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Revenues | 12 Months Ended
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Dec. 31, 2024
Revenues. |
Revenues |
10. | Revenues
Revenues from contracts with customers (excluding lease-related revenues) are recognized when control of the promised goods or services is transferred to the Company’s customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The following presents the Company’s revenues disaggregated by revenue source: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
in thousands |  | 2024 |  | 2023 |  | 2022
Revenues from contracts with customers |  | ​ |  | ​ | ​ |  |  | ​ |
Recognized at a point in time or over time |  | ​ |  | ​ | ​ |  |  | ​ |
Sponsorships, events, and entertainment revenue | ​ | $ | 56,153 | ​ | $ | 60,623 | ​ | $ | 55,724
Other revenue (a) | ​ |  | 92 | ​ |  | 8 | ​ |  | 947
Total | ​ |  | 56,245 | ​ |  | 60,631 | ​ |  | 56,671
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Recognized at a point in time | ​ |  |  | ​ |  |  | ​ |  |
Hospitality revenue | ​ |  | 29,528 | ​ |  | 32,951 | ​ |  | 42,565
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Rental and lease-related revenues | ​ |  |  | ​ |  |  | ​ |  |
Rental revenue | ​ |  | 25,363 | ​ |  | 22,096 | ​ |  | 19,810
Total revenues | ​ | $ | 111,136 | ​ | $ | 115,678 | ​ | $ | 119,046
(a) Other revenue in 2022 primarily relates to parking revenue at 250 Water Street prior to the start of initial foundation and voluntary site remediation work in the second quarter of 2022. ​ Contract Assets and Liabilities Contract assets are the Company’s right to consideration in exchange for goods or services that have been transferred to a customer, excluding any amounts presented as a receivable. Contract liabilities are the Company’s obligation to transfer goods or services to a customer for which the Company has received consideration. There were no contract assets for the periods presented. The contract liabilities primarily relate to deferred Aviators and Seaport concert series ticket sales and sponsorship revenues. The beginning and ending balances of contract liabilities and significant activity during the periods presented are as follows: ​
​ | ​ | ​ | ​
​ |  | Contract
in thousands | ​ | Liabilities
​ | ​ | ​ | ​
Balance at December 31, 2021 | ​ | $ | 6,127
Consideration earned during the period | ​ |  | (41,664)
Consideration received during the period | ​ |  | 40,277
Balance at December 31, 2022 | ​ | $ | 4,740
​ | ​ | ​ | ​
Balance at December 31, 2022 | ​ | $ | 4,740
Consideration earned during the period | ​ |  | (42,195)
Consideration received during the period | ​ |  | 41,162
Balance at December 31, 2023 | ​ | $ | 3,707
​ | ​ | ​ | ​
Balance at December 31, 2023 | ​ | $ | 3,707
Consideration earned during the period | ​ |  | (43,839)
Consideration received during the period | ​ |  | 44,078
Balance at December 31, 2024 | ​ | $ | 3,946
​ Remaining Unsatisfied Performance Obligation The Company’s remaining unsatisfied performance obligations represent a measure of the total dollar value of work to be performed on contracts executed and in progress. These performance obligations primarily relate to the completion of the 2025 Aviators baseball season and 2025 concert series, as well as performance under various sponsorship agreements. The aggregate amount of the transaction price allocated to the Company’s remaining unsatisfied performance obligations from contracts with customers as of December 31, 2024, is $16.4 million. The Company expects to recognize this amount as revenue over the following periods: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Less than 1 |  | ​ | ​ | ​ | 3 years and |  | ​
in thousands | ​ | year | ​ | 1-2 years | ​ | thereafter | ​ | Total
Total remaining unsatisfied performance obligations | ​ | $ | 8,019 | ​ | $ | 2,890 | ​ | $ | 5,474 | ​ | $ | 16,383
​ The Company’s remaining performance obligations are adjusted to reflect any known contract cancellations, revisions to customer agreements, and deferrals, as appropriate. During the year ended December 31, 2024, no customers accounted for greater than 10% of the Company’s revenue. For the year ended December 31, 2023, revenue from one customer accounted for approximately 10.1% of the Company’s total revenue, respectively, through a related-party transaction. See Note 14 – Related-Party Transactions for additional information. For the year ended December 31, 2022, no customers accounted for greater than 10% of the Company’s revenue.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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