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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2014	Feb. 17, 2015	Jun. 30, 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-K
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding (shares)		98,625,888
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 9.8
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-K
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding (shares)		1,005,426
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 0.0

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Commercial real estate properties, at cost:
Land and land interests	$ 3,844,518	$ 3,032,526
Building and improvements	8,778,593	7,884,663
Building leasehold and improvements	1,418,585	1,366,281
Properties under capital lease	27,445	50,310
Total commercial real estate properties, at cost	14,069,141	12,333,780
Less: accumulated depreciation	(1,905,165)	(1,646,240)
Total commercial real estate properties, net	12,163,976	10,687,540
Assets held for sale	462,430	0
Cash and cash equivalents	281,409	206,692
Restricted cash	149,176	142,051
Investment in marketable securities	39,429	32,049
Tenant and other receivables, net of allowance of $18,068 and $17,325 in 2014 and 2013, respectively	57,369	60,393
Related party receivables	11,735	8,530
Deferred rents receivable, net of allowance of $27,411 and $30,333 in 2014 and 2013, respectively	374,944	386,508
Debt and preferred equity investments, net of discounts and deferred origination fees of $19,172 and $18,593 in 2014 and 2013, respectively, and allowance of $1,000 in 2013	1,408,804	1,304,839
Investments in unconsolidated joint ventures	1,172,020	1,113,218
Deferred costs, net	327,962	267,058
Other assets	647,333	750,123
Total assets	17,096,587	14,959,001
Liabilities
Mortgages and other loans payable	5,586,709	4,860,578
Revolving credit facility	385,000	220,000
Term loan and senior unsecured notes	2,107,078	1,739,330
Accrued interest payable and other liabilities	137,634	114,622
Accounts payable and accrued expenses	173,246	145,889
Deferred revenue	187,148	263,261
Capitalized lease obligations	20,822	47,671
Deferred land leases payable	1,215	22,185
Dividend and distributions payable	64,393	52,255
Security deposits	66,614	61,308
Liabilities related to assets held for sale	266,873	0
Junior subordinate deferrable interest debentures held by trusts that issued trust preferred securities	100,000	100,000
Total liabilities	9,096,732	7,627,099
Commitments and contingencies	0	0
Noncontrolling interests in Operating Partnership	469,524	265,476
Preferred Units	71,115	49,550
Equity
Common stock, $0.01 par value, 160,000 shares authorized and 100,928 and 98,563 issued and outstanding at December 31, 2014 and 2013, respectively (including 3,603 and 3,570 shares held in Treasury at December 31, 2014 and 2013, respectively)	1,010	986
Additional paid-in-capital	5,289,479	5,015,904
Treasury stock at cost	(320,471)	(317,356)
Accumulated other comprehensive loss	(6,980)	(15,211)
Retained earnings	1,752,404	1,619,150
Total SL Green stockholders' equity	6,937,374	6,525,405
Noncontrolling interests in other partnerships	521,842	491,471
Total equity	7,459,216	7,016,876
Total liabilities and equity	17,096,587	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 December 31, 2014 and 2013, respectively	221,932	221,932
SL Green Operating Partnership
Commercial real estate properties, at cost:
Land and land interests	3,844,518	3,032,526
Building and improvements	8,778,593	7,884,663
Building leasehold and improvements	1,418,585	1,366,281
Properties under capital lease	27,445	50,310
Total commercial real estate properties, at cost	14,069,141	12,333,780
Less: accumulated depreciation	(1,905,165)	(1,646,240)
Total commercial real estate properties, net	12,163,976	10,687,540
Assets held for sale	462,430	0
Cash and cash equivalents	281,409	206,692
Restricted cash	149,176	142,051
Investment in marketable securities	39,429	32,049
Tenant and other receivables, net of allowance of $18,068 and $17,325 in 2014 and 2013, respectively	57,369	60,393
Related party receivables	11,735	8,530
Deferred rents receivable, net of allowance of $27,411 and $30,333 in 2014 and 2013, respectively	374,944	386,508
Debt and preferred equity investments, net of discounts and deferred origination fees of $19,172 and $18,593 in 2014 and 2013, respectively, and allowance of $1,000 in 2013	1,408,804	1,304,839
Investments in unconsolidated joint ventures	1,172,020	1,113,218
Deferred costs, net	327,962	267,058
Other assets	647,333	750,123
Total assets	17,096,587	14,959,001
Liabilities
Mortgages and other loans payable	5,586,709	4,860,578
Revolving credit facility	385,000	220,000
Term loan and senior unsecured notes	2,107,078	1,739,330
Accrued interest payable and other liabilities	137,634	114,622
Accounts payable and accrued expenses	173,246	145,889
Deferred revenue	187,148	263,261
Capitalized lease obligations	20,822	47,671
Deferred land leases payable	1,215	22,185
Dividend and distributions payable	64,393	52,255
Security deposits	66,614	61,308
Liabilities related to assets held for sale	266,873	0
Junior subordinate deferrable interest debentures held by trusts that issued trust preferred securities	100,000	100,000
Total liabilities	9,096,732	7,627,099
Commitments and contingencies	0	0
Preferred Units	71,115	49,550
Equity
Accumulated other comprehensive loss	(7,256)	(15,662)
Total liabilities and equity	17,096,587	14,959,001
SL Green stockholders equity:
SL Green partners' capital (1,013 and 979 general partner common units and 96,312 and 94,014 limited partner common units outstanding at December 31, 2014 and 2013, respectively)	7,078,924	6,506,747
Limited partner interests in SLGOP (3,973 and 2,902 limited partner common units outstanding at December 31, 2014 and 2013, respectively	113,298	77,864
Total SLGOP partners' capital	7,406,898	6,790,881
Noncontrolling interests in other partnerships	521,842	491,471
Total capital	7,928,740	7,282,352
SL Green Operating Partnership \| Series I Preferred Stock
SL Green stockholders equity:
Series I Preferred Units, $25.00 liquidation preference, 9,200 issued and outstanding at both December 31, 2014 and 2013	221,932	221,932
Total capital	$ 221,932	$ 221,932

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Tenant and other receivables, allowance (in dollars)	$ 18,068	$ 17,325
Deferred rents receivable, allowance (in dollars)	27,411	30,333
Debt and preferred equity investments, discount (in dollars)	19,172	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)	160,000,000	160,000,000
Common stock, shares issued (shares)	100,928,000	98,563,000
Common stock, shares outstanding (shares)	100,928,000	98,563,000
Treasury stock, shares (shares)	3,603,000	3,570,000
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)	9,200,000	9,200,000
Preferred stock, shares outstanding (shares)	9,200,000	9,200,000
SL Green Operating Partnership
Tenant and other receivables, allowance (in dollars)	$ 18,068	$ 17,325
Deferred rents receivable, allowance (in dollars)	27,411	30,333
Debt and preferred equity investments, discount (in dollars)	19,172	18,593
Debt and preferred equity investments, allowance (in dollars)	$ 0	$ 1,000
SL Green partner's capital, general partner common units outstanding (shares)	1,013,000	979,000
SL Green partners' capital, limited partner common units outstanding (shares)	96,312,000	94,014,000
Limited partner interests in Operating Partnership, limited partner common units outstanding (shares)	3,973,000	2,902,000
SL Green Operating Partnership \| Series I Preferred Stock
Preferred Units, shares issued (shares)	9,200,000	9,200,000
Preferred Units, shares outstanding (shares)	9,200,000	9,200,000
Preferred Units, liquidation preference (in dollars per share)	$ 25.00	$ 25.00
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues
Rental revenue, net	$ 1,121,066	$ 996,782	$ 984,079
Escalation and reimbursement	164,376	155,965	151,187
Investment income	178,815	193,843	119,155
Other income	55,721	24,475	35,631
Total revenues	1,519,978	1,371,065	1,290,052
Expenses
Operating expenses, including $19,308 (2014), $19,152 (2013) and $17,645 (2012) of related party expenses	282,283	276,589	275,872
Real estate taxes	217,843	203,076	194,371
Ground rent	32,307	31,951	31,504
Interest expense, net of interest income	317,400	310,894	309,681
Amortization of deferred financing costs	22,377	15,855	18,558
Depreciation and amortization	371,610	324,461	311,860
Loan loss and other investment reserves, net of recoveries	0	0	564
Transaction related costs, net of recoveries	8,707	3,985	5,402
Marketing, general and administrative	92,488	86,192	82,840
Total expenses	1,345,015	1,253,003	1,230,652
Income from continuing operations before equity in net income from unconsolidated joint ventures, equity in net gain on sale of interest in unconsolidated joint venture/real estate, purchase price fair value adjustment, gain (loss) on sale of investment in marketable securities and loss on early extinguishment of debt	174,963	118,062	59,400
Equity in net income from unconsolidated joint ventures	26,537	9,921	76,418
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	123,253	3,601	37,053
Purchase price fair value adjustment	67,446	(2,305)	0
Gain (loss) on sale of investment in marketable securities	3,895	(65)	4,940
Loss on early extinguishment of debt	(32,365)	(18,518)	(6,978)
Income from continuing operations	363,729	110,696	170,833
Net income from discontinued operations	19,075	25,687	32,240
Gain on sale of discontinued operations	163,059	14,900	6,627
Net income	545,863	151,283	209,700
Net income attributable to noncontrolling interests:
Noncontrolling interests in the Operating Partnership	(18,467)	(3,023)	(5,597)
Noncontrolling interests in other partnerships	(6,590)	(10,629)	(5,591)
Preferred units distributions	(2,750)	(2,260)	(2,107)
Net income attributable to SL Green	518,056	135,371	196,405
Preferred stock redemption costs	0	(12,160)	(10,010)
Perpetual preferred stock dividends	(14,952)	(21,881)	(30,411)
Amounts attributable to SL Green common stockholders:
Income from continuing operations before gains on sale and discontinued operations	143,466	60,654	82,696
Purchase price fair value adjustment	65,059	(2,239)	0
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	118,891	3,497	35,769
Net income from discontinued operations	18,400	24,947	31,122
Gain on sale of discontinued operations	157,288	14,471	6,397
Net income attributable to SL Green common stockholders	$ 503,104	$ 101,330	$ 155,984
Basic earnings per share:
Income from continuing operations before discontinued operations (usd per share)	$ 2.18	$ 0.64	$ 0.93
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share)	1.24	0.04	0.40
Net income from discontinued operations (usd per share)	0.19	0.27	0.35
Gain on sale of discontinued operations (usd per share)	1.64	0.15	0.07
Net income attributable to SL Green common stockholders (usd per share)	5.25	1.10	1.75
Diluted earnings per share:
Income from continuing operations before discontinued operations (usd per share)	2.17	0.63	0.92
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share)	1.24	0.04	0.40
Net income from discontinued operations (usd per share)	0.19	0.27	0.35
Gain on sale of discontinued operations (usd per share)	1.63	0.16	0.07
Net income attributable to SL Green common stockholders (usd per share)	$ 5.23	$ 1.10	$ 1.74
Basic weighted average common shares outstanding (in shares)	95,774	92,269	89,319
Diluted weighted average common shares and common share equivalents outstanding (in shares)	99,696	95,266	92,873
SL Green Operating Partnership
Revenues
Rental revenue, net	$ 1,121,066	$ 996,782	$ 984,079
Escalation and reimbursement	164,376	155,965	151,187
Investment income	178,815	193,843	119,155
Other income	55,721	24,475	35,631
Total revenues	1,519,978	1,371,065	1,290,052
Expenses
Operating expenses, including $19,308 (2014), $19,152 (2013) and $17,645 (2012) of related party expenses	282,283	276,589	275,872
Real estate taxes	217,843	203,076	194,371
Ground rent	32,307	31,951	31,504
Interest expense, net of interest income	317,400	310,894	309,681
Amortization of deferred financing costs	22,377	15,855	18,558
Depreciation and amortization	371,610	324,461	311,860
Loan loss and other investment reserves, net of recoveries	0	0	564
Transaction related costs, net of recoveries	8,707	3,985	5,402
Marketing, general and administrative	92,488	86,192	82,840
Total expenses	1,345,015	1,253,003	1,230,652
Income from continuing operations before equity in net income from unconsolidated joint ventures, equity in net gain on sale of interest in unconsolidated joint venture/real estate, purchase price fair value adjustment, gain (loss) on sale of investment in marketable securities and loss on early extinguishment of debt	174,963	118,062	59,400
Equity in net income from unconsolidated joint ventures	26,537	9,921	76,418
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	123,253	3,601	37,053
Purchase price fair value adjustment	67,446	(2,305)	0
Gain (loss) on sale of investment in marketable securities	3,895	(65)	4,940
Loss on early extinguishment of debt	(32,365)	(18,518)	(6,978)
Income from continuing operations	363,729	110,696	170,833
Net income from discontinued operations	19,075	25,687	32,240
Gain on sale of discontinued operations	163,059	14,900	6,627
Net income	545,863	151,283	209,700
Net income attributable to noncontrolling interests:
Noncontrolling interests in other partnerships	(6,590)	(10,629)	(5,591)
Net income attributable to SL Green	536,523	138,394	202,002
Amounts attributable to SL Green common stockholders:
Income from continuing operations before gains on sale and discontinued operations	148,738	62,470	85,661
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	123,253	3,601	37,053
Gain on sale of discontinued operations	$ 163,059	$ 14,900	$ 6,627
Basic earnings per share:
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share)	$ 1.24	$ 0.04	$ 0.40
Gain on sale of discontinued operations (usd per share)	1.64	0.15	0.07
Diluted earnings per share:
Equity in net gain on sale of interest in unconsolidated joint venture/real estate (usd per share)	1.24	0.04	0.40
Gain on sale of discontinued operations (usd per share)	$ 1.63	$ 0.16	$ 0.07
Noncontrolling Interest [Abstract]
Preferred unit distributions	$ (2,750)	$ (2,260)	$ (2,107)
Preferred unit redemption costs	0	(12,160)	(10,010)
Perpetual preferred unit distributions	(14,952)	(21,881)	(30,411)
Net income attributable to SLGOP common unitholders	521,571	104,353	161,581
Purchase price fair value adjustment	67,446	(2,305)	0
Net income from discontinued operations	$ 19,075	$ 25,687	$ 32,240
Net income from continuing operations before gains on sale and discontinued operations (in dollars per share)	$ 2.18	$ 0.64	$ 0.93
Net income from discontinued operations (in dollars per share)	0.19	0.27	0.35
Net income attributable to SL Green common stockholders (in dollars per share)	5.25	1.10	1.75
Net income from continuing operations before gains on sale and discontinued operations (in dollars per share)	2.17	0.63	0.92
Net income from discontinued operations (in dollars per share)	0.19	0.27	0.35
Net income attributable to SL Green common stockholders (in dollars per share)	$ 5.23	$ 1.10	$ 1.74
Basic weighted average common shares outstanding (in shares)	99,288	95,004	92,526
Diluted weighted average common shares and common share equivalents outstanding (in shares)	99,696	95,266	92,873

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating expenses, paid to related parties	$ 19,308	$ 19,152	$ 17,645
SL Green Operating Partnership
Operating expenses, paid to related parties	$ 19,308	$ 19,152	$ 17,645

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net income	$ 545,863	$ 151,283	$ 209,700
Other comprehensive income (loss):
Change in net unrealized gain on derivative instruments, including share of joint venture net unrealized gain on derivative instruments	10,643	13,490	2,127
Change in unrealized (loss) gain on marketable securities	(2,237)	1,497	(3,657)
Other comprehensive income (loss)	8,406	14,987	(1,530)
Comprehensive income	554,269	166,270	208,170
Net income attributable to noncontrolling interests	(27,807)	(15,912)	(13,295)
Other comprehensive (income) loss attributable to noncontrolling interests	(175)	(611)	388
Comprehensive income attributable to SL Green	526,287	149,747	195,263
SL Green Operating Partnership
Net income	545,863	151,283	209,700
Other comprehensive income (loss):
Change in net unrealized gain on derivative instruments, including share of joint venture net unrealized gain on derivative instruments	10,643	13,490	2,127
Change in unrealized (loss) gain on marketable securities	(2,237)	1,497	(3,657)
Other comprehensive income (loss)	8,406	14,987	(1,530)
Comprehensive income	554,269	166,270	208,170
Net income attributable to noncontrolling interests	(6,590)	(10,629)	(5,591)
Comprehensive income attributable to SL Green	$ 547,679	$ 155,641	$ 202,579

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid- In-Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interests	Series C Preferred Stock Preferred Stock	Series D Preferred Stock Preferred Stock	Series I Preferred Stock Preferred Stock	Common Stock	Common Stock Common Stock	Common Stock Additional Paid- In-Capital
Balance at Dec. 31, 2011	$ 6,453,309		$ 892	$ 4,236,959	$ (308,708)	$ (28,445)	$ 1,704,506	$ 477,762	$ 274,022	$ 96,321	$ 0
Balance (in shares) at Dec. 31, 2012			91,250
Increase (Decrease) in Stockholders' Equity
Net income	201,996						196,405	5,591
Other comprehensive income:	(1,142)					(1,142)
Preferred dividends	(30,411)						(30,411)
DRIP proceeds	99,570		$ 13	99,557
DRIP proceeds (in shares)			1,305
Conversion of units of the Operating Partnership to common stock	87,513		$ 11	87,502
Redemption of units of the Operating Partnership to common stock (in shares)			1,096
Redemption of preferred stock	(200,013)						(10,010)		(93,682)	(96,321)
Reallocation of noncontrolling interest in the operating partnership	(61,238)						(61,238)
Deferred compensation plan and stock award, net	(13,428)		$ 3	719	(14,150)
Deferred compensation plan and stock award, net (in shares)			43
Amortization of deferred compensation plan	28,742			28,742
Issuance of stock		$ 221,965									221,965	$ 201,279	$ 27	$ 201,252
Issuance of stock (shares)													2,640
Proceeds from stock options exercised	13,173		$ 4	13,169
Proceeds from stock options exercised (in shares)			383
Contributions to consolidated joint venture interest	25,894							25,894
Cash distributions to noncontrolling interests	(21,946)							(21,946)
Cash distribution declared	(98,160)						(98,160)
Balance at Dec. 31, 2012	6,907,103		$ 950	4,667,900	(322,858)	(29,587)	1,701,092	487,301	180,340	0	221,965
Balance (in shares) at Dec. 31, 2013			94,993
Increase (Decrease) in Stockholders' Equity
Net income	146,000						135,371	10,629
Other comprehensive income:	14,376					14,376
Preferred dividends	(21,881)						(21,881)
DRIP proceeds	67			67
Conversion of units of the Operating Partnership to common stock	17,287		$ 2	17,285
Redemption of units of the Operating Partnership to common stock (in shares)			239
Redemption of preferred stock	(192,500)						(12,160)		(180,340)
Preferred stock issuance costs	(33)										(33)
Reallocation of noncontrolling interest in the operating partnership	(45,618)						(45,618)
Deferred compensation plan and stock award, net	166		$ 2	752	(588)
Deferred compensation plan and stock award, net (in shares)			135
Amortization of deferred compensation plan	26,329			26,329
Issuance of stock	290,699		$ 30	290,669
Issuance of stock (shares)			3,062
Proceeds from stock options exercised	12,904		$ 2	12,902
Proceeds from stock options exercised (in shares)			224
Contributions-treasury shares	7,120				6,090		1,030
Sale of treasury stock (shares)			83
Contributions to consolidated joint venture interest	8,164							8,164
Cash distributions to noncontrolling interests	(14,623)							(14,623)
Cash distribution declared	(138,684)						(138,684)
Balance at Dec. 31, 2013	7,016,876		$ 986	5,015,904	(317,356)	(15,211)	1,619,150	491,471	0	0	221,932
Balance (in shares) at Dec. 31, 2014			97,325
Increase (Decrease) in Stockholders' Equity
Net income	524,646						518,056	6,590
Other comprehensive income:	8,231					8,231
Preferred dividends	(14,952)						(14,952)
DRIP proceeds	64			64
Conversion of units of the Operating Partnership to common stock	31,653		$ 3	31,650
Redemption of units of the Operating Partnership to common stock (in shares)			315
Reallocation of noncontrolling interest in the operating partnership	(168,439)						(168,439)
Deferred compensation plan and stock award, net	(1,514)			1,601	(3,115)
Deferred compensation plan and stock award, net (in shares)			15
Amortization of deferred compensation plan	29,749			29,749
Issuance of stock	185,321		$ 17	185,304
Issuance of stock (shares)			1,654
Proceeds from stock options exercised	25,211		$ 4	25,207
Proceeds from stock options exercised (in shares)			348
Contributions to consolidated joint venture interest	30,800							30,800
Cash distributions to noncontrolling interests	(7,019)							(7,019)
Cash distribution declared	(201,411)						(201,411)
Balance at Dec. 31, 2014	$ 7,459,216		$ 1,010	$ 5,289,479	$ (320,471)	$ (6,980)	$ 1,752,404	$ 521,842	$ 0	$ 0	$ 221,932

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Stockholders' Equity [Abstract]
Cash distribution declared, per common share (usd per share)	$ 2.10	$ 1.49	$ 1.08

Consolidated Statements of Capital Statement - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Increase (Decrease) in Partner's Capital
Other comprehensive income	$ 8,406	$ 14,987	$ (1,530)
Issuance of units in the Operating Partnership	56,469	24,750	42,239
DRIP proceeds	64	67	99,570
Redemption of units	31,653	17,287	87,513
Redemption of preferred units		(192,500)	(200,013)
Preferred units issuance costs		(33)
Deferred compensation plan	(1,514)	166	(13,428)
Amortization of deferred compensation plan	29,749	26,329	28,742
Contributions-treasury shares		7,120
Cash distributions to noncontrolling interests	(7,019)	(14,623)	(21,946)
Common Stock
Increase (Decrease) in Partner's Capital
DRIP proceeds			$ 13
DRIP proceeds (in shares)			1,305
Redemption of units	$ 3	$ 2	$ 11
Redemption of units (in units)	315	239	1,096
Deferred compensation plan		$ 2	$ 3
Contributions-treasury shares (units)		83
Noncontrolling Interests
Increase (Decrease) in Partner's Capital
Cash distributions to noncontrolling interests	(7,019)	$ (14,623)	(21,946)
SL Green Operating Partnership
Increase (Decrease) in Partner's Capital
Beginning Balance	7,282,352	7,120,010	6,648,339
Net income	543,113	149,023	207,593
Other comprehensive income	8,406	14,987	(1,530)
Preferred distributions	(14,952)	(21,881)	(30,411)
Issuance of units in the Operating Partnership	56,469	24,750	42,239
DRIP proceeds	64	67	99,570
Redemption of units	0	0	0
Redemption of preferred units		(192,500)	(200,013)
Preferred units issuance costs		(33)
Deferred compensation plan	(1,514)	166	(13,428)
Amortization of deferred compensation plan	29,749	26,329	28,742
Contribution to consolidated joint venture interest	30,800	8,164	25,894
Contributions—net proceeds from preferred stock offering			221,965
Contributions—net proceeds from common stock offering	185,321	290,699	201,279
Contributions-treasury shares		7,120
Contributions - proceeds from stock options exercised	25,211	12,904	13,173
Cash distributions to noncontrolling interests	(7,019)	(14,623)	(21,946)
Cash distribution declared	(209,260)	(142,830)	(101,456)
Ending Balance	7,928,740	7,282,352	7,120,010
SL Green Operating Partnership \| General Partner
Increase (Decrease) in Partner's Capital
Beginning Balance	$ 6,506,747	$ 6,189,529	$ 5,714,856
Balance (units)	94,993	91,250	85,783
Net income	$ 503,104	$ 113,490	$ 165,994
DRIP proceeds	$ 64	$ 67	$ 99,570
DRIP proceeds (in shares)		0	1,305
Redemption of units	$ 31,653	$ 17,287	$ 87,513
Redemption of units (in units)	315	239	1,096
Redemption of preferred units		$ (12,160)	$ (10,010)
Deferred compensation plan (units)	15	135	43
Deferred compensation plan	$ (1,514)	$ 166	$ (13,428)
Amortization of deferred compensation plan	29,749	26,329	28,742
Contributions—net proceeds from common stock offering	$ 185,321	$ 290,699	$ 201,279
Contributions - net proceeds from common stock offering (in units)	1,654	3,062	2,640
Contributions-treasury shares		$ 7,120
Contributions-treasury shares (units)		83
Contributions - proceeds from stock options exercised	$ 25,211	$ 12,904	$ 13,173
Contributions - proceeds from stock options exercised (in units)	348	224	383
Cash distribution declared	$ (201,411)	$ (138,684)	$ (98,160)
Ending Balance	$ 7,078,924	$ 6,506,747	$ 6,189,529
Balance (units)	97,325	94,993	91,250
SL Green Operating Partnership \| Limited Partners
Increase (Decrease) in Partner's Capital
Balance (units)	2,902	2,760	2,765
Issuance of units (in units)	1,386	381	801
Redemption of units (in units)	(315)	(239)	(1,096)
Deferred compensation plan (units)			290
Balance (units)	3,973	2,902	2,760
SL Green Operating Partnership \| Series C Preferred Stock
Increase (Decrease) in Partner's Capital
Beginning Balance	$ 0	$ 180,340	$ 274,022
Net income		6,932	20,290
Preferred distributions		(6,932)	(20,290)
Redemption of preferred units		(180,340)	(93,682)
Ending Balance	0	0	180,340
SL Green Operating Partnership \| Series D Preferred Stock
Increase (Decrease) in Partner's Capital
Beginning Balance	0	0	96,321
Net income			4,266
Preferred distributions			(4,266)
Redemption of preferred units			(96,321)
Ending Balance	0	0	0
SL Green Operating Partnership \| Series I Preferred Stock
Increase (Decrease) in Partner's Capital
Beginning Balance	221,932	221,965	0
Net income	14,952	14,949	5,855
Preferred distributions	(14,952)	(14,949)	(5,855)
Preferred units issuance costs		(33)
Contributions—net proceeds from preferred stock offering			221,965
Ending Balance	221,932	221,932	221,965
SL Green Operating Partnership \| Common Stock \| Limited Partners
Increase (Decrease) in Partner's Capital
Beginning Balance	77,864	71,524	114,497
Net income	18,467	3,023	5,597
Issuance of units in the Operating Partnership	56,469	24,750	42,239
Redemption of units	(31,653)	(17,287)	(87,513)
Cash distribution declared	(7,849)	(4,146)	(3,296)
Ending Balance	113,298	77,864	71,524
SL Green Operating Partnership \| Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Partner's Capital
Beginning Balance	(15,662)	(30,649)	(29,119)
Other comprehensive income	8,406	14,987	(1,530)
Ending Balance	(7,256)	(15,662)	(30,649)
SL Green Operating Partnership \| Noncontrolling Interests
Increase (Decrease) in Partner's Capital
Beginning Balance	491,471	487,301	477,762
Net income	6,590	10,629	5,591
Contribution to consolidated joint venture interest	30,800	8,164	25,894
Cash distributions to noncontrolling interests	(7,019)	(14,623)	(21,946)
Ending Balance	$ 521,842	$ 491,471	$ 487,301

Consolidated Statements of Capital (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash distribution declared, per common share (usd per share)	$ 2.10	$ 1.49	$ 1.08
SL Green Operating Partnership
Cash distribution declared, per common share (usd per share)	$ 2.10	$ 1.49	$ 1.08

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating Activities
Net income	$ 545,863	$ 151,283	$ 209,700
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	400,001	357,599	351,539
Equity in net income from unconsolidated joint ventures	(26,537)	(9,921)	(76,418)
Distributions of cumulative earnings from unconsolidated joint ventures	28,859	34,997	91,145
Equity in net gain on sale of interest in unconsolidated joint venture interest/real estate	(123,253)	(3,601)	(37,053)
Purchase price fair value adjustment	(71,446)	2,305	0
Depreciable real estate reserves	0	2,150	0
Gain on sale of discontinued operations	(163,059)	(14,900)	(6,627)
Loan loss and other investment reserves, net of recoveries	0	0	564
Gain on sale of investment in marketable securities	(3,895)	0	(4,940)
Loss on early extinguishment of debt	32,365	10,963	6,978
Deferred rents receivable	(56,362)	(56,739)	(66,079)
Other non-cash adjustments	(28,559)	(37,843)	(18,868)
Changes in operating assets and liabilities:
Restricted cash—operations	861	2,037	(13,812)
Tenant and other receivables	1,978	(7,570)	(10,998)
Related party receivables	(3,673)	(917)	(3,529)
Deferred lease costs	(53,333)	(52,228)	(48,368)
Other assets	9,340	2,904	(35,932)
Accounts payable, accrued expenses and other liabilities and security deposits	(7,796)	(1,473)	9,389
Deferred revenue and land leases payable	9,027	7,157	62
Net cash provided by operating activities	490,381	386,203	346,753
Investing Activities
Acquisitions of real estate property	(1,039,530)	(594,595)	(544,568)
Additions to land, buildings and improvements	(369,887)	(196,571)	(148,148)
Escrowed cash—capital improvements/acquisition deposits	(8,461)	(7,672)	(70,080)
Investments in unconsolidated joint ventures	(382,010)	(150,274)	(215,174)
Distributions in excess of cumulative earnings from unconsolidated joint ventures	236,181	42,720	127,876
Proceeds from disposition of real estate/joint venture interest	820,599	227,615	178,485
Proceeds from sale of marketable securities	8,248	2,370	11,070
Purchases of marketable securities	(14,364)	(11,493)	(6,660)
Other investments	(7,448)	(43,163)	(36,750)
Origination of debt and preferred equity investments	(617,090)	(555,137)	(645,229)
Repayments or redemption of debt and preferred equity investments	576,927	657,765	185,775
Net cash used in investing activities	(796,835)	(628,435)	(1,163,403)
Financing Activities
Proceeds from mortgages and other loans payable	2,151,603	1,257,172	1,230,167
Repayments of mortgages and other loans payable	(2,201,999)	(1,085,220)	(684,954)
Proceeds from revolving credit facility and senior unsecured notes	1,908,000	1,164,000	1,751,480
Repayments of revolving credit facility and senior unsecured notes	(1,386,588)	(1,020,215)	(1,577,756)
Payments of debt extinguishment costs	(50,150)	0	(6,909)
Proceeds from stock options exercised and DRIP issuance	25,275	12,971	112,743
Net proceeds from sale of common stock	185,321	290,699	201,279
Net proceeds from sale of preferred stock	0	0	221,965
Redemption of preferred stock	(2,000)	(192,533)	(200,013)
Sale or purchase of treasury stock	0	7,120	(14,150)
Distributions to noncontrolling interests in other partnerships	(7,019)	(14,623)	(21,946)
Contributions from noncontrolling interests in other partnerships	30,675	8,164	25,894
Distributions to noncontrolling interests in the Operating Partnership	(7,849)	(4,146)	(3,296)
Dividends paid on common and preferred stock	(206,974)	(148,407)	(121,238)
Other obligations related to mortgage loan participations	0	0	5,000
Deferred loan costs and capitalized lease obligation	(57,124)	(16,042)	(49,824)
Net cash provided by financing activities	381,171	258,940	868,442
Net increase in cash and cash equivalents	74,717	16,708	51,792
Cash and cash equivalents at beginning of year	206,692	189,984	138,192
Cash and cash equivalents at end of year	281,409	206,692	189,984
Supplemental cash flow disclosures:
Interest paid	348,230	325,903	322,469
Income taxes paid	4,056	2,666	17
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Issuance of common stock as deferred compensation	1,601	164	722
Issuance of units in the Operating Partnership	56,469	24,750	42,239
Redemption of units in the Operating Partnership	31,653	17,287	87,513
Derivative instruments at fair value	11,230	636	92
Assignment of debt investment to joint venture	0	0	25,362
Mortgage assigned to joint venture	150,000	0	0
Tenant improvements and capital expenditures payable	9,408	502	1,738
Fair value adjustment to noncontrolling interest in the Operating Partnership	168,439	45,618	61,238
Assumption of mortgage loans	16,000	84,642	0
Consolidation of real estate investments and other adjustments	1,316,591	90,934	0
Repayment of mezzanine loans	0	0	13,750
Redemption of Series E units	0	0	31,698
Repayment of financing receivable	0	0	28,195
Investment in joint venture	88,957	0	5,135
Capital leased asset	0	9,992	28,132
Deconsolidation of a subsidiary	112,095	0	104,107
Transfer to net assets held for sale	462,430	0	4,901
Transfer to liabilities related to net assets held for sale	266,873	0	136
Transfer of financing receivable to debt investment	19,675	0	0
Deferred leasing payable	8,667	5,024	91
Issuance of preferred units	27,565	0	47,550
SL Green Operating Partnership
Operating Activities
Net income	545,863	151,283	209,700
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	400,001	357,599	351,539
Equity in net income from unconsolidated joint ventures	(26,537)	(9,921)	(76,418)
Distributions of cumulative earnings from unconsolidated joint ventures	28,859	34,997	91,145
Equity in net gain on sale of interest in unconsolidated joint venture interest/real estate	(123,253)	(3,601)	(37,053)
Purchase price fair value adjustment	(71,446)	2,305	0
Depreciable real estate reserves	0	2,150	0
Gain on sale of discontinued operations	(163,059)	(14,900)	(6,627)
Loan loss and other investment reserves, net of recoveries	0	0	564
Gain on sale of investment in marketable securities	(3,895)	0	(4,940)
Loss on early extinguishment of debt	32,365	10,963	6,978
Deferred rents receivable	(56,362)	(56,739)	(66,079)
Other non-cash adjustments	(28,559)	(37,843)	(18,868)
Changes in operating assets and liabilities:
Restricted cash—operations	861	2,037	(13,812)
Tenant and other receivables	1,978	(7,570)	(10,998)
Related party receivables	(3,673)	(917)	(3,529)
Deferred lease costs	(53,333)	(52,228)	(48,368)
Other assets	9,340	2,904	(35,932)
Accounts payable, accrued expenses and other liabilities and security deposits	(7,796)	(1,473)	9,389
Deferred revenue and land leases payable	9,027	7,157	62
Net cash provided by operating activities	490,381	386,203	346,753
Investing Activities
Acquisitions of real estate property	(1,039,530)	(594,595)	(544,568)
Additions to land, buildings and improvements	(369,887)	(196,571)	(148,148)
Escrowed cash—capital improvements/acquisition deposits	(8,461)	(7,672)	(70,080)
Investments in unconsolidated joint ventures	(382,010)	(150,274)	(215,174)
Distributions in excess of cumulative earnings from unconsolidated joint ventures	236,181	42,720	127,876
Proceeds from disposition of real estate/joint venture interest	820,599	227,615	178,485
Proceeds from sale of marketable securities	8,248	2,370	11,070
Purchases of marketable securities	(14,364)	(11,493)	(6,660)
Other investments	(7,448)	(43,163)	(36,750)
Origination of debt and preferred equity investments	(617,090)	(555,137)	(645,229)
Repayments or redemption of debt and preferred equity investments	576,927	657,765	185,775
Net cash used in investing activities	(796,835)	(628,435)	(1,163,403)
Financing Activities
Proceeds from mortgages and other loans payable	2,151,603	1,257,172	1,230,167
Repayments of mortgages and other loans payable	(2,201,999)	(1,085,220)	(684,954)
Proceeds from revolving credit facility and senior unsecured notes	1,908,000	1,164,000	1,751,480
Repayments of revolving credit facility and senior unsecured notes	(1,386,588)	(1,020,215)	(1,577,756)
Payments of debt extinguishment costs	(50,150)	0	(6,909)
Proceeds from stock options exercised and DRIP issuance	25,275	12,971	112,743
Net proceeds from sale of common stock	185,321	290,699	201,279
Net proceeds from sale of preferred stock	0	0	221,965
Redemption of preferred stock	(2,000)	(192,533)	(200,013)
Sale or purchase of treasury stock	0	7,120	(14,150)
Distributions to noncontrolling interests in other partnerships	(7,019)	(14,623)	(21,946)
Contributions from noncontrolling interests in other partnerships	30,675	8,164	25,894
Dividends paid on common and preferred stock	(214,823)	(152,553)	(124,534)
Other obligations related to mortgage loan participations	0	0	5,000
Deferred loan costs and capitalized lease obligation	(57,124)	(16,042)	(49,824)
Net cash provided by financing activities	381,171	258,940	868,442
Net increase in cash and cash equivalents	74,717	16,708	51,792
Cash and cash equivalents at beginning of year	206,692	189,984	138,192
Cash and cash equivalents at end of year	281,409	206,692	189,984
Supplemental cash flow disclosures:
Interest paid	348,230	325,903	322,469
Income taxes paid	4,056	2,666	17
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Issuance of common stock as deferred compensation	1,601	164	722
Issuance of units in the Operating Partnership	56,469	24,750	42,239
Redemption of units in the Operating Partnership	31,653	17,287	87,513
Derivative instruments at fair value	11,230	636	92
Assignment of debt investment to joint venture	0	0	25,362
Mortgage assigned to joint venture	150,000	0	0
Tenant improvements and capital expenditures payable	9,408	502	1,738
Assumption of mortgage loans	16,000	84,642	0
Consolidation of real estate investments and other adjustments	1,316,591	90,934	0
Repayment of mezzanine loans	0	0	13,750
Redemption of Series E units	0	0	31,698
Repayment of financing receivable	0	0	28,195
Investment in joint venture	88,957	0	5,135
Capital leased asset	0	9,992	28,132
Deconsolidation of a subsidiary	112,095	0	104,107
Transfer to net assets held for sale	462,430	0	4,901
Transfer to liabilities related to net assets held for sale	266,873	0	136
Transfer of financing receivable to debt investment	19,675	0	0
Deferred leasing payable	8,667	5,024	91
Issuance of preferred units	$ 27,565	$ 0	$ 47,550

Consolidated Statements of Cash Flows (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly distributions declared, per share/unit (usd per share/unit)	$ 0.60	$ 0.50	$ 0.33
SL Green Operating Partnership
Quarterly distributions declared, per share/unit (usd per share/unit)	$ 0.60	$ 0.50	$ 0.33

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 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 December 31, 2014, noncontrolling investors held, in the aggregate, a 3.92% 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 December 31, 2014, we owned the following interests in commercial office buildings in the New York Metropolitan area, primarily in midtown Manhattan. Our investments in the New York Metropolitan area also include investments in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey, which are collectively known as the Suburban properties:



		Consolidated			Unconsolidated		Total
Location	Type	Number of Properties		Approximate Square Feet (unaudited)	Number of Properties	Approximate Square Feet (unaudited)	Number of Properties	Approximate Square Feet (unaudited)	Weighted Average Occupancy(1) (unaudited)
Commercial:
Manhattan	Office	23		18,429,045	7	3,476,115	30	21,905,160	95.3	%
	Retail	9	(2)	403,735	7	279,628	16	683,363	91.0	%
	Development/Redevelopment	9	(3)	1,973,862	5	1,952,782	14	3,926,644	32.6	%
	Fee Interest	2		783,530	—	—	2	783,530	100.0	%
		43		21,590,172	19	5,708,525	62	27,298,697	86.3	%
Suburban	Office	27		4,365,400	4	1,222,100	31	5,587,500	82.4	%
	Retail	1		52,000	—	—	1	52,000	100.0	%
	Development/Redevelopment	1		85,000	2	65,641	3	150,641	54.2	%
		29		4,502,400	6	1,287,741	35	5,790,141	81.8	%
Total commercial properties		72		26,092,572	25	6,996,266	97	33,088,838	85.5	%
Residential:
Manhattan	Residential	3	(2)	735,587	—	—	3	735,587	95.6	%
Suburban	Residential	1		66,611	—	—	1	66,611	89.6	%
Total residential properties		4		802,198	—	—	4	802,198	95.2	%
Total portfolio		76		26,894,770	25	6,996,266	101	33,891,036	85.8	%

____________________________________________________________________


(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 December 31, 2014, we owned a building that was comprised of approximately 270,132 square feet (unaudited) of retail space and approximately 222,855 square feet (unaudited) 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 one property which was held for sale as of December 31, 2014 and sold in January 2015.

As of December 31, 2014, we also managed an approximately 336,201 square foot (unaudited) office building owned by a third party and 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, we allocate 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, shares of SL Green's common stock on a one-for-one basis.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2134480

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2209116

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2197480

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/subtopic&trid=2122150

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=28200181&loc=SL6228881-111685

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 272
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/subtopic&trid=2122524

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 235
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7668296&loc=d3e288-107754

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

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-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755

+ Details

Significant Accounting Policies

12 Months Ended

Dec. 31, 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 December 31, 2014 and 2013 are $198.4 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 December 31, 2014 and 2013 are $106.5 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 December 31, 2014 are $445.0 million of commercial real estate and $253.9 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 the 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

Real estate properties are presented at cost less accumulated depreciation and amortization. Costs directly related to the development or redevelopment of properties are capitalized. Ordinary repairs and maintenance are expensed as incurred; major replacements and betterments, which improve or extend the life of the asset, are capitalized and depreciated over their estimated useful lives.

A property to be disposed of is reported at the lower of its carrying value or its estimated fair value, less its cost to sell. Once an asset is held for sale, depreciation expense is no longer recorded and the historic results are reclassified as discontinued operations. See Note 4, "Properties Held for Sale and Dispositions."

Properties are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows:



Category		Term
Building (fee ownership)		40 years
Building improvements		shorter of remaining life of the building or useful life
Building (leasehold interest)		lesser of 40 years or remaining term of the lease
Property under capital lease		remaining lease term
Furniture and fixtures		four to seven years
Tenant improvements		shorter of remaining term of the lease or useful life

Depreciation expense (including amortization of the capital lease asset) amounted to $338.8 million, $296.5 million and $287.5 million for the years ended December 31, 2014, 2013 and 2012, respectively.

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 do not believe that the values of any of our consolidated properties were impaired at December 31, 2014.

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. In June 2013, we recorded a $2.2 million impairment charge in connection with the sale of 300 Main Street in Stamford, Connecticut. We do not believe that the value of our real estate property held for sale was impaired at December 31, 2014.

We incur a variety of costs in the development and leasing of our properties. After determination is made to capitalize a cost, it is allocated to the specific component of a project that is benefited. Determination of when a development project is substantially complete and capitalization must cease involves a degree of judgment. The costs of land and building under development include specifically identifiable costs. The capitalized costs include, but are not limited to, pre-construction costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. We consider a construction project as substantially completed and held available for occupancy upon the completion of tenant improvements, but no later than one year from cessation of major construction activity. We cease capitalization on the portions substantially completed and occupied or held available for occupancy, and capitalize only those costs associated with the portions under construction.

Results of operations of properties acquired are included in the consolidated statements of income from the date of acquisition.

We recognize the assets acquired, liabilities assumed (including contingencies) and any noncontrolling interests in an acquired entity at their fair values on the acquisition date. We expense acquisition-related transaction costs as incurred, which are included in transaction related costs on our consolidated statements of income.

When we acquire our partner's equity interest in an existing unconsolidated joint venture and gain control over the investment, we record the consolidated investment at fair value. The difference between the book value of our equity investment on the purchase date and our share of the fair value of the investment's purchase price is recorded as a purchase price fair value adjustment in our consolidated statements of income. In May 2014, we recognized a purchase price fair value adjustment of $71.4 million in connection with the consolidation of 388-390 Greenwich Street. In April 2013, we recognized a purchase price fair value adjustment of $(2.3) million in connection with the consolidation of 16 Court Street. These acquisitions were previously accounted for as investments in unconsolidated joint ventures.

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. As of December 31, 2014, the weighted average amortization period for above-market leases, below-market leases, and in-place lease costs is 7.03 years, 5.62 years, and 5.96 years, respectively.

We recognized an increase of $23.3 million, $18.8 million and $16.5 million in rental revenue for the years ended December 31, 2014, 2013 and 2012, 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. The increase in rental revenue for the year ended December 31, 2013 is net of $6.8 million resulting from a write-off of above-market and in-place balances associated with a former tenant. Excluding this non-recurring charge, we recognized an increase of $25.6 million in rental revenue for the year ended December 31, 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 $5.0 million, $5.0 million and $1.4 million for the years ended December 31, 2014, 2013 and 2012, 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 December 31, 2014 and 2013 (in thousands):



	December 31,
	2014			2013
Identified intangible assets (included in other assets):
Gross amount	$	664,297		$	746,704
Accumulated amortization	(383,236		)	(343,339		)
Net	$	281,061		$	403,365
Identified intangible liabilities (included in deferred revenue):
Gross amount	$	655,755		$	671,380
Accumulated amortization	(483,948		)	(429,138		)
Net	$	171,807		$	242,242

The estimated annual amortization of acquired above-market leases, net of acquired (below-market) leases (a component of rental revenue), for each of the five succeeding years is as follows (in thousands):



2015	$	1,978
2016	(592		)
2017	(1,303		)
2018	(3,135		)
2019	(3,994		)

The estimated annual amortization of all other identifiable assets (a component of depreciation and amortization expense) including tenant improvements for each of the five succeeding years is as follows (in thousands):



2015	$	9,150
2016	5,919
2017	4,442
2018	3,005
2019	2,467

Cash and Cash Equivalents

We consider all highly liquid investments with maturity of three months or less when purchased to be cash equivalents.

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



	December 31,
	2014		2013
Equity marketable securities	$	4,332	$	4,307
Commercial mortgage-backed securities	35,097		24,419
Rake bonds	—		3,323
Total marketable securities available-for-sale	$	39,429	$	32,049

The cost basis of the commercial mortgage-backed securities was $32.4 million and $23.0 million at December 31, 2014 and 2013, respectively. These securities mature at various times through 2049. The cost basis of the rake bonds was $3.6 million at December 31, 2013.

During the year ended December 31, 2014 and 2012, we disposed of marketable securities for aggregate net proceeds of $4.4 million and $6.8 million, respectively, and realized gains of $3.9 million and $4.9 million, respectively, which are included in gain on sale of investment in marketable securities on the consolidated statements of income. We did not sell any of our marketable securities during the year ended December 31, 2013.

Investments in Unconsolidated Joint Ventures

We account for our investments in unconsolidated joint ventures under the equity method of accounting in cases where we exercise significant influence over, but do not control, these entities and are not considered to be the primary beneficiary. We consolidate those joint ventures that we control or which are VIEs and where we are considered to be the primary beneficiary. In all these joint ventures, the rights of the joint venture partner are both protective as well as participating. Unless we are determined to be the primary beneficiary in a VIE, these participating rights preclude us from consolidating these non-VIE entities. These investments are recorded initially at cost, as investments in unconsolidated joint ventures, and subsequently adjusted for equity in net income (loss) and cash contributions and distributions. Equity income (loss) from unconsolidated joint ventures is allocated based on our ownership or economic interest in each joint venture. When a capital event (as defined in each joint venture agreement) such as a refinancing occurs, if return thresholds are met, future equity income will be allocated at our increased economic interest. We recognize incentive income from unconsolidated real estate joint ventures as income to the extent it is earned and not subject to a clawback feature. Distributions we receive from unconsolidated real estate joint ventures in excess of our basis in the investment are recorded as offsets to our investment balance if we remain liable for future obligations of the joint venture or may otherwise be committed to provide future additional financial support. None of the joint venture debt is recourse to us, except for $18.4 million which we guarantee at one joint ventures and performance guarantees under master leases at two other joint ventures. See Note 6, "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 December 31, 2014.

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

Restricted Cash

Restricted cash primarily consists of security deposits held on behalf of our tenants, interest reserves, as well as capital improvement and real estate tax escrows required under certain loan agreements.

Deferred Lease Costs

Deferred lease costs consist of fees and direct costs incurred to initiate and renew operating leases and are amortized on a straight-line basis over the related lease term. Certain of our employees provide leasing services to the wholly-owned properties. For the years ended December 31, 2014, 2013 and 2012, $15.1 million, $12.4 million and $11.0 million of their compensation, respectively, was capitalized and is amortized over an estimated average lease term of seven years.

Deferred Financing Costs

Deferred financing costs represent commitment fees, legal, title and other third party costs associated with obtaining commitments for financing which result in a closing of such financing. These costs are amortized over the terms of the respective agreements. Unamortized deferred financing costs are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financing transactions, which do not close, are expensed in the period in which it is determined that the financing will not close.

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 is 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 origination 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, the collection of which 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.

Asset management fees are recognized on a straight-line basis over the term of the asset management agreement.

Allowance for Doubtful Accounts

We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our tenants to make required payments. If the financial condition of a specific tenant were to deteriorate, resulting in an impairment of its ability to make payments, additional allowances may be required.

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 the years ended December 31, 2014 and 2013. We recorded loan loss reserves of $3.0 million on investments held to maturity during the year ended December 31, 2012, partially offset by recoveries of $2.4 million.

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.

Rent Expense

Rent expense is recognized on a straight-line basis over the initial term of the lease. The excess of the rent expense recognized over the amounts contractually due pursuant to the underlying lease is included in the deferred land lease payable on the consolidated balance sheets.

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, TRSs 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 years ended December 31, 2014 and 2013, we recorded Federal, state and local tax provisions of $7.8 million and $4.4 million, respectively. There were no Federal, state and local tax provisions for the year ended December 31, 2012.

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.

Underwriting Commissions and Costs

Underwriting commissions and costs incurred in connection with our stock offerings are reflected as a reduction of additional paid-in-capital.

Exchangeable Debt Instruments

The initial proceeds from exchangeable debt that may be settled in cash, including partial cash settlements, must be bifurcated between a liability component and an equity component associated with the embedded conversion option. The objective of the accounting guidance is to require the liability and equity components of exchangeable debt to be separately accounted for in a manner such that the interest expense on the exchangeable debt is not recorded at the stated rate of interest but rather at an effective rate that reflects the issuer's conventional debt borrowing rate at the date of issuance. We calculate the liability component of exchangeable debt based on the present value of the contractual cash flows discounted at our comparable market conventional debt borrowing rate at the date of issuance. The difference between the principal amount and the fair value of the liability component is reported as a discount on the exchangeable debt that is accreted as additional interest expense from the issuance date through the contractual maturity date using the effective interest method. A portion of this additional interest expense may be capitalized to the development and redevelopment balances qualifying for interest capitalization each period. The liability component of the exchangeable debt is reported net of discounts on our consolidated balance sheets. We calculate the equity component of exchangeable debt based on the difference between the initial proceeds received from the issuance of the exchangeable debt and the fair value of the liability component at the issuance date. The equity component is included in additional paid-in-capital, net of issuance costs, on our consolidated balance sheets. We allocate issuance costs for exchangeable debt between the liability and the equity components based on their relative values.

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 awards that vest based on the achievement of a performance condition or market condition, we determine whether it is probable that the performance condition will be met, and estimate compensation cost based on the fair value of the award at the applicable reporting date estimated using a binomial model or market quotes. 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.

Derivative Instruments

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. Effectiveness is essential for those derivatives that we intend to quality for hedge accounting. Some derivative instruments are associated with an anticipated transaction. In those cases, hedge effectiveness criteria also require that it be probable that the underlying transaction occurs. Instruments that meet these hedging criteria are formally designated as hedges at the inception of the derivative contract.

To determine the fair values of derivative instruments, we use a variety of methods and assumptions that are based on market conditions and risks existing at each balance sheet date. For the majority of financial instruments including most derivatives, long-term investments and long-term debt, standard market conventions and techniques such as discounted cash flow analysis, option pricing models, replacement cost, and termination cost are used to determine fair value. All methods of assessing fair value result in a general approximation of value, and such value may never actually be realized.

In the normal course of business, we are exposed to the effect of interest rate changes and limit these risks by following established risk management policies and procedures including the use of derivatives. To address exposure to interest rates, derivatives are used primarily to fix the rate on debt based on floating-rate indices and manage the cost of borrowing obligations.

We use a variety of commonly used derivative products that are considered plain vanilla derivatives. These derivatives typically include interest rate swaps, caps, collars and floors. We expressly prohibit the use of unconventional derivative instruments and using derivative instruments for trading or speculative purposes. Further, we have a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors.

We may employ swaps, forwards or purchased options to hedge qualifying forecasted transactions. Gains and losses related to these transactions are deferred and recognized in net income as interest expense in the same period or periods that the underlying transaction occurs, expires or is otherwise terminated.

Hedges that are reported at fair value and presented on the balance sheet could be characterized as cash flow hedges or fair value hedges. Interest rate caps and collars are examples of cash flow hedges. Cash flow hedges address the risk associated with future cash flows of interest payments. For all hedges held by us and which were deemed to be fully effective in meeting the hedging objectives established by our corporate policy governing interest rate risk management, no net gains or losses were reported in earnings. The changes in fair value of hedge instruments are reflected in accumulated other comprehensive income. For derivative instruments not designated as hedging instruments, the gain or loss, resulting from the change in the estimated fair value of the derivative instruments, is recognized in current earnings during the period of change.

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 New Jersey. The tenants located in our buildings operate in various industries. Other than three tenants who account for 10.9%, 7.2% 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 share of annualized cash rent, including our share of joint venture annualized rent, at December 31, 2014. For the year ended December 31, 2014, 9.9%, 9.8%, 7.8% and 7.5% of our annualized cash rent for consolidated properties was attributable to 1515 Broadway, 388-390 Greenwich Street, 1185 Avenue of the Americas and 919 Third Avenue, respectively. For the year ended December 31, 2013, 10.6%, 7.8%, 7.7% and 6.4% of our annualized cash rent for consolidated properties was attributable to 1515 Broadway, 919 Third Avenue, 1185 Avenue of the Americas and One Madison Avenue, respectively. For the year ended December 31, 2012, 10.2%, 8.0%, 7.1%, and 6.2% of our annualized rent for consolidated properties was attributable to 1515 Broadway, 919 Third Avenue, 1185 Avenue of the Americas and One Madison Avenue, respectively. As of December 31, 2014, 73.4% of our work force is covered by six collective bargaining agreements and 77.6% of our work force which services substantially all of our properties is covered by a collective bargaining agreement which expires in December 2015. See Note 20, "Benefits Plans."

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 February 2015, the Financial Accounting Standards Board, or FASB, issued new guidance that amends the current consolidation guidance, including introducing a separate consolidation analysis specific to limited partnerships and other similar entities (Accounting Standards Update, or ASU, No. 2015-02). Under this analysis, limited partnerships and other similar entities will be considered a VIE unless the limited partners hold substantive kick-out rights or participating rights. The guidance is effective for annual and interim periods beginning after December 15, 2015. Early adoption of this guidance is permitted. The Company is currently evaluating the new guidance to determine the impact it may have on our consolidated financial statements.

In June 2014, 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 (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.

In February 2013, the FASB issued guidance on the presentation and disclosure of reclassification adjustments out of accumulated other comprehensive income, or AOCI (ASU No. 2013-02). The standard requires an entity to present information about significant items reclassified out of AOCI by component either on the face of the statement where net income is presented or as a separate disclosure in the notes to financial statements. The guidance was effective for calendar year-end public companies beginning in the first quarter of 2013 and its adoption did not have a material impact on our consolidated financial statements.

In December 2011, the FASB issued guidance that concluded when a parent ceases to have a controlling financial interest in a subsidiary that is in-substance real estate as a result of default on the subsidiary's nonrecourse debt, the reporting entity must apply the accounting guidance for sales of real estate to determine whether it should derecognize the in-substance real estate (ASU No. 2011-10). The reporting entity is precluded from derecognizing the real estate until legal ownership has been transferred to the lender to satisfy the debt. The guidance was effective for calendar year-end public and nonpublic companies in 2013 and is to be applied on a prospective basis. Early adoption of the guidance is permitted. Adoption of this guidance did not have a material impact on our consolidated financial statements.

In May 2011, the FASB issued updated guidance on fair value measurement which amends U.S. GAAP to conform to IFRS measurement and disclosure requirements (ASU No. 2011-04). The amendments change the wording used to describe the requirements in U.S. GAAP for measuring fair value, changes certain fair value measurement principles and enhances disclosure requirements. This guidance was effective as of the first quarter of 2012, and its adoption did not have a material impact on our consolidated financial statements.

Property Acquisitions

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Property Acquisitions

2014 Acquisitions

During the year ended December 31, 2014, the properties listed below were acquired from third parties. The following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these acquisitions (in thousands):



	102 Greene Street⁽¹⁾		635 Madison Avenue⁽¹⁾⁽⁴⁾		752 Madison Avenue⁽¹⁾⁽²⁾		719 Seventh Avenue⁽¹⁾⁽⁵⁾		115 Spring Street⁽¹⁾		388-390 Greenwich Street ⁽¹⁾⁽³⁾
Acquisition Date	October 2014		September 2014		August 2014		July 2014		July 2014		May 2014
Ownership Type	Fee Interest		Fee Interest		Leasehold Interest		Fee Interest		Fee Interest		Fee Interest
Property Type	Retail		Land		Retail		Development		Retail		Office

Purchase Price Allocation:
Land	$	11,288	$	153,745	$	282,415	$	14,402	$	15,938	$	558,777
Building and building leasehold	20,962		—		—		26,747		37,187		1,037,729
Above market lease value	—		—		—		—		—		—
Acquired in-place leases	—		—		—		—		—		—
Other assets, net of other liabilities	—		—		—		—		—		6,495
Assets acquired	32,250		153,745		282,415		41,149		53,125		1,603,001
Mark-to-market assumed debt	—		—		—		—		—		—
Below market lease value	—		—		—		—		—		—
Derivatives	—		—		—		—		—		18,001
Liabilities assumed	—		—		—		—		—		18,001
Purchase price	$	32,250	$	153,745	$	282,415	$	41,149	$	53,125	$	1,585,000
Net consideration funded by us at closing, excluding consideration financed by debt	$	32,250	$	153,745	$	282,415	$	41,149	$	53,125	$	208,614
Equity and/or debt investment held	$	—	$	—	$	—	$	—	$	—	$	148,025
Debt assumed	$	—	$	—	$	—	$	—	$	—	$	1,162,379

____________________________________________________________________


(1)	We are currently in the process of analyzing the purchase price allocation and, as such, we have not allocated any value to intangible assets such as above- and below-market lease or in-place leases.


(2)	In January 2012, a separate joint venture in which an SL Green entity holds an 80% interest acquired the ground tenancy position.

(3)

In May 2014, we acquired Ivanhoe Cambridge, Inc.'s 49.65% economic interest in this property, thereby consolidating full ownership of the property. The transaction valued the consolidated interests at $1.585 billion. Simultaneous with the closing, we refinanced the previous mortgage with a $1.45 billion mortgage. 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.


(4)	This property was acquired inclusive of the issuance of $4.0 million aggregate liquidation preference of Series J Preferred Units of limited partnership interest of the Operating Partnership.

(5)

We, along with our joint venture partner, acquired this property inclusive of the issuance of $14.1 million aggregate liquidation preference of Series L Preferred Units of limited partnership interest of the Operating Partnership and $9.5 million aggregate liquidation preference of Series K Preferred Units of limited partnership interest of the Operating Partnership. We hold a 75.0% controlling interest in this joint venture.

2013 Acquisitions

During the year ended December 31, 2013, the properties listed below were acquired from unrelated third parties. The following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these acquisitions (in thousands):



	315 West 33rd Street⁽¹⁾		Assemblage of Retail Development Properties on Fifth Avenue⁽¹⁾		16 Court⁽²⁾		248-252 Bedford Avenue⁽³⁾
Acquisition Date	November 2013		November 2013		April 2013		March 2013
Ownership Type	Fee Interest		Fee Interest		Fee Interest		Fee Interest
Property Type	Residential		Development		Office		Residential

Purchase Price Allocation:
Land	$	195,834	$	135,513	$	19,217	$	10,865
Building and building leasehold	164,429		10,487		63,210		44,035
Above market lease value	7,084		—		5,122		—
Acquired in-place leases	26,125		—		9,422		—
Other assets, net of other liabilities	1,142		—		3,380		—
Assets acquired	394,614		146,000		100,351		54,900
Mark-to-market assumed debt	—		—		294		—
Below market lease value	7,839		—		3,885		—
Liabilities assumed	7,839		—		4,179		—
Purchase price	$	386,775	$	146,000	$	96,172	$	54,900
Net consideration funded by us at closing, excluding consideration financed by debt	$	386,775	$	146,000	$	4,000	$	21,782
Equity and/or debt investment held	$	—	$	—	$	13,835	$	—
Debt assumed	$	—	$	—	$	84,642	$	—

____________________________________________________________________


(1)	During the year ended December 31, 2014, we finalized the purchase price allocation based on a third party appraisal and additional facts and circumstances that existed at the acquisition dates. These adjustments did not have a material impact to our consolidated statement of income for the year ended December 31, 2014.

(2)

In April 2013, we acquired interests from our joint venture partner, City Investment Fund, or CIF, in 16 Court Street in Brooklyn for $4.0 million. We have consolidated the ownership of the building. The transaction valued the consolidated interest at $96.2 million, inclusive of the $84.6 million mortgage encumbering the property. In April 2014, we repaid the mortgage. We recognized a purchase price fair value adjustment of $(2.3) million upon the closing of this transaction. This property, which we initially acquired in July 2007, was previously accounted for as an investment in unconsolidated joint ventures.

(3)

In March 2013, we, along with Magnum Real Estate Group, acquired 84 residential units, consisting of 72 apartment units and 12 townhouses, located at 248-252 Bedford Avenue, Williamsburg, Brooklyn for $54.9 million. Simultaneous with the closing on this property, the joint venture closed on a $22.0 million mortgage loan which was later refinanced in June 2014. The property is above a commercial property already owned by us. We hold a 90.0% controlling interest in this joint venture.

2012 Acquisitions

During the year ended December 31, 2012, the properties listed below were acquired from unrelated third parties. The following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these acquisitions (in thousands):



	985-987 Third Avenue⁽¹⁾		131-137 Spring Street		635-641 Sixth Avenue		304 Park Avenue South⁽²⁾		Stonehenge Properties⁽³⁾
Acquisition Date	December 2012		December 2012		September 2012		June 2012		January 2012
Ownership Type	Fee Interest		Fee Interest		Fee Interest		Fee Interest		Fee Interest/Leasehold Interest
Property Type	Development		Retail		Development		Office		Residential/Retail

Purchase Price Allocation:
Land	$	5,400	$	27,021	$	69,848	$	54,189	$	65,533
Building and building leasehold	12,600		105,342		104,474		75,619		128,457
Above market lease value	—		179		—		2,824		594
Acquired in-place leases	—		7,046		7,727		8,265		9,573
Other assets, net of other liabilities	—		—		—		—		2,190
Assets acquired	18,000		139,588		182,049		140,897		206,347
Fair value adjustment to mortgage note payable	—		—		—		—		—
Below market lease value	—		17,288		9,049		5,897		13,239
Liabilities assumed	—		17,288		9,049		5,897		13,239
Purchase price	$	18,000	$	122,300	$	173,000	$	135,000	$	193,108
Net consideration funded by us at closing, excluding consideration financed by debt	$	18,000	$	122,300	$	173,000	$	135,000	$	78,121
Equity and/or debt investment held	$	—	$	—	$	—	$	—	$	—
Debt assumed	$	—	$	—	$	—	$	—	$	—

____________________________________________________________________


(1)	This property was subsequently sold in July 2014. See Note 4, "Properties Held for Sale and Dispositions."


(2)	This property was acquired with $102.0 million in cash and $33.0 million in units of limited partnership interest of the Operating Partnership.

(3)

In January 2012, we acquired five retail and two multifamily properties in Manhattan for $193.1 million. This property was acquired inclusive of the issuance of $47.6 million aggregate liquidation preference of Series G Preferred Units of limited partnership interest of the Operating Partnership. Simultaneous with the closing, we financed the multifamily component, which encompasses 385 units and approximately 488,000 square feet (unaudited), with an aggregate $100.0 million fixed rate mortgage which bears interest at 4.1% and one of the retail properties financed with an $8.5 million fixed rate mortgage. We hold an 80.0% interest in this joint venture which we consolidate as it is a VIE and we have been designated as the primary beneficiary. In February 2013, we sold one of the retail properties, which is further described in Note 4, "Properties Held for Sale and Dispositions."

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 statements of income for the years ended December 31, 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 transaction had been completed as set forth above, nor do they purport to represent our results of operations for future periods.



	Year Ended December 31,
(in thousands, except per share amounts)	2014		2013
Actual revenues since acquisition	$	1,519,978
Actual net income since acquisition	545,863
Pro forma revenues	1,562,206		1,481,021
Pro forma income from continuing operations⁽¹⁾	298,679		205,437
Pro forma basic earnings per share	4.60		2.10
Pro forma diluted earnings per share	4.58		2.09
Pro forma basic earnings per unit	4.60		2.10
Pro forma diluted earnings per unit	4.58		2.09

____________________________________________________________________

(1)

The pro forma income from continuing operations for the years ended December 31, 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 year ended December 31, 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 year ended December 31, 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

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Properties Held for Sale and Dispositions

As of December 31, 2014, we classified 180 Maiden Lane, with approximately 1,090,000 usable square feet (unaudited), as held for sale. Subsequent to year end, we sold the property for a gross sale price of $470.0 million.

Dispositions

The following table summarizes the properties sold during the years ended December 31, 2014, 2013, and 2012:



Property	Disposition Date	Property Type	Approximate Usable Square Feet (unaudited)	Sales Price (in millions)		Gain (Loss) on Sale⁽¹⁾ (in millions)
2 Herald Square	November 2014	Land	354,400	$	365.0	$	18.8
985-987 Third Avenue	July 2014	Development	13,678	68.7		29.8
673 First Avenue	May 2014	Office	422,000	145.0		117.6
300 Main Street	September 2013	Office	130,000	13.5		(2.2		)
333 West 34th Street	August 2013	Office	345,400	220.3		13.8
44 West 55th Street	February 2013	Retail	8,557	6.3		1.1
292 Madison Avenue	February 2012	Land	203,800	85.0		6.6

____________________________________________________________________

(1)

The gain on sale for 2 Herald Square, 985-987 Third Avenue, 673 First Avenue, 333 West 34th Street, and 292 Madison Avenue are net of a $2.5 million, $1.3 million, $3.4 million, $3.0 million and $1.5 million employee compensation award, respectively, accrued in connection with the realization of this investment gain as a bonus to certain employees that were instrumental in realizing the gain on sale. Additionally, amounts do not include adjustments for expense recorded in subsequent periods.

Discontinued Operations

Discontinued operations included the results of operations of real estate assets under contract or sold prior to December 31, 2014. This included 180 Maiden Lane, which was held for sale at December 31, 2014, 2 Herald Square, 985-987 Third Avenue and 673 First Avenue, which were sold during 2014, 44 West 55th Street, 333 West 34th Street and 300 Main Street, which were sold in 2013, and 292 Madison Avenue, which was sold in 2012.

The following table summarizes net income from discontinued operations for the years ended December 31, 2014, 2013 and 2012, respectively (in thousands).



	Year Ended December 31,
	2014		2013		2012
Revenues
Rental revenue	$	51,090	$	94,558	$	97,254
Escalation and reimbursement revenues	4,646		14,856		16,232
Other income	23		554		8,295
Total revenues	55,759		109,968		121,781
Operating expenses	7,772		20,568		23,166
Real estate taxes	7,156		16,521		16,190
Ground rent	3,001		7,975		6,362
Interest expense, net of interest income	12,652		19,782		22,298
Depreciable real estate reserves	—		2,150		—
Transaction related costs, net of recoveries	89		2		383
Depreciation and amortization	5,581		16,443		20,250
Amortization of deferred financing costs	433		840		892
Total expenses	36,684		84,281		89,541
Net income from discontinued operations	$	19,075	$	25,687	$	32,240

- 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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-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

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

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Debt and Preferred Equity Investments

During the years ended December 31, 2014 and 2013, our debt and preferred equity investments (net of discounts and deferred origination fees) increased $680.1 million and $601.3 million, respectively, due to originations, purchases, advances under future funding obligations, protective advances, accretion of reserves, discounts, premiums and paid-in-kind interest. We recorded repayments, participations and sales of $576.1 million and $644.9 million during the years ended December 31, 2014 and 2013, respectively, which offset the increases in debt and preferred equity investments.

Debt Investments

As of December 31, 2014 and 2013, we held the following debt investments with an aggregate weighted average current yield of 10.33% at December 31, 2014 (in thousands):



Loan Type	December 31, 2014 Future Funding Obligations		December 31, 2014 Senior Financing		December 31, 2014 Carrying Value, Net of Discounts and Deferred Origination Fees⁽¹⁾		December 31, 2013 Carrying Value, Net of Discounts and Deferred Origination Fees⁽¹⁾		Initial Maturity Date
Fixed Rate Investments:
Jr. Mortgage Participation	$	—	$	398,500	$	11,934	$	11,856	March 2015
Jr. Mortgage Participation /Mezzanine Loan	—		205,000		70,688		68,319		February 2016
Other⁽²⁾	—		—		45,611		44,742		Various⁽²⁾
Mezzanine Loan⁽³⁾	—		177,000		14,068		15,012		May 2016
Jr. Mortgage Participation	—		133,000		49,000		49,000		June 2016
Mezzanine Loan	—		165,000		71,656		71,312		November 2016
Jr. Mortgage Participation/Mezzanine Loan⁽⁴⁾	—		1,109,000		98,934		26,884		March 2017
Other⁽⁴⁾	—		—		65,770		54,099		March 2017
Mezzanine Loan⁽⁵⁾	16,424		521,750		24,608		20,954		June 2017
Mezzanine Loan	—		539,000		49,629		—		July 2018
Mortgage Loan⁽⁶⁾	—		—		26,209		—		February 2019



Mortgage Loan	—		—		637		—			August 2019
Mezzanine Loan	—		15,000		3,500		3,500			September 2021
Mezzanine Loan⁽⁷⁾	—		90,000		19,930		19,926			November 2023
Mezzanine Loan	—		95,000		30,000		—			January 2025
Total fixed rate	$	16,424	$	3,448,250	$	582,174	$	385,604
Floating Rate Investments:
Mezzanine Loan	7,785		50,000		37,322		—			April 2015
Mortgage/Mezzanine Loan	—		—		109,527		—			June 2015
Mezzanine Loan	—		110,000		49,614		49,110			September 2015
Mezzanine Loan	7,249		113,633		42,750		27,662			December 2015
Mezzanine Loan	—		775,000		73,402		72,823			March 2016
Mezzanine Loan⁽⁸⁾	—		160,000		22,573		22,526			June 2016
Mezzanine Loan	—		115,000		24,910		25,590			July 2016
Mezzanine Loan	3,641		172,105		33,726		25,725			November 2016
Mezzanine Loan	—		360,000		99,023		—			November 2016
Mezzanine Loan	333		33,833		11,835		11,798			December 2016
Mezzanine Loan	9,053		91,727		20,651		—			January 2017
Mortgage/Mezzanine Loan	2,847		110,767		38,524		—			July 2017
Mortgage/Mezzanine Loan	—		—		22,803		—			July 2017
Mortgage/Mezzanine Loan	—		—		16,848		—			September 2017
Mezzanine Loan	—		60,000		14,859		—			November 2017
Mortgage/Mezzanine Loan⁽⁹⁾	795		—		14,845		—			December 2017
Jr. Mortgage Participation/Mezzanine Loan	—		55,000		20,533		20,553			July 2018
Mortgage/Mezzanine Loan	—		—		18,083		—			February 2019
Mezzanine Loan	—		38,000		21,807		—			March 2019
Mortgage Loan⁽¹⁰⁾	—		—		—		30,000
Jr. Mortgage Participation⁽¹¹⁾	—		—		—		24,046
Jr. Mortgage Participation/Mezzanine Loan⁽¹¹⁾	—		—		—		131,724
Mezzanine Loan⁽¹²⁾	—		—		—		59,892
Jr. Mortgage Participation⁽¹²⁾	—		—		—		10,873
Mezzanine Loan⁽¹²⁾	—		—		—		38,549
Total floating rate	$	31,703	$	2,245,065	$	693,635	$	550,871
Total	$	48,127	$	5,693,315	$	1,275,809	$	936,475
Loan loss reserve					—		(1,000		)
					$	1,275,809	$	935,475

____________________________________________________________________


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

(2)

During the fourth quarter of 2014, both our $22.6 million junior participation and our $23.0 mezzanine loan were defeased and are now collateralized by defeasance securities. In connection with the defeasance, the maturity date of the mortgage in which we are a junior participant was accelerated from the May 2016 to February 2016, per the terms of the loan agreement. The maturity date of the mezzanine loan was not changed in connection with the defeasance and will mature in May 2016.


(3)	This loan was repaid in February 2015.

(4)

During the first quarter of 2014, we recognized $10.1 million of previously unaccrued interest income which was deemed collectible as a result of the sale of the underlying 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 in the mortgage and we acquired a $67.3 million participating interest in the new mezzanine loan.


(5)	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.


(6)	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 non-accrual status.


(7)	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.


(8)	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.


(9)	Carrying value is net of $5.1 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.


(10)	This loan was repaid in May 2014.


(11)	This loan was repaid in July 2014.


(12)	This loan was repaid in August 2014.

Preferred Equity Investments

As of December 31, 2014 and 2013, we held the following preferred equity investments with an aggregate weighted average current yield of 10.89% at December 31, 2014 (in thousands):



Type	December 31, 2014 Senior Financing		December 31, 2014 Carrying Value, Net of Discounts and Deferred Origination Fees⁽¹⁾		December 31, 2013 Carrying Value, Net of Discounts and Deferred Origination Fees⁽¹⁾		Initial Mandatory Redemption
Preferred equity⁽²⁾	$	550,000	$	123,041	$	115,198	July 2015
Preferred equity	70,000		9,954		9,940		November 2017
Preferred equity⁽³⁾	—		—		25,896
Preferred equity⁽²⁾⁽⁴⁾	—		—		218,330
	$	620,000	$	132,995	$	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.


(4)	This preferred equity investment was redeemed in November 2014.

The following table is a rollforward of our total loan loss reserves at December 31, 2014, 2013 and 2012 (in thousands):



	December 31,
	2014			2013			2012
Balance at beginning of year	$	1,000		$	7,000		$	50,175
Expensed	—			—			3,000
Recoveries	—			—			(2,436		)
Charge-offs and reclassifications	(1,000		)	(6,000		)	(43,739		)
Balance at end of period	$	—		$	1,000		$	7,000

At December 31, 2014, 2013 and 2012, all debt and preferred equity investments were performing in accordance with the terms of the relevant investments, with the exception of a junior mortgage participation acquired in September 2014, which has a carrying value of zero.

We have determined that we have one portfolio segment of financing receivables at December 31, 2014 and 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 $133.5 million and $172.8 million at December 31, 2014 and 2013, respectively. No financing receivables were 90 days past due at December 31, 2014.

The following table presents impaired loans, which may include non-accrual loans, as of December 31, 2013 (in thousands):



	December 31, 2013
	Unpaid Principal Balance		Recorded Investment		Allowance Allocated
With no related allowance recorded:
Commercial real estate	$	—	$	—	$	—
With an allowance recorded:
Commercial real estate⁽¹⁾	10,750		10,750		1,000
Total	$	10,750	$	10,750	$	1,000

____________________________________________________________________


(1)	This loan was repaid during the year ended December 31, 2014.

During the year ended December 31, 2013, the average recorded investment in impaired loans, which may include non-accrual loans, and the related investment and preferred equity income recognized were $10.9 million and $7.1 million, respectively. On an ongoing basis, we monitor the credit quality of our financing receivables based on payment activity. We assess credit quality indicators based on the underlying collateral.

- Definition

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

+ References + Details

Investments in Unconsolidated Joint Ventures

12 Months Ended

Dec. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

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, or Credit Suisse, Jeff Sutton, or Sutton, Harel Insurance and Finance, or Harel, TNG 33 LLC, or Naftali, Louis Cappelli, or Cappelli, The Moinian Group, or Moinian, Vornado Realty Trust (NYSE:VNO), or Vornado, Plaza Global Real Estate Partners LP, or Plaza, KCLW 3rd Street LLC, or Kushner Companies, LIVWRK LLC, or LIVWRK, 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 December 31, 2014 and 2013. Prior to the acquisition of our joint venture partner's interest in May 2014, 388-390 Greenwich Street 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 $146.2 million and $310.7 million at December 31, 2014 and 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 December 31, 2014:



Property	Partner	Ownership Interest	Economic Interest	Approximate Square Feet (unaudited)	Acquisition Date	Acquisition Price⁽¹⁾ (in thousands)
100 Park Avenue	Prudential	49.90%	49.90%	834,000	January 2000	$	95,800
717 Fifth Avenue⁽²⁾	Sutton/Private Investor	10.92%	10.92%	119,500	September 2006	251,900
800 Third Avenue	Private Investors	42.95%	42.95%	526,000	December 2006	285,000
1745 Broadway⁽³⁾	Ivanhoe Cambridge	56.88%	56.88%	674,000	April 2007	520,000
Jericho Plaza	Onyx/Credit Suisse	20.26%	20.26%	640,000	April 2007	210,000
The Meadows	Onyx	50.00%	50.00%	582,100	September 2007	111,500
600 Lexington Avenue	CPPIB	55.00%	55.00%	303,515	May 2010	193,000
11 West 34th Street	Private Investor\Sutton	30.00%	30.00%	17,150	December 2010	10,800
7 Renaissance	Cappelli	50.00%	50.00%	65,641	December 2010	4,000
3 Columbus Circle⁽⁴⁾	Moinian	48.90%	48.90%	741,500	January 2011	500,000
280 Park Avenue⁽⁵⁾	Vornado	50.00%	50.00%	1,219,158	March 2011	400,000
1552-1560 Broadway⁽⁶⁾	Sutton	50.00%	50.00%	35,897	August 2011	136,550
724 Fifth Avenue	Sutton	50.00%	50.00%	65,040	January 2012	223,000
10 East 53rd Street	CPPIB	55.00%	55.00%	354,300	February 2012	252,500
33 Beekman⁽⁷⁾	Harel/Naftali	45.90%	45.90%	—	August 2012	31,000
521 Fifth Avenue⁽⁸⁾	Plaza	50.50%	50.50%	460,000	November 2012	315,000



21 East 66th Street⁽⁹⁾	Private Investors	32.28%	32.28%	16,736	December 2012	75,000
315 West 36th Street	Private Investors	35.50%	35.50%	147,619	December 2012	45,000
650 Fifth Avenue⁽¹⁰⁾	Sutton	50.00%	50.00%	32,324	November 2013	—
121 Greene Street	Sutton	50.00%	50.00%	7,131	September 2014	27,400
175-225 Third Street⁽¹¹⁾	Kushner Companies/LIVWRK	95.00%	95.00%	—	October 2014	74,600
55 West 46th Street⁽¹²⁾	Prudential	25.00%	25.00%	347,000	November 2014	295,000

____________________________________________________________________


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


(2)	In June 2012, we recognized $67.9 million of additional cash income, equivalent to profit, due to the distribution of refinancing proceeds and a gain on sale of $3.0 million, on the sale of 50.0% of our remaining interest.

(3)

In November 2014, we acquired Lehman Bros.' 7.37% interest in 1745 Broadway. In December 2014, we additionally acquired Witkoff's 14.79% interest and Wells Fargo's 2.46% interest in the property. In connection with the acquisition of Witkoff's interest, we assumed a partner loan of $16.0 million, which is included in mortgages and other loans payable in the consolidated balance sheet, and $7.0 million of accrued interest.


(4)	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.


(5)	In October 2014, we, along with Vornado, acquired equally the interest of minority shareholders for $11.0 million.


(6)	The purchase price represents only the purchase of the 1552 Broadway interest which comprised approximately 13,045 square feet (unaudited). 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.


(7)	The property is currently being developed into a 30 story dormitory building, which will be conveyed to Pace University upon its completion under a long-term ground lease arrangement.

(8)

In November 2012, we refinanced the previous mortgage and sold 49.5% of our partnership interest. We recognized a gain of $19.4 million on the sale. Due to lack of control, we deconsolidated the entity effective November 30, 2012 and adopted the equity method of accounting thereafter. During the year ended December 31, 2013, we recognized additional post closing costs of $2.8 million as an adjustment to the gain.


(9)	In October 2014, the joint venture sold one of the residential units at the property. We recognized a gain of $0.7 million on the sale. As of December 31, 2014, we hold a 32.28% interest in three retail and two residential units at the property and a 16.14% interest in three residential units at the property.

(10)

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.


(11)	In October 2014, we, along with our joint venture partners, acquired a development site at 175-225 Third Street in Brooklyn, New York. The property is being managed by our joint venture partners. We did not consolidate the property as a result of multiple partners having substantive participating rights.

(12)

In October 2014, we acquired the vacant commercial condominium units on floors 2 and 22-34 in the building located at 55 West 46^th Street for $295.0 million. We also acquired a retail space on 46^th Street and the building’s parking garage and fitness center. We consolidated the property from acquisition through October 31, 2014. In November 2014, we, together with Prudential, formed a joint venture for the ownership of the condominium units. We sold 75.00% of our interest to Prudential and retained 25.00% interest in the joint venture. As a result of Prudential having substantive participating rights, we deconsolidated the property and adopted the equity method of accounting subsequently thereafter.

Acquisition, Development, and Construction Arrangements

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. As of December 31, 2014, the carrying value of this investment was $99.6 million.

In October 2014, we closed on the origination of a $45.8 million acquisition and equity financing, which is due to mature in February 2022. We have an option to convert our loan into equity interest subject to certain conditions. As of December 31, 2014, the carrying value of this investment was $46.2 million.

Based on the characteristics of these arrangements which are similar to those of an investment, combined with the expected residual profit of not greater than 50%, we have accounted for our investment under the equity method. In addition, we determined that the option to purchase is not a derivative financial instrument pursuant to GAAP. As such, the embedded feature is not required to be bifurcated and the fair value accounting for the embedded feature at each reporting date is not applicable.

Sale of Joint Venture Interest or Property

The following table summarizes the investments in unconsolidated joint ventures sold during the years ended December 31, 2014, 2013, and 2012:



Property	Ownership Percentage		Disposition Date	Type of Sale	Implied Sales Price ⁽¹⁾ (in millions)		Gain on Sale⁽²⁾ (in millions)
180 Broadway⁽³⁾	25.50	%	September 2014	Property	$	222.5	$	16.5
747 Madison Avenue⁽⁴⁾	33.33	%	May 2014	Ownership Interest	160.0		—
West Coast Office portfolio⁽⁵⁾	42.02	%	March 2014	Ownership Interest	756.0		85.6
21-25 West 34th Street⁽⁶⁾	49.90	%	January 2014	Ownership Interest	114.9		20.9
27-29 West 34th Street⁽⁷⁾	50.00	%	December 2013	Ownership Interest	70.1		7.6
West Coast Office Portfolio⁽⁵⁾	42.04	%	Various dates in 2013	Property	224.3		2.1
One Court Square⁽⁸⁾	30.00	%	July 2012	Property	481.1		1.0
379 West Broadway⁽⁹⁾	45.00	%	April 2012	Property	48.5		6.5
141 Fifth Avenue⁽¹⁰⁾	50.00	%	March 2012	Property	46.0		7.3

____________________________________________________________________


(1)	Represents implied gross valuation for the joint venture or sales price of the property.


(2)	Represents the Company's share of the gain.


(3)	In connection with the sale of the property, we also recognized a promote of $3.3 million.

(4)

We sold our ownership 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. We also 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 requirements of a sale under the full accrual method. We, along with our joint venture partners, retained one apartment unit at this property.

(5)

Prior to the recapitalization, we consolidated the investment for the months of August and September 2012 as a result of our 63.18% ownership interest and control over its activities. Immediately following the recapitalization in September 2012, our investment was 27.63%. The change in ownership resulted in a change in accounting from consolidating the investment to accounting for the joint venture under the equity method of accounting. During the year ended December 31, 2013, the joint venture sold three properties, the proceeds of which were used primarily to repay a portion of the debt. Also during the year ended December 31, 2013, we acquired in aggregate 14.39% ownership interest of two of our joint venture partners. As a result, we had a 42.04% effective ownership interest (43.74% effective economic interest) in the West Coast portfolio as of December 31, 2013. During the year ended December 31, 2014, we sold our ownership interest in the joint venture.


(6)	We sold our ownership interest in the joint venture. We, along with our joint venture partner, retained approximately 91,300 square feet (unaudited) of development rights at the property.

(7)

We sold our ownership interest in the joint venture. The gain on the sale of this investment is net of a $1.5 million employee compensation award, accrued in connection with the realization of this investment gain as a bonus to certain employees that were instrumental in realizing the gain on this sale. Simultaneously, we, along with Sutton, also formed a new joint venture and retained the air rights at this property.


(8)	We, along with our joint venture partner, sold the property, which included the assumption by the purchaser of $315.0 million of existing debt.


(9)	We, along with our joint venture partner, sold the property, inclusive of the fee position, which was acquired for $13.5 million.


(10)	We, along with our joint venture partner, sold the property. The gain on the sale of this investment is net of a $1.5 million employee compensation award, accrued in connection with the realization of this investment gain as a bonus to certain employees that were instrumental in realizing the gain on this sale.

In December 2013, the preferred equity interest held by the joint venture which holds Herald Center was redeemed. This preferred equity interest bore interest at a rate of 8.75% per annum through the redemption date.

Mortgages and Other Loans Payable

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



Property	Maturity Date	Interest Rate⁽¹⁾		December 31, 2014		December 31, 2013
Fixed Rate Debt:
7 Renaissance	December 2015	10.00	%	$	2,147	$	1,276
11 West 34th Street	January 2016	4.82	%	16,905		17,205
280 Park Avenue	June 2016	6.57	%	700,171		706,886
1745 Broadway	January 2017	5.68	%	340,000		340,000
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
521 Fifth Avenue⁽²⁾	November 2019	2.48	%	170,000		—
717 Fifth Avenue⁽³⁾	July 2022	4.45	%	300,000		300,000
21 East 66th Street	April 2023	3.60	%	12,000		12,000
717 Fifth Avenue⁽³⁾	July 2024	9.00	%	314,381		304,000
388-390 Greenwich Street⁽⁴⁾	—	—		—		996,082
100 Park Avenue⁽⁵⁾	—	—		—		209,786
21 West 34th Street⁽⁶⁾	—	—		—		100,000
1604-1610 Broadway⁽⁷⁾	—	—		—		27,000
Total fixed rate debt				$	2,065,264	$	3,223,895
Floating Rate Debt:
The Meadows	September 2015	7.75	%	67,350		67,350
3 Columbus Circle⁽⁸⁾	April 2016	2.33	%	230,974		239,233
1552 Broadway⁽⁹⁾	April 2016	4.25	%	184,210		158,690
Other loan payable	June 2016	1.05	%	30,000		30,000
650 Fifth Avenue⁽¹⁰⁾	October 2016	3.66	%	65,000		—
175-225 Third Street	December 2016	4.25	%	40,000		—
10 East 53rd Street	February 2017	2.65	%	125,000		125,000
724 Fifth Avenue⁽¹¹⁾	April 2017	2.57	%	275,000		120,000
33 Beekman⁽¹²⁾	August 2017	2.90	%	52,283		18,362
600 Lexington Avenue	October 2017	2.23	%	116,740		120,616
55 West 46th Street⁽¹³⁾	October 2017	2.45	%	150,000		—
121 Greene Street	November 2019	1.67	%	15,000		—
100 Park Avenue⁽⁵⁾	February 2021	2.36	%	360,000		—
21 East 66th Street	June 2033	2.88	%	1,883		1,959
521 Fifth Avenue⁽²⁾	—	—		—		170,000
388-390 Greenwich Street⁽⁴⁾	—	—		—		142,297
747 Madison Avenue	—	—		—		33,125
West Coast Office portfolio⁽¹⁴⁾	—	—		—		526,290
180/182 Broadway⁽¹⁵⁾	—	—		—		89,893
Total floating rate debt				$	1,713,440	$	1,842,815
Total joint venture mortgages and other loans payable				$	3,778,704	$	5,066,710

____________________________________________________________________


(1)	Effective weighted average interest rate for the year ended December 31, 2014, taking into account interest rate hedges in effect during the period.


(2)	This loan became a 3.73% fixed rate mortgage upon the effectivity of the interest rate swap in November 2014.


(3)	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.


(4)	In May 2014, we acquired the interest of our joint venture partner, 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.


(5)	In February 2014, the joint venture refinanced the previous mortgage and incurred a net loss on early extinguishment of debt of $3.2 million.


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


(7)	This loan was in default since November 2009 due to the non-payment of debt service. In January 2014, the joint venture surrendered its ground lease position to the lender. During the year ended December 31, 2014, we recognized $7.7 million of incentive income, which is included in other income on the consolidated statements of income.

(8)

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 4 of the first table.


(9)	These loans are comprised of a $150.0 million mortgage loan and a $41.5 million mezzanine loan. As of December 31, 2014, $3.9 million of the mortgage loan and $3.4 million of the mezzanine loan remained unfunded.


(10)	In October 2014, the joint venture closed on a $97.0 million leasehold mortgage, of which $32.0 million remained unfunded as of December 31, 2014.


(11)	In April 2014, the joint venture refinanced the previous mortgage 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, of which $18.4 million 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)	This loan has a committed amount of $190.0 million, of which $40.0 million remained unfunded as of December 31, 2014.


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


(15)	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, Jericho Plaza, 280 Park Avenue, 3 Columbus Circle, The Meadows, 315 West 36th Street, 21 East 66th Street, and 175-225 Third Street. We are entitled to receive fees for providing management, leasing, construction supervision and asset management services to our joint ventures. We earned $16.9 million, $4.7 million and $7.9 million from these services for the years ended December 31, 2014, 2013 and 2012, 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 December 31, 2014 and 2013, are as follows (in thousands):



	December 31,
	2014		2013
Assets
Commercial real estate property, net	$	5,275,632	$	6,846,021
Other assets	810,567		827,282
Total assets	$	6,086,199	$	7,673,303
Liabilities and members' equity
Mortgages and other loans payable	$	3,778,704	$	5,066,710
Other liabilities	485,572		596,960
Members' equity	1,821,923		2,009,633
Total liabilities and members' equity	$	6,086,199	$	7,673,303
Company's investments in unconsolidated joint ventures	$	1,172,020	$	1,113,218

The combined statements of income for the unconsolidated joint ventures, from acquisition date through the years ended December 31, 2014, 2013 and 2012 are as follows (in thousands):



	Years Ended December 31,
	2014			2013		2012
Total revenues	$	522,132		$	628,649	$	511,157
Operating expenses	82,436			114,633		80,722
Ground rent	9,898			2,863		2,975
Real estate taxes	64,217			71,755		53,613
Interest expense, net of interest income	178,743			225,765		221,476
Amortization of deferred financing costs	12,395			17,092		9,739
Transaction related costs	535			808		2,044
Depreciation and amortization	137,793			192,504		166,336
Total expenses	486,017			625,420		536,905
(Loss) gain on early extinguishment of debt	(6,743		)	—		21,421
Net income (loss) before gain on sale	$	29,372		$	3,229	$	(4,327	)
Company's equity in net income from unconsolidated joint ventures	$	26,537		$	9,921	$	76,418

Equity in net income from unconsolidated joint ventures for the year ended December 31, 2012 includes additional income of $67.9 million as a result of the distribution of the recapitalization of 717 Fifth Avenue and $10.8 million as a result of the repayment of the Meadows' previous mortgage at a discount.

Deferred Costs

12 Months Ended

Dec. 31, 2014

Deferred Costs [Abstract]

Deferred Costs

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



	December 31,
	2014			2013
Deferred leasing	$	385,555		$	326,379
Deferred financing	193,776			157,088
	579,331			483,467
Less accumulated amortization	(251,369		)	(216,409		)
Deferred costs, net	$	327,962		$	267,058

Mortgages and Other Loans Payable

12 Months Ended

Dec. 31, 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 December 31, 2014 and 2013, respectively, were as follows (amounts in thousands):



Property	Maturity Date	Interest Rate⁽¹⁾		December 31, 2014		December 31, 2013
Fixed Rate Debt:
711 Third Avenue	June 2015	4.99	%	$	120,000	$	120,000
500 West Putnam Avenue	January 2016	5.52	%	22,968		23,529
Landmark Square	December 2016	4.00	%	81,269		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	%	8,045		8,211
885 Third Avenue	July 2017	6.26	%	267,650		267,650
1745 Broadway⁽²⁾	June 2018	4.81	%	16,000		—
388-390 Greenwich Street⁽³⁾	June 2018	2.99	%	1,004,000		—
One Madison Avenue	May 2020	5.91	%	565,742		587,336



100 Church	July 2022	4.68	%	228,612		230,000
919 Third Avenue⁽⁴⁾	June 2023	5.12	%	500,000		500,000
400 East 57th Street	February 2024	4.13	%	68,896		70,000
400 East 58th Street	February 2024	4.13	%	29,527		30,000
420 Lexington Avenue⁽⁵⁾	October 2024	5.95	%	300,000		182,641
1515 Broadway⁽⁶⁾	March 2025	3.93	%	900,000		900,000
Series J Preferred Units⁽⁷⁾	April 2051	3.75	%	4,000		—
Other loan payable⁽⁸⁾				—		50,000
609 Partners, LLC⁽⁹⁾				—		23
125 Park Avenue⁽¹⁰⁾				—		146,250
2 Herald Square⁽¹¹⁾				—		191,250
625 Madison Avenue⁽¹²⁾				—		120,830
Total fixed rate debt				$	4,736,709	$	4,130,629
Floating Rate Debt:
Master repurchase agreement⁽¹³⁾	December 2015	3.38	%	100,000		91,000
180 Maiden Lane⁽¹⁴⁾	November 2016	2.35	%	253,942		262,706
388-390 Greenwich Street⁽³⁾	June 2018	1.91	%	446,000		—
248-252 Bedford Avenue⁽¹⁵⁾	June 2019	1.93	%	29,000		22,000
220 East 42nd Street	October 2020	1.75	%	275,000		275,000
16 Court Street⁽¹⁶⁾				—		79,243
Total floating rate debt				$	1,103,942	$	729,949
Total mortgages and other loans payable				$	5,840,651	$	4,860,578

____________________________________________________________________


(1)	Effective weighted average interest rate for the year ended December 31, 2014, taking into account interest rate hedges in effect during the period.


(2)	In connection with our acquisition of Witkoff's interest in the unconsolidated joint venture which holds 1745 Broadway, we have assumed this partner loan.

(3)

Simultaneous with the acquisition of our joint venture partner's interest, we refinanced the $1.1 billion floating rate mortgage with a $1.45 billion seven-year floating rate mortgage (including the as-of right extension option), and have consolidated the property. We assumed the existing derivative instruments, which swapped $504.0 million of the floating rate mortgage to a fixed rate mortgage which bears interest at 3.80% per annum. In October 2014, we entered into multiple swap agreements to hedge our interest rate exposure on the additional $500.0 million portion of this mortgage, which was swapped to a fixed rate of 2.69% per annum.


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


(5)	In September 2014, we refinanced the previous mortgage and incurred a loss on early extinguishment of debt of $24.5 million. The new loan bears a fixed interest rate of 3.99% per annum.


(6)	In February 2013, we refinanced the mortgage and incurred a loss on early extinguishment of debt of $18.5 million.

(7)

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, or 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.


(8)	In November 2014, we repaid the loan.


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


(10)	In October 2014, we repaid the loan at maturity.


(11)	In November 2014, we sold the property and defeased the debt.


(12)	In December 2014, we prepaid the loan and incurred a loss on early extinguishment of debt of $6.9 million.


(13)	The Master Repurchase Agreement, or MRA, has a maximum facility capacity of $300.0 million. In December 2014, we extended the maturity date of the MRA to December 5, 2015.

(14)

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 was held for sale at December 31, 2014 and the related mortgage is included in liabilities related to assets held for sale. In January 2015, the property was sold and the debt was repaid.


(15)	In June 2014, we refinanced the mortgage and incurred a loss on early extinguishment of debt of $0.5 million. In April 2014, we repaid the mortgage and incurred a loss on early extinguishment of debt of $0.5 million.

At December 31, 2014 and 2013, the gross book value of the properties and debt and preferred equity investments collateralizing the mortgages and other loans payable was approximately $8.2 billion and $8.0 billion, respectively.

Corporate Indebtedness

12 Months Ended

Dec. 31, 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 facility by $383.0 million to $783.0 million, decreased the interest-rate margin applicable to the term loan portion of the 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. In November 2014, we increased the term loan portion of the facility by $50.0 million to $833.0 million. As of December 31, 2014, the 2012 credit facility, as amended, consists of a $1.2 billion revolving credit facility, or the revolving credit facility, and an $833.0 million term loan, or the term loan facility. In January 2015, we entered into a second amended and restated credit agreement, which decreased the interest-rate margin and facility fee applicable to the revolving credit facility by 20 basis points and five basis points, respectively, and extended the maturity date of the revolving credit facility to March 29, 2019 with an as-of-right extension through March 29, 2020. 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.

As of December 31, 2014, the 2012 credit facility bore 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 December 31, 2014, the applicable spread was 145 basis points for revolving credit facility and 140 basis points for the term loan facility. At December 31, 2014, the effective interest rate was 1.61% for the revolving credit facility and 1.67% 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 December 31, 2014, the facility fee was 30 basis points. As of December 31, 2014, we had $113.2 million of outstanding letters of credit, $385.0 million drawn under the revolving credit facility and $833.0 million outstanding under the term loan facility, with total undrawn capacity of $701.8 million under the 2012 credit facility.

In connection with the amendment of the 2012 credit facility, we incurred debt origination and other loan costs of $3.0 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).

2011 Revolving Credit Facility

The 2012 credit facility replaced our $1.5 billion revolving credit facility, or the 2011 revolving credit facility, which was terminated concurrently with the entering into the 2012 credit facility. The 2011 revolving credit facility bore interest at a spread over LIBOR ranging from 100 basis points to 185 basis points, based on the credit rating assigned to the senior unsecured long-term indebtedness of ROP, and required to pay quarterly in arrears a 17.5 to 45 basis point facility fee on the total commitments under the 2011 revolving credit facility. The 2011 revolving credit facility included certain restrictions and covenants and, as of the time of the termination of the 2011 revolving credit facility and as of November 2012, we were in compliance with all such restrictions and covenants.

Senior Unsecured Notes

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



Issuance	December 31, 2014 Unpaid Principal Balance		December 31, 2014 Accreted Balance		December 31, 2013 Accreted Balance		Coupon Rate⁽¹⁾		Effective Rate		Term (in Years)	Maturity Date
March 31, 2006⁽²⁾	$	255,308	$	255,250	$	255,206	6.00	%	6.00	%	10	March 31, 2016
October 12, 2010⁽³⁾	345,000		309,069		297,837		3.00	%	3.00	%	7	October 15, 2017
August 5, 2011⁽⁴⁾	250,000		249,744		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	$	1,274,078	$	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 12.1163 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. As a result of meeting specified events (as defined in the Indenture Agreement), these notes are exchangeable commencing January 1, 2015 and will remain exchangeable through March 31, 2015. The notes are guaranteed by ROP. On the issuance date, $78.3 million of the debt balance was recorded in equity. As of December 31, 2014, $35.9 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 current exchange rate is 5.7952 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 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 December 31, 2014 and 2013, 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 125 basis points over the three-month LIBOR. 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, 2012 credit facility, trust preferred securities, senior unsecured notes and our share of joint venture debt as of December 31, 2014, including as-of-right extension options and put options, were as follows (in thousands):



	Scheduled Amortization			Principal Repayments			Revolving Credit Facility		Unsecured Term Loan		Trust Preferred Securities		Senior Unsecured Notes		Total		Joint Venture Debt
2015	$	39,353	(1)	$	220,000		$	—	$	—	$	—	$	7	$	259,360	$	44,700
2016	54,344		(1)	338,465		(1)	—		—		—		255,308		648,117		640,176
2017	61,063			895,329			—		—		—		355,008		1,311,400		572,003
2018	64,462			16,000			385,000		—		—		250,000		715,462		28
2019	71,133			28,317			—		833,000		—		—		932,450		94,890
Thereafter	203,098			3,849,087			—		—		100,000		450,000		4,602,185		266,191
	$	493,453	(1)	$	5,347,198	(1)	$	385,000	$	833,000	$	100,000	$	1,310,323	$	8,468,974	$	1,617,988

____________________________________________________________________


(1)	Scheduled amortization and principal repayments include the mortgage at 180 Maiden Lane, which is included in liabilities related to assets held for sale. In January 2015, the property was sold and the debt was repaid.

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



	Year Ended December 31,
	2014			2013			2012
Interest expense	$	319,898		$	312,897		$	311,235
Interest income	(2,498		)	(2,003		)	(1,554		)
Interest expense, net	$	317,400		$	310,894		$	309,681
Interest capitalized	$	22,750		$	11,475		$	12,218

Related Party Transactions

12 Months Ended

Dec. 31, 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 $3.8 million, $3.5 million and $4.0 million for the years ended December 31, 2014, 2013 and 2012, respectively. We also recorded expenses of $21.5 million, $23.4 million and $20.5 million for the years ended December 31, 2014, 2013 and 2012, respectively, for these services (excluding services provided directly to tenants).

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 $444,300, $441,100 and $384,900 for the years ended December 31, 2014, 2013 and 2012, respectively.

Other

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



	December 31,
	2014		2013
Due from joint ventures	$	1,254	$	2,376
Other	10,481		6,154
Related party receivables	$	11,735	$	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

12 Months Ended

Dec. 31, 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 December 31, 2014 and 2013, the noncontrolling interest unit holders owned 3.92%, or 3,973,016 units, and 2.96%, or 2,902,317 units, of the Operating Partnership, respectively. At December 31, 2014, 3,973,016 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 (in thousands) as of December 31, 2014 and 2013:



	December 31,
	2014			2013
Balance at beginning of period	$	265,476		$	212,907
Distributions	(7,849		)	(4,146		)
Issuance of common units	56,469			24,750
Redemption of common units	(31,653		)	(17,287		)
Net income	18,467			3,023
Accumulated other comprehensive income allocation	175			611
Fair value adjustment	168,439			45,618
Balance at end of period	$	469,524		$	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 outstanding, 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 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 option of the unitholder.

In October 2014, the Operating Partnership redeemed the 80,000 6.0% Series H Preferred Units of limited partnership interest, or the Series H Preferred Units, at a redemption price of $25.00 per unit plus $0.05833 in accumulated and unpaid dividends on such Preferred Units from October 15 through October 28, 2014.

Stockholders' Equity of the Company

12 Months Ended

Dec. 31, 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 December 31, 2014, 97,325,200 shares of common stock and no shares of excess stock were issued and outstanding.

In November 2013, the Company completed an offering of 2,600,000 shares of its common stock, par value $0.01 per share, at a price of $95.94 per share. The Company received net proceeds of $248.9 million, after deducting offering expenses. The net proceeds from these offerings were contributed to the Operating Partnership in exchange for 2,600,000 common units of limited partnership interest and were used to repay debt, fund new investments and for other corporate purposes.

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 year ended December 31, 2014, we sold 25,659 shares of our common stock out of the remaining balance of the ATM Program for aggregate net proceeds of $2.8 million. The net proceeds from these offerings 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 year ended December 31, 2014, we sold 1,626,999 shares of our common stock for aggregate net proceeds of $182.9 million. The net proceeds from these offerings were contributed to the Operating Partnership in exchange for 1,626,999 units of limited partnership interest of the Operating Partnership. In January 2015, the Company sold the remaining common stock available for issuance under the new ATM program. See Note 25, "Subsequent Events" for further details.

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. In August 2012, we received $221.9 million in net proceeds from the issuance of the Series I Preferred Stock, which were recorded net of underwriters' discount and issuance costs, and contributed the net proceeds to the Operating Partnership in exchange for 9,200,000 units of 6.50% Series I Cumulative Redeemable Preferred Units of limited partnership interest, or the Series I Preferred Units.

In June 2013, we redeemed the remaining 7,700,000 outstanding shares of our 7.625% Series C Cumulative Redeemable Preferred stock, or the Series C Preferred Stock at a redemption price of $25.00 per share plus $0.3495 in accumulated and unpaid dividends on such Preferred Stock through June 21, 2013. We recognized $12.2 million of costs to redeem the remaining Series C Preferred Stock. In September 2012, we had redeemed 4,000,000 shares of our 11,700,000 shares of Series C Preferred Stock, at a redemption price of $25.00 per share plus $0.3707 in accumulated and unpaid dividends on such Preferred Stock through September 24, 2012. We recognized $6.3 million of costs to redeem partially the Series C Preferred Stock. Simultaneously with each redemption, an equal number of 7.625% Series C Cumulative Redeemable Preferred Units of limited partnership interest of the Operating Partnership, or the Series C Preferred Units, were redeemed at the redemption price paid by us to the Series C Preferred stockholders. The Series C Preferred stockholders received annual dividends of $1.90625 per share paid on a quarterly basis and dividends were cumulative, subject to certain provisions.

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 DRSPP, which automatically became effective upon filing. The Company registered 3,500,000 shares of SL Green's common stock under the DRSPP. The DRSPP commenced on September 24, 2001.

During the years ended December 31, 2014, 2013, and 2012, the Company issued 608, 761, and 1,300,000 shares, respectively, of SL Green's common stock and received $63,720, $66,600, and $99.6 million of proceeds, respectively, from dividend reinvestments and/or stock purchases under the DRSPP. DRSPP shares may be issued at a discount to the market price.

Earnings per Share

SL Green's earnings per share for the years ended December 31, 2014, 2013 and 2012 are computed as follows (in thousands):



	Year Ended December 31,
Numerator	2014		2013		2012
Basic Earnings:
Income attributable to SL Green common stockholders	$	503,104	$	101,330	$	155,984
Effect of Dilutive Securities:
Redemption of units to common shares	18,467		3,023		5,597
Diluted Earnings:
Income attributable to SL Green common stockholders	$	521,571	$	104,353	$	161,581



	Year Ended December 31,
Denominator	2014	2013	2012
Basic Shares:
Weighted average common stock outstanding	95,774	92,269	89,319
Effect of Dilutive Securities:
Redemption of units to common shares	3,514	2,735	3,207
Stock-based compensation plans	408	262	347
Diluted weighted average common stock outstanding	99,696	95,266	92,873

SL Green has excluded 737,361, 964,789 and 627,000 common stock equivalents from the diluted shares outstanding for the years ended December 31, 2014, 2013 and 2012, 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 December 31, 2014 owned 97,325,200 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 December 31, 2014, limited partners other than SL Green owned 3.92%, or 3,973,016 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 years ended December 31, 2014, 2013 and 2012 are computed as follows (in thousands):



	Year Ended December 31,
Numerator	2014		2013		2012
Basic and Diluted Earnings:
Income attributable to SLGOP common unitholders	$	521,571	$	104,353	$	161,581



	Year Ended December 31,
Denominator	2014	2013	2012
Basic units:
Weighted average common units outstanding	99,288	95,004	92,526
Effect of Dilutive Securities:
Stock-based compensation plans	408	262	347
Diluted weighted average common units outstanding	99,696	95,266	92,873

The Operating Partnership has excluded 737,361 ,964,789 and 627,000 common unit equivalents from the diluted units outstanding for the years ended December 31, 2014, 2013 and 2012, 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
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-Section S99
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
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-Paragraph d
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Partners' Capital of the Operating Partnership

12 Months Ended

Dec. 31, 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 years ended December 31, 2014, 2013 and 2012 are computed as follows (in thousands):



	Year Ended December 31,
Numerator	2014		2013		2012
Basic Earnings:
Income attributable to SL Green common stockholders	$	503,104	$	101,330	$	155,984
Effect of Dilutive Securities:
Redemption of units to common shares	18,467		3,023		5,597
Diluted Earnings:
Income attributable to SL Green common stockholders	$	521,571	$	104,353	$	161,581



	Year Ended December 31,
Denominator	2014	2013	2012
Basic Shares:
Weighted average common stock outstanding	95,774	92,269	89,319
Effect of Dilutive Securities:
Redemption of units to common shares	3,514	2,735	3,207
Stock-based compensation plans	408	262	347
Diluted weighted average common stock outstanding	99,696	95,266	92,873

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 December 31, 2014, limited partners other than SL Green owned 3.92%, or 3,973,016 common units, of the Operating Partnership.

Preferred Units

Earnings per Unit

The Operating Partnership's earnings per unit for the years ended December 31, 2014, 2013 and 2012 are computed as follows (in thousands):



	Year Ended December 31,
Numerator	2014		2013		2012
Basic and Diluted Earnings:
Income attributable to SLGOP common unitholders	$	521,571	$	104,353	$	161,581



	Year Ended December 31,
Denominator	2014	2013	2012
Basic units:
Weighted average common units outstanding	99,288	95,004	92,526
Effect of Dilutive Securities:
Stock-based compensation plans	408	262	347
Diluted weighted average common units outstanding	99,696	95,266	92,873

- Definition

+ References

+ Details

Share-based Compensation

12 Months Ended

Dec. 31, 2014

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

Share-based Compensation

We have 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 December 31, 2014, 2.6 million 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 years ended December 31, 2014, 2013 and 2012.



	2014		2013		2012
Dividend yield	1.60	%	1.92	%	2.00	%
Expected life of option	3.6 years		4.1 years		3.7 years
Risk-free interest rate	1.29	%	0.96	%	0.46	%
Expected stock price volatility	33.97	%	36.12	%	37.40	%

A summary of the status of the Company's stock options as of December 31, 2014, 2013 and 2012 and changes during the years ended December 31, 2014, 2013 and 2012 are as follows:



	2014					2013					2012
	Options Outstanding			Weighted Average Exercise Price		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	1,277,200			$	63.37
Granted	102,050			119.12		828,100			87.23		361,331			75.36
Exercised	(348,156		)	72.76		(223,531		)	53.93		(382,612		)	36.65
Lapsed or cancelled	(56,202		)	90.03		(40,535		)	83.94		(54,919		)	72.99
Balance at end of year	1,462,726			$	87.98	1,765,034			$	83.24	1,201,000			$	75.05
Options exercisable at end of year	428,951			$	90.32	461,458			$	89.38	479,913			$	86.85
Weighted average fair value of options granted during the year	$	2,841,678				$	18,041,576				$	6,602,967

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 4.06 years and the remaining average contractual life of the options exercisable was 3.83 years.

During the years ended December 31, 2014, 2013, and 2012, we recognized $8.1 million, $6.5 million and $5.1 million of compensation expense, respectively, for these options. As of December 31, 2014, there was $14.1 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 December 31, 2014, 2013 and 2012 and charges during the years ended December 31, 2014, 2013 and 2012 are as follows:



	2014			2013			2012
Balance at beginning of year	2,994,197			2,804,901			2,912,456
Granted	9,550			192,563			92,729
Cancelled	(2,768		)	(3,267		)	(200,284		)
Balance at end of year	3,000,979			2,994,197			2,804,901
Vested during the year	75,043			21,074			408,800
Compensation expense recorded	$	9,658,019		$	6,713,155		$	6,930,381
Weighted average fair value of restricted stock granted during the year	$	1,141,675		$	17,386,949		$	7,023,942

The fair value of restricted stock that vested during the years ended December 31, 2014, 2013 and 2012 was $5.5 million, $1.6 million and $22.4 million, respectively. As of December 31, 2014, there was $11.7 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 years ended December 31, 2014, 2013 and 2012, $6.8 million, $4.5 million and $4.1 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 $33.2 million and $27.1 million as of December 31, 2014 and 2013, respectively. We did not grant any LTIP units in 2012. 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 December 31, 2014, there was $7.1 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 1.5 years. During the years ended December 31, 2014, 2013 and 2012, we recorded compensation expense related to bonus, time-based and performance based awards of $31.4 million, $27.3 million and $12.6 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 $15.0 million up to $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, $25.0 million of awards could be earned at any time after the beginning of the second year and an additional $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 vested 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 ($31.7 million, subject to forfeitures) was amortized into earnings through the final vesting period. We recorded compensation expense of $2.7 million, $4.5 million and $10.7 million during the years ended December 31, 2014, 2013 and 2012, 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 could 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 were entitled to share in a "performance pool" comprised of LTIP Units with a value equal to 10% of the amount by which our total return to stockholders during the three-year period exceeded a cumulative total return to stockholders of 25%, subject to the maximum of $85.0 million of LTIP Units; provided that if maximum performance was achieved, one-third of each award could be earned at any time after the beginning of the second year and an additional one-third of each award could be earned at any time after the beginning of the third year. LTIP Units earned under the 2011 Outperformance Plan are subject to continued vesting requirements, with 50% of any awards earned vested on August 31, 2014 and the remaining 50% vesting on August 31, 2015, subject to continued employment with us through such dates. Participants were not entitled to distributions with respect to LTIP Units granted under the 2011 Outperformance Plan unless and until they were earned. For LTIP Units that were earned, each participant was 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 are to 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. In September 2014, the compensation committee determined that maximum performance had been achieved for the full three-year performance period and, accordingly, 280,454 LTIP units, representing the final third of each award, were earned, subject to vesting, under the 2011 Outperformance Plan.

The cost of the 2011 Outperformance Plan ($27.0 million, subject to forfeitures) will be amortized into earnings through the final vesting period. We recorded compensation expense of $8.6 million, $8.0 million and $5.5 million during the years ended December 31, 2014, 2013 and 2012, 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. 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 two-thirds (or an additional one-third) 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 such dates. 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 cash or additional LTIP Units. Thereafter, distributions will be paid currently with respect to all earned LTIP Units, whether vested or unvested.

The cost of the 2014 Outperformance Plan ($17.1 million, subject to forfeitures), based on the portion of the 2014 Outperformance Plan granted as of December 31, 2014, will be amortized into earnings through the final vesting period. We recorded compensation expense of $0.2 million during the year ended December 31, 2014 related to 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 year ended December 31, 2014, 9,305 phantom stock units were earned and 7,701 shares of common stock were issued to our board of directors. We recorded compensation expense of $1.6 million during the year ended December 31, 2014 related to the Deferred Compensation Plan. As of December 31, 2014, there were 75,649 phantom stock units outstanding pursuant to our Non-Employee Director's Deferral Program.

Employee Stock Purchase Plan

In 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 December 31, 2014, 80,437 shares of SL Green's common stock had been issued under the ESPP.

Accumulated Other Comprehensive Loss of the Company

12 Months Ended

Dec. 31, 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 years ended December 31, 2014, 2013 and 2012 are computed as follows (in thousands):



	Year Ended December 31,
Numerator	2014		2013		2012
Basic Earnings:
Income attributable to SL Green common stockholders	$	503,104	$	101,330	$	155,984
Effect of Dilutive Securities:
Redemption of units to common shares	18,467		3,023		5,597
Diluted Earnings:
Income attributable to SL Green common stockholders	$	521,571	$	104,353	$	161,581



	Year Ended December 31,
Denominator	2014	2013	2012
Basic Shares:
Weighted average common stock outstanding	95,774	92,269	89,319
Effect of Dilutive Securities:
Redemption of units to common shares	3,514	2,735	3,207
Stock-based compensation plans	408	262	347
Diluted weighted average common stock outstanding	99,696	95,266	92,873

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 December 31, 2014, limited partners other than SL Green owned 3.92%, or 3,973,016 common units, of the Operating Partnership.

Preferred Units

Earnings per Unit

The Operating Partnership's earnings per unit for the years ended December 31, 2014, 2013 and 2012 are computed as follows (in thousands):



	Year Ended December 31,
Numerator	2014		2013		2012
Basic and Diluted Earnings:
Income attributable to SLGOP common unitholders	$	521,571	$	104,353	$	161,581



	Year Ended December 31,
Denominator	2014	2013	2012
Basic units:
Weighted average common units outstanding	99,288	95,004	92,526
Effect of Dilutive Securities:
Stock-based compensation plans	408	262	347
Diluted weighted average common units outstanding	99,696	95,266	92,873

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 December 31, 2014, 2013 and 2012 (in thousands):



	Net unrealized loss on derivative instruments(1)			SL Green’s share of joint venture net unrealized loss on derivative instruments(2)			Unrealized gain and (loss) on marketable securities			Total
Balance at December 31, 2011	$	(17,510	)	$	(17,401	)	$	6,466		$	(28,445	)
Other comprehensive loss before reclassifications	(1,124		)	(9,098		)	(4,879		)	(15,101		)
Amounts reclassified from accumulated other comprehensive income	1,800			10,436			1,723			13,959
Balance at December 31, 2012	(16,834		)	(16,063		)	3,310			(29,587		)
Other comprehensive (loss) income before reclassifications	(168		)	6,267			1,474			7,573
Amounts reclassified from accumulated other comprehensive income	1,877			4,926			—			6,803
Balance at December 31, 2013	(15,125		)	(4,870		)	4,784			(15,211		)
Other comprehensive (loss) income before reclassifications	(576		)	2,847			(2,692		)	(421		)
Amounts reclassified from accumulated other comprehensive income	6,203			1,928			521			8,652
Balance at December 31, 2014	$	(9,498	)	$	(95	)	$	2,613		$	(6,980	)

____________________________________________________________________

(1)

Amount reclassified from accumulated other comprehensive income (loss) is included in interest expense in the respective consolidated statements of income. As of December 31, 2014, 2013 and 2012, the deferred net losses from these terminated hedges, which is included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument, was $11.8 million , $13.8 million and $15.0 million, respectively.


(2)	Amount reclassified from accumulated other comprehensive income (loss) is 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

12 Months Ended

Dec. 31, 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 years ended December 31, 2014, 2013 and 2012 are computed as follows (in thousands):



	Year Ended December 31,
Numerator	2014		2013		2012
Basic Earnings:
Income attributable to SL Green common stockholders	$	503,104	$	101,330	$	155,984
Effect of Dilutive Securities:
Redemption of units to common shares	18,467		3,023		5,597
Diluted Earnings:
Income attributable to SL Green common stockholders	$	521,571	$	104,353	$	161,581



	Year Ended December 31,
Denominator	2014	2013	2012
Basic Shares:
Weighted average common stock outstanding	95,774	92,269	89,319
Effect of Dilutive Securities:
Redemption of units to common shares	3,514	2,735	3,207
Stock-based compensation plans	408	262	347
Diluted weighted average common stock outstanding	99,696	95,266	92,873

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 December 31, 2014, limited partners other than SL Green owned 3.92%, or 3,973,016 common units, of the Operating Partnership.

Preferred Units

Earnings per Unit

The Operating Partnership's earnings per unit for the years ended December 31, 2014, 2013 and 2012 are computed as follows (in thousands):



	Year Ended December 31,
Numerator	2014		2013		2012
Basic and Diluted Earnings:
Income attributable to SLGOP common unitholders	$	521,571	$	104,353	$	161,581



	Year Ended December 31,
Denominator	2014	2013	2012
Basic units:
Weighted average common units outstanding	99,288	95,004	92,526
Effect of Dilutive Securities:
Stock-based compensation plans	408	262	347
Diluted weighted average common units outstanding	99,696	95,266	92,873

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 December 31, 2014, 2013 and 2012 (in thousands):



	Net unrealized loss on derivative instruments(1)			SLGOP’s share of joint venture net unrealized loss on derivative instruments(2)			Unrealized gain and (loss) on marketable securities			Total
Balance at December 31, 2011	$	(18,391	)	$	(17,814	)	$	7,086		$	(29,119	)
Other comprehensive loss before reclassifications	(912		)	(9,637		)	(5,442		)	(15,991		)
Amounts reclassified from accumulated other comprehensive income (loss)	1,865			10,811			1,785			$	14,461
Balance at December 31, 2012	(17,438		)	(16,640		)	3,429			(30,649		)
Other comprehensive (loss) income before reclassifications	(68		)	6,553			1,497			7,982
Amounts reclassified from accumulated other comprehensive income	1,933			5,072			—			7,005
Balance at December 31, 2013	(15,573		)	(5,015		)	4,926			(15,662		)
Other comprehensive (loss) income before reclassifications	(703		)	2,916			(2,777		)	(564		)
Amounts reclassified from accumulated other comprehensive income	6,431			1,999			540			8,970
Balance at December 31, 2014	$	(9,845	)	$	(100	)	$	2,689		$	(7,256	)

____________________________________________________________________

(1)

Amount reclassified from accumulated other comprehensive income (loss) is included in interest expense in the respective consolidated statements of income. As of December 31, 2014, 2013 and 2012, the deferred net losses from these terminated hedges, which is included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument, was $12.2 million, $14.2 million and $15.5 million, respectively.


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

- Definition

+ References

+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

We are required to disclose fair value information with regard to our financial instruments, whether or not recognized in the consolidated balance sheets, for which it is practical to estimate fair value. The 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. Our 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 December 31, 2014 and 2013 (in thousands):



	December 31, 2014
	Total		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	39,429	$	4,332	$	35,097	$	—
Interest rate swap agreements (included in other assets)	$	2,174	$	—	$	2,174	$	—
Liabilities:
Interest rate swap agreements (included in accrued interest payable and other liabilities)	$	14,728	$	—	$	14,728	$	—



	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, among other things, estimated revenue and expense growth rates, discount rates and capitalization rates, which are classified as Level 3 inputs.

The marketable securities classified as Level 1 were derived from quoted prices in active markets. The valuation technique used to measure the fair value of the marketable securities classified as Level 2 were valued based on quoted market prices or model driven valuations using the significant inputs derived from or corroborated by observable market data. The marketable securities classified as Level 3 are classified as such because the fair values are derived from discounted cashflow models using inputs that we are unable to corroborate with observable market data. Marketable securities in an unrealized loss position are not considered to be other than temporarily impaired. We do not intend to sell these securities and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost bases.

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 December 31, 2014 and 2013 (in thousands):



	December 31, 2014				December 31, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value

Debt and preferred equity investments	$	1,408,804	(1)		$	1,304,839	(1)

Fixed rate debt	$	6,140,786	$	6,565,236	$	5,599,960	$	5,886,980
Variable rate debt	2,291,943		2,315,952		1,319,948		1,327,422
	$	8,432,729	$	8,881,188	$	6,919,908	$	7,214,402

____________________________________________________________________


(1)	At December 31, 2014, debt and preferred equity investments had an estimated fair value ranging between $1.5 billion and $1.8 billion. 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 December 31, 2014 and 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

12 Months Ended

Dec. 31, 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 sheets 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 hedge 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 December 31, 2014 based on Level 2 information. 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 (amounts in thousands).



	Notional Value		Strike Rate		Effective Date	Expiration Date	Balance Sheet Location	Fair Value
Interest Rate Cap - Sold	$	504,000	4.750	%	May 2014	May 2016	Other Assets	$	4
Interest Rate Cap	504,000		4.750	%	May 2014	May 2016	Other Liabilities	(4		)
Interest Rate Cap	500,000		4.750	%	October 2014	May 2016	Other Assets	4
Interest Rate Cap - Sold	500,000		4.750	%	November 2014	May 2016	Other Liabilities	(4		)
Interest Rate Cap	446,000		4.750	%	October 2014	May 2016	Other Assets	3
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	200,000		0.938	%	October 2014	December 2017	Other Assets	871
Interest Rate Swap	150,000		0.940	%	October 2014	December 2017	Other Assets	647
Interest Rate Swap	150,000		0.940	%	October 2014	December 2017	Other Assets	645
Interest Rate Swap	144,000		2.236	%	December 2012	December 2017	Other Liabilities	(4,757		)
Interest Rate Swap	86,400		1.948	%	December 2012	December 2017	Other Liabilities	(2,124		)
Interest Rate Swap	72,000		2.310	%	December 2012	December 2017	Other Liabilities	(2,533		)
Interest Rate Swap	72,000		1.345	%	December 2012	December 2017	Other Liabilities	(506		)
Interest Rate Swap	72,000		2.310	%	December 2012	December 2017	Other Liabilities	(2,534		)
Interest Rate Swap	57,600		1.990	%	December 2012	December 2017	Other Liabilities	(1,487		)
Interest Rate Swap	30,000		2.295	%	July 2010	June 2016	Other Liabilities	(774		)
Interest Rate Swap	8,500		0.740	%	February 2012	February 2015	Other Liabilities	(5		)
								$	(12,554	)

During the year ended December 31, 2014, 2013 and 2012, we recorded a loss on the changes in the fair value of $61,000, $16,000 and $770,000, respectively, which is included in interest expense on the consolidated statements of income. Included in 2012 was $0.7 million of change in fair value of a terminated currency hedge which was marked to market.

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 December 31, 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 $13.4 million. As of December 31, 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 $13.4 million at December 31, 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 $9.4 million of the current balance held in accumulated other comprehensive loss will be reclassified into interest expense and $1.2 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 years ended December 31, 2014, 2013 and 2012, respectively (in thousands):



	Amount of (Loss) or Gain Recognized in Other Comprehensive Loss (Effective Portion)									Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss 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)
	Year Ended December 31,										Year Ended December 31,						Location of Gain Recognized in Income on Derivative	Year Ended December 31,
Derivative	2014			2013			2012				2014		2013		2012			2014		2013		2012
Interest Rate Swaps/Caps	$	(703	)	$	(68	)	$	(912	)	Interest expense	$	6,431	$	1,933	$	1,865	Interest expense	$	4	$	3	$	3
Share of unconsolidated joint ventures' derivative instruments	2,916			6,553			(9,637		)	Equity in net income from unconsolidated joint ventures	1,999		5,072		10,811		Equity in net income from unconsolidated joint ventures	—		—		—
	$	2,213		$	6,485		$	(10,549	)		$	8,430	$	7,005	$	12,676		$	4	$	3	$	3

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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+ Details

Rental Income

12 Months Ended

Dec. 31, 2014

Leases [Abstract]

Rental Income

The Operating Partnership is the lessor and the sublessor to tenants under operating leases with expiration dates ranging from January 1, 2015 to 2044. The minimum rental amounts due under the leases are generally either subject to scheduled fixed increases or adjustments. The leases generally also require that the tenants reimburse us for increases in certain operating costs and real estate taxes above their base year costs. Approximate future minimum rents to be received over the next five years and thereafter for non-cancelable operating leases in effect at December 31, 2014 for the consolidated properties, including consolidated joint venture properties, and our share of unconsolidated joint venture properties are as follows (in thousands):



	Consolidated Properties		Unconsolidated Properties
2015	$	975,025	$	157,438
2016	964,428		157,514
2017	941,014		152,226
2018	879,727		146,605
2019	799,744		134,451
Thereafter	5,774,406		699,568
	$	10,334,344	$	1,447,802

Benefit Plans

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Benefit Plans

The building employees are covered by multi-employer defined benefit pension plans and post-retirement health and welfare plans. We participate in the Building Service 32BJ, or Union, Pension Plan and Health Plan. The Pension Plan is a multi-employer, non-contributory defined benefit pension plan that was established under the terms of collective bargaining agreements between the Service Employees International Union, Local 32BJ, the Realty Advisory Board on Labor Relations, Inc. and certain other employees. This Pension Plan is administered by a joint board of trustees consisting of union trustees and employer trustees and operates under employer identification number 13-1879376. The Pension Plan year runs from July 1 to June 30. Employers contribute to the Pension Plan at a fixed rate on behalf of each covered employee. Separate actuarial information regarding such pension plans is not made available to the contributing employers by the union administrators or trustees, since the plans do not maintain separate records for each reporting unit. However, on September 28, 2012, September 28, 2013, and September 30, 2014, the actuary certified that for the plan years beginning July 1, 2012, July 1, 2013, and July 1, 2014, respectively, the Pension Plan was in critical status under the Pension Protection Act of 2006. The Pension Plan trustees adopted a rehabilitation plan consistent with this requirement. No surcharges have been paid to the Pension Plan as of December 31, 2014. For the years ended December 31, 2014, 2013 and 2012, the Pension Plan received contributions from employers totaling $224.5 million, $221.9 million and $212.7 million, respectively.

The Health Plan was established under the terms of collective bargaining agreements between the Union, the Realty Advisory Board on Labor Relations, Inc. and certain other employers. The Health Plan provides health and other benefits to eligible participants employed in the building service industry who are covered under collective bargaining agreements, or other written agreements, with the Union. The Health Plan is administered by a Board of Trustees with equal representation by the employers and the Union and operates under employer identification number 13-2928869. The Health Plan receives contributions in accordance with collective bargaining agreements or participation agreements. Generally, these agreements provide that the employers contribute to the Health Plan at a fixed rate on behalf of each covered employee. For the years ended, December 31, 2013 and 2012, the Health Plan received contributions from employers totaling $923.5 million and $893.3 million, respectively. For the year ended December 31, 2014, information related to total contributions received by the Health Plan was not available at the time of filing. Our contributions to the Health Plan represent less than 5.0% of total contributions to the plan.

Contributions we made to the multi-employer plans for the years ended December 31, 2014, 2013 and 2012 are included in the table below (in thousands):



Benefit Plan	2014		2013		2012
Pension Plan	$	2,807	$	2,765	$	2,506
Health Plan	8,470		8,522		8,020
Other plans	5,838		6,006		6,025
Total plan contributions	$	17,115	$	17,293	$	16,551

401(K) Plan

In August 1997, we implemented a 401(K) Savings/Retirement Plan, or the 401(K) Plan, to cover eligible employees of ours, and any designated affiliate. The 401(K) Plan permits eligible employees to defer up to 15% of their annual compensation, subject to certain limitations imposed by the Code. The employees' elective deferrals are immediately vested and non-forfeitable upon contribution to the 401(K) Plan. During 2000, we amended our 401(K) Plan to include a matching contribution, subject to ERISA limitations, equal to 50% of the first 4% of annual compensation deferred by an employee. During 2003, we amended our 401(K) Plan to provide for discretionary matching contributions only. For 2014, 2013 and 2012, a matching contribution equal to 50% of the first 6% of annual compensation was made. For the years ended December 31, 2014, 2013 and 2012, we made matching contributions of $550,000, $550,000 and $561,000, respectively.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal Proceedings

As of December 31, 2014, the Company and the Operating Partnership were not involved in any material litigation nor, to management's knowledge, was any material litigation threatened against us or our portfolio other than routine litigation arising in the ordinary course of business or litigation that is adequately covered by insurance.

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.

Employment Agreements

We have entered into employment agreements with certain executives, which expire between January 2016 and January 2018. The minimum cash-based compensation, including base salary and guaranteed bonus payments, associated with these employment agreements total $4.6 million for 2015. In addition these employment agreements provide for deferred compensation awards based on our stock price and which were valued at $1.3 million on the grant date. The value of these awards may change based on fluctuations in our stock price.

Insurance

We maintain “all-risk” property and rental value coverage (including coverage regarding the perils of flood, earthquake and terrorism) within three property insurance portfolios and liability insurance. The first property portfolio maintains a blanket limit of $950.0 million per occurrence, including terrorism, for the majority of the New York City properties in our portfolio and expires December 31, 2015. The second portfolio maintains a limit of $700.0 million per occurrence, including terrorism, for several New York City properties and the majority of the Suburban properties and expires December 31, 2015. Each of these policies includes $100.0 million of flood coverage, with a lower sublimit for locations in high hazard flood zones. A third blanket property policy covers most of our residential assets and maintains a limit of $380 million per occurrence, including terrorism, for our residential properties and expires January 31, 2016. We maintain two liability policies which cover all our properties and provide limits of $201.0 million per occurrence and in the aggregate per location. The liability policies expire on October 31, 2015 and January 31, 2016 and cover our commercial and residential properties, respectively. Additional coverage may be purchased on a stand-alone basis for certain assets.

In October 2006, we formed a wholly-owned taxable REIT subsidiary, Belmont Insurance Company, or Belmont, to act as a captive insurance company and as one of the elements of our overall insurance program. Belmont is a subsidiary of ours. Belmont was formed in an effort to, among other reasons, stabilize to some extent the fluctuations of insurance market conditions. Belmont is licensed in New York to write Terrorism, NBCR (nuclear, biological, chemical, and radiological), General Liability, Environmental Liability and D&O coverage.

The Terrorism Risk Insurance Act, or TRIA, which was enacted in November 2002, was renewed December 31, 2005 and again on December 31, 2007. Congress extended TRIA, now called TRIPRA (Terrorism Risk Insurance Program Reauthorization and Extension Act of 2007) until December 31, 2014. TRIPRA was not renewed by Congress and expired on December 31, 2014. However, on January 12, 2015, TRIPRA was reauthorized until December 31, 2020 (Terrorism Insurance Program Reauthorization and Extension Act of 2015).The law extends the federal Terrorism Insurance Program that requires insurance companies to offer terrorism coverage and provides for compensation for insured losses resulting from acts of certified terrorism, subject to the current program trigger of $100.0 million, which will increase by $20 million per annum, commencing December 31, 2015. Our debt instruments, consisting of mortgage loans secured by our properties (which are generally non-recourse to us), mezzanine loans, ground leases, our 2012 credit facility, senior unsecured notes and other corporate obligations, contain customary covenants requiring us to maintain insurance. Although we believe that we currently maintain sufficient insurance coverage to satisfy these obligations, there is no assurance that in the future we will be able to procure coverage at a reasonable cost. In such instances, there can be no assurance that the lenders or ground lessors under these instruments will not take the position that a total or partial exclusion from “all-risk” insurance coverage for losses due to terrorist acts is a breach of these debt and ground lease instruments allowing the lenders or ground lessors to declare an event of default and accelerate repayment of debt or recapture of ground lease positions. In addition, if lenders prevail in asserting that we are required to maintain full coverage for these risks, it could result in substantially higher insurance premiums.

We own Belmont and the accounts of Belmont are part of our consolidated financial statements. If Belmont experiences a loss and is required to pay under its insurance policy, we would ultimately record the loss to the extent of Belmont’s required payment. Therefore, insurance coverage provided by Belmont should not be considered as the equivalent of third-party insurance, but rather as a modified form of self-insurance.

We monitor all properties that are subject to triple net leases to ensure that tenants are providing adequate coverage. Certain joint ventures may be covered under policies separate from our policies, at coverage limits which we deem to be adequate. We continually monitor these policies. Although we consider our insurance coverage to be appropriate, in the event of a major catastrophe, we may not have sufficient coverage to replace certain properties.

Belmont had loss reserves of $6.1 million and $7.0 million as of December 31, 2014 and 2013, respectively.

Capital and Ground Leases Arrangements

In November 2013, we renewed and extended the maturity date of the ground lease at 420 Lexington Avenue from December 31, 2029 through December 31, 2050, with two options for further extension through December 2085. Ground lease rent payments will be $10.9 million annually through December 2019, $11.2 million annually through December 2029 and then beginning in January 2030 through the remaining lease term, a minimum annual rent of $12.3 million, subject to a one-time adjustment based on 6% of the fair value of the land.

In October 2012, we, together with Stonehenge Partners, acquired a leasehold position at 1080 Amsterdam Avenue. The joint venture prepaid $13.0 million of ground lease rent, which will be applied against rental payments over the term of the lease. The lease will expire on July 31, 2111 or earlier in accordance with the terms of the lease agreement. Land was estimated to be 40% of the fair market value of the property. The portion of the lease attributed to land was classified as an operating lease and the remainder as a capital lease which had a cost basis of $27.4 million and accumulated amortization of $0.4 million as of December 31, 2014.

The property located at 711 Third Avenue operates under an operating sub-lease, which expires in 2083. The ground rent was reset in July 2011. Following the reset, we are responsible for ground rent payments of $5.25 million annually through July 2016 and then $5.5 million annually thereafter on the 50% portion of the fee that we do not own.

The property located at 461 Fifth Avenue operates under a ground lease ($2.1 million of ground rent annually) with a term expiration date of 2027 and with two options to renew for an additional 21 years each, followed by a third option for 15 years. We also have an option to purchase the ground lease for a fixed price on a specific date.

The property located at 625 Madison Avenue operates under a ground lease ($4.6 million of ground rent annually) with a term expiration date of 2022 and with two options to renew for an additional 23 years.

The property located at 1185 Avenue of the Americas operates under a ground lease ($6.9 million of ground rent annually) with a term expiration of 2043 and with an option to renew for an additional 23 years.

The following is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of December 31, 2014 (in thousands):



	Capital lease			Non-cancellable operating leases
2015	$	145		$	30,491
2016	170			30,612
2017	291			30,845
2018	291			30,845
2019	315			30,862
Thereafter	56,569			720,698
Total minimum lease payments	57,781			$	874,353
Less amount representing interest	(36,959		)
Capital lease obligations	$	20,822

Segment Information

12 Months Ended

Dec. 31, 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 and redevelopment, financing, construction and maintenance in the New York City 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 are generated from tenant rents and 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 years ended December 31, 2014, 2013 and 2012, and selected asset information as of December 31, 2014 and 2013, regarding our operating segments are as follows (in thousands):



	Real Estate Segment			Debt and Preferred Equity Segment		Total Company
Total revenues
Years ended:
December 31, 2014	$	1,341,163		$	178,815	$	1,519,978
December 31, 2013	1,177,222			193,843		1,371,065
December 31, 2012	1,170,897			119,155		1,290,052
Income from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate and purchase price fair value adjustment
Years ended:
December 31, 2014	$	22,178		$	150,852	$	173,030
December 31, 2013	(49,793		)	159,193		109,400
December 31, 2012	41,366			92,414		133,780
Total assets
As of:
December 31, 2014	$	15,671,662		$	1,424,925	$	17,096,587
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 the portfolio is 100% leveraged by our MRA facility and 2012 revolving 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 $92.5 million, $86.2 million and $82.8 million for the years ended December 31, 2014, 2013 and 2012, 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 years ended December 31, 2014, 2013 and 2012 (in thousands):



	Year ended December 31,
	2014		2013			2012
Income from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate and purchase price fair value adjustment	$	173,030	$	109,400		$	133,780
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	123,253		3,601			37,053
Purchase price fair value adjustment	67,446		(2,305		)	—
Income from continuing operations	363,729		110,696			170,833
Net income from discontinued operations	19,075		25,687			32,240
Gain on sale of discontinued operations	163,059		14,900			6,627
Net income	$	545,863	$	151,283		$	209,700

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2014

SL Green Realty Corp

Condensed Income Statements, Captions [Line Items]

Quarterly Financial Data (unaudited)

Quarterly Financial Data of the Company (unaudited)

Summarized quarterly financial data for the years ended December 31, 2014 and 2013, which is reflective of the reclassification of the properties sold or held for sale during 2014 and 2013 as discontinued operations (see Note 4, "Properties Held for Sale and Dispositions"), was as follows (in thousands, except for per share amounts):



2014 Quarter Ended	December 31			September 30			June 30			March 31
Total revenues	$	386,627		$	390,274		$	380,631		$	362,446
Income from continuing before equity in net gain on sale of interest in unconsolidated joint venture/real estate, purchase price fair value adjustment, (loss) gain on early extinguishment of debt, loss on sale of investment in marketable securities, net of noncontrolling interests	$	40,379		$	46,863		$	47,035		$	39,416
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	673			16,496			1,444			104,640
Purchase price fair value adjustment	—			(4,000		)	71,446			—
(Loss) gain on early extinguishment of debt	(6,865		)	(24,475		)	(1,028		)	3
Loss on sale of investment in marketable securities	3,895			—			—			—
Net income from discontinued operations	3,626			4,035			5,645			5,769
Gain on sale of discontinued operations	18,817			29,507			114,735			—
Net income attributable to SL Green	60,525			68,426			239,277			149,828
Preferred stock redemption costs	—			—			—			—
Perpetual preferred stock dividends	(3,738		)	(3,738		)	(3,738		)	(3,738		)
Net income attributable to SL Green common stockholders	$	56,787		$	64,688		$	235,539		$	146,090
Net income attributable to common stockholders per common share—basic	$	0.59		$	0.68		$	2.47		$	1.54
Net income attributable to common stockholders per common share—diluted	$	0.59		$	0.68		$	2.46		$	1.53



2013 Quarter Ended	December 31			September 30			June 30			March 31
Total revenues	$	350,451		$	338,782		$	340,888		$	340,944
Income from continuing before equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate, gain (loss) on early extinguishment of debt, gain on sale of investment in marketable securities, net of noncontrolling interests	$	27,478		$	19,895		$	27,398		$	37,300
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/ real estate	7,538			(354		)	(3,583		)	—
Purchase price fair value adjustment	—			—			(2,305		)	—
Gain (loss) on early extinguishment of debt	5			—			(10		)	(18,513		)
Gain on sale of investment in marketable securities	—			—			(8		)	(57		)
Net income from discontinued operations	5,836			7,435			5,943			6,473
Gain on sale of discontinued operations	—			13,787			—			1,113
Net income attributable to SL Green	40,857			40,763			27,435			26,316
Preferred stock redemption costs	—			—			(12,160		)	—
Perpetual preferred stock dividends	(3,737		)	(3,738		)	(6,999		)	(7,407		)
Net income attributable to SL Green common stockholders	$	37,120		$	37,025		$	8,276		$	18,909
Net income attributable to common stockholders per common share—basic	$	0.39		$	0.40		$	0.09		$	0.21
Net income attributable to common stockholders per common share—diluted	$	0.39		$	0.40		$	0.09		$	0.21

SL Green Operating Partnership

Condensed Income Statements, Captions [Line Items]

Quarterly Financial Data (unaudited)

Quarterly Financial Data of the Operating Partnership (unaudited)



2014 Quarter Ended	December 31			September 30			June 30			March 31
Total revenues	$	386,627		$	390,274		$	380,631		$	362,446
Income from continuing before equity in net gain on sale of interest in unconsolidated joint venture/real estate, purchase price fair value adjustment, (loss) gain on early extinguishment of debt, loss on sale of investment in marketable securities, net of noncontrolling interests	$	42,837		$	49,499		$	55,680		$	44,144
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	673			16,496			1,444			104,640
Purchase price fair value adjustment	—			(4,000		)	71,446			—
(Loss) gain on early extinguishment of debt	(6,865		)	(24,475		)	(1,028		)	3
Loss on sale of investment in marketable securities	3,895			—			—			—
Net income from discontinued operations	3,626			4,035			5,645			5,769
Gain on sale of discontinued operations	18,817			29,507			114,735			—
Net income attributable to SLGOP	62,983			71,062			247,922			154,556
Preferred unit redemption costs	—			—			—			—
Perpetual preferred units distributions	(3,738		)	(3,738		)	(3,738		)	(3,738		)
Net income attributable to SLGOP common unitholders	$	59,245		$	67,324		$	244,184		$	150,818
Net income attributable to common unitholders per common unit—basic	$	0.59		$	0.68		$	2.47		$	1.54
Net income attributable to common unitholders per common unit—diluted	$	0.59		$	0.68		$	2.46		$	1.53



2013 Quarter Ended	December 31			September 30			June 30			March 31
Total revenues	$	350,451		$	338,782		$	340,888		$	340,944
Income from continuing before equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate, gain (loss) on early extinguishment of debt, gain on sale of investment in marketable securities, net of noncontrolling interests	$	28,592		$	21,005		$	27,642		$	37,855
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/ real estate	7,538			(354		)	(3,583		)	—
Purchase price fair value adjustment	—			—			(2,305		)	—
Gain (loss) on early extinguishment of debt	5			—			(10		)	(18,513		)
Gain on sale of investment in marketable securities	—			—			(8		)	(57		)
Net income from discontinued operations	5,836			7,435			5,943			6,473
Gain on sale of discontinued operations	—			13,787			—			1,113
Net income attributable to SLGOP	41,971			41,873			27,679			26,871
Preferred unit redemption costs	—			—			(12,160		)	—
Perpetual preferred distributions	(3,737		)	(3,738		)	(6,999		)	(7,407		)
Net income attributable to SLGOP common unitholders	$	38,234		$	38,135		$	8,520		$	19,464
Net income attributable to common unitholders per common unit—basic	$	0.39		$	0.40		$	0.09		$	0.21
Net income attributable to common unitholders per common unit—diluted	$	0.39		$	0.40		$	0.09		$	0.21

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In January 2015, we closed on the modification and extension of the $1.2 billion revolving credit facility portion of our 2012 credit facility, which decreased the interest-rate margin and facility fee applicable to the revolving credit facility portion of the facility by 20 basis points and 5 basis points, respectively, and extend the maturity date of the revolving credit facility portion of the facility to March 29, 2019 with an as-of-right extension through March 29, 2020. In January 2015, we sold the remaining 895,956 shares of our common stock under our ATM Program for aggregate net proceeds of $113.4 million. The net proceeds from this offering were contributed to the Operating Partnership in exchange for 895,956 units of limited partnership interest of the Operating Partnership.

Schedule II-Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2014

Valuation and Qualifying Accounts [Abstract]

Schedule II-Valuation and Qualifying Accounts

Schedule II—Valuation and Qualifying Accounts

December 31, 2014

(in thousands)



Column A	Column B		Column C		Column D			Column E
Description	Balance at Beginning of Year		Additions Charged Against Operations		Uncollectible Accounts Written-off/Recovery			Balance at End of Year
Year Ended December 31, 2014
Tenant and other receivables—allowance	$	17,325	$	13,533	$	(12,790	)	$	18,068
Deferred rent receivable—allowance	$	30,333	$	4,140	$	(7,062	)	$	27,411
Year Ended December 31, 2013
Tenant and other receivables—allowance	$	14,341	$	13,425	$	(10,441	)	$	17,325
Deferred rent receivable—allowance	$	29,580	$	7,563	$	(6,810	)	$	30,333
Year Ended December 31, 2012
Tenant receivables—allowance	$	11,326	$	17,232	$	(14,217	)	$	14,341
Deferred rent receivable—allowance	$	29,156	$	7,153	$	(6,729	)	$	29,580

Schedule III-Real Estate And Accumulated Depreciation

12 Months Ended

Dec. 31, 2014

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III-Real Estate And Accumulated Depreciation

SL Green Realty Corp. and SL Green Operating Partnership, L.P.

Schedule III—Real Estate And Accumulated Depreciation

December 31, 2014

(dollars in thousands)



Column A	Column B	Column C Initial Cost		Column D Cost Capitalized Subsequent To Acquisition				Column E Gross Amount at Which Carried at Close of Period			Column F	Column G	Column H	Column I
Description	Encumbrances	Land	Building & Improvements	Land		Building & Improvements		Land	Building & Improvements	Total	Accumulated Depreciation	Date of Construction	Date Acquired	Life on Which Depreciation is Computed
420 Lexington Ave(1)	300,000	—	107,832	—		221,171		—	329,003	329,003	107,652	1927	3/1998	Various
711 Third Avenue(1)(7)	120,000	19,844	42,499	—		40,907		19,844	83,406	103,250	30,035	1955	5/1998	Various
555 W. 57th Street(1)	—	18,846	78,704	—		47,933		18,846	126,637	145,483	48,659	1971	1/1999	Various
317 Madison Ave(1)	—	21,205	85,559	—		35,572		21,205	121,131	142,336	53,779	1920	6/2001	Various
220 East 42nd Street(1)	275,000	50,373	203,727	635		57,876		51,008	261,603	312,611	81,045	1929	2/2003	Various
461 Fifth Avenue(1)	—	—	62,695	—		9,626		—	72,321	72,321	21,838	1988	10/2003	Various
750 Third Avenue(1)	—	51,093	205,972	—		35,951		51,093	241,923	293,016	70,362	1958	7/2004	Various
625 Madison Ave(1)	—	—	246,673	—		35,576		—	282,249	282,249	77,982	1956	10/2004	Various
485 Lexington Avenue(1)	450,000	77,517	326,825	765		89,417		78,282	416,242	494,524	127,566	1956	12/2004	Various
609 Fifth Avenue(1)	—	36,677	145,954	—		7,814		36,677	153,768	190,445	32,939	1925	6/2006	Various
120 West 45th Street(1)	170,000	60,766	250,922	—		22,227		60,766	273,149	333,915	58,601	1998	1/2007	Various
810 Seventh Avenue(1)	—	114,077	476,386	—		54,441		114,077	530,827	644,904	114,957	1970	1/2007	Various
919 Third Avenue(1)(2)	500,000	223,529	1,033,198	35,410		22,564		258,939	1,055,762	1,314,701	216,685	1970	1/2007	Various
1185 Avenue of the Americas(1)	—	—	728,213	—		35,260		—	763,473	763,473	175,368	1969	1/2007	Various
1350 Avenue of the Americas(1)	—	91,038	380,744	—		29,132		91,038	409,876	500,914	90,325	1966	1/2007	Various
1100 King Street— 1-7 International Drive(3)	—	49,392	104,376	2,473		19,385		51,865	123,761	175,626	31,003	1983/1986	1/2007	Various
520 White Plains Road(3)	—	6,324	26,096	—		4,785		6,324	30,881	37,205	7,755	1979	1/2007	Various
115-117 Stevens Avenue(3)	—	5,933	23,826	—		6,334		5,933	30,160	36,093	7,967	1984	1/2007	Various
100 Summit Lake Drive(3)	—	10,526	43,109	—		7,213		10,526	50,322	60,848	11,863	1988	1/2007	Various
200 Summit Lake Drive(3)	—	11,183	47,906	—		7,217		11,183	55,123	66,306	12,600	1990	1/2007	Various
500 Summit Lake Drive(3)	—	9,777	39,048	—		5,643		9,777	44,691	54,468	9,495	1986	1/2007	Various
140 Grand Street(3)	—	6,865	28,264	—		4,606		6,865	32,870	39,735	7,734	1991	1/2007	Various
360 Hamilton Avenue(3)	—	29,497	118,250	—		12,851		29,497	131,101	160,598	29,031	2000	1/2007	Various
1-6 Landmark Square(4)	81,269	50,947	195,167	—		30,206		50,947	225,373	276,320	48,469	1973-1984	1/2007	Various
7 Landmark Square(4)	—	2,088	7,748	(367	)	(133	)	1,721	7,615	9,336	600	2007	1/2007	Various
680 Washington Boulevard(2)(4)	—	11,696	45,364	—		4,561		11,696	49,925	61,621	11,118	1989	1/2007	Various
750 Washington Boulevard(2)(4)	—	16,916	68,849	—		7,433		16,916	76,282	93,198	16,313	1989	1/2007	Various
1010 Washington Boulevard(4)	—	7,747	30,423	—		5,058		7,747	35,481	43,228	7,695	1988	1/2007	Various
500 West Putnam Avenue(4)	22,968	11,210	44,782	—		4,734		11,210	49,516	60,726	10,272	1973	1/2007	Various
150 Grand Street(3)	—	1,371	5,446	—		11,225		1,371	16,671	18,042	1,770	1962	1/2007	Various
400 Summit Lake Drive(3)	—	38,889	—	285		1		39,174	1	39,175	1	---	1/2007	N/A
331 Madison Avenue(1)	—	14,763	65,241	—		2,681		14,763	67,922	82,685	13,923	1923	4/2007	Various
1055 Washington Boulevard(4)	—	13,516	53,228	—		3,492		13,516	56,720	70,236	12,515	1987	6/2007	Various



1 Madison Avenue(1)	565,742		172,641		654,394		905			15,297			173,546		669,691		843,237		124,795		1960	8/2007	Various
125 Chubb Way(5)	—		5,884		25,958		—			23,832			5,884		49,790		55,674		5,263		2008	1/2008	Various
100 Church Street(1)	228,612		32,494		79,996		2,500			84,235			34,994		164,231		199,225		27,245		1959	1/2010	Various
125 Park Avenue(1)	—		120,900		189,714		—			42,165			120,900		231,879		352,779		34,869		1923	10/2010	Various
885 Third Avenue(1)	267,650		131,766		—		110,771			—			242,537		—		242,537		—		---	12/2010	N/A
Williamsburg(6)	—		3,677		14,708		2,523			(4,550		)	6,200		10,158		16,358		1,082		2010	12/2010	Various
1515 Broadway(1)	900,000		462,700		707,938		1,145			68,978			463,845		776,916		1,240,761		88,018		1972	4/2011	Various
110 East 42nd Street(1)	—		34,000		46,411		2,354			17,179			36,354		63,590		99,944		9,194		1921	5/2011	Various
51 East 42nd Street(1)	—		44,095		33,470		5			5,607			44,100		39,077		83,177		3,278		1913	11/2011	Various
400 East 57th Street(1)(8)	68,896		39,780		69,895		—			10,786			39,780		80,681		120,461		5,536		1931	1/2012	Various
400 East 58th Street(1)(8)	29,527		17,549		30,916		—			4,673			17,549		35,589		53,138		2,402		1929	1/2012	Various
752 Madison Avenue(1)(8)	—		282,415		7,131		—			10			282,415		7,141		289,556		644		1996/2012	1/2012	Various
762 Madison Avenue(1)(8)	8,045		6,153		10,461		—			90			6,153		10,551		16,704		805		1910	1/2012	Various
19-21 East 65th Street(1)(8)	—		—		7,389		—			159			—		7,548		7,548		559		1928-1940	1/2012	Various
304 Park Avenue(1)	—		54,189		75,619		300			6,336			54,489		81,955		136,444		7,465		1930	6/2012	Various
635 Sixth Avenue(1)	—		24,180		37,158		163			38,104			24,343		75,262		99,605		—		1902	9/2012	Various
641 Sixth Avenue(1)	—		45,668		67,316		308			793			45,976		68,109		114,085		5,076		1902	9/2012	Various
1080 Amsterdam(1)(9)	—		—		27,445		—			20,182			—		47,627		47,627		590		1932	10/2012	Various
131-137 Spring Street(1)	—		27,021		105,342		154			3,384			27,175		108,726		135,901		5,606		1891	12/2012	Various
248-252 Bedford Avenue(6)(10)	29,000		10,865		44,035		(2,194		)	(6,784		)	8,671		37,251		45,922		1,490		2012	3/2013	Various
16 Court Street(6)	—		19,217		63,210		—			4,954			19,217		68,164		87,381		4,604		1927-1928	4/2013	Various
315 West 33rd Street (1)	—		195,834		164,429		—			3,180			195,834		167,609		363,443		5,396		2000-2001	11/2013	Various
Fifth Avenue Retail Assemblage(1)	—		135,513		10,487		—			3,356			135,513		13,843		149,356		1,364		1909/1920/1921	11/2013	Various
388-390 Greenwich Street(1)	1,450,000		558,731		1,037,729		—			68,780			558,731		1,106,509		1,665,240		18,308		1986/1990	5/2014	Various
719 Seventh Avenue(1)(11)	—		14,402		26,866		—			—			14,402		26,866		41,268		334		1927	7/2014	Various
115 Spring Street(1)	—		15,938		37,309		—			—			15,938		37,309		53,247		—		1900	7/2014	Various
635 Madison(1)	—		153,745		—		—			—			153,745		—		153,745		—		---	9/2014	N/A
102 Greene Street(1)			11,288		20,963		—			—			11,288		20,963		32,251		131		1910	11/2014	Various
Other(12)	—		1,130		—		1,003			11,803			2,133		11,803		13,936		3,194
Total	$	5,466,709	$	3,685,380	$	8,919,315	$	159,138		$	1,305,308		$	3,844,518	$	10,224,623	$	14,069,141	$	1,905,165

______________________________________________________________________


(1)	Property located in New York, New York.


(2)	We own a 51.0% interest in this property.


(3)	Property located in Westchester County, New York.


(4)	Property located in Connecticut.


(5)	Property located in New Jersey.


(6)	Property located in Brooklyn, New York.


(7)	We own a 50.0% interest in this property.


(8)	We own an 80.0% interest in this property.


(9)	We own an 87.5% interest in this property.


(10)	We own a 90.0% interest in this property.


(11)	We own a 75.0% interest in this property.


(12)	Other includes tenant improvements at eEmerge, capitalized interest and corporate improvements.

Schedule III—Real Estate And Accumulated Depreciation

December 31, 2014

The changes in real estate for the years ended December 31, 2014, 2013 and 2012 are as follows (in thousands):



	2014			2013			2012
Balance at beginning of year	$	12,333,780		$	11,662,953		$	11,147,151
Property acquisitions	2,428,259			702,717			649,445
Improvements	379,295			199,141			146,410
Retirements/disposals/deconsolidation	(1,072,193		)	(231,031		)	(280,053		)
Balance at end of year	$	14,069,141		$	12,333,780		$	11,662,953

The aggregate cost of land, buildings and improvements, before depreciation, for Federal income tax purposes at December 31, 2014 was $10.4 billion (unaudited).

The changes in accumulated depreciation, exclusive of amounts relating to equipment, autos, and furniture and fixtures, for the years ended December 31, 2014, 2013 and 2012 are as follows (in thousands):



	2014			2013			2012
Balance at beginning of year	$	1,646,240		$	1,393,323		$	1,136,603
Depreciation for year	307,823			286,776			288,560
Retirements/disposals/deconsolidation	(48,898		)	(33,859		)	(31,840		)
Balance at end of year	$	1,905,165		$	1,646,240		$	1,393,323

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Principles of Consolidation

Investment in Commercial Real Estate Properties

Properties are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows:



Category		Term
Building (fee ownership)		40 years
Building improvements		shorter of remaining life of the building or useful life
Building (leasehold interest)		lesser of 40 years or remaining term of the lease
Property under capital lease		remaining lease term
Furniture and fixtures		four to seven years
Tenant improvements		shorter of remaining term of the lease or useful life

Results of operations of properties acquired are included in the consolidated statements of income from the date of acquisition.

Cash and Cash Equivalents

We consider all highly liquid investments with maturity of three months or less when purchased to be cash equivalents.

Fair Value Measurements

See Note 17, "Fair Value Measurements."

Investment in Marketable Securities

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

Restricted Cash

Deferred Lease Costs

Deferred Financing Costs

Revenue Recognition

Allowance for Doubtful Accounts

Reserve for Possible Credit Losses

Rent Expense

Income Taxes

Underwriting Commissions and Costs

Underwriting commissions and costs incurred in connection with our stock offerings are reflected as a reduction of additional paid-in-capital.

Exchangeable Debt Instruments

Stock-Based Employee Compensation Plans

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

Derivative Instruments

Earnings per Share of the Company

Earnings per Unit of the Operating Partnership

Use of Estimates

Concentration of Credit Risk

Concentrations of Credit Risk

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

Organization and Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of commercial office properties



		Consolidated			Unconsolidated		Total
Location	Type	Number of Properties		Approximate Square Feet (unaudited)	Number of Properties	Approximate Square Feet (unaudited)	Number of Properties	Approximate Square Feet (unaudited)	Weighted Average Occupancy(1) (unaudited)
Commercial:
Manhattan	Office	23		18,429,045	7	3,476,115	30	21,905,160	95.3	%
	Retail	9	(2)	403,735	7	279,628	16	683,363	91.0	%
	Development/Redevelopment	9	(3)	1,973,862	5	1,952,782	14	3,926,644	32.6	%
	Fee Interest	2		783,530	—	—	2	783,530	100.0	%
		43		21,590,172	19	5,708,525	62	27,298,697	86.3	%
Suburban	Office	27		4,365,400	4	1,222,100	31	5,587,500	82.4	%
	Retail	1		52,000	—	—	1	52,000	100.0	%
	Development/Redevelopment	1		85,000	2	65,641	3	150,641	54.2	%
		29		4,502,400	6	1,287,741	35	5,790,141	81.8	%
Total commercial properties		72		26,092,572	25	6,996,266	97	33,088,838	85.5	%
Residential:
Manhattan	Residential	3	(2)	735,587	—	—	3	735,587	95.6	%
Suburban	Residential	1		66,611	—	—	1	66,611	89.6	%
Total residential properties		4		802,198	—	—	4	802,198	95.2	%
Total portfolio		76		26,894,770	25	6,996,266	101	33,891,036	85.8	%

____________________________________________________________________


(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 December 31, 2014, we owned a building that was comprised of approximately 270,132 square feet (unaudited) of retail space and approximately 222,855 square feet (unaudited) 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 one property which was held for sale as of December 31, 2014 and sold in January 2015.

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Schedule of estimated useful lives

Properties are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows:



Category		Term
Building (fee ownership)		40 years
Building improvements		shorter of remaining life of the building or useful life
Building (leasehold interest)		lesser of 40 years or remaining term of the lease
Property under capital lease		remaining lease term
Furniture and fixtures		four to seven years
Tenant improvements		shorter of remaining term of the lease or useful life

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



	December 31,
	2014			2013
Identified intangible assets (included in other assets):
Gross amount	$	664,297		$	746,704
Accumulated amortization	(383,236		)	(343,339		)
Net	$	281,061		$	403,365
Identified intangible liabilities (included in deferred revenue):
Gross amount	$	655,755		$	671,380
Accumulated amortization	(483,948		)	(429,138		)
Net	$	171,807		$	242,242

Schedule of estimated annual amortization of acquired below-market leases, net of acquired above-market leases



2015	$	1,978
2016	(592		)
2017	(1,303		)
2018	(3,135		)
2019	(3,994		)

Schedule of estimated annual amortization of all other identifiable assets



2015	$	9,150
2016	5,919
2017	4,442
2018	3,005
2019	2,467

Schedule of marketable securities

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



	December 31,
	2014		2013
Equity marketable securities	$	4,332	$	4,307
Commercial mortgage-backed securities	35,097		24,419
Rake bonds	—		3,323
Total marketable securities available-for-sale	$	39,429	$	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)

12 Months Ended

Dec. 31, 2014

Property Acquisitions

Schedule of Pro Forma Information



	Year Ended December 31,
(in thousands, except per share amounts)	2014		2013
Actual revenues since acquisition	$	1,519,978
Actual net income since acquisition	545,863
Pro forma revenues	1,562,206		1,481,021
Pro forma income from continuing operations⁽¹⁾	298,679		205,437
Pro forma basic earnings per share	4.60		2.10
Pro forma diluted earnings per share	4.58		2.09
Pro forma basic earnings per unit	4.60		2.10
Pro forma diluted earnings per unit	4.58		2.09

____________________________________________________________________

(1)

2014 Acquisitions

Property Acquisitions

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these acquisitions (in thousands):



	102 Greene Street⁽¹⁾		635 Madison Avenue⁽¹⁾⁽⁴⁾		752 Madison Avenue⁽¹⁾⁽²⁾		719 Seventh Avenue⁽¹⁾⁽⁵⁾		115 Spring Street⁽¹⁾		388-390 Greenwich Street ⁽¹⁾⁽³⁾
Acquisition Date	October 2014		September 2014		August 2014		July 2014		July 2014		May 2014
Ownership Type	Fee Interest		Fee Interest		Leasehold Interest		Fee Interest		Fee Interest		Fee Interest
Property Type	Retail		Land		Retail		Development		Retail		Office

Purchase Price Allocation:
Land	$	11,288	$	153,745	$	282,415	$	14,402	$	15,938	$	558,777
Building and building leasehold	20,962		—		—		26,747		37,187		1,037,729
Above market lease value	—		—		—		—		—		—
Acquired in-place leases	—		—		—		—		—		—
Other assets, net of other liabilities	—		—		—		—		—		6,495
Assets acquired	32,250		153,745		282,415		41,149		53,125		1,603,001
Mark-to-market assumed debt	—		—		—		—		—		—
Below market lease value	—		—		—		—		—		—
Derivatives	—		—		—		—		—		18,001
Liabilities assumed	—		—		—		—		—		18,001
Purchase price	$	32,250	$	153,745	$	282,415	$	41,149	$	53,125	$	1,585,000
Net consideration funded by us at closing, excluding consideration financed by debt	$	32,250	$	153,745	$	282,415	$	41,149	$	53,125	$	208,614
Equity and/or debt investment held	$	—	$	—	$	—	$	—	$	—	$	148,025
Debt assumed	$	—	$	—	$	—	$	—	$	—	$	1,162,379

____________________________________________________________________


(1)	We are currently in the process of analyzing the purchase price allocation and, as such, we have not allocated any value to intangible assets such as above- and below-market lease or in-place leases.


(2)	In January 2012, a separate joint venture in which an SL Green entity holds an 80% interest acquired the ground tenancy position.

(3)


(4)	This property was acquired inclusive of the issuance of $4.0 million aggregate liquidation preference of Series J Preferred Units of limited partnership interest of the Operating Partnership.

(5)

2013 Acquisitions

Property Acquisitions

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these acquisitions (in thousands):



	315 West 33rd Street⁽¹⁾		Assemblage of Retail Development Properties on Fifth Avenue⁽¹⁾		16 Court⁽²⁾		248-252 Bedford Avenue⁽³⁾
Acquisition Date	November 2013		November 2013		April 2013		March 2013
Ownership Type	Fee Interest		Fee Interest		Fee Interest		Fee Interest
Property Type	Residential		Development		Office		Residential

Purchase Price Allocation:
Land	$	195,834	$	135,513	$	19,217	$	10,865
Building and building leasehold	164,429		10,487		63,210		44,035
Above market lease value	7,084		—		5,122		—
Acquired in-place leases	26,125		—		9,422		—
Other assets, net of other liabilities	1,142		—		3,380		—
Assets acquired	394,614		146,000		100,351		54,900
Mark-to-market assumed debt	—		—		294		—
Below market lease value	7,839		—		3,885		—
Liabilities assumed	7,839		—		4,179		—
Purchase price	$	386,775	$	146,000	$	96,172	$	54,900
Net consideration funded by us at closing, excluding consideration financed by debt	$	386,775	$	146,000	$	4,000	$	21,782
Equity and/or debt investment held	$	—	$	—	$	13,835	$	—
Debt assumed	$	—	$	—	$	84,642	$	—

____________________________________________________________________


(1)	During the year ended December 31, 2014, we finalized the purchase price allocation based on a third party appraisal and additional facts and circumstances that existed at the acquisition dates. These adjustments did not have a material impact to our consolidated statement of income for the year ended December 31, 2014.

(2)

(3)

2012 Acquisitions

Property Acquisitions

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these acquisitions (in thousands):



	985-987 Third Avenue⁽¹⁾		131-137 Spring Street		635-641 Sixth Avenue		304 Park Avenue South⁽²⁾		Stonehenge Properties⁽³⁾
Acquisition Date	December 2012		December 2012		September 2012		June 2012		January 2012
Ownership Type	Fee Interest		Fee Interest		Fee Interest		Fee Interest		Fee Interest/Leasehold Interest
Property Type	Development		Retail		Development		Office		Residential/Retail

Purchase Price Allocation:
Land	$	5,400	$	27,021	$	69,848	$	54,189	$	65,533
Building and building leasehold	12,600		105,342		104,474		75,619		128,457
Above market lease value	—		179		—		2,824		594
Acquired in-place leases	—		7,046		7,727		8,265		9,573
Other assets, net of other liabilities	—		—		—		—		2,190
Assets acquired	18,000		139,588		182,049		140,897		206,347
Fair value adjustment to mortgage note payable	—		—		—		—		—
Below market lease value	—		17,288		9,049		5,897		13,239
Liabilities assumed	—		17,288		9,049		5,897		13,239
Purchase price	$	18,000	$	122,300	$	173,000	$	135,000	$	193,108
Net consideration funded by us at closing, excluding consideration financed by debt	$	18,000	$	122,300	$	173,000	$	135,000	$	78,121
Equity and/or debt investment held	$	—	$	—	$	—	$	—	$	—
Debt assumed	$	—	$	—	$	—	$	—	$	—

____________________________________________________________________


(1)	This property was subsequently sold in July 2014. See Note 4, "Properties Held for Sale and Dispositions."


(2)	This property was acquired with $102.0 million in cash and $33.0 million in units of limited partnership interest of the Operating Partnership.

(3)

Properties Held for Sale and Dispositions (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Summary of properties sold

The following table summarizes the properties sold during the years ended December 31, 2014, 2013, and 2012:



Property	Disposition Date	Property Type	Approximate Usable Square Feet (unaudited)	Sales Price (in millions)		Gain (Loss) on Sale⁽¹⁾ (in millions)
2 Herald Square	November 2014	Land	354,400	$	365.0	$	18.8
985-987 Third Avenue	July 2014	Development	13,678	68.7		29.8
673 First Avenue	May 2014	Office	422,000	145.0		117.6
300 Main Street	September 2013	Office	130,000	13.5		(2.2		)
333 West 34th Street	August 2013	Office	345,400	220.3		13.8
44 West 55th Street	February 2013	Retail	8,557	6.3		1.1
292 Madison Avenue	February 2012	Land	203,800	85.0		6.6

____________________________________________________________________

(1)

Summary of income from discontinued operations

The following table summarizes net income from discontinued operations for the years ended December 31, 2014, 2013 and 2012, respectively (in thousands).



	Year Ended December 31,
	2014		2013		2012
Revenues
Rental revenue	$	51,090	$	94,558	$	97,254
Escalation and reimbursement revenues	4,646		14,856		16,232
Other income	23		554		8,295
Total revenues	55,759		109,968		121,781
Operating expenses	7,772		20,568		23,166
Real estate taxes	7,156		16,521		16,190
Ground rent	3,001		7,975		6,362
Interest expense, net of interest income	12,652		19,782		22,298
Depreciable real estate reserves	—		2,150		—
Transaction related costs, net of recoveries	89		2		383
Depreciation and amortization	5,581		16,443		20,250
Amortization of deferred financing costs	433		840		892
Total expenses	36,684		84,281		89,541
Net income from discontinued operations	$	19,075	$	25,687	$	32,240

- 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)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Summary of debt investments

As of December 31, 2014 and 2013, we held the following debt investments with an aggregate weighted average current yield of 10.33% at December 31, 2014 (in thousands):



Loan Type	December 31, 2014 Future Funding Obligations		December 31, 2014 Senior Financing		December 31, 2014 Carrying Value, Net of Discounts and Deferred Origination Fees⁽¹⁾		December 31, 2013 Carrying Value, Net of Discounts and Deferred Origination Fees⁽¹⁾		Initial Maturity Date
Fixed Rate Investments:
Jr. Mortgage Participation	$	—	$	398,500	$	11,934	$	11,856	March 2015
Jr. Mortgage Participation /Mezzanine Loan	—		205,000		70,688		68,319		February 2016
Other⁽²⁾	—		—		45,611		44,742		Various⁽²⁾
Mezzanine Loan⁽³⁾	—		177,000		14,068		15,012		May 2016
Jr. Mortgage Participation	—		133,000		49,000		49,000		June 2016
Mezzanine Loan	—		165,000		71,656		71,312		November 2016
Jr. Mortgage Participation/Mezzanine Loan⁽⁴⁾	—		1,109,000		98,934		26,884		March 2017
Other⁽⁴⁾	—		—		65,770		54,099		March 2017
Mezzanine Loan⁽⁵⁾	16,424		521,750		24,608		20,954		June 2017
Mezzanine Loan	—		539,000		49,629		—		July 2018
Mortgage Loan⁽⁶⁾	—		—		26,209		—		February 2019



Mortgage Loan	—		—		637		—			August 2019
Mezzanine Loan	—		15,000		3,500		3,500			September 2021
Mezzanine Loan⁽⁷⁾	—		90,000		19,930		19,926			November 2023
Mezzanine Loan	—		95,000		30,000		—			January 2025
Total fixed rate	$	16,424	$	3,448,250	$	582,174	$	385,604
Floating Rate Investments:
Mezzanine Loan	7,785		50,000		37,322		—			April 2015
Mortgage/Mezzanine Loan	—		—		109,527		—			June 2015
Mezzanine Loan	—		110,000		49,614		49,110			September 2015
Mezzanine Loan	7,249		113,633		42,750		27,662			December 2015
Mezzanine Loan	—		775,000		73,402		72,823			March 2016
Mezzanine Loan⁽⁸⁾	—		160,000		22,573		22,526			June 2016
Mezzanine Loan	—		115,000		24,910		25,590			July 2016
Mezzanine Loan	3,641		172,105		33,726		25,725			November 2016
Mezzanine Loan	—		360,000		99,023		—			November 2016
Mezzanine Loan	333		33,833		11,835		11,798			December 2016
Mezzanine Loan	9,053		91,727		20,651		—			January 2017
Mortgage/Mezzanine Loan	2,847		110,767		38,524		—			July 2017
Mortgage/Mezzanine Loan	—		—		22,803		—			July 2017
Mortgage/Mezzanine Loan	—		—		16,848		—			September 2017
Mezzanine Loan	—		60,000		14,859		—			November 2017
Mortgage/Mezzanine Loan⁽⁹⁾	795		—		14,845		—			December 2017
Jr. Mortgage Participation/Mezzanine Loan	—		55,000		20,533		20,553			July 2018
Mortgage/Mezzanine Loan	—		—		18,083		—			February 2019
Mezzanine Loan	—		38,000		21,807		—			March 2019
Mortgage Loan⁽¹⁰⁾	—		—		—		30,000
Jr. Mortgage Participation⁽¹¹⁾	—		—		—		24,046
Jr. Mortgage Participation/Mezzanine Loan⁽¹¹⁾	—		—		—		131,724
Mezzanine Loan⁽¹²⁾	—		—		—		59,892
Jr. Mortgage Participation⁽¹²⁾	—		—		—		10,873
Mezzanine Loan⁽¹²⁾	—		—		—		38,549
Total floating rate	$	31,703	$	2,245,065	$	693,635	$	550,871
Total	$	48,127	$	5,693,315	$	1,275,809	$	936,475
Loan loss reserve					—		(1,000		)
					$	1,275,809	$	935,475

____________________________________________________________________


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

(2)


(3)	This loan was repaid in February 2015.

(4)


(5)	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.


(6)	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 non-accrual status.


(7)	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.


(8)	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.


(9)	Carrying value is net of $5.1 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.


(10)	This loan was repaid in May 2014.


(11)	This loan was repaid in July 2014.


(12)	This loan was repaid in August 2014.

Summary of preferred equity investments

As of December 31, 2014 and 2013, we held the following preferred equity investments with an aggregate weighted average current yield of 10.89% at December 31, 2014 (in thousands):



Type	December 31, 2014 Senior Financing		December 31, 2014 Carrying Value, Net of Discounts and Deferred Origination Fees⁽¹⁾		December 31, 2013 Carrying Value, Net of Discounts and Deferred Origination Fees⁽¹⁾		Initial Mandatory Redemption
Preferred equity⁽²⁾	$	550,000	$	123,041	$	115,198	July 2015
Preferred equity	70,000		9,954		9,940		November 2017
Preferred equity⁽³⁾	—		—		25,896
Preferred equity⁽²⁾⁽⁴⁾	—		—		218,330
	$	620,000	$	132,995	$	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.


(4)	This preferred equity investment was redeemed in November 2014.

Rollforward of total allowance for loan loss reserves

The following table is a rollforward of our total loan loss reserves at December 31, 2014, 2013 and 2012 (in thousands):



	December 31,
	2014			2013			2012
Balance at beginning of year	$	1,000		$	7,000		$	50,175
Expensed	—			—			3,000
Recoveries	—			—			(2,436		)
Charge-offs and reclassifications	(1,000		)	(6,000		)	(43,739		)
Balance at end of period	$	—		$	1,000		$	7,000

Summary of impaired loans, which may include non-accrual loans

The following table presents impaired loans, which may include non-accrual loans, as of December 31, 2013 (in thousands):



	December 31, 2013
	Unpaid Principal Balance		Recorded Investment		Allowance Allocated
With no related allowance recorded:
Commercial real estate	$	—	$	—	$	—
With an allowance recorded:
Commercial real estate⁽¹⁾	10,750		10,750		1,000
Total	$	10,750	$	10,750	$	1,000

____________________________________________________________________


(1)	This loan was repaid during the year ended December 31, 2014.

Investment in Unconsolidated Joint Ventures (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2014:



Property	Partner	Ownership Interest	Economic Interest	Approximate Square Feet (unaudited)	Acquisition Date	Acquisition Price⁽¹⁾ (in thousands)
100 Park Avenue	Prudential	49.90%	49.90%	834,000	January 2000	$	95,800
717 Fifth Avenue⁽²⁾	Sutton/Private Investor	10.92%	10.92%	119,500	September 2006	251,900
800 Third Avenue	Private Investors	42.95%	42.95%	526,000	December 2006	285,000
1745 Broadway⁽³⁾	Ivanhoe Cambridge	56.88%	56.88%	674,000	April 2007	520,000
Jericho Plaza	Onyx/Credit Suisse	20.26%	20.26%	640,000	April 2007	210,000
The Meadows	Onyx	50.00%	50.00%	582,100	September 2007	111,500
600 Lexington Avenue	CPPIB	55.00%	55.00%	303,515	May 2010	193,000
11 West 34th Street	Private Investor\Sutton	30.00%	30.00%	17,150	December 2010	10,800
7 Renaissance	Cappelli	50.00%	50.00%	65,641	December 2010	4,000
3 Columbus Circle⁽⁴⁾	Moinian	48.90%	48.90%	741,500	January 2011	500,000
280 Park Avenue⁽⁵⁾	Vornado	50.00%	50.00%	1,219,158	March 2011	400,000
1552-1560 Broadway⁽⁶⁾	Sutton	50.00%	50.00%	35,897	August 2011	136,550
724 Fifth Avenue	Sutton	50.00%	50.00%	65,040	January 2012	223,000
10 East 53rd Street	CPPIB	55.00%	55.00%	354,300	February 2012	252,500
33 Beekman⁽⁷⁾	Harel/Naftali	45.90%	45.90%	—	August 2012	31,000
521 Fifth Avenue⁽⁸⁾	Plaza	50.50%	50.50%	460,000	November 2012	315,000



21 East 66th Street⁽⁹⁾	Private Investors	32.28%	32.28%	16,736	December 2012	75,000
315 West 36th Street	Private Investors	35.50%	35.50%	147,619	December 2012	45,000
650 Fifth Avenue⁽¹⁰⁾	Sutton	50.00%	50.00%	32,324	November 2013	—
121 Greene Street	Sutton	50.00%	50.00%	7,131	September 2014	27,400
175-225 Third Street⁽¹¹⁾	Kushner Companies/LIVWRK	95.00%	95.00%	—	October 2014	74,600
55 West 46th Street⁽¹²⁾	Prudential	25.00%	25.00%	347,000	November 2014	295,000

____________________________________________________________________


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


(2)	In June 2012, we recognized $67.9 million of additional cash income, equivalent to profit, due to the distribution of refinancing proceeds and a gain on sale of $3.0 million, on the sale of 50.0% of our remaining interest.

(3)


(4)	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.


(5)	In October 2014, we, along with Vornado, acquired equally the interest of minority shareholders for $11.0 million.


(6)	The purchase price represents only the purchase of the 1552 Broadway interest which comprised approximately 13,045 square feet (unaudited). 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.


(7)	The property is currently being developed into a 30 story dormitory building, which will be conveyed to Pace University upon its completion under a long-term ground lease arrangement.

(8)


(9)	In October 2014, the joint venture sold one of the residential units at the property. We recognized a gain of $0.7 million on the sale. As of December 31, 2014, we hold a 32.28% interest in three retail and two residential units at the property and a 16.14% interest in three residential units at the property.

(10)


(11)	In October 2014, we, along with our joint venture partners, acquired a development site at 175-225 Third Street in Brooklyn, New York. The property is being managed by our joint venture partners. We did not consolidate the property as a result of multiple partners having substantive participating rights.

(12)

Schedule of joint ventures and property sold

The following table summarizes the investments in unconsolidated joint ventures sold during the years ended December 31, 2014, 2013, and 2012:



Property	Ownership Percentage		Disposition Date	Type of Sale	Implied Sales Price ⁽¹⁾ (in millions)		Gain on Sale⁽²⁾ (in millions)
180 Broadway⁽³⁾	25.50	%	September 2014	Property	$	222.5	$	16.5
747 Madison Avenue⁽⁴⁾	33.33	%	May 2014	Ownership Interest	160.0		—
West Coast Office portfolio⁽⁵⁾	42.02	%	March 2014	Ownership Interest	756.0		85.6
21-25 West 34th Street⁽⁶⁾	49.90	%	January 2014	Ownership Interest	114.9		20.9
27-29 West 34th Street⁽⁷⁾	50.00	%	December 2013	Ownership Interest	70.1		7.6
West Coast Office Portfolio⁽⁵⁾	42.04	%	Various dates in 2013	Property	224.3		2.1
One Court Square⁽⁸⁾	30.00	%	July 2012	Property	481.1		1.0
379 West Broadway⁽⁹⁾	45.00	%	April 2012	Property	48.5		6.5
141 Fifth Avenue⁽¹⁰⁾	50.00	%	March 2012	Property	46.0		7.3

____________________________________________________________________


(1)	Represents implied gross valuation for the joint venture or sales price of the property.


(2)	Represents the Company's share of the gain.


(3)	In connection with the sale of the property, we also recognized a promote of $3.3 million.

(4)

(5)


(6)	We sold our ownership interest in the joint venture. We, along with our joint venture partner, retained approximately 91,300 square feet (unaudited) of development rights at the property.

(7)


(8)	We, along with our joint venture partner, sold the property, which included the assumption by the purchaser of $315.0 million of existing debt.


(9)	We, along with our joint venture partner, sold the property, inclusive of the fee position, which was acquired for $13.5 million.


(10)	We, along with our joint venture partner, sold the property. The gain on the sale of this investment is net of a $1.5 million employee compensation award, accrued in connection with the realization of this investment gain as a bonus to certain employees that were instrumental in realizing the gain on this sale.

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

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



Property	Maturity Date	Interest Rate⁽¹⁾		December 31, 2014		December 31, 2013
Fixed Rate Debt:
7 Renaissance	December 2015	10.00	%	$	2,147	$	1,276
11 West 34th Street	January 2016	4.82	%	16,905		17,205
280 Park Avenue	June 2016	6.57	%	700,171		706,886
1745 Broadway	January 2017	5.68	%	340,000		340,000
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
521 Fifth Avenue⁽²⁾	November 2019	2.48	%	170,000		—
717 Fifth Avenue⁽³⁾	July 2022	4.45	%	300,000		300,000
21 East 66th Street	April 2023	3.60	%	12,000		12,000
717 Fifth Avenue⁽³⁾	July 2024	9.00	%	314,381		304,000
388-390 Greenwich Street⁽⁴⁾	—	—		—		996,082
100 Park Avenue⁽⁵⁾	—	—		—		209,786
21 West 34th Street⁽⁶⁾	—	—		—		100,000
1604-1610 Broadway⁽⁷⁾	—	—		—		27,000
Total fixed rate debt				$	2,065,264	$	3,223,895
Floating Rate Debt:
The Meadows	September 2015	7.75	%	67,350		67,350
3 Columbus Circle⁽⁸⁾	April 2016	2.33	%	230,974		239,233
1552 Broadway⁽⁹⁾	April 2016	4.25	%	184,210		158,690
Other loan payable	June 2016	1.05	%	30,000		30,000
650 Fifth Avenue⁽¹⁰⁾	October 2016	3.66	%	65,000		—
175-225 Third Street	December 2016	4.25	%	40,000		—
10 East 53rd Street	February 2017	2.65	%	125,000		125,000
724 Fifth Avenue⁽¹¹⁾	April 2017	2.57	%	275,000		120,000
33 Beekman⁽¹²⁾	August 2017	2.90	%	52,283		18,362
600 Lexington Avenue	October 2017	2.23	%	116,740		120,616
55 West 46th Street⁽¹³⁾	October 2017	2.45	%	150,000		—
121 Greene Street	November 2019	1.67	%	15,000		—
100 Park Avenue⁽⁵⁾	February 2021	2.36	%	360,000		—
21 East 66th Street	June 2033	2.88	%	1,883		1,959
521 Fifth Avenue⁽²⁾	—	—		—		170,000
388-390 Greenwich Street⁽⁴⁾	—	—		—		142,297
747 Madison Avenue	—	—		—		33,125
West Coast Office portfolio⁽¹⁴⁾	—	—		—		526,290
180/182 Broadway⁽¹⁵⁾	—	—		—		89,893
Total floating rate debt				$	1,713,440	$	1,842,815
Total joint venture mortgages and other loans payable				$	3,778,704	$	5,066,710

____________________________________________________________________


(1)	Effective weighted average interest rate for the year ended December 31, 2014, taking into account interest rate hedges in effect during the period.


(2)	This loan became a 3.73% fixed rate mortgage upon the effectivity of the interest rate swap in November 2014.


(3)	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.


(4)	In May 2014, we acquired the interest of our joint venture partner, 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.


(5)	In February 2014, the joint venture refinanced the previous mortgage and incurred a net loss on early extinguishment of debt of $3.2 million.


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


(7)	This loan was in default since November 2009 due to the non-payment of debt service. In January 2014, the joint venture surrendered its ground lease position to the lender. During the year ended December 31, 2014, we recognized $7.7 million of incentive income, which is included in other income on the consolidated statements of income.

(8)


(9)	These loans are comprised of a $150.0 million mortgage loan and a $41.5 million mezzanine loan. As of December 31, 2014, $3.9 million of the mortgage loan and $3.4 million of the mezzanine loan remained unfunded.


(10)	In October 2014, the joint venture closed on a $97.0 million leasehold mortgage, of which $32.0 million remained unfunded as of December 31, 2014.


(11)	In April 2014, the joint venture refinanced the previous mortgage 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, of which $18.4 million 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)	This loan has a committed amount of $190.0 million, of which $40.0 million remained unfunded as of December 31, 2014.


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


(15)	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 December 31, 2014 and 2013, are as follows (in thousands):



	December 31,
	2014		2013
Assets
Commercial real estate property, net	$	5,275,632	$	6,846,021
Other assets	810,567		827,282
Total assets	$	6,086,199	$	7,673,303
Liabilities and members' equity
Mortgages and other loans payable	$	3,778,704	$	5,066,710
Other liabilities	485,572		596,960
Members' equity	1,821,923		2,009,633
Total liabilities and members' equity	$	6,086,199	$	7,673,303
Company's investments in unconsolidated joint ventures	$	1,172,020	$	1,113,218

Schedule of combined statements of income for the unconsolidated joint ventures



	December 31,
	2014		2013
Assets
Commercial real estate property, net	$	5,275,632	$	6,846,021
Other assets	810,567		827,282
Total assets	$	6,086,199	$	7,673,303
Liabilities and members' equity
Mortgages and other loans payable	$	3,778,704	$	5,066,710
Other liabilities	485,572		596,960
Members' equity	1,821,923		2,009,633
Total liabilities and members' equity	$	6,086,199	$	7,673,303
Company's investments in unconsolidated joint ventures	$	1,172,020	$	1,113,218

The combined statements of income for the unconsolidated joint ventures, from acquisition date through the years ended December 31, 2014, 2013 and 2012 are as follows (in thousands):

Deferred Costs (Tables)

12 Months Ended

Dec. 31, 2014

Deferred Costs [Abstract]

Schedule of components of deferred costs

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



	December 31,
	2014			2013
Deferred leasing	$	385,555		$	326,379
Deferred financing	193,776			157,088
	579,331			483,467
Less accumulated amortization	(251,369		)	(216,409		)
Deferred costs, net	$	327,962		$	267,058

Mortgages and Other Loans Payable (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2014 and 2013, respectively, were as follows (amounts in thousands):



Property	Maturity Date	Interest Rate⁽¹⁾		December 31, 2014		December 31, 2013
Fixed Rate Debt:
711 Third Avenue	June 2015	4.99	%	$	120,000	$	120,000
500 West Putnam Avenue	January 2016	5.52	%	22,968		23,529
Landmark Square	December 2016	4.00	%	81,269		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	%	8,045		8,211
885 Third Avenue	July 2017	6.26	%	267,650		267,650
1745 Broadway⁽²⁾	June 2018	4.81	%	16,000		—
388-390 Greenwich Street⁽³⁾	June 2018	2.99	%	1,004,000		—
One Madison Avenue	May 2020	5.91	%	565,742		587,336



100 Church	July 2022	4.68	%	228,612		230,000
919 Third Avenue⁽⁴⁾	June 2023	5.12	%	500,000		500,000
400 East 57th Street	February 2024	4.13	%	68,896		70,000
400 East 58th Street	February 2024	4.13	%	29,527		30,000
420 Lexington Avenue⁽⁵⁾	October 2024	5.95	%	300,000		182,641
1515 Broadway⁽⁶⁾	March 2025	3.93	%	900,000		900,000
Series J Preferred Units⁽⁷⁾	April 2051	3.75	%	4,000		—
Other loan payable⁽⁸⁾				—		50,000
609 Partners, LLC⁽⁹⁾				—		23
125 Park Avenue⁽¹⁰⁾				—		146,250
2 Herald Square⁽¹¹⁾				—		191,250
625 Madison Avenue⁽¹²⁾				—		120,830
Total fixed rate debt				$	4,736,709	$	4,130,629
Floating Rate Debt:
Master repurchase agreement⁽¹³⁾	December 2015	3.38	%	100,000		91,000
180 Maiden Lane⁽¹⁴⁾	November 2016	2.35	%	253,942		262,706
388-390 Greenwich Street⁽³⁾	June 2018	1.91	%	446,000		—
248-252 Bedford Avenue⁽¹⁵⁾	June 2019	1.93	%	29,000		22,000
220 East 42nd Street	October 2020	1.75	%	275,000		275,000
16 Court Street⁽¹⁶⁾				—		79,243
Total floating rate debt				$	1,103,942	$	729,949
Total mortgages and other loans payable				$	5,840,651	$	4,860,578

____________________________________________________________________


(1)	Effective weighted average interest rate for the year ended December 31, 2014, taking into account interest rate hedges in effect during the period.


(2)	In connection with our acquisition of Witkoff's interest in the unconsolidated joint venture which holds 1745 Broadway, we have assumed this partner loan.

(3)


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


(5)	In September 2014, we refinanced the previous mortgage and incurred a loss on early extinguishment of debt of $24.5 million. The new loan bears a fixed interest rate of 3.99% per annum.


(6)	In February 2013, we refinanced the mortgage and incurred a loss on early extinguishment of debt of $18.5 million.

(7)


(8)	In November 2014, we repaid the loan.


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


(10)	In October 2014, we repaid the loan at maturity.


(11)	In November 2014, we sold the property and defeased the debt.


(12)	In December 2014, we prepaid the loan and incurred a loss on early extinguishment of debt of $6.9 million.


(13)	The Master Repurchase Agreement, or MRA, has a maximum facility capacity of $300.0 million. In December 2014, we extended the maturity date of the MRA to December 5, 2015.

(14)


(15)	In June 2014, we refinanced the mortgage and incurred a loss on early extinguishment of debt of $0.5 million. In April 2014, we repaid the mortgage and incurred a loss on early extinguishment of d

Corporate Indebtedness (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2014 and 2013, respectively, by scheduled maturity date (dollars in thousands):



Issuance	December 31, 2014 Unpaid Principal Balance		December 31, 2014 Accreted Balance		December 31, 2013 Accreted Balance		Coupon Rate⁽¹⁾		Effective Rate		Term (in Years)	Maturity Date
March 31, 2006⁽²⁾	$	255,308	$	255,250	$	255,206	6.00	%	6.00	%	10	March 31, 2016
October 12, 2010⁽³⁾	345,000		309,069		297,837		3.00	%	3.00	%	7	October 15, 2017
August 5, 2011⁽⁴⁾	250,000		249,744		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	$	1,274,078	$	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		Unsecured Term Loan		Trust Preferred Securities		Senior Unsecured Notes		Total		Joint Venture Debt
2015	$	39,353	(1)	$	220,000		$	—	$	—	$	—	$	7	$	259,360	$	44,700
2016	54,344		(1)	338,465		(1)	—		—		—		255,308		648,117		640,176
2017	61,063			895,329			—		—		—		355,008		1,311,400		572,003
2018	64,462			16,000			385,000		—		—		250,000		715,462		28
2019	71,133			28,317			—		833,000		—		—		932,450		94,890
Thereafter	203,098			3,849,087			—		—		100,000		450,000		4,602,185		266,191
	$	493,453	(1)	$	5,347,198	(1)	$	385,000	$	833,000	$	100,000	$	1,310,323	$	8,468,974	$	1,617,988

____________________________________________________________________


(1)	Scheduled amortization and principal repayments include the mortgage at 180 Maiden Lane, which is included in liabilities related to assets held for sale. In January 2015, the property was sold and the debt was repaid.

Schedule of consolidated interest expense, excluding capitalized interest

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



	Year Ended December 31,
	2014			2013			2012
Interest expense	$	319,898		$	312,897		$	311,235
Interest income	(2,498		)	(2,003		)	(1,554		)
Interest expense, net	$	317,400		$	310,894		$	309,681
Interest capitalized	$	22,750		$	11,475		$	12,218

- 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)

12 Months Ended

Dec. 31, 2014

Schedule of amounts due from/to related parties

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



	December 31,
	2014		2013
Due from joint ventures	$	1,254	$	2,376
Other	10,481		6,154
Related party receivables	$	11,735	$	8,530

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

12 Months Ended

Dec. 31, 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 (in thousands) as of December 31, 2014 and 2013:



	December 31,
	2014			2013
Balance at beginning of period	$	265,476		$	212,907
Distributions	(7,849		)	(4,146		)
Issuance of common units	56,469			24,750
Redemption of common units	(31,653		)	(17,287		)
Net income	18,467			3,023
Accumulated other comprehensive income allocation	175			611
Fair value adjustment	168,439			45,618
Balance at end of period	$	469,524		$	265,476

Stockholders' Equity of the Company (Tables)

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Schedule of Earnings Per Share

SL Green's earnings per share for the years ended December 31, 2014, 2013 and 2012 are computed as follows (in thousands):



	Year Ended December 31,
Numerator	2014		2013		2012
Basic Earnings:
Income attributable to SL Green common stockholders	$	503,104	$	101,330	$	155,984
Effect of Dilutive Securities:
Redemption of units to common shares	18,467		3,023		5,597
Diluted Earnings:
Income attributable to SL Green common stockholders	$	521,571	$	104,353	$	161,581



	Year Ended December 31,
Denominator	2014	2013	2012
Basic Shares:
Weighted average common stock outstanding	95,774	92,269	89,319
Effect of Dilutive Securities:
Redemption of units to common shares	3,514	2,735	3,207
Stock-based compensation plans	408	262	347
Diluted weighted average common stock outstanding	99,696	95,266	92,873

Partners' Capital of the Operating Partnership (Tables)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Schedule of calculation of numerator and denominator in earnings per unit

The Operating Partnership's earnings per unit for the years ended December 31, 2014, 2013 and 2012 are computed as follows (in thousands):



	Year Ended December 31,
Numerator	2014		2013		2012
Basic and Diluted Earnings:
Income attributable to SLGOP common unitholders	$	521,571	$	104,353	$	161,581



	Year Ended December 31,
Denominator	2014	2013	2012
Basic units:
Weighted average common units outstanding	99,288	95,004	92,526
Effect of Dilutive Securities:
Stock-based compensation plans	408	262	347
Diluted weighted average common units outstanding	99,696	95,266	92,873

Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 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



	2014		2013		2012
Dividend yield	1.60	%	1.92	%	2.00	%
Expected life of option	3.6 years		4.1 years		3.7 years
Risk-free interest rate	1.29	%	0.96	%	0.46	%
Expected stock price volatility	33.97	%	36.12	%	37.40	%

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

A summary of the status of the Company's stock options as of December 31, 2014, 2013 and 2012 and changes during the years ended December 31, 2014, 2013 and 2012 are as follows:



	2014					2013					2012
	Options Outstanding			Weighted Average Exercise Price		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	1,277,200			$	63.37
Granted	102,050			119.12		828,100			87.23		361,331			75.36
Exercised	(348,156		)	72.76		(223,531		)	53.93		(382,612		)	36.65
Lapsed or cancelled	(56,202		)	90.03		(40,535		)	83.94		(54,919		)	72.99
Balance at end of year	1,462,726			$	87.98	1,765,034			$	83.24	1,201,000			$	75.05
Options exercisable at end of year	428,951			$	90.32	461,458			$	89.38	479,913			$	86.85
Weighted average fair value of options granted during the year	$	2,841,678				$	18,041,576				$	6,602,967

Summary of restricted stock and charges during the period

A summary of the Company's restricted stock as of December 31, 2014, 2013 and 2012 and charges during the years ended December 31, 2014, 2013 and 2012 are as follows:



	2014			2013			2012
Balance at beginning of year	2,994,197			2,804,901			2,912,456
Granted	9,550			192,563			92,729
Cancelled	(2,768		)	(3,267		)	(200,284		)
Balance at end of year	3,000,979			2,994,197			2,804,901
Vested during the year	75,043			21,074			408,800
Compensation expense recorded	$	9,658,019		$	6,713,155		$	6,930,381
Weighted average fair value of restricted stock granted during the year	$	1,141,675		$	17,386,949		$	7,023,942

Accumulated Other Comprehensive Loss of the Company (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2014, 2013 and 2012 (in thousands):



	Net unrealized loss on derivative instruments(1)			SL Green’s share of joint venture net unrealized loss on derivative instruments(2)			Unrealized gain and (loss) on marketable securities			Total
Balance at December 31, 2011	$	(17,510	)	$	(17,401	)	$	6,466		$	(28,445	)
Other comprehensive loss before reclassifications	(1,124		)	(9,098		)	(4,879		)	(15,101		)
Amounts reclassified from accumulated other comprehensive income	1,800			10,436			1,723			13,959
Balance at December 31, 2012	(16,834		)	(16,063		)	3,310			(29,587		)
Other comprehensive (loss) income before reclassifications	(168		)	6,267			1,474			7,573
Amounts reclassified from accumulated other comprehensive income	1,877			4,926			—			6,803
Balance at December 31, 2013	(15,125		)	(4,870		)	4,784			(15,211		)
Other comprehensive (loss) income before reclassifications	(576		)	2,847			(2,692		)	(421		)
Amounts reclassified from accumulated other comprehensive income	6,203			1,928			521			8,652
Balance at December 31, 2014	$	(9,498	)	$	(95	)	$	2,613		$	(6,980	)

____________________________________________________________________

(1)


(2)	Amount reclassified from accumulated other comprehensive income (loss) is 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)

12 Months Ended

Dec. 31, 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 December 31, 2014, 2013 and 2012 (in thousands):



	Net unrealized loss on derivative instruments(1)			SLGOP’s share of joint venture net unrealized loss on derivative instruments(2)			Unrealized gain and (loss) on marketable securities			Total
Balance at December 31, 2011	$	(18,391	)	$	(17,814	)	$	7,086		$	(29,119	)
Other comprehensive loss before reclassifications	(912		)	(9,637		)	(5,442		)	(15,991		)
Amounts reclassified from accumulated other comprehensive income (loss)	1,865			10,811			1,785			$	14,461
Balance at December 31, 2012	(17,438		)	(16,640		)	3,429			(30,649		)
Other comprehensive (loss) income before reclassifications	(68		)	6,553			1,497			7,982
Amounts reclassified from accumulated other comprehensive income	1,933			5,072			—			7,005
Balance at December 31, 2013	(15,573		)	(5,015		)	4,926			(15,662		)
Other comprehensive (loss) income before reclassifications	(703		)	2,916			(2,777		)	(564		)
Amounts reclassified from accumulated other comprehensive income	6,431			1,999			540			8,970
Balance at December 31, 2014	$	(9,845	)	$	(100	)	$	2,689		$	(7,256	)

____________________________________________________________________

(1)

Amount reclassified from accumulated other comprehensive income (loss) is included in interest expense in the respective consolidated statements of income. As of December 31, 2014, 2013 and 2012, the deferred net losses from these terminated hedges, which is included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument, was $12.2 million, $14.2 million and $15.5 million, respectively.


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

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring



	December 31, 2014
	Total		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	39,429	$	4,332	$	35,097	$	—
Interest rate swap agreements (included in other assets)	$	2,174	$	—	$	2,174	$	—
Liabilities:
Interest rate swap agreements (included in accrued interest payable and other liabilities)	$	14,728	$	—	$	14,728	$	—



	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 December 31, 2014 and 2013 (in thousands):



	December 31, 2014				December 31, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value

Debt and preferred equity investments	$	1,408,804	(1)		$	1,304,839	(1)

Fixed rate debt	$	6,140,786	$	6,565,236	$	5,599,960	$	5,886,980
Variable rate debt	2,291,943		2,315,952		1,319,948		1,327,422
	$	8,432,729	$	8,881,188	$	6,919,908	$	7,214,402

____________________________________________________________________


(1)	At December 31, 2014, debt and preferred equity investments had an estimated fair value ranging between $1.5 billion and $1.8 billion. 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)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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



	Notional Value		Strike Rate		Effective Date	Expiration Date	Balance Sheet Location	Fair Value
Interest Rate Cap - Sold	$	504,000	4.750	%	May 2014	May 2016	Other Assets	$	4
Interest Rate Cap	504,000		4.750	%	May 2014	May 2016	Other Liabilities	(4		)
Interest Rate Cap	500,000		4.750	%	October 2014	May 2016	Other Assets	4
Interest Rate Cap - Sold	500,000		4.750	%	November 2014	May 2016	Other Liabilities	(4		)
Interest Rate Cap	446,000		4.750	%	October 2014	May 2016	Other Assets	3
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	200,000		0.938	%	October 2014	December 2017	Other Assets	871
Interest Rate Swap	150,000		0.940	%	October 2014	December 2017	Other Assets	647
Interest Rate Swap	150,000		0.940	%	October 2014	December 2017	Other Assets	645
Interest Rate Swap	144,000		2.236	%	December 2012	December 2017	Other Liabilities	(4,757		)
Interest Rate Swap	86,400		1.948	%	December 2012	December 2017	Other Liabilities	(2,124		)
Interest Rate Swap	72,000		2.310	%	December 2012	December 2017	Other Liabilities	(2,533		)
Interest Rate Swap	72,000		1.345	%	December 2012	December 2017	Other Liabilities	(506		)
Interest Rate Swap	72,000		2.310	%	December 2012	December 2017	Other Liabilities	(2,534		)
Interest Rate Swap	57,600		1.990	%	December 2012	December 2017	Other Liabilities	(1,487		)
Interest Rate Swap	30,000		2.295	%	July 2010	June 2016	Other Liabilities	(774		)
Interest Rate Swap	8,500		0.740	%	February 2012	February 2015	Other Liabilities	(5		)
								$	(12,554	)

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



	Amount of (Loss) or Gain Recognized in Other Comprehensive Loss (Effective Portion)									Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss 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)
	Year Ended December 31,										Year Ended December 31,						Location of Gain Recognized in Income on Derivative	Year Ended December 31,
Derivative	2014			2013			2012				2014		2013		2012			2014		2013		2012
Interest Rate Swaps/Caps	$	(703	)	$	(68	)	$	(912	)	Interest expense	$	6,431	$	1,933	$	1,865	Interest expense	$	4	$	3	$	3
Share of unconsolidated joint ventures' derivative instruments	2,916			6,553			(9,637		)	Equity in net income from unconsolidated joint ventures	1,999		5,072		10,811		Equity in net income from unconsolidated joint ventures	—		—		—
	$	2,213		$	6,485		$	(10,549	)		$	8,430	$	7,005	$	12,676		$	4	$	3	$	3

- 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

Rental Income (Tables)

12 Months Ended

Dec. 31, 2014

Leases [Abstract]

Schedule of approximate future minimum rents to be received over the next five years and thereafter

Approximate future minimum rents to be received over the next five years and thereafter for non-cancelable operating leases in effect at December 31, 2014 for the consolidated properties, including consolidated joint venture properties, and our share of unconsolidated joint venture properties are as follows (in thousands):



	Consolidated Properties		Unconsolidated Properties
2015	$	975,025	$	157,438
2016	964,428		157,514
2017	941,014		152,226
2018	879,727		146,605
2019	799,744		134,451
Thereafter	5,774,406		699,568
	$	10,334,344	$	1,447,802

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Schedule of contributions made to multi-employer plans

Contributions we made to the multi-employer plans for the years ended December 31, 2014, 2013 and 2012 are included in the table below (in thousands):



Benefit Plan	2014		2013		2012
Pension Plan	$	2,807	$	2,765	$	2,506
Health Plan	8,470		8,522		8,020
Other plans	5,838		6,006		6,025
Total plan contributions	$	17,115	$	17,293	$	16,551

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 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 leases and noncancellable operating leases with initial terms in excess of one year as of December 31, 2014 (in thousands):



	Capital lease			Non-cancellable operating leases
2015	$	145		$	30,491
2016	170			30,612
2017	291			30,845
2018	291			30,845
2019	315			30,862
Thereafter	56,569			720,698
Total minimum lease payments	57,781			$	874,353
Less amount representing interest	(36,959		)
Capital lease obligations	$	20,822

Segment Information (Tables)

12 Months Ended

Dec. 31, 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
Years ended:
December 31, 2014	$	1,341,163		$	178,815	$	1,519,978
December 31, 2013	1,177,222			193,843		1,371,065
December 31, 2012	1,170,897			119,155		1,290,052
Income from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate and purchase price fair value adjustment
Years ended:
December 31, 2014	$	22,178		$	150,852	$	173,030
December 31, 2013	(49,793		)	159,193		109,400
December 31, 2012	41,366			92,414		133,780
Total assets
As of:
December 31, 2014	$	15,671,662		$	1,424,925	$	17,096,587
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 years ended December 31, 2014, 2013 and 2012 (in thousands):



	Year ended December 31,
	2014		2013			2012
Income from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate and purchase price fair value adjustment	$	173,030	$	109,400		$	133,780
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	123,253		3,601			37,053
Purchase price fair value adjustment	67,446		(2,305		)	—
Income from continuing operations	363,729		110,696			170,833
Net income from discontinued operations	19,075		25,687			32,240
Gain on sale of discontinued operations	163,059		14,900			6,627
Net income	$	545,863	$	151,283		$	209,700

Quarterly Financial Data (unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

SL Green Realty Corp

Condensed Income Statements, Captions [Line Items]

Schedule of Quarterly Financial Information



2014 Quarter Ended	December 31			September 30			June 30			March 31
Total revenues	$	386,627		$	390,274		$	380,631		$	362,446
Income from continuing before equity in net gain on sale of interest in unconsolidated joint venture/real estate, purchase price fair value adjustment, (loss) gain on early extinguishment of debt, loss on sale of investment in marketable securities, net of noncontrolling interests	$	40,379		$	46,863		$	47,035		$	39,416
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	673			16,496			1,444			104,640
Purchase price fair value adjustment	—			(4,000		)	71,446			—
(Loss) gain on early extinguishment of debt	(6,865		)	(24,475		)	(1,028		)	3
Loss on sale of investment in marketable securities	3,895			—			—			—
Net income from discontinued operations	3,626			4,035			5,645			5,769
Gain on sale of discontinued operations	18,817			29,507			114,735			—
Net income attributable to SL Green	60,525			68,426			239,277			149,828
Preferred stock redemption costs	—			—			—			—
Perpetual preferred stock dividends	(3,738		)	(3,738		)	(3,738		)	(3,738		)
Net income attributable to SL Green common stockholders	$	56,787		$	64,688		$	235,539		$	146,090
Net income attributable to common stockholders per common share—basic	$	0.59		$	0.68		$	2.47		$	1.54
Net income attributable to common stockholders per common share—diluted	$	0.59		$	0.68		$	2.46		$	1.53



2013 Quarter Ended	December 31			September 30			June 30			March 31
Total revenues	$	350,451		$	338,782		$	340,888		$	340,944
Income from continuing before equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate, gain (loss) on early extinguishment of debt, gain on sale of investment in marketable securities, net of noncontrolling interests	$	27,478		$	19,895		$	27,398		$	37,300
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/ real estate	7,538			(354		)	(3,583		)	—
Purchase price fair value adjustment	—			—			(2,305		)	—
Gain (loss) on early extinguishment of debt	5			—			(10		)	(18,513		)
Gain on sale of investment in marketable securities	—			—			(8		)	(57		)
Net income from discontinued operations	5,836			7,435			5,943			6,473
Gain on sale of discontinued operations	—			13,787			—			1,113
Net income attributable to SL Green	40,857			40,763			27,435			26,316
Preferred stock redemption costs	—			—			(12,160		)	—
Perpetual preferred stock dividends	(3,737		)	(3,738		)	(6,999		)	(7,407		)
Net income attributable to SL Green common stockholders	$	37,120		$	37,025		$	8,276		$	18,909
Net income attributable to common stockholders per common share—basic	$	0.39		$	0.40		$	0.09		$	0.21
Net income attributable to common stockholders per common share—diluted	$	0.39		$	0.40		$	0.09		$	0.21

SL Green Operating Partnership

Condensed Income Statements, Captions [Line Items]

Schedule of Quarterly Financial Information



2014 Quarter Ended	December 31			September 30			June 30			March 31
Total revenues	$	386,627		$	390,274		$	380,631		$	362,446
Income from continuing before equity in net gain on sale of interest in unconsolidated joint venture/real estate, purchase price fair value adjustment, (loss) gain on early extinguishment of debt, loss on sale of investment in marketable securities, net of noncontrolling interests	$	42,837		$	49,499		$	55,680		$	44,144
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	673			16,496			1,444			104,640
Purchase price fair value adjustment	—			(4,000		)	71,446			—
(Loss) gain on early extinguishment of debt	(6,865		)	(24,475		)	(1,028		)	3
Loss on sale of investment in marketable securities	3,895			—			—			—
Net income from discontinued operations	3,626			4,035			5,645			5,769
Gain on sale of discontinued operations	18,817			29,507			114,735			—
Net income attributable to SLGOP	62,983			71,062			247,922			154,556
Preferred unit redemption costs	—			—			—			—
Perpetual preferred units distributions	(3,738		)	(3,738		)	(3,738		)	(3,738		)
Net income attributable to SLGOP common unitholders	$	59,245		$	67,324		$	244,184		$	150,818
Net income attributable to common unitholders per common unit—basic	$	0.59		$	0.68		$	2.47		$	1.54
Net income attributable to common unitholders per common unit—diluted	$	0.59		$	0.68		$	2.46		$	1.53



2013 Quarter Ended	December 31			September 30			June 30			March 31
Total revenues	$	350,451		$	338,782		$	340,888		$	340,944
Income from continuing before equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate, gain (loss) on early extinguishment of debt, gain on sale of investment in marketable securities, net of noncontrolling interests	$	28,592		$	21,005		$	27,642		$	37,855
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/ real estate	7,538			(354		)	(3,583		)	—
Purchase price fair value adjustment	—			—			(2,305		)	—
Gain (loss) on early extinguishment of debt	5			—			(10		)	(18,513		)
Gain on sale of investment in marketable securities	—			—			(8		)	(57		)
Net income from discontinued operations	5,836			7,435			5,943			6,473
Gain on sale of discontinued operations	—			13,787			—			1,113
Net income attributable to SLGOP	41,971			41,873			27,679			26,871
Preferred unit redemption costs	—			—			(12,160		)	—
Perpetual preferred distributions	(3,737		)	(3,738		)	(6,999		)	(7,407		)
Net income attributable to SLGOP common unitholders	$	38,234		$	38,135		$	8,520		$	19,464
Net income attributable to common unitholders per common unit—basic	$	0.39		$	0.40		$	0.09		$	0.21
Net income attributable to common unitholders per common unit—diluted	$	0.39		$	0.40		$	0.09		$	0.21

Organization and Basis of Presentation (Details) - SL Green Operating Partnership	Dec. 31, 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)	3.92%	2.96%
Service Corporation
Organization
Economic interest in variable interest entity (as a percent)	95.00%

Significant Accounting Policies (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Principles of Consolidation
Commercial real estate properties	$ 12,163,976	$ 10,687,540
Mortgages and other loans payable	5,586,709	4,860,578
Assets held for sale	462,430	0
Liabilities related to assets held for sale	266,873	0
Consolidated VIEs
Principles of Consolidation
Commercial real estate properties	198,400	605,900
Mortgages and other loans payable	106,500	$ 370,900
Consolidated VIEs \| Commercial properties
Principles of Consolidation
Assets held for sale	445,000
Liabilities related to assets held for sale	$ 253,900

Significant Accounting Policies (Details 2) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	May 31, 2014	Jun. 30, 2013	Apr. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Investment in Commercial Real Estate Properties
Depreciation expense (including amortization of the capital lease asset)				$ 338,800	$ 296,500	$ 287,500
Period from cessation of major construction to consider construction project as complete and available for occupancy, maximum				1 year
Weighted average amortization period for above-market leases				7 years 11 days
Weighted average amortization period for below-market leases				5 years 7 months 13 days
Weighted average amortization period for in-place lease costs				5 years 11 months 16 days
Increase in rental revenue from amortization of acquired leases				$ 23,300	18,800	16,500
Write-off of above and in place market leases					6,800
Increase in rental revenue					25,600
Reduction in interest expense from amortization of above-market rate mortgages				(5,000)	(5,000)	$ (1,400)
Identified intangible assets (included in other assets):
Gross amount				664,297	746,704
Accumulated amortization				(383,236)	(343,339)
Net				281,061	403,365
Identified intangible liabilities (included in deferred revenue):
Gross amount				655,755	671,380
Accumulated amortization				(483,948)	(429,138)
Net				$ 171,807	$ 242,242
Above-market leases \| Minimum
Investment in Commercial Real Estate Properties
Estimated useful life of other intangible assets				1 year
Above-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
Acquired below-market leases, net of acquired above-market leases
Estimated annual amortization
2015				$ 1,978
2016				(592)
2017				(1,303)
2018				(3,135)
2019				(3,994)
All other identifiable assets
Estimated annual amortization
2015				9,150
2016				5,919
2017				4,442
2018				3,005
2019				$ 2,467
300 Main Street
Investment in Commercial Real Estate Properties
Impairment charges recorded		$ 2,200
16 Court Street
Investment in Commercial Real Estate Properties
Purchase price fair value adjustment			$ (2,300)
Buildings (fee ownership)
Investment in Commercial Real Estate Properties
Estimated useful life				40 years
Building (leasehold interest) \| Maximum
Investment in Commercial Real Estate Properties
Estimated useful life				40 years
Furniture and fixtures \| Minimum
Investment in Commercial Real Estate Properties
Estimated useful life				4 years
Furniture and fixtures \| Maximum
Investment in Commercial Real Estate Properties
Estimated useful life				7 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
388-390 Greenwich Street
Investment in Commercial Real Estate Properties
Purchase price fair value adjustment recognized	$ 71,400

Significant Accounting Policies (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2012	Dec. 31, 2013
Investment in Marketable Securities
Marketable securities	$ 39,429		$ 32,049
Net proceeds on sale of marketable securities	4,400	$ 6,800
Realized gain (loss) on investment in marketable securities	3,900	$ 4,900
Commercial mortgage-backed securities
Investment in Marketable Securities
Cost basis	32,400		23,000
Rake bonds
Investment in Marketable Securities
Cost basis			3,600
Level 1
Investment in Marketable Securities
Marketable securities	4,332		4,307
Level 1 \| Equity marketable securities
Investment in Marketable Securities
Marketable securities	4,332		4,307
Level 2
Investment in Marketable Securities
Marketable securities	35,097		24,419
Level 2 \| Commercial mortgage-backed securities
Investment in Marketable Securities
Marketable securities	35,097		24,419
Level 3
Investment in Marketable Securities
Marketable securities	0		3,323
Level 3 \| Rake bonds
Investment in Marketable Securities
Marketable securities	0		3,323
Fair Value
Investment in Marketable Securities
Marketable securities	$ 39,429		$ 32,049

Significant Accounting Policies (Details 4) $ in Millions	12 Months Ended
Significant Accounting Policies (Details 4) $ in Millions	Dec. 31, 2014 USD ($) jointventure	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)
Deferred Lease Costs
Portion of compensation capitalized	$ 15.1	$ 12.4	$ 11.0
Estimated average lease term	7 years
Joint venture
Investment in Unconsolidated Joint Ventures
Recourse debt	$ 18.4
Number of joint ventures with debt recourse (joint ventures) \| jointventure	1

Significant Accounting Policies (Details 5) - USD ($)	12 Months Ended
Significant Accounting Policies (Details 5) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reserve for Possible Credit Losses
Days past due for income recognition on debt and preferred equity investments to be suspended	90 days
Loan loss reserves and charge offs	$ 0	$ 0	$ 564,000
Recoveries recorded	0	0	2,436,000
Income taxes
Federal, state and local tax provision	$ 7,800,000	$ 4,400,000	0
Debt and Preferred Equity Investments Held to Maturity
Reserve for Possible Credit Losses
Loan loss reserves and charge offs			$ 3,000,000

Significant Accounting Policies (Details 6)	12 Months Ended
Significant Accounting Policies (Details 6)	Dec. 31, 2014 Tenant agreement	Dec. 31, 2013	Dec. 31, 2012
Workforce concentration
Concentration of Credit Risk
Number of collective bargaining agreements (agreement) \| agreement	6
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)	9.90%	10.60%	10.20%
Annualized rent \| 388 and 390 Greenwich Street \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	9.80%
Annualized rent \| 919 Third Avenue \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	7.50%	7.80%	8.00%
Annualized rent \| 1185 Avenue of the Americas \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	7.80%	7.70%	7.10%
Annualized rent \| One Madison Avenue \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)		6.40%	6.20%
Annualized rent \| Tenant 1 \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	10.90%
Annualized rent \| Tenant 2 \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	7.20%
Annualized rent \| Tenant 3 \| Customer concentration
Concentration of Credit Risk
Percentage of concentration (percent)	5.60%
Collective bargaining arrangements \| Workforce concentration
Concentration of Credit Risk
Percentage of concentration (percent)	73.40%
Collective bargaining arrangements which expires in 2015 \| Workforce concentration
Concentration of Credit Risk
Percentage of concentration (percent)	77.60%

Property Acquisitions (Details)

1 Months Ended

12 Months Ended

Oct. 31, 2014

USD ($)

Sep. 30, 2014

USD ($)

Aug. 31, 2014

USD ($)

Jul. 31, 2014

USD ($)

ft²

May 31, 2014

USD ($)

Nov. 30, 2013

USD ($)

Apr. 30, 2013

USD ($)

Mar. 31, 2013

USD ($)

unit

Dec. 31, 2012

USD ($)

Sep. 30, 2012

USD ($)

Jun. 30, 2012

USD ($)

Jan. 31, 2012

USD ($)

ft²

unit

Dec. 31, 2014

USD ($)

ft²

$ / unit

$ / shares

Dec. 31, 2013

USD ($)

$ / unit

$ / shares

Recognized Identifiable Assets Acquired and Liabilities Assumed

Approximate Square Feet (sqft) | ft²

33,891,036

Fixed rate debt

$ 4,736,709,000

$ 4,130,629,000

Series J Preferred Units

Recognized Identifiable Assets Acquired and Liabilities Assumed

Fixed rate debt

^[1]

4,000,000

102 Greene Street

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[2]

$ 11,288,000

Building and building leasehold

^[2]

20,962,000

Above market lease value

^[2]

Acquired in-place leases

^[2]

Other assets, net of other liabilities

^[2]

Assets acquired

^[2]

32,250,000

Mark-to-market assumed debt

^[2]

Below market lease value

^[2]

Derivatives

^[2]

Liabilities assumed

^[2]

Purchase price allocation

^[2]

32,250,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[2]

32,250,000

Equity and/or debt investment held

^[2]

Debt assumed

^[2]

$ 0

635 Madison Avenue

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[2],[3]

$ 153,745,000

Building and building leasehold

^[2],[3]

Above market lease value

^[2],[3]

Acquired in-place leases

^[2],[3]

Other assets, net of other liabilities

^[2],[3]

Assets acquired

^[2],[3]

153,745,000

Mark-to-market assumed debt

^[2],[3]

Below market lease value

^[2],[3]

Derivatives

^[2],[3]

Liabilities assumed

^[2],[3]

Purchase price allocation

^[2],[3]

153,745,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[2],[3]

153,745,000

Equity and/or debt investment held

^[2],[3]

Debt assumed

^[2],[3]

635 Madison Avenue | Series J Preferred Units

Recognized Identifiable Assets Acquired and Liabilities Assumed

Issuance of aggregate liquidation preference of preferred units

$ 4,000,000

752 Madison Avenue

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[2],[4]

$ 282,415,000

Building and building leasehold

^[2],[4]

Above market lease value

^[2],[4]

Acquired in-place leases

^[2],[4]

Other assets, net of other liabilities

^[2],[4]

Assets acquired

^[2],[4]

282,415,000

Mark-to-market assumed debt

^[2],[4]

Below market lease value

^[2],[4]

Derivatives

^[2],[4]

Liabilities assumed

^[2],[4]

Purchase price allocation

^[2],[4]

282,415,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[2],[4]

282,415,000

Equity and/or debt investment held

^[2],[4]

Debt assumed

^[2],[4]

$ 0

Ownership interest in consolidated joint venture (as a percent)

80.00%

719 Seventh Avenue

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[2],[5]

$ 14,402,000

Building and building leasehold

^[2],[5]

26,747,000

Above market lease value

^[2],[5]

Acquired in-place leases

^[2],[5]

Other assets, net of other liabilities

^[2],[5]

Assets acquired

^[2],[5]

41,149,000

Mark-to-market assumed debt

^[2],[5]

Below market lease value

^[2],[5]

Derivatives

^[2],[5]

Liabilities assumed

^[2],[5]

Purchase price allocation

^[2],[5]

41,149,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[2],[5]

41,149,000

Equity and/or debt investment held

^[2],[5]

Debt assumed

^[2],[5]

$ 0

Ownership interest in consolidated joint venture (as a percent)

75.00%

719 Seventh Avenue | Series L Preferred Units

Recognized Identifiable Assets Acquired and Liabilities Assumed

Issuance of aggregate liquidation preference of preferred units

$ 14,100,000

719 Seventh Avenue | Series K Preferred Units

Recognized Identifiable Assets Acquired and Liabilities Assumed

Issuance of aggregate liquidation preference of preferred units

9,500,000

115 Spring Street

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[2]

15,938,000

Building and building leasehold

^[2]

37,187,000

Above market lease value

^[2]

Acquired in-place leases

^[2]

Other assets, net of other liabilities

^[2]

Assets acquired

^[2]

53,125,000

Mark-to-market assumed debt

^[2]

Below market lease value

^[2]

Derivatives

^[2]

Liabilities assumed

^[2]

Purchase price allocation

^[2]

53,125,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[2]

53,125,000

Equity and/or debt investment held

^[2]

Debt assumed

^[2]

$ 0

388-390 Greenwich Street

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[2],[6]

$ 558,777,000

Building and building leasehold

^[2],[6]

1,037,729,000

Above market lease value

^[2],[6]

Acquired in-place leases

^[2],[6]

Other assets, net of other liabilities

^[2],[6]

6,495,000

Assets acquired

^[2],[6]

1,603,001,000

Mark-to-market assumed debt

^[2],[6]

Below market lease value

^[2],[6]

Derivatives

^[2],[6]

18,001,000

Liabilities assumed

^[2],[6]

18,001,000

Purchase price allocation

^[2],[6]

1,585,000,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[2],[6]

208,614,000

Equity and/or debt investment held

^[2],[6]

148,025,000

Debt assumed

^[2],[6]

$ 1,162,379,000

49.65%

$ 1,585,000,000

1,450,000,000

504,000,000

Purchase price fair value adjustment recognized

$ 71,400,000

Business Acquisition, Pro Forma Information [Abstract]

Actual revenues since acquisition

1,519,978,000

Actual net income since acquisition

545,863,000

Pro forma revenues

1,562,206,000

1,481,021,000

Pro forma income from continuing operations

^[7]

$ 298,679,000

$ 205,437,000

Pro forma basic earnings per share | $ / shares

$ 4.60

$ 2.10

Pro forma diluted earnings per share | $ / shares

$ 4.58

$ 2.09

Pro forma basic earnings per unit | $ / unit

4.60

2.10

Pro forma diluted earnings per unit | $ / unit

4.58

2.09

315 West 33rd Street

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[8]

$ 195,834,000

Building and building leasehold

^[8]

164,429,000

Above market lease value

^[8]

7,084,000

Acquired in-place leases

^[8]

26,125,000

Other assets, net of other liabilities

^[8]

1,142,000

Assets acquired

^[8]

394,614,000

Mark-to-market assumed debt

^[8]

Below market lease value

^[8]

7,839,000

Liabilities assumed

^[8]

7,839,000

Purchase price allocation

^[8]

386,775,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[8]

386,775,000

Equity and/or debt investment held

^[8]

Debt assumed

^[8]

Assemblage of Retail Development Properties on Fifth Avenue

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[8]

135,513,000

Building and building leasehold

^[8]

10,487,000

Above market lease value

^[8]

Acquired in-place leases

^[8]

Other assets, net of other liabilities

^[8]

Assets acquired

^[8]

146,000,000

Mark-to-market assumed debt

^[8]

Below market lease value

^[8]

Liabilities assumed

^[8]

Purchase price allocation

^[8]

146,000,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[8]

146,000,000

Equity and/or debt investment held

^[8]

Debt assumed

^[8]

$ 0

16 Court Street

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[9]

$ 19,217,000

Building and building leasehold

^[9]

63,210,000

Above market lease value

^[9]

5,122,000

Acquired in-place leases

^[9]

9,422,000

Other assets, net of other liabilities

^[9]

3,380,000

Assets acquired

^[9]

100,351,000

Mark-to-market assumed debt

^[9]

294,000

Below market lease value

^[9]

3,885,000

Liabilities assumed

^[9]

4,179,000

Purchase price allocation

^[9]

96,172,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[9]

4,000,000

Equity and/or debt investment held

^[9]

13,835,000

Debt assumed

^[9]

84,642,000

Mortgage encumbering the property

84,600,000

Purchase price fair value adjustment

$ (2,300,000)

248-252 Bedford Avenue

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[10]

$ 10,865,000

Building and building leasehold

^[10]

44,035,000

Above market lease value

^[10]

Acquired in-place leases

^[10]

Other assets, net of other liabilities

^[10]

Assets acquired

^[10]

54,900,000

Mark-to-market assumed debt

^[10]

Below market lease value

^[10]

Liabilities assumed

^[10]

Purchase price allocation

^[10]

54,900,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[10]

21,782,000

Equity and/or debt investment held

^[10]

Debt assumed

^[10]

Face amount of loan

$ 22,000,000.0

Stated interest rate of preferred partnership units issued (as a percent)

90.00%

131-137 Spring Street

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

$ 27,021,000

Building and building leasehold

105,342,000

Above market lease value

179,000

Acquired in-place leases

7,046,000

Other assets, net of other liabilities

Assets acquired

139,588,000

Fair value adjustment to mortgage note payable

Below market lease value

17,288,000

Liabilities assumed

17,288,000

Purchase price allocation

122,300,000

Net consideration funded by us at closing, excluding consideration financed by debt

122,300,000

Equity and/or debt investment held

Debt assumed

985-987 Third Avenue

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[11]

5,400,000

Building and building leasehold

^[11]

12,600,000

Above market lease value

^[11]

Acquired in-place leases

^[11]

Other assets, net of other liabilities

^[11]

Assets acquired

^[11]

18,000,000

Fair value adjustment to mortgage note payable

^[11]

Below market lease value

^[11]

Liabilities assumed

^[11]

Purchase price allocation

^[11]

18,000,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[11]

18,000,000

Equity and/or debt investment held

^[11]

Debt assumed

^[11]

$ 0

Approximate Square Feet (sqft) | ft²

^[12]

13,678

635-641 Sixth Avenue

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

$ 69,848,000

Building and building leasehold

104,474,000

Above market lease value

Acquired in-place leases

7,727,000

Other assets, net of other liabilities

Assets acquired

182,049,000

Fair value adjustment to mortgage note payable

Below market lease value

9,049,000

Liabilities assumed

9,049,000

Purchase price allocation

173,000,000

Net consideration funded by us at closing, excluding consideration financed by debt

173,000,000

Equity and/or debt investment held

Debt assumed

$ 0

^[13]

304 Park Avenue

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[13]

54,189,000

Building and building leasehold

^[13]

75,619,000

Above market lease value

^[13]

2,824,000

Acquired in-place leases

^[13]

8,265,000

Other assets, net of other liabilities

^[13]

Assets acquired

^[13]

140,897,000

Fair value adjustment to mortgage note payable

^[13]

Below market lease value

^[13]

5,897,000

Liabilities assumed

^[13]

5,897,000

Purchase price allocation

^[13]

135,000,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[13]

135,000,000

Equity and/or debt investment held

^[13]

Consideration in cash

102,000,000

Value of preferred operating partnership units issued

$ 33,000,000

Stonehenge Properties

Recognized Identifiable Assets Acquired and Liabilities Assumed

Land

^[14]

$ 65,533,000

Building and building leasehold

^[14]

128,457,000

Above market lease value

^[14]

594,000

Acquired in-place leases

^[14]

9,573,000

Other assets, net of other liabilities

^[14]

2,190,000

Assets acquired

^[14]

206,347,000

Fair value adjustment to mortgage note payable

^[14]

Below market lease value

^[14]

13,239,000

Liabilities assumed

^[14]

13,239,000

Net consideration funded by us at closing, excluding consideration financed by debt

^[14]

78,121,000

Equity and/or debt investment held

^[14]

Debt assumed

^[14]

$ 0

Ownership interest in consolidated joint venture (as a percent)

80.00%

Manhattan

Recognized Identifiable Assets Acquired and Liabilities Assumed

Price of acquisition

^[14]

$ 193,108,000

Manhattan | Series G Preferred Units

Recognized Identifiable Assets Acquired and Liabilities Assumed

Mortgage encumbering the property

47,600,000

Retail properties

Recognized Identifiable Assets Acquired and Liabilities Assumed

Fixed rate debt

$ 8,500,000.0

Multifamily properties

Recognized Identifiable Assets Acquired and Liabilities Assumed

Number of units (unit) | unit

385

Approximate Square Feet (sqft) | ft²

488,000

Fixed rate debt

$ 100,000,000.0

Interest rate, fixed rate debt (as a percent)

4.10%

Apartments | 248-252 Bedford Avenue

Recognized Identifiable Assets Acquired and Liabilities Assumed

Number of units (unit) | unit

Townhouses | 248-252 Bedford Avenue

Recognized Identifiable Assets Acquired and Liabilities Assumed

Number of units (unit) | unit

[1]	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, or 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.
[2]	We are currently in the process of analyzing the purchase price allocation and, as such, we have not allocated any value to intangible assets such as above- and below-market lease or in-place leases.
[3]	This property was acquired inclusive of the issuance of $4.0 million aggregate liquidation preference of Series J Preferred Units of limited partnership interest of the Operating Partnership.
[4]	In January 2012, a separate joint venture in which an SL Green entity holds an 80% interest acquired the ground tenancy position.
[5]	We, along with our joint venture partner, acquired this property inclusive of the issuance of $14.1 million aggregate liquidation preference of Series L Preferred Units of limited partnership interest of the Operating Partnership and $9.5 million aggregate liquidation preference of Series K Preferred Units of limited partnership interest of the Operating Partnership. We hold a 75.0% controlling interest in this joint venture.
[6]	In May 2014, we acquired Ivanhoe Cambridge, Inc.'s 49.65% economic interest in this property, thereby consolidating full ownership of the property. The transaction valued the consolidated interests at $1.585 billion. Simultaneous with the closing, we refinanced the previous mortgage with a $1.45 billion mortgage. 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.
[7]	The pro forma income from continuing operations for the years ended December 31, 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 year ended December 31, 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 year ended December 31, 2014 excludes this purchase price fair value adjustment.
[8]	During the year ended December 31, 2014, we finalized the purchase price allocation based on a third party appraisal and additional facts and circumstances that existed at the acquisition dates. These adjustments did not have a material impact to our consolidated statement of income for the year ended December 31, 2014.
[9]	In April 2013, we acquired interests from our joint venture partner, City Investment Fund, or CIF, in 16 Court Street in Brooklyn for $4.0 million. We have consolidated the ownership of the building. The transaction valued the consolidated interest at $96.2 million, inclusive of the $84.6 million mortgage encumbering the property. In April 2014, we repaid the mortgage. We recognized a purchase price fair value adjustment of $(2.3) million upon the closing of this transaction. This property, which we initially acquired in July 2007, was previously accounted for as an investment in unconsolidated joint ventures.
[10]	In March 2013, we, along with Magnum Real Estate Group, acquired 84 residential units, consisting of 72 apartment units and 12 townhouses, located at 248-252 Bedford Avenue, Williamsburg, Brooklyn for $54.9 million. Simultaneous with the closing on this property, the joint venture closed on a $22.0 million mortgage loan which was later refinanced in June 2014. The property is above a commercial property already owned by us. We hold a 90.0% controlling interest in this joint venture.
[11]	This property was subsequently sold in July 2014. See Note 4, "Properties Held for Sale and Dispositions."
[12]	The gain on sale for 2 Herald Square, 985-987 Third Avenue, 673 First Avenue, 333 West 34th Street, and 292 Madison Avenue are net of a $2.5 million, $1.3 million, $3.4 million, $3.0 million and $1.5 million employee compensation award, respectively, accrued in connection with the realization of this investment gain as a bonus to certain employees that were instrumental in realizing the gain on sale.
[13]	This property was acquired with $102.0 million in cash and $33.0 million in units of limited partnership interest of the Operating Partnership.
[14]	In January 2012, we acquired five retail and two multifamily properties in Manhattan for $193.1 million. This property was acquired inclusive of the issuance of $47.6 million aggregate liquidation preference of Series G Preferred Units of limited partnership interest of the Operating Partnership. Simultaneous with the closing, we financed the multifamily component, which encompasses 385 units and approximately 488,000 square feet (unaudited), with an aggregate $100.0 million fixed rate mortgage which bears interest at 4.1% and one of the retail properties financed with an $8.5 million fixed rate mortgage. We hold an 80.0% interest in this joint venture which we consolidate as it is a VIE and we have been designated as the primary beneficiary. In February 2013, we sold one of the retail properties, which is further described in Note 4, "Properties Held for Sale and Dispositions."

Properties Held for Sale and Dispositions (Details)
$ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Jan. 31, 2015

USD ($)

Nov. 30, 2014

USD ($)

ft²

Jul. 31, 2014

USD ($)

ft²

May 31, 2014

USD ($)

ft²

Sep. 30, 2013

USD ($)

ft²

Aug. 31, 2013

USD ($)

ft²

Feb. 28, 2013

USD ($)

ft²

Feb. 29, 2012

USD ($)

ft²

Dec. 31, 2014

USD ($)

ft²

Sep. 30, 2014

USD ($)

Jun. 30, 2014

USD ($)

Mar. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Sep. 30, 2013

USD ($)

ft²

Jun. 30, 2013

USD ($)

Mar. 31, 2013

USD ($)

Dec. 31, 2014

USD ($)

ft²

Dec. 31, 2013

USD ($)

Dec. 31, 2012

USD ($)

Properties Sold [Abstract]

Area of property (sqft) | ft²

33,891,036

Gain (Loss) on Sale

$ 18,817

$ 29,507

$ 114,735

$ 0

$ 13,787

$ 0

$ 1,113

$ 163,059

$ 14,900

$ 6,627

Revenues

Rental revenue

51,090

94,558

97,254

Escalation and reimbursement revenues

4,646

14,856

16,232

Other income

554

8,295

Total revenues

55,759

109,968

121,781

Operating expenses

7,772

20,568

23,166

Real estate taxes

7,156

16,521

16,190

Ground rent

3,001

7,975

6,362

Interest expense, net of interest income

12,652

19,782

22,298

Depreciable real estate reserves

2,150

383

Depreciation and amortization

5,581

16,443

20,250

Amortization of deferred financing costs

433

840

892

Total expenses

36,684

84,281

89,541

Net income from discontinued operations

$ 3,626

$ 4,035

$ 5,645

$ 5,769

$ 5,836

$ 7,435

$ 5,943

$ 6,473

$ 19,075

$ 25,687

$ 32,240

180 Maiden Lane

Properties Sold [Abstract]

Area of property (sqft) | ft²

1,090,000

2 Herald Square

Properties Sold [Abstract]

Area of property (sqft) | ft²

^[1]

354,400

Sales Price

^[1]

$ 365,000

Gain (Loss) on Sale

^[1]

18,800

Employee compensation award

$ 2,500

985-987 Third Avenue

Properties Sold [Abstract]

Area of property (sqft) | ft²

^[1]

13,678

Sales Price

^[1]

$ 68,700

Gain (Loss) on Sale

^[1]

29,800

Employee compensation award

$ 1,300

673 First Avenue

Properties Sold [Abstract]

Area of property (sqft) | ft²

^[1]

422,000

Sales Price

^[1]

$ 145,000

Gain (Loss) on Sale

^[1]

117,600

Employee compensation award

$ 3,400

300 Main Street

Properties Sold [Abstract]

Area of property (sqft) | ft²

^[1]

130,000

Sales Price

^[1]

$ 13,500

Gain (Loss) on Sale

^[1]

$ (2,200)

333 West 34th Street

Properties Sold [Abstract]

Area of property (sqft) | ft²

^[1]

345,400

Sales Price

^[1]

$ 220,300

Gain (Loss) on Sale

^[1]

13,800

Employee compensation award

$ 3,000

44 West 55th Street

Properties Sold [Abstract]

Area of property (sqft) | ft²

^[1]

8,557

Sales Price

^[1]

$ 6,300

Gain (Loss) on Sale

^[1]

$ 1,100

292 Madison Avenue

Properties Sold [Abstract]

Area of property (sqft) | ft²

^[1]

203,800

Sales Price

^[1]

$ 85,000

Gain (Loss) on Sale

^[1]

6,600

Employee compensation award

$ 1,500

Subsequent Event | 180 Maiden Lane

Properties Sold [Abstract]

Sales Price

$ 470,000

[1]

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

3 Months Ended

12 Months Ended

Mar. 31, 2014

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2014

Dec. 31, 2011

Debt investment

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

$ 680,100

$ 601,300

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

$ 576,100

644,900

Aggregate weighted average current yield (as a percent)

10.33%

Debt Investments Held [Abstract]

Carrying Value, Net of Discounts and Deferred Origination Fees

$ 1,408,804

1,304,839

Loan loss reserve

(1,000)

$ (7,000)

$ (50,175)

Origination of debt and preferred equity investments

617,090

555,137

$ 645,229

Debt investment

Debt Investments Held [Abstract]

Future Funding Obligations

48,127

Senior Financing

5,693,315

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

1,275,809

936,475

Loan loss reserve

^[1]

(1,000)

Total, net of reserve

^[1]

1,275,809

935,475

Total fixed rate

Debt Investments Held [Abstract]

Future Funding Obligations

16,424

Senior Financing

3,448,250

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

582,174

385,604

Total fixed rate | Junior Mortgage Participation, March 2015

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

398,500

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

11,934

11,856

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

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

205,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

70,688

68,319

Total fixed rate | Other, Various

Debt Investments Held [Abstract]

Future Funding Obligations

^[2]

Senior Financing

^[2]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[2]

45,611

44,742

Total fixed rate | Mezzanine Loan, May 2016

Debt Investments Held [Abstract]

Future Funding Obligations

^[3]

Senior Financing

^[3]

177,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[3]

14,068

15,012

Total fixed rate | Junior Mortgage Participation, June 2016

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

133,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

49,000

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

Debt Investments Held [Abstract]

Future Funding Obligations

^[4]

Senior Financing

^[4]

1,109,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[4]

98,934

26,884

Carrying Value, Net of Discounts and Deferred Origination Fees

30,000

Carrying amount of Notes defeased

66,700

Interest income recognized previously accrued

$ 10,100

Origination of debt and preferred equity investments

67,300

Total fixed rate | Other, March 2017

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

65,770

54,099

Total fixed rate | Mezzanine Loan, June 2017

Debt Investments Held [Abstract]

Future Funding Obligations

^[5]

16,424

Senior Financing

^[5]

521,750

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[5]

24,608

20,954

Amount participated out

41,300

Total fixed rate | Mezzanine Loan, July 2018

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

539,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

49,629

Total fixed rate | Mortgage Loan, February 2019

Debt Investments Held [Abstract]

Future Funding Obligations

^[6]

Senior Financing

^[6]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[6]

26,209

Loan acquired

$ 26,400

Discount amount

200

Total fixed rate | Mortgage Loan, August 2019

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

637

Total fixed rate | Mezzanine Loan, September 2021

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

15,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

3,500

Total fixed rate | Mezzanine Loan, November 2023

Debt Investments Held [Abstract]

Future Funding Obligations

^[7]

Senior Financing

^[7]

90,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[7]

19,930

19,926

Amount participated out

5,000

Total fixed rate | Mezzanine Loan, January 2025

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

95,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

30,000

Total fixed rate | Mezzanine Loan, November 2016

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

165,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

71,656

71,312

Total fixed rate | Other Various, Junior Participation Loan

Debt Investments Held [Abstract]

Carrying amount of Notes defeased

22,600

Total fixed rate | Other Various, Mezzanine Loan

Debt Investments Held [Abstract]

Carrying amount of Notes defeased

23,000

Total fixed rate | Junior Mortgage Participation, Related To Mortgage Loan, February 2019

Debt Investments Held [Abstract]

Loan acquired

5,700

Discount amount

$ 5,700

Total floating rate

Debt Investments Held [Abstract]

Future Funding Obligations

31,703

Senior Financing

2,245,065

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

693,635

550,871

Total floating rate | Mezzanine Loan, April 2015

Debt Investments Held [Abstract]

Future Funding Obligations

7,785

Senior Financing

50,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

37,322

Total floating rate | Mortgage Mezzanine Loan, June 2015

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

109,527

Total floating rate | Mezzanine Loan, September 2015

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

110,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

49,614

49,110

Total floating rate | Mezzanine Loan, December 2015

Debt Investments Held [Abstract]

Future Funding Obligations

7,249

Senior Financing

113,633

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

42,750

27,662

Total floating rate | Mezzanine Loan, March 2016

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

775,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

73,402

72,823

Total floating rate | Mezzanine Loan, June 2016

Debt Investments Held [Abstract]

Future Funding Obligations

^[8]

Senior Financing

^[8]

160,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[8]

22,573

22,526

Amount participated out

7,400

Total floating rate | Mezzanine Loan, July 2016

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

115,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

24,910

25,590

Total floating rate | Mezzanine Loan, November 2016

Debt Investments Held [Abstract]

Future Funding Obligations

3,641

Senior Financing

172,105

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

33,726

25,725

Total floating rate | Mezzanine Loan, November 2016

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

360,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

99,023

Total floating rate | Mezzanine Loan, December 2016

Debt Investments Held [Abstract]

Future Funding Obligations

333

Senior Financing

33,833

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

11,835

11,798

Total floating rate | Mezzanine Loan, January 2017

Debt Investments Held [Abstract]

Future Funding Obligations

9,053

Senior Financing

91,727

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

20,651

Total floating rate | Mortgage/Mezzanine Loan, July 2017

Debt Investments Held [Abstract]

Future Funding Obligations

2,847

Senior Financing

110,767

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

38,524

Total floating rate | Mortgage/Mezzanine Loan, July 2017

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

22,803

Total floating rate | Mortgage/Mezzanine Loan, September 2017

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

16,848

Total floating rate | Mezzanine Loan, November 2017

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

60,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

14,859

Total floating rate | Mortgage Mezzanine Loan, December 2017

Debt Investments Held [Abstract]

Future Funding Obligations

^[9]

795

Senior Financing

^[9]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[9]

14,845

Amount participated out

5,100

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

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

55,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

20,533

20,553

Total floating rate | Mortgage Mezzanine Loan, February 2019

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

18,083

Total floating rate | Mezzanine Loan, March 2019

Debt Investments Held [Abstract]

Future Funding Obligations

Senior Financing

38,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

21,807

Total floating rate | Mortgage Loan, Repaid in May 2014

Debt Investments Held [Abstract]

Future Funding Obligations

^[10]

Senior Financing

^[10]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[10]

30,000

Total floating rate | Junior Mortgage Participation, Repaid In July 2014

Debt Investments Held [Abstract]

Future Funding Obligations

^[11]

Senior Financing

^[11]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[11]

24,046

Total floating rate | Junior Mortgage Participation/Mezzanine Loan, Repaid In July 2014

Debt Investments Held [Abstract]

Future Funding Obligations

^[11]

Senior Financing

^[11]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[11]

131,724

Total floating rate | Mezzanine Loan, Repaid in August 2014

Debt Investments Held [Abstract]

Future Funding Obligations

^[12]

Senior Financing

^[12]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[12]

59,892

Total floating rate | Junior Mortgage Participation, Repaid In August 2014

Debt Investments Held [Abstract]

Future Funding Obligations

^[12]

Senior Financing

^[12]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[12]

10,873

Total floating rate | Mezzanine Loan, Repaid In August 2014

Debt Investments Held [Abstract]

Future Funding Obligations

^[12]

Senior Financing

^[12]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[12]

$ 0

$ 38,549

[1]	Carrying value is net of discounts, premiums, original issue discounts and deferred origination fees.
[2]	During the fourth quarter of 2014, both our $22.6 million junior participation and our $23.0 mezzanine loan were defeased and are now collateralized by defeasance securities. In connection with the defeasance, the maturity date of the mortgage in which we are a junior participant was accelerated from the May 2016 to February 2016, per the terms of the loan agreement. The maturity date of the mezzanine loan was not changed in connection with the defeasance and will mature in May 2016.
[3]	This loan was repaid in February 2015.
[4]	During the first quarter of 2014, we recognized $10.1 million of previously unaccrued interest income which was deemed collectible as a result of the sale of the underlying 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 in the mortgage and we acquired a $67.3 million participating interest in the new mezzanine loan.
[5]	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.
[6]	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 non-accrual status.
[7]	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.
[8]	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.
[9]	Carrying value is net of $5.1 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.
[10]	This loan was repaid in May 2014.
[11]	This loan was repaid in July 2014.
[12]	This loan was repaid in August 2014.

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

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Preferred equity investment

Aggregate weighted average current yield (as a percent)

10.33%

Carrying Value, Net of Discounts and Deferred Origination Fees

$ 1,408,804

$ 1,304,839

Preferred Equity, July 2015

Preferred equity investment

Senior Financing

^[1]

550,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[2]

123,041

115,198

Preferred Equity, November 2017

Preferred equity investment

Senior Financing

70,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[2]

9,954

9,940

Preferred Equity, Repaid April 2014

Preferred equity investment

Senior Financing

^[3]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[2],[3]

25,896

Preferred Equity, Repaid November 2014

Preferred equity investment

Senior Financing

^[1],[4]

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1],[2],[4]

$ 0

218,330

Preferred equity investments

Preferred equity investment

Aggregate weighted average current yield (as a percent)

10.89%

Senior Financing

$ 620,000

Carrying Value, Net of Discounts and Deferred Origination Fees

^[2]

$ 132,995

$ 369,364

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

Debt and Preferred Equity Investments (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Loan loss reserve activity
Balance at beginning of year	$ 1,000	$ 7,000	$ 50,175
Expensed	0	0	3,000
Recoveries	0	0	(2,436)
Charge-offs and reclassifications	(1,000)	(6,000)	(43,739)
Balance at end of period	$ 0	$ 1,000	$ 7,000

Debt and Preferred Equity Investments (Details 4)
$ in Thousands

12 Months Ended

Dec. 31, 2014

USD ($)

segment

Dec. 31, 2013

USD ($)

Investments, Debt and Equity Securities [Abstract]

Number of portfolio segments of financial receivables (segment) | segment

Additional amount of financing receivables included in other assets

$ 133,500

$ 172,800

Unpaid Principal Balance

With no related allowance recorded

With an allowance recorded

^[1]

10,750

Unpaid Principal Balance

10,750

Recorded Investment

With no related allowance recorded

With an allowance recorded

^[1]

10,750

Recorded Investment

10,750

Allowance Allocated

^[1]

1,000

Average recorded investment in impaired loans

10,900

Investment income recognized

$ 7,100

[1]	This loan was repaid during the year ended December 31, 2014.

Investment in Unconsolidated Joint Ventures (Details)
$ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Dec. 31, 2014

USD ($)

ft²

unit

floor

store

Nov. 30, 2014

Oct. 31, 2014

USD ($)

Mar. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Nov. 30, 2012

USD ($)

Jun. 30, 2012

USD ($)

Dec. 31, 2014

USD ($)

ft²

unit

floor

store

Sep. 30, 2014

USD ($)

Jun. 30, 2014

USD ($)

Mar. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Sep. 30, 2013

USD ($)

Jun. 30, 2013

USD ($)

Mar. 31, 2013

USD ($)

Dec. 31, 2014

USD ($)

ft²

unit

floor

store

Dec. 31, 2013

USD ($)

Dec. 31, 2012

USD ($)

Oct. 01, 2012

Sep. 30, 2012

General information on each joint venture

Net equity investment in VIEs in which the entity is not primary beneficiary

$ 146,200

$ 310,700

$ 146,200

$ 310,700

$ 146,200

$ 310,700

Approximate Square Feet (sqft) | ft²

33,891,036

Gain on Sale

$ 673

$ 16,496

$ 1,444

$ 104,640

7,538

$ (354)

$ (3,583)

$ 0

$ 123,253

3,601

$ 37,053

Carrying Value, Net of Discounts and Deferred Origination Fees

$ 1,408,804

$ 1,304,839

$ 1,408,804

$ 1,304,839

$ 1,408,804

1,304,839

100 Park Avenue

General information on each joint venture

Ownership Percentage

49.90%

Economic Interest (as a percent)

49.90%

Approximate Square Feet (sqft) | ft²

834,000

Acquisition Price

^[1]

$ 95,800

717 Fifth Avenue

General information on each joint venture

Ownership Percentage

^[2]

10.92%

Economic Interest (as a percent)

^[2]

10.92%

Approximate Square Feet (sqft) | ft²

^[2]

119,500

Acquisition Price

^[1],[2]

$ 251,900

Proceeds from sale of equity method investments

$ 67,900

Gain on Sale

$ 3,000

Beneficial interest sold (as a percent)

50.00%

800 Third Avenue

General information on each joint venture

Ownership Percentage

42.95%

Economic Interest (as a percent)

42.95%

Approximate Square Feet (sqft) | ft²

526,000

Acquisition Price

^[1]

$ 285,000

1745 Broadway

General information on each joint venture

Ownership Percentage

^[3]

56.88%

Economic Interest (as a percent)

^[3]

56.88%

Approximate Square Feet (sqft) | ft²

^[3]

674,000

Acquisition Price

^[1],[3]

$ 520,000

Mortgage on properties assumed

16,000

Accrued interest

$ 7,000

Jericho Plaza

General information on each joint venture

Ownership Percentage

20.26%

Economic Interest (as a percent)

20.26%

Approximate Square Feet (sqft) | ft²

640,000

Acquisition Price

^[1]

$ 210,000

The Meadows

General information on each joint venture

Ownership Percentage

50.00%

Economic Interest (as a percent)

50.00%

Approximate Square Feet (sqft) | ft²

582,100

Acquisition Price

^[1]

$ 111,500

600 Lexington Avenue

General information on each joint venture

Ownership Percentage

55.00%

Economic Interest (as a percent)

55.00%

Approximate Square Feet (sqft) | ft²

303,515

Acquisition Price

^[1]

$ 193,000

11 West 34th Street

General information on each joint venture

Ownership Percentage

30.00%

Economic Interest (as a percent)

30.00%

Approximate Square Feet (sqft) | ft²

17,150

Acquisition Price

^[1]

$ 10,800

7 Renaissance

General information on each joint venture

Ownership Percentage

50.00%

Economic Interest (as a percent)

50.00%

Approximate Square Feet (sqft) | ft²

65,641

Acquisition Price

^[1]

$ 4,000

3 Columbus Circle

General information on each joint venture

Ownership Percentage

^[4]

48.90%

Economic Interest (as a percent)

^[4]

48.90%

Approximate Square Feet (sqft) | ft²

^[4]

741,500

Acquisition Price

^[1],[4]

$ 500,000

280 Park Avenue

General information on each joint venture

Ownership Percentage

^[5]

50.00%

Economic Interest (as a percent)

^[5]

50.00%

Approximate Square Feet (sqft) | ft²

^[5]

1,219,158

Acquisition Price

^[1],[5]

$ 400,000

Interest Of Minority Shareholders, Acquired

$ 11,000

1552 Broadway

General information on each joint venture

Approximate Square Feet (sqft) | ft²

13,045

1552-1560 Broadway

General information on each joint venture

Ownership Percentage

^[6]

50.00%

Economic Interest (as a percent)

^[6]

50.00%

Approximate Square Feet (sqft) | ft²

^[6]

35,897

Acquisition Price

^[1],[6]

$ 136,550

724 Fifth Avenue

General information on each joint venture

Ownership Percentage

50.00%

Economic Interest (as a percent)

50.00%

Approximate Square Feet (sqft) | ft²

65,040

Acquisition Price

^[1]

$ 223,000

10 East 53rd Street

General information on each joint venture

Ownership Percentage

55.00%

Economic Interest (as a percent)

55.00%

Approximate Square Feet (sqft) | ft²

354,300

Acquisition Price

^[1]

$ 252,500

33 Beekman

General information on each joint venture

Ownership Percentage

^[7]

45.90%

Economic Interest (as a percent)

^[7]

45.90%

Approximate Square Feet (sqft) | ft²

^[7]

Acquisition Price

^[1],[7]

$ 31,000

Number of floors of student housing (floors) | floor

521 Fifth Avenue

General information on each joint venture

Ownership Percentage

^[8]

50.50%

Economic Interest (as a percent)

^[8]

50.50%

Approximate Square Feet (sqft) | ft²

^[8]

460,000

Acquisition Price

^[1],[8]

$ 315,000

Gain on Sale

$ 2,800

21 East 66th Street

General information on each joint venture

Ownership Percentage

^[9]

32.28%

Economic Interest (as a percent)

^[9]

32.28%

Approximate Square Feet (sqft) | ft²

^[9]

16,736

Acquisition Price

^[1],[9]

$ 75,000

Gain on Sale

700

315 West 36th Street

General information on each joint venture

Ownership Percentage

35.50%

Economic Interest (as a percent)

35.50%

Approximate Square Feet (sqft) | ft²

147,619

Acquisition Price

^[1]

$ 45,000

650 Fifth Avenue

General information on each joint venture

Ownership Percentage

^[10]

50.00%

Economic Interest (as a percent)

^[10]

50.00%

Approximate Square Feet (sqft) | ft²

^[10]

32,324

Acquisition Price

^[1],[10]

$ 0

121 Greene Street

General information on each joint venture

Ownership Percentage

50.00%

Economic Interest (as a percent)

50.00%

Approximate Square Feet (sqft) | ft²

7,131

Acquisition Price

^[1]

$ 27,400

175-225 Third Street

General information on each joint venture

Ownership Percentage

^[11]

95.00%

Economic Interest (as a percent)

^[11]

95.00%

Approximate Square Feet (sqft) | ft²

^[11]

Acquisition Price

^[1],[11]

$ 74,600

55 West 46th Street

General information on each joint venture

Ownership Percentage

25.00%

^[12]

25.00%

^[12]

25.00%

^[12]

Economic Interest (as a percent)

^[12]

25.00%

Approximate Square Feet (sqft) | ft²

^[12]

347,000

Acquisition Price

^[1],[12]

$ 295,000

Partnership interest sold to Harel by joint venture (as a percent)

75.00%

West Coast office portfolio

General information on each joint venture

Ownership Percentage

42.02%

^[13]

42.04%

^[13]

42.02%

^[13]

42.04%

^[13]

42.04%

^[13]

27.63%

63.18%

Economic Interest (as a percent)

43.74%

Gain on Sale

^[13],[14]

$ 85,600

$ 2,100

521 Fifth Avenue

General information on each joint venture

Partnership interest sold to Harel by joint venture (as a percent)

49.50%

Mortgage Loan | Joint venture | 521 Fifth Avenue

General information on each joint venture

Gain on Sale

$ 19,400

Lehman Bros | 1745 Broadway

General information on each joint venture

Remaining percentage of interest acquired in joint venture (percent)

7.37%

Witkoff | 1745 Broadway

General information on each joint venture

Remaining percentage of interest acquired in joint venture (percent)

14.79%

Wells Fargo | 1745 Broadway

General information on each joint venture

Remaining percentage of interest acquired in joint venture (percent)

2.46%

Three Retail and Two Residential Units | 21 East 66th Street

General information on each joint venture

Ownership Percentage

32.28%

Number of Stores | store

Number Of Residential Units | unit

Three Residential Units | 21 East 66th Street

General information on each joint venture

Ownership Percentage

16.14%

Number Of Residential Units | unit

Participating Financing Due March 2016

General information on each joint venture

Loans Receivable, Gross, Commercial, Acquisition

$ 99,600

100,000

$ 99,600

$ 100,000

$ 99,600

Carrying Value, Net of Discounts and Deferred Origination Fees

40,000

Participating Financing Due March 2016 | Mezzanine loans

General information on each joint venture

Carrying Value, Net of Discounts

$ 60,000

Participating Financing Due February 2022

General information on each joint venture

Loans Receivable, Gross, Commercial, Acquisition

$ 46,200

$ 45,800

$ 46,200

[1]	Acquisition price represents the actual or implied gross purchase price for the joint venture.
[2]	In June 2012, we recognized $67.9 million of additional cash income, equivalent to profit, due to the distribution of refinancing proceeds and a gain on sale of $3.0 million, on the sale of 50.0% of our remaining interest.
[3]	In November 2014, we acquired Lehman Bros.' 7.37% interest in 1745 Broadway. In December 2014, we additionally acquired Witkoff's 14.79% interest and Wells Fargo's 2.46% interest in the property. In connection with the acquisition of Witkoff's interest, we assumed a partner loan of $16.0 million, which is included in mortgages and other loans payable in the consolidated balance sheet, and $7.0 million of accrued interest.
[4]	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.
[5]	In October 2014, we, along with Vornado, acquired equally the interest of minority shareholders for $11.0 million.
[6]	The purchase price represents only the purchase of the 1552 Broadway interest which comprised approximately 13,045 square feet (unaudited). 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.
[7]	The property is currently being developed into a 30 story dormitory building, which will be conveyed to Pace University upon its completion under a long-term ground lease arrangement.
[8]	In November 2012, we refinanced the previous mortgage and sold 49.5% of our partnership interest. We recognized a gain of $19.4 million on the sale. Due to lack of control, we deconsolidated the entity effective November 30, 2012 and adopted the equity method of accounting thereafter. During the year ended December 31, 2013, we recognized additional post closing costs of $2.8 million as an adjustment to the gain.
[9]	In October 2014, the joint venture sold one of the residential units at the property. We recognized a gain of $0.7 million on the sale. As of December 31, 2014, we hold a 32.28% interest in three retail and two residential units at the property and a 16.14% interest in three residential units at the property.
[10]	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.
[11]	In October 2014, we, along with our joint venture partners, acquired a development site at 175-225 Third Street in Brooklyn, New York. The property is being managed by our joint venture partners. We did not consolidate the property as a result of multiple partners having substantive participating rights.
[12]	In October 2014, we acquired the vacant commercial condominium units on floors 2 and 22-34 in the building located at 55 West 46th Street for $295.0 million. We also acquired a retail space on 46th Street and the building’s parking garage and fitness center. We consolidated the property from acquisition through October 31, 2014. In November 2014, we, together with Prudential, formed a joint venture for the ownership of the condominium units. We sold 75.00% of our interest to Prudential and retained 25.00% interest in the joint venture. As a result of Prudential having substantive participating rights, we deconsolidated the property and adopted the equity method of accounting subsequently thereafter.
[13]	Prior to the recapitalization, we consolidated the investment for the months of August and September 2012 as a result of our 63.18% ownership interest and control over its activities. Immediately following the recapitalization in September 2012, our investment was 27.63%. The change in ownership resulted in a change in accounting from consolidating the investment to accounting for the joint venture under the equity method of accounting. During the year ended December 31, 2013, the joint venture sold three properties, the proceeds of which were used primarily to repay a portion of the debt. Also during the year ended December 31, 2013, we acquired in aggregate 14.39% ownership interest of two of our joint venture partners. As a result, we had a 42.04% effective ownership interest (43.74% effective economic interest) in the West Coast portfolio as of December 31, 2013. During the year ended December 31, 2014, we sold our ownership interest in the joint venture.
[14]	Represents the Company's share of the gain.

Investment in Unconsolidated Joint Ventures (Details 2)
$ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Sep. 30, 2014

USD ($)

May 31, 2014

USD ($)

Mar. 31, 2014

USD ($)

Jan. 31, 2014

USD ($)

ft²

Dec. 31, 2013

USD ($)

Jul. 31, 2012

USD ($)

Apr. 30, 2012

USD ($)

Mar. 31, 2012

USD ($)

Dec. 31, 2014

USD ($)

ft²

Sep. 30, 2014

USD ($)

Jun. 30, 2014

USD ($)

Mar. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Sep. 30, 2013

USD ($)

Jun. 30, 2013

USD ($)

Mar. 31, 2013

USD ($)

Dec. 31, 2014

USD ($)

ft²

Dec. 31, 2013

USD ($)

Dec. 31, 2012

USD ($)

Oct. 01, 2012

Sep. 30, 2012

Investments in Unconsolidated Joint Ventures [Abstract]

Gain on Sale

$ 673

$ 16,496

$ 1,444

$ 104,640

$ 7,538

$ (354)

$ (3,583)

$ 0

$ 123,253

$ 3,601

$ 37,053

Total floating rate debt

$ 729,949

$ 1,103,942

$ 729,949

$ 1,103,942

729,949

Approximate Square Feet (sqft) | ft²

33,891,036

Mortgage assigned to joint venture

$ 150,000

$ 0

180 Broadway

Investments in Unconsolidated Joint Ventures [Abstract]

Ownership Percentage

^[1]

25.50%

Implied Sales Price

^[1],[2]

$ 222,500

Gain on Sale

^[1],[3]

16,500

Promote recognized

$ 3,300

747 Madison Avenue

Investments in Unconsolidated Joint Ventures [Abstract]

Ownership Percentage

^[4]

33.33%

Implied Sales Price

^[2],[4]

$ 160,000

Gain on Sale

^[3],[4]

Promote recognized

10,300

Preferred equity investment

30,000

Deferred gain on sale

$ 13,100

West Coast office portfolio

Investments in Unconsolidated Joint Ventures [Abstract]

Ownership Percentage

42.02%

^[5]

42.04%

^[5]

42.02%

^[5]

42.04%

^[5]

42.04%

^[5]

27.63%

63.18%

Implied Sales Price

^[2],[5]

$ 756,000

$ 224,300

$ 756,000

$ 224,300

Gain on Sale

^[3],[5]

$ 85,600

$ 2,100

Economic interest

43.74%

West Coast Office Portfolio, Two Joint Venture Partners

Investments in Unconsolidated Joint Ventures [Abstract]

Ownership Percentage

14.39%

21-25 West 34th Street

Investments in Unconsolidated Joint Ventures [Abstract]

Ownership Percentage

^[6]

49.90%

Implied Sales Price

^[2],[6]

$ 114,900

Gain on Sale

^[3],[6]

$ 20,900

Approximate Square Feet (sqft) | ft²

91,300

27-29 West 34th Street

Investments in Unconsolidated Joint Ventures [Abstract]

Ownership Percentage

^[7]

50.00%

Implied Sales Price

^[2],[7]

$ 70,100

Gain on Sale

^[3],[7]

7,600

Accrued employee compensation award

1,500

One Court Square

Investments in Unconsolidated Joint Ventures [Abstract]

Ownership Percentage

^[8]

30.00%

Implied Sales Price

^[2],[8]

$ 481,100

Gain on Sale

^[3],[8]

1,000

Mortgage assigned to joint venture

$ 315,000

379 West Broadway

Investments in Unconsolidated Joint Ventures [Abstract]

Ownership Percentage

^[9]

45.00%

Implied Sales Price

^[2],[9]

$ 48,500

Gain on Sale

^[3],[9]

6,500

Fees Position Acquired

$ 13,500

141 Fifth Avenue

Investments in Unconsolidated Joint Ventures [Abstract]

Ownership Percentage

^[10]

50.00%

Implied Sales Price

^[2],[10]

$ 46,000

Gain on Sale

^[3],[10]

7,300

Employee compensation award

$ 1,500

Joint venture

Investment in Unconsolidated Joint Ventures

Maximum amount of loan recourse to entity

$ 18,400

18,400

Investments in Unconsolidated Joint Ventures [Abstract]

Total floating rate debt

$ 1,842,815

$ 1,713,440

$ 1,842,815

$ 1,713,440

$ 1,842,815

Preferred equity | Herald Center

Investments in Unconsolidated Joint Ventures [Abstract]

Interest rate (as a percent)

8.75%

[1]	In connection with the sale of the property, we also recognized a promote of $3.3 million.
[2]	Represents implied gross valuation for the joint venture or sales price of the property.
[3]	Represents the Company's share of the gain.
[4]	We sold our ownership 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. We also 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 requirements of a sale under the full accrual method. We, along with our joint venture partners, retained one apartment unit at this property.
[5]	Prior to the recapitalization, we consolidated the investment for the months of August and September 2012 as a result of our 63.18% ownership interest and control over its activities. Immediately following the recapitalization in September 2012, our investment was 27.63%. The change in ownership resulted in a change in accounting from consolidating the investment to accounting for the joint venture under the equity method of accounting. During the year ended December 31, 2013, the joint venture sold three properties, the proceeds of which were used primarily to repay a portion of the debt. Also during the year ended December 31, 2013, we acquired in aggregate 14.39% ownership interest of two of our joint venture partners. As a result, we had a 42.04% effective ownership interest (43.74% effective economic interest) in the West Coast portfolio as of December 31, 2013. During the year ended December 31, 2014, we sold our ownership interest in the joint venture.
[6]	We sold our ownership interest in the joint venture. We, along with our joint venture partner, retained approximately 91,300 square feet (unaudited) of development rights at the property.
[7]	We sold our ownership interest in the joint venture. The gain on the sale of this investment is net of a $1.5 million employee compensation award, accrued in connection with the realization of this investment gain as a bonus to certain employees that were instrumental in realizing the gain on this sale. Simultaneously, we, along with Sutton, also formed a new joint venture and retained the air rights at this property.
[8]	We, along with our joint venture partner, sold the property, which included the assumption by the purchaser of $315.0 million of existing debt.
[9]	We, along with our joint venture partner, sold the property, inclusive of the fee position, which was acquired for $13.5 million.
[10]	We, along with our joint venture partner, sold the property. The gain on the sale of this investment is net of a $1.5 million employee compensation award, accrued in connection with the realization of this investment gain as a bonus to certain employees that were instrumental in realizing the gain on this sale.

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

1 Months Ended

3 Months Ended

12 Months Ended

May 31, 2014

Feb. 28, 2014

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Nov. 30, 2014

Oct. 31, 2014

Debt Instrument [Line Items]

Total fixed rate debt

$ 4,736,709,000

$ 4,130,629,000

$ 4,736,709,000

$ 4,130,629,000

Total floating rate debt

1,103,942,000

729,949,000

1,103,942,000

729,949,000

Total mortgages and other loans payable

5,840,651,000

4,860,578,000

5,840,651,000

4,860,578,000

Loss on early extinguishment of debt

(6,865,000)

$ (24,475,000)

$ (1,028,000)

$ 3,000

5,000

$ 0

$ (10,000)

$ (18,513,000)

(32,365,000)

(18,518,000)

$ (6,978,000)

1745 Broadway

Debt Instrument [Line Items]

Total fixed rate debt

^[1]

16,000,000

388-390 Greenwich Street

Debt Instrument [Line Items]

Total fixed rate debt

^[2]

1,004,000,000

Total floating rate debt

^[2]

446,000,000

Joint venture

Debt Instrument [Line Items]

Total fixed rate debt

2,065,264,000

3,223,895,000

2,065,264,000

3,223,895,000

Total floating rate debt

1,713,440,000

1,842,815,000

1,713,440,000

1,842,815,000

Total mortgages and other loans payable

3,778,704,000

5,066,710,000

3,778,704,000

5,066,710,000

Maximum amount of loan recourse to entity

18,400,000

Joint venture | 7 Renaissance

Debt Instrument [Line Items]

Total fixed rate debt

2,147,000

1,276,000

2,147,000

1,276,000

Joint venture | 11 West 34th Street

Debt Instrument [Line Items]

Total fixed rate debt

16,905,000

17,205,000

16,905,000

17,205,000

Joint venture | 280 Park Avenue

Debt Instrument [Line Items]

Total fixed rate debt

700,171,000

706,886,000

700,171,000

706,886,000

Joint venture | 1745 Broadway

Debt Instrument [Line Items]

Total fixed rate debt

340,000,000

Joint venture | Jericho Plaza

Debt Instrument [Line Items]

Total fixed rate debt

163,750,000

Joint venture | 800 Third Avenue

Debt Instrument [Line Items]

Total fixed rate debt

20,910,000

Joint venture | 315 West 36th Street

Debt Instrument [Line Items]

Total fixed rate debt

25,000,000

Joint venture | 521 Fifth Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

3.73%

Total fixed rate debt

^[3]

170,000,000

Total floating rate debt

^[3]

170,000,000

Joint venture | 717 Fifth Avenue | Mortgage loan

Debt Instrument [Line Items]

Committed amount

300,000,000

Joint venture | 717 Fifth Avenue | Mezzanine loans

Debt Instrument [Line Items]

Committed amount

290,000,000

Joint venture | 21 East 66th Street

Debt Instrument [Line Items]

Total fixed rate debt

12,000,000

Total floating rate debt

1,883,000

1,959,000

1,883,000

1,959,000

Joint venture | 388-390 Greenwich Street

Debt Instrument [Line Items]

Total fixed rate debt

^[4]

996,082,000

Total floating rate debt

^[4]

142,297,000

Loss on early extinguishment of debt

$ (2,400,000)

Joint venture | 100 Park Avenue

Debt Instrument [Line Items]

Total fixed rate debt

^[5]

209,786,000

Total floating rate debt

^[5]

360,000,000

Loss on early extinguishment of debt

$ (3,200,000)

Joint venture | 21 West 34th Street

Debt Instrument [Line Items]

Total fixed rate debt

^[6]

100,000,000

Joint venture | 1604-1610 Broadway

Debt Instrument [Line Items]

Total fixed rate debt

^[7]

27,000,000

Incentive income

7,700,000

Joint venture | The Meadows

Debt Instrument [Line Items]

Total floating rate debt

67,350,000

Joint venture | 3 Columbus Circle

Debt Instrument [Line Items]

Total floating rate debt

^[8]

230,974,000

239,233,000

230,974,000

239,233,000

Possible increase in mortgage based on meeting certain performance hurdles

40,000,000.0

Joint venture | 1552 Broadway

Debt Instrument [Line Items]

Total floating rate debt

^[9]

184,210,000

158,690,000

184,210,000

158,690,000

Joint venture | 1552 Broadway | Mortgage loan

Debt Instrument [Line Items]

Committed amount

150,000,000

Unfunded amount

3,900,000

Joint venture | 1552 Broadway | Mezzanine loans

Debt Instrument [Line Items]

Committed amount

41,500,000

Unfunded amount

3,400,000

Joint venture | Other loan payable

Debt Instrument [Line Items]

Total floating rate debt

30,000,000

Joint venture | 650 Fifth Avenue

Debt Instrument [Line Items]

Total floating rate debt

^[10]

65,000,000

Joint venture | 650 Fifth Avenue | Mortgage loan

Debt Instrument [Line Items]

Committed amount

$ 97,000,000

Unfunded amount

$ 32,000,000

Joint venture | 175-225 Third Street

Debt Instrument [Line Items]

Total floating rate debt

40,000,000

Joint venture | 10 East 53rd Street

Debt Instrument [Line Items]

Total floating rate debt

125,000,000

Joint venture | 724 Fifth Avenue

Debt Instrument [Line Items]

Total floating rate debt

^[11]

275,000,000

120,000,000

275,000,000

120,000,000

Joint venture | 724 Fifth Avenue | Mezzanine loans

Debt Instrument [Line Items]

Loss on early extinguishment of debt

(1,200,000)

Joint venture | 33 Beekman

Debt Instrument [Line Items]

Total floating rate debt

^[12]

52,283,000

18,362,000

52,283,000

18,362,000

Maximum amount of loan recourse to entity

75,000,000

Joint venture | 600 Lexington Avenue

Debt Instrument [Line Items]

Total floating rate debt

116,740,000

120,616,000

116,740,000

120,616,000

Joint venture | 55 West 46th Street

Debt Instrument [Line Items]

Total floating rate debt

^[13]

150,000,000

Joint venture | 55 West 46th Street | Mortgage loan

Debt Instrument [Line Items]

Committed amount

190,000,000

Unfunded amount

40,000,000

Joint venture | 121 Greene Street

Debt Instrument [Line Items]

Total floating rate debt

15,000,000

Joint venture | 747 Madison Avenue

Debt Instrument [Line Items]

Total floating rate debt

33,125,000

Joint venture | West Coast office portfolio

Debt Instrument [Line Items]

Total floating rate debt

^[14]

526,290,000

Joint venture | 180/182 Broadway

Debt Instrument [Line Items]

Total floating rate debt

^[15]

89,893,000

Initial Maturity July 2022 | Joint venture | 717 Fifth Avenue

Debt Instrument [Line Items]

Total fixed rate debt

^[16]

300,000,000

Initial Maturity July 2024 | Joint venture | 717 Fifth Avenue

Debt Instrument [Line Items]

Total fixed rate debt

^[16]

$ 314,381,000

$ 304,000,000

$ 314,381,000

$ 304,000,000

Weighted Average | 1745 Broadway

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[1],[17]

4.81%

Weighted Average | 388-390 Greenwich Street

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[2],[17]

2.99%

Interest rate, floating rate debt (as a percent)

^[2],[17]

1.91%

Weighted Average | Joint venture | 7 Renaissance

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[18]

10.00%

Weighted Average | Joint venture | 11 West 34th Street

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[18]

4.82%

Weighted Average | Joint venture | 280 Park Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[18]

6.57%

Weighted Average | Joint venture | 1745 Broadway

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[18]

5.68%

Weighted Average | Joint venture | Jericho Plaza

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[18]

5.65%

Weighted Average | Joint venture | 800 Third Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[18]

6.00%

Weighted Average | Joint venture | 315 West 36th Street

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[18]

3.16%

Weighted Average | Joint venture | 521 Fifth Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[3],[18]

2.48%

Interest rate, floating rate debt (as a percent)

^[3],[18]

0.00%

Weighted Average | Joint venture | 21 East 66th Street

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[18]

3.60%

Interest rate, floating rate debt (as a percent)

^[18]

2.88%

Weighted Average | Joint venture | 388-390 Greenwich Street

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[4],[18]

0.00%

Interest rate, floating rate debt (as a percent)

^[4],[18]

0.00%

Weighted Average | Joint venture | 100 Park Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[5],[18]

0.00%

Interest rate, floating rate debt (as a percent)

^[5],[18]

2.36%

Weighted Average | Joint venture | 21 West 34th Street

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[6],[18]

0.00%

Weighted Average | Joint venture | 1604-1610 Broadway

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[7],[18]

0.00%

Weighted Average | Joint venture | The Meadows

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[18]

7.75%

Weighted Average | Joint venture | 3 Columbus Circle

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[8],[18]

2.33%

Weighted Average | Joint venture | 1552 Broadway

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[9],[18]

4.25%

Weighted Average | Joint venture | Other loan payable

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[18]

1.05%

Weighted Average | Joint venture | 650 Fifth Avenue

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[10],[18]

3.66%

Weighted Average | Joint venture | 175-225 Third Street

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[18]

4.25%

Weighted Average | Joint venture | 10 East 53rd Street

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[18]

2.65%

Weighted Average | Joint venture | 724 Fifth Avenue

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[11],[18]

2.57%

Weighted Average | Joint venture | 33 Beekman

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[12],[18]

2.90%

Weighted Average | Joint venture | 600 Lexington Avenue

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[18]

2.23%

Weighted Average | Joint venture | 55 West 46th Street

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[13],[18]

2.45%

Weighted Average | Joint venture | 121 Greene Street

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[18]

1.67%

Weighted Average | Joint venture | 747 Madison Avenue

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[18]

0.00%

Weighted Average | Joint venture | West Coast office portfolio

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[14],[18]

0.00%

Weighted Average | Joint venture | 180/182 Broadway

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[15],[18]

0.00%

Weighted Average | Initial Maturity July 2022 | Joint venture | 717 Fifth Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[16],[18]

4.45%

Weighted Average | Initial Maturity July 2024 | Joint venture | 717 Fifth Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[16],[18]

9.00%

[1]	In connection with our acquisition of Witkoff's interest in the unconsolidated joint venture which holds 1745 Broadway, we have assumed this partner loan.
[2]	Simultaneous with the acquisition of our joint venture partner's interest, we refinanced the $1.1 billion floating rate mortgage with a $1.45 billion seven-year floating rate mortgage (including the as-of right extension option), and have consolidated the property. We assumed the existing derivative instruments, which swapped $504.0 million of the floating rate mortgage to a fixed rate mortgage which bears interest at 3.80% per annum. In October 2014, we entered into multiple swap agreements to hedge our interest rate exposure on the additional $500.0 million portion of this mortgage, which was swapped to a fixed rate of 2.69% per annum.
[3]	This loan became a 3.73% fixed rate mortgage upon the effectivity of the interest rate swap in November 2014.
[4]	In May 2014, we acquired the interest of our joint venture partner, 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.
[5]	In February 2014, the joint venture refinanced the previous mortgage and incurred a net loss on early extinguishment of debt of $3.2 million.
[6]	In January 2014, we sold our interest in the joint venture, inclusive of our share of the joint venture debt.
[7]	This loan was in default since November 2009 due to the non-payment of debt service. In January 2014, the joint venture surrendered its ground lease position to the lender. During the year ended December 31, 2014, we recognized $7.7 million of incentive income, which is included in other income on the consolidated statements of income.
[8]	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 4 of the first table.
[9]	These loans are comprised of a $150.0 million mortgage loan and a $41.5 million mezzanine loan. As of December 31, 2014, $3.9 million of the mortgage loan and $3.4 million of the mezzanine loan remained unfunded.
[10]	In October 2014, the joint venture closed on a $97.0 million leasehold mortgage, of which $32.0 million remained unfunded as of December 31, 2014.
[11]	In April 2014, the joint venture refinanced the previous mortgage 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, of which $18.4 million 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]	This loan has a committed amount of $190.0 million, of which $40.0 million remained unfunded as of December 31, 2014.
[14]	In March 2014, we sold our interest in the joint venture, inclusive of our share in the joint venture debt.
[15]	In September 2014, the joint venture sold the property and repaid the debt.
[16]	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.
[17]	Effective weighted average interest rate for the year ended December 31, 2014, taking into account interest rate hedges in effect during the period.
[18]	Effective weighted average interest rate for the year ended December 31, 2014, taking into account interest rate hedges in effect during the period.

Investment in Unconsolidated Joint Ventures (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets
Commercial real estate property, net	$ 12,163,976	$ 10,687,540
Other assets	647,333	750,123
Liabilities and members' equity
Mortgages and other loans payable	5,586,709	4,860,578
Company's investments in unconsolidated joint ventures	1,172,020	1,113,218
Combined statements of income for the unconsolidated joint ventures
Operating expenses	282,283	276,589	$ 275,872
Ground rent	32,307	31,951	31,504
Real estate taxes	217,843	203,076	194,371
Interest expense, net of interest income	317,400	310,894	309,681
Amortization of deferred financing costs	22,377	15,855	18,558
Transaction related costs, net of recoveries	8,707	3,985	5,402
Depreciation and amortization	400,001	357,599	351,539
Total expenses	1,345,015	1,253,003	1,230,652
Company's equity in net income from unconsolidated joint ventures	26,537	9,921	76,418
Joint venture
Assets
Commercial real estate property, net	5,275,632	6,846,021
Other assets	810,567	827,282
Total assets	6,086,199	7,673,303
Liabilities and members' equity
Mortgages and other loans payable	3,778,704	5,066,710
Other liabilities	485,572	596,960
Members' equity	1,821,923	2,009,633
Total liabilities and members' equity	6,086,199	7,673,303
Company's investments in unconsolidated joint ventures	1,172,020	1,113,218
Combined statements of income for the unconsolidated joint ventures
Total revenues	522,132	628,649	511,157
Operating expenses	82,436	114,633	80,722
Ground rent	9,898	2,863	2,975
Real estate taxes	64,217	71,755	53,613
Interest expense, net of interest income	178,743	225,765	221,476
Amortization of deferred financing costs	12,395	17,092	9,739
Transaction related costs, net of recoveries	535	808	2,044
Depreciation and amortization	137,793	192,504	166,336
Total expenses	486,017	625,420	536,905
(Loss) gain on early extinguishment of debt	(6,743)	0	21,421
Net income (loss) before gain on sale	29,372	3,229	(4,327)
Company's equity in net income from unconsolidated joint ventures	$ 26,537	$ 9,921	$ 76,418

Investments in Unconsolidated Joint Ventures Investment in Unconsolidated Joint Ventures- Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
717 Fifth Avenue
Investment in Unconsolidated Joint Ventures
Other income recognized on distribution			$ 67.9
Joint venture
Investment in Unconsolidated Joint Ventures
Management fees, base revenue	$ 16.9	$ 4.7	7.9
The Meadows \| Joint venture
Investment in Unconsolidated Joint Ventures
Loss on early extinguishment of debt			$ 10.8

Deferred Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Deferred Costs [Abstract]
Deferred leasing	$ 385,555	$ 326,379
Deferred financing	193,776	157,088
Deferred costs, gross	579,331	483,467
Less accumulated amortization	(251,369)	(216,409)
Deferred costs, net	$ 327,962	$ 267,058

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

1 Months Ended

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Apr. 30, 2014

Feb. 28, 2013

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Oct. 31, 2014

Nov. 30, 2012

Debt Instrument [Line Items]

Total fixed rate debt

$ 4,736,709,000

$ 4,130,629,000

$ 4,736,709,000

$ 4,130,629,000

Total floating rate debt

1,103,942,000

729,949,000

1,103,942,000

729,949,000

Total mortgages and other loans payable

5,840,651,000

4,860,578,000

5,840,651,000

4,860,578,000

Loss on early extinguishment of debt

6,865,000

$ 24,475,000

$ 1,028,000

$ (3,000)

(5,000)

$ 0

$ 10,000

$ 18,513,000

32,365,000

18,518,000

$ 6,978,000

Junior subordinate deferrable interest debentures held by trusts

$ 1,600,000,000.0

Book value of collateral

8,200,000,000

8,000,000,000

8,200,000,000

8,000,000,000

Series J Preferred Stock

Debt Instrument [Line Items]

Total fixed rate debt

^[1]

4,000,000

Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest

$ 4,000,000

Preferred Units, shares outstanding (shares)

4,000

Preferred Units (as a percent)

3.75%

Preferred Units, liquidation preference (in dollars per share)

$ 1,000.00

Master repurchase

Debt Instrument [Line Items]

Total floating rate debt

^[2]

$ 100,000,000

91,000,000

$ 100,000,000

91,000,000

711 Third Avenue

Debt Instrument [Line Items]

Total fixed rate debt

120,000,000

500 West Putnam Avenue

Debt Instrument [Line Items]

Total fixed rate debt

22,968,000

23,529,000

22,968,000

23,529,000

Landmark Square

Debt Instrument [Line Items]

Total fixed rate debt

81,269,000

82,909,000

81,269,000

82,909,000

485 Lexington Avenue

Debt Instrument [Line Items]

Total fixed rate debt

450,000,000

120 West 45th Street

Debt Instrument [Line Items]

Total fixed rate debt

170,000,000

762 Madison Avenue

Debt Instrument [Line Items]

Total fixed rate debt

8,045,000

8,211,000

8,045,000

8,211,000

885 Third Avenue

Debt Instrument [Line Items]

Total fixed rate debt

267,650,000

1745 Broadway

Debt Instrument [Line Items]

Total fixed rate debt

^[3]

16,000,000

388-390 Greenwich Street

Debt Instrument [Line Items]

Total fixed rate debt

^[4]

1,004,000,000

Total floating rate debt

^[4]

446,000,000

Extinguishment of debt

1,100,000,000

Refinanced mortgage loan

$ 1,450,000,000

Term

7 years

388-390 Greenwich Street | Swap One

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

3.80%

Total fixed rate debt

$ 504,000,000

388-390 Greenwich Street | Swap Two

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

2.69%

Total fixed rate debt

$ 500,000,000

One Madison Avenue

Debt Instrument [Line Items]

Total fixed rate debt

565,742,000

587,336,000

565,742,000

587,336,000

100 Church

Debt Instrument [Line Items]

Total fixed rate debt

228,612,000

230,000,000

228,612,000

230,000,000

919 Third Avenue

Debt Instrument [Line Items]

Total fixed rate debt

^[5]

$ 500,000,000

500,000,000

$ 500,000,000

500,000,000

Interest in property (as a percent)

51.00%

400 East 57th Street

Debt Instrument [Line Items]

Total fixed rate debt

$ 68,896,000

70,000,000

$ 68,896,000

70,000,000

400 East 58th Street

Debt Instrument [Line Items]

Total fixed rate debt

$ 29,527,000

30,000,000

$ 29,527,000

30,000,000

420 Lexington Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

3.99%

Total fixed rate debt

^[6]

$ 300,000,000

182,641,000

$ 300,000,000

182,641,000

Loss on early extinguishment of debt

$ 24,500,000

1515 Broadway

Debt Instrument [Line Items]

Total fixed rate debt

^[7]

900,000,000

Loss on early extinguishment of debt

$ 18,500,000

Other loan payable

Debt Instrument [Line Items]

Total fixed rate debt

^[8]

50,000,000

609 Partners, LLC

Debt Instrument [Line Items]

Total fixed rate debt

^[9]

23,000

609 Partners, LLC | Series E preferred units

Debt Instrument [Line Items]

Preferred Units, shares outstanding (shares)

22,658

125 Park Avenue

Debt Instrument [Line Items]

Total fixed rate debt

^[10]

146,250,000

2 Herald Square

Debt Instrument [Line Items]

Total fixed rate debt

^[11]

191,250,000

625 Madison Avenue

Debt Instrument [Line Items]

Total fixed rate debt

120,830,000

Loss on early extinguishment of debt

6,900,000

Master repurchase

Debt Instrument [Line Items]

Junior subordinate deferrable interest debentures held by trusts

300,000,000.0

180 Maiden Lane

Debt Instrument [Line Items]

Total floating rate debt

^[12]

253,942,000

262,706,000

253,942,000

262,706,000

248-252 Bedford Avenue

Debt Instrument [Line Items]

Total floating rate debt

^[13]

29,000,000

22,000,000

29,000,000

22,000,000

Loss on early extinguishment of debt

$ 500,000

220 East 42nd Street

Debt Instrument [Line Items]

Total floating rate debt

275,000,000

16 Court Street

Debt Instrument [Line Items]

Total floating rate debt

^[14]

$ 0

$ 79,243,000

$ 0

$ 79,243,000

Loss on early extinguishment of debt

$ 500,000

Weighted Average | Series J Preferred Stock

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[1],[15]

3.75%

Weighted Average | Master repurchase

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[2],[15]

3.38%

Weighted Average | 711 Third Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

4.99%

Weighted Average | 500 West Putnam Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

5.52%

Weighted Average | Landmark Square

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

4.00%

Weighted Average | 485 Lexington Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

5.61%

Weighted Average | 120 West 45th Street

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

6.12%

Weighted Average | 762 Madison Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

3.75%

Weighted Average | 885 Third Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

6.26%

Weighted Average | 1745 Broadway

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[3],[15]

4.81%

Weighted Average | 388-390 Greenwich Street

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[4],[15]

2.99%

Interest rate, floating rate debt (as a percent)

^[4],[15]

1.91%

Weighted Average | One Madison Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

5.91%

Weighted Average | 100 Church

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

4.68%

Weighted Average | 919 Third Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[5],[15]

5.12%

Weighted Average | 400 East 57th Street

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

4.13%

Weighted Average | 400 East 58th Street

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[15]

4.13%

Weighted Average | 420 Lexington Avenue

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[6],[15]

5.95%

Weighted Average | 1515 Broadway

Debt Instrument [Line Items]

Interest rate, fixed rate debt (as a percent)

^[7],[15]

3.93%

Weighted Average | 180 Maiden Lane

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[12],[15]

2.35%

Weighted Average | 248-252 Bedford Avenue

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[13],[15]

1.93%

Weighted Average | 220 East 42nd Street

Debt Instrument [Line Items]

Interest rate, floating rate debt (as a percent)

^[15]

1.75%

[1]	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, or 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.
[2]	The Master Repurchase Agreement, or MRA, has a maximum facility capacity of $300.0 million. In December 2014, we extended the maturity date of the MRA to December 5, 2015.
[3]	In connection with our acquisition of Witkoff's interest in the unconsolidated joint venture which holds 1745 Broadway, we have assumed this partner loan.
[4]	Simultaneous with the acquisition of our joint venture partner's interest, we refinanced the $1.1 billion floating rate mortgage with a $1.45 billion seven-year floating rate mortgage (including the as-of right extension option), and have consolidated the property. We assumed the existing derivative instruments, which swapped $504.0 million of the floating rate mortgage to a fixed rate mortgage which bears interest at 3.80% per annum. In October 2014, we entered into multiple swap agreements to hedge our interest rate exposure on the additional $500.0 million portion of this mortgage, which was swapped to a fixed rate of 2.69% per annum.
[5]	We own a 51.0% controlling interest in the joint venture that is the borrower on this loan.
[6]	In September 2014, we refinanced the previous mortgage and incurred a loss on early extinguishment of debt of $24.5 million. The new loan bears a fixed interest rate of 3.99% per annum.
[7]	In February 2013, we refinanced the mortgage and incurred a loss on early extinguishment of debt of $18.5 million.
[8]	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 4 of the first table.
[9]	In April 2014, the remaining 22,658 Series E Preferred Units of the Operating Partnership were canceled.
[10]	In October 2014, we repaid the loan at maturity.
[11]	In December 2014, we prepaid the loan and incurred a loss on early extinguishment of debt of $6.9 million.
[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 was held for sale at December 31, 2014 and the related mortgage is included in liabilities related to assets held for sale. In January 2015, the property was sold and the debt was repaid.
[13]	In June 2014, we refinanced the mortgage and incurred a loss on early extinguishment of debt of $0.5 million. In April 2014, we repaid the mortgage and incurred a loss on early extinguishment of debt of $0.5 million.
[14]	il 2014, we repaid the mortgage and incurred a loss on early extinguishment of de
[15]	Effective weighted average interest rate for the year ended December 31, 2014, taking into account interest rate hedges in effect during the period.

Corporate Indebtedness (Details) - USD ($)	1 Months Ended				12 Months Ended
Corporate Indebtedness (Details) - USD ($)	Jan. 31, 2015	Nov. 30, 2014	Mar. 31, 2014	Jun. 30, 2005	Dec. 31, 2014	Dec. 31, 2013	Nov. 30, 2012
Corporate Indebtedness
Credit facility, maximum borrowing capacity							$ 1,600,000,000.0
Outstanding under line of credit facility					$ 385,000,000	$ 220,000,000
2012 Credit Facility
Corporate Indebtedness
Letters of credit					113,200,000
Ability to borrow under line of credit facility					701,800,000
Debt origination					$ 3,000,000
Revolving credit facility
Corporate Indebtedness
Credit facility, maximum borrowing capacity							1,200,000,000.0
Maximum borrowing capacity, optional expansion							$ 1,500,000,000.0
Effective rate (as a percent)					1.61%
Outstanding under line of credit facility					$ 385,000,000
Revolving credit facility \| Maximum
Corporate Indebtedness
Unused balance fee					0.35%
Revolving credit facility \| Minimum
Corporate Indebtedness
Facility fee					0.30%
Unused balance fee					0.15%
Revolving credit facility \| LIBOR
Corporate Indebtedness
Interest rate added to base rate (as a percent)					1.45%
Revolving credit facility \| LIBOR \| Maximum
Corporate Indebtedness
Interest rate added to base rate (as a percent)					1.75%
Revolving credit facility \| LIBOR \| Minimum
Corporate Indebtedness
Interest rate added to base rate (as a percent)					1.00%
Term loan
Corporate Indebtedness
Credit facility, maximum borrowing capacity		$ 833,000,000	$ 783,000,000		$ 833,000,000
Increase in credit facility		$ 50,000,000	$ 383,000,000
Decrease in basis points			0.25%
Effective rate (as a percent)					1.67%
Term loan \| LIBOR
Corporate Indebtedness
Interest rate added to base rate (as a percent)					1.40%
Term loan \| LIBOR \| Maximum
Corporate Indebtedness
Interest rate added to base rate (as a percent)					1.90%
Term loan \| LIBOR \| Minimum
Corporate Indebtedness
Interest rate added to base rate (as a percent)					0.95%
Term loan \| Subsequent Event
Corporate Indebtedness
Decrease in basis points	0.20%
Facility fee	0.05%
2011 Revolving Credit Facility
Corporate Indebtedness
Credit facility, maximum borrowing capacity					$ 1,500,000,000
2011 Revolving Credit Facility \| Maximum
Corporate Indebtedness
Unused balance fee						0.45%
2011 Revolving Credit Facility \| Minimum
Corporate Indebtedness
Unused balance fee						0.175%
2011 Revolving Credit Facility \| LIBOR \| Maximum
Corporate Indebtedness
Interest rate added to base rate (as a percent)						1.85%
2011 Revolving Credit Facility \| LIBOR \| Minimum
Corporate Indebtedness
Interest rate added to base rate (as a percent)						1.00%
Trust Preferred Securities
Corporate Indebtedness
Debt instrument issued, value				$ 100,000,000
Interest rate (as a percent)					5.61%
Number of years for which securities will bear fixed rate of interest				10 years
Trust Preferred Securities \| LIBOR
Corporate Indebtedness
Interest rate added to base rate (as a percent)					1.25%

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

12 Months Ended

Dec. 31, 2014

USD ($)

$ / shares

Dec. 31, 2013

USD ($)

Oct. 06, 2010

USD ($)

$ / shares

Mar. 20, 2007

$ / shares

Debt disclosures by scheduled maturity date

Accreted Balance

$ 2,107,078

$ 1,739,330

Senior unsecured notes

Debt disclosures by scheduled maturity date

Unpaid Principal Balance

1,310,323

Accreted Balance

1,274,078

1,339,330

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

Debt disclosures by scheduled maturity date

Unpaid Principal Balance

^[1]

255,308

Accreted Balance

^[1]

$ 255,250

255,206

Coupon 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

Debt disclosures by scheduled maturity date

Unpaid Principal Balance

^[3]

$ 345,000

Accreted Balance

^[3]

$ 309,069

297,837

Coupon Rate (as a percent)

^[2],[3]

3.00%

Effective rate (as a percent)

^[3]

3.00%

Term

^[3]

7 years

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)

12.1163

Amount of convertible debt recorded in equity

$ 78,300

Debt Instrument, Unamortized Discount

$ 35,900

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

Debt disclosures by scheduled maturity date

Unpaid Principal Balance

^[4]

250,000

Accreted Balance

^[4]

$ 249,744

249,681

Coupon 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

Debt disclosures by scheduled maturity date

Unpaid Principal Balance

^[4]

$ 250,000

Accreted Balance

^[4]

$ 250,000

250,000

Coupon 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

Debt disclosures by scheduled maturity date

Unpaid Principal Balance

^[4]

$ 200,000

Accreted Balance

^[4]

$ 200,000

200,000

Coupon Rate (as a percent)

^[2],[4]

4.50%

Effective rate (as a percent)

^[4]

4.50%

Term

^[4]

10 years

Senior unsecured notes | 4.00% Senior unsecured notes maturing on June 15, 2025

Debt disclosures by scheduled maturity date

Unpaid Principal Balance

^[1],[5]

$ 7

Accreted Balance

^[1],[5]

$ 7

Coupon Rate (as a percent)

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

4.00%

Effective rate (as a percent)

^[1],[5]

4.00%

Term

^[1],[5]

20 years

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

$ 1.3491

Adjusted exchange rate for the debentures (in shares)

7.7461

Senior unsecured notes | 3.00% Senior unsecured notes maturing on March 30, 2027

Debt disclosures by scheduled maturity date

Unpaid Principal Balance

^[6]

$ 10,008

Accreted Balance

^[6]

$ 10,008

10,701

Coupon Rate (as a percent)

^[2],[6]

3.00%

Effective rate (as a percent)

^[6]

3.00%

Term

^[6]

20 years

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

25.00%

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

$ 173.30

Adjusted exchange rate for the debentures (in shares)

5.7952

Senior unsecured notes | Senior unsecured notes due August 15, 2014

Debt disclosures by scheduled maturity date

Unpaid Principal Balance

^[1],[7]

$ 0

Accreted Balance

^[1],[7]

$ 0

$ 75,898

Coupon 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 12.1163 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. As a result of meeting specified events (as defined in the Indenture Agreement), these notes are exchangeable commencing January 1, 2015 and will remain exchangeable through March 31, 2015. The notes are guaranteed by ROP. On the issuance date, $78.3 million of the debt balance was recorded in equity. As of December 31, 2014, $35.9 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 current exchange rate is 5.7952 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 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

Dec. 31, 2014

USD ($)

Scheduled Amortization and Principal Repayments

$ 259,360

648,117

1,311,400

715,462

932,450

4,602,185

Total amortization of debt and principal repayments

8,468,974

Mortgages and other loans payable

Scheduled Amortization

2015

39,353

^[1]

2016

54,344

^[1]

61,063

64,462

71,133

203,098

Total amortization of debt

493,453

^[1]

Principal Repayments

2015

220,000

2016

338,465

^[1]

895,329

16,000

28,317

3,849,087

Total principal repayments

5,347,198

^[1]

Term loan

Scheduled Amortization and Principal Repayments

833,000

Total amortization of debt and principal repayments

833,000

2011 Revolving Credit Facility

Scheduled Amortization and Principal Repayments

385,000

Total amortization of debt and principal repayments

385,000

Term Loans and Trust Preferred Securities

Scheduled Amortization and Principal Repayments

100,000

Total amortization of debt and principal repayments

100,000

Senior Unsecured Notes

Scheduled Amortization and Principal Repayments

255,308

355,008

250,000

450,000

Total amortization of debt and principal repayments

1,310,323

Joint venture

Principal Repayments

44,700

640,176

572,003

94,890

266,191

Total principal repayments

$ 1,617,988

[1]	Scheduled amortization and principal repayments include the mortgage at 180 Maiden Lane, which is included in liabilities related to assets held for sale. In January 2015, the property was sold and the debt was repaid.

Corporate Idebtedness (Details 4) - USD ($) $ in Thousands	12 Months Ended
Corporate Idebtedness (Details 4) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Interest expense
Interest expense	$ 319,898	$ 312,897	$ 311,235
Interest income	(2,498)	(2,003)	(1,554)
Interest expense, net	317,400	310,894	309,681
Interest capitalized	$ 22,750	$ 11,475	$ 12,218

Related Party Transactions (Details) - USD ($)	12 Months Ended
Related Party Transactions (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Amounts due from/to related parties
Due from joint ventures	$ 1,254,000	$ 2,376,000
Other	10,481,000	6,154,000
Related party receivables	11,735,000	8,530,000
Alliance Building Services
Related Party Transactions
Profit participation from related party	3,800,000	3,500,000	$ 4,000,000
Payments made for services	21,500,000	23,400,000	20,500,000
Entity with Stephen L Green ownership interest
Related Party Transactions
Property management fees from related party	$ 444,300	$ 441,100	$ 384,900

Noncontrolling Interests on the Company's Consolidated Financial Statements (Details)	1 Months Ended			12 Months Ended
	Oct. 31, 2014 $ / shares shares	Aug. 31, 2014 $ / shares shares	Jan. 31, 2012 $ / shares shares	Dec. 31, 2014 USD ($) shares	Dec. 31, 2013 USD ($) shares	Dec. 31, 2012 USD ($)
Rollforward analysis of the activity relating to the noncontrolling interests in the operating partnership
Balance at beginning of period				$ 265,476,000
Distributions				(7,019,000)	$ (14,623,000)	$ (21,946,000)
Net income				18,467,000	3,023,000	5,597,000
Accumulated other comprehensive income allocation				175,000	611,000	(388,000)
Balance at end of period				$ 469,524,000	$ 265,476,000
SL Green Operating Partnership
Organization
Noncontrolling interest in the operating partnership (as a percent)				3.92%	2.96%
Number of units of operating partnership owned by the noncontrolling interest unit holders (shares) \| shares				3,973,016	2,902,317
Shares of common stock reserved for issuance upon redemption of units of limited partnership interest in operating partnership (shares) \| shares				3,973,016
Rollforward analysis of the activity relating to the noncontrolling interests in the operating partnership
Balance at beginning of period				$ 265,476,000	$ 212,907,000
Distributions				(7,849,000)	(4,146,000)
Issuance of common units				56,469,000	24,750,000
Redemption of common units				(31,653,000)	(17,287,000)
Net income				18,467,000	3,023,000
Accumulated other comprehensive income allocation				175,000	611,000
Fair value adjustment				168,439,000	45,618,000
Balance at end of period				$ 469,524,000	$ 265,476,000	$ 212,907,000
SL Green Operating Partnership \| Series G Preferred Units
Rollforward analysis of the activity relating to the noncontrolling interests in the operating partnership
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 F Preferred Units
Rollforward analysis of the activity relating to the noncontrolling interests in the operating partnership
Number of preferred units issued (in shares) \| shares				60
Mandatory liquidation preference				$ 1,000.00
SL Green Operating Partnership \| Series K Preferred Units
Rollforward analysis of the activity relating to the noncontrolling interests in the operating partnership
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
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
Preferred Units, Authorized \| shares		700,000
SL Green Operating Partnership \| Series L Preferred Units
Rollforward analysis of the activity relating to the noncontrolling interests in the operating partnership
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
Annual dividends on preferred units (in dollars per share) \| $ / shares		$ 1.00
Preferred Units, Authorized \| shares		500,000
SL Green Operating Partnership \| Series H Preferred Units
Rollforward analysis of the activity relating to the noncontrolling interests in the operating partnership
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	$ 0.05833

Stockholders' Equity of the Company (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2013	Dec. 31, 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	$ 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)		97,325,200
Excess shares issued (shares)		0
Excess shares outstanding (shares)		0
Issuance of common stock (shares)	2,600,000
Share Price	$ 95.94
Issuance of common stock	$ 248,900	$ 185,321	$ 290,699

Stockholders' Equity of the Company (Details 2) - USD ($)	1 Months Ended				3 Months Ended								6 Months Ended	12 Months Ended
	Nov. 30, 2013	Jun. 30, 2013	Sep. 30, 2012	Aug. 31, 2012	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2012	Jul. 31, 2011
Stockholders' Equity
Net proceeds from sale of common stock														$ 185,321,000	$ 290,699,000	$ 201,279,000
Issuance of common stock (shares)	2,600,000
Net proceeds from sale of preferred stock														0	0	221,965,000
Preferred stock redemption costs					$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 12,160,000	$ 0		$ 0	$ 12,160,000	10,010,000
Common stock, shares authorized (shares)					160,000,000				160,000,000					160,000,000	160,000,000
At-the-market equity offering programs
Stockholders' Equity
Aggregate value of the shares of common stock to be sold																		$ 250,000,000.0
Net proceeds from sale of common stock														$ 2,800,000
Issuance of common stock (shares)														25,659
New At-the-Market Equity offering programs
Stockholders' Equity
Aggregate value of the shares of common stock to be sold							$ 300,000,000.0
Net proceeds from sale of common stock														$ 182,900,000
Issuance of common stock (shares)														1,626,999
Series I Preferred Stock
Stockholders' Equity
Preferred stock, shares outstanding (shares)					9,200,000				9,200,000					9,200,000	9,200,000
Dividend rate preferred units (as a percent)														6.50%
Perpetual Preferred stock, liquidation preference (in dollars per share)					$ 25.00				$ 25.00					$ 25.00	$ 25.00
Perpetual Preferred stock, annual dividends per share (in dollars per share)														$ 1.625
Net proceeds from sale of preferred stock				$ 221,900,000
Series C Preferred Stock
Stockholders' Equity
Preferred stock, shares outstanding (shares)		7,700,000		11,700,000							7,700,000		7,700,000
Dividend rate preferred units (as a percent)		7.625%											7.625%
Perpetual Preferred stock, liquidation preference (in dollars per share)		$ 25.00									$ 25.00		$ 25.00
Perpetual Preferred stock, annual dividends per share (in dollars per share)		$ 0.3495	$ 0.3707										$ 1.90625
Preferred stock redemption costs		$ 12,200,000	$ 6,300,000
Preferred stock redeemed (in shares)			4,000,000
Preferred stock Redemption (in dollars per share)			$ 25.00
Dividend Reinvestment and Stock Purchase Plan (DRIP)
Stockholders' Equity
Net proceeds from sale of common stock														$ 63,720	$ 66,600	$ 99,600,000
Issuance of common stock (shares)														608	761	1,300,000
Common stock, shares authorized (shares)																	3,500,000

Stockholders' Equity of the Company (Details 3) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Basic Earnings:
Net income attributable to SL Green common stockholders	$ 56,787	$ 64,688	$ 235,539	$ 146,090	$ 37,120	$ 37,025	$ 8,276	$ 18,909	$ 503,104	$ 101,330	$ 155,984
Diluted Earnings:
Income attributable to SLGOP common unitholders									$ 521,571	$ 104,353	$ 161,581
Basic Shares:
Basic weighted average common shares outstanding (in shares)									95,774,000	92,269,000	89,319,000
Effect of Dilutive Securities:
Redemption of units to common shares (shares)									3,514,000	2,735,000	3,207,000
Stock-based compensation plans (in shares)									408,000	262,000	347,000
Diluted weighted average common stock outstanding (shares)									99,696,000	95,266,000	92,873,000
Common stock shares excluded from the diluted shares outstanding									737,361	964,789	627,000
Common Stock
Effect of Dilutive Securities:
Redemption of units to common shares									$ 18,467	$ 3,023	$ 5,597

Partners' Capital of the Operating Partnership (Details)	Dec. 31, 2014 shares	Dec. 31, 2013 shares	Dec. 31, 2012 shares	Dec. 31, 2011 shares
Common Stock
Stockholders' Equity
Units outstanding (units)	97,325,000	94,993,000	91,250,000	85,783,000
SL Green Operating Partnership
Stockholders' Equity
Noncontrolling interest in the operating partnership (as a percent)	3.92%	2.96%
Number of units of operating partnership owned by the noncontrolling interest unit holders (units)	3,973,016	2,902,317
SL Green Operating Partnership \| Series I Preferred Units
Stockholders' Equity
Units outstanding (units)	9,200,000
SL Green Operating Partnership \| Common Stock
Stockholders' Equity
Units outstanding (units)	97,325,200

Partners' Capital of the Operating Partnership-EPS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stockholders' Equity
Net income attributable to SL Green common stockholders	$ 56,787	$ 64,688	$ 235,539	$ 146,090	$ 37,120	$ 37,025	$ 8,276	$ 18,909	$ 503,104	$ 101,330	$ 155,984
Basic weighted average common shares outstanding (in shares)									95,774,000	92,269,000	89,319,000
Common stock shares excluded from the diluted shares outstanding									737,361	964,789	627,000
SL Green Operating Partnership
Stockholders' Equity
Net income attributable to SL Green common stockholders									$ 521,571	$ 104,353	$ 161,581
Basic weighted average common shares outstanding (in shares)									99,288,000	95,004,000	92,526,000
Stock-based compensation plans (shares)									408,000	262,000	347,000
Diluted weighted average common units outstanding (shares)									99,696,000	95,266,000	92,873,000
Common stock shares excluded from the diluted shares outstanding									737,361.000	964,789.000	627,000

Share-based Compensation (Details) - USD ($)	12 Months Ended
Share-based Compensation (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yield (as a percent)	1.60%	1.92%	2.00%
Expected life of option	3 years 7 months 6 days	4 years 1 month 6 days	3 years 8 months 12 days
Risk-free interest rate (as a percent)	1.29%	0.96%	0.46%
Expected stock price volatility (as a percent)	33.97%	36.12%	37.40%
Options Outstanding
Balance at beginning of year (in shares)	1,765,034	1,201,000	1,277,200
Granted (in shares)	102,050	828,100	361,331
Exercised (in shares)	(348,156)	(223,531)	(382,612)
Lapsed or cancelled (in shares)	(56,202)	(40,535)	(54,919)
Balance at end of period (in shares)	1,462,726	1,765,034	1,201,000
Options exercisable at end of period (in shares)	428,951	461,458	479,913
Weighted average fair value of award granted during the year	$ 2,841,678	$ 18,041,576	$ 6,602,967
Weighted Average Exercise Price
Balance at beginning of year (in dollars per share)	$ 83.24	$ 75.05	$ 63.37
Granted (in dollars per share)	119.12	87.23	75.36
Exercised (in dollars per share)	72.76	53.93	36.65
Lapsed or cancelled (in dollars per share)	90.03	83.94	72.99
Balance at end of period (in dollars per share)	87.98	83.24	75.05
Options exercisable at end of period (in dollars per share)	$ 90.32	$ 89.38	$ 86.85
Restricted Stock Awards
Options Outstanding
Weighted average fair value of award granted during the year	$ 1,141,675	$ 17,386,949	$ 7,023,942
Summary of restricted stock
Balance at beginning of year (in shares)	2,994,197	2,804,901	2,912,456
Granted (in shares)	9,550	192,563	92,729
Cancelled (in shares)	(2,768)	(3,267)	(200,284)
Balance at end of period (in shares)	3,000,979	2,994,197	2,804,901
Vested during the period (in shares)	75,043	21,074	408,800
Compensation expense recorded	$ 9,658,019	$ 6,713,155	$ 6,930,381

Share-based Compensation-Additional Information (Details)	1 Months Ended	3 Months Ended	12 Months Ended
	Sep. 30, 2014 shares	Mar. 31, 2014	Dec. 31, 2014 USD ($) fungibleunits $ / shares shares	Dec. 31, 2013 USD ($) shares	Dec. 31, 2012 USD ($) shares	Sep. 01, 2014	Aug. 31, 2014 shares	Jun. 30, 2014 shares	Dec. 11, 2013	Dec. 17, 2012	Dec. 31, 2011 shares	Aug. 31, 2011 USD ($)	Dec. 31, 2010 shares	Jan. 31, 2008 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of the plan, subject to adjustment for forfeitures			$ 6,800,000	$ 4,500,000	$ 4,100,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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 22 days
Remaining weighted average contractual life of the options exercisable			3 years 9 months 28 days
Total unrecognized compensation cost related to unvested stock awards			$ 14,100,000
Weighted average period for recognition of compensation cost related to unvested stock awards			3 years
Weighted average fair value of award granted during the year			$ 2,841,678	18,041,576	6,602,967
Stock options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period			5 years
Options vesting period			1 year
Stock options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period			10 years
Options vesting period			5 years
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ 9,658,019	6,713,155	6,930,381
Total unrecognized compensation cost related to unvested stock awards			$ 11,700,000
Weighted average period for recognition of compensation cost related to unvested stock awards			2 years 1 month
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			$ 5,500,000	1,600,000	22,400,000
Weighted average fair value of award granted during the year			$ 1,141,675	$ 17,386,949	$ 7,023,942
Awards granted (in shares) \| shares			9,550	192,563	92,729
Awards outstanding (in shares) \| shares			3,000,979	2,994,197	2,804,901						2,912,456
LTIP units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of award granted during the year			$ 33,200,000.0	$ 27,100,000.0	$ 0
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to unvested stock awards			$ 7,100,000
Weighted average period for recognition of compensation cost related to unvested stock awards			1 year 6 months
Share-based Compensation			$ 31,400,000	27,300,000	12,600,000
2010 Notional Unit Long-Term Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			2,700,000	4,500,000	$ 10,700,000
Cost of the plan, subject to adjustment for forfeitures			31,700,000
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					327,416						385,583		366,815
Percentage of LTIP Units earned, vested on December 17, 2012 (percent)									25.00%	50.00%
2010 Notional Unit Long-Term Compensation Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum fungible units that may be granted (in shares) \| fungibleunits			17,130,000
Fungible units per share (fungible units)			2.76
Shares that may be issued if equal to fungible units (shares) \| shares			17,130,000
Fungible units \| shares			2,600,000
Third Amendment and Restated 2005 Stock Option and Incentive Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ 8,100,000	6,500,000	$ 5,100,000
Stock options, stock appreciation rights and other awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fungible units per share (fungible units)			0.77
Award expiration period			5 years
All other awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fungible units per share (fungible units)			1.0
Award expiration period			10 years
2011 Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ 8,600,000	$ 8,000,000	$ 5,500,000
Cost of the plan, subject to adjustment for forfeitures			$ 27,000,000
Approximate amount of LTIP units that may be earned by the recipients based on stock price appreciation												$ 85,000,000
LTIP units earned (in shares) \| shares	280,454							560,908
Value of LTIP Units that could be earned expressed as percentage of outperformance amount in excess of the 30% benchmark (percent)												10.00%
Duration period return to stockholders exceeds 25%			3 years
Cumulative return to stockholders (percent)			25.00%
Return to stockholders			$ 85,000,000.0
Portion of earned LTIP Units vested			one-third
Percentage of LTIP Units earned, vesting on August 31, 2014 (percent)			50.00%
Percentage of LTIP Units earned, vesting on August 31, 2015 (percent)			50.00%
2014 Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ 200,000
Cost of the plan, subject to adjustment for forfeitures			17,100,000
LTIP units earned (in shares) \| shares							610,000
Award period	3 years
Percentage awarded						0.6667
Deferred Stock Compensation Plan for Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ 1,600,000
Maximum percentage of the annual retainer fee, chairman fees and meeting fees that may be deferred by non-employee directors (percent)			100.00%
Awards granted (in shares) \| shares			9,305
Shares issued (in shares) \| shares			7,701
Awards outstanding (in shares) \| shares			75,649
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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%
Shares of common stock issued (shares) \| shares			80,437
Share-based compensation award, tranche 3 \| 2014 Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested			50.00%
Share-based compensation award, tranche 4 \| 2014 Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested			50.00%
Period One Vesting \| 2011 Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested			33.33%
Period Two Vesting \| 2011 Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested			66.67%

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

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

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

Beginning Balance

$ (15,211)

Ending Balance

(6,980)

$ (15,211)

Deferred net losses from terminated hedges

11,800

13,800

$ 15,000

SL Green Realty Corp

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

Beginning Balance

(15,211)

(29,587)

(28,445)

Other comprehensive loss before reclassifications

(421)

7,573

(15,101)

Amounts reclassified from accumulated other comprehensive income

8,652

6,803

13,959

Ending Balance

(6,980)

(15,211)

(29,587)

SL Green Realty Corp | Net unrealized loss on derivative instruments

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

Beginning Balance

^[1]

(15,125)

(16,834)

(17,510)

Other comprehensive loss before reclassifications

^[1]

(576)

(168)

(1,124)

Amounts reclassified from accumulated other comprehensive income

^[1]

6,203

1,877

1,800

Ending Balance

^[1]

(9,498)

(15,125)

(16,834)

SL Green Realty Corp | Unrealized gain and (loss) on marketable securities

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

Beginning Balance

4,784

3,310

6,466

Other comprehensive loss before reclassifications

(2,692)

1,474

(4,879)

Amounts reclassified from accumulated other comprehensive income

521

1,723

Ending Balance

2,613

4,784

3,310

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

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

Beginning Balance

^[2]

(4,870)

(16,063)

(17,401)

Other comprehensive loss before reclassifications

^[2]

2,847

6,267

(9,098)

Amounts reclassified from accumulated other comprehensive income

^[2]

1,928

4,926

10,436

Ending Balance

^[2]

$ (95)

$ (4,870)

$ (16,063)

[1]

[2]

Amount reclassified from accumulated other comprehensive income (loss) is 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

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

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

Beginning Balance

$ (15,211)

Ending Balance

(6,980)

$ (15,211)

Deferred net losses from terminated hedges

11,800

13,800

$ 15,000

SL Green Operating Partnership

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

Beginning Balance

(15,662)

(30,649)

(29,119)

Other comprehensive loss before reclassifications

(564)

7,982

(15,991)

Amounts reclassified from accumulated other comprehensive income

8,970

7,005

14,461

Ending Balance

(7,256)

(15,662)

(30,649)

Deferred net losses from terminated hedges

12,200

14,200

15,500

Unrealized gain and (loss) on marketable securities | SL Green Operating Partnership

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

Beginning Balance

^[1]

(15,573)

(17,438)

(18,391)

Other comprehensive loss before reclassifications

^[1]

(703)

(68)

(912)

Amounts reclassified from accumulated other comprehensive income

^[1]

6,431

1,933

1,865

Ending Balance

^[1]

(9,845)

(15,573)

(17,438)

Net unrealized loss on derivative instruments | SL Green Operating Partnership

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

Beginning Balance

4,926

3,429

7,086

Other comprehensive loss before reclassifications

(2,777)

1,497

(5,442)

Amounts reclassified from accumulated other comprehensive income

540

1,785

Ending Balance

2,689

4,926

3,429

Joint venture | Unrealized gain and (loss) on marketable securities | SL Green Operating Partnership

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

Beginning Balance

^[2]

(5,015)

(16,640)

(17,814)

Other comprehensive loss before reclassifications

^[2]

2,916

6,553

(9,637)

Amounts reclassified from accumulated other comprehensive income

^[2]

1,999

5,072

10,811

Ending Balance

^[2]

$ (100)

$ (5,015)

$ (16,640)

[1]	(1)Amount reclassified from accumulated other comprehensive income (loss) is included in interest expense in the respective consolidated statements of income. As of December 31, 2014, 2013 and 2012, the deferred net losses from these terminated hedges, which is included in accumulated other comprehensive loss relating to net unr
[2]	Amount reclassified from accumulated other comprehensive income (loss) is 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

Dec. 31, 2014

Dec. 31, 2013

Fair Value of Financial Instruments

Marketable securities

$ 39,429

$ 32,049

Interest rate swap agreements (included in other assets)

2,174

Interest rate swap agreements (included in accrued interest payable and other liabilities)

14,728

1,329

Carrying Value, Net of Discounts and Deferred Origination Fees

1,408,804

1,304,839

Carrying Value

Fair Value of Financial Instruments

Fixed rate debt

6,140,786

5,599,960

Variable rate debt

2,291,943

1,319,948

Total

8,432,729

6,919,908

Fair Value

Fair Value of Financial Instruments

Total

8,881,188

7,214,402

Estimated fair value of debt and preferred equity investments, low end of range

1,500,000

1,300,000

Estimated fair value of debt and preferred equity investments, high end of range

1,800,000

1,400,000

Level 1

Fair Value of Financial Instruments

Marketable securities

4,332

4,307

Interest rate swap agreements (included in other assets)

Interest rate swap agreements (included in accrued interest payable and other liabilities)

Level 2

Fair Value of Financial Instruments

Marketable securities

35,097

24,419

Interest rate swap agreements (included in other assets)

2,174

Interest rate swap agreements (included in accrued interest payable and other liabilities)

14,728

1,329

Level 3

Fair Value of Financial Instruments

Marketable securities

3,323

Interest rate swap agreements (included in other assets)

Interest rate swap agreements (included in accrued interest payable and other liabilities)

Level 3 | Carrying Value

Fair Value of Financial Instruments

Carrying Value, Net of Discounts and Deferred Origination Fees

^[1]

1,408,804

1,304,839

Level 3 | Fair Value

Fair Value of Financial Instruments

Fixed rate debt

6,565,236

5,886,980

Variable rate debt

$ 2,315,952

$ 1,327,422

[1]	At December 31, 2014, debt and preferred equity investments had an estimated fair value ranging between $1.5 billion and $1.8 billion. 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 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Financial Instruments: Derivatives and Hedging
Fair Value	$ 2,174
Fair Value	(14,728)	$ (1,329)
Derivative, Fair Value, Net	(12,554)
Loss from settlement of hedges included in accumulated other comprehensive loss	61	16	$ 770
Fair value of derivatives in a net liability position	13,400
Aggregate termination value	13,400
Estimated current balance held in accumulated other comprehensive loss to be reclassified into earnings within the next 12 months	9,400
Share of joint venture of accumulated other comprehensive loss reclassified into equity in net income from unconsolidated joint ventures within the next 12 months	1,200
Amount of (Loss) or Gain Recognized in Other Comprehensive Loss (Effective Portion)	2,213	6,485	(10,549)
Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	8,430	7,005	12,676
Amount of Gain Recognized into Income (Ineffective Portion)	4	3	3
Level 2
Financial Instruments: Derivatives and Hedging
Fair Value	2,174
Fair Value	(14,728)	(1,329)
Joint venture
Financial Instruments: Derivatives and Hedging
Amount of (Loss) or Gain Recognized in Other Comprehensive Loss (Effective Portion)	2,916	6,553	(9,637)
Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	1,999	5,072	10,811
Amount of Gain Recognized into Income (Ineffective Portion)	0	0	0
Interest Rate Cap- Sold Expiring in May 2016
Financial Instruments: Derivatives and Hedging
Notional Value	$ 504,000
Strike Rate (as a percent)	4.75%
Fair Value	$ 4
Interest Rate Cap Expiring in May 2016
Financial Instruments: Derivatives and Hedging
Notional Value	$ 504,000
Strike Rate (as a percent)	4.75%
Fair Value	$ (4)
Interest Rate Cap Expiring In May 2016
Financial Instruments: Derivatives and Hedging
Notional Value	$ 500,000
Strike Rate (as a percent)	4.75%
Fair Value	$ 4
Interest Rate Cap- Sold Expiring in May 2016
Financial Instruments: Derivatives and Hedging
Notional Value	$ 500,000
Strike Rate (as a percent)	4.75%
Fair Value	$ (4)
Interest Rate Cap Expiring In May 2016
Financial Instruments: Derivatives and Hedging
Notional Value	$ 446,000
Strike Rate (as a percent)	4.75%
Fair Value	$ 3
Interest Rate Cap Expiring in November, 2015
Financial Instruments: Derivatives and Hedging
Notional Value	$ 263,426
Strike Rate (as a percent)	6.00%
Fair Value	$ 0
Interest Rate Cap Expiring in September 2015
Financial Instruments: Derivatives and Hedging
Notional Value	$ 137,500
Strike Rate (as a percent)	4.00%
Fair Value	$ 0
Interest Rate Swap
Financial Instruments: Derivatives and Hedging
Amount of (Loss) or Gain Recognized in Other Comprehensive Loss (Effective Portion)	(703)	(68)	(912)
Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	6,431	1,933	1,865
Amount of Gain Recognized into Income (Ineffective Portion)	4	$ 3	3
Interest Rate Swap Expiring in December 2017
Financial Instruments: Derivatives and Hedging
Notional Value	$ 200,000
Strike Rate (as a percent)	0.9375%
Fair Value	$ 871
Interest Rate Swap Expiring in December 2017
Financial Instruments: Derivatives and Hedging
Notional Value	$ 150,000
Strike Rate (as a percent)	0.94%
Fair Value	$ 647
Interest Rate Swap Expiring in December 2017
Financial Instruments: Derivatives and Hedging
Notional Value	$ 150,000
Strike Rate (as a percent)	0.94%
Fair Value	$ 645
Interest Rate Swap Expiring in December 2017
Financial Instruments: Derivatives and Hedging
Notional Value	$ 144,000
Strike Rate (as a percent)	2.236%
Fair Value	$ (4,757)
Interest Rate Swap Expiring in December 2017
Financial Instruments: Derivatives and Hedging
Notional Value	$ 86,400
Strike Rate (as a percent)	1.9475%
Fair Value	$ (2,124)
Interest Rate Swap Expiring in December 2017
Financial Instruments: Derivatives and Hedging
Notional Value	$ 72,000
Strike Rate (as a percent)	2.31%
Fair Value	$ (2,533)
Interest Rate Swap Expiring in December 2017
Financial Instruments: Derivatives and Hedging
Notional Value	$ 72,000
Strike Rate (as a percent)	1.345%
Fair Value	$ (506)
Interest Rate Swap Expiring in December 2017
Financial Instruments: Derivatives and Hedging
Notional Value	$ 72,000
Strike Rate (as a percent)	2.31%
Fair Value	$ (2,534)
Interest Rate Swap Expiring in December 2017
Financial Instruments: Derivatives and Hedging
Notional Value	$ 57,600
Strike Rate (as a percent)	1.99%
Fair Value	$ (1,487)
Interest Rate Swap Expiring in June 2016
Financial Instruments: Derivatives and Hedging
Notional Value	$ 30,000
Strike Rate (as a percent)	2.295%
Fair Value	$ (774)
Interest Rate Swap Expiring in February, 2015
Financial Instruments: Derivatives and Hedging
Notional Value	$ 8,500
Strike Rate (as a percent)	0.74%
Fair Value	$ (5)
Interest Rate Swap Expiring in February, 2015 \| Level 2
Financial Instruments: Derivatives and Hedging
Loss from settlement of hedges included in accumulated other comprehensive loss			$ (700)

Rental Income (Details) $ in Thousands	Dec. 31, 2014 USD ($)
Consolidated properties
Approximate future minimum rents to be received over the next five years and thereafter for non-cancelable operating leases
2015	$ 975,025
2016	964,428
2017	941,014
2018	879,727
2019	799,744
Thereafter	5,774,406
Total minimum lease payments	10,334,344
Unconsolidated properties
Approximate future minimum rents to be received over the next five years and thereafter for non-cancelable operating leases
2015	157,438
2016	157,514
2017	152,226
2018	146,605
2019	134,451
Thereafter	699,568
Total minimum lease payments	$ 1,447,802

Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
Benefit Plans (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2000
Multi-employer plans
Plan contributions	$ 17,115	$ 17,293	$ 16,551
401 (K) Plan
Employee contribution limit per calendar year (percent)	15.00%
Employer match of employee contributions of first specified percentage of annual compensation (percent)	50.00%	50.00%	50.00%	50.00%
Percentage of eligible compensation matched by employer (percent)	6.00%	6.00%	6.00%	4.00%
Matching contribution	$ 550	$ 550	$ 561
Pension Plan
Multi-employer plans
Plan contributions	$ 224,500	221,900	212,700
Health Plan
Multi-employer plans
Plan contributions		923,500	893,300
Contributions by company (less than)	5.00%
Pension Plan
Multi-employer plans
Plan contributions	$ 2,807	2,765	2,506
Health Plan
Multi-employer plans
Plan contributions	8,470	8,522	8,020
Other plans
Multi-employer plans
Plan contributions	$ 5,838	$ 6,006	$ 6,025

Commitments and Contingencies (Details) $ in Millions	10 Months Ended	12 Months Ended
Commitments and Contingencies (Details) $ in Millions	Oct. 31, 2012 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Commitments and Contingencies.
Employment agreements with certain executives, minimum cash-based compensation for next fiscal year		$ 4.6
Employment agreements with certain executives, grant date value of deferred compensation awards		$ 1.3
Number of property insurance portfolios for which all-risk property and rental value coverage is maintained (portfolio)		3
TRIPRA 2015
Commitments and Contingencies.
Program trigger		$ 100.0
Per annum increase		20.0
Belmont
Commitments and Contingencies.
Loss reserves		6.1	$ 7.0
Property and rental value coverage
Commitments and Contingencies.
Blanket limit per occurrence maintained under first property portfolio (up to $950 million)		950.0
Limit per occurrence maintained under property portfolio		700.0
Amount of flood coverage (up to $100 million)		100.0
Limit per occurrence and in aggregate per location under liability policies (up to $201 million)	$ 201.0
Residential assets coverage
Commitments and Contingencies.
Limit per occurrence maintained under property portfolio		$ 380.0

Commitments and Contingencies (Details 2) $ in Thousands	1 Months Ended		12 Months Ended
Commitments and Contingencies (Details 2) $ in Thousands	Oct. 31, 2012 USD ($)	Jul. 31, 2011	Dec. 31, 2014 USD ($) extenstion_option	Dec. 31, 2013 USD ($)
Commitments and Contingencies
Cost basis			$ 27,445	$ 50,310
420 Lexington Avenue
Commitments and Contingencies
Number of renewal options available (extension option) \| extenstion_option			2
Annual ground lease payments through December 2019			$ 10,900
Annual ground lease payments through December 2029			11,200
Annual ground lease payments due thereafter			$ 12,300
Value of land as a percentage of the fair market value of the property (percent)			6.00%
1080 Amsterdam Avenue
Commitments and Contingencies
Value of land as a percentage of the fair market value of the property (percent)	40.00%
Prepayment of ground lease rent	$ 13,000
Cost basis			$ 27,400
Cumulative amortization			$ 400
711 Third Avenue
Commitments and Contingencies
Percentage of fee not owned by the entity (percent)		50.00%
461 Fifth Avenue
Commitments and Contingencies
Number of renewal options available (extension option) \| extenstion_option			2
Required annual ground lease payments			$ 2,100
Term of first renewal option			21 years
Term of second renewal option			21 years
Term of third renewal option			15 years
625 Madison Avenue
Commitments and Contingencies
Number of renewal options available (extension option) \| extenstion_option			2
Required annual ground lease payments			$ 4,600
Term of first renewal option			23 years
Term of second renewal option			23 years
1185 Avenue of the Americas
Commitments and Contingencies
Required annual ground lease payments			$ 6,900
Term of first renewal option			23 years
Through July 2016 \| 711 Third Avenue
Commitments and Contingencies
Required annual ground lease payments			$ 5,250
After July 2016 \| 711 Third Avenue
Commitments and Contingencies
Required annual ground lease payments			$ 5,500

Commitments and Contingencies (Details 3) $ in Thousands	12 Months Ended
Commitments and Contingencies (Details 3) $ in Thousands	Dec. 31, 2014 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Initial term of non cancellable operating leases, minimum	1 year
Capital lease
2015	$ 145
2016	170
2017	291
2018	291
2019	315
Thereafter	56,569
Total minimum lease payments	57,781
Less amount representing interest	(36,959)
Capital lease obligations	20,822
Non-cancellable operating leases
2015	30,491
2016	30,612
2017	30,845
2018	30,845
2019	30,862
Thereafter	720,698
Total minimum lease payments	$ 874,353

Segment Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
Segment Information (Details) $ in Thousands	Dec. 31, 2014 USD ($)	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Sep. 30, 2013 USD ($)	Jun. 30, 2013 USD ($)	Mar. 31, 2013 USD ($)	Dec. 31, 2014 USD ($) segment	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)
Segment information
Number of reportable segments (segment) \| segment									2
Total revenues	$ 386,627	$ 390,274	$ 380,631	$ 362,446	$ 350,451	$ 338,782	$ 340,888	$ 340,944	$ 1,519,978	$ 1,371,065	$ 1,290,052
Income from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate and purchase price fair value adjustment									173,030	109,400	133,780
Total assets	17,096,587				14,959,001				$ 17,096,587	14,959,001
Leverage rate assumption (as a percent)									100.00%
Marketing, general and administrative expenses and transaction related costs									$ 92,500	86,200	82,800
Real Estate Segment
Segment information
Total revenues									1,341,163	1,177,222	1,170,897
Income from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate and purchase price fair value adjustment									22,178	(49,793)	41,366
Total assets	15,671,662				13,641,727				15,671,662	13,641,727
Debt and Preferred Equity Segment
Segment information
Total revenues									178,815	193,843	119,155
Income from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate and purchase price fair value adjustment									150,852	159,193	$ 92,414
Total assets	$ 1,424,925				$ 1,317,274				$ 1,424,925	$ 1,317,274

Segment Information (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Segment Information (Details 2) - USD ($) $ in Thousands	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of income from continuing operations to net income attributable to SL Green common stockholders
Income from continuing operations before equity in net gain on sale of interest in unconsolidated joint venture/real estate and purchase price fair value adjustment									$ 173,030	$ 109,400	$ 133,780
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	$ 673	$ 16,496	$ 1,444	$ 104,640	$ 7,538	$ (354)	$ (3,583)	$ 0	123,253	3,601	37,053
Purchase price fair value adjustment									67,446	(2,305)	0
Income from continuing operations									363,729	110,696	170,833
Net income from discontinued operations	3,626	4,035	5,645	5,769	5,836	7,435	5,943	6,473	19,075	25,687	32,240
Gain on sale of discontinued operations	$ 18,817	$ 29,507	$ 114,735	$ 0	$ 0	$ 13,787	$ 0	$ 1,113	163,059	14,900	6,627
Net income									$ 545,863	$ 151,283	$ 209,700

Quarterly Financial Data (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Condensed Financial Statements, Captions [Line Items]
Total revenues	$ 386,627	$ 390,274	$ 380,631	$ 362,446	$ 350,451	$ 338,782	$ 340,888	$ 340,944	$ 1,519,978	$ 1,371,065	$ 1,290,052
Income from continuing before equity in net gain on sale of interest in unconsolidated joint venture/real estate, purchase price fair value adjustment, (loss) gain on early extinguishment of debt, loss on sale of investment in marketable securities, net of noncontrolling interests	40,379	46,863	47,035	39,416	27,478	19,895	27,398	37,300	174,963	118,062	59,400
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	673	16,496	1,444	104,640	7,538	(354)	(3,583)	0	123,253	3,601	37,053
Purchase price fair value adjustment	0	(4,000)	71,446	0	0	0	(2,305)	0	65,059	(2,239)	0
(Loss) gain on early extinguishment of debt	(6,865)	(24,475)	(1,028)	3	5	0	(10)	(18,513)	(32,365)	(18,518)	(6,978)
Gain (loss) on sale of investment in marketable securities	3,895	0	0	0	0	0	(8)	(57)	3,895	(65)	4,940
Net income (loss) from discontinued operations	3,626	4,035	5,645	5,769	5,836	7,435	5,943	6,473	19,075	25,687	32,240
Gain on sale of discontinued operations	18,817	29,507	114,735	0	0	13,787	0	1,113	163,059	14,900	6,627
Net income attributable to SL Green	60,525	68,426	239,277	149,828	40,857	40,763	27,435	26,316	518,056	135,371	196,405
Preferred stock redemption costs	0	0	0	0	0	0	(12,160)	0	0	(12,160)	(10,010)
Perpetual preferred stock dividends	(3,738)	(3,738)	(3,738)	(3,738)	(3,737)	(3,738)	(6,999)	(7,407)	(14,952)	(21,881)	(30,411)
Net income attributable to SL Green common stockholders	$ 56,787	$ 64,688	$ 235,539	$ 146,090	$ 37,120	$ 37,025	$ 8,276	$ 18,909	$ 503,104	$ 101,330	$ 155,984
Net income per common share-Basic (usd per share)	$ 0.59	$ 0.68	$ 2.47	$ 1.54	$ 0.39	$ 0.40	$ 0.09	$ 0.21	$ 5.25	$ 1.10	$ 1.75
Net income per common share-Diluted (usd per share)	$ 0.59	$ 0.68	$ 2.46	$ 1.53	$ 0.39	$ 0.40	$ 0.09	$ 0.21	$ 5.23	$ 1.10	$ 1.74
SL Green Operating Partnership
Condensed Financial Statements, Captions [Line Items]
Total revenues	$ 386,627	$ 390,274	$ 380,631	$ 362,446	$ 350,451	$ 338,782	$ 340,888	$ 340,944	$ 1,519,978	$ 1,371,065	$ 1,290,052
Income from continuing before equity in net gain on sale of interest in unconsolidated joint venture/real estate, purchase price fair value adjustment, (loss) gain on early extinguishment of debt, loss on sale of investment in marketable securities, net of noncontrolling interests	42,837	49,499	55,680	44,144	28,592	21,005	27,642	37,855	174,963	118,062	59,400
Equity in net gain on sale of interest in unconsolidated joint venture/real estate	673	16,496	1,444	104,640	7,538	(354)	(3,583)	0	123,253	3,601	37,053
Purchase price fair value adjustment	0	(4,000)	71,446	0	0	0	(2,305)	0
(Loss) gain on early extinguishment of debt	(6,865)	(24,475)	(1,028)	3	5	0	(10)	(18,513)	(32,365)	(18,518)	(6,978)
Gain (loss) on sale of investment in marketable securities	3,895	0	0	0	0	0	(8)	(57)	3,895	(65)	4,940
Net income (loss) from discontinued operations	3,626	4,035	5,645	5,769	5,836	7,435	5,943	6,473	19,075	25,687	32,240
Gain on sale of discontinued operations	18,817	29,507	114,735	0	0	13,787	0	1,113	163,059	14,900	6,627
Net income attributable to SL Green	62,983	71,062	247,922	154,556	41,971	41,873	27,679	26,871	536,523	138,394	202,002
Preferred stock redemption costs	0	0	0	0	0	0	(12,160)	0
Perpetual preferred stock dividends	(3,738)	(3,738)	(3,738)	(3,738)	(3,737)	(3,738)	(6,999)	(7,407)
Net income attributable to SLGOP common unitholders	$ 59,245	$ 67,324	$ 244,184	$ 150,818	$ 38,234	$ 38,135	$ 8,520	$ 19,464	$ 521,571	$ 104,353	$ 161,581
Net income per common share-Basic (usd per share)	$ 0.59	$ 0.68	$ 2.47	$ 1.54	$ 0.39	$ 0.40	$ 0.09	$ 0.21
Net income per common share-Diluted (usd per share)	$ 0.59	$ 0.68	$ 2.46	$ 1.53	$ 0.39	$ 0.40	$ 0.09	$ 0.21

Subsequent Events (Details) - USD ($)	1 Months Ended		12 Months Ended
Subsequent Events (Details) - USD ($)	Jan. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 30, 2014	Nov. 30, 2012
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity							$ 1,600,000,000.0
Net proceeds from sale of common stock			$ 185,321,000	$ 290,699,000	$ 201,279,000
Term loan
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity		$ 783,000,000	833,000,000			$ 833,000,000
Decrease in basis points		0.25%
Term loan \| Subsequent Event
Subsequent Event [Line Items]
Decrease in basis points	0.20%
Facility fee	0.05%
At-the-market equity offering programs
Subsequent Event [Line Items]
Net proceeds from sale of common stock			$ 2,800,000
At-the-market equity offering programs \| Subsequent Event
Subsequent Event [Line Items]
Aggregate gross proceeds from shares sold	$ 895,956
Net proceeds from sale of common stock	$ 113,400,000

Schedule II-Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Tenant and other receivables—allowance
Changes in valuation allowance
Balance at Beginning of Year	$ 17,325	$ 14,341	$ 11,326
Additions Charged Against Operations	13,533	13,425	17,232
Uncollectible Accounts Written-off/Recovery	(12,790)	(10,441)	(14,217)
Balance at End of Year	18,068	17,325	14,341
Deferred rent receivable—allowance
Changes in valuation allowance
Balance at Beginning of Year	30,333	29,580	29,156
Additions Charged Against Operations	4,140	7,563	7,153
Uncollectible Accounts Written-off/Recovery	(7,062)	(6,810)	(6,729)
Balance at End of Year	$ 27,411	$ 30,333	$ 29,580

Schedule III-Real Estate And Accumulated Depreciation (Details) - USD ($)
$ in Thousands

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Real Estate And Accumulated Depreciation

Encumbrances

$ 5,466,709

Initial Cost

Land

3,685,380

Building & Improvements

8,919,315

Cost Capitalized Subsequent To Acquisition

Land

159,138

Building & Improvements

1,305,308

Gross Amount at Which Carried at Close of Period

Land

3,844,518

Building & Improvements

10,224,623

Total

14,069,141

$ 12,333,780

$ 11,662,953

$ 11,147,151

Accumulated Depreciation

1,905,165

$ 1,646,240

$ 1,393,323

$ 1,136,603

420 Lexington Avenue

Real Estate And Accumulated Depreciation

Encumbrances

^[1]

300,000

Initial Cost

Building & Improvements

^[1]

107,832

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

221,171

Gross Amount at Which Carried at Close of Period

Building & Improvements

^[1]

329,003

Total

^[1]

329,003

Accumulated Depreciation

^[1]

107,652

711 Third Avenue

Real Estate And Accumulated Depreciation

Encumbrances

^[1],[2]

120,000

Initial Cost

Land

^[1],[2]

19,844

Building & Improvements

^[1],[2]

42,499

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1],[2]

40,907

Gross Amount at Which Carried at Close of Period

Land

^[1],[2]

19,844

Building & Improvements

^[1],[2]

83,406

Total

^[1],[2]

103,250

Accumulated Depreciation

^[1],[2]

$ 30,035

Interest in property (as a percent)

50.00%

555 W. 57th Street

Initial Cost

Land

^[1]

$ 18,846

Building & Improvements

^[1]

78,704

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

47,933

Gross Amount at Which Carried at Close of Period

Land

^[1]

18,846

Building & Improvements

^[1]

126,637

Total

^[1]

145,483

Accumulated Depreciation

^[1]

48,659

317 Madison Avenue

Initial Cost

Land

^[1]

21,205

Building & Improvements

^[1]

85,559

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

35,572

Gross Amount at Which Carried at Close of Period

Land

^[1]

21,205

Building & Improvements

^[1]

121,131

Total

^[1]

142,336

Accumulated Depreciation

^[1]

53,779

220 East 42nd Street

Real Estate And Accumulated Depreciation

Encumbrances

^[1]

275,000

Initial Cost

Land

^[1]

50,373

Building & Improvements

^[1]

203,727

Cost Capitalized Subsequent To Acquisition

Land

^[1]

635

Building & Improvements

^[1]

57,876

Gross Amount at Which Carried at Close of Period

Land

^[1]

51,008

Building & Improvements

^[1]

261,603

Total

^[1]

312,611

Accumulated Depreciation

^[1]

81,045

461 Fifth Avenue

Initial Cost

Building & Improvements

^[1]

62,695

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

9,626

Gross Amount at Which Carried at Close of Period

Building & Improvements

^[1]

72,321

Total

^[1]

72,321

Accumulated Depreciation

^[1]

21,838

750 Third Avenue

Initial Cost

Land

^[1]

51,093

Building & Improvements

^[1]

205,972

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

35,951

Gross Amount at Which Carried at Close of Period

Land

^[1]

51,093

Building & Improvements

^[1]

241,923

Total

^[1]

293,016

Accumulated Depreciation

^[1]

70,362

625 Madison Avenue

Initial Cost

Building & Improvements

^[1]

246,673

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

35,576

Gross Amount at Which Carried at Close of Period

Building & Improvements

^[1]

282,249

Total

^[1]

282,249

Accumulated Depreciation

^[1]

77,982

485 Lexington Avenue

Real Estate And Accumulated Depreciation

Encumbrances

^[1]

450,000

Initial Cost

Land

^[1]

77,517

Building & Improvements

^[1]

326,825

Cost Capitalized Subsequent To Acquisition

Land

^[1]

765

Building & Improvements

^[1]

89,417

Gross Amount at Which Carried at Close of Period

Land

^[1]

78,282

Building & Improvements

^[1]

416,242

Total

^[1]

494,524

Accumulated Depreciation

^[1]

127,566

609 Fifth Avenue

Initial Cost

Land

^[1]

36,677

Building & Improvements

^[1]

145,954

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

7,814

Gross Amount at Which Carried at Close of Period

Land

^[1]

36,677

Building & Improvements

^[1]

153,768

Total

^[1]

190,445

Accumulated Depreciation

^[1]

32,939

120 West 45th Street

Real Estate And Accumulated Depreciation

Encumbrances

^[1]

170,000

Initial Cost

Land

^[1]

60,766

Building & Improvements

^[1]

250,922

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

22,227

Gross Amount at Which Carried at Close of Period

Land

^[1]

60,766

Building & Improvements

^[1]

273,149

Total

^[1]

333,915

Accumulated Depreciation

^[1]

58,601

810 Seventh Avenue

Initial Cost

Land

^[1]

114,077

Building & Improvements

^[1]

476,386

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

54,441

Gross Amount at Which Carried at Close of Period

Land

^[1]

114,077

Building & Improvements

^[1]

530,827

Total

^[1]

644,904

Accumulated Depreciation

^[1]

114,957

919 Third Avenue

Real Estate And Accumulated Depreciation

Encumbrances

^[1],[3]

500,000

Initial Cost

Land

^[1],[3]

223,529

Building & Improvements

^[1],[3]

1,033,198

Cost Capitalized Subsequent To Acquisition

Land

^[1],[3]

35,410

Building & Improvements

^[1],[3]

22,564

Gross Amount at Which Carried at Close of Period

Land

^[1],[3]

258,939

Building & Improvements

^[1],[3]

1,055,762

Total

^[1],[3]

1,314,701

Accumulated Depreciation

^[1],[3]

$ 216,685

Interest in property (as a percent)

51.00%

1185 Avenue of the Americas

Initial Cost

Building & Improvements

^[1]

$ 728,213

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

35,260

Gross Amount at Which Carried at Close of Period

Building & Improvements

^[1]

763,473

Total

^[1]

763,473

Accumulated Depreciation

^[1]

175,368

1350 Avenue of the Americas

Initial Cost

Land

^[1]

91,038

Building & Improvements

^[1]

380,744

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

29,132

Gross Amount at Which Carried at Close of Period

Land

^[1]

91,038

Building & Improvements

^[1]

409,876

Total

^[1]

500,914

Accumulated Depreciation

^[1]

90,325

1100 King Street - 1-7 International Drive

Initial Cost

Land

^[4]

49,392

Building & Improvements

^[4]

104,376

Cost Capitalized Subsequent To Acquisition

Land

^[4]

2,473

Building & Improvements

^[4]

19,385

Gross Amount at Which Carried at Close of Period

Land

^[4]

51,865

Building & Improvements

^[4]

123,761

Total

^[4]

175,626

Accumulated Depreciation

^[4]

31,003

520 White Plains Road

Initial Cost

Land

^[4]

6,324

Building & Improvements

^[4]

26,096

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[4]

4,785

Gross Amount at Which Carried at Close of Period

Land

^[4]

6,324

Building & Improvements

^[4]

30,881

Total

^[4]

37,205

Accumulated Depreciation

^[4]

7,755

115-117 Stevens Avenue

Initial Cost

Land

^[4]

5,933

Building & Improvements

^[4]

23,826

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[4]

6,334

Gross Amount at Which Carried at Close of Period

Land

^[4]

5,933

Building & Improvements

^[4]

30,160

Total

^[4]

36,093

Accumulated Depreciation

^[4]

7,967

100 Summit Lake Drive

Initial Cost

Land

^[4]

10,526

Building & Improvements

^[4]

43,109

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[4]

7,213

Gross Amount at Which Carried at Close of Period

Land

^[4]

10,526

Building & Improvements

^[4]

50,322

Total

^[4]

60,848

Accumulated Depreciation

^[4]

11,863

200 Summit Lake Drive

Initial Cost

Land

^[4]

11,183

Building & Improvements

^[4]

47,906

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[4]

7,217

Gross Amount at Which Carried at Close of Period

Land

^[4]

11,183

Building & Improvements

^[4]

55,123

Total

^[4]

66,306

Accumulated Depreciation

^[4]

12,600

500 Summit Lake Drive

Initial Cost

Land

^[4]

9,777

Building & Improvements

^[4]

39,048

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[4]

5,643

Gross Amount at Which Carried at Close of Period

Land

^[4]

9,777

Building & Improvements

^[4]

44,691

Total

^[4]

54,468

Accumulated Depreciation

^[4]

9,495

140 Grand Street

Initial Cost

Land

^[4]

6,865

Building & Improvements

^[4]

28,264

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[4]

4,606

Gross Amount at Which Carried at Close of Period

Land

^[4]

6,865

Building & Improvements

^[4]

32,870

Total

^[4]

39,735

Accumulated Depreciation

^[4]

7,734

360 Hamilton Avenue

Initial Cost

Land

^[4]

29,497

Building & Improvements

^[4]

118,250

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[4]

12,851

Gross Amount at Which Carried at Close of Period

Land

^[4]

29,497

Building & Improvements

^[4]

131,101

Total

^[4]

160,598

Accumulated Depreciation

^[4]

29,031

1-6 Landmark Square

Real Estate And Accumulated Depreciation

Encumbrances

^[5]

81,269

Initial Cost

Land

^[5]

50,947

Building & Improvements

^[5]

195,167

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[5]

30,206

Gross Amount at Which Carried at Close of Period

Land

^[5]

50,947

Building & Improvements

^[5]

225,373

Total

^[5]

276,320

Accumulated Depreciation

^[5]

48,469

7 Landmark Square

Initial Cost

Land

^[5]

2,088

Building & Improvements

^[5]

7,748

Cost Capitalized Subsequent To Acquisition

Land

^[5]

(367)

Building & Improvements

^[5]

(133)

Gross Amount at Which Carried at Close of Period

Land

^[5]

1,721

Building & Improvements

^[5]

7,615

Total

^[5]

9,336

Accumulated Depreciation

^[5]

600

680 Washington Boulevard

Initial Cost

Land

^[3],[5]

11,696

Building & Improvements

^[3],[5]

45,364

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[3],[5]

4,561

Gross Amount at Which Carried at Close of Period

Land

^[3],[5]

11,696

Building & Improvements

^[3],[5]

49,925

Total

^[3],[5]

61,621

Accumulated Depreciation

^[3],[5]

$ 11,118

Interest in property (as a percent)

51.00%

750 Washington Boulevard

Initial Cost

Land

^[3],[5]

$ 16,916

Building & Improvements

^[3],[5]

68,849

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[3],[5]

7,433

Gross Amount at Which Carried at Close of Period

Land

^[3],[5]

16,916

Building & Improvements

^[3],[5]

76,282

Total

^[3],[5]

93,198

Accumulated Depreciation

^[3],[5]

$ 16,313

Interest in property (as a percent)

51.00%

1010 Washington Boulevard

Initial Cost

Land

^[5]

$ 7,747

Building & Improvements

^[5]

30,423

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[5]

5,058

Gross Amount at Which Carried at Close of Period

Land

^[5]

7,747

Building & Improvements

^[5]

35,481

Total

^[5]

43,228

Accumulated Depreciation

^[5]

7,695

500 West Putnam Avenue

Real Estate And Accumulated Depreciation

Encumbrances

^[5]

22,968

Initial Cost

Land

^[5]

11,210

Building & Improvements

^[5]

44,782

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[5]

4,734

Gross Amount at Which Carried at Close of Period

Land

^[5]

11,210

Building & Improvements

^[5]

49,516

Total

^[5]

60,726

Accumulated Depreciation

^[5]

10,272

150 Grand Street

Initial Cost

Land

^[4]

1,371

Building & Improvements

^[4]

5,446

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[4]

11,225

Gross Amount at Which Carried at Close of Period

Land

^[4]

1,371

Building & Improvements

^[4]

16,671

Total

^[4]

18,042

Accumulated Depreciation

^[4]

1,770

400 Summit Lake Drive

Initial Cost

Land

^[4]

38,889

Cost Capitalized Subsequent To Acquisition

Land

^[4]

285

Building & Improvements

^[4]

Gross Amount at Which Carried at Close of Period

Land

^[4]

39,174

Building & Improvements

^[4]

Total

^[4]

39,175

Accumulated Depreciation

^[4]

331 Madison Avenue

Initial Cost

Land

^[1]

14,763

Building & Improvements

^[1]

65,241

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

2,681

Gross Amount at Which Carried at Close of Period

Land

^[1]

14,763

Building & Improvements

^[1]

67,922

Total

^[1]

82,685

Accumulated Depreciation

^[1]

13,923

1055 Washington Boulevard

Initial Cost

Land

^[5]

13,516

Building & Improvements

^[5]

53,228

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[5]

3,492

Gross Amount at Which Carried at Close of Period

Land

^[5]

13,516

Building & Improvements

^[5]

56,720

Total

^[5]

70,236

Accumulated Depreciation

^[5]

12,515

One Madison Avenue

Real Estate And Accumulated Depreciation

Encumbrances

^[1]

565,742

Initial Cost

Land

^[1]

172,641

Building & Improvements

^[1]

654,394

Cost Capitalized Subsequent To Acquisition

Land

^[1]

905

Building & Improvements

^[1]

15,297

Gross Amount at Which Carried at Close of Period

Land

^[1]

173,546

Building & Improvements

^[1]

669,691

Total

^[1]

843,237

Accumulated Depreciation

^[1]

124,795

125 Chubb Way

Initial Cost

Land

^[6]

5,884

Building & Improvements

^[6]

25,958

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[6]

23,832

Gross Amount at Which Carried at Close of Period

Land

^[6]

5,884

Building & Improvements

^[6]

49,790

Total

^[6]

55,674

Accumulated Depreciation

^[6]

5,263

100 Church

Real Estate And Accumulated Depreciation

Encumbrances

^[1]

228,612

Initial Cost

Land

^[1]

32,494

Building & Improvements

^[1]

79,996

Cost Capitalized Subsequent To Acquisition

Land

^[1]

2,500

Building & Improvements

^[1]

84,235

Gross Amount at Which Carried at Close of Period

Land

^[1]

34,994

Building & Improvements

^[1]

164,231

Total

^[1]

199,225

Accumulated Depreciation

^[1]

27,245

125 Park Avenue

Initial Cost

Land

^[1]

120,900

Building & Improvements

^[1]

189,714

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

42,165

Gross Amount at Which Carried at Close of Period

Land

^[1]

120,900

Building & Improvements

^[1]

231,879

Total

^[1]

352,779

Accumulated Depreciation

^[1]

34,869

885 Third Avenue

Real Estate And Accumulated Depreciation

Encumbrances

^[1]

267,650

Initial Cost

Land

^[1]

131,766

Cost Capitalized Subsequent To Acquisition

Land

^[1]

110,771

Gross Amount at Which Carried at Close of Period

Land

^[1]

242,537

Total

^[1]

242,537

Williamsburg

Initial Cost

Land

^[7]

3,677

Building & Improvements

^[7]

14,708

Cost Capitalized Subsequent To Acquisition

Land

^[7]

2,523

Building & Improvements

^[7]

(4,550)

Gross Amount at Which Carried at Close of Period

Land

^[7]

6,200

Building & Improvements

^[7]

10,158

Total

^[7]

16,358

Accumulated Depreciation

^[7]

1,082

1515 Broadway

Real Estate And Accumulated Depreciation

Encumbrances

^[1]

900,000

Initial Cost

Land

^[1]

462,700

Building & Improvements

^[1]

707,938

Cost Capitalized Subsequent To Acquisition

Land

^[1]

1,145

Building & Improvements

^[1]

68,978

Gross Amount at Which Carried at Close of Period

Land

^[1]

463,845

Building & Improvements

^[1]

776,916

Total

^[1]

1,240,761

Accumulated Depreciation

^[1]

88,018

110 East 42nd Street

Initial Cost

Land

^[1]

34,000

Building & Improvements

^[1]

46,411

Cost Capitalized Subsequent To Acquisition

Land

^[1]

2,354

Building & Improvements

^[1]

17,179

Gross Amount at Which Carried at Close of Period

Land

^[1]

36,354

Building & Improvements

^[1]

63,590

Total

^[1]

99,944

Accumulated Depreciation

^[1]

9,194

51 East 42nd Street

Initial Cost

Land

^[1]

44,095

Building & Improvements

^[1]

33,470

Cost Capitalized Subsequent To Acquisition

Land

^[1]

Building & Improvements

^[1]

5,607

Gross Amount at Which Carried at Close of Period

Land

^[1]

44,100

Building & Improvements

^[1]

39,077

Total

^[1]

83,177

Accumulated Depreciation

^[1]

3,278

400 East 57th Street

Real Estate And Accumulated Depreciation

Encumbrances

^[1],[8]

68,896

Initial Cost

Land

^[1],[8]

39,780

Building & Improvements

^[1],[8]

69,895

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1],[8]

10,786

Gross Amount at Which Carried at Close of Period

Land

^[1],[8]

39,780

Building & Improvements

^[1],[8]

80,681

Total

^[1],[8]

120,461

Accumulated Depreciation

^[1],[8]

$ 5,536

Interest in property (as a percent)

80.00%

400 East 58th Street

Real Estate And Accumulated Depreciation

Encumbrances

^[1],[8]

$ 29,527

Initial Cost

Land

^[1],[8]

17,549

Building & Improvements

^[1],[8]

30,916

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1],[8]

4,673

Gross Amount at Which Carried at Close of Period

Land

^[1],[8]

17,549

Building & Improvements

^[1],[8]

35,589

Total

^[1],[8]

53,138

Accumulated Depreciation

^[1],[8]

$ 2,402

Interest in property (as a percent)

80.00%

752 Madison Avenue

Initial Cost

Land

^[1],[8]

$ 282,415

Building & Improvements

^[1],[8]

7,131

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1],[8]

Gross Amount at Which Carried at Close of Period

Land

^[1],[8]

282,415

Building & Improvements

^[1],[8]

7,141

Total

^[1],[8]

289,556

Accumulated Depreciation

^[1],[8]

$ 644

Interest in property (as a percent)

80.00%

762 Madison Avenue

Real Estate And Accumulated Depreciation

Encumbrances

^[1],[8]

$ 8,045

Initial Cost

Land

^[1],[8]

6,153

Building & Improvements

^[1],[8]

10,461

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1],[8]

Gross Amount at Which Carried at Close of Period

Land

^[1],[8]

6,153

Building & Improvements

^[1],[8]

10,551

Total

^[1],[8]

16,704

Accumulated Depreciation

^[1],[8]

$ 805

Interest in property (as a percent)

80.00%

19-21 East 65th Street

Initial Cost

Building & Improvements

^[1],[8]

$ 7,389

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1],[8]

159

Gross Amount at Which Carried at Close of Period

Building & Improvements

^[1],[8]

7,548

Total

^[1],[8]

7,548

Accumulated Depreciation

^[1],[8]

$ 559

Interest in property (as a percent)

80.00%

304 Park Avenue

Initial Cost

Land

^[1]

$ 54,189

Building & Improvements

^[1]

75,619

Cost Capitalized Subsequent To Acquisition

Land

^[1]

300

Building & Improvements

^[1]

6,336

Gross Amount at Which Carried at Close of Period

Land

^[1]

54,489

Building & Improvements

^[1]

81,955

Total

^[1]

136,444

Accumulated Depreciation

^[1]

7,465

635 Sixth Avenue

Initial Cost

Land

^[1]

24,180

Building & Improvements

^[1]

37,158

Cost Capitalized Subsequent To Acquisition

Land

^[1]

163

Building & Improvements

^[1]

38,104

Gross Amount at Which Carried at Close of Period

Land

^[1]

24,343

Building & Improvements

^[1]

75,262

Total

^[1]

99,605

641 Sixth Avenue

Initial Cost

Land

^[1]

45,668

Building & Improvements

^[1]

67,316

Cost Capitalized Subsequent To Acquisition

Land

^[1]

308

Building & Improvements

^[1]

793

Gross Amount at Which Carried at Close of Period

Land

^[1]

45,976

Building & Improvements

^[1]

68,109

Total

^[1]

114,085

Accumulated Depreciation

^[1]

5,076

1080 Amsterdam

Initial Cost

Building & Improvements

^[1],[9]

27,445

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1],[9]

20,182

Gross Amount at Which Carried at Close of Period

Building & Improvements

^[1],[9]

47,627

Total

^[1],[9]

$ 47,627

Interest in property (as a percent)

87.50%

131-137 Spring Street

Initial Cost

Land

^[1]

$ 27,021

Building & Improvements

^[1]

105,342

Cost Capitalized Subsequent To Acquisition

Land

^[1]

154

Building & Improvements

^[1]

3,384

Gross Amount at Which Carried at Close of Period

Land

^[1]

27,175

Building & Improvements

^[1]

108,726

Total

^[1]

135,901

Accumulated Depreciation

^[1]

5,606

248-252 Bedford Avenue

Real Estate And Accumulated Depreciation

Encumbrances

^[7],[10]

29,000

Initial Cost

Land

^[7],[10]

10,865

Building & Improvements

^[7],[10]

44,035

Cost Capitalized Subsequent To Acquisition

Land

^[7],[10]

(2,194)

Building & Improvements

^[7],[10]

(6,784)

Gross Amount at Which Carried at Close of Period

Land

^[7],[10]

8,671

Building & Improvements

^[7],[10]

37,251

Total

^[7],[10]

45,922

Accumulated Depreciation

^[7],[10]

$ 1,490

Interest in property (as a percent)

90.00%

16 Court Street

Initial Cost

Land

^[7]

$ 19,217

Building & Improvements

^[7]

63,210

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[7]

4,954

Gross Amount at Which Carried at Close of Period

Land

^[7]

19,217

Building & Improvements

^[7]

68,164

Total

^[7]

87,381

Accumulated Depreciation

^[7]

4,604

315 West 33rd Street

Initial Cost

Land

^[1]

195,834

Building & Improvements

^[1]

164,429

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

3,180

Gross Amount at Which Carried at Close of Period

Land

^[1]

195,834

Building & Improvements

^[1]

167,609

Total

^[1]

363,443

Accumulated Depreciation

^[1]

5,396

Fifth Avenue Retail Assemblage

Initial Cost

Land

^[1]

135,513

Building & Improvements

^[1]

10,487

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

3,356

Gross Amount at Which Carried at Close of Period

Land

^[1]

135,513

Building & Improvements

^[1]

13,843

Total

^[1]

149,356

Accumulated Depreciation

^[1]

1,364

388-390 Greenwich Street

Real Estate And Accumulated Depreciation

Encumbrances

^[1]

1,450,000

Initial Cost

Land

^[1]

558,731

Building & Improvements

^[1]

1,037,729

Cost Capitalized Subsequent To Acquisition

Building & Improvements

^[1]

68,780

Gross Amount at Which Carried at Close of Period

Land

^[1]

558,731

Building & Improvements

^[1]

1,106,509

Total

^[1]

1,665,240

Accumulated Depreciation

^[1]

18,308

719 Seventh Avenue

Initial Cost

Land

^[1],[11]

14,402

Building & Improvements

^[1],[11]

26,866

Gross Amount at Which Carried at Close of Period

Land

^[1],[11]

14,402

Building & Improvements

^[1],[11]

26,866

Total

^[1],[11]

41,268

Accumulated Depreciation

^[1],[11]

$ 334

Interest in property (as a percent)

75.00%

115 Spring Street

Initial Cost

Land

^[1]

$ 15,938

Building & Improvements

^[1]

37,309

Gross Amount at Which Carried at Close of Period

Land

^[1]

15,938

Building & Improvements

^[1]

37,309

Total

^[1]

53,247

635 Madison Avenue

Initial Cost

Land

^[1]

153,745

Gross Amount at Which Carried at Close of Period

Land

^[1]

153,745

Total

^[1]

153,745

102 Greene Street

Initial Cost

Land

^[1]

11,288

Building & Improvements

^[1]

20,963

Gross Amount at Which Carried at Close of Period

Land

^[1]

11,288

Building & Improvements

^[1]

20,963

Total

^[1]

32,251

Accumulated Depreciation

^[1]

131

Other

Initial Cost

Land

^[12]

1,130

Cost Capitalized Subsequent To Acquisition

Land

^[12]

1,003

Building & Improvements

^[12]

11,803

Gross Amount at Which Carried at Close of Period

Land

^[12]

2,133

Building & Improvements

^[12]

11,803

Total

^[12]

13,936

Accumulated Depreciation

^[12]

$ 3,194

[1]	Property located in New York, New York.
[2]	We own a 50.0% interest in this property.
[3]	We own a 51.0% interest in this property.
[4]	Property located in Westchester County, New York.
[5]	Property located in Connecticut.
[6]	Property located in New Jersey.
[7]	Property located in Brooklyn, New York.
[8]	We own an 80.0% interest in this property.
[9]	We own an 87.5% interest in this property.
[10]	We own a 90.0% interest in this property.
[11]	We own a 75.0% interest in this property.
[12]	Other includes tenant improvements at eEmerge, capitalized interest and corporate improvements.

Schedule III-Real Estate And Accumulated Depreciation (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Changes in real estate
Balance at beginning of year	$ 12,333,780	$ 11,662,953	$ 11,147,151
Property acquisitions	2,428,259	702,717	649,445
Improvements	379,295	199,141	146,410
Retirements/disposals/deconsolidation	(1,072,193)	(231,031)	(280,053)
Balance at end of year	14,069,141	12,333,780	11,662,953
Aggregate cost of land, buildings and improvements, before depreciation, for Federal income tax purposes	10,400,000
Changes in accumulated depreciation, exclusive of amounts relating to equipment, autos, and furniture and fixtures
Balance at beginning of year	1,646,240	1,393,323	1,136,603
Depreciation for year	307,823	286,776	288,560
Retirements/disposals/deconsolidation	(48,898)	(33,859)	(31,840)
Balance at end of year	$ 1,905,165	$ 1,646,240	$ 1,393,323