| Schedule of Investments in Partially Owned Entities |
Below is a schedule summarizing our investments in partially owned entities. | | | | | | | | | | | | | | | | | | | (Amounts in thousands) | Percentage Ownership as of September 30, 2026 | | Balance as of | | | September 30, 2026 | | December 31, 2025 | | Investments: | | | | | | Fifth Avenue and Times Square JV (see page 22 for details) | 51.5% | | $ | 1,531,737 | | | $ | 1,538,141 | | Partially owned office buildings/land(1) | Various | | 417,671 | | | 148,958 | | Alexander's (see page 22 for details): | 32.4% | | 84,267 | | | 47,276 | | Other investments(2) | Various | | 210,495 | | | 206,903 | | | | | $ | 2,244,170 | | | $ | 1,941,278 | | Investments in partially owned entities included in other liabilities(3): | | | | | | | 7 West 34th Street | 53.0% | | $ | (44,659) | | | $ | (65,726) | | | 85 Tenth Avenue | 49.9% | | (29,221) | | | (25,198) | | | | | $ | (73,880) | | | $ | (90,924) | |
____________________ (1)Includes interests in 280 Park Avenue, Park Avenue Plaza (acquired June 2026), 61 Ninth Avenue and others. (2)Includes interests in Independence Plaza, Sunset Pier 94 Joint Venture (“Pier 94 JV”), Rosslyn Plaza and others. (3)Our negative basis results from distributions in excess of our investment. 5. Investments in Partially Owned Entities - continued Below is a schedule of income from partially owned entities. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in thousands) | Percentage Ownership as of September 30, 2026 | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | | | 2026 | | 2025 | | 2026 | | 2025 | | | Our share of net income (loss): | | | | | | | | | | | Fifth Avenue and Times Square JV (see page 22 for details): | | | | | | | | | | | | Equity in net income | 51.5% | | $ | 3,652 | | | $ | 2,286 | | | $ | 13,588 | | | $ | 11,772 | | | | Return on preferred equity, net of our share of the expense | | | 6,241 | | | 6,241 | | | 18,519 | | | 21,287 | | | | Net gain on sale | | | — | | | — | | | — | | | 76,162 | | | | | | 9,893 | | | 8,527 | | | 32,107 | | | 109,221 | | | Alexander's (see page 22 for details): | | | | | | | | | | | | Equity in net income | 32.4% | | 8,805 | | | 2,069 | | | 12,579 | | | 7,911 | | | | Management, leasing and development fees | | | 3,013 | | | 1,405 | | | 7,750 | | | 4,444 | | | | Net gain on sale | | | — | | | — | | | 44,329 | | | — | | | | | | 11,818 | | | 3,474 | | | 64,658 | | | 12,355 | | | | | | | | | | | | | | Partially owned office buildings(1) | Various | | (3,691) | | | 6,953 | | | (8,488) | | | 976 | | | | | | | | | | | | | | Other investments(2) | Various | | 5,298 | | | 2,986 | | | 11,058 | | | 13,036 | | | | | | | | | | | | | | | | | $ | 23,318 | | | $ | 21,940 | | | $ | 99,335 | | | $ | 135,588 | | |
____________________ (1)Includes interests in 280 Park Avenue, Park Avenue Plaza, 7 West 34th Street, 61 Ninth Avenue, 85 Tenth Avenue and others. (2)Includes interests in Independence Plaza, Pier 94 JV, Rosslyn Plaza and others.
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