Investments in Partially Owned Entities (Tables)

6 Months Ended

Jun. 30, 2017

Below is a schedule summarizing our investments in partially owned entities.

(Amounts in thousands)		Percentage
		Ownership at		Balance as of
		June 30, 2017		June 30, 2017		December 31, 2016
Investments:
	Partially owned office buildings⁽¹⁾		Various	$	804,492	$	825,421
	Alexander’s		32.4%		126,630		129,324
	PREIT		8.0%		117,604		122,883
	UE		4.8%		41,892		24,523
	India real estate ventures		4.1%-36.5%		26,491		30,290
	Other investments⁽²⁾		Various		236,980		295,578
				$	1,354,089	$	1,428,019

	7 West 34th Street⁽³⁾		53.0%	$	(45,789)	$	(43,022)


(1)	Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue, 512 West 22nd Street, 85 Tenth Avenue, 61 Ninth Avenue and others.
(2)	Includes interests in Independence Plaza, Fashion Centre Mall/Washington Tower, Rosslyn Plaza, 50-70 West 93rd Street, Farley Post Office Joint Venture, Toys "R" Us, Inc. (which has a carrying amount of zero) and others.
(3)	Our negative basis results from a deferred gain from the sale of a 47.0% ownership interest in the property and is included in "other liabilities" on our consolidated balance sheets.

Below is a schedule net income (loss) from partially owned entities.

(Amounts in thousands)				Percentage		For the Three Months Ended				For the Six Months Ended
				Ownership at		June 30,				June 30,
				June 30, 2017		2017		2016		2017		2016
Our Share of Net Income (Loss):
		UE (see page 23 for details):
			Net gain resulting from UE operating
			partnership unit issuances		4.8%	$	15,900	$	-	$	15,900	$	-
			Equity in net earnings				2,894		1,071		3,985		1,947
			Management fees				209		209		418		418
							19,003		1,280		20,303		2,365

		Alexander's (see page 23 for details):
			Equity in net income		32.4%		6,690		6,812		13,582		13,749
			Management, leasing and development fees				1,507		1,688		3,016		3,413
							8,197		8,500		16,598		17,162

		Partially owned office buildings⁽¹⁾			Various		(7,897)		(12,398)		(17,840)		(26,647)

		India real estate ventures			4.1%-36.5%		(1,644)		(1,934)		10		(2,620)

		PREIT (see page 24 for details)			8.0%		(902)		(527)		(3,732)		(4,815)

		Other investments⁽²⁾			Various		29,519		5,721		32,382		10,957

						$	46,276	$	642	$	47,721	$	(3,598)


(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, 85 Tenth Avenue and others.
(2)	Includes interests in Independence Plaza, Fashion Centre Mall/Washington Tower, Rosslyn Plaza, 50-70 West 93rd Street, Toys "R" Us, Inc. and others. In the second quarter of 2017, we recognized $26,687 of net gains, comprised of $15,314 representing our share of a net gain on the sale of Suffolk Downs and $11,373 representing the net gain on repayment of our debt investments in Suffolk Downs JV. See page 24 for details.