Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Components of segment net income (loss) for each segment

The following tables provide components of segment net income (loss) for each segment for the three and six months ended June 30, 2021 and 2020 (amounts in thousands):

	Three Months Ended June 30, 2021
	Real Estate		Observatory		Intersegment Elimination		Total
Revenues:
Rental revenue	$	140,797	$	—	$	—	$	140,797
Intercompany rental revenue	6,029		—		(6,029)		—
Observatory revenue	—		8,359		—		8,359
Lease termination fees	3,339		—		—		3,339
Third-party management and other fees	327		—		—		327
Other revenue and fees	586		—		—		586
Total revenues	151,078		8,359		(6,029)		153,408
Operating expenses:
Property operating expenses	28,793		—		—		28,793
Intercompany rent expense	—		6,029		(6,029)		—
Ground rent expense	2,332		—		—		2,332
General and administrative expenses	14,089		—		—		14,089
Observatory expenses	—		5,268		—		5,268
Real estate taxes	31,354		—		—		31,354
Depreciation and amortization	45,066		22		—		45,088
Total operating expenses	121,634		11,319		(6,029)		126,924
Total operating income (loss)	29,444		(2,960)		—		26,484
Other income (expense):
Interest income	163		1		—		164
Interest expense	(23,422)		—		—		(23,422)
Income (loss) before income taxes	6,185		(2,959)		—		3,226
Income tax (expense) benefit	(135)		1,320		—		1,185
Net income (loss)	$	6,050	$	(1,639)	$	—	$	4,411
Segment assets	$	3,880,853	$	242,619	$	—	$	4,123,472
Expenditures for segment assets	$	19,975	$	—	$	—	$	19,975

	Three Months Ended June 30, 2020
	Real Estate		Observatory		Intersegment Elimination		Total
Revenues:
Rental revenue	$	137,999	$	—	$	—	$	137,999
Intercompany rental revenue	4,053		—		(4,053)		—
Observatory revenue	—		86		—		86
Lease termination fees	1,033		—		—		1,033
Third-party management and other fees	301		—		—		301
Other revenue and fees	1,611		—		—		1,611
Total revenues	144,997		86		(4,053)		141,030
Operating expenses:
Property operating expenses	29,750		—		—		29,750
Intercompany rent expense	—		4,053		(4,053)		—
Ground rent expense	2,332		—		—		2,332
General and administrative expenses	18,149		—		—		18,149
Observatory expenses	—		4,002		—		4,002
Real estate taxes	29,579		—		—		29,579
Impairment charges	4,101		—		—		4,101
Depreciation and amortization	52,758		25		—		52,783
Total operating expenses	136,669		8,080		(4,053)		140,696
Total operating income (loss)	8,328		(7,994)		—		334
Other income (expense):
Interest income	1,441		85		—		1,526
Interest expense	(23,928)		—		—		(23,928)
Loss before income taxes	(14,159)		(7,909)		—		(22,068)
Income tax (expense) benefit	(269)		2,719		—		2,450
Net loss	$	(14,428)	$	(5,190)	$	—	$	(19,618)
Segment assets	$	4,305,105	$	245,290	$	—	$	4,550,395
Expenditures for segment assets	$	20,100	$	995	$	—	$	21,095

	Six Months Ended June 30, 2021
	Real Estate		Observatory		Intersegment Elimination		Total
Revenues:
Rental revenue	$	281,028	$	—	$	—	$	281,028
Intercompany rental revenue	10,961		—		(10,961)		—
Observatory revenue	—		10,962		—		10,962
Lease termination fees	4,628		—		—		4,628
Third-party management and other fees	603		—		—		603
Other revenue and fees	1,491		—		—		1,491
Total revenues	298,711		10,962		(10,961)		298,712
Operating expenses:
Property operating expenses	59,072		—		—		59,072
Intercompany rent expense	—		10,961		(10,961)		—
Ground rent expense	4,663		—		—		4,663
General and administrative expenses	27,942		—		—		27,942
Observatory expenses	—		9,856		—		9,856
Real estate taxes	62,801		—		—		62,801
Depreciation and amortization	89,485		60		—		89,545
Total operating expenses	243,963		20,877		(10,961)		253,879
Total operating income (loss)	54,748		(9,915)		—		44,833
Other income (expense):
Interest income	283		3		—		286
Interest expense	(46,976)		—		—		(46,976)
Loss on early extinguishment of debt	(214)		—		—		(214)
Income (loss) before income taxes	7,841		(9,912)		—		(2,071)
Income tax (expense) benefit	(418)		3,709		—		3,291
Net income (loss)	$	7,423	$	(6,203)	$	—	$	1,220
Expenditures for segment assets	$	43,307	$	4	$	—	$	43,311

	Six Months Ended June 30, 2020
	Real Estate		Observatory		Intersegment Elimination		Total
Revenues:
Rental revenue	$	286,112	$	—	$	—	$	286,112
Intercompany rental revenue	15,589		—		(15,589)		—
Observatory revenue	—		19,630		—		19,630
Lease termination fees	1,244		—		—		1,244
Third-party management and other fees	647		—		—		647
Other revenue and fees	3,621		—		—		3,621
Total revenues	307,213		19,630		(15,589)		311,254
Operating expenses:
Property operating expenses	71,218		—		—		71,218
Intercompany rent expense	—		15,589		(15,589)		—
Ground rent expense	4,663		—		—		4,663
General and administrative expenses	34,100		—		—		34,100
Observatory expenses	—		12,156		—		12,156
Real estate taxes	58,833		—		—		58,833
Impairment charges	4,101		—		—		4,101
Depreciation and amortization	98,843		33		—		98,876
Total operating expenses	271,758		27,778		(15,589)		283,947
Total operating income (loss)	35,455		(8,148)		—		27,307
Other income (expense):
Interest income	2,078		85		—		2,163
Interest expense	(43,546)		—		—		(43,546)
Loss on early extinguishment of debt	(86)		—		—		(86)
Loss before income taxes	(6,099)		(8,063)		—		(14,162)
Income tax (expense) benefit	(496)		3,328		—		2,832
Net loss	$	(6,595)	$	(4,735)	$	—	$	(11,330)
Expenditures for segment assets	$	46,672	$	2,232	$	—	$	48,904