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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2014
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following tables provides components of segment profit for each segment for the years ended December 31, 2014, 2013 and 2012, as reviewed by management (amounts in thousands):
|  | 2014
|  | Real Estate |  | Observatory |  | Other |  | Intersegment Elimination |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |
Rental revenue |  | $ | 400,825 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 400,825 |
Intercompany rental revenue |  | 69,293 |  |  | — |  |  | — |  |  | (69,293 | ) |  | — |
Tenant expense reimbursement |  | 67,651 |  |  | — |  |  | — |  |  | — |  |  | 67,651 |
Observatory revenue |  | — |  |  | 111,541 |  |  | — |  |  | — |  |  | 111,541 |
Construction revenue |  | — |  |  | — |  |  | 44,989 |  |  | (6,341 | ) |  | 38,648 |
Third-party management and other fees |  | 2,376 |  |  | — |  |  | — |  |  | — |  |  | 2,376 |
Other revenue and fees |  | 13,280 |  |  | 982 |  |  | 23 |  |  | — |  |  | 14,285 |
Total revenues |  | 553,425 |  |  | 112,523 |  |  | 45,012 |  |  | (75,634 | ) |  | 635,326 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Property operating expenses |  | 151,048 |  |  | — |  |  | — |  |  | — |  |  | 151,048 |
Intercompany rent expense |  | — |  |  | 69,293 |  |  | — |  |  | (69,293 | ) |  | — |
Ground rent expense |  | 5,339 |  |  | — |  |  | — |  |  | — |  |  | 5,339 |
Marketing, general, and administrative expenses |  | 39,037 |  |  | — |  |  | — |  |  | — |  |  | 39,037 |
Observatory expenses |  | — |  |  | 29,041 |  |  | — |  |  | — |  |  | 29,041 |
Construction expenses |  | — |  |  | — |  |  | 44,185 |  |  | (5,589 | ) |  | 38,596 |
Real estate taxes |  | 82,131 |  |  | — |  |  | — |  |  | — |  |  | 82,131 |
Acquisition expenses |  | 3,382 |  |  | — |  |  | — |  |  | — |  |  | 3,382 |
Depreciation and amortization |  | 145,121 |  |  | 295 |  |  | 15 |  |  | — |  |  | 145,431 |
Total operating expenses |  | 426,058 |  |  | 98,629 |  |  | 44,200 |  |  | (74,882 | ) |  | 494,005 |
Total operating income (loss) |  | 127,367 |  |  | 13,894 |  |  | 812 |  |  | (752 | ) |  | 141,321 |
Interest expense |  | (66,456 | ) |  | — |  |  | — |  |  | — |  |  | (66,456 | )
Income (loss) before income taxes |  | 60,911 |  |  | 13,894 |  |  | 812 |  |  | (752 | ) |  | 74,865 |
Income tax expense |  | (1,437 | ) |  | (2,876 | ) |  | (342 | ) |  | — |  |  | (4,655 | )
Net income (loss) |  | $ | 59,474 |  |  | $ | 11,018 |  |  | $ | 470 |  |  | $ | (752 | ) |  | $ | 70,210 |
Segment assets |  | $ | 3,036,087 |  |  | $ | 252,376 |  |  | $ | 8,032 |  |  | $ | — |  |  | $ | 3,296,495 |
Expenditures for segment assets |  | $ | 497,645 |  |  | $ | 99 |  |  | $ | — |  |  |  |  | $ | 497,744 |
|  | Period from October 7, 2013 through December 31, 2013
|  | Real Estate |  | Observatory |  | Other |  | Intersegment Elimination |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |
Rental revenue |  | $ | 79,987 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 79,987 |
Intercompany rental revenue |  | 20,134 |  |  | — |  |  | — |  |  | (20,134 | ) |  |
Tenant expense reimbursement |  | 15,836 |  |  | — |  |  | — |  |  | — |  |  | 15,836 |
Observatory revenue |  | — |  |  | 23,735 |  |  | — |  |  | — |  |  | 23,735 |
Construction revenue |  | — |  |  | — |  |  | 6,801 |  |  | (1,536 | ) |  | 5,265 |
Third-party management and other fees |  | 550 |  |  | — |  |  | — |  |  | — |  |  | 550 |
Other revenue and fees |  | 2,211 |  |  | — |  |  | — |  |  | (1 | ) |  | 2,210 |
Total revenues |  | 118,718 |  |  | 23,735 |  |  | 6,801 |  |  | (21,671 | ) |  | 127,583 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Property operating expenses |  | 34,055 |  |  | — |  |  | — |  |  | — |  |  | 34,055 |
Intercompany rent expense |  | — |  |  | 20,134 |  |  | — |  |  | (20,134 | ) |  |
Ground rent expense |  | 398 |  |  | — |  |  | — |  |  | — |  |  | 398 |
Marketing, general, and administrative expenses |  | 16,375 |  |  | — |  |  | — |  |  | 4 |  |  | 16,379 |
Observatory expenses |  | — |  |  | 5,687 |  |  | — |  |  | — |  |  | 5,687 |
Construction expenses |  | — |  |  | — |  |  | 6,792 |  |  | (1,324 | ) |  | 5,468 |
Real estate taxes |  | 17,191 |  |  | — |  |  | — |  |  | — |  |  | 17,191 |
Acquisition expenses |  | 138,140 |  |  | — |  |  | — |  |  | — |  |  | 138,140 |
Depreciation and amortization |  | 27,376 |  |  | 4 |  |  | 5 |  |  | (10 | ) |  | 27,375 |
Total operating expenses |  | 233,535 |  |  | 25,825 |  |  | 6,797 |  |  | (21,464 | ) |  | 244,693 |
Total operating income (loss) |  | (114,817 | ) |  | (2,090 | ) |  | 4 |  |  | (207 | ) |  | (117,110 | )
Other income (expense): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (13,147 | ) |  | — |  |  | — |  |  | — |  |  | (13,147 | )
Gain on consolidation of non-controlled entities |  | 322,563 |  |  | — |  |  | — |  |  | — |  |  | 322,563 |
Income (loss) before income taxes |  | 194,599 |  |  | (2,090 | ) |  | 4 |  |  | (207 | ) |  | 192,306 |
Income tax benefit |  | — |  |  | 1,125 |  |  | — |  |  | — |  |  | 1,125 |
Net income (loss) |  | $ | 194,599 |  |  | $ | (965 | ) |  | $ | 4 |  |  | $ | (207 | ) |  | $ | 193,431 |
Segment assets |  | $ | 2,218,143 |  |  | $ | 249,084 |  |  | $ | 8,834 |  |  | $ | — |  |  | $ | 2,476,061 |
Expenditures for segment assets |  | $ | 56,434 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 56,434 |
|  | Period from January 1, 2013 through October 6, 2013
|  | Real Estate |  | Other |  | Intersegment Elimination |  | Total
Revenues: |  |  |  |  |  |  |  |
Rental revenue |  | $ | 148,690 |  |  | $ | — |  |  | $ | — |  |  | $ | 148,690 |
Intercompany rental revenue |  | 56 |  |  | — |  |  | (56 | ) |  |
Tenant expense reimbursement |  | 21,272 |  |  | — |  |  | — |  |  | 21,272 |
Construction revenue |  | — |  |  | 25,473 |  |  | (6,837 | ) |  | 18,636 |
Third-party management and other fees |  | 5,067 |  |  | — |  |  | — |  |  | 5,067 |
Other revenue and fees |  | 12,407 |  |  | — |  |  | — |  |  | 12,407 |
Total revenues |  | 187,492 |  |  | 25,473 |  |  | (6,893 | ) |  | 206,072 |
Operating expenses: |  |  |  |  |  |  |  |
Property operating expenses |  | 41,297 |  |  | — |  |  | — |  |  | 41,297 |
Marketing, general, and administrative expenses |  | 23,600 |  |  | — |  |  | — |  |  | 23,600 |
Construction expenses |  | — |  |  | 25,824 |  |  | (6,003 | ) |  | 19,821 |
Real estate taxes |  | 24,331 |  |  | — |  |  | — |  |  | 24,331 |
Formation transaction expenses |  | 4,507 |  |  | — |  |  | — |  |  | 4,507 |
Depreciation and amortization |  | 38,963 |  |  | 19 |  |  | (19 | ) |  | 38,963 |
Total operating expenses |  | 132,698 |  |  | 25,843 |  |  | (6,022 | ) |  | 152,519 |
Total operating income (loss) |  | 54,794 |  |  | (370 | ) |  | (871 | ) |  | 53,553 |
Other income (expense): |  |  |  |  |  |  |  |
Equity in net income of non-controlled entities |  | 14,875 |  |  | — |  |  | — |  |  | 14,875 |
Interest expense |  | (50,660 | ) |  | — |  |  | — |  |  | (50,660 | )
Settlement expense |  | (55,000 | ) |  | — |  |  | — |  |  | (55,000 | )
Net loss |  | $ | (35,991 | ) |  | $ | (370 | ) |  | $ | (871 | ) |  | $ | (37,232 | )
Segment assets |  | $ | 1,023,333 |  |  | $ | 10,585 |  |  | $ | — |  |  | $ | 1,033,918 |
Investment in non-controlled entities |  | $ | 88,304 |  |  | $ | — |  |  | $ | — |  |  | $ | 88,304 |
Expenditures for segment assets |  | $ | 55,820 |  |  | $ | 130 |  |  | $ | — |  |  | $ | 55,950 |
|  | 2012
|  | Real Estate |  | Other |  | Intersegment Elimination |  | Total
Revenues: |  |  |  |  |  |  |  |
Rental revenue |  | $ | 196,187 |  |  | $ | — |  |  | $ | — |  |  | $ | 196,187 |
Intercompany rental revenue |  | 74 |  |  | — |  |  | (74 | ) |  | — |
Tenant expense reimbursement |  | 29,483 |  |  | — |  |  | — |  |  | 29,483 |
Construction revenue |  | — |  |  | 24,616 |  |  | (5,714 | ) |  | 18,902 |
Third-party management and other fees |  | 5,103 |  |  | — |  |  | — |  |  | 5,103 |
Other revenue and fees |  | 10,619 |  |  | — |  |  | — |  |  | 10,619 |
Total revenues |  | 241,466 |  |  | 24,616 |  |  | (5,788 | ) |  | 260,294 |
Operating expenses: |  |  |  |  |  |  |  |
Property operating expenses |  | 55,442 |  |  | — |  |  | 265 |  |  | 55,707 |
Marketing, general, and administrative expenses |  | 20,963 |  |  | — |  |  | — |  |  | 20,963 |
Construction expenses |  | — |  |  | 24,734 |  |  | (5,142 | ) |  | 19,592 |
Real estate taxes |  | 30,406 |  |  | — |  |  | — |  |  | 30,406 |
Formation transaction expenses |  | 2,247 |  |  | — |  |  | — |  |  | 2,247 |
Depreciation and amortization |  | 42,661 |  |  | 29 |  |  | — |  |  | 42,690 |
Total operating expenses |  | 151,719 |  |  | 24,763 |  |  | (4,877 | ) |  | 171,605 |
Total operating income (loss) |  | 89,747 |  |  | (147 | ) |  | (911 | ) |  | 88,689 |
Other income (expense): |  |  |  |  |  |  |  |
Equity in net income of non-controlled entities |  | 14,348 |  |  | — |  |  | — |  |  | 14,348 |
Interest expense |  | (54,394 | ) |  | — |  |  | — |  |  | (54,394 | )
Net income |  | $ | 49,701 |  |  | $ | (147 | ) |  | $ | (911 | ) |  | $ | 48,643 |
Segment assets |  | $ | 964,160 |  |  | $ | 11,514 |  |  | $ | — |  |  | $ | 975,674 |
Investment in non-controlled entities |  | $ | 76,879 |  |  | $ | — |  |  | $ | — |  |  | $ | 76,879 |
Expenditures for segment assets |  | $ | 87,659 |  |  | $ | — |  |  | $ | — |  |  | $ | 87,659 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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