

Fee Interest

73,600

63,690

90.5

N/A

Mar-16

183 Broadway

Retail

Lower Manhattan

100.0

Fee Interest

9,100

28,500

58.3

N/A

Apr-16

605 West 42nd Street - Sky

Residential

Midtown West

20.0

Fee Interest

927,358

759,046

—

N/A

Jul-18

1231 Third Avenue

Residential

Upper East Side

100.0

Fee Interest

38,992

55,355

100.0

N/A

Oct-18

133 Greene Street

Retail

Soho

100.0

Fee Interest

6,425

30,999

100.0

N/A

Dec-18

712 Madison Avenue

Retail

Plaza District

100.0

Fee Interest

6,600

57,996

100.0

N/A

Apr-19

106 Spring Street

Redevelopment

Soho

100.0

Fee Interest

5,928

80,150

—

N/A

May-19

410 Tenth Avenue

Redevelopment

Hudson Yards

70.9

Fee Interest

638,000

440,000

76.3

N/A

Jan-20

762 Madison Avenue

Redevelopment

Plaza District

10.0

Fee Interest

6,109

29,250

55.1

N/A

Jan-20

707 Eleventh Avenue

Redevelopment

Midtown West

100.0

Fee Interest

159,720

90,000

54.3

N/A

Jan-20

126 Nassau Street

Development

Lower Manhattan

100.0

Leasehold Interest

98,412

—

87.3

100.0

Oct-20

85 Fifth Avenue

Retail

Midtown South

36.3

Fee Interest

12,946

59,000

100.0

Sep-21

1591-1597 Broadway

Land

Times Square

100.0

Fee Interest

7,684

121,000

N/A

Sep-21

690 Madison Avenue

Retail

Plaza District

100.0

Fee Interest

7,848

72,221

100.0

Sep-22

5 Times Square

Redevelopment

Times Square

31.6

Leasehold Interest

1,131,735

1,096,714

22.5

23.3

Sep-23

625 Madison Avenue

Land

Plaza District

90.4

Fee Interest

563,000

620,245

N/A

15,440,688

9,279,014

2024 Acquisitions

Jan-24

2 Herald Square

Redevelopment

Herald Square

44.0%

Leasehold Interest

369,000

120,000

43.9

Mar-24

719 Seventh Avenue

Retail

Times Square

25.0

Fee Interest

10,040

76,500

—

N/A

379,040

196,500


Supplemental Information			46			Third Quarter 2024



SUMMARY OF REAL ESTATE DISPOSITION ACTIVITY Retail, Residential, Development / Redevelopment, Land and Alternative Strategy Portfolio Unaudited (Dollars in Thousands)


				Interest			Gross Asset Valuation
	Property	Type of Property	Submarket	Sold	Type of Ownership	Net Rentable SF	($'s)		($'s/SF)
2011 - 2023 Dispositions
Sep-11	1551-1555 Broadway	Retail	Times Square	10.0%	Fee Interest	25,600	$	276,757	$	10,811
Feb-12	141 Fifth Avenue	Retail	Flatiron	100.0	Fee Interest	13,000	46,000		3,538
Feb-12	292 Madison Avenue	Land	Grand Central South	100.0	Fee Interest	203,800	85,000		417
Apr-12	379 West Broadway	Retail	Cast Iron/Soho	100.0	Leasehold Interest	62,006	48,500		782
Jun-12	717 Fifth Avenue	Retail	Midtown/Plaza District	50.0	Fee Interest	119,550	617,584		5,166
Sep-12	3 Columbus Circle	Redevelopment	Columbus Circle	29.0	Fee Interest	214,372	143,600		670
Feb-13	44 West 55th Street	Retail	Plaza District	100.0	Fee Interest	8,557	6,250		730
Jun-13	West Coast Office Portfolio	West Coast	Los Angeles, California	100.0	Fee Interest	406,740	111,925		275
Aug-13	West Coast Office Portfolio	West Coast	Fountain Valley, California	100.0	Fee Interest	302,037	66,994		222
Sep-13	West Coast Office Portfolio	West Coast	San Diego, California	100.0	Fee Interest	110,511	45,400		411
Dec-13	27-29 West 34th Street	Retail	Herald Square/Penn Station	100.0	Fee Interest	15,600	70,052		4,491
Jan-14	21-25 West 34th Street	Retail	Herald Square/Penn Station	100.0	Fee Interest	30,100	114,948		3,819
Mar-14	West Coast Office Portfolio	West Coast		100.0	Fee Interest	3,654,315	756,000		207
May-14	747 Madison Avenue	Retail	Plaza District	100.0	Fee Interest	10,000	160,000		16,000
Jul-14	985-987 Third Avenue	Redevelopment	Upper East Side	100.0	Fee Interest	13,678	68,700		5,023
Sep-14	180-182 Broadway	Redevelopment	Lower Manhattan	100.0	Fee Interest	156,086	222,500		1,425
Nov-14	2 Herald Square	Land	Herald Square/Penn Station	100.0	Fee Interest	354,400	365,000		1,030
Nov-14	55 West 46th Street - Tower 46	Redevelopment	Midtown	75.0	Fee Interest	347,000	295,000		850
Jan-15	180 Maiden Lane	Redevelopment	Financial East	100.0	Fee Interest	1,090,000	470,000		431
Aug-15	131-137 Spring Street	Retail	Soho	80.0	Fee Interest	68,342	277,750		4,064
Dec-15	570 & 574 Fifth Avenue	Redevelopment	Plaza District	100.0	Fee Interest	24,327	125,400		5,155
Feb-16	248-252 Bedford Avenue	Residential	Brooklyn, New York	90.0	Fee Interest	66,611	55,000		826
Feb-16	885 Third Avenue	Land	Midtown / Plaza District	100.0	Fee Interest	607,000	453,000		746
May-16	33 Beekman Street	Redevelopment	Downtown	100.0	Fee Interest	163,500	196,000		1,199
Oct-16	400 East 57th Street	Residential	Upper East Side	49.0	Fee Interest	290,482	170,000		585
Apr-17	102 Greene Street	Retail	Soho	90.0	Fee Interest	9,200	43,500		4,728
Sep-17	102 Greene Street	Retail	Soho	10.0	Fee Interest	9,200	43,500		4,728
Apr-18	175-225 Third Street	Redevelopment	Brooklyn, New York	95.0	Fee Interest	—	115,000		—
Jun-18	635 Madison Avenue	Land	Plaza District	100.0	Fee Interest	176,530	153,000		867
Jul-18	724 Fifth Avenue	Retail	Plaza District	50.0	Fee Interest	65,010	365,000		5,615
Oct-18	72nd Street Assemblage & 1231 Third Avenue	Residential	Upper East Side	Various	Fee Interest	—	143,800		—
Jan-19	131-137 Spring Street	Retail	Soho	20.0	Fee Interest	68,342	216,000		3,161
Aug-19	115 Spring Street	Retail	Soho	49.0	Fee Interest	5,218	66,050		12,658
Dec-19	562 Fifth Avenue	Redevelopment	Plaza District	100.0	Fee Interest	42,635	52,393		1,229
Dec-19	1640 Flatbush Avenue	Redevelopment	Brooklyn, New York	100.0	Fee Interest	1,000	16,150		16,150
Mar-20	315 West 33rd Street - The Olivia	Retail / Residential	Penn Station	100.0	Fee Interest	492,987	446,500		906
May-20	609 Fifth Avenue - Retail Condominium	Retail	Rockefeller Center	100.0	Fee Interest	21,437	168,000		7,837
Sep-20	400 East 58th Street	Residential	Upper East Side	90.0	Fee Interest	140,000	62,000		443
Dec-20	410 Tenth Avenue	Redevelopment	Hudson Yards	70.9	Fee Interest	638,000	952,499		1,493
Dec-20	Williamsburg Terrace	Retail	Brooklyn, New York	100.0	Fee Interest	52,000	32,000		615
Jan-21	712 Madison Avenue	Retail	Plaza District	100.0	Fee Interest	6,600	43,000		6,515
Feb-21	133 Greene Street	Retail	Soho	100.0	Fee Interest	6,425	15,796		2,459
Mar-21	106 Spring Street	Redevelopment	Soho	100.0	Fee Interest	5,928	34,024		5,740
Jun-21	605 West 42nd Street - Sky	Residential	Westside	20.0	Fee Interest	927,358	858,100		925
Sep-21	400 East 57th Street	Residential	Upper East Side	41.0	Fee Interest	290,482	133,500		460
Feb-22	707 Eleventh Avenue	Redevelopment	Midtown West	100.0	Fee Interest	159,720	95,000		595
Apr-22	1080 Amsterdam	Residential	Upper West Side	92.5	Leasehold Interest	82,250	42,650		519
May-22	1591-1597 Broadway	Land	Times Square	100.0	Fee Interest	7,684	121,000		15,747
Jun-22	609 Fifth Avenue	Redevelopment	Rockefeller Center	100.0	Fee Interest	138,563	100,500		725
Dec-22	885 Third Avenue - Condominium	Redevelopment	Midtown / Plaza District	100.0	Fee / Leasehold Interest	414,317	300,400		725
Feb-23	121 Greene Street	Retail	Soho	50.0	Fee Interest	7,131	14,000		1,963
Dec-23	21 East 66th Street	Retail	Plaza District	32.3	Fee Interest	13,069	40,575		3,105








						12,138,700	$	9,921,297	$	817
2024 Dispositions
Jan-24	717 Fifth Avenue	Retail	Midtown / Plaza District	10.9%	Fee Interest	119,550	$	963,000	$	8,055
May-24	625 Madison Avenue	Redevelopment	Plaza District	90.4	Fee Interest	563,000	634,600		1,127
Jun-24	719 Seventh Avenue	Retail	Times Square	100.0	Fee Interest	10,040	30,500		3,038








						692,590	$	1,628,100	$	2,351


Supplemental Information			47			Third Quarter 2024



SUMMARY OF REAL ESTATE ACQUISITION/DISPOSITION ACTIVITY Suburban Unaudited (Dollars in Thousands)


						Gross Asset		Occupancy (%)
	Property	Submarket	Interest Acquired	Type of Ownership	Net Rentable SF	Valuation ($'s)		at acquisition	9/30/2024
2007 - 2024 Acquisitions
Jan-07	300 Main Street	Stamford, Connecticut	100.0%	Fee Interest	130,000	$	15,000	92.5	N/A
Jan-07	399 Knollwood Road	White Plains, New York	100.0	Fee Interest	145,000	31,600		96.6	N/A
Jan-07	Reckson - Connecticut Portfolio	Stamford, Connecticut	100.0	Fee Interests / Leasehold Interest	1,369,800	490,750		88.9	72.3
Jan-07	Reckson - Westchester Portfolio	Westchester	100.0	Fee Interests / Leasehold Interest	2,346,100	570,190		90.6	N/A
Apr-07	Jericho Plaza	Jericho, New York	20.3	Fee Interest	640,000	210,000		98.4	N/A
Jun-07	1010 Washington Boulevard	Stamford, Connecticut	100.0	Fee Interest	143,400	38,000		95.6	N/A
Jun-07	500 West Putnam Avenue	Greenwich, Connecticut	100.0	Fee Interest	121,500	56,000		94.4	N/A
Jul-07	16 Court Street	Brooklyn, New York	35.0	Fee Interest	317,600	107,500		80.6	N/A
Aug-07	150 Grand Street	White Plains, New York	100.0	Fee Interest	85,000	6,700		52.9	N/A
Sep-07	The Meadows	Rutherford, New Jersey	25.0	Fee Interest	582,100	111,500		81.3	N/A
Jan-08	125 Chubb Way	Lyndhurst, New Jersey	100.0	Fee Interest	278,000	29,364		—	N/A
Dec-10	7 Renaissance Square	White Plains, New York	50.0	Fee Interest	65,641	4,000		—	N/A
Apr-13	16 Court Street	Brooklyn, New York	49.0	Fee Interest	317,600	96,200		84.9	N/A





















					6,541,741	$	1,766,804

						Gross Asset
	Property	Submarket	Interest Sold	Type of Ownership	Net Rentable SF	Valuation ($'s)			Price ($'s/SF)
2008 - 2023 Dispositions
Oct-08	100 & 120 White Plains Road	Tarrytown, New York	10,000.0%	Fee Interest	211,000	$	48,000		$	227
Jan-09	55 Corporate Drive	Bridgewater, New Jersey	100.0	Fee Interest	670,000	230,000			343
Aug-09	399 Knollwood Road	White Plains, New York	100.0	Fee Interest	145,000	20,767			143
Jul-12	One Court Square	Long Island City, New York	100.0	Fee Interest	1,402,000	481,099			343
Sep-13	300 Main Street	Stamford, Connecticut	100.0	Fee Interest	130,000	13,500			104
Aug-15	The Meadows	Rutherford, New Jersey	100.0	Fee Interest	582,100	121,100			208
Dec-15	140 Grand Street	White Plains, New York	100.0	Fee Interest	130,100	22,400			172
Dec-15	150 Grand Street	White Plains, New York	100.0	Fee Interest	85,000	9,600			113
Mar-16	7 Renaissance Square	White Plains, New York	100.0	Fee Interest	65,641	21,000			320
Jul-16	500 West Putnam Avenue	Greenwich, Connecticut	100.0	Fee Interest	121,500	41,000			337
Apr-17	520 White Plains Road	Tarrytown, New York	100.0	Fee Interest	180,000	21,000			117
Jul-17	680 Washington Avenue	Stamford, Connecticut	51.0	Fee Interest	133,000	42,011			316
Jul-17	750 Washington Avenue	Stamford, Connecticut	51.0	Fee Interest	192,000	53,745			280
Oct-17	16 Court Street	Brooklyn, New York	100.0	Fee Interest	317,600	171,000			538
Oct-17	125 Chubb Way	Lyndhurst, New Jersey	100.0	Fee Interest	278,000	29,500			106
May-18	115-117 Stevens Avenue	Valhalla, New York	100.0	Fee Interest	178,000	12,000			67
Jun-18	Jericho Plaza	Jericho, New York	11.7	Fee Interest	640,000	117,400			183
Jul-18	1-6 International Drive	Rye Brook, New York	100.0	Fee Interest	540,000	55,000			102
Nov-19	1010 Washington Boulevard	Stamford, Connecticut	100.0	Fee Interest	143,400	23,100			161
Dec-19	100 Summit Lake Drive	Valhalla, New York	100.0	Fee Interest	250,000	41,581			166
Dec-19	200 Summit Lake Drive	Valhalla, New York	100.0	Fee Interest	245,000	37,943			155
Dec-19	500 Summit Lake Drive	Valhalla, New York	100.0	Fee Interest	228,000	34,185			150
Dec-19	360 Hamilton Avenue	White Plains, New York	100.0	Fee Interest	384,000	115,452			301
Dec-20	1055 Washington Boulevard	Stamford, Connecticut	100.0	Leasehold Interest	182,000	23,750			130





















					7,433,341	$	1,786,133		$	240

2024 Dispositions
Jul-24	Palisades Premier Conference Center	Orangetown, New York	100.0	Fee Interest	450,000	$	26,250		$	58
					450,000	$	26,250		$	58


Supplemental Information			48			Third Quarter 2024



Non-GAAP Disclosures and Reconciliations Unaudited (Dollars in Thousands, except per share data)

Funds Available for Distribution (FAD)

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDAre)

Net Operating Income (NOI) and Cash NOI

Coverage Ratios

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES


Supplemental Information			49			Third Quarter 2024



Non-GAAP Disclosures and Reconciliations Unaudited (Dollars in Thousands, except per share data)

Funds From Operations (FFO) Reconciliation


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023

Net loss attributable to SL Green common stockholders	$	(13,279)	$	(23,967)	$	(2,298)	$	(423,892)
Add:
Depreciation and amortization	53,176		50,642		154,007		198,760
Joint venture depreciation and noncontrolling interest adjustments	71,539		76,539		218,035		211,222
Net loss attributable to noncontrolling interests	(1,899)		(3,368)		(4,316)		(31,952)
Less:
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	371		—		19,006		(79)
Purchase price and other fair value adjustments	21,937		10,200		(33,765)		(6,813)
Gain (loss) on sale of real estate, net	7,471		516		4,730		(27,813)
Depreciable real estate reserves	—		389		(65,839)		(305,527)
Depreciation on non-rental real estate assets	1,204		1,002		3,357		2,722
FFO attributable to SL Green common stockholders and unit holders	$	78,554	$	87,739	$	437,939	$	291,648

Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate (EBITDAre)


	For the three months ended
	9/30/2024		6/30/2024		3/31/2024		12/31/2023		9/30/2023

Net (loss) income	$	(9,264)	$	1,959	$	18,389	$	(160,058)	$	(21,694)
Depreciable real estate reserves	—		13,721		52,118		76,847		(389)
(Gain) loss on sale of real estate	(7,471)		2,741		—		4,557		(516)
Purchase price and other fair value adjustments	(12,906)		(1,265)		50,492		10,273		(10,183)
Equity in net (gain) loss on sale of interest in unconsolidated joint venture/real estate	(371)		8,129		(26,764)		13,289		—

Depreciation and amortization	53,176		52,247		48,584		49,050		50,642
Income taxes	1,406		1,230		606		737		(544)
SUMMIT Operator tax expense	(1,779)		1,855		(1,295)		2,320		3,735
Amortization of deferred financing costs	1,669		1,677		1,539		1,510		2,152
Interest expense, net of interest income	42,091		35,803		31,173		27,400		27,440
Adjustments to reflect the entity’s share of EBITDAre of unconsolidated affiliates	143,797		147,288		151,036		151,577		153,417
EBITDAre	$	210,348	$	265,385	$	325,878	$	177,502	$	204,060


Supplemental Information			50			Third Quarter 2024



Non-GAAP Disclosures and Reconciliations Unaudited (Dollars in Thousands, except per share data)


RECONCILIATION OF NON-GAAP FINANCIAL MEASURES	Three Months Ended				Nine Months Ended
Operating income and Same-store NOI Reconciliation	September 30,				September 30,
	2024		2023		2024		2023

Net (loss) income	$	(9,264)	$	(21,694)	$	11,084	$	(439,279)

Depreciable real estate reserves	—		(389)		65,839		305,527
(Gain) loss on sale of real estate, net	(7,471)		(516)		(4,730)		27,813
Purchase price and other fair value adjustments	(12,906)		(10,183)		36,321		6,987
Equity in net (gain) loss on sale of interest in unconsolidated joint venture/real estate	(371)		—		(19,006)		79

Depreciation and amortization	53,176		50,642		154,007		198,760
SUMMIT Operator tax expense	(1,779)		3,735		(1,219)		6,881
Amortization of deferred financing costs	1,669		2,152		4,885		6,327
Interest expense, net of interest income	42,091		27,440		109,067		109,714
Interest expense on senior obligations of consolidated securitization vehicles	3,330		—		3,330		—
Operating income	68,475		51,187		359,578		222,809

Equity in net loss (income) from unconsolidated joint ventures	15,428		15,126		(100,057)		44,470
Marketing, general and administrative expense	21,015		22,873		62,360		69,132

Transaction related costs	171		166		263		1,083
Loan loss and other investment reserves, net of recoveries	—		—		—		6,890
SUMMIT Operator expenses	37,901		32,801		82,947		76,324
Gain on early extinguishment of debt	—		—		(17,777)		—
Investment income	(5,344)		(9,689)		(18,938)		(27,849)
Interest income from real estate loans held by consolidated securitization vehicles	(4,771)		—		(4,771)		—
SUMMIT Operator revenue	(36,437)		(35,069)		(94,643)		(83,020)
Non-building revenue	(17,414)		(4,616)		(48,177)		(32,533)
Net operating income (NOI)	79,024		72,779		220,785		277,306

Equity in net (loss) income from unconsolidated joint ventures	(15,428)		(15,126)		100,057		(44,470)
SLG share of unconsolidated JV depreciation and amortization	67,954		71,248		208,052		196,752
SLG share of unconsolidated JV amortization of deferred financing costs	2,413		2,926		7,875		9,129
SLG share of unconsolidated JV interest expense, net of interest income	67,670		73,470		209,753		199,205

SLG share of unconsolidated JV gain on early extinguishment of debt	—		—		(172,369)		—
SLG share of unconsolidated JV investment income	(4,745)		(321)		(6,465)		(951)
SLG share of unconsolidated JV non-building revenue	(776)		(10,099)		(2,899)		(14,443)
NOI including SLG share of unconsolidated JVs	196,112		194,877		564,789		622,528

NOI from other properties/affiliates	(27,865)		(25,606)		(81,356)		(118,563)
Same-Store NOI	168,247		169,271		483,433		503,965

Straight-line and free rent	674		(1,923)		(487)		(10,805)
Amortization of acquired above and below-market leases, net	834		140		1,748		472
Operating lease straight-line adjustment	204		204		611		611
SLG share of unconsolidated JV straight-line and free rent	(2,219)		(2,808)		(5,434)		(17,807)
SLG share of unconsolidated JV amortization of acquired above and below-market leases, net	(4,409)		(4,318)		(13,225)		(12,754)
SLG share of unconsolidated JV operating lease straight-line adjustment	—		—		—		—
Same-store cash NOI	$	163,331	$	160,566	$	466,646	$	463,682

Lease termination income	(1,369)		(2,200)		(3,601)		(2,952)
SLG share of unconsolidated JV lease termination income	(223)		(1,148)		(3,566)		(1,882)
Same-store cash NOI excluding lease termination income	$	161,739	$	157,218	$	459,479	$	458,848


Supplemental Information			51			Third Quarter 2024



RESEARCH ANALYST COVERAGE


EQUITY COVERAGE

Firm	Analyst	Phone	Email
B of A Securities	Jeff Spector	(646) 855-1363	jeff.spector@bofa.com
Barclays	Brendan Lynch	(212) 526-9428	brendan.lynch@barclays.com
BMO Capital Markets Corp.	John P. Kim	(212) 885-4115	JohnP.Kim@bmo.com
BTIG	Thomas Catherwood	(212) 738-6140	tcatherwood@btig.com
Citi	Michael Griffin	(212) 816-5871	michael.a.griffin@citi.com
Deutsche Bank	Omotayo Okusanya	(212) 250-9284	omotayo.okusanya@db.com
Goldman Sachs & Co.	Caitlin Burrows	(212) 902-4736	caitlin.burrows@gs.com
Evercore ISI	Steve Sakwa	(212) 446-9462	steve.sakwa@evercoreisi.com
Jefferies	Peter Abramowitz	(212) 336-7241	pabramowitz@jefferies.com
JP Morgan Securities	Anthony Paolone	(212) 622-6682	anthony.paolone@jpmorgan.com
Mizuho Securities USA	Vikram Malhotra	(212) 282-3827	vikram.malhotra@mizuhogroup.com
Morgan Stanley & Co.	Ronald Kamdem	(212) 296-8319	ronald.kamdem@morganstanley.com
Piper Sandler	Alexander Goldfarb	(212) 466-7937	alexander.goldfarb@psc.com
Scotiabank	Nicholas Yulico	(212) 225-6904	nicholas.yulico@scotiabank.com
Truist Securities	Michael Lewis	(212) 319-5659	michael.r.lewis@truist.com
Wells Fargo	Blaine Heck	(443) 263-6529	blaine.heck@wellsfargo.com
Wolfe Research	Andrew Rosivach	(646) 582-9250	arosivach@wolferesearch.com

SL Green Realty Corp. is covered by the research analysts listed above. Please note that any opinions, estimates or forecasts regarding SL Green Realty Corp.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of SL Green Realty Corp. or its management. SL Green Realty Corp. does not, by its reference above or distribution, imply its endorsement of or concurrence with such information, conclusions or recommendations.


Supplemental Information			52			Third Quarter 2024



EXECUTIVE MANAGEMENT


Marc Holliday			Neil H. Kessner
Chairman, Chief Executive Officer and			Executive Vice President, General
Interim President			Counsel - Real Property

Matthew J. DiLiberto			Maggie Hui
Chief Financial Officer			Chief Accounting Officer

Andrew S. Levine			Harrison Sitomer
Chief Legal Officer - General Counsel, EVP			Chief Investment Officer

Steven M. Durels			Robert Schiffer
Executive Vice President, Director of			Executive Vice President, Development
Leasing and Real Property
			Brett Herschenfeld
Edward V. Piccinich			Executive Vice President, Retail and Opportunistic
Chief Operating Officer			Investment


Supplemental Information			53			Third Quarter 2024