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Segment Reporting
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We have identified two reportable segments: (1) real estate and (2) Observatory. Our real estate segment includes all activities related to the ownership, management, operation, acquisition, redevelopment, repositioning and disposition of our traditional real estate assets. Our Observatory segment operates the 86th and 102nd floor observatories at the Empire State Building. These two lines of businesses are managed separately because each business requires different support infrastructures, provides different services and has dissimilar economic characteristics such as investments needed, stream of revenues and marketing strategies. We account for intersegment sales and rents as if the sales or rents were to third parties, that is, at current market prices.
The following tables provide components of segment net income for each segment for the three and six months ended June 30, 2024 and 2023 (amounts in thousands):
Three Months Ended June 30, 2024
Real EstateObservatoryIntersegment EliminationTotal
Revenues:
Rental revenue$152,470 $— $— $152,470 
Intercompany rental revenue20,980 — (20,980)— 
Observatory revenue— 34,124 — 34,124 
Third-party management and other fees376 — — 376 
Other revenue and fees2,573 — — 2,573 
Total revenues176,399 34,124 (20,980)189,543 
Operating expenses:
Property operating expenses41,516 — — 41,516 
Intercompany rent expense— 20,980 (20,980)— 
Ground rent expenses2,332 — — 2,332 
General and administrative expenses18,020 — — 18,020 
Observatory expenses— 8,958 — 8,958 
Real estate taxes31,883 — — 31,883 
Depreciation and amortization47,441 32 — 47,473 
Total operating expenses141,192 29,970 (20,980)150,182 
Total operating income35,207 4,154 — 39,361 
Other income (expense):
Interest income5,011 81 — 5,092 
Interest expense(25,323)— — (25,323)
Interest expense associated with property in receivership(628)— — (628)
Loss on early extinguishment of debt— — — — 
Gain on disposition of property10,803 — — 10,803 
 Income before income taxes25,070 4,235 — 29,305 
Income tax expense(208)(542)— (750)
Net income$24,862 $3,693 $— $28,555 
Segment assets$4,171,251 $261,999 $— $4,433,250 
Expenditures for segment assets$17,526 $105 $— $17,631 
Three Months Ended June 30, 2023
Real EstateObservatoryIntersegment EliminationTotal
Revenues:
Rental revenue$154,603 $— $— $154,603 
Intercompany rental revenue20,942 — (20,942)— 
Observatory revenue— 33,433 — 33,433 
Third-party management and other fees381 — — 381 
Other revenue and fees2,125 — — 2,125 
Total revenues178,051 33,433 (20,942)190,542 
Operating expenses:
Property operating expenses39,519 — — 39,519 
Intercompany rent expense— 20,942 (20,942)— 
Ground rent expenses2,332 — — 2,332 
General and administrative expenses16,075 — — 16,075 
Observatory expenses— 8,657 — 8,657 
Real estate taxes31,490 — — 31,490 
Depreciation and amortization46,237 43 — 46,280 
Total operating expenses135,653 29,642 (20,942)144,353 
Total operating income42,398 3,791 — 46,189 
Other income (expense):
Interest income3,289 50 — 3,339 
Interest expense(25,405)— — (25,405)
Gain on disposition of property13,565 — — 13,565 
 Income before income taxes33,847 3,841 — 37,688 
Income tax expense(197)(536)— (733)
Net income$33,650 $3,305 $— $36,955 
Segment assets$3,928,943 $255,825 $— $4,184,768 
Expenditures for segment assets$32,908 $— $— $32,908 
Six Months Ended June 30, 2024
Real EstateObservatoryIntersegment EliminationTotal
Revenues:
Rental revenue$306,352 $— $— $306,352 
Intercompany rental revenue37,047 — (37,047)— 
Observatory revenue— 58,720 — 58,720 
Third-party management and other fees641 — — 641 
Other revenue and fees5,009 — — 5,009 
Total revenues349,049 58,720 (37,047)370,722 
Operating expenses:
Property operating expenses86,576 — — 86,576 
Intercompany rent expense— 37,047 (37,047)— 
Ground rent expenses4,663 — — 4,663 
General and administrative expenses33,992 — — 33,992 
Observatory expenses— 17,389 — 17,389 
Real estate taxes64,124 — — 64,124 
Depreciation and amortization93,485 69 — 93,554 
Total operating expenses282,840 54,505 (37,047)300,298 
Total operating income66,209 4,215 — 70,424 
Other income (expense):
Interest income9,151 119 — 9,270 
Interest expense(50,451)— — (50,451)
Interest expense associated with property in receivership(628)— — (628)
Loss on early extinguishment of debt(553)— — (553)
Gain on disposition of property10,803 — — 10,803 
 Income before income taxes34,531 4,334 — 38,865 
Income tax (expense) benefit(321)226 — (95)
Net income$34,210 $4,560 $— $38,770 
Expenditures for segment assets$37,632 $144 $— $37,776 
Six Months Ended June 30, 2023
Real EstateObservatoryIntersegment EliminationTotal
Revenues:
Rental revenue$294,694 $— $— $294,694 
Intercompany rental revenue36,856 — (36,856)— 
Observatory revenue— 55,587 — 55,587 
Third-party management and other fees808 — — 808 
Other revenue and fees4,075 — — 4,075 
Total revenues336,433 55,587 (36,856)355,164 
Operating expenses:
Property operating expenses81,563 — — 81,563 
Intercompany rent expense— 36,856 (36,856)— 
Ground rent expenses4,663 — — 4,663 
General and administrative expenses31,783 — — 31,783 
Observatory expenses— 16,512 — 16,512 
Real estate taxes63,278 — — 63,278 
Depreciation and amortization93,601 87 — 93,688 
Total operating expenses274,888 53,455 (36,856)291,487 
Total operating income61,545 2,132 — 63,677 
Other income (expense):
Interest income5,847 87 — 5,934 
Interest expense(50,709)— — (50,709)
Gain on disposition of property29,261 — — 29,261 
 Income before income taxes45,944 2,219 — 48,163 
Income tax (expense) benefit(395)881 — 486 
Net income$45,549 $3,100 $— $48,649 
Expenditures for segment assets$35,576 $58 $— $35,634