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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Schedule of Segment Information | Below is a summary of NOI at share by segment for the three and six months ended June 30, 2026 and 2025.
(Amounts in thousands) | For the Three Months Ended June 30, 2026
| Total |  | New York |  | Other
Total revenues | $ | 462,242 |  |  | $ | 380,316 |  |  | $ | 81,926 |
Deduct: operating expenses(1) | (223,649) |  |  | (194,620) |  |  | (29,029) |
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries | (11,167) |  |  | (4,880) |  |  | (6,287) |
Add: NOI from partially owned entities | 76,638 |  |  | 70,882 |  |  | 5,756 |
NOI at share | $ | 304,064 |  |  | $ | 251,698 |  |  | $ | 52,366 |
(Amounts in thousands) | For the Three Months Ended June 30, 2025
| Total |  | New York |  | Other
Total revenues | $ | 441,437 |  |  | $ | 356,522 |  |  | $ | 84,915 |
Deduct: operating expenses(1) | (219,348) |  |  | (187,107) |  |  | (32,241) |
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries | (10,643) |  |  | (2,898) |  |  | (7,745) |
Add: NOI from partially owned entities | 66,227 |  |  | 63,587 |  |  | 2,640 |
NOI at share | $ | 277,673 |  |  | $ | 230,104 |  |  | $ | 47,569 |
(Amounts in thousands) | For the Six Months Ended June 30, 2026
| Total |  | New York |  | Other
Total revenues | $ | 921,347 |  |  | $ | 757,802 |  |  | $ | 163,545 |
Deduct: operating expenses(1) | (470,280) |  |  | (398,048) |  |  | (72,232) |
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries | (19,826) |  |  | (7,825) |  |  | (12,001) |
Add: NOI from partially owned entities | 144,946 |  |  | 136,318 |  |  | 8,628 |
NOI at share | $ | 576,187 |  |  | $ | 488,247 |  |  | $ | 87,940 |
_______________________________ See note on the following page. 19. Segment Information - continued
(Amounts in thousands) | For the Six Months Ended June 30, 2025
| Total |  | New York |  | Other
Total revenues | $ | 903,016 |  |  | $ | 731,068 |  |  | $ | 171,948 |
Deduct: operating expenses(1) | (444,088) |  |  | (369,530) |  |  | (74,558) |
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries | (21,303) |  |  | (6,059) |  |  | (15,244) |
Add: NOI from partially owned entities | 133,338 |  |  | 127,446 |  |  | 5,892 |
NOI at share | $ | 570,963 |  |  | $ | 482,925 |  |  | $ | 88,038 |
_____________________ (1)Includes various expenses associated with operating our properties, including but not limited to: real estate taxes, ground rent, insurance, and utilities. Our CODM is not regularly provided with significant expense categories and amounts included within net operating income at share. Below is a reconciliation of NOI at share to income before income taxes for the three and six months ended June 30, 2026 and 2025.
(Amounts in thousands) | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
NOI at share | $ | 304,064 |  |  | $ | 277,673 |  |  | $ | 576,187 |  |  | $ | 570,963 |
NOI attributable to noncontrolling interests in consolidated subsidiaries | 11,167 |  |  | 10,643 |  |  | 19,826 |  |  | 21,303 |
NOI from partially owned entities | (76,638) |  |  | (66,227) |  |  | (144,946) |  |  | (133,338) |
Net gains on disposition of wholly owned and partially owned assets | — |  |  | 8,488 |  |  | — |  |  | 24,039 |
Gain on debt extinguishment | 32,073 |  |  | — |  |  | 32,073 |  |  | — |
Gain on sales-type lease | — |  |  | 803,248 |  |  | — |  |  | 803,248 |
Interest and debt expense | (89,582) |  |  | (87,929) |  |  | (178,788) |  |  | (183,745) |
Interest and other investment income, net | 8,989 |  |  | 11,056 |  |  | 18,316 |  |  | 19,317 |
Income from partially owned entities | 63,195 |  |  | 16,671 |  |  | 76,017 |  |  | 113,648 |
Transaction related costs and other | (173) |  |  | (721) |  |  | (935) |  |  | (764) |
General and administrative expense | (39,100) |  |  | (39,978) |  |  | (81,345) |  |  | (78,575) |
Depreciation and amortization expense | (171,228) |  |  | (115,574) |  |  | (289,756) |  |  | (231,729) |
Income before income taxes | $ | 42,767 |  |  | $ | 817,350 |  |  | $ | 26,649 |  |  | $ | 924,367 |

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