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Investments in Partially Owned Entities (Tables)
 6 Months Ended
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, 2026Balance as of
June 30, 2026December 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)
Various404,863 148,958 
Alexander's (see page 22 for details):
32.4%80,993 47,276 
Other investments(2)
Various208,597 206,903 
$2,229,224 $1,941,278 
Investments in partially owned entities included in other liabilities(3):
7 West 34th Street53.0%$(41,895)$(65,726)
85 Tenth Avenue49.9%(27,065)(25,198)
$(68,960)$(90,924)
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(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, 2026For the Three Months Ended June 30,For the Six Months Ended June 30,
2026202520262025
 Our share of net income (loss):
Fifth Avenue and Times Square JV (see page 22 for details):
Equity in net income51.5%$5,613 $3,649 $9,936 $9,486 
Return on preferred equity, net of our share of the expense6,173 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 income32.4%2,319 1,919 3,774 5,842 
Management, leasing and development fees3,492 1,406 4,737 3,039 
Net gain on sale44,329 — 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)
Various3,231 5,549 5,760 10,050 
$63,195 $16,671 $76,017 $113,648 
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(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.