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Our Second Amended and Restated Certificate of Incorporation authorizes the issuance of up to 5.0 billion shares of common stock. | text | 5.0 | sharesItemType | text: <entity> 5.0 </entity> <entity type> sharesItemType </entity type> <context> Our Second Amended and Restated Certificate of Incorporation authorizes the issuance of up to 5.0 billion shares of common stock. </context> | us-gaap:CommonStockSharesAuthorized |
We use the treasury stock method to calculate the dilutive effect of outstanding equity awards in the denominator for diluted EPS. Anti-dilutive shares were 6 million in 2024, 7 million in 2023, and 6 million in 2022. | text | 6 | sharesItemType | text: <entity> 6 </entity> <entity type> sharesItemType </entity type> <context> We use the treasury stock method to calculate the dilutive effect of outstanding equity awards in the denominator for diluted EPS. Anti-dilutive shares were 6 million in 2024, 7 million in 2023, and 6 million in 2022. </context> | us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
We use the treasury stock method to calculate the dilutive effect of outstanding equity awards in the denominator for diluted EPS. Anti-dilutive shares were 6 million in 2024, 7 million in 2023, and 6 million in 2022. | text | 7 | sharesItemType | text: <entity> 7 </entity> <entity type> sharesItemType </entity type> <context> We use the treasury stock method to calculate the dilutive effect of outstanding equity awards in the denominator for diluted EPS. Anti-dilutive shares were 6 million in 2024, 7 million in 2023, and 6 million in 2022. </context> | us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
In the first quarter of 2024, our internal reporting and reportable segments changed. We divided our International segment into three operating segments — EPDM, WEEM, and AEM — to enable enhanced focus on the different strategies required for each of these regions as part of our long-term strategic plan. Subsequently, we manage our operating results through four operating segments. We have two reportable segments defined by geographic region: North America and International Developed Markets. Our remaining operating segments, consisting of WEEM and AEM, are combined and disclosed as Emerging Markets. We have reflected this segment change in all historical periods presented. | text | four | integerItemType | text: <entity> four </entity> <entity type> integerItemType </entity type> <context> In the first quarter of 2024, our internal reporting and reportable segments changed. We divided our International segment into three operating segments — EPDM, WEEM, and AEM — to enable enhanced focus on the different strategies required for each of these regions as part of our long-term strategic plan. Subsequently, we manage our operating results through four operating segments. We have two reportable segments defined by geographic region: North America and International Developed Markets. Our remaining operating segments, consisting of WEEM and AEM, are combined and disclosed as Emerging Markets. We have reflected this segment change in all historical periods presented. </context> | us-gaap:NumberOfOperatingSegments |
In the first quarter of 2024, our internal reporting and reportable segments changed. We divided our International segment into three operating segments — EPDM, WEEM, and AEM — to enable enhanced focus on the different strategies required for each of these regions as part of our long-term strategic plan. Subsequently, we manage our operating results through four operating segments. We have two reportable segments defined by geographic region: North America and International Developed Markets. Our remaining operating segments, consisting of WEEM and AEM, are combined and disclosed as Emerging Markets. We have reflected this segment change in all historical periods presented. | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> In the first quarter of 2024, our internal reporting and reportable segments changed. We divided our International segment into three operating segments — EPDM, WEEM, and AEM — to enable enhanced focus on the different strategies required for each of these regions as part of our long-term strategic plan. Subsequently, we manage our operating results through four operating segments. We have two reportable segments defined by geographic region: North America and International Developed Markets. Our remaining operating segments, consisting of WEEM and AEM, are combined and disclosed as Emerging Markets. We have reflected this segment change in all historical periods presented. </context> | us-gaap:NumberOfReportableSegments |
Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. | text | 85 | monetaryItemType | text: <entity> 85 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. </context> | us-gaap:OtherNonoperatingIncomeExpense |
Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. | text | 27 | monetaryItemType | text: <entity> 27 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. </context> | us-gaap:OtherNonoperatingIncomeExpense |
Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. | text | 130 | monetaryItemType | text: <entity> 130 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. </context> | us-gaap:NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent |
Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. | text | 67 | monetaryItemType | text: <entity> 67 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. </context> | us-gaap:NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent |
Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. | text | 21 | monetaryItemType | text: <entity> 21 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. </context> | us-gaap:ForeignCurrencyTransactionGainLossBeforeTax |
Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. | text | 73 | monetaryItemType | text: <entity> 73 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. </context> | us-gaap:ForeignCurrencyTransactionGainLossBeforeTax |
Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. | text | 69 | monetaryItemType | text: <entity> 69 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. </context> | us-gaap:InvestmentIncomeInterest |
Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. | text | 40 | monetaryItemType | text: <entity> 40 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. </context> | us-gaap:InvestmentIncomeInterest |
Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. | text | 81 | monetaryItemType | text: <entity> 81 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. </context> | us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal |
Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 85 million of income in 2024 compared to $ 27 million of expense in 2023. This change was primarily driven by a $ 130 million net pension and postretirement non-service benefit in 2024 compared to a $ 67 million net pension and postretirement non-service cost in 2023, a $ 21 million net foreign exchange gain in 2024 compared to a $ 73 million net foreign exchange loss in 2023, and $ 69 million in interest income in 2024 compared to $ 40 million in interest income in 2023. These impacts were partially offset by a $ 45 million net loss on derivative activities in 2024 compared to a $ 59 million net gain on derivative activities in 2023, a $ 81 million net loss on the sale of businesses in 2024 compared to a $ 4 million net gain on the sale of business in 2023, and a $ 19 million expense in other miscellaneous expenses in 2024 compared to a $ 4 million expense in other miscellaneous expenses in 2023. </context> | us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal |
Other expense/(income) was $ 27 million of expense in 2023 compared to $ 253 million of income in 2022. This change was primarily driven by a $ 67 million net pension and postretirement non-service costs in 2023 compared to a $ 135 million net pension and postretirement non-service benefit in 2022, a $ 73 million net foreign exchange loss in 2023 compared to a $ 106 million net foreign exchange gain in 2022, and a $ 21 million decrease in gain on sale of businesses. These impacts were partially offset by a $ 59 million net gain on derivative activities in 2023 compared to a $ 50 million net loss on derivative activities in 2022, and a $ 13 million increase in interest income as compared to the prior year period. | text | 67 | monetaryItemType | text: <entity> 67 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 27 million of expense in 2023 compared to $ 253 million of income in 2022. This change was primarily driven by a $ 67 million net pension and postretirement non-service costs in 2023 compared to a $ 135 million net pension and postretirement non-service benefit in 2022, a $ 73 million net foreign exchange loss in 2023 compared to a $ 106 million net foreign exchange gain in 2022, and a $ 21 million decrease in gain on sale of businesses. These impacts were partially offset by a $ 59 million net gain on derivative activities in 2023 compared to a $ 50 million net loss on derivative activities in 2022, and a $ 13 million increase in interest income as compared to the prior year period. </context> | us-gaap:NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent |
Other expense/(income) was $ 27 million of expense in 2023 compared to $ 253 million of income in 2022. This change was primarily driven by a $ 67 million net pension and postretirement non-service costs in 2023 compared to a $ 135 million net pension and postretirement non-service benefit in 2022, a $ 73 million net foreign exchange loss in 2023 compared to a $ 106 million net foreign exchange gain in 2022, and a $ 21 million decrease in gain on sale of businesses. These impacts were partially offset by a $ 59 million net gain on derivative activities in 2023 compared to a $ 50 million net loss on derivative activities in 2022, and a $ 13 million increase in interest income as compared to the prior year period. | text | 135 | monetaryItemType | text: <entity> 135 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 27 million of expense in 2023 compared to $ 253 million of income in 2022. This change was primarily driven by a $ 67 million net pension and postretirement non-service costs in 2023 compared to a $ 135 million net pension and postretirement non-service benefit in 2022, a $ 73 million net foreign exchange loss in 2023 compared to a $ 106 million net foreign exchange gain in 2022, and a $ 21 million decrease in gain on sale of businesses. These impacts were partially offset by a $ 59 million net gain on derivative activities in 2023 compared to a $ 50 million net loss on derivative activities in 2022, and a $ 13 million increase in interest income as compared to the prior year period. </context> | us-gaap:NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent |
Other expense/(income) was $ 27 million of expense in 2023 compared to $ 253 million of income in 2022. This change was primarily driven by a $ 67 million net pension and postretirement non-service costs in 2023 compared to a $ 135 million net pension and postretirement non-service benefit in 2022, a $ 73 million net foreign exchange loss in 2023 compared to a $ 106 million net foreign exchange gain in 2022, and a $ 21 million decrease in gain on sale of businesses. These impacts were partially offset by a $ 59 million net gain on derivative activities in 2023 compared to a $ 50 million net loss on derivative activities in 2022, and a $ 13 million increase in interest income as compared to the prior year period. | text | 73 | monetaryItemType | text: <entity> 73 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 27 million of expense in 2023 compared to $ 253 million of income in 2022. This change was primarily driven by a $ 67 million net pension and postretirement non-service costs in 2023 compared to a $ 135 million net pension and postretirement non-service benefit in 2022, a $ 73 million net foreign exchange loss in 2023 compared to a $ 106 million net foreign exchange gain in 2022, and a $ 21 million decrease in gain on sale of businesses. These impacts were partially offset by a $ 59 million net gain on derivative activities in 2023 compared to a $ 50 million net loss on derivative activities in 2022, and a $ 13 million increase in interest income as compared to the prior year period. </context> | us-gaap:ForeignCurrencyTransactionGainLossBeforeTax |
Other expense/(income) was $ 27 million of expense in 2023 compared to $ 253 million of income in 2022. This change was primarily driven by a $ 67 million net pension and postretirement non-service costs in 2023 compared to a $ 135 million net pension and postretirement non-service benefit in 2022, a $ 73 million net foreign exchange loss in 2023 compared to a $ 106 million net foreign exchange gain in 2022, and a $ 21 million decrease in gain on sale of businesses. These impacts were partially offset by a $ 59 million net gain on derivative activities in 2023 compared to a $ 50 million net loss on derivative activities in 2022, and a $ 13 million increase in interest income as compared to the prior year period. | text | 106 | monetaryItemType | text: <entity> 106 </entity> <entity type> monetaryItemType </entity type> <context> Other expense/(income) was $ 27 million of expense in 2023 compared to $ 253 million of income in 2022. This change was primarily driven by a $ 67 million net pension and postretirement non-service costs in 2023 compared to a $ 135 million net pension and postretirement non-service benefit in 2022, a $ 73 million net foreign exchange loss in 2023 compared to a $ 106 million net foreign exchange gain in 2022, and a $ 21 million decrease in gain on sale of businesses. These impacts were partially offset by a $ 59 million net gain on derivative activities in 2023 compared to a $ 50 million net loss on derivative activities in 2022, and a $ 13 million increase in interest income as compared to the prior year period. </context> | us-gaap:ForeignCurrencyTransactionGainLossBeforeTax |
Vornado Realty Trust (“Vornado”) is a fully‑integrated real estate investment trust (“REIT”) and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P. (the “Operating Partnership”), a Delaware limited partnership. Accordingly, Vornado’s cash flow and ability to pay dividends to its shareholders are dependent upon the cash flow of the Operating Partnership and the ability of its direct and indirect subsidiaries to first satisfy their obligations to creditors. Vornado is the sole general partner of and owned approximately 91.4 % of the common limited partnership interest in the Operating Partnership as of December 31, 2024. All references to the “Company,” “we,” “us” and “our” mean, collectively, Vornado, the Operating Partnership and those subsidiaries consolidated by Vornado. | text | 91.4 | percentItemType | text: <entity> 91.4 </entity> <entity type> percentItemType </entity type> <context> Vornado Realty Trust (“Vornado”) is a fully‑integrated real estate investment trust (“REIT”) and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P. (the “Operating Partnership”), a Delaware limited partnership. Accordingly, Vornado’s cash flow and ability to pay dividends to its shareholders are dependent upon the cash flow of the Operating Partnership and the ability of its direct and indirect subsidiaries to first satisfy their obligations to creditors. Vornado is the sole general partner of and owned approximately 91.4 % of the common limited partnership interest in the Operating Partnership as of December 31, 2024. All references to the “Company,” “we,” “us” and “our” mean, collectively, Vornado, the Operating Partnership and those subsidiaries consolidated by Vornado. </context> | us-gaap:LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest |
56 Manhattan operating properties consisting of: | text | 56 | integerItemType | text: <entity> 56 </entity> <entity type> integerItemType </entity type> <context> 56 Manhattan operating properties consisting of: </context> | us-gaap:NumberOfRealEstateProperties |
20.1 million square feet of office space in 30 of the properties; | text | 30 | integerItemType | text: <entity> 30 </entity> <entity type> integerItemType </entity type> <context> 20.1 million square feet of office space in 30 of the properties; </context> | us-gaap:NumberOfRealEstateProperties |
2.4 million square feet of street retail space in 49 of the properties; | text | 49 | integerItemType | text: <entity> 49 </entity> <entity type> integerItemType </entity type> <context> 2.4 million square feet of street retail space in 49 of the properties; </context> | us-gaap:NumberOfRealEstateProperties |
1,330 units in two Manhattan residential properties; | text | 1330 | integerItemType | text: <entity> 1330 </entity> <entity type> integerItemType </entity type> <context> 1,330 units in two Manhattan residential properties; </context> | us-gaap:NumberOfUnitsInRealEstateProperty |
1,330 units in two Manhattan residential properties; | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> 1,330 units in two Manhattan residential properties; </context> | us-gaap:NumberOfRealEstateProperties |
A 32.4 % interest in Alexander’s, Inc. (“Alexander’s”) (NYSE: ALX), which owns five properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.1 million square foot Bloomberg, L.P. headquarters building, and The Alexander, a 312 -unit apartment tower in Queens; | text | 32.4 | percentItemType | text: <entity> 32.4 </entity> <entity type> percentItemType </entity type> <context> A 32.4 % interest in Alexander’s, Inc. (“Alexander’s”) (NYSE: ALX), which owns five properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.1 million square foot Bloomberg, L.P. headquarters building, and The Alexander, a 312 -unit apartment tower in Queens; </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
A 32.4 % interest in Alexander’s, Inc. (“Alexander’s”) (NYSE: ALX), which owns five properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.1 million square foot Bloomberg, L.P. headquarters building, and The Alexander, a 312 -unit apartment tower in Queens; | text | five | integerItemType | text: <entity> five </entity> <entity type> integerItemType </entity type> <context> A 32.4 % interest in Alexander’s, Inc. (“Alexander’s”) (NYSE: ALX), which owns five properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.1 million square foot Bloomberg, L.P. headquarters building, and The Alexander, a 312 -unit apartment tower in Queens; </context> | us-gaap:NumberOfRealEstateProperties |
A 32.4 % interest in Alexander’s, Inc. (“Alexander’s”) (NYSE: ALX), which owns five properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.1 million square foot Bloomberg, L.P. headquarters building, and The Alexander, a 312 -unit apartment tower in Queens; | text | 312 | integerItemType | text: <entity> 312 </entity> <entity type> integerItemType </entity type> <context> A 32.4 % interest in Alexander’s, Inc. (“Alexander’s”) (NYSE: ALX), which owns five properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.1 million square foot Bloomberg, L.P. headquarters building, and The Alexander, a 312 -unit apartment tower in Queens; </context> | us-gaap:NumberOfUnitsInRealEstateProperty |
A 70 % controlling interest in 555 California Street, a three -building office complex in San Francisco’s financial district aggregating 1.8 million square feet; and | text | 70 | percentItemType | text: <entity> 70 </entity> <entity type> percentItemType </entity type> <context> A 70 % controlling interest in 555 California Street, a three -building office complex in San Francisco’s financial district aggregating 1.8 million square feet; and </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax assets, net of valuation allowances, of $ 6,142,000 and $ 7,557,000 , respectively, which are included in “other assets” on our consolidated balance sheets. As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax liabilities of $ 84,877,000 and $ 74,721,000 , respectively, which are included in "other liabilities" on our consolidated balance sheets. The deferred tax assets relate to net operating loss carry forwards and temporary differences between the book and tax basis of our assets. The deferred tax liabilities relate to temporary differences between the book and tax basis of our assets. | text | 6142000 | monetaryItemType | text: <entity> 6142000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax assets, net of valuation allowances, of $ 6,142,000 and $ 7,557,000 , respectively, which are included in “other assets” on our consolidated balance sheets. As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax liabilities of $ 84,877,000 and $ 74,721,000 , respectively, which are included in "other liabilities" on our consolidated balance sheets. The deferred tax assets relate to net operating loss carry forwards and temporary differences between the book and tax basis of our assets. The deferred tax liabilities relate to temporary differences between the book and tax basis of our assets. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwards |
As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax assets, net of valuation allowances, of $ 6,142,000 and $ 7,557,000 , respectively, which are included in “other assets” on our consolidated balance sheets. As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax liabilities of $ 84,877,000 and $ 74,721,000 , respectively, which are included in "other liabilities" on our consolidated balance sheets. The deferred tax assets relate to net operating loss carry forwards and temporary differences between the book and tax basis of our assets. The deferred tax liabilities relate to temporary differences between the book and tax basis of our assets. | text | 7557000 | monetaryItemType | text: <entity> 7557000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax assets, net of valuation allowances, of $ 6,142,000 and $ 7,557,000 , respectively, which are included in “other assets” on our consolidated balance sheets. As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax liabilities of $ 84,877,000 and $ 74,721,000 , respectively, which are included in "other liabilities" on our consolidated balance sheets. The deferred tax assets relate to net operating loss carry forwards and temporary differences between the book and tax basis of our assets. The deferred tax liabilities relate to temporary differences between the book and tax basis of our assets. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwards |
As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax assets, net of valuation allowances, of $ 6,142,000 and $ 7,557,000 , respectively, which are included in “other assets” on our consolidated balance sheets. As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax liabilities of $ 84,877,000 and $ 74,721,000 , respectively, which are included in "other liabilities" on our consolidated balance sheets. The deferred tax assets relate to net operating loss carry forwards and temporary differences between the book and tax basis of our assets. The deferred tax liabilities relate to temporary differences between the book and tax basis of our assets. | text | 84877000 | monetaryItemType | text: <entity> 84877000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax assets, net of valuation allowances, of $ 6,142,000 and $ 7,557,000 , respectively, which are included in “other assets” on our consolidated balance sheets. As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax liabilities of $ 84,877,000 and $ 74,721,000 , respectively, which are included in "other liabilities" on our consolidated balance sheets. The deferred tax assets relate to net operating loss carry forwards and temporary differences between the book and tax basis of our assets. The deferred tax liabilities relate to temporary differences between the book and tax basis of our assets. </context> | us-gaap:DeferredTaxLiabilities |
As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax assets, net of valuation allowances, of $ 6,142,000 and $ 7,557,000 , respectively, which are included in “other assets” on our consolidated balance sheets. As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax liabilities of $ 84,877,000 and $ 74,721,000 , respectively, which are included in "other liabilities" on our consolidated balance sheets. The deferred tax assets relate to net operating loss carry forwards and temporary differences between the book and tax basis of our assets. The deferred tax liabilities relate to temporary differences between the book and tax basis of our assets. | text | 74721000 | monetaryItemType | text: <entity> 74721000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax assets, net of valuation allowances, of $ 6,142,000 and $ 7,557,000 , respectively, which are included in “other assets” on our consolidated balance sheets. As of December 31, 2024 and 2023, our taxable REIT subsidiaries had deferred tax liabilities of $ 84,877,000 and $ 74,721,000 , respectively, which are included in "other liabilities" on our consolidated balance sheets. The deferred tax assets relate to net operating loss carry forwards and temporary differences between the book and tax basis of our assets. The deferred tax liabilities relate to temporary differences between the book and tax basis of our assets. </context> | us-gaap:DeferredTaxLiabilities |
As of December 31, 2024, our taxable REIT subsidiaries have an estimated $ 181,000,000 of federal net operating loss ("NOL") carryforwards and $ 246,000,000 of state and local NOL carryforwards, which are reduced by valuation allowances of $ 162,000,000 for federal NOL carryforwards and $ 246,000,000 for state and local NOL carryforwards. The NOL carryforwards are subject to certain limitations. | text | 181000000 | monetaryItemType | text: <entity> 181000000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, our taxable REIT subsidiaries have an estimated $ 181,000,000 of federal net operating loss ("NOL") carryforwards and $ 246,000,000 of state and local NOL carryforwards, which are reduced by valuation allowances of $ 162,000,000 for federal NOL carryforwards and $ 246,000,000 for state and local NOL carryforwards. The NOL carryforwards are subject to certain limitations. </context> | us-gaap:OperatingLossCarryforwards |
As of December 31, 2024, our taxable REIT subsidiaries have an estimated $ 181,000,000 of federal net operating loss ("NOL") carryforwards and $ 246,000,000 of state and local NOL carryforwards, which are reduced by valuation allowances of $ 162,000,000 for federal NOL carryforwards and $ 246,000,000 for state and local NOL carryforwards. The NOL carryforwards are subject to certain limitations. | text | 246000000 | monetaryItemType | text: <entity> 246000000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, our taxable REIT subsidiaries have an estimated $ 181,000,000 of federal net operating loss ("NOL") carryforwards and $ 246,000,000 of state and local NOL carryforwards, which are reduced by valuation allowances of $ 162,000,000 for federal NOL carryforwards and $ 246,000,000 for state and local NOL carryforwards. The NOL carryforwards are subject to certain limitations. </context> | us-gaap:OperatingLossCarryforwards |
As of December 31, 2024, our taxable REIT subsidiaries have an estimated $ 181,000,000 of federal net operating loss ("NOL") carryforwards and $ 246,000,000 of state and local NOL carryforwards, which are reduced by valuation allowances of $ 162,000,000 for federal NOL carryforwards and $ 246,000,000 for state and local NOL carryforwards. The NOL carryforwards are subject to certain limitations. | text | 162000000 | monetaryItemType | text: <entity> 162000000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, our taxable REIT subsidiaries have an estimated $ 181,000,000 of federal net operating loss ("NOL") carryforwards and $ 246,000,000 of state and local NOL carryforwards, which are reduced by valuation allowances of $ 162,000,000 for federal NOL carryforwards and $ 246,000,000 for state and local NOL carryforwards. The NOL carryforwards are subject to certain limitations. </context> | us-gaap:OperatingLossCarryforwardsValuationAllowance |
As of December 31, 2024, our taxable REIT subsidiaries have an estimated $ 181,000,000 of federal net operating loss ("NOL") carryforwards and $ 246,000,000 of state and local NOL carryforwards, which are reduced by valuation allowances of $ 162,000,000 for federal NOL carryforwards and $ 246,000,000 for state and local NOL carryforwards. The NOL carryforwards are subject to certain limitations. | text | 246000000 | monetaryItemType | text: <entity> 246000000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, our taxable REIT subsidiaries have an estimated $ 181,000,000 of federal net operating loss ("NOL") carryforwards and $ 246,000,000 of state and local NOL carryforwards, which are reduced by valuation allowances of $ 162,000,000 for federal NOL carryforwards and $ 246,000,000 for state and local NOL carryforwards. The NOL carryforwards are subject to certain limitations. </context> | us-gaap:OperatingLossCarryforwardsValuationAllowance |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 22729000 | monetaryItemType | text: <entity> 22729000 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:IncomeTaxExpenseBenefit |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 53.0 | percentItemType | text: <entity> 53.0 </entity> <entity type> percentItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:EffectiveIncomeTaxRateContinuingOperations |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 29222000 | monetaryItemType | text: <entity> 29222000 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:IncomeTaxExpenseBenefit |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 21660000 | monetaryItemType | text: <entity> 21660000 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:IncomeTaxExpenseBenefit |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 47.0 | percentItemType | text: <entity> 47.0 </entity> <entity type> percentItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:EffectiveIncomeTaxRateContinuingOperations |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 6.0 | percentItemType | text: <entity> 6.0 </entity> <entity type> percentItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:EffectiveIncomeTaxRateContinuingOperations |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 14353000 | monetaryItemType | text: <entity> 14353000 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:IncomeTaxExpenseBenefit |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 11722000 | monetaryItemType | text: <entity> 11722000 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:IncomeTaxExpenseBenefit |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 2168000 | monetaryItemType | text: <entity> 2168000 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:IncomeTaxExpenseBenefit |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 13665000 | monetaryItemType | text: <entity> 13665000 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:IncomeTaxExpenseBenefit |
For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. | text | 6016000 | monetaryItemType | text: <entity> 6016000 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2024, we recognized $ 22,729,000 of income tax expense based on an effective tax rate of approximately 53.0 %. For the years ended December 31, 2023 and 2022, we recognized $ 29,222,000 and $ 21,660,000 of income tax expense, based on effective tax rates of approximately 47.0 % and negative 6.0 %, respectively. Income tax expense recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2024 included $ 14,353,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $ 2,106,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2023 included $ 11,722,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $ 13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $ 6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2024 and 2023. </context> | us-gaap:IncomeTaxExpenseBenefit |
2023 includes the receipt of a $ 21,350 tenant settlement, of which $ 6,405 is attributable to noncontrolling interests. | text | 21350 | monetaryItemType | text: <entity> 21350 </entity> <entity type> monetaryItemType </entity type> <context> 2023 includes the receipt of a $ 21,350 tenant settlement, of which $ 6,405 is attributable to noncontrolling interests. </context> | us-gaap:LossContingencyDamagesAwardedValue |
2023 includes the receipt of a $ 21,350 tenant settlement, of which $ 6,405 is attributable to noncontrolling interests. | text | 6405 | monetaryItemType | text: <entity> 6405 </entity> <entity type> monetaryItemType </entity type> <context> 2023 includes the receipt of a $ 21,350 tenant settlement, of which $ 6,405 is attributable to noncontrolling interests. </context> | us-gaap:LossContingencyDamagesAwardedValue |
As of December 31, 2024, we own a 51.5 % common interest in a joint venture ("Fifth Avenue and Times Square JV") which owns interests in properties located at 640 Fifth Avenue, 655 Fifth Avenue, 666 Fifth Avenue, 689 Fifth Avenue, 697-703 Fifth Avenue, 1535 Broadway and 1540 Broadway (collectively, the "Properties"). The remaining 48.5 % common interest in the joint venture is owned by a group of institutional investors (the "Investors"). Our 51.5 % common interest in the joint venture represents an effective 51.0 % interest in the Properties. The 48.5 % common interest in the joint venture owned by the Investors represents an effective 47.2 % interest in the Properties. | text | 51.5 | percentItemType | text: <entity> 51.5 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, we own a 51.5 % common interest in a joint venture ("Fifth Avenue and Times Square JV") which owns interests in properties located at 640 Fifth Avenue, 655 Fifth Avenue, 666 Fifth Avenue, 689 Fifth Avenue, 697-703 Fifth Avenue, 1535 Broadway and 1540 Broadway (collectively, the "Properties"). The remaining 48.5 % common interest in the joint venture is owned by a group of institutional investors (the "Investors"). Our 51.5 % common interest in the joint venture represents an effective 51.0 % interest in the Properties. The 48.5 % common interest in the joint venture owned by the Investors represents an effective 47.2 % interest in the Properties. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
As of December 31, 2024, we own a 51.5 % common interest in a joint venture ("Fifth Avenue and Times Square JV") which owns interests in properties located at 640 Fifth Avenue, 655 Fifth Avenue, 666 Fifth Avenue, 689 Fifth Avenue, 697-703 Fifth Avenue, 1535 Broadway and 1540 Broadway (collectively, the "Properties"). The remaining 48.5 % common interest in the joint venture is owned by a group of institutional investors (the "Investors"). Our 51.5 % common interest in the joint venture represents an effective 51.0 % interest in the Properties. The 48.5 % common interest in the joint venture owned by the Investors represents an effective 47.2 % interest in the Properties. | text | 48.5 | percentItemType | text: <entity> 48.5 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, we own a 51.5 % common interest in a joint venture ("Fifth Avenue and Times Square JV") which owns interests in properties located at 640 Fifth Avenue, 655 Fifth Avenue, 666 Fifth Avenue, 689 Fifth Avenue, 697-703 Fifth Avenue, 1535 Broadway and 1540 Broadway (collectively, the "Properties"). The remaining 48.5 % common interest in the joint venture is owned by a group of institutional investors (the "Investors"). Our 51.5 % common interest in the joint venture represents an effective 51.0 % interest in the Properties. The 48.5 % common interest in the joint venture owned by the Investors represents an effective 47.2 % interest in the Properties. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
We also own $ 1.828 billion aggregate liquidation preference of preferred equity interests in certain of the Properties. | text | 1.828 | monetaryItemType | text: <entity> 1.828 </entity> <entity type> monetaryItemType </entity type> <context> We also own $ 1.828 billion aggregate liquidation preference of preferred equity interests in certain of the Properties. </context> | us-gaap:RealEstateInvestmentsJointVentures |
The preferred equity had an annual coupon of 4.25 % until April 2024. In April 2024, it increased to 4.75 % for a five year period and will then be based on a formulaic rate. It can be redeemed under certain conditions on a tax deferred basis. | text | 4.25 | percentItemType | text: <entity> 4.25 </entity> <entity type> percentItemType </entity type> <context> The preferred equity had an annual coupon of 4.25 % until April 2024. In April 2024, it increased to 4.75 % for a five year period and will then be based on a formulaic rate. It can be redeemed under certain conditions on a tax deferred basis. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The preferred equity had an annual coupon of 4.25 % until April 2024. In April 2024, it increased to 4.75 % for a five year period and will then be based on a formulaic rate. It can be redeemed under certain conditions on a tax deferred basis. | text | 4.75 | percentItemType | text: <entity> 4.75 </entity> <entity type> percentItemType </entity type> <context> The preferred equity had an annual coupon of 4.25 % until April 2024. In April 2024, it increased to 4.75 % for a five year period and will then be based on a formulaic rate. It can be redeemed under certain conditions on a tax deferred basis. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
We receive an annual fee for managing the Properties equal to 2 % of the gross revenues from the Properties. In addition, we are entitled to a development fee of 5 % of development costs, plus reimbursement of certain costs, for development projects performed by us. We are entitled to 1.5 % of development costs, plus reimbursement of certain costs, as a supervisory fee for development projects not performed by us. We provide leasing services for fees calculated based on a percentage of rents, less any commissions paid to third-party real estate brokers, if applicable. We jointly provide leasing services for the retail space with Crown Retail Services LLC, and exclusively provide leasing services for the office space. We recognized property management fee income, included in "fee and other income" on our consolidated statements of income, of $ 4,276,000 , $ 4,587,000 and $ 4,397,000 for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 4276000 | monetaryItemType | text: <entity> 4276000 </entity> <entity type> monetaryItemType </entity type> <context> We receive an annual fee for managing the Properties equal to 2 % of the gross revenues from the Properties. In addition, we are entitled to a development fee of 5 % of development costs, plus reimbursement of certain costs, for development projects performed by us. We are entitled to 1.5 % of development costs, plus reimbursement of certain costs, as a supervisory fee for development projects not performed by us. We provide leasing services for fees calculated based on a percentage of rents, less any commissions paid to third-party real estate brokers, if applicable. We jointly provide leasing services for the retail space with Crown Retail Services LLC, and exclusively provide leasing services for the office space. We recognized property management fee income, included in "fee and other income" on our consolidated statements of income, of $ 4,276,000 , $ 4,587,000 and $ 4,397,000 for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:PropertyManagementFeeRevenue |
We receive an annual fee for managing the Properties equal to 2 % of the gross revenues from the Properties. In addition, we are entitled to a development fee of 5 % of development costs, plus reimbursement of certain costs, for development projects performed by us. We are entitled to 1.5 % of development costs, plus reimbursement of certain costs, as a supervisory fee for development projects not performed by us. We provide leasing services for fees calculated based on a percentage of rents, less any commissions paid to third-party real estate brokers, if applicable. We jointly provide leasing services for the retail space with Crown Retail Services LLC, and exclusively provide leasing services for the office space. We recognized property management fee income, included in "fee and other income" on our consolidated statements of income, of $ 4,276,000 , $ 4,587,000 and $ 4,397,000 for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 4587000 | monetaryItemType | text: <entity> 4587000 </entity> <entity type> monetaryItemType </entity type> <context> We receive an annual fee for managing the Properties equal to 2 % of the gross revenues from the Properties. In addition, we are entitled to a development fee of 5 % of development costs, plus reimbursement of certain costs, for development projects performed by us. We are entitled to 1.5 % of development costs, plus reimbursement of certain costs, as a supervisory fee for development projects not performed by us. We provide leasing services for fees calculated based on a percentage of rents, less any commissions paid to third-party real estate brokers, if applicable. We jointly provide leasing services for the retail space with Crown Retail Services LLC, and exclusively provide leasing services for the office space. We recognized property management fee income, included in "fee and other income" on our consolidated statements of income, of $ 4,276,000 , $ 4,587,000 and $ 4,397,000 for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:PropertyManagementFeeRevenue |
We receive an annual fee for managing the Properties equal to 2 % of the gross revenues from the Properties. In addition, we are entitled to a development fee of 5 % of development costs, plus reimbursement of certain costs, for development projects performed by us. We are entitled to 1.5 % of development costs, plus reimbursement of certain costs, as a supervisory fee for development projects not performed by us. We provide leasing services for fees calculated based on a percentage of rents, less any commissions paid to third-party real estate brokers, if applicable. We jointly provide leasing services for the retail space with Crown Retail Services LLC, and exclusively provide leasing services for the office space. We recognized property management fee income, included in "fee and other income" on our consolidated statements of income, of $ 4,276,000 , $ 4,587,000 and $ 4,397,000 for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 4397000 | monetaryItemType | text: <entity> 4397000 </entity> <entity type> monetaryItemType </entity type> <context> We receive an annual fee for managing the Properties equal to 2 % of the gross revenues from the Properties. In addition, we are entitled to a development fee of 5 % of development costs, plus reimbursement of certain costs, for development projects performed by us. We are entitled to 1.5 % of development costs, plus reimbursement of certain costs, as a supervisory fee for development projects not performed by us. We provide leasing services for fees calculated based on a percentage of rents, less any commissions paid to third-party real estate brokers, if applicable. We jointly provide leasing services for the retail space with Crown Retail Services LLC, and exclusively provide leasing services for the office space. We recognized property management fee income, included in "fee and other income" on our consolidated statements of income, of $ 4,276,000 , $ 4,587,000 and $ 4,397,000 for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:PropertyManagementFeeRevenue |
Wholly owned subsidiaries of Vornado provide cleaning, security and engineering services at certain Properties. We recognized income for these services, included in "fee and other income" on our consolidated statements of income, of $ 4,624,000 , $ 4,499,000 and $ 4,571,000 for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 4624000 | monetaryItemType | text: <entity> 4624000 </entity> <entity type> monetaryItemType </entity type> <context> Wholly owned subsidiaries of Vornado provide cleaning, security and engineering services at certain Properties. We recognized income for these services, included in "fee and other income" on our consolidated statements of income, of $ 4,624,000 , $ 4,499,000 and $ 4,571,000 for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:Revenues |
Wholly owned subsidiaries of Vornado provide cleaning, security and engineering services at certain Properties. We recognized income for these services, included in "fee and other income" on our consolidated statements of income, of $ 4,624,000 , $ 4,499,000 and $ 4,571,000 for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 4499000 | monetaryItemType | text: <entity> 4499000 </entity> <entity type> monetaryItemType </entity type> <context> Wholly owned subsidiaries of Vornado provide cleaning, security and engineering services at certain Properties. We recognized income for these services, included in "fee and other income" on our consolidated statements of income, of $ 4,624,000 , $ 4,499,000 and $ 4,571,000 for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:Revenues |
Wholly owned subsidiaries of Vornado provide cleaning, security and engineering services at certain Properties. We recognized income for these services, included in "fee and other income" on our consolidated statements of income, of $ 4,624,000 , $ 4,499,000 and $ 4,571,000 for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 4571000 | monetaryItemType | text: <entity> 4571000 </entity> <entity type> monetaryItemType </entity type> <context> Wholly owned subsidiaries of Vornado provide cleaning, security and engineering services at certain Properties. We recognized income for these services, included in "fee and other income" on our consolidated statements of income, of $ 4,624,000 , $ 4,499,000 and $ 4,571,000 for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:Revenues |
On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. | text | 400000000 | monetaryItemType | text: <entity> 400000000 </entity> <entity type> monetaryItemType </entity type> <context> On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. </context> | us-gaap:LoansPayable |
On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. | text | 7.47 | percentItemType | text: <entity> 7.47 </entity> <entity type> percentItemType </entity type> <context> On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. | text | 7000000 | monetaryItemType | text: <entity> 7000000 </entity> <entity type> monetaryItemType </entity type> <context> On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. </context> | us-gaap:DebtInstrumentPeriodicPayment |
On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. | text | 500000000 | monetaryItemType | text: <entity> 500000000 </entity> <entity type> monetaryItemType </entity type> <context> On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. </context> | us-gaap:LoansPayable |
On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. | text | 100000000 | monetaryItemType | text: <entity> 100000000 </entity> <entity type> monetaryItemType </entity type> <context> On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. </context> | us-gaap:RepaymentsOfLongTermDebt |
On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. | text | 1.11 | percentItemType | text: <entity> 1.11 </entity> <entity type> percentItemType </entity type> <context> On June 10, 2024, the Fifth Avenue and Times Square JV completed a $ 400,000,000 refinancing of 640 Fifth Avenue. The non-recourse loan matures in July 2029, bears interest at a fixed rate of 7.47 % and amortizes at $ 7,000,000 per annum. The loan replaces the previous $ 500,000,000 loan, which the joint venture paid down by $ 100,000,000 . The previous loan was fully recourse to the Operating Partnership and bore interest at SOFR plus 1.11 %. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
As of December 31, 2024, we own 1,654,068 Alexander’s common shares, or approximately 32.4 % of Alexander’s common equity. We manage, develop and lease Alexander’s properties pursuant to agreements which expire in March of each year and are automatically renewable. As of December 31, 2024 and 2023, Alexander’s owed us an aggregate of $ 1,159,000 and $ 715,000 , respectively, pursuant to such agreements. | text | 1654068 | sharesItemType | text: <entity> 1654068 </entity> <entity type> sharesItemType </entity type> <context> As of December 31, 2024, we own 1,654,068 Alexander’s common shares, or approximately 32.4 % of Alexander’s common equity. We manage, develop and lease Alexander’s properties pursuant to agreements which expire in March of each year and are automatically renewable. As of December 31, 2024 and 2023, Alexander’s owed us an aggregate of $ 1,159,000 and $ 715,000 , respectively, pursuant to such agreements. </context> | us-gaap:InvestmentOwnedBalanceShares |
As of December 31, 2024, we own 1,654,068 Alexander’s common shares, or approximately 32.4 % of Alexander’s common equity. We manage, develop and lease Alexander’s properties pursuant to agreements which expire in March of each year and are automatically renewable. As of December 31, 2024 and 2023, Alexander’s owed us an aggregate of $ 1,159,000 and $ 715,000 , respectively, pursuant to such agreements. | text | 32.4 | percentItemType | text: <entity> 32.4 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, we own 1,654,068 Alexander’s common shares, or approximately 32.4 % of Alexander’s common equity. We manage, develop and lease Alexander’s properties pursuant to agreements which expire in March of each year and are automatically renewable. As of December 31, 2024 and 2023, Alexander’s owed us an aggregate of $ 1,159,000 and $ 715,000 , respectively, pursuant to such agreements. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
As of December 31, 2024, we own 1,654,068 Alexander’s common shares, or approximately 32.4 % of Alexander’s common equity. We manage, develop and lease Alexander’s properties pursuant to agreements which expire in March of each year and are automatically renewable. As of December 31, 2024 and 2023, Alexander’s owed us an aggregate of $ 1,159,000 and $ 715,000 , respectively, pursuant to such agreements. | text | 1159000 | monetaryItemType | text: <entity> 1159000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, we own 1,654,068 Alexander’s common shares, or approximately 32.4 % of Alexander’s common equity. We manage, develop and lease Alexander’s properties pursuant to agreements which expire in March of each year and are automatically renewable. As of December 31, 2024 and 2023, Alexander’s owed us an aggregate of $ 1,159,000 and $ 715,000 , respectively, pursuant to such agreements. </context> | us-gaap:AccountsReceivableNet |
As of December 31, 2024, we own 1,654,068 Alexander’s common shares, or approximately 32.4 % of Alexander’s common equity. We manage, develop and lease Alexander’s properties pursuant to agreements which expire in March of each year and are automatically renewable. As of December 31, 2024 and 2023, Alexander’s owed us an aggregate of $ 1,159,000 and $ 715,000 , respectively, pursuant to such agreements. | text | 715000 | monetaryItemType | text: <entity> 715000 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, we own 1,654,068 Alexander’s common shares, or approximately 32.4 % of Alexander’s common equity. We manage, develop and lease Alexander’s properties pursuant to agreements which expire in March of each year and are automatically renewable. As of December 31, 2024 and 2023, Alexander’s owed us an aggregate of $ 1,159,000 and $ 715,000 , respectively, pursuant to such agreements. </context> | us-gaap:AccountsReceivableNet |
("ASC 820")) of our investment in Alexander’s, based on Alexander’s December 31, 2024 closing share price of $ 200.06 , was $ 330,913,000 , or $ 262,421,000 in excess of the carrying amount on our consolidated balance sheet. As of December 31, 2024, the carrying amount of our investment in Alexander’s, excluding amounts owed to us, exceeds our share of the equity in the net assets of Alexander’s by approximately $ 29,272,000 . The majority of this basis difference resulted from the excess of our purchase price for the Alexander’s common stock acquired over the book value of Alexander’s net assets. Substantially all of this basis difference was allocated, based on our estimates of the fair values of Alexander’s assets and liabilities, to real estate (land and buildings). We are amortizing the basis difference related to the buildings into earnings as additional depreciation expense over their estimated useful lives. This depreciation is not material to our share of equity in Alexander’s net income. | text | 200.06 | perShareItemType | text: <entity> 200.06 </entity> <entity type> perShareItemType </entity type> <context> ("ASC 820")) of our investment in Alexander’s, based on Alexander’s December 31, 2024 closing share price of $ 200.06 , was $ 330,913,000 , or $ 262,421,000 in excess of the carrying amount on our consolidated balance sheet. As of December 31, 2024, the carrying amount of our investment in Alexander’s, excluding amounts owed to us, exceeds our share of the equity in the net assets of Alexander’s by approximately $ 29,272,000 . The majority of this basis difference resulted from the excess of our purchase price for the Alexander’s common stock acquired over the book value of Alexander’s net assets. Substantially all of this basis difference was allocated, based on our estimates of the fair values of Alexander’s assets and liabilities, to real estate (land and buildings). We are amortizing the basis difference related to the buildings into earnings as additional depreciation expense over their estimated useful lives. This depreciation is not material to our share of equity in Alexander’s net income. </context> | us-gaap:SaleOfStockPricePerShare |
("ASC 820")) of our investment in Alexander’s, based on Alexander’s December 31, 2024 closing share price of $ 200.06 , was $ 330,913,000 , or $ 262,421,000 in excess of the carrying amount on our consolidated balance sheet. As of December 31, 2024, the carrying amount of our investment in Alexander’s, excluding amounts owed to us, exceeds our share of the equity in the net assets of Alexander’s by approximately $ 29,272,000 . The majority of this basis difference resulted from the excess of our purchase price for the Alexander’s common stock acquired over the book value of Alexander’s net assets. Substantially all of this basis difference was allocated, based on our estimates of the fair values of Alexander’s assets and liabilities, to real estate (land and buildings). We are amortizing the basis difference related to the buildings into earnings as additional depreciation expense over their estimated useful lives. This depreciation is not material to our share of equity in Alexander’s net income. | text | 330913000 | monetaryItemType | text: <entity> 330913000 </entity> <entity type> monetaryItemType </entity type> <context> ("ASC 820")) of our investment in Alexander’s, based on Alexander’s December 31, 2024 closing share price of $ 200.06 , was $ 330,913,000 , or $ 262,421,000 in excess of the carrying amount on our consolidated balance sheet. As of December 31, 2024, the carrying amount of our investment in Alexander’s, excluding amounts owed to us, exceeds our share of the equity in the net assets of Alexander’s by approximately $ 29,272,000 . The majority of this basis difference resulted from the excess of our purchase price for the Alexander’s common stock acquired over the book value of Alexander’s net assets. Substantially all of this basis difference was allocated, based on our estimates of the fair values of Alexander’s assets and liabilities, to real estate (land and buildings). We are amortizing the basis difference related to the buildings into earnings as additional depreciation expense over their estimated useful lives. This depreciation is not material to our share of equity in Alexander’s net income. </context> | us-gaap:EquityMethodInvestmentQuotedMarketValue |
("ASC 820")) of our investment in Alexander’s, based on Alexander’s December 31, 2024 closing share price of $ 200.06 , was $ 330,913,000 , or $ 262,421,000 in excess of the carrying amount on our consolidated balance sheet. As of December 31, 2024, the carrying amount of our investment in Alexander’s, excluding amounts owed to us, exceeds our share of the equity in the net assets of Alexander’s by approximately $ 29,272,000 . The majority of this basis difference resulted from the excess of our purchase price for the Alexander’s common stock acquired over the book value of Alexander’s net assets. Substantially all of this basis difference was allocated, based on our estimates of the fair values of Alexander’s assets and liabilities, to real estate (land and buildings). We are amortizing the basis difference related to the buildings into earnings as additional depreciation expense over their estimated useful lives. This depreciation is not material to our share of equity in Alexander’s net income. | text | 29272000 | monetaryItemType | text: <entity> 29272000 </entity> <entity type> monetaryItemType </entity type> <context> ("ASC 820")) of our investment in Alexander’s, based on Alexander’s December 31, 2024 closing share price of $ 200.06 , was $ 330,913,000 , or $ 262,421,000 in excess of the carrying amount on our consolidated balance sheet. As of December 31, 2024, the carrying amount of our investment in Alexander’s, excluding amounts owed to us, exceeds our share of the equity in the net assets of Alexander’s by approximately $ 29,272,000 . The majority of this basis difference resulted from the excess of our purchase price for the Alexander’s common stock acquired over the book value of Alexander’s net assets. Substantially all of this basis difference was allocated, based on our estimates of the fair values of Alexander’s assets and liabilities, to real estate (land and buildings). We are amortizing the basis difference related to the buildings into earnings as additional depreciation expense over their estimated useful lives. This depreciation is not material to our share of equity in Alexander’s net income. </context> | us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity |
On September 30, 2024, Alexander’s completed a $ 400,000,000 refinancing of the office condominium portion of 731 Lexington Avenue, the Bloomberg LP headquarters building. The interest-only loan carries a fixed rate of 5.04 % and matures in October 2028. The loan is prepayable, at Alexander’s option, with no penalty, beginning in October 2026. The loan replaces the previous $ 490,000,000 loan on the office condominium, that bore interest at the Prime Rate and was scheduled to mature in October 2024. | text | 400000000 | monetaryItemType | text: <entity> 400000000 </entity> <entity type> monetaryItemType </entity type> <context> On September 30, 2024, Alexander’s completed a $ 400,000,000 refinancing of the office condominium portion of 731 Lexington Avenue, the Bloomberg LP headquarters building. The interest-only loan carries a fixed rate of 5.04 % and matures in October 2028. The loan is prepayable, at Alexander’s option, with no penalty, beginning in October 2026. The loan replaces the previous $ 490,000,000 loan on the office condominium, that bore interest at the Prime Rate and was scheduled to mature in October 2024. </context> | us-gaap:LoansPayable |
On September 30, 2024, Alexander’s completed a $ 400,000,000 refinancing of the office condominium portion of 731 Lexington Avenue, the Bloomberg LP headquarters building. The interest-only loan carries a fixed rate of 5.04 % and matures in October 2028. The loan is prepayable, at Alexander’s option, with no penalty, beginning in October 2026. The loan replaces the previous $ 490,000,000 loan on the office condominium, that bore interest at the Prime Rate and was scheduled to mature in October 2024. | text | 5.04 | percentItemType | text: <entity> 5.04 </entity> <entity type> percentItemType </entity type> <context> On September 30, 2024, Alexander’s completed a $ 400,000,000 refinancing of the office condominium portion of 731 Lexington Avenue, the Bloomberg LP headquarters building. The interest-only loan carries a fixed rate of 5.04 % and matures in October 2028. The loan is prepayable, at Alexander’s option, with no penalty, beginning in October 2026. The loan replaces the previous $ 490,000,000 loan on the office condominium, that bore interest at the Prime Rate and was scheduled to mature in October 2024. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On September 30, 2024, Alexander’s completed a $ 400,000,000 refinancing of the office condominium portion of 731 Lexington Avenue, the Bloomberg LP headquarters building. The interest-only loan carries a fixed rate of 5.04 % and matures in October 2028. The loan is prepayable, at Alexander’s option, with no penalty, beginning in October 2026. The loan replaces the previous $ 490,000,000 loan on the office condominium, that bore interest at the Prime Rate and was scheduled to mature in October 2024. | text | 490000000 | monetaryItemType | text: <entity> 490000000 </entity> <entity type> monetaryItemType </entity type> <context> On September 30, 2024, Alexander’s completed a $ 400,000,000 refinancing of the office condominium portion of 731 Lexington Avenue, the Bloomberg LP headquarters building. The interest-only loan carries a fixed rate of 5.04 % and matures in October 2028. The loan is prepayable, at Alexander’s option, with no penalty, beginning in October 2026. The loan replaces the previous $ 490,000,000 loan on the office condominium, that bore interest at the Prime Rate and was scheduled to mature in October 2024. </context> | us-gaap:LoansPayable |
On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. | text | 1075000000 | monetaryItemType | text: <entity> 1075000000 </entity> <entity type> monetaryItemType </entity type> <context> On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. </context> | us-gaap:DebtInstrumentFaceAmount |
On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. | text | 1.78 | percentItemType | text: <entity> 1.78 </entity> <entity type> percentItemType </entity type> <context> On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. | text | 5.84 | percentItemType | text: <entity> 5.84 </entity> <entity type> percentItemType </entity type> <context> On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. | text | 125000000 | monetaryItemType | text: <entity> 125000000 </entity> <entity type> monetaryItemType </entity type> <context> On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. </context> | us-gaap:DebtInstrumentFaceAmount |
On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. | text | 62500000 | monetaryItemType | text: <entity> 62500000 </entity> <entity type> monetaryItemType </entity type> <context> On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. </context> | us-gaap:RepaymentsOfDebt |
On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. | text | 31215000 | monetaryItemType | text: <entity> 31215000 </entity> <entity type> monetaryItemType </entity type> <context> On April 4, 2024, a joint venture, in which we have a 50 % interest, amended and extended the $ 1,075,000,000 mortgage loan on 280 Park Avenue. The maturity date on the amended loan was extended to September 2026, with options to fully extend to September 2028, subject to certain conditions. The interest rate on the amended loan remains at SOFR plus 1.78 %. On July 8, 2024, the joint venture swapped the interest rate to a fixed rate of 5.84 % through September 2028. Additionally, on April 4, 2024, the joint venture amended and extended the $ 125,000,000 mezzanine loan and subsequently repaid the loan for $ 62,500,000 . In connection with the repayment of the mezzanine loan, we recognized our $ 31,215,000 share of the debt extinguishment gain which is included in “income (loss) from partially owned entities” on our consolidated statements of income. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
On May 13, 2024, we sold our 49.9 % interest in 50-70 West 93rd Street to our joint venture partner. We received net proceeds of $ 2,000,000 after deducting our share of the existing $ 83,500,000 mortgage loan, which was scheduled to mature in December 2024, resulting in a net gain of $ 873,000 . The net gain is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. | text | 2000000 | monetaryItemType | text: <entity> 2000000 </entity> <entity type> monetaryItemType </entity type> <context> On May 13, 2024, we sold our 49.9 % interest in 50-70 West 93rd Street to our joint venture partner. We received net proceeds of $ 2,000,000 after deducting our share of the existing $ 83,500,000 mortgage loan, which was scheduled to mature in December 2024, resulting in a net gain of $ 873,000 . The net gain is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. </context> | us-gaap:ProceedsFromSaleOfRealEstateHeldforinvestment |
On May 13, 2024, we sold our 49.9 % interest in 50-70 West 93rd Street to our joint venture partner. We received net proceeds of $ 2,000,000 after deducting our share of the existing $ 83,500,000 mortgage loan, which was scheduled to mature in December 2024, resulting in a net gain of $ 873,000 . The net gain is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. | text | 83500000 | monetaryItemType | text: <entity> 83500000 </entity> <entity type> monetaryItemType </entity type> <context> On May 13, 2024, we sold our 49.9 % interest in 50-70 West 93rd Street to our joint venture partner. We received net proceeds of $ 2,000,000 after deducting our share of the existing $ 83,500,000 mortgage loan, which was scheduled to mature in December 2024, resulting in a net gain of $ 873,000 . The net gain is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. </context> | us-gaap:DebtInstrumentFaceAmount |
On May 13, 2024, we sold our 49.9 % interest in 50-70 West 93rd Street to our joint venture partner. We received net proceeds of $ 2,000,000 after deducting our share of the existing $ 83,500,000 mortgage loan, which was scheduled to mature in December 2024, resulting in a net gain of $ 873,000 . The net gain is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. | text | 873000 | monetaryItemType | text: <entity> 873000 </entity> <entity type> monetaryItemType </entity type> <context> On May 13, 2024, we sold our 49.9 % interest in 50-70 West 93rd Street to our joint venture partner. We received net proceeds of $ 2,000,000 after deducting our share of the existing $ 83,500,000 mortgage loan, which was scheduled to mature in December 2024, resulting in a net gain of $ 873,000 . The net gain 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 September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. | text | 49.9 | percentItemType | text: <entity> 49.9 </entity> <entity type> percentItemType </entity type> <context> On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. | text | 625000000 | monetaryItemType | text: <entity> 625000000 </entity> <entity type> monetaryItemType </entity type> <context> On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. </context> | us-gaap:DebtInstrumentFaceAmount |
On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. | text | 396000000 | monetaryItemType | text: <entity> 396000000 </entity> <entity type> monetaryItemType </entity type> <context> On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. </context> | us-gaap:DebtInstrumentFaceAmount |
On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. | text | 3.82 | percentItemType | text: <entity> 3.82 </entity> <entity type> percentItemType </entity type> <context> On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. | text | 129000000 | monetaryItemType | text: <entity> 129000000 </entity> <entity type> monetaryItemType </entity type> <context> On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. </context> | us-gaap:DebtInstrumentFaceAmount |
On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. | text | 5.20 | percentItemType | text: <entity> 5.20 </entity> <entity type> percentItemType </entity type> <context> On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. | text | 100000000 | monetaryItemType | text: <entity> 100000000 </entity> <entity type> monetaryItemType </entity type> <context> On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. </context> | us-gaap:DebtInstrumentFaceAmount |
On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. | text | 6.60 | percentItemType | text: <entity> 6.60 </entity> <entity type> percentItemType </entity type> <context> On September 24, 2024, a joint venture, in which we have a 49.9 % interest, modified the terms of the $ 625,000,000 mortgage loan on 85 Tenth Avenue. Per the original loan agreement, the mortgage loan is comprised of a (i) $ 396,000,000 3.82 % senior note, (ii) $ 129,000,000 5.20 % mezzanine A note and (iii) $ 100,000,000 6.60 % mezzanine B note. The modification provides for the interest payments due under the mezzanine notes to be deferred until the December 2026 loan maturity. The deferred amounts will not accrue additional interest. The cash available from the deferred interest payments will be used to fund leasing costs at the property. At loan maturity, if there is no event of default, repayment of 50 % of the accrued mezzanine interest will be waived. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
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 |
2024 includes our $ 31,215 share of the debt extinguishment gain from the repayment of the 280 Park Avenue mezzanine loan. See page 89 for details. | text | 31215 | monetaryItemType | text: <entity> 31215 </entity> <entity type> monetaryItemType </entity type> <context> 2024 includes our $ 31,215 share of the debt extinguishment gain from the repayment of the 280 Park Avenue mezzanine loan. See page 89 for details. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
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> 2022 includes $ 17,185 of net gains from dispositions of two investments. </context> | us-gaap:GainLossOnDispositionOfAssets1 |
On August 6, 2024, we purchased a $ 50,000,000 B-Note secured by a Midtown Manhattan property at par. The B-Note, together with the $ 35,000,000 A-Note, is in default. The B-Note accrues interest at 5.25 % plus 4.00 % default interest. The $ 50,000,000 B-Note investment was recorded to “other assets” on our consolidated balance sheets. | text | 50000000 | monetaryItemType | text: <entity> 50000000 </entity> <entity type> monetaryItemType </entity type> <context> On August 6, 2024, we purchased a $ 50,000,000 B-Note secured by a Midtown Manhattan property at par. The B-Note, together with the $ 35,000,000 A-Note, is in default. The B-Note accrues interest at 5.25 % plus 4.00 % default interest. The $ 50,000,000 B-Note investment was recorded to “other assets” on our consolidated balance sheets. </context> | us-gaap:NotesReceivableGross |
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