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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities    
Net income (loss) $ (3,191) $ 8,288
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 44,457 46,093
Amortization of non-cash items within interest expense 2,733 1,052
Amortization of acquired above- and below-market leases, net (654) (908)
Amortization of acquired below-market ground leases 1,958 1,958
Straight-lining of rental revenue (6,347) (8,193)
Equity based compensation 4,734 5,891
Loss on early extinguishment of debt 214 86
Increase (decrease) in cash flows due to changes in operating assets and liabilities:    
Security deposits (2,550) (17)
Tenant and other receivables 4,792 2,874
Deferred leasing costs (3,243) (4,118)
Prepaid expenses and other assets 26,755 24,869
Accounts payable and accrued expenses (3,302) (5,261)
Deferred revenue and other liabilities 7,044 (7,840)
Net cash provided by operating activities 73,400 64,774
Cash Flows From Investing Activities    
Development costs (98) (811)
Additions to building and improvements (20,714) (39,799)
Net cash used in investing activities (20,812) (40,610)
Cash Flows From Financing Activities    
Repayment of mortgage notes payable (1,008) (970)
Proceeds from unsecured senior notes 0 175,000
Proceeds from unsecured term loan 0 175,000
Repayment of unsecured term loan 0 (50,000)
Proceeds from unsecured revolving credit facility 0 550,000
Deferred financing costs (7,539) (3,610)
Repurchases of common units (3,533) (62,666)
Distributions (1,050) (32,651)
Net cash (used in) provided by financing activities (13,130) 750,103
Net increase in cash and cash equivalents and restricted cash 39,458 774,267
Cash and cash equivalents and restricted cash—beginning of period 567,939 271,597
Cash and cash equivalents and restricted cash—end of period 607,397 1,045,864
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 526,714 233,946
Restricted cash at beginning of period 41,225 37,651
Cash and cash equivalents at end of period 567,102 1,008,983
Restricted cash at end of period 40,295 36,881
Cash and cash equivalents and restricted cash 607,397 1,045,864
Supplemental disclosures of cash flow information:    
Cash paid for interest 19,239 17,081
Cash paid for income taxes 13 898
Non-cash investing and financing activities:    
Building and improvements included in accounts payable and accrued expenses 60,536 78,107
Write-off of fully depreciated assets 4,853 13,932
Derivative instruments at fair values included in accounts payable and accrued expenses 7,450 30,387
Conversion of limited partners' operating partnership units to ESRT partner's capital 2,662 7,562
Issuance of Series 2019 private perpetual preferred in exchange for common units $ 0 $ 789