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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Holdings TRS and Observatory TRS are taxable entities and their consolidated provision for income taxes consisted of the following:

			Year Ended December 31,
(amounts in thousands)			2024						2023						2022
Current:
Federal			$	(1,044)					$	(783)					$	(319)
State and local			(1,368)						(695)						(227)
Total current			(2,412)						(1,478)						(546)
Deferred:
Federal			(297)						(710)						(264)
State and local			21						(527)						(736)
Total deferred			(276)						(1,237)						(1,000)
Income tax expense			$	(2,688)					$	(2,715)					$	(1,546)

Schedule of Actual Tax Provision Differed From Federal Statutory Corporate Rate

The actual tax provision differed from that computed at the federal statutory corporate rate as follows:

			Year Ended December 31,
(amounts in thousands)			2024						2023						2022
Federal tax expense at statutory rate			$	(1,341)					$	(1,494)					$	(583)
State income tax expense, net of federal benefit			(1,347)						(1,221)						(963)
Income tax expense			$	(2,688)					$	(2,715)					$	(1,546)

Schedule of Deferred Tax Assets

The income tax effects of temporary differences that give rise to deferred tax assets are presented below as of December 31, 2024 and 2023:

			December 31,
(amounts in thousands)			2024						2023
Deferred tax assets:
Deferred revenue on unredeemed Observatory admission ticket sales			$	676					$	616
Federal net operating loss carryforward credit			—						328
New York State net operating loss carryforward credit			—						—
New York City net operating loss carryforward credit			—						—
Other deferred tax assets			253						161
Deferred tax assets			$	929					$	1,105

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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