XML 79 R64.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Revenues:      
Rental revenue $ 153,882 $ 140,091  
Intercompany rental revenue 0 0  
Observatory revenue 24,596 22,154  
Third-party management and other fees 265 427  
Other revenue and fees 2,436 1,950  
Total revenues 181,179 164,622  
Operating expenses:      
Property operating expenses 45,060 42,044  
Intercompany rent expense 0 0  
Ground rent expenses 2,331 2,331  
General and administrative expenses 15,972 15,708  
Observatory expenses 8,431 7,855  
Real estate taxes 32,241 31,788  
Depreciation and amortization 46,081 47,408  
Total operating expenses 150,116 147,134  
Total operating income (loss) 31,063 17,488  
Other income (expense):      
Interest income 4,178 2,595  
Interest expense (25,128) (25,304)  
Loss on early extinguishment of debt (553) 0  
Gain on sale of property 0 15,696  
Income (loss) before income taxes 9,560 10,475  
Income tax (expense) benefit 655 1,219  
Net income (loss) 10,215 11,694  
Segment assets 4,190,587 4,157,363 $ 4,219,333
Expenditures for segment assets 47,684 34,594  
Intersegment Elimination      
Revenues:      
Rental revenue 0 0  
Intercompany rental revenue (16,067) (15,914)  
Observatory revenue 0 0  
Third-party management and other fees 0 0  
Other revenue and fees 0 0  
Total revenues (16,067) (15,914)  
Operating expenses:      
Property operating expenses 0 0  
Intercompany rent expense (16,067) (15,914)  
Ground rent expenses 0 0  
General and administrative expenses 0 0  
Observatory expenses 0 0  
Real estate taxes 0 0  
Depreciation and amortization 0 0  
Total operating expenses (16,067) (15,914)  
Total operating income (loss) 0 0  
Other income (expense):      
Interest income 0 0  
Interest expense 0 0  
Loss on early extinguishment of debt 0    
Gain on sale of property   0  
Income (loss) before income taxes 0 0  
Income tax (expense) benefit 0 0  
Net income (loss) 0 0  
Segment assets 0 0  
Expenditures for segment assets 0 0  
Real Estate | Operating Segments      
Revenues:      
Rental revenue 153,882 140,091  
Intercompany rental revenue 16,067 15,914  
Observatory revenue 0 0  
Third-party management and other fees 265 427  
Other revenue and fees 2,436 1,950  
Total revenues 172,650 158,382  
Operating expenses:      
Property operating expenses 45,060 42,044  
Intercompany rent expense 0 0  
Ground rent expenses 2,331 2,331  
General and administrative expenses 15,972 15,708  
Observatory expenses 0 0  
Real estate taxes 32,241 31,788  
Depreciation and amortization 46,044 47,364  
Total operating expenses 141,648 139,235  
Total operating income (loss) 31,002 19,147  
Other income (expense):      
Interest income 4,140 2,558  
Interest expense (25,128) (25,304)  
Loss on early extinguishment of debt (553)    
Gain on sale of property   15,696  
Income (loss) before income taxes 9,461 12,097  
Income tax (expense) benefit (113) (198)  
Net income (loss) 9,348 11,899  
Segment assets 3,931,685 3,903,661  
Expenditures for segment assets 47,645 34,536  
Observatory | Operating Segments      
Revenues:      
Rental revenue 0 0  
Intercompany rental revenue 0 0  
Observatory revenue 24,596 22,154  
Third-party management and other fees 0 0  
Other revenue and fees 0 0  
Total revenues 24,596 22,154  
Operating expenses:      
Property operating expenses 0 0  
Intercompany rent expense 16,067 15,914  
Ground rent expenses 0 0  
General and administrative expenses 0 0  
Observatory expenses 8,431 7,855  
Real estate taxes 0 0  
Depreciation and amortization 37 44  
Total operating expenses 24,535 23,813  
Total operating income (loss) 61 (1,659)  
Other income (expense):      
Interest income 38 37  
Interest expense 0 0  
Loss on early extinguishment of debt 0    
Gain on sale of property   0  
Income (loss) before income taxes 99 (1,622)  
Income tax (expense) benefit 768 1,417  
Net income (loss) 867 (205)  
Segment assets 258,902 253,702  
Expenditures for segment assets $ 39 $ 58