Every figure is the balance as filed. Each filing badge opens the SEC index page for that fiscal year.
Structure
Capital structure
Assets plotted against the liabilities and equity stack, so you can see how the balance sheet is financed.
Liabilities and equity stack to the capital base; assets are the dashed reference line.
Composition
Capital mix
The same split read as a share of total capital rather than in absolute dollars.
Percentages are measured against total capital for each fiscal year.
Trend
Multi-year momentum
How assets, liabilities and equity have moved across the annual balance sheet window.
Switching between bar and line keeps the selected year order.
Doing some research...
Commentary
Commentary on SL GREEN REALTY CORP Balance Sheet
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Earlier AI snapshot · Generated Jun 9, 2026. The filing-backed figures above are the current source of truth.
SL Green Realty’s balance sheet over the past five years shows a cyclical but generally stable capital base, with a clear dip in 2023 followed by a partial recovery in 2024–2025. Total assets fell from about $11.1 billion in 2021 to $9.5 billion in 2023, likely reflecting portfolio repositioning, asset sales, or market value pressure in the office real estate sector, which has faced ongoing headwinds. Assets then rebounded to roughly $10.5 billion in 2024 and $11.1 billion in 2025, bringing the company back near 2021 levels.
Liabilities moved in the same broad pattern, increasing from $5.7 billion in 2021 to a peak of $7.3 billion in 2022, then declining to $5.3 billion in 2023 before rising again to $6.7 billion in 2025. Equity was comparatively resilient, though it trended lower over the period: from $4.8 billion in 2021 to $3.9 billion in 2024 and $3.7 billion in 2025. Overall, SL Green appears to have maintained a substantial equity cushion, but the modest decline in equity alongside a rebound in liabilities suggests somewhat more leveraged positioning than in 2021.
From an industry perspective, this pattern is consistent with a major office-focused REIT navigating a challenging environment of higher interest rates, refinancing pressure, and softer demand for office space. The company’s ability to restore asset levels while keeping liabilities below the 2022 peak is constructive, but the recent rise in leverage and the gradual erosion in equity warrant monitoring, especially given the sensitivity of real estate balance sheets to financing conditions and property valuations.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.
