Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives

Properties other than Right of use assets - operating leases are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows:

Category	Term
Building (fee ownership)	40 years
Building improvements	shorter of remaining life of the building or useful life
Building (leasehold interest)	lesser of 40 years or remaining term of the lease
Right of use assets - financing leases	lesser of 40 years or remaining term of the lease
Furniture and fixtures	4 to 7 years
Tenant improvements	shorter of remaining term of the lease or useful life

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 December 31, 2025 and 2024 (in thousands):

	December 31, 2025		December 31, 2024
Identified intangible assets (included in other assets):
Gross amount	$	365,454	$	378,277
Accumulated amortization	(224,360)		(197,211)
Total, net	$	141,094	$	181,066
Identified intangible liabilities (included in deferred revenue):
Gross amount	$	242,136	$	243,703
Accumulated amortization	(207,798)		(204,092)
Total, net	$	34,338	$	39,611

Schedule of Estimated Annual Amortization of Acquired Above-market Leases, Net of Acquired Below-market Leases

The estimated annual amortization of acquired above-market leases, net of acquired (below-market) leases (a component of rental revenue), for each of the five succeeding years is as follows (in thousands):    

2026	$	4,239
2027	4,202
2028	3,436
2029	2,647
2030	1,165

Schedule of Estimated Annual Amortization of all Other Identifiable Assets

The estimated annual amortization of all other identifiable assets (a component of depreciation and amortization expense) including tenant improvements for each of the five succeeding years is as follows (in thousands):

2026	$	32,932
2027	25,568
2028	20,635
2029	18,067
2030	12,916

Schedule of Marketable Securities

As of December 31, 2025 and 2024, we held the following commercial mortgage-backed securities ("CMBS") (in thousands):

	December 31, 2025		December 31, 2024
Commercial mortgage-backed securities - available-for-sale	$	23,666	$	17,323
Commercial mortgage-backed securities - held-to-maturity	—		5,489
Total investment in marketable securities	$	23,666	$	22,812

Schedule of Real Estate CMBS Securitization Trusts

As of December 31, 2025 and 2024, we consolidated the following CMBS securitization trusts (in thousands):

	December 31, 2025				December 31, 2024				Maturity
Type	Fair Value		Principal Value		Fair Value (2)		Principal Value
Real estate loans held by consolidated securitization vehicles (1)	$	1,023,877	$	1,119,044	$	709,095	$	894,000	2023 - 2025	(3)
Senior obligations of consolidated securitization vehicles	1,023,877		1,119,044		590,131		688,346		2023 - 2025	(3)
Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles	$	—	$	—	$	118,964	$	205,654

(1)Excludes real estate loans held by the Fund.

(2)Includes $134.8 million and $34.2 million of assets and liabilities, respectively, for a loan that is accounted for on an amortized cost basis.

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

Schedule of Properties Contributed of Annualized Cash Rent

For the years ended December 31, 2025, 2024, and 2023, 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:

2025		2024		2023
One Vanderbilt Avenue	12.8%	One Vanderbilt Avenue	14.7%	One Vanderbilt Avenue	16.0%
11 Madison Avenue	8.0%	11 Madison Avenue	8.8%	11 Madison Avenue	8.3%
245 Park Avenue	7.2%	420 Lexington Avenue	7.0%	420 Lexington Avenue	6.7%
420 Lexington Avenue	7.1%	1515 Broadway	6.7%	1515 Broadway	6.4%
1515 Broadway	6.5%	245 Park Avenue	6.7%	1185 Avenue of the Americas	5.6%
280 Park Avenue	5.2%	1185 Avenue of the Americas	5.9%	280 Park Avenue	5.5%
		280 Park Avenue	5.2%	245 Park Avenue	5.5%