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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities    
Net income $ 38,770 $ 48,649
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 93,554 93,688
Gain on disposition of property (10,803) (29,261)
Amortization of non-cash items within interest expense 4,289 4,521
Amortization of acquired above- and below-market leases, net (1,027) (1,378)
Amortization of acquired below-market ground leases 3,916 3,916
Straight-lining of rental revenue (4,961) (12,415)
Equity based compensation 9,837 9,743
Loss on early extinguishment of debt 553 0
Increase (decrease) in cash flows due to changes in operating assets and liabilities:    
Security deposits (9,639) 15,326
Tenant and other receivables 3,648 (8,708)
Deferred leasing costs (14,377) (9,316)
Prepaid expenses and other assets (7,163) 957
Accounts payable and accrued expenses 4,328 (9,324)
Deferred revenue and other liabilities (2,875) (492)
Net cash provided by operating activities 108,050 105,906
Cash Flows From Investing Activities    
Acquisition of non-controlling interests in other partnerships (14,226) 0
Reduction of cash from derecognition of assets (12,876) 0
Net proceeds from disposition of property 0 88,910
Post-closing costs from a prior period sale of property (4,034) 0
Development costs (9) 0
Additions to building and improvements (96,517) (76,166)
Net cash (used in) provided by investing activities (127,662) 12,744
Cash Flows From Financing Activities    
Repayment of mortgage notes payable (2,961) (4,270)
Proceeds from unsecured senior notes 225,000 0
Proceeds from unsecured term loan 95,000 0
Repayment of unsecured term loan (215,000) 0
Proceeds from unsecured revolving credit facility 120,000 0
Deferred financing costs (11,636) 0
Contributions from consolidated joint ventures 0 112
Repurchases of common units 0 (13,105)
Distributions (21,199) (20,257)
Net cash provided by (used in) financing activities 189,204 (37,520)
Net increase (decrease) in cash and cash equivalents and restricted cash 169,592 81,130
Cash and cash equivalents and restricted cash—beginning of period 406,956 314,678
Cash and cash equivalents and restricted cash—end of period 576,548 395,808
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 346,620 264,434
Restricted cash at beginning of period 60,336 50,244
Cash and cash equivalents at end of period 535,533 315,357
Restricted cash at end of period 41,015 80,451
Cash and cash equivalents and restricted cash 576,548 395,808
Supplemental disclosures of cash flow information:    
Cash paid for interest 43,392 46,116
Cash paid for income taxes 1,260 405
Non-cash investing and financing activities:    
Building and improvements included in accounts payable and accrued expenses 48,510 38,677
Write-off of fully depreciated assets 5,359 21,182
Derivative instruments at fair values included in prepaid expenses and other assets 16,239 19,329
Contract asset 166,955 0
Debt associated with property in receivership 177,667 0
Accrued interest associated with property in receivership 1,589 0
Conversion of operating partnership units to ESRT partner's capital $ 9,098 $ 5,019