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Segments - Schedule of Reconciliation of NOI to Net (Loss) Income Attributable to Common Stockholders (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Segment Reporting [Abstract]    
Paramount's share of NOI [1] $ 93,583 $ 96,201
NOI attributable to noncontrolling interests in consolidated joint ventures 22,908 22,712
Fee income 6,248 4,557
Depreciation and amortization expense (61,114) (58,888)
General and administrative expenses (16,634) (14,623)
(Loss) income from real estate related fund investments (43) 3,550
Loss from unconsolidated joint ventures (1,346) (5,762)
NOI from unconsolidated joint ventures [2],[3] (5,602) (5,305)
Interest and other income, net 19,420 2,925
Interest and debt expense (40,269) (36,459)
Other, net (73) (306)
Income before income taxes 17,078 8,602
Income tax expense (347) (288)
Net income 16,731 8,314
Consolidated joint ventures (5,206) (5,641)
Consolidated real estate related funds (762) (823)
Operating Partnership (898) (121)
Net income attributable to common stockholders $ 9,865 $ 1,729
[1] NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies.
[2] Excludes NOI from One Steuart Lane, a for-sale residential condominium project, and non-core assets (Market Center and 111 Sutter Street).
[3] Excludes NOI from One Steuart Lane, a for-sale residential condominium project, and non-core assets (Market Center and 111 Sutter Street).