SL Green Realty Corp.
Ratio of Earnings to Fixed Charge and Preferred Stock Dividends

	Year Ended December 31,

	2009		2008			2007		2006		2005
Earnings
Income (loss) from continuing operations	$	9,867	$	35,881		$	73,355	$	51,218	$	37,364
Add: JV cash distributions		79,523		525,372			128,305		112,540		200,857
Interest		238,993		298,108			263,663		94,799		75,819
Amortization of loan costs expensed		7,947		6,436			15,893		4,424		4,461
Portion of rent expense representative of interest		22,986		24,346			23,276		17,850		16,915

Total earnings	$	359,316	$	890,143		$	504,492	$	280,831	$	335,416

Fixed Charges and Preferred Stock Dividends
Interest	$	238,993	$	298,108		$	263,663	$	94,799	$	75,819
Preferred stock dividends		19,875		19,875			19,875		19,875		19,875
Interest capitalized		98		(179	)		5,118		8,529		6,849
Portion of rent expense representative of interest		22,986		24,346			23,276		17,850		16,915
Amortization of loan costs expensed		7,947		6,436			15,893		4,424		4,461

Total Fixed Charges and Preferred Stock Dividends	$	289,899	$	348,586		$	327,825	$	145,477	$	123,919

Ratio of earnings to combined fixed charges and preferred stock dividends		1.24X		2.55X			1.54X		1.93X		2.71X

The ratios of earnings to combined fixed charges and preferred dividends and distributions were computed by dividing earnings by fixed charges. For the purpose of calculating the ratios, the earnings have been calculated by adding fixed charges to income or loss from continuing operations before adjustment for noncontrolling interests plus distributions from unconsolidated joint ventures, excluding gains or losses from sale of property, loss on equity investment and marketable securities and the cumulative effect of changes in accounting principles. With respect to SL Green Realty Corp., fixed charges and preferred stock dividends consist of interest expense including the amortization of debt issuance costs, rental expense deemed to represent interest expense and preferred dividends paid on its 7.625% Series C and its 7.875% Series D cumulative redeemable preferred stock.