Investments in Partially Owned Entities (Tables)

3 Months Ended

Mar. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

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

(Amounts in thousands)	Percentage Ownership at March 31, 2022	Balance as of
		March 31, 2022		December 31, 2021
Investments:
Fifth Avenue and Times Square JV (see page 22 for details):	51.5%	$	2,773,505	$	2,770,633
Partially owned office buildings/land(1)	Various	310,580		306,989
Alexander’s	32.4%	92,779		91,405
Other investments(2)	Various	122,765		128,362
		$	3,299,629	$	3,297,389
Investments in partially owned entities included in other liabilities(3):
7 West 34th Street	53.0%	$	(61,279)	$	(60,918)
85 Tenth Avenue	49.9%	(16,033)		(18,067)
		$	(77,312)	$	(78,985)

____________________

(1)Includes interests in 280 Park Avenue, 650 Madison Avenue, 512 West 22nd Street, 61 Ninth Avenue and others.

(2)Includes interests in Independence Plaza, Rosslyn Plaza and others.

(3)Our negative basis results from distributions in excess of our investment.

6.    Investments in Partially Owned Entities - continued

Below is a schedule of income from partially owned entities.

(Amounts in thousands)	Percentage Ownership at March 31, 2022	For the Three Months Ended March 31,
		2022		2021
Our share of net income:
Fifth Avenue and Times Square JV (see page 22 for details):
Equity in net income	51.5%	$	16,309	$	9,606
Return on preferred equity, net of our share of the expense		9,226		9,226
		25,535		18,832
Alexander's (see page 23 for details):
Equity in net income	32.4%	4,671		5,729
Management, leasing and development fees		1,020		575
		5,691		6,304
Partially owned office buildings(1)	Various	2,477		5,972
Other investments(2)	Various	11		(2,035)
		$	33,714	$	29,073

____________________

(1)Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue (consolidated from August 5, 2021), 7 West 34th Street, 512 West 22nd Street, 61 Ninth Avenue, 85 Tenth Avenue and others.

(2)Includes interests in Independence Plaza, Rosslyn Plaza and others.