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Investments in Unconsolidated Joint Ventures (Balance Sheets of the Unconsolidated Joint Ventures) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Mar. 31, 2025
ASSETS    
Total real estate $ 21,050,255 $ 21,119,163
Total assets 26,084,980 25,436,521
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Mortgage and notes payable, net 4,276,609 4,277,710
Other Liabilities 450,796 450,165
Members’/Partners’ equity 5,413,306 5,319,942
Total liabilities and equity / capital 26,084,980 25,436,521
Carying value of the Company's investment in unconsolidated joint ventures 1,093,583 1,137,732
Operating Lease, Right-of-Use Asset 334,767 330,129
Lease Liabilities - Operating Leases 392,686 395,638
Unconsolidated Joint Ventures [Member]    
ASSETS    
Total real estate [1] 5,748,198 5,820,435
Other assets [2] 703,096 700,641
Total assets 6,451,294 6,521,076
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Mortgage and notes payable, net 3,206,723 3,213,566
Other Liabilities [3] 292,125 251,826
Members’/Partners’ equity 2,952,446 3,055,684
Total liabilities and equity / capital 6,451,294 6,521,076
Company's share of equity 1,344,543 1,371,939
Basis differentials [4] (284,469) (282,392)
Carying value of the Company's investment in unconsolidated joint ventures [5] 1,060,074 1,089,547
Operating Lease, Right-of-Use Asset 19,000 18,700
Sales-type lease receivable, net 14,100 14,200
Lease Liabilities - Operating Leases 30,500 30,500
Unconsolidated Joint Ventures [Member]    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Other Liabilities 33,500 48,200
Colorado Center    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials 127,632 128,562
Carying value of the Company's investment in unconsolidated joint ventures [6] 65,000 68,235
Impairment loss on investment 168,400  
200 Fifth Avenue JV LLC    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials 49,656 48,017
Carying value of the Company's investment in unconsolidated joint ventures [6] 70,673 67,165
Gateway Commons Complex [Member]    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials (74,500) (73,693)
Carying value of the Company's investment in unconsolidated joint ventures [6] 272,000 272,872
Impairment loss on investment 126,100  
Safeco Plaza REIT LLC    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials (75,576) (74,822)
Carying value of the Company's investment in unconsolidated joint ventures [6] 0 132
Impairment loss on investment 46,800  
Dock 72    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Other Liabilities [6] 9,889 12,477
Basis differentials (92,054) (91,159)
360 Park Avenue South    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials (113,265) (112,372)
Carying value of the Company's investment in unconsolidated joint ventures [6] 74,592 79,883
Platform 16    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials (142,698) (142,683)
Carying value of the Company's investment in unconsolidated joint ventures [6] 56,265 57,775
Other Unconsolidated JVS    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials $ 36,300 $ 35,800
[1] At March 31, 2025 and December 31, 2024, this amount included right of use assets - operating leases totaling approximately $18.7 million and $19.0 million, respectively.
[2] At March 31, 2025 and December 31, 2024, this amount included sales-type lease receivable, net totaling approximately $14.2 million and $14.1 million, respectively.
[3] At March 31, 2025 and December 31, 2024, this amount included lease liabilities - operating leases totaling approximately $30.5 million.
[4] This amount represents the aggregate difference between the Company’s historical cost basis and the basis reflected at the joint venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials result from impairments of investments, acquisitions through joint ventures with no change in control and upon the transfer of assets that were previously owned by the Company into a joint venture. During the year ended December 31, 2024, the Company recognized an other-than-temporary impairment loss on its investments in Colorado Center, Gateway Commons and Safeco Plaza of approximately $168.4 million, $126.1 million, and $46.8 million, respectively. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the joint venture level. The Company’s basis differences include:
March 31, 2025December 31, 2024
Property(in thousands)
Colorado Center$128,562 $127,632 
200 Fifth Avenue48,017 49,656 
Gateway Commons(73,693)(74,500)
Safeco Plaza(74,822)(75,576)
Dock 72(91,159)(92,054)
360 Park Avenue South(112,372)(113,265)
Platform 16(142,683)(142,698)
These basis differentials (excluding land) will be amortized over the remaining lives of the related assets and liabilities. An additional $35.8 million and $36.3 million of other basis differentials are not included above at March 31, 2025 and December 31, 2024, respectively.
[5] Investments with deficit balances aggregating approximately $48.2 million and $33.5 million at March 31, 2025 and December 31, 2024, respectively, are reflected within Other Liabilities in the Company’s Consolidated Balance Sheets.
[6] Investments with deficit balances aggregating approximately $48.2 million and $33.5 million at March 31, 2025 and December 31, 2024, respectively, are included within Other Liabilities in the Company’s Consolidated Balance Sheets.