Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of components of segment net income (loss) for each segment

The following tables provide components of segment net income (loss) for each segment for the three and three months ended March 31, 2023 and 2022 (amounts in thousands):

	Three Months Ended March 31, 2023
	Real Estate		Observatory		Intersegment Elimination		Total
Revenues:
Rental revenue	$	140,091	$	—	$	—	$	140,091
Intercompany rental revenue	15,914		—		(15,914)		—
Observatory revenue	—		22,154		—		22,154
Third-party management and other fees	427		—		—		427
Other revenue and fees	1,950		—		—		1,950
Total revenues	158,382		22,154		(15,914)		164,622
Operating expenses:
Property operating expenses	42,044		—		—		42,044
Intercompany rent expense	—		15,914		(15,914)		—
Ground rent expenses	2,331		—		—		2,331
General and administrative expenses	15,708		—		—		15,708
Observatory expenses	—		7,855		—		7,855
Real estate taxes	31,788		—		—		31,788
Depreciation and amortization	47,364		44		—		47,408
Total operating expenses	139,235		23,813		(15,914)		147,134
Total operating income (loss)	19,147		(1,659)		—		17,488
Other income (expense):
Interest income	2,558		37		—		2,595
Interest expense	(25,304)		—		—		(25,304)
Gain on sale of property	15,696		—		—		15,696
Income (loss) before income taxes	12,097		(1,622)		—		10,475
Income tax (expense) benefit	(198)		1,417		—		1,219
Net income (loss)	$	11,899	$	(205)	$	—	$	11,694
Segment assets	$	3,903,661	$	253,702	$	—	$	4,157,363
Expenditures for segment assets	$	34,536	$	58	$	—	$	34,594

	Three Months Ended March 31, 2022
	Real Estate		Observatory		Intersegment Elimination		Total
Revenues:
Rental revenue	$	147,514	$	—	$	—	$	147,514
Intercompany rental revenue	10,620		—		(10,620)		—
Observatory revenue	—		13,241		—		13,241
Lease termination fees	1,173		—		—		1,173
Third-party management and other fees	310		—		—		310
Other revenue and fees	1,796		—		—		1,796
Total revenues	161,413		13,241		(10,620)		164,034
Operating expenses:
Property operating expenses	38,644		—		—		38,644
Intercompany rent expense	—		10,620		(10,620)		—
Ground rent expense	2,331		—		—		2,331
General and administrative expenses	13,686		—		—		13,686
Observatory expenses	—		6,215		—		6,215
Real estate taxes	30,004		—		—		30,004
Depreciation and amortization	67,071		35		—		67,106
Total operating expenses	151,736		16,870		(10,620)		157,986
Total operating income (loss)	9,677		(3,629)		—		6,048
Other income (expense):
Interest income	149		—		—		149
Interest expense	(25,014)		—		—		(25,014)
Loss before income taxes	(15,188)		(3,629)		—		(18,817)
Income tax (expense) benefit	(144)		1,740		—		1,596
Net loss	$	(15,332)	$	(1,889)	$	—	$	(17,221)
Segment assets	$	3,998,791	$	244,539	$	—	$	4,243,330
Expenditures for segment assets	$	38,884	$	291	$	—	$	39,175