v3.26.3
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues        
Rental revenue, net $ 185,933 $ 168,536 $ 564,691 $ 496,792
SUMMIT Operator revenue 34,655 32,883 90,306 86,424
Investment income 2,615 4,356 7,618 26,809
Interest income from real estate loans held by consolidated securitization vehicles 14,687 10,838 44,079 47,868
Fee income 30,596 23,296 70,037 47,787
Other income 4,539 4,908 13,375 20,899
Total revenues 273,025 244,817 790,106 726,579
Expenses        
Operating expenses, including related party expenses of $0 and $6 in 2026, and $6 and $9 in 2025 58,700 57,673 180,407 164,840
Real estate taxes 42,190 37,627 126,537 112,594
Operating lease rent 6,898 6,106 20,740 18,317
SUMMIT Operator expenses 42,936 35,959 93,398 82,570
Interest expense, net of interest income 50,026 47,235 154,946 138,234
Amortization of deferred financing costs 2,480 1,724 7,438 5,153
SUMMIT Operator tax expense 616 1,279 2,424 2,781
Interest expense on senior obligations of consolidated securitization vehicles 14,687 10,838 44,079 45,827
Depreciation and amortization 63,629 63,216 200,659 187,874
Loan loss reserves and other investment reserves, net of recoveries 0 0 0 (71,326)
Transaction related costs 228 13,129 529 13,601
Marketing, general and administrative 23,253 23,701 68,820 67,004
Total expenses 305,643 298,487 899,977 767,469
Equity in net income (loss) from unconsolidated joint ventures 26,692 (9,287) 20,860 (30,892)
Income from debt fund investments, net 2,166 1,176 10,634 1,776
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate 0 86,872 (814) 84,926
Purchase price and other fair value adjustments 4,261 11,138 14,106 (8,090)
Gain (loss) on sale of real estate, net 91,445 (1,068) 103,902 (1,717)
Depreciable real estate reserves and impairments (2,275) 0 (37,435) (8,546)
Gain on sale of marketable securities 0 0 0 10,232
Net income 89,671 35,161 1,382 6,799
Net (income) loss attributable to noncontrolling interests:        
Noncontrolling interests in the Operating Partnership (5,797) (1,737) 3,036 503
Noncontrolling interests in other partnerships (5,688) (2,658) (25,194) 3,079
Preferred units distributions (2,256) (2,154) (6,713) (6,461)
Net income (loss) attributable to SL Green 75,930 28,612 (27,489) 3,920
Perpetual preferred stock dividends (3,738) (3,738) (11,213) (11,213)
Net income (loss) attributable to SL Green common stockholders $ 72,192 $ 24,874 $ (38,702) $ (7,293)
Basic earnings (loss) per share (in dollars per share) $ 1.01 $ 0.35 $ (0.56) $ (0.12)
Diluted earnings (loss) per share (in dollars per share) $ 1.01 $ 0.34 $ (0.56) $ (0.12)
Basic weighted average common shares outstanding (in shares) 70,441 70,443 70,598 70,434
Diluted weighted average common shares and common share equivalents outstanding (in shares) 75,972 71,148 70,598 70,434