Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Below is a summary of financial information by segment for the years ended December 31, 2024, 2023 and 2022.


(Amounts in thousands)	For the Year Ended December 31, 2024
	Total		New York		Other
Total revenues	$	1,787,686	$	1,471,997	$	315,689




Deduct: operating expenses(1)	(927,796)		(766,347)		(161,449)

Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(39,367)		(12,899)		(26,468)
Add: NOI from partially owned entities	279,229		269,159		10,070
NOI at share	$	1,099,752	$	961,910	$	137,842


(Amounts in thousands)	For the Year Ended December 31, 2023
	Total		New York		Other
Total revenues	$	1,811,163	$	1,452,158	$	359,005




Deduct: operating expenses(1)	(905,158)		(733,478)		(171,680)

Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(48,553)		(15,547)		(33,006)
Add: NOI from partially owned entities	285,761		274,436		11,325
NOI at share	$	1,143,213	$	977,569	$	165,644


(Amounts in thousands)	For the Year Ended December 31, 2022
	Total		New York		Other
Total revenues	$	1,799,995	$	1,449,442	$	350,553




Deduct: operating expenses(1)	(873,911)		(716,148)		(157,763)

Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(70,029)		(45,566)		(24,463)
Add: NOI from partially owned entities	305,993		293,780		12,213
NOI at share	$	1,162,048	$	981,508	$	180,540

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(1) Includes various expenses associated with operating our properties, including but not limited to: real estate taxes, ground rent, insurance, and utilities. Our CODM is not regularly provided with significant expense categories and amounts included within net operating income at share.

Below is a reconciliation of NOI at share to net income (loss) before income taxes for the years ended December 31, 2024, 2023 and 2022.


(Amounts in thousands)	For the Year Ended December 31,
	2024		2023		2022


NOI at share	$	1,099,752	$	1,143,213	$	1,162,048
NOI attributable to noncontrolling interests in consolidated subsidiaries	39,367		48,553		70,029
NOI from partially owned entities	(279,229)		(285,761)		(305,993)


Net gains on disposition of wholly owned and partially owned assets	16,048		71,199		100,625

Interest and debt expense	(390,269)		(349,223)		(279,765)
Interest and other investment income, net	45,974		43,287		23,410

Income (loss) from partially owned entities	112,464		38,689		(461,351)
Transaction related costs, impairment losses and other	(5,242)		(50,691)		(31,722)
General and administrative expense	(148,520)		(162,883)		(133,731)
Depreciation and amortization expense	(447,500)		(434,273)		(504,502)
Income (loss) before income taxes	$	42,845	$	62,110	$	(360,952)