8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

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

Date of Report (Date of earliest event reported):

July 21, 2021

SL GREEN REALTY CORP.

(Exact name of registrant as specified in its charter)

Maryland

(State of Incorporation)

1-13199	13-3956775
(Commission File Number)	(I.R.S. employer identification number)

One Vanderbilt Avenue		10017
New York,	New York	(Zip Code)

(Address of principal executive offices)

(212) 594-2700

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

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

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

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

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

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

Registrant	Trading Symbol	Title of Each Class	Name of Each Exchange on Which Registered
SL Green Realty Corp.	SLG	Common Stock, $0.01 par value	New York Stock Exchange
SL Green Realty Corp.	SLG.PRI	6.500% Series I Cumulative Redeemable Preferred Stock, $0.01 par value	New York Stock Exchange

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

Emerging growth company     [☐]

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

Item 2.02.    Results of Operations and Financial Condition

Following the issuance of a press release on July 21, 2021 announcing SL Green Realty Corp.’s, or the Company, results for the quarter ended June 30, 2021, the Company has made available on its website supplemental information regarding the Company’s operations that is too voluminous for a press release. The Company is attaching the press release as Exhibit 99.1 and the supplemental package as Exhibit 99.2 to this Current Report on Form 8-K.

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

Item 7.01.    Regulation FD Disclosure

As discussed in Item 2.02 above, on July 21, 2021, the Company issued a press release announcing its results for the quarter ended June 30, 2021.

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

Item 9.01.    Financial Statements and Exhibits

(d)     Exhibits

    99.1    Press release regarding results for the quarter ended June 30, 2021.

    99.2    Supplemental package.

Non-GAAP Supplemental Financial Measures

Funds from Operations (FFO)

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

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

Funds Available for Distribution (FAD)

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

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

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

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

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

Net Operating Income (NOI) and Cash NOI

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

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

Coverage Ratios

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

SIGNATURES

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

	SL GREEN REALTY CORP.
	/s/ Matthew J. DiLiberto
	Matthew J. DiLiberto
	Chief Financial Officer
Date: July 22, 2021

EX-99.1

Exhibit 99.1

CONTACT                    

Matt DiLiberto

Chief Financial Officer

(212) 594-2700

SL GREEN REALTY CORP. REPORTS

SECOND QUARTER 2021 EPS OF $1.51 PER SHARE;

AND FFO OF $1.60 PER SHARE

Financial and Operating Highlights

•Net income attributable to common stockholders of $1.51 per share for the second quarter of 2021 as compared to $0.76 per share for the same period in 2020. Net income attributable to common stockholders for the second quarter of 2021 includes net gains of $108.3 million, or $1.47 per share, recognized from the sales of 635-641 Sixth Avenue and our interests in 605 West 42nd Street, as compared to a net gain of $65.4 million, or $0.82 per share, recognized from the sale of the retail condominium at 609 Fifth Avenue in the second quarter of 2020.

•Funds from operations, or FFO, of $1.60 per share for the second quarter of 2021 as compared to $1.70 per share for the same period in 2020. FFO for the second quarter of the prior year included $12.4 million, or $0.15 per share, of lease termination income as compared to just $1.1 million, or $0.02 per share, of lease termination income in the second quarter of 2021.

•To date in 2021, the Company has repurchased or redeemed a combined 4.0 million shares of its common stock and units of its Operating Partnership, or OP units, under the previously announced $3.5 billion share repurchase plan,bringing total repurchases and redemptions to 36.5 million shares/units.

•Signed 42 Manhattan office leases covering 557,703 square feet in the second quarter and 63 Manhattan office leases covering 910,455 square feet for the first six months of 2021. The mark-to-market on signed Manhattan office leases was 1.1% lower for the second quarter and 1.7% lower for the first six months of 2021 than the previous fully escalated rents on the same spaces.

•Same-store cash net operating income, or NOI, including our share of same-store cash NOI from unconsolidated joint ventures, decreased by 3.7% for the second quarter of 2021 and decreased by 2.4% for the first six months of 2021 as compared to the same period in 2020, excluding lease termination income, an interim level that is consistent with our full-year 2021 goals and objectives.

•Manhattan same-store office occupancy was 93.6% as of June 30, 2021, inclusive of leases signed but not yet commenced.

Investing Highlights

•Closed on the previously announced sale of 635-641 Sixth Avenue for a gross sale price of $325.0 million, equating to more than $1,200 per square foot. The transaction generated net cash proceeds to the Company of $313.2 million.

•Closed on the previously announced sale of its 20.0% interest in 605 West 42nd Street, also known as "Sky," for a gross asset valuation of $858.1 million. The transaction generated net cash proceeds to the Company of $54.5 million.

•Closed on the acquisition of the fee interest in 461 Fifth Avenue for a gross purchase price of $28.0 million pursuant to a purchase option under the ground lease at the property, thereby consolidating a leasehold position into 100% unencumbered fee ownership.

Financing Highlights

•Along with our joint venture partners, closed on the previously announced $3.0 billion 10-year fixed-rate refinancing of One Vanderbilt Avenue. The new financing carries a stated coupon of 2.855 percent, equivalent to a rate of 2.947 percent inclusive of hedging costs, and replaces the previous $1.75 billion construction facility that had an outstanding balance of approximately $1.54 billion at the time of repayment.

Summary

New York, NY, July 21, 2021 - SL Green Realty Corp. (the "Company") (NYSE: SLG) today reported net income attributable to common stockholders for the quarter ended June 30, 2021 of $105.3 million, or $1.51 per share, as compared to net income of $56.4 million, or $0.76 per share, for the same quarter in 2020. Net income attributable to common stockholders for the second quarter of 2021 includes net gains totaling $108.3 million, or $1.47 per share, recognized from the sales of 635-641 Sixth Avenue and our interests in 605 West 42nd Street, as compared to a net gain of $65.4 million, or $0.82 per share, in the second quarter of 2020 recognized from the sale of the retail condominium at 609 Fifth Avenue.

The Company also reported net income attributable to common stockholders for the six months ended June 30, 2021 of $97.9 million, or $1.40 per share, as compared to net income of $171.2 million, or $2.28 per share, for the same period in 2020. Net income attributable to common stockholders for the six months ended June 30, 2021 includes $94.1 million, or $1.27 per share, of net gains recognized from the sale of real estate interests and non-cash fair value adjustments. Net income for the six months ended June 30, 2020 included $137.5 million, or $1.69 per share, of net gains recognized from the sale of real estate interests and non-cash fair value adjustments.

The Company reported FFO for the quarter ended June 30, 2021 of $117.7 million, or $1.60 per share, as compared to FFO for the same period in 2020 of $136.1 million, or $1.70 per share. FFO for the second quarter of the prior year included $12.4 million, or $0.15 per share, of lease termination income as compared to just $1.1 million, or $0.02 per share, of lease termination income included in the second quarter of 2021.

The Company also reported FFO for the six months ended June 30, 2021 of $246.0 million, or $3.33 per share, as compared to FFO of $308.1 million, or $3.79 per share, for the same period in 2020. FFO for the six months ended June 30, 2020 included $25.1 million, or $0.31 per share, of incremental income from Credit Suisse at 1 Madison Avenue representing rent through December 31, 2020.

All per share amounts are presented on a diluted basis.

Operating and Leasing Activity

For the quarter ended June 30, 2021, the Company reported consolidated revenues and operating income of $218.1 million and $88.7 million, respectively, compared to $253.7 million and $130.4 million, respectively, for the same period in 2020.

Same-store cash NOI, including our share of same-store cash NOI from unconsolidated joint ventures, decreased by 9.2% for the second quarter of 2021, and decreased 3.7% excluding lease termination income, as compared to the same period in 2020, an interim level that is consistent with our full-year 2021 goals and objectives.

Same-store cash NOI, including our share of same-store cash NOI from unconsolidated joint ventures, decreased by 5.4% for the six months June 30, 2021, and decreased 2.4% excluding lease termination income, as compared to the same period in 2020, an interim level that is consistent with our full-year 2021 goals and objectives.

During the second quarter of 2021, the Company signed 42 office leases in its Manhattan office portfolio totaling 557,703 square feet. The average lease term on the Manhattan office leases signed in the second quarter of 2021 was 4.7 years and average tenant concessions were 2.4 months of free rent with a tenant improvement allowance of $17.16 per rentable square foot, excluding leases signed at One Vanderbilt Avenue. Twenty-five leases comprising 265,798 square feet, representing office leases on space that had been occupied within the prior twelve months, are considered replacement leases on which mark-to-market is calculated. Those replacement leases had average starting rents of $84.12 per rentable square foot, representing a 1.1% decrease over the previous fully escalated rents on the same office spaces.

During the first six months of 2021, the Company signed 63 office leases in its Manhattan office portfolio totaling 910,455 square feet. The average lease term on the Manhattan office leases signed in the first six months of 2021 was 5.3 years and average tenant concessions were 4.7 months of free rent with a tenant improvement allowance of $39.76 per rentable square foot, excluding leases signed at One Vanderbilt Avenue. Thirty-eight leases comprising 453,124 square feet, representing office leases on space that had been occupied within the prior twelve months, are considered replacement leases on which mark-to-market is calculated. Those replacement leases had average starting rents of $72.98 per rentable square foot, representing a 1.7% decrease over the previous fully escalated rents on the same office spaces.

Occupancy in the Company's Manhattan same-store office portfolio was 93.6% as of June 30, 2021, inclusive of 53,962 square feet of leases signed but not yet commenced, as compared to 94.1% at the end of the previous quarter.

Significant leases that were signed in the second quarter included:

•Total of 227,670 square feet of leases signed at One Vanderbilt Avenue:

•New lease for 97,652 square feet, for 15.0 years;

•New lease with MSD Partners for 35,567 square feet, for 15.0 years;

•New lease with Mamoura Holdings (US), LLC for 28,448 square feet, for 10.0 years;

•Expansion lease with TD Securities for 24,020 square feet, for 20.0 years, which increases TD Securities' footprint in the building to 142,892 square feet;

•New lease with Kyndrel for 22,531 square feet, for 9.0 years;

•New lease with Nearwater Management LLC for 17,289 square feet, for 7.0 years; and

•Expansion lease with InTandem Capital Partners LLC and Sagewind Capital LLC for 2,163 square feet, for 7.0 years, which increases their joint footprint in the building to 12,328 square feet;

•Early renewal with Wells Fargo Bank N.A. for 103,803 square feet at 100 Park Avenue, for 2.1 years;

•New lease with GQG Partners, LLC for 8,936 square feet at 280 Park Avenue, for 15.0 years; and

•New retail lease with Vashi for 11,777 square feet at 110 Greene Street, for 15.0 years.

Investment Activity

To date in 2021, the Company has repurchased 3.4 million shares of its common stock and redeemed 0.6 million units of its Operating Partnership, or OP units, bringing total repurchases and redemptions to 34.9 million shares of common stock and 1.6 million OP units for a combined total of $3.1 billion under the previously announced $3.5 billion share repurchase program.

In June, the Company closed on the previously announced sale of 635-641 Sixth Avenue for a gross sale price of $325.0 million, equating to more than $1,200 per square foot. The property is comprised of two adjoined buildings totaling eight stories and 267,000 square feet, occupying the full western block-front on Sixth Avenue from 19th Street to 20th Street in Midtown South. The transaction generated net cash proceeds to the Company of $313.2 million.

In June, the Company closed on the previously announced sale of its 20.0% interest in 605 West 42nd Street, also known as "Sky," for a gross asset valuation of $858.1 million. The 71-story, 948,233 square foot luxury multifamily tower includes 295 affordable units of dedicated affordable housing and 68,000 square feet of retail space. The transaction generated net cash proceeds to the Company of $54.5 million.

In June, the Company closed on the acquisition of the fee interest in 461 Fifth Avenue for a gross purchase price of $28.0 million pursuant to a purchase option under the ground lease at the property, thereby consolidating a leasehold position into 100% unencumbered fee ownership. The Company acquired the leasehold interest in the property in 2003. The property comprises 200,000 square feet on the corner of Fifth Avenue and 40th Street in East Midtown.

Debt and Preferred Equity Investment Activity

The carrying value of the Company’s debt and preferred equity ("DPE") portfolio was $1.11 billion at June 30, 2021. The portfolio is comprised of $1.07 billion of investments, which are classified in the debt and preferred equity line item of the balance sheet, at a weighted average current yield of 7.3%, or 9.0% excluding the effect of $238.7 million of investments that are on non-accrual, and mortgage investments aggregating $0.04 billion at a weighted average current yield of 3.6% that are included in other balance sheet line items for accounting purposes.

During the second quarter, the Company acquired a subordinate debt investment for $60.4 million, all of which was retained, at a yield of 14.0%.

During the second quarter, the Company generated $53.8 million of cash through the sale, at par, of one DPE position.

Financing Activity

In June, the Company, along with its joint venture partners, closed on the previously announced $3.0 billion 10-year fixed-rate refinancing of One Vanderbilt Avenue. The loan was securitized in a single asset, single borrower (SASB) agented CMBS transaction. The new financing carries a stated coupon of 2.855 percent, equivalent to a rate of 2.947 percent inclusive of hedging costs, and replaces the previous $1.75 billion construction facility that had an outstanding balance of approximately $1.54 billion at the time of repayment.

Dividends

In the second quarter of 2021, the Company declared:

•Three monthly dividends on its outstanding common stock of $0.3033 per share which were paid on May 17, June 15, and July 15, 2021, equating to an annualized dividend of $3.64 per share of common stock; and

•Quarterly dividend on its outstanding 6.50% Series I Cumulative Redeemable Preferred Stock of $0.40625 per share for the period April 15, 2021 through and including July 14, 2021, which was paid on July 15, 2021 and is the equivalent of an annualized dividend of $1.625 per share.

Conference Call and Audio Webcast

The Company's executive management team, led by Marc Holliday, Chairman and Chief Executive Officer, will host a conference call and audio webcast on Thursday, July 22, 2021, at 2:00 pm ET to discuss the financial results.

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

The live conference call will be webcast in listen-only mode in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under “Presentations & Webcasts.” The conference may also be accessed by dialing toll-free (877) 312-8765 or international (419) 386-0002, and using conference ID 5177356.

A replay of the call will be available for 7 days after the call by dialing (855) 859-2056 using conference ID 1787091. A webcast replay will also be available in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under “Presentations & Webcasts.”

Company Profile

SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2021, SL Green held interests in 77 buildings totaling 35.3 million square feet. This included ownership interests in 27.1 million square feet of Manhattan buildings and 7.4 million square feet securing debt and preferred equity investments.

To be added to the Company's distribution list or to obtain the latest news releases and other Company information, please visit our website at www.slgreen.com or contact Investor Relations at investor.relations@slgreen.com.

Disclaimers

Non-GAAP Financial Measures

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

Forward-looking Statements

This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.

Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties related to the on-going COVID-19 pandemic and the duration and impact it will have on our business and the industry as a whole and the other risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.

SL GREEN REALTY CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited and in thousands, except per share data)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
Revenues:	2021		2020		2021		2020
Rental revenue, net	$	163,916	$	174,141	$	326,726	$	369,604
Escalation and reimbursement	20,695		21,745		45,974		48,913
Investment income	20,107		39,943		39,380		78,476
Other income	13,389		17,870		32,129		71,009
Total revenues	218,107		253,699		444,209		568,002
Expenses:
Operating expenses, including related party expenses of $3,039 and $5,264 in 2021 and $2,739 and $6,488 in 2020	43,883		40,897		86,167		94,763
Real estate taxes	43,768		41,661		89,179		88,283
Operating lease rent	6,707		7,831		13,446		15,198
Interest expense, net of interest income	18,960		30,070		42,348		67,564
Amortization of deferred financing costs	3,386		2,661		7,160		5,161
Depreciation and amortization	57,261		95,941		120,257		164,220
Loan loss and other investment reserves, net of recoveries	—		6,813		—		18,061
Transaction related costs	3		373		25		438
Marketing, general and administrative	22,064		23,510		44,949		43,080
Total expenses	196,032		249,757		403,531		496,768
Equity in net loss from unconsolidated joint ventures	(12,970)		(2,199)		(15,834)		(15,013)
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	8,471		—		(4,158)		—
Purchase price and other fair value adjustment	(1,947)		—		717		—
Gain on sale of real estate, net	98,960		64,884		97,572		137,520
Depreciable real estate reserves	2,545		—		(5,696)		—
Net income	117,134		66,627		113,279		193,741
Net income attributable to noncontrolling interests in the Operating Partnership	(6,282)		(3,070)		(5,806)		(9,272)
Net loss (income) attributable to noncontrolling interests in other partnerships	40		(1,023)		1,539		(730)
Preferred unit distributions	(1,823)		(2,353)		(3,669)		(5,019)
Net income attributable to SL Green	109,069		60,181		105,343		178,720
Perpetual preferred stock dividends	(3,737)		(3,737)		(7,475)		(7,475)
Net income attributable to SL Green common stockholders	$	105,332	$	56,444	$	97,868	$	171,245
Earnings Per Share (EPS)
Net income per share (Basic) (1)	$	1.52	$	0.76	$	1.41	$	2.28
Net income per share (Diluted) (1)	$	1.51	$	0.76	$	1.40	$	2.28
Funds From Operations (FFO)
FFO per share (Basic) (1)	$	1.60	$	1.75	$	3.35	$	3.90
FFO per share (Diluted) (1)	$	1.60	$	1.74	$	3.33	$	3.89
FFO per share (Pro forma) (2)	$	1.60	$	1.70	$	3.33	$	3.79
Basic ownership interest
Weighted average REIT common shares for net income per share	68,980		73,538		68,996		74,598
Weighted average partnership units held by noncontrolling interests	4,093		4,120		4,121		4,170
Basic weighted average shares and units outstanding (1)	73,073		77,658		73,117		78,768
Diluted ownership interest
Weighted average REIT common share and common share equivalents	69,634		73,946		69,778		75,038
Weighted average partnership units held by noncontrolling interests	4,093		4,120		4,121		4,170
Diluted weighted average shares and units outstanding (1)	73,727		78,066		73,899		79,208
Pro forma adjustment (2)	—		2,153		—		2,184
Pro forma diluted weighted average shares and units outstanding (2)	73,727		80,219		73,899		81,392

(1) During the first quarter of 2021, the Company completed a reverse stock split to mitigate the dilutive impact of stock issued for a special dividend paid primarily in stock. The 2020 basic and diluted weighted average common shares outstanding have been retroactively adjusted to reflect the reverse stock split.

(2) During the first quarter of 2021, the Company completed a reverse stock split to mitigate the dilutive impact of stock issued for a special dividend paid primarily in stock. GAAP requires the weighted average common shares outstanding to be adjusted retroactively for all periods presented to reflect the reverse stock split. To facilitate comparison between the periods presented, the Company calculated Pro forma diluted weighted average shares and units outstanding for the 2020 periods presented, which adjusts the share counts back to the originally-reported numbers.

SL GREEN REALTY CORP.

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share data)

	June 30,		December 31,
	2021		2020
Assets	(Unaudited)
Commercial real estate properties, at cost:
Land and land interests	$	1,403,399	$	1,315,832
Building and improvements	4,088,659		4,168,193
Building leasehold and improvements	1,642,595		1,448,134
Right of use asset - financing leases	27,445		55,711
Right of use asset - operating leases	502,316		367,209
	7,664,414		7,355,079
Less: accumulated depreciation	(2,008,438)		(1,956,077)
	5,655,976		5,399,002
Assets held for sale	—		—
Cash and cash equivalents	218,337		266,059
Restricted cash	98,164		106,736
Investment in marketable securities	32,339		28,570
Tenant and other receivables	40,147		44,507
Related party receivables	36,430		34,657
Deferred rents receivable	304,140		302,791
Debt and preferred equity investments, net of discounts and deferred origination fees of $7,922 and $11,232 and allowances of $13,213 and $13,213 in 2021 and 2020, respectively	1,072,711		1,076,542
Investments in unconsolidated joint ventures	3,209,151		3,823,322
Deferred costs, net	161,962		177,168
Other assets	336,807		448,213
Total assets	$	11,166,164	$	11,707,567
Liabilities
Mortgages and other loans payable	$	1,874,592	$	2,001,361
Revolving credit facility	—		110,000
Unsecured term loan	1,500,000		1,500,000
Unsecured notes	1,251,404		1,251,888
Deferred financing costs, net	(26,820)		(34,521)
Total debt, net of deferred financing costs	4,599,176		4,828,728
Accrued interest payable	13,771		14,825
Accounts payable and accrued expenses	126,929		151,309
Deferred revenue	114,536		118,572
Lease liability - financing leases	124,808		152,521
Lease liability - operating leases	443,313		339,458
Dividend and distributions payable	24,407		149,294
Security deposits	54,797		53,836
Liabilities related to assets held for sale	—		—
Junior subordinate deferrable interest debentures held by trusts that issued trust preferred securities	100,000		100,000
Other liabilities	196,966		302,798
Total liabilities	5,798,703		6,211,341
Commitments and contingencies	—		—
Noncontrolling interest in the Operating Partnership	355,201		358,262
Preferred units	198,503		202,169
Equity
Stockholders’ equity:
Series I Preferred Stock, $0.01 par value, $25.00 liquidation preference, 9,200 issued and outstanding at both June 30, 2021 and December 31, 2020	221,932		221,932
Common stock, $0.01 par value 160,000 shares authorized, 68,906 and 69,534 issued and outstanding at June 30, 2021 and December 31, 2020, respectively (including 1,026 held in Treasury at both June 30, 2021 and December 31, 2020)	690		716
Additional paid-in capital	3,823,290		3,862,949
Treasury stock at cost	(124,049)		(124,049)
Accumulated other comprehensive loss	(66,863)		(67,247)
Retained earnings	934,132		1,015,462
Total SL Green Realty Corp. stockholders’ equity	4,789,132		4,909,763
Noncontrolling interests in other partnerships	24,625		26,032
Total equity	4,813,757		4,935,795
Total liabilities and equity	$	11,166,164	$	11,707,567

SL GREEN REALTY CORP.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(unaudited and in thousands, except per share data)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
Funds From Operations (FFO) Reconciliation:	2021		2020		2021		2020
Net income attributable to SL Green common stockholders	$	105,332	$	56,444	$	97,868	$	171,245
Add:
Depreciation and amortization	57,261		95,941		120,257		164,220
Joint venture depreciation and noncontrolling interest adjustments	59,485		45,107		115,187		101,425
Net income attributable to noncontrolling interests	6,242		4,093		4,267		10,002
Less:
Gain on sale of real estate, net	98,960		64,884		97,572		137,520
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	8,471		—		(4,158)		—
Purchase price and other fair value adjustments	—		—		2,664		—
Depreciable real estate reserves	2,545		—		(5,696)		—
Depreciation on non-rental real estate assets	672		609		1,199		1,259
FFO attributable to SL Green common stockholders and unit holders	$	117,672	$	136,092	$	245,998	$	308,113

	Three Months Ended				Six Months Ended
	June 30,				June 30,
Operating income and Same-store NOI Reconciliation:	2021		2020		2021		2020
Net income	$	117,134	$	66,627	$	113,279	$	193,741
Equity in net (gain) loss on sale of interest in unconsolidated joint venture/real estate	(8,471)		—		4,158		—
Purchase price and other fair value adjustments	1,947		—		(717)		—
Gain on sale of real estate, net	(98,960)		(64,884)		(97,572)		(137,520)
Depreciable real estate reserves	(2,545)		—		5,696		—
Depreciation and amortization	57,261		95,941		120,257		164,220
Interest expense, net of interest income	18,960		30,070		42,348		67,564
Amortization of deferred financing costs	3,386		2,661		7,160		5,161
Operating income	88,712		130,415		194,609		293,166
Equity in net loss from unconsolidated joint ventures	12,970		2,199		15,834		15,013
Marketing, general and administrative expense	22,064		23,510		44,949		43,080
Transaction related costs, net	3		373		25		438
Investment income	(20,107)		(39,943)		(39,380)		(78,476)
Loan loss and other investment reserves, net of recoveries	—		6,813		—		18,061
Non-building revenue	(8,027)		(192)		(12,488)		(3,982)
Net operating income (NOI)	95,615		123,175		203,549		287,300
Equity in net loss from unconsolidated joint ventures	(12,970)		(2,199)		(15,834)		(15,013)
SLG share of unconsolidated JV depreciation and amortization	58,537		46,217		113,812		92,091
SLG share of unconsolidated JV interest expense, net of interest income	34,274		32,714		67,701		68,491
SLG share of unconsolidated JV amortization of deferred financing costs	3,545		1,693		6,430		3,380
SLG share of unconsolidated JV loss on early extinguishment of debt	941		—		941		—
SLG share of unconsolidated JV investment income	(314)		(310)		(610)		(617)
SLG share of unconsolidated JV non-building revenue	(599)		(2,425)		(2,186)		(4,025)
NOI including SLG share of unconsolidated JVs	179,029		198,865		373,803		431,607
NOI from other properties/affiliates	(16,937)		(27,921)		(51,740)		(100,334)
Same-store NOI	162,092		170,944		322,063		331,273
Ground lease straight-line adjustment	244		245		489		533
Joint Venture ground lease straight-line adjustment	233		252		465		594
Straight-line and free rent	(7,884)		100		(11,264)		(2,800)
Amortization of acquired above and below-market leases, net	(100)		(858)		(195)		(2,428)
Joint Venture straight-line and free rent	(2,166)		(4,271)		(9,515)		(10,030)
Joint Venture amortization of acquired above and below-market leases, net	(4,824)		(3,807)		(9,135)		(7,630)
Same-store cash NOI	$	147,595	$	162,605	$	292,908	$	309,512
Lease termination income	(1,095)		(10,570)		(1,100)		(10,590)
Joint Venture lease termination income	(247)		(172)		(254)		(179)
Same-store cash NOI excluding lease termination income	$	146,253	$	151,863	$	291,554	$	298,743

SL GREEN REALTY CORP.

NON-GAAP FINANCIAL MEASURES - DISCLOSURES

Funds from Operations (FFO)

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

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

Funds Available for Distribution (FAD)

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

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

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

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

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

Net Operating Income (NOI) and Cash NOI

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

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

Coverage Ratios

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

SLG-EARN

EX-99.2

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

As of June 30, 2021, the Company held interests in 77 buildings totaling 35.3 million square feet. This included ownership interests in 27.1 million square feet in Manhattan buildings and 7.4 million square feet securing debt and preferred equity investments.

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

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

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

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

Ratings

Ratings are not recommendations to buy, sell or hold the Company’s securities.

Forward-looking Statements

This supplemental reporting package includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.

Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties related to the on-going COVID-19 pandemic and the duration and impact it will have on our business and the industry as a whole and the other risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.

The following discussion related to the consolidated financial statements of the Company should be read in conjunction with the financial statements for the quarter ended June 30, 2021 that will be included on Form 10-Q to be filed on or before August 9, 2021.

Supplemental Information 2 Second Quarter 2021

TABLE OF CONTENTS

Definitions	4
Highlights	6	-	10
Comparative Balance Sheets	11
Comparative Statements of Operations	13
Comparative Computation of FFO and FAD	14
Consolidated Statement of Equity	15
Joint Venture Statements	16	-	18
Selected Financial Data	19	-	22
Debt Summary Schedule	23	-	24
Lease Liability Schedule	25
Debt and Preferred Equity Investments	26	-	28
Selected Property Data
Property Portfolio	29	-	33
Largest Tenants	34
Tenant Diversification	35
Leasing Activity	36	-	37
Lease Expirations	38	-	39
Summary of Real Estate Acquisition/Disposition Activity	40	-	44
Corporate Information	45
Non-GAAP Disclosures and Reconciliations	46
Analyst Coverage	49

Supplemental Information 3 Second Quarter 2021

DEFINITIONS

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

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

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

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

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

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

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

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

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

Junior Mortgage Participations - Subordinate interests in first mortgages.

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

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

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

Recurring capital expenditures - Building improvements and leasing costs required to maintain current revenues. Recurring capital expenditures do not include building improvements that were taken into consideration when underwriting the acquisition of a property or which are incurred to bring a property up to “operating standards.”

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

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

Same-Store Properties (Same-Store) -Properties owned in the same manner during both the current and prior year, excluding development properties that are not stabilized for both the current and prior year. Changes to Same-Store properties in 2021 are as follows:

Added to Same-Store in 2021:	Removed from Same-Store in 2021:
115 Spring Street	750 Third Avenue (redevelopment)
	760 Madison Avenue (redevelopment)
	55 West 46th Street "Tower 46" (disposed)
	605 West 42nd Street "Sky" (disposed)
	635-641 Sixth Avenue (disposed)

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

Supplemental Information 4 Second Quarter 2021

DEFINITIONS

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

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

Supplemental Information 5 Second Quarter 2021

SECOND QUARTER 2021 HIGHLIGHTS Unaudited

New York, NY, July 21, 2021 - SL Green Realty Corp. (the "Company") (NYSE: SLG) today reported net income attributable to common stockholders for the quarter ended June 30, 2021 of $105.3 million, or $1.51 per share, as compared to net income of $56.4 million, or $0.76 per share, for the same quarter in 2020. Net income attributable to common stockholders for the second quarter of 2021 includes net gains totaling $108.3 million, or $1.47 per share, recognized from the sales of 635-641 Sixth Avenue and our interests in 605 West 42nd Street, as compared to a net gain of $65.4 million, or $0.82 per share, in the second quarter of 2020 recognized from the sale of the retail condominium at 609 Fifth Avenue.

The Company also reported net income attributable to common stockholders for the six months ended June 30, 2021 of $97.9 million, or $1.40 per share, as compared to net income of $171.2 million, or $2.28 per share, for the same period in 2020. Net income attributable to common stockholders for the six months ended June 30, 2021 includes $94.1 million, or $1.27 per share, of net gains recognized from the sale of real estate interests and non-cash fair value adjustments. Net income for the six months ended June 30, 2020 included $137.5 million, or $1.69 per share, of net gains recognized from the sale of real estate interests and non-cash fair value adjustments.

The Company reported FFO for the quarter ended June 30, 2021 of $117.7 million, or $1.60 per share, as compared to FFO for the same period in 2020 of $136.1 million, or $1.70 per share. FFO for the second quarter of the prior year included $12.4 million, or $0.15 per share, of lease termination income as compared to just $1.1 million, or $0.02 per share, of lease termination income included in the second quarter of 2021.

The Company also reported FFO for the six months ended June 30, 2021 of $246.0 million, or $3.33 per share, as compared to FFO of $308.1 million, or $3.79 per share, for the same period in 2020. FFO for the six months ended June 30, 2020 included $25.1 million, or $0.31 per share, of incremental income from Credit Suisse at 1 Madison Avenue representing rent through December 31, 2020.

All per share amounts are presented on a diluted basis.

Operating and Leasing Activity

For the quarter ended June 30, 2021, the Company reported consolidated revenues and operating income of $218.1 million and $88.7 million, respectively, compared to $253.7 million and $130.4 million, respectively, for the same period in 2020.

Same-store cash NOI, including our share of same-store cash NOI from unconsolidated joint ventures, decreased by 9.2% for the second quarter of 2021, and decreased 3.7% excluding lease termination income, as compared to the same period in 2020, an interim level that is consistent with our full-year 2021 goals and objectives.

Same-store cash NOI, including our share of same-store cash NOI from unconsolidated joint ventures, decreased by 5.4% for the six months June 30, 2021, and decreased 2.4% excluding lease termination income, as compared to the same period in 2020, an interim level that is consistent with our full-year 2021 goals and objectives.

During the second quarter of 2021, the Company signed 42 office leases in its Manhattan office portfolio totaling 557,703 square feet. The average lease term on the Manhattan office

leases signed in the second quarter of 2021 was 4.7 years and average tenant concessions were 2.4 months of free rent with a tenant improvement allowance of $17.16 per rentable square foot, excluding leases signed at One Vanderbilt Avenue. Twenty-five leases comprising 265,798 square feet, representing office leases on space that had been occupied within the prior twelve months, are considered replacement leases on which mark-to-market is calculated. Those replacement leases had average starting rents of $84.12 per rentable square foot, representing a 1.1% decrease over the previous fully escalated rents on the same office spaces.

During the first six months of 2021, the Company signed 63 office leases in its Manhattan office portfolio totaling 910,455 square feet. The average lease term on the Manhattan office leases signed in the first six months of 2021 was 5.3 years and average tenant concessions were 4.7 months of free rent with a tenant improvement allowance of $39.76 per rentable square foot, excluding leases signed at One Vanderbilt Avenue. Thirty-eight leases comprising 453,124 square feet, representing office leases on space that had been occupied within the prior twelve months, are considered replacement leases on which mark-to-market is calculated. Those replacement leases had average starting rents of $72.98 per rentable square foot, representing a 1.7% decrease over the previous fully escalated rents on the same office spaces.

Occupancy in the Company's Manhattan same-store office portfolio was 93.6% as of June 30, 2021, inclusive of 53,962 square feet of leases signed but not yet commenced, as compared to 94.1% at the end of the previous quarter.

Significant leases that were signed in the second quarter included:

•Total of 227,670 square feet of leases signed at One Vanderbilt Avenue:

•New lease for 97,652 square feet, for 15.0 years;

•New lease with MSD Partners for 35,567 square feet, for 15.0 years;

•New lease with Mamoura Holdings (US), LLC for 28,448 square feet, for 10.0 years;

•Expansion lease with TD Securities for 24,020 square feet, for 20.0 years, which increases TD Securities' footprint in the building to 142,892 square feet;

•New lease with Kyndrel for 22,531 square feet, for 9.0 years;

•New lease with Nearwater Management LLC for 17,289 square feet, for 7.0 years; and

•Expansion lease with InTandem Capital Partners LLC and Sagewind Capital LLC for 2,163 square feet, for 7.0 years, which increases their joint footprint in the building to 12,328 square feet;

•Early renewal with Wells Fargo Bank N.A. for 103,803 square feet at 100 Park Avenue, for 2.1 years;

•New lease with GQG Partners, LLC for 8,936 square feet at 280 Park Avenue, for 15.0 years; and

•New retail lease with Vashi for 11,777 square feet at 110 Greene Street, for 15.0 years.

Supplemental Information 6 Second Quarter 2021

SECOND QUARTER 2021 HIGHLIGHTS Unaudited

Investment Activity

To date in 2021, the Company has repurchased 3.4 million shares of its common stock and redeemed 0.6 million units of its Operating Partnership, or OP units, bringing total repurchases and redemptions to 34.9 million shares of common stock and 1.6 million OP units for a combined total of $3.1 billion under the previously announced $3.5 billion share repurchase program.

In June, the Company closed on the previously announced sale of 635-641 Sixth Avenue for a gross sale price of $325.0 million, equating to more than $1,200 per square foot. The property is comprised of two adjoined buildings totaling eight stories and 267,000 square feet, occupying the full western block-front on Sixth Avenue from 19th Street to 20th Street in Midtown South. The transaction generated net cash proceeds to the Company of $313.2 million.

In June, the Company closed on the previously announced sale of its 20.0% interest in 605 West 42nd Street, also known as "Sky," for a gross asset valuation of $858.1 million. The 71-story, 948,233 square foot luxury multifamily tower includes 295 affordable units of dedicated affordable housing and 68,000 square feet of retail space. The transaction generated net cash proceeds to the Company of $54.5 million.

In June, the Company closed on the acquisition of the fee interest in 461 Fifth Avenue for a gross purchase price of $28.0 million pursuant to a purchase option under the ground lease at the property, thereby consolidating a leasehold position into 100% unencumbered fee ownership. The Company acquired the leasehold interest in the property in 2003. The property comprises 200,000 square feet on the corner of Fifth Avenue and 40th Street in East Midtown.

Debt and Preferred Equity Investment Activity

The carrying value of the Company’s debt and preferred equity ("DPE") portfolio was $1.11 billion at June 30, 2021. The portfolio is comprised of $1.07 billion of investments, which are classified in the debt and preferred equity line item of the balance sheet, at a weighted average current yield of 7.3%, or 9.0% excluding the effect of $238.7 million of investments that are on non-accrual, and mortgage investments aggregating $0.04 billion at a weighted average current yield of 3.6% that are included in other balance sheet line items for accounting purposes.

During the second quarter, the Company acquired a subordinate debt investment for $60.4 million, all of which was retained, at a yield of 14.0%.

During the second quarter, the Company generated $53.8 million of cash through the sale, at par, of one DPE position.

Financing Activity

In June, the Company, along with its joint venture partners, closed on the previously announced $3.0 billion 10-year fixed-rate refinancing of One Vanderbilt Avenue. The loan was securitized in a single asset, single borrower (SASB) agented CMBS transaction. The new financing carries a stated coupon of 2.855 percent, equivalent to a rate of 2.947 percent inclusive of hedging costs, and replaces the previous $1.75 billion construction facility that had an outstanding balance of approximately $1.54 billion at the time of repayment.

Dividends

In the second quarter of 2021, the Company declared:

•Three monthly dividends on its outstanding common stock of $0.3033 per share which were paid on May 17, June 15, and July 15, 2021, equating to an annualized dividend of $3.64 per share of common stock; and

•Quarterly dividend on its outstanding 6.50% Series I Cumulative Redeemable Preferred Stock of $0.40625 per share for the period April 15, 2021 through and including July 14, 2021, which was paid on July 15, 2021 and is the equivalent of an annualized dividend of $1.625 per share.

Conference Call and Audio Webcast

The Company's executive management team, led by Marc Holliday, Chairman and Chief Executive Officer, will host a conference call and audio webcast on Thursday, July 22, 2021, at 2:00 pm ET to discuss the financial results.

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

The live conference call will be webcast in listen-only mode in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under “Presentations & Webcasts.” The conference may also be accessed by dialing toll-free (877) 312-8765 or international (419) 386-0002, and using conference ID 5177356.

A replay of the call will be available for 7 days after the call by dialing (855) 859-2056 using conference ID 1787091. A webcast replay will also be available in the Investors section of the SL Green Realty Corp. website at www.slgreen.com under “Presentations & Webcasts.”

Supplemental Information 7 Second Quarter 2021

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

	As of or for the three months ended
	6/30/2021		3/31/2021		12/31/2020		9/30/2020		6/30/2020
Earnings Per Share
Net income (loss) available to common stockholders (EPS) - diluted (1)	$	1.51	$	(0.11)	$	2.41	$	0.19	$	0.76
Funds from operations (FFO) available to common stockholders - diluted (1)	$	1.60	$	1.73	$	1.59	$	1.80	$	1.74
Funds from operations (FFO) available to common stockholders - pro forma (2)	$	1.60	$	1.73	$	1.56	$	1.75	$	1.70
Common Share Price & Dividends
Closing price at the end of the period (1)	$	80.00	$	69.99	$	61.32	$	47.72	$	50.73
Closing high price during period (1)	$	85.17	$	77.76	$	65.76	$	52.74	$	64.96
Closing low price during period (1)	$	69.52	$	58.13	$	42.87	$	45.11	$	37.90
Annual dividend per common share	$	3.64	$	3.64	$	3.64	$	3.54	$	3.54
FFO payout ratio (trailing 12 months)	54.5%		53.3%		50.3%		48.6%		48.2%
Funds available for distribution (FAD) payout ratio (trailing 12 months)	63.4%		59.5%		62.0%		59.3%		67.0%
Common Shares & Units
Common shares outstanding (1)	67,880		69,354		68,508		70,969		71,586
Units outstanding	3,808		4,156		3,939		4,027		4,045
Total common shares and units outstanding	71,688		73,510		72,447		74,996		75,631
Weighted average common shares and units outstanding - basic (1)	73,073		73,158		74,072		74,972		77,658
Weighted average common shares and units outstanding - diluted (1)	73,727		74,070		75,163		75,414		78,066
Weighted average common shares and units outstanding - pro forma (2)	73,727		74,070		76,575		77,491		80,219
Market Capitalization
Market value of common equity	$	5,735,040	$	5,144,965	$	4,442,450	$	3,578,809	$	3,836,761
Liquidation value of preferred equity/units	428,503		428,503		432,169		432,169		455,448
Consolidated debt	4,725,996		5,349,310		4,963,249		5,466,849		6,189,658
Consolidated market capitalization	$	10,889,539	$	10,922,778	$	9,837,868	$	9,477,827	$	10,481,867
SLG share of unconsolidated JV debt	5,558,666		4,422,585		4,672,371		4,588,930		4,230,047
Market capitalization including SLG share of unconsolidated JVs	$	16,448,205	$	15,345,363	$	14,510,239	$	14,066,757	$	14,711,914
Consolidated debt service coverage (trailing 12 months)	3.60x		3.61x		3.54x		3.52x		3.40x
Consolidated fixed charge coverage (trailing 12 months)	2.83x		2.85x		2.82x		2.83x		2.75x
Debt service coverage, including SLG share of unconsolidated JVs (trailing 12 months)	2.37x		2.41x		2.41x		2.44x		2.41x
Fixed charge coverage, including SLG share of unconsolidated JVs (trailing 12 months)	2.01x		2.04x		2.06x		2.08x		2.06x
(1) During the first quarter of 2021, the Company completed a reverse stock split to mitigate the dilutive impact of stock issued for a special dividend paid primarily in stock. The share-related data presented here for the periods ending 12/31/20, 9/30/20 and 6/30/20 have been retroactively adjusted to reflect the reverse stock split.
(2) During the first quarter of 2021, the Company completed a reverse stock split to mitigate the dilutive impact of stock issued for a special dividend paid primarily in stock. GAAP requires the weighted average common shares outstanding to be adjusted retroactively for all periods presented to reflect the reverse stock split. To facilitate comparison between the periods presented, the Company calculated Pro forma diluted weighted average shares and units outstanding for the 2020 periods presented, which adjusts the share counts back to the originally-reported numbers.

Supplemental Information 8 Second Quarter 2021

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

	As of or for the three months ended
	6/30/2021			3/31/2021		12/31/2020		9/30/2020		6/30/2020
Selected Balance Sheet Data
Real estate assets before depreciation	$	7,664,414		$	7,830,574	$	7,355,079	$	9,021,490	$	9,046,938
Investments in unconsolidated joint ventures	$	3,209,151		$	3,698,701	$	3,823,322	$	2,946,673	$	2,952,681
Debt and preferred equity investments	$	1,072,711		$	1,097,202	$	1,076,542	$	1,153,363	$	1,221,936
Cash and cash equivalents	$	218,337		$	304,999	$	266,059	$	221,404	$	1,015,348
Investment in marketable securities	$	32,339		$	23,784	$	28,570	$	27,734	$	27,345
Total assets	$	11,166,164		$	12,044,045	$	11,707,567	$	12,324,039	$	13,071,564
Fixed rate & hedged debt	$	3,930,094		$	3,932,789	$	3,135,572	$	3,338,268	$	3,379,743
Variable rate debt	795,902		(1)	1,416,521		1,827,677		2,128,581		2,809,915
Total consolidated debt	$	4,725,996		$	5,349,310	$	4,963,249	$	5,466,849	$	6,189,658
Deferred financing costs, net of amortization	(26,820)			(30,558)		(34,521)		(47,677)		(48,344)
Total consolidated debt, net	$	4,699,176		$	5,318,752	$	4,928,728	$	5,419,172	$	6,141,314
Total liabilities	$	5,798,703		$	6,535,798	$	6,211,341	$	6,634,385	$	7,281,652
Fixed rate & hedged debt, including SLG share of unconsolidated JV debt	$	8,287,100		$	6,155,058	$	5,632,531	$	5,837,841	$	5,609,865
Variable rate debt, including SLG share of unconsolidated JV debt	1,997,562		(1)	3,616,837		4,003,089		4,217,938		4,809,840
Total debt, including SLG share of unconsolidated JV debt	$	10,284,662		$	9,771,895	$	9,635,620	$	10,055,779	$	10,419,705
Selected Operating Data
Property operating revenues	$	184,611		$	188,089	$	190,391	$	195,515	$	195,886
Property operating expenses	(94,358)			(94,434)		(93,909)		(96,405)		(90,389)
Property NOI	$	90,253		$	93,655	$	96,482	$	99,110	$	105,497
SLG share of unconsolidated JV Property NOI	85,492			86,483		78,378		82,384		76,705
Property NOI, including SLG share of unconsolidated JV Property NOI	$	175,745		$	180,138	$	174,860	$	181,494	$	182,202
Investment income	20,107			19,273		18,699		22,988		39,943
Other income	13,389			18,740		25,808		31,341		17,870
Marketing general & administrative expenses	(22,064)			(22,885)		(25,144)		(23,602)		(23,510)
SLG share of investment income and other income from unconsolidated JVs	1,163			2,642		2,041		4,814		2,939
Income taxes	795			708		(859)		—		900
Transaction costs, including SLG share of unconsolidated JVs	(3)			(22)		(20)		(45)		(373)
Loan loss and other investment reserves, net of recoveries	—			—		(8,280)		(8,957)		(6,813)
EBITDAre	$	189,132		$	198,594	$	187,105	$	208,033	$	213,158
(1) Does not reflect $308.4 million of floating rate debt and preferred equity investments that provide a hedge against floating rate debt.

Supplemental Information 9 Second Quarter 2021

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

	As of or for the three months ended
	6/30/2021		3/31/2021		12/31/2020		9/30/2020		6/30/2020
Selected Operating Data
Property operating revenues	$	178,877	$	183,701	$	184,227	$	189,263	$	188,134
Property operating expenses	84,307		87,056		87,966		88,115		79,560
Property NOI	$	94,570	$	96,645	$	96,261	$	101,148	$	108,574
Other income - consolidated	$	2,700	$	11,748	$	2,575	$	20,975	$	12,448
SLG share of property NOI from unconsolidated JVs	$	85,491	$	86,483	$	78,379	$	82,384	$	76,704
Office Portfolio Statistics (Manhattan Operating Properties )
Consolidated office buildings in service	16		18		18		18		18
Unconsolidated office buildings in service	9		9		11		11		10
	25		27		29		29		28
Consolidated office buildings in service - square footage	10,259,345		10,526,345		10,681,045		10,647,191		10,647,191
Unconsolidated office buildings in service - square footage	10,869,183		10,869,183		11,841,483		11,841,483		11,216,183
	21,128,528		21,395,528		22,522,528		22,488,674		21,863,374
Same-Store office occupancy (consolidated + JVs)	93.4%		93.7%		93.6%		94.0%		93.8%
Same-Store office occupancy inclusive of leases signed not yet commenced	93.6%		94.1%		94.3%		95.2%		95.4%
Office Leasing Statistics (Manhattan Operating Properties)
New leases commenced	17		21		16		25		9
Renewal leases commenced	13		7		12		18		25
Total office leases commenced	30		28		28		43		34
Commenced office square footage filling vacancy	45,922		216,182		42,262		44,168		46,502
Commenced office square footage on previously occupied space (M-T-M leasing) (2)	199,341		292,625		473,133		305,811		269,823
Total office square footage commenced	245,263		508,807		515,395		349,979		316,325
Average starting cash rent psf - office leases commenced	$77.42		$56.64		$61.66		$67.54		$75.50
Previous escalated cash rent psf - office leases commenced (3)	$78.90		$60.33		$63.08		$67.29		$73.84
(Decrease) increase in new cash rent over previously escalated cash rent (2) (3)	(1.9)%		(6.1)%		(2.3)%		0.4%		2.2%
Average lease term	5.1		8.1		8.0		6.5		7.8
Tenant concession packages psf	$20.99		$70.04		$48.13		$38.49		$31.37
Free rent months	4.3		6.0		5.5		6.7		5.0
(1) Property data for in-service buildings only.
(2) Calculated on space that was occupied within the previous 12 months.
(3) Escalated cash rent includes base rent plus all additional amounts paid by the tenant in the form of real estate taxes, operating expenses, porters wage or a consumer price index (CPI) adjustment.

Supplemental Information 10 Second Quarter 2021

COMPARATIVE BALANCE SHEETS Unaudited (Dollars in Thousands)

	As of
	6/30/2021			3/31/2021		12/31/2020		9/30/2020		6/30/2020
Assets
Commercial real estate properties, at cost:
Land and land interests	$	1,403,399		$	1,445,199	$	1,315,832	$	1,639,118	$	1,625,483
Building and improvements	4,088,659			4,096,930		4,168,193		5,483,155		5,363,464
Building leasehold and improvements	1,642,595			1,730,418		1,448,134		1,442,251		1,443,855
Right of use asset - financing leases	27,445			55,711		55,711		75,711		176,152
Right of use asset - operating leases	502,316			502,316		367,209		381,255		381,255
	7,664,414			7,830,574		7,355,079		9,021,490		8,990,209
Less: accumulated depreciation	(2,008,438)			(2,004,945)		(1,956,077)		(2,260,247)		(2,186,157)
Net real estate	5,655,976			5,825,629		5,399,002		6,761,243		6,804,052
Other real estate investments:
Investment in unconsolidated joint ventures	3,209,151			3,698,701		3,823,322		2,946,673		2,952,681
Debt and preferred equity investments, net	1,072,711		(1)	1,097,202		1,076,542		1,153,363		1,221,936
Assets held for sale, net	—			—		—		—		49,687
Cash and cash equivalents	218,337			304,999		266,059		221,404		1,015,348
Restricted cash	98,164			96,608		106,736		83,045		85,935
Investment in marketable securities	32,339			23,784		28,570		27,734		27,345
Tenant and other receivables	40,147			42,505		44,507		72,806		90,305
Related party receivables	36,430			34,310		34,657		31,936		16,984
Deferred rents receivable	304,140			304,420		302,791		304,673		302,729
Deferred costs, net	161,962			170,252		177,168		206,289		217,812
Other assets	336,807			445,635		448,213		514,873		286,750
Total Assets	$	11,166,164		$	12,044,045	$	11,707,567	$	12,324,039	$	13,071,564
(1) Excludes debt and preferred equity investments totaling $35.0 million with a weighted average current yield of 3.59% that are included in other balance sheet line items.

Supplemental Information 11 Second Quarter 2021

COMPARATIVE BALANCE SHEETS Unaudited (Dollars in Thousands)

	As of
	6/30/2021		3/31/2021		12/31/2020		9/30/2020		6/30/2020
Liabilities
Mortgages and other loans payable	$	1,874,592	$	1,867,663	$	2,001,361	$	2,424,721	$	2,348,483
Unsecured term loans	1,500,000		1,500,000		1,500,000		1,500,000		1,500,000
Unsecured notes	1,251,404		1,251,647		1,251,888		1,252,128		1,252,366
Revolving credit facility	—		630,000		110,000		190,000		950,000
Deferred financing costs	(26,820)		(30,558)		(34,521)		(47,677)		(48,344)
Total debt, net of deferred financing costs	4,599,176		5,218,752		4,828,728		5,319,172		6,002,505
Accrued interest	13,771		22,796		14,825		23,438		14,903
Accounts payable and accrued expenses	126,929		120,015		151,309		152,983		165,565
Deferred revenue	114,536		119,215		118,572		117,615		99,655
Lease liability - financing leases	124,808		152,622		152,521		174,983		174,732
Lease liability - operating leases	443,313		455,385		339,458		358,419		361,221
Dividends and distributions payable	24,407		24,924		149,294		25,486		25,611
Security deposits	54,797		54,181		53,836		56,212		58,486
Liabilities related to assets held for sale	—		—		—		—		38,272
Junior subordinated deferrable interest debentures	100,000		100,000		100,000		100,000		100,000
Other liabilities	196,966		267,908		302,798		306,077		240,702
Total liabilities	5,798,703		6,535,798		6,211,341		6,634,385		7,281,652
Noncontrolling interest in operating partnership
(3,808 units outstanding) at 6/30/2021	355,201		374,124		358,262		353,480		358,702
Preferred units	198,503		198,503		202,169		202,169		225,448
Equity
Stockholders' Equity:
Series I Perpetual Preferred Shares	221,932		221,932		221,932		221,932		221,932
Common stock, $0.01 par value, 160,000 shares authorized, 68,906
issued and outstanding at 6/30/2021, including 1,026 shares held in treasury	690		705		716		741		748
Additional paid–in capital	3,823,290		3,913,258		3,862,949		3,998,516		4,021,891
Treasury stock	(124,049)		(124,049)		(124,049)		(124,049)		(124,049)
Accumulated other comprehensive loss	(66,863)		(18,897)		(67,247)		(76,200)		(82,371)
Retained earnings	934,132		918,077		1,015,462		1,035,172		1,081,821
Total SL Green Realty Corp. stockholders' equity	4,789,132		4,911,026		4,909,763		5,056,112		5,119,972
Noncontrolling interest in other partnerships	24,625		24,594		26,032		77,893		85,790
Total equity	4,813,757		4,935,620		4,935,795		5,134,005		5,205,762
Total Liabilities and Equity	$	11,166,164	$	12,044,045	$	11,707,567	$	12,324,039	$	13,071,564

Supplemental Information 12 Second Quarter 2021

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

	Three Months Ended				Three Months Ended			Six Months Ended
	June 30,		June 30,			March 31,		June 30,		June 30,
	2021		2020			2021		2021		2020
Revenues
Rental revenue, net	$	163,916	$	174,141		$	162,810	$	326,726	$	369,604
Escalation and reimbursement revenues	20,695		21,745			25,279		45,974		48,913
Investment income	20,107		39,943			19,273		39,380		78,476
Other income	13,389		17,870			18,740		32,129		71,009
Total Revenues, net	218,107		253,699			226,102		444,209		568,002
Equity in net loss from unconsolidated joint ventures	(12,970)		(2,199)			(2,864)		(15,834)		(15,013)
Expenses
Operating expenses	43,883		40,897			42,284		86,167		94,763
Operating lease rent	6,707		7,831			6,739		13,446		15,198
Real estate taxes	43,768		41,661			45,411		89,179		88,283
Loan loss and other investment reserves, net of recoveries	—		6,813			—		—		18,061
Transaction related costs	3		373			22		25		438
Marketing, general and administrative	22,064		23,510			22,885		44,949		43,080
Total Operating Expenses	116,425		121,085			117,341		233,766		259,823
Operating Income	88,712		130,415			105,897		194,609		293,166
Interest expense, net of interest income	18,960		30,070			23,388		42,348		67,564
Amortization of deferred financing costs	3,386		2,661			3,774		7,160		5,161
Depreciation and amortization	57,261		95,941			62,996		120,257		164,220
Income from Continuing Operations (1)	9,105		1,743			15,739		24,844		56,221
Gain (loss) on sale of real estate and discontinued operations	98,960		64,884			(1,388)		97,572		137,520
Equity in net gain (loss) on sale of joint venture interest / real estate	8,471		—			(12,629)		(4,158)		—
Purchase price and other fair value adjustments	(1,947)		—			2,664		717		—
Depreciable real estate reserves	2,545		—			(8,241)		(5,696)		—
Net Income (Loss)	117,134		66,627			(3,855)		113,279		193,741
Net (income) loss attributable to noncontrolling interests	(6,242)		(4,093)			1,975		(4,267)		(10,002)
Dividends on preferred units	(1,823)		(2,353)			(1,846)		(3,669)		(5,019)
Net Income (Loss) Attributable to SL Green Realty Corp	109,069		60,181			(3,726)		105,343		178,720
Dividends on perpetual preferred shares	(3,737)		(3,737)			(3,738)		(7,475)		(7,475)
Net Income (Loss) Attributable to Common Stockholders	$	105,332	$	56,444		$	(7,464)	$	97,868	$	171,245
Earnings per share - Net income (loss) per share (basic) (2)	$	1.52	$	0.76		$	(0.11)	$	1.41	$	2.28
Earnings per share - Net income (loss) per share (diluted) (2)	$	1.51	$	0.76		$	(0.11)	$	1.40	$	2.28
(1) Before gain on sale and equity in net gain (loss) and depreciable real estate reserves shown below.
(2) During the first quarter of 2021, the Company completed a reverse stock split to mitigate the dilutive impact of stock issued for a special dividend paid primarily in stock. 2020 basic and diluted Earnings per share have been retroactively adjusted to reflect the reverse stock split.

Supplemental Information 13 Second Quarter 2021

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

		Three Months Ended				Three Months Ended			Six Months Ended
		June 30,		June 30,			March 31,		June 30,		June 30,
		2021		2020			2021		2021		2020
Funds from Operations
Net Income (Loss) Attributable to Common Stockholders		$	105,332	$	56,444		$	(7,464)	$	97,868	$	171,245
	Depreciation and amortization	57,261		95,941			62,996		120,257		164,220
	Joint ventures depreciation and noncontrolling interests adjustments	59,485		45,107			55,702		115,187		101,425
	Net income (loss) attributable to noncontrolling interests	6,242		4,093			(1,975)		4,267		10,002
	(Gain) loss on sale of real estate and discontinued operations	(98,960)		(64,884)			1,388		(97,572)		(137,520)
	Equity in net (gain) loss on sale of joint venture property / real estate	(8,471)		—			12,629		4,158		—
	Purchase price and other fair value adjustments	—		—			(2,664)		(2,664)		—
	Depreciable real estate reserves	(2,545)		—			8,241		5,696		—
	Non-real estate depreciation and amortization	(672)		(609)			(527)		(1,199)		(1,259)
	Funds From Operations	$	117,672	$	136,092		$	128,326	$	245,998	$	308,113
	Funds From Operations - Basic per Share (1)	$	1.60	$	1.75		$	1.75	$	3.35	$	3.90
	Funds From Operations - Diluted per Share (1)	$	1.60	$	1.74		$	1.73	$	3.33	$	3.89
	Funds From Operations - Pro forma per Share (2)	$	1.60	$	1.70		$	1.73	$	3.33	$	3.79
Funds Available for Distribution
FFO		$	117,672	$	136,092		$	128,326	$	245,998	$	308,113
	Non real estate depreciation and amortization	672		609			527		1,199		1,259
	Amortization of deferred financing costs	3,386		2,661			3,774		7,160		5,161
	Non-cash deferred compensation	11,076		4,697			12,965		24,041		21,562
	FAD adjustment for joint ventures	(17,018)		(11,698)			(23,081)		(40,099)		(24,917)
	Straight-line rental income and other non-cash adjustments	(7,632)		11,004			(883)		(8,515)		(36,355)
	Second cycle tenant improvements	(8,753)		(11,147)			(2,923)		(11,676)		(29,784)
	Second cycle leasing commissions	(3,384)		(1,861)			(8)		(3,392)		(4,905)
	Revenue enhancing recurring CAPEX	(803)		(283)			(230)		(1,033)		(467)
	Non-revenue enhancing recurring CAPEX	(5,156)		(5,260)			(2,419)		(7,575)		(8,869)
Reported Funds Available for Distribution		$	90,060	$	124,814		$	116,048	$	206,108	$	230,798
	First cycle tenant improvements	$	93	$	45		$	1,261	$	1,354	$	4,440
	First cycle leasing commissions	$	15	$	68		$	135	$	150	$	1,809
	Development costs	$	36,472	$	14,313		$	15,179	$	51,651	$	36,791
	Redevelopment costs	$	4,428	$	34,811		$	1,608	$	6,036	$	70,696
	Capitalized interest	$	20,671	$	16,368		$	17,583	$	38,254	$	36,851
(1) During the first quarter of 2021, the Company completed a reverse stock split to mitigate the dilutive impact of stock issued for a special dividend paid primarily in stock. The 2020 basic and diluted FFO per share numbers have been retroactively adjusted to reflect the impact of the reverse stock split.
(2) During the first quarter of 2021, the Company completed a reverse stock split to mitigate the dilutive impact of stock issued for a special dividend paid primarily in stock. GAAP requires the weighted average common shares outstanding to be adjusted retroactively for all periods presented to reflect the reverse stock split. To facilitate comparison between the periods presented, the Company calculated Pro forma diluted weighted average shares and units outstanding for the 2020 periods presented, which adjusts the share counts back to the originally-reported numbers.

Supplemental Information 14 Second Quarter 2021

CONSOLIDATED STATEMENT OF EQUITY Unaudited (Dollars in Thousands)

													Accumulated
	Series I												Other
	Preferred		Common		Additional		Treasury		Retained		Noncontrolling		Comprehensive
	Stock		Stock		Paid-In Capital		Stock		Earnings		Interests		Loss		TOTAL
Balance at December 31, 2020	$	221,932	$	716	$	3,862,949	$	(124,049)	$	1,015,462	$	26,032	$	(67,247)	$	4,935,795
Net income									105,343		(1,539)				103,804
Preferred dividends									(7,475)						(7,475)
Cash distributions declared ($1.82 per common share)									(125,836)						(125,836)
Cash distributions to noncontrolling interests											(173)				(173)
Issuance of stock dividend and reverse stock split					123,529										123,529
Other comprehensive income - unrealized gain on derivative instruments													15,932		15,932
Other comprehensive loss - SLG share of unconsolidated joint venture net unrealized loss on derivative instruments													(15,779)		(15,779)
Other comprehensive income - unrealized gain on marketable securities													231		231
DRSPP proceeds					467										467
Repurchases of common stock			(28)		(177,972)				(20,887)						(198,887)
Contributions to consolidated joint ventures											305				305
Reallocation of noncontrolling interests in the Operating Partnership									(32,475)						(32,475)
Deferred compensation plan and stock awards, net			2		14,317										14,319
Balance at June 30, 2021	$	221,932	$	690	$	3,823,290	$	(124,049)	$	934,132	$	24,625	$	(66,863)	$	4,813,757
RECONCILIATION OF SHARES AND UNITS OUTSTANDING, AND DILUTION COMPUTATION
	Common Stock		OP Units		Stock-Based Compensation		Diluted Shares
Share Count at December 31, 2020 (1)	68,508,127		3,938,823		—		72,446,950
YTD share activity	(628,325)		(130,789)		—		(759,114)
Share Count at June 30, 2021	67,879,802		3,808,034		—		71,687,836
Weighting factor	1,518,732		312,502		379,615		2,210,849
Weighted Average Share Count at June 30, 2021 - Diluted	69,398,534		4,120,536		379,615		73,898,685
(1) During the first quarter of 2021, the Company completed a reverse stock split to mitigate the dilutive impact of stock issued for a special dividend paid primarily in stock. The 2020 common shares outstanding have been retroactively adjusted to reflect the reverse stock split.

Supplemental Information 15 Second Quarter 2021

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

	June 30, 2021				March 31, 2021				December 31, 2020
	Total		SLG Share		Total		SLG Share		Total		SLG Share
Assets
Commercial real estate properties, at cost:
Land and land interests	$	3,702,546	$	1,898,985	$	3,981,820	$	1,951,554	$	4,487,855	$	2,248,837
Building and improvements	11,061,324		5,860,726		11,401,089		5,864,323		12,019,429		6,208,316
Building leasehold and improvements	433,210		207,917		431,824		207,640		430,881		207,451
Right of use asset - financing leases	740,832		345,489		740,832		345,489		740,832		345,489
Right of use asset - operating leases	231,553		115,776		231,553		115,776		246,949		131,172
	16,169,465		8,428,893		16,787,118		8,484,782		17,925,946		9,141,265
Less: accumulated depreciation	(1,580,864)		(746,880)		(1,543,787)		(710,437)		(1,782,066)		(823,829)
Net real estate	14,588,601		7,682,013		15,243,331		7,774,345		16,143,880		8,317,436
Cash and cash equivalents	638,797		395,531		217,530		96,217		244,295		122,150
Restricted cash	640,224		433,381		100,223		50,105		112,781		58,766
Tenant and other receivables	34,590		12,070		37,740		12,499		41,752		15,237
Deferred rents receivable	390,539		201,485		374,462		188,954		362,131		176,410
Deferred costs, net	223,898		133,156		210,164		122,354		221,761		125,669
Other assets	1,645,874		767,508		1,740,281		810,220		1,779,851		829,679
Total Assets	$	18,162,523	$	9,625,144	$	17,923,731	$	9,054,694	$	18,906,451	$	9,645,347
Liabilities and Equity
Mortgage and other loans payable, net of deferred financing costs of $143,318 at 6/30/2021, of which $83,175 is SLG share	$	10,581,104	$	5,475,491	$	9,414,923	$	4,376,658	$	9,749,204	$	4,618,052
Accrued interest	22,638		8,462		26,244		10,569		26,829		10,570
Accounts payable and accrued expenses	218,010		108,339		223,559		109,309		286,454		146,477
Deferred revenue	1,250,116		557,873		1,311,191		581,277		1,341,571		593,795
Lease liability - financing leases	744,020		346,682		743,804		346,677		743,540		346,647
Lease liability - operating leases	239,966		119,983		241,819		120,909		259,024		137,200
Security deposits	18,967		9,869		20,306		9,601		25,122		10,865
Other liabilities	90,446		62,464		103,290		71,500		125,701		86,531
Equity	4,997,256		2,935,981		5,838,595		3,428,194		6,349,006		3,695,210
Total Liabilities and Equity	$	18,162,523	$	9,625,144	$	17,923,731	$	9,054,694	$	18,906,451	$	9,645,347

Supplemental Information 16 Second Quarter 2021

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

	Three Months Ended				Three Months Ended				Three Months Ended
	June 30, 2021				March 31, 2021				June 30, 2020
	Total		SLG Share		Total		SLG Share		Total		SLG Share
Revenues
Rental revenue, net	$	248,874	$	116,595	$	249,971	$	115,335	$	233,382	$	102,796
Escalation and reimbursement revenues	35,851		15,910		42,938		18,324		32,596		14,909
Investment income	1,228		314		1,215		296		1,251		310
Other income	3,235		849		7,417		2,346		4,289		2,629
Total Revenues, net	289,188		133,668		301,541		136,301		271,518		120,644
Loss on early extinguishment of debt	(1,326)		(941)		—		—		—		—
Expenses
Operating expenses	42,410		19,677		46,233		19,881		35,338		14,863
Operating lease rent	5,643		2,824		5,644		2,824		6,201		3,009
Real estate taxes	54,015		24,512		54,592		24,471		51,735		23,128
Total Operating Expenses	102,068		47,013		106,469		47,176		93,274		41,000
Operating Income	185,794		85,714		195,072		89,125		178,244		79,644
Interest expense, net of interest income	79,129		34,274		78,749		33,427		79,638		32,714
Amortization of deferred financing costs	7,204		3,545		6,384		2,885		4,808		1,693
Depreciation and amortization	116,956		58,537		114,879		55,275		98,854		46,217
Net Loss	(17,495)		(10,642)		(4,940)		(2,462)		(5,056)		(980)
Real estate depreciation	116,715		58,490		114,592		55,218		98,568		46,161
FFO Contribution	$	99,220	$	47,848	$	109,652	$	52,756	$	93,512	$	45,181
FAD Adjustments:
Non real estate depreciation and amortization	$	241	$	47	$	287	$	57	$	286	$	56
Amortization of deferred financing costs	7,204		3,545		6,384		2,885		4,808		1,693
Straight-line rental income and other non-cash adjustments	(30,338)		(18,226)		(33,183)		(20,273)		(15,245)		(8,390)
Second cycle tenant improvement	(1,703)		(958)		(3,419)		(1,711)		(4,131)		(2,125)
Second cycle leasing commissions	(1,414)		(752)		(4,669)		(2,797)		(2,651)		(1,388)
Revenue enhancing recurring CAPEX	(270)		(12)		(36)		(315)		(1,306)		(513)
Non-revenue enhancing recurring CAPEX	(1,195)		(662)		(1,726)		(927)		(2,004)		(1,031)
Total FAD Adjustments	$	(27,475)	$	(17,018)	$	(36,362)	$	(23,081)	$	(20,243)	$	(11,698)
First cycle tenant improvement	$	2,519	$	1,242	$	581	$	158	$	6,318	$	2,529
First cycle leasing commissions	$	47	$	14	$	7	$	—	$	14	$	7
Development costs	$	129,346	$	80,107	$	112,571	$	71,745	$	151,046	$	107,258
Redevelopment costs	$	5,514	$	2,781	$	126	$	52	$	514	$	210
Capitalized interest	$	10,307	$	6,410	$	10,223	$	6,465	$	7,890	$	5,603

Supplemental Information 17 Second Quarter 2021

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

	Six Months Ended				Six Months Ended
	June 30, 2021				June 30, 2020
	Total		SLG Share		Total		SLG Share
Revenues
Rental revenue, net	$	498,845	$	231,930	$	471,794	$	208,100
Escalation and reimbursement revenues	78,789		34,234		72,247		33,101
Investment income	2,443		610		2,488		617
Other income	10,652		3,195		7,509		4,240
Total Revenues, net	590,729		269,969		554,038		246,058
Loss on early extinguishment of debt	(1,326)		(941)		—		—
Expenses
Operating expenses	88,643		39,558		86,928		37,342
Operating lease rent	11,287		5,648		12,562		6,099
Real estate taxes	108,607		48,983		105,107		47,063
Total Operating Expenses	208,537		94,189		204,597		90,504
Operating Income	380,866		174,839		349,441		155,554
Interest expense, net of interest income	157,878		67,701		165,962		68,491
Amortization of deferred financing costs	13,588		6,430		9,622		3,380
Depreciation and amortization	231,835		113,812		197,438		92,091
Net Loss	(22,435)		(13,104)		(23,581)		(8,408)
Real estate depreciation	231,307		113,708		196,864		91,978
FFO Contribution	$	208,872	$	100,604	$	173,283	$	83,570
FAD Adjustments:
Non real estate depreciation and amortization	$	528	$	104	$	574	$	113
Amortization of deferred financing costs	13,588		6,430		9,622		3,380
Straight-line rental income and other non-cash adjustments	(63,521)		(38,499)		(32,422)		(18,339)
Second cycle tenant improvement	(5,122)		(2,669)		(8,795)		(4,157)
Second cycle leasing commissions	(6,083)		(3,549)		(6,379)		(3,255)
Revenue enhancing recurring CAPEX	(306)		(327)		(1,861)		(570)
Non-revenue enhancing recurring CAPEX	(2,921)		(1,589)		(3,096)		(2,089)
Total FAD Adjustments	$	(63,837)	$	(40,099)	$	(42,357)	$	(24,917)
First cycle tenant improvement	$	3,100	$	1,400	$	13,730	$	6,176
First cycle leasing commissions	$	54	$	14	$	266	$	119
Development costs	$	241,917	$	151,852	$	251,774	$	178,785
Redevelopment costs	$	5,640	$	2,833	$	1,765	$	858
Capitalized Interest	$	20,530	$	12,875	$	16,619	$	11,801

Supplemental Information 18 Second Quarter 2021

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

	Three Months Ended				Three Months Ended			Six Months Ended
	June 30,		June 30,			March 31,		June 30,		June 30,
	2021		2020			2021		2021		2020
Net Operating Income (1)	$	95,785	$	108,246		$	101,644	$	197,429	$	228,865
SLG share of property NOI from unconsolidated JVs	86,704		77,841			87,687		174,391		152,908
NOI, including SLG share of unconsolidated JVs	182,489		186,087			189,331		371,820		381,773
Partners' share of NOI - consolidated JVs	133		(940)			95		229		(1,615)
NOI - SLG share	$	182,622	$	185,147		$	189,426	$	372,049	$	380,158
NOI, including SLG share of unconsolidated JVs	$	182,489	$	186,087		$	189,331	$	371,820	$	381,773
Free rent (net of amortization)	(11,726)		(4,575)			(13,928)		(25,655)		(8,379)
Amortization of acquired above and below-market leases, net	(2,932)		(5,436)			(2,410)		(5,342)		(10,496)
Straight-line revenue adjustment	(6,205)		(6,604)			(5,406)		(11,612)		(11,634)
Straight-line tenant credit loss	(3,257)		7,310			2,195		(1,062)		7,804
Operating lease straight-line adjustment	476		770			476		953		1,672
Cash NOI, including SLG share of unconsolidated JVs	158,845		177,552			170,258		329,102		360,740
Partners' share of cash NOI - consolidated JVs	130		(685)			92		223		(1,297)
Cash NOI - SLG share	$	158,975	$	176,867		$	170,350	$	329,325	$	359,443
(1) Includes SL Green Management Corp. and Emerge 212. Excludes lease termination income.

NOI Summary by Portfolio (1) - SLG Share
	Three Months Ended June 30, 2021				Six Months Ended June 30, 2021
	NOI		Cash NOI		NOI		Cash NOI
Manhattan Operating Properties	$	155,700	$	143,263	$	310,489	$	286,043
Retail Operating Properties	6,978		6,664		14,570		13,857
Residential Operating Properties	116		136		210		224
Suburban Operating Properties	2,637		2,638		4,694		4,589
Development/Redevelopment	13,917		2,992		29,169		11,715
Total Operating and Development	179,348		155,693		359,132		316,428
Property Dispositions (2)	4,722		4,725		11,593		11,610
Other (3)	(1,448)		(1,443)		1,324		1,287
Total	$	182,622	$	158,975	$	372,049	$	329,325
(1) Portfolio composition consistent with the Selected Property Data tables.
(2) Includes properties sold or otherwise disposed of during the respective period.
(3) Includes SL Green Management Corp., Emerge 212, Belmont Insurance Company and Ticonderoga Insurance Company.

Supplemental Information 19 Second Quarter 2021

SELECTED FINANCIAL DATA 2021 Same Store Net Operating Income - Wholly Owned and Consolidated JVs Unaudited (Dollars in Thousands)

		Three Months Ended								Three Months Ended				Six Months Ended
		June 30,			June 30,						March 31,			June 30,			June 30,
		2021			2020			%			2021			2021			2020			%
Revenues
	Rental revenue, net	$	140,686		$	138,782		1.4	%		$	136,995		$	277,681		$	285,153		(2.6)	%
	Escalation & reimbursement revenues	15,867			17,166			(7.6)	%		17,839			33,706			37,732			(10.7)	%
	Other income	1,195			10,792			(88.9)	%		48			1,243			11,160			(88.9)	%
	Total Revenues	157,748			166,740			(5.4)	%		154,882			312,630			334,045			(6.4)	%
Expenses
	Operating expenses	31,041			29,483			5.3	%		31,691			62,732			67,688			(7.3)	%
	Operating lease rent	6,225			7,103			(12.4)	%		6,225			12,450			13,696			(9.1)	%
	Real estate taxes	35,967			34,631			3.9	%		35,930			71,897			69,282			3.8	%
	Total Operating Expenses	73,233			71,217			2.8	%		73,846			147,079			150,666			(2.4)	%
	Operating Income	84,515			95,523			(11.5)	%		81,036			165,551			183,379			(9.7)	%
	Interest expense & amortization of financing costs	17,845			13,691			30.3	%		17,794			35,639			26,792			33.0	%
	Depreciation & amortization	44,476			50,472			(11.9)	%		45,556			90,032			102,670			(12.3)	%
	Income before noncontrolling interest	22,194			31,360			(29.2)	%		17,686			39,880			53,917			(26.0)	%
	Real estate depreciation & amortization	44,459			50,454			(11.9)	%		45,538			89,997			102,635			(12.3)	%
	FFO Contribution	$	66,653		$	81,814		(18.5)	%		$	63,224		$	129,877		$	156,552		(17.0)	%
	Non–building revenue	(87)			(222)			(60.8)	%		(35)			(122)			(550)			(77.8)	%
	Interest expense & amortization of financing costs	17,845			13,691			30.3	%		17,794			35,639			26,792			33.0	%
	Non-real estate depreciation	17			18			(5.6)	%		18			35			35			—	%
	NOI	$	84,428		$	95,301		(11.4)	%		$	81,001		$	165,429		$	182,829		(9.5)	%
Cash Adjustments
	Free rent (net of amortization)	$	(4,168)		$	(3,130)		33.2	%		$	(4,718)		$	(8,886)		$	(5,717)		55.4	%
	Straight-line revenue adjustment	(1,065)			(1,860)			(42.7)	%		(25)			(1,090)			(2,185)			(50.1)	%
	Amortization of acquired above and below-market leases, net	(100)			(858)			(88.3)	%		(95)			(195)			(2,428)			(92.0)	%
	Operating lease straight-line adjustment	244			245			(0.4)	%		245			489			533			(8.3)	%
	Straight-line tenant credit loss	(2,651)			5,090			(152.1)	%		1,363			(1,288)			5,102			(125.2)	%
	Cash NOI	$	76,688		$	94,788		(19.1)	%		$	77,771		$	154,459		$	178,134		(13.3)	%
	Lease termination income	(1,095)			(10,570)			(89.6)	%		(5)			(1,100)			(10,590)			(89.6)	%
	Cash NOI excluding lease termination income	$	75,593		$	84,218		(10.2)	%		$	77,766		$	153,359		$	167,544		(8.5)	%
Operating Margins
	NOI to real estate revenue, net	53.6		%	57.2		%				52.3		%	52.9		%	54.8		%
	Cash NOI to real estate revenue, net	48.6		%	56.9		%				50.2		%	49.4		%	53.4		%
	NOI before operating lease rent/real estate revenue, net	57.5		%	61.5		%				56.3		%	56.9		%	58.9		%
	Cash NOI before operating lease rent/real estate revenue, net	52.4		%	61.0		%				54.1		%	53.3		%	57.4		%

Supplemental Information 20 Second Quarter 2021

SELECTED FINANCIAL DATA 2021 Same Store Net Operating Income - Unconsolidated JVs Unaudited (Dollars in Thousands, SLG Share)

		Three Months Ended								Three Months Ended				Six Months Ended
		June 30,			June 30,						March 31,			June 30,			June 30,
		2021			2020			%			2021			2021			2020			%
Revenues
	Rental revenue, net	$	105,064		$	99,759		5.3	%		$	105,958		$	211,022		$	201,731		4.6	%
	Escalation & reimbursement revenues	15,954			15,156			5.3	%		18,254			34,208			33,591			1.8	%
	Other income	1,022			381			168.2	%		852			1,874			1,310			43.1	%
	Total Revenues	122,040			115,296			5.8	%		125,064			247,104			236,632			4.4	%
Expenses
	Operating expenses	16,319			13,704			19.1	%		18,188			34,507			34,685			(0.5)	%
	Operating lease rent	2,824			2,824			—	%		2,824			5,648			5,727			(1.4)	%
	Real estate taxes	24,462			22,922			6.7	%		24,265			48,727			46,653			4.4	%
	Total Operating Expenses	43,605			39,450			10.5	%		45,277			88,882			87,065			2.1	%
	Operating Income	78,435			75,846			3.4	%		79,787			158,222			149,567			5.8	%
	Interest expense & amortization of financing costs	33,377			34,560			(3.4)	%		33,181			66,558			71,974			(7.5)	%
	Depreciation & amortization	47,551			43,222			10.0	%		49,439			96,990			86,145			12.6	%
	Loss before noncontrolling interest	(2,493)			(1,936)			28.8	%		(2,833)			(5,326)			(8,552)			(37.7)	%
	Real estate depreciation & amortization	47,550			43,222			10.0	%		49,439			96,989			86,144			12.6	%
	FFO Contribution	$	45,057		$	41,286		9.1	%		$	46,606		$	91,663		$	77,592		18.1	%
	Non–building revenue	(771)			(203)			279.8	%		(817)			(1,588)			(1,123)			41.4	%
	Interest expense & amortization of financing costs	33,377			34,560			(3.4)	%		33,181			66,558			71,974			(7.5)	%
	Non-real estate depreciation	1			—			100.0	%		—			1			1			—	%
	NOI	$	77,664		$	75,643		2.7	%		$	78,970		$	156,634		$	148,444		5.5	%
Cash Adjustments
	Free rent (net of amortization)	$	1,191		$	(899)		(232.5)	%		$	(2,609)		$	(1,418)		$	(2,060)		(31.2)	%
	Straight-line revenue adjustment	(2,727)			(4,641)			(41.2)	%		(5,580)			(8,307)			(9,710)			(14.4)	%
	Amortization of acquired above and below-market leases, net	(4,824)			(3,807)			26.7	%		(4,311)			(9,135)			(7,630)			19.7	%
	Operating lease straight-line adjustment	233			252			(7.5)	%		232			465			594			(21.7)	%
	Straight-line tenant credit loss	(630)			1,269			(149.6)	%		840			210			1,740			(87.9)	%
	Cash NOI	$	70,907		$	67,817		4.6	%		$	67,542		$	138,449		$	131,378		5.4	%
	Lease termination income	(247)			(172)			43.6	%		(7)			(254)			(179)			41.9	%
	Cash NOI excluding lease termination income	$	70,660		$	67,645		4.5	%		$	67,535		$	138,195		$	131,199		5.3	%
Operating Margins
	NOI to real estate revenue, net	64.0		%	65.7		%				63.6		%	63.8		%	63.0		%
	Cash NOI to real estate revenue, net	58.5		%	58.9		%				54.4		%	56.4		%	55.8		%
	NOI before operating lease rent/real estate revenue, net	66.4		%	68.2		%				65.8		%	66.1		%	65.5		%
	Cash NOI before operating lease rent/real estate revenue, net	60.6		%	61.2		%				56.4		%	58.5		%	58.0		%

Supplemental Information 21 Second Quarter 2021

SELECTED FINANCIAL DATA 2021 Same Store Net Operating Income Unaudited (Dollars in Thousands)

		Three Months Ended								Three Months Ended				Six Months Ended
		June 30,			June 30,						March 31,			June 30,			June 30,
		2021			2020			%			2021			2021			2020			%
Revenues
	Rental revenue, net	$	140,686		$	138,782		1.4	%		$	136,995		$	277,681		$	285,153		(2.6)	%
	Escalation & reimbursement revenues	15,867			17,166			(7.6)	%		17,839			33,706			37,732			(10.7)	%
	Other income	1,195			10,792			(88.9)	%		48			1,243			11,160			(88.9)	%
	Total Revenues	157,748			166,740			(5.4)	%		154,882			312,630			334,045			(6.4)	%
	Equity in Net Loss from Unconsolidated Joint Ventures (1)	(2,493)			(1,936)			28.8	%		(2,833)			(5,326)			(8,552)
Expenses
	Operating expenses	31,041			29,483			5.3	%		31,691			62,732			67,688			(7.3)	%
	Operating lease rent	6,225			7,103			(12.4)	%		6,225			12,450			13,696			(9.1)	%
	Real estate taxes	35,967			34,631			3.9	%		35,930			71,897			69,282			3.8	%
	Total Operating Expenses	73,233			71,217			2.8	%		73,846			147,079			150,666			(2.4)	%
	Operating Income	82,022			93,587			(12.4)	%		78,203			160,225			174,827			(8.4)	%
	Interest expense & amortization of financing costs	17,845			13,691			30.3	%		17,794			35,639			26,792			33.0	%
	Depreciation & amortization	44,476			50,472			(11.9)	%		45,556			90,032			102,670			(12.3)	%
	Income before noncontrolling interest	19,701			29,424			(33.0)	%		14,853			34,554			45,365			(23.8)	%
	Real estate depreciation & amortization	44,459			50,454			(11.9)	%		45,538			89,997			102,635			(12.3)	%
	Joint Ventures Real estate depreciation & amortization (1)	47,550			43,222			10.0	%		49,439			96,989			$	86,144		12.6	%
	FFO Contribution	$	111,710		$	123,100		(9.3)	%		$	109,830		$	221,540		$	234,144		(5.4)	%
	Non–building revenue	(87)			(222)			(60.8)	%		(35)			(122)			(550)			(77.8)	%
	Joint Ventures Non–building revenue (1)	(771)			(203)			279.8	%		(817)			(1,588)			(1,123)			41.4	%
	Interest expense & amortization of financing costs	17,845			13,691			30.3	%		17,794			35,639			26,792			33.0	%
	Joint Ventures Interest expense & amortization of financing costs (1)	33,377			34,560			(3.4)	%		33,181			66,558			71,974			(7.5)	%
	Non-real estate depreciation	17			18			(5.6)	%		18			35			35			—	%
	Joint Ventures Non-real estate depreciation (1)	1			—			100.0	%		—			1			1			—	%
	NOI	$	162,092		$	170,944		(5.2)	%		$	159,971		$	322,063		$	331,273		(2.8)	%
Cash Adjustments
	Non-cash adjustments	$	(7,740)		$	(513)		1,408.8	%		$	(3,230)		$	(10,970)		$	(4,695)		133.7	%
	Joint Ventures non-cash adjustments (1)	(6,757)			(7,826)			(13.7)	%		(11,428)			(18,185)			(17,066)			6.6	%
	Cash NOI	$	147,595		$	162,605		(9.2)	%		$	145,313		$	292,908		$	309,512		(5.4)	%
	Lease termination income	(1,095)			(10,570)			(89.6)	%		(5)			(1,100)			(10,590)			(89.6)	%
	Joint Ventures lease termination income (1)	(247)			(172)			43.6	%		(7)			(254)			(179)			41.9	%
	Cash NOI excluding lease termination income	$	146,253		$	151,863		(3.7)	%		$	145,301		$	291,554		$	298,743		(2.4)	%
Operating Margins
	NOI to real estate revenue, net	58.1		%	60.7		%				57.3		%	57.7		%	58.2		%
	Cash NOI to real estate revenue, net	52.9		%	57.7		%				52.1		%	52.5		%	54.4		%
	NOI before operating lease rent/real estate revenue, net	61.4		%	64.2		%				60.6		%	61.0		%	61.6		%
	Cash NOI before operating lease rent/real estate revenue, net	56.0		%	61.1		%				55.1		%	55.6		%	57.6		%
(1) The amount represents the Company's share of same-store unconsolidated joint venture activity. The Company does not control investments in unconsolidated joint ventures.

Supplemental Information 22 Second Quarter 2021

DEBT SUMMARY SCHEDULE Consolidated Unaudited (Dollars in Thousands)

					Principal				2021		Initial		Principal		As-Of	Final
				Ownership	Outstanding				Principal		Maturity		Due at		Right	Maturity	Earliest
Fixed rate debt				Interest (%)	6/30/2021		Coupon (1)		Amortization		Date		Maturity		Extension	Date (2)	Prepayment (3)
Secured fixed rate debt
	100 Church Street			100.0	$	202,558	4.68%		$	4,663	Jul-22		$	197,784	—	Jul-22	Apr-22
	420 Lexington Avenue			100.0	291,359		3.99%		5,375		Oct-24		272,749		—	Oct-40	Jul-24
	Landmark Square			100.0	100,000		4.90%		—		Jan-27		100,000		—	Jan-27	Oct-26
	485 Lexington Avenue			100.0	450,000		4.25%		—		Feb-27		450,000		—	Feb-27	Oct-26
	1080 Amsterdam			92.5	34,773		3.59%		241		Feb-27		30,549		—	Feb-27	Open
					$	1,078,690	4.30%		$	10,279			$	1,051,082
Unsecured fixed rate debt
	Unsecured notes (swapped)				$	350,000	1.52%		$	—	Aug-21		$	350,000	—	Aug-21	Open
	Unsecured notes				499,857		3.25%		—		Oct-22		500,000		—	Oct-22	Open
	Unsecured notes				301,547		4.50%		—		Dec-22		300,000		—	Dec-22	Open
	Term loan A (swapped)				1,300,000		2.47%	(4)	—		Mar-23	(4)	1,300,000		—	Mar-23	Open
	Term loan B (swapped)				200,000		1.14%		—		Nov-24		200,000		—	Nov-24	Open
	Unsecured notes				100,000		4.27%		—		Dec-25		100,000		—	Dec-25	Open
	Junior subordinated deferrable interest debentures (swapped)				100,000		1.46%		—		Jul-35		100,000		—	Jul-35	Open
					$	2,851,404	2.64%		$	—			$	2,850,000
		Total Fixed Rate Debt			$	3,930,094	3.09%		$	10,279			$	3,901,082
Floating rate debt
Secured floating rate debt
	185 Broadway (LIBOR + 285 bps)			100.0	$	178,251	2.95%		$	—	Nov-21		$	168,871	—	Nov-23	Open
	609 Fifth Avenue (LIBOR + 295 bps)			100.0	57,651		3.05%		—		Mar-22		57,651		—	Mar-22	Open
	220 East 42nd (LIBOR + 275 bps)			100.0	510,000		2.85%		—		Jun-23		510,000		—	Jun-25	Open
	719 Seventh Avenue (LIBOR + 120 bps)			75.0	50,000		1.45%		—		Sep-23		50,000		—	Sep-23	Open
					$	795,902	2.80%		$	—			$	786,522
Unsecured floating rate debt
	Revolving credit facility (LIBOR + 100 bps)				$	—	1.10%		$	—	Mar-22		$	630,000	Mar-23	Mar-23	Open
					$	—	1.10%		$	—			$	630,000
		Total Floating Rate Debt			$	795,902	2.80%		$	—			$	1,416,522
		Total Debt - Consolidated			$	4,725,996	3.05%		$	10,279			$	5,317,604
		Deferred financing costs			(26,820)
		Total Debt - Consolidated, net			$	4,699,176	3.05%
		Total Debt - Joint Venture, net			$	5,475,491	3.17%
	Total Debt including SLG share of unconsolidated JV Debt				$	10,284,662	3.11%
	Weighted Average Balance & Interest Rate for the quarter, including SLG share of JV Debt				$	9,859,742	2.98%
(1) Coupon for floating rate debt determined using the effective 1-month LIBOR rate at the end of the quarter of 0.10% or the effective 3-month LIBOR rate at the end of the quarter of 0.15%, as applicable. Coupon for loans that are subject to LIBOR floors were determined using the LIBOR floors.
(2) Reflects exercise of all available extension options, which may be subject to conditions.
(3) Loans noted as "open" may be subject to certain fees, premiums or other amounts due on early repayment.
(4) Represents a blended fixed rate inclusive of the effect of the following swaps:
	Term Loan A (swapped)
	Notional Value	Rate	Maturity Date
	100,000,000	0.14%	Feb-22
	400,000,000	0.16%	Feb-23
	200,000,000	1.13%	Jul-23
	100,000,000	1.16%	Jul-23
	150,000,000	2.70%	Jan-24
	200,000,000	2.74%	Jan-26
	150,000,000	2.72%	Jan-26

Supplemental Information 23 Second Quarter 2021

DEBT SUMMARY SCHEDULE Unconsolidated JVs Unaudited (Dollars in Thousands)

				Principal Outstanding								2021			Initial		Principal		As-Of	Final
			Ownership	6/30/21							Principal Amortization				Maturity		Due at Maturity		Right	Maturity	Earliest
Fixed rate debt			Interest (%)	Gross Principal			SLG Share			Coupon (1)		(SLG Share)			Date		(SLG Share)		Extension	Date (2)	Prepayment (3)
	717 Fifth Avenue (mortgage)		10.9	$	300,000		$	32,748		4.45%		$	—		Jul-22		$	32,748	—	Jul-22	Open
	717 Fifth Avenue (mezzanine)		10.9	355,328			38,788			5.50%		—			Jul-22		38,788		—	Jul-22	Mar-22
	650 Fifth Avenue (mortgage)		50.0	210,000			105,000			4.46%		—			Oct-22		105,000		—	Oct-22	Open
	650 Fifth Avenue (mezzanine)		50.0	65,000			32,500			5.45%		—			Oct-22		32,500		—	Oct-22	Open
	21 East 66th Street		32.3	12,000			3,874			3.60%		—			Apr-23		3,874		—	Apr-28	Open
	919 Third Avenue		51.0	500,000			255,000			5.12%		—			Jun-23		255,000		—	Jun-23	Feb-23
	1515 Broadway		56.9	811,275			461,364			3.93%		10,670			Mar-25		419,372		—	Mar-25	Sep-24
	11 Madison Avenue		60.0	1,400,000			840,000			3.84%		—			Sep-25		840,000		—	Sep-25	Mar-25
	800 Third Avenue (swapped)		60.5	177,000			107,120			3.37%		—			Feb-26		107,120		—	Feb-26	Open
	400 East 57th Street		41.0	96,666		(4)	39,633		(4)	3.00%		628			Nov-26		36,798		—	Nov-26	Open
	Worldwide Plaza		25.0	1,200,000			299,400			3.98%		—			Nov-27		299,400		—	Nov-27	Jul-27
	Stonehenge Portfolio		Various	195,899		(5)	11,279			3.50%		85			Various	(5)	10,325		—	Various	Open
	One Vanderbilt Avenue		71.0	3,000,000			2,130,300			2.86%	(6)	—			Jul-31		2,130,300		—	Jul-31	Jul-23
	Total Fixed Rate Debt			$	8,323,168		$	4,357,006		3.48%	(7)	$	11,383				$	4,311,225
Floating rate debt
	280 Park Avenue (LIBOR + 173 bps)		50.0	$	1,200,000		$	600,000		1.83%		$	—		Sep-21		$	600,000	Sep-24	Sep-24	Open
	1552 Broadway (LIBOR + 265 bps)		50.0	195,000			97,500			2.75%		—			Oct-21		97,500		—	Oct-22	Open
	2 Herald Square (LIBOR + 145 bps)		51.0	214,500			109,395			1.55%		—			Nov-21		109,395		—	Nov-23	Open
	11 West 34th Street (LIBOR + 145 bps)		30.0	23,000			6,900			1.63%		—			Jan-22		6,900		Jan-23	Jan-23	Open
	121 Greene Street (LIBOR + 200 bps)		50.0	13,577			6,789			2.10%		—			Nov-22		6,789		—	Nov-22	Open
	115 Spring Street (LIBOR + 340 bps)		51.0	65,550			33,431			3.50%		—			Sep-23		33,431		—	Sep-23	Open
	100 Park Avenue (LIBOR + 225 bps)		49.9	360,000			179,640			2.50%		—			Dec-23		179,640		—	Dec-25	Open
	15 Beekman (LIBOR + 150 bps)		20.0	27,002			5,400			2.25%		—			Jan-24		5,400		—	Jul-25	Open
	10 East 53rd Street (LIBOR + 135 bps)		55.0	220,000			121,000			1.45%		—			Feb-25		121,000		—	Feb-25	Open
	One Madison Avenue (LIBOR + 335 bps)		50.5	81,971			41,395			3.60%		—			Nov-25		41,395		—	Nov-26	Open
	21 East 66th Street (T 12 mos + 275 bps)		32.3	654			210			2.82%		14			Jun-33		2		—	Jun-33	Open
	Total Floating Rate Debt			$	2,401,254		$	1,201,660		2.05%	(7)	$	14				$	1,201,452
	Total unconsolidated JV Debt			$	10,724,422		$	5,558,666		3.17%	(7)	$	11,397				$	5,512,677
		Deferred financing costs		(143,318)			(83,175)
	Total unconsolidated JV Debt, net			$	10,581,104		$	5,475,491		3.17%
(1) Coupon for floating rate debt determined using the effective 1-month LIBOR rate at the end of the quarter of 0.11%. Coupon for loans that are subject to LIBOR floors were determined using the LIBOR floors.
(2) Reflects exercise of all available extension options, which may be subject to conditions.
(3) Loans noted as "open" may be subject to certain fees, premiums or penalties on early repayment.
(4) In April 2021, the Company entered into contract to sell its interest in the property.
(5) Comprised of three mortgages totaling $132.4 million that mature in April 2028 and two mortgages totaling $63.5 million that mature in July 2029.
(6) The financing carries a stated coupon of 2.855%, equivalent to a rate of 2.947% inclusive of hedging costs.
(7) Calculated based on SL Green's share of the outstanding debt.
	SL GREEN REALTY CORP.										Composition of Debt
	Revolving Credit Facility Covenants											Fixed Rate Debt
			Actual	Required											Consolidated		$	3,930,094
	Total Debt / Total Assets		40.8%	Less than 60%										SLG Share of JV			4,357,006
	Fixed Charge Coverage		2.47x	Greater than 1.4x								Total Fixed Rate Debt					$	8,287,100	80.6%
	Maximum Secured Indebtedness		17.3%	Less than 50%
	Maximum Unencumbered Leverage Ratio		50.2%	Less than 60%								Floating Rate Debt
	Unsecured Notes Covenants														Consolidated		$	795,902
			Actual	Required										SLG Share of JV			1,201,660
	Total Debt / Total Assets		38.7%	Less than 60%													1,997,562		19.4%
	Secured Debt / Total Assets		19.6%	Less than 40%							Floating Rate DPE and Other Investments						(308,351)		(3.0)%
	Debt Service Coverage		3.00x	Greater than 1.5x								Total Floating Rate Debt					$	1,689,211	16.4%
	Unencumbered Assets / Unsecured Debt		285.4%	Greater than 150%								Total Debt					$	10,284,662

Supplemental Information 24 Second Quarter 2021

SUMMARY OF LEASE LIABILITIES Unaudited (Dollars in Thousands)

	Ownership		2021 Scheduled			2022 Scheduled			2023 Scheduled			2024 Scheduled			Lease		Year of Final
Property	Interest (%)		Cash Payment			Cash Payment			Cash Payment			Cash Payment			Liabilities(1)		Expiration(2)
Consolidated Lease Liabilities (SLG Share)
Operating Leases
1185 Avenue of the Americas		100.0	$	6,909		$	6,909		$	6,909		$	6,909		$	92,345	2043
SL Green Headquarters at One Vanderbilt		71.0	—		(3)(4)	695		(3)(4)	1,398		(3)(4)	1,695		(3)	94,303		2048
625 Madison Avenue		100.0	4,613			2,306		(5)	—		(5)	—		(5)	4,519		2054
420 Lexington Avenue		100.0	11,199			11,199			11,199			11,199			178,331		2080
711 Third Avenue		100.0	5,500			5,500			5,500			5,500			50,975		2083	(6)
885 Third Avenue		100.0	759			759			759			759			15,351		2080
1080 Amsterdam Avenue		92.5	290			290			290			306			7,489		2111
Total			$	29,270		$	27,658		$	26,055		$	26,368		$	443,313
Financing Leases
1080 Amsterdam Avenue		92.5	$	404		$	404		$	404		$	426		$	22,546	2111
15 Beekman		100.0	3,041			3,087			3,133			3,180			102,262		2119	(7)
Total			$	3,445		$	3,491		$	3,537		$	3,606		$	124,808
Unconsolidated Joint Venture Lease Liabilities (SLG Share)
Operating Leases
650 Fifth Avenue (Floors 4-6)		50.0	$	1,659		$	1,790		$	1,790		$	1,790		$	17,358	2053
650 Fifth Avenue (Floors b-3)		50.0	1,428			1,441			1,458			1,569			31,049		2062
1560 Broadway		50.0	6,861			6,861			6,935			7,272			71,576		2114
Total			$	9,948		$	10,092		$	10,183		$	10,631		$	119,983
Financing Leases
650 Fifth Avenue (Floors b-3)		50.0	$	6,695		$	6,695		$	6,786		$	7,364		$	99,332	2062
One Vanderbilt Avenue Garage		71.0	203			205			207			209			3,385		2069
2 Herald Square		51.0	7,107			7,285			7,467			7,654			223,491		2077	(7)
Total			$	14,005		$	14,185		$	14,460		$	15,227		$	326,208
(1) Per the balance sheet as of June 30, 2021.
(2) Reflects all available extension options.
(3) Reflects scheduled cash payments net of the Company's ownership interest.
(4) The 2021, 2022, and 2023 scheduled cash payments reflect free rent.
(5) Reflects known cash payments through ground rent reset date.
(6) Reflects 50% of the annual ground rent payment as the Company owns 50% of the fee interest.
(7) The Company has an option to purchase the ground lease for a fixed price on a specific date. Scheduled cash payments do not reflect the exercise of the purchase option.

Supplemental Information 25 Second Quarter 2021

DEBT AND PREFERRED EQUITY INVESTMENTS Unaudited (Dollars in Thousands)

					Weighted Average Book			Weighted Average		Weighted Average Yield
	Book Value (1)				Value During Quarter			Yield During Quarter(2)		At End Of Quarter (3)
6/30/2020		$	1,221,936			$	1,571,381		8.35%		8.63%
Debt investment originations/fundings/accretion(4)		94,062
Preferred Equity investment originations/accretion(4)		3,176
Redemptions/Sales/Syndications/Equity Ownership/Amortization		(156,854)
Reserves/Realized Losses		(8,957)
9/30/2020		$	1,153,363			$	1,220,310		7.04%		7.07%
Debt investment originations/fundings/accretion(4)		5,935
Preferred Equity investment originations/accretion(4)		3,221
Redemptions/Sales/Syndications/Equity Ownership/Amortization		(77,697)
Reserves/Realized Losses		(8,280)
12/31/2020		$	1,076,542			$	1,090,681		6.49%		6.80%
Debt investment originations/fundings/accretion(4)		17,465
Preferred Equity investment originations/accretion(4)		3,195
Redemptions/Sales/Syndications/Equity Ownership/Amortization		—
Reserves/Realized Losses		—
3/31/2021		$	1,097,202			$	1,102,569		6.77%		6.86%
Debt investment originations/fundings/accretion(4)		72,525
Preferred Equity investment originations/accretion(4)		3,274
Redemptions/Sales/Syndications/Equity Ownership/Amortization		(100,290)
Reserves/Realized Losses		—
6/30/2021		$	1,072,711	(5)		$	1,156,359		7.11%		7.34%
(1) Net of unamortized fees, discounts, and premiums.
(2) Excludes loan loss reserves and accelerated fee income resulting from early repayment.
(3) Calculated based on GAAP income, which includes cash interest, paid-in-kind interest, fee accrual and amortization of discounts, recognized in the last month of the quarter. Excludes accelerated fee income resulting from early repayment and loan loss reserves.
(4) Includes funded future funding obligations, amortization of fees and discounts and paid-in-kind investment income.
(5) Excludes debt and preferred equity investments totaling $35.0 million with a weighted average current yield of 3.59% that are included in other balance sheet line items.

Supplemental Information 26 Second Quarter 2021

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

	Book Value							Senior		Weighted Average			Weighted Average		Weighted Average Yield
Type of Investment	Floating rate		Fixed rate		Total			Financing		Exposure PSF (1)			Yield During Quarter (2)		At End Of Quarter (2)(3)
Senior Mortgage Debt	$	13,753	$	1,250	$	15,003		$	—		$	148		4.62%		5.33%
Junior Mortgage Participation	7,213		—		7,213			60,000			$	9,602		7.70%		7.54%
Mezzanine Debt	287,385		496,855		784,240			4,738,952			$	849		6.35%		6.51%
Preferred Equity	—		266,255		266,255			1,962,750			$	937		9.83%		9.92%
Balance as of 6/30/21	$	308,351	$	764,360	$	1,072,711	(4)				$	920		7.11%		7.34%

	Debt and Preferred Equity Maturity Profile (5)
	2021	2022	2023	2024	2025 & Thereafter
Floating Rate	38,321	246,512	23,519	—	—
Fixed Rate	56,248	199,787	287,607	6,890	213,827
Sub-total	94,569	446,299	311,126	6,890	213,827

(1) Net of loan loss reserves.

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

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

(4) Net of unamortized fees, discounts, and premiums. Excludes debt and preferred equity investments totaling $35.0 million with a weighted average current yield of 3.59% that are included in other balance sheet line items.

(5) The weighted average maturity of the outstanding balance is 2.10 years. Approximately 27.6% of our portfolio of investments have extension options, some of which may be subject to certain conditions for extension. The weighted average fully extended maturity of the outstanding balance is 2.91 years.

Supplemental Information 27 Second Quarter 2021

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

	Book Value (1)		Property		Senior					Yield At End
Investment Type	6/30/2021		Type	Location	Financing		Last $ PSF(2)			Of Quarter (3)
Mezzanine Loan	$	225,367	Fee	Manhattan	$	364,858		$	1,012	(4)
Mezzanine Loan and Preferred Equity	212,928		Office	Manhattan	1,712,750			$	1,081	10.96%
Mezzanine Loan	130,774		Office	Manhattan	1,115,000			$	1,072	10.53%
Preferred Equity	108,577		Multi-Family Rental	Manhattan	250,000			$	727	6.55%
Mezzanine Loan	62,240		Fee	Manhattan	270,550			$	570	14.16%
Mortgage and Mezzanine Loans	56,248		Residential/Retail	Manhattan	—			$	720	3.61%
Mezzanine Loan	49,994		Office	Manhattan	275,000			$	414	6.86%
Mezzanine Loan	42,263		Multi-Family Rental	Manhattan	280,000			$	499	8.83%
Mezzanine Loan	37,148		Office	Manhattan	179,132			$	665	6.08%
Mezzanine Loan	30,000		Office	Manhattan	95,000			$	573	8.40%
Total	$	955,539
(1) Net of unamortized fees, discounts, and premiums excluding loan loss reserves.
(2) Reflects the last dollar of exposure to the Company's most junior position.
(3) Calculated based on GAAP income, which includes cash interest, paid-in-kind interest, fee accrual and amortization of discounts, recognized in the last month of the quarter excluding loan loss reserves.
(4) Loan is on non-accrual at 6/30/2021.

Supplemental Information 28 Second Quarter 2021

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

	Ownership			# of	Usable	% of Total		Occupancy % (Commenced Leases)										Annualized Contractual Cash Rent ($'s)	Annualized Contractual Cash Rent		Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Bldgs	Sq. Feet	Sq. Feet		Jun-21		Mar-21		Dec-20		Sep-20		Jun-20			100%	SLG%
CONSOLIDATED PROPERTIES
"Same Store"
100 Church Street	100.0	Downtown	Fee Interest	1	1,047,500	5.0		99.3		99.3		99.3		99.3		99.3		$51,117	7.8	4.7	19
110 East 42nd Street	100.0	Grand Central	Fee Interest	1	215,400	1.0		88.9		88.9		88.9		82.6		82.6		12,141	1.8	1.1	25
110 Greene Street	100.0	Soho	Fee Interest	1	223,600	1.1		76.9		76.7		89.3		89.3		89.9		13,539	2.1	1.2	52
125 Park Avenue	100.0	Grand Central	Fee Interest	1	604,245	2.9		99.6		99.6		99.6		99.4		99.5		47,790	7.2	4.4	26
220 East 42nd Street	100.0	Grand Central	Fee Interest	1	1,135,000	5.3		94.3		94.1		94.1		96.5		97.0		69,397	10.5	6.5	34
304 Park Avenue South	100.0	Midtown South	Fee Interest	1	215,000	1.0		100.0		91.2		91.2		91.2		74.9		17,594	2.7	1.6	7
420 Lexington Ave (Graybar)	100.0	Grand Central North	Leasehold Interest	1	1,188,000	5.5		85.3		85.7		90.5		91.7		91.7		81,719	12.4	7.5	171
461 Fifth Avenue	100.0	Midtown	Fee Interest	1	200,000	0.9		86.2		86.2		86.2		86.2		87.3		16,593	2.5	1.5	13
485 Lexington Avenue	100.0	Grand Central North	Fee Interest	1	921,000	4.4		85.9		85.9		89.5		89.5		89.5		55,652	8.4	5.1	29
555 West 57th Street	100.0	Midtown West	Fee Interest	1	941,000	4.5		99.9		99.9		99.9		99.9		99.9		49,479	7.5	4.6	9
711 Third Avenue	100.0 (1)	Grand Central North	Leasehold Interest (1)	1	524,000	2.5		91.2		96.4		89.1		89.1		91.3		34,030	5.2	3.1	21
810 Seventh Avenue	100.0	Times Square	Fee Interest	1	692,000	3.3		81.3		85.8		89.3		89.3		90.2		41,916	6.4	3.9	42
1185 Avenue of the Americas	100.0	Rockefeller Center	Leasehold Interest	1	1,062,000	5.0		79.8		79.8		79.8		94.1		93.3		79,242	12.0	7.3	12
1350 Avenue of the Americas	100.0	Rockefeller Center	Fee Interest	1	562,000	2.7		80.1		80.7		81.2		87.9		87.3		37,029	5.6	3.4	39
Subtotal / Weighted Average				14	9,530,745	45.1	%	89.7	%	90.1	%	91.3	%	93.5	%	93.3	%	$607,238	92.1%	55.9%	499
"Non Same Store"
590 Fifth Avenue	100.0	Midtown	Fee Interest	1	103,300	0.5		66.3		66.3		68.5		N/A		N/A		$6,119	0.9	0.6	9
885 Third Avenue	100.0	Midtown / Plaza District	Fee / Leasehold Interest	1	625,300	3.0		84.6		86.8		88.5		92.7		N/A		45,992	7.0	4.2	14
Subtotal / Weighted Average				2	728,600	3.5	%	82.0	%	83.9	%	85.7	%	92.7	%	—		52,111	7.9%	4.8%	23
Total / Weighted Average Consolidated Properties				16	10,259,345	48.6	%	89.1	%	89.7	%	90.9	%	93.5	%	93.3	%	$659,349	100.0%	60.7%	522
UNCONSOLIDATED PROPERTIES
"Same Store"
2 Herald Square	51.0	Herald Square	Leasehold Interest	1	369,000	1.7		95.8		95.8		95.8		95.8		95.8		$41,874		2.0	5
10 East 53rd Street	55.0	Plaza District	Fee Interest	1	354,300	1.7		87.7		91.0		93.5		95.8		95.1		29,431		1.5	35
11 Madison Avenue	60.0	Park Avenue South	Fee Interest	1	2,314,000	10.9		100.0		100.0		95.7		95.7		95.7		169,557		9.4	11
100 Park Avenue	50.0	Grand Central South	Fee Interest	1	834,000	3.9		83.6		83.0		82.5		81.8		80.7		61,778		2.8	38
280 Park Avenue	50.0	Park Avenue	Fee Interest	1	1,219,158	5.8		94.2		94.3		92.0		92.7		91.3		128,335		5.9	38
800 Third Avenue	60.5	Grand Central North	Fee Interest	1	526,000	2.5		92.2		92.9		94.7		91.2		94.1		38,510		2.1	38
919 Third Avenue	51.0	Grand Central North	Fee Interest	1	1,454,000	6.9		100.0		100.0		100.0		100.0		100.0		102,934		4.8	7
1515 Broadway	57.0	Times Square	Fee Interest	1	1,750,000	8.3		99.9		99.9		99.9		94.9		94.9		140,019		7.4	9
Worldwide Plaza	25.0	Westside	Fee Interest	1	2,048,725	9.7		97.7		97.7		96.6		94.6		94.6		148,397		3.4	23
Subtotal / Weighted Average				9	10,869,183	51.4	%	96.7	%	96.8	%	95.6	%	94.3	%	94.2	%	$860,835		39.3%	204
Total / Weighted Average Unconsolidated Properties				9	10,869,183	51.4	%	96.7	%	96.8	%	95.6	%	94.3	%	94.2	%	$860,835		39.3%	204
Manhattan Operating Properties Grand Total / Weighted Average				25	21,128,528	100.0	%	93.0	%	93.4	%	93.3	%	93.9	%	93.8	%	$1,520,184			726
Manhattan Operating Properties Grand Total - SLG share of Annualized Rent																		$1,086,314		100.0%
Manhattan Operating Properties Same Store Occupancy %					20,399,928	96.5	%	93.4	%	93.7	%	93.6	%	94.0	%	93.8	%
Manhattan Operating Properties Same Store Leased Occupancy %								93.6	%	94.1	%	94.3	%	95.2	%	95.4	%
(1) The Company owns 50% of the fee interest.

Supplemental Information 29 Second Quarter 2021

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

	Ownership			# of	Usable	% of Total		Occupancy % (Commenced Leases)										Annualized Contractual Cash Rent ($'s)	Annualized Contractual Cash Rent (SLG%)		Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Bldgs	Sq. Feet	Sq. Feet		Jun-21		Mar-21		Dec-20		Sep-20		Jun-20
"Same Store" Retail
11 West 34th Street	30.0	Herald Square/Penn Station	Fee Interest	1	17,150	5.5		100.0		100.0		100.0		100.0		100.0		$3,199	2.2		1
21 East 66th Street	32.3	Plaza District	Fee Interest	1	13,069	4.2		100.0		100.0		100.0		100.0		100.0		2,200	1.6		1
121 Greene Street	50.0	Soho	Fee Interest	1	7,131	2.3		100.0		100.0		100.0		100.0		100.0		1,814	2.1		2
650 Fifth Avenue	50.0	Plaza District	Leasehold Interest	1	69,214	22.2		100.0		100.0		100.0		100.0		100.0		36,868	41.6		1
717 Fifth Avenue	10.9	Midtown/Plaza District	Fee Interest	1	119,550	38.3		100.0		100.0		100.0		100.0		100.0		56,599	14.0		6
719 Seventh Avenue	75.0	Times Square	Fee Interest	1	10,040	3.2		—		—		—		—		—		—	—		—
1552-1560 Broadway	50.0	Times Square	Fee Interest	2	57,718	18.5		88.3		88.3		88.3		88.3		88.3		30,172	34.1		3
Added to Same Store in 2021
115 Spring Street	51.0	Soho	Fee Interest	1	5,218	1.7		100.0		100.0		100.0		100.0		100.0		3,792	4.4		1
Subtotal/Weighted Average				9	299,090	95.9	%	94.4	%	94.4	%	94.4	%	94.4	%	94.4	%	$134,644	100.0	%	15
"Non Same Store" Retail
85 Fifth Avenue	36.3	Midtown South	Fee Interest	1	12,946	4.1		—		100.0		100.0		N/A		N/A		$—	—		—
Subtotal/Weighted Average				1	12,946	4.1	%	—	%	100.0	%	100.0	%	—	%	—	%	$—	—	%	—
Total / Weighted Average Retail Properties				10	312,036	100.0	%	90.5	%	94.6	%	94.6	%	94.4	%	94.4	%	$134,644	100.0	%	15
Residential Properties
	Ownership			# of	Usable	Total		Occupancy % (Commenced Leases)										Average Monthly Rent Per Unit ($'s) (1)	Annualized Contractual Cash Rent ($'s)		Annualized Contractual Cash Rent (SLG%)
Properties	Interest (%)	SubMarket	Ownership	Bldgs	Sq. Feet	Units		Jun-21		Mar-21		Dec-20		Sep-20		Jun-20
"Same Store" Residential
400 East 57th Street (2)	41.0	Upper East Side	Fee Interest	1	290,482	263		71.5		65.4		66.2		72.6		89.0		$3,598	$9,446		60.1
1080 Amsterdam	92.5	Upper West Side	Leasehold Interest	1	82,250	97		40.6		38.5		35.4		33.3		83.3		4,017	2,225		31.9
Stonehenge Portfolio	Various	Various	Fee Interest	6	445,934	538		81.2		70.7		65.7		72.0		90.0		3,775	21,250		8.0
Subtotal/Weighted Average				8	818,666	898		74.0	%	65.7	%	62.6	%	68.0	%	89.0	%	$3,739	$32,921		100.0	%
Total / Weighted Average Residential Properties				8	818,666	898		74.0	%	65.7	%	62.6	%	68.0	%	89.0	%	$3,739	$32,921
Suburban Properties
	Ownership			# of	Usable	% of Total		Occupancy % (Commenced Leases)										Annualized Contractual Cash Rent ($'s)	Annualized Contractual Cash Rent (SLG%)		Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Bldgs	Sq. Feet	Sq. Feet		Jun-21		Mar-21		Dec-20		Sep-20		Jun-20
"Same Store"
Landmark Square	100.0	Stamford, Connecticut	Fee Interest	7	862,800	100.0		82.4		81.6		83.3		85.4		85.8		$20,985	100.0		112
Subtotal/Weighted Average				7	862,800	100.0	%	82.4	%	81.6	%	83.3	%	85.4	%	85.8	%	$20,985	100.0	%	112
Total / Weighted Average Suburban Properties				7	862,800	100.0	%	82.4	%	81.6	%	83.3	%	85.4	%	85.8	%	$20,985	100.0	%	112
(1) Calculated based on occupied units. Amounts in dollars.
(2) In April 2021, the Company entered into contract to sell its interest in the property.

Supplemental Information 30 Second Quarter 2021

SELECTED PROPERTY DATA Development / Redevelopment and Construction in Progress Unaudited (Dollars in Thousands)

	Ownership			# of	Usable	% of Total		Occupancy % (Commenced Leases)										Annualized Contractual Cash Rent ($'s)	Annualized Contractual Cash Rent (SLG%)	Gross R/E Book Value	Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Bldgs	Sq. Feet	Sq. Feet		Jun-21		Mar-21		Dec-20		Sep-20		Jun-20
Development / Redevelopment
One Vanderbilt Avenue	71.0	Grand Central	Fee Interest	1	1,657,198	50.0		66.9		59.4		58.0		—		N/A		$150,875	68.0	$2,878,000	17
19 East 65th Street	100.0	Plaza District	Fee Interest	1	14,639	0.4		5.5		5.5		5.5		5.5		5.5		32	—	9,639	1
609 Fifth Avenue	100.0	Rockefeller Center	Fee Interest	1	138,563	4.2		100.0		100.0		100.0		100.0		100.0		10,551	6.7	177,363	1
625 Madison Avenue	100.0	Plaza District	Leasehold Interest	1	563,000	17.0		25.2		26.1		26.7		32.0		32.7		19,737	12.5	293,262	19
707 Eleventh Avenue	100.0	Midtown West	Fee Interest	1	159,720	4.8		23.3		23.3		23.3		23.3		54.3		1,977	1.3	102,047	1
750 Third Avenue	100.0	Grand Central North	Fee Interest	1	780,000	23.6		34.0		39.1		66.9		68.4		89.4		18,185	11.5	310,029	22
Total / Weighted Average Development / Redevelopment Properties				6	3,313,120	100.0	%	51.1	%	48.7	%	54.6	%	26.9	%	66.9	%	$201,357	100.0	$3,770,340	61

Construction in Progress
							Future Equity
					Equity Contributed		Contributions		Financing		Total
Building Address	Usable	Ownership	Estimated	Percentage							Development
	Sq. Feet	Interest (%)	TCO(1)	Leased	Company	Partners	Company	Partners	Drawn	Available	Budget (2)
185 Broadway	198,488	100.0	Q3 2021	—	78,547	—	2,781	—	178,251	46,749	306,328
15 Beekman (3)	221,884	20.0	(3)	100.0	7,650	30,600	11,252	45,008	27,002	97,998	219,510
One Madison	1,048,700	50.5	Q4 2023	—	545,004	54,138	—	438,107	81,971	1,168,029	2,287,249
760 Madison	58,574	100.0	Q4 2023	(4)	322,296	—	117,832	—	—	—	440,128
Total Construction In Progress					$953,497	$84,738	$131,865	$483,115	$287,224	$1,312,776	$3,253,215
(1) Temporary Certificate of Occupancy.
(2) Includes fees payable to SL Green, as applicable.
(3) The space is 100% leased to Pace University for 30 years. Delivery of the academic space and dormitory space is estimated for Q4 2022 and Q3 2023, respectively.
(4) The flagship retail space, which is comprised of 22,648 square feet, is 100% leased to Giorgio Armani for 15 years.

Supplemental Information 31 Second Quarter 2021

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

	Ownership			# of	Usable	% of Total		Occupancy % (Commenced Leases)										Annualized Contractual Retail Cash Rent ($'s)	Annualized Contractual Retail Cash Rent				Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Bldgs	Sq. Feet	Sq. Feet		Jun-21		Mar-21		Dec-20		Sep-20		Jun-20			100%		SLG
HIGH STREET RETAIL - Consolidated Properties
719 Seventh Avenue	75.0	Times Square	Fee Interest	1	10,040	0.7		—		—		—		—		—		$—	—		—		—
Subtotal / Weighted Average				1	10,040	0.7	%	—	%	—	%	—	%	—	%	—	%	$—	—	%	—	%	—
HIGH STREET RETAIL - Unconsolidated Properties
11 West 34th Street	30.0	Herald Square/Penn Station	Fee Interest	1	17,150	1.2		100.0		100.0		100.0		100.0		100.0		$3,199	1.1		0.6		1
21 East 66th Street	32.3	Plaza District	Fee Interest	1	13,069	0.9		100.0		100.0		100.0		100.0		100.0		2,200	0.8		0.5		1
85 Fifth Avenue	36.3	Midtown South	Fee Interest	1	12,946	0.9		—		100.0		100.0		N/A		N/A		—	—		—		—
115 Spring Street	51.0	Soho	Fee Interest	1	5,218	0.4		100.0		100.0		100.0		100.0		100.0		3,792	1.4		1.3		1
121 Greene Street	50.0	Soho	Fee Interest	1	7,131	0.5		100.0		100.0		100.0		100.0		100.0		1,814	0.7		0.6		2
650 Fifth Avenue	50.0	Plaza District	Leasehold Interest	1	69,214	5.0		100.0		100.0		100.0		100.0		100.0		36,868	13.2		12.1		1
717 Fifth Avenue	10.9	Midtown/Plaza District	Fee Interest	1	119,550	8.7		100.0		100.0		100.0		100.0		100.0		56,599	20.3		4.1		6
1552-1560 Broadway	50.0	Times Square	Fee Interest	2	57,718	4.3		88.3		88.3		88.3		88.3		88.3		30,172	10.8		9.9		3
Subtotal / Weighted Average				9	301,996	21.9	%	93.5	%	97.8	%	97.8	%	97.7	%	97.7	%	$134,644	48.3	%	29.1	%	15
Total / Weighted Average Prime Retail				10	312,036	22.6	%	90.5	%	94.6	%	94.6	%	94.4	%	94.4	%	$134,644	48.3	%	29.1	%	15
OTHER RETAIL - Consolidated Properties
100 Church Street	100.0	Downtown	Fee Interest	1	61,708	4.6		100.0		100.0		100.0		100.0		100.0		$3,610	1.3		2.4		9
110 Greene Street	100.0	Soho	Fee Interest	1	16,121	1.2		94.8		77.6		94.8		81.6		86.8		2,569	0.9		1.7		4
125 Park Avenue	100.0	Grand Central	Fee Interest	1	32,124	2.3		97.3		97.3		97.3		97.3		100.0		4,938	1.8		3.2		6
220 East 42nd Street	100.0	Grand Central	Fee Interest	1	35,332	2.6		82.2		82.2		82.2		82.2		85.6		2,260	0.8		1.5		4
304 Park Avenue South	100.0	Midtown South	Fee Interest	1	25,330	1.8		100.0		100.0		100.0		100.0		100.0		3,616	1.3		2.4		5
420 Lexington Ave (Graybar)	100.0	Grand Central North	Leasehold Interest	1	45,263	3.3		100.0		90.3		90.3		90.3		90.3		5,613	2.0		3.7		6
461 Fifth Avenue	100.0	Midtown	Fee Interest	1	17,114	1.2		15.9		15.9		15.9		15.9		100.0		865	0.3		0.6		1
485 Lexington Avenue	100.0	Grand Central North	Fee Interest	1	41,701	3.0		100.0		100.0		100.0		100.0		100.0		6,063	2.2		4.0		8
555 West 57th Street	100.0	Midtown West	Fee Interest	1	60,389	4.4		100.0		99.7		100.0		100.0		100.0		2,300	0.8		1.5		2
590 Fifth Avenue	100.0	Midtown	Fee Interest	1	7,263	0.5		70.0		70.0		100.0		N/A		N/A		1,870	0.7		1.2		1
625 Madison Avenue (1)	100.0	Plaza District	Leasehold Interest	1	78,489	5.7		79.0		87.7		93.5		93.5		94.8		13,111	4.7		8.6		15
711 Third Avenue	100.0	Grand Central North	Leasehold Interest	1	25,639	1.9		100.0		100.0		100.0		100.0		100.0		3,257	1.2		2.1		3
750 Third Avenue (1)	100.0	Grand Central North	Fee Interest	1	24,827	1.8		53.2		53.2		66.7		66.7		72.3		1,777	0.6		1.2		4
810 Seventh Avenue	100.0	Times Square	Fee Interest	1	18,207	1.3		98.6		98.6		98.6		100.0		100.0		4,394	1.6		2.9		3
885 Third Avenue	100.0	Midtown / Plaza District	Fee / Leasehold Interest	1	12,403	0.9		97.4		97.4		97.4		97.4		N/A		670	0.2		0.4		2
1080 Amsterdam	92.5	Upper West Side	Leasehold Interest	1	1,800	0.1		100.0		100.0		100.0		100.0		100.0		310	0.1		0.2		1
1185 Avenue of the Americas	100.0	Rockefeller Center	Leasehold Interest	1	37,326	2.7		100.0		100.0		100.0		100.0		77.7		6,912	2.6		4.6		5
1350 Avenue of the Americas	100.0	Rockefeller Center	Fee Interest	1	17,797	1.3		100.0		62.6		62.6		62.6		62.6		2,635	0.9		1.7		5
Subtotal / Weighted Average				18	558,833	40.6	%	90.5	%	89.2	%	91.5	%	91.1	%	90.9	%	$66,770	24.0	%	43.9	%	84

Supplemental Information 32 Second Quarter 2021

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

	Ownership			# of	Usable		% of Total		Occupancy % (Commenced Leases)										Annualized Contractual Retail Cash Rent ($'s)	Annualized Contractual Retail Cash Rent				Total Tenants
Properties	Interest (%)	SubMarket	Ownership	Bldgs	Sq. Feet		Sq. Feet		Jun-21		Mar-21		Dec-20		Sep-20		Jun-20			100%		SLG
OTHER RETAIL - Unconsolidated Properties
2 Herald Square	51.0	Herald Square	Leasehold Interest	1	94,531		6.9		83.2		83.2		83.2		83.2		83.2		$21,415	7.7		7.2		3
10 East 53rd Street	55.0	Plaza District	Fee Interest	1	39,340		2.9		100.0		100.0		100.0		100.0		100.0		3,625	1.3		1.3		3
11 Madison Avenue	60.0	Park Avenue South	Fee Interest	1	38,800		2.8		98.9		98.9		98.9		98.9		98.9		3,449	1.2		1.4		6
100 Park Avenue	50.0	Grand Central South	Fee Interest	1	40,022		2.9		100.0		100.0		100.0		100.0		100.0		3,622	1.3		1.2		8
280 Park Avenue	50.0	Park Avenue	Fee Interest	1	27,896		2.0		100.0		100.0		100.0		100.0		100.0		1,630	0.6		0.5		3
400 East 57th Street	41.0	Upper East Side	Fee Interest	1	9,717		0.7		66.6		66.6		66.6		66.6		66.6		1,372	0.5		0.4		8
800 Third Avenue	60.5	Grand Central North	Fee Interest	1	9,900		0.7		100.0		100.0		100.0		100.0		100.0		1,922	0.7		0.8		2
919 Third Avenue	51.0	Grand Central North	Fee Interest	1	31,004		2.3		98.9		98.9		98.9		98.9		100.0		3,498	1.3		1.2		4
1515 Broadway	57.0	Times Square	Fee Interest	1	185,956		13.4		100.0		100.0		100.0		100.0		100.0		34,599	12.3		12.9		9
World Wide Plaza	25.0	Westside	Fee Interest	1	10,592	(2)	0.8		93.6		93.6		100.0		100.0		100.0		1,355	0.5		0.2		7
Stonehenge Portfolio	Various	Various	Fee Interest	2	19,231		1.4		42.4		49.5		76.8		76.8		76.8		767	0.3		—		3
Subtotal / Weighted Average				12	506,989		36.8	%	93.8	%	94.0	%	95.2	%	95.2	%	97.7	%	$77,254	27.7	%	27.1	%	56
Total / Weighted Average Other Retail				30	1,065,822		77.4	%	92.0	%	91.5	%	93.3	%	93.0	%	94.1	%	$144,023	51.7	%	70.9	%	140
Retail Grand Total / Weighted Average				40	1,377,858		100.0	%	91.7	%	92.2	%	93.6	%	93.3	%	94.2	%	$278,667	100.0	%			155
Retail Grand Total - SLG share of Annualized Rent																			$152,149			100.0	%
(1) Development / Redevelopment properties.
(2) Excludes the theater, parking garage, fitness gym and other amenity space totaling 241,371 square feet.

Supplemental Information 33 Second Quarter 2021

LARGEST TENANTS BY SLG SHARE OF ANNUALIZED CASH RENT Manhattan, Suburban, Retail, Residential and Development / Redevelopment Properties Unaudited (Dollars in Thousands Except Per SF)

		Ownership Interest %	Lease Expiration	Total Rentable Square Feet	Annualized Contractual Cash Rent ($)	SLG Share of Annualized Contractual Cash Rent ($)	% of SLG Share of Annualized Contractual Cash Rent (1)	Annualized Contractual Rent PSF		Credit Rating (2)
Tenant Name	Property
ViacomCBS Inc.	1515 Broadway	57.0	Jun 2031	1,603,126	$105,400	$60,079	4.6%	$65.75
	1515 Broadway	57.0	Mar 2028	9,106	2,013	1,147	0.1%	221.01
	555 West 57th Street	100.0	Dec 2023	338,527	17,402	17,402	1.3%	51.41
	Worldwide Plaza	25.0	Jan 2027	32,598	2,278	568	—%	69.89
				1,983,357	$127,093	$79,196	6.0%	$64.08		BBB
Credit Suisse Securities (USA), Inc.	11 Madison Avenue	60.0	May 2037	1,265,841	$80,194	$48,118	3.7%	$63.35		A+
Latham & Watkins LLP	885 Third Avenue	100.0	Jun 2021	408,559	$36,451	$36,451	2.8%	$89.22
Sony Corporation	11 Madison Avenue	60.0	Jan 2031	578,791	$49,021	$29,412	2.2%	$84.69		A-
TD Bank US Holding Company	One Vanderbilt Avenue	71.0	Jul 2041	199,860	$27,796	$19,735	1.5%	$139.08	(3)
	125 Park Avenue	100.0	Oct 2030	51,707	3,382	3,382	0.3%	65.40
	125 Park Avenue	100.0	Aug 2030	6,234	2,538	2,538	0.2%	407.13
				257,801	$33,716	$25,655	2.0%	$130.78		AA-
Debevoise & Plimpton, LLP	919 Third Avenue	51.0	Dec 2022	625,140	$47,876	$24,417	1.9%	$76.58
The City of New York	100 Church Street	100.0	Mar 2034	510,007	$21,102	$21,102	1.6%	$41.38		Aa2
King & Spalding	1185 Avenue of the Americas	100.0	Oct 2025	218,275	$20,970	$20,970	1.6%	$96.07
Metro-North Commuter Railroad Company	420 Lexington Avenue	100.0	Nov 2034	344,873	$20,087	$20,087	1.5%	$58.25	(3)
	420 Lexington Avenue	100.0	Sep 2021	7,537	507	507	—%	67.23
	110 East 42nd Street	100.0	Oct 2021	1,840	127	127	—%	68.89
				354,250	$20,721	$20,721	1.6%	$58.49		Baa3
Visiting Nurse Service of New York	220 East 42nd Street	100.0	Sep 2048	308,115	$19,094	$19,094	1.5%	$61.97	(3)
WME IMG, LLC	304 Park Avenue	100.0	Apr 2028	174,069	$12,807	$12,807	1.0%	$73.57
	11 Madison Avenue	60.0	Sep 2030	104,618	9,817	5,890	0.4%	93.84
				278,687	$22,624	$18,697	1.4%	$81.18
Nike Retail Services, Inc.	650 Fifth Avenue	50.0	Jan 2033	69,214	$36,868	$18,434	1.4%	$532.66		AA-
Bloomberg L.P.	919 Third Avenue	51.0	Feb 2029	557,208	$34,846	$17,771	1.4%	$62.54
Cravath, Swaine & Moore LLP	Worldwide Plaza	25.0	Aug 2024	617,135	$68,041	$16,976	1.3%	$110.25
McDermott Will & Emery LLP	One Vanderbilt Avenue	71.0	Jan 2043	146,642	$23,308	$16,549	1.3%	$158.95
Cardinia Real Estate LLC	220 East 42nd Street	100.0	Apr 2032	231,114	$14,959	$14,959	1.1%	$64.72
	280 Park Avenue	50.0	Mar 2031	27,761	2,494	1,247	0.1%	89.86
				258,875	$17,453	$16,206	1.2%	$67.42		BBB+
National Hockey League	1185 Avenue of the Americas	100.0	Nov 2022	148,217	$15,820	$15,820	1.2%	$106.73
WeWork	609 Fifth Avenue	100.0	Apr 2036	138,563	$10,551	$10,550	0.8%	$76.14	(3)
	2 Herald Square	51.0	Feb 2036	153,061	8,972	4,576	0.3%	58.62
				291,624	$19,523	$15,126	1.1%	$66.94
Carlyle Investment Management LLC	One Vanderbilt Avenue	71.0	Sep 2036	160,778	$22,398	$15,902	1.2%	$139.31		BBB-
Amerada Hess Corp.	1185 Avenue of the Americas	100.0	Dec 2027	167,169	$15,501	$15,501	1.2%	$92.73	(3)	BBB+
Total				9,205,685	$732,620	$492,118	37.7%	$79.58
(1) SLG Share of Annualized Cash Rent includes Manhattan, Suburban, Retail, Residential, and Development / Redevelopment properties.
(2) Corporate or bond rating from S&P or Moody's.
(3) Tenant pays rent on a net basis. Rent PSF reflects gross equivalent.

Supplemental Information 34 Second Quarter 2021

TENANT DIVERSIFICATION Manhattan Operating, Retail and Development/Redevelopment Properties Unaudited

Supplemental Information 35 Second Quarter 2021

LEASING ACTIVITY - MANHATTAN OPERATING PROPERTIES Available Space Unaudited

Activity	Building Address	# of Leases	Usable SF	Rentable SF	Escalated Rent/Rentable SF ($'s)(1)
Available Space at 3/31/21			1,414,540
Space which became available during the Quarter (2):
Office
	10 East 53rd Street	3	19,184	22,137	$104.15
	110 East 42nd Street	2	3,869	3,975	57.83
	110 Greene Street	3	6,865	6,797	58.27
	280 Park Avenue	1	8,600	8,600	90.01
	420 Lexington Avenue	18	55,009	67,210	60.98
	711 Third Avenue	1	27,297	32,826	62.00
	800 Third Avenue	2	5,607	5,683	82.00
	810 Seventh Avenue	3	30,971	31,809	66.95
	885 Third Avenue	1	13,854	13,854	96.73
	1350 Avenue of the Americas	1	9,934	10,168	87.62
	Total/Weighted Average	35	181,190	203,059	$72.22
Retail
	1350 Avenue of the Americas	1	240	240	$80.82
	World Wide Plaza	1	1,144	1,100	226.36
	Total/Weighted Average	2	1,384	1,340	$200.29
	Total Space which became available during the quarter
	Office	35	181,190	203,059	$72.22
	Retail	2	1,384	1,340	$200.29
		37	182,574	204,399	$73.06
	Total Available Space		1,597,114
(1) Escalated cash rent includes base rent plus all additional amounts paid by the tenant in the form of real estate taxes, operating expenses, porters wage or a consumer price index (CPI) adjustment, excluding concessions.
(2) Includes expiring space, relocating tenants and move-outs where tenants vacated. Excludes lease expirations where tenants heldover.

Supplemental Information 36 Second Quarter 2021

LEASING ACTIVITY - MANHATTAN OPERATING PROPERTIES Commenced Leasing Unaudited

Activity	Building Address	# of Leases	Term (Yrs)	Usable SF	Rentable SF	New Cash Rent / Rentable SF(1)	Prev. Escalated Rent/ Rentable SF(2)	TI / Rentable SF	Free Rent # of Months
Available Space				1,597,114
Office
	10 East 53rd Street	2	5.2	7,625	8,769	$69.42	$92.03	$28.64	8.2
	100 Park Avenue	1	5.7	4,898	5,628	78.00	—	125.80	8.0
	110 East 42nd Street	2	5.0	3,869	3,975	54.20	57.83	4.70	2.2
	110 Greene Street	2	0.4	4,572	4,208	85.00	82.00	—	—
	220 East 42nd Street	1	5.5	2,676	2,657	57.00	70.03	31.28	2.0
	280 Park Avenue	1	10.3	6,812	6,828	91.00	—	145.00	5.0
	304 Park Avenue South	1	3.7	18,962	18,032	65.00	—	40.00	4.5
	420 Lexington Avenue	9	11.4	46,329	56,764	66.16	61.18	39.03	10.0
	800 Third Avenue	1	7.5	2,048	2,112	65.00	—	—	6.0
	1350 Avenue of the Americas	1	10.3	1,691	1,741	74.00	87.60	47.44	4.0
	Total/Weighted Average	21	8.4	99,482	110,714	$68.53	$66.63	$45.80	7.5
Retail
	110 Greene Street	1	10.4	2,602	2,822	$70.87	$159.86	$—	5.0
	420 Lexington Avenue	1	11.0	3,016	3,432	152.97	—	106.35	12.0
	555 West 57th Street	1	5.0	100	210	100.00	197.42	—	—
	1350 Avenue of the Americas	2	15.0	5,444	6,892	44.92	80.82	14.51	3.9
	World Wide Plaza	1	10.3	1,144	1,489	82.87	167.22	—	4.0
	Total/Weighted Average	6	12.6	12,306	14,845	$79.42	$159.83	$31.32	5.9
Storage
	280 Park Avenue	1	10.3	623	623	$40.00	$—	$—	5.0
	Total/Weighted Average	1	10.3	623	623	$40.00	$—	$—	5.0
Leased Space
	Office (3)	21	8.4	99,482	110,714	$68.53	$66.63	$45.80	7.5
	Retail	6	12.6	12,306	14,845	$79.42	$159.83	$31.32	5.9
	Storage	1	10.3	623	623	$40.00	$—	$—	5.0
	Total	28	8.9	112,411	126,182	$69.67	$73.01	$43.87	7.3
Total Available Space as of 6/30/2021				1,484,703
Early Renewals
Office
	10 East 53rd Street	3	2.3	14,599	15,580	$82.25	$97.15	$3.31	2.3
	100 Park Avenue	1	2.1	95,926	103,803	85.00	85.41	—	1.5
	110 Greene Street	1	3.0	1,296	1,296	73.00	94.82	—	6.0
	220 East 42nd Street	1	7.0	5,326	5,549	61.69	61.69	—	4.0
	420 Lexington Avenue	2	3.8	3,589	4,896	59.89	67.91	5.11	0.3
	World Wide Plaza	1	0.3	3,411	3,425	74.67	68.13	—	—
	Total/Weighted Average	9	2.3	124,147	134,549	$82.43	$84.80	$0.57	1.7
Retail
	125 Park Avenue	1	0.8	2,364	2,551	$226.06	$226.06	$—	—
	Total/Weighted Average	1	0.8	2,364	2,551	$226.06	$226.06	$—	—
Storage
	10 East 53rd Street	2	1.4	2,248	2,262	$28.09	$28.09	$—	0.5
	Total/Weighted Average	2	1.4	2,248	2,262	$28.09	$28.09	$—	0.5
Renewals
	Early Renewals Office	9	2.3	124,147	134,549	$82.43	$84.80	$0.57	1.7
	Early Renewals Retail	1	0.8	2,364	2,551	$226.06	$226.06	$—	—
	Early Renewals Storage	2	1.4	2,248	2,262	$28.09	$28.09	$—	0.5
	Total	12	2.3	128,759	139,362	$84.18	$86.47	$0.55	1.6
(1) Annual initial base rent.
(2) Escalated cash rent includes base rent plus all additional amounts paid by the tenant in the form of real estate taxes, operating expenses, porters wage or a consumer price index (CPI) adjustment, excluding concessions.
(3) Average starting office rent excluding new tenants replacing vacancies is $67.01/rsf for 64,792 rentable SF. Average starting office rent for office space (leased and early renewals, excluding new tenants replacing vacancies) is $77.42/rsf for 199,341 rentable SF.

Supplemental Information 37 Second Quarter 2021

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

		Consolidated Properties							Joint Venture Properties
Year of Lease Expiration		Number of Expiring Leases (1)	Rentable Square Footage of Expiring Leases	Percentage of Total Sq. Ft.		Annualized Contractual Cash Rent of Expiring Leases	Annualized Contractual Cash Rent Per Square Foot of Expiring Leases $/psf (2)	Current Weighted Average Asking Rent $/psf (3)	Number of Expiring Leases (1)	Rentable Square Footage of Expiring Leases	Percentage of Total Sq. Ft.		Annualized Contractual Cash Rent of Expiring Leases	Annualized Contractual Cash Rent Per Square Foot of Expiring Leases $/psf (2)	Current Weighted Average Asking Rent $/psf (3)
1st Quarter 2021 (4)		—	—	—	%	$—	$—	$—	—	—	—	%	$—	$—	$—
2nd Quarter 2021 (4)		15	414,924	4.29	%	35,863,850	86.43	80.12	3	41,682	0.39	%	3,007,116	72.14	69.61
3rd Quarter 2021		16	208,684	2.15	%	12,061,599	57.80	60.83	5	74,871	0.69	%	5,409,375	72.25	78.34
4th Quarter 2021		22	79,883	0.82	%	6,162,521	77.14	67.21	5	34,017	0.32	%	2,615,960	76.90	75.26
Total 2021		53	703,491	7.26	%	$54,087,970	$76.89	$72.93	13	150,570	1.40	%	$11,032,451	$73.27	$75.23
2022		93	741,649	7.65	%	$57,946,561	$78.13	$67.88	29	932,901	8.65	%	$83,556,311	$89.57	$87.70
2023		67	814,381	8.40	%	51,361,526	63.07	61.34	17	495,241	4.59	%	45,031,682	90.93	74.84
2024		49	373,378	3.85	%	25,609,911	68.59	65.62	24	977,855	9.07	%	107,288,097	109.72	81.13
2025		54	570,107	5.88	%	48,497,659	85.07	68.18	14	349,909	3.25	%	33,254,962	95.04	84.88
2026		51	858,365	8.85	%	59,401,719	69.20	64.90	26	538,313	4.99	%	55,615,626	103.31	94.76
2027		34	584,325	6.03	%	46,918,539	80.30	67.74	17	340,791	3.16	%	29,966,033	87.93	80.82
2028		30	594,995	6.14	%	43,307,578	72.79	68.45	16	173,841	1.61	%	19,196,009	110.42	94.28
2029		21	411,971	4.25	%	27,840,634	67.58	62.55	10	649,147	6.02	%	43,898,826	67.63	74.72
2030		18	796,319	8.21	%	56,881,968	71.43	69.86	13	387,802	3.60	%	37,374,958	96.38	86.46
Thereafter		64	3,245,384	33.48	%	187,495,383	57.77	58.46	32	5,783,250	53.66	%	394,619,526	68.23	77.73
		534	9,694,365	100.00	%	$659,349,448	$68.01	$64.17	211	10,779,620	100.00	%	$860,834,481	$79.86	$80.31
	(1) Tenants may have multiple leases.
	(2) Represents in place annualized contractual cash rent allocated by year of expiration.
	(3) Management's estimate of average asking rents for currently occupied space as of June 30, 2021. Taking rents are typically lower than asking rents and may vary from property to property.
	(4) Includes month to month holdover tenants that expired prior to June 30, 2021.

Supplemental Information 38 Second Quarter 2021

LEASE EXPIRATIONS Retail Leases Within Operating and Development / Redevelopment Properties Unaudited

		Consolidated Properties							Joint Venture Properties
Year of Lease Expiration		Number of Expiring Leases (1)	Rentable Square Footage of Expiring Leases	Percentage of Total Sq. Ft.		Annualized Contractual Cash Rent of Expiring Leases	Annualized Contractual Cash Rent Per Square Foot of Expiring Leases $/psf (2)	Current Weighted Average Asking Rent $/psf (3)	Number of Expiring Leases (1)	Rentable Square Footage of Expiring Leases	Percentage of Total Sq. Ft.		Annualized Contractual Cash Rent of Expiring Leases	Annualized Contractual Cash Rent Per Square Foot of Expiring Leases $/psf (2)	Current Weighted Average Asking Rent $/psf (3)
High Street Retail
2021 (4)		—	—	—	%	$—	$—	$—	3	17,237	6.36	%	$4,762,490	$276.29	$75.28
2022		—	—	—	%	—	—	—	1	1,698	0.63	%	102,000	60.07	63.07
2023		—	—	—	%	—	—	—	4	57,939	21.37	%	29,704,821	512.69	297.16
2024		—	—	—	%	—	—	—	1	7,793	2.87	%	5,771,916	740.65	1,026.56
2025		—	—	—	%	—	—	—	—	—	—	%	—	—	—
2026		—	—	—	%	—	—	—	4	74,424	27.46	%	32,232,480	433.09	282.98
2027		—	—	—	%	—	—	—	1	3,655	1.35	%	802,524	219.57	102.98
2028		—	—	—	%	—	—	—	—	—	—	%	—	—	—
2029		—	—	—	%	—	—	—	1	31,174	11.50	%	22,338,735	716.58	375.97
2030		—	—	—	%	—	—	—	—	—	—	%	—	—	—
Thereafter		—	—	—	%	—	—	—	2	77,154	28.46	%	38,928,816	504.56	488.27
		—	—	—	%	$—	$—	$—	17	271,074	100.00	%	$134,643,782	$496.70	$359.50
Vacancy (5)			10,040					268.92		12,946					162.21
			10,040					$268.92		284,020					$350.51
Other Retail
2021 (4)		2	7,064	1.38	%	$1,026,735	$145.35	$75.01	3	3,818	0.81	%	$404,231	$105.88	$93.06
2022		15	72,316	14.12	%	14,497,985	200.48	163.59	8	85,454	18.10	%	21,159,659	247.61	228.37
2023		5	32,043	6.25	%	5,141,088	160.44	108.85	4	13,896	2.94	%	2,123,130	152.79	132.60
2024		5	12,367	2.41	%	1,895,969	153.31	148.52	5	8,733	1.85	%	3,076,112	352.24	290.85
2025		4	29,597	5.77	%	4,534,570	153.21	100.72	1	616	0.13	%	188,171	305.47	120.00
2026		7	12,268	2.39	%	1,323,535	107.89	89.81	3	19,363	4.10	%	9,959,545	514.36	440.79
2027		5	28,652	5.59	%	4,042,345	141.08	104.05	6	23,800	5.04	%	11,164,675	469.10	395.49
2028		7	19,643	3.83	%	3,007,285	153.10	116.78	6	29,276	6.20	%	4,394,226	150.10	146.82
2029		4	26,263	5.12	%	1,647,502	62.73	74.28	7	65,562	13.88	%	4,721,878	72.02	80.32
2030		9	62,829	12.26	%	12,202,688	194.22	164.36	6	29,218	6.19	%	12,566,700	430.10	349.84
Thereafter		21	209,564	40.88	%	17,449,929	83.27	64.21	7	192,470	40.76	%	7,495,199	38.94	42.74
		84	512,606	100.00	%	$66,769,631	$130.26	$102.95	56	472,206	100.00	%	$77,253,526	$163.60	$145.85
Vacancy (5)			52,205					161.04		30,755					128.17
			564,811					$108.32		502,961					$147.58
	(1) Tenants may have multiple leases.
	(2) Represents in place annualized contractual cash rent allocated by year of expiration.
	(3) Management's estimate of average asking rents for currently occupied space as of June 30, 2021. Taking rents are typically lower than asking rents and may vary from property to property.
	(4) Includes month to month holdover tenants that expired prior to June 30, 2021.
	(5) Includes square footage of leases signed but not yet commenced.

Supplemental Information 39 Second Quarter 2021

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

						Gross Asset		Occupancy (%)
	Property	Submarket	Interest Acquired	Type of Ownership	Net Rentable SF	Valuation ($'s)		at acquisition	6/30/2021
2001 - 2020 Acquisitions
Jun-01	317 Madison Avenue	Grand Central	100.0%	Fee Interest	450,000	$	105,600	95.0	N/A
Sep-01	1250 Broadway	Penn Station	49.9	Fee Interest	670,000	126,500		97.7	N/A
May-02	1515 Broadway	Times Square	55.0	Fee Interest	1,750,000	483,500		98.0	99.9
Feb-03	220 East 42nd Street	Grand Central	100.0	Fee Interest	1,135,000	265,000		91.9	94.3
Mar-03	125 Broad Street	Downtown	100.0	Fee Interest	525,000	92,000		100.0	N/A
Oct-03	461 Fifth Avenue	Midtown	100.0	Leasehold Interest	200,000	60,900		93.9	86.2
Dec-03	1221 Avenue of the Americas	Rockefeller Center	45.0	Fee Interest	2,550,000	1,000,000		98.8	N/A
Mar-04	19 West 44th Street	Midtown	35.0	Fee Interest	292,000	67,000		86.0	N/A
Jul-04	750 Third Avenue	Grand Central	100.0	Fee Interest	779,000	255,000		100.0	—
Jul-04	485 Lexington Avenue	Grand Central	30.0	Fee Interest	921,000	225,000		100.0	85.9
Oct-04	625 Madison Avenue	Plaza District	100.0	Leasehold Interest	563,000	231,500		68.0	25.2
Feb-05	28 West 44th Street	Midtown	100.0	Fee Interest	359,000	105,000		87.0	N/A
Apr-05	1 Madison Avenue	Park Avenue South	55.0	Fee Interest	1,177,000	803,000		96.0	—
Apr-05	5 Madison Avenue Clock Tower	Park Avenue South	100.0	Fee Interest	267,000	115,000		N/A	N/A
Jun-05	19 West 44th Street	Midtown	65.0	Fee Interest	—	91,200		92.2	N/A
Mar-06	521 Fifth Avenue	Midtown	100.0	Leasehold Interest	460,000	210,000		97.0	N/A
Jun-06	609 Fifth Avenue	Midtown	100.0	Fee Interest	160,000	182,000		98.5	100.0
Dec-06	485 Lexington Avenue	Grand Central	70.0	Fee Interest	—	578,000		90.5	85.9
Dec-06	800 Third Avenue	Grand Central North	43.0	Fee Interest	526,000	285,000		96.9	92.2
Jan-07	Reckson - NYC Portfolio	Various	100.0	Fee Interests / Leasehold Interest	5,612,000	3,679,530		98.3	87.9
Apr-07	331 Madison Avenue	Grand Central	100.0	Fee Interest	114,900	73,000		97.6	N/A
Apr-07	1745 Broadway	Midtown	32.3	Leasehold Interest	674,000	520,000		100.0	N/A
Jun-07	333 West 34th Street	Penn Station	100.0	Fee Interest	345,400	183,000		100.0	N/A
Aug-07	1 Madison Avenue	Park Avenue South	45.0	Fee Interest	1,177,000	1,000,000		99.8	—
Dec-07	388 & 390 Greenwich Street	Downtown	50.6	Fee Interest	2,635,000	1,575,000		100.0	N/A
Jan-10	100 Church Street	Downtown	100.0	Fee Interest	1,047,500	181,600		41.3	99.3
May-10	600 Lexington Avenue	Grand Central North	55.0	Fee Interest	303,515	193,000		93.6	N/A
Aug-10	125 Park Avenue	Grand Central	100.0	Fee Interest	604,245	330,000		99.1	99.6
Jan-11	521 Fifth Avenue	Midtown	49.9	Leasehold Interest	460,000	245,700		80.7	N/A
Apr-11	1515 Broadway	Times Square	45.0	Fee Interest	1,750,000	1,210,000		98.5	99.9
May-11	110 East 42nd Street	Grand Central	100.0	Fee Interest	205,000	85,570		72.6	88.9
May-11	280 Park Avenue	Park Avenue	49.5	Fee Interest	1,219,158	1,110,000		78.2	94.2
Nov-11	180 Maiden Lane	Financial East	49.9	Fee Interest	1,090,000	425,680		97.7	N/A
Nov-11	51 East 42nd Street	Grand Central	100.0	Fee Interest	142,000	80,000		95.5	N/A
Feb-12	10 East 53rd Street	Plaza District	55.0	Fee Interest	354,300	252,500		91.9	87.7
Jun-12	304 Park Avenue South	Midtown South	100.0	Fee Interest	215,000	135,000		95.8	100.0
Sep-12	641 Sixth Avenue	Midtown South	100.0	Fee Interest	163,000	90,000		92.1	—
Dec-12	315 West 36th Street	Times Square South	35.5	Fee Interest	147,619	46,000		99.2	N/A
May-14	388 & 390 Greenwich Street	Downtown	49.4	Fee Interest	2,635,000	1,585,000		100.0	N/A
Jul-15	110 Greene Street	Soho	90.0	Fee Interest	223,600	255,000		84.0	76.9
Aug-15	30 East 40th Street	Grand Central South	60.0	Leasehold Interest	69,446	4,650		100.0	N/A
Aug-15	11 Madison Avenue	Park Avenue South	100.0	Fee Interest	2,314,000	2,285,000		71.6	100.0
Dec-15	600 Lexington Avenue	Grand Central North	45.0	Fee Interest	303,515	284,000		95.5	N/A
Oct-17	Worldwide Plaza	Westside	24.4	Fee Interest	2,048,725	1,725,000		100.0	97.7
May-18	2 Herald Square	Herald Square	100.0	Leasehold Interest	369,000	266,000		81.6	95.8
May-19	110 Greene Street	Soho	10.0	Fee Interest	223,600	256,500		93.3	76.9
Jul-20	885 Third Avenue	Midtown / Plaza District	100.0	Fee / Leasehold Interest	625,300	387,932		94.8	84.6
Oct-20	590 Fifth Avenue	Midtown	100.0	Fee Interest	103,300	107,200		90.0	66.3
					39,959,123	$	23,853,062

Supplemental Information 40 Second Quarter 2021

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

							Gross Asset Valuation
	Property	Submarket	Interest Sold	Type of Ownership	Net Rentable SF		($'s)			($'s/SF)
2001 - 2020 Dispositions
Jan-01	633 Third Ave	Grand Central North	100.0%	Fee Interest		40,623		$	13,250		$	326
May-01	1 Park Ave	Grand Central South	45.0	Fee Interest		913,000		233,900			256
Jun-01	1412 Broadway	Times Square South	100.0	Fee Interest		389,000		90,700			233
Jul-01	110 East 42nd Street	Grand Central	100.0	Fee Interest		69,700		14,500			208
Sep-01	1250 Broadway	Penn Station	45.0	Fee Interest		670,000		126,500			189
Jun-02	469 Seventh Avenue	Penn Station	100.0	Fee Interest		253,000		53,100			210
Mar-03	50 West 23rd Street	Chelsea	100.0	Fee Interest		333,000		66,000			198
Jul-03	1370 Broadway	Times Square South	100.0	Fee Interest		255,000		58,500			229
Dec-03	321 West 44th Street	Times Square	100.0	Fee Interest		203,000		35,000			172
May-04	1 Park Avenue	Grand Central South	75.0	Fee Interest		913,000		318,500			349
Oct-04	17 Battery Place North	Financial	100.0	Fee Interest		419,000		70,000			167
Nov-04	1466 Broadway	Times Square	100.0	Fee Interest		289,000		160,000			554
Apr-05	1414 Avenue of the Americas	Plaza District	100.0	Fee Interest		111,000		60,500			545
Aug-05	180 Madison Avenue	Grand Central	100.0	Fee Interest		265,000		92,700			350
Jul-06	286 & 290 Madison Avenue	Grand Central	100.0	Fee Interest		149,000		63,000			423
Aug-06	1140 Avenue of the Americas	Rockefeller Center	100.0	Leasehold Interest		191,000		97,500			510
Dec-06	521 Fifth Avenue	Midtown	50.0	Leasehold Interest		460,000		240,000			522
Mar-07	1 Park Avenue	Grand Central South	100.0	Fee Interest		913,000		550,000			602
Mar-07	70 West 36th Street	Garment	100.0	Fee Interest		151,000		61,500			407
Jun-07	110 East 42nd Street	Grand Central North	100.0	Fee Interest		181,000		111,500			616
Jun-07	125 Broad Street	Downtown	100.0	Fee Interest		525,000		273,000			520
Jun-07	5 Madison Clock Tower	Park Avenue South	100.0	Fee Interest		267,000		200,000			749
Jul-07	292 Madison Avenue	Grand Central South	100.0	Fee Interest		187,000		140,000			749
Jul-07	1372 Broadway	Penn Station/Garment	85.0	Fee Interest		508,000		335,000			659
Nov-07	470 Park Avenue South	Park Avenue South/Flatiron	100.0	Fee Interest		260,000		157,000			604
Jan-08	440 Ninth Avenue	Penn Station	100.0	Fee Interest		339,000		160,000			472
May-08	1250 Broadway	Penn Station	100.0	Fee Interest		670,000		310,000			463
Oct-08	1372 Broadway	Penn Station/Garment	15.0	Fee Interest		508,000		274,000			539
May-10	1221 Avenue of the Americas	Rockefeller Center	45.0	Fee Interest		2,550,000		1,280,000			502
Sep-10	19 West 44th Street	Midtown	100.0	Fee Interest		292,000		123,150			422
May-11	28 West 44th Street	Midtown	100.0	Fee Interest		359,000		161,000			448
Aug-13	333 West 34th Street	Penn Station	100.0	Fee Interest		345,400		220,250			638
May-14	673 First Avenue	Grand Central South	100.0	Leasehold Interest		422,000		145,000			344
Sep-15	120 West 45th Street	Midtown	100.0	Fee Interest		440,000		365,000			830
Sep-15	315 West 36th Street	Times Square South	100.0	Fee Interest		148,000		115,000			777
Jun-16	388 & 390 Greenwich Street	Downtown	100.0	Fee Interest		2,635,000		2,000,000			759
Aug-16	11 Madison Avenue	Park Avenue South	40.0	Fee Interest		2,314,000		2,600,000			1,124
Nov-17	1515 Broadway	Times Square	30.0	Fee Interest		1,750,000		1,950,000			1,114
Jan-18	600 Lexington Avenue	Grand Central North	100.0	Fee Interest		303,515		305,000			1,005
Feb-18	1515 Broadway	Times Square	13.0	Fee Interest		1,750,000		1,950,000			1,114
May-18	1745 Broadway	Midtown	56.9	Leasehold Interest		674,000		633,000			939
Nov-18	3 Columbus Circle	Columbus Circle	48.9	Fee Interest		530,981		851,000			1,603
Nov-18	2 Herald Square	Herald Square	49.0	Leasehold Interest		369,000		265,000			718
May-19	521 Fifth Avenue	Grand Central	50.5	Fee Interest		460,000		381,000			828
Dec-20	30 East 40th Street	Grand Central South	60.0	Leasehold Interest		69,446		5,200			75
						25,844,665		$	17,715,250		$	685
2021 Dispositions
Mar-21	55 West 46th Street - Tower 46	Midtown	25.0%	Fee Interest		347,000		$	275,000		$	793
Jun-21	635 - 641 Sixth Avenue	Midtown South	100.0	Fee Interest		267,000		325,000			1,217
						614,000		$	600,000		$	977

Supplemental Information 41 Second Quarter 2021

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

							Gross Asset		Occupancy (%)
	Property	Submarket	Interest Acquired	Type of Ownership	Net Rentable SF		Valuation ($'s)		at acquisition
2007 - 2020 Acquisitions
Jan-07	300 Main Street	Stamford, Connecticut	100.0%	Fee Interest		130,000	$	15,000	92.5
Jan-07	399 Knollwood Road	White Plains, New York	100.0	Fee Interest		145,000	31,600		96.6
Jan-07	Reckson - Connecticut Portfolio	Stamford, Connecticut	100.0	Fee Interests / Leasehold Interest		1,369,800	490,750		88.9
Jan-07	Reckson - Westchester Portfolio	Westchester	100.0	Fee Interests / Leasehold Interest		2,346,100	570,190		90.6
Apr-07	Jericho Plazas	Jericho, New York	20.3	Fee Interest		640,000	210,000		98.4
Jun-07	1010 Washington Boulevard	Stamford, Connecticut	100.0	Fee Interest		143,400	38,000		95.6
Jun-07	500 West Putnam Avenue	Greenwich, Connecticut	100.0	Fee Interest		121,500	56,000		94.4
Jul-07	16 Court Street	Brooklyn, New York	35.0	Fee Interest		317,600	107,500		80.6
Aug-07	150 Grand Street	White Plains, New York	100.0	Fee Interest		85,000	6,700		52.9
Sep-07	The Meadows	Rutherford, New Jersey	25.0	Fee Interest		582,100	111,500		81.3
Apr-13	16 Court Street	Brooklyn, New York	49.0	Fee Interest		317,600	96,200		84.9
						6,198,100	$	1,733,440
							Gross Asset
	Property	Submarket	Interest Sold	Type of Ownership	Net Rentable SF		Valuation ($'s)		Price ($'s/SF)
2008 - 2020 Dispositions
Oct-08	100 & 120 White Plains Road	Tarrytown, New York	100.0%	Fee Interest		211,000	$	48,000	$	227
Jan-09	55 Corporate Drive	Bridgewater, New Jersey	100.0	Fee Interest		670,000	230,000		343
Aug-09	399 Knollwood Road	White Plains, New York	100.0	Fee Interest		145,000	20,767		143
Jul-12	One Court Square	Long Island City, New York	100.0	Fee Interest		1,402,000	481,100		343
Sep-13	300 Main Street	Stamford, Connecticut	100.0	Fee Interest		130,000	13,500		104
Aug-15	The Meadows	Rutherford, New Jersey	100.0	Fee Interest		582,100	121,100		208
Dec-15	140 Grand Street	White Plains, New York	100.0	Fee Interest		130,100	22,400		172
Dec-15	150 Grand Street	White Plains, New York	100.0	Fee Interest		85,000	9,600		113
Mar-16	7 Renaissance Square	White Plains, New York	100.0	Fee Interest		65,641	21,000		320
Jul-16	500 West Putnam Avenue	Greenwich, Connecticut	100.0	Fee Interest		121,500	41,000		337
Apr-17	520 White Plains Road	Tarrytown, New York	100.0	Fee Interest		180,000	21,000		117
Jul-17	680 Washington Avenue	Stamford, Connecticut	51.0	Fee Interest		133,000	42,011		316
Jul-17	750 Washington Avenue	Stamford, Connecticut	51.0	Fee Interest		192,000	53,745		280
Oct-17	16 Court Street	Brooklyn, New York	100.0	Fee Interest		317,600	171,000		538
Oct-17	125 Chubb Way	Lyndhurst, New Jersey	100.0	Fee Interest		278,000	29,500		106
May-18	115-117 Stevens Avenue	Valhalla, New York	100.0	Fee Interest		178,000	12,000		67
Jun-18	Jericho Plaza	Jericho, New York	11.7	Fee Interest		640,000	117,400		183
Jul-18	1-6 International Drive	Rye Brook, New York	100.0	Fee Interest		540,000	55,000		102
Nov-19	1010 Washington Boulevard	Stamford, Connecticut	100.0	Fee Interest		143,400	23,100		161
Dec-19	100 Summit Lake Drive	Valhalla, New York	100.0	Fee Interest		250,000	41,581		166
Dec-19	200 Summit Lake Drive	Valhalla, New York	100.0	Fee Interest		245,000	37,943		155
Dec-19	500 Summit Lake Drive	Valhalla, New York	100.0	Fee Interest		228,000	34,185		150
Dec-19	360 Hamilton Avenue	White Plains, New York	100.0	Fee Interest		384,000	115,452		301
Dec-20	1055 Washington Boulevard	Stamford, Connecticut	100.0	Leasehold Interest		182,000	23,750		130
						7,433,341	$	1,786,134	$	240

Supplemental Information 42 Second Quarter 2021

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

						Gross Asset		Occupancy (%)
	Property	Submarket	Interest Acquired	Type of Ownership	Net Rentable SF	Valuation ($'s)		at acquisition	6/30/2021
2005 - 2020 Acquisitions
Jul-05	1551-1555 Broadway	Times Square	10.0%	Fee Interest	25,600	$	85,000	N/A	N/A
Jul-05	21 West 34th Street	Herald Square	50.0	Fee Interest	30,100	17,500		N/A	N/A
Sep-05	141 Fifth Avenue	Flatiron	50.0	Fee Interest	21,500	13,250		N/A	N/A
Nov-05	1604 Broadway	Times Square	63.0	Leasehold Interest	29,876	4,400		17.2	N/A
Dec-05	379 West Broadway	Cast Iron/Soho	45.0	Leasehold Interest	62,006	19,750		100.0	N/A
Jan-06	25-29 West 34th Street	Herald Square/Penn Station	50.0	Fee Interest	41,000	30,000		55.8	N/A
Sep-06	717 Fifth Avenue	Midtown/Plaza District	32.8	Fee Interest	119,550	251,900		63.1	100.0
Aug-07	180 Broadway	Lower Manhattan	50.0	Fee Interest	24,300	13,600		85.2	N/A
Apr-07	Two Herald Square	Herald Square	55.0	Fee Interest	N/A	225,000		N/A	N/A
Jul-07	885 Third Avenue	Midtown / Plaza District	55.0	Fee Interest	N/A	317,000		N/A	N/A
Jan-08	125 Chubb Way	Lyndhurst, New Jersey	100.0	Fee Interest	278,000	29,364		—	N/A
Feb-08	182 Broadway	Lower Manhattan	50.0	Fee Interest	46,280	30,000		83.8	N/A
Nov-10	Williamsburg Terrace	Brooklyn, New York	100.0	Fee Interest	52,000	18,000		100.0	N/A
Dec-10	11 West 34th Street	Herald Square/Penn Station	30.0	Fee Interest	17,150	10,800		100.0	100.0
Dec-10	7 Renaissance Square	White Plains, New York	50.0	Fee Interest	65,641	4,000		—	N/A
Dec-10	2 Herald Square	Herald Square	45.0	Fee Interest	354,400	247,500		100.0	N/A
Dec-10	885 Third Avenue	Midtown / Plaza District	45.0	Fee Interest	607,000	352,000		100.0	N/A
Dec-10	292 Madison Avenue	Grand Central South	100.0	Fee Interest	203,800	78,300		N/A	N/A
Jan-11	3 Columbus Circle	Columbus Circle	48.9	Fee Interest	741,500	500,000		20.1	N/A
Aug-11	1552-1560 Broadway	Times Square	50.0	Fee Interest	35,897	136,550		59.7	88.3
Sep-11	747 Madison Avenue	Plaza District	33.3	Fee Interest	10,000	66,250		100.0	N/A
Jan-12	DFR Residential and Retail Portfolio	Plaza District, Upper East Side	80.0	Fee Interests / Leasehold Interest	489,882	193,000		95.1	61.1
Jan-12	724 Fifth Avenue	Plaza District	50.0	Fee Interest	65,010	223,000		92.9	N/A
Jul-12	West Coast Office Portfolio		27.6	Fee Interest	4,473,603	880,104		76.3	N/A
Aug-12	33 Beekman Street	Downtown	45.9	Fee Interest	163,500	31,160		—	N/A
Sep-12	635 Sixth Avenue	Midtown South	100.0	Fee Interest	104,000	83,000		—	100.0
Oct-12	1080 Amsterdam	Upper West Side	87.5	Leasehold Interest	82,250	—		2.2	40.6
Dec-12	21 East 66th Street	Plaza District	32.3	Fee Interest	16,736	75,000		100.0	100.0
Dec-12	985-987 Third Avenue	Upper East Side	100.0	Fee Interest	13,678	18,000		—	N/A
Dec-12	131-137 Spring Street	Soho	100.0	Fee Interest	68,342	122,300		100.0	N/A
Mar-13	248-252 Bedford Avenue	Brooklyn, New York	90.0	Fee Interest	66,611	54,900		—	N/A
Nov-13	650 Fifth Avenue	Plaza District	50.0	Leasehold Interest	32,324	—		63.6	100.0
Nov-13	315 West 33rd Street - The Olivia	Penn Station	100.0	Fee Interest	492,987	386,775		96.6	N/A
Nov-13	562, 570 & 574 Fifth Avenue	Plaza District	100.0	Fee Interest	66,962	146,222		74.6	N/A
Jul-14	719 Seventh Avenue	Times Square	75.0	Fee Interest	6,000	41,149		100.0	—
Jul-14	115 Spring Street	Soho	100.0	Fee Interest	5,218	52,000		100.0	100.0
Jul-14	752-760 Madison Avenue	Plaza District	100.0	Fee Interest	21,124	282,415		100.0	—
Sep-14	121 Greene Street	Soho	50.0	Fee Interest	7,131	27,400		100.0	100.0
Sep-14	635 Madison Avenue	Plaza District	100.0	Fee Interest	176,530	145,000		100.0	N/A
Oct-14	102 Greene Street	Soho	100.0	Fee Interest	9,200	32,250		100.0	N/A
Oct-14	175-225 Third Street	Brooklyn, New York	95.0	Fee Interest	—	72,500		—	N/A
Nov-14	55 West 46th Street - Tower 46	Midtown	100.0	Fee Interest	347,000	295,000		—	N/A
Feb-15	Stonehenge Portfolio	Various	Various	Fee Interest	2,589,184	40,000		96.5	81.2
Mar-15	1640 Flatbush Avenue	Brooklyn, New York	100.0	Fee Interest	1,000	6,799		100.0	N/A
Jun-15	Upper East Side Residential	Upper East Side Residential	90.0	Fee Interest	27,000	50,074		96.4	N/A
Aug-15	187 Broadway & 5-7 Dey Street	Lower Manhattan	100.0	Fee Interest	73,600	63,690		90.5	—
Mar-16	183 Broadway	Lower Manhattan	100.0	Fee Interest	9,100	28,500		58.3	—
Apr-16	605 West 42nd Street - Sky	Midtown West	20.0	Fee Interest	927,358	759,046		—	N/A
Jul-18	1231 Third Avenue	Upper East Side	100.0	Fee Interest	38,992	55,355		100.0	N/A
Oct-18	133 Greene Street	Soho	100.0	Fee Interest	6,425	30,999		100.0	N/A
Dec-18	712 Madison Avenue	Plaza District	100.0	Fee Interest	6,600	57.996		100.0	N/A
Apr-19	106 Spring Street	Soho	100.0	Fee Interest	5,928	80,150		—	N/A
May-19	410 Tenth Avenue	Hudson Yards	70.9	Fee Interest	638,000	440,000		76.3	N/A
Jan-20	762 Madison Avenue	Plaza District	10.0	Fee Interest	6,109	29,250		55.1	—
Jan-20	707 Eleventh Avenue	Midtown West	100.0	Fee Interest	159,720	90,000		54.3	23.3
Jan-20	15 Beekman	Lower Manhattan	100.0	Leasehold Interest	98,412	—		87.3	—
Oct-20	85 Fifth Avenue	Midtown South	36.3	Fee Interest	12,946	59,000		100.0	—
					14,074,062	$	7,402,198

Supplemental Information 43 Second Quarter 2021

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

							Gross Asset Valuation
	Property	Submarket	Interest Sold	Type of Ownership	Net Rentable SF		($'s)			($'s/SF)
2011 - 2020 Dispositions
Sep-11	1551-1555 Broadway	Times Square	10.0%	Fee Interest		25,600		$	276,757		$	10,811
Feb-12	141 Fifth Avenue	Flatiron	100.0	Fee Interest		13,000		46,000			3,538
Feb-12	292 Madison Avenue	Grand Central South	100.0	Fee Interest		203,800		85,000			417
Apr-12	379 West Broadway	Lower Manhattan	100.0	Leasehold Interest		62,006		48,500			782
Jun-12	717 Fifth Avenue	Midtown/Plaza District	50.0	Fee Interest		119,550		617,584			5,166
Sep-12	3 Columbus Circle	Columbus Circle	29.0	Fee Interest		214,372		143,600			670
Feb-13	44 West 55th Street	Plaza District	100.0	Fee Interest		8,557		6,250			730
Jun-13	West Coast Office Portfolio	Los Angeles, California	100.0	Fee Interest		406,740		111,925			275
Aug-13	West Coast Office Portfolio	Fountain Valley, California	100.0	Fee Interest		302,037		66,994			222
Sep-13	West Coast Office Portfolio	San Diego, California	100.0	Fee Interest		110,511		45,400			411
Dec-13	27-29 West 34th Street	Herald Square/Penn Station	100.0	Fee Interest		15,600		70,052			4,491
Jan-14	21-25 West 34th Street	Herald Square/Penn Station	100.0	Fee Interest		30,100		114,948			3,819
Mar-14	West Coast Office Portfolio		100.0	Fee Interest		3,654,315		756,000			207
May-14	747 Madison Avenue	Plaza District	100.0	Fee Interest		10,000		160,000			16,000
Jul-14	985-987 Third Avenue	Upper East Side	100.0	Fee Interest		13,678		68,700			5,023
Sep-14	180-182 Broadway	Lower Manhattan	100.0	Fee Interest		156,086		222,500			1,425
Nov-14	2 Herald Square	Herald Square/Penn Station	100.0	Fee Interest		354,400		365,000			1,030
Nov-14	55 West 46th Street - Tower 46	Midtown	75.0	Fee Interest		347,000		295,000			850
Jan-15	180 Maiden Lane	Financial East	100.0	Fee Interest		1,090,000		470,000			431
Aug-15	131-137 Spring Street	Soho	80.0	Fee Interest		68,342		277,750			4,064
Dec-15	570 & 574 Fifth Avenue	Plaza District	100.0	Fee Interest		24,327		125,400			5,155
Feb-16	248-252 Bedford Avenue	Brooklyn, New York	90.0	Fee Interest		66,611		55,000			826
Feb-16	885 Third Avenue	Midtown / Plaza District	100.0	Fee Interest		607,000		453,000			746
May-16	33 Beekman Street	Downtown	100.0	Fee Interest		163,500		196,000			1,199
Oct-16	400 East 57th Street	Upper East Side	49.0	Fee Interest		290,482		170,000			585
Apr-17	102 Greene Street	Soho	90.0	Fee Interest		9,200		43,500			4,728
Sep-17	102 Greene Street	Soho	10.0	Fee Interest		9,200		43,500			4,728
Apr-18	175-225 Third Street	Brooklyn, New York	95.0	Fee Interest		—		115,000			—
Jun-18	635 Madison Avenue	Plaza District	100.0	Fee Interest		176,530		153,000			867
Jul-18	724 Fifth Avenue	Plaza District	50.0	Fee Interest		65,010		365,000			5,615
Oct-18	72nd Street Assemblage & 1231 Third Avenue	Upper East Side	Various	Fee Interest		—		143,800			—
Jan-19	131-137 Spring Street	Soho	20.0	Fee Interest		68,342		216,000			3,161
Aug-19	115 Spring Street	Soho	49.0	Fee Interest		5,218		66,050			12,658
Dec-19	562 Fifth Avenue	Plaza District	100.0	Fee Interest		42,635		52,393			1,229
Dec-19	1640 Flatbush Avenue	Brooklyn, New York	100.0	Fee Interest		1,000		16,150			16,150
Mar-20	315 West 33rd Street - The Olivia	Penn Station	100.0	Fee Interest		492,987		446,500			906
May-20	609 Fifth Avenue - Retail Condominium	Rockefeller Center	100.0	Fee Interest		21,437		168,000			7,837
Sep-20	400 East 58th Street	Upper East Side	90.0	Fee Interest		140,000		62,000			443
Dec-20	410 Tenth Avenue	Hudson Yards	70.9	Fee Interest		638,000		952,500			1,493
Dec-20	Williamsburg Terrace	Brooklyn, New York	100.0	Fee Interest		52,000		32,000			615
						10,079,173		$	8,122,753		$	806
2021 Dispositions
Jan-21	712 Madison Avenue	Plaza District	100.0%	Fee Interest		6,600		$	43,000		$	6,515
Feb-21	133 Greene Street	Soho	100.0	Fee Interest		6,425		15,796			2,459
Mar-21	106 Spring Street	Soho	100.0	Fee Interest		5,928		34,024			5,740
Jun-21	605 West 42nd Street - Sky	Westside	20.0	Fee Interest		927,358		858,100			925
						946,311		$	950,920		$	1,005

Supplemental Information 44 Second Quarter 2021

EXECUTIVE MANAGEMENT

Marc Holliday	Edward V. Piccinich
Chairman and Chief Executive Officer	Chief Operating Officer
Andrew Mathias	Neil H. Kessner
President	Executive Vice President, General
	Counsel - Real Property
Matthew J. DiLiberto
Chief Financial Officer	Maggie Hui
	Chief Accounting Officer
Andrew S. Levine
Chief Legal Officer	Robert Schiffer
	Managing Director
Steven M. Durels
Executive Vice President, Director of	Brett Herschenfeld
Leasing and Real Property	Managing Director

Supplemental Information 45 Second Quarter 2021

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

Funds Available for Distribution (FAD)

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

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

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

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

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

Net Operating Income (NOI) and Cash NOI

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

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

Coverage Ratios

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

Supplemental Information 46 Second Quarter 2021

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

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

Funds From Operations (FFO) Reconciliation

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Net income attributable to SL Green common stockholders	$	105,332	$	56,444	$	97,868	$	171,245
Add:
Depreciation and amortization	57,261		95,941		120,257		164,220
Joint venture depreciation and noncontrolling interest adjustments	59,485		45,107		115,187		101,425
Net income attributable to noncontrolling interests	6,242		4,093		4,267		10,002
Less:
Gain on sale of real estate, net	98,960		64,884		97,572		137,520
Equity in net gain (loss) on sale of interest in unconsolidated joint venture/real estate	8,471		—		(4,158)		—
Purchase price and other fair value adjustment	—		—		2.664		—
Depreciable real estate reserves	2,545		—		(5,696)		—
Depreciation on non-rental real estate assets	672		609		1,199		1,259
FFO attributable to SL Green common stockholders and noncontrolling interests	$	117,672	$	136,092	$	245,998	$	308,113

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

	As of or for the three months ended
	6/30/2021		3/31/2021		12/31/2020		9/30/2020		6/30/2020
Net income (loss)	$	117,134	$	(3,855)	$	200,340	$	20,677	$	66,627
Interest expense, net of interest income	18,960		23,388		25,579		23,536		30,070
Amortization of deferred financing costs	3,386		3,774		3,482		3,151		2,661
Income taxes	795		708		(859)		—		900
Depreciation and amortization	57,261		62,996		56,932		92,516		95,941
(Gain) loss on sale of real estate	(98,960)		1,388		(51,882)		(26,104)		(64,884)
Equity in net loss (gain) on sale of interest in unconsolidated joint venture/real estate	(8,471)		12,629		(2,961)		—		—
Purchase price and other fair value adjustments	1,947		(2,664)		(187,522)		—		—
Depreciable real estate reserves	(2,545)		8,241		53,827		6,627		—
Adjustments to reflect the entity’s share of EBITDAre of unconsolidated affiliates	99,625		91,989		90,169		87,630		81,843
EBITDAre	$	189,132	$	198,594	$	187,105	$	208,033	$	213,158

Supplemental Information 47 Second Quarter 2021

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

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES - Operating income and Same-store NOI Reconciliation

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Net income	$	117,134	$	66,627	$	113,279	$	193,741
Equity in net (gain) loss on sale of interest in unconsolidated joint venture/real estate	(8,471)		—		4,158		—
Purchase price and other fair value adjustments	1,947		—		(717)		—
Gain on sale of real estate, net	(98,960)		(64,884)		(97,572)		(137,520)
Depreciable real estate reserves	(2,545)		—		5,696		—
Depreciation and amortization	57,261		95,941		120,257		164,220
Interest expense, net of interest income	18,960		30,070		42,348		67,564
Amortization of deferred financing costs	3,386		2,661		7,160		5,161
Operating income	88,712		130,415		194,609		293,166
Equity in net loss from unconsolidated joint ventures	12,970		2,199		15,834		15,013
Marketing, general and administrative expense	22,064		23,510		44,949		43,080
Transaction related costs, net	3		373		25		438
Investment income	(20,107)		(39,943)		(39,380)		(78,476)
Loan loss and other investment reserves, net of recoveries	—		6,813		—		18,061
Non-building revenue	(8,027)		(192)		(12,488)		(3,982)
Net operating income (NOI)	95,615		123,175		203,549		287,300
Equity in net loss from unconsolidated joint ventures	(12,970)		(2,199)		(15,834)		(15,013)
SLG share of unconsolidated JV depreciation and amortization	58,537		46,217		113,812		92,091
SLG share of unconsolidated JV interest expense, net of interest income	34,274		32,714		67,701		68,491
SLG share of unconsolidated JV amortization of deferred financing costs	3,545		1,693		6,430		3,380
SLG share of unconsolidated JV loss on early extinguishment of debt	941		—		941		—
SLG share of unconsolidated JV investment income	(314)		(310)		(610)		(617)
SLG share of unconsolidated JV non-building revenue	(599)		(2,425)		(2,186)		(4,025)
NOI including SLG share of unconsolidated JVs	179,029		198,865		373,803		431,607
NOI from other properties/affiliates	(16,937)		(27,921)		(51,740)		(100,334)
Same-Store NOI	162,092		170,944		322,063		331,273
Operating lease straight-line adjustment	244		245		489		533
Joint Venture operating lease straight-line adjustment	233		252		465		594
Straight-line and free rent	(7,884)		100		(11,264)		(2,800)
Amortization of acquired above and below-market leases, net	(100)		(858)		(195)		(2,428)
Joint Venture straight-line and free rent	(2,166)		(4,271)		(9,515)		(10,030)
Joint Venture amortization of acquired above and below-market leases, net	(4,824)		(3,807)		(9,135)		(7,630)
Same-store cash NOI	$	147,595	$	162,605	$	292,908	$	309,512
Lease termination income	(1,095)		(10,570)		(1,100)		(10,590)
Joint Venture lease termination income	(247)		(172)		(254)		(179)
Same-store cash NOI excluding lease termination income	$	146,253	$	151,863	$	291,554	$	298,743

Supplemental Information 48 Second Quarter 2021

RESEARCH ANALYST COVERAGE

EQUITY COVERAGE
Firm	Analyst	Phone	Email
B of A Securities	James C. Feldman	(646) 855-5808	james.feldman@bofa.com
BMO Capital Markets Corp.	John P. Kim	(212) 885-4115	jp.kim@bmo.com
BTIG	Thomas Catherwood	(212) 738-6140	tcatherwood@btig.com
Citigroup	Michael Bilerman	(212) 816-1383	michael.bilerman@citi.com
Deutsche Bank	Derek Johnston	(212) 250-5683	derek.johnston@db.com
Goldman Sachs & Co.	Caitlin Burrows	(212) 902-4736	caitlin.burrows@gs.com
Green Street	Daniel Ismail	(949) 640-8780	dismail@greenstreet.com
Evercore ISI	Steve Sakwa	(212) 446-9462	steve.sakwa@evercoreisi.com
Jefferies	Jonathan Petersen	(212) 284-1705	jpeterson@jefferies.com
JP Morgan Securities	Anthony Paolone	(212) 622-6682	anthony.paolone@jpmorgan.com
KeyBanc Capital Markets	Craig Mailman	(917) 368-2316	cmailman@key.com
Morgan Stanley & Co.	Vikram Malhotra	(212) 761-7064	vikram.malhotra@morganstanley.com
Baird	David Rodgers	(216) 737-7341	drodgers@rwbaird.com
Piper Sandler	Alexander Goldfarb	(212) 466-7937	alex.goldfarb@psc.com
Scotiabank	Nicholas Yulico	(212) 225-6904	nicholas.yulico@scotiabank.com
Truist Securities	Michael Lewis	(212) 319-5659	michael.r.lewis@truist.com
Wells Fargo	Blaine Heck	(443) 263-6529	blaine.heck@wellsfargo.com
Wolfe Research	Andrew Rosivach	(646) 582-9250	arosivach@wolferesearch.com

FIXED INCOME COVERAGE
Firm	Analyst	Phone	Email
JP Morgan Securities	Mark Streeter	(212) 834-5086	mark.streeter@jpmorgan.com

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

Supplemental Information 49 Second Quarter 2021

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Cover Page	Jul. 21, 2021
Document Information [Line Items]
Document Type	8-K
Document Period End Date	Jul. 21, 2021
Entity Registrant Name	SL GREEN REALTY CORP
Entity Incorporation, State or Country Code	MD
Entity File Number	1-13199
Entity Tax Identification Number	13-3956775
Entity Address, Address Line One	One Vanderbilt Avenue
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
City Area Code	212
Local Phone Number	594-2700
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001040971
Amendment Flag	false
Common Stock
Document Information [Line Items]
Trading Symbol	SLG
Title of 12(b) Security	Common Stock, $0.01 par value
Security Exchange Name	NYSE
Preferred Stock
Document Information [Line Items]
Trading Symbol	SLG.PRI
Title of 12(b) Security	6.500% Series I Cumulative Redeemable Preferred Stock, $0.01 par value
Security Exchange Name	NYSE