Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2025

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, 2025, 2024 and 2023 is set forth in Note 23 - Segment Information.


(Amounts in thousands)	For the Year Ended December 31, 2025
	Total		New York		Other
Property rentals	$	1,464,053	$	1,188,892	$	275,161
Trade shows	21,997		—		21,997
Sales type lease income(1)	6,634		6,634		—
Lease revenues(2)	1,492,684		1,195,526		297,158
Tenant services	45,237		31,839		13,398
Parking revenues	20,320		15,945		4,375
Rental revenues	1,558,241		1,243,310		314,931
BMS cleaning fees	157,686		166,526		(8,840)		(3)
Management and leasing fees	11,564		12,157		(593)
Other income	82,934		54,529		28,405
Fee and other income	252,184		233,212		18,972
Total revenues	$	1,810,425	$	1,476,522	$	333,903


(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(2)	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)		(3)
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

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See notes on following page.

3. Revenue Recognition - continued


(Amounts in thousands)	For the Year Ended December 31, 2023
	Total		New York		Other
Property rentals	$	1,523,890	$	1,222,229	$	301,661
Trade shows	20,781		—		20,781
Lease revenues(2)	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)		(3)
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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(1)See Note 5 - 770 Broadway for details.

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


	For the Year Ended December 31,
	2025		2024		2023
Fixed billings	$	1,367,177	$	1,355,033	$	1,394,626
Variable billings	118,873		153,011		150,045
Total contractual operating lease billings	1,486,050		1,508,044		1,544,671
Sales-type lease income	6,634		—		—

Lease revenues	$	1,492,684	$	1,508,044	$	1,544,671

(3)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.

Schedule of Components of Lease Revenues

The components of lease revenues were as follows:


	For the Year Ended December 31,
	2025		2024		2023
Fixed billings	$	1,367,177	$	1,355,033	$	1,394,626
Variable billings	118,873		153,011		150,045
Total contractual operating lease billings	1,486,050		1,508,044		1,544,671
Sales-type lease income	6,634		—		—

Lease revenues	$	1,492,684	$	1,508,044	$	1,544,671