XML 58 R33.htm IDEA: XBRL DOCUMENT v3.25.4
Interest and Other Investment Income, Net
 12 Months Ended
Dec. 31, 2025
Interest and Other Income [Abstract]  
Interest and Other Investment Income, Net Interest and Other Investment Income, Net
The following table sets forth the details of interest and other investment income, net:
(Amounts in thousands)For the Year Ended December 31,
202520242023
Interest on cash and cash equivalents and restricted cash$37,531 $42,571 $44,786 
Interest on loans receivable9,618 3,450 1,351 
Income (loss) from real estate fund investments(1)
6,047 (47)1,590 
Change in fair value of marketable securities1,917 — — 
Amortization of discount on investments in U.S. Treasury bills— — 3,829 
Credit losses on investments— — (8,269)
$55,113 $45,974 $43,287 
________________________________________
(1)On July 11, 2025, the Vornado Capital Partners Real Estate Fund (the “Fund”), which we consolidate, closed on the sale of The Lucida. The proceeds from the sale were used to repay the $145,000 non-recourse mortgage loan, which was in maturity default. As we have no carrying value or contingent liabilities related to The Lucida, this results in no impact to our consolidated financial statements. The Lucida was the final investment held by the Fund.