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Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended
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Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] |
Schedule III - Real Estate and Accumulated Depreciation |
Column A |  | Column B |  | Column C Initial Cost |  | Column D Cost Capitalized Subsequent To Acquisition (1) |  | Column E Gross Amount at Which Carried at Close of Period |  | Column F |  | Column G |  | Column H |  | Column I
Description (2) |  | Encumbrances |  | Land |  | Building & Improvements |  | Land |  | Building & Improvements |  | Land |  | Building & Improvements |  | Total |  | Accumulated Depreciation |  | Date of Construction |  | Date Acquired |  | Life on Which Depreciation is Computed
420 Lexington Ave |  | $ | 272,326 |  |  | $ | — |  |  | $ | 333,499 |  |  | $ | — |  |  | $ | 79,607 |  |  | $ | — |  |  | $ | 413,106 |  |  | $ | 413,106 |  |  | $ | 233,848 |  |  | 1927 |  | 3/1998 |  | Various
711 Third Avenue |  | — |  |  | 19,844 |  |  | 115,769 |  |  | — |  |  | 16,578 |  |  | 19,844 |  |  | 132,347 |  |  | 152,191 |  |  | 84,768 |  |  | 1955 |  | 5/1998 |  | Various
555 W. 57th Street |  | — |  |  | 18,846 |  |  | 140,946 |  |  | — |  |  | 21,526 |  |  | 18,846 |  |  | 162,472 |  |  | 181,318 |  |  | 103,967 |  |  | 1971 |  | 1/1999 |  | Various
461 Fifth Avenue |  | — |  |  | — |  |  | 88,276 |  |  | 28,873 |  |  | 15,200 |  |  | 28,873 |  |  | 103,476 |  |  | 132,349 |  |  | 49,460 |  |  | 1988 |  | 10/2003 |  | Various
750 Third Avenue |  | — |  |  | 51,093 |  |  | 251,523 |  |  | — |  |  | 114,773 |  |  | 51,093 |  |  | 366,296 |  |  | 417,389 |  |  | 115,992 |  |  | 1958 |  | 7/2004 |  | Various
485 Lexington Avenue |  | 450,000 |  |  | 78,282 |  |  | 452,631 |  |  | — |  |  | (4,635) |  |  | 78,282 |  |  | 447,996 |  |  | 526,278 |  |  | 217,606 |  |  | 1956 |  | 12/2004 |  | Various
810 Seventh Avenue |  | — |  |  | 114,077 |  |  | 550,819 |  |  | — |  |  | 13,809 |  |  | 114,077 |  |  | 564,628 |  |  | 678,705 |  |  | 252,324 |  |  | 1970 |  | 1/2007 |  | Various
1185 Avenue of the Americas |  | — |  |  | — |  |  | 791,106 |  |  | — |  |  | 46,785 |  |  | — |  |  | 837,891 |  |  | 837,891 |  |  | 418,159 |  |  | 1969 |  | 1/2007 |  | Various
1350 Avenue of the Americas |  | — |  |  | 90,941 |  |  | 431,517 |  |  | — |  |  | 26,318 |  |  | 90,941 |  |  | 457,835 |  |  | 548,776 |  |  | 211,252 |  |  | 1966 |  | 1/2007 |  | Various
1-6 Landmark Square (3) |  | 100,000 |  |  | 27,852 |  |  | 161,343 |  |  | (6,939) |  |  | (13,804) |  |  | 20,913 |  |  | 147,539 |  |  | 168,452 |  |  | 51,883 |  |  | 1973-1984 |  | 1/2007 |  | Various
7 Landmark Square (3) |  | — |  |  | 1,721 |  |  | 8,417 |  |  | (1,338) |  |  | (6,235) |  |  | 383 |  |  | 2,182 |  |  | 2,565 |  |  | 783 |  |  | 2007 |  | 1/2007 |  | Various
100 Church Street |  | 370,000 |  |  | 34,994 |  |  | 183,932 |  |  | — |  |  | 16,674 |  |  | 34,994 |  |  | 200,606 |  |  | 235,600 |  |  | 84,431 |  |  | 1959 |  | 1/2010 |  | Various
125 Park Avenue |  | — |  |  | 120,900 |  |  | 270,598 |  |  | — |  |  | 30,032 |  |  | 120,900 |  |  | 300,630 |  |  | 421,530 |  |  | 139,949 |  |  | 1923 |  | 10/2010 |  | Various
19 East 65th Street |  | — |  |  | 8,603 |  |  | 2,074 |  |  | — |  |  | 4,990 |  |  | 8,603 |  |  | 7,064 |  |  | 15,667 |  |  | 10 |  |  | 1929 |  | 1/2012 |  | Various
304 Park Avenue |  | — |  |  | 54,489 |  |  | 90,643 |  |  | — |  |  | 12,056 |  |  | 54,489 |  |  | 102,699 |  |  | 157,188 |  |  | 36,859 |  |  | 1930 |  | 6/2012 |  | Various
760 Madison Avenue |  | — |  |  | 284,286 |  |  | 8,314 |  |  | (2,748) |  |  | 165,708 |  |  | 281,538 |  |  | 174,022 |  |  | 455,560 |  |  | 5,315 |  |  | 1996/2012 |  | 7/2014 |  | Various
110 Greene Street |  | — |  |  | 45,120 |  |  | 228,393 |  |  | — |  |  | 4,741 |  |  | 45,120 |  |  | 233,134 |  |  | 278,254 |  |  | 64,093 |  |  | 1910 |  | 7/2015 |  | Various
7 Dey / 185 Broadway |  | 190,148 |  |  | 45,540 |  |  | 27,865 |  |  | — |  |  | 209,670 |  |  | 45,540 |  |  | 237,535 |  |  | 283,075 |  |  | 21,860 |  |  | 1921 |  | 8/2015 |  | Various
885 Third Avenue (4) |  | — |  |  | 138,444 |  |  | 244,040 |  |  | (138,444) |  |  | (119,024) |  |  | — |  |  | 125,016 |  |  | 125,016 |  |  | 15,506 |  |  | 1986 |  | 7/2020 |  | Various
690 Madison |  | — |  |  | 13,820 |  |  | 51,732 |  |  | (7,985) |  |  | (27,336) |  |  | 5,835 |  |  | 24,396 |  |  | 30,231 |  |  | 5,132 |  |  | 1879 |  | 9/2021 |  | Various
100 Park Avenue (5) |  | 360,000 |  |  | 230,891 |  |  | 133,269 |  |  | — |  |  | — |  |  | 230,891 |  |  | 133,269 |  |  | 364,160 |  |  | — |  |  | 1950 |  | 2/2000 |  | Various
10 East 53rd Street (5) |  | 205,000 |  |  | 104,143 |  |  | 62,470 |  |  | — |  |  | — |  |  | 104,143 |  |  | 62,470 |  |  | 166,613 |  |  | 4,710 |  |  | 1971 |  | 2/2012 |  | Various
Other (6) |  | — |  |  | 20,637 |  |  | 16,224 |  |  | (18,901) |  |  | (2,133) |  |  | 1,736 |  |  | 14,091 |  |  | 15,827 |  |  | 8,174 |  |  |  |  |  |  |
Total |  | $ | 1,947,474 |  |  | $ | 1,504,523 |  |  | $ | 4,645,400 |  |  | $ | (147,482) |  |  | $ | 605,300 |  |  | $ | 1,357,041 |  |  | $ | 5,250,700 |  |  | $ | 6,607,741 |  |  | $ | 2,126,081 |  |  |  |  |  |  |
(1)Includes depreciable real estate reserves and impairments recorded subsequent to acquisition. (2)All properties located in New York, New York, unless otherwise noted. (3)Property located in Connecticut. (4)In December 2022, the Company sold 414,317 square feet of office leasehold condominium units at the property. The Company retained the remaining 218,796 square feet of the building. (5)Initial cost is the fair value that was determined upon consolidation of these investments in 2024. (6)Other includes tenant improvements of eEmerge, capitalized interest and corporate improvements. The changes in real estate for the years ended December 31, 2024, 2023 and 2022 are as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Balance at beginning of year | $ | 6,102,864 |  |  | $ | 9,198,799 |  |  | $ | 7,650,907 |
Property acquisitions | — |  |  | — |  |  | 1,900,042 |
Improvements | 199,416 |  |  | 241,213 |  |  | 335,413 |
Retirements/disposals/deconsolidation | 305,461 |  |  | (2,383,912) |  |  | (687,563) |
Reclassification (1) | — |  |  | (953,236) |  |  | — |
Balance at end of year | $ | 6,607,741 |  |  | $ | 6,102,864 |  |  | $ | 9,198,799 |
The aggregate cost of land, buildings and improvements, before depreciation, for Federal income tax purposes as of December 31, 2024 was $4.9 billion (unaudited). The changes in accumulated depreciation, exclusive of amounts relating to equipment, autos, and furniture and fixtures, for the years ended December 31, 2024, 2023 and 2022 are as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Balance at beginning of year | $ | 1,968,004 |  |  | $ | 2,039,554 |  |  | $ | 1,896,199 |
Depreciation for year | 171,744 |  |  | 199,576 |  |  | 175,465 |
Retirements/disposals/deconsolidation | (13,667) |  |  | (203,819) |  |  | (32,110) |
Reclassification (1) | — |  |  | (67,307) |  |  |
Balance at end of year | $ | 2,126,081 |  |  | $ | 1,968,004 |  |  | $ | 2,039,554 |
(1) Beginning in the second quarter of 2024, we reclassified amounts recorded for certain right-of-use assets classified as operating leases from a gross presentation above accumulated depreciation to a net presentation below accumulated depreciation in our consolidated balance sheets. This includes reclassifying the related amortization that was previously included in the accumulated depreciation balance. As such, we no longer present right-of-use assets and related amortization in Schedule III - Real Estate and Accumulated Depreciation. See the "Reclassification" section of Note 2, "Significant Accounting Policies" for more information regarding this reclassification.

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- Definition The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 28 -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 970 -SubTopic 360 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478979/970-360-S99-1 + Details
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