The Company engaged in transactions with CCMC and Jean-Georges Restaurants and generates rental revenue by leasing space to equity method investees, which are related parties, as described below.

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Related-Party Management Fees and Transition Services

As discussed in Note 2 – Investments in Unconsolidated Ventures – Jean-Georges Restaurants, CCMC, a wholly owned indirect subsidiary of JG, which is a related party of the Company, also provided management services for certain of the Company’s retail and food and beverage businesses, either wholly owned or through partnerships with third parties through June 30, 2025. The Company’s businesses managed by CCMC included, but were not limited to, locations such as The Tin Building by Jean-Georges, The Fulton, and Malibu Farm. On July 1, 2025, an indirect subsidiary of the Company provided notice to CCMC terminating certain management agreements between CCMC and affiliates of the Company. As a result, the Services Agreement was terminated pursuant to its terms. The Company’s related-party management fees due to CCMC amounted to zero, during each of the three and six month periods ended June 30, 2026, respectively, and $0.4 million and $1.5 million during the three and six months ended June 30, 2025, respectively.

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On June 30, 2025, indirect subsidiaries of the Company and wholly owned subsidiaries of JG entered into license agreements with respect to the license of certain intellectual property of JG for the Tin Building by Jean-Georges and the Fulton Restaurant (collectively, the “License Agreements”). Related party license fees related to the License Agreements with a wholly owned subsidiary of JG for the three and six months ended June 30, 2026 were $0.1 million and $0.5 million, respectively.

In connection with the Separation, the Company entered into a transition services agreement with HHH that provided for the performance of certain services by HHH for our benefit through 2025. During the three and six months ended June 30, 2025, the Company recorded expenses of $0.1 million and $0.1 million, respectively, related to this transition services agreement with HHH within general and administrative expenses.

In connection with and prior to the Separation, on July 31, 2024, the variable rate mortgage related to 250 Water Street was refinanced. Pursuant to the terms of the refinanced loan, we entered into a total return swap with the lender. See Note 4 – Mortgages Payable, Net for additional information. Our obligations under such total return swap are in turn supported by a guaranty provided by a subsidiary of HHH.  In consideration of providing such guarantee, the Company entered into an Indemnity Fee Agreement with HHH and paid an annual guaranty fee equal to 2.0% of the $61.3 million refinanced debt balance. The Company capitalized $0.3 million and $0.6 million of such fees to Net investment in real estate in the three  and six months ended June 30, 2025, respectively. The Company expensed zero and $0.1 million of such fees to interest expense during the three and six months ended June 30, 2026, respectively, as capitalization ceased following debt classification as related to assets held for sale. In February 2026, the mortgage loan on 250 Water Street was paid off and the Indemnity Fee Agreement was terminated.

As discussed in Note 2 – Investments in Unconsolidated Ventures – The Lawn Club, the Company and Endorphin Ventures entered into a sub-management agreement, effective January 1, 2026, whereby the Company provides sub-management services to the venture. The Company earned $0.1 million and $0.2 million in fees associated with this sub-management agreement for the three and six months ended June 30, 2026, respectively.

Related-party Rental Revenue

The Company owns the real estate assets that are leased by the Lawn Club. As discussed in Note 2 – Investments in Unconsolidated Ventures, the Company owns a noncontrolling interest in this venture and accounts for its interests in accordance with the equity method.

The Consolidated Balance Sheets reflect accounts receivable generated by rental revenue earned by the Company of $0.2 million due from the Lawn Club as of June 30, 2026 and $0.3 million due from the Lawn Club as of December 31, 2025.

During the three months ended June 30, 2026 and 2025, rental revenue associated with the Lawn Club was $0.3 million and $0.3 million, respectively. During the six months ended June 30, 2026 and 2025 rental revenue associated with the Lawn Club was $0.5 million and $0.5 million, respectively.

Related-party Other Receivables

As of June 30, 2026 and December 31, 2025, the Consolidated Balance Sheets include a $1.2 million and $0.6 million receivable, respectively, mainly related to operating expenses to be reimbursed by the Lawn Club venture.