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Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables provide components of segment profit for each segment for the three and nine months ended September 30, 2016 and 2015 (amounts in thousands):

 
 
Three Months Ended September 30, 2016
 
 
Real Estate
 
Observatory
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
Rental revenue
 
$
115,634

 
$

 
$

 
$
115,634

Intercompany rental revenue
 
22,983

 

 
(22,983
)
 

Tenant expense reimbursement
 
19,176

 

 

 
19,176

Observatory revenue
 

 
38,093

 

 
38,093

Third-party management and other fees
 
404

 

 

 
404

Other revenue and fees
 
2,536

 
5

 

 
2,541

Total revenues
 
160,733

 
38,098

 
(22,983
)
 
175,848

Operating expenses:
 
 
 
 
 
 
 
 
Property operating expenses
 
38,585

 

 

 
38,585

Intercompany rent expense
 

 
22,983

 
(22,983
)
 

Ground rent expense
 
2,331

 

 

 
2,331

General and administrative expenses
 
11,798

 

 

 
11,798

Observatory expenses
 

 
7,250

 

 
7,250

Real estate taxes
 
24,691

 

 

 
24,691

Depreciation and amortization
 
37,421

 
186

 

 
37,607

Total operating expenses
 
114,826

 
30,419

 
(22,983
)
 
122,262

Total operating income
 
45,907

 
7,679

 

 
53,586

Interest expense
 
(17,939
)
 

 

 
(17,939
)
Income before income taxes
 
27,968

 
7,679

 

 
35,647

Income tax expense
 
(332
)
 
(2,418
)
 

 
(2,750
)
Net income
 
$
27,636

 
$
5,261

 
$

 
$
32,897

Segment assets
 
$
3,636,262

 
$
246,307

 
$

 
$
3,882,569

Expenditures for segment assets
 
$
52,828

 
$

 
$

 
$
52,828



 
 
Three Months Ended September 30, 2015
 
 
Real Estate
 
Observatory
 
Other
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
 
 
Rental revenue
 
$
110,903

 
$

 
$

 
$

 
$
110,903

Intercompany rental revenue
 
20,828

 

 

 
(20,828
)
 

Tenant expense reimbursement
 
23,096

 

 

 

 
23,096

Observatory revenue
 

 
35,702

 

 

 
35,702

Third-party management and other fees
 
618

 

 

 

 
618

Other revenue and fees
 
5,460

 

 

 

 
5,460

Total revenues
 
160,905

 
35,702

 

 
(20,828
)
 
175,779

Operating expenses:
 
 
 
 
 
 
 
 
 
 
Property operating expenses
 
41,052

 

 

 

 
41,052

Intercompany rent expense
 

 
20,828

 

 
(20,828
)
 

Ground rent expense
 
2,331

 

 

 

 
2,331

General and administrative expenses
 
10,182

 

 

 

 
10,182

Observatory expenses
 

 
7,896

 

 

 
7,896

Real estate taxes
 
23,613

 

 

 

 
23,613

Acquisition expenses
 
193

 

 

 

 
193

Depreciation and amortization
 
45,072

 
97

 

 

 
45,169

Total operating expenses
 
122,443

 
28,821

 

 
(20,828
)
 
130,436

Total operating income
 
38,462

 
6,881

 

 

 
45,343

Interest expense
 
(16,680
)
 

 

 

 
(16,680
)
Income before income taxes
 
21,782

 
6,881

 

 

 
28,663

Income tax expense
 
(474
)
 
(2,104
)
 

 

 
(2,578
)
Net income
 
$
21,308

 
$
4,777

 
$

 
$

 
$
26,085

Segment assets
 
$
3,070,234

 
$
235,937

 
$
2,596

 
$

 
$
3,308,767

Expenditures for segment assets
 
$
39,915

 
$
187

 
$

 
$

 
$
40,102





 
 
Nine Months Ended September 30, 2016
 
 
Real Estate
 
Observatory
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
Rental revenue
 
$
343,155

 
$

 
$

 
$
343,155

Intercompany rental revenue
 
55,189

 

 
(55,189
)
 

Tenant expense reimbursement
 
56,350

 

 

 
56,350

Observatory revenue
 

 
91,112

 

 
91,112

Third-party management and other fees
 
1,372

 

 

 
1,372

Other revenue and fees
 
6,738

 
10

 

 
6,748

Total revenues
 
462,804

 
91,122

 
(55,189
)
 
498,737

Operating expenses:
 
 
 
 
 
 
 
 
Property operating expenses
 
115,075

 

 

 
115,075

Intercompany rent expense
 

 
55,189

 
(55,189
)
 

Ground rent expense
 
6,994

 

 

 
6,994

General and administrative expenses
 
35,623

 

 

 
35,623

Observatory expenses
 

 
21,900

 

 
21,900

Real estate taxes
 
71,773

 

 

 
71,773

Acquisition expenses
 
98

 

 

 
98

Depreciation and amortization
 
115,002

 
380

 

 
115,382

Total operating expenses
 
344,565

 
77,469

 
(55,189
)
 
366,845

Total operating income
 
118,239

 
13,653

 

 
131,892

Interest expense
 
(53,310
)
 

 

 
(53,310
)
Income before income taxes
 
64,929

 
13,653

 

 
78,582

Income tax expense
 
(1,018
)
 
(3,322
)
 

 
(4,340
)
Net income
 
$
63,911

 
$
10,331

 
$

 
$
74,242

Expenditures for segment assets
 
$
140,052

 
$
47

 
$

 
$
140,099



 
 
Nine Months Ended September 30, 2015
 
 
Real Estate
 
Observatory
 
Other
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
 
 
Rental revenue
 
$
333,827

 
$

 
$

 
$

 
$
333,827

Intercompany rental revenue
 
51,402

 

 

 
(51,402
)
 

Tenant expense reimbursement
 
59,878

 

 

 

 
59,878

Observatory revenue
 

 
84,525

 

 

 
84,525

Construction revenue
 

 

 
5,696

 
(3,715
)
 
1,981

Third-party management and other fees
 
1,658

 

 

 

 
1,658

Other revenue and fees
 
10,565

 

 

 

 
10,565

Total revenues
 
457,330

 
84,525

 
5,696

 
(55,117
)
 
492,434

Operating expenses:
 
 
 
 
 
 
 
 
 
 
Property operating expenses
 
120,341

 

 

 

 
120,341

Intercompany rent expense
 

 
51,402

 

 
(51,402
)
 

Ground rent expense
 
6,994

 

 

 

 
6,994

General and administrative expenses
 
28,395

 

 

 

 
28,395

Observatory expenses
 

 
23,391

 

 

 
23,391

Construction expenses
 

 

 
6,539

 
(3,317
)
 
3,222

Real estate taxes
 
69,543

 

 

 

 
69,543

Acquisition expenses
 
193

 

 

 

 
193

Depreciation and amortization
 
125,847

 
268

 
101

 

 
126,216

Total operating expenses
 
351,313

 
75,061

 
6,640

 
(54,719
)
 
378,295

Total operating income (loss)
 
106,017

 
9,464

 
(944
)
 
(398
)
 
114,139

Interest expense
 
(50,298
)
 

 

 

 
(50,298
)
Income (loss) before income taxes
 
55,719

 
9,464

 
(944
)
 
(398
)
 
63,841

Income tax benefit (expense)
 
(1,247
)
 
(2,376
)
 
340

 

 
(3,283
)
Net income (loss)
 
$
54,472

 
$
7,088

 
$
(604
)
 
$
(398
)
 
$
60,558

Expenditures for segment assets
 
$
109,104

 
$
211

 
$

 
$

 
$
109,315