Investments in Partially Owned Entities (Tables)

3 Months Ended

Mar. 31, 2024

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


(Amounts in thousands)	Percentage Ownership as of March 31, 2024	Balance as of
		March 31, 2024		December 31, 2023
Investments:
Fifth Avenue and Times Square JV (see page 22 for details)	51.5%	$	2,241,278	$	2,242,972
Partially owned office buildings/land(1)	Various	110,224		118,558
Alexander's (see page 22 for details):	32.4%	85,260		87,510
Other investments(2)	Various	162,372		161,518
		$	2,599,134	$	2,610,558
Investments in partially owned entities included in other liabilities(3):
7 West 34th Street	53.0%	$	(70,207)	$	(69,899)
85 Tenth Avenue	49.9%	(13,852)		(11,330)
		$	(84,059)	$	(81,229)

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

(2)Includes interests in Independence Plaza, Sunset Pier 94 Joint Venture (“Pier 94 JV”), Rosslyn Plaza and others.

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

Below is a schedule of income from partially owned entities.


(Amounts in thousands)	Percentage Ownership as of March 31, 2024	For the Three Months Ended March 31,
		2024		2023
Our share of net income (loss):
Fifth Avenue and Times Square JV (see page 22 for details):

Equity in net income	51.5%	$	9,291	$	10,199
Return on preferred equity, net of our share of the expense		9,328		9,226
		18,619		19,425
Alexander's (see page 22 for details):
Equity in net income	32.4%	5,154		3,571
Management, leasing and development fees		1,180		1,173

		6,334		4,744

Partially owned office buildings(1)	Various	(10,403)		(8,963)

Other investments(2)	Various	1,729		1,460

		$	16,279	$	16,666

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(1)Includes interests in 280 Park Avenue, 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.