CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash Flows from Operating Activities:
Net income	$ 932,290	$ 14,358
Adjustments to reconcile net income to net cash provided by operating activities:
Prepaid lease payment (net of initial direct costs)	901,409	0
Gain on sales-type lease	(803,248)	0
Depreciation and amortization (including amortization of deferred financing costs)	363,383	351,123
Equity in net income of partially owned entities	(135,588)	(82,457)
Distributions of income from partially owned entities	80,548	101,826
Straight-lining of rents	(44,235)	2,950
Net gains on disposition of wholly owned and partially owned assets	(24,039)	(16,048)
Amortization of interest rate cap premiums	20,387	32,792
Stock-based compensation expense	19,114	22,813
Change in deferred tax liability	683	9,823
Amortization of below-market leases, net	(284)	(2,842)
Other non-cash adjustments	2,488	11,427
Changes in operating assets and liabilities:
Tenant and other receivables	(30,318)	(7,054)
Prepaid assets	(52,554)	(60,506)
Other assets	(94,291)	(53,720)
Lease liabilities	(41,303)	13,201
Accounts payable and accrued expenses	20,519	(12,723)
Other liabilities	(2,849)	6,580
Net cash provided by operating activities	1,112,112	331,543
Cash Flows from Investing Activities:
Proceeds from partial redemption of Fifth Avenue and Times Square JV preferred equity	749,000	0
Acquisitions of real estate and other	(245,251)	0
Additions to real estate	(211,461)	(173,586)
Development costs and construction in progress	(117,404)	(187,799)
Distributions of capital from partially owned entities	47,288	0
Investment in loan receivable	(35,000)	(50,000)
Investments in partially owned entities	(29,162)	(109,301)
Proceeds from sales of real estate and other	25,675	2,000
Proceeds from sale of condominium units and ancillary amenities at 220 Central Park South	24,839	31,605
Net cash provided by (used in) investing activities	208,524	(487,081)
Cash Flows from Financing Activities:
Repayments of borrowings	(1,900,683)	(95,696)
Proceeds from borrowings	835,420	75,000
Dividends paid on preferred shares	(46,578)	(46,586)
Deferred financing costs	(6,809)	(13,667)
Contributions from noncontrolling interests	1,927	5,190
Distributions to noncontrolling interests	(1,396)	(1,269)
Other financing activity, net	(41)	57
Net cash used in financing activities	(1,118,160)	(76,971)
Net increase (decrease) in cash and cash equivalents and restricted cash	202,476	(232,509)
Cash and cash equivalents and restricted cash at beginning of period	949,619	1,261,584
Cash and cash equivalents and restricted cash at end of period	1,152,095	1,029,075
Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period	733,947	997,002
Restricted cash at beginning of period	215,672	264,582
Cash and cash equivalents and restricted cash	1,152,095	1,029,075
Cash and cash equivalents at end of period	1,009,876	783,596
Restricted cash at end of period	142,219	245,479
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest (excluding capitalized interest) and interest rate cap premiums	234,495	236,892
Cash payments for income taxes	5,006	6,010
Non-Cash Information:
Real estate	172,120	0
Receivable arising from the straight-lining of rents	26,362	0
Deferred leasing costs, net of accumulated amortization	60,308	0
Other	7,322	0
Write-off of fully depreciated assets	(86,619)	(78,360)
Redeemable Class A unit measurement adjustment	70,160	(180,547)
Change in fair value of consolidated interest rate hedges and other	(48,183)	(49,539)
Accrued capital expenditures included in accounts payable and accrued expenses	30,250	31,669
Reclassification of assets held for sale (included in "other assets")	$ 3,044	$ 15,279