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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2014	Nov. 03, 2014
Document Information [Line Items]
Entity Registrant Name	SL GREEN REALTY CORP
Entity Central Index Key	0001040971
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding (shares)		96,516,521
SL Green Operating Partnership
Document Information [Line Items]
Entity Registrant Name	SL GREEN OPERATING PARTNERSHIP, LP.
Entity Central Index Key	0001492869
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding (shares)		876,199

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Commercial real estate properties, at cost:
Land and land interests	$ 3,833,305	$ 3,032,526
Building and improvements	8,679,637	7,884,663
Building leasehold and improvements	1,405,255	1,366,281
Properties under capital lease	27,445	50,310
Total commercial real estate properties, at cost	13,945,642	12,333,780
Less: accumulated depreciation	(1,826,027)	(1,646,240)
Total commercial real estate properties, net	12,119,615	10,687,540
Assets held for sale	753,457	0
Cash and cash equivalents	253,520	206,692
Restricted cash	159,303	142,051
Investment in marketable securities	39,293	32,049
Tenant and other receivables, net of allowance of $20,719 and $17,325 in 2014 and 2013, respectively	64,184	60,393
Related party receivables	13,262	8,530
Deferred rents receivable, net of allowance of $27,185 and $30,333 in 2014 and 2013, respectively	364,284	386,508
Debt and preferred equity investments, net of discounts and deferred origination fees of $19,801 and $18,593 in 2014 and 2013, respectively, and allowance of $1,000 in 2013	1,432,951	1,304,839
Investments in unconsolidated joint ventures	996,842	1,113,218
Deferred costs, net	310,860	267,058
Other assets	729,538	750,123
Total assets	17,237,109	14,959,001
Liabilities
Mortgages and other loans payable	5,890,782	4,860,578
Revolving credit facility	244,000	220,000
Term loan and senior unsecured notes	2,054,168	1,739,330
Accrued interest payable and other liabilities	127,811	114,622
Accounts payable and accrued expenses	183,001	145,889
Deferred revenue	215,527	263,261
Capitalized lease obligations	20,728	47,671
Deferred land leases payable	1,129	22,185
Dividend and distributions payable	53,571	52,255
Security deposits	66,659	61,308
Liabilities related to assets held for sale	461,891	0
Junior subordinated deferrable interest debentures held by trusts that issued trust preferred securities	100,000	100,000
Total liabilities	9,419,267	7,627,099
Commitments and contingencies
Noncontrolling interests in the Operating Partnership	381,274	265,476
Preferred Units	73,115	49,550
Equity
Common stock, $0.01 par value, 160,000 shares authorized and 99,547 and 98,563 issued and outstanding at September 30, 2014 and December 31, 2013, respectively (including 3,602 and 3,570 shares held in Treasury at September 30, 2014 and December 31, 2013, respectively)	996	986
Additional paid-in-capital	5,130,858	5,015,904
Treasury stock at cost	(320,222)	(317,356)
Accumulated other comprehensive loss	(2,896)	(15,211)
Retained earnings	1,813,956	1,619,150
Total SL Green stockholders' equity	6,844,624	6,525,405
Noncontrolling interests in other partnerships	518,829	491,471
Total equity	7,363,453	7,016,876
Total liabilities and equity	17,237,109	14,959,001
Series I Preferred Stock
Equity
Series I Preferred Stock, $0.01 par value, $25.00 liquidation preference, 9,200 issued and outstanding at both September 30, 2014 and December 31, 2013	221,932	221,932
SL Green Operating Partnership
Commercial real estate properties, at cost:
Land and land interests	3,833,305	3,032,526
Building and improvements	8,679,637	7,884,663
Building leasehold and improvements	1,405,255	1,366,281
Properties under capital lease	27,445	50,310
Total commercial real estate properties, at cost	13,945,642	12,333,780
Less: accumulated depreciation	(1,826,027)	(1,646,240)
Total commercial real estate properties, net	12,119,615	10,687,540
Assets held for sale	753,457	0
Cash and cash equivalents	253,520	206,692
Restricted cash	159,303	142,051
Investment in marketable securities	39,293	32,049
Tenant and other receivables, net of allowance of $20,719 and $17,325 in 2014 and 2013, respectively	64,184	60,393
Related party receivables	13,262	8,530
Deferred rents receivable, net of allowance of $27,185 and $30,333 in 2014 and 2013, respectively	364,284	386,508
Debt and preferred equity investments, net of discounts and deferred origination fees of $19,801 and $18,593 in 2014 and 2013, respectively, and allowance of $1,000 in 2013	1,432,951	1,304,839
Investments in unconsolidated joint ventures	996,842	1,113,218
Deferred costs, net	310,860	267,058
Other assets	729,538	750,123
Total assets	17,237,109	14,959,001
Liabilities
Mortgages and other loans payable	5,890,782	4,860,578
Revolving credit facility	244,000	220,000
Term loan and senior unsecured notes	2,054,168	1,739,330
Accrued interest payable and other liabilities	127,811	114,622
Accounts payable and accrued expenses	183,001	145,889
Deferred revenue	215,527	263,261
Capitalized lease obligations	20,728	47,671
Deferred land leases payable	1,129	22,185
Dividend and distributions payable	53,571	52,255
Security deposits	66,659	61,308
Liabilities related to assets held for sale	461,891	0
Junior subordinated deferrable interest debentures held by trusts that issued trust preferred securities	100,000	100,000
Total liabilities	9,419,267	7,627,099
Commitments and contingencies
Preferred Units	73,115	49,550
Equity
Accumulated other comprehensive loss	(3,000)	(15,662)
Total liabilities and equity	17,237,109	14,959,001
SLGOP partners' capital:
SL Green partners' capital 997 and 979 general partner common units and 94,948 and 94,014 limited partner common units outstanding at September 30, 2014 and December 31, 2013, respectively)	6,922,104	6,506,747
Limited partner interests in SLGOP (3,735 and 2,902 limited partner common units outstanding at September 30, 2014 and December 31, 2013, respectively)	84,862	77,864
Total SLGOP partners' capital	7,225,898	6,790,881
Noncontrolling interests in other partnerships	518,829	491,471
Total capital	7,744,727	7,282,352
SL Green Operating Partnership \| Series I Preferred Stock
SLGOP partners' capital:
Series I Preferred Units, $25.00 liquidation preference, 9,200 outstanding at both September 30, 2014 and December 31, 2013	221,932	221,932
Total capital	$ 221,932	$ 221,932

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Tenant and other receivables, allowance (in dollars)	$ 20,719	$ 17,325
Deferred rents receivable, allowance (in dollars)	27,185	30,333
Debt and preferred equity investments, discount (in dollars)	19,801	18,593
Debt and preferred equity investments, allowance (in dollars)	$ 0	$ 1,000
Preferred stock, par value (in dollars per share)	$ 0.01
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	160,000	160,000
Common stock, shares issued (shares)	99,547	98,563
Common stock, shares outstanding (shares)	99,547	98,563
Treasury stock, shares (shares)	3,602	3,570
Series I Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation preference (in dollars per share)	$ 25.00	$ 25.00
Preferred stock, shares issued (shares)	9,200	9,200
Preferred stock, shares outstanding (shares)	9,200	9,200
SL Green Operating Partnership
Tenant and other receivables, allowance (in dollars)	$ 20,719	$ 17,325
Deferred rents receivable, allowance (in dollars)	27,185	30,333
Debt and preferred equity investments, discount (in dollars)	19,801	18,593
Debt and preferred equity investments, allowance (in dollars)	$ 0	$ 1,000
SL Green partner's capital, general partner common units outstanding (shares)	997	979
SL Green partners' capital, limited partner common units outstanding (shares)	94,948	94,014
Limited partner interests in Operating Partnership, limited partner common units outstanding (shares)	3,735	2,902
SL Green Operating Partnership \| Series I Preferred Stock
Preferred stock, liquidation preference (in dollars per share)	$ 25.00	$ 25.00
Preferred Units, shares issued (shares)	9,200	9,200
Preferred Units, shares outstanding (shares)	9,200	9,200

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues
Rental revenue, net	$ 291,293	$ 242,439	$ 826,877	$ 741,022
Escalation and reimbursement	43,826	42,026	120,209	114,850
Investment income	43,969	44,448	137,767	143,887
Other income	11,186	9,869	48,498	20,855
Total revenues	390,274	338,782	1,133,351	1,020,614
Expenses
Operating expenses, including $5,104 and $13,183 (2014) and $4,698 and $12,858 (2013) of related party expenses	72,111	72,784	211,118	205,921
Real estate taxes	55,548	51,529	159,702	149,857
Ground rent	8,088	7,930	24,161	23,988
Interest expense, net of interest income	82,376	78,226	236,424	232,862
Amortization of deferred financing costs	6,679	4,121	15,737	12,404
Depreciation and amortization	94,443	84,162	274,337	238,666
Transaction related costs, net of recoveries	2,383	(2,368)	6,554	717
Marketing, general and administrative	22,649	20,869	69,778	63,450
Total expenses	344,277	317,253	997,811	927,865
Income from continuing operations before equity in net income from unconsolidated joint ventures, equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate, loss on sale of investment in marketable securities, purchase price fair value adjustment and loss on early extinguishment of debt	45,997	21,529	135,540	92,749
Equity in net income from unconsolidated joint ventures	6,034	2,939	20,781	4,251
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	16,496	(354)	122,580	(3,937)
Loss on sale of investment in marketable securities	0	0	0	(65)
Purchase price fair value adjustment	(4,000)	0	67,446	(2,305)
Loss on early extinguishment of debt	(24,475)	0	(25,500)	(18,523)
Income from continuing operations	40,052	24,114	320,847	72,170
Net income from discontinued operations	4,035	7,435	15,449	19,851
Gain on sale of discontinued operations	29,507	13,787	144,242	14,900
Net income	73,594	45,336	480,538	106,921
Net income attributable to noncontrolling interests:
Noncontrolling interests in the Operating Partnership	(2,636)	(1,110)	(16,010)	(1,909)
Noncontrolling interests in other partnerships	(1,712)	(2,901)	(5,045)	(8,806)
Preferred units distribution	(820)	(562)	(1,950)	(1,692)
Net income attributable to SL Green	68,426	40,763	457,533	94,514
Preferred stock redemption costs	0	0	0	(12,160)
Perpetual preferred stock dividends	(3,738)	(3,738)	(11,214)	(18,144)
Net income attributable to SL Green common stockholders	64,688	37,025	446,319	64,210
Amounts attributable to SL Green common stockholders:
Income from continuing operations	20,312	16,772	108,710	36,518
Purchase price fair value adjustment	(3,856)	0	65,111	(2,239)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	15,901	(344)	118,336	(3,824)
Net income from discontinued operations	3,889	7,216	14,914	19,282
Gain on sale of discontinued operations	28,442	13,381	139,248	14,473
Net income attributable to SL Green common stockholders	$ 64,688	$ 37,025	$ 446,319	$ 64,210
Basic earnings per share:
Income from continuing operations before gains (loss) on sale and discontinued operations (usd per share)	$ 0.17	$ 0.18	$ 1.82	$ 0.37
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	0.17	0.00	1.24	(0.04)
Net income from discontinued operations (usd per share)	0.04	0.07	0.16	0.21
Gain on sale of discontinued operations (usd per share)	0.30	0.15	1.46	0.16
Net income attributable to SL Green common stockholders (usd per share)	0.68	0.40	4.68	0.70
Diluted earnings per share:
Income from continuing operations before gains (loss) on sale and discontinued operations (usd per share)	0.17	0.18	1.82	0.37
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	0.17	0.00	1.23	(0.04)
Net income from discontinued operations (usd per share)	0.04	0.07	0.16	0.21
Gain on sale of discontinued operations (usd per share)	0.30	0.15	1.45	0.16
Net income attributable to SL Green common stockholders (usd per share)	0.68	0.40	4.66	0.70
Dividends per share (usd per share)	$ 0.50	$ 0.33	$ 1.50	$ 0.99
Basic weighted average common shares outstanding (in shares)	95,734	91,988	95,437	91,684
Diluted weighted average common shares and common share equivalents outstanding (usd per share)	99,706	95,016	99,322	94,631
SL Green Operating Partnership
Revenues
Rental revenue, net	$ 291,293	$ 242,439	$ 826,877	$ 741,022
Escalation and reimbursement	43,826	42,026	120,209	114,850
Investment income	43,969	44,448	137,767	143,887
Other income	11,186	9,869	48,498	20,855
Total revenues	390,274	338,782	1,133,351	1,020,614
Expenses
Operating expenses, including $5,104 and $13,183 (2014) and $4,698 and $12,858 (2013) of related party expenses	72,111	72,784	211,118	205,921
Real estate taxes	55,548	51,529	159,702	149,857
Ground rent	8,088	7,930	24,161	23,988
Interest expense, net of interest income	82,376	78,226	236,424	232,862
Amortization of deferred financing costs	6,679	4,121	15,737	12,404
Depreciation and amortization	94,443	84,162	274,337	238,666
Transaction related costs, net of recoveries	2,383	(2,368)	6,554	717
Marketing, general and administrative	22,649	20,869	69,778	63,450
Total expenses	344,277	317,253	997,811	927,865
Income from continuing operations before equity in net income from unconsolidated joint ventures, equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate, loss on sale of investment in marketable securities, purchase price fair value adjustment and loss on early extinguishment of debt	45,997	21,529	135,540	92,749
Equity in net income from unconsolidated joint ventures	6,034	2,939	20,781	4,251
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	16,496	(354)	122,580	(3,937)
Loss on sale of investment in marketable securities	0	0	0	(65)
Purchase price fair value adjustment	(4,000)	0	67,446	(2,305)
Loss on early extinguishment of debt	(24,475)	0	(25,500)	(18,523)
Income from continuing operations	40,052	24,114	320,847	72,170
Net income from discontinued operations	4,035	7,435	15,449	19,851
Gain on sale of discontinued operations	29,507	13,787	144,242	14,900
Net income	73,594	45,336	480,538	106,921
Net income attributable to noncontrolling interests:
Noncontrolling interests in other partnerships	(1,712)	(2,901)	(5,045)	(8,806)
Net income attributable to SL Green	71,062	41,873	473,543	96,423
Preferred stock redemption costs	0	0	0	(12,160)
Net income attributable to SL Green common stockholders	67,324	38,135	462,329	66,119
Amounts attributable to SL Green common stockholders:
Income from continuing operations	21,286	17,267	112,612	37,610
Purchase price fair value adjustment	(4,000)	0	67,446	(2,305)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	16,496	(354)	122,580	(3,937)
Gain on sale of discontinued operations	29,507	13,787	144,242	14,900
Net income attributable to SL Green common stockholders	$ 67,324	$ 38,135	$ 462,329	$ 66,119
Basic earnings per share:
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	$ 0.17	$ 0.00	$ 1.24	$ (0.04)
Gain on sale of discontinued operations (usd per share)	0.30	0.15	1.46	0.16
Diluted earnings per share:
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	0.17	0.00	1.23	(0.04)
Gain on sale of discontinued operations (usd per share)	$ 0.30	$ 0.15	$ 1.45	$ 0.16
Noncontrolling Interest [Abstract]
Preferred unit distributions	$ (820)	$ (562)	$ (1,950)	$ (1,692)
Perpetual preferred unit distributions	(3,738)	(3,738)	(11,214)	(18,144)
Net income attributable to SLGOP common unitholders	67,324	38,135	462,329	66,119
Net income from discontinued operations	$ 4,035	$ 7,435	$ 15,449	$ 19,851
Net income from continuing operations before gains (loss) on sale and discontinued operations (in dollars per share)	$ 0.17	$ 0.18	$ 1.82	$ 0.37
Net income from discontinued operations (in dollars per share)	0.04	0.07	0.16	0.21
Net income attributable to SLGOP common stockholders (in dollars per share)	0.68	0.40	4.68	0.70
Income from continuing operations before gains (loss) on sale and discontinued operations (in dollars per share)	0.17	0.18	1.82	0.37
Net income from discontinued operations (in dollars per share)	0.04	0.07	0.16	0.21
Net income attributable to SLGOP common stockholders (in dollars per share)	0.68	0.40	4.66	0.70
Dividends per unit (usd per share)	$ 0.5	$ 0.33	$ 1.50	$ 0.99
Basic weighted average common shares outstanding (in shares)	99,319	94,780	98,860	94,389
Diluted weighted average common shares and common share equivalents outstanding (in shares)	99,706	95,016	99,322	94,631

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Related party expenses included in Operating expenses	$ 5,104	$ 4,698	$ 13,183	$ 12,858
SL Green Operating Partnership
Related party expenses included in Operating expenses	$ 5,104	$ 4,698	$ 13,183	$ 12,858

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net income	$ 73,594	$ 45,336	$ 480,538	$ 106,921
Other comprehensive income:
Change in net unrealized gain (loss) on derivative instruments, including share of joint venture net unrealized gain (loss) on derivative instruments	3,919	(1,165)	11,380	10,522
Change in unrealized (loss) gain on marketable securities	(506)	513	1,282	306
Other comprehensive income (loss)	3,413	(652)	12,662	10,828
Comprehensive income	77,007	44,684	493,200	117,749
Net income attributable to noncontrolling interests	(5,168)	(4,573)	(23,005)	(12,407)
Other comprehensive (income) loss attributable to noncontrolling interests	(113)	25	(347)	(490)
Comprehensive income attributable to SL Green	71,726	40,136	469,848	104,852
SL Green Operating Partnership
Net income	73,594	45,336	480,538	106,921
Other comprehensive income:
Change in net unrealized gain (loss) on derivative instruments, including share of joint venture net unrealized gain (loss) on derivative instruments	3,919	(1,165)	11,380	10,522
Change in unrealized (loss) gain on marketable securities	(506)	513	1,282	306
Other comprehensive income (loss)	3,413	(652)	12,662	10,828
Comprehensive income	77,007	44,684	493,200	117,749
Net income attributable to noncontrolling interests	(1,712)	(2,901)	(5,045)	(8,806)
Comprehensive income attributable to SL Green	$ 75,295	$ 41,783	$ 488,155	$ 108,943

Consolidated Statements of Equity - 9 months ended Sep. 30, 2014 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interests	Series I Preferred Stock Preferred Stock
Beginning Balance at Dec. 31, 2013	$ 7,016,876	$ 986	$ 5,015,904	$ (317,356)	$ (15,211)	$ 1,619,150	$ 491,471	$ 221,932
Shares outstanding (shares) at Dec. 31, 2013		94,993
Increase (Decrease) in Stockholders' Equity
Net income	462,578					457,533	5,045
Other comprehensive income	12,315				12,315
Preferred dividends	(11,214)					(11,214)
DRIP proceeds	40		40
Conversion of units of the Operating Partnership to common stock	26,392	$ 3	26,389
Conversion of units of the Operating Partnership to common stock (in shares)		264
Reallocation of noncontrolling interest in the Operating Partnership	(108,453)					(108,453)
Deferred compensation plan and stock award, net	(1,363)	$ 0	1,503	(2,866)
Deferred compensation plan and stock award, net (in shares)		4
Amortization of deferred compensation plan	23,822		23,822
Issuance of common stock	42,698	$ 4	42,694
Issuance of common stock (shares)		394
Proceeds from stock options exercised	20,509	$ 3	20,506
Proceeds from issuance of common stock (in shares)		290
Contributions to consolidated joint venture interests	28,058						28,058
Cash distributions to noncontrolling interests	(5,745)						(5,745)
Cash distributions declared ($1.50 per common share, none of which represented a return of capital for federal income tax purposes)	(143,060)					(143,060)
Ending Balance at Sep. 30, 2014	$ 7,363,453	$ 996	$ 5,130,858	$ (320,222)	$ (2,896)	$ 1,813,956	$ 518,829	$ 221,932
Shares outstanding (shares) at Sep. 30, 2014		95,945

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Stockholders' Equity [Abstract]
Cash distribution declared, per common share (usd per share)	$ 0.50	$ 0.33	$ 1.50	$ 0.99

Consolidated Statements of Capital Statement - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Increase (Decrease) in Stockholders' Equity
Other comprehensive income	$ 3,413	$ 12,662
DRIP proceeds		40
Redemption of units		26,392
Deferred compensation plan and stock award, net		(1,363)
Amortization of deferred compensation plan		23,822
Contributions to consolidated joint venture interests		28,058
Cash distributions to noncontrolling interests		(5,745)
Common Stock
Increase (Decrease) in Stockholders' Equity
Redemption of units		$ 3
Redemption of units (in units)		264
Deferred compensation plan and stock award, net		$ 0
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity
Contributions to consolidated joint venture interests		28,058
Cash distributions to noncontrolling interests		(5,745)
SL Green Operating Partnership
Increase (Decrease) in Stockholders' Equity
Beginning Balance		7,282,352
Net income		478,588
Other comprehensive income	3,413	12,662
Preferred distributions		(11,214)
Issuance of common units		22,862
DRIP proceeds		40
Redemption of units		0
Deferred compensation plan and stock award, net		(1,363)
Amortization of deferred compensation plan		23,822
Contributions to consolidated joint venture interests		28,058
Contributions—net proceeds from common stock offering		42,698
Contributions—proceeds from stock options exercised		20,509
Cash distributions to noncontrolling interests		(5,745)
Cash distribution declared ($1.50 per common unit, none of which represented a return of capital for federal income tax purposes)		(148,542)
Ending Balance	7,744,727	7,744,727
SL Green Operating Partnership \| Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity
Beginning Balance		(15,662)
Other comprehensive income		12,662
Ending Balance	(3,000)	(3,000)
SL Green Operating Partnership \| Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity
Beginning Balance		491,471
Net income		5,045
Contributions to consolidated joint venture interests		28,058
Cash distributions to noncontrolling interests		(5,745)
Ending Balance	518,829	518,829
SL Green Operating Partnership \| General Partner
Increase (Decrease) in Stockholders' Equity
Beginning Balance		$ 6,506,747
Balance (shares)		94,993
Net income		$ 446,319
DRIP proceeds		$ 40
DRIP proceeds (in units)		0
Redemption of units		$ 26,392
Redemption of units (in units)		264
Deferred compensation plan and stock award, net		$ (1,363)
Deferred compensation plan and stock award, net (in units)		4
Amortization of deferred compensation plan		$ 23,822
Contributions—net proceeds from common stock offering		$ 42,698
Contributions—net proceeds from common stock offering (in units)		394
Contributions—proceeds from stock options exercised		$ 20,509
Contributions—proceeds from stock options exercised (in units)		290
Cash distribution declared ($1.50 per common unit, none of which represented a return of capital for federal income tax purposes)		$ (143,060)
Ending Balance	$ 6,922,104	$ 6,922,104
Balance (shares)	95,945	95,945
SL Green Operating Partnership \| Limited Partners
Increase (Decrease) in Stockholders' Equity
Balance (shares)		2,902
Issuance of common units (in units)		1,097
Redemption of units (in units)		(264)
Deferred compensation plan and stock award, net (in units)
Balance (shares)	3,735	3,735
SL Green Operating Partnership \| Limited Partners \| Common Stock
Increase (Decrease) in Stockholders' Equity
Beginning Balance		$ 77,864
Net income		16,010
Issuance of common units		22,862
Redemption of units		(26,392)
Cash distribution declared ($1.50 per common unit, none of which represented a return of capital for federal income tax purposes)		(5,482)
Ending Balance	$ 84,862	84,862
SL Green Operating Partnership \| Series I Preferred Stock
Increase (Decrease) in Stockholders' Equity
Beginning Balance		221,932
Net income		11,214
Preferred distributions		(11,214)
Ending Balance	$ 221,932	$ 221,932

Consolidated Statements of Capital (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
SL Green Operating Partnership
Cash distribution declared, per common share (usd per share)	$ 0.5	$ 0.33	$ 1.50	$ 0.99

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Operating Activities
Net income	$ 480,538	$ 106,921
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	295,877	264,833
Equity in net income from unconsolidated joint ventures	(20,781)	(4,251)
Distributions of cumulative earnings from unconsolidated joint ventures	23,065	21,723
Equity in net (gain) loss on sale of interest in unconsolidated joint venture interest/real estate	(122,580)	3,937
Purchase price fair value adjustment	(71,446)	2,305
Depreciable real estate reserves	0	2,150
Gain on sale of discontinued operations	(144,242)	(14,900)
Loss on early extinguishment of debt	25,500	10,968
Deferred rents receivable	(43,736)	(44,021)
Other non-cash adjustments	(13,121)	(31,732)
Changes in operating assets and liabilities:
Restricted cash—operations	(7,124)	1,254
Tenant and other receivables	(7,336)	(3,018)
Related party receivables	(5,200)	(187)
Deferred lease costs	(17,544)	(28,502)
Other assets	(35,717)	(23,316)
Accounts payable, accrued expenses and other liabilities and security deposits	17,445	23,635
Deferred revenue and deferred land leases payable	23,608	22,731
Net cash provided by operating activities	377,206	310,530
Investing Activities
Acquisitions of real estate property	(711,437)	(58,185)
Additions to land, buildings and improvements	(282,947)	(108,849)
Escrowed cash—capital improvements/acquisition deposits	(67,868)	(246,682)
Investments in unconsolidated joint ventures	(217,187)	(120,130)
Distributions in excess of cumulative earnings from unconsolidated joint ventures	158,809	19,795
Net proceeds from disposition of real estate/joint venture interest	357,426	218,701
Proceeds from sale of marketable securities	3,669	287
Purchase of marketable securities	(10,025)	(11,492)
Other investments	15,980	(14,874)
Origination of debt and preferred equity investments	(421,003)	(393,429)
Repayments or redemption of debt and preferred equity investments	349,320	472,317
Net cash used in investing activities	(825,263)	(242,541)
Financing Activities
Proceeds from mortgages and other loans payable	2,001,603	980,333
Repayments of mortgages and other loans payable	(1,688,466)	(1,027,201)
Proceeds from revolving credit facility, term loan and senior unsecured notes	1,136,400	844,000
Repayments of revolving credit facility, term loan and senior unsecured notes	(805,988)	(578,970)
Payment of debt extinguishment costs	(23,332)	0
Proceeds from stock options exercised and DRIP issuance	20,549	10,452
Net proceeds from sale of common stock	42,698	41,734
Net proceeds from sale of preferred stock	0	24
Redemption of preferred stock	0	(192,500)
Sale of treasury stock	0	6,089
Distributions to noncontrolling interests in other partnerships	(5,745)	(11,809)
Contributions from noncontrolling interests in other partnerships	27,933	3,781
Distributions to noncontrolling interests in the Operating Partnership	(5,482)	(2,695)
Dividends paid on common and preferred stock	(154,907)	(113,192)
Deferred loan costs and capitalized lease obligation	(50,378)	(8,921)
Net cash provided by (used in) financing activities	494,885	(48,875)
Net increase in cash and cash equivalents	46,828	19,114
Cash and cash equivalents at beginning of period	206,692	189,984
Cash and cash equivalents at end of period	253,520	209,098
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Issuance of common stock as deferred compensation	1,503	434
Issuance of units in the Operating Partnership	22,862	14,270
Redemption of units in the Operating Partnership	26,392	17,287
Issuance of preferred units of limited partnership interest in the Operating Partnership	27,565	0
Fair value adjustment to noncontrolling interest in the Operating Partnership	108,453	38,452
Derivative instruments at fair value	12,713	494
Tenant improvements and capital expenditures payable	8,456	9,855
Capital leased asset	0	9,992
Transfer to net assets held for sale	753,457	0
Transfer to liabilities related to net assets held for sale	461,891	0
Transfer of financing receivable to debt investment	19,675	0
Deferred leasing payable	13,086	2,849
Consolidation of real estate	1,316,591	90,934
Assumption of mortgage loan	0	84,642
SL Green Operating Partnership
Operating Activities
Net income	480,538	106,921
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	295,877	264,833
Equity in net income from unconsolidated joint ventures	(20,781)	(4,251)
Distributions of cumulative earnings from unconsolidated joint ventures	23,065	21,723
Equity in net (gain) loss on sale of interest in unconsolidated joint venture interest/real estate	(122,580)	3,937
Purchase price fair value adjustment	(71,446)	2,305
Depreciable real estate reserves	0	2,150
Gain on sale of discontinued operations	(144,242)	(14,900)
Loss on early extinguishment of debt	25,500	10,968
Deferred rents receivable	(43,736)	(44,021)
Other non-cash adjustments	(13,121)	(31,732)
Changes in operating assets and liabilities:
Restricted cash—operations	(7,124)	1,254
Tenant and other receivables	(7,336)	(3,018)
Related party receivables	(5,200)	(187)
Deferred lease costs	(17,544)	(28,502)
Other assets	(35,717)	(23,316)
Accounts payable, accrued expenses and other liabilities and security deposits	17,445	23,635
Deferred revenue and deferred land leases payable	23,608	22,731
Net cash provided by operating activities	377,206	310,530
Investing Activities
Acquisitions of real estate property	(711,437)	(58,185)
Additions to land, buildings and improvements	(282,947)	(108,849)
Escrowed cash—capital improvements/acquisition deposits	(67,868)	(246,682)
Investments in unconsolidated joint ventures	(217,187)	(120,130)
Distributions in excess of cumulative earnings from unconsolidated joint ventures	158,809	19,795
Net proceeds from disposition of real estate/joint venture interest	357,426	218,701
Proceeds from sale of marketable securities	3,669	287
Purchase of marketable securities	(10,025)	(11,492)
Other investments	15,980	(14,874)
Origination of debt and preferred equity investments	(421,003)	(393,429)
Repayments or redemption of debt and preferred equity investments	349,320	472,317
Net cash used in investing activities	(825,263)	(242,541)
Financing Activities
Proceeds from mortgages and other loans payable	2,001,603	980,333
Repayments of mortgages and other loans payable	(1,688,466)	(1,027,201)
Proceeds from revolving credit facility, term loan and senior unsecured notes	1,136,400	844,000
Repayments of revolving credit facility, term loan and senior unsecured notes	(805,988)	(578,970)
Payment of debt extinguishment costs	(23,332)	0
Proceeds from stock options exercised and DRIP issuance	20,549	10,452
Net proceeds from sale of common stock	42,698	41,734
Net proceeds from sale of preferred stock	0	24
Redemption of preferred stock	0	(192,500)
Sale of treasury stock	0	6,089
Distributions to noncontrolling interests in other partnerships	(5,745)	(11,809)
Contributions from noncontrolling interests in other partnerships	27,933	3,781
Dividends paid on common and preferred stock	(160,389)	(115,887)
Deferred loan costs and capitalized lease obligation	(50,378)	(8,921)
Net cash provided by (used in) financing activities	494,885	(48,875)
Net increase in cash and cash equivalents	46,828	19,114
Cash and cash equivalents at beginning of period	206,692	189,984
Cash and cash equivalents at end of period	253,520	209,098
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Issuance of common stock as deferred compensation	1,503	434
Issuance of units in the Operating Partnership	22,862	14,270
Redemption of units in the Operating Partnership	26,392	17,287
Issuance of preferred units of limited partnership interest in the Operating Partnership	27,565	0
Derivative instruments at fair value	12,713	494
Tenant improvements and capital expenditures payable	8,456	9,855
Capital leased asset	0	9,992
Transfer to net assets held for sale	753,457	0
Transfer to liabilities related to net assets held for sale	461,891	0
Transfer of financing receivable to debt investment	19,675	0
Deferred leasing payable	13,086	2,849
Consolidation of real estate	1,316,591	90,934
Assumption of mortgage loan	$ 0	$ 84,642

Organization and Basis of Presentation

9 Months Ended

Sep. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

SL Green Realty Corp., which is referred to as the Company or SL Green, a Maryland corporation, and SL Green Operating Partnership, L.P., which is referred to as SLGOP or the Operating Partnership, a Delaware limited partnership, were formed in June 1997 for the purpose of combining the commercial real estate business of S.L. Green Properties, Inc. and its affiliated partnerships and entities. The Operating Partnership received a contribution of interest in the real estate properties, as well as 95% of the economic interest in the management, leasing and construction companies which are referred to as the Service Corporation, a consolidated variable interest entity. All of the management, leasing and construction services with respect to the properties that are wholly-owned by us are conducted through SL Green Management LLC which is 100% owned by the Operating Partnership. The Company has qualified, and expects to qualify in the current fiscal year, as a real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended, or the Code, and operates as a self-administered, self-managed REIT. A REIT is a legal entity that holds real estate interests and, through payments of dividends to stockholders, is permitted to minimize the payment of Federal income taxes at the corporate level. Unless the context requires otherwise, all references to "we," "our" and "us" means the Company and all entities owned or controlled by the Company, including the Operating Partnership.

Substantially all of our assets are held by, and our operations are conducted through, the Operating Partnership. The Company is the sole managing general partner of the Operating Partnership. As of September 30, 2014, noncontrolling investors held, in the aggregate, a 3.75% limited partnership interest in the Operating Partnership. We refer to these interests as the noncontrolling interests in the Operating Partnership. See Note 11, "Noncontrolling Interests on the Company's Consolidated Financial Statements."

Reckson Associates Realty Corp., or Reckson, and Reckson Operating Partnership, L.P., or ROP, are wholly-owned subsidiaries of the Operating Partnership.

As of September 30, 2014, we owned the following interests in properties in the New York Metropolitan area, primarily in midtown Manhattan, a borough of New York City. Our investments in the New York Metropolitan area also include investments in Brooklyn, Long Island, Westchester County, Connecticut and Northern New Jersey, which are collectively known as the Suburban properties:



		Consolidated			Unconsolidated		Total
Location	Type	Number of Properties		Square Feet	Number of Properties	Square Feet	Number of Properties	Square Feet	Weighted Average Occupancy(1)
Commercial:
Manhattan	Office	23		18,429,045	7	3,476,115	30	21,905,160	95.4	%
	Retail	8	(2)	394,535	7	283,295	15	677,830	90.3	%
	Development/Redevelopment	9	(3)	1,973,862	4	1,605,782	13	3,579,644	39.7	%
	Fee Interest	3	(3)	1,137,930	—	—	3	1,137,930	100.0	%
		43		21,935,372	18	5,365,192	61	27,300,564	88.2	%
Suburban	Office	27		4,365,400	4	1,222,100	31	5,587,500	81.3	%
	Retail	1		52,000	—	—	1	52,000	100.0	%
	Development/Redevelopment	1		85,000	1	65,641	2	150,641	50.5	%
		29		4,502,400	5	1,287,741	34	5,790,141	80.7	%
Total commercial properties		72		26,437,772	23	6,652,933	95	33,090,705	86.8	%
Residential:
Manhattan	Residential	3	(2)	735,587	—	—	3	735,587	94.1	%
Suburban	Residential	1		66,611	—	—	1	66,611	79.2	%
Total residential properties		4		802,198	—	—	4	802,198	93.2	%
Total portfolio		76		27,239,970	23	6,652,933	99	33,892,903	87.0	%

______________________________________________________________________


(1)	The weighted average occupancy for commercial properties represents the total occupied square feet divided by total available rentable square feet. The weighted average occupancy for residential properties represents the total occupied units divided by total available units.


(2)	As of September 30, 2014, we owned a building that was comprised of 270,132 square feet of retail space and 222,855 square feet of residential space. For the purpose of this report, we have included the building as part of retail properties and have shown the square footage under its respective classifications.


(3)	Includes two properties, which are held for sale as of September 30, 2014.

As of September 30, 2014, we also managed a 336,200 square foot office building owned by a third party. As of September 30, 2014, we also held debt and preferred equity investments with a book value of $1.4 billion.

Partnership Agreement

In accordance with the partnership agreement of the Operating Partnership, or the Operating Partnership Agreement, the Operating Partnership allocates all distributions and profits and losses in proportion to the percentage of ownership interests of the respective partners. As the managing general partner of the Operating Partnership, we are required to take such reasonable efforts, as determined by us in our sole discretion, to cause the Operating Partnership to distribute sufficient amounts to enable the payment of sufficient dividends by us to minimize any Federal income or excise tax at the Company level. Under the Operating Partnership Agreement, each limited partner has the right to redeem units of limited partnership interests for cash, or if we so elect, for shares of SL Green's common stock on a one-for-one basis.

Basis of Quarterly Presentation

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of the financial position of the Company and the Operating Partnership at September 30, 2014 and the results of operations for the periods presented have been included. The operating results for the period presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. These financial statements should be read in conjunction with the financial statements and accompanying notes included in the Annual Report on Form 10-K for the year ended December 31, 2013 of the Company and the Operating Partnership.

The consolidated balance sheets at December 31, 2013 have been derived from the audited financial statements as of that date but do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

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+ Details

Significant Accounting Policies

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements include our accounts and those of our subsidiaries, which are wholly-owned or controlled by us. Entities which we do not control through our voting interest and entities which are variable interest entities, but where we are not the primary beneficiary, are accounted for under the equity method or as debt and preferred equity investments. See Note 5, "Debt and Preferred Equity Investments" and Note 6, "Investments in Unconsolidated Joint Ventures." All significant intercompany balances and transactions have been eliminated.

We consolidate a variable interest entity, or VIE, in which we are considered the primary beneficiary. The primary beneficiary is the entity that has (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. Included in commercial real estate properties on our consolidated balance sheets as of September 30, 2014 and December 31, 2013 are $196.2 million and $605.9 million, respectively, related to our consolidated VIEs. Included in mortgages and other loans payable on our consolidated balance sheets as of September 30, 2014 and December 31, 2013 are $106.9 million and $370.9 million, respectively, related to our consolidated VIEs. Also included in assets held for sale and liabilities related to assets held for sale on our consolidated balance sheet as of September 30, 2014 are $425.7 million of commercial real estate and $256.2 million of mortgage related to our consolidated VIEs.

A noncontrolling interest in a consolidated subsidiary is defined as the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to us. Noncontrolling interests are required to be presented as a separate component of equity in the consolidated balance sheet and the presentation of net income was modified to present earnings and other comprehensive income attributed to controlling and noncontrolling interests.

We assess the accounting treatment for each joint venture and debt and preferred equity investment. This assessment includes a review of each joint venture or limited liability company agreement to determine which party has what rights and whether those rights are protective or participating. For all VIEs, we review such agreements in order to determine which party has the power to direct the activities that most significantly impact the entity's economic performance. In situations where we and our partner approve, among other things, the annual budget, receive a detailed monthly reporting package from us, meet on a quarterly basis to review the results of the joint venture, review and approve the joint venture's tax return before filing, and approve all leases that cover more than a nominal amount of space relative to the total rentable space at each property, we do not consolidate the joint venture as we consider these to be substantive participation rights that result in shared power of the activities that most significantly impact the performance of our joint venture. Our joint venture agreements typically contain certain protective rights such as the requirement of partner approval to sell, finance or refinance the property and the payment of capital expenditures and operating expenditures outside of the approved budget or operating plan.

Investment in Commercial Real Estate Properties

On a periodic basis, we assess whether there are any indications that the value of our real estate properties may be impaired or that their carrying value may not be recoverable. A property's value is considered impaired if management's estimate of the aggregate future cash flows (undiscounted and without interest charges for consolidated properties) to be generated by the property is less than the carrying value of the property. To the extent impairment has occurred, the loss will be measured as the excess of the carrying amount of the property over the calculated fair value of the property. We also evaluate our real estate properties for potential impairment when a real estate property has been classified as held for sale. Real estate assets held for sale are valued at the lower of their carrying value or fair value less costs to sell. We do not believe that the values of any of our consolidated properties or properties held for sale were impaired at September 30, 2014.

We allocate the purchase price of real estate to land and building (inclusive of tenant improvements) and, if determined to be material, intangibles, such as the value of above- and below-market leases and origination costs associated with the in-place leases. We depreciate the amount allocated to building (inclusive of tenant improvements) over their estimated useful lives, which generally range from three to 40 years. We amortize the amount allocated to the above- and below-market leases over the remaining term of the associated lease, which generally range from one to 14 years, and record it as either an increase (in the case of below-market leases) or a decrease (in the case of above-market leases) to rental income. We amortize the amount allocated to the values associated with in-place leases over the expected term of the associated lease, which generally ranges from one to 14 years. If a tenant vacates its space prior to the contractual termination of the lease and no rental payments are being made on the lease, any unamortized balance of the related intangible will be written off. The tenant improvements and origination costs are amortized as an expense over the remaining life of the lease (or charged against earnings if the lease is terminated prior to its contractual expiration date). We assess fair value of the leases based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends, and market/economic conditions that may affect the property. To the extent acquired leases contain fixed rate renewal options that are below market and determined to be material, we amortize such below-market lease value into rental income over the renewal period.

We recognized an increase of $5.7 million, $18.2 million and $12.5 million in rental revenue for the three and nine months ended September 30, 2014 and nine months ended September 30, 2013, respectively, for the amortization of aggregate below-market leases in excess of above-market leases and a reduction in lease origination costs, resulting from the allocation of the purchase price of the applicable properties. We recognized a decrease of approximately $0.2 million in rental revenue for the three months ended September 30, 2013 for the amortization of aggregate above-market leases and reductions in lease origination costs in excess of below-market leases, which included approximately $6.8 million resulting from a write-off of above-market and in-place lease balances associated with a former tenant. Excluding this non-recurring charge, we recognized an increase of approximately $6.6 million in rental revenue for the three months ended September 30, 2013 for the amortization of aggregate below-market leases in excess of above-market leases and reductions in lease origination costs. We recognized a reduction in interest expense for the amortization of the above-market rate mortgages assumed of $1.3 million, $4.1 million, $1.2 million and $3.7 million for the three and nine months ended September 30, 2014 and 2013, respectively.

The following summarizes our identified intangible assets (acquired above-market leases and in-place leases) and intangible liabilities (acquired below-market leases) as of September 30, 2014 and December 31, 2013 (in thousands):



	September 30, 2014			December 31, 2013
Identified intangible assets (included in other assets):
Gross amount	$	674,672		$	746,704
Accumulated amortization	(371,452		)	(343,339		)
Net	$	303,220		$	403,365
Identified intangible liabilities (included in deferred revenue):
Gross amount	$	655,755		$	671,380
Accumulated amortization	(470,235		)	(429,138		)
Net	$	185,520		$	242,242

Fair Value Measurements

See Note 17, "Fair Value Measurements."

Investment in Marketable Securities

We invest in marketable securities. At the time of purchase, we are required to designate a security as held-to-maturity, available-for-sale, or trading depending on ability and intent. We do not have any securities designated as held-to-maturity or trading at this time. Securities available-for-sale are reported at fair value pursuant to ASC 820-10, with the net unrealized gains or losses reported as a component of accumulated other comprehensive income or loss. Unrealized losses that are determined to be other-than-temporary are recognized in earnings up to their credit component.

The cost of bonds and marketable securities sold is determined using the specific identification method.

At September 30, 2014 and December 31, 2013, we held the following marketable securities (in thousands):



	September 30, 2014		December 31, 2013
Equity marketable securities	$	4,315	$	4,307
Commercial mortgage-backed securities	34,978		24,419
Rake bonds	—		3,323
Total marketable securities available-for-sale	$	39,293	$	32,049

The cost basis of the commercial mortgage-backed securities was $32.5 million and $23.0 million at September 30, 2014 and December 31, 2013. These securities mature at various times through 2049. The cost basis of the rake bonds was $3.6 million at December 31, 2013.

Investments in Unconsolidated Joint Ventures

We assess our investments in unconsolidated joint ventures for recoverability, and if it is determined that a loss in value of the investment is other than temporary, we write down the investment to its fair value. We evaluate our equity investments for impairment based on the joint venture's projected discounted cash flows. We do not believe that the values of any of our equity investments were impaired at September 30, 2014.

We may originate loans for real estate acquisition, development and construction, or ADC arrangements, where we expect to receive some or all of the residual profit. When the risk and rewards of these ADC arrangements are essentially the same as an investor or joint venture partner, we account for these ADC arrangements as real estate investments under the equity method of accounting for investments. Otherwise, we account for these ADC arrangements consistent with our loan accounting for our debt and preferred equity investments.

Revenue Recognition

Rental revenue is recognized on a straight-line basis over the term of the lease. Rental revenue recognition commences when the tenant takes possession or controls the physical use of the leased space. In order for the tenant to take possession, the leased space must be substantially ready for its intended use. To determine whether the leased space is substantially ready for its intended use, management evaluates whether we are or the tenant is the owner of tenant improvements for accounting purposes. When management concludes that we are the owner of tenant improvements, rental revenue recognition begins when the tenant takes possession of the finished space, which is when such tenant improvements are substantially complete. In certain instances, when management concludes that we are not the owner (the tenant is the owner) of tenant improvements, rental revenue recognition begins when the tenant takes possession of or controls the space. When management concludes that we are the owner of tenant improvements for accounting purposes, we record amounts funded to construct the tenant improvements as a capital asset. For these tenant improvements, we record amounts reimbursed by tenants as a reduction of the capital asset. When management concludes that the tenant is the owner of tenant improvements for accounting purposes, we record our contribution towards those improvements as a lease incentive, which is included in deferred costs, net on our consolidated balance sheets and amortized as a reduction to rental revenue on a straight-line basis over the term of the lease. The excess of rents recognized over amounts contractually due pursuant to the underlying leases are included in deferred rents receivable on the consolidated balance sheets. We establish, on a current basis, an allowance for future potential tenant credit losses, which may occur against this account. The balance reflected on the consolidated balance sheets is net of such allowance.

In addition to base rent, our tenants also generally will pay their pro rata share of increases in real estate taxes and operating expenses for the building over a base year. In some leases, in lieu of paying additional rent based upon increases in building operating expenses, the tenant will pay additional rent based upon increases in the wage rate paid to porters over the porters' wage rate in effect during a base year or increases in the consumer price index over the index value in effect during a base year. In addition, many of our leases contain fixed percentage increases over the base rent to cover escalations. Electricity is most often supplied by the landlord either on a sub-metered basis, or rent inclusion basis (i.e., a fixed fee is included in the rent for electricity, which amount may increase based upon increases in electricity rates or increases in electrical usage by the tenant). Base building services other than electricity (such as heat, air conditioning and freight elevator service during business hours, and base building cleaning) are typically provided at no additional cost, with the tenant paying additional rent only for services which exceed base building services or for services which are provided outside normal business hours. These escalations are based on actual expenses incurred in the prior calendar year. If the expenses in the current year are different from those in the prior year, then during the current year, the escalations will be adjusted to reflect the actual expenses for the current year.

We record a gain on sale of real estate when title is conveyed to the buyer, subject to the buyer's financial commitment being sufficient to provide economic substance to the sale and we have no substantial economic involvement with the buyer.

Interest income on debt and preferred equity investments is accrued based on the outstanding principal amount and contractual terms of the instruments and when, in the opinion of management, it is deemed collectible. Several of the debt and preferred equity investments provide for accrual of interest at specified rates, which differ from current payment terms. Interest is recognized on such loans at the accrual rate subject to management's determination that accrued interest are ultimately collectible, based on the underlying collateral and operations of the borrower. If management cannot make this determination, interest income above the current pay rate is recognized only upon actual receipt.

Deferred originations fees, original issue discounts and loan origination costs, if any, are recognized as a reduction to the interest income over the terms of the related investments using the effective interest method. Fees received in connection with loan commitments are also deferred until the loan is funded and are then recognized over the term of the loan as an adjustment to yield. Discounts or premiums associated with the purchase of loans are amortized or accreted into interest income as a yield adjustment on the effective interest method based on expected cashflows through the expected maturity date of the related investment. If we purchase a debt or preferred equity investment at a discount, intend to hold it until maturity and expect to recover the full value of the investment, we accrete the discount into income as an adjustment to yield over the term of the investment. If we purchase a debt or preferred equity investment at a discount with the intention of foreclosing on the collateral, we do not accrete the discount. For debt investments acquired at a discount for credit quality, the difference between contractual cash flows and expected cash flows at acquisition is not accreted. Anticipated exit fees, whose collection is expected, are also recognized over the term of the loan as an adjustment to yield.

Debt and preferred equity investments are placed on a non-accrual status at the earlier of the date at which payments become 90 days past due or when, in the opinion of management, a full recovery of interest income becomes doubtful. Interest income recognition on any non-accrual debt or preferred equity investment is resumed when such non-accrual debt or preferred equity investment becomes contractually current and performance is demonstrated to be resumed. Interest is recorded as income on impaired loans only to the extent cash is received.

We may syndicate a portion of the loans that we originate or sell these loans individually. When a transaction meets the criteria of sale accounting, we derecognize the loan sold and recognize gain or loss based on the difference between the sales price and the carrying value of the loan sold. Any related unamortized deferred origination fees, loan origination costs, discounts or premiums at the time of sale are recognized as an adjustment to the gain or loss on sale, which is included in investment income on the consolidated statement of income. Any fees received at the time of sale or syndication are recognized as part of investment income.

Reserve for Possible Credit Losses

The expense for possible credit losses in connection with debt and preferred equity investments is the charge to earnings to increase the allowance for possible credit losses to the level that we estimate to be adequate, based on Level 3 data, considering delinquencies, loss experience and collateral quality. Other factors considered relate to geographic trends and product diversification, the size of the portfolio and current economic conditions. Based upon these factors, we establish the provision for possible credit losses on each individual investment. When it is probable that we will be unable to collect all amounts contractually due, the investment is considered impaired.

Where impairment is indicated on an investment that is held to maturity, a valuation allowance is measured based upon the excess of the recorded investment amount over the net fair value of the collateral. Any deficiency between the carrying amount of an asset and the calculated value of the collateral is charged to expense. We continue to assess or adjust our estimates based on circumstances of a loan and the underlying collateral. If the additional information obtained reflects increased recovery of our investment, we will adjust our reserves accordingly. There were no loan reserves recorded during each of the three and nine months ended September 30, 2014 and 2013.

Debt and preferred equity investments held for sale are carried at the lower of cost or fair market value using available market information obtained through consultation with dealers or other originators of such investments as well as discounted cash flow models based on Level 3 data pursuant to ASC 820-10. As circumstances change, management may conclude not to sell an investment designated as held for sale. In such situations, the investment will be reclassified at its net carrying value to debt and preferred equity investments held to maturity. For these reclassified investments, the difference between the current carrying value and the expected cash to be collected at maturity will be accreted into income over the remaining term of the investment.

Income Taxes

SL Green is taxed as a REIT under Section 856(c) of the Code. As a REIT, SL Green generally is not subject to Federal income tax. To maintain its qualification as a REIT, SL Green must distribute at least 90% of its REIT taxable income to its stockholders and meet certain other requirements. If SL Green fails to qualify as a REIT in any taxable year, we will be subject to Federal income tax on SL Green's taxable income at regular corporate rates. SL Green may also be subject to certain state, local and franchise taxes. Under certain circumstances, Federal income and excise taxes may be due on SL Green's undistributed taxable income.

The Operating Partnership is a partnership and, as a result, all income and losses of the partnership are allocated to the partners for inclusion in their respective income tax returns. The only provision for income taxes included in the consolidated statements of income relates to the Operating Partnership’s consolidated taxable REIT subsidiaries. The Operating Partnership may also be subject to certain state, local and franchise taxes.

Pursuant to amendments to the Code that became effective January 1, 2001, we have elected, and may elect in the future, to treat certain of our existing or newly created corporate subsidiaries as taxable REIT subsidiaries, or TRSs. In general, a TRS may perform non-customary services for the tenants of the Company, hold assets that we cannot hold directly and generally may engage in any real estate or non-real estate related business. The TRSs generate income, resulting in Federal and state income tax liability for these entities.

During the three and nine months ended September 30, 2014 and 2013, we recorded a Federal, state and local tax provision of $1.6 million, $6.6 million, $2.1 million and $6.0 million, respectively.

We follow a two-step approach for evaluating uncertain tax positions. Recognition (step one) occurs when an enterprise concludes that a tax position, based solely on its technical merits, is more-likely-than-not to be sustained upon examination. Measurement (step two) determines the amount of benefit that is more-likely-than-not to be realized upon settlement. Derecognition of a tax position that was previously recognized would occur when a company subsequently determines that a tax position no longer meets the more-likely-than-not threshold of being sustained. The use of a valuation allowance as a substitute for derecognition of tax positions is prohibited.

Stock-Based Employee Compensation Plans

We have a stock-based employee compensation plan, described more fully in Note 14, "Share-based Compensation."

The Company's stock options are recorded at fair value at the time of issuance. Fair value of the stock options is determined using the Black-Scholes option pricing model. The Black-Scholes model was developed for use in estimating the fair value of traded options, which have no vesting restrictions and are fully transferable. In addition, option valuation models require the input of highly subjective assumptions including the expected stock price volatility. Because our plan has characteristics significantly different from those of traded options and because changes in the subjective input assumptions can materially affect the fair value estimate, in our opinion, the existing models do not necessarily provide a reliable single measure of the fair value of the employee stock options.

Compensation cost for stock options, if any, is recognized ratably over the vesting period of the award. Our policy is to grant options with an exercise price equal to the quoted closing market price of the Company's common stock on the grant date. Awards of stock or restricted stock are expensed as compensation over the benefit period based on the fair value of the stock on the grant date.

For share-based awards with a performance or market measure, we recognize compensation cost over the requisite service period, using the accelerated attribution expense method. The requisite service period begins on the date the compensation committee of SL Green's board of directors authorizes the award, adopts any relevant performance measures and communicates the award to the employees. For programs with performance measures, the total estimated compensation cost is based on the fair value of the award at the applicable reporting date estimated using a binomial model. For share-based awards for which there is no pre-established performance measure, we recognize compensation cost over the service vesting period, which represents the requisite service period, on a straight-line basis. In accordance with the provisions of our share-based incentive compensation plans, we accept the return of shares of the Company's common stock, at the current quoted market price, from certain key employees to satisfy minimum statutory tax-withholding requirements related to shares that vested during the period.

Awards can also be made in the form of a separate series of units of limited partnership interest in the Operating Partnership called long-term incentive plan units, or LTIP units. LTIP units, which can be granted either as free-standing awards or in tandem with other awards under our stock incentive plan, are valued by reference to the value of the Company's common stock at the time of grant, and are subject to such conditions and restrictions as the compensation committee of the Company's board of directors may determine, including continued employment or service, computation of financial metrics and/or achievement of pre-established performance goals and objectives.

Earnings per Share of the Company

The Company presents both basic and diluted earnings per share, or EPS. Basic EPS excludes dilution and is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding during the period. Basic EPS includes participating securities, consisting of unvested restricted stock that receive nonforfeitable dividends similar to shares of common stock. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, where such exercise or conversion would result in a lower EPS amount. Diluted EPS also includes units of limited partnership interest. The dilutive effect of stock options is reflected in the weighted average diluted outstanding shares calculation by application of the treasury stock method. There is no dilutive effect for the exchangeable senior notes as the conversion premium will be paid in cash.

Earnings per Unit of the Operating Partnership

The Operating Partnership presents both basic and diluted earnings per unit, or EPU. Basic EPU excludes dilution and is computed by dividing net income attributable to common unitholders by the weighted average number of common units outstanding during the period. Basic EPU includes participating securities, consisting of unvested restricted units that receive nonforfeitable dividends similar to shares of common units. Diluted EPU reflects the potential dilution that could occur if securities or other contracts to issue common units were exercised or converted into common units, where such exercise or conversion would result in a lower EPU amount. The dilutive effect of unit options is reflected in the weighted average diluted outstanding units calculation by application of the treasury stock method. There is no dilutive effect for the exchangeable senior notes as the conversion premium will be paid in cash.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Concentrations of Credit Risk

Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash investments, debt and preferred equity investments and accounts receivable. We place our cash investments in excess of insured amounts with high quality financial institutions. The collateral securing our debt and preferred equity investments is primarily located in New York City. See Note 5, "Debt and Preferred Equity Investments." We perform ongoing credit evaluations of our tenants and require most tenants to provide security deposits or letters of credit. Though these security deposits and letters of credit are insufficient to meet the total value of a tenant's lease obligation, they are a measure of good faith and a source of funds to offset the economic costs associated with lost rent and the costs associated with re-tenanting a space. Although the properties in our real estate portfolio are primarily located in Manhattan, we also have properties located in Brooklyn, Long Island, Westchester County, Connecticut and Northern New Jersey. The tenants located in our buildings operate in various industries. Other than three tenants who account for 11.0%, 7.3% and 5.6% of our share of annualized cash rent, respectively, no other tenant in our portfolio accounted for more than 2.0% of our annualized cash rent, including our share of joint venture annualized rent, for the three months ended September 30, 2014. For the three months ended September 30, 2014, 9.7%, 9.4% and 7.4% of our annualized cash rent for consolidated properties was attributable to 1515 Broadway, 388-390 Greenwich Street and 1185 Avenue of the Americas, respectively. In addition, one of our preferred equity investments accounted for 13.2% of the income earned on debt and preferred equity investments during the three months ended September 30, 2014.

Reclassification

Certain prior year balances have been reclassified to conform to our current year presentation primarily in order to eliminate discontinued operations from income from continuing operations.

Accounting Standards Updates

In June 2014, the Financial Accounting Standards Board, or the FASB, issued final guidance that requires repurchase-to-maturity transactions to be accounted for as secured borrowings as if the transferor retains effective control, even though the transferred financial assets are not returned to the transferor at settlement and also eliminates existing guidance for repurchase financings (Accounting Standards Update, or ASU, No. 2014-11). New disclosures are required for (1) certain transactions accounted for as secured borrowings and (2) transfers accounted for as sales when the transferor also retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The guidance is effective for the first interim or annual period beginning after December 15, 2014, except for the disclosures related to transactions accounted for as secured borrowings, which are effective for periods beginning after March 15, 2015. Early adoption of this guidance is prohibited. The Company will adopt this standard beginning in the first quarter of 2015. The adoption of this guidance is not anticipated to have a material impact on our consolidated financial statements.

In May 2014, the FASB issued a new comprehensive revenue recognition guidance which requires us to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods and services (ASU No. 2014-09). The guidance also requires enhanced disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The guidance is effective for annual and interim periods beginning after December 15, 2016 and early adoption is not permitted. The new guidance can be applied either retrospectively to each prior reporting period presented, or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the new guidance to determine the impact it may have on our consolidated financial statements.

In April 2014, the FASB issued new guidance on reporting discontinued operations which raises the threshold for disposals to qualify as discontinued operations (ASU No. 2014-08). The guidance also allows us to have a significant continuing involvement and continuing cash flows with the discontinued operations. Additionally, the guidance requires additional disclosures for discontinued operations and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. The guidance is effective for calendar year public companies beginning in the first quarter of 2015 and is to be applied on a prospective basis for new disposals. Early adoption of this guidance is permitted. The Company will adopt this standard beginning in the first quarter of 2015. The adoption of this guidance will change the presentation of discontinued operations but will not have a material impact on our consolidated financial statements.

Property Acquisitions

9 Months Ended

Sep. 30, 2014

Business Combinations [Abstract]

Property Acquisitions

In September 2014, we acquired the fee interest at 635 Madison Avenue for $153.7 million. We are currently in the process of analyzing the purchase price allocation and, as such, we have not allocated any value to intangible assets.

In August 2014, we acquired the fee ownership position in 752 Madison Avenue for $282.4 million. Previously, in January 2012, a separate joint venture in which an SL Green entity holds an 80% interest acquired the ground tenancy position. We are currently in the process of analyzing the purchase price allocation and, as such, we have not allocated any value to intangible assets.

In July 2014, we, together with our joint venture partner, acquired the fee interest at 719 Seventh Avenue for $41.1 million. We consolidate this joint venture due to our controlling interest. We are currently in the process of analyzing the purchase price allocation and, as such, we have not allocated any value to intangible assets.

In July 2014, we acquired the retail condominium at 115 Spring Street for $53.1 million. We are currently in the process of analyzing the purchase price allocation and, as such, we have not allocated any value to intangible assets.

In May 2014, we acquired Ivanhoe Cambridge, Inc.'s 49.65% economic interest in 388-390 Greenwich Street, thereby consolidating full ownership of the property. The transaction valued the consolidated interests at $1.585 billion. This valuation was based on a negotiated sales agreement which took into consideration the recent extension of the existing triple net lease. Simultaneous with the closing, we refinanced the existing $1.1 billion mortgage with a four-year $1.5 billion mortgage, which bears interest at 175 basis points over LIBOR. We also assumed the existing derivative instruments, which swapped $504.0 million of the mortgage to fixed rate. We recognized a purchase price fair value adjustment of $71.4 million upon closing of this transaction. This property, which we initially acquired in December 2007, was previously accounted for as an investment in unconsolidated joint ventures. We are currently in the process of analyzing the purchase price allocation and, as such, we have not allocated any value to intangible assets.

In November 2013, we acquired a mixed-use residential and commercial property located at 315 West 33rd Street, New York, New York for $386.8 million. Based on our preliminary analysis of the purchase price, we allocated $116.0 million and $270.8 million to land and building, respectively. During the three months ended March 31, 2014, we finalized the purchase price allocation based on a third party appraisal and additional facts and circumstances that existed at the acquisition date and reclassified $33.2 million and $7.8 million to values for above-market and in-place leases and below-market leases, respectively. These adjustments did not have a material impact to our consolidated statement of income for the nine months ended September 30, 2014.

Pro Forma

The following table summarizes, on an unaudited pro forma basis, the results of operations of 388-390 Greenwich Street, which are included in the consolidated statement of income, and our consolidated results of operations for the three and nine months ended September 30, 2014 and 2013 as though the acquisition of our joint venture partner's interest in 388-390 Greenwich Street was completed on January 1, 2013. The supplemental pro forma data is not necessarily indicative of what the actual results of operations would have been assuming the transactions had been completed as set forth above, nor do they purport to represent our results of operations for future periods.



	Three Months Ended September 30,			Nine Months Ended September 30,
(In thousands, except per share amounts)	2014		2013	2014		2013
Actual revenues since acquisition	$	28,481		$	43,378
Actual net income since acquisition	9,213			86,057
Pro forma revenues	390,393		366,235	1,175,593		1,102,973
Pro forma income from continuing operations	40,576		27,361	255,713		149,764
Pro forma basic earnings per share	0.68		0.44	4.02		1.52
Pro forma diluted earnings per share	0.68		0.44	4.00		1.52
Pro forma basic earnings per unit	0.68		0.44	4.02		1.52
Pro forma diluted earnings per unit	0.68		0.44	4.00		1.52

______________________________________________________________________

(1)

The pro forma income from continuing operations for the three and nine months ended September 30, 2014 and 2013 includes the effect of the new financing necessary to complete the acquisition and the preliminary allocation of purchase price in connection with the changes in depreciation and amortization. In addition, the pro forma income from continuing operations for the nine months ended September 30, 2013 was adjusted to include the purchase price fair value adjustment, as though the acquisition was completed on January 1, 2013. The pro forma income from continuing operations for the three and nine months ended September 30, 2014 excludes this purchase price fair value adjustment.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Properties Held for Sale and Dispositions

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Properties Held for Sale and Dispositions

In September 2014, we, along with our joint venture partner, entered into an agreement to sell the property at 180 Maiden Lane for $470.0 million. This transaction is expected to close during the fourth quarter of 2014, subject to the satisfaction of customary closing conditions.

In June 2014, we entered into a contract to sell our leased fee interest in 2 Herald Square for $365.0 million. This transaction is expected to close during the fourth quarter of 2014, subject to the satisfaction of customary closing conditions.

In July 2014, we sold our fee interest and development rights in 985-987 Third Avenue for $68.7 million and recognized a gain on sale of $29.8 million. The sale was made in conjunction with the sale of an adjacent parcel, which we did not own.

In May 2014, we sold our leasehold interest in 673 First Avenue for $145.0 million and recognized a gain on sale of $117.6 million.

Discontinued operations included the results of operations of real estate assets under contract or sold prior to September 30, 2014. This included 180 Maiden Lane and 2 Herald Square, which were both held for sale at September 30, 2014, 985-987 Third Avenue and 673 First Avenue, which were sold in July 2014 and May 2014, respectively, and 44 West 55th Street, 333 West 34th Street and 300 Main Street, which were sold in February, August, and September of 2013, respectively.

The following table summarizes net income from discontinued operations for the three and nine months ended September 30, 2014 and 2013 (in thousands):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2014			2013		2014		2013
Revenues
Rental revenue, net	$	9,504		$	23,606	$	44,676	$	73,738
Escalation and reimbursement revenues	(194		)	3,748		4,413		11,459
Other income	—			9		21		523
Total revenues	9,310			27,363		49,110		85,720
Operating expenses	773			5,149		7,101		16,624
Real estate taxes	787			4,170		6,618		12,533
Ground rent	—			2,196		3,001		5,778
Interest expense, net of interest income	2,874			4,877		10,983		15,019
Amortization of deferred financing costs	48			210		369		630
Depreciable real estate reserves	—			—		—		2,150
Depreciation and amortization	678			3,311		5,434		13,133
Transaction related costs, net of recoveries	115			15		155		2
Total expenses	5,275			19,928		33,661		65,869
Net income from discontinued operations	$	4,035		$	7,435	$	15,449	$	19,851

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

+ Details

Debt and Preferred Equity Investments

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Debt and Preferred Equity Investments

During the nine months ended September 30, 2014 and 2013, our debt and preferred equity investments, net of discounts and deferred origination fees, increased $476.6 million and $497.4 million, respectively, due to originations, purchases, accretion of reserves, discounts and paid-in-kind interest. We recorded repayments, participations and sales of $348.5 million and $530.2 million during the nine months ended September 30, 2014 and 2013, respectively, which offset the increases in debt and preferred equity investments.

Debt Investments

As of September 30, 2014 and December 31, 2013, we held the following debt investments with an aggregate weighted average current yield of 10.72% at September 30, 2014 (in thousands):



Loan Type	September 30, 2014 Funding Obligations		September 30, 2014 Senior Financing		September 30, 2014 Carrying Value(1)		December 31, 2013 Carrying Value(1)		Initial Maturity Date
Fixed Rate Investments:
Jr. Mortgage Participation	$	—	$	398,500	$	11,913	$	11,856	March 2015
Jr. Mortgage Participation/Mezzanine Loan	—		205,000		70,080		68,319		February 2016
Jr. Mortgage Participation/Mezzanine Loan	—		164,744		45,355		44,742		May 2016
Mezzanine Loan	—		177,000		14,298		15,012		May 2016
Jr. Mortgage Participation	—		133,000		49,000		49,000		June 2016
Mezzanine Loan	—		165,000		71,592		71,312		November 2016
Jr. Mortgage Participation/Mezzanine Loan⁽²⁾	—		1,109,000		97,101		26,884		March 2017
Other⁽²⁾	—		—		65,674		54,099		March 2017
Mezzanine Loan⁽³⁾	19,555		521,750		21,456		20,954		June 2017
Mezzanine Loan	—		539,000		50,412		—		July 2018
Mortgage Loan⁽⁴⁾	—		—		26,196		—		February 2019
Mortgage Loan	—		—		667		—		August 2019
Mezzanine Loan	—		15,000		3,500		3,500		September 2021
Mezzanine Loan⁽⁵⁾	—		90,000		19,929		19,926		November 2023
Total fixed rate	$	19,555	$	3,517,994	$	547,173	$	385,604
Floating Rate Investments:
Mezzanine Loan	15,309		50,000		29,650		—		April 2015
Mortgage/Mezzanine Loan	—		—		109,252		—		June 2015
Mezzanine Loan	—		110,000		49,482		49,110		September 2015
Mezzanine Loan	8,262		110,295		41,675		27,662		December 2015
Mezzanine Loan	—		775,000		73,602		72,823		March 2016
Mezzanine Loan⁽⁶⁾	—		160,000		22,561		22,526		June 2016
Mezzanine Loan	—		115,000		24,909		25,590		July 2016
Mezzanine Loan	8,448		172,105		28,855		25,725		November 2016
Mezzanine Loan	333		33,833		11,825		11,798		December 2016
Mortgage/Mezzanine Loan	3,130		109,351		38,186		—		July 2017
Mortgage/Mezzanine Loan	—		—		22,786		—		July 2017
Mortgage/Mezzanine Loan	—		—		16,835		—		September 2017
Jr. Mortgage Participation/Mezzanine Loan	—		55,000		20,538		20,553		July 2018
Mortgage/Mezzanine Loan	—		—		17,996		—		February 2019
Mezzanine Loan	—		38,000		21,798		—		March 2019
Mortgage Loan⁽⁷⁾	—		—		—		30,000
Jr. Mortgage Participation⁽⁸⁾	—		—		—		24,046



Loan Type	September 30, 2014 Funding Obligations		September 30, 2014 Senior Financing		September 30, 2014 Carrying Value(1)		December 31, 2013 Carrying Value(1)			Initial Maturity Date
Jr. Mortgage Participation/Mezzanine Loan⁽⁸⁾	—		—		—		131,724
Mezzanine Loan⁽⁹⁾	—		—		—		59,892
Jr. Mortgage Participation⁽⁹⁾	—		—		—		10,873
Mezzanine Loan⁽⁹⁾	—		—		—		38,549
Total floating rate	$	35,482	$	1,728,584	$	529,950	$	550,871
Total	$	55,037	$	5,246,578	1,077,123		936,475
Loan loss reserve					—		(1,000		)
Total					$	1,077,123	$	935,475

______________________________________________________________________


(1)	Carrying value is net of discounts, original issue discounts and deferred origination fees.

(2)

During the three months ended March 31, 2014, we recognized $10.1 million of previously unaccrued interest income as deemed collectible as a result of the subsequent sale of the property, which closed in June 2014. In connection with the sale of the underlying property, our existing $66.7 million mezzanine loan was defeased and is now shown separately, as it is collateralized by defeasance securities. The buyer assumed our $30.0 million participating interest on the mortgage and we acquired a $67.3 million participating interest on the mezzanine loan.


(3)	Carrying value is net of $41.3 million that was participated out, which is included in other assets and other liabilities on the consolidated balance sheets as a result of the transfer not meeting the conditions for sale accounting.


(4)	In September 2014, we acquired a $26.4 million mortgage loan at a $0.2 million discount and a $5.7 million junior mortgage participation at a $5.7 million discount. The junior mortgage participation was a nonperforming loan at acquisition and is currently on a non-accrual status.


(5)	Carrying value is net of $5.0 million that was participated out, which is included in other assets and other liabilities on the consolidated balance sheets as a result of the transfer not meeting the conditions for sale accounting.


(6)	Carrying value is net of $7.4 million that was participated out, which is included in other assets and other liabilities on the consolidated balance sheets as a result of the transfer not meeting the conditions for sale accounting.


(7)	This loan was repaid in May 2014.


(8)	This loan was repaid in July 2014.


(9)	This loan was repaid in August 2014.

Preferred Equity Investments

As of September 30, 2014 and December 31, 2013, we held the following preferred equity investments with an aggregate weighted average current yield of 9.76% at September 30, 2014 (in thousands):



Type	September 30, 2014 Senior Financing		September 30, 2014 Carrying Value (1)		December 31, 2013 Carrying Value (1)		Initial Mandatory Redemption
Preferred equity⁽²⁾	$	550,000	$	121,158	$	115,198	July 2015
Preferred equity⁽²⁾	926,260		224,720		218,330		July 2016
Preferred equity	70,000		9,950		9,940		November 2017
Preferred equity⁽³⁾	—		—		25,896
	$	1,546,260	$	355,828	$	369,364

______________________________________________________________________


(1)	Carrying value is net of discounts and deferred origination fees.


(2)	The difference between the pay and accrual rates is included as an addition to the principal balance outstanding.


(3)	This preferred equity investment was redeemed in April 2014.

The following table is a rollforward of our total loan loss reserves at September 30, 2014 and December 31, 2013 (in thousands):



	September 30, 2014			December 31, 2013
Balance at beginning of year	$	1,000		$	7,000
Expensed	—			—
Recoveries	—			—
Charge-offs and reclassifications	(1,000		)	(6,000		)
Balance at end of period	$	—		$	1,000

At September 30, 2014 and December 31, 2013, all debt and preferred equity investments were performing in accordance with the terms of the relevant investments, except for the nonperforming loan acquired in September 2014 as noted in the debt investments table above.

We have determined that we have one portfolio segment of financing receivables at September 30, 2014 and December 31, 2013 comprising commercial real estate which is primarily recorded in debt and preferred equity investments. Included in other assets is an additional amount of financing receivables totaling $132.6 million and $172.8 million at September 30, 2014 and December 31, 2013, respectively. No financing receivables were 90 days past due at September 30, 2014.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Investment in Unconsolidated Joint Ventures

9 Months Ended

Sep. 30, 2014

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Joint Ventures

Investments in Unconsolidated Joint Ventures

We have investments in several real estate joint ventures with various partners, including Ivanhoe Cambridge, Inc., formerly SITQ Immobilier, a subsidiary of Caisse de depot et placement du Quebec, SITQ, Canada Pension Plan Investment Board, or CPPIB, Prudential Real Estate Investors, or Prudential, Onyx Equities, or Onyx, The Witkoff Group, or Witkoff, Credit Suisse Securities (USA) LLC, or Credit Suisse, Jeff Sutton, or Sutton, Harel Insurance and Finance, or Harel, Louis Cappelli, or Cappelli, The Moinian Group, or Moinian, Vornado Realty Trust (NYSE: VNO), or Vornado, Plaza Global Real Estate Partners LP, or Plaza, Lehman Bros., as well as private investors. All the investments below are voting interest entities, except for 650 Fifth Avenue, 33 Beekman and 3 Columbus Circle which are VIEs in which we are not the primary beneficiary as of September 30, 2014 and December 31, 2013. Prior to the acquisition of our joint venture partner's interest in May 2014, 388-390 Greenwich was also a VIE. Prior to the sale of the property in September 2014, 180-182 Broadway was a VIE. Our net equity investment in these VIEs was $174.4 million and $310.7 million at September 30, 2014 and December 31, 2013, respectively. As we do not control the joint ventures listed below, we account for them under the equity method of accounting.

The table below provides general information on each of our joint ventures as of September 30, 2014 (amounts in thousands):



Property	Partner	Ownership Interest	Economic Interest	Square Feet	Acquisition Date	Acquisition Price⁽¹⁾
100 Park Avenue	Prudential	49.90%	49.90%	834	January 2000	$	95,800
717 Fifth Avenue	Sutton/Private Investor	10.92%	10.92%	120	September 2006	251,900
800 Third Avenue	Private Investors	42.95%	42.95%	526	December 2006	285,000
1745 Broadway	Witkoff/SITQ/Lehman Bros.	32.26%	32.26%	674	April 2007	520,000
1 and 2 Jericho Plaza	Onyx/Credit Suisse	20.26%	20.26%	640	April 2007	210,000
The Meadows	Onyx	50.00%	50.00%	582	September 2007	111,500
600 Lexington Avenue	CPPIB	55.00%	55.00%	304	May 2010	193,000
11 West 34th Street	Private Investor/Sutton	30.00%	30.00%	17	December 2010	10,800
7 Renaissance	Cappelli	50.00%	50.00%	37	December 2010	4,000
3 Columbus Circle⁽²⁾	Moinian	48.90%	48.90%	769	January 2011	500,000
280 Park Avenue	Vornado	50.00%	49.50%	1,237	March 2011	400,000
1552-1560 Broadway⁽³⁾	Sutton	50.00%	50.00%	49	August 2011	136,550
724 Fifth Avenue	Sutton	50.00%	50.00%	65	January 2012	223,000
10 East 53rd Street	CPPIB	55.00%	55.00%	390	February 2012	252,500
33 Beekman⁽⁴⁾	Harel/Naftali	45.90%	45.90%	145	August 2012	31,000
521 Fifth Avenue	Plaza	50.50%	50.50%	460	November 2012	315,000
21 East 66th Street⁽⁵⁾	Private Investors	32.28%	32.28%	17	December 2012	75,000
315 West 36th Street	Private Investors	35.50%	35.50%	148	December 2012	45,000
650 Fifth Avenue⁽⁶⁾	Sutton	50.00%	50.00%	32	November 2013	—
121 Greene Street	Sutton	50.00%	50.00%	7	September 2014	28,200

______________________________________________________________________


(1)	Acquisition price represents the actual or implied gross purchase price for the joint venture.


(2)	As a result of the sale of a condominium interest in September 2012, Young & Rubicam, Inc., or Y&R, owns a portion of the property, generally floors three through eight referred to as Y&R units. Because the joint venture has an option to repurchase the Y&R units, the gain associated with this sale was deferred.


(3)	The purchase price pertained only to the purchase of the 1552 Broadway interest which comprised 13,045 square feet. The joint venture also owns a long-term leasehold interest in the retail space and certain other spaces at 1560 Broadway, which is adjacent to 1552 Broadway.


(4)	The joint venture owns a fee interest in the property and will develop an approximately 30 story building for student housing. Upon completion of the development, the joint venture will convey a long-term ground lease condominium interest in the building to Pace.


(5)	We hold a 32.28% interest in three retail and two residential units at the property and a 16.14% interest in four residential units at the property.

(6)

The joint venture owns a long-term leasehold interest in the retail space at 650 Fifth Avenue. In connection with the ground lease obligation, SLG provided a performance guaranty and Sutton executed a contribution agreement to reflect its pro rata obligation. In the event the property is converted into a condominium unit and the landlord elects the purchase option, the joint venture shall be obligated to acquire the unit at the then fair value. In October 2014, the joint venture closed on a $97.0 million floating rate leasehold mortgage with an initial funding of $65.0 million.

In September 2014, we, along with our joint venture partners, sold all our interests in 180 Broadway, including the underlying property at an implied gross valuation of $222.5 million. We recognized a promote of $3.3 million and a gain of $16.5 million on the sale of the property.

In May 2014, we sold our 33.33% partnership interest in the joint venture which owns 100% interest as tenant-in-common in 30 East 65th Street Corporation and the related proprietary lease of five cooperative apartment units in the property located at 747 Madison Avenue at an implied gross valuation of $160.0 million, inclusive of the $33.1 million mortgage encumbering the property. We recognized a promote of $10.3 million and originated a $30.0 million preferred equity investment. Given our continuing involvement as a preferred equity holder, we deferred the gain on sale of $13.1 million as we did not meet the requisites of a sale under the full accrual method. We, along with our joint venture partners, retained one apartment unit at this property.

In March 2014, we sold our 43.74% economic ownership interest in the joint venture which holds the West Coast Office portfolio at an implied gross valuation of $756.0 million, inclusive of the $526.3 million mortgage encumbering the property. We recognized a gain of $85.5 million on the sale of our investment.

In March 2014, we closed on the origination of a $100.0 million acquisition and equity participating financing consisting of a $60.0 million mezzanine loan and a $40.0 million preferred equity, which are both due to mature in March 2016, subject to three one-year extension options and a two-year option for the last extension. These loans, which were previously accounted for as debt and preferred equity investments, were reclassified to investments in unconsolidated joint ventures as a result of meeting the criteria of a real estate investment under the guidance for ADC arrangements. We have accounted for this wholly-owned investment under the equity method of accounting.

In January 2014, we sold our 49.90% partnership interest in the joint venture which holds 21-25 West 34th Street at an implied gross valuation of $114.9 million, inclusive of the $100.0 million mortgage encumbering the property. We recognized a gain of $20.9 million on the sale of our investment. We, along with our joint venture partner, retained approximately 91,300 square feet of development rights at this property.

We generally finance our joint ventures with non-recourse debt. However, in certain cases we have provided guarantees or master leases for tenant space. These guarantees and master leases terminate upon the satisfaction of specified circumstances or repayment of the underlying loans. The senior mortgage notes and other loans payable collateralized by the respective joint venture properties and assignment of leases at September 30, 2014 and December 31, 2013, respectively, are as follows (amounts in thousands):



Property	Maturity Date	Interest Rate(1)		September 30, 2014		December 31, 2013
Fixed Rate Debt:
7 Renaissance	December 2015	10.00	%	$	1,868	$	1,276
11 West 34th Street	January 2016	4.82	%	16,982		17,205
280 Park Avenue	June 2016	6.57	%	701,928		706,886
1745 Broadway	January 2017	5.68	%	340,000		340,000
1 and 2 Jericho Plaza	May 2017	5.65	%	163,750		163,750
800 Third Avenue	August 2017	6.00	%	20,910		20,910
315 West 36th Street	December 2017	3.16	%	25,000		25,000
717 Fifth Avenue⁽²⁾	July 2022	4.45	%	300,000		300,000
21 East 66th Street	April 2023	3.60	%	12,000		12,000
717 Fifth Avenue⁽²⁾	July 2024	9.00	%	311,698		304,000
388 and 390 Greenwich Street⁽³⁾	—	—		—		996,082
100 Park Avenue⁽⁴⁾	—	—		—		209,786
21 West 34th Street⁽⁵⁾	—	—		—		100,000
1604-1610 Broadway⁽⁶⁾	—	—		—		27,000
Total fixed rate debt				$	1,894,136	$	3,223,895
Floating Rate Debt:
The Meadows	September 2015	7.75	%	67,350		67,350
3 Columbus Circle⁽⁷⁾	April 2016	2.34	%	233,058		239,233
1552 Broadway⁽⁸⁾	April 2016	4.21	%	180,885		158,690
Other loan payable	June 2016	1.06	%	30,000		30,000
10 East 53rd Street	February 2017	2.66	%	125,000		125,000
724 Fifth Avenue⁽⁹⁾	April 2017	2.58	%	275,000		120,000
33 Beekman⁽¹⁰⁾	August 2017	2.91	%	43,707		18,362
600 Lexington Avenue	October 2017	2.24	%	117,717		120,616
521 Fifth Avenue	November 2019	2.36	%	170,000		170,000
100 Park Avenue⁽⁴⁾	February 2021	1.91	%	360,000		—
21 East 66th Street	June 2033	2.88	%	1,902		1,959
388 and 390 Greenwich Street⁽³⁾	—	—		—		142,297
747 Madison Avenue	—	—		—		33,125
West Coast Office portfolio⁽¹¹⁾	—	—		—		526,290
180/182 Broadway⁽¹²⁾	—	—		—		89,893
Total floating rate debt				$	1,604,619	$	1,842,815
Total joint venture mortgages and other loans payable				$	3,498,755	$	5,066,710

_________________________________


(1)	Effective weighted average interest rate for the three months ended September 30, 2014, taking into account interest rate hedges in effect during the period.


(2)	These loans are comprised of a $300.0 million fixed rate mortgage loan and $290.0 million mezzanine loan. The mezzanine loan is subject to accretion based on the difference between contractual interest rate and contractual pay rate.


(3)	In May 2014, we acquired the interest of our joint venture thereby consolidating the entity. Simultaneous with the acquisition, we refinanced the mortgage and incurred a net loss on early extinguishment of debt of $2.4 million.


(4)	In February 2014, the joint venture replaced the previous fixed rate mortgage with a $360.0 million, seven-year floating rate, mortgage and incurred a net loss on early extinguishment of $3.2 million.


(5)	In January 2014, we sold our interest in the joint venture, inclusive of our share of the joint venture debt.


(6)	This loan was in default since November 2009 due to the non-payment of debt service. In January 2014, the joint venture relinquished its ground lease position to the lender. During the nine months ended September 30, 2014, we recognized $7.7 million of incentive income, which is included in other income on the consolidated statements of income.

(7)

The joint venture has the ability to increase the mortgage by $40.0 million based on meeting certain performance hurdles. In connection with this obligation, we executed a master lease agreement and our joint venture partner executed a contribution agreement to reflect its pro rata obligation under the master lease. The lien on the mortgage and the master lease excludes the condominium interest owned by Y&R. See Note 2 of prior table.


(8)	These loans are comprised of a $150.0 million mortgage loan and a $41.5 million mezzanine loan and are subject to two one-year extension options. As of September 30, 2014, $5.7 million of the mortgage loan and $4.9 million of the mezzanine loan remained unfunded.


(9)	In April 2014, the joint venture refinanced the previous mortgage with a $235.0 million mortgage and a $40.0 million mezzanine loan and incurred a net loss on early extinguishment of debt of $1.2 million.


(10)	This loan has a committed amount of $75.0 million, which is recourse to us. Our partner has indemnified us for its pro rata share of the recourse guarantee. A portion of the guarantee terminates upon the joint venture reaching certain milestones. We believe it is unlikely that we will be required to perform under this guarantee.


(11)	In March 2014, we sold our interest in the joint venture, inclusive of our share in the joint venture debt.


(12)	In September 2014, the joint venture sold the property and repaid the debt.

We act as the operating partner and day-to-day manager for all our joint ventures, except for 800 Third Avenue, 1 and 2 Jericho Plaza, 280 Park Avenue, 3 Columbus Circle and The Meadows. We are entitled to receive fees for providing management, leasing, construction supervision and asset management services to our joint ventures. We earned $3.8 million, $15.0 million, $3.5 million and $7.5 million from these services for the three and nine months ended September 30, 2014 and 2013, respectively. In addition, we have the ability to earn incentive fees based on the ultimate financial performance of certain of the joint venture properties.

The combined balance sheets for the unconsolidated joint ventures, at September 30, 2014 and December 31, 2013, are as follows (in thousands):



	September 30, 2014		December 31, 2013
Assets
Commercial real estate property, net	$	4,850,149	$	6,846,021
Other assets	746,234		827,282
Total assets	$	5,596,383	$	7,673,303
Liabilities and members' equity
Mortgages and other loans payable	$	3,498,755	$	5,066,710
Other liabilities	474,427		596,960
Members' equity	1,623,201		2,009,633
Total liabilities and members' equity	$	5,596,383	$	7,673,303
Company's investments in unconsolidated joint ventures	$	996,842	$	1,113,218

The combined statements of income for the unconsolidated joint ventures, from acquisition date through the three and nine months ended September 30, 2014 and 2013 are as follows (in thousands):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2014		2013			2014			2013
Total revenues	$	114,831	$	156,571		$	406,464		$	462,776
Operating expenses	18,530		29,211			63,575			86,027
Ground rent	2,638		657			7,295			1,972
Real estate taxes	15,867		19,105			48,209			53,368
Interest expense, net of interest income	40,885		56,169			137,949			169,137
Amortization of deferred financing costs	2,837		2,869			9,496			12,454
Transaction related costs, net of recoveries	501		—			565			—
Depreciation and amortization	28,324		49,402			107,786			144,552
Total expenses	109,582		157,413			374,875			467,510
Loss on early extinguishment of debt	—		—			(6,743		)	—
Net income (loss) before gain on sale	$	5,249	$	(842	)	$	24,846		$	(4,734	)
Company's equity in net income from unconsolidated joint ventures	$	6,034	$	2,939		$	20,781		$	4,251

Deferred Costs

9 Months Ended

Sep. 30, 2014

Deferred Costs [Abstract]

Deferred Costs

Deferred costs at September 30, 2014 and December 31, 2013 consisted of the following (in thousands):



	September 30, 2014			December 31, 2013
Deferred leasing	$	353,316		$	326,379
Deferred financing	199,081			157,088
	552,397			483,467
Less accumulated amortization	(241,537		)	(216,409		)
Deferred costs, net	$	310,860		$	267,058

Mortgages and Other Loans Payable

9 Months Ended

Sep. 30, 2014

Mortgages and Other Loans Payable

Mortgages and Other Loans Payable

The first mortgages and other loans payable collateralized by the respective properties and assignment of leases at September 30, 2014 and December 31, 2013 were as follows (amounts in thousands):



Property	Maturity Date	Interest Rate(1)		September 30, 2014		December 31, 2013
Fixed Rate Debt:
125 Park Avenue⁽²⁾	October 2014	5.75	%	$	146,250	$	146,250
711 Third Avenue	June 2015	4.99	%	120,000		120,000
625 Madison Avenue	November 2015	7.27	%	116,383		120,830
500 West Putnam Avenue	January 2016	5.52	%	23,112		23,529
Landmark Square	December 2016	4.00	%	81,685		82,909
485 Lexington Avenue	February 2017	5.61	%	450,000		450,000
120 West 45th Street	February 2017	6.12	%	170,000		170,000
762 Madison Avenue	February 2017	3.75	%	8,087		8,211
2 Herald Square⁽³⁾	April 2017	5.36	%	191,250		191,250
885 Third Avenue	July 2017	6.26	%	267,650		267,650
388-390 Greenwich Street⁽⁴⁾	June 2018	3.80	%	504,000		—
Other loan payable⁽⁵⁾	September 2019	8.00	%	50,000		50,000
One Madison Avenue	May 2020	5.91	%	571,284		587,336
100 Church	July 2022	4.68	%	229,472		230,000
919 Third Avenue⁽⁶⁾	June 2023	5.12	%	500,000		500,000
400 East 57th Street	February 2024	4.13	%	69,201		70,000
400 East 58th Street	February 2024	4.13	%	29,658		30,000
420 Lexington Avenue⁽⁷⁾	October 2024	6.77	%	300,000		182,641
1515 Broadway	March 2025	3.93	%	900,000		900,000
Series J Preferred Units⁽⁸⁾	April 2051	3.75	%	4,000		—
609 Partners, LLC⁽⁹⁾	—	—		—		23
Total fixed rate debt				$	4,732,032	$	4,130,629
Floating Rate Debt:
Master repurchase agreement⁽¹⁰⁾	December 2014	3.37	%	100,000		91,000
180 Maiden Lane⁽¹¹⁾	November 2016	2.34	%	256,152		262,706
388-390 Greenwich Street⁽⁴⁾	June 2018	1.91	%	946,000		—
248-252 Bedford Avenue⁽¹²⁾	June 2019	1.66	%	29,000		22,000
220 East 42nd Street	October 2020	1.76	%	275,000		275,000
16 Court Street⁽¹³⁾	0	0		—		79,243
Total floating rate debt				$	1,606,152	$	729,949
Total mortgages and other loans payable⁽¹⁴⁾				$	6,338,184	$	4,860,578

_________________________________


(1)	Effective weighted average interest rate for the three months ended September 30, 2014, taking into account interest rate hedges in effect during the period.


(2)	This loan was repaid at maturity.


(3)	This property is held for sale at September 30, 2014 and the related mortgage is included in liabilities related to assets held for sale.


(4)	Simultaneous with the acquisition of our joint venture partner's interest, we refinanced the $1.1 billion floating rate mortgage with a $1.5 billion seven-year floating rate mortgage, and have consolidated the property.


(5)	This loan is secured by a portion of a preferred equity investment.


(6)	We own a 51.0% controlling interest in the joint venture that is the borrower on this loan.


(7)	In September 2014, we refinanced the $181.0 million fixed rate mortgage with a $300.0 million 10-year fixed rate mortgage and incurred a loss on early extinguishment of debt of $24.5 million, which consisted mainly of a prepayment penalty fee.

(8)

In connection with the acquisition of a commercial real estate property, the Operating Partnership issued $4.0 million or 4,000 3.75% Series J Preferred Units of limited partnership interest, of the Series J Preferred Units, with a mandatory liquidation preference of $1,000.00 per unit. The Series J Preferred Units can be redeemed in cash by the Operating Partnership on the earlier of (i) the date of the sale of the property or (ii) April 30, 2051 or at the option of the unitholders as further prescribed in the related agreement.


(9)	In April 2014, the remaining 22,658 Series E Preferred Units of the Operating Partnership were canceled.


(10)	The Master Repurchase Agreement, or MRA, has a maximum facility capacity of $300.0 million.


(11)	In connection with this consolidated joint venture obligation, we executed a master lease agreement. Our partner has executed a contribution agreement to reflect its pro rata share of the obligation under the master lease. This property is held for sale at September 30, 2014 and the related mortgage is included in liabilities related to assets held for sale.


(12)	In June 2014, we replaced the previous floating rate mortgage with a $29.0 million, five-year floating rate mortgage and incurred a net loss on early extinguishment of debt of $0.5 million.


(13)	In April 2014, we repaid the loan and incurred a loss on early extinguishment of debt of $0.5 million.


(14)	Includes mortgages related to 2 Herald Square and 180 Maiden, which are currently held for sale.

The gross book value of the properties and debt and preferred equity investments collateralizing the mortgages and other loans payable was $9.5 billion and $8.0 billion at September 30, 2014 and December 31, 2013, respectively.

Corporate Indebtedness

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Corporate Indebtedness

2012 Credit Facility

In March 2014, we entered into an amendment to the $1.6 billion credit facility entered into by the Company in November 2012, or the 2012 credit facility, which, among other things, increased the term loan portion of the 2012 credit facility by $383.0 million to $783.0 million, decreased the interest-rate margin applicable to the term loan facility by 25 basis points and extended the maturity of the term loan portion of the facility from March 30, 2018 to June 30, 2019. The 2012 credit facility, as amended, consists of a $1.2 billion revolving credit facility, or the revolving credit facility, and a $783.0 million term loan facility, or the term loan facility. The revolving credit facility matures in March 2017 and includes two six-month as-of-right extension options, subject to the payment of an extension fee of 10 basis points for each such extension. We also have an option, subject to customary conditions, without the consent of existing lenders, to increase the capacity under the revolving credit facility to $1.5 billion at any time prior to the maturity date for the revolving credit facility, by obtaining additional commitments from our existing lenders and other financial institutions.

The 2012 credit facility bears interest at a spread over LIBOR ranging from (i) 100 basis points to 175 basis points for loans under the revolving credit facility and (ii) 95 basis points to 190 basis points for loans under the term loan facility, in each case based on the credit rating assigned to the senior unsecured long term indebtedness of ROP. At September 30, 2014, the applicable spread was 145 basis points for the revolving credit facility and 140 basis points for the term loan facility. At September 30, 2014, the effective interest rate was 1.61% for the revolving credit facility and 1.64% for the term loan facility. We are required to pay quarterly in arrears a 15 to 35 basis point facility fee on the total commitments under the revolving credit facility based on the credit rating assigned to the senior unsecured long term indebtedness of ROP. As of September 30, 2014, the facility fee was 30 basis points. At September 30, 2014, we had $113.3 million of outstanding letters of credit, $244.0 million drawn under the revolving credit facility and $783.0 million outstanding under the term loan facility, with total undrawn capacity of $0.8 billion under the revolving credit facility.

In connection with the amendment of the 2012 credit facility, we incurred debt origination and other loan costs of $2.8 million. We evaluated the modification pursuant to ASC 470 and determined that the terms of the amendment were not substantially different from the terms of the previous 2012 credit facility. As a result, these deferred costs and the unamortized balance of the costs previously incurred are amortized through the extended maturity date of the term loan facility.

The Company, the Operating Partnership and ROP are all borrowers jointly and severally obligated under the 2012 credit facility. None of our other subsidiaries are obligors under the 2012 credit facility.

The 2012 credit facility includes certain restrictions and covenants (see Restrictive Covenants below).

Senior Unsecured Notes

The following table sets forth our senior unsecured notes and other related disclosures as of September 30, 2014 and December 31, 2013 by scheduled maturity date (amounts in thousands):



Issuance	September 30, 2014 Unpaid Principal Balance		September 30, 2014 Accreted Balance		December 31, 2013 Accreted Balance		Coupon Rate(1)		Effective Rate		Term (in Years)	Maturity Date
March 31, 2006⁽²⁾	$	255,308	$	255,238	$	255,206	6.00	%	6.00	%	10	March 31, 2016
October 12, 2010⁽³⁾	345,000		306,187		297,837		3.00	%	3.00	%	7	October 15, 2017
August 5, 2011⁽⁴⁾	250,000		249,728		249,681		5.00	%	5.00	%	7	August 15, 2018
March 16, 2010⁽⁴⁾	250,000		250,000		250,000		7.75	%	7.75	%	10	March 15, 2020
November 15, 2012⁽⁴⁾	200,000		200,000		200,000		4.50	%	4.50	%	10	December 1, 2022
June 27, 2005⁽²⁾⁽⁵⁾	7		7		7		4.00	%	4.00	%	20	June 15, 2025
March 26, 2007⁽⁶⁾	10,008		10,008		10,701		3.00	%	3.00	%	20	March 30, 2027
August 13, 2004⁽²⁾⁽⁷⁾	—		—		75,898
	$	1,310,323	$	1,271,168	$	1,339,330

_________________________________


(1)	Interest on the senior unsecured notes is payable semi-annually with principal and unpaid interest due on the scheduled maturity dates.


(2)	Issued by ROP.

(3)

Issued by the Operating Partnership. Interest on these exchangeable notes is payable semi-annually on April 15 and October 15. The notes had an initial exchange rate representing an exchange price that was set at a 30.0% premium to the last reported sale price of SL Green's common stock on October 6, 2010, or $85.81. The initial exchange rate is subject to adjustment under certain circumstances. The current exchange rate is 12.0660 shares of SL Green's common stock per $1,000 principal amount of these notes. The notes are senior unsecured obligations of the Operating Partnership and are exchangeable upon the occurrence of specified events and during the period beginning on the twenty-second scheduled trading day prior to the maturity date and ending on the second business day prior to the maturity date, into cash or a combination of cash and shares of SL Green's common stock, if any, at our option. The notes are guaranteed by ROP. On the issuance date, $78.3 million of the debt balance was recorded in equity. As of September 30, 2014, $38.8 million remained to be amortized into the debt balance.


(4)	Issued by the Company, the Operating Partnership and ROP, as co-obligors.

(5)

Exchangeable senior debentures which are currently callable at par. In addition, the debentures can be put to ROP, at the option of the holder at par plus accrued and unpaid interest, on June 15, 2015 and 2020 and upon the occurrence of certain change of control transactions. As a result of the acquisition of all outstanding shares of common stock of Reckson, or the Reckson Merger, the adjusted exchange rate for the debentures is 7.7461 shares of SL Green's common stock per $1,000 of principal amount of debentures and the adjusted reference dividend for the debentures is $1.3491.

(6)

Issued by the Operating Partnership. Interest on these remaining exchangeable notes is payable semi-annually on March 30 and September 30. The notes have an initial exchange rate representing an exchange price that was set at a 25.0% premium to the last reported sale price of the Company's common stock on March 20, 2007, or $173.30. The initial exchange rate is subject to adjustment under certain circumstances. The notes are senior unsecured obligations of the Operating Partnership and are exchangeable upon the occurrence of specified events and during the period beginning on the twenty-second scheduled trading day prior to the maturity date and ending on the second business day prior to the maturity date, into cash or a combination of cash and shares of SL Green's common stock, if any, at our option. The notes are currently redeemable at the Operating Partnership’s option. The Operating Partnership may be required to repurchase the notes on March 30, 2017 and 2022, and upon the occurrence of certain designated events.


(7)	In August 2014, these notes were repaid at maturity.

Restrictive Covenants

The terms of the 2012 credit facility, as amended, and certain of our senior unsecured notes include certain restrictions and covenants which may limit, among other things, our ability to pay dividends, make certain types of investments, incur additional indebtedness, incur liens and enter into negative pledge agreements and dispose of assets, and which require compliance with financial ratios relating to the minimum amount of tangible net worth, a maximum ratio of total indebtedness to total asset value, a minimum ratio of EBITDA to fixed charges, a maximum ratio of secured indebtedness to total asset value and a maximum ratio of unsecured indebtedness to unencumbered asset value. The dividend restriction referred to above provides that, we will not during any time when a default is continuing, make distributions with respect to common stock or other equity interests, except to enable the Company to continue to qualify as a REIT for Federal income tax purposes. As of September 30, 2014, we were in compliance with all such covenants.

Junior Subordinate Deferrable Interest Debentures

In June 2005, the Company and the Operating Partnership issued $100.0 million in unsecured trust preferred securities through a newly formed trust, SL Green Capital Trust I, or the Trust, which is a wholly-owned subsidiary of the Operating Partnership. The securities mature in 2035 and bear interest at a fixed rate of 5.61% for the first ten years ending July 2015. Thereafter, the interest rate will float at three-month LIBOR plus 125 basis points. Interest payments may be deferred for a period of up to eight consecutive quarters if the Operating Partnership exercises its right to defer such payments. The Trust preferred securities are redeemable at the option of the Operating Partnership, in whole or in part, with no prepayment premium. We do not consolidate the Trust even though it is a variable interest entity as we are not the primary beneficiary. Because the Trust is not consolidated, we have recorded the debt on our consolidated balance sheets and the related payments are classified as interest expense.

Principal Maturities

Combined aggregate principal maturities of mortgages and other loans payable, the 2012 credit facility, trust preferred securities, senior unsecured notes and our share of joint venture debt as of September 30, 2014, including as-of-right extension options, were as follows (in thousands):



	Scheduled Amortization		Principal Repayments			Revolving Credit Facility		Trust Preferred Securities		Term Loan and Senior Unsecured Notes		Total		Joint Venture Debt
Remaining 2014	$	11,038	$	146,250		$	—	$	—	$	—	$	157,288	$	2,454
2015	44,701		329,537			—		—		7		374,245		44,446
2016	54,158		338,762		(1)	—		—		255,308		648,228		564,269
2017	61,063		1,086,579		(1)	—		—		355,008		1,502,650		446,950
2018	64,462		—			244,000		—		250,000		558,462		28
Thereafter	274,230		3,927,404			—		100,000		1,233,000		5,534,634		353,580
	$	509,652	$	5,828,532	(1)	$	244,000	$	100,000	$	2,093,323	$	8,775,507	$	1,411,727

________________________________


(1)	Principal repayments include the mortgages at 180 Maiden Lane and 2 Herald Center, which are included in liabilities related to assets held for sale.

Consolidated interest expense, excluding capitalized interest, was comprised of the following (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Interest expense	$	83,158		$	78,770		$	238,285		$	234,303
Interest income	(782		)	(544		)	(1,861		)	(1,441		)
Interest expense, net of interest income	$	82,376		$	78,226		$	236,424		$	232,862
Interest capitalized	$	7,972		$	3,091		$	18,689		$	10,082

Related Party Transactions

9 Months Ended

Sep. 30, 2014

Related Party Transactions

Cleaning/ Security/ Messenger and Restoration Services

Through Alliance Building Services, or Alliance, First Quality Maintenance, L.P., or First Quality, provides cleaning, extermination and related services, Classic Security LLC provides security services, Bright Star Couriers LLC provides messenger services, and Onyx Restoration Works provides restoration services with respect to certain properties owned by us. Alliance is partially owned by Gary Green, a son of Stephen L. Green, the chairman of SL Green's board of directors. In addition, First Quality has the non-exclusive opportunity to provide cleaning and related services to individual tenants at our properties on a basis separately negotiated with any tenant seeking such additional services. The Service Corporation has entered into an arrangement with Alliance whereby it will receive a profit participation above a certain threshold for services provided by Alliance to certain tenants at certain buildings above the base services specified in their lease agreements. Income earned from profit participation, which is included in other income on the consolidated statements of income, was $0.9 million, $2.8 million, $0.8 million and $2.7 million for the three and nine months ended September 30, 2014 and 2013, respectively. We also recorded expenses of $5.9 million, $14.7 million, $5.9 million and $16.0 million for the three and nine months ended September 30, 2014 and 2013, respectively, for these services (excluding services provided directly to tenants).

Marketing Services

A-List Marketing, LLC, or A-List, provides marketing services to us. Deena Wolff, a sister of Marc Holliday, our chief executive officer, is the owner of A-List. We recorded approximately $26,800, $121,600, $50,700 and $158,000 for the three and nine months ended September 30, 2014 and 2013, respectively, for these services.

Leases

Nancy Peck and Company leases 1,003 square feet of space at 420 Lexington Avenue under a lease that ends in August 2015. Nancy Peck and Company is owned by Nancy Peck, the wife of Stephen L. Green. The rent due pursuant to the lease was $35,516 per annum for year one increasing to $40,000 in year seven.

Management Fees

S.L. Green Management Corp., a consolidated entity, receives property management fees from an entity in which Stephen L. Green owns an interest. We received management fees from such entity of approximately $114,300, $330,700, $105,200 and $318,900 for the three and nine months ended September 30, 2014 and 2013, respectively.

Other

Amounts due from related parties at September 30, 2014 and December 31, 2013 consisted of the following (in thousands):



	September 30, 2014		December 31, 2013
Due from joint ventures	$	1,260	$	2,376
Other	12,002		6,154
Related party receivables	$	13,262	$	8,530

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Noncontrolling Interests on the Company's Consolidated Financial Statements

9 Months Ended

Sep. 30, 2014

Noncontrolling Interest [Abstract]

Noncontrolling Interests on the Company's Consolidated Financial Statements

Noncontrolling interests represent the common and preferred units of limited partnership interest in the Operating Partnership not held by the Company as well as third party equity interests in our other consolidated subsidiaries. Noncontrolling interests in the Operating Partnership are shown in the mezzanine equity while the noncontrolling interests in our other consolidated subsidiaries are shown in the equity section of the Company’s consolidated financial statements.

Common Units of Limited Partnership Interest in the Operating Partnership

As of September 30, 2014 and December 31, 2013, the noncontrolling interest unit holders owned 3.75%, or 3,735,478 units, and 2.96%, or 2,902,317 units, of the Operating Partnership, respectively. At September 30, 2014, 3,735,478 shares of SL Green's common stock were reserved for issuance upon redemption of units of limited partnership interest of the Operating Partnership.

Noncontrolling interests in the Operating Partnership is recorded at the greater of its cost basis or fair market value based on the closing stock price of SL Green's common stock at the end of the reporting period.

Below is the rollforward analysis of the activity relating to the noncontrolling interests in the Operating Partnership as of September 30, 2014, and December 31, 2013 (in thousands):



	September 30, 2014			December 31, 2013
Balance at beginning of period	$	265,476		$	212,907
Distributions	(5,482		)	(4,146		)
Issuance of common units	22,862			24,750
Redemption of common units	(26,392		)	(17,287		)
Net income	16,010			3,023
Accumulated other comprehensive income allocation	347			611
Fair value adjustment	108,453			45,618
Balance at end of period	$	381,274		$	265,476

Preferred Units of Limited Partnership Interest in the Operating Partnership

The Operating Partnership has 1,902,000 4.5% Series G Preferred Units of limited partnership interest, or the Series G Preferred Units, with a liquidation preference of $25.00 per unit, which were issued in January 2012 in conjunction with an acquisition. The Series G Preferred unitholders receive annual dividends of $1.125 per unit paid on a quarterly basis and dividends are cumulative, subject to certain provisions. The Series G Preferred Units are convertible into a number of common units of limited partnership interest in the Operating Partnership equal to (i) the liquidation preference plus accumulated and unpaid distributions on the conversion date divided by (ii) $88.50. The common units of limited partnership interest in the Operating Partnership may be redeemed in exchange for SL Green's common stock on a 1-to-1 basis. The Series G Preferred Units also provide the holder with the right to require the Operating Partnership to repurchase the Series G Preferred Units for cash before January 31, 2022.

The Operating Partnership has 80,000 6.0% Series H Preferred Units of limited partnership interest, or the Series H Preferred Units, with a mandatory liquidation preference of $25.00 per unit, which were issued in November 2011 in conjunction with an acquisition. The Series H Preferred unitholders receive annual dividends of $1.50 per unit paid on a quarterly basis and dividends are cumulative, subject to certain provisions. The Series H Preferred Units can be redeemed at any time at par for cash at the Operating Partnership’s option or the option of the unitholder.

The Operating Partnership has 60 Series F Preferred Units outstanding with a mandatory liquidation preference of $1,000.00 per unit.

The Operating Partnership has authorized up to 700,000 3.5% Series K Preferred Units of limited partnership interest, or the Series K Preferred Units, with a liquidation preference of $25.00 per unit. In August 2014, the Company issued 563,954 Series K Preferred Units in conjunction with an acquisition. The Series K Preferred unitholders receive annual dividends of $0.875 per unit paid on a quarterly basis and dividends are cumulative, subject to certain provisions. The Series K Preferred Units can be redeemed at anytime, at the option of the unitholder, either for cash or are convertible into a number of common units of limited partnership interest in the Operating Partnership equal to (i) the liquidation preference plus accumulated and unpaid distributions on the conversion date divided by (ii) $134.67.

The Operating Partnership has authorized up to 500,000 4.00% Series L Preferred Units of limited partnership interest, or the Series L Preferred Units, with a liquidation preference of $25.00 per unit. In August 2014, the Company issued 378,634 Series L Preferred Units in conjunction with an acquisition. The Series L Preferred unitholders receive annual dividends of $1.00 per unit paid on a quarterly basis and dividends are cumulative, subject to certain provisions. The Series L Preferred Units can be redeemed at any time at par for cash at the the option of the unitholder.

Stockholders' Equity of the Company

9 Months Ended

Sep. 30, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity of the Company

Stockholders’ Equity of the Company

Common Stock

Our authorized capital stock consists of 260,000,000 shares, $0.01 par value per share, consisting of 160,000,000 shares of common stock, $0.01 par value per share, 75,000,000 shares of excess stock, at $0.01 par value per share, and 25,000,000 shares of preferred stock, par value $0.01 per share. As of September 30, 2014, 95,944,861 shares of common stock and no shares of excess stock were issued and outstanding.

At-The-Market Equity Offering Program

In July 2011, the Company, along with the Operating Partnership, entered into an "at-the-market" equity offering program, or ATM Program, to sell an aggregate of $250.0 million of SL Green's common stock. During the nine months ended September 30, 2014, we sold 25,659 shares of our common stock out of the remaining balance of this ATM Program for aggregate net proceeds of $2.8 million. The net proceeds from this offering were contributed to the Operating Partnership in exchange for 25,659 units of limited partnership interest of the Operating Partnership.

In June 2014, the Company, along with the Operating Partnership, entered into a new ATM Program to sell an aggregate of $300.0 million of SL Green's common stock. During the nine months ended September 30, 2014, we sold 367,781 shares of our common stock for aggregate net proceeds of $40.3 million. The net proceeds from this offering were contributed to the Operating Partnership in exchange for 367,781 units of limited partnership interest of the Operating Partnership. As of September 30, 2014, $259.2 million remained available for issuance of common stock under the new ATM Program.

Perpetual Preferred Stock

We have 9,200,000 shares of our 6.50% Series I Cumulative Redeemable Preferred Stock, or the Series I Preferred Stock, outstanding with a mandatory liquidation preference of $25.00 per share. The Series I Preferred stockholders receive annual dividends of $1.625 per share paid on a quarterly basis and dividends are cumulative, subject to certain provisions. We are entitled to redeem the Series I Preferred Stock at par for cash at our option on or after August 10, 2017. The proceeds from this issuance of Series I Preferred Stock were contributed to the Operating Partnership in exchange of 9,200,000 units of 6.50% Series I Cumulative Redeemable Preferred Units of limited partnership interest, or the Series I Preferred Units.

Dividend Reinvestment and Stock Purchase Plan

In March 2012, the Company filed a registration statement with the SEC for our dividend reinvestment and stock purchase plan, or DRIP, which automatically became effective upon filing. The Company registered 3,500,000 shares of SL Green's common stock under the DRIP. The DRIP commenced on September 24, 2001.

During the nine months ended September 30, 2014, the Company issued 400 shares of SL Green's common stock and received approximately $40,000 of proceeds from dividend reinvestments and/or stock purchases under the DRIP. DRIP shares may be issued at a discount to the market price.

Earnings per Share

SL Green's earnings per share for the three and nine months ended September 30, 2014 and 2013 is computed as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator	2014		2013		2014		2013
Basic Earnings:
Income attributable to SL Green common stockholders	$	64,688	$	37,025	$	446,319	$	64,210
Effect of Dilutive Securities:
Redemption of units to common shares	2,636		1,110		16,010		1,909
Diluted Earnings:
Income attributable to SL Green common stockholders	$	67,324	$	38,135	$	462,329	$	66,119



	Three Months Ended September 30,		Nine Months Ended September 30,
Denominator	2014	2013	2014	2013
Basic Shares:
Weighted average common stock outstanding	95,734	91,988	95,437	91,684
Effect of Dilutive Securities:
Redemption of units to common shares	3,585	2,792	3,423	2,705
Stock-based compensation plans	387	236	462	242
Diluted weighted average common stock outstanding	99,706	95,016	99,322	94,631

SL Green has excluded 231,970, 769,790, 703,702 and 922,239 common stock equivalents from the diluted shares outstanding for the three and nine months ended September 30, 2014 and 2013, respectively, as they were anti-dilutive.

Partners' Capital of the Operating Partnership

The Company is the sole general partner of the Operating Partnership and at September 30, 2014 owned 95,944,861 general and limited partnership interests in the Operating Partnership and 9,200,000 Series I Preferred Units. Partnership interests in the Operating Partnership are denominated as “common units of limited partnership interest” (also referred to as “OP Units”) or “preferred units of limited partnership interest” (also referred to as “Preferred Units”). All references to OP Units and Preferred Units outstanding exclude such units held by the Company. A holder of an OP Unit may present such OP Unit to the Operating Partnership for redemption at any time (subject to restrictions agreed upon at the issuance of OP Units to particular holders that may restrict such right for a period of time, generally one year from issuance). Upon presentation of an OP Unit for redemption, the Operating Partnership must redeem such OP Unit in exchange for the cash equal to the then value of a share of common stock of the Company, except that the Company may, at its election, in lieu of cash redemption, acquire such OP Unit for one share of common stock. Because the number of shares of common stock outstanding at all times equals the number of OP Units that the Company owns, one share of common stock is generally the economic equivalent of one OP Unit, and the quarterly distribution that may be paid to the holder of an OP Unit equals the quarterly dividend that may be paid to the holder of a share of common stock. Each series of Preferred Units makes a distribution that is set in accordance with an amendment to the partnership agreement of the Operating Partnership. Preferred Units may also be convertible into OP Units at the election of the holder thereof or the Company, subject to the terms of such Preferred Units.

Net income (loss) allocated to the preferred unitholders and common unitholders reflects their pro rata share of net income (loss) and distributions.

Limited Partner Units

As of September 30, 2014, limited partners other than SL Green owned 3.75%, or 3,735,478, common units, of the Operating Partnership.

Preferred Units

Preferred units not owned by SL Green are further described in Note 11, “Noncontrolling Interests on the Company’s Consolidated Financial Statements - Preferred Units of Limited Partnership Interest in the Operating Partnership.”

Earnings per Unit

The Operating Partnership's earnings per unit for the three and nine months ended September 30, 2014 and 2013 is computed as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator	2014		2013		2014		2013
Basic and Diluted Earnings:
Income attributable to SLGOP common unitholders	$	67,324	$	38,135	$	462,329	$	66,119



	Three Months Ended September 30,		Nine Months Ended September 30,
Denominator	2014	2013	2014	2013
Basic units:
Weighted average common units outstanding	99,319	94,780	98,860	94,389
Effect of Dilutive Securities:
Stock-based compensation plans	387	236	462	242
Diluted weighted average common units outstanding	99,706	95,016	99,322	94,631

The Operating Partnership excluded 231,970, 769,790, 703,702 and 922,239 common unit equivalents from the diluted units outstanding for the three and nine months ended September 30, 2014 and 2013, respectively, as they were anti-dilutive.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

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+ Details

Partners' Capital of the Operating Partnership

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Partners' Capital of the Operating Partnership

Stockholders’ Equity of the Company

Common Stock

At-The-Market Equity Offering Program

Perpetual Preferred Stock

Dividend Reinvestment and Stock Purchase Plan

Earnings per Share

SL Green's earnings per share for the three and nine months ended September 30, 2014 and 2013 is computed as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator	2014		2013		2014		2013
Basic Earnings:
Income attributable to SL Green common stockholders	$	64,688	$	37,025	$	446,319	$	64,210
Effect of Dilutive Securities:
Redemption of units to common shares	2,636		1,110		16,010		1,909
Diluted Earnings:
Income attributable to SL Green common stockholders	$	67,324	$	38,135	$	462,329	$	66,119



	Three Months Ended September 30,		Nine Months Ended September 30,
Denominator	2014	2013	2014	2013
Basic Shares:
Weighted average common stock outstanding	95,734	91,988	95,437	91,684
Effect of Dilutive Securities:
Redemption of units to common shares	3,585	2,792	3,423	2,705
Stock-based compensation plans	387	236	462	242
Diluted weighted average common stock outstanding	99,706	95,016	99,322	94,631

Partners' Capital of the Operating Partnership

Net income (loss) allocated to the preferred unitholders and common unitholders reflects their pro rata share of net income (loss) and distributions.

Limited Partner Units

As of September 30, 2014, limited partners other than SL Green owned 3.75%, or 3,735,478, common units, of the Operating Partnership.

Preferred Units

Earnings per Unit

The Operating Partnership's earnings per unit for the three and nine months ended September 30, 2014 and 2013 is computed as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator	2014		2013		2014		2013
Basic and Diluted Earnings:
Income attributable to SLGOP common unitholders	$	67,324	$	38,135	$	462,329	$	66,119



	Three Months Ended September 30,		Nine Months Ended September 30,
Denominator	2014	2013	2014	2013
Basic units:
Weighted average common units outstanding	99,319	94,780	98,860	94,389
Effect of Dilutive Securities:
Stock-based compensation plans	387	236	462	242
Diluted weighted average common units outstanding	99,706	95,016	99,322	94,631

- Definition

+ References

+ Details

Share-based Compensation

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based Compensation

We have a stock-based employee and director compensation plans. Our employees are compensated through the Operating Partnership. Under each plan, whenever the Company issues common or preferred stock, the Operating Partnership issues an equivalent number of units of limited partnership interest of a corresponding class to the Company.

Third Amended and Restated 2005 Stock Option and Incentive Plan

The Third Amended and Restated 2005 Stock Option and Incentive Plan, or the 2005 Plan, was approved by the Company's board of directors in April 2013 and its stockholders in June 2013 at the Company's annual meeting of stockholders. The 2005 Plan authorizes the issuance of stock options, stock appreciation rights, unrestricted and restricted stock, phantom shares, dividend equivalent rights and other equity-based awards. Subject to adjustments upon certain corporate transactions or events, awards with respect to up to a maximum of 17,130,000 fungible units may be granted under the 2005 Plan. Currently, different types of awards count against the limit on the number of fungible units differently, with (1) full-value awards (i.e., those that deliver the full value of the award upon vesting, such as restricted stock) counting as 2.76 fungible units per share subject to such award (2) stock options, stock appreciation rights and other awards that do not deliver full value and expire five years from the date of grant counting as 0.77 fungible units per share subject to such award and (3) all other awards (e.g., ten-year stock options) counting as 1.0 fungible units per share subject to such award. Awards granted under the 2005 Plan prior to the approval of the second amendment and restatement in June 2010 and third amendment and restatement in June 2013 continue to count against the fungible unit limit based on the ratios that were in effect at the time such awards were granted, which may be different than the current ratios. As a result, depending on the types of awards issued, the 2005 Plan may result in the issuance of more or less than 17,130,000 shares. If a stock option or other award granted under the 2005 Plan expires or terminates, the common stock subject to any portion of the award that expires or terminates without having been exercised or paid, as the case may be, will again become available for the issuance of additional awards. Shares of SL Green's common stock distributed under the 2005 Plan may be treasury shares or authorized but unissued shares. Currently, unless the 2005 Plan has been previously terminated by the Company's board of directors, new awards may be granted under the 2005 Plan until June 13, 2023, which is the tenth anniversary of the date that the 2005 Plan was most recently approved by the Company's stockholders. As of September 30, 2014, 3,200,000 fungible units were available for issuance under the 2005 Plan after reserving for shares underlying outstanding restricted stock units, phantom stock units granted pursuant to our Non-Employee Directors' Deferral Program and LTIP Units, including, among others, outstanding LTIP Units issued under our 2011 Long-Term Outperformance Plan.

Options are granted under the plan at the fair market value on the date of grant and, subject to employment, generally expire five or ten years from the date of grant, are not transferable other than on death, and generally vest in one to five years commencing one year from the date of grant.

The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option pricing model based on historical information with the following weighted average assumptions for grants during the nine months ended September 30, 2014 and the year ended December 31, 2013.



	September 30, 2014		December 31, 2013
Dividend yield	1.60	%	1.92	%
Expected life of option	3.6 years		4.1 years
Risk-free interest rate	1.11	%	0.96	%
Expected stock price volatility	33.67	%	36.12	%

A summary of the status of the Company's stock options as of September 30, 2014 and December 31, 2013 and changes during the nine months ended September 30, 2014 and the year ended December 31, 2013 are as follows:



	September 30, 2014					December 31, 2013
	Options Outstanding			Weighted Average Exercise Price		Options Outstanding			Weighted Average Exercise Price
Balance at beginning of year	1,765,034			$	83.24	1,201,000			$	75.05
Granted	9,000			106.03		828,100			87.23
Exercised	(289,793		)	70.77		(223,531		)	53.93
Lapsed or cancelled	(53,235		)	90.20		(40,535		)	83.94
Balance at end of period	1,431,006			85.65		1,765,034			83.24
Options exercisable at end of period	439,482			89.20		461,458			89.38
Weighted average fair value of options granted during the period	$	219,823				$	18,041,576

All options were granted with strike prices ranging from $20.67 to $137.18. The remaining weighted average contractual life of the options outstanding was 4.20 years and the remaining average contractual life of the options exercisable was 3.76 years.

During the three and nine months ended September 30, 2014 and 2013, we recognized $2.0 million, $6.0 million, $2.2 million and $4.8 million of compensation expense, respectively, for these options. As of September 30, 2014, there was $13.6 million of total unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of three years.

Stock-based Compensation

Effective January 1, 1999, the Company implemented a deferred compensation plan, or the Deferred Plan, where shares issued under the Deferred Plan were granted to certain employees, including our executives, and vesting will occur annually upon the completion of a service period or our meeting established financial performance criteria. Annual vesting occurs at rates ranging from 15% to 35% once performance criteria are reached.

A summary of the Company's restricted stock as of September 30, 2014 and December 31, 2013 and charges during the nine months ended September 30, 2014 and the year ended December 31, 2013 are presented below:



	September 30, 2014			December 31, 2013
Balance at beginning of year	2,994,197			2,804,901
Granted	—			192,563
Cancelled	(2,434		)	(3,267		)
Balance at end of period	2,991,763			2,994,197
Vested during the period	73,168			21,074
Compensation expense recorded	$	7,267,923		$	6,713,155
Weighted average fair value of restricted stock granted during the period	$	—		$	17,386,949

The fair value of restricted stock that vested during the nine months ended September 30, 2014 and the year ended December 31, 2013 was $5.4 million and $1.6 million, respectively. As of September 30, 2014, there was $12.4 million of total unrecognized compensation cost related to unvested restricted stock, which is expected to be recognized over a weighted average period of 2.1 years.

For the three and nine months ended September 30, 2014 and 2013, $1.7 million, $5.2 million, $0.9 million and $2.9 million, respectively, was capitalized to assets associated with compensation expense related to our long-term compensation plans, restricted stock and stock options.

We granted LTIP units, which include bonus, time-based and performance based awards, with a fair value of $23.6 million, and $27.1 million as of September 30, 2014 and December 31, 2013, respectively. The grant date fair value of the LTIP unit awards was calculated in accordance with ASC 718. A third party consultant determined the fair value of the LTIP units to have a discount from SL Green's common stock price. The discount was calculated by considering the inherent uncertainty that the LTIP units will reach parity with other common partnership units and the illiquidity due to transfer restrictions. As of September 30, 2014, there was $6.7 million of total unrecognized compensation expense related to the time-based and performance based awards, which is expected to be recognized over a weighted average period of 1.2 years. During the three and nine months ended September 30, 2014 and 2013, we recorded compensation expense related to bonus, time-based and performance based awards of $3.4 million, $13.7 million, $1.9 million and $3.5 million, respectively.

2010 Notional Unit Long-Term Compensation Plan

In December 2009, the compensation committee of the Company's board of directors approved the general terms of the SL Green Realty Corp. 2010 Notional Unit Long-Term Compensation Program, or the 2010 Long-Term Compensation Plan. The 2010 Long-Term Compensation Plan is a long-term incentive compensation plan pursuant to which award recipients could earn, in the aggregate, from approximately $15.0 million up to approximately $75.0 million of LTIP Units in the Operating Partnership based on the Company's stock price appreciation over three years beginning on December 1, 2009; provided that, if maximum performance had been achieved, approximately $25.0 million of awards could be earned at any time after the beginning of the second year and an additional approximately $25.0 million of awards could be earned at any time after the beginning of the third year. In order to achieve maximum performance under the 2010 Long-Term Compensation Plan, the Company's aggregate stock price appreciation during the performance period had to equal or exceed 50%. The compensation committee determined that maximum performance had been achieved at or shortly after the beginning of each of the second and third years of the performance period and for the full performance period and, accordingly, 366,815 LTIP Units, 385,583 LTIP Units and 327,416 LTIP Units were earned under the 2010 Long-Term Compensation Plan in December 2010, 2011 and 2012, respectively. Substantially in accordance with the original terms of the program, 50% of these LTIP Units vested on December 17, 2012 (accelerated from the original January 1, 2013 vesting date), 25% of these LTIP Units vested on December 11, 2013 (accelerated from the original January 1, 2014 vesting date) and the remainder is scheduled to vest on January 1, 2015 based on continued employment. In accordance with the terms of the 2010 Long-Term Compensation Plan, distributions were not paid on any LTIP Units until they were earned, at which time we paid all distributions that would have been paid on the earned LTIP Units since the beginning of the performance period.

The cost of the 2010 Long-Term Compensation Plan (approximately $31.7 million, subject to forfeitures) will be amortized into earnings through the final vesting period. We recorded compensation expense of $0.4 million, $2.3 million, $0.9 million and $3.6 million during the three and nine months ended September 30, 2014 and 2013, respectively, related to the 2010 Long-Term Compensation Plan.

2011 Outperformance Plan

In August 2011, the compensation committee of the Company's board of directors approved the general terms of the SL Green Realty Corp. 2011 Outperformance Plan, or the 2011 Outperformance Plan. Participants in the 2011 Outperformance Plan may earn, in the aggregate, up to $85.0 million of LTIP Units in the Operating Partnership based on our total return to stockholders for the three-year period beginning September 1, 2011. Under the 2011 Outperformance Plan, participants will be entitled to share in a "performance pool" comprised of LTIP Units with a value equal to 10% of the amount, if any, by which our total return to stockholders during the three-year period exceeds a cumulative total return to stockholders of 25%, subject to the maximum of $85.0 million of LTIP Units; provided that if maximum performance has been achieved, approximately one-third of each award may be earned at any time after the beginning of the second year and an additional approximately one-third of each award may be earned at any time after the beginning of the third year. LTIP Units earned under the 2011 Outperformance Plan will be subject to continued vesting requirements, with 50% of any awards earned vesting on August 31, 2014 and the remaining 50% vesting on August 31, 2015, subject to continued employment with us through such dates. Participants will not be entitled to distributions with respect to LTIP Units granted under the 2011 Outperformance Plan unless and until they are earned. If LTIP Units are earned, each participant will also be entitled to the distributions that would have been paid had the number of earned LTIP Units been issued at the beginning of the performance period, with such distributions being paid in the form of additional LTIP Units. Thereafter, distributions will be paid currently with respect to all earned LTIP Units, whether vested or unvested. In June 2014, the compensation committee determined that maximum performance had been achieved during the third year of the performance period and, accordingly, 560,908 LTIP Units, representing two-thirds of each award, were earned, subject to vesting, under the 2011 Outperformance Plan. The remaining one-third of each award will be earned based on performance through end of the performance period.

The cost of the 2011 Outperformance Plan (approximately $27.0 million, subject to forfeitures) will be amortized into earnings through the final vesting period. We recorded compensation expense of $1.7 million, $7.8 million, $1.7 million and $6.2 million during the three and nine months ended September 30, 2014 and 2013, respectively, related to the 2011 Outperformance Plan.

2014 Outperformance Plan

In August 2014, the compensation committee of the Company's board of directors approved the general terms of the SL Green Realty Corp. 2014 Outperformance Plan, or the 2014 Outperformance Plan. Participants in the 2014 Outperformance Plan may earn, in the aggregate, up to 610,000 LTIP Units in our Operating Partnership based on our total return to stockholders for the three-year period beginning September 1, 2014; however, initially, the compensation committee will only award approximately 50% of the total LTIP Units and will retain discretion as to whether or when it will award the remainder of the total LTIP Units. For each individual award, two-thirds of the LTIP Units may be earned based on the Company’s absolute total return to stockholders and one-third of the LTIP Units may be earned based on relative total return to stockholders compared to the constituents of the MSCI REIT Index. Awards earned based on absolute total return to stockholders will be determined independently of awards earned based on relative total return to stockholders. In the event the Company’s performance reaches either threshold before the end of the three-year performance period, a pro-rata portion of the maximum award may be earned. For each component, if the Company’s performance reaches the maximum threshold beginning with the 19th month of the performance period, participants will earn one-third of the maximum award that may be earned for that component. If the Company’s performance reaches the maximum threshold during the third year of the performance period for a component, participants will earn up to two-thirds of the maximum award that may be earned for that component. LTIP Units earned under the 2014 Outperformance Plan will be subject to continued vesting requirements, with 50% of any awards earned vesting on August 31, 2017 and the remaining 50% vesting on August 31, 2018, subject to continued employment with us through August 31, 2018. Participants will not be entitled to distributions with respect to LTIP Units granted under the 2014 Outperformance Plan unless and until they are earned. If LTIP Units are earned, each participant will also be entitled to the distributions that would have been paid had the number of earned LTIP Units been issued at the beginning of the performance period, with such distributions being paid in the form of additional LTIP Units. Thereafter, distributions will be paid currently with respect to all earned LTIP Units, whether vested or unvested. Awards have not yet been granted under the 2014 Outperformance Plan.

Deferred Compensation Plan for Directors

Under our Non-Employee Director's Deferral Program, which commenced July 2004, the Company's non-employee directors may elect to defer up to 100% of their annual retainer fee, chairman fees, meeting fees and annual stock grant. Unless otherwise elected by a participant, fees deferred under the program shall be credited in the form of phantom stock units. The program provides that a director's phantom stock units generally will be settled in an equal number of shares of common stock upon the earlier of (i) the January 1 coincident with or next following such director's termination of service from the Board of Directors or (ii) a change in control by us, as defined by the program. Phantom stock units are credited to each non-employee director quarterly using the closing price of SL Green's common stock on the first business day of the respective quarter. Each participating non-employee director is also credited with dividend equivalents or phantom stock units based on the dividend rate for each quarter, which are either paid in cash currently or credited to the director’s account as additional phantom stock units.

During the nine months ended September 30, 2014, 8,626 phantom stock units were earned. As of September 30, 2014, there were 80,137 phantom stock units outstanding pursuant to our Non-Employee Director's Deferral Program.

Employee Stock Purchase Plan

On September 18, 2007, the Company's board of directors adopted the 2008 Employee Stock Purchase Plan, or ESPP, to encourage our employees to increase their efforts to make our business more successful by providing equity-based incentives to eligible employees. The ESPP is intended to qualify as an "employee stock purchase plan" under Section 423 of the Code, and has been adopted by the board to enable our eligible employees to purchase the Company's shares of common stock through payroll deductions. The ESPP became effective on January 1, 2008 with a maximum of 500,000 shares of the common stock available for issuance, subject to adjustment upon a merger, reorganization, stock split or other similar corporate change. The Company filed a registration statement on Form S-8 with the SEC with respect to the ESPP. The common stock is offered for purchase through a series of successive offering periods. Each offering period will be three months in duration and will begin on the first day of each calendar quarter, with the first offering period having commenced on January 1, 2008. The ESPP provides for eligible employees to purchase the common stock at a purchase price equal to 85% of the lesser of (1) the market value of the common stock on the first day of the offering period or (2) the market value of the common stock on the last day of the offering period. The ESPP was approved by our stockholders at our 2008 annual meeting of stockholders. As of September 30, 2014, 78,563 shares of SL Green's common stock had been issued under the ESPP.

Accumulated Other Comprehensive Loss of the Company

9 Months Ended

Sep. 30, 2014

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated Other Comprehensive Loss of the Company

Stockholders’ Equity of the Company

Common Stock

At-The-Market Equity Offering Program

Perpetual Preferred Stock

Dividend Reinvestment and Stock Purchase Plan

Earnings per Share

SL Green's earnings per share for the three and nine months ended September 30, 2014 and 2013 is computed as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator	2014		2013		2014		2013
Basic Earnings:
Income attributable to SL Green common stockholders	$	64,688	$	37,025	$	446,319	$	64,210
Effect of Dilutive Securities:
Redemption of units to common shares	2,636		1,110		16,010		1,909
Diluted Earnings:
Income attributable to SL Green common stockholders	$	67,324	$	38,135	$	462,329	$	66,119



	Three Months Ended September 30,		Nine Months Ended September 30,
Denominator	2014	2013	2014	2013
Basic Shares:
Weighted average common stock outstanding	95,734	91,988	95,437	91,684
Effect of Dilutive Securities:
Redemption of units to common shares	3,585	2,792	3,423	2,705
Stock-based compensation plans	387	236	462	242
Diluted weighted average common stock outstanding	99,706	95,016	99,322	94,631

Partners' Capital of the Operating Partnership

Net income (loss) allocated to the preferred unitholders and common unitholders reflects their pro rata share of net income (loss) and distributions.

Limited Partner Units

As of September 30, 2014, limited partners other than SL Green owned 3.75%, or 3,735,478, common units, of the Operating Partnership.

Preferred Units

Earnings per Unit

The Operating Partnership's earnings per unit for the three and nine months ended September 30, 2014 and 2013 is computed as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator	2014		2013		2014		2013
Basic and Diluted Earnings:
Income attributable to SLGOP common unitholders	$	67,324	$	38,135	$	462,329	$	66,119



	Three Months Ended September 30,		Nine Months Ended September 30,
Denominator	2014	2013	2014	2013
Basic units:
Weighted average common units outstanding	99,319	94,780	98,860	94,389
Effect of Dilutive Securities:
Stock-based compensation plans	387	236	462	242
Diluted weighted average common units outstanding	99,706	95,016	99,322	94,631

SL Green Realty Corp

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated Other Comprehensive Loss of the Company

The following tables set forth the changes in accumulated other comprehensive income (loss) by component as of September 30, 2014:



	Net unrealized gain (loss) on derivative instruments (1)			SL Green’s share of joint venture net unrealized income (loss) on derivative instruments (2)			Unrealized gains and loss on marketable securities		Total
Balance at December 31, 2013	$	(15,125	)	$	(4,870	)	$	4,784	$	(15,211	)
Other comprehensive income before reclassifications	1,293			4,349			1,209		6,851
Amounts reclassified from accumulated other comprehensive income	3,658			1,806			—		5,464
Balance at September 30, 2014	$	(10,174	)	$	1,285		$	5,993	$	(2,896	)

___________________________

(1)

Amounts reclassified from accumulated other comprehensive income (loss) are included in interest expense in the respective consolidated statements of income. As of September 30, 2014 and December 31, 2013, the deferred net losses from these terminated hedges, which are included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument, were $12.2 million and $13.8 million, respectively.


(2)	Amounts reclassified from accumulated other comprehensive income are included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of income.

- Definition

+ References

+ Details

Accumulated Other Comprehensive Loss of the Operating Partnership

9 Months Ended

Sep. 30, 2014

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated Other Comprehensive Loss of the Company

Stockholders’ Equity of the Company

Common Stock

At-The-Market Equity Offering Program

Perpetual Preferred Stock

Dividend Reinvestment and Stock Purchase Plan

Earnings per Share

SL Green's earnings per share for the three and nine months ended September 30, 2014 and 2013 is computed as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator	2014		2013		2014		2013
Basic Earnings:
Income attributable to SL Green common stockholders	$	64,688	$	37,025	$	446,319	$	64,210
Effect of Dilutive Securities:
Redemption of units to common shares	2,636		1,110		16,010		1,909
Diluted Earnings:
Income attributable to SL Green common stockholders	$	67,324	$	38,135	$	462,329	$	66,119



	Three Months Ended September 30,		Nine Months Ended September 30,
Denominator	2014	2013	2014	2013
Basic Shares:
Weighted average common stock outstanding	95,734	91,988	95,437	91,684
Effect of Dilutive Securities:
Redemption of units to common shares	3,585	2,792	3,423	2,705
Stock-based compensation plans	387	236	462	242
Diluted weighted average common stock outstanding	99,706	95,016	99,322	94,631

Partners' Capital of the Operating Partnership

Net income (loss) allocated to the preferred unitholders and common unitholders reflects their pro rata share of net income (loss) and distributions.

Limited Partner Units

As of September 30, 2014, limited partners other than SL Green owned 3.75%, or 3,735,478, common units, of the Operating Partnership.

Preferred Units

Earnings per Unit

The Operating Partnership's earnings per unit for the three and nine months ended September 30, 2014 and 2013 is computed as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator	2014		2013		2014		2013
Basic and Diluted Earnings:
Income attributable to SLGOP common unitholders	$	67,324	$	38,135	$	462,329	$	66,119



	Three Months Ended September 30,		Nine Months Ended September 30,
Denominator	2014	2013	2014	2013
Basic units:
Weighted average common units outstanding	99,319	94,780	98,860	94,389
Effect of Dilutive Securities:
Stock-based compensation plans	387	236	462	242
Diluted weighted average common units outstanding	99,706	95,016	99,322	94,631

SL Green Operating Partnership

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated Other Comprehensive Loss of the Company

Accumulated Other Comprehensive Loss of the Operating Partnership

The following tables set forth the changes in accumulated other comprehensive income (loss) by component as of September 30, 2014:



	Net unrealized gain (loss) on derivative instruments (1)			SLGOP’s share of joint venture net unrealized income (loss) on derivative instruments (2)			Unrealized gains and loss on marketable securities		Total
Balance at December 31, 2013	$	(15,573	)	$	(5,015	)	$	4,926	$	(15,662	)
Other comprehensive income before reclassifications	1,245			4,475			1,282		7,002
Amounts reclassified from accumulated other comprehensive income	3,790			1,870			—		5,660
Balance at September 30, 2014	$	(10,538	)	$	1,330		$	6,208	$	(3,000	)

___________________________

(1)

Amount reclassified from accumulated other comprehensive income (loss) are included in interest expense in the respective consolidated statements of income. As of September 30, 2014 and December 31, 2013, the deferred net losses from these terminated hedges, which are included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument, were $12.7 million and $14.2 million, respectively.


(2)	Amounts reclassified from accumulated other comprehensive income are included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of income.

- Definition

+ References

+ Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

We are required to disclose the fair value information about our financial instruments, whether or not recognized in the consolidated balance sheets, for which it is practicable to estimate fair value. FASB guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. We measure and/or disclose the estimated fair value of financial assets and liabilities based on a hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity and the reporting entity’s own assumptions about market participant assumptions. This hierarchy consist of three broad levels: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date; Level 2 - inputs other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and Level 3 - unobservable inputs for the asset or liability that are used when little or no market data is available. We follow this hierarchy for our assets and liabilities measured at fair value on a recurring and nonrecurring basis. In instances in which the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level of input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of the particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

The following tables set forth the assets and liabilities that we measure at fair value on a recurring and non-recurring basis by their levels in the fair value hierarchy at September 30, 2014 and December 31, 2013 (in thousands):



	September 30, 2014
	Total		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	39,293	$	4,315	$	34,978	$	—
Liabilities:
Interest rate swap agreements (included in accrued interest payable and other liabilities)	$	14,114	$	—	$	14,114	$	—



	December 31, 2013
	Total		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	32,049	$	4,307	$	24,419	$	3,323
Liabilities:
Interest rate swap agreements (included in accrued interest payable and other liabilities)	$	1,329	$	—	$	1,329	$	—

We determine impairment in real estate investments and debt and preferred equity investments, including intangibles utilizing cash flow projections that apply estimated revenue and expense growth rates, discount rates and capitalization rates, which are classified as Level 3 inputs.

The fair value of derivative instruments is based on current market data received from financial sources that trade such instruments and are based on prevailing market data and derived from third party proprietary models based on well-recognized financial principles and reasonable estimates about relevant future market conditions, which are classified as Level 2 inputs.

The financial assets and liabilities that are not measured at fair value on our consolidated balance sheets include cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses, debt and preferred equity investments, and mortgages and other loans payable and other secured and unsecured debt. The carrying amount of cash and cash equivalents, restricted cash, accounts receivable, and accounts payable and accrued expenses reported in our consolidated balance sheets approximates fair value due to the short term nature of these instruments. The fair value of debt and preferred equity investments, which is classified as Level 3, is estimated by discounting the future cash flows using current interest rates at which similar loans with the same maturities would be made to borrowers with similar credit ratings. The fair value of borrowings, which is classified as Level 3, is estimated by discounting the contractual cash flows of each debt to their present value using adjusted market interest rates, which is provided by a third-party specialist.

The following table provides the carrying value and fair value of these financial instruments as of September 30, 2014 and December 31, 2013 (in thousands):



	September 30, 2014				December 31, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value
Debt and preferred equity investments	$	1,432,951	(1)		$	1,304,839	(1)

Fixed rate debt	$	6,133,200	$	6,536,977	$	5,599,960	$	5,886,980
Variable rate debt	2,603,152		2,627,547		1,319,948		1,327,422
	$	8,736,352	$	9,164,524	$	6,919,908	$	7,214,402

_____________________________________


(1)	Debt and preferred equity investments had an estimated fair value ranging between $1.4 billion and $1.6 billion at September 30, 2014. At December 31, 2013, debt and preferred equity investments had an estimated fair value ranging between $1.3 billion and $1.4 billion.

Disclosure about fair value of financial instruments was based on pertinent information available to us as of September 30, 2014 and December 31, 2013. Although we are not aware of any factors that would significantly affect the reasonable fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since that date and current estimates of fair value may differ significantly from the amounts presented herein.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Financial Instruments: Derivatives and Hedging

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments: Derivatives and Hedging

In the normal course of business, we use a variety of commonly used derivative instruments, such as interest rate swaps, caps, collar and floors, to manage, or hedge interest rate risk. We hedge our exposure to variability in future cash flows for forecasted transactions in addition to anticipated future interest payments on existing debt. We recognize all derivatives on the balance sheet at fair value. Derivatives that are not hedges are adjusted to fair value through earnings. If a derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset, liability, or firm commitment through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value will be immediately recognized in earnings. Reported net income and equity may increase or decrease prospectively, depending on future levels of interest rates and other variables affecting the fair values of derivative instruments and hedged items, but will have no effect on cash flows. Currently, all of our designated derivative instruments are effective hedging instruments.

The following table summarizes the notional and fair value of our consolidated derivative financial instruments at September 30, 2014 based on Level 2 inputs. The notional value is an indication of the extent of our involvement in these instruments at that time, but does not represent exposure to credit, interest rate or market risks.



	Notional Value (in thousands)		Strike Rate		Effective Date	Expiration Date	Balance Sheet Location	Fair Value (in thousands)
Interest Rate Cap	$	946,000	4.750	%	May 2014	May 2016	Other Assets	$	52
Interest Rate Cap	504,000		4.750	%	May 2014	May 2016	Other Assets	27
Interest Rate Cap - Sold	504,000		4.750	%	May 2014	May 2016	Other Liabilities	(27		)
Interest Rate Cap	263,426		6.000	%	November 2013	November 2015	Other Assets	—
Interest Rate Cap	137,500		4.000	%	October 2013	September 2015	Other Assets	—
Interest Rate Swap⁽¹⁾	144,000		2.236	%	December 2012	December 2017	Other Liabilities	(4,603		)
Interest Rate Swap⁽¹⁾	72,000		2.310	%	December 2012	December 2017	Other Liabilities	(2,470		)
Interest Rate Swap⁽¹⁾	72,000		2.310	%	December 2012	December 2017	Other Liabilities	(2,467		)
Interest Rate Swap⁽¹⁾	57,600		1.990	%	December 2012	December 2017	Other Liabilities	(1,392		)
Interest Rate Swap⁽¹⁾	86,400		1.948	%	December 2012	December 2017	Other Liabilities	(1,972		)
Interest Rate Swap⁽¹⁾	72,000		1.345	%	December 2012	December 2017	Other Liabilities	(273		)
Interest Rate Swap	30,000		2.295	%	July 2010	June 2016	Other Liabilities	(893		)
Interest Rate Swap	8,500		0.740	%	February 2012	February 2015	Other Liabilities	(17		)
								$	(14,035	)

__________________________


(1)	As a result of the acquisition and consolidation of 388-390 Greenwich Street, we have assumed these derivative instruments and have designated them as hedges.

The Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations. As of September 30, 2014, the fair value of derivatives in a net liability position including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $14.7 million. As of September 30, 2014, the Company has not posted any collateral related to these agreements and was not in breach of any agreement provisions. If the Company had breached any of these provisions, it could have been required to settle its obligations under the agreements at their aggregate termination value of $14.7 million at September 30, 2014.

Gains and losses on terminated hedges are included in the accumulated other comprehensive loss, and are recognized into earnings over the term of the related mortgage obligation. Over time, the realized and unrealized gains and losses held in accumulated other comprehensive loss will be reclassified into earnings as an adjustment to interest expense in the same periods in which the hedged interest payments affect earnings. We estimate that approximately $6.7 million of the current balance held in accumulated other comprehensive loss will be reclassified into interest expense and $1.0 million of the portion related to our share of joint venture accumulated other comprehensive loss will be reclassified into equity in net income from unconsolidated joint ventures within the next 12 months.

The following table presents the effect of our derivative financial instruments and our share of our joint ventures' derivative financial instruments that are designated and qualify as hedging instruments on the consolidated statements of income for the three months ended September 30, 2014 and 2013 (in thousands):



	Amount of Gain or (Loss) Recognized in Other Comprehensive Loss (Effective Portion)					Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)				Location of Gain Recognized in Income on Derivative	Amount of Gain Recognized into Income (Ineffective Portion)
	Three Months Ended September 30,						Three Months Ended September 30,					Three Months Ended September 30,
Derivative	2014		2013				2014		2013			2014		2013
Interest Rate Swaps/Caps	$	1,761	$	(160	)	Interest expense	$	1,826	$	320	Interest expense	$	1	$	2
Share of unconsolidated joint ventures' derivative instruments	291		(2,606		)	Equity in net income from unconsolidated joint ventures	41		1,281		Equity in net income from unconsolidated joint ventures	—		5
	$	2,052	$	(2,766	)		$	1,867	$	1,601		$	1	$	7

The following table presents the effect of our derivative financial instruments and our share of our joint ventures' derivative financial instruments that are designated and qualify as hedging instruments on the consolidated statements of income for the nine months ended September 30, 2014 and 2013 (in thousands):



	Amount of Gain or (Loss) Recognized in Other Comprehensive Loss (Effective Portion)					Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)				Location of Gain Recognized in Income on Derivative	Amount of Gain Recognized into Income (Ineffective Portion)
	Nine Months Ended September 30,						Nine Months Ended September 30,					Nine Months Ended September 30,
Derivative	2014		2013				2014		2013			2014		2013
Interest Rate Swaps/Caps	$	1,245	$	(20	)	Interest expense	$	3,790	$	1,258	Interest expense	$	3	$	2
Share of unconsolidated joint ventures' derivative instruments	4,475		5,503			Equity in net income from unconsolidated joint ventures	1,870		3,781		Equity in net income from unconsolidated joint ventures	—		—
	$	5,720	$	5,483			$	5,660	$	5,039		$	3	$	2

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Commitments and Contingencies

9 Months Ended

Sep. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal Proceedings

We and the Operating Partnership are not presently involved in any material litigation nor, to our knowledge, is any material litigation threatened against us or our properties which could have a material adverse effect. Management believes the costs, if any, incurred by us related to this litigation will not materially affect our financial position, operating results or liquidity.

Environmental Matters

Our management believes that the properties are in compliance in all material respects with applicable Federal, state and local ordinances and regulations regarding environmental issues. Management is not aware of any environmental liability that it believes would have a materially adverse impact on our financial position, results of operations or cash flows. Management is unaware of any instances in which it would incur significant environmental cost if any of our properties were sold.

Capital and Ground Leases Arrangements

The following is a schedule of future minimum lease payments under capital lease and noncancellable operating leases with initial terms in excess of one year as of September 30, 2014 (in thousands):



	Capital lease			Non-cancellable operating leases
Remaining 2014	$	36		$	8,147
2015	145			30,491
2016	170			30,612
2017	291			30,845
2018	291			30,845
Thereafter	56,884			751,559
Total minimum lease payments	57,817			$	882,499
Less amount representing interest	(37,089		)
Capitalized lease obligations	$	20,728

Segment Information

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Information

The Company is a REIT engaged in all aspects of property ownership and management including investment, leasing, operations, capital improvements, development, financing, construction and maintenance in the New York Metropolitan area and have two reportable segments, real estate and debt and preferred equity. We evaluate real estate performance and allocate resources based on earnings contribution to income from continuing operations.

The primary sources of revenue from our real estate porftolio are generated from tenant rents, escalations and reimbursement revenue. Real estate property operating expenses consist primarily of security, maintenance, utility costs, real estate taxes and ground rent expense (at certain applicable properties). See Note 5, "Debt and Preferred Equity Investments," for additional details on our debt and preferred equity investments.

Selected results of operations for the three and nine months ended September 30, 2014 and 2013, and selected asset information as of September 30, 2014 and December 31, 2013, regarding our operating segments are as follows (in thousands):



	Real Estate Segment			Debt and Preferred Equity Segment		Total Company
Total revenues
Three months ended:
September 30, 2014	$	346,305		$	43,969	$	390,274
September 30, 2013	294,334			44,448		338,782
Nine months ended:
September 30, 2014	$	995,584		$	137,767	$	1,133,351
September 30, 2013	876,727			143,887		1,020,614
Income (loss) from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate
Three months ended:
September 30, 2014	$	(10,542	)	$	38,098	$	27,556
September 30, 2013	(11,391		)	35,859		24,468
Nine months ended:
September 30, 2014	$	13,148		$	117,673	$	130,821
September 30, 2013	(38,836		)	117,248		78,412
Total assets
As of:
September 30, 2014	$	15,789,046		$	1,448,063	$	17,237,109
December 31, 2013	13,641,727			1,317,274		14,959,001

Income from continuing operations represents total revenues less total expenses for the real estate segment and total investment income less allocated interest expense for the debt and preferred equity segment. Interest costs for the debt and preferred equity segment are imputed assuming 100% leverage at our MRA facility and 2012 credit facility borrowing cost. We also allocate loan loss reserves, net of recoveries, and transaction related costs to the debt and preferred equity segment. We do not allocate marketing, general and administrative expenses (totaling $22.6 million, $69.8 million, $20.9 million and $63.5 million for the three and nine months ended September 30, 2014 and 2013, respectively) to the debt and preferred equity segment since we base performance on the individual segments prior to allocating marketing, general and administrative expenses. All other expenses, except interest, relate entirely to the real estate assets.

There were no transactions between the above two segments.

The table below reconciles income from continuing operations to net income for the three and nine months ended September 30, 2014 and 2013 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014		2013
Income from continuing operations before purchase price fair value adjustment and equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	$	27,556		$	24,468		$	130,821	$	78,412
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	16,496			(354		)	122,580		(3,937		)
Purchase price fair value adjustment	(4,000		)	—			67,446		(2,305		)
Income from continuing operations	40,052			24,114			320,847		72,170
Net income from discontinued operations	4,035			7,435			15,449		19,851
Gain on sale of discontinued operations	29,507			13,787			144,242		14,900
Net income	$	73,594		$	45,336		$	480,538	$	106,921

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2014
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 28, 2014, we redeemed all 80,000 units of our Series H Preferred Units at a redemption price of $25.00 per unit plus $0.05833 per unit in accumulated and unpaid dividends on such units through October 28, 2014. Subsequent to September 30, 2014, we sold and settled approximately 1,019,892 shares of our common stock through our new ATM program for aggregate gross proceeds of $116.8 million ($115.4 million of net proceeds after related expenses). As of November 5, 2014, we had approximately $142.4 million of gross proceeds remaining available for issuance under the new ATM Program.

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2014
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include our accounts and those of our subsidiaries, which are wholly-owned or controlled by us. Entities which we do not control through our voting interest and entities which are variable interest entities, but where we are not the primary beneficiary, are accounted for under the equity method or as debt and preferred equity investments. See Note 5, "Debt and Preferred Equity Investments" and Note 6, "Investments in Unconsolidated Joint Ventures." All significant intercompany balances and transactions have been eliminated. We consolidate a variable interest entity, or VIE, in which we are considered the primary beneficiary. The primary beneficiary is the entity that has (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. Included in commercial real estate properties on our consolidated balance sheets as of September 30, 2014 and December 31, 2013 are $196.2 million and $605.9 million, respectively, related to our consolidated VIEs. Included in mortgages and other loans payable on our consolidated balance sheets as of September 30, 2014 and December 31, 2013 are $106.9 million and $370.9 million, respectively, related to our consolidated VIEs. Also included in assets held for sale and liabilities related to assets held for sale on our consolidated balance sheet as of September 30, 2014 are $425.7 million of commercial real estate and $256.2 million of mortgage related to our consolidated VIEs. A noncontrolling interest in a consolidated subsidiary is defined as the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to us. Noncontrolling interests are required to be presented as a separate component of equity in the consolidated balance sheet and the presentation of net income was modified to present earnings and other comprehensive income attributed to controlling and noncontrolling interests. We assess the accounting treatment for each joint venture and debt and preferred equity investment. This assessment includes a review of each joint venture or limited liability company agreement to determine which party has what rights and whether those rights are protective or participating. For all VIEs, we review such agreements in order to determine which party has the power to direct the activities that most significantly impact the entity's economic performance. In situations where we and our partner approve, among other things, the annual budget, receive a detailed monthly reporting package from us, meet on a quarterly basis to review the results of the joint venture, review and approve the joint venture's tax return before filing, and approve all leases that cover more than a nominal amount of space relative to the total rentable space at each property, we do not consolidate the joint venture as we consider these to be substantive participation rights that result in shared power of the activities that most significantly impact the performance of our joint venture. Our joint venture agreements typically contain certain protective rights such as the requirement of partner approval to sell, finance or refinance the property and the payment of capital expenditures and operating expenditures outside of the approved budget or operating plan.
Investment in Commercial Real Estate Properties	Investment in Commercial Real Estate Properties On a periodic basis, we assess whether there are any indications that the value of our real estate properties may be impaired or that their carrying value may not be recoverable. A property's value is considered impaired if management's estimate of the aggregate future cash flows (undiscounted and without interest charges for consolidated properties) to be generated by the property is less than the carrying value of the property. To the extent impairment has occurred, the loss will be measured as the excess of the carrying amount of the property over the calculated fair value of the property. We also evaluate our real estate properties for potential impairment when a real estate property has been classified as held for sale. Real estate assets held for sale are valued at the lower of their carrying value or fair value less costs to sell. We do not believe that the values of any of our consolidated properties or properties held for sale were impaired at September 30, 2014. We allocate the purchase price of real estate to land and building (inclusive of tenant improvements) and, if determined to be material, intangibles, such as the value of above- and below-market leases and origination costs associated with the in-place leases. We depreciate the amount allocated to building (inclusive of tenant improvements) over their estimated useful lives, which generally range from three to 40 years. We amortize the amount allocated to the above- and below-market leases over the remaining term of the associated lease, which generally range from one to 14 years, and record it as either an increase (in the case of below-market leases) or a decrease (in the case of above-market leases) to rental income. We amortize the amount allocated to the values associated with in-place leases over the expected term of the associated lease, which generally ranges from one to 14 years. If a tenant vacates its space prior to the contractual termination of the lease and no rental payments are being made on the lease, any unamortized balance of the related intangible will be written off. The tenant improvements and origination costs are amortized as an expense over the remaining life of the lease (or charged against earnings if the lease is terminated prior to its contractual expiration date). We assess fair value of the leases based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends, and market/economic conditions that may affect the property. To the extent acquired leases contain fixed rate renewal options that are below market and determined to be material, we amortize such below-market lease value into rental income over the renewal period.
Fair Value Measurements	Fair Value Measurements See Note 17, "Fair Value Measurements."
Investment in Marketable Securities	Investment in Marketable Securities We invest in marketable securities. At the time of purchase, we are required to designate a security as held-to-maturity, available-for-sale, or trading depending on ability and intent. We do not have any securities designated as held-to-maturity or trading at this time. Securities available-for-sale are reported at fair value pursuant to ASC 820-10, with the net unrealized gains or losses reported as a component of accumulated other comprehensive income or loss. Unrealized losses that are determined to be other-than-temporary are recognized in earnings up to their credit component. The cost of bonds and marketable securities sold is determined using the specific identification method.
Investment in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures We assess our investments in unconsolidated joint ventures for recoverability, and if it is determined that a loss in value of the investment is other than temporary, we write down the investment to its fair value. We evaluate our equity investments for impairment based on the joint venture's projected discounted cash flows. We do not believe that the values of any of our equity investments were impaired at September 30, 2014. We may originate loans for real estate acquisition, development and construction, or ADC arrangements, where we expect to receive some or all of the residual profit. When the risk and rewards of these ADC arrangements are essentially the same as an investor or joint venture partner, we account for these ADC arrangements as real estate investments under the equity method of accounting for investments. Otherwise, we account for these ADC arrangements consistent with our loan accounting for our debt and preferred equity investments.
Revenue Recognition	Revenue Recognition Rental revenue is recognized on a straight-line basis over the term of the lease. Rental revenue recognition commences when the tenant takes possession or controls the physical use of the leased space. In order for the tenant to take possession, the leased space must be substantially ready for its intended use. To determine whether the leased space is substantially ready for its intended use, management evaluates whether we are or the tenant is the owner of tenant improvements for accounting purposes. When management concludes that we are the owner of tenant improvements, rental revenue recognition begins when the tenant takes possession of the finished space, which is when such tenant improvements are substantially complete. In certain instances, when management concludes that we are not the owner (the tenant is the owner) of tenant improvements, rental revenue recognition begins when the tenant takes possession of or controls the space. When management concludes that we are the owner of tenant improvements for accounting purposes, we record amounts funded to construct the tenant improvements as a capital asset. For these tenant improvements, we record amounts reimbursed by tenants as a reduction of the capital asset. When management concludes that the tenant is the owner of tenant improvements for accounting purposes, we record our contribution towards those improvements as a lease incentive, which is included in deferred costs, net on our consolidated balance sheets and amortized as a reduction to rental revenue on a straight-line basis over the term of the lease. The excess of rents recognized over amounts contractually due pursuant to the underlying leases are included in deferred rents receivable on the consolidated balance sheets. We establish, on a current basis, an allowance for future potential tenant credit losses, which may occur against this account. The balance reflected on the consolidated balance sheets is net of such allowance. In addition to base rent, our tenants also generally will pay their pro rata share of increases in real estate taxes and operating expenses for the building over a base year. In some leases, in lieu of paying additional rent based upon increases in building operating expenses, the tenant will pay additional rent based upon increases in the wage rate paid to porters over the porters' wage rate in effect during a base year or increases in the consumer price index over the index value in effect during a base year. In addition, many of our leases contain fixed percentage increases over the base rent to cover escalations. Electricity is most often supplied by the landlord either on a sub-metered basis, or rent inclusion basis (i.e., a fixed fee is included in the rent for electricity, which amount may increase based upon increases in electricity rates or increases in electrical usage by the tenant). Base building services other than electricity (such as heat, air conditioning and freight elevator service during business hours, and base building cleaning) are typically provided at no additional cost, with the tenant paying additional rent only for services which exceed base building services or for services which are provided outside normal business hours. These escalations are based on actual expenses incurred in the prior calendar year. If the expenses in the current year are different from those in the prior year, then during the current year, the escalations will be adjusted to reflect the actual expenses for the current year. We record a gain on sale of real estate when title is conveyed to the buyer, subject to the buyer's financial commitment being sufficient to provide economic substance to the sale and we have no substantial economic involvement with the buyer. Interest income on debt and preferred equity investments is accrued based on the outstanding principal amount and contractual terms of the instruments and when, in the opinion of management, it is deemed collectible. Several of the debt and preferred equity investments provide for accrual of interest at specified rates, which differ from current payment terms. Interest is recognized on such loans at the accrual rate subject to management's determination that accrued interest are ultimately collectible, based on the underlying collateral and operations of the borrower. If management cannot make this determination, interest income above the current pay rate is recognized only upon actual receipt. Deferred originations fees, original issue discounts and loan origination costs, if any, are recognized as a reduction to the interest income over the terms of the related investments using the effective interest method. Fees received in connection with loan commitments are also deferred until the loan is funded and are then recognized over the term of the loan as an adjustment to yield. Discounts or premiums associated with the purchase of loans are amortized or accreted into interest income as a yield adjustment on the effective interest method based on expected cashflows through the expected maturity date of the related investment. If we purchase a debt or preferred equity investment at a discount, intend to hold it until maturity and expect to recover the full value of the investment, we accrete the discount into income as an adjustment to yield over the term of the investment. If we purchase a debt or preferred equity investment at a discount with the intention of foreclosing on the collateral, we do not accrete the discount. For debt investments acquired at a discount for credit quality, the difference between contractual cash flows and expected cash flows at acquisition is not accreted. Anticipated exit fees, whose collection is expected, are also recognized over the term of the loan as an adjustment to yield. Debt and preferred equity investments are placed on a non-accrual status at the earlier of the date at which payments become 90 days past due or when, in the opinion of management, a full recovery of interest income becomes doubtful. Interest income recognition on any non-accrual debt or preferred equity investment is resumed when such non-accrual debt or preferred equity investment becomes contractually current and performance is demonstrated to be resumed. Interest is recorded as income on impaired loans only to the extent cash is received. We may syndicate a portion of the loans that we originate or sell these loans individually. When a transaction meets the criteria of sale accounting, we derecognize the loan sold and recognize gain or loss based on the difference between the sales price and the carrying value of the loan sold. Any related unamortized deferred origination fees, loan origination costs, discounts or premiums at the time of sale are recognized as an adjustment to the gain or loss on sale, which is included in investment income on the consolidated statement of income. Any fees received at the time of sale or syndication are recognized as part of investment income.
Reserve for Possible Credit Losses	Reserve for Possible Credit Losses The expense for possible credit losses in connection with debt and preferred equity investments is the charge to earnings to increase the allowance for possible credit losses to the level that we estimate to be adequate, based on Level 3 data, considering delinquencies, loss experience and collateral quality. Other factors considered relate to geographic trends and product diversification, the size of the portfolio and current economic conditions. Based upon these factors, we establish the provision for possible credit losses on each individual investment. When it is probable that we will be unable to collect all amounts contractually due, the investment is considered impaired. Where impairment is indicated on an investment that is held to maturity, a valuation allowance is measured based upon the excess of the recorded investment amount over the net fair value of the collateral. Any deficiency between the carrying amount of an asset and the calculated value of the collateral is charged to expense. We continue to assess or adjust our estimates based on circumstances of a loan and the underlying collateral. If the additional information obtained reflects increased recovery of our investment, we will adjust our reserves accordingly. There were no loan reserves recorded during each of the three and nine months ended September 30, 2014 and 2013. Debt and preferred equity investments held for sale are carried at the lower of cost or fair market value using available market information obtained through consultation with dealers or other originators of such investments as well as discounted cash flow models based on Level 3 data pursuant to ASC 820-10. As circumstances change, management may conclude not to sell an investment designated as held for sale. In such situations, the investment will be reclassified at its net carrying value to debt and preferred equity investments held to maturity. For these reclassified investments, the difference between the current carrying value and the expected cash to be collected at maturity will be accreted into income over the remaining term of the investment.
Income Taxes	Income Taxes SL Green is taxed as a REIT under Section 856(c) of the Code. As a REIT, SL Green generally is not subject to Federal income tax. To maintain its qualification as a REIT, SL Green must distribute at least 90% of its REIT taxable income to its stockholders and meet certain other requirements. If SL Green fails to qualify as a REIT in any taxable year, we will be subject to Federal income tax on SL Green's taxable income at regular corporate rates. SL Green may also be subject to certain state, local and franchise taxes. Under certain circumstances, Federal income and excise taxes may be due on SL Green's undistributed taxable income. The Operating Partnership is a partnership and, as a result, all income and losses of the partnership are allocated to the partners for inclusion in their respective income tax returns. The only provision for income taxes included in the consolidated statements of income relates to the Operating Partnership’s consolidated taxable REIT subsidiaries. The Operating Partnership may also be subject to certain state, local and franchise taxes. Pursuant to amendments to the Code that became effective January 1, 2001, we have elected, and may elect in the future, to treat certain of our existing or newly created corporate subsidiaries as taxable REIT subsidiaries, or TRSs. In general, a TRS may perform non-customary services for the tenants of the Company, hold assets that we cannot hold directly and generally may engage in any real estate or non-real estate related business. The TRSs generate income, resulting in Federal and state income tax liability for these entities. During the three and nine months ended September 30, 2014 and 2013, we recorded a Federal, state and local tax provision of $1.6 million, $6.6 million, $2.1 million and $6.0 million, respectively. We follow a two-step approach for evaluating uncertain tax positions. Recognition (step one) occurs when an enterprise concludes that a tax position, based solely on its technical merits, is more-likely-than-not to be sustained upon examination. Measurement (step two) determines the amount of benefit that is more-likely-than-not to be realized upon settlement. Derecognition of a tax position that was previously recognized would occur when a company subsequently determines that a tax position no longer meets the more-likely-than-not threshold of being sustained. The use of a valuation allowance as a substitute for derecognition of tax positions is prohibited.
Stock-Based Employee Compensation Plans	Stock-Based Employee Compensation Plans We have a stock-based employee compensation plan, described more fully in Note 14, "Share-based Compensation." The Company's stock options are recorded at fair value at the time of issuance. Fair value of the stock options is determined using the Black-Scholes option pricing model. The Black-Scholes model was developed for use in estimating the fair value of traded options, which have no vesting restrictions and are fully transferable. In addition, option valuation models require the input of highly subjective assumptions including the expected stock price volatility. Because our plan has characteristics significantly different from those of traded options and because changes in the subjective input assumptions can materially affect the fair value estimate, in our opinion, the existing models do not necessarily provide a reliable single measure of the fair value of the employee stock options. Compensation cost for stock options, if any, is recognized ratably over the vesting period of the award. Our policy is to grant options with an exercise price equal to the quoted closing market price of the Company's common stock on the grant date. Awards of stock or restricted stock are expensed as compensation over the benefit period based on the fair value of the stock on the grant date. For share-based awards with a performance or market measure, we recognize compensation cost over the requisite service period, using the accelerated attribution expense method. The requisite service period begins on the date the compensation committee of SL Green's board of directors authorizes the award, adopts any relevant performance measures and communicates the award to the employees. For programs with performance measures, the total estimated compensation cost is based on the fair value of the award at the applicable reporting date estimated using a binomial model. For share-based awards for which there is no pre-established performance measure, we recognize compensation cost over the service vesting period, which represents the requisite service period, on a straight-line basis. In accordance with the provisions of our share-based incentive compensation plans, we accept the return of shares of the Company's common stock, at the current quoted market price, from certain key employees to satisfy minimum statutory tax-withholding requirements related to shares that vested during the period. Awards can also be made in the form of a separate series of units of limited partnership interest in the Operating Partnership called long-term incentive plan units, or LTIP units. LTIP units, which can be granted either as free-standing awards or in tandem with other awards under our stock incentive plan, are valued by reference to the value of the Company's common stock at the time of grant, and are subject to such conditions and restrictions as the compensation committee of the Company's board of directors may determine, including continued employment or service, computation of financial metrics and/or achievement of pre-established performance goals and objectives.
Earnings per Share of the Company	Earnings per Share of the Company The Company presents both basic and diluted earnings per share, or EPS. Basic EPS excludes dilution and is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding during the period. Basic EPS includes participating securities, consisting of unvested restricted stock that receive nonforfeitable dividends similar to shares of common stock. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, where such exercise or conversion would result in a lower EPS amount. Diluted EPS also includes units of limited partnership interest. The dilutive effect of stock options is reflected in the weighted average diluted outstanding shares calculation by application of the treasury stock method. There is no dilutive effect for the exchangeable senior notes as the conversion premium will be paid in cash.
Earnings per Unit of the Operating Partnership	Earnings per Unit of the Operating Partnership The Operating Partnership presents both basic and diluted earnings per unit, or EPU. Basic EPU excludes dilution and is computed by dividing net income attributable to common unitholders by the weighted average number of common units outstanding during the period. Basic EPU includes participating securities, consisting of unvested restricted units that receive nonforfeitable dividends similar to shares of common units. Diluted EPU reflects the potential dilution that could occur if securities or other contracts to issue common units were exercised or converted into common units, where such exercise or conversion would result in a lower EPU amount. The dilutive effect of unit options is reflected in the weighted average diluted outstanding units calculation by application of the treasury stock method. There is no dilutive effect for the exchangeable senior notes as the conversion premium will be paid in cash.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Concentration of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash investments, debt and preferred equity investments and accounts receivable. We place our cash investments in excess of insured amounts with high quality financial institutions. The collateral securing our debt and preferred equity investments is primarily located in New York City. See Note 5, "Debt and Preferred Equity Investments." We perform ongoing credit evaluations of our tenants and require most tenants to provide security deposits or letters of credit. Though these security deposits and letters of credit are insufficient to meet the total value of a tenant's lease obligation, they are a measure of good faith and a source of funds to offset the economic costs associated with lost rent and the costs associated with re-tenanting a space. Although the properties in our real estate portfolio are primarily located in Manhattan, we also have properties located in Brooklyn, Long Island, Westchester County, Connecticut and Northern New Jersey.
Reclassification	Reclassification Certain prior year balances have been reclassified to conform to our current year presentation primarily in order to eliminate discontinued operations from income from continuing operations.
Accounting Standards Updates	Accounting Standards Updates In June 2014, the Financial Accounting Standards Board, or the FASB, issued final guidance that requires repurchase-to-maturity transactions to be accounted for as secured borrowings as if the transferor retains effective control, even though the transferred financial assets are not returned to the transferor at settlement and also eliminates existing guidance for repurchase financings (Accounting Standards Update, or ASU, No. 2014-11). New disclosures are required for (1) certain transactions accounted for as secured borrowings and (2) transfers accounted for as sales when the transferor also retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The guidance is effective for the first interim or annual period beginning after December 15, 2014, except for the disclosures related to transactions accounted for as secured borrowings, which are effective for periods beginning after March 15, 2015. Early adoption of this guidance is prohibited. The Company will adopt this standard beginning in the first quarter of 2015. The adoption of this guidance is not anticipated to have a material impact on our consolidated financial statements. In May 2014, the FASB issued a new comprehensive revenue recognition guidance which requires us to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods and services (ASU No. 2014-09). The guidance also requires enhanced disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The guidance is effective for annual and interim periods beginning after December 15, 2016 and early adoption is not permitted. The new guidance can be applied either retrospectively to each prior reporting period presented, or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the new guidance to determine the impact it may have on our consolidated financial statements. In April 2014, the FASB issued new guidance on reporting discontinued operations which raises the threshold for disposals to qualify as discontinued operations (ASU No. 2014-08). The guidance also allows us to have a significant continuing involvement and continuing cash flows with the discontinued operations. Additionally, the guidance requires additional disclosures for discontinued operations and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. The guidance is effective for calendar year public companies beginning in the first quarter of 2015 and is to be applied on a prospective basis for new disposals. Early adoption of this guidance is permitted. The Company will adopt this standard beginning in the first quarter of 2015. The adoption of this guidance will change the presentation of discontinued operations but will not have a material impact on our consolidated financial statements.

Organization and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of commercial office properties



		Consolidated			Unconsolidated		Total
Location	Type	Number of Properties		Square Feet	Number of Properties	Square Feet	Number of Properties	Square Feet	Weighted Average Occupancy(1)
Commercial:
Manhattan	Office	23		18,429,045	7	3,476,115	30	21,905,160	95.4	%
	Retail	8	(2)	394,535	7	283,295	15	677,830	90.3	%
	Development/Redevelopment	9	(3)	1,973,862	4	1,605,782	13	3,579,644	39.7	%
	Fee Interest	3	(3)	1,137,930	—	—	3	1,137,930	100.0	%
		43		21,935,372	18	5,365,192	61	27,300,564	88.2	%
Suburban	Office	27		4,365,400	4	1,222,100	31	5,587,500	81.3	%
	Retail	1		52,000	—	—	1	52,000	100.0	%
	Development/Redevelopment	1		85,000	1	65,641	2	150,641	50.5	%
		29		4,502,400	5	1,287,741	34	5,790,141	80.7	%
Total commercial properties		72		26,437,772	23	6,652,933	95	33,090,705	86.8	%
Residential:
Manhattan	Residential	3	(2)	735,587	—	—	3	735,587	94.1	%
Suburban	Residential	1		66,611	—	—	1	66,611	79.2	%
Total residential properties		4		802,198	—	—	4	802,198	93.2	%
Total portfolio		76		27,239,970	23	6,652,933	99	33,892,903	87.0	%

______________________________________________________________________


(1)	The weighted average occupancy for commercial properties represents the total occupied square feet divided by total available rentable square feet. The weighted average occupancy for residential properties represents the total occupied units divided by total available units.


(2)	As of September 30, 2014, we owned a building that was comprised of 270,132 square feet of retail space and 222,855 square feet of residential space. For the purpose of this report, we have included the building as part of retail properties and have shown the square footage under its respective classifications.


(3)	Includes two properties, which are held for sale as of September 30, 2014

Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Summary of identified intangible assets (acquired above-market leases and in-place leases) and intangible liabilities (acquired below-market leases)



	September 30, 2014			December 31, 2013
Identified intangible assets (included in other assets):
Gross amount	$	674,672		$	746,704
Accumulated amortization	(371,452		)	(343,339		)
Net	$	303,220		$	403,365
Identified intangible liabilities (included in deferred revenue):
Gross amount	$	655,755		$	671,380
Accumulated amortization	(470,235		)	(429,138		)
Net	$	185,520		$	242,242

Schedule of marketable securities

At September 30, 2014 and December 31, 2013, we held the following marketable securities (in thousands):



	September 30, 2014		December 31, 2013
Equity marketable securities	$	4,315	$	4,307
Commercial mortgage-backed securities	34,978		24,419
Rake bonds	—		3,323
Total marketable securities available-for-sale	$	39,293	$	32,049

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Property Acquisitions (Tables)

9 Months Ended

Sep. 30, 2014

Business Combinations [Abstract]

Schedule of Pro Forma Information



	Three Months Ended September 30,			Nine Months Ended September 30,
(In thousands, except per share amounts)	2014		2013	2014		2013
Actual revenues since acquisition	$	28,481		$	43,378
Actual net income since acquisition	9,213			86,057
Pro forma revenues	390,393		366,235	1,175,593		1,102,973
Pro forma income from continuing operations	40,576		27,361	255,713		149,764
Pro forma basic earnings per share	0.68		0.44	4.02		1.52
Pro forma diluted earnings per share	0.68		0.44	4.00		1.52
Pro forma basic earnings per unit	0.68		0.44	4.02		1.52
Pro forma diluted earnings per unit	0.68		0.44	4.00		1.52

______________________________________________________________________

(1)

Properties Held for Sale and Dispositions (Tables)

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Summary of income from discontinued operations

The following table summarizes net income from discontinued operations for the three and nine months ended September 30, 2014 and 2013 (in thousands):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2014			2013		2014		2013
Revenues
Rental revenue, net	$	9,504		$	23,606	$	44,676	$	73,738
Escalation and reimbursement revenues	(194		)	3,748		4,413		11,459
Other income	—			9		21		523
Total revenues	9,310			27,363		49,110		85,720
Operating expenses	773			5,149		7,101		16,624
Real estate taxes	787			4,170		6,618		12,533
Ground rent	—			2,196		3,001		5,778
Interest expense, net of interest income	2,874			4,877		10,983		15,019
Amortization of deferred financing costs	48			210		369		630
Depreciable real estate reserves	—			—		—		2,150
Depreciation and amortization	678			3,311		5,434		13,133
Transaction related costs, net of recoveries	115			15		155		2
Total expenses	5,275			19,928		33,661		65,869
Net income from discontinued operations	$	4,035		$	7,435	$	15,449	$	19,851

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

Debt and Preferred Equity Investments (Tables)

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Summary of debt investments

As of September 30, 2014 and December 31, 2013, we held the following debt investments with an aggregate weighted average current yield of 10.72% at September 30, 2014 (in thousands):



Loan Type	September 30, 2014 Funding Obligations		September 30, 2014 Senior Financing		September 30, 2014 Carrying Value(1)		December 31, 2013 Carrying Value(1)		Initial Maturity Date
Fixed Rate Investments:
Jr. Mortgage Participation	$	—	$	398,500	$	11,913	$	11,856	March 2015
Jr. Mortgage Participation/Mezzanine Loan	—		205,000		70,080		68,319		February 2016
Jr. Mortgage Participation/Mezzanine Loan	—		164,744		45,355		44,742		May 2016
Mezzanine Loan	—		177,000		14,298		15,012		May 2016
Jr. Mortgage Participation	—		133,000		49,000		49,000		June 2016
Mezzanine Loan	—		165,000		71,592		71,312		November 2016
Jr. Mortgage Participation/Mezzanine Loan⁽²⁾	—		1,109,000		97,101		26,884		March 2017
Other⁽²⁾	—		—		65,674		54,099		March 2017
Mezzanine Loan⁽³⁾	19,555		521,750		21,456		20,954		June 2017
Mezzanine Loan	—		539,000		50,412		—		July 2018
Mortgage Loan⁽⁴⁾	—		—		26,196		—		February 2019
Mortgage Loan	—		—		667		—		August 2019
Mezzanine Loan	—		15,000		3,500		3,500		September 2021
Mezzanine Loan⁽⁵⁾	—		90,000		19,929		19,926		November 2023
Total fixed rate	$	19,555	$	3,517,994	$	547,173	$	385,604
Floating Rate Investments:
Mezzanine Loan	15,309		50,000		29,650		—		April 2015
Mortgage/Mezzanine Loan	—		—		109,252		—		June 2015
Mezzanine Loan	—		110,000		49,482		49,110		September 2015
Mezzanine Loan	8,262		110,295		41,675		27,662		December 2015
Mezzanine Loan	—		775,000		73,602		72,823		March 2016
Mezzanine Loan⁽⁶⁾	—		160,000		22,561		22,526		June 2016
Mezzanine Loan	—		115,000		24,909		25,590		July 2016
Mezzanine Loan	8,448		172,105		28,855		25,725		November 2016
Mezzanine Loan	333		33,833		11,825		11,798		December 2016
Mortgage/Mezzanine Loan	3,130		109,351		38,186		—		July 2017
Mortgage/Mezzanine Loan	—		—		22,786		—		July 2017
Mortgage/Mezzanine Loan	—		—		16,835		—		September 2017
Jr. Mortgage Participation/Mezzanine Loan	—		55,000		20,538		20,553		July 2018
Mortgage/Mezzanine Loan	—		—		17,996		—		February 2019
Mezzanine Loan	—		38,000		21,798		—		March 2019
Mortgage Loan⁽⁷⁾	—		—		—		30,000
Jr. Mortgage Participation⁽⁸⁾	—		—		—		24,046



Loan Type	September 30, 2014 Funding Obligations		September 30, 2014 Senior Financing		September 30, 2014 Carrying Value(1)		December 31, 2013 Carrying Value(1)			Initial Maturity Date
Jr. Mortgage Participation/Mezzanine Loan⁽⁸⁾	—		—		—		131,724
Mezzanine Loan⁽⁹⁾	—		—		—		59,892
Jr. Mortgage Participation⁽⁹⁾	—		—		—		10,873
Mezzanine Loan⁽⁹⁾	—		—		—		38,549
Total floating rate	$	35,482	$	1,728,584	$	529,950	$	550,871
Total	$	55,037	$	5,246,578	1,077,123		936,475
Loan loss reserve					—		(1,000		)
Total					$	1,077,123	$	935,475

______________________________________________________________________


(1)	Carrying value is net of discounts, original issue discounts and deferred origination fees.

(2)


(3)	Carrying value is net of $41.3 million that was participated out, which is included in other assets and other liabilities on the consolidated balance sheets as a result of the transfer not meeting the conditions for sale accounting.


(4)	In September 2014, we acquired a $26.4 million mortgage loan at a $0.2 million discount and a $5.7 million junior mortgage participation at a $5.7 million discount. The junior mortgage participation was a nonperforming loan at acquisition and is currently on a non-accrual status.


(5)	Carrying value is net of $5.0 million that was participated out, which is included in other assets and other liabilities on the consolidated balance sheets as a result of the transfer not meeting the conditions for sale accounting.


(6)	Carrying value is net of $7.4 million that was participated out, which is included in other assets and other liabilities on the consolidated balance sheets as a result of the transfer not meeting the conditions for sale accounting.


(7)	This loan was repaid in May 2014.


(8)	This loan was repaid in July 2014.


(9)	This loan was repaid in August 2014.

Summary of preferred equity investments

As of September 30, 2014 and December 31, 2013, we held the following preferred equity investments with an aggregate weighted average current yield of 9.76% at September 30, 2014 (in thousands):



Type	September 30, 2014 Senior Financing		September 30, 2014 Carrying Value (1)		December 31, 2013 Carrying Value (1)		Initial Mandatory Redemption
Preferred equity⁽²⁾	$	550,000	$	121,158	$	115,198	July 2015
Preferred equity⁽²⁾	926,260		224,720		218,330		July 2016
Preferred equity	70,000		9,950		9,940		November 2017
Preferred equity⁽³⁾	—		—		25,896
	$	1,546,260	$	355,828	$	369,364

______________________________________________________________________


(1)	Carrying value is net of discounts and deferred origination fees.


(2)	The difference between the pay and accrual rates is included as an addition to the principal balance outstanding.


(3)	This preferred equity investment was redeemed in April 2014.

Rollforward of total allowance for loan loss reserves

The following table is a rollforward of our total loan loss reserves at September 30, 2014 and December 31, 2013 (in thousands):



	September 30, 2014			December 31, 2013
Balance at beginning of year	$	1,000		$	7,000
Expensed	—			—
Recoveries	—			—
Charge-offs and reclassifications	(1,000		)	(6,000		)
Balance at end of period	$	—		$	1,000

Investment in Unconsolidated Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2014

Equity Method Investments and Joint Ventures [Abstract]

Schedule of general information on joint ventures

The table below provides general information on each of our joint ventures as of September 30, 2014 (amounts in thousands):



Property	Partner	Ownership Interest	Economic Interest	Square Feet	Acquisition Date	Acquisition Price⁽¹⁾
100 Park Avenue	Prudential	49.90%	49.90%	834	January 2000	$	95,800
717 Fifth Avenue	Sutton/Private Investor	10.92%	10.92%	120	September 2006	251,900
800 Third Avenue	Private Investors	42.95%	42.95%	526	December 2006	285,000
1745 Broadway	Witkoff/SITQ/Lehman Bros.	32.26%	32.26%	674	April 2007	520,000
1 and 2 Jericho Plaza	Onyx/Credit Suisse	20.26%	20.26%	640	April 2007	210,000
The Meadows	Onyx	50.00%	50.00%	582	September 2007	111,500
600 Lexington Avenue	CPPIB	55.00%	55.00%	304	May 2010	193,000
11 West 34th Street	Private Investor/Sutton	30.00%	30.00%	17	December 2010	10,800
7 Renaissance	Cappelli	50.00%	50.00%	37	December 2010	4,000
3 Columbus Circle⁽²⁾	Moinian	48.90%	48.90%	769	January 2011	500,000
280 Park Avenue	Vornado	50.00%	49.50%	1,237	March 2011	400,000
1552-1560 Broadway⁽³⁾	Sutton	50.00%	50.00%	49	August 2011	136,550
724 Fifth Avenue	Sutton	50.00%	50.00%	65	January 2012	223,000
10 East 53rd Street	CPPIB	55.00%	55.00%	390	February 2012	252,500
33 Beekman⁽⁴⁾	Harel/Naftali	45.90%	45.90%	145	August 2012	31,000
521 Fifth Avenue	Plaza	50.50%	50.50%	460	November 2012	315,000
21 East 66th Street⁽⁵⁾	Private Investors	32.28%	32.28%	17	December 2012	75,000
315 West 36th Street	Private Investors	35.50%	35.50%	148	December 2012	45,000
650 Fifth Avenue⁽⁶⁾	Sutton	50.00%	50.00%	32	November 2013	—
121 Greene Street	Sutton	50.00%	50.00%	7	September 2014	28,200

______________________________________________________________________


(1)	Acquisition price represents the actual or implied gross purchase price for the joint venture.


(2)	As a result of the sale of a condominium interest in September 2012, Young & Rubicam, Inc., or Y&R, owns a portion of the property, generally floors three through eight referred to as Y&R units. Because the joint venture has an option to repurchase the Y&R units, the gain associated with this sale was deferred.


(3)	The purchase price pertained only to the purchase of the 1552 Broadway interest which comprised 13,045 square feet. The joint venture also owns a long-term leasehold interest in the retail space and certain other spaces at 1560 Broadway, which is adjacent to 1552 Broadway.


(4)	The joint venture owns a fee interest in the property and will develop an approximately 30 story building for student housing. Upon completion of the development, the joint venture will convey a long-term ground lease condominium interest in the building to Pace.


(5)	We hold a 32.28% interest in three retail and two residential units at the property and a 16.14% interest in four residential units at the property.

(6)

Schedule of first mortgage notes payable collateralized by the respective joint venture properties and assignment of leases

The senior mortgage notes and other loans payable collateralized by the respective joint venture properties and assignment of leases at September 30, 2014 and December 31, 2013, respectively, are as follows (amounts in thousands):



Property	Maturity Date	Interest Rate(1)		September 30, 2014		December 31, 2013
Fixed Rate Debt:
7 Renaissance	December 2015	10.00	%	$	1,868	$	1,276
11 West 34th Street	January 2016	4.82	%	16,982		17,205
280 Park Avenue	June 2016	6.57	%	701,928		706,886
1745 Broadway	January 2017	5.68	%	340,000		340,000
1 and 2 Jericho Plaza	May 2017	5.65	%	163,750		163,750
800 Third Avenue	August 2017	6.00	%	20,910		20,910
315 West 36th Street	December 2017	3.16	%	25,000		25,000
717 Fifth Avenue⁽²⁾	July 2022	4.45	%	300,000		300,000
21 East 66th Street	April 2023	3.60	%	12,000		12,000
717 Fifth Avenue⁽²⁾	July 2024	9.00	%	311,698		304,000
388 and 390 Greenwich Street⁽³⁾	—	—		—		996,082
100 Park Avenue⁽⁴⁾	—	—		—		209,786
21 West 34th Street⁽⁵⁾	—	—		—		100,000
1604-1610 Broadway⁽⁶⁾	—	—		—		27,000
Total fixed rate debt				$	1,894,136	$	3,223,895
Floating Rate Debt:
The Meadows	September 2015	7.75	%	67,350		67,350
3 Columbus Circle⁽⁷⁾	April 2016	2.34	%	233,058		239,233
1552 Broadway⁽⁸⁾	April 2016	4.21	%	180,885		158,690
Other loan payable	June 2016	1.06	%	30,000		30,000
10 East 53rd Street	February 2017	2.66	%	125,000		125,000
724 Fifth Avenue⁽⁹⁾	April 2017	2.58	%	275,000		120,000
33 Beekman⁽¹⁰⁾	August 2017	2.91	%	43,707		18,362
600 Lexington Avenue	October 2017	2.24	%	117,717		120,616
521 Fifth Avenue	November 2019	2.36	%	170,000		170,000
100 Park Avenue⁽⁴⁾	February 2021	1.91	%	360,000		—
21 East 66th Street	June 2033	2.88	%	1,902		1,959
388 and 390 Greenwich Street⁽³⁾	—	—		—		142,297
747 Madison Avenue	—	—		—		33,125
West Coast Office portfolio⁽¹¹⁾	—	—		—		526,290
180/182 Broadway⁽¹²⁾	—	—		—		89,893
Total floating rate debt				$	1,604,619	$	1,842,815
Total joint venture mortgages and other loans payable				$	3,498,755	$	5,066,710

_________________________________


(1)	Effective weighted average interest rate for the three months ended September 30, 2014, taking into account interest rate hedges in effect during the period.


(2)	These loans are comprised of a $300.0 million fixed rate mortgage loan and $290.0 million mezzanine loan. The mezzanine loan is subject to accretion based on the difference between contractual interest rate and contractual pay rate.


(3)	In May 2014, we acquired the interest of our joint venture thereby consolidating the entity. Simultaneous with the acquisition, we refinanced the mortgage and incurred a net loss on early extinguishment of debt of $2.4 million.


(4)	In February 2014, the joint venture replaced the previous fixed rate mortgage with a $360.0 million, seven-year floating rate, mortgage and incurred a net loss on early extinguishment of $3.2 million.


(5)	In January 2014, we sold our interest in the joint venture, inclusive of our share of the joint venture debt.


(6)	This loan was in default since November 2009 due to the non-payment of debt service. In January 2014, the joint venture relinquished its ground lease position to the lender. During the nine months ended September 30, 2014, we recognized $7.7 million of incentive income, which is included in other income on the consolidated statements of income.

(7)


(8)	These loans are comprised of a $150.0 million mortgage loan and a $41.5 million mezzanine loan and are subject to two one-year extension options. As of September 30, 2014, $5.7 million of the mortgage loan and $4.9 million of the mezzanine loan remained unfunded.


(9)	In April 2014, the joint venture refinanced the previous mortgage with a $235.0 million mortgage and a $40.0 million mezzanine loan and incurred a net loss on early extinguishment of debt of $1.2 million.


(10)	This loan has a committed amount of $75.0 million, which is recourse to us. Our partner has indemnified us for its pro rata share of the recourse guarantee. A portion of the guarantee terminates upon the joint venture reaching certain milestones. We believe it is unlikely that we will be required to perform under this guarantee.


(11)	In March 2014, we sold our interest in the joint venture, inclusive of our share in the joint venture debt.


(12)	In September 2014, the joint venture sold the property and repaid the debt.

Schedule of combined balance sheets for the unconsolidated joint ventures

The combined balance sheets for the unconsolidated joint ventures, at September 30, 2014 and December 31, 2013, are as follows (in thousands):



	September 30, 2014		December 31, 2013
Assets
Commercial real estate property, net	$	4,850,149	$	6,846,021
Other assets	746,234		827,282
Total assets	$	5,596,383	$	7,673,303
Liabilities and members' equity
Mortgages and other loans payable	$	3,498,755	$	5,066,710
Other liabilities	474,427		596,960
Members' equity	1,623,201		2,009,633
Total liabilities and members' equity	$	5,596,383	$	7,673,303
Company's investments in unconsolidated joint ventures	$	996,842	$	1,113,218

Schedule of combined statements of income for the unconsolidated joint ventures

The combined statements of income for the unconsolidated joint ventures, from acquisition date through the three and nine months ended September 30, 2014 and 2013 are as follows (in thousands):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2014		2013			2014			2013
Total revenues	$	114,831	$	156,571		$	406,464		$	462,776
Operating expenses	18,530		29,211			63,575			86,027
Ground rent	2,638		657			7,295			1,972
Real estate taxes	15,867		19,105			48,209			53,368
Interest expense, net of interest income	40,885		56,169			137,949			169,137
Amortization of deferred financing costs	2,837		2,869			9,496			12,454
Transaction related costs, net of recoveries	501		—			565			—
Depreciation and amortization	28,324		49,402			107,786			144,552
Total expenses	109,582		157,413			374,875			467,510
Loss on early extinguishment of debt	—		—			(6,743		)	—
Net income (loss) before gain on sale	$	5,249	$	(842	)	$	24,846		$	(4,734	)
Company's equity in net income from unconsolidated joint ventures	$	6,034	$	2,939		$	20,781		$	4,251

Deferred Costs (Tables)

9 Months Ended

Sep. 30, 2014

Deferred Costs [Abstract]

Schedule of components of deferred costs

Deferred costs at September 30, 2014 and December 31, 2013 consisted of the following (in thousands):



	September 30, 2014			December 31, 2013
Deferred leasing	$	353,316		$	326,379
Deferred financing	199,081			157,088
	552,397			483,467
Less accumulated amortization	(241,537		)	(216,409		)
Deferred costs, net	$	310,860		$	267,058

Mortgages and Other Loans Payable (Tables)

9 Months Ended

Sep. 30, 2014

Mortgages and Other Loans Payable

Schedule of first mortgages and other loans payable collateralized by the respective properties and assignment of leases

The first mortgages and other loans payable collateralized by the respective properties and assignment of leases at September 30, 2014 and December 31, 2013 were as follows (amounts in thousands):



Property	Maturity Date	Interest Rate(1)		September 30, 2014		December 31, 2013
Fixed Rate Debt:
125 Park Avenue⁽²⁾	October 2014	5.75	%	$	146,250	$	146,250
711 Third Avenue	June 2015	4.99	%	120,000		120,000
625 Madison Avenue	November 2015	7.27	%	116,383		120,830
500 West Putnam Avenue	January 2016	5.52	%	23,112		23,529
Landmark Square	December 2016	4.00	%	81,685		82,909
485 Lexington Avenue	February 2017	5.61	%	450,000		450,000
120 West 45th Street	February 2017	6.12	%	170,000		170,000
762 Madison Avenue	February 2017	3.75	%	8,087		8,211
2 Herald Square⁽³⁾	April 2017	5.36	%	191,250		191,250
885 Third Avenue	July 2017	6.26	%	267,650		267,650
388-390 Greenwich Street⁽⁴⁾	June 2018	3.80	%	504,000		—
Other loan payable⁽⁵⁾	September 2019	8.00	%	50,000		50,000
One Madison Avenue	May 2020	5.91	%	571,284		587,336
100 Church	July 2022	4.68	%	229,472		230,000
919 Third Avenue⁽⁶⁾	June 2023	5.12	%	500,000		500,000
400 East 57th Street	February 2024	4.13	%	69,201		70,000
400 East 58th Street	February 2024	4.13	%	29,658		30,000
420 Lexington Avenue⁽⁷⁾	October 2024	6.77	%	300,000		182,641
1515 Broadway	March 2025	3.93	%	900,000		900,000
Series J Preferred Units⁽⁸⁾	April 2051	3.75	%	4,000		—
609 Partners, LLC⁽⁹⁾	—	—		—		23
Total fixed rate debt				$	4,732,032	$	4,130,629
Floating Rate Debt:
Master repurchase agreement⁽¹⁰⁾	December 2014	3.37	%	100,000		91,000
180 Maiden Lane⁽¹¹⁾	November 2016	2.34	%	256,152		262,706
388-390 Greenwich Street⁽⁴⁾	June 2018	1.91	%	946,000		—
248-252 Bedford Avenue⁽¹²⁾	June 2019	1.66	%	29,000		22,000
220 East 42nd Street	October 2020	1.76	%	275,000		275,000
16 Court Street⁽¹³⁾	0	0		—		79,243
Total floating rate debt				$	1,606,152	$	729,949
Total mortgages and other loans payable⁽¹⁴⁾				$	6,338,184	$	4,860,578

_________________________________


(1)	Effective weighted average interest rate for the three months ended September 30, 2014, taking into account interest rate hedges in effect during the period.


(2)	This loan was repaid at maturity.


(3)	This property is held for sale at September 30, 2014 and the related mortgage is included in liabilities related to assets held for sale.


(4)	Simultaneous with the acquisition of our joint venture partner's interest, we refinanced the $1.1 billion floating rate mortgage with a $1.5 billion seven-year floating rate mortgage, and have consolidated the property.


(5)	This loan is secured by a portion of a preferred equity investment.


(6)	We own a 51.0% controlling interest in the joint venture that is the borrower on this loan.


(7)	In September 2014, we refinanced the $181.0 million fixed rate mortgage with a $300.0 million 10-year fixed rate mortgage and incurred a loss on early extinguishment of debt of $24.5 million, which consisted mainly of a prepayment penalty fee.

(8)


(9)	In April 2014, the remaining 22,658 Series E Preferred Units of the Operating Partnership were canceled.


(10)	The Master Repurchase Agreement, or MRA, has a maximum facility capacity of $300.0 million.


(11)	In connection with this consolidated joint venture obligation, we executed a master lease agreement. Our partner has executed a contribution agreement to reflect its pro rata share of the obligation under the master lease. This property is held for sale at September 30, 2014 and the related mortgage is included in liabilities related to assets held for sale.


(12)	In June 2014, we replaced the previous floating rate mortgage with a $29.0 million, five-year floating rate mortgage and incurred a net loss on early extinguishment of debt of $0.5 million.


(13)	In April 2014, we repaid the loan and incurred a loss on early extinguishment of debt of $0.5 million.


(14)	Includes mortgages related to 2 Herald Square and 180 Maiden, which are currently held for sale.

Corporate Indebtedness (Tables)

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Schedule of senior unsecured notes and other related disclosures by scheduled maturity date

The following table sets forth our senior unsecured notes and other related disclosures as of September 30, 2014 and December 31, 2013 by scheduled maturity date (amounts in thousands):



Issuance	September 30, 2014 Unpaid Principal Balance		September 30, 2014 Accreted Balance		December 31, 2013 Accreted Balance		Coupon Rate(1)		Effective Rate		Term (in Years)	Maturity Date
March 31, 2006⁽²⁾	$	255,308	$	255,238	$	255,206	6.00	%	6.00	%	10	March 31, 2016
October 12, 2010⁽³⁾	345,000		306,187		297,837		3.00	%	3.00	%	7	October 15, 2017
August 5, 2011⁽⁴⁾	250,000		249,728		249,681		5.00	%	5.00	%	7	August 15, 2018
March 16, 2010⁽⁴⁾	250,000		250,000		250,000		7.75	%	7.75	%	10	March 15, 2020
November 15, 2012⁽⁴⁾	200,000		200,000		200,000		4.50	%	4.50	%	10	December 1, 2022
June 27, 2005⁽²⁾⁽⁵⁾	7		7		7		4.00	%	4.00	%	20	June 15, 2025
March 26, 2007⁽⁶⁾	10,008		10,008		10,701		3.00	%	3.00	%	20	March 30, 2027
August 13, 2004⁽²⁾⁽⁷⁾	—		—		75,898
	$	1,310,323	$	1,271,168	$	1,339,330

_________________________________


(1)	Interest on the senior unsecured notes is payable semi-annually with principal and unpaid interest due on the scheduled maturity dates.


(2)	Issued by ROP.

(3)


(4)	Issued by the Company, the Operating Partnership and ROP, as co-obligors.

(5)

(6)


(7)	In August 2014, these notes were repaid at maturity.

Schedule of combined aggregate principal maturities



	Scheduled Amortization		Principal Repayments			Revolving Credit Facility		Trust Preferred Securities		Term Loan and Senior Unsecured Notes		Total		Joint Venture Debt
Remaining 2014	$	11,038	$	146,250		$	—	$	—	$	—	$	157,288	$	2,454
2015	44,701		329,537			—		—		7		374,245		44,446
2016	54,158		338,762		(1)	—		—		255,308		648,228		564,269
2017	61,063		1,086,579		(1)	—		—		355,008		1,502,650		446,950
2018	64,462		—			244,000		—		250,000		558,462		28
Thereafter	274,230		3,927,404			—		100,000		1,233,000		5,534,634		353,580
	$	509,652	$	5,828,532	(1)	$	244,000	$	100,000	$	2,093,323	$	8,775,507	$	1,411,727

________________________________


(1)	Principal repayments include the mortgages at 180 Maiden Lane and 2 Herald Center, which are included in liabilities related to assets held for sale.

Schedule of consolidated interest expense, excluding capitalized interest

Consolidated interest expense, excluding capitalized interest, was comprised of the following (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Interest expense	$	83,158		$	78,770		$	238,285		$	234,303
Interest income	(782		)	(544		)	(1,861		)	(1,441		)
Interest expense, net of interest income	$	82,376		$	78,226		$	236,424		$	232,862
Interest capitalized	$	7,972		$	3,091		$	18,689		$	10,082

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2014

Schedule of amounts due from/to related parties

Amounts due from related parties at September 30, 2014 and December 31, 2013 consisted of the following (in thousands):



	September 30, 2014		December 31, 2013
Due from joint ventures	$	1,260	$	2,376
Other	12,002		6,154
Related party receivables	$	13,262	$	8,530

Noncontrolling Interests on the Company's Consolidated Financial Statements (Tables)

9 Months Ended

Sep. 30, 2014

Noncontrolling Interest [Abstract]

Schedule of Noncontrolling Interest

Below is the rollforward analysis of the activity relating to the noncontrolling interests in the Operating Partnership as of September 30, 2014, and December 31, 2013 (in thousands):



	September 30, 2014			December 31, 2013
Balance at beginning of period	$	265,476		$	212,907
Distributions	(5,482		)	(4,146		)
Issuance of common units	22,862			24,750
Redemption of common units	(26,392		)	(17,287		)
Net income	16,010			3,023
Accumulated other comprehensive income allocation	347			611
Fair value adjustment	108,453			45,618
Balance at end of period	$	381,274		$	265,476

Stockholders' Equity of the Company (Tables)

9 Months Ended

Sep. 30, 2014

Stockholders' Equity Note [Abstract]

Schedule of Earnings Per Share

SL Green's earnings per share for the three and nine months ended September 30, 2014 and 2013 is computed as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator	2014		2013		2014		2013
Basic Earnings:
Income attributable to SL Green common stockholders	$	64,688	$	37,025	$	446,319	$	64,210
Effect of Dilutive Securities:
Redemption of units to common shares	2,636		1,110		16,010		1,909
Diluted Earnings:
Income attributable to SL Green common stockholders	$	67,324	$	38,135	$	462,329	$	66,119



	Three Months Ended September 30,		Nine Months Ended September 30,
Denominator	2014	2013	2014	2013
Basic Shares:
Weighted average common stock outstanding	95,734	91,988	95,437	91,684
Effect of Dilutive Securities:
Redemption of units to common shares	3,585	2,792	3,423	2,705
Stock-based compensation plans	387	236	462	242
Diluted weighted average common stock outstanding	99,706	95,016	99,322	94,631

Partners' Capital of the Operating Partnership (Tables)

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Schedule of calculation of numerator and denominator in earnings per unit

The Operating Partnership's earnings per unit for the three and nine months ended September 30, 2014 and 2013 is computed as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator	2014		2013		2014		2013
Basic and Diluted Earnings:
Income attributable to SLGOP common unitholders	$	67,324	$	38,135	$	462,329	$	66,119



	Three Months Ended September 30,		Nine Months Ended September 30,
Denominator	2014	2013	2014	2013
Basic units:
Weighted average common units outstanding	99,319	94,780	98,860	94,389
Effect of Dilutive Securities:
Stock-based compensation plans	387	236	462	242
Diluted weighted average common units outstanding	99,706	95,016	99,322	94,631

Share-based Compensation (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of weighted average assumptions used to estimate the grant date fair value of options granted



	September 30, 2014		December 31, 2013
Dividend yield	1.60	%	1.92	%
Expected life of option	3.6 years		4.1 years
Risk-free interest rate	1.11	%	0.96	%
Expected stock price volatility	33.67	%	36.12	%

Summary of the status of stock options and changes during the period



	September 30, 2014					December 31, 2013
	Options Outstanding			Weighted Average Exercise Price		Options Outstanding			Weighted Average Exercise Price
Balance at beginning of year	1,765,034			$	83.24	1,201,000			$	75.05
Granted	9,000			106.03		828,100			87.23
Exercised	(289,793		)	70.77		(223,531		)	53.93
Lapsed or cancelled	(53,235		)	90.20		(40,535		)	83.94
Balance at end of period	1,431,006			85.65		1,765,034			83.24
Options exercisable at end of period	439,482			89.20		461,458			89.38
Weighted average fair value of options granted during the period	$	219,823				$	18,041,576

Summary of restricted stock and charges during the period



	September 30, 2014			December 31, 2013
Balance at beginning of year	2,994,197			2,804,901
Granted	—			192,563
Cancelled	(2,434		)	(3,267		)
Balance at end of period	2,991,763			2,994,197
Vested during the period	73,168			21,074
Compensation expense recorded	$	7,267,923		$	6,713,155
Weighted average fair value of restricted stock granted during the period	$	—		$	17,386,949

Accumulated Other Comprehensive Loss of the Company (Tables)

9 Months Ended

Sep. 30, 2014

SL Green Realty Corp

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables set forth the changes in accumulated other comprehensive income (loss) by component as of September 30, 2014:



	Net unrealized gain (loss) on derivative instruments (1)			SL Green’s share of joint venture net unrealized income (loss) on derivative instruments (2)			Unrealized gains and loss on marketable securities		Total
Balance at December 31, 2013	$	(15,125	)	$	(4,870	)	$	4,784	$	(15,211	)
Other comprehensive income before reclassifications	1,293			4,349			1,209		6,851
Amounts reclassified from accumulated other comprehensive income	3,658			1,806			—		5,464
Balance at September 30, 2014	$	(10,174	)	$	1,285		$	5,993	$	(2,896	)

___________________________

(1)


(2)	Amounts reclassified from accumulated other comprehensive income are included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of income.

Accumulated Other Comprehensive Loss of the Operating Partnership (Tables)

9 Months Ended

Sep. 30, 2014

SL Green Operating Partnership

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables set forth the changes in accumulated other comprehensive income (loss) by component as of September 30, 2014:



	Net unrealized gain (loss) on derivative instruments (1)			SLGOP’s share of joint venture net unrealized income (loss) on derivative instruments (2)			Unrealized gains and loss on marketable securities		Total
Balance at December 31, 2013	$	(15,573	)	$	(5,015	)	$	4,926	$	(15,662	)
Other comprehensive income before reclassifications	1,245			4,475			1,282		7,002
Amounts reclassified from accumulated other comprehensive income	3,790			1,870			—		5,660
Balance at September 30, 2014	$	(10,538	)	$	1,330		$	6,208	$	(3,000	)

___________________________

(1)


(2)	Amounts reclassified from accumulated other comprehensive income are included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of income.

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring



	September 30, 2014
	Total		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	39,293	$	4,315	$	34,978	$	—
Liabilities:
Interest rate swap agreements (included in accrued interest payable and other liabilities)	$	14,114	$	—	$	14,114	$	—



	December 31, 2013
	Total		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	32,049	$	4,307	$	24,419	$	3,323
Liabilities:
Interest rate swap agreements (included in accrued interest payable and other liabilities)	$	1,329	$	—	$	1,329	$	—

Fair Value, by Balance Sheet Grouping

The following table provides the carrying value and fair value of these financial instruments as of September 30, 2014 and December 31, 2013 (in thousands):



	September 30, 2014				December 31, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value
Debt and preferred equity investments	$	1,432,951	(1)		$	1,304,839	(1)

Fixed rate debt	$	6,133,200	$	6,536,977	$	5,599,960	$	5,886,980
Variable rate debt	2,603,152		2,627,547		1,319,948		1,327,422
	$	8,736,352	$	9,164,524	$	6,919,908	$	7,214,402

_____________________________________


(1)	Debt and preferred equity investments had an estimated fair value ranging between $1.4 billion and $1.6 billion at September 30, 2014. At December 31, 2013, debt and preferred equity investments had an estimated fair value ranging between $1.3 billion and $1.4 billion.

Financial Instruments: Derivatives and Hedging (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional and fair value of derivative financial instruments and foreign currency hedges



	Notional Value (in thousands)		Strike Rate		Effective Date	Expiration Date	Balance Sheet Location	Fair Value (in thousands)
Interest Rate Cap	$	946,000	4.750	%	May 2014	May 2016	Other Assets	$	52
Interest Rate Cap	504,000		4.750	%	May 2014	May 2016	Other Assets	27
Interest Rate Cap - Sold	504,000		4.750	%	May 2014	May 2016	Other Liabilities	(27		)
Interest Rate Cap	263,426		6.000	%	November 2013	November 2015	Other Assets	—
Interest Rate Cap	137,500		4.000	%	October 2013	September 2015	Other Assets	—
Interest Rate Swap⁽¹⁾	144,000		2.236	%	December 2012	December 2017	Other Liabilities	(4,603		)
Interest Rate Swap⁽¹⁾	72,000		2.310	%	December 2012	December 2017	Other Liabilities	(2,470		)
Interest Rate Swap⁽¹⁾	72,000		2.310	%	December 2012	December 2017	Other Liabilities	(2,467		)
Interest Rate Swap⁽¹⁾	57,600		1.990	%	December 2012	December 2017	Other Liabilities	(1,392		)
Interest Rate Swap⁽¹⁾	86,400		1.948	%	December 2012	December 2017	Other Liabilities	(1,972		)
Interest Rate Swap⁽¹⁾	72,000		1.345	%	December 2012	December 2017	Other Liabilities	(273		)
Interest Rate Swap	30,000		2.295	%	July 2010	June 2016	Other Liabilities	(893		)
Interest Rate Swap	8,500		0.740	%	February 2012	February 2015	Other Liabilities	(17		)
								$	(14,035	)

__________________________


(1)	As a result of the acquisition and consolidation of 388-390 Greenwich Street, we have assumed these derivative instruments and have designated them as hedges.

Schedule of effect of derivative financial instruments on consolidated statements of income



	Amount of Gain or (Loss) Recognized in Other Comprehensive Loss (Effective Portion)					Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)				Location of Gain Recognized in Income on Derivative	Amount of Gain Recognized into Income (Ineffective Portion)
	Three Months Ended September 30,						Three Months Ended September 30,					Three Months Ended September 30,
Derivative	2014		2013				2014		2013			2014		2013
Interest Rate Swaps/Caps	$	1,761	$	(160	)	Interest expense	$	1,826	$	320	Interest expense	$	1	$	2
Share of unconsolidated joint ventures' derivative instruments	291		(2,606		)	Equity in net income from unconsolidated joint ventures	41		1,281		Equity in net income from unconsolidated joint ventures	—		5
	$	2,052	$	(2,766	)		$	1,867	$	1,601		$	1	$	7

The following table presents the effect of our derivative financial instruments and our share of our joint ventures' derivative financial instruments that are designated and qualify as hedging instruments on the consolidated statements of income for the nine months ended September 30, 2014 and 2013 (in thousands):



	Amount of Gain or (Loss) Recognized in Other Comprehensive Loss (Effective Portion)					Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)				Location of Gain Recognized in Income on Derivative	Amount of Gain Recognized into Income (Ineffective Portion)
	Nine Months Ended September 30,						Nine Months Ended September 30,					Nine Months Ended September 30,
Derivative	2014		2013				2014		2013			2014		2013
Interest Rate Swaps/Caps	$	1,245	$	(20	)	Interest expense	$	3,790	$	1,258	Interest expense	$	3	$	2
Share of unconsolidated joint ventures' derivative instruments	4,475		5,503			Equity in net income from unconsolidated joint ventures	1,870		3,781		Equity in net income from unconsolidated joint ventures	—		—
	$	5,720	$	5,483			$	5,660	$	5,039		$	3	$	2

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41678-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum lease payments under capital leases and non cancellable operating leases

The following is a schedule of future minimum lease payments under capital lease and noncancellable operating leases with initial terms in excess of one year as of September 30, 2014 (in thousands):



	Capital lease			Non-cancellable operating leases
Remaining 2014	$	36		$	8,147
2015	145			30,491
2016	170			30,612
2017	291			30,845
2018	291			30,845
Thereafter	56,884			751,559
Total minimum lease payments	57,817			$	882,499
Less amount representing interest	(37,089		)
Capitalized lease obligations	$	20,728

Segment Information (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Schedule of selected results of operations and selected asset information



	Real Estate Segment			Debt and Preferred Equity Segment		Total Company
Total revenues
Three months ended:
September 30, 2014	$	346,305		$	43,969	$	390,274
September 30, 2013	294,334			44,448		338,782
Nine months ended:
September 30, 2014	$	995,584		$	137,767	$	1,133,351
September 30, 2013	876,727			143,887		1,020,614
Income (loss) from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate
Three months ended:
September 30, 2014	$	(10,542	)	$	38,098	$	27,556
September 30, 2013	(11,391		)	35,859		24,468
Nine months ended:
September 30, 2014	$	13,148		$	117,673	$	130,821
September 30, 2013	(38,836		)	117,248		78,412
Total assets
As of:
September 30, 2014	$	15,789,046		$	1,448,063	$	17,237,109
December 31, 2013	13,641,727			1,317,274		14,959,001

Schedule of reconciliation of income from continuing operations to net income attributable to SL Green common stockholders

The table below reconciles income from continuing operations to net income for the three and nine months ended September 30, 2014 and 2013 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014		2013
Income from continuing operations before purchase price fair value adjustment and equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	$	27,556		$	24,468		$	130,821	$	78,412
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	16,496			(354		)	122,580		(3,937		)
Purchase price fair value adjustment	(4,000		)	—			67,446		(2,305		)
Income from continuing operations	40,052			24,114			320,847		72,170
Net income from discontinued operations	4,035			7,435			15,449		19,851
Gain on sale of discontinued operations	29,507			13,787			144,242		14,900
Net income	$	73,594		$	45,336		$	480,538	$	106,921

Organization and Basis of Presentation (Details) - SL Green Operating Partnership	1 Months Ended
	Jun. 30, 1997	Sep. 30, 2014	Dec. 31, 2013
Organization
Percentage of ownership in SL Green Management LLC owned by operating partnership (percent)	100.00%
Noncontrolling interest in the operating partnership (as a percent)		3.75%	2.96%
Primary Beneficiary
Organization
Economic interest in variable interest entity (as a percent)	95.00%

Organization and Basis of Presentation (Details 2)
$ in Thousands

9 Months Ended

Sep. 30, 2014

USD ($)

ft²

building

Dec. 31, 2013

USD ($)

Real estate properties

Number of properties | building

Square Feet (sqft)

33,892,903

Weighted Average Occupancy (percent)

^[1]

87.00%

Debt and preferred equity investments | $

$ 1,432,951

$ 1,304,839

Number of shares to be received on redemption of one unit of limited partnership interests (shares) | shares

Commercial Property

Real estate properties

Number of properties | building

Square Feet (sqft)

33,090,705

Weighted Average Occupancy (percent)

^[1]

86.80%

Residential

Real estate properties

Number of properties | building

Square Feet (sqft)

802,198

Weighted Average Occupancy (percent)

^[1]

93.20%

Managed office properties

Real estate properties

Square Feet (sqft)

336,200

Consolidated properties

Real estate properties

Number of properties | building

Square Feet (sqft)

27,239,970

Consolidated properties | Commercial Property

Real estate properties

Number of properties | building

Square Feet (sqft)

26,437,772

Consolidated properties | Residential

Real estate properties

Number of properties | building

Square Feet (sqft)

802,198

Unconsolidated properties

Real estate properties

Number of properties | building

Square Feet (sqft)

6,652,933

Unconsolidated properties | Commercial Property

Real estate properties

Number of properties | building

Square Feet (sqft)

6,652,933

Unconsolidated properties | Residential

Real estate properties

Number of properties | building

Square Feet (sqft)

Manhattan

Real estate properties

Number of properties | building

Square Feet (sqft)

27,300,564

Weighted Average Occupancy (percent)

^[1]

88.20%

Manhattan | Office

Real estate properties

Number of properties | building

Square Feet (sqft)

21,905,160

Weighted Average Occupancy (percent)

^[1]

95.40%

Manhattan | Retail

Real estate properties

Number of properties | building

Square Feet (sqft)

677,830

Weighted Average Occupancy (percent)

^[1]

90.30%

Manhattan | Development

Real estate properties

Number of properties | building

Square Feet (sqft)

3,579,644

Weighted Average Occupancy (percent)

^[1]

39.70%

Manhattan | Fee Interest

Real estate properties

Number of properties | building

Square Feet (sqft)

1,137,930

Weighted Average Occupancy (percent)

^[1]

100.00%

Manhattan | Residential

Real estate properties

Number of properties | building

Square Feet (sqft)

735,587

Weighted Average Occupancy (percent)

^[1]

94.10%

Manhattan | Consolidated properties

Real estate properties

Number of properties | building

Square Feet (sqft)

21,935,372

Manhattan | Consolidated properties | Office

Real estate properties

Number of properties | building

Square Feet (sqft)

18,429,045

Manhattan | Consolidated properties | Retail

Real estate properties

Number of properties | building

^[2]

Square Feet (sqft)

394,535

Manhattan | Consolidated properties | Development

Real estate properties

Number of properties | building

^[3]

Square Feet (sqft)

1,973,862

Manhattan | Consolidated properties | Fee Interest

Real estate properties

Number of properties | building

^[3]

Square Feet (sqft)

1,137,930

Manhattan | Consolidated properties | Residential

Real estate properties

Number of properties | building

^[2]

Square Feet (sqft)

735,587

Manhattan | Consolidated properties | Dual Property Type, Residential Portion

Real estate properties

Square Feet (sqft)

222,855

Manhattan | Consolidated properties | Dual Property Type, Retail Portion

Real estate properties

Square Feet (sqft)

270,132

Manhattan | Unconsolidated properties

Real estate properties

Number of properties | building

Square Feet (sqft)

5,365,192

Manhattan | Unconsolidated properties | Office

Real estate properties

Number of properties | building

Square Feet (sqft)

3,476,115

Manhattan | Unconsolidated properties | Retail

Real estate properties

Number of properties | building

Square Feet (sqft)

283,295

Manhattan | Unconsolidated properties | Development

Real estate properties

Number of properties | building

Square Feet (sqft)

1,605,782

Manhattan | Unconsolidated properties | Fee Interest

Real estate properties

Number of properties | building

Square Feet (sqft)

Manhattan | Unconsolidated properties | Residential

Real estate properties

Number of properties | building

Square Feet (sqft)

Suburban

Real estate properties

Number of properties | building

Square Feet (sqft)

5,790,141

Weighted Average Occupancy (percent)

^[1]

80.70%

Suburban | Office

Real estate properties

Number of properties | building

Square Feet (sqft)

5,587,500

Weighted Average Occupancy (percent)

^[1]

81.30%

Suburban | Retail

Real estate properties

Number of properties | building

Square Feet (sqft)

52,000

Weighted Average Occupancy (percent)

^[1]

100.00%

Suburban | Development

Real estate properties

Number of properties | building

Square Feet (sqft)

150,641

Weighted Average Occupancy (percent)

^[1]

50.50%

Suburban | Residential

Real estate properties

Number of properties | building

Square Feet (sqft)

66,611

Weighted Average Occupancy (percent)

^[1]

79.20%

Suburban | Consolidated properties

Real estate properties

Number of properties | building

Square Feet (sqft)

4,502,400

Suburban | Consolidated properties | Office

Real estate properties

Number of properties | building

Square Feet (sqft)

4,365,400

Suburban | Consolidated properties | Retail

Real estate properties

Number of properties | building

Square Feet (sqft)

52,000

Suburban | Consolidated properties | Development

Real estate properties

Number of properties | building

Square Feet (sqft)

85,000

Suburban | Consolidated properties | Residential

Real estate properties

Number of properties | building

Square Feet (sqft)

66,611

Suburban | Unconsolidated properties

Real estate properties

Number of properties | building

Square Feet (sqft)

1,287,741

Suburban | Unconsolidated properties | Office

Real estate properties

Number of properties | building

Square Feet (sqft)

1,222,100

Suburban | Unconsolidated properties | Retail

Real estate properties

Number of properties | building

Square Feet (sqft)

Suburban | Unconsolidated properties | Development

Real estate properties

Number of properties | building

Square Feet (sqft)

65,641

Suburban | Unconsolidated properties | Residential

Real estate properties

Number of properties | building

Square Feet (sqft)

[1]	The weighted average occupancy for commercial properties represents the total occupied square feet divided by total available rentable square feet. The weighted average occupancy for residential properties represents the total occupied units divided by total available units.
[2]	As of September 30, 2014, we owned a building that was comprised of 270,132 square feet of retail space and 222,855 square feet of residential space. For the purpose of this report, we have included the building as part of retail properties and have shown the square footage under its respective classifications.
[3]	Includes two properties, which are held for sale as of September 30, 2014.

Significant Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Principles of Consolidation
Commercial real estate properties	$ 12,119,615	$ 10,687,540
Mortgages and other loans payable	5,890,782	4,860,578
Commercial real estate included in assets held for sale	753,457	0
Liabilities related to assets held for sale	461,891	0
Consolidated VIEs
Principles of Consolidation
Commercial real estate properties	196,200	605,900
Mortgages and other loans payable	106,900	$ 370,900
Commercial property \| Consolidated VIEs
Principles of Consolidation
Commercial real estate included in assets held for sale	425,700
Liabilities related to assets held for sale	$ 256,200

Significant Accounting Policies (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Investment in Commercial Real Estate Properties
Increase (decrease) in rental revenue from amortization of acquired leases	$ 5,700	$ (200)	$ 18,200	$ 12,500
Write off of above market and in-place lease balances		6,800
Increase in rental revenue, disregarding write-offs		6,600
Reduction in interest expense from amortization of above-market rate mortgages	(1,300)	$ (1,200)	(4,100)	$ (3,700)
Identified intangible assets (included in other assets):
Gross amount	674,672		674,672		$ 746,704
Accumulated amortization	(371,452)		(371,452)		(343,339)
Net	303,220		303,220		403,365
Identified intangible liabilities (included in deferred revenue):
Gross amount	655,755		655,755		671,380
Accumulated amortization	(470,235)		(470,235)		(429,138)
Net	$ 185,520		$ 185,520		$ 242,242
Above and below market leases \| Minimum
Investment in Commercial Real Estate Properties
Estimated useful life of other intangible assets			1 year
Above and below market leases \| Maximum
Investment in Commercial Real Estate Properties
Estimated useful life of other intangible assets			14 years
In-place leases \| Minimum
Investment in Commercial Real Estate Properties
Estimated useful life of other intangible assets			1 year
In-place leases \| Maximum
Investment in Commercial Real Estate Properties
Estimated useful life of other intangible assets			14 years
Building \| Minimum
Investment in Commercial Real Estate Properties
Estimated useful life			3 years
Building \| Maximum
Investment in Commercial Real Estate Properties
Estimated useful life			40 years

Significant Accounting Policies (Details 3) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Investment in Marketable Securities
Marketable securities	$ 39,293	$ 32,049
Commercial mortgage-backed securities
Investment in Marketable Securities
Cost basis	32,500	23,000
Rake bonds
Investment in Marketable Securities
Cost basis		3,600
Level 1
Investment in Marketable Securities
Marketable securities	4,315	4,307
Level 2
Investment in Marketable Securities
Marketable securities	34,978	24,419
Level 3
Investment in Marketable Securities
Marketable securities	0	3,323
Fair Value
Investment in Marketable Securities
Marketable securities	$ 39,293	$ 32,049

Significant Accounting Policies (Details 4) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Accounting Policies [Abstract]
Days past due for income recognition on debt and preferred equity investments to be suspended			90 days
Income taxes
Federal, state and local tax provision	$ 1.6	$ 2.1	$ 6.6	$ 6.0

Significant Accounting Policies (Details 5)	9 Months Ended
Significant Accounting Policies (Details 5)	Sep. 30, 2014 investment Tenant
Annualized rent \| Customer concentration
Concentration of Credit Risk
Number of tenants (tenants) \| Tenant	3
Maximum percentage of annualized rent for any one tenant not individually disclosed (percent)	2.00%
Annualized rent \| 1515 Broadway \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	9.70%
Annualized rent \| 388 and 390 Greenwich Street \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	9.40%
Annualized rent \| 1185 Avenue of the Americas \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	7.40%
Annualized rent \| Tenant 1 \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	11.00%
Annualized rent \| Tenant 2 \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	7.30%
Annualized rent \| Tenant 3 \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	5.60%
Revenue earned on debt and preferred equity investments \| Credit concentration
Concentration of Credit Risk
Number of investments (investment) \| investment	1
Minimum revenue on debt and preferred equity investments (percent)	13.20%

Property Acquisitions (Details) $ in Thousands		9 Months Ended
Property Acquisitions (Details) $ in Thousands	May 31, 2014 USD ($)	Sep. 30, 2014 USD ($) ft²	Sep. 30, 2013 USD ($)	Aug. 31, 2014 USD ($)	Jul. 31, 2014 USD ($)	Mar. 31, 2014 USD ($)	Nov. 30, 2013 USD ($)
Business Acquisition [Line Items]
Area of property (sqft) \| ft²		33,892,903
Purchase price fair value adjustment		$ 71,446	$ (2,305)
635 Madison Avenue
Business Acquisition [Line Items]
Payment for property		$ 153,700
752 Madison Avenue
Business Acquisition [Line Items]
Payment for property				$ 282,400
Economic interest				80.00%
719 Seventh Avenue
Business Acquisition [Line Items]
Payment for property					$ 41,100
115 Spring Street
Business Acquisition [Line Items]
Payment for property					$ 53,100
Greenwich Street 388-390
Business Acquisition [Line Items]
Economic interest	49.65%
Notional Value	$ 504,000
Real Estate fair value	$ 1,585,000
Term	4 years
Face amount of loan	$ 1,500,000
Debt refinanced	$ 1,100,000
Interest rate added to base rate (as a percent)	1.75%
Purchase price fair value adjustment	$ 71,400
Mixed-Use Residential and Commercial Property \| 315 West 33rd Street
Business Acquisition [Line Items]
Payment for property							$ 386,800
Land							116,000
Building							$ 270,800
Above-market and in-place leases						$ 33,200
Below market leases						$ 7,800

Property Acquisitions (Details 2) - 388 and 390 Greenwich Street $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014 USD ($) $ / unit $ / shares	Sep. 30, 2013 USD ($) $ / unit $ / shares	Sep. 30, 2014 USD ($) $ / unit $ / shares	Sep. 30, 2013 USD ($) $ / unit $ / shares
Business Acquisition [Line Items]
Actual revenues since acquisition	$ 28,481		$ 43,378
Actual net income since acquisition	9,213		86,057
Pro forma revenues	390,393	$ 366,235	1,175,593	$ 1,102,973
Pro forma income from continuing operations	$ 40,576	$ 27,361	$ 255,713	$ 149,764
Pro forma basic earnings per share \| $ / shares	$ 0.68	$ 0.44	$ 4.02	$ 1.52
Pro forma diluted earnings per share \| $ / shares	$ 0.68	$ 0.44	$ 4.00	$ 1.52
Pro forma basic earnings per unit \| $ / unit	0.68	0.44	4.02	1.52
Pro forma diluted earnings per unit \| $ / unit	0.68	0.44	4.00	1.52

Properties Held for Sale and Dispositions (Details) - USD ($) $ in Thousands	1 Months Ended				3 Months Ended		9 Months Ended
	Sep. 30, 2014	Jul. 31, 2014	Jun. 30, 2014	May 31, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Property Dispositions and Assets Held for Sale
Gain on sale of discontinued operations					$ 29,507	$ 13,787	$ 144,242	$ 14,900
Revenues
Rental revenue, net					9,504	23,606	44,676	73,738
Escalation and reimbursement revenues					(194)	3,748	4,413	11,459
Other income					0	9	21	523
Total revenues					9,310	27,363	49,110	85,720
Operating expenses					773	5,149	7,101	16,624
Real estate taxes					787	4,170	6,618	12,533
Ground rent					0	2,196	3,001	5,778
Interest expense, net of interest income					2,874	4,877	10,983	15,019
Amortization of deferred financing costs					48	210	369	630
Depreciable real estate reserves					0	0	0	2,150
Depreciation and amortization					678	3,311	5,434	13,133
Transaction related costs, net of recoveries					115	15	155	2
Total expenses					5,275	19,928	33,661	65,869
Net income from discontinued operations					$ 4,035	$ 7,435	$ 15,449	$ 19,851
180 Maiden Lane
Property Dispositions and Assets Held for Sale
Agreed sale consideration	$ 470,000
2 Herald Square
Property Dispositions and Assets Held for Sale
Agreed sale consideration			$ 365,000
985-987 Third Avenue
Property Dispositions and Assets Held for Sale
Agreed sale consideration		$ 68,700
Gain on sale of discontinued operations		$ 29,800
673 First Avenue
Property Dispositions and Assets Held for Sale
Agreed sale consideration				$ 145,000
Gain on sale of discontinued operations				$ 117,600

Debt and Preferred Equity Investments (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Mar. 31, 2014

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2012

Debt investment

Increase in debt and preferred equity investments (net of discounts), including investments classified as held-for-sale

$ 476,600

$ 497,400

Decrease in debt and preferred equity investments (net of discounts), including investments classified as held-for-sale

$ 348,500

530,200

Aggregate weighted average current yield (as a percent)

10.72%

Debt and preferred equity investments

$ 1,432,951

$ 1,304,839

Payments to Acquire Investments

421,003

$ 393,429

Loan loss reserve

(1,000)

$ (7,000)

Debt investment

Debt investment

Funding Obligations

55,037

Senior Financing

5,246,578

Debt and preferred equity investments

^[1]

1,077,123

936,475

Loan loss reserve

^[1]

(1,000)

Total, net of reserve

^[1]

1,077,123

935,475

Total fixed rate

Debt investment

Funding Obligations

19,555

Senior Financing

3,517,994

Carrying Value, Net of Discounts

^[1]

547,173

385,604

Total fixed rate | Jr. Mortgage Participation, March 2015

Debt investment

Funding Obligations

Senior Financing

398,500

Carrying Value, Net of Discounts

^[1]

11,913

11,856

Total fixed rate | Jr. Mortgage Participation/Mezzanine Loan, February 2016

Debt investment

Funding Obligations

Senior Financing

205,000

Carrying Value, Net of Discounts

^[1]

70,080

68,319

Total fixed rate | Jr. Mortgage Participation/Mezzanine Loan, May 2016

Debt investment

Funding Obligations

Senior Financing

164,744

Carrying Value, Net of Discounts

^[1]

45,355

44,742

Total fixed rate | Mezzanine Loan, May 2016

Debt investment

Funding Obligations

Senior Financing

177,000

Carrying Value, Net of Discounts

^[1]

14,298

15,012

Total fixed rate | Jr. Mortgage Participation, June 2016

Debt investment

Funding Obligations

Senior Financing

133,000

Carrying Value, Net of Discounts

^[1]

49,000

Total fixed rate | Mezzanine Loan, November 2016

Debt investment

Funding Obligations

Senior Financing

165,000

Carrying Value, Net of Discounts

^[1]

71,592

71,312

Total fixed rate | Jr. Mortgage Participation/Mezzanine Loan, March 2017

Debt investment

Funding Obligations

^[2]

Senior Financing

^[2]

1,109,000

Carrying Value, Net of Discounts

^[1],[2]

97,101

26,884

Total fixed rate | Other, March 2017

Debt investment

Funding Obligations

^[2]

Senior Financing

^[2]

Carrying Value, Net of Discounts

^[1],[2]

65,674

54,099

Total fixed rate | Mezzanine Loan, June 2017

Debt investment

Funding Obligations

^[3]

19,555

Senior Financing

^[3]

521,750

Carrying Value, Net of Discounts

^[1],[3]

21,456

20,954

Loan participation amount included in other assets and other liabilities

41,300

Total fixed rate | Mezzanine Loan, July 2018

Debt investment

Funding Obligations

Senior Financing

539,000

Carrying Value, Net of Discounts

^[1]

50,412

Total fixed rate | Mortgage Loan, February 2019

Debt investment

Funding Obligations

^[4]

Senior Financing

^[4]

Carrying Value, Net of Discounts

^[1],[4]

26,196

Mortgage Loans On Real Estate Commercial And Consumer, Gross

26,400

Mortgage Loans On Real Estate Commercial And Consumer, Discount Amount

200

Total fixed rate | Mortgage Loan, August 2019

Debt investment

Funding Obligations

Senior Financing

Carrying Value, Net of Discounts

^[1]

667

Total fixed rate | Mezzanine Loan, September 2021

Debt investment

Funding Obligations

Senior Financing

15,000

Carrying Value, Net of Discounts

^[1]

3,500

Total fixed rate | Mezzanine Loan, November 2023

Debt investment

Funding Obligations

^[5]

Senior Financing

^[5]

90,000

Carrying Value, Net of Discounts

^[1],[5]

19,929

19,926

Loan participation amount included in other assets and other liabilities

5,000

Total fixed rate | Jr. Mortgage Participation, June 2014

Debt investment

Debt and preferred equity investments

30,000

Payments to Acquire Investments

67,300

Accretion of unaccrued interest

$ 10,100

Face amount of mortgages

66,700

Total fixed rate | Junior Mortgage Participation

Debt investment

Mortgage Loans On Real Estate Commercial And Consumer, Gross

5,700

Mortgage Loans On Real Estate Commercial And Consumer, Discount Amount

5,700

Total floating rate

Debt investment

Funding Obligations

35,482

Senior Financing

1,728,584

Debt and preferred equity investments

^[1]

529,950

550,871

Total floating rate | Mezzanine Loan, November 2016

Debt investment

Funding Obligations

8,448

Senior Financing

172,105

Debt and preferred equity investments

^[1]

28,855

25,725

Total floating rate | Mezzanine Loan April 2015

Debt investment

Funding Obligations

15,309

Senior Financing

50,000

Debt and preferred equity investments

^[1]

29,650

Total floating rate | Mortgage/Mezzanine Loan June 2015

Debt investment

Funding Obligations

Senior Financing

Debt and preferred equity investments

^[1]

109,252

Total floating rate | Mezzanine Loan, September 2015

Debt investment

Funding Obligations

Senior Financing

110,000

Debt and preferred equity investments

^[1]

49,482

49,110

Total floating rate | Mezzanine Loan, December 2015

Debt investment

Funding Obligations

8,262

Senior Financing

110,295

Debt and preferred equity investments

^[1]

41,675

27,662

Total floating rate | Mezzanine Loan, March 2016

Debt investment

Funding Obligations

Senior Financing

775,000

Debt and preferred equity investments

^[1]

73,602

72,823

Total floating rate | Mezzanine Loan, June 2016

Debt investment

Funding Obligations

^[6]

Senior Financing

^[6]

160,000

Debt and preferred equity investments

^[1],[6]

22,561

22,526

Loan participation amount included in other assets and other liabilities

7,400

Total floating rate | Mezzanine Loan, July 2016

Debt investment

Funding Obligations

Senior Financing

115,000

Debt and preferred equity investments

^[1]

24,909

25,590

Total floating rate | Mezzanine Loan, December 2016

Debt investment

Funding Obligations

333

Senior Financing

33,833

Debt and preferred equity investments

^[1]

11,825

11,798

Total floating rate | Mortgage/Mezzanine Loan, July 2017

Debt investment

Funding Obligations

3,130

Senior Financing

109,351

Debt and preferred equity investments

^[1]

38,186

Total floating rate | Mortgage/Mezzanine Loan, July 2017

Debt investment

Funding Obligations

Senior Financing

Debt and preferred equity investments

^[1]

22,786

Total floating rate | Mortgage/Mezzanine Loan, September 2017

Debt investment

Funding Obligations

Senior Financing

Debt and preferred equity investments

^[1]

16,835

Total floating rate | Jr. Mortgage Participation/Mezzanine Loan, July 2018

Debt investment

Funding Obligations

Senior Financing

55,000

Debt and preferred equity investments

^[1]

20,538

20,553

Total floating rate | Mortgage/Mezzanine Loan, February 2019

Debt investment

Funding Obligations

Senior Financing

Debt and preferred equity investments

^[1]

17,996

Total floating rate | Mezzanine Loan, March 2019

Debt investment

Funding Obligations

Senior Financing

38,000

Debt and preferred equity investments

^[1]

21,798

Total floating rate | Mortgage Loan, Repaid May 2014

Debt investment

Funding Obligations

^[7]

Senior Financing

^[7]

Debt and preferred equity investments

^[1],[7]

30,000

Total floating rate | Jr. Mortgage Participation, Repaid July 2014

Debt investment

Funding Obligations

^[8]

Senior Financing

^[8]

Debt and preferred equity investments

^[1],[8]

24,046

Total floating rate | Jr. Mortgage Participation/Mezzanine Loan, Repaid July 2014

Debt investment

Funding Obligations

^[8]

Senior Financing

^[8]

Debt and preferred equity investments

^[1],[8]

131,724

Total floating rate | Mezzanine Loan, Repaid August 2014

Debt investment

Funding Obligations

^[9]

Senior Financing

^[9]

Debt and preferred equity investments

^[1],[9]

59,892

Total floating rate | Jr. Mortgage Participation, Repaid August 2014

Debt investment

Funding Obligations

^[9]

Senior Financing

^[9]

Debt and preferred equity investments

^[1],[9]

10,873

Total floating rate | Mezzanine Loan, Repaid In August 2014

Debt investment

Funding Obligations

^[9]

Senior Financing

^[9]

Debt and preferred equity investments

^[1],[9]

$ 0

$ 38,549

[1]	Carrying value is net of discounts, original issue discounts and deferred origination fees.
[2]	During the three months ended March 31, 2014, we recognized $10.1 million of previously unaccrued interest income as deemed collectible as a result of the subsequent sale of the property, which closed in June 2014. In connection with the sale of the underlying property, our existing $66.7 million mezzanine loan was defeased and is now shown separately, as it is collateralized by defeasance securities. The buyer assumed our $30.0 million participating interest on the mortgage and we acquired a $67.3 million participating interest on the mezzanine loan.
[3]	Carrying value is net of $41.3 million that was participated out, which is included in other assets and other liabilities on the consolidated balance sheets as a result of the transfer not meeting the conditions for sale accounting.
[4]	In September 2014, we acquired a $26.4 million mortgage loan at a $0.2 million discount and a $5.7 million junior mortgage participation at a $5.7 million discount. The junior mortgage participation was a nonperforming loan at acquisition and is currently on a non-accrual status.
[5]	Carrying value is net of $5.0 million that was participated out, which is included in other assets and other liabilities on the consolidated balance sheets as a result of the transfer not meeting the conditions for sale accounting.
[6]	Carrying value is net of $7.4 million that was participated out, which is included in other assets and other liabilities on the consolidated balance sheets as a result of the transfer not meeting the conditions for sale accounting.
[7]	This loan was repaid in May 2014.
[8]	This loan was repaid in July 2014.
[9]	This loan was repaid in August 2014.

Debt and Preferred Equity Investments (Details 2) - USD ($)
$ in Thousands

9 Months Ended

Sep. 30, 2014

Dec. 31, 2013

Preferred equity investment

Aggregate weighted average current yield (as a percent)

10.72%

Debt and preferred equity investments

$ 1,432,951

$ 1,304,839

Preferred equity investments

Preferred equity investment

Aggregate weighted average current yield (as a percent)

9.76%

Senior Financing

$ 1,546,260

Debt and preferred equity investments

^[1]

355,828

369,364

Preferred equity with initial mandatory redemption in July 2015

Preferred equity investment

Senior Financing

^[2]

550,000

Debt and preferred equity investments

^[1],[2]

121,158

115,198

Preferred equity with initial mandatory redemption in July, 2016

Preferred equity investment

Senior Financing

^[2]

926,260

Debt and preferred equity investments

^[1],[2]

224,720

218,330

Preferred equity with initial mandatory redemption in November 2017

Preferred equity investment

Senior Financing

70,000

Debt and preferred equity investments

^[1]

9,950

9,940

Preferred equity redeemed in April 2014

Preferred equity investment

Senior Financing

^[3]

Debt and preferred equity investments

^[1],[3]

$ 0

$ 25,896

[1]	Carrying value is net of discounts and deferred origination fees.
[2]	The difference between the pay and accrual rates is included as an addition to the principal balance outstanding.
[3]	This preferred equity investment was redeemed in April 2014.

Debt and Preferred Equity Investments (Details 3) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Loan loss reserve activity
Balance at beginning of year	$ 1,000	$ 7,000
Expensed	0	0
Recoveries	0	0
Charge-offs and reclassifications	(1,000)	(6,000)
Balance at end of period	$ 0	$ 1,000

Debt and Preferred Equity Investments (Details 4) $ in Millions	9 Months Ended
	Sep. 30, 2014 USD ($) segment	Dec. 31, 2013 USD ($)
Investments, Debt and Equity Securities [Abstract]
Number of portfolio segments of financial receivables (segment) \| segment	1
Additional amount of financing receivables included in other assets	$ 132.6	$ 172.8
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	$ 0.0

Investment in Unconsolidated Joint Ventures (Details)
$ in Thousands

Oct. 31, 2014

USD ($)

Sep. 30, 2014

USD ($)

ft²

floor

unit

Dec. 31, 2013

ft²

General information on each joint venture

Area of property (sqft) | ft²

33,892,903

100 Park Avenue

General information on each joint venture

Ownership Interest (as a percent)

49.90%

Economic Interest (as a percent)

49.90%

Area of property (sqft) | ft²

834,000

Acquisition Price

^[1]

$ 95,800

717 Fifth Avenue

General information on each joint venture

Ownership Interest (as a percent)

10.92%

Economic Interest (as a percent)

10.92%

Area of property (sqft) | ft²

120,000

Acquisition Price

^[1]

$ 251,900

800 Third Avenue

General information on each joint venture

Ownership Interest (as a percent)

42.95%

Economic Interest (as a percent)

42.95%

Area of property (sqft) | ft²

526,000

Acquisition Price

^[1]

$ 285,000

1745 Broadway

General information on each joint venture

Ownership Interest (as a percent)

32.26%

Economic Interest (as a percent)

32.26%

Area of property (sqft) | ft²

674,000

Acquisition Price

^[1]

$ 520,000

1 and 2 Jericho Plaza

General information on each joint venture

Ownership Interest (as a percent)

20.26%

Economic Interest (as a percent)

20.26%

Area of property (sqft) | ft²

640,000

Acquisition Price

^[1]

$ 210,000

The Meadows

General information on each joint venture

Ownership Interest (as a percent)

50.00%

Economic Interest (as a percent)

50.00%

Area of property (sqft) | ft²

582,000

Acquisition Price

^[1]

$ 111,500

600 Lexington Avenue

General information on each joint venture

Ownership Interest (as a percent)

55.00%

Economic Interest (as a percent)

55.00%

Area of property (sqft) | ft²

304,000

Acquisition Price

^[1]

$ 193,000

11 West 34th Street

General information on each joint venture

Ownership Interest (as a percent)

30.00%

Economic Interest (as a percent)

30.00%

Area of property (sqft) | ft²

17,000

Acquisition Price

^[1]

$ 10,800

7 Renaissance

General information on each joint venture

Ownership Interest (as a percent)

50.00%

Economic Interest (as a percent)

50.00%

Area of property (sqft) | ft²

37,000

Acquisition Price

^[1]

$ 4,000

3 Columbus Circle

General information on each joint venture

Ownership Interest (as a percent)

^[2]

48.90%

Economic Interest (as a percent)

^[2]

48.90%

Area of property (sqft) | ft²

^[2]

769,000

Acquisition Price

^[1],[2]

$ 500,000

280 Park Avenue

General information on each joint venture

Ownership Interest (as a percent)

50.00%

Economic Interest (as a percent)

49.50%

Area of property (sqft) | ft²

1,237,000

Acquisition Price

^[1]

$ 400,000

1552-1560 Broadway

General information on each joint venture

Ownership Interest (as a percent)

^[3]

50.00%

Economic Interest (as a percent)

^[3]

50.00%

Area of property (sqft) | ft²

49,000

^[3]

13,045

Acquisition Price

^[1],[3]

$ 136,550

724 Fifth Avenue

General information on each joint venture

Ownership Interest (as a percent)

50.00%

Economic Interest (as a percent)

50.00%

Area of property (sqft) | ft²

65,000

Acquisition Price

^[1]

$ 223,000

10 East 53rd Street

General information on each joint venture

Ownership Interest (as a percent)

55.00%

Economic Interest (as a percent)

55.00%

Area of property (sqft) | ft²

390,000

Acquisition Price

^[1]

$ 252,500

33 Beekman

General information on each joint venture

Ownership Interest (as a percent)

^[4]

45.90%

Economic Interest (as a percent)

^[4]

45.90%

Area of property (sqft) | ft²

^[4]

145,000

Acquisition Price

^[1],[4]

$ 31,000

Number of floors of student housing (floors) | floor

521 Fifth Avenue

General information on each joint venture

Ownership Interest (as a percent)

50.50%

Economic Interest (as a percent)

50.50%

Area of property (sqft) | ft²

460,000

Acquisition Price

^[1]

$ 315,000

21 East 66th Street

General information on each joint venture

Ownership Interest (as a percent)

^[5]

32.28%

Economic Interest (as a percent)

^[5]

32.28%

Area of property (sqft) | ft²

^[5]

17,000

Acquisition Price

^[1],[5]

$ 75,000

21 East 66th Street | Three retail units

General information on each joint venture

Ownership Interest (as a percent)

32.28%

Number of units in property (units) | unit

21 East 66th Street | 2 residential units

General information on each joint venture

Number of units in property (units) | unit

21 East 66th Street | Four residential units

General information on each joint venture

Ownership Interest (as a percent)

16.14%

Number of units in property (units) | unit

315 West 36th Street

General information on each joint venture

Ownership Interest (as a percent)

35.50%

Economic Interest (as a percent)

35.50%

Area of property (sqft) | ft²

148,000

Acquisition Price

^[1]

$ 45,000

650 Fifth Avenue

General information on each joint venture

Ownership Interest (as a percent)

^[6]

50.00%

Economic Interest (as a percent)

^[6]

50.00%

Area of property (sqft) | ft²

^[6]

32,000

Acquisition Price

^[1],[6]

$ 0

650 Fifth Avenue | Joint Venture | Total floating rate | Subsequent event

General information on each joint venture

Face amount of loan

$ 97,000

Initial funding on mortgage loan

$ 65,000

121 Greene Street

General information on each joint venture

Ownership Interest (as a percent)

50.00%

Economic Interest (as a percent)

50.00%

Area of property (sqft) | ft²

7,000

Acquisition Price

$ 28,200

[1]	Acquisition price represents the actual or implied gross purchase price for the joint venture.
[2]	As a result of the sale of a condominium interest in September 2012, Young & Rubicam, Inc., or Y&R, owns a portion of the property, generally floors three through eight referred to as Y&R units. Because the joint venture has an option to repurchase the Y&R units, the gain associated with this sale was deferred.
[3]	The purchase price pertained only to the purchase of the 1552 Broadway interest which comprised 13,045 square feet. The joint venture also owns a long-term leasehold interest in the retail space and certain other spaces at 1560 Broadway, which is adjacent to 1552 Broadway.
[4]	The joint venture owns a fee interest in the property and will develop an approximately 30 story building for student housing. Upon completion of the development, the joint venture will convey a long-term ground lease condominium interest in the building to Pace.
[5]	We hold a 32.28% interest in three retail and two residential units at the property and a 16.14% interest in four residential units at the property.
[6]	The joint venture owns a long-term leasehold interest in the retail space at 650 Fifth Avenue. In connection with the ground lease obligation, SLG provided a performance guaranty and Sutton executed a contribution agreement to reflect its pro rata obligation. In the event the property is converted into a condominium unit and the landlord elects the purchase option, the joint venture shall be obligated to acquire the unit at the then fair value. In October 2014, the joint venture closed on a $97.0 million floating rate leasehold mortgage with an initial funding of $65.0 million.

Investment in Unconsolidated Joint Ventures (Details 2)

1 Months Ended

3 Months Ended

9 Months Ended

Feb. 28, 2014

USD ($)

Sep. 30, 2014

USD ($)

Sep. 30, 2013

USD ($)

Sep. 30, 2014

USD ($)

extension

Sep. 30, 2013

USD ($)

Apr. 30, 2014

USD ($)

Dec. 31, 2013

USD ($)

Mortgages and Other Loans Payable

Total fixed rate debt

$ 4,732,032,000

$ 4,130,629,000

Total floating rate debt

1,606,152,000

729,949,000

Mortgages and other loans payable

^[1]

6,338,184,000

4,860,578,000

Loss on early extinguishment of debt

$ 24,475,000

$ 0

$ 25,500,000

$ 18,523,000

388 and 390 Greenwich Street

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2],[3]

3.80%

Total fixed rate debt

^[3]

$ 504,000,000

Interest rate, floating rate debt (as a percent)

^[2],[3]

1.91%

Total floating rate debt

^[3]

$ 946,000,000

Face amount of loan

1,500,000,000

$ 1,500,000,000

Term of refinanced mortgage

7 years

Joint Venture

Mortgages and Other Loans Payable

Total fixed rate debt

1,894,136,000

$ 1,894,136,000

3,223,895,000

Total floating rate debt

1,604,619,000

1,842,815,000

Mortgages and other loans payable

$ 3,498,755,000

5,066,710,000

Joint Venture | 7 Renaissance

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4]

10.00%

Total fixed rate debt

$ 1,868,000

1,276,000

Joint Venture | 11 West 34th Street

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4]

4.82%

Total fixed rate debt

$ 16,982,000

17,205,000

Joint Venture | 280 Park Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4]

6.57%

Total fixed rate debt

$ 701,928,000

706,886,000

Joint Venture | 1745 Broadway

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4]

5.68%

Total fixed rate debt

$ 340,000,000

340,000,000

Joint Venture | 1 and 2 Jericho Plaza

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4]

5.65%

Total fixed rate debt

$ 163,750,000

163,750,000

Joint Venture | 800 Third Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4]

6.00%

Total fixed rate debt

$ 20,910,000

20,910,000

Joint Venture | 315 West 36th Street

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4]

3.16%

Total fixed rate debt

$ 25,000,000

25,000,000

Joint Venture | 717 Fifth Avenue | Mortgage loan

Mortgages and Other Loans Payable

Committed amount

300,000,000

Joint Venture | 717 Fifth Avenue | Mezzanine loans

Mortgages and Other Loans Payable

Committed amount

$ 290,000,000

Joint Venture | 21 East 66th Street

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4]

3.60%

Total fixed rate debt

$ 12,000,000

12,000,000

Interest rate, floating rate debt (as a percent)

^[4]

2.88%

Total floating rate debt

$ 1,902,000

1,959,000

Joint Venture | 388 and 390 Greenwich Street

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4],[5]

0.00%

Total fixed rate debt

^[5]

$ 0

996,082,000

Interest rate, floating rate debt (as a percent)

^[4],[5]

0.00%

Total floating rate debt

^[5]

$ 0

142,297,000

Loss on early extinguishment of debt

$ 2,400,000

Joint Venture | 100 Park Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[6]

0.00%

Total fixed rate debt

^[6]

$ 0

209,786,000

Interest rate, floating rate debt (as a percent)

^[4],[6]

1.91%

Total floating rate debt

^[6]

$ 360,000,000

Loss on early extinguishment of debt

$ 3,200,000

Face amount of loan

$ 360,000,000

Term of refinanced mortgage

7 years

Joint Venture | 21 West 34th Street

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[7]

0.00%

Total fixed rate debt

^[7]

$ 0

100,000,000

Joint Venture | 1604-1610 Broadway

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4],[8]

0.00%

Total fixed rate debt

^[8]

$ 0

27,000,000

Incentive income

$ 7,700,000

Joint Venture | The Meadows

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4]

7.75%

Total floating rate debt

$ 67,350,000

67,350,000

Joint Venture | 3 Columbus Circle

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4],[9]

2.34%

Total floating rate debt

^[9]

$ 233,058,000

239,233,000

Possible increase in mortgage based on meeting certain performance hurdles

$ 40,000,000.0

Joint Venture | 1552 Broadway

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4],[10]

4.21%

Total floating rate debt

^[10]

$ 180,885,000

158,690,000

Number of extension options (extensions) | extension

Period of extension option for mortgage secured by the portfolio

1 year

Joint Venture | 1552 Broadway | Mortgage loan

Mortgages and Other Loans Payable

Committed amount

150,000,000

$ 150,000,000

Unfunded amount

5,700,000

Joint Venture | 1552 Broadway | Mezzanine loans

Mortgages and Other Loans Payable

Committed amount

41,500,000

Unfunded amount

$ 4,900,000

Joint Venture | Other loan payable

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4]

1.06%

Total floating rate debt

$ 30,000,000

30,000,000

Joint Venture | 10 East 53rd Street

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4]

2.66%

Total floating rate debt

$ 125,000,000

125,000,000

Joint Venture | 724 Fifth Avenue

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4],[11]

2.58%

Total floating rate debt

^[11]

$ 275,000,000

120,000,000

Joint Venture | 724 Fifth Avenue | Mortgage loan

Mortgages and Other Loans Payable

Face amount of loan

$ 235,000,000

Joint Venture | 724 Fifth Avenue | Mezzanine loans

Mortgages and Other Loans Payable

Loss on early extinguishment of debt

$ 1,200,000

Face amount of loan

$ 40,000,000

Joint Venture | 33 Beekman

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4],[12]

2.91%

Total floating rate debt

^[12]

$ 43,707,000

18,362,000

Maximum amount of loan recourse to entity

$ 75,000,000

Joint Venture | 600 Lexington Avenue

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4]

2.24%

Total floating rate debt

$ 117,717,000

120,616,000

Joint Venture | 521 Fifth Avenue

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4]

2.36%

Total floating rate debt

$ 170,000,000

170,000,000

Joint Venture | 747 Madison Avenue

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4]

0.00%

Total floating rate debt

$ 0

33,125,000

Joint Venture | West Coast office portfolio

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4],[13]

0.00%

Total floating rate debt

^[13]

$ 0

526,290,000

Joint Venture | 180/182 Broadway

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[4],[14]

0.00%

Total floating rate debt

^[14]

$ 0

89,893,000

Joint Venture | Initial Maturity July 2022 | 717 Fifth Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4],[15]

4.45%

Total fixed rate debt

^[15]

$ 300,000,000

300,000,000

Joint Venture | Initial Maturity July 2024 | 717 Fifth Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[4],[15]

9.00%

Total fixed rate debt

^[15]

$ 311,698,000

$ 304,000,000

[1]	Includes mortgages related to 2 Herald Square and 180 Maiden, which are currently held for sale.
[2]	Effective weighted average interest rate for the three months ended September 30, 2014, taking into account interest rate hedges in effect during the period.
[3]	Simultaneous with the acquisition of our joint venture partner's interest, we refinanced the $1.1 billion floating rate mortgage with a $1.5 billion seven-year floating rate mortgage, and have consolidated the property.
[4]	Effective weighted average interest rate for the three months ended September 30, 2014, taking into account interest rate hedges in effect during the period.
[5]	In May 2014, we acquired the interest of our joint venture thereby consolidating the entity. Simultaneous with the acquisition, we refinanced the mortgage and incurred a net loss on early extinguishment of debt of $2.4 million.
[6]	In February 2014, the joint venture replaced the previous fixed rate mortgage with a $360.0 million, seven-year floating rate, mortgage and incurred a net loss on early extinguishment of $3.2 million.
[7]	In January 2014, we sold our interest in the joint venture, inclusive of our share of the joint venture debt.
[8]	This loan was in default since November 2009 due to the non-payment of debt service. In January 2014, the joint venture relinquished its ground lease position to the lender. During the nine months ended September 30, 2014, we recognized $7.7 million of incentive income, which is included in other income on the consolidated statements of income.
[9]	The joint venture has the ability to increase the mortgage by $40.0 million based on meeting certain performance hurdles. In connection with this obligation, we executed a master lease agreement and our joint venture partner executed a contribution agreement to reflect its pro rata obligation under the master lease. The lien on the mortgage and the master lease excludes the condominium interest owned by Y&R. See Note 2 of prior table.
[10]	These loans are comprised of a $150.0 million mortgage loan and a $41.5 million mezzanine loan and are subject to two one-year extension options. As of September 30, 2014, $5.7 million of the mortgage loan and $4.9 million of the mezzanine loan remained unfunded.
[11]	In April 2014, the joint venture refinanced the previous mortgage with a $235.0 million mortgage and a $40.0 million mezzanine loan and incurred a net loss on early extinguishment of debt of $1.2 million.
[12]	This loan has a committed amount of $75.0 million, which is recourse to us. Our partner has indemnified us for its pro rata share of the recourse guarantee. A portion of the guarantee terminates upon the joint venture reaching certain milestones. We believe it is unlikely that we will be required to perform under this guarantee.
[13]	In March 2014, we sold our interest in the joint venture, inclusive of our share in the joint venture debt.
[14]	In September 2014, the joint venture sold the property and repaid the debt.
[15]	These loans are comprised of a $300.0 million fixed rate mortgage loan and $290.0 million mezzanine loan. The mezzanine loan is subject to accretion based on the difference between contractual interest rate and contractual pay rate.

Investment in Unconsolidated Joint Ventures (Details 3) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Assets

Commercial real estate property, net

$ 12,119,615

$ 10,687,540

Other assets

729,538

750,123

Liabilities and members' equity

Mortgages and other loans payable

^[1]

6,338,184

4,860,578

Company's investments in unconsolidated joint ventures

996,842

1,113,218

Combined statements of income for the unconsolidated joint ventures

Operating expenses

72,111

$ 72,784

211,118

$ 205,921

Ground rent

8,088

7,930

24,161

23,988

Real estate taxes

55,548

51,529

159,702

149,857

Interest expense, net of interest income

82,376

78,226

236,424

232,862

Amortization of deferred financing costs

6,679

4,121

15,737

12,404

2,383

(2,368)

6,554

717

Depreciation and amortization

94,443

84,162

274,337

238,666

Total expenses

344,277

317,253

997,811

927,865

Company's equity in net income from unconsolidated joint ventures

6,034

2,939

20,781

4,251

Joint Venture

Assets

Commercial real estate property, net

4,850,149

6,846,021

Other assets

746,234

827,282

Total assets

5,596,383

7,673,303

Liabilities and members' equity

Mortgages and other loans payable

3,498,755

5,066,710

Other liabilities

474,427

596,960

Members' equity

1,623,201

2,009,633

Total liabilities and members' equity

5,596,383

7,673,303

Company's investments in unconsolidated joint ventures

996,842

$ 1,113,218

Combined statements of income for the unconsolidated joint ventures

Total revenues

114,831

156,571

406,464

462,776

Operating expenses

18,530

29,211

63,575

86,027

Ground rent

2,638

657

7,295

1,972

Real estate taxes

15,867

19,105

48,209

53,368

Interest expense, net of interest income

40,885

56,169

137,949

169,137

Amortization of deferred financing costs

2,837

2,869

9,496

12,454

501

565

Depreciation and amortization

28,324

49,402

107,786

144,552

Total expenses

109,582

157,413

374,875

467,510

Loss on early extinguishment of debt

(6,743)

Net income (loss) before gain on sale

5,249

(842)

24,846

(4,734)

Company's equity in net income from unconsolidated joint ventures

$ 6,034

$ 2,939

$ 20,781

$ 4,251

[1]	Includes mortgages related to 2 Herald Square and 180 Maiden, which are currently held for sale.

Investment in Unconsolidated Joint Ventures Investment in Unconsolidated Joint Ventures-Additional Information (Details) $ in Thousands		1 Months Ended			3 Months Ended		9 Months Ended
	May 31, 2014 USD ($) unit	Sep. 30, 2014 USD ($) ft²	Mar. 31, 2014 USD ($)	Jan. 31, 2014 USD ($) ft²	Sep. 30, 2014 USD ($) ft²	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($) ft²	Sep. 30, 2013 USD ($)	Dec. 31, 2013 USD ($)
Investment in Unconsolidated Joint Ventures
Net equity investment in VIEs in which the entity is not primary beneficiary		$ 174,400			$ 174,400		$ 174,400		$ 310,700
Total floating rate debt		1,606,152			1,606,152		1,606,152		729,949
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate					16,496	$ (354)	122,580	$ (3,937)
Debt and preferred equity investments		$ 1,432,951			$ 1,432,951		$ 1,432,951		1,304,839
Area of property (sqft) \| ft²		33,892,903			33,892,903		33,892,903
Joint Venture
Investment in Unconsolidated Joint Ventures
Total floating rate debt		$ 1,604,619			$ 1,604,619		$ 1,604,619		$ 1,842,815
Management fees, base revenue					3,800	$ 3,500	15,000	$ 7,500
180 Broadway
Investment in Unconsolidated Joint Ventures
Real Estate fair value		222,500			$ 222,500		$ 222,500
Promote income		3,300
Deferred gain on sale		$ 16,500
747 Madison Avenue
Investment in Unconsolidated Joint Ventures
Real Estate fair value	$ 160,000
Promote income	10,300
Deferred gain on sale	$ 13,100
Joint venture ownership percentage sold (percent)	33.33%
Number of units in property (units) \| unit	5
Preferred equity investment	$ 30,000
747 Madison Avenue \| Joint Venture
Investment in Unconsolidated Joint Ventures
Ownership Interest (as a percent)		100.00%			100.00%		100.00%
Total floating rate debt	$ 33,100
West Coast office portfolio
Investment in Unconsolidated Joint Ventures
Real Estate fair value			$ 756,000
Joint venture ownership percentage sold (percent)			43.74%
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate			$ 85,500
West Coast office portfolio \| Joint Venture
Investment in Unconsolidated Joint Ventures
Total floating rate debt			526,300
21 West 34th Street
Investment in Unconsolidated Joint Ventures
Real Estate fair value				$ 114,900
Joint venture ownership percentage sold (percent)				49.90%
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate				$ 20,900
Area of property (sqft) \| ft²				91,300
21 West 34th Street \| Joint Venture
Investment in Unconsolidated Joint Ventures
Total floating rate debt				$ 100,000
Participating Financing Due March 2016
Investment in Unconsolidated Joint Ventures
Acquisition origination financing			100,000
Loans and leases receivables			60,000
Debt and preferred equity investments			$ 40,000

Deferred Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Deferred Costs [Abstract]
Deferred leasing	$ 353,316	$ 326,379
Deferred financing	199,081	157,088
Deferred costs, gross	552,397	483,467
Less accumulated amortization	(241,537)	(216,409)
Deferred costs, net	$ 310,860	$ 267,058

Mortgages and Other Loans Payable (Details) - USD ($)

1 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2014

Apr. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Mortgages and Other Loans Payable

Total fixed rate debt

$ 4,732,032,000

$ 4,130,629,000

Total floating rate debt

1,606,152,000

729,949,000

Mortgages and other loans payable

^[1]

6,338,184,000

4,860,578,000

Loss on early extinguishment of debt

24,475,000

$ 0

25,500,000

$ 18,523,000

Gross book value of the properties and debt and preferred equity investments collateralizing the mortgages and other loans payable

$ 9,500,000,000

8,000,000,000

Series J Preferred Units

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2],[3]

3.75%

Total fixed rate debt

^[3]

$ 4,000,000

Limited partner interests in Operating Partnership, limited partner common units outstanding (shares)

$ 4,000,000

Dividend rate preferred units (as a percent)

3.75%

Preferred stock, liquidation preference (in dollars per share)

$ 1,000.00

Preferred Units, shares outstanding (shares)

4,000

Master repurchase agreement

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[2],[4]

3.37%

Total floating rate debt

^[4]

$ 100,000,000

91,000,000

125 Park Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2],[5]

5.75%

Total fixed rate debt

^[5]

$ 146,250,000

146,250,000

711 Third Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

4.99%

Total fixed rate debt

$ 120,000,000

120,000,000

625 Madison Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

7.27%

Total fixed rate debt

$ 116,383,000

120,830,000

500 West Putnam Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

5.52%

Total fixed rate debt

$ 23,112,000

23,529,000

Landmark Square

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

4.00%

Total fixed rate debt

$ 81,685,000

82,909,000

485 Lexington Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

5.61%

Total fixed rate debt

$ 450,000,000

450,000,000

120 West 45th Street

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

6.12%

Total fixed rate debt

$ 170,000,000

170,000,000

762 Madison Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

3.75%

Total fixed rate debt

$ 8,087,000

8,211,000

2 Herald Square

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2],[6]

5.36%

Total fixed rate debt

^[6]

$ 191,250,000

191,250,000

885 Third Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

6.26%

Total fixed rate debt

$ 267,650,000

267,650,000

388 and 390 Greenwich Street

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2],[7]

3.80%

Total fixed rate debt

^[7]

$ 504,000,000

Interest rate, floating rate debt (as a percent)

^[2],[7]

1.91%

Total floating rate debt

^[7]

$ 946,000,000

1,100,000,000

$ 1,500,000,000

7 years

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2],[8]

8.00%

Total fixed rate debt

^[8]

$ 50,000,000

50,000,000

One Madison Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

5.91%

Total fixed rate debt

$ 571,284,000

587,336,000

100 Church

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

4.68%

Total fixed rate debt

$ 229,472,000

230,000,000

919 Third Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2],[9]

5.12%

Total fixed rate debt

^[9]

$ 500,000,000

500,000,000

Interest in property (as a percent)

51.00%

400 East 57th Street

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

4.13%

Total fixed rate debt

$ 69,201,000

70,000,000

400 East 58th Street

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

4.13%

Total fixed rate debt

$ 29,658,000

30,000,000

420 Lexington Avenue

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2],[10]

6.77%

Total fixed rate debt

^[10]

$ 300,000,000

182,641,000

Debt refinanced

181,000,000

Face amount of loan

$ 300,000,000.0

Term

10 years

Loss on early extinguishment of debt

$ 24,500,000

1515 Broadway

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2]

3.93%

Total fixed rate debt

$ 900,000,000

900,000,000

609 Partners, LLC

Mortgages and Other Loans Payable

Interest rate, fixed rate debt (as a percent)

^[2],[11]

0.00%

Total fixed rate debt

^[11]

$ 0

23,000

609 Partners, LLC | Series E preferred units

Mortgages and Other Loans Payable

Preferred Units, shares outstanding (shares)

22,658

Master repurchase agreement

Mortgages and Other Loans Payable

Maximum borrowing capacity

$ 300,000,000.0

180 Maiden Lane

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[2],[12]

2.34%

Total floating rate debt

^[12]

$ 256,152,000

262,706,000

248-252 Bedford Avenue

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[2],[13]

1.66%

Total floating rate debt

^[13]

$ 29,000,000

22,000,000

Face amount of loan

$ 29,000,000

Term

5 years

Loss on early extinguishment of debt

$ 500,000

220 East 42nd Street

Mortgages and Other Loans Payable

Interest rate, floating rate debt (as a percent)

^[2]

1.76%

Total floating rate debt

$ 275,000,000

275,000,000

16 Court Street

Mortgages and Other Loans Payable

Total floating rate debt

^[14]

$ 0

$ 79,243,000

Loss on early extinguishment of debt

$ 500,000

[1]	Includes mortgages related to 2 Herald Square and 180 Maiden, which are currently held for sale.
[2]	Effective weighted average interest rate for the three months ended September 30, 2014, taking into account interest rate hedges in effect during the period.
[3]	In connection with the acquisition of a commercial real estate property, the Operating Partnership issued $4.0 million or 4,000 3.75% Series J Preferred Units of limited partnership interest, of the Series J Preferred Units, with a mandatory liquidation preference of $1,000.00 per unit. The Series J Preferred Units can be redeemed in cash by the Operating Partnership on the earlier of (i) the date of the sale of the property or (ii) April 30, 2051 or at the option of the unitholders as further prescribed in the related agreement.
[4]	The Master Repurchase Agreement, or MRA, has a maximum facility capacity of $300.0 million.
[5]	This loan was repaid at maturity.
[6]	This property is held for sale at September 30, 2014 and the related mortgage is included in liabilities related to assets held for sale.
[7]	Simultaneous with the acquisition of our joint venture partner's interest, we refinanced the $1.1 billion floating rate mortgage with a $1.5 billion seven-year floating rate mortgage, and have consolidated the property.
[8]	This loan is secured by a portion of a preferred equity investment.
[9]	We own a 51.0% controlling interest in the joint venture that is the borrower on this loan.
[10]	In September 2014, we refinanced the $181.0 million fixed rate mortgage with a $300.0 million 10-year fixed rate mortgage and incurred a loss on early extinguishment of debt of $24.5 million, which consisted mainly of a prepayment penalty fee.
[11]	In April 2014, the remaining 22,658 Series E Preferred Units of the Operating Partnership were canceled.
[12]	In connection with this consolidated joint venture obligation, we executed a master lease agreement. Our partner has executed a contribution agreement to reflect its pro rata share of the obligation under the master lease. This property is held for sale at September 30, 2014 and the related mortgage is included in liabilities related to assets held for sale.
[13]	In June 2014, we replaced the previous floating rate mortgage with a $29.0 million, five-year floating rate mortgage and incurred a net loss on early extinguishment of debt of $0.5 million.
[14]	In April 2014, we repaid the loan and incurred a loss on early extinguishment of debt of $0.5 million.

Corporate Indebtedness (Details)	1 Months Ended		9 Months Ended
Corporate Indebtedness (Details)	Mar. 31, 2014 USD ($) extension	Jun. 30, 2005 USD ($)	Sep. 30, 2014 USD ($)	Dec. 31, 2013 USD ($)	Nov. 30, 2012 USD ($)
Mortgages and Other Loans Payable
Outstanding under line of credit facility			$ 244,000,000	$ 220,000,000
2012 Credit Facility
Mortgages and Other Loans Payable
Face amount of loan					$ 1,600,000,000.0
Letters of credit			113,300,000
Ability to borrow under line of credit facility			$ 800,000,000
Debt origination and legal costs	$ 2,800,000
Revolving credit facility
Mortgages and Other Loans Payable
Maximum borrowing capacity	$ 1,200,000,000.0
Decrease in basis spread on variable rate (percent)	0.25%
Number of extension options (extensions) \| extension	2
Extension option available	6 months
Extension fee (percent)	0.10%
Maximum borrowing capacity, optional expansion	$ 1,500,000,000.0
Effective Rate (as a percent)			1.61%
Outstanding under line of credit facility			$ 244,000,000
Revolving credit facility \| Maximum
Mortgages and Other Loans Payable
Fee on the unused balance, payable quarterly in arrears (as a percent)			0.35%
Revolving credit facility \| Minimum
Mortgages and Other Loans Payable
Fee on the unused balance, payable quarterly in arrears (as a percent)			0.15%
Facility fee on total commitments, payable quarterly in arrears (as a percent)			0.30%
Term loan
Mortgages and Other Loans Payable
Increase in maximum borrowing capacity	383,000,000
Maximum borrowing capacity	$ 783,000,000
Effective Rate (as a percent)			1.64%
Outstanding under line of credit facility			$ 783,000,000
Trust Preferred Securities
Mortgages and Other Loans Payable
Debt instrument issued, value		$ 100,000,000.0
Coupon Rate (as a percent)			5.61%
Number of years for which securities will bear fixed rate of interest		10 years
LIBOR \| Revolving credit facility
Mortgages and Other Loans Payable
Interest rate added to base rate (as a percent)			1.45%
LIBOR \| Revolving credit facility \| Maximum
Mortgages and Other Loans Payable
Interest rate added to base rate (as a percent)			1.75%
LIBOR \| Revolving credit facility \| Minimum
Mortgages and Other Loans Payable
Interest rate added to base rate (as a percent)			1.00%
LIBOR \| Term loan
Mortgages and Other Loans Payable
Interest rate added to base rate (as a percent)			1.40%
LIBOR \| Term loan \| Maximum
Mortgages and Other Loans Payable
Interest rate added to base rate (as a percent)			1.90%
LIBOR \| Term loan \| Minimum
Mortgages and Other Loans Payable
Interest rate added to base rate (as a percent)			0.95%
LIBOR \| Trust Preferred Securities
Mortgages and Other Loans Payable
Interest rate added to base rate (as a percent)			1.25%

Corporate Indebtedness (Details 2)
$ / shares in Units, $ in Thousands

9 Months Ended

Sep. 30, 2014

USD ($)

$ / shares

Sep. 30, 2013

Dec. 31, 2013

USD ($)

Oct. 31, 2010

USD ($)

$ / shares

Mar. 31, 2007

$ / shares

Mortgages and Other Loans Payable

Accreted Balance

$ 2,054,168

$ 1,739,330

3.00% Senior unsecured notes maturing on October 15, 2017

Mortgages and Other Loans Payable

Premium on sale price to calculate exchange price of notes (as a percent)

30.00%

Exchange price (in dollars per share) | $ / shares

$ 85.81

Adjusted exchange rate for the debentures (in shares)

12.0660

Amount of convertible debt recorded in equity

$ 78,300

Debt Instrument, Unamortized Discount

$ 38,800

4.0% exchangeable senior debentures due 2025

Mortgages and Other Loans Payable

Exchange price (in dollars per share) | $ / shares

$ 1.3491

Adjusted exchange rate for the debentures (in shares)

7.7461

3.0% exchangeable senior debentures due 2027

Mortgages and Other Loans Payable

Premium on sale price to calculate exchange price of notes (as a percent)

25.00%

Exchange price (in dollars per share) | $ / shares

$ 173.30

Senior Unsecured Notes

Mortgages and Other Loans Payable

Unpaid Principal Balance

$ 1,310,323

Accreted Balance

1,271,168

1,339,330

Senior Unsecured Notes | 6.00% Senior unsecured notes maturing on March 31, 2016

Mortgages and Other Loans Payable

Unpaid Principal Balance

^[1]

255,308

Accreted Balance

^[1]

$ 255,238

255,206

Interest rate (as a percent)

^[1],[2]

6.00%

Effective Rate (as a percent)

^[1]

6.00%

Term

^[1]

10 years

Senior Unsecured Notes | 3.00% Senior unsecured notes maturing on October 15, 2017

Mortgages and Other Loans Payable

Unpaid Principal Balance

^[3]

$ 345,000

Accreted Balance

^[3]

$ 306,187

297,837

Interest rate (as a percent)

^[2],[3]

3.00%

Effective Rate (as a percent)

^[3]

3.00%

Term

^[3]

7 years

Senior Unsecured Notes | 5.00% senior unsecured notes maturing on August 15, 2018

Mortgages and Other Loans Payable

Unpaid Principal Balance

^[4]

$ 250,000

Accreted Balance

^[4]

$ 249,728

249,681

Interest rate (as a percent)

^[2],[4]

5.00%

Effective Rate (as a percent)

^[4]

5.00%

Term

^[4]

7 years

Senior Unsecured Notes | 7.75% Senior unsecured notes maturing on March 15, 2020

Mortgages and Other Loans Payable

Unpaid Principal Balance

^[4]

$ 250,000

Accreted Balance

^[4]

$ 250,000

250,000

Interest rate (as a percent)

^[2],[4]

7.75%

Effective Rate (as a percent)

^[4]

7.75%

Term

^[4]

10 years

Senior Unsecured Notes | 4.50% senior unsecured notes maturing on December 1, 2022

Mortgages and Other Loans Payable

Unpaid Principal Balance

^[4]

$ 200,000

Accreted Balance

^[4]

$ 200,000

200,000

Interest rate (as a percent)

^[2],[4]

4.50%

Effective Rate (as a percent)

^[4]

4.50%

Term

^[4]

10 years

Senior Unsecured Notes | 4.0% exchangeable senior debentures due 2025

Mortgages and Other Loans Payable

Unpaid Principal Balance

^[1],[5]

$ 7

Accreted Balance

^[1],[5]

$ 7

Interest rate (as a percent)

^[1],[2],[5]

4.00%

Effective Rate (as a percent)

^[1],[5]

4.00%

Term

^[1],[5]

20 years

Senior Unsecured Notes | 3.0% exchangeable senior debentures due 2027

Mortgages and Other Loans Payable

Unpaid Principal Balance

^[6]

$ 10,008

Accreted Balance

^[6]

$ 10,008

10,701

Interest rate (as a percent)

^[2],[6]

3.00%

Effective Rate (as a percent)

^[6]

3.00%

Term

^[6]

20 years

Senior Unsecured Notes | 5.88% Senior unsecured notes maturing on August 15, 2014

Mortgages and Other Loans Payable

Unpaid Principal Balance

^[1],[7]

$ 0

Accreted Balance

^[1],[7]

$ 0

$ 75,898

Interest rate (as a percent)

^[1],[2],[7]

Effective Rate (as a percent)

^[1],[7]

Term

^[1],[7]

[1]	Issued by ROP.
[2]	Interest on the senior unsecured notes is payable semi-annually with principal and unpaid interest due on the scheduled maturity dates.
[3]	Issued by the Operating Partnership. Interest on these exchangeable notes is payable semi-annually on April 15 and October 15. The notes had an initial exchange rate representing an exchange price that was set at a 30.0% premium to the last reported sale price of SL Green's common stock on October 6, 2010, or $85.81. The initial exchange rate is subject to adjustment under certain circumstances. The current exchange rate is 12.0660 shares of SL Green's common stock per $1,000 principal amount of these notes. The notes are senior unsecured obligations of the Operating Partnership and are exchangeable upon the occurrence of specified events and during the period beginning on the twenty-second scheduled trading day prior to the maturity date and ending on the second business day prior to the maturity date, into cash or a combination of cash and shares of SL Green's common stock, if any, at our option. The notes are guaranteed by ROP. On the issuance date, $78.3 million of the debt balance was recorded in equity. As of September 30, 2014, $38.8 million remained to be amortized into the debt balance.
[4]	Issued by the Company, the Operating Partnership and ROP, as co-obligors.
[5]	Exchangeable senior debentures which are currently callable at par. In addition, the debentures can be put to ROP, at the option of the holder at par plus accrued and unpaid interest, on June 15, 2015 and 2020 and upon the occurrence of certain change of control transactions. As a result of the acquisition of all outstanding shares of common stock of Reckson, or the Reckson Merger, the adjusted exchange rate for the debentures is 7.7461 shares of SL Green's common stock per $1,000 of principal amount of debentures and the adjusted reference dividend for the debentures is $1.3491.
[6]	Issued by the Operating Partnership. Interest on these remaining exchangeable notes is payable semi-annually on March 30 and September 30. The notes have an initial exchange rate representing an exchange price that was set at a 25.0% premium to the last reported sale price of the Company's common stock on March 20, 2007, or $173.30. The initial exchange rate is subject to adjustment under certain circumstances. The notes are senior unsecured obligations of the Operating Partnership and are exchangeable upon the occurrence of specified events and during the period beginning on the twenty-second scheduled trading day prior to the maturity date and ending on the second business day prior to the maturity date, into cash or a combination of cash and shares of SL Green's common stock, if any, at our option. The notes are currently redeemable at the Operating Partnership’s option. The Operating Partnership may be required to repurchase the notes on March 30, 2017 and 2022, and upon the occurrence of certain designated events.
[7]	In August 2014, these notes were repaid at maturity.

Corporate Indebtedness (Details 3)
$ in Thousands

Sep. 30, 2014

USD ($)

Amortization and Maturities of Long-term Debt [Abstract]

$ 157,288

374,245

648,228

1,502,650

558,462

5,534,634

Total amortization of debt and principal repayments

8,775,507

Mortgages and other loans payable

Scheduled Amortization

11,038

44,701

54,158

61,063

64,462

274,230

Total amortization of debt

509,652

Principal Repayments

Remaining 2014

146,250

2015

329,537

2016

338,762

^[1]

2017

1,086,579

^[1]

2018

Thereafter

3,927,404

Total principal repayments

5,828,532

^[1]

Revolving credit facility

Amortization and Maturities of Long-term Debt [Abstract]

244,000

Total amortization of debt and principal repayments

244,000

Trust Preferred Securities

Amortization and Maturities of Long-term Debt [Abstract]

100,000

Total amortization of debt and principal repayments

100,000

Term Loan and Senior Unsecured Notes

Amortization and Maturities of Long-term Debt [Abstract]

255,308

355,008

250,000

1,233,000

Total amortization of debt and principal repayments

2,093,323

Joint Venture

Amortization and Maturities of Long-term Debt [Abstract]

2,454

44,446

564,269

446,950

353,580

Total amortization of debt and principal repayments

$ 1,411,727

[1]	Principal repayments include the mortgages at 180 Maiden Lane and 2 Herald Center, which are included in liabilities related to assets held for sale.

Corporate Indebtedness (Details 4) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Corporate Indebtedness (Details 4) - USD ($) $ in Thousands	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Debt Disclosure [Abstract]
Interest expense	$ 83,158	$ 78,770	$ 238,285	$ 234,303
Interest income	(782)	(544)	(1,861)	(1,441)
Interest expense, net	82,376	78,226	236,424	232,862
Interest capitalized	$ 7,972	$ 3,091	$ 18,689	$ 10,082

Related Party Transactions (Details)	3 Months Ended		9 Months Ended
Related Party Transactions (Details)	Sep. 30, 2014 USD ($) ft²	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($) ft²	Sep. 30, 2013 USD ($)	Dec. 31, 2013 USD ($)
Amounts due from/to related parties
Due from joint ventures	$ 1,260,000		$ 1,260,000		$ 2,376,000
Other	12,002,000		12,002,000		6,154,000
Related party receivables	13,262,000		13,262,000		$ 8,530,000
Alliance Building Services
Related Party Transactions
Profit participation from related party	900,000	$ 800,000	2,800,000	$ 2,700,000
Related party expenses	5,900,000	5,900,000	14,700,000	16,000,000
A-List Marketing, LLC
Related Party Transactions
Related party expenses	$ 26,800	50,700	$ 121,600	158,000
Nancy Peck and Company
Related Party Transactions
Space at 420 Lexington Avenue leased (sqft) \| ft²	1,003		1,003
Lease rent due per year	$ 35,516		$ 35,516
Increased lease rent due per year beginning in year seven	40,000		40,000
Entity with Stephen L Green ownership interest
Related Party Transactions
Property management fees from related party	$ 114,300	$ 105,200	$ 330,700	$ 318,900

Noncontrolling Interests on the Company's Consolidated Financial Statements (Details) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 31, 2014 $ / shares shares	Jan. 31, 2012 $ / shares shares	Nov. 30, 2011 $ / shares shares	Sep. 30, 2014 USD ($) shares	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($) shares	Sep. 30, 2013 USD ($)	Dec. 31, 2013 USD ($) shares
Rollforward analysis of the activity relating to the noncontrolling interests in the operating partnership
Balance at beginning of period						$ 265,476
Distributions						(5,745)
Issuance of common units						28,058
Net income				$ 2,636	$ 1,110	16,010	$ 1,909
Accumulated other comprehensive income allocation				113	$ (25)	347	490
Balance at end of period				$ 381,274		$ 381,274		$ 265,476
SL Green Operating Partnership
Organization
Noncontrolling interest in the operating partnership (as a percent)				3.75%		3.75%		2.96%
Number of units of operating partnership owned by the noncontrolling interest unit holders (shares) \| shares				3,735,478		3,735,478		2,902,317
Shares of common stock reserved for issuance upon redemption of units of limited partnership interest in operating partnership (shares) \| shares				3,735,478		3,735,478
Rollforward analysis of the activity relating to the noncontrolling interests in the operating partnership
Balance at beginning of period						$ 265,476	$ 212,907	$ 212,907
Distributions						(5,482)		(4,146)
Issuance of common units						22,862		24,750
Redemption of common units						(26,392)		(17,287)
Net income						16,010		3,023
Accumulated other comprehensive income allocation						347		611
Fair value adjustment						108,453		45,618
Balance at end of period				$ 381,274		$ 381,274		$ 265,476
SL Green Operating Partnership \| Series G Preferred Units
Organization
Number of preferred units issued (in shares) \| shares		1,902,000
Dividend rate preferred units (as a percent)		4.50%
Liquidation preference of preferred units (in dollars per share) \| $ / shares		$ 25.00
Annual dividends on preferred units (in dollars per share) \| $ / shares		1.125
Operating partnership common stock value use for conversion of preferred units (in dollars per share) \| $ / shares		$ 88.50
Number of company common stock issue on redemption of operation partnership common units		1
SL Green Operating Partnership \| Series H Preferred Units
Organization
Number of preferred units issued (in shares) \| shares			80,000
Dividend rate preferred units (as a percent)			6.00%
Liquidation preference of preferred units (in dollars per share) \| $ / shares			$ 25.00
Annual dividends on preferred units (in dollars per share) \| $ / shares			$ 1.50
SL Green Operating Partnership \| Series F Preferred Units
Organization
Number of preferred units issued (in shares) \| shares			60
Liquidation preference of preferred units (in dollars per share) \| $ / shares			$ 1,000.00
SL Green Operating Partnership \| Series K Preferred Units
Organization
Number of preferred units issued (in shares) \| shares	563,954
Dividend rate preferred units (as a percent)	3.50%
Liquidation preference of preferred units (in dollars per share) \| $ / shares	$ 25.00
Number of preferred units authorized (in shares) \| shares	700,000
Annual dividends on preferred units (in dollars per share) \| $ / shares	$ 0.875
Operating partnership common stock value use for conversion of preferred units (in dollars per share) \| $ / shares	$ 134.67
SL Green Operating Partnership \| Series L Preferred Units
Organization
Number of preferred units issued (in shares) \| shares	378,634
Dividend rate preferred units (as a percent)	4.00%
Liquidation preference of preferred units (in dollars per share) \| $ / shares	$ 25.00
Number of preferred units authorized (in shares) \| shares	500,000
Annual dividends on preferred units (in dollars per share) \| $ / shares	$ 1.0

Stockholders' Equity of the Company (Details) - $ / shares	Sep. 30, 2014	Dec. 31, 2013
Stockholders' Equity Note [Abstract]
Authorized capital stock (in shares)	260,000,000
Authorized shares, par value (in dollars per share)	$ 0.01
Common stock, shares authorized (shares)	160,000,000	160,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Excess stock, shares authorized (shares)	75,000,000
Excess stock, par value (in dollars per share)	$ 0.01
Preferred stock, shares authorized (shares)	25,000,000
Preferred stock, par value (in dollars per share)	$ 0.01
Shares issued (shares)	95,944,861
Excess stock shares issued (shares)	0

Stockholders' Equity of the Company (Details 2) - USD ($)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Mar. 31, 2012	Jul. 31, 2011
Stockholders' Equity
Proceeds from shares sold	$ 42,698,000	$ 41,734,000
Common stock, shares authorized (shares)	160,000,000		160,000,000
DRIP proceeds	$ 40,000
At-The-Market equity offering programs
Stockholders' Equity
Aggregate value of the shares of common stock to be sold					$ 250,000,000.0
Issuance of common stock (shares)	25,659
Proceeds from shares sold	$ 2,800,000
New At-The-Market equity offering program
Stockholders' Equity
Aggregate value of the shares of common stock to be sold	$ 300,000,000.0
Issuance of common stock (shares)	367,781
Proceeds from shares sold	$ 40,300,000
Aggregate value of shares available for issuance	$ 259,200,000
Series I Preferred Stock
Stockholders' Equity
Preferred stock, shares outstanding (shares)	9,200,000		9,200,000
Dividend rate Perpetual Preferred Units (as a percent)	6.50%
Perpetual Preferred stock, liquidation preference (in dollars per share)	$ 25.00		$ 25.00
Perpetual Preferred stock, annual dividends per share (in dollars per share)	$ 1.625
Dividend Reinvestment and Stock Purchase Plan (DRIP)
Stockholders' Equity
Issuance of common stock (shares)	400
Common stock, shares authorized (shares)				3,500,000
DRIP proceeds	$ 40,000

Stockholders' Equity of the Company (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Basic Earnings:
Income attributable to SL Green common stockholders	$ 64,688	$ 37,025	$ 446,319	$ 64,210
Diluted Earnings:
Income attributable to SL Green common stockholders	$ 67,324	$ 38,135	$ 462,329	$ 66,119
Basic Shares:
Basic weighted average common shares outstanding (in shares)	95,734,000	91,988,000	95,437,000	91,684,000
Effect of Dilutive Securities:
Stock-based compensation plans (in shares)	387,000	236,000	462,000	242,000
Diluted weighted average common stock outstanding (shares)	99,706,000	95,016,000	99,322,000	94,631,000
Common stock shares excluded from the diluted shares outstanding	231,970	703,702	769,790	922,239
Common Stock
Effect of Dilutive Securities:
Redemption of units to common shares	$ 2,636	$ 1,110	$ 16,010	$ 1,909
Effect of Dilutive Securities:
Redemption of units to common shares (shares)	3,585,000	2,792,000	3,423,000	2,705,000

Partners' Capital of the Operating Partnership (Details) - shares	Sep. 30, 2014	Dec. 31, 2013
Common Stock
Stockholders' Equity
Shares outstanding (shares)	95,945,000	94,993,000
SL Green Operating Partnership
Stockholders' Equity
Noncontrolling interest in the operating partnership (as a percent)	3.75%	2.96%
Number of units of operating partnership owned by the noncontrolling interest unit holders (shares)	3,735,478	2,902,317
SL Green Operating Partnership \| Common Stock
Stockholders' Equity
Shares outstanding (shares)	95,944,861
Series I Preferred Units \| SL Green Operating Partnership
Stockholders' Equity
Shares outstanding (shares)	9,200,000

Partners' Capital of the Operating Partnership-EPS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Stockholders' Equity
Net income basic	$ 64,688	$ 37,025	$ 446,319	$ 64,210
Net income diluted	$ 67,324	$ 38,135	$ 462,329	$ 66,119
Basic weighted average common shares outstanding (in shares)	95,734,000	91,988,000	95,437,000	91,684,000
Diluted weighted average common units outstanding (shares)	99,706,000	95,016,000	99,322,000	94,631,000
Common stock shares excluded from the diluted shares outstanding	231,970	703,702	769,790	922,239
SL Green Operating Partnership
Stockholders' Equity
Net income basic	$ 67,324	$ 38,135	$ 462,329	$ 66,119
Net income diluted	$ 67,324	$ 38,135	$ 462,329	$ 66,119
Basic weighted average common shares outstanding (in shares)	99,319,000	94,780,000	98,860,000	94,389,000
Stock-based compensation plans (shares)	387,000	236,000	462,000	242,000
Diluted weighted average common units outstanding (shares)	99,706,000	95,016,000	99,322,000	94,631,000
Common stock shares excluded from the diluted shares outstanding	231,970	703,702	769,790	922,239.000

Share-based Compensation (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
Share-based Compensation (Details) - USD ($)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Restricted Stock Awards
Options Outstanding
Weighted average fair value of awards granted during the period			$ 0		$ 17,386,949
Summary of restricted stock
Balance at beginning of year (in shares)			2,994,197	2,804,901	2,804,901
Granted (in shares)			0		192,563
Cancelled (in shares)			(2,434)		(3,267)
Balance at end of period (in shares)	2,991,763		2,991,763		2,994,197
Vested during the period (in shares)			73,168		21,074
Compensation expense recorded			$ 7,267,923		$ 6,713,155
Weighted average fair value of awards granted during the period			$ 0		$ 17,386,949
Stock options
Fair Value Assumptions
Dividend yield (as a percent)			1.60%		1.92%
Expected life of option			3 years 7 months 6 days		4 years 1 month 6 days
Risk-free interest rate (as a percent)			1.11%		0.96%
Expected stock price volatility (as a percent)			33.67%		36.12%
Options Outstanding
Balance at beginning of year (in shares)			1,765,034	1,201,000	1,201,000
Granted (in shares)			9,000		828,100
Exercised (in shares)			(289,793)		(223,531)
Lapsed or cancelled (in shares)			(53,235)		(40,535)
Balance at end of period (in shares)	1,431,006		1,431,006		1,765,034
Options exercisable at end of period (in shares)	439,482		439,482		461,458
Weighted average fair value of awards granted during the period			$ 219,823		$ 18,041,576
Weighted Average Exercise Price
Balance at beginning of year (in dollars per share)			$ 83.24	$ 75.05	$ 75.05
Granted (in dollars per share)			106.03		87.23
Exercised (in dollars per share)			70.77		53.93
Lapsed or cancelled (in dollars per share)			90.20		83.94
Balance at end of period (in dollars per share)	$ 85.65		85.65		83.24
Options exercisable at end of period (in dollars per share)	$ 89.20		$ 89.20		$ 89.38
Summary of restricted stock
Compensation expense recorded	$ 2,000,000	$ 2,200,000	$ 6,000,000	$ 4,800,000
Weighted average fair value of awards granted during the period			$ 219,823		$ 18,041,576

Share-based Compensation-Additional Information (Details)				1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2014	Dec. 11, 2013	Dec. 17, 2012	Sep. 30, 2014 USD ($) fungibleunits shares	Aug. 31, 2011 USD ($) shares	Dec. 31, 2009 USD ($)	Sep. 30, 2014 USD ($) fungibleunits shares	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($) fungibleunits $ / shares shares	Sep. 30, 2013 USD ($)	Dec. 31, 2013 USD ($) shares	Dec. 31, 2010 USD ($) shares	Sep. 01, 2014	Aug. 31, 2014 shares	Dec. 31, 2012 shares	Dec. 31, 2011 shares	Jan. 01, 2008 shares
Stock-based Compensation
Cost of the plan, subject to adjustment for forfeitures							$ 1,700,000	$ 900,000	$ 5,200,000	$ 2,900,000
Stock options
Third Amended and Restated 2005 Stock Option and Incentive Plan
Period of commencement of option vesting, from date of grant									1 year
Exercise price of options granted, low end of the range (in dollars per share) \| $ / shares									$ 20.67
Exercise price of options granted, high end of the range (in dollars per share) \| $ / shares									$ 137.18
Remaining weighted average contractual life of the options outstanding									4 years 2 months 12 days
Remaining weighted average contractual life of the options exercisable									3 years 9 months 4 days
Compensation expense							2,000,000	2,200,000	$ 6,000,000	4,800,000
Total unrecognized compensation cost related to unvested stock awards				$ 13,600,000			13,600,000		$ 13,600,000
Weighted average period for recognition of compensation cost related to unvested stock awards									3 years
Stock-based Compensation
Weighted average fair value of awards granted during the period									$ 219,823		$ 18,041,576
Stock options \| Minimum
Third Amended and Restated 2005 Stock Option and Incentive Plan
Award expiration period									5 years
Options vesting period									1 year
Stock options \| Maximum
Third Amended and Restated 2005 Stock Option and Incentive Plan
Award expiration period									10 years
Options vesting period									5 years
Restricted Stock Awards
Third Amended and Restated 2005 Stock Option and Incentive Plan
Compensation expense									$ 7,267,923		6,713,155
Total unrecognized compensation cost related to unvested stock awards				$ 12,400,000			$ 12,400,000		$ 12,400,000
Weighted average period for recognition of compensation cost related to unvested stock awards									2 years 1 month 6 days
Stock-based Compensation
Annual award vesting rate, low end of range (as a percent)									15.00%
Annual award vesting rate, high end of range (as a percent)									35.00%
Fair value of restricted stock vested during the period									$ 5,400,000		1,600,000
Weighted average fair value of awards granted during the period									$ 0		$ 17,386,949
Deferred Compensation Plan for Directors
Awards granted (in shares) \| shares									0		192,563
Stock units outstanding (in shares) \| shares				2,991,763			2,991,763		2,991,763		2,994,197				2,804,901
LTIP units
Stock-based Compensation
Weighted average fair value of awards granted during the period									$ 23,600,000		$ 27,100,000
Performance Shares
Third Amended and Restated 2005 Stock Option and Incentive Plan
Total unrecognized compensation cost related to unvested stock awards				$ 6,700,000			$ 6,700,000		$ 6,700,000
Weighted average period for recognition of compensation cost related to unvested stock awards									1 year 2 months 12 days
Stock-based Compensation
Share-based compensation							3,400,000	1,900,000	$ 13,700,000	3,500,000
2010 Notional Unit Long-Term Compensation Plan
Third Amended and Restated 2005 Stock Option and Incentive Plan
Compensation expense							$ 400,000	900,000	$ 2,300,000	3,600,000
Stock-based Compensation
Cost of the plan, subject to adjustment for forfeitures												$ 31,700,000
2010 Notional Unit Long-Term Compensation Plan
Stock appreciation period						3 years
Approximate amount of awards that may be earned by recipients after beginning of the second year if maximum performance achieved						$ 25,000,000
Approximate amount of awards that may be earned by recipients after beginning of the third year if maximum performance achieved						$ 25,000,000
Minimum stock price appreciation to earn maximum amount of awards (as a percent)						50.00%
LTIP units earned (in shares) \| shares												366,815			327,416	385,583
Percentage of awards, vested or to be vested		25.00%	50.00%
2010 Notional Unit Long-Term Compensation Plan \| Minimum
2010 Notional Unit Long-Term Compensation Plan
Approximate amount of LTIP units that may be earned by the recipients based on stock price appreciation						$ 15,000,000
2010 Notional Unit Long-Term Compensation Plan \| Maximum
2010 Notional Unit Long-Term Compensation Plan
Approximate amount of LTIP units that may be earned by the recipients based on stock price appreciation						$ 75,000,000
Third Amendment and Restated 2005 Stock Option and Incentive Plan
Third Amended and Restated 2005 Stock Option and Incentive Plan
Maximum fungible units that may be granted (in shares) \| fungibleunits				17,130,000			17,130,000		17,130,000
Fungible units per share (fungible units) \| fungibleunits				2.76			2.76		2.76
Shares that may be issued if equal to fungible units (shares) \| shares				17,130,000			17,130,000		17,130,000
Number of fungible units available for grant \| shares				3,200,000.0			3,200,000.0		3,200,000.0
Stock options, stock appreciation rights and other awards
Third Amended and Restated 2005 Stock Option and Incentive Plan
Fungible units per share (fungible units) \| fungibleunits				0.77			0.77		0.77
Award expiration period									5 years
All other awards
Third Amended and Restated 2005 Stock Option and Incentive Plan
Fungible units per share (fungible units) \| fungibleunits				1.0			1.0		1.0
Award expiration period									10 years
2011 Outperformance Plan
Third Amended and Restated 2005 Stock Option and Incentive Plan
Compensation expense							$ 1,700,000	$ 1,700,000	$ 7,800,000	$ 6,200,000
Stock-based Compensation
Cost of the plan, subject to adjustment for forfeitures					$ 27,000,000
2010 Notional Unit Long-Term Compensation Plan
Approximate amount of LTIP units that may be earned by the recipients based on stock price appreciation					$ 85,000,000
Stock appreciation period					3 years
LTIP units earned (in shares) \| shares					560,908
2011 Outperformance Plan
Value of LTIP Units that could be earned expressed as percentage of outperformance amount in excess of the 25% benchmark (percent)					10.00%
Duration period return to stockholders exceeds 25%					3 years
Cumulative return to stockholders (percent)					25.00%
Maximum LTIP units based on total return to stockholders					$ 85,000,000
Award vesting rights after first and second year					one-third
Remaining percentage of award to be earned based on performance through the end of the performance period					33.33%
Portion of earned LTIP Units vested	66.66%
2011 Outperformance Plan \| Vesting on August 31, 2014
2010 Notional Unit Long-Term Compensation Plan
Percentage of awards, vested or to be vested									50.00%
2011 Outperformance Plan \| Vesting on August 31, 2015
2010 Notional Unit Long-Term Compensation Plan
Percentage of awards, vested or to be vested									50.00%
2014 Outperformance Plan
2010 Notional Unit Long-Term Compensation Plan
Stock appreciation period				3 years
LTIP units earned (in shares) \| shares														610,000
2014 Outperformance Plan
Initial percentage of units to be awarded													0.50
2014 Outperformance Plan \| Vesting on August 31, 2017
2010 Notional Unit Long-Term Compensation Plan
Percentage of awards, vested or to be vested									50.00%
2014 Outperformance Plan \| Vesting on August 31, 2018
2010 Notional Unit Long-Term Compensation Plan
Percentage of awards, vested or to be vested									50.00%
Deferred Stock Compensation Plan for Directors
Deferred Compensation Plan for Directors
Maximum percentage of the annual retainer fee, chairman fees and meeting fees that may be deferred by non-employee directors (percent)				100.00%			100.00%		100.00%
Awards granted (in shares) \| shares									8,626
Stock units outstanding (in shares) \| shares				80,137			80,137		80,137
Employee Stock Purchase Plan
Employee Stock Purchase Plan
Shares of common stock available for issuance (shares) \| shares																	500,000
Duration of each offering period starting the first day of each calendar quarter									3 months
Purchase price as a percentage of market value of the common stock (percent)				85.00%			85.00%		85.00%
Shares of common stock issued (shares) \| shares				78,563			78,563		78,563

Accumulated Other Comprehensive Loss of the Company (Details) - USD ($)
$ in Thousands

9 Months Ended

Sep. 30, 2014

Dec. 31, 2013

Accumulated Other Comprehensive Income (Loss) of the Company [Roll Forward]

December 31, 2013

$ (15,211)

September 30, 2014

(2,896)

Deferred net losses from terminated hedges

12,200

$ 13,800

SL Green Realty Corp

Accumulated Other Comprehensive Income (Loss) of the Company [Roll Forward]

December 31, 2013

(15,211)

Other comprehensive income before reclassifications

6,851

Amounts reclassified from accumulated other comprehensive income

5,464

September 30, 2014

(2,896)

SL Green Realty Corp | Net unrealized loss on derivative instruments

Accumulated Other Comprehensive Income (Loss) of the Company [Roll Forward]

December 31, 2013

^[1]

(15,125)

Other comprehensive income before reclassifications

^[1]

1,293

Amounts reclassified from accumulated other comprehensive income

^[1]

3,658

September 30, 2014

^[1]

(10,174)

SL Green Realty Corp | Unrealized gains and loss on marketable securities

Accumulated Other Comprehensive Income (Loss) of the Company [Roll Forward]

December 31, 2013

4,784

Other comprehensive income before reclassifications

1,209

Amounts reclassified from accumulated other comprehensive income

September 30, 2014

5,993

SL Green Realty Corp | Joint Venture | Net unrealized loss on derivative instruments

Accumulated Other Comprehensive Income (Loss) of the Company [Roll Forward]

December 31, 2013

^[2]

(4,870)

Other comprehensive income before reclassifications

^[2]

4,349

Amounts reclassified from accumulated other comprehensive income

^[2]

1,806

September 30, 2014

^[2]

$ 1,285

[1]

[2]

Amounts reclassified from accumulated other comprehensive income are included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of income.

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Accumulated Other Comprehensive Loss of the Operating Partnership (Details) - USD ($)
$ in Thousands

9 Months Ended

Sep. 30, 2014

Dec. 31, 2013

Accumulated Other Comprehensive Income (Loss) of the Operating Partnership [Roll Forward]

December 31, 2013

$ (15,211)

September 30, 2014

(2,896)

Deferred net losses from terminated hedges

12,200

$ 13,800

SL Green Operating Partnership

Accumulated Other Comprehensive Income (Loss) of the Operating Partnership [Roll Forward]

December 31, 2013

(15,662)

Other comprehensive income before reclassifications

7,002

Amounts reclassified from accumulated other comprehensive income

5,660

September 30, 2014

(3,000)

Deferred net losses from terminated hedges

12,700

$ 14,200

Net unrealized loss on derivative instruments | SL Green Operating Partnership

Accumulated Other Comprehensive Income (Loss) of the Operating Partnership [Roll Forward]

December 31, 2013

^[1]

(15,573)

Other comprehensive income before reclassifications

^[1]

1,245

Amounts reclassified from accumulated other comprehensive income

^[1]

3,790

September 30, 2014

^[1]

(10,538)

Unrealized gains and loss on marketable securities | SL Green Operating Partnership

Accumulated Other Comprehensive Income (Loss) of the Operating Partnership [Roll Forward]

December 31, 2013

4,926

Other comprehensive income before reclassifications

1,282

Amounts reclassified from accumulated other comprehensive income

September 30, 2014

6,208

Joint Venture | Net unrealized loss on derivative instruments | SL Green Operating Partnership

Accumulated Other Comprehensive Income (Loss) of the Operating Partnership [Roll Forward]

December 31, 2013

^[2]

(5,015)

Other comprehensive income before reclassifications

^[2]

4,475

Amounts reclassified from accumulated other comprehensive income

^[2]

1,870

September 30, 2014

^[2]

$ 1,330

[1]

[2]

Amounts reclassified from accumulated other comprehensive income are included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of income.

- Definition

+ References + Details

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Fair Value of Financial Instruments
Marketable securities	$ 39,293	$ 32,049
Interest rate swap agreements (included in accrued interest payable and other liabilities)	14,114	1,329
Debt and preferred equity investments	1,432,951	1,304,839
Carrying Value
Fair Value of Financial Instruments
Fixed rate debt	6,133,200	5,599,960
Variable rate debt	2,603,152	1,319,948
Long term debt	8,736,352	6,919,908
Fair Value
Fair Value of Financial Instruments
Long term debt	9,164,524	7,214,402
Estimated fair value of debt and preferred equity investments, low end of range	1,400,000	1,300,000
Estimated fair value of debt and preferred equity investments, high end of range	1,600,000	1,400,000
Level 1
Fair Value of Financial Instruments
Marketable securities	4,315	4,307
Interest rate swap agreements (included in accrued interest payable and other liabilities)	0	0
Level 2
Fair Value of Financial Instruments
Marketable securities	34,978	24,419
Interest rate swap agreements (included in accrued interest payable and other liabilities)	14,114	1,329
Level 3
Fair Value of Financial Instruments
Marketable securities	0	3,323
Interest rate swap agreements (included in accrued interest payable and other liabilities)	0	0
Level 3 \| Carrying Value
Fair Value of Financial Instruments
Debt and preferred equity investments	1,432,951	1,304,839
Level 3 \| Fair Value
Fair Value of Financial Instruments
Fixed rate debt	6,536,977	5,886,980
Variable rate debt	$ 2,627,547	$ 1,327,422

Financial Instruments: Derivatives and Hedging (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Financial Instruments: Derivatives and Hedging

Derivative, Net Liability Position, Aggregate Fair Value

$ 14,700

Fair Value, liabilities

(14,114)

$ (1,329)

Fair Value, net

(14,035)

Aggregate termination value of derivative

14,700

Estimated current balance held in accumulated other comprehensive loss to be reclassified into earnings within the next 12 months

6,700

Share of joint venture of accumulated other comprehensive loss reclassified into equity in net income from unconsolidated joint ventures within the next 12 months

1,000

Amount of Gain or (Loss) Recognized in Other Comprehensive Loss (Effective Portion)

2,052

$ (2,766)

5,720

$ 5,483

Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)

1,867

1,601

5,660

5,039

Amount of Gain or (Loss) or Recognized into Income (Ineffective Portion)

Interest Rate Cap expiring in May 2016

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

$ 946,000

Strike Rate (as a percent)

4.75%

Fair Value, assets

$ 52

Interest Rate Cap expiring In May 2016

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

$ 504,000

Strike Rate (as a percent)

4.75%

Fair Value, assets

$ 27

Interest Rate Cap- Sold expiring in May 2016

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

$ 504,000

Strike Rate (as a percent)

4.75%

Fair Value, liabilities

$ (27)

Interest Rate Cap expiring in November, 2015

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

$ 263,426

Strike Rate (as a percent)

6.00%

Fair Value, assets

$ 0

Interest Rate Cap expiring in September 2015

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

$ 137,500

Strike Rate (as a percent)

4.00%

Fair Value, assets

$ 0

Interest Rate Swap expiring in December 2017

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

^[1]

$ 144,000

Strike Rate (as a percent)

^[1]

2.236%

Fair Value, liabilities

^[1]

$ (4,603)

Interest Rate Swap expiring in December 2017

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

^[1]

$ 72,000

Strike Rate (as a percent)

^[1]

2.31%

Fair Value, liabilities

^[1]

$ (2,470)

Interest Rate Swap expiring in December 2017

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

^[1]

$ 72,000

Strike Rate (as a percent)

^[1]

2.31%

Fair Value, liabilities

^[1]

$ (2,467)

Interest Rate Swap expiring in December 2017

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

^[1]

$ 57,600

Strike Rate (as a percent)

^[1]

1.99%

Fair Value, liabilities

^[1]

$ (1,392)

Interest Rate Swap expiring in December 2017

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

^[1]

$ 86,400

Strike Rate (as a percent)

^[1]

1.948%

Fair Value, liabilities

^[1]

$ (1,972)

Interest Rate Swap expiring in December 2017

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

^[1]

$ 72,000

Strike Rate (as a percent)

^[1]

1.345%

Fair Value, liabilities

^[1]

$ (273)

Interest Rate Cap expiring in June, 2016

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

$ 30,000

Strike Rate (as a percent)

2.295%

Fair Value, liabilities

$ (893)

Interest Rate Swap expiring in February, 2015

Financial Instruments: Derivatives and Hedging

Notional Value (in thousands)

$ 8,500

Strike Rate (as a percent)

0.74%

Fair Value, liabilities

$ (17)

Interest Rate Swap

Financial Instruments: Derivatives and Hedging

Amount of Gain or (Loss) Recognized in Other Comprehensive Loss (Effective Portion)

1,761

(160)

1,245

(20)

Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)

1,826

320

3,790

1,258

Amount of Gain or (Loss) or Recognized into Income (Ineffective Portion)

Share of unconsolidated joint ventures' derivative instruments

Financial Instruments: Derivatives and Hedging

Amount of Gain or (Loss) Recognized in Other Comprehensive Loss (Effective Portion)

291

(2,606)

4,475

5,503

Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)

1,281

1,870

3,781

Amount of Gain or (Loss) or Recognized into Income (Ineffective Portion)

$ 0

$ 5

$ 0

[1]	As a result of the acquisition and consolidation of 388-390 Greenwich Street, we have assumed these derivative instruments and have designated them as hedges.

Commitments and Contingencies (Details) $ in Thousands	9 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Sep. 30, 2014 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Initial term of non cancellable operating leases, minimum	1 year
Capital lease
Remaining 2014	$ 36
2015	145
2016	170
2017	291
2018	291
Thereafter	56,884
Total minimum lease payments	57,817
Less amount representing interest	(37,089)
Capitalized lease obligations	20,728
Non-cancellable operating leases
Remaining 2014	8,147
2015	30,491
2016	30,612
2017	30,845
2018	30,845
Thereafter	751,559
Total minimum lease payments	$ 882,499

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Details) $ in Thousands	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($) segment	Sep. 30, 2013 USD ($)	Dec. 31, 2013 USD ($)
Segment information
Number of reportable segments (segment) \| segment			2
Total revenues	$ 390,274	$ 338,782	$ 1,133,351	$ 1,020,614
Income (loss) from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate	27,556	24,468	130,821	78,412
Total assets	17,237,109		$ 17,237,109		$ 14,959,001
Leverage rate assumption (as a percent)			100.00%
Marketing, general and administrative	22,649	20,869	$ 69,778	63,450
Real Estate Segment
Segment information
Total revenues	346,305	294,334	995,584	876,727
Income (loss) from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate	(10,542)	(11,391)	13,148	(38,836)
Total assets	15,789,046		15,789,046		13,641,727
Debt and Preferred Equity Segment
Segment information
Total revenues	43,969	44,448	137,767	143,887
Income (loss) from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate	38,098	$ 35,859	117,673	$ 117,248
Total assets	$ 1,448,063		$ 1,448,063		$ 1,317,274

Segment Information (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Details 2) - USD ($) $ in Thousands	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Reconciliation of income from continuing operations to net income attributable to SL Green common stockholders
Income from continuing operations before purchase price fair value adjustment and equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	$ 27,556	$ 24,468	$ 130,821	$ 78,412
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	16,496	(354)	122,580	(3,937)
Purchase price fair value adjustment	(4,000)	0	67,446	(2,305)
Income from continuing operations	40,052	24,114	320,847	72,170
Net income from discontinued operations	4,035	7,435	15,449	19,851
Gain on sale of discontinued operations	29,507	13,787	144,242	14,900
Net income	$ 73,594	$ 45,336	$ 480,538	$ 106,921

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	9 Months Ended
	Oct. 28, 2014	Oct. 31, 2014	Sep. 30, 2014	Sep. 30, 2013	Nov. 03, 2014
Subsequent Event [Line Items]
Proceeds from shares sold			$ 42,698	$ 41,734
New At-The-Market equity offering program
Subsequent Event [Line Items]
Shares sold and settled			367,781
Proceeds from shares sold			$ 40,300
Aggregate value of shares available for issuance			$ 259,200
Subsequent event \| Series H Preferred Units
Subsequent Event [Line Items]
Redeemed units	80,000
Redemption price per unit	$ 25.00
Accumulated and unpaid dividends per unit	$ 0.05833
Subsequent event \| New At-The-Market equity offering program
Subsequent Event [Line Items]
Shares sold and settled		1,019,892
Proceeds from shares sold		$ 116,800
Net proceeds from shares sold		$ 115,400
Aggregate value of shares available for issuance					$ 142,400