Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Below is a summary of our revenues by segment. Additional financial information related to these reportable segments for the years ended December 31, 2024, 2023 and 2022 is set forth in Note 22 - Segment Information.


(Amounts in thousands)	For the Year Ended December 31, 2024
	Total		New York		Other
Property rentals	$	1,486,503	$	1,215,854	$	270,649
Trade shows	21,541		—		21,541
Lease revenues(1)	1,508,044		1,215,854		292,190
Tenant services	41,549		29,344		12,205
Parking revenues	19,213		15,228		3,985
Rental revenues	1,568,806		1,260,426		308,380
BMS cleaning fees	149,225		159,903		(10,678)		(2)
Management and leasing fees	14,680		15,443		(763)
Other income	54,975		36,225		18,750
Fee and other income	218,880		211,571		7,309
Total revenues	$	1,787,686	$	1,471,997	$	315,689


(Amounts in thousands)	For the Year Ended December 31, 2023
	Total		New York		Other
Property rentals	$	1,523,890	$	1,222,229	$	301,661	(3)
Trade shows	20,781		—		20,781
Lease revenues(1)	1,544,671		1,222,229		322,442
Tenant services	42,460		31,086		11,374
Parking revenues	20,355		16,502		3,853
Rental revenues	1,607,486		1,269,817		337,669
BMS cleaning fees	141,937		151,608		(9,671)		(2)
Management and leasing fees	13,040		13,619		(579)
Other income	48,700		17,114		31,586
Fee and other income	203,677		182,341		21,336
Total revenues	$	1,811,163	$	1,452,158	$	359,005

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See notes on following page.

3. Revenue Recognition - continued


(Amounts in thousands)	For the Year Ended December 31, 2022
	Total		New York		Other
Property rentals	$	1,510,648	$	1,230,851	$	279,797
Trade shows	32,669		—		32,669
Lease revenues(1)	1,543,317		1,230,851		312,466
Tenant services	45,211		33,351		11,860
Parking revenues	19,157		15,979		3,178
Rental revenues	1,607,685		1,280,181		327,504
BMS cleaning fees	137,673		146,530		(8,857)		(2)
Management and leasing fees	11,039		11,645		(606)
Other income	43,598		11,086		32,512
Fee and other income	192,310		169,261		23,049
Total revenues	$	1,799,995	$	1,449,442	$	350,553

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


	For the Year Ended December 31,
	2024		2023		2022
Fixed billings	$	1,358,256	$	1,387,731	$	1,376,527
Variable billings	153,011		150,045		122,947
Total contractual operating lease billings	1,511,267		1,537,776		1,499,474
Adjustment for straight-line rents and amortization of acquired below-market leases and other, net	(3,223)		6,895		43,843

Lease revenues	$	1,508,044	$	1,544,671	$	1,543,317

(2)Represents the elimination of 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.

Schedule of Components of Lease Revenues

The components of lease revenues were as follows:


	For the Year Ended December 31,
	2024		2023		2022
Fixed billings	$	1,358,256	$	1,387,731	$	1,376,527
Variable billings	153,011		150,045		122,947
Total contractual operating lease billings	1,511,267		1,537,776		1,499,474
Adjustment for straight-line rents and amortization of acquired below-market leases and other, net	(3,223)		6,895		43,843

Lease revenues	$	1,508,044	$	1,544,671	$	1,543,317