Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables provide components of segment profit for each segment for the years ended December 31, 2023, 2022 and 2021 (amounts in thousands):

	2023
	Real Estate		Observatory		Intersegment Elimination		Total
Revenues:
Rental revenue	$	597,319	$	—	$	—	$	597,319
Intercompany rental revenue	80,514		—		(80,514)		—
Observatory revenue	—		129,366		—		129,366
Lease termination fees	—		—		—		—
Third-party management and other fees	1,351		—		—		1,351
Other revenue and fees	11,536		—		—		11,536
Total revenues	690,720		129,366		(80,514)		739,572
Operating expenses:
Property operating expenses	167,324		—		—		167,324
Intercompany rent expense	—		80,514		(80,514)		—
Ground rent expenses	9,326		—		—		9,326
General and administrative expenses	63,939		—		—		63,939
Observatory expenses	—		35,265		—		35,265
Real estate taxes	127,101		—		—		127,101
Depreciation and amortization	189,762		149		—		189,911
Total operating expenses	557,452		115,928		(80,514)		592,866
Total operating income	133,268		13,438		—		146,706
Other income (expense):
Interest income	14,936		200		—		15,136
Interest expense	(101,484)		—		—		(101,484)
Gain on sale/disposition of properties	26,764		—		—		26,764
Income before income taxes	73,484		13,638		—		87,122
Income tax expense	(552)		(2,163)		—		(2,715)
Net income	$	72,932	$	11,475	$	—	$	84,407
Segment assets	$	3,957,659	$	261,674	$	—	$	4,219,333
Expenditures for segment assets	$	169,044	$	111	$	—	$	169,155

	2022
	Real Estate		Observatory		Intersegment Elimination		Total
Revenues:
Rental revenue	$	591,048	$	—	$	—	$	591,048
Intercompany rental revenue	65,005		—		(65,005)		—
Observatory revenue	—		105,978		—		105,978
Lease termination fees	20,032		—		—		20,032
Third-party management and other fees	1,361		—		—		1,361
Other revenue and fees	8,622		—		—		8,622
Total revenues	686,068		105,978		(65,005)		727,041
Operating expenses:
Property operating expenses	157,935		—		—		157,935
Intercompany rent expense	—		65,005		(65,005)		—
Ground rent expenses	9,326		—		—		9,326
General and administrative expenses	61,765		—		—		61,765
Observatory expenses	—		31,036		—		31,036
Real estate taxes	123,057		—		—		123,057
Impairment charge	—		—		—		—
Depreciation and amortization	216,707		187		—		216,894
Total operating expenses	568,790		96,228		(65,005)		600,013
Total operating income (loss)	117,278		9,750		—		127,028
Other income (expense):
Interest income	4,901		47		—		4,948
Interest expense	(101,206)		—		—		(101,206)
Gain on sale/disposition of properties	33,988		—		—		33,988
Income before income taxes	54,961		9,797		—		64,758
Income tax (expense) benefit	(584)		(962)		—		(1,546)
Net income	$	54,377	$	8,835	$	—	$	63,212
Segment assets	$	3,909,299	$	254,295	$	—	$	4,163,594
Expenditures for segment assets	$	85,646	$	315	$	—	$	85,961

	2021
	Real Estate		Observatory		Intersegment Elimination		Total
Revenues:
Rental revenue	$	559,690	$	—	$	—	$	559,690
Intercompany rental revenue	23,413		—		(23,413)		—
Observatory revenue	—		41,474		—		41,474
Lease termination fees	16,230		—		—		16,230
Third-party management and other fees	1,219		—		—		1,219
Other revenue and fees	5,343		138		—		5,481
Total revenues	605,895		41,612		(23,413)		624,094
Operating expenses:
Property operating expenses	126,986		—		—		126,986
Intercompany rent expense	—		23,413		(23,413)		—
Ground rent expenses	9,326		—		—		9,326
General and administrative expenses	55,947		—		—		55,947
Observatory expenses	—		23,206		—		23,206
Real estate taxes	119,967		—		—		119,967
Impairment charges	7,723		—		—		7,723
Depreciation and amortization	201,676		130		—		201,806
Total operating expenses	521,625		46,749		(23,413)		544,961
Total operating income (loss)	84,270		(5,137)		—		79,133
Other income (expense):
Interest income	701		3		—		704
Interest expense	(94,292)		(102)		—		(94,394)
Loss on early extinguishment of debt	(214)		—		—		(214)
Loss before income taxes	(9,535)		(5,236)		—		(14,771)
Income tax (expense) benefit	(613)		2,347		—		1,734
Net loss	$	(10,148)	$	(2,889)	$	—	$	(13,037)
Segment assets	$	4,037,122	$	245,325	$	—	$	4,282,447
Expenditures for segment assets	$	398,368	$	4	$	—	$	398,372