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Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
We operate in two reportable segments, New York and Other, which is based on how we manage our business.
Net operating income ("NOI") at share represents total revenues less operating expenses including our share of partially owned entities. NOI at share - cash basis represents NOI at share adjusted to exclude straight-line rental income and expense, amortization of acquired below and above market leases, accruals for ground rent resets yet to be determined, and other non-cash adjustments. We consider NOI at share - cash basis to be the primary non-GAAP financial measure for making decisions and assessing the unlevered performance of our segments as it relates to the total return on assets as opposed to the levered return on equity. As properties are bought and sold based on NOI at share - cash basis, we utilize this measure to make investment decisions as well as to compare the performance of our assets to that of our peers. NOI at share and NOI at share - cash basis should not be considered alternatives to net income or cash flow from operations and may not be comparable to similarly titled measures employed by other companies.
19.    Segment Information - continued
Below is a summary of NOI at share and NOI at share - cash basis by segment for the three and nine months ended September 30, 2024 and 2023.
(Amounts in thousands)For the Three Months Ended September 30, 2024
TotalNew YorkOther
Total revenues$443,255 $362,483 $80,772 
Operating expenses(236,149)(194,927)(41,222)
NOI - consolidated207,106 167,556 39,550 
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries(8,907)(2,523)(6,384)
Add: NOI from partially owned entities 67,292 64,555 2,737 
NOI at share265,491 229,588 35,903 
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other6,807 3,873 2,934 
NOI at share - cash basis$272,298 $233,461 $38,837 
(Amounts in thousands)For the Three Months Ended September 30, 2023
TotalNew YorkOther
Total revenues$450,995 $364,768 $86,227 
Operating expenses(233,737)(186,147)(47,590)
NOI - consolidated217,258 178,621 38,637 
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries(8,363)(2,197)(6,166)
Add: NOI from partially owned entities 72,100 69,210 2,890 
NOI at share
280,995 245,634 35,361 
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other(2,980)(4,790)1,810 
NOI at share - cash basis$278,015 $240,844 $37,171 
(Amounts in thousands)For the Nine Months Ended September 30, 2024
TotalNew YorkOther
Total revenues$1,329,896 $1,088,295 $241,601 
Operating expenses(691,753)(572,152)(119,601)
NOI - consolidated638,143 516,143 122,000 
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries(29,316)(9,255)(20,061)
Add: NOI from partially owned entities 205,959 197,982 7,977 
NOI at share
814,786 704,870 109,916 
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other4,715 (2,781)7,496 
NOI at share - cash basis$819,501 $702,089 $117,412 
(Amounts in thousands)For the Nine Months Ended September 30, 2023
TotalNew YorkOther
Total revenues$1,369,277 $1,091,053 $278,224 
Operating expenses(685,233)(550,878)(134,355)
NOI - consolidated684,044 540,175 143,869 
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries(38,869)(12,224)(26,645)
Add: NOI from partially owned entities 210,942 202,043 8,899 
NOI at share
856,117 729,994 126,123 
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other(3,498)(6,554)3,056 
NOI at share - cash basis$852,619 $723,440 $129,179 
19.    Segment Information - continued
Below is a reconciliation of net (loss) income to NOI at share and NOI at share - cash basis for the three and nine months ended September 30, 2024 and 2023.
(Amounts in thousands)For the Three Months Ended September 30,For the Nine Months Ended September 30,
2024202320242023
Net (loss) income$(19,468)$59,570 $14,358 $133,501 
Depreciation and amortization expense116,006 110,349 334,439 324,076 
General and administrative expense35,511 35,838 111,883 116,843 
Transaction related costs and other(113)813 3,901 1,501 
Income from partially owned entities(18,229)(18,269)(82,457)(72,207)
Interest and other investment income, net(12,391)(14,717)(34,626)(37,454)
Interest and debt expense100,907 88,126 289,786 261,528 
Net gains on disposition of wholly owned and partially owned assets— (56,136)(16,048)(64,592)
Income tax expense 4,883 11,684 16,907 20,848 
NOI from partially owned entities67,292 72,100 205,959 210,942 
NOI attributable to noncontrolling interests in consolidated subsidiaries(8,907)(8,363)(29,316)(38,869)
NOI at share265,491 280,995 814,786 856,117 
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other6,807 (2,980)4,715 (3,498)
NOI at share - cash basis$272,298 $278,015 $819,501 $852,619