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Investments in Partially Owned Entities (Tables) | 6 Months Ended
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Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Investments in Partially Owned Entities | Below is a schedule summarizing our investments in partially owned entities.
(Amounts in thousands) | Percentage Ownership as of June 30, 2026 |  | Balance as of
|  | June 30, 2026 |  | December 31, 2025
Investments: |  |  |  |  |
Fifth Avenue and Times Square JV (see page 22 for details) | 51.5% |  | $ | 1,534,771 |  |  | $ | 1,538,141 |
Partially owned office buildings/land(1) | Various |  | 404,863 |  |  | 148,958 |
Alexander's (see page 22 for details): | 32.4% |  | 80,993 |  |  | 47,276 |
Other investments(2) | Various |  | 208,597 |  |  | 206,903 |
|  |  | $ | 2,229,224 |  |  | $ | 1,941,278 |
Investments in partially owned entities included in other liabilities(3): |  |  |  |  |
7 West 34th Street | 53.0% |  | $ | (41,895) |  |  | $ | (65,726) |
85 Tenth Avenue | 49.9% |  | (27,065) |  |  | (25,198) |
|  |  | $ | (68,960) |  |  | $ | (90,924) |
____________________ (1)Includes interests in 280 Park Avenue, Park Avenue Plaza, 61 Ninth Avenue and others. (2)Includes interests in Independence Plaza, Sunset Pier 94 Joint Venture (“Pier 94 JV”), Rosslyn Plaza and others. (3)Our negative basis results from distributions in excess of our investment. 5. Investments in Partially Owned Entities - continued Below is a schedule of income from partially owned entities.
(Amounts in thousands) | Percentage Ownership as of June 30, 2026 |  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30, |
|  | 2026 |  | 2025 |  | 2026 |  | 2025 |
Our share of net income (loss): |  |  |  |  |  |  |  |  |  |
Fifth Avenue and Times Square JV (see page 22 for details): |  |  |  |  |  |  |  |  |  |
Equity in net income | 51.5% |  | $ | 5,613 |  |  | $ | 3,649 |  |  | $ | 9,936 |  |  | $ | 9,486 |  |
Return on preferred equity, net of our share of the expense |  |  | 6,173 |  |  | 6,503 |  |  | 12,278 |  |  | 15,046 |  |
Net gain on sale |  |  | — |  |  | — |  |  | — |  |  | 76,162 |  |
|  |  | 11,786 |  |  | 10,152 |  |  | 22,214 |  |  | 100,694 |  |
Alexander's (see page 22 for details): |  |  |  |  |  |  |  |  |  |
Equity in net income | 32.4% |  | 2,319 |  |  | 1,919 |  |  | 3,774 |  |  | 5,842 |  |
Management, leasing and development fees |  |  | 3,492 |  |  | 1,406 |  |  | 4,737 |  |  | 3,039 |  |
Net gain on sale |  |  | 44,329 |  |  | — |  |  | 44,329 |  |  | — |  |
|  |  | 50,140 |  |  | 3,325 |  |  | 52,840 |  |  | 8,881 |  |
Partially owned office buildings(1) | Various |  | (1,962) |  |  | (2,355) |  |  | (4,797) |  |  | (5,977) |  |
Other investments(2) | Various |  | 3,231 |  |  | 5,549 |  |  | 5,760 |  |  | 10,050 |  |
|  |  | $ | 63,195 |  |  | $ | 16,671 |  |  | $ | 76,017 |  |  | $ | 113,648 |  |
____________________ (1)Includes interests in 280 Park Avenue, Park Avenue Plaza, 7 West 34th Street, 61 Ninth Avenue, 85 Tenth Avenue and others. (2)Includes interests in Independence Plaza, Pier 94 JV, Rosslyn Plaza and others.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 + Details
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