Organization and Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Interests in Investment Properties

On December 31, 2024, we owned the following interests in properties in the New York metropolitan area, primarily in midtown Manhattan. Our investments located outside of Manhattan are referred to as the Suburban properties:

		Consolidated			Unconsolidated		Total
Location	Property Type	Number of Buildings		Approximate Square Feet (unaudited)	Number of Buildings	Approximate Square Feet (unaudited)	Number of Buildings	Approximate Square Feet (unaudited)	Weighted Average Leased Occupancy(1) (unaudited)
Commercial:
Manhattan	Office	15		9,587,441	9	12,175,149	24	21,762,590	92.5	%
	Retail	2		30,496	1	12,946	3	43,442	100.0	%
	Development/Redevelopment	2	(2)	880,771	1	1,385,484	3	2,266,255	N/A
		19		10,498,708	11	13,573,579	30	24,072,287	92.5	%
Suburban	Office	7		862,800	—	—	7	862,800	73.5	%
Total commercial properties		26		11,361,508	11	13,573,579	37	24,935,087	91.8	%
Residential:
Manhattan	Residential	1	(2)	140,382	1	221,884	2	362,266	99.1	%
Total core portfolio		27		11,501,890	12	13,795,463	39	25,297,353	91.9	%
	Alternative Strategy Portfolio	—		—	7	2,567,025	7	2,567,025	63.0	%

(1)The weighted average leased occupancy for commercial properties represents the total leased square feet divided by total square footage at acquisition. The weighted average leased occupancy for residential properties represents the total leased units divided by total available units. Properties under construction are not included in the calculation of weighted average leased occupancy.

(2)As of December 31, 2024, we owned a building at 7 Dey Street / 185 Broadway that was comprised of approximately 140,382 square feet (unaudited) of residential space and approximately 50,206 square feet (unaudited) of office and retail space that is under development. For the purpose of this report, we have included this building in the number of residential properties we own. However, we have included only the residential square footage in the residential approximate square footage, and have listed the balance of the square footage as development square footage.