v3.26.3
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Real estate, at cost:    
Land $ 2,357,135 $ 2,408,914
Buildings and improvements 11,138,348 10,942,418
Development costs and construction in progress 1,037,845 890,143
Leasehold improvements and equipment 110,729 105,080
Total 14,644,057 14,346,555
Less accumulated depreciation and amortization (4,534,751) (4,191,075)
Real estate, net 10,109,306 10,155,480
Right-of-use assets 667,270 671,308
Net investment in lease 166,672 166,024
Cash and cash equivalents 580,496 840,850
Restricted cash 143,339 136,696
Tenant and other receivables 110,269 77,137
Investments in partially owned entities 2,244,170 1,941,278
Receivable arising from the straight-lining of rents 828,287 752,545
Deferred leasing costs, net of accumulated amortization of $251,710 and $233,448 394,515 374,620
Identified intangible assets, net of accumulated amortization of $87,096 and $81,962 104,930 110,593
Other assets 288,911 294,587
Assets 15,638,165 15,521,118
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY    
Mortgages payable, net 4,847,467 4,920,669
Senior unsecured notes, net 842,276 747,202
Unsecured term loan, net 840,569 797,337
Unsecured revolving credit facilities 918,000 720,420
Lease liabilities 694,361 699,640
Accounts payable and accrued expenses 411,957 376,190
Deferred compensation plan 102,544 113,778
Other liabilities 327,943 341,359
Total liabilities 8,985,117 8,716,595
Commitments and contingencies
Redeemable noncontrolling interests:    
Total redeemable noncontrolling interests 633,175 647,951
Partners' equity:    
Earnings less than distributions (3,678,344) (3,491,603)
Accumulated other comprehensive income (loss) 36,890 (5)
Total shareholders' / partners' equity 5,845,987 5,986,727
Noncontrolling interests in consolidated subsidiaries 173,886 169,845
Total equity 6,019,873 6,156,572
Total liabilities, redeemable noncontrolling interests / partnership units and equity 15,638,165 15,521,118
Partnership Interest    
Redeemable noncontrolling interests:    
Class A units - 16,572,667 and 16,650,713 units outstanding 561,482 554,136
Series D cumulative redeemable preferred units - 141,400 units outstanding 3,535 3,535
Total redeemable noncontrolling interests 565,017 557,671
Redeemable noncontrolling interest in a consolidated subsidiary    
Redeemable noncontrolling interests:    
Total redeemable noncontrolling interests 68,158 90,280
Vornado Realty L.P.    
Real estate, at cost:    
Land 2,357,135 2,408,914
Buildings and improvements 11,138,348 10,942,418
Development costs and construction in progress 1,037,845 890,143
Leasehold improvements and equipment 110,729 105,080
Total 14,644,057 14,346,555
Less accumulated depreciation and amortization (4,534,751) (4,191,075)
Real estate, net 10,109,306 10,155,480
Right-of-use assets 667,270 671,308
Net investment in lease 166,672 166,024
Cash and cash equivalents 580,496 840,850
Restricted cash 143,339 136,696
Tenant and other receivables 110,269 77,137
Investments in partially owned entities 2,244,170 1,941,278
Receivable arising from the straight-lining of rents 828,287 752,545
Deferred leasing costs, net of accumulated amortization of $251,710 and $233,448 394,515 374,620
Identified intangible assets, net of accumulated amortization of $87,096 and $81,962 104,930 110,593
Other assets 288,911 294,587
Assets 15,638,165 15,521,118
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY    
Mortgages payable, net 4,847,467 4,920,669
Senior unsecured notes, net 842,276 747,202
Unsecured term loan, net 840,569 797,337
Unsecured revolving credit facilities 918,000 720,420
Lease liabilities 694,361 699,640
Accounts payable and accrued expenses 411,957 376,190
Deferred compensation plan 102,544 113,778
Other liabilities 327,943 341,359
Total liabilities 8,985,117 8,716,595
Commitments and contingencies
Redeemable noncontrolling interests:    
Total redeemable noncontrolling interests 633,175 647,951
Partners' equity:    
Partners' capital 9,487,441 9,478,335
Earnings less than distributions (3,678,344) (3,491,603)
Accumulated other comprehensive income (loss) 36,890 (5)
Total shareholders' / partners' equity 5,845,987 5,986,727
Noncontrolling interests in consolidated subsidiaries 173,886 169,845
Total equity 6,019,873 6,156,572
Total liabilities, redeemable noncontrolling interests / partnership units and equity 15,638,165 15,521,118
Vornado Realty L.P. | Partnership Interest    
Redeemable noncontrolling interests:    
Class A units - 16,572,667 and 16,650,713 units outstanding 561,482 554,136
Series D cumulative redeemable preferred units - 141,400 units outstanding 3,535 3,535
Total redeemable noncontrolling interests 565,017 557,671
Vornado Realty L.P. | Redeemable noncontrolling interest in a consolidated subsidiary    
Redeemable noncontrolling interests:    
Total redeemable noncontrolling interests $ 68,158 $ 90,280