Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2024

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

Column A	Column B		Column C Initial Cost				Column D Cost Capitalized Subsequent To Acquisition (1)				Column E Gross Amount at Which Carried at Close of Period						Column F		Column G	Column H	Column I
Description (2)	Encumbrances		Land		Building & Improvements		Land		Building & Improvements		Land		Building & Improvements		Total		Accumulated Depreciation		Date of Construction	Date Acquired	Life on  Which Depreciation is Computed
420 Lexington Ave	$	272,326	$	—	$	333,499	$	—	$	79,607	$	—	$	413,106	$	413,106	$	233,848	1927	3/1998	Various
711 Third Avenue	—		19,844		115,769		—		16,578		19,844		132,347		152,191		84,768		1955	5/1998	Various
555 W. 57th Street	—		18,846		140,946		—		21,526		18,846		162,472		181,318		103,967		1971	1/1999	Various
461 Fifth Avenue	—		—		88,276		28,873		15,200		28,873		103,476		132,349		49,460		1988	10/2003	Various
750 Third Avenue	—		51,093		251,523		—		114,773		51,093		366,296		417,389		115,992		1958	7/2004	Various
485 Lexington Avenue	450,000		78,282		452,631		—		(4,635)		78,282		447,996		526,278		217,606		1956	12/2004	Various
810 Seventh Avenue	—		114,077		550,819		—		13,809		114,077		564,628		678,705		252,324		1970	1/2007	Various
1185 Avenue of the Americas	—		—		791,106		—		46,785		—		837,891		837,891		418,159		1969	1/2007	Various
1350 Avenue of the Americas	—		90,941		431,517		—		26,318		90,941		457,835		548,776		211,252		1966	1/2007	Various
1-6 Landmark Square (3)	100,000		27,852		161,343		(6,939)		(13,804)		20,913		147,539		168,452		51,883		1973-1984	1/2007	Various
7 Landmark Square (3)	—		1,721		8,417		(1,338)		(6,235)		383		2,182		2,565		783		2007	1/2007	Various
100 Church Street	370,000		34,994		183,932		—		16,674		34,994		200,606		235,600		84,431		1959	1/2010	Various
125 Park Avenue	—		120,900		270,598		—		30,032		120,900		300,630		421,530		139,949		1923	10/2010	Various
19 East 65th Street	—		8,603		2,074		—		4,990		8,603		7,064		15,667		10		1929	1/2012	Various
304 Park Avenue	—		54,489		90,643		—		12,056		54,489		102,699		157,188		36,859		1930	6/2012	Various
760 Madison Avenue	—		284,286		8,314		(2,748)		165,708		281,538		174,022		455,560		5,315		1996/2012	7/2014	Various
110 Greene Street	—		45,120		228,393		—		4,741		45,120		233,134		278,254		64,093		1910	7/2015	Various
7 Dey / 185 Broadway	190,148		45,540		27,865		—		209,670		45,540		237,535		283,075		21,860		1921	8/2015	Various
885 Third Avenue (4)	—		138,444		244,040		(138,444)		(119,024)		—		125,016		125,016		15,506		1986	7/2020	Various
690 Madison	—		13,820		51,732		(7,985)		(27,336)		5,835		24,396		30,231		5,132		1879	9/2021	Various
100 Park Avenue (5)	360,000		230,891		133,269		—		—		230,891		133,269		364,160		—		1950	2/2000	Various
10 East 53rd Street (5)	205,000		104,143		62,470		—		—		104,143		62,470		166,613		4,710		1971	2/2012	Various
Other (6)	—		20,637		16,224		(18,901)		(2,133)		1,736		14,091		15,827		8,174
Total	$	1,947,474	$	1,504,523	$	4,645,400	$	(147,482)	$	605,300	$	1,357,041	$	5,250,700	$	6,607,741	$	2,126,081

(1)Includes depreciable real estate reserves and impairments recorded subsequent to acquisition.

(2)All properties located in New York, New York, unless otherwise noted.

(3)Property located in Connecticut.

(4)In December 2022, the Company sold 414,317 square feet of office leasehold condominium units at the property. The Company retained the remaining 218,796 square feet of the building.

(5)Initial cost is the fair value that was determined upon consolidation of these investments in 2024.

(6)Other includes tenant improvements of eEmerge, capitalized interest and corporate improvements.

The changes in real estate for the years ended December 31, 2024, 2023 and 2022 are as follows (in thousands):

	Year Ended December 31,
	2024		2023		2022
Balance at beginning of year	$	6,102,864	$	9,198,799	$	7,650,907
Property acquisitions	—		—		1,900,042
Improvements	199,416		241,213		335,413
Retirements/disposals/deconsolidation	305,461		(2,383,912)		(687,563)
Reclassification (1)	—		(953,236)		—
Balance at end of year	$	6,607,741	$	6,102,864	$	9,198,799

The aggregate cost of land, buildings and improvements, before depreciation, for Federal income tax purposes as of December 31, 2024 was $4.9 billion (unaudited).

The changes in accumulated depreciation, exclusive of amounts relating to equipment, autos, and furniture and fixtures, for the years ended December 31, 2024, 2023 and 2022 are as follows (in thousands):

	Year Ended December 31,
	2024		2023		2022
Balance at beginning of year	$	1,968,004	$	2,039,554	$	1,896,199
Depreciation for year	171,744		199,576		175,465
Retirements/disposals/deconsolidation	(13,667)		(203,819)		(32,110)
Reclassification (1)	—		(67,307)
Balance at end of year	$	2,126,081	$	1,968,004	$	2,039,554

(1) Beginning in the second quarter of 2024, we reclassified amounts recorded for certain right-of-use assets classified as operating leases from a gross presentation above accumulated depreciation to a net presentation below accumulated depreciation in our consolidated balance sheets. This includes reclassifying the related amortization that was previously included in the accumulated depreciation balance. As such, we no longer present right-of-use assets and related amortization in Schedule III - Real Estate and Accumulated Depreciation. See the "Reclassification" section of Note 2, "Significant Accounting Policies" for more information regarding this reclassification.