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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2012	Jul. 31, 2012
Document and Entity Information
Entity Registrant Name	RECKSON OPERATING PARTNERSHIP LP
Entity Central Index Key	0000930810
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		0
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Commercial real estate properties, at cost:
Land and land interests	$ 800,050	$ 759,237
Building and improvements	4,086,914	3,976,219
Commercial real estate properties, gross	4,886,964	4,735,456
Less: accumulated depreciation	(634,371)	(574,658)
Total commercial real estate properties, net	4,252,593	4,160,798
Cash and cash equivalents	21,659	23,754
Restricted cash	15,747	15,947
Tenant and other receivables, net of allowance of $5,087 and $3,949 in 2012 and 2011, respectively	12,456	11,927
Deferred rents receivable, net of allowance of $15,218 and $14,297 in 2012 and 2011, respectively	119,490	110,598
Debt investment, net of allowance of $8,125 in 2011		600
Investment in unconsolidated joint venture	47,892	41,913
Deferred costs, net of accumulated amortization of $30,070 and $24,686 in 2012 and 2011, respectively	80,290	83,948
Other assets	74,893	80,669
Total assets	4,625,020	4,530,154
Liabilities
Mortgage note payable	500,000	500,000
Revolving credit facility	80,000	350,000
Senior unsecured notes	873,352	873,604
Accrued interest payable and other liabilities	24,070	17,221
Accounts payable and accrued expenses	35,347	37,634
Deferred revenue	169,508	188,555
Security deposits	15,120	15,286
Total liabilities	1,697,397	1,982,300
Commitments and contingencies
Capital
General partner capital	2,573,385	2,188,864
Limited partner capital	0
Accumulated other comprehensive loss	(5,166)	(5,117)
Noncontrolling interests in other partnerships	359,404	364,107
Total capital	2,927,623	2,547,854
Total liabilities and capital	$ 4,625,020	$ 4,530,154

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Consolidated Balance Sheets
Tenant and other receivables, allowance	$ 5,087	$ 3,949
Deferred rents receivable, allowance	15,218	14,297
Debt investment, allowance		8,125
Deferred costs, accumulated amortization	$ 30,070	$ 24,686

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues
Rental revenue, net	$ 98,424	$ 95,660	$ 195,987	$ 194,583
Escalation and reimbursement	17,762	17,032	35,675	33,777
Investment income				3,077
Other income	904	1,306	1,759	2,931
Total revenues	117,090	113,998	233,421	234,368
Expenses
Operating expenses (including $3,660 and $7,122, $3,230 and $6,312, paid to affiliates in 2012 and 2011, respectively)	25,559	27,151	52,529	54,706
Real estate taxes	20,704	19,461	40,865	39,189
Ground rent	2,684	2,684	5,368	5,336
Interest expense, net of interest income	22,980	14,233	47,264	28,042
Amortization of deferred finance costs	619	242	1,951	349
Loan loss reserves, net of recoveries			(472)	(3,150)
Transaction related costs	861		861
Depreciation and amortization	31,983	31,008	64,023	62,273
Marketing, general and administrative	127	83	132	168
Total expenses	105,517	94,862	212,521	186,913
Income from continuing operations before equity in net income from unconsolidated joint venture and noncontrolling interests	11,573	19,136	20,900	47,455
Depreciable real estate reserve, net of recoveries	5,789		5,789
Equity in net income from unconsolidated joint venture	660	133	786	279
Net income	18,022	19,269	27,475	47,734
Net income attributable to noncontrolling interests in other partnerships	(2,067)	(3,176)	(3,440)	(6,729)
Net income attributable to ROP common unitholder	15,955	16,093	24,035	41,005
Other comprehensive loss:
Unrealized loss on derivative instruments	(189)		(49)
Comprehensive income attributable to ROP common unitholder	$ 15,766	$ 16,093	$ 23,986	$ 41,005

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Consolidated Statements of Income and Comprehensive Income
Operating expenses, paid to affiliates	$ 3,660	$ 3,230	$ 7,122	$ 6,312

Consolidated Statement of Capital - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Consolidated Statement of Capital - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2012
Increase (Decrease) in Partners' Capital
Balance		$ 2,547,854
Contributions		1,061,117
Distributions		(708,774)
Net income	$ 18,022	27,475
Other comprehensive income		(49)
Balance	2,927,623	2,927,623
General Partner's Capital \| Class A Common Units
Increase (Decrease) in Partners' Capital
Balance		2,188,864
Contributions		1,061,117
Distributions		(700,631)
Net income		24,035
Balance	2,573,385	2,573,385
Noncontrolling Interests In Other Partnerships
Increase (Decrease) in Partners' Capital
Balance		364,107
Distributions		(8,143)
Net income		3,440
Balance	359,404	359,404
Accumulated Other Comprehensive Loss
Increase (Decrease) in Partners' Capital
Balance		(5,117)
Other comprehensive income		(49)
Balance	$ (5,166)	$ (5,166)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Operating Activities
Net income	$ 27,475	$ 47,734
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	65,974	62,622
Equity in net income from unconsolidated joint venture	(786)	(279)
Distributions of cumulative earnings from unconsolidated joint venture	444	279
Loan loss reserves, net of recoveries	(472)	(3,150)
Depreciable real estate reserve, net of recoveries	(5,789)
Deferred rents receivable	(10,385)	(13,561)
Other non-cash adjustments	(6,985)	(12,728)
Changes in operating assets and liabilities:
Restricted cash - operations	200	(994)
Tenant and other receivables	(1,789)	994
Deferred lease costs	(1,998)	(3,728)
Other assets	(1,668)	(3,196)
Accounts payable, accrued expenses and other liabilities	(441)	(5,165)
Net cash provided by operating activities	63,780	68,828
Investing Activities
Acquisition of real estate property	(102,910)
Additions to land, buildings and improvements	(19,625)	(22,828)
Distributions in excess of cumulative earnings from unconsolidated joint venture	152	277
Repayment of debt investments and proceeds from other investments	7,777	27,187
Net cash (used in) provided by investing activities	(114,606)	4,636
Financing Activities
Net proceeds from mortgage note payable		500,000
Repayments of mortgage note payable		(219,879)
Net proceeds from revolving credit facility	468,339
Repayments of revolving credit facility and senior unsecured notes	(738,639)	(84,823)
Contributions from common unitholder	1,028,027	278,936
Distributions to noncontrolling interests in other partnerships	(8,143)	(133,523)
Distributions to common unitholder	(700,631)	(370,671)
Deferred loan costs	(222)	(10,619)
Net cash provided by (used in) financing activities	48,731	(40,579)
Net (decrease) increase in cash and cash equivalents	(2,095)	32,885
Cash and cash equivalents at beginning of period	23,754	22,831
Cash and cash equivalents at end of period	$ 21,659	$ 55,716

Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2012

Organization and Basis of Presentation

Organization and Basis of Presentation

1. Organization and Basis of Presentation

Reckson Operating Partnership, L.P., or ROP, commenced operations on June 2, 1995. The sole general partner of ROP is a wholly-owned subsidiary of SL Green Operating Partnership, L.P., or the Operating Partnership. The sole limited partner of ROP is the Operating Partnership.

ROP is engaged in the acquisition, ownership, management and operation of commercial real estate properties, principally office properties and also owns land for future development located in the New York City, Westchester County and Connecticut, which collectively is also known as the New York Metropolitan area.

SL Green Realty Corp., or SL Green, and the Operating Partnership were formed in June 1997. SL Green 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,” “us” and the “Company” means ROP and all entities owned or controlled by ROP.

On January 25, 2007, SL Green completed the acquisition of all of the outstanding shares of common stock of Reckson Associates Realty Corp., or RARC, the prior general partner of ROP. This transaction is referred to herein as the Merger.

In November 2011, in connection with the closing of our 2011 revolving credit facility in which we, along with SL Green and the Operating Partnership are borrowers, SL Green transferred five properties from the Operating Partnership to ROP. These properties comprised an aggregate of $683.8 million in total assets at November 1, 2011. Under the Business Combinations guidance, this was determined to be a transfer of assets between entities under common control. As such, the assets and liabilities were transferred at their carrying value. The transfer is required to be recorded as of the beginning of the current reporting period as though the assets and liabilities had been transferred at that date. The financial statements and financial information presented for all prior periods have been retrospectively adjusted to furnish comparative information.

As of June 30, 2012, we owned the following interests in commercial office properties in the New York Metropolitan area, primarily in midtown Manhattan, a borough of New York City. Our investments in the New York Metropolitan area also include investments in Queens, Westchester County and Connecticut, which are collectively known as the Suburban assets:

Location	Ownership	Number of Properties	Square Feet	Weighted Average Occupancy (1)
Manhattan	Consolidated properties	9	6,251,400	95.6	%

Suburban	Consolidated properties	17	2,785,500	81.1	%
	Unconsolidated properties	1	1,402,000	100.0	%
		27	10,438,900	92.3	%

(1)	The weighted average occupancy represents the total leased square feet divided by total available rentable square feet.

At June 30, 2012, our inventory of development parcels included approximately 81 acres of land in four separate parcels on which we can, based on estimates at June 30, 2012, develop approximately 1.1 million square feet of office space and in which we have invested approximately $67.1 million. We also own one development property encompassing approximately 36,800 square feet.

Basis of Quarterly Presentation

The accompanying consolidated financial statements include the consolidated financial position of ROP and the Service Companies (as defined below) at June 30, 2012 and December 31, 2011, the consolidated results of their operations for the three and six months ended June 30, 2012 and 2011, their statement of capital for the six months ended June 30, 2012 and their statement of cash flows for the six months ended June 30, 2012 and 2011. Our investments in majority-owned and controlled real estate joint ventures are reflected in the accompanying financial statements on a consolidated basis with a reduction for the noncontrolling partners’ interests. ROP’s investments in real estate joint ventures, where it owns less than a controlling interest, are reflected in the accompanying consolidated financial statements using the equity method of accounting. The Service Companies, which provide management, development and construction services to ROP, include Reckson Management Group, Inc., RANY Management Group, Inc., Reckson Construction & Development LLC and Reckson Construction Group New York, Inc. (collectively, the “Service Companies”). All significant intercompany balances and transactions have been eliminated in the consolidated financial statements.

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States, or U.S. GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation of the financial position of the Company at June 30, 2012, and the results of operations for the periods presented have been included. The 2012 operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2012. These financial statements should be read in conjunction with the financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2011.

The balance sheet at December 31, 2011 has been derived from the audited financial statements at that date but does not include all the information and footnotes required by U.S. GAAP for complete financial statements.

- 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 AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Name Statement of Position (SOP)
-Publisher AICPA
-Number 94-6
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Significant Accounting Policies

6 Months Ended

Jun. 30, 2012

Significant Accounting Policies

Significant Accounting Policies

2. Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements include our accounts, those of our subsidiaries, which are wholly-owned or controlled by us and the Service Companies. 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. See Note 4, “Investment in Unconsolidated Joint Venture.” ROP’s investments in majority-owned and controlled real estate joint ventures are reflected in the accompanying financial statements on a consolidated basis with a reduction for the noncontrolling partners’ interests. All significant intercompany balances and transactions have been eliminated.

The Financial Accounting Standard Board, or FASB, guidance for determining whether an entity is a variable interest entity, or VIE, requires the performance of a qualitative rather than a quantitative analysis to determine the primary beneficiary of a VIE. Under this guidance, an entity would be required to consolidate a VIE if it 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.

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 a parent. Noncontrolling interests are required to be presented as a separate component of equity in the consolidated balance sheet and modified the presentation of net income by requiring earnings and other comprehensive income to be attributed to controlling and noncontrolling interests.

We assess the accounting treatment for each joint venture. 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 VIE’s, 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 or our partner approves, among other things, the annual budget, receives a detailed monthly reporting package from us, meets on a quarterly basis to review the results of the joint venture, reviews and approves the joint venture’s tax return before filing, and approves all leases that cover more than a nominal amount of space relative to the total rentable space at each property, we do not consolidate the joint venture as we consider these to be substantive participation rights that result in shared power of the activities that most significantly impact the performance of our joint venture. Our joint venture agreements typically contain certain protective rights such as the requirement of partner approval to sell, finance or refinance the property and the payment of capital expenditures and operating expenditures outside of the approved budget or operating plan.

Investment in Commercial Real Estate Properties

On a periodic basis, we assess whether there are any indicators that the value of our real estate properties may be impaired or that its 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. In addition, we assess our investment in our unconsolidated joint venture 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 investment for impairment based on the joint venture’s projected discounted cash flows. In November 2011, we recorded a $5.8 million impairment charge in connection with the expected sale of our equity investment. In June 2012, we reversed this entire impairment charge. See Note 4, “Investment in Unconsolidated Joint Venture.” No impairment charge was recorded during the three or six months ended June 30, 2012 and 2011. We do not believe that the value of any of our consolidated properties was impaired at June 30, 2012 or December 31, 2011, respectively.

We allocate the purchase price of real estate to land and building and, if determined to be material, intangibles, such as the value of above-, below- and at-market leases and origination costs associated with the in-place leases. We depreciate the amount allocated to building and other intangible assets over their estimated useful lives, which generally range from three to 40 years and from one to 14 years, respectively. The values of the above- and below-market leases are amortized and recorded as either an increase (in the case of below-market leases) or a decrease (in the case of above-market leases) to rental income over the remaining term of the associated lease, which generally range from one to 14 years. The value associated with in-place leases is amortized 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 amortized such below market lease value into rental income over the renewal period.

We recognized increases of approximately $4.8 million, $9.8 million, $5.9 million and $12.6 million in rental revenue for the three and six months ended June 30, 2012 and 2011, respectively, for the amortization of aggregate below-market leases in excess of above-market leases and a reduction in lease origination costs, resulting from the allocation of the purchase price of the applicable properties. We recognized an increase/(reduction) in interest expense for the amortization of above-market rate mortgages assumed of approximately $0.1 million, $0.3 million, $(0.9) million and $(1.4) million for the three and six months ended June 30, 2012 and 2011, 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 June 30, 2012 and December 31, 2011 (amounts in thousands).

	June 30, 2012			December 31, 2011
Identified intangible assets (included in other assets):
Gross amount	$	169,181		$	169,181
Accumulated amortization	(109,594		)	(101,626		)
Net	$	59,587		$	67,555

Identified intangible liabilities (included in deferred revenue):
Gross amount	$	375,946		$	375,946
Accumulated amortization	(206,728		)	(188,914		)
Net	$	169,218		$	187,032

Income Taxes

No provision has been made for income taxes in the accompanying consolidated financial statements since such taxes, if any, are the responsibility of the individual partners.

Reserve for Possible Credit Losses

The expense for possible credit losses in connection with debt 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. The write-off of the reserve balance is called a charge-off. We did not record any loan loss reserves or charge offs on investments held to maturity during the three or six months ended June 30, 2012 or 2011, respectively. We recorded zero, $0.5 million, zero and $3.2 million in recoveries during the three and six months ended June 30, 2012 and 2011, respectively in connection with the sale of our debt investments. This is included in Loan loss reserves, net of recoveries in the accompanying Consolidated Statements of Income and Comprehensive Income.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP 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.

Fair Value Measurements

Fair value is a market-based measurement, not an entity-specific measurement, and should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, FASB guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within levels one and two of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within level three of the hierarchy).

The estimated fair values of tangible and intangible assets and liabilities recorded in connection with business combinations are based on Level 3 inputs. We estimate fair values based on cash flow projections utilizing appropriate discount and/or capitalization rates and available market information.

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

We use the following methods and assumptions in estimating fair value disclosures for financial instruments:

· Cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses, and other assets and liabilities: The carrying amount of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses, and other assets and liabilities reported in our Consolidated Balance Sheets approximates fair value due to the short-term nature of these instruments.

· Mortgage payable and other debt: The fair value of borrowings is estimated by discounting the future cash flows using current interest rates at which similar borrowings could be made by us.

The methodologies used for valuing financial instruments have been categorized into three broad levels as follows:

Level 1 - Quoted prices in active markets for identical instruments.

Level 2 - Valuations based principally on other observable market parameters, including

· Quoted prices in active markets for similar instruments,

· Quoted prices in less active or inactive markets for identical or similar instruments,

· Other observable inputs (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates), and

· Market corroborated inputs (derived principally from or corroborated by observable market data).

Level 3 - Valuations based significantly on unobservable inputs.

· Valuations based on third-party indications (broker quotes or counterparty quotes) which were, in turn, based significantly on unobservable inputs or were otherwise not supportable as Level 2 valuations.

· Valuations based on internal models with significant unobservable inputs.

These levels form a hierarchy. We follow this hierarchy for our financial instruments measured at fair value on a recurring and nonrecurring basis. The classifications are based on the lowest level of input that is significant to the fair value measurement.

Concentrations of Credit Risk

Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash investments and accounts receivable. We place our cash investments in excess of insured amounts with high quality financial institutions. We perform ongoing credit evaluations of our tenants and require certain 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 the space. Although the properties in our real estate portfolio are primarily located in Manhattan, we also have Suburban properties located in Westchester County, Connecticut and Long Island City. The tenants located in our buildings operate in various industries. Other than three tenants who contributed approximately 3.6%, 3.7% and 5.8% of our annualized cash rent, no other tenant in the portfolio contributed more than 3.3% of our annualized cash rent, including our share of joint venture annualized cash rent, at June 30, 2012. Approximately 11%, 10%, 12%, 19%, 9% and 9% of our annualized cash rent, including our share of joint venture annualized cash rent, was attributable to 750 Third Avenue, 810 Seventh Avenue, 919 Third Avenue, 1185 Avenue of the Americas, 555 West 57th Street and 1350 Avenue of the Americas, respectively, for the quarter ended June 30, 2012.

Accounting Standards Updates

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. 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 effect on our consolidated financial statements.

In June 2011, the FASB issued guidance to increase the prominence of other comprehensive income in financial statements. The standard gives businesses two options for presenting other comprehensive income, or OCI, which previously had been included within the statement of capital. An OCI statement may be included with the statement of income, and together the two will make a statement of total comprehensive income. Alternatively, businesses may have an OCI statement separate from the statement of income, but the two statements will have to appear consecutively within a financial report. These requirements related to the presentation of OCI became effective for interim and annual reporting periods beginning after December 15, 2011. We adopted this guidance and included an OCI statement within the statement of income and comprehensive income. In December 2011, the FASB temporarily delayed those requirements that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income. During the deferral period, the FASB plans to re-evaluate the requirement, with a final decision in 2012.

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. 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 is 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 is not expected to have a material impact on our consolidated financial statements.

Property Acquisition

6 Months Ended

Jun. 30, 2012

Property Acquisition.

Property Acquisition

3. Property Acquisition

In June 2012, we acquired a 215,000 square foot mixed-use office and retail building at 304 Park Avenue for $135.0 million. The property was acquired with an approximately $102.0 million in cash and $33.0 million in units of limited partnership interest in the Operating Partnership. We are currently in the process of analyzing the fair value of the in-place leases; and consequently, no value has yet been assigned to the leases. Therefore, the purchase price allocation is preliminary and subject to change.

- 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).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 88-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51, 52
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Appendix F
-Paragraph F4
-Subparagraph e

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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-Paragraph 67-73
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+ Details

Investment in Unconsolidated Joint Venture

6 Months Ended

Jun. 30, 2012

Investment in Unconsolidated Joint Venture

Investment in Unconsolidated Joint Venture

4. Investment in Unconsolidated Joint Venture

In May 2005, we acquired a 1.4 million square foot, 50-story, Class A office tower located at One Court Square, Long Island City, New York, for approximately $471.0 million, inclusive of transfer taxes and transactional costs. One Court Square is 100% leased to the seller, Citibank N.A., under a 15-year net lease. On November 30, 2005, we sold a 70% joint venture interest in One Court Square to certain institutional funds advised by JPMorgan Investment Management, or the JPM Investors, for approximately $329.7 million, including the assumption of $220.5 million of the property’s mortgage debt. The operating agreement of the Court Square Joint Venture requires approvals from members on certain decisions including annual budgets, sale of the property, refinancing of the property’s mortgage debt and material renovations to the property. In addition, the members each have the right to recommend the sale of the property, subject to the terms of the mortgage debt, and to dissolve the Court Square Joint Venture. We also provide a detailed monthly reporting package to the JPM Investors. We have concluded that the JPM Investors have substantive participating rights in the ordinary course of the Court Square Joint Venture’s business that result in shared power of the activities that most significantly impact the performance of the joint venture. We account for the Court Square Joint Venture under the equity method of accounting.

In November 2011, we, along with our joint venture partner, reached an agreement to sell One Court Square to a private investor group for approximately $475.6 million. The transaction included $315.0 million of existing debt, which will be assumed by the purchaser. In November 2011, we recorded a $5.8 million impairment charge in connection with the expected sale of this investment. This entire impairment charge was reversed in June 2012. On subsequent dates in 2012, the closing date was extended and the purchase price was increased to $481.1 million. This transaction closed on July 18, 2012. See Note 15, “Subsequent Events.”

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References + Details

Mortgage Note Payable

6 Months Ended

Jun. 30, 2012

Mortgage Note Payable

Mortgage Note Payable

5. Mortgage Note Payable

The first mortgage note payable collateralized by the property and assignment of leases at June 30, 2012 and December 31, 2011, respectively, was as follows (amounts in thousands):

Property	Interest Rate(1)		Maturity Date	June 30, 2012		December 31, 2011
919 Third Avenue New York, NY (2)(3)	5.12	%	6/2023	$	500,000	$	500,000

(1)		Effective interest rate for the three months ended June 30, 2012.
(2)		We own a 51% controlling interest in the joint venture that is the borrower on this loan. This loan is non-recourse to us. In June 2011, our joint venture replaced the $219.6 million 6.87% mortgage that was due to mature in August 2011 with a $500.0 million mortgage.
(3)		Held in a bankruptcy remote special purpose entity.

At June 30, 2012, the gross book value of the property collateralizing the mortgage note was approximately $1.3 billion.

At June 30, 2012, our unconsolidated joint venture had total indebtedness of approximately $315.0 million with a fixed interest rate of approximately 4.91%. The mortgage matures in September 2015. Our aggregate pro-rata share of the non-recourse unconsolidated joint venture debt was approximately $94.5 million.

Corporate Indebtedness

6 Months Ended

Jun. 30, 2012

Corporate Indebtedness

Corporate Indebtedness

6. Corporate Indebtedness

2011 Revolving Credit Facility

In November 2011, we entered into a $1.5 billion revolving credit facility, or the 2011 revolving credit facility. The 2011 revolving credit facility bears 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. As of June 30, 2012, the applicable spread was 150 basis points. The 2011 revolving credit facility matures in November 2015 and has a one-year as-of-right extension option, subject to certain conditions and the payment of an extension fee of 20 basis points. We also have an option, subject to customary conditions, without the consent of existing lenders, to increase the capacity under the 2011 revolving credit facility to $1.75 billion at any time prior to the maturity date. We are 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, which fee is based on the credit rating assigned to the senior unsecured long-term indebtedness. As of June 30, 2012, the facility fee was 35 basis points. At June 30, 2012, we had approximately $80.0 million of borrowings and $109.3 million of letters of credit outstanding under the 2011 revolving credit facility, with undrawn capacity of $1.3 billion.

We, SL Green and the Operating Partnership are all borrowers jointly and severally obligated under the 2011 revolving credit facility. No other subsidiary of ours is an obligor under the 2011 revolving credit facility.

The 2011 revolving credit facility includes certain restrictions and covenants (see Restrictive Covenants below).

Senior Unsecured Notes

The following table sets forth our senior unsecured notes and other related disclosures by scheduled maturity date as of June 30, 2012 and December 31, 2011 (amounts in thousands):

Issuance	June 30, 2012 Unpaid Principal Balance		June 30, 2012 Accreted Balance		December 31, 2011 Accreted Balance		Coupon Rate(1)		Effective Rate		Term (in Years)	Maturity
June 27, 2005(2)	$	357	$	357	$	657	4.000	%	4.000	%	20	June 15, 2025
March 16, 2010(3)	250,000		250,000		250,000		7.750	%	7.750	%	10	March 15, 2020
August 5, 2011(3)	250,000		249,593		249,565		5.000	%	5.031	%	7	August 15, 2018
March 31, 2006	275,000		274,824		274,804		6.000	%	6.019	%	10	March 31, 2016
August 13, 2004	98,578		98,578		98,578		5.875	%	5.875	%	10	August 15, 2014
	$	873,935	$	873,352	$	873,604

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

(2) Exchangeable senior debentures which are currently callable at par. In addition, the debentures can be put to us, 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 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. During the six months ended June 30, 2012, we repurchased $300,000 of these bonds at par.

(3) We, SL Green and the Operating Partnership are co-obligators.

ROP also provides a guaranty of the Operating Partnership’s obligations under its 3.00% Exchangeable Senior Notes due 2017.

Restrictive Covenants

The terms of the 2011 revolving credit facility and certain of the senior unsecured notes include certain restrictions and covenants which may limit, among other things, SL Green’s ability to pay dividends, make certain types of investments, incur additional indebtedness, incur liens and enter into negative pledge agreements and dispose 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 and a maximum ratio of unsecured indebtedness to unencumbered asset value. The dividend restriction referred to above provides that SL Green will not during any time when a default is continuing, make distributions with respect to SL Green’s common stock or other equity interests, except to enable SL Green to continue to qualify as a REIT for Federal income tax purposes. As of June 30, 2012 and December 31, 2011, we were in compliance with all such covenants.

Principal Maturities

Combined aggregate principal maturities of mortgage loans payable, 2011 revolving credit facility, senior unsecured notes and our share of joint venture debt as of June 30, 2012, including as-of-right extension options, were as follows (amounts in thousands):

	Scheduled Amortization		Principal Repayments		Revolving Credit Facility		Senior Unsecured Notes		Total		Joint Venture Debt
2012	$	—	$	—	$	—	$	—	$	—	$	—
2013	—		—		—		—		—		—
2014	—		—		—		98,578		98,578		—
2015	—		—		—		357		357		94,500
2016	4,116		—		80,000		274,824		358,940		—
Thereafter	45,276		450,608		—		499,593		995,477		—
	$	49,392	$	450,608	$	80,000	$	873,352	$	1,453,352	$	94,500

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2012			2011			2012			2011
Interest expense	$	22,982		$	14,240		$	47,268		$	28,052
Interest income	(2		)	(7		)	(4		)	(10		)
Interest expense, net	$	22,980		$	14,233		$	47,264		$	28,042
Interest capitalized	$	—		$	—		$	—		$	—

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2012

Fair Value of Financial Instruments

Fair Value of Financial Instruments

7. Fair Value of Financial Instruments

The following disclosures of estimated fair value were determined by management using available market information and appropriate valuation methodologies, as discussed in Note 2, “Significant Accounting Policies.” Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts we could realize on disposition of the financial instruments. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

Cash and cash equivalents, accounts receivable and accounts payable balances reasonably approximate their fair values due to the short maturities of these items. Mortgage note payable and the senior unsecured notes had an estimated fair value based on discounted cash flow models, based on Level 3 inputs, of approximately $1.5 billion, compared to the book value of the related fixed rate debt of approximately $1.4 billion at June 30, 2012. Our floating rate debt, inclusive of our 2011 revolving credit facility, but excluding $30.0 million of which was swapped, had an estimated fair value based on discounted cash flow models, based on Level 3 inputs, of approximately $49.9 million, compared to the book value of approximately $50.0 million at June 30, 2012.

Disclosure about fair value of financial instruments is based on pertinent information available to us as of June 30, 2012. 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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-Subparagraph a-d
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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 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Partners' Capital

6 Months Ended

Jun. 30, 2012

Partners' Capital

Partners' Capital

8. Partners’ Capital

Since consummation of the Merger on January 25, 2007, the Operating Partnership has owned all the economic interests in ROP either by direct ownership or by indirect ownership through our general partner, which is its wholly-owned subsidiary.

Intercompany transactions between SL Green and ROP are generally recorded as contributions and distributions.

- Definition

The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units.

+ References + Details

Financial Instruments: Derivatives and Hedging

6 Months Ended

Jun. 30, 2012

Financial Instruments: Derivatives and Hedging

Financial Instruments: Derivatives and Hedging

9. Financial Instruments: Derivatives and Hedging

We recognize all derivatives on the balance sheet at fair value. Derivatives that are not hedges must be adjusted to fair value through earnings. If a derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset, liability, or firm commitment through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value will be immediately recognized in earnings. Reported net income and equity may increase or decrease prospectively, depending on future levels of interest rates and other variables affecting the fair values of derivative instruments and hedged items, but will have no effect on cash flows.

Accumulated Other Comprehensive Loss at June 30, 2012 consists of approximately $3.2 million from the settlement of hedges, which are being amortized over the remaining term of the related senior unsecured notes. Currently, all of our designated derivative instruments are effective hedging instruments.

Over time, the realized and unrealized gains and losses held in Accumulated Other Comprehensive Loss will be reclassified into earnings as an adjustment to interest expense in the same periods in which the hedged interest payments affect earnings. We estimate that approximately $0.4 million of the current balance held in Accumulated Other Comprehensive Loss will be reclassified into earnings within the next 12 months.

The following table presents the effect of our derivative financial instruments and our share of our joint venture’s derivative financial instruments on the Consolidated Statements of Income and Comprehensive Income for the three months ended June 30, 2012 and 2011, respectively (amounts in thousands):

		Amount of Loss Recognized in Other Comprehensive Loss (Effective Portion) For the Three Months Ended					Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Interest Expense/ Equity in net income of unconsolidated joint ventures (Effective Portion) For the Three Months Ended					Amount of Loss Recognized in Interest Expense/Equity in Net Income of Unconsolidated Joint Ventures (Ineffective Portion) For the Three Months Ended
Designation\Cash Flow	Derivative	June 30, 2012			June 30, 2011		June 30, 2012			June 30, 2011		June 30, 2012			June 30, 2011
Qualifying	Interest Rate Swaps/Caps	$	(434	)	$	—	$	(245	)	$	—	$	(2	)	$	—

Non-qualifying	Interest Rate Caps/Currency Hedges	—			—		—			—		—			—

The following table presents the effect of our derivative financial instruments and our share of our joint venture’s derivative financial instruments on the Consolidated Statements of Income for the six months ended June 30, 2012 and 2011, respectively (amounts in thousands):

		Amount of Loss Recognized in Other Comprehensive Loss (Effective Portion) For the Six Months Ended					Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Interest Expense/ Equity in net income of unconsolidated joint ventures (Effective Portion) For the Six Months Ended					Amount of Loss Recognized in Interest Expense/Equity in Net Income of Unconsolidated Joint Ventures (Ineffective Portion) For the Six Months Ended
Designation\Cash Flow	Derivative	June 30, 2012			June 30, 2011		June 30, 2012			June 30, 2011		June 30, 2012			June 30, 2011
Qualifying	Interest Rate Swaps/Caps	$	(538	)	$	—	$	(489	)	$	—	$	(2	)	$	—

Non-qualifying	Interest Rate Caps/Currency Hedges	—			—		—			—		—			—

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

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-Number 133
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB
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-Number 133
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+ Details

Related Party Transactions

6 Months Ended

Jun. 30, 2012

Related Party Transactions

Related Party Transactions

10. 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. An affiliate of ours has entered into an arrangement with Alliance whereby it will receive a profit participation above a certain threshold for services provided by Alliance to tenants above the base services specified in their lease agreements. The affiliate received approximately $0.7 million, $1.4 million, $0.8 million and $1.0 million for the three and six months ended June 30, 2012 and 2011, respectively. We paid Alliance approximately $1.1 million, $1.9 million, $0.8 million and $1.5 million for three and six months ended June 30, 2012 and 2011, respectively, for these services (excluding services provided directly to tenants).

Allocated Expenses from SL Green

Property operating expenses include an allocation of salary and other operating costs from SL Green based on square footage of the related parties. Such amount was approximately $1.5 million, $3.1 million, $1.3 million and $2.8 million for the three and six months ended June 30, 2012 and 2011, respectively.

Insurance

We obtained insurance coverage through an insurance program administered by SL Green. In connection with this program we incurred insurance expense of approximately $1.0 million, $2.1 million, $1.0 million and $1.9 million for the three and six months ended June 30, 2012 and 2011, respectively.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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-Name Statement of Financial Accounting Standard (FAS)
-Number 57
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+ Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies

Commitments and Contingencies

11. Commitments and Contingencies

We are not presently involved in any material litigation nor, to our knowledge, is any material litigation threatened against us or our properties, other than routine litigation arising in the ordinary course of business. Management believes the costs, if any, incurred by us related to this litigation will not materially affect our financial position, operating results or liquidity.

The following is a schedule of future minimum lease payments under non-cancellable operating lease obligations with initial terms in excess of one year as of June 30, 2012 (amounts in thousands):

June 30,	Non-cancellable operating leases

2012	$	5,237
2013	10,474
2014	10,474
2015	10,474
2016	10,474
Thereafter	293,855
Total minimum lease payments	$	340,988

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Environmental Matters

6 Months Ended

Jun. 30, 2012

Environmental Matters

Environmental Matters

12. 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 the properties were sold.

- Definition

The entire disclosure for environmental loss contingencies, such as presence of hazardous waste, relevant information from reports issued by regulators, and estimated costs to achieve compliance with regulatory requirements. This element may be used for all of an entity's disclosures about environmental loss contingencies.

+ References + Details

Segment Information

6 Months Ended

Jun. 30, 2012

Segment Information

Segment Information

13. Segment Information

We are engaged in owning, managing and leasing commercial office properties in Manhattan, Westchester County, Connecticut and Long Island City and have two reportable segments, real estate and debt investments. We evaluate real estate performance and allocate resources based on earnings contribution to income from continuing operations.

Our real estate portfolio is primarily located in the geographical markets of Manhattan, Westchester County, Connecticut and Long Island City. 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). Debt investments relate to junior participation and mezzanine loans that were sold in March 2012 and February 2011, respectively.

Selected results of operations for the three and six months ended June 30, 2012 and 2011 and selected asset information as of June 30, 2012 and December 31, 2011, regarding our operating segments are as follows (amounts in thousands):

	Real Estate Segment		Debt Segment		Total Company
Total revenues:
Three months ended June 30, 2012	$	117,090	$	—	$	117,090
Three months ended June 30, 2011, As Adjusted	113,998		—		113,998
Six months ended June 30, 2012	233,421		—		233,421
Six months ended June 30, 2011, As Adjusted	231,291		3,077		234,368

Net income:
Three months ended June 30, 2012	$	18,022	$	—	$	18,022
Three months ended June 30, 2011, As Adjusted	19,269		—		19,269
Six months ended June 30, 2012	27,006		469		27,475
Six months ended June 30, 2011, As Adjusted	41,561		6,173		47,734

Total assets:
As of:
June 30, 2012	$	4,625,020	$	—	$	4,625,020
December 31, 2011	4,529,554		600		4,530,154

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 segment. Interest costs for the debt segment are imputed assuming 100% leverage at our 2011 revolving credit facility borrowing cost. We also allocate loan loss reserves, net of recoveries to the debt investment. We do not allocate marketing, general and administrative expenses to the debt 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 attributable to common unitholder for the three and six months ended June 30, 2012 and 2011 (amounts in thousands):

	Three Months Ended June 30,			Three Months Ended June 30,			Six Months Ended June 30,			Six Months Ended June 30,
	2012			2011			2012			2011

Net income	$	18,022		$	19,269		$	27,475		$	47,734
Net income attributable to noncontrolling interests in other partnerships	(2,067		)	(3,176		)	(3,440		)	(6,729		)
Net income attributable to ROP common unitholder	$	15,955		$	16,093		$	24,035		$	41,005

- 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

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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

+ Details

Supplemental Disclosure of Non-Cash Operating and Investing Activities

6 Months Ended

Jun. 30, 2012

Supplemental Disclosure of Non-Cash Operating and Investing Activities

Supplemental Disclosure of Non-Cash Operating and Investing Activities

14. Supplemental Disclosure of Non-Cash Operating and Investing Activities

The following table provides information on non-cash operating and investing activities (amounts in thousands):

	Six Months Ended June 30,
	2012		2011

Tenant improvements and capital expenditures payable	$	4,090	$	1,825
Deferred leasing payable	344		1,222
Contributions from common unitholder	33,090		—

Subsequent Events

6 Months Ended

Jun. 30, 2012

Subsequent Events

Subsequent Events

15. Subsequent Events

In July 2012, we, along with our joint venture partner, sold the property located at One Court Square, Long Island City, NY, for $481.1 million. The transaction included the assumption by the purchaser of $315.0 million of existing debt.

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2012

Significant Accounting Policies

Principles of Consolidation

Principles of Consolidation

Investment in Commercial Real Estate Properties

Investment in Commercial Real Estate Properties

	June 30, 2012			December 31, 2011
Identified intangible assets (included in other assets):
Gross amount	$	169,181		$	169,181
Accumulated amortization	(109,594		)	(101,626		)
Net	$	59,587		$	67,555

Identified intangible liabilities (included in deferred revenue):
Gross amount	$	375,946		$	375,946
Accumulated amortization	(206,728		)	(188,914		)
Net	$	169,218		$	187,032

Income Taxes

Income Taxes

No provision has been made for income taxes in the accompanying consolidated financial statements since such taxes, if any, are the responsibility of the individual partners.

Reserve for Possible Credit Losses

Reserve for Possible Credit Losses

Use of Estimates

Use of Estimates

Fair Value Measurements

Fair Value Measurements

We use the following methods and assumptions in estimating fair value disclosures for financial instruments:

· Mortgage payable and other debt: The fair value of borrowings is estimated by discounting the future cash flows using current interest rates at which similar borrowings could be made by us.

The methodologies used for valuing financial instruments have been categorized into three broad levels as follows:

Level 1 - Quoted prices in active markets for identical instruments.

Level 2 - Valuations based principally on other observable market parameters, including

· Quoted prices in active markets for similar instruments,

· Quoted prices in less active or inactive markets for identical or similar instruments,

· Other observable inputs (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates), and

· Market corroborated inputs (derived principally from or corroborated by observable market data).

Level 3 - Valuations based significantly on unobservable inputs.

· Valuations based on internal models with significant unobservable inputs.

Concentrations of Credit Risk

Concentrations of Credit Risk

Accounting Standards Updates

Accounting Standards Updates

- Definition

Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 140
-Paragraph 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Accounting Principles Board Opinion (APB)
-Number 18
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Article 3A
-Section 02, 03

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-URI http://asc.fasb.org/section&trid=2197723

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-URI http://asc.fasb.org/subtopic&trid=2197087

+ Details

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 20
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 6-34, 43, 47, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 4
-Paragraph 11
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 740
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-Name Accounting Standards Codification
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-Topic 740
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2144681

+ Details

Organization and Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2012

Organization and Basis of Presentation

Schedule of commercial office properties

Location	Ownership	Number of Properties	Square Feet	Weighted Average Occupancy (1)
Manhattan	Consolidated properties	9	6,251,400	95.6	%

Suburban	Consolidated properties	17	2,785,500	81.1	%
	Unconsolidated properties	1	1,402,000	100.0	%
		27	10,438,900	92.3	%

(1)	The weighted average occupancy represents the total leased square feet divided by total available rentable square feet.

Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2012

Significant Accounting Policies

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

	June 30, 2012			December 31, 2011
Identified intangible assets (included in other assets):
Gross amount	$	169,181		$	169,181
Accumulated amortization	(109,594		)	(101,626		)
Net	$	59,587		$	67,555

Identified intangible liabilities (included in deferred revenue):
Gross amount	$	375,946		$	375,946
Accumulated amortization	(206,728		)	(188,914		)
Net	$	169,218		$	187,032

Mortgage Note Payable (Tables)

6 Months Ended

Jun. 30, 2012

Mortgage Note Payable

Schedule of the first mortgage note payable collateralized by the property and assignment of leases

Property	Interest Rate(1)		Maturity Date	June 30, 2012		December 31, 2011
919 Third Avenue New York, NY (2)(3)	5.12	%	6/2023	$	500,000	$	500,000

(1)		Effective interest rate for the three months ended June 30, 2012.
(2)		We own a 51% controlling interest in the joint venture that is the borrower on this loan. This loan is non-recourse to us. In June 2011, our joint venture replaced the $219.6 million 6.87% mortgage that was due to mature in August 2011 with a $500.0 million mortgage.
(3)		Held in a bankruptcy remote special purpose entity.

Corporate Indebtedness (Tables)

6 Months Ended

Jun. 30, 2012

Corporate Indebtedness

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

Issuance	June 30, 2012 Unpaid Principal Balance		June 30, 2012 Accreted Balance		December 31, 2011 Accreted Balance		Coupon Rate(1)		Effective Rate		Term (in Years)	Maturity
June 27, 2005(2)	$	357	$	357	$	657	4.000	%	4.000	%	20	June 15, 2025
March 16, 2010(3)	250,000		250,000		250,000		7.750	%	7.750	%	10	March 15, 2020
August 5, 2011(3)	250,000		249,593		249,565		5.000	%	5.031	%	7	August 15, 2018
March 31, 2006	275,000		274,824		274,804		6.000	%	6.019	%	10	March 31, 2016
August 13, 2004	98,578		98,578		98,578		5.875	%	5.875	%	10	August 15, 2014
	$	873,935	$	873,352	$	873,604

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

(3) We, SL Green and the Operating Partnership are co-obligators.

Schedule of combined aggregate principal maturities of mortgage loans payable, senior unsecured notes (net of discount) and share of joint venture debt, including extension options

	Scheduled Amortization		Principal Repayments		Revolving Credit Facility		Senior Unsecured Notes		Total		Joint Venture Debt
2012	$	—	$	—	$	—	$	—	$	—	$	—
2013	—		—		—		—		—		—
2014	—		—		—		98,578		98,578		—
2015	—		—		—		357		357		94,500
2016	4,116		—		80,000		274,824		358,940		—
Thereafter	45,276		450,608		—		499,593		995,477		—
	$	49,392	$	450,608	$	80,000	$	873,352	$	1,453,352	$	94,500

Schedule of interest expense, excluding capitalized interest

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2012			2011			2012			2011
Interest expense	$	22,982		$	14,240		$	47,268		$	28,052
Interest income	(2		)	(7		)	(4		)	(10		)
Interest expense, net	$	22,980		$	14,233		$	47,264		$	28,042
Interest capitalized	$	—		$	—		$	—		$	—

- 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 SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

Reference 2: 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Financial Instruments: Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2012

Financial Instruments: Derivatives and Hedging

Schedule of effect of derivative financial instruments on Consolidated Statements of Income and Comprehensive Income

		Amount of Loss Recognized in Other Comprehensive Loss (Effective Portion) For the Three Months Ended					Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Interest Expense/ Equity in net income of unconsolidated joint ventures (Effective Portion) For the Three Months Ended					Amount of Loss Recognized in Interest Expense/Equity in Net Income of Unconsolidated Joint Ventures (Ineffective Portion) For the Three Months Ended
Designation\Cash Flow	Derivative	June 30, 2012			June 30, 2011		June 30, 2012			June 30, 2011		June 30, 2012			June 30, 2011
Qualifying	Interest Rate Swaps/Caps	$	(434	)	$	—	$	(245	)	$	—	$	(2	)	$	—

Non-qualifying	Interest Rate Caps/Currency Hedges	—			—		—			—		—			—

The following table presents the effect of our derivative financial instruments and our share of our joint venture’s derivative financial instruments on the Consolidated Statements of Income for the six months ended June 30, 2012 and 2011, respectively (amounts in thousands):

		Amount of Loss Recognized in Other Comprehensive Loss (Effective Portion) For the Six Months Ended					Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Interest Expense/ Equity in net income of unconsolidated joint ventures (Effective Portion) For the Six Months Ended					Amount of Loss Recognized in Interest Expense/Equity in Net Income of Unconsolidated Joint Ventures (Ineffective Portion) For the Six Months Ended
Designation\Cash Flow	Derivative	June 30, 2012			June 30, 2011		June 30, 2012			June 30, 2011		June 30, 2012			June 30, 2011
Qualifying	Interest Rate Swaps/Caps	$	(538	)	$	—	$	(489	)	$	—	$	(2	)	$	—

Non-qualifying	Interest Rate Caps/Currency Hedges	—			—		—			—		—			—

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies

Schedule of future minimum lease payments under non-cancellable operating lease obligations with initial terms in excess of one year

June 30,	Non-cancellable operating leases

2012	$	5,237
2013	10,474
2014	10,474
2015	10,474
2016	10,474
Thereafter	293,855
Total minimum lease payments	$	340,988

Segment Information (Tables)

6 Months Ended

Jun. 30, 2012

Segment Information

Schedule of selected results of operations and selected asset information

	Real Estate Segment		Debt Segment		Total Company
Total revenues:
Three months ended June 30, 2012	$	117,090	$	—	$	117,090
Three months ended June 30, 2011, As Adjusted	113,998		—		113,998
Six months ended June 30, 2012	233,421		—		233,421
Six months ended June 30, 2011, As Adjusted	231,291		3,077		234,368

Net income:
Three months ended June 30, 2012	$	18,022	$	—	$	18,022
Three months ended June 30, 2011, As Adjusted	19,269		—		19,269
Six months ended June 30, 2012	27,006		469		27,475
Six months ended June 30, 2011, As Adjusted	41,561		6,173		47,734

Total assets:
As of:
June 30, 2012	$	4,625,020	$	—	$	4,625,020
December 31, 2011	4,529,554		600		4,530,154

Schedule of reconciliation of income from continuing operations before noncontrolling interest to net income to common unitholder

	Three Months Ended June 30,			Three Months Ended June 30,			Six Months Ended June 30,			Six Months Ended June 30,
	2012			2011			2012			2011

Net income	$	18,022		$	19,269		$	27,475		$	47,734
Net income attributable to noncontrolling interests in other partnerships	(2,067		)	(3,176		)	(3,440		)	(6,729		)
Net income attributable to ROP common unitholder	$	15,955		$	16,093		$	24,035		$	41,005

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Supplemental Disclosure of Non-Cash Operating and Investing Activities (Tables)

6 Months Ended

Jun. 30, 2012

Supplemental Disclosure of Non-Cash Operating and Investing Activities

Schedule of information on non-cash operating and investing activities

	Six Months Ended June 30,
	2012		2011

Tenant improvements and capital expenditures payable	$	4,090	$	1,825
Deferred leasing payable	344		1,222
Contributions from common unitholder	33,090		—

Organization and Basis of Presentation (Details) $ in Millions	1 Months Ended	6 Months Ended
	Nov. 30, 2011 property	Jun. 30, 2012 USD ($) sqft acre Y property	Nov. 01, 2011 USD ($)
Organization and Basis of Presentation
Number of properties transferred from the operating partnership to the entity by SL Green \| property	5
Carrying value of properties transferred by SL Green \| $			$ 683.8
Development parcels
Real estate properties
Number of Properties \| Y		4
Area of land (in acres) \| acre		81
Estimated area of office space that can be developed on land held (in square feet) \| sqft		1,100,000
Invested amount for development of office space \| $		$ 67.1
Development property
Real estate properties
Number of Properties \| property		1
Square Feet \| sqft		36,800
Manhattan \| Consolidated properties
Real estate properties
Number of Properties \| property		9
Square Feet \| sqft		6,251,400
Weighted Average Occupancy ( as a percent)		95.60%
Suburban \| Consolidated properties
Real estate properties
Number of Properties \| property		17
Square Feet \| sqft		2,785,500
Weighted Average Occupancy ( as a percent)		81.10%
Suburban \| Unconsolidated properties
Real estate properties
Number of Properties \| property		1
Square Feet \| sqft		1,402,000
Weighted Average Occupancy ( as a percent)		100.00%
Total
Real estate properties
Number of Properties \| property		27
Square Feet \| sqft		10,438,900
Weighted Average Occupancy ( as a percent)		92.30%

Significant Accounting Policies (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
Significant Accounting Policies (Details) $ in Thousands	Nov. 30, 2011 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)	Jun. 30, 2012 USD ($) Y	Jun. 30, 2011 USD ($)	Dec. 31, 2011 USD ($)
Investment in Commercial Real Estate Properties
Impairment charges recorded \| $	$ 5,800	$ (5,789)		$ (5,789)
Increase in rental revenue from amortization of acquired leases \| $		4,800	$ 5,900	9,800	$ 12,600
Increase/ (reduction) in interest expense from amortization of above-market rate mortgages \| $		100	$ (900)	300	(1,400)
Identified intangible assets (included in other assets):
Gross amount \| $		169,181		169,181		$ 169,181
Accumulated amortization \| $		(109,594)		(109,594)		(101,626)
Net \| $		59,587		59,587		67,555
Identified intangible liabilities (included in deferred revenue):
Gross amount \| $		375,946		375,946		375,946
Accumulated amortization \| $		(206,728)		(206,728)		(188,914)
Net \| $		$ 169,218		169,218		$ 187,032
Reserve for Possible Credit Losses
Recoveries recorded in connection with sale of debt investments \| $				$ 500	$ 3,200
Buildings
Investment in Commercial Real Estate Properties
Estimated useful life, low end of range (in years) \| Y				3
Estimated useful life, high end of range (in years) \| Y				40
Other intangible assets
Investment in Commercial Real Estate Properties
Estimated useful life of intangible assets, low end of range (in years) \| Y				1
Estimated useful life of intangible assets, high end of range (in years) \| Y				14
Above-market leases
Investment in Commercial Real Estate Properties
Estimated useful life of intangible assets, low end of range (in years) \| Y				1
Estimated useful life of intangible assets, high end of range (in years) \| Y				14
Below-market leases
Investment in Commercial Real Estate Properties
Estimated useful life of intangible assets, low end of range (in years) \| Y				1
Estimated useful life of intangible assets, high end of range (in years) \| Y				14
In-place leases
Investment in Commercial Real Estate Properties
Estimated useful life of intangible assets, low end of range (in years) \| Y				1
Estimated useful life of intangible assets, high end of range (in years) \| Y				14

Significant Accounting Policies (Details 2)	6 Months Ended
Significant Accounting Policies (Details 2)	Jun. 30, 2012 Tenant
Concentrations of Credit Risk
Number of tenants concentration risk	3
Annualized cash rent \| Customer concentration
Concentrations of Credit Risk
Maximum percentage of annualized cash rent for any one tenant not individually disclosed	3.30%
Annualized cash rent \| Customer concentration \| 750 Third Avenue
Concentrations of Credit Risk
Percentage of concentration	11.00%
Annualized cash rent \| Customer concentration \| 810 Seventh Avenue
Concentrations of Credit Risk
Percentage of concentration	10.00%
Annualized cash rent \| Customer concentration \| 919 Third Avenue
Concentrations of Credit Risk
Percentage of concentration	12.00%
Annualized cash rent \| Customer concentration \| 1185 Avenue of the Americas
Concentrations of Credit Risk
Percentage of concentration	19.00%
Annualized cash rent \| Customer concentration \| 1350 Avenue of the Americas
Concentrations of Credit Risk
Percentage of concentration	9.00%
Annualized cash rent \| Customer concentration \| 555 West 57th Street
Concentrations of Credit Risk
Percentage of concentration	9.00%
Annualized cash rent \| First tenant \| Customer concentration
Concentrations of Credit Risk
Percentage of concentration	3.60%
Annualized cash rent \| Second tenant \| Customer concentration
Concentrations of Credit Risk
Percentage of concentration	3.70%
Annualized cash rent \| Third tenant \| Customer concentration
Concentrations of Credit Risk
Percentage of concentration	5.80%

Property Acquisition (Details) - 304 Park Avenue $ in Millions	1 Months Ended
	Jun. 30, 2012 USD ($) sqft
Property Acquisition
Area of property (in square feet) \| sqft	215,000
Purchase price	$ 135.0
Cash paid	102.0
Value of units of limited partnership interest in the Operating Partnership	$ 33.0

- Definition

The acquisition-date fair value of the equity interests of the acquirer, including the number of instruments or interests issued or issuable in consideration for the business combination.

+ References + Details

Investment in Unconsolidated Joint Venture (Details) $ in Thousands, sqft in Millions	1 Months Ended				3 Months Ended	6 Months Ended
	Jul. 31, 2012 USD ($)	Nov. 30, 2011 USD ($)	Nov. 30, 2005 USD ($)	May 31, 2005 USD ($) sqft Y story	Jun. 30, 2012 USD ($)	Jun. 30, 2012 USD ($)
Investment in unconsolidated joint venture
Impairment charges recorded		$ 5,800			$ (5,789)	$ (5,789)
One Court Square
Investment in unconsolidated joint venture
Real estate property acquired (in sq ft.) \| sqft				1.4
Number of stories in real estate property acquired \| story				50
Acquisition price				$ 471,000
Percentage of property leased to seller				100.00%
Lease term (in years) \| Y				15
Joint venture interest sold (as a percent)			70.00%
Consideration received for sale of joint venture interest			$ 329,700
Mortgage debt assumed by joint venture partner			$ 220,500
Outstanding mortgage debt		315,000
Sales price	$ 481,100	475,600
Impairment charges recorded		$ 5,800

Mortgage Note Payable (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
Mortgage Note Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Mortgage Note Payable
Mortgage note payable		$ 500,000		$ 500,000
Refinanced mortgage loan			$ 500,000
Gross book value of the property collateralizing the mortgage note		$ 1,300,000
Consolidated joint venture
Mortgage Note Payable
Controlling interest in the joint venture (as a percent)		51.00%
Unconsolidated joint venture
Mortgage Note Payable
Total indebtness		$ 315,000
Fixed interest rate of debt (as a percent)		4.91%
Aggregate pro-rata share of the non-recourse debt		$ 94,500
919 Third Avenue New York, NY \| Consolidated joint venture
Mortgage Note Payable
Interest rate (as a percent)		5.12%
Interest rate of repaid mortgage loan (as a percent)	6.87%
Mortgage note payable		$ 500,000		$ 500,000
Repaid mortgage loan	$ 219,600
Refinanced mortgage loan		$ 500,000

Corporate Indebtedness (Details)	1 Months Ended	3 Months Ended		6 Months Ended
Corporate Indebtedness (Details)	Nov. 30, 2011 USD ($)	Jun. 30, 2012 USD ($) Y	Jun. 30, 2011 USD ($)	Jun. 30, 2012 USD ($) shares Y	Jun. 30, 2011 USD ($)	Dec. 31, 2011 USD ($)
Corporate Indebtedness
Outstanding under line of credit facility		$ 80,000,000		$ 80,000,000		$ 350,000,000
Debt disclosures by scheduled maturity date
Accreted Balance		873,352,000		873,352,000		873,604,000
Scheduled amortization and principal repayments
2014		98,578,000		98,578,000
2015		357,000		357,000
2016		358,940,000		358,940,000
Thereafter		995,477,000		995,477,000
Total amortization of debt and principal repayments		1,453,352,000		1,453,352,000
Interest expense
Interest expense		22,982,000	$ 14,240,000	47,268,000	$ 28,052,000
Interest income		(2,000)	(7,000)	(4,000)	(10,000)
Interest expense, net		22,980,000	$ 14,233,000	47,264,000	$ 28,042,000
Joint venture
Principal Repayments
2015		94,500,000		94,500,000
Total principal repayments		$ 94,500,000		$ 94,500,000
2011 Revolving Credit Facility
Corporate Indebtedness
Maximum borrowing capacity	$ 1,500,000,000
Interest rate, description	LIBOR
Interest rate added to base rate (as a percent)		1.50%		1.50%
Extension option available (in years) \| Y				1
Extension fee required to be paid (as a percent)				0.20%
Facility fee on total commitments, payable quarterly in arrears (as a percent)				0.35%
Outstanding under line of credit facility		$ 80,000,000		$ 80,000,000
Letters of credit		109,300,000		109,300,000
Undrawn capacity under line of credit facility		1,300,000,000		1,300,000,000
Principal Repayments
2016		80,000,000		80,000,000
Total principal repayments		80,000,000		$ 80,000,000
2011 Revolving Credit Facility \| Minimum
Corporate Indebtedness
Interest rate added to base rate (as a percent)	1.00%
Facility fee on total commitments, payable quarterly in arrears (as a percent)				0.175%
2011 Revolving Credit Facility \| Maximum
Corporate Indebtedness
Interest rate added to base rate (as a percent)	1.85%
Maximum borrowing capacity, optional expansion		1,750,000,000		$ 1,750,000,000
Facility fee on total commitments, payable quarterly in arrears (as a percent)				0.45%
Senior Unsecured Notes
Debt disclosures by scheduled maturity date
Unpaid Principal Balance		873,935,000		$ 873,935,000
Accreted Balance		873,352,000		873,352,000		873,604,000
Principal Repayments
2014		98,578,000		98,578,000
2015		357,000		357,000
2016		274,824,000		274,824,000
Thereafter		499,593,000		499,593,000
Total principal repayments		873,352,000		873,352,000
4.00% senior unsecured notes maturing on June 15, 2025
Debt disclosures by scheduled maturity date
Unpaid Principal Balance		357,000		357,000
Accreted Balance		$ 357,000		$ 357,000		657,000
Coupon Rate (as a percent)		4.00%		4.00%
Effective Rate (as a percent)		4.00%		4.00%
Term (in years) \| Y		20		20
Adjusted exchange rate for the debentures of SL Green common stock (in shares) \| shares				7.7461
Principal amount of debentures, basis for conversion		$ 1,000		$ 1,000
Adjusted reference dividend for debentures				1.3491
Repayment of debt				$ 300,000
7.75% senior unsecured notes maturing on March 15, 2020
Debt disclosures by scheduled maturity date
Unpaid Principal Balance		250,000,000		250,000,000
Accreted Balance		$ 250,000,000		$ 250,000,000		250,000,000
Coupon Rate (as a percent)		7.75%		7.75%
Effective Rate (as a percent)		7.75%		7.75%
Term (in years) \| Y		10		10
5.00% senior unsecured notes maturing on August 15, 2018
Debt disclosures by scheduled maturity date
Unpaid Principal Balance		$ 250,000,000		$ 250,000,000
Accreted Balance		$ 249,593,000		$ 249,593,000		249,565,000
Coupon Rate (as a percent)		5.00%		5.00%
Effective Rate (as a percent)		5.031%		5.031%
Term (in years) \| Y		7		7
6.00% senior unsecured notes maturing on March 31, 2016
Debt disclosures by scheduled maturity date
Unpaid Principal Balance		$ 275,000,000		$ 275,000,000
Accreted Balance		$ 274,824,000		$ 274,824,000		274,804,000
Coupon Rate (as a percent)		6.00%		6.00%
Effective Rate (as a percent)		6.019%		6.019%
Term (in years) \| Y		10		10
5.875% senior unsecured notes maturing on August 15, 2014
Debt disclosures by scheduled maturity date
Unpaid Principal Balance		$ 98,578,000		$ 98,578,000
Accreted Balance		$ 98,578,000		$ 98,578,000		$ 98,578,000
Coupon Rate (as a percent)		5.875%		5.875%
Effective Rate (as a percent)		5.875%		5.875%
Term (in years) \| Y		10		10
3.00% exchangeable senior notes due 2017
Debt disclosures by scheduled maturity date
Coupon Rate (as a percent)		3.00%		3.00%
Mortgage Loans Payable
Scheduled Amortization
2016		$ 4,116,000		$ 4,116,000
Thereafter		45,276,000		45,276,000
Total amortization of debt		49,392,000		49,392,000
Principal Repayments
Thereafter		450,608,000		450,608,000
Total principal repayments		$ 450,608,000		$ 450,608,000

Fair Value of Financial Instruments (Details) $ in Millions	Jun. 30, 2012 USD ($)
Fair Value of Financial Instruments
Mortgage note payable and the senior unsecured notes	$ 1,400.0
Debt instrument hedged amount	30.0
Floating rate debt inclusive of revolving credit facility	50.0
Level 3
Fair Value of Financial Instruments
Mortgage note payable and the senior unsecured notes	1,500.0
Floating rate debt inclusive of revolving credit facility	$ 49.9

Financial Instruments: Derivatives and Hedging (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2012 USD ($)	Jun. 30, 2012 USD ($)
Financial Instruments: Derivatives and Hedging
Loss from settlement of hedges included in accumulated other comprehensive loss	$ (3,200)	$ (3,200)
Estimated current balance held in accumulated other comprehensive loss to be reclassified into earnings within the next 12 months		400
Amount of Loss Recognized in Other Comprehensive Loss (Effective Portion) on derivatives qualifying as hedges	(434)	(538)
Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Interest Expense/ Equity in net income of unconsolidated joint ventures (Effective Portion) on derivatives qualifying as hedges	(245)	(489)
Amount of Loss Recognized in Interest Expense/Equity in Net Income of Unconsolidated Joint Ventures (Ineffective Portion) on derivatives qualifying as hedges	$ (2)	$ (2)

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Affiliate
Related Party Transactions
Profit participation received by related party	$ 0.7	$ 0.8	$ 1.4	$ 1.0
Alliance Building Services
Related Party Transactions
Payments made for services	1.1	0.8	1.9	1.5
SL Green
Related Party Transactions
Allocation of salary and other operating costs from related party	1.5	1.3	3.1	2.8
Insurance expense incurred	$ 1.0	$ 1.0	$ 2.1	$ 1.9

Commitments and Contingencies (Details) $ in Thousands	Jun. 30, 2012 USD ($)
Future minimum lease payments under non-cancellable operating lease obligations
2012	$ 5,237
2013	10,474
2014	10,474
2015	10,474
2016	10,474
Thereafter	293,855
Total minimum lease payments	$ 340,988

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information (Details) $ in Thousands	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)	Jun. 30, 2012 USD ($) segment	Jun. 30, 2011 USD ($)	Dec. 31, 2011 USD ($)
Segment Information
Number of reportable segments \| segment			2
Segment information
Total revenues	$ 117,090	$ 113,998	$ 233,421	$ 234,368
Net income	18,022	19,269	27,475	47,734
Total assets	4,625,020		$ 4,625,020		$ 4,530,154
Leverage rate assumption (as a percent)			100.00%
Reconciliation of income from continuing operations to net income attributable to common unitholder
Net income	18,022	19,269	$ 27,475	47,734
Net income attributable to noncontrolling interests in other partnerships	(2,067)	(3,176)	(3,440)	(6,729)
Net income attributable to ROP common unitholder	15,955	16,093	24,035	41,005
Real Estate Segment
Segment information
Total revenues	117,090	113,998	233,421	231,291
Net income	18,022	19,269	27,006	41,561
Total assets	4,625,020		4,625,020		4,529,554
Reconciliation of income from continuing operations to net income attributable to common unitholder
Net income	$ 18,022	$ 19,269	27,006	41,561
Debt Segment
Segment information
Total revenues				3,077
Net income			469	6,173
Total assets					$ 600
Reconciliation of income from continuing operations to net income attributable to common unitholder
Net income			$ 469	$ 6,173

Supplemental Disclosure of Non-Cash Operating and Investing Activities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Supplemental Disclosure of Non-Cash Operating and Investing Activities
Tenant improvements and capital expenditures payable	$ 4,090	$ 1,825
Deferred leasing payable	344	$ 1,222
Contributions from common unitholder	$ 33,090

Subsequent Events (Details) - One Court Square - USD ($)	1 Months Ended
	Jul. 31, 2012	Nov. 30, 2011
Subsequent Events
Sales price	$ 481,100,000	$ 475,600,000
Outstanding mortgage debt		$ 315,000,000
Joint venture \| Sale of property
Subsequent Events
Sales price	481,100,000
Outstanding mortgage debt	$ 315,000,000