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Noncontrolling Interests | 12 Months Ended
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Dec. 31, 2024
Noncontrolling Interest [Abstract] |
Noncontrolling Interests | 11. Noncontrolling Interests Consolidated Joint Ventures Noncontrolling interests in consolidated joint ventures consist of equity interests held by third parties in 1633 Broadway, One Market Plaza and 300 Mission Street. As of December 31, 2024 and 2023, noncontrolling interests in our consolidated joint ventures aggregated $495,340,000 and $413,925,000, respectively. Consolidated Real Estate Related Funds Noncontrolling interests in our consolidated real estate related funds consist of equity interests held by third parties in our RDF and Fund X. As of December 31, 2024 and 2023, the noncontrolling interests in our consolidated real estate related funds aggregated $82,875,000 and $110,589,000, respectively. Operating Partnership Noncontrolling interests in the Operating Partnership represent common units of the Operating Partnership that are held by third parties, including management, and units issued to management under equity incentive plans. Common units of the Operating Partnership may be tendered for redemption to the Operating Partnership for cash. We, at our option, may assume that obligation and pay the holder either cash or common shares on a one-for-one basis. Since the number of common shares outstanding is equal to the number of common units owned by us, the redemption value of each common unit is equal to the market value of each common share and distributions paid to each common unitholder is equivalent to dividends paid to common stockholders. As of December 31, 2024 and 2023, noncontrolling interests in the Operating Partnership on our consolidated balance sheets had a carrying amount of $290,005,000 and $287,089,000, respectively, and a redemption value of $99,085,000 and $100,650,000, respectively, based on the closing share price of our common stock on the New York Stock Exchange at the end of each year.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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- References No definition available. + Details
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