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On July 24, 2023, a joint venture, in which we have a 50 % interest, completed a $ 54,000,000 refinancing of the office condominium of 825 Seventh Avenue, a 173,000 square foot Manhattan office and retail building. The interest-only loan bears a rate of SOFR plus 2.75 %, with a 30 basis point reduction available upon satisfaction of certain leasing conditions, and matures in January 2026. The loan replaces the previous $ 60,000,000 loan that bore interest at LIBOR plus 2.35 % and was scheduled to mature in July 2023. | text | 30 | percentItemType | text: <entity> 30 </entity> <entity type> percentItemType </entity type> <context> On July 24, 2023, a joint venture, in which we have a 50 % interest, completed a $ 54,000,000 refinancing of the office condominium of 825 Seventh Avenue, a 173,000 square foot Manhattan office and retail building. The interest-only loan bears a rate of SOFR plus 2.75 %, with a 30 basis point reduction available upon satisfaction of certain leasing conditions, and matures in January 2026. The loan replaces the previous $ 60,000,000 loan that bore interest at LIBOR plus 2.35 % and was scheduled to mature in July 2023. </context> | us-gaap:DebtInstrumentInterestRateIncreaseDecrease |
On July 24, 2023, a joint venture, in which we have a 50 % interest, completed a $ 54,000,000 refinancing of the office condominium of 825 Seventh Avenue, a 173,000 square foot Manhattan office and retail building. The interest-only loan bears a rate of SOFR plus 2.75 %, with a 30 basis point reduction available upon satisfaction of certain leasing conditions, and matures in January 2026. The loan replaces the previous $ 60,000,000 loan that bore interest at LIBOR plus 2.35 % and was scheduled to mature in July 2023. | text | 60000000 | monetaryItemType | text: <entity> 60000000 </entity> <entity type> monetaryItemType </entity type> <context> On July 24, 2023, a joint venture, in which we have a 50 % interest, completed a $ 54,000,000 refinancing of the office condominium of 825 Seventh Avenue, a 173,000 square foot Manhattan office and retail building. The interest-only loan bears a rate of SOFR plus 2.75 %, with a 30 basis point reduction available upon satisfaction of certain leasing conditions, and matures in January 2026. The loan replaces the previous $ 60,000,000 loan that bore interest at LIBOR plus 2.35 % and was scheduled to mature in July 2023. </context> | us-gaap:LoansPayable |
On July 24, 2023, a joint venture, in which we have a 50 % interest, completed a $ 54,000,000 refinancing of the office condominium of 825 Seventh Avenue, a 173,000 square foot Manhattan office and retail building. The interest-only loan bears a rate of SOFR plus 2.75 %, with a 30 basis point reduction available upon satisfaction of certain leasing conditions, and matures in January 2026. The loan replaces the previous $ 60,000,000 loan that bore interest at LIBOR plus 2.35 % and was scheduled to mature in July 2023. | text | 2.35 | percentItemType | text: <entity> 2.35 </entity> <entity type> percentItemType </entity type> <context> On July 24, 2023, a joint venture, in which we have a 50 % interest, completed a $ 54,000,000 refinancing of the office condominium of 825 Seventh Avenue, a 173,000 square foot Manhattan office and retail building. The interest-only loan bears a rate of SOFR plus 2.75 %, with a 30 basis point reduction available upon satisfaction of certain leasing conditions, and matures in January 2026. The loan replaces the previous $ 60,000,000 loan that bore interest at LIBOR plus 2.35 % and was scheduled to mature in July 2023. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9 % common equity interest and an initial capital account of $ 47,944,000 , comprised of (i) the $ 40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $ 7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1 % common equity interest in Pier 94 JV and an initial capital account of $ 22,976,000 in exchange for (i) a $ 15,000,000 cash contribution upon the joint venture’s formation and (ii) a $ 7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100 % of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. | text | 49.9 | percentItemType | text: <entity> 49.9 </entity> <entity type> percentItemType </entity type> <context> We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9 % common equity interest and an initial capital account of $ 47,944,000 , comprised of (i) the $ 40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $ 7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1 % common equity interest in Pier 94 JV and an initial capital account of $ 22,976,000 in exchange for (i) a $ 15,000,000 cash contribution upon the joint venture’s formation and (ii) a $ 7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100 % of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9 % common equity interest and an initial capital account of $ 47,944,000 , comprised of (i) the $ 40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $ 7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1 % common equity interest in Pier 94 JV and an initial capital account of $ 22,976,000 in exchange for (i) a $ 15,000,000 cash contribution upon the joint venture’s formation and (ii) a $ 7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100 % of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. | text | 47944000 | monetaryItemType | text: <entity> 47944000 </entity> <entity type> monetaryItemType </entity type> <context> We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9 % common equity interest and an initial capital account of $ 47,944,000 , comprised of (i) the $ 40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $ 7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1 % common equity interest in Pier 94 JV and an initial capital account of $ 22,976,000 in exchange for (i) a $ 15,000,000 cash contribution upon the joint venture’s formation and (ii) a $ 7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100 % of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. </context> | us-gaap:InvestmentOwnedAtCost |
We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9 % common equity interest and an initial capital account of $ 47,944,000 , comprised of (i) the $ 40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $ 7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1 % common equity interest in Pier 94 JV and an initial capital account of $ 22,976,000 in exchange for (i) a $ 15,000,000 cash contribution upon the joint venture’s formation and (ii) a $ 7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100 % of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. | text | 40000000 | monetaryItemType | text: <entity> 40000000 </entity> <entity type> monetaryItemType </entity type> <context> We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9 % common equity interest and an initial capital account of $ 47,944,000 , comprised of (i) the $ 40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $ 7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1 % common equity interest in Pier 94 JV and an initial capital account of $ 22,976,000 in exchange for (i) a $ 15,000,000 cash contribution upon the joint venture’s formation and (ii) a $ 7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100 % of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. </context> | us-gaap:ContributionOfProperty |
We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9 % common equity interest and an initial capital account of $ 47,944,000 , comprised of (i) the $ 40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $ 7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1 % common equity interest in Pier 94 JV and an initial capital account of $ 22,976,000 in exchange for (i) a $ 15,000,000 cash contribution upon the joint venture’s formation and (ii) a $ 7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100 % of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. | text | 50.1 | percentItemType | text: <entity> 50.1 </entity> <entity type> percentItemType </entity type> <context> We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9 % common equity interest and an initial capital account of $ 47,944,000 , comprised of (i) the $ 40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $ 7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1 % common equity interest in Pier 94 JV and an initial capital account of $ 22,976,000 in exchange for (i) a $ 15,000,000 cash contribution upon the joint venture’s formation and (ii) a $ 7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100 % of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9 % common equity interest and an initial capital account of $ 47,944,000 , comprised of (i) the $ 40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $ 7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1 % common equity interest in Pier 94 JV and an initial capital account of $ 22,976,000 in exchange for (i) a $ 15,000,000 cash contribution upon the joint venture’s formation and (ii) a $ 7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100 % of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. | text | 22976000 | monetaryItemType | text: <entity> 22976000 </entity> <entity type> monetaryItemType </entity type> <context> We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9 % common equity interest and an initial capital account of $ 47,944,000 , comprised of (i) the $ 40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $ 7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1 % common equity interest in Pier 94 JV and an initial capital account of $ 22,976,000 in exchange for (i) a $ 15,000,000 cash contribution upon the joint venture’s formation and (ii) a $ 7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100 % of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. </context> | us-gaap:InvestmentOwnedAtCost |
Pier 94 JV closed on a $ 183,200,000 construction loan facility ($ 100,000 outstanding as of December 31, 2023) which bears interest at SOFR plus 4.75 % and matures in September 2025, with one one-year as-of-right extension option and two one-year extension options subject to certain conditions. VRLP and the other partners provided a joint and several completion guarantee. | text | 183200000 | monetaryItemType | text: <entity> 183200000 </entity> <entity type> monetaryItemType </entity type> <context> Pier 94 JV closed on a $ 183,200,000 construction loan facility ($ 100,000 outstanding as of December 31, 2023) which bears interest at SOFR plus 4.75 % and matures in September 2025, with one one-year as-of-right extension option and two one-year extension options subject to certain conditions. VRLP and the other partners provided a joint and several completion guarantee. </context> | us-gaap:ConstructionLoan |
Pier 94 JV closed on a $ 183,200,000 construction loan facility ($ 100,000 outstanding as of December 31, 2023) which bears interest at SOFR plus 4.75 % and matures in September 2025, with one one-year as-of-right extension option and two one-year extension options subject to certain conditions. VRLP and the other partners provided a joint and several completion guarantee. | text | 100000 | monetaryItemType | text: <entity> 100000 </entity> <entity type> monetaryItemType </entity type> <context> Pier 94 JV closed on a $ 183,200,000 construction loan facility ($ 100,000 outstanding as of December 31, 2023) which bears interest at SOFR plus 4.75 % and matures in September 2025, with one one-year as-of-right extension option and two one-year extension options subject to certain conditions. VRLP and the other partners provided a joint and several completion guarantee. </context> | us-gaap:DebtInstrumentCarryingAmount |
Pier 94 JV closed on a $ 183,200,000 construction loan facility ($ 100,000 outstanding as of December 31, 2023) which bears interest at SOFR plus 4.75 % and matures in September 2025, with one one-year as-of-right extension option and two one-year extension options subject to certain conditions. VRLP and the other partners provided a joint and several completion guarantee. | text | 4.75 | percentItemType | text: <entity> 4.75 </entity> <entity type> percentItemType </entity type> <context> Pier 94 JV closed on a $ 183,200,000 construction loan facility ($ 100,000 outstanding as of December 31, 2023) which bears interest at SOFR plus 4.75 % and matures in September 2025, with one one-year as-of-right extension option and two one-year extension options subject to certain conditions. VRLP and the other partners provided a joint and several completion guarantee. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The development cost of the project is estimated to be $ 350,000,000 , which will be funded with $ 183,200,000 of construction financing (described above) and $ 166,800,000 of equity contributions. Our share of equity contributions will be funded by (i) our $ 40,000,000 Pier 94 leasehold interest contribution and (ii) $ 34,000,000 of cash contributions, which are net of an estimated $ 9,000,000 for our share of development fees and reimbursement for overhead costs incurred by us. | text | 183200000 | monetaryItemType | text: <entity> 183200000 </entity> <entity type> monetaryItemType </entity type> <context> The development cost of the project is estimated to be $ 350,000,000 , which will be funded with $ 183,200,000 of construction financing (described above) and $ 166,800,000 of equity contributions. Our share of equity contributions will be funded by (i) our $ 40,000,000 Pier 94 leasehold interest contribution and (ii) $ 34,000,000 of cash contributions, which are net of an estimated $ 9,000,000 for our share of development fees and reimbursement for overhead costs incurred by us. </context> | us-gaap:ConstructionLoan |
The development cost of the project is estimated to be $ 350,000,000 , which will be funded with $ 183,200,000 of construction financing (described above) and $ 166,800,000 of equity contributions. Our share of equity contributions will be funded by (i) our $ 40,000,000 Pier 94 leasehold interest contribution and (ii) $ 34,000,000 of cash contributions, which are net of an estimated $ 9,000,000 for our share of development fees and reimbursement for overhead costs incurred by us. | text | 166800000 | monetaryItemType | text: <entity> 166800000 </entity> <entity type> monetaryItemType </entity type> <context> The development cost of the project is estimated to be $ 350,000,000 , which will be funded with $ 183,200,000 of construction financing (described above) and $ 166,800,000 of equity contributions. Our share of equity contributions will be funded by (i) our $ 40,000,000 Pier 94 leasehold interest contribution and (ii) $ 34,000,000 of cash contributions, which are net of an estimated $ 9,000,000 for our share of development fees and reimbursement for overhead costs incurred by us. </context> | us-gaap:ProceedsFromContributionsFromParent |
The development cost of the project is estimated to be $ 350,000,000 , which will be funded with $ 183,200,000 of construction financing (described above) and $ 166,800,000 of equity contributions. Our share of equity contributions will be funded by (i) our $ 40,000,000 Pier 94 leasehold interest contribution and (ii) $ 34,000,000 of cash contributions, which are net of an estimated $ 9,000,000 for our share of development fees and reimbursement for overhead costs incurred by us. | text | 40000000 | monetaryItemType | text: <entity> 40000000 </entity> <entity type> monetaryItemType </entity type> <context> The development cost of the project is estimated to be $ 350,000,000 , which will be funded with $ 183,200,000 of construction financing (described above) and $ 166,800,000 of equity contributions. Our share of equity contributions will be funded by (i) our $ 40,000,000 Pier 94 leasehold interest contribution and (ii) $ 34,000,000 of cash contributions, which are net of an estimated $ 9,000,000 for our share of development fees and reimbursement for overhead costs incurred by us. </context> | us-gaap:ContributionOfProperty |
Upon contribution of the Pier 94 leasehold, we recognized a $ 35,968,000 net gain primarily due to the step-up of our retained investment in the leasehold interest to fair value. The net gain was included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income for the year ended December 31, 2023. | text | 35968000 | monetaryItemType | text: <entity> 35968000 </entity> <entity type> monetaryItemType </entity type> <context> Upon contribution of the Pier 94 leasehold, we recognized a $ 35,968,000 net gain primarily due to the step-up of our retained investment in the leasehold interest to fair value. The net gain was included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income for the year ended December 31, 2023. </context> | us-gaap:GainLossOnDispositionOfAssets1 |
In 2023 and 2022, we recognized $ 50,458 and $ 93,353 , respectively, of impairment losses. | text | 50458 | monetaryItemType | text: <entity> 50458 </entity> <entity type> monetaryItemType </entity type> <context> In 2023 and 2022, we recognized $ 50,458 and $ 93,353 , respectively, of impairment losses. </context> | us-gaap:ImpairmentOfRealEstate |
In 2023 and 2022, we recognized $ 50,458 and $ 93,353 , respectively, of impairment losses. | text | 93353 | monetaryItemType | text: <entity> 93353 </entity> <entity type> monetaryItemType </entity type> <context> In 2023 and 2022, we recognized $ 50,458 and $ 93,353 , respectively, of impairment losses. </context> | us-gaap:ImpairmentOfRealEstate |
Includes interests in Independence Plaza, Rosslyn Plaza and others. 2022 includes $ 17,185 of net gains from dispositions of two investments. | text | 17185 | monetaryItemType | text: <entity> 17185 </entity> <entity type> monetaryItemType </entity type> <context> Includes interests in Independence Plaza, Rosslyn Plaza and others. 2022 includes $ 17,185 of net gains from dispositions of two investments. </context> | us-gaap:GainLossOnDispositionOfAssets1 |
In addition, we entered into a joint venture with Rudin (the “Vornado/Rudin JV”) which was formed to purchase 39 East 51st Street. Upon formation of the KG joint venture described below, 39 East 51st Street will be combined with 350 Park Avenue and 40 East 52nd Street to create a premier development site (collectively, the “Site”). On June 20, 2023, the Vornado/Rudin JV completed the purchase of 39 East 51st Street for $ 40,000,000 , which was funded on a 50 / 50 basis by Vornado and Rudin. | text | 40000000 | monetaryItemType | text: <entity> 40000000 </entity> <entity type> monetaryItemType </entity type> <context> In addition, we entered into a joint venture with Rudin (the “Vornado/Rudin JV”) which was formed to purchase 39 East 51st Street. Upon formation of the KG joint venture described below, 39 East 51st Street will be combined with 350 Park Avenue and 40 East 52nd Street to create a premier development site (collectively, the “Site”). On June 20, 2023, the Vornado/Rudin JV completed the purchase of 39 East 51st Street for $ 40,000,000 , which was funded on a 50 / 50 basis by Vornado and Rudin. </context> | us-gaap:PaymentsToAcquireRealEstate |
acquire a 60 % interest in a joint venture with the Vornado/Rudin JV that would value the Site at $ 1.2 billion ($ 900,000,000 to Vornado and $ 300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60 % of the joint venture and the Vornado/Rudin JV would own 40 % (with Vornado owning 36 % and Rudin owning 4 % of the joint venture along with a $ 250,000,000 preferred equity interest in the Vornado/Rudin JV). | text | 60 | percentItemType | text: <entity> 60 </entity> <entity type> percentItemType </entity type> <context> acquire a 60 % interest in a joint venture with the Vornado/Rudin JV that would value the Site at $ 1.2 billion ($ 900,000,000 to Vornado and $ 300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60 % of the joint venture and the Vornado/Rudin JV would own 40 % (with Vornado owning 36 % and Rudin owning 4 % of the joint venture along with a $ 250,000,000 preferred equity interest in the Vornado/Rudin JV). </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
acquire a 60 % interest in a joint venture with the Vornado/Rudin JV that would value the Site at $ 1.2 billion ($ 900,000,000 to Vornado and $ 300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60 % of the joint venture and the Vornado/Rudin JV would own 40 % (with Vornado owning 36 % and Rudin owning 4 % of the joint venture along with a $ 250,000,000 preferred equity interest in the Vornado/Rudin JV). | text | 40 | percentItemType | text: <entity> 40 </entity> <entity type> percentItemType </entity type> <context> acquire a 60 % interest in a joint venture with the Vornado/Rudin JV that would value the Site at $ 1.2 billion ($ 900,000,000 to Vornado and $ 300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60 % of the joint venture and the Vornado/Rudin JV would own 40 % (with Vornado owning 36 % and Rudin owning 4 % of the joint venture along with a $ 250,000,000 preferred equity interest in the Vornado/Rudin JV). </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
acquire a 60 % interest in a joint venture with the Vornado/Rudin JV that would value the Site at $ 1.2 billion ($ 900,000,000 to Vornado and $ 300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60 % of the joint venture and the Vornado/Rudin JV would own 40 % (with Vornado owning 36 % and Rudin owning 4 % of the joint venture along with a $ 250,000,000 preferred equity interest in the Vornado/Rudin JV). | text | 36 | percentItemType | text: <entity> 36 </entity> <entity type> percentItemType </entity type> <context> acquire a 60 % interest in a joint venture with the Vornado/Rudin JV that would value the Site at $ 1.2 billion ($ 900,000,000 to Vornado and $ 300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60 % of the joint venture and the Vornado/Rudin JV would own 40 % (with Vornado owning 36 % and Rudin owning 4 % of the joint venture along with a $ 250,000,000 preferred equity interest in the Vornado/Rudin JV). </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
acquire a 60 % interest in a joint venture with the Vornado/Rudin JV that would value the Site at $ 1.2 billion ($ 900,000,000 to Vornado and $ 300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60 % of the joint venture and the Vornado/Rudin JV would own 40 % (with Vornado owning 36 % and Rudin owning 4 % of the joint venture along with a $ 250,000,000 preferred equity interest in the Vornado/Rudin JV). | text | 4 | percentItemType | text: <entity> 4 </entity> <entity type> percentItemType </entity type> <context> acquire a 60 % interest in a joint venture with the Vornado/Rudin JV that would value the Site at $ 1.2 billion ($ 900,000,000 to Vornado and $ 300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60 % of the joint venture and the Vornado/Rudin JV would own 40 % (with Vornado owning 36 % and Rudin owning 4 % of the joint venture along with a $ 250,000,000 preferred equity interest in the Vornado/Rudin JV). </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
acquire a 60 % interest in a joint venture with the Vornado/Rudin JV that would value the Site at $ 1.2 billion ($ 900,000,000 to Vornado and $ 300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60 % of the joint venture and the Vornado/Rudin JV would own 40 % (with Vornado owning 36 % and Rudin owning 4 % of the joint venture along with a $ 250,000,000 preferred equity interest in the Vornado/Rudin JV). | text | 250000000 | monetaryItemType | text: <entity> 250000000 </entity> <entity type> monetaryItemType </entity type> <context> acquire a 60 % interest in a joint venture with the Vornado/Rudin JV that would value the Site at $ 1.2 billion ($ 900,000,000 to Vornado and $ 300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60 % of the joint venture and the Vornado/Rudin JV would own 40 % (with Vornado owning 36 % and Rudin owning 4 % of the joint venture along with a $ 250,000,000 preferred equity interest in the Vornado/Rudin JV). </context> | us-gaap:RealEstateInvestmentsJointVentures |
3, 2023, we completed the sale of The Armory Show, located in New York, for $ 24,410,000 , subject to certain post-closing adjustments, and realized net proceeds of $ 22,489,000 . In connection with the sale, we recognized a net gain of $ 20,181,000 which is included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income. | text | 24410000 | monetaryItemType | text: <entity> 24410000 </entity> <entity type> monetaryItemType </entity type> <context> 3, 2023, we completed the sale of The Armory Show, located in New York, for $ 24,410,000 , subject to certain post-closing adjustments, and realized net proceeds of $ 22,489,000 . In connection with the sale, we recognized a net gain of $ 20,181,000 which is included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
3, 2023, we completed the sale of The Armory Show, located in New York, for $ 24,410,000 , subject to certain post-closing adjustments, and realized net proceeds of $ 22,489,000 . In connection with the sale, we recognized a net gain of $ 20,181,000 which is included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income. | text | 22489000 | monetaryItemType | text: <entity> 22489000 </entity> <entity type> monetaryItemType </entity type> <context> 3, 2023, we completed the sale of The Armory Show, located in New York, for $ 24,410,000 , subject to certain post-closing adjustments, and realized net proceeds of $ 22,489,000 . In connection with the sale, we recognized a net gain of $ 20,181,000 which is included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income. </context> | us-gaap:ProceedsFromSaleOfRealEstate |
3, 2023, we completed the sale of The Armory Show, located in New York, for $ 24,410,000 , subject to certain post-closing adjustments, and realized net proceeds of $ 22,489,000 . In connection with the sale, we recognized a net gain of $ 20,181,000 which is included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income. | text | 20181000 | monetaryItemType | text: <entity> 20181000 </entity> <entity type> monetaryItemType </entity type> <context> 3, 2023, we completed the sale of The Armory Show, located in New York, for $ 24,410,000 , subject to certain post-closing adjustments, and realized net proceeds of $ 22,489,000 . In connection with the sale, we recognized a net gain of $ 20,181,000 which is included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income. </context> | us-gaap:GainsLossesOnSalesOfInvestmentRealEstate |
On August 10, 2023, we completed the sale of four Manhattan retail properties located at 510 Fifth Avenue, 148–150 Spring Street, 443 Broadway and 692 Broadway for $ 100,000,000 and realized net proceeds of $ 95,450,000 . In connection with the sale, we recognized an impairment loss of $ 625,000 which is included in “impairment losses, transaction related costs and other” on our consolidated statements of income. | text | 100000000 | monetaryItemType | text: <entity> 100000000 </entity> <entity type> monetaryItemType </entity type> <context> On August 10, 2023, we completed the sale of four Manhattan retail properties located at 510 Fifth Avenue, 148–150 Spring Street, 443 Broadway and 692 Broadway for $ 100,000,000 and realized net proceeds of $ 95,450,000 . In connection with the sale, we recognized an impairment loss of $ 625,000 which is included in “impairment losses, transaction related costs and other” on our consolidated statements of income. </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationConsideration |
On August 10, 2023, we completed the sale of four Manhattan retail properties located at 510 Fifth Avenue, 148–150 Spring Street, 443 Broadway and 692 Broadway for $ 100,000,000 and realized net proceeds of $ 95,450,000 . In connection with the sale, we recognized an impairment loss of $ 625,000 which is included in “impairment losses, transaction related costs and other” on our consolidated statements of income. | text | 95450000 | monetaryItemType | text: <entity> 95450000 </entity> <entity type> monetaryItemType </entity type> <context> On August 10, 2023, we completed the sale of four Manhattan retail properties located at 510 Fifth Avenue, 148–150 Spring Street, 443 Broadway and 692 Broadway for $ 100,000,000 and realized net proceeds of $ 95,450,000 . In connection with the sale, we recognized an impairment loss of $ 625,000 which is included in “impairment losses, transaction related costs and other” on our consolidated statements of income. </context> | us-gaap:ProceedsFromSaleOfRealEstate |
On August 10, 2023, we completed the sale of four Manhattan retail properties located at 510 Fifth Avenue, 148–150 Spring Street, 443 Broadway and 692 Broadway for $ 100,000,000 and realized net proceeds of $ 95,450,000 . In connection with the sale, we recognized an impairment loss of $ 625,000 which is included in “impairment losses, transaction related costs and other” on our consolidated statements of income. | text | 625000 | monetaryItemType | text: <entity> 625000 </entity> <entity type> monetaryItemType </entity type> <context> On August 10, 2023, we completed the sale of four Manhattan retail properties located at 510 Fifth Avenue, 148–150 Spring Street, 443 Broadway and 692 Broadway for $ 100,000,000 and realized net proceeds of $ 95,450,000 . In connection with the sale, we recognized an impairment loss of $ 625,000 which is included in “impairment losses, transaction related costs and other” on our consolidated statements of income. </context> | us-gaap:AssetImpairmentCharges |
During the year ended December 31, 2023, we closed on the sale of two condominium units at 220 CPS for net proceeds of $ 24,484,000 resulting in a financial statement net gain of $ 14,127,000 which is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. In connection with these sales, $ 2,168,000 of income tax expense was recognized on our consolidated statements of income. | text | 24484000 | monetaryItemType | text: <entity> 24484000 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we closed on the sale of two condominium units at 220 CPS for net proceeds of $ 24,484,000 resulting in a financial statement net gain of $ 14,127,000 which is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. In connection with these sales, $ 2,168,000 of income tax expense was recognized on our consolidated statements of income. </context> | us-gaap:ProceedsFromSaleOfRealEstate |
During the year ended December 31, 2023, we closed on the sale of two condominium units at 220 CPS for net proceeds of $ 24,484,000 resulting in a financial statement net gain of $ 14,127,000 which is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. In connection with these sales, $ 2,168,000 of income tax expense was recognized on our consolidated statements of income. | text | 14127000 | monetaryItemType | text: <entity> 14127000 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we closed on the sale of two condominium units at 220 CPS for net proceeds of $ 24,484,000 resulting in a financial statement net gain of $ 14,127,000 which is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. In connection with these sales, $ 2,168,000 of income tax expense was recognized on our consolidated statements of income. </context> | us-gaap:GainsLossesOnSalesOfInvestmentRealEstate |
During the year ended December 31, 2023, we closed on the sale of two condominium units at 220 CPS for net proceeds of $ 24,484,000 resulting in a financial statement net gain of $ 14,127,000 which is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. In connection with these sales, $ 2,168,000 of income tax expense was recognized on our consolidated statements of income. | text | 2168000 | monetaryItemType | text: <entity> 2168000 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we closed on the sale of two condominium units at 220 CPS for net proceeds of $ 24,484,000 resulting in a financial statement net gain of $ 14,127,000 which is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. In connection with these sales, $ 2,168,000 of income tax expense was recognized on our consolidated statements of income. </context> | us-gaap:DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation |
Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $ 5,268,000 , $ 5,178,000 and $ 9,249,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: | text | 5268000 | monetaryItemType | text: <entity> 5268000 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $ 5,268,000 , $ 5,178,000 and $ 9,249,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $ 5,268,000 , $ 5,178,000 and $ 9,249,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: | text | 5178000 | monetaryItemType | text: <entity> 5178000 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $ 5,268,000 , $ 5,178,000 and $ 9,249,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $ 5,268,000 , $ 5,178,000 and $ 9,249,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: | text | 9249000 | monetaryItemType | text: <entity> 9249000 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $ 5,268,000 , $ 5,178,000 and $ 9,249,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $ 8,342,000 , $ 10,516,000 and $ 7,330,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: | text | 8342000 | monetaryItemType | text: <entity> 8342000 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $ 8,342,000 , $ 10,516,000 and $ 7,330,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $ 8,342,000 , $ 10,516,000 and $ 7,330,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: | text | 10516000 | monetaryItemType | text: <entity> 10516000 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $ 8,342,000 , $ 10,516,000 and $ 7,330,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $ 8,342,000 , $ 10,516,000 and $ 7,330,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: | text | 7330000 | monetaryItemType | text: <entity> 7330000 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $ 8,342,000 , $ 10,516,000 and $ 7,330,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: </context> | us-gaap:AmortizationOfIntangibleAssets |
On January 9, 2023, our $ 105,000,000 participation in the $ 205,000,000 mortgage loan on 150 West 34th Street was repaid, which reduced “other assets” and “mortgages payable, net” on our consolidated balance sheets by $ 105,000,000 . | text | 105000000 | monetaryItemType | text: <entity> 105000000 </entity> <entity type> monetaryItemType </entity type> <context> On January 9, 2023, our $ 105,000,000 participation in the $ 205,000,000 mortgage loan on 150 West 34th Street was repaid, which reduced “other assets” and “mortgages payable, net” on our consolidated balance sheets by $ 105,000,000 . </context> | us-gaap:ParticipatingMortgageLoansMortgageObligationsAmount |
On January 9, 2023, our $ 105,000,000 participation in the $ 205,000,000 mortgage loan on 150 West 34th Street was repaid, which reduced “other assets” and “mortgages payable, net” on our consolidated balance sheets by $ 105,000,000 . | text | 205000000 | monetaryItemType | text: <entity> 205000000 </entity> <entity type> monetaryItemType </entity type> <context> On January 9, 2023, our $ 105,000,000 participation in the $ 205,000,000 mortgage loan on 150 West 34th Street was repaid, which reduced “other assets” and “mortgages payable, net” on our consolidated balance sheets by $ 105,000,000 . </context> | us-gaap:DebtInstrumentFaceAmount |
On January 9, 2023, our $ 105,000,000 participation in the $ 205,000,000 mortgage loan on 150 West 34th Street was repaid, which reduced “other assets” and “mortgages payable, net” on our consolidated balance sheets by $ 105,000,000 . | text | 105000000 | monetaryItemType | text: <entity> 105000000 </entity> <entity type> monetaryItemType </entity type> <context> On January 9, 2023, our $ 105,000,000 participation in the $ 205,000,000 mortgage loan on 150 West 34th Street was repaid, which reduced “other assets” and “mortgages payable, net” on our consolidated balance sheets by $ 105,000,000 . </context> | us-gaap:ParticipatingMortgageLoansParticipationLiabilitiesAmount |
On June 29, 2023, we entered into a forward two-year 1.00 % SOFR interest rate cap arrangement for the $ 950,000,000 SOFR plus 1.62 % mortgage loan. We made a $ 63,100,000 up-front payment (of which $ 18,930,000 is attributable to noncontrolling interests), which was recorded to “other assets” on our consolidated balance sheets. The forward cap was effective upon the November 2023 expiration of the previous 3.89 % SOFR interest rate cap. | text | 1.00 | percentItemType | text: <entity> 1.00 </entity> <entity type> percentItemType </entity type> <context> On June 29, 2023, we entered into a forward two-year 1.00 % SOFR interest rate cap arrangement for the $ 950,000,000 SOFR plus 1.62 % mortgage loan. We made a $ 63,100,000 up-front payment (of which $ 18,930,000 is attributable to noncontrolling interests), which was recorded to “other assets” on our consolidated balance sheets. The forward cap was effective upon the November 2023 expiration of the previous 3.89 % SOFR interest rate cap. </context> | us-gaap:DerivativeVariableInterestRate |
On June 29, 2023, we entered into a forward two-year 1.00 % SOFR interest rate cap arrangement for the $ 950,000,000 SOFR plus 1.62 % mortgage loan. We made a $ 63,100,000 up-front payment (of which $ 18,930,000 is attributable to noncontrolling interests), which was recorded to “other assets” on our consolidated balance sheets. The forward cap was effective upon the November 2023 expiration of the previous 3.89 % SOFR interest rate cap. | text | 950000000 | monetaryItemType | text: <entity> 950000000 </entity> <entity type> monetaryItemType </entity type> <context> On June 29, 2023, we entered into a forward two-year 1.00 % SOFR interest rate cap arrangement for the $ 950,000,000 SOFR plus 1.62 % mortgage loan. We made a $ 63,100,000 up-front payment (of which $ 18,930,000 is attributable to noncontrolling interests), which was recorded to “other assets” on our consolidated balance sheets. The forward cap was effective upon the November 2023 expiration of the previous 3.89 % SOFR interest rate cap. </context> | us-gaap:DebtInstrumentFaceAmount |
On June 29, 2023, we entered into a forward two-year 1.00 % SOFR interest rate cap arrangement for the $ 950,000,000 SOFR plus 1.62 % mortgage loan. We made a $ 63,100,000 up-front payment (of which $ 18,930,000 is attributable to noncontrolling interests), which was recorded to “other assets” on our consolidated balance sheets. The forward cap was effective upon the November 2023 expiration of the previous 3.89 % SOFR interest rate cap. | text | 1.62 | percentItemType | text: <entity> 1.62 </entity> <entity type> percentItemType </entity type> <context> On June 29, 2023, we entered into a forward two-year 1.00 % SOFR interest rate cap arrangement for the $ 950,000,000 SOFR plus 1.62 % mortgage loan. We made a $ 63,100,000 up-front payment (of which $ 18,930,000 is attributable to noncontrolling interests), which was recorded to “other assets” on our consolidated balance sheets. The forward cap was effective upon the November 2023 expiration of the previous 3.89 % SOFR interest rate cap. </context> | us-gaap:DerivativeBasisSpreadOnVariableRate |
On June 29, 2023, we entered into a forward two-year 1.00 % SOFR interest rate cap arrangement for the $ 950,000,000 SOFR plus 1.62 % mortgage loan. We made a $ 63,100,000 up-front payment (of which $ 18,930,000 is attributable to noncontrolling interests), which was recorded to “other assets” on our consolidated balance sheets. The forward cap was effective upon the November 2023 expiration of the previous 3.89 % SOFR interest rate cap. | text | 3.89 | percentItemType | text: <entity> 3.89 </entity> <entity type> percentItemType </entity type> <context> On June 29, 2023, we entered into a forward two-year 1.00 % SOFR interest rate cap arrangement for the $ 950,000,000 SOFR plus 1.62 % mortgage loan. We made a $ 63,100,000 up-front payment (of which $ 18,930,000 is attributable to noncontrolling interests), which was recorded to “other assets” on our consolidated balance sheets. The forward cap was effective upon the November 2023 expiration of the previous 3.89 % SOFR interest rate cap. </context> | us-gaap:DerivativeCapInterestRate |
Includes variable rate mortgages with interest rates fixed by interest rate swap arrangements and the $ 950,000 1290 Avenue of the Americas mortgage loan which is subject to a 1.00 % SOFR interest rate cap arrangement. | text | 950000 | monetaryItemType | text: <entity> 950000 </entity> <entity type> monetaryItemType </entity type> <context> Includes variable rate mortgages with interest rates fixed by interest rate swap arrangements and the $ 950,000 1290 Avenue of the Americas mortgage loan which is subject to a 1.00 % SOFR interest rate cap arrangement. </context> | us-gaap:DerivativeNotionalAmount |
Includes variable rate mortgages with interest rates fixed by interest rate swap arrangements and the $ 950,000 1290 Avenue of the Americas mortgage loan which is subject to a 1.00 % SOFR interest rate cap arrangement. | text | 1.00 | percentItemType | text: <entity> 1.00 </entity> <entity type> percentItemType </entity type> <context> Includes variable rate mortgages with interest rates fixed by interest rate swap arrangements and the $ 950,000 1290 Avenue of the Americas mortgage loan which is subject to a 1.00 % SOFR interest rate cap arrangement. </context> | us-gaap:DerivativeCapInterestRate |
Includes variable rate mortgages subject to interest rate cap arrangements, except for the 1290 Avenue of the Americas mortgage loan discussed above. As of December 31, 2023, $ 1,034,119 of our variable rate debt is subject to interest rate cap arrangements. The interest rate cap arrangements have a weighted average strike rate of 4.50 % and a weighted average remaining term of 10 months. | text | 1034119 | monetaryItemType | text: <entity> 1034119 </entity> <entity type> monetaryItemType </entity type> <context> Includes variable rate mortgages subject to interest rate cap arrangements, except for the 1290 Avenue of the Americas mortgage loan discussed above. As of December 31, 2023, $ 1,034,119 of our variable rate debt is subject to interest rate cap arrangements. The interest rate cap arrangements have a weighted average strike rate of 4.50 % and a weighted average remaining term of 10 months. </context> | us-gaap:DerivativeNotionalAmount |
Includes variable rate mortgages subject to interest rate cap arrangements, except for the 1290 Avenue of the Americas mortgage loan discussed above. As of December 31, 2023, $ 1,034,119 of our variable rate debt is subject to interest rate cap arrangements. The interest rate cap arrangements have a weighted average strike rate of 4.50 % and a weighted average remaining term of 10 months. | text | 4.50 | percentItemType | text: <entity> 4.50 </entity> <entity type> percentItemType </entity type> <context> Includes variable rate mortgages subject to interest rate cap arrangements, except for the 1290 Avenue of the Americas mortgage loan discussed above. As of December 31, 2023, $ 1,034,119 of our variable rate debt is subject to interest rate cap arrangements. The interest rate cap arrangements have a weighted average strike rate of 4.50 % and a weighted average remaining term of 10 months. </context> | us-gaap:DerivativeCapInterestRate |
As of December 31, 2023 and 2022, the aggregate redemption value of redeemable Class A units of the Operating Partnership, was $ 480,251,000 and $ 300,015,000 , respectively, based on Vornado’s quarter-end closing common share price. | text | 480251000 | monetaryItemType | text: <entity> 480251000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, the aggregate redemption value of redeemable Class A units of the Operating Partnership, was $ 480,251,000 and $ 300,015,000 , respectively, based on Vornado’s quarter-end closing common share price. </context> | us-gaap:RedeemableNoncontrollingInterestEquityCommonRedemptionValue |
As of December 31, 2023 and 2022, the aggregate redemption value of redeemable Class A units of the Operating Partnership, was $ 480,251,000 and $ 300,015,000 , respectively, based on Vornado’s quarter-end closing common share price. | text | 300015000 | monetaryItemType | text: <entity> 300015000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, the aggregate redemption value of redeemable Class A units of the Operating Partnership, was $ 480,251,000 and $ 300,015,000 , respectively, based on Vornado’s quarter-end closing common share price. </context> | us-gaap:RedeemableNoncontrollingInterestEquityCommonRedemptionValue |
Redeemable noncontrolling partnership units exclude our Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units, as they are accounted for as liabilities in accordance with ASC Topic 480, Distinguishing Liabilities and Equity. Accordingly, the fair value of these units is included as a component of "other liabilities" on our consolidated balance sheets and aggregated $ 49,386,000 and $ 49,383,000 as of December 31, 2023 and 2022, respectively. Changes in the value from period-to-period, if any, are charged to “interest and debt expense” on our consolidated statements of income. | text | 49386000 | monetaryItemType | text: <entity> 49386000 </entity> <entity type> monetaryItemType </entity type> <context> Redeemable noncontrolling partnership units exclude our Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units, as they are accounted for as liabilities in accordance with ASC Topic 480, Distinguishing Liabilities and Equity. Accordingly, the fair value of these units is included as a component of "other liabilities" on our consolidated balance sheets and aggregated $ 49,386,000 and $ 49,383,000 as of December 31, 2023 and 2022, respectively. Changes in the value from period-to-period, if any, are charged to “interest and debt expense” on our consolidated statements of income. </context> | us-gaap:SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares |
Redeemable noncontrolling partnership units exclude our Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units, as they are accounted for as liabilities in accordance with ASC Topic 480, Distinguishing Liabilities and Equity. Accordingly, the fair value of these units is included as a component of "other liabilities" on our consolidated balance sheets and aggregated $ 49,386,000 and $ 49,383,000 as of December 31, 2023 and 2022, respectively. Changes in the value from period-to-period, if any, are charged to “interest and debt expense” on our consolidated statements of income. | text | 49383000 | monetaryItemType | text: <entity> 49383000 </entity> <entity type> monetaryItemType </entity type> <context> Redeemable noncontrolling partnership units exclude our Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units, as they are accounted for as liabilities in accordance with ASC Topic 480, Distinguishing Liabilities and Equity. Accordingly, the fair value of these units is included as a component of "other liabilities" on our consolidated balance sheets and aggregated $ 49,386,000 and $ 49,383,000 as of December 31, 2023 and 2022, respectively. Changes in the value from period-to-period, if any, are charged to “interest and debt expense” on our consolidated statements of income. </context> | us-gaap:SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares |
A consolidated joint venture in which we own a 95 % interest, developed and owns the Farley Building (the "Farley Project"). During 2020, a historic tax credit investor (the "Tax Credit Investor") funded $ 92,400,000 of capital contributions to the Farley Project and on December 22, 2023, the Tax Credit Investor funded an additional $ 112,668,000 of capital contributions. | text | 95 | percentItemType | text: <entity> 95 </entity> <entity type> percentItemType </entity type> <context> A consolidated joint venture in which we own a 95 % interest, developed and owns the Farley Building (the "Farley Project"). During 2020, a historic tax credit investor (the "Tax Credit Investor") funded $ 92,400,000 of capital contributions to the Farley Project and on December 22, 2023, the Tax Credit Investor funded an additional $ 112,668,000 of capital contributions. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
A consolidated joint venture in which we own a 95 % interest, developed and owns the Farley Building (the "Farley Project"). During 2020, a historic tax credit investor (the "Tax Credit Investor") funded $ 92,400,000 of capital contributions to the Farley Project and on December 22, 2023, the Tax Credit Investor funded an additional $ 112,668,000 of capital contributions. | text | 92400000 | monetaryItemType | text: <entity> 92400000 </entity> <entity type> monetaryItemType </entity type> <context> A consolidated joint venture in which we own a 95 % interest, developed and owns the Farley Building (the "Farley Project"). During 2020, a historic tax credit investor (the "Tax Credit Investor") funded $ 92,400,000 of capital contributions to the Farley Project and on December 22, 2023, the Tax Credit Investor funded an additional $ 112,668,000 of capital contributions. </context> | us-gaap:OtherOwnershipInterestsValue |
A consolidated joint venture in which we own a 95 % interest, developed and owns the Farley Building (the "Farley Project"). During 2020, a historic tax credit investor (the "Tax Credit Investor") funded $ 92,400,000 of capital contributions to the Farley Project and on December 22, 2023, the Tax Credit Investor funded an additional $ 112,668,000 of capital contributions. | text | 112668000 | monetaryItemType | text: <entity> 112668000 </entity> <entity type> monetaryItemType </entity type> <context> A consolidated joint venture in which we own a 95 % interest, developed and owns the Farley Building (the "Farley Project"). During 2020, a historic tax credit investor (the "Tax Credit Investor") funded $ 92,400,000 of capital contributions to the Farley Project and on December 22, 2023, the Tax Credit Investor funded an additional $ 112,668,000 of capital contributions. </context> | us-gaap:OtherOwnershipInterestsValue |
As of December 31, 2023, there were 190,390,703 common shares outstanding. During 2023, we paid an aggregate of $ 129,066,000 of common dividends at an annual rate of $ 0.675 per share. | text | 190390703 | sharesItemType | text: <entity> 190390703 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2023, there were 190,390,703 common shares outstanding. During 2023, we paid an aggregate of $ 129,066,000 of common dividends at an annual rate of $ 0.675 per share. </context> | us-gaap:CommonStockSharesOutstanding |
As of December 31, 2023, there were 190,390,703 common shares outstanding. During 2023, we paid an aggregate of $ 129,066,000 of common dividends at an annual rate of $ 0.675 per share. | text | 129066000 | monetaryItemType | text: <entity> 129066000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, there were 190,390,703 common shares outstanding. During 2023, we paid an aggregate of $ 129,066,000 of common dividends at an annual rate of $ 0.675 per share. </context> | us-gaap:DividendsCommonStock |
As of December 31, 2023, there were 190,390,703 common shares outstanding. During 2023, we paid an aggregate of $ 129,066,000 of common dividends at an annual rate of $ 0.675 per share. | text | 0.675 | perShareItemType | text: <entity> 0.675 </entity> <entity type> perShareItemType </entity type> <context> As of December 31, 2023, there were 190,390,703 common shares outstanding. During 2023, we paid an aggregate of $ 129,066,000 of common dividends at an annual rate of $ 0.675 per share. </context> | us-gaap:DividendsPayableAmountPerShare |
As of December 31, 2023, there were 190,390,703 Class A units outstanding that were held by Vornado. These units are classified as “partners’ capital” on the consolidated balance sheets of the Operating Partnership. As of December 31, 2023, there were 17,000,030 Class A units outstanding, that were held by third parties. These units are classified outside of “partners’ capital” as “redeemable partnership units” on the consolidated balance sheets of the Operating Partnership (see Note 10 – | text | 190390703 | sharesItemType | text: <entity> 190390703 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2023, there were 190,390,703 Class A units outstanding that were held by Vornado. These units are classified as “partners’ capital” on the consolidated balance sheets of the Operating Partnership. As of December 31, 2023, there were 17,000,030 Class A units outstanding, that were held by third parties. These units are classified outside of “partners’ capital” as “redeemable partnership units” on the consolidated balance sheets of the Operating Partnership (see Note 10 – </context> | us-gaap:CommonStockSharesOutstanding |
As of December 31, 2023, there were 190,390,703 Class A units outstanding that were held by Vornado. These units are classified as “partners’ capital” on the consolidated balance sheets of the Operating Partnership. As of December 31, 2023, there were 17,000,030 Class A units outstanding, that were held by third parties. These units are classified outside of “partners’ capital” as “redeemable partnership units” on the consolidated balance sheets of the Operating Partnership (see Note 10 – | text | 17000030 | sharesItemType | text: <entity> 17000030 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2023, there were 190,390,703 Class A units outstanding that were held by Vornado. These units are classified as “partners’ capital” on the consolidated balance sheets of the Operating Partnership. As of December 31, 2023, there were 17,000,030 Class A units outstanding, that were held by third parties. These units are classified outside of “partners’ capital” as “redeemable partnership units” on the consolidated balance sheets of the Operating Partnership (see Note 10 – </context> | us-gaap:TemporaryEquitySharesOutstanding |
). During 2023, the Operating Partnership paid an aggregate of $ 129,066,000 of distributions to Vornado at an annual rate of $ 0.675 per unit. | text | 129066000 | monetaryItemType | text: <entity> 129066000 </entity> <entity type> monetaryItemType </entity type> <context> ). During 2023, the Operating Partnership paid an aggregate of $ 129,066,000 of distributions to Vornado at an annual rate of $ 0.675 per unit. </context> | us-gaap:DividendsCommonStock |
). During 2023, the Operating Partnership paid an aggregate of $ 129,066,000 of distributions to Vornado at an annual rate of $ 0.675 per unit. | text | 0.675 | perShareItemType | text: <entity> 0.675 </entity> <entity type> perShareItemType </entity type> <context> ). During 2023, the Operating Partnership paid an aggregate of $ 129,066,000 of distributions to Vornado at an annual rate of $ 0.675 per unit. </context> | us-gaap:DividendsPayableAmountPerShare |
On April 26, 2023, our Board of Trustees authorized a share repurchase plan under which Vornado is authorized to repurchase up to $ 200,000,000 of its outstanding common shares. To the extent Vornado repurchases any of its common shares, in order to fund the common share repurchase and maintain the one -to-one ratio of the number of Vornado common shares outstanding and the number of Class A units owned by Vornado, the Operating Partnership will repurchase from Vornado an equal number of its Class A units at the same price. | text | 200000000 | monetaryItemType | text: <entity> 200000000 </entity> <entity type> monetaryItemType </entity type> <context> On April 26, 2023, our Board of Trustees authorized a share repurchase plan under which Vornado is authorized to repurchase up to $ 200,000,000 of its outstanding common shares. To the extent Vornado repurchases any of its common shares, in order to fund the common share repurchase and maintain the one -to-one ratio of the number of Vornado common shares outstanding and the number of Class A units owned by Vornado, the Operating Partnership will repurchase from Vornado an equal number of its Class A units at the same price. </context> | us-gaap:StockRepurchaseProgramAuthorizedAmount1 |
During the year ended December 31, 2023, we repurchased 2,024,495 common shares for $ 29,143,000 at an average price per share of $ 14.40 . As of December 31, 2023, $ 170,857,000 remained available and authorized for repurchases. | text | 2024495 | sharesItemType | text: <entity> 2024495 </entity> <entity type> sharesItemType </entity type> <context> During the year ended December 31, 2023, we repurchased 2,024,495 common shares for $ 29,143,000 at an average price per share of $ 14.40 . As of December 31, 2023, $ 170,857,000 remained available and authorized for repurchases. </context> | us-gaap:StockRepurchasedDuringPeriodShares |
During the year ended December 31, 2023, we repurchased 2,024,495 common shares for $ 29,143,000 at an average price per share of $ 14.40 . As of December 31, 2023, $ 170,857,000 remained available and authorized for repurchases. | text | 29143000 | monetaryItemType | text: <entity> 29143000 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we repurchased 2,024,495 common shares for $ 29,143,000 at an average price per share of $ 14.40 . As of December 31, 2023, $ 170,857,000 remained available and authorized for repurchases. </context> | us-gaap:StockRepurchasedDuringPeriodValue |
During the year ended December 31, 2023, we repurchased 2,024,495 common shares for $ 29,143,000 at an average price per share of $ 14.40 . As of December 31, 2023, $ 170,857,000 remained available and authorized for repurchases. | text | 14.40 | perShareItemType | text: <entity> 14.40 </entity> <entity type> perShareItemType </entity type> <context> During the year ended December 31, 2023, we repurchased 2,024,495 common shares for $ 29,143,000 at an average price per share of $ 14.40 . As of December 31, 2023, $ 170,857,000 remained available and authorized for repurchases. </context> | us-gaap:TreasuryStockAcquiredAverageCostPerShare |
During the year ended December 31, 2023, we repurchased 2,024,495 common shares for $ 29,143,000 at an average price per share of $ 14.40 . As of December 31, 2023, $ 170,857,000 remained available and authorized for repurchases. | text | 170857000 | monetaryItemType | text: <entity> 170857000 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2023, we repurchased 2,024,495 common shares for $ 29,143,000 at an average price per share of $ 14.40 . As of December 31, 2023, $ 170,857,000 remained available and authorized for repurchases. </context> | us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1 |
The following table sets forth the details of our preferred shares of beneficial interest and the preferred units of the Operating Partnership outstanding as of December 31, 2023 and 2022. During 2023, we paid $ 62,116,000 in preferred dividends. | text | 62116000 | monetaryItemType | text: <entity> 62116000 </entity> <entity type> monetaryItemType </entity type> <context> The following table sets forth the details of our preferred shares of beneficial interest and the preferred units of the Operating Partnership outstanding as of December 31, 2023 and 2022. During 2023, we paid $ 62,116,000 in preferred dividends. </context> | us-gaap:DividendsPreferredStock |
On May 18, 2023, our shareholders approved the 2023 Omnibus Share Plan (the “Plan”), which replaced the 2019 Omnibus Share Plan. Under the Plan, awards may be granted up to a maximum 10,800,000 shares, if all awards granted are Full Value awards, as defined in the Plan, and up to 21,600,000 shares, if all of the awards granted are Not Full Value Awards, as defined in the Plan. Full Value Awards are securities that have a value equivalent to the underlying Vornado common share or Class A unit of the Operating Partnership, such as restricted Vornado common shares or LTIP Units. Vornado stock options, AO LTIP Units and Performance AO LTIP Units are Not Full Value Awards; these securities require the payment of an exercise price. As of December 31, 2023, Vornado has approximately 1,217,000 shares available for future grants under the Plan, if all awards granted are Full Value Awards, as defined. | text | 10800000 | sharesItemType | text: <entity> 10800000 </entity> <entity type> sharesItemType </entity type> <context> On May 18, 2023, our shareholders approved the 2023 Omnibus Share Plan (the “Plan”), which replaced the 2019 Omnibus Share Plan. Under the Plan, awards may be granted up to a maximum 10,800,000 shares, if all awards granted are Full Value awards, as defined in the Plan, and up to 21,600,000 shares, if all of the awards granted are Not Full Value Awards, as defined in the Plan. Full Value Awards are securities that have a value equivalent to the underlying Vornado common share or Class A unit of the Operating Partnership, such as restricted Vornado common shares or LTIP Units. Vornado stock options, AO LTIP Units and Performance AO LTIP Units are Not Full Value Awards; these securities require the payment of an exercise price. As of December 31, 2023, Vornado has approximately 1,217,000 shares available for future grants under the Plan, if all awards granted are Full Value Awards, as defined. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
On May 18, 2023, our shareholders approved the 2023 Omnibus Share Plan (the “Plan”), which replaced the 2019 Omnibus Share Plan. Under the Plan, awards may be granted up to a maximum 10,800,000 shares, if all awards granted are Full Value awards, as defined in the Plan, and up to 21,600,000 shares, if all of the awards granted are Not Full Value Awards, as defined in the Plan. Full Value Awards are securities that have a value equivalent to the underlying Vornado common share or Class A unit of the Operating Partnership, such as restricted Vornado common shares or LTIP Units. Vornado stock options, AO LTIP Units and Performance AO LTIP Units are Not Full Value Awards; these securities require the payment of an exercise price. As of December 31, 2023, Vornado has approximately 1,217,000 shares available for future grants under the Plan, if all awards granted are Full Value Awards, as defined. | text | 21600000 | sharesItemType | text: <entity> 21600000 </entity> <entity type> sharesItemType </entity type> <context> On May 18, 2023, our shareholders approved the 2023 Omnibus Share Plan (the “Plan”), which replaced the 2019 Omnibus Share Plan. Under the Plan, awards may be granted up to a maximum 10,800,000 shares, if all awards granted are Full Value awards, as defined in the Plan, and up to 21,600,000 shares, if all of the awards granted are Not Full Value Awards, as defined in the Plan. Full Value Awards are securities that have a value equivalent to the underlying Vornado common share or Class A unit of the Operating Partnership, such as restricted Vornado common shares or LTIP Units. Vornado stock options, AO LTIP Units and Performance AO LTIP Units are Not Full Value Awards; these securities require the payment of an exercise price. As of December 31, 2023, Vornado has approximately 1,217,000 shares available for future grants under the Plan, if all awards granted are Full Value Awards, as defined. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
On May 18, 2023, our shareholders approved the 2023 Omnibus Share Plan (the “Plan”), which replaced the 2019 Omnibus Share Plan. Under the Plan, awards may be granted up to a maximum 10,800,000 shares, if all awards granted are Full Value awards, as defined in the Plan, and up to 21,600,000 shares, if all of the awards granted are Not Full Value Awards, as defined in the Plan. Full Value Awards are securities that have a value equivalent to the underlying Vornado common share or Class A unit of the Operating Partnership, such as restricted Vornado common shares or LTIP Units. Vornado stock options, AO LTIP Units and Performance AO LTIP Units are Not Full Value Awards; these securities require the payment of an exercise price. As of December 31, 2023, Vornado has approximately 1,217,000 shares available for future grants under the Plan, if all awards granted are Full Value Awards, as defined. | text | 1217000 | sharesItemType | text: <entity> 1217000 </entity> <entity type> sharesItemType </entity type> <context> On May 18, 2023, our shareholders approved the 2023 Omnibus Share Plan (the “Plan”), which replaced the 2019 Omnibus Share Plan. Under the Plan, awards may be granted up to a maximum 10,800,000 shares, if all awards granted are Full Value awards, as defined in the Plan, and up to 21,600,000 shares, if all of the awards granted are Not Full Value Awards, as defined in the Plan. Full Value Awards are securities that have a value equivalent to the underlying Vornado common share or Class A unit of the Operating Partnership, such as restricted Vornado common shares or LTIP Units. Vornado stock options, AO LTIP Units and Performance AO LTIP Units are Not Full Value Awards; these securities require the payment of an exercise price. As of December 31, 2023, Vornado has approximately 1,217,000 shares available for future grants under the Plan, if all awards granted are Full Value Awards, as defined. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
LTPP Units granted during the years ended December 31, 2023 and 2022 had grant date fair values of $ 9,491,000 and $ 7,847,000 , respectively. During the years ended December 31, 2023 and 2022, $ 4,670,000 and $ 4,033,000 , respectively, was immediately expensed on the respective grant date due to acceleration of vesting for employees who are retirement eligible (have reached age 65 or age 60 with at least 20 years of service). | text | 4670000 | monetaryItemType | text: <entity> 4670000 </entity> <entity type> monetaryItemType </entity type> <context> LTPP Units granted during the years ended December 31, 2023 and 2022 had grant date fair values of $ 9,491,000 and $ 7,847,000 , respectively. During the years ended December 31, 2023 and 2022, $ 4,670,000 and $ 4,033,000 , respectively, was immediately expensed on the respective grant date due to acceleration of vesting for employees who are retirement eligible (have reached age 65 or age 60 with at least 20 years of service). </context> | us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax |
LTPP Units granted during the years ended December 31, 2023 and 2022 had grant date fair values of $ 9,491,000 and $ 7,847,000 , respectively. During the years ended December 31, 2023 and 2022, $ 4,670,000 and $ 4,033,000 , respectively, was immediately expensed on the respective grant date due to acceleration of vesting for employees who are retirement eligible (have reached age 65 or age 60 with at least 20 years of service). | text | 4033000 | monetaryItemType | text: <entity> 4033000 </entity> <entity type> monetaryItemType </entity type> <context> LTPP Units granted during the years ended December 31, 2023 and 2022 had grant date fair values of $ 9,491,000 and $ 7,847,000 , respectively. During the years ended December 31, 2023 and 2022, $ 4,670,000 and $ 4,033,000 , respectively, was immediately expensed on the respective grant date due to acceleration of vesting for employees who are retirement eligible (have reached age 65 or age 60 with at least 20 years of service). </context> | us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax |
OPP units granted during the year ended December 31, 2021 had a total notional value of $ 30,000,000 and a fair value of $ 9,950,000 , of which $ 6,140,000 was immediately expensed on the grant date due to acceleration of vesting for employees who are retirement eligible (have reached age 65 or age 60 with at least 20 years of service). | text | 6140000 | monetaryItemType | text: <entity> 6140000 </entity> <entity type> monetaryItemType </entity type> <context> OPP units granted during the year ended December 31, 2021 had a total notional value of $ 30,000,000 and a fair value of $ 9,950,000 , of which $ 6,140,000 was immediately expensed on the grant date due to acceleration of vesting for employees who are retirement eligible (have reached age 65 or age 60 with at least 20 years of service). </context> | us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax |
There were no Vornado stock options exercised during the year ended December 31, 2023. Cash received from Vornado stock option exercises for the years ended December 31, 2022 and 2021 was $ 7,000 and $ 22,000 , respectively. The total intrinsic value of Vornado stock options exercised during the years ended December 31, 2022 and 2021 was $ 842 and $ 5,500 , respectively. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable Vornado stock options was $ 0 . | text | 7000 | monetaryItemType | text: <entity> 7000 </entity> <entity type> monetaryItemType </entity type> <context> There were no Vornado stock options exercised during the year ended December 31, 2023. Cash received from Vornado stock option exercises for the years ended December 31, 2022 and 2021 was $ 7,000 and $ 22,000 , respectively. The total intrinsic value of Vornado stock options exercised during the years ended December 31, 2022 and 2021 was $ 842 and $ 5,500 , respectively. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable Vornado stock options was $ 0 . </context> | us-gaap:ProceedsFromStockOptionsExercised |
There were no Vornado stock options exercised during the year ended December 31, 2023. Cash received from Vornado stock option exercises for the years ended December 31, 2022 and 2021 was $ 7,000 and $ 22,000 , respectively. The total intrinsic value of Vornado stock options exercised during the years ended December 31, 2022 and 2021 was $ 842 and $ 5,500 , respectively. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable Vornado stock options was $ 0 . | text | 22000 | monetaryItemType | text: <entity> 22000 </entity> <entity type> monetaryItemType </entity type> <context> There were no Vornado stock options exercised during the year ended December 31, 2023. Cash received from Vornado stock option exercises for the years ended December 31, 2022 and 2021 was $ 7,000 and $ 22,000 , respectively. The total intrinsic value of Vornado stock options exercised during the years ended December 31, 2022 and 2021 was $ 842 and $ 5,500 , respectively. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable Vornado stock options was $ 0 . </context> | us-gaap:ProceedsFromStockOptionsExercised |
There were no Vornado stock options exercised during the year ended December 31, 2023. Cash received from Vornado stock option exercises for the years ended December 31, 2022 and 2021 was $ 7,000 and $ 22,000 , respectively. The total intrinsic value of Vornado stock options exercised during the years ended December 31, 2022 and 2021 was $ 842 and $ 5,500 , respectively. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable Vornado stock options was $ 0 . | text | 842 | monetaryItemType | text: <entity> 842 </entity> <entity type> monetaryItemType </entity type> <context> There were no Vornado stock options exercised during the year ended December 31, 2023. Cash received from Vornado stock option exercises for the years ended December 31, 2022 and 2021 was $ 7,000 and $ 22,000 , respectively. The total intrinsic value of Vornado stock options exercised during the years ended December 31, 2022 and 2021 was $ 842 and $ 5,500 , respectively. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable Vornado stock options was $ 0 . </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
There were no Vornado stock options exercised during the year ended December 31, 2023. Cash received from Vornado stock option exercises for the years ended December 31, 2022 and 2021 was $ 7,000 and $ 22,000 , respectively. The total intrinsic value of Vornado stock options exercised during the years ended December 31, 2022 and 2021 was $ 842 and $ 5,500 , respectively. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable Vornado stock options was $ 0 . | text | 5500 | monetaryItemType | text: <entity> 5500 </entity> <entity type> monetaryItemType </entity type> <context> There were no Vornado stock options exercised during the year ended December 31, 2023. Cash received from Vornado stock option exercises for the years ended December 31, 2022 and 2021 was $ 7,000 and $ 22,000 , respectively. The total intrinsic value of Vornado stock options exercised during the years ended December 31, 2022 and 2021 was $ 842 and $ 5,500 , respectively. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable Vornado stock options was $ 0 . </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
On June 29, 2023, the Committee granted 14,368,750 Performance AO LTIP Units to a broad group of employees of the Company including its named executive officers (as identified in the Company’s proxy statement for its 2023 Annual Meeting of Shareholders). Each Performance AO LTIP Unit is potentially convertible into a number of Class A Units, determined by reference to the excess of the closing market price of Vornado common shares on the NYSE on the date of conversion over $ 16.87 . The Performance AO LTIP Units can be converted until the 10th anniversary of the grant date, subject to satisfaction of the vesting and performance conditions described below. | text | 14368750 | sharesItemType | text: <entity> 14368750 </entity> <entity type> sharesItemType </entity type> <context> On June 29, 2023, the Committee granted 14,368,750 Performance AO LTIP Units to a broad group of employees of the Company including its named executive officers (as identified in the Company’s proxy statement for its 2023 Annual Meeting of Shareholders). Each Performance AO LTIP Unit is potentially convertible into a number of Class A Units, determined by reference to the excess of the closing market price of Vornado common shares on the NYSE on the date of conversion over $ 16.87 . The Performance AO LTIP Units can be converted until the 10th anniversary of the grant date, subject to satisfaction of the vesting and performance conditions described below. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod |
On June 29, 2023, the Committee granted 14,368,750 Performance AO LTIP Units to a broad group of employees of the Company including its named executive officers (as identified in the Company’s proxy statement for its 2023 Annual Meeting of Shareholders). Each Performance AO LTIP Unit is potentially convertible into a number of Class A Units, determined by reference to the excess of the closing market price of Vornado common shares on the NYSE on the date of conversion over $ 16.87 . The Performance AO LTIP Units can be converted until the 10th anniversary of the grant date, subject to satisfaction of the vesting and performance conditions described below. | text | 16.87 | perShareItemType | text: <entity> 16.87 </entity> <entity type> perShareItemType </entity type> <context> On June 29, 2023, the Committee granted 14,368,750 Performance AO LTIP Units to a broad group of employees of the Company including its named executive officers (as identified in the Company’s proxy statement for its 2023 Annual Meeting of Shareholders). Each Performance AO LTIP Unit is potentially convertible into a number of Class A Units, determined by reference to the excess of the closing market price of Vornado common shares on the NYSE on the date of conversion over $ 16.87 . The Performance AO LTIP Units can be converted until the 10th anniversary of the grant date, subject to satisfaction of the vesting and performance conditions described below. </context> | us-gaap:SharePrice |
The Performance AO LTIP Units will vest with respect to 20 % on the 3rd anniversary of the Grant Date, and the remaining 80 % will vest on the 4th anniversary of the Grant Date, subject to the recipient’s continued employment with the Company, and subject to the following performance conditions: | text | 20 | percentItemType | text: <entity> 20 </entity> <entity type> percentItemType </entity type> <context> The Performance AO LTIP Units will vest with respect to 20 % on the 3rd anniversary of the Grant Date, and the remaining 80 % will vest on the 4th anniversary of the Grant Date, subject to the recipient’s continued employment with the Company, and subject to the following performance conditions: </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage |
The Performance AO LTIP Units will vest with respect to 20 % on the 3rd anniversary of the Grant Date, and the remaining 80 % will vest on the 4th anniversary of the Grant Date, subject to the recipient’s continued employment with the Company, and subject to the following performance conditions: | text | 80 | percentItemType | text: <entity> 80 </entity> <entity type> percentItemType </entity type> <context> The Performance AO LTIP Units will vest with respect to 20 % on the 3rd anniversary of the Grant Date, and the remaining 80 % will vest on the 4th anniversary of the Grant Date, subject to the recipient’s continued employment with the Company, and subject to the following performance conditions: </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage |
No Performance AO LTIP Units are earned if the Applicable Price (defined below) is less than $ 21.0875 per share. | text | 21.0875 | perShareItemType | text: <entity> 21.0875 </entity> <entity type> perShareItemType </entity type> <context> No Performance AO LTIP Units are earned if the Applicable Price (defined below) is less than $ 21.0875 per share. </context> | us-gaap:SharePrice |
At an Applicable Price of $ 21.0875 per share (a 25 % increase above the Grant Date share price), 33 % of the Performance AO LTIP Units are earned. | text | 21.0875 | perShareItemType | text: <entity> 21.0875 </entity> <entity type> perShareItemType </entity type> <context> At an Applicable Price of $ 21.0875 per share (a 25 % increase above the Grant Date share price), 33 % of the Performance AO LTIP Units are earned. </context> | us-gaap:SharePrice |
At an Applicable Price of $ 21.0875 per share (a 25 % increase above the Grant Date share price), 33 % of the Performance AO LTIP Units are earned. | text | 33 | percentItemType | text: <entity> 33 </entity> <entity type> percentItemType </entity type> <context> At an Applicable Price of $ 21.0875 per share (a 25 % increase above the Grant Date share price), 33 % of the Performance AO LTIP Units are earned. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage |
At an Applicable Price of $ 25.3050 per share (a 50 % increase above the Grant Date share price), 67 % of the Performance AO LTIP Units are earned. | text | 25.3050 | perShareItemType | text: <entity> 25.3050 </entity> <entity type> perShareItemType </entity type> <context> At an Applicable Price of $ 25.3050 per share (a 50 % increase above the Grant Date share price), 67 % of the Performance AO LTIP Units are earned. </context> | us-gaap:SharePrice |
At an Applicable Price of $ 25.3050 per share (a 50 % increase above the Grant Date share price), 67 % of the Performance AO LTIP Units are earned. | text | 67 | percentItemType | text: <entity> 67 </entity> <entity type> percentItemType </entity type> <context> At an Applicable Price of $ 25.3050 per share (a 50 % increase above the Grant Date share price), 67 % of the Performance AO LTIP Units are earned. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage |
At an Applicable Price of $ 29.5225 per share (a 75 % increase above the Grant Date share price), 100 % of the Performance AO LTIP Units are earned. | text | 29.5225 | perShareItemType | text: <entity> 29.5225 </entity> <entity type> perShareItemType </entity type> <context> At an Applicable Price of $ 29.5225 per share (a 75 % increase above the Grant Date share price), 100 % of the Performance AO LTIP Units are earned. </context> | us-gaap:SharePrice |
At an Applicable Price of $ 29.5225 per share (a 75 % increase above the Grant Date share price), 100 % of the Performance AO LTIP Units are earned. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> At an Applicable Price of $ 29.5225 per share (a 75 % increase above the Grant Date share price), 100 % of the Performance AO LTIP Units are earned. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage |
Linear interpolation applies for Applicable Prices between $ 21.0875 and $ 29.5225 . “Applicable Price” means the highest average consecutive 20 -trading day closing share price for Vornado’s common shares during the 10 years following the Grant Date. | text | 21.0875 | perShareItemType | text: <entity> 21.0875 </entity> <entity type> perShareItemType </entity type> <context> Linear interpolation applies for Applicable Prices between $ 21.0875 and $ 29.5225 . “Applicable Price” means the highest average consecutive 20 -trading day closing share price for Vornado’s common shares during the 10 years following the Grant Date. </context> | us-gaap:SharePrice |
Linear interpolation applies for Applicable Prices between $ 21.0875 and $ 29.5225 . “Applicable Price” means the highest average consecutive 20 -trading day closing share price for Vornado’s common shares during the 10 years following the Grant Date. | text | 29.5225 | perShareItemType | text: <entity> 29.5225 </entity> <entity type> perShareItemType </entity type> <context> Linear interpolation applies for Applicable Prices between $ 21.0875 and $ 29.5225 . “Applicable Price” means the highest average consecutive 20 -trading day closing share price for Vornado’s common shares during the 10 years following the Grant Date. </context> | us-gaap:SharePrice |
As of December 31, 2023, the aggregate intrinsic value of outstanding Performance AO LTIP Units was $ 153,748,000 . | text | 153748000 | monetaryItemType | text: <entity> 153748000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, the aggregate intrinsic value of outstanding Performance AO LTIP Units was $ 153,748,000 . </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue |
There were no AO LTIP Units granted during the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable AO LTIP Units was $ 0 . | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> There were no AO LTIP Units granted during the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable AO LTIP Units was $ 0 . </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 |
LTIP Units are granted at the average of the high and low market price of Vornado’s common shares on the NYSE on the date of grant, generally vest over a period of three to four years , and are subject to a taxable book-up event, as defined. Compensation expense related to LTIP Units is recognized ratably over the vesting period using a graded vesting attribution model. Distributions paid on unvested LTIP Units amounted to $ 1,302,000 , $ 2,197,000 and $ 2,634,000 in the years ended December 31, 2023, 2022 and 2021, respectively. | text | 1302000 | monetaryItemType | text: <entity> 1302000 </entity> <entity type> monetaryItemType </entity type> <context> LTIP Units are granted at the average of the high and low market price of Vornado’s common shares on the NYSE on the date of grant, generally vest over a period of three to four years , and are subject to a taxable book-up event, as defined. Compensation expense related to LTIP Units is recognized ratably over the vesting period using a graded vesting attribution model. Distributions paid on unvested LTIP Units amounted to $ 1,302,000 , $ 2,197,000 and $ 2,634,000 in the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:DividendsShareBasedCompensation |
LTIP Units are granted at the average of the high and low market price of Vornado’s common shares on the NYSE on the date of grant, generally vest over a period of three to four years , and are subject to a taxable book-up event, as defined. Compensation expense related to LTIP Units is recognized ratably over the vesting period using a graded vesting attribution model. Distributions paid on unvested LTIP Units amounted to $ 1,302,000 , $ 2,197,000 and $ 2,634,000 in the years ended December 31, 2023, 2022 and 2021, respectively. | text | 2197000 | monetaryItemType | text: <entity> 2197000 </entity> <entity type> monetaryItemType </entity type> <context> LTIP Units are granted at the average of the high and low market price of Vornado’s common shares on the NYSE on the date of grant, generally vest over a period of three to four years , and are subject to a taxable book-up event, as defined. Compensation expense related to LTIP Units is recognized ratably over the vesting period using a graded vesting attribution model. Distributions paid on unvested LTIP Units amounted to $ 1,302,000 , $ 2,197,000 and $ 2,634,000 in the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:DividendsShareBasedCompensation |
LTIP Units are granted at the average of the high and low market price of Vornado’s common shares on the NYSE on the date of grant, generally vest over a period of three to four years , and are subject to a taxable book-up event, as defined. Compensation expense related to LTIP Units is recognized ratably over the vesting period using a graded vesting attribution model. Distributions paid on unvested LTIP Units amounted to $ 1,302,000 , $ 2,197,000 and $ 2,634,000 in the years ended December 31, 2023, 2022 and 2021, respectively. | text | 2634000 | monetaryItemType | text: <entity> 2634000 </entity> <entity type> monetaryItemType </entity type> <context> LTIP Units are granted at the average of the high and low market price of Vornado’s common shares on the NYSE on the date of grant, generally vest over a period of three to four years , and are subject to a taxable book-up event, as defined. Compensation expense related to LTIP Units is recognized ratably over the vesting period using a graded vesting attribution model. Distributions paid on unvested LTIP Units amounted to $ 1,302,000 , $ 2,197,000 and $ 2,634,000 in the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:DividendsShareBasedCompensation |
On June 29, 2023, the Committee granted 2,394,801 LTIP Units to a broad group of employees of the Company including its named executive officers (as identified in the Company’s proxy statement for its 2023 Annual Meeting of Shareholders). The LTIP Units vest in two equal installments on the 3rd and 4th anniversaries of the grant date, respectively, subject to the recipient’s continued employment with the Company as of such dates, with each vesting tranche subject to an additional one-year post-vesting transfer restriction. The fair value of each LTIP Unit was based on the market value of Vornado’s common shares on the grant date less a discount for post-vesting transfer restrictions. | text | 2394801 | sharesItemType | text: <entity> 2394801 </entity> <entity type> sharesItemType </entity type> <context> On June 29, 2023, the Committee granted 2,394,801 LTIP Units to a broad group of employees of the Company including its named executive officers (as identified in the Company’s proxy statement for its 2023 Annual Meeting of Shareholders). The LTIP Units vest in two equal installments on the 3rd and 4th anniversaries of the grant date, respectively, subject to the recipient’s continued employment with the Company as of such dates, with each vesting tranche subject to an additional one-year post-vesting transfer restriction. The fair value of each LTIP Unit was based on the market value of Vornado’s common shares on the grant date less a discount for post-vesting transfer restrictions. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod |
LTIP Units granted in 2023, 2022 and 2021 had a fair value of $ 45,468,000 , $ 15,446,000 and $ 26,194,000 , respectively. The fair value of LTIP Units that vested during the years ended December 31, 2023, 2022 and 2021 was $ 37,198,000 , $ 25,158,000 and $ 36,541,000 , respectively. | text | 37198000 | monetaryItemType | text: <entity> 37198000 </entity> <entity type> monetaryItemType </entity type> <context> LTIP Units granted in 2023, 2022 and 2021 had a fair value of $ 45,468,000 , $ 15,446,000 and $ 26,194,000 , respectively. The fair value of LTIP Units that vested during the years ended December 31, 2023, 2022 and 2021 was $ 37,198,000 , $ 25,158,000 and $ 36,541,000 , respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
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