Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Schedule of Identified Intangible Assets and Intangible Liabilities

The following summarizes our identified intangible assets (acquired above-market leases and in-place leases) and intangible liabilities (acquired below-market leases) as of September 30, 2024 and December 31, 2023 (in thousands):

	September 30, 2024		December 31, 2023
Identified intangible assets (included in other assets):
Gross amount	$	273,010	$	189,680
Accumulated amortization	(193,327)		(184,902)
Net	$	79,683	$	4,778
Identified intangible liabilities (included in deferred revenue):
Gross amount	$	226,034	$	205,394
Accumulated amortization	(203,459)		(202,089)
Net	$	22,575	$	3,305

Schedule of Marketable Securities

As of September 30, 2024 and December 31, 2023, we held the following marketable securities (in thousands):

	September 30, 2024		December 31, 2023
Commercial mortgage-backed securities	$	16,522	$	9,591
Total investment in marketable securities	$	16,522	$	9,591

Schedule of Properties Contributed of Annualized Cash Rent

For the three months ended September 30, 2024, the following properties contributed more than 5.0% of our annualized cash rent from office properties, including our share of annualized cash rent from joint venture office properties:

Property	Three months ended September 30, 2024
One Vanderbilt Avenue	17.2%
11 Madison Avenue	8.7%
420 Lexington Ave	7.0%
1515 Broadway	6.7%
245 Park Avenue	6.0%
1185 Avenue of the Americas	5.9%
280 Park Avenue	5.1%

Schedule of Real Estate CMBS Securitization Trusts

As of September 30, 2024 and December 31, 2023, we consolidated the following CMBS securitization trusts (in thousands):

	September 30, 2024					December 31, 2023				Maturity
Type	Fair Value (1)			Principal Value		Fair Value		Principal Value
Real estate loans held by consolidated securitization vehicles	$	713,218	(2)	$	894,000	$	—	$	—	2023 - 2024	(3)
Senior obligations of consolidated securitization vehicles	603,902		(4)	703,675		—		—		2023 - 2024	(3)
Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles	$	109,316		$	190,325	$	—	$	—

(1)Includes $126.4 million and $32.2 million of assets and liabilities, respectively, for a loan that is on non-accrual and is accounted for on an amortized cost basis.

(2)Includes $3.4 million of accrued interest income.

(3)The Company is in discussions with the respective borrowers on the resolution of the past maturities.

(4)Includes $2.3 million of accrued interest expense.