Investments in Partially Owned Entities (Tables)

9 Months Ended

Sep. 30, 2016

Below are schedules summarizing our investments in, and income (loss) from, partially owned entities.

(Amounts in thousands)		Percentage
		Ownership at		Balance as of
		September 30, 2016		September 30, 2016		December 31, 2015
Investments:
	Partially owned office buildings⁽¹⁾		Various	$	811,062	$	909,782
	Alexander’s		32.4%		130,485		133,568
	PREIT		8.0%		124,300		133,375
	India real estate ventures		4.1%-36.5%		44,671		48,310
	UE		5.4%		25,817		25,351
	Other investments⁽²⁾		Various		361,590		300,036
				$	1,497,925	$	1,550,422

	7 West 34th Street⁽³⁾		53.0%	$	(41,439)	$	-


(1)	Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue, 512 West 22nd Street and others.
(2)	Includes interests in Independence Plaza, 85 Tenth Avenue, Fashion Center Mall, 50-70 West 93rd Street, Toys "R" Us, Inc. (which has a carrying amount of zero) and others.
(3)	Our negative basis results from a $43,813 deferred gain from the sale of a 47.0% ownership interest in the property and is included in "other liabilities" on our consolidated balance sheet.

(Amounts in thousands)				Percentage		For the Three Months Ended				For the Nine Months Ended
				Ownership at		September 30,				September 30,
				September 30, 2016		2016		2015		2016		2015
Our Share of Net Income (Loss):
		Alexander's (see page 13 for details):
			Equity in net income		32.4%	$	6,891	$	5,716	$	20,640	$	16,757
			Management, leasing and development fees				1,894		1,828		5,307		5,801
							8,785		7,544		25,947		22,558
		UE (see page 13 for details):
			Equity in net earnings		5.4%		1,949		934		3,896		1,338
			Management fees				209		466		627		1,550
							2,158		1,400		4,523		2,888

		Partially owned office buildings⁽¹⁾			Various		(9,157)		(2,039)		(35,868)		(14,573)

		India real estate ventures			4.1%-36.5%		(917)		(1,704)		(3,537)		(18,380)	⁽²⁾

		PREIT (see page 13 for details):			8.0%		52		(3,481)		(4,763)		(3,845)

		Other investments⁽³⁾			Various		3,206		(2,045)		14,227		2,643

						$	4,127	$	(325)	$	529	$	(8,709)


(1)	Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 7 West 34th Street, 330 Madison Avenue, 512 West 22nd Street and others. We recognized our share of a write-off of a below market lease liability related to a tenant vacating at 650 Madison of $7,364 and $12,751 for the three and nine months ended September 30, 2015, respectively.
(2)	Includes $14,806 for our share of non-cash impairment losses.
(3)	Includes interests in Independence Plaza, 85 Tenth Avenue, Fashion Center Mall, 50-70 West 93rd Street, Toys "R" Us, Inc. and others.