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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s operating segments are based on our method of internal reporting which classifies our operations by geographic area. We aggregate these operating segments into two reportable segments, New York and Other, which is based on similar economic characteristics.
Net operating income ("NOI") at share represents total revenues less operating expenses including our share of partially owned entities. The Company's chief operating decision maker ("CODM") is its Chief Executive Officer, who considers NOI at share to be the measure of segment profit and loss for making decisions on how to allocate resources and assessing the unlevered performance of our segments as it relates to the return on assets as opposed to the levered return on equity.
Below is a summary of NOI at share by segment for the three months ended March 31, 2025 and 2024.
(Amounts in thousands)For the Three Months Ended March 31, 2025
TotalNew YorkOther
Total revenues$461,579 $376,206 $85,373 
Deduct: operating expenses(1)
(224,740)(183,640)(41,100)
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries(10,660)(3,347)(7,313)
Add: NOI from partially owned entities 67,111 64,098 3,013 
NOI at share$293,290 $253,317 $39,973 

(Amounts in thousands)For the Three Months Ended March 31, 2024
TotalNew YorkOther
Total revenues$436,375 $358,234 $78,141 
Deduct: operating expenses(1)
(226,224)(188,278)(37,946)
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries(11,396)(4,536)(6,860)
Add: NOI from partially owned entities 70,369 67,709 2,660 
NOI at share
$269,124 $233,129 $35,995 
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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.
18.    Segment Information - continued
Below is a reconciliation of NOI at share to income before income taxes for the three months ended March 31, 2025 and 2024.
(Amounts in thousands)For the Three Months Ended March 31,
20252024
NOI at share$293,290 $269,124 
NOI attributable to noncontrolling interests in consolidated subsidiaries10,660 11,396 
NOI from partially owned entities(67,111)(70,369)
Net gains on disposition of wholly owned and partially owned assets15,551 — 
Interest and debt expense(95,816)(90,478)
Interest and other investment income, net8,261 11,724 
Income from partially owned entities96,977 16,279 
Transaction related costs and other(43)(653)
General and administrative expense(38,597)(37,897)
Depreciation and amortization expense(116,155)(108,659)
Income before income taxes$107,017 $467