Revenue Recognition

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Below is a summary of our revenues by segment. Additional financial information related to these reportable segments for the three and nine months ended September 30, 2024 and 2023 is set forth in Note 19 - Segment Information.

(Amounts in thousands)	For the Three Months Ended September 30, 2024							For the Three Months Ended September 30, 2023
	Total		New York		Other			Total		New York		Other
Property rentals	$	362,903	$	294,258	$	68,645		$	376,505	$	306,717	$	69,788
Trade shows	6,789		—		6,789			6,178		—		6,178
Lease revenues(1)	369,692		294,258		75,434			382,683		306,717		75,966
Tenant services	13,190		9,300		3,890			12,793		8,789		4,004
Parking revenues	4,588		3,611		977			4,891		3,950		941
Rental revenues	387,470		307,169		80,301			400,367		319,456		80,911
BMS cleaning fees	37,772		41,007		(3,235)		(2)	35,428		37,999		(2,571)		(2)
Management and leasing fees	2,841		3,089		(248)			3,263		3,441		(178)
Other income	15,172		11,218		3,954			11,937		3,872		8,065
Fee and other income	55,785		55,314		471			50,628		45,312		5,316
Total revenues	$	443,255	$	362,483	$	80,772		$	450,995	$	364,768	$	86,227

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See notes below.

(Amounts in thousands)	For the Nine Months Ended September 30, 2024							For the Nine Months Ended September 30, 2023
	Total		New York		Other			Total		New York		Other
Property rentals	$	1,104,972	$	898,569	$	206,403		$	1,150,387	$	919,621	$	230,766	(3)
Trade shows	19,566		—		19,566			18,008		—		18,008
Lease revenues(1)	1,124,538		898,569		225,969			1,168,395		919,621		248,774
Tenant services	31,822		22,220		9,602			32,366		23,696		8,670
Parking revenues	13,983		11,018		2,965			15,233		12,357		2,876
Rental revenues	1,170,343		931,807		238,536			1,215,994		955,674		260,320
BMS cleaning fees	112,017		120,336		(8,319)		(2)	105,902		113,431		(7,529)		(2)
Management and leasing fees	12,161		12,712		(551)			9,970		10,375		(405)
Other income	35,375		23,440		11,935			37,411		11,573		25,838
Fee and other income	159,553		156,488		3,065			153,283		135,379		17,904
Total revenues	$	1,329,896	$	1,088,295	$	241,601		$	1,369,277	$	1,091,053	$	278,224

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(1)The components of lease revenues were as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Fixed billings	$	343,431	$	338,921	$	1,014,611	$	1,049,161
Variable billings	37,669		39,968		118,187		115,123
Total contractual operating lease billings	381,100		378,889		1,132,798		1,164,284
Adjustment for straight-line rents and amortization of acquired below-market leases and other, net	(11,408)		3,794		(8,260)		4,111
Lease revenues	$	369,692	$	382,683	$	1,124,538	$	1,168,395

(2)Represents the elimination of Building Maintenance Services LLC ("BMS") cleaning fees related to THE MART and 555 California Street which are included as income in the New York segment.

(3)2023 includes the receipt of a $21,350 tenant settlement, of which $6,405 is attributable to noncontrolling interests.