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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 12,312 $ 16,109
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amortization of debt issuance costs 9,389 9,917
Straight-lining of rents 1,020 9,355
Interest rate cap premium amortization 176 3,401
Other non-cash adjustments 2,158 (2,820)
Change in operating assets and liabilities:    
Tenant and other receivables (249) 347
Other assets (15,171) (13,357)
Amounts due to Vornado (169) (236)
Accounts payable and accrued expenses 6,258 (5,886)
Other liabilities (4) (5)
Net cash provided by operating activities 15,720 16,825
Net Cash Provided by (Used in) Investing Activities [Abstract]    
Construction in progress and real estate additions (8,021) (2,475)
Proceeds from interest rate cap 0 3,160
Net cash (used in) provided by investing activities (8,021) 685
Net Cash Provided by (Used in) Financing Activities [Abstract]    
Dividends paid (23,101) (23,088)
Debt repayments (789) 0
Net cash used in financing activities (23,890) (23,088)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (16,191) (5,578)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance 393,836 552,977
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance 377,645 547,399
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents at beginning of period 338,532 531,855
Restricted cash at beginning of period 55,304 21,122
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance 393,836 552,977
Cash and cash equivalents at end of period 319,897 526,340
Restricted cash at end of period 57,748 21,059
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance 377,645 547,399
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 9,876 15,356
NON-CASH TRANSACTIONS    
Liability for real estate additions, including $419 and $14, respectively for development fees due to Vornado 2,188 2,708
Write-off of fully depreciated assets $ 0 $ 15