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Investments in Non-controlled Entities | 6 Months Ended
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Jun. 30, 2014
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Non-controlled Entities | Investments in Non-controlled Entities On October 7, 2013, as part of the Offering and formation transactions, we acquired the assets and liabilities held by the four non-controlled entities. The investments in non-controlled entities consisted of the following at June 30, 2013:
Entity | Property | Nominal % Ownership
Empire State Building Company, L.L.C. | 350 Fifth Ave, New York, NY | 23.750 | %
1333 Broadway Associates, L.L.C. | 1333 Broadway, New York, NY | 50.000 | %
1350 Broadway Associates, L.L.C. | 1350 Broadway, New York, NY | 50.000 | %
501 Seventh Avenue Associates, L.L.C. | 501 Seventh Ave, New York, NY | 20.469 | %
Empire State Building Company, L.L.C. was the operating lessee of the property at 350 Fifth Avenue. The land and fee owner, Empire State Building Associates L.L.C., was a predecessor controlled entity whose operations are included in our predecessor's consolidated financial statements. 1333 Broadway Associates, L.L.C. owned the fee and leasehold positions at the same address. 1350 Broadway Associates, L.L.C. was the operating lessee of the property at the same address. 501 Seventh Avenue Associates L.L.C. was the operating lessee of the property at the same address. The fee owner, Seventh Avenue Building Associates L.L.C., was a predecessor controlled entity whose operations are included in our predecessor's consolidated financial statements. Our predecessor's share of income from these entities may have exceeded nominal ownership percentages based on the achievement of certain income thresholds as set forth in the relevant partnership agreements. The following table reflects the activity in our investments in non-controlled entities for the six months ended June 30, 2013 (amounts in thousands):
| 2013
Balance at beginning of year | $ | 76,879 |
Equity in net income | 7,898 |
Distributions | (2,262 | )
Balance at end of period | $ | 82,515 |
The following reflects summarized financial information of the non-controlled entities for the six months ended June 30, 2013 (amounts in thousands):
Statements of Operations | Empire State Building Co. |  | 1333 Broadway Associates |  | 1350 Broadway Associates |  | 501 Seventh Avenue Associates |  | Total
Revenue: |  |  |  |  |  |  |  |  |
Rental revenue and other | $ | 62,866 |  |  | $ | 7,062 |  |  | $ | 10,622 |  |  | $ | 8,865 |  |  | $ | 89,415 |
Observatory revenue | 44,052 |  |  | — |  |  | — |  |  | — |  |  | 44,052 |
Total revenue | 106,918 |  |  | 7,062 |  |  | 10,622 |  |  | 8,865 |  |  | 133,467 |
Expenses: |  |  |  |  |  |  |  |  |
Operating expenses—rental | 57,602 |  |  | 3,315 |  |  | 5,051 |  |  | 6,578 |  |  | 72,546 |
Operating expenses—overage rent | 14,424 |  |  | — |  |  | — |  |  | 450 |  |  | 14,874 |
Operating expenses—observatory | 10,669 |  |  | — |  |  | — |  |  | — |  |  | 10,669 |
Interest | — |  |  | 2,369 |  |  | 1,567 |  |  | — |  |  | 3,936 |
Depreciation and amortization | 7,287 |  |  | 1,459 |  |  | 2,157 |  |  | 761 |  |  | 11,664 |
Total expenses | 89,982 |  |  | 7,143 |  |  | 8,775 |  |  | 7,789 |  |  | 113,689 |
Net income (loss) | $ | 16,936 |  |  | $ | (81 | ) |  | $ | 1,847 |  |  | $ | 1,076 |  |  | $ | 19,778 |
Our predecessor's share of equity in net income (loss) of non-controlled entities | $ | 7,267 |  |  | $ | (41 | ) |  | $ | 803 |  |  | $ | (131 | ) |  | $ | 7,898 |
At June 30, 2014, we had no investments in non-controlled entities.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=7658923&loc=d3e32847-111569 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=7658923&loc=d3e32787-111569 + Details
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