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Investments in Unconsolidated Joint Ventures (Balance Sheets of the Unconsolidated Joint Ventures) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
ASSETS      
Total real estate $ 20,593,459 $ 19,496,442  
Total assets 26,026,149 24,207,669  
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Mortgage and notes payable, net 4,166,379 3,272,368  
Other Liabilities 445,947 450,918  
Members’/Partners’ equity 5,876,697 6,132,919  
Total liabilities and equity / capital 26,026,149 24,207,669  
Carying value of the Company's investment in unconsolidated joint ventures 1,377,319 1,715,911  
Right-of-use assets - finance leases 401,680 [1] 237,510  
Operating Lease, Right-of-Use Asset [1] 324,298 167,351  
Lease liabilities - finance leases 417,961 249,335  
Lease Liabilities - Operating Leases 350,391 204,686  
Sales-type lease receivable, net 13,953 13,028  
Unconsolidated Joint Ventures [Member]      
ASSETS      
Total real estate [2] 5,811,763 6,537,554  
Other assets 682,291 [3] 756,786  
Total assets 6,494,054 7,294,340  
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Mortgage and notes payable, net 3,351,873 4,022,746  
Other Liabilities [4] 361,357 716,271  
Members’/Partners’ equity 2,780,824 2,555,323  
Total liabilities and equity / capital 6,494,054 7,294,340  
Company's share of equity 1,278,483 1,238,929  
Basis differentials [5] 58,933 391,556  
Carying value of the Company's investment in unconsolidated joint ventures [6] 1,337,416 1,630,485  
Right-of-use assets - finance leases   248,900  
Operating Lease, Right-of-Use Asset 20,100 21,200  
Lease liabilities - finance leases   382,200  
Lease Liabilities - Operating Leases 30,500 30,500  
Impairment loss on investment (272,603) [7] (50,705) [7] $ 0
Gain on Unconsolidated Joint Venture Investment 35,756 [8] 0 $ 0
Sales-type lease receivable, net 13,900    
Unconsolidated Joint Ventures [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Other Liabilities 39,900 85,400  
Colorado Center      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Basis differentials 298,906 301,820  
Carying value of the Company's investment in unconsolidated joint ventures [9] 237,815 233,862  
200 Fifth Avenue JV LLC      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Basis differentials 58,308 94,497  
Carying value of the Company's investment in unconsolidated joint ventures [9] 75,718 120,083  
Impairment loss on investment 33,400    
200 Fifth Avenue JV LLC | Unconsolidated Joint Ventures [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Impairment loss on investment 33,400    
Gateway Commons Complex [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Basis differentials 48,971 47,808  
Carying value of the Company's investment in unconsolidated joint ventures [9] 376,834 324,038  
BP/CRF Metropolitan Square LLC [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Other Liabilities [9]   37,629  
Gain on Unconsolidated Joint Venture Investment 35,800    
Safeco Plaza REIT LLC      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Basis differentials (29,678) (15)  
Carying value of the Company's investment in unconsolidated joint ventures [9] 44,734 69,785  
Impairment loss on investment 29,900    
Safeco Plaza REIT LLC | Unconsolidated Joint Ventures [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Impairment loss on investment 29,900    
360 PAS Holdco LLC      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Basis differentials (116,534) 3,798  
Carying value of the Company's investment in unconsolidated joint ventures 42,988 114,992 [9]  
Impairment loss on investment 54,000    
360 PAS Holdco LLC | Unconsolidated Joint Ventures [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Impairment loss on investment 54,000    
Dock 72      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Other Liabilities [9] 11,890 19,921  
Basis differentials (95,521) (98,980)  
Platform 16      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Basis differentials (143,052) 7,108  
Carying value of the Company's investment in unconsolidated joint ventures [9] 45,564 $ 158,109  
Impairment loss on investment 155,200    
Platform 16 | Unconsolidated Joint Ventures [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Impairment loss on investment $ 155,200    
[1] See Note 4.
[2] At December 31, 2022, this amount included right of use assets - finance leases totaling approximately $248.9 million. At December 31, 2023 and December 31, 2022, this amount included right of use assets - operating leases totaling approximately $20.1 million and $21.2 million, respectively.
[3] At December 31, 2023, this amount included sales-type lease receivable, net totaling approximately $13.9 million.
[4] At December 31, 2022, this amount included lease liabilities - finance leases totaling approximately $382.2 million. At December 31, 2023 and December 31, 2022, this amount included lease liabilities - operating leases totaling approximately $30.5 million.
[5] This amount represents the aggregate difference between the Company’s historical cost basis and the basis reflected at the joint venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials
result from impairments of investments, acquisitions through joint ventures with no change in control and upon the transfer of assets that were previously owned by the Company into a joint venture. During the year ended December 31, 2023, the Company recognized an other-than-temporary impairment loss on its investments in Platform 16, 360 Park Avenue South, 200 Fifth Avenue and Safeco Plaza of approximately $155.2 million, $54.0 million, $33.4 million and $29.9 million, respectively, as well as a $35.8 million gain on investment related to Metropolitan Square, as described below in this Note 6. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the joint venture level. The majority of the Company’s basis differences are as follows:
December 31, 2023December 31, 2022
Property(in thousands)
Colorado Center$298,906 $301,820 
200 Fifth Avenue58,308 94,497 
Gateway Commons48,971 47,808 
Safeco Plaza(29,678)(15)
360 Park Avenue South(116,534)3,798 
Dock 72(95,521)(98,980)
Platform 16(143,052)7,108 
These basis differentials (excluding land) will be amortized over the remaining lives of the related assets and liabilities.
[6] Investments with deficit balances aggregating approximately $39.9 million and $85.4 million at December 31, 2023 and December 31, 2022, respectively, are reflected within Other Liabilities in the Company’s Consolidated Balance Sheets.
[7] During the year ended December 31, 2023, the Company recognized an other-than-temporary impairment loss on its investments in Platform 16, 360 Park Avenue South, 200 Fifth Avenue and Safeco Plaza of approximately $155.2 million, $54.0 million, $33.4 million and $29.9 million, respectively, as described below in this Note 6. During the year ended December 31, 2022, the Company recognized an other-than-temporary impairment loss on its investment in the unconsolidated joint venture that owns Dock 72 in Brooklyn, New York totaling approximately $50.7 million.
[8] During the year ended December 31, 2023, the Company completed a restructuring of its ownership in Metropolitan Square, as described below in this Note 6.
[9] Investments with deficit balances aggregating approximately $39.9 million and $85.4 million at December 31, 2023 and December 31, 2022, respectively, are included within Other Liabilities in the Company’s Consolidated Balance Sheets.