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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Thousands | Total | Class A Units | Series A Preferred Stock | Preferred Shares | Preferred Shares Series A Preferred Stock | Common Shares | Common Shares Class A Units | Common Shares Series A Preferred Stock | Additional Capital | Additional Capital Class A Units | Additional Capital Series A Preferred Stock | Earnings Less Than Distributions | Accumulated Other Comprehensive (Loss) Income | Non-controlling Interests in Consolidated Subsidiaries
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Beginning balance (in shares) at Dec. 31, 2024 |  |  |  | 48,789,000 |  |  |  |  |  |  |  |  |  |
Beginning balance at Dec. 31, 2024 | $ 5,337,211 |  |  | $ 1,182,364 |  | $ 7,634 |  |  | $ 8,052,793 |  |  | $ (4,142,249) | $ 57,700 | $ 178,969
Beginning balance (in shares) at Dec. 31, 2024 |  |  |  |  |  | 190,847,000 |  |  |  |  |  |  |  |
Increase (Decrease) in Stockholders' Equity [Roll Forward] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income attributable to Vornado/Vornado Realty L.P. | 861,713 |  |  |  |  |  |  |  |  |  |  | 861,713 |  |
Net income attributable to nonredeemable noncontrolling interests in consolidated subsidiaries | (6,988) |  |  |  |  |  |  |  |  |  |  |  |  | (6,988)
Dividends on preferred shares (see Note 11 for dividends per share amounts) | (31,052) |  |  |  |  |  |  |  |  |  |  | (31,052) |  |
Common shares issued: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common shares issued upon redemption of Class A units, at redemption value and Conversion of Series A Preferred shares to common shares (in shares) |  |  |  |  |  | 1,193,000 |  |  |  |  |  |  |  |
Common shares issued upon redemption of Class A units, at redemption value and Conversion of Series A Preferred shares to common shares | 48,578 |  |  |  |  | $ 48 |  |  | 48,530 |  |  |  |  |
Under employees' share option plan (in shares) |  |  |  |  |  | 1,000 |  |  |  |  |  |  |  |
Under employees’ share option plan | 36 |  |  |  |  |  |  |  | 36 |  |  |  |  |
Contributions | 673 |  |  |  |  |  |  |  |  |  |  |  |  | 673
Distributions | (186) |  |  |  |  |  |  |  |  |  |  |  |  | (186)
Other comprehensive income (loss) of nonconsolidated subsidiaries | (11,251) |  |  |  |  |  |  |  |  |  |  |  | (11,251) |
Change in fair value of consolidated interest rate hedges and other | (41,142) |  |  |  |  |  |  |  |  |  |  |  | (41,142) |
Redeemable Class A unit measurement adjustment | 102,388 |  |  |  |  |  |  |  | 102,422 |  |  |  | (34) |
Operating Partnership | 4,271 |  |  |  |  |  |  |  |  |  |  |  | 4,271 |
Consolidated subsidiaries | 0 |  |  |  |  |  |  |  |  |  |  |  | 311 | (311)
Other | (290) |  |  |  |  |  |  |  |  |  |  | 2 | 2 | (294)
Ending balance (in shares) at Jun. 30, 2025 |  |  |  | 48,789,000 |  |  |  |  |  |  |  |  |  |
Ending balance at Jun. 30, 2025 | 6,263,961 |  |  | $ 1,182,364 |  | $ 7,682 |  |  | 8,203,781 |  |  | (3,311,586) | 9,857 | 171,863
Ending balance (in shares) at Jun. 30, 2025 |  |  |  |  |  | 192,041,000 |  |  |  |  |  |  |  |
Beginning balance (in shares) at Mar. 31, 2025 |  |  |  | 48,789,000 |  |  |  |  |  |  |  |  |  |
Beginning balance at Mar. 31, 2025 | 5,489,969 |  |  | $ 1,182,364 |  | $ 7,678 |  |  | 8,152,507 |  |  | (4,055,415) | 26,984 | 175,851
Beginning balance (in shares) at Mar. 31, 2025 |  |  |  |  |  | 191,949,000 |  |  |  |  |  |  |  |
Increase (Decrease) in Stockholders' Equity [Roll Forward] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income attributable to Vornado/Vornado Realty L.P. | 759,345 |  |  |  |  |  |  |  |  |  |  | 759,345 |  |
Net income attributable to nonredeemable noncontrolling interests in consolidated subsidiaries | (3,987) |  |  |  |  |  |  |  |  |  |  |  |  | (3,987)
Dividends on preferred shares (see Note 11 for dividends per share amounts) | (15,526) |  |  |  |  |  |  |  |  |  |  | (15,526) |  |
Common shares issued: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common shares issued upon redemption of Class A units, at redemption value and Conversion of Series A Preferred shares to common shares (in shares) |  |  |  |  |  | 92,000 |  |  |  |  |  |  |  |
Common shares issued upon redemption of Class A units, at redemption value and Conversion of Series A Preferred shares to common shares | 3,427 |  |  |  |  | $ 4 |  |  | 3,423 |  |  |  |  |
Contributions | 620 |  |  |  |  |  |  |  |  |  |  |  |  | 620
Distributions | (177) |  |  |  |  |  |  |  |  |  |  |  |  | (177)
Other comprehensive income (loss) of nonconsolidated subsidiaries | (3,668) |  |  |  |  |  |  |  |  |  |  |  | (3,668) |
Change in fair value of consolidated interest rate hedges and other | (15,080) |  |  |  |  |  |  |  |  |  |  |  | (15,080) |
Redeemable Class A unit measurement adjustment | 47,853 |  |  |  |  |  |  |  | 47,851 |  |  |  | 2 |
Operating Partnership | 1,494 |  |  |  |  |  |  |  |  |  |  |  | 1,494 |
Consolidated subsidiaries | 0 |  |  |  |  |  |  |  |  |  |  |  | 124 | (124)
Other | (309) |  |  |  |  |  |  |  |  |  |  | 10 | 1 | (320)
Ending balance (in shares) at Jun. 30, 2025 |  |  |  | 48,789,000 |  |  |  |  |  |  |  |  |  |
Ending balance at Jun. 30, 2025 | $ 6,263,961 |  |  | $ 1,182,364 |  | $ 7,682 |  |  | 8,203,781 |  |  | (3,311,586) | 9,857 | 171,863
Ending balance (in shares) at Jun. 30, 2025 |  |  |  |  |  | 192,041,000 |  |  |  |  |  |  |  |
Beginning balance (in shares) at Dec. 31, 2025 | 48,788,450 |  |  | 48,788,000 |  |  |  |  |  |  |  |  |  |
Beginning balance at Dec. 31, 2025 | $ 6,156,572 |  |  | $ 1,182,345 |  | $ 7,627 |  |  | 8,288,363 |  |  | (3,491,603) | (5) | 169,845
Beginning balance (in shares) at Dec. 31, 2025 | 190,666,367 |  |  |  |  | 190,666,000 |  |  |  |  |  |  |  |
Increase (Decrease) in Stockholders' Equity [Roll Forward] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income attributable to Vornado/Vornado Realty L.P. | $ 24,642 |  |  |  |  |  |  |  |  |  |  | 24,642 |  |
Net income attributable to nonredeemable noncontrolling interests in consolidated subsidiaries | 7,280 |  |  |  |  |  |  |  |  |  |  |  |  | 7,280
Dividends on preferred shares (see Note 11 for dividends per share amounts) | (31,050) |  |  |  |  |  |  |  |  |  |  | (31,050) |  |
Common shares issued: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common shares issued upon redemption of Class A units, at redemption value and Conversion of Series A Preferred shares to common shares (in shares) |  |  |  |  | (1,000) |  | 586,000 | 1,000 |  |  |  |  |  |
Common shares issued upon redemption of Class A units, at redemption value and Conversion of Series A Preferred shares to common shares |  | $ 16,987 | $ 0 |  | $ (16) |  | $ 23 |  |  | $ 16,964 | $ 16 |  |  |
Distributions | (1,548) |  |  |  |  |  |  |  |  |  |  |  |  | (1,548)
Repurchase of common shares (in shares) |  |  |  |  |  | (4,533,000) |  |  |  |  |  |  |  |
Repurchase of common shares | (133,396) |  |  |  |  | $ (181) |  |  |  |  |  | (133,215) |  |
Other comprehensive income (loss) of nonconsolidated subsidiaries | 9,304 |  |  |  |  |  |  |  |  |  |  |  | 9,304 |
Change in fair value of consolidated interest rate hedges and other | 18,681 |  |  |  |  |  |  |  |  |  |  |  | 18,681 |
Redeemable Class A unit measurement adjustment | (102,097) |  |  |  |  |  |  |  | (102,558) |  |  |  | 461 |
Operating Partnership | (2,286) |  |  |  |  |  |  |  |  |  |  |  | (2,286) |
Consolidated subsidiaries | 0 |  |  |  |  |  |  |  |  |  |  |  | (121) | 121
Other (in shares) |  |  |  | 1,000 |  | 1,000 |  |  |  |  |  |  |  |
Other | $ 195 |  |  | $ 176 |  |  |  |  | (1) |  |  | 22 | (1) | (1)
Ending balance (in shares) at Jun. 30, 2026 | 48,787,838 |  |  | 48,788,000 |  |  |  |  |  |  |  |  |  |
Ending balance at Jun. 30, 2026 | $ 5,963,284 |  |  | $ 1,182,505 |  | $ 7,469 |  |  | 8,202,784 |  |  | (3,631,204) | 26,033 | 175,697
Ending balance (in shares) at Jun. 30, 2026 | 186,720,531 |  |  |  |  | 186,721,000 |  |  |  |  |  |  |  |
Beginning balance (in shares) at Mar. 31, 2026 |  |  |  | 48,788,000 |  |  |  |  |  |  |  |  |  |
Beginning balance at Mar. 31, 2026 | $ 6,182,772 |  |  | $ 1,182,345 |  | $ 7,524 |  |  | 8,407,140 |  |  | (3,594,200) | 15,221 | 164,742
Beginning balance (in shares) at Mar. 31, 2026 |  |  |  |  |  | 188,098,000 |  |  |  |  |  |  |  |
Increase (Decrease) in Stockholders' Equity [Roll Forward] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income attributable to Vornado/Vornado Realty L.P. | 31,959 |  |  |  |  |  |  |  |  |  |  | 31,959 |  |
Net income attributable to nonredeemable noncontrolling interests in consolidated subsidiaries | 12,396 |  |  |  |  |  |  |  |  |  |  |  |  | 12,396
Dividends on preferred shares (see Note 11 for dividends per share amounts) | (15,525) |  |  |  |  |  |  |  |  |  |  | (15,525) |  |
Common shares issued: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common shares issued upon redemption of Class A units, at redemption value and Conversion of Series A Preferred shares to common shares (in shares) |  |  |  |  | (1,000) |  | 409,000 | 1,000 |  |  |  |  |  |
Common shares issued upon redemption of Class A units, at redemption value and Conversion of Series A Preferred shares to common shares |  | $ 11,711 | $ 0 |  | $ (16) |  | $ 16 |  |  | $ 11,695 | $ 16 |  |  |
Distributions | (1,470) |  |  |  |  |  |  |  |  |  |  |  |  | (1,470)
Repurchase of common shares (in shares) |  |  |  |  |  | (1,787,000) |  |  |  |  |  |  |  |
Repurchase of common shares | (53,497) |  |  |  |  | $ (71) |  |  |  |  |  | (53,426) |  |
Other comprehensive income (loss) of nonconsolidated subsidiaries | 5,019 |  |  |  |  |  |  |  |  |  |  |  | 5,019 |
Change in fair value of consolidated interest rate hedges and other | 6,275 |  |  |  |  |  |  |  |  |  |  |  | 6,275 |
Redeemable Class A unit measurement adjustment | (215,599) |  |  |  |  |  |  |  | (216,066) |  |  |  | 467 |
Operating Partnership | (920) |  |  |  |  |  |  |  |  |  |  |  | (920) |
Consolidated subsidiaries | 0 |  |  |  |  |  |  |  |  |  |  |  | (29) | 29
Other (in shares) |  |  |  | 1,000 |  |  |  |  |  |  |  |  |  |
Other | $ 163 |  |  | $ 176 |  |  |  |  | (1) |  |  | (12) |  |
Ending balance (in shares) at Jun. 30, 2026 | 48,787,838 |  |  | 48,788,000 |  |  |  |  |  |  |  |  |  |
Ending balance at Jun. 30, 2026 | $ 5,963,284 |  |  | $ 1,182,505 |  | $ 7,469 |  |  | $ 8,202,784 |  |  | $ (3,631,204) | $ 26,033 | $ 175,697
Ending balance (in shares) at Jun. 30, 2026 | 186,720,531 |  |  |  |  | 186,721,000 |  |  |  |  |  |  |  |

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