Noncontrolling Interests

3 Months Ended

Mar. 31, 2023

Noncontrolling Interests in Consolidated Affiliates

As of March 31, 2023, our noncontrolling interest in consolidated affiliates relates to our joint venture partner's 20.0% interest in the Midtown West joint venture. Our joint venture partner is an unrelated third party.

Noncontrolling Interests in the Operating Partnership

The following table sets forth the Company’s noncontrolling interests in the Operating Partnership:


	Three Months Ended March 31,
		2023		2022
Beginning noncontrolling interests in the Operating Partnership		$	65,977	$	111,689
Adjustment of noncontrolling interests in the Operating Partnership to fair value		(11,102)		3,168



Net income attributable to noncontrolling interests in the Operating Partnership		986		965
Distributions to noncontrolling interests in the Operating Partnership		(1,179)		(1,252)
Total noncontrolling interests in the Operating Partnership		$	54,682	$	114,570

There were no transfers from noncontrolling interests during the three months ended March 31, 2023 and 2022.