Dispositions

12 Months Ended

Dec. 31, 2024

Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]

Dispositions

Dispositions

220 Central Park South

During the year ended December 31, 2024, we closed on the sale of two condominium units at 220 Central Park South (“220 CPS”) for net proceeds of $31,605,000, resulting in a financial statement net gain of $15,175,000 which is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. In connection with these sales, $2,106,000 of income tax expense was recognized on our consolidated statements of income. As of December 31, 2024, four units remain unsold, with a carrying value of $21,552,000 which is included in "other assets” on our consolidated balance sheets.