Investments in Unconsolidated Ventures (Tables)

6 Months Ended

Jun. 30, 2026

Investments in Unconsolidated Ventures

Summary of investments in unconsolidated ventures


		Ownership Interest ^(a)				Carrying Value						Share of Earnings (Losses)/ Distributions					Share of Earnings (Losses)/ Distributions
		June 30,		December 31,		June 30,			December 31,			Three Months Ended June 30,					Six Months Ended June 30,
in thousands except percentages		2026		2025		2026			2025			2026		2025			2026		2025
Equity Method Investments
The Lawn Club ^(b)		50	%	50	%	$	3,866		$	2,569		$	489	$	779		$	(53)	$	621
Jean-Georges Restaurants		25	%	25	%		13,501			14,107			(183)		3			(605)		331
Investments in unconsolidated ventures						$	17,367		$	16,676		$	306	$	782		$	(658)	$	952

(a)	Ownership interests presented reflect the Company’s stated ownership interest, or if applicable, the Company’s final profit-sharing interest after receipt of any preferred returns based on the venture’s distribution priorities.

(b)

Various provisions in the venture operating agreements regarding distributions of cash flow based on capital account balances, allocations of profits and losses and preferred returns may result in the Company’s economic interest differing from its stated interest or final profit-sharing interest. The Company recognizes income or loss based on the venture’s distribution priorities, which could fluctuate over time and may be different from its stated ownership or final profit-sharing interest.