v3.25.2
Revenue Recognition
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Below is a summary of our revenues by segment. Additional financial information related to these reportable segments for the three and six months ended June 30, 2025 and 2024 is set forth in Note 19 - Segment Information.
(Amounts in thousands)For the Three Months Ended June 30, 2025For the Three Months Ended June 30, 2024
TotalNew YorkOtherTotalNew YorkOther
Property rentals$360,167 $291,349 $68,818 $372,186 $302,780 $69,406 
Trade shows6,415 — 6,415 7,061 — 7,061 
Sales-type lease income(1)
1,594 1,594 — — — — 
Lease revenues(2)
368,176 292,943 75,233 379,247 302,780 76,467 
Tenant services9,084 6,506 2,578 9,604 6,373 3,231 
Parking revenues4,992 3,941 1,051 4,744 3,750 994 
Rental revenues
382,252 303,390 78,862 393,595 312,903 80,692 
BMS cleaning fees37,431 39,744 (2,313)
(3)
38,465 40,689 (2,224)
(3)
Management and leasing fees2,926 3,150 (224)6,709 6,911 (202)
Other income18,828 11,883 6,945 11,497 7,075 4,422 
Fee and other income
59,185 54,777 4,408 56,671 54,675 1,996 
Total revenues
$441,437 $358,167 $83,270 $450,266 $367,578 $82,688 
____________________
See notes below.
(Amounts in thousands)For the Six Months Ended June 30, 2025For the Six Months Ended June 30, 2024
TotalNew YorkOtherTotalNew YorkOther
Property rentals$742,681 $603,651 $139,030 $742,069 $604,311 $137,758 
Trade shows12,851 — 12,851 12,777 — 12,777 
Sales-type lease income(1)
1,594 1,594 — — — — 
Lease revenues(2)
757,126 605,245 151,881 754,846 604,311 150,535 
Tenant services20,019 14,679 5,340 18,632 12,920 5,712 
Parking revenues9,862 7,765 2,097 9,395 7,407 1,988 
Rental revenues
787,007 627,689 159,318 782,873 624,638 158,235 
BMS cleaning fees73,907 78,241 (4,334)
(3)
74,245 79,329 (5,084)
(3)
Management and leasing fees5,956 6,355 (399)9,320 9,623 (303)
Other income36,146 22,088 14,058 20,203 12,222 7,981 
Fee and other income
116,009 106,684 9,325 103,768 101,174 2,594 
Total revenues
$903,016 $734,373 $168,643 $886,641 $725,812 $160,829 
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(1)See page 24 for details.
(2)The components of lease revenues were as follows:
For the Three Months Ended June 30,For the Six Months Ended June 30,
2025202420252024
Fixed payments$341,263 $339,782 $690,139 $674,328 
Variable payments25,319 39,465 65,393 80,518 
Total operating lease payments366,582 379,247 755,532 754,846 
Sales-type lease income1,594 — 1,594 — 
Lease revenues$368,176 $379,247 $757,126 $754,846 
(3)Represents the elimination of Building Maintenance Services LLC ("BMS") cleaning fees related to THE MART and 555 California Street which are included as income in the New York segment.