Vornado Realty (VNOD) 10-K 12 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-11954
Entity Registrant Name	Vornado Realty Trust
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	22-1657560
Entity Address, Address Line One	888 Seventh Avenue,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	(212)
Local Phone Number	894-7000
Title of 12(g) Security	Series A Convertible Preferred Shares of beneficial interest, liquidation preference $50.00 per share
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float		$ 3,196,914
Entity Common Stock, Shares Outstanding	190,390,703
Documents Incorporated by Reference	Part III : Portions of Proxy Statement for Annual Meeting of Vornado Realty Trust’s Shareholders to be held on May 23, 2024.
Entity Central Index Key	0000899689
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Shares of beneficial interest, $.04 par value per share
Entity Information [Line Items]
Title of 12(b) Security	Common Shares of beneficial interest, $.04 par value per share
Trading Symbol	VNO
Security Exchange Name	NYSE
5.40% Series L
Entity Information [Line Items]
Title of 12(b) Security	5.40% Series L
Trading Symbol	VNO/PL
Security Exchange Name	NYSE
5.25% Series M
Entity Information [Line Items]
Title of 12(b) Security	5.25% Series M
Trading Symbol	VNO/PM
Security Exchange Name	NYSE
5.25% Series N
Entity Information [Line Items]
Title of 12(b) Security	5.25% Series N
Trading Symbol	VNO/PN
Security Exchange Name	NYSE
4.45% Series O
Entity Information [Line Items]
Title of 12(b) Security	4.45% Series O
Trading Symbol	VNO/PO
Security Exchange Name	NYSE
Vornado Realty L.P.
Entity Information [Line Items]
Entity File Number	001-34482
Entity Registrant Name	VORNADO REALTY LP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3925979
Title of 12(g) Security	Class A Units of Limited Partnership Interest
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float		$ 217,739
Entity Central Index Key	0001040765

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor [Line Items]
Auditor Firm ID	34
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	New York, New York
Vornado Realty L.P.
Auditor [Line Items]
Auditor Firm ID	34
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	New York, New York

Consolidated Balance Sheets (VN

Consolidated Balance Sheets (VNO) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real estate, at cost:
Land	$ 2,436,221	$ 2,451,828
Buildings and improvements	9,952,954	9,804,204
Development costs and construction in progress	1,281,076	933,334
Leasehold improvements and equipment	130,953	125,389
Total	13,801,204	13,314,755
Less accumulated depreciation and amortization	(3,752,827)	(3,470,991)
Real estate, net	10,048,377	9,843,764
Right-of-use assets	680,044	684,380
Cash and cash equivalents	997,002	889,689
Restricted cash	264,582	131,468
Investments in U.S. Treasury bills	0	471,962
Tenant and other receivables	69,543	81,170
Investments in partially owned entities	2,610,558	2,665,073
220 Central Park South condominium units ready for sale	35,941	43,599
Receivable arising from the straight-lining of rents	701,666	694,972
Deferred leasing costs, net of accumulated amortization of $249,347 and $237,395	355,010	373,555
Identified intangible assets, net of accumulated amortization of $98,589 and $98,139	127,082	139,638
Other assets	297,860	474,105
Assets	16,187,665	16,493,375
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Mortgages payable, net	5,688,020	5,829,018
Senior unsecured notes, net	1,193,873	1,191,832
Unsecured term loan, net	794,559	793,193
Unsecured revolving credit facilities	575,000	575,000
Lease liabilities	732,859	735,969
Accounts payable and accrued expenses	411,044	450,881
Deferred revenue	32,199	39,882
Deferred compensation plan	105,245	96,322
Other liabilities	311,132	268,166
Total liabilities	9,843,931	9,980,263
Commitments and contingencies
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	638,448	436,732
Partners' equity:
Preferred shares of beneficial interest: no par value per share; authorized 110,000,000 shares; issued and outstanding 48,792,902 shares	1,182,459	1,182,459
Common shares of beneficial interest: $0.04 par value per share; authorized 250,000,000 shares; issued and outstanding 190,390,703 and 191,866,880 shares	7,594	7,654
Additional capital	8,263,291	8,369,228
Earnings less than distributions	(4,009,395)	(3,894,580)
Accumulated other comprehensive income	65,115	174,967
Total shareholders' equity	5,509,064	5,839,728
Noncontrolling interests in consolidated subsidiaries	196,222	236,652
Total equity	5,705,286	6,076,380
Total liabilities, redeemable noncontrolling interests / partnership units and equity	16,187,665	16,493,375
Partnership Interest
Redeemable noncontrolling interests:
Class A units - 17,000,030 and 14,416,891 units outstanding	480,251	345,157
Series D cumulative redeemable preferred units - 141,400 units outstanding	3,535	3,535
Total redeemable noncontrolling interests	483,786	348,692
Redeemable noncontrolling interest in a consolidated subsidiary
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	$ 154,662	$ 88,040

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) (VNO) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Deferred leasing costs, accumulated amortization	$ 249,347	$ 237,395
Identified intangible assets, accumulated amortization	$ 98,589	$ 98,139
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Preferred shares of beneficial interest: authorized shares (in shares)	110,000,000	110,000,000
Preferred shares of beneficial interest: issued shares (in shares)	48,792,902	48,792,902
Preferred shares of beneficial interest: outstanding shares (in shares)	48,792,902	48,792,902
Common shares of beneficial interest: par value per share (in dollars per share)	$ 0.04	$ 0.04
Common shares of beneficial interest: authorized shares (in shares)	250,000,000	250,000,000
Common shares of beneficial interest: issued shares (in shares)	190,390,703	191,866,880
Common shares of beneficial interest: outstanding shares (in shares)	190,390,703	191,866,880
Class A Unit
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Class A units outstanding, that were held by third parties (in shares)	17,000,030	14,416,891
Series D Cumulative Redeemable Preferred Unit
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Class A units outstanding, that were held by third parties (in shares)	141,400	141,400

Consolidated Statements of Inco

Consolidated Statements of Income (VNO) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUES:
Total revenues	$ 1,811,163	$ 1,799,995	$ 1,589,210
EXPENSES:
Operating	(905,158)	(873,911)	(797,315)
Depreciation and amortization	(434,273)	(504,502)	(412,347)
General and administrative	(162,883)	(133,731)	(134,545)
(Expense) benefit from deferred compensation plan liability	(12,162)	9,617	(9,847)
Impairment losses, transaction related costs and other	(50,691)	(31,722)	(13,815)
Total expenses	(1,565,167)	(1,534,249)	(1,367,869)
Income (loss) from partially owned entities	38,689	(461,351)	130,517
Income from real estate fund investments	1,590	3,541	11,066
Interest and other investment income, net	41,697	19,869	4,612
Income (loss) from deferred compensation plan assets	12,162	(9,617)	9,847
Interest and debt expense	(349,223)	(279,765)	(231,096)
Net gains on disposition of wholly owned and partially owned assets	71,199	100,625	50,770
Income (loss) before income taxes	62,110	(360,952)	197,057
Income tax (expense) benefit	(29,222)	(21,660)	10,496
Net income (loss)	32,888	(382,612)	207,553
Less net loss (income) attributable to noncontrolling interests in:
Consolidated subsidiaries	75,967	5,737	(24,014)
Operating Partnership	(3,361)	30,376	(7,540)
Net income (loss) attributable to Vornado / Vornado Realty L.P.	105,494	(346,499)	175,999
Preferred share dividends	(62,116)	(62,116)	(65,880)
Series K preferred share issuance costs	0	0	(9,033)
Net income (loss) attributable to common shareholders/Class A unitholders	$ 43,378	$ (408,615)	$ 101,086
INCOME (LOSS) PER COMMON SHARE - BASIC:
Net income (loss) per common share (in dollars per share)	$ 0.23	$ (2.13)	$ 0.53
Weighted average shares outstanding (in shares)	191,005	191,775	191,551
INCOME (LOSS) PER COMMON SHARE - DILUTED:
Net income (loss) per common share (in dollars per share)	$ 0.23	$ (2.13)	$ 0.53
Weighted average shares outstanding (in shares)	191,856	191,775	192,122
Rental revenues
REVENUES:
Total revenues	$ 1,607,486	$ 1,607,685	$ 1,424,531
Fee and other income
REVENUES:
Total revenues	$ 203,677	$ 192,310	$ 164,679

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (VNO) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 32,888	$ (382,612)	$ 207,553
Other comprehensive (loss) income:
Change in fair value of interest rate swaps and other	(112,051)	190,493	51,338
Other comprehensive (loss) income of nonconsolidated subsidiaries	(8,286)	18,874	10,275
Comprehensive (loss) income	(87,449)	(173,245)	269,166
Less comprehensive loss (income) attributable to noncontrolling interests	85,665	19,247	(35,602)
Comprehensive (loss) income attributable to Vornado / Vornado Realty L.P.	$ (1,784)	$ (153,998)	$ 233,564

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (VNO) - USD ($) $ in Thousands	Total	Series O Preferred Stock	Series K Preferred Stock	Preferred Shares	Preferred Shares Series O Preferred Stock	Preferred Shares Series K Preferred Stock	Common Shares	Additional Capital	Earnings Less Than Distributions	Earnings Less Than Distributions Series K Preferred Stock	Accumulated Other Comprehensive (Loss) Income	Non- controlling Interests in Consolidated Subsidiaries
Beginning balance (in shares) at Dec. 31, 2020				48,793,000
Beginning balance at Dec. 31, 2020	$ 6,948,155			$ 1,182,339			$ 7,633	$ 8,192,507	$ (2,774,182)		$ (75,099)	$ 414,957
Beginning balance (in shares) at Dec. 31, 2020							191,355,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	175,999								175,999
Net income (loss) attributable to nonredeemable noncontrolling interests in consolidated subsidiaries	20,826											20,826
Dividends on common shares	(406,109)								(406,109)
Dividends/distributions on preferred shares/units (see Note 11 for dividends per share amounts)	(65,880)								(65,880)
Series O cumulative redeemable preferred shares issuance (in shares)					12,000,000
Series O cumulative redeemable preferred shares issuance		$ 291,153			$ 291,153
Common shares issued:
Upon redemption of redeemable Class A units, at redemption value, (in shares)							350,000
Upon redemption of redeemable Class A units, at redemption value	14,576						$ 14	14,562
Under employees' share option plan (in shares)							1,000
Under employees' share option plan	22							22
Under dividend reinvestment plan (in shares)							21,000
Under dividend reinvestment plan	877						$ 1	876
Contributions	4,052											4,052
Distributions	(160,975)											(160,975)
Conversion of Series A preferred shares to common shares (in shares)							1,000
Conversion of Series A preferred shares to common shares	0			(13)				13
Deferred compensation shares and options (in shares)							(4,000)
Deferred compensation shares and options	792							906	(114)
Other comprehensive loss of nonconsolidated subsidiaries	10,275										10,275
Change in fair value of interest rate swaps and other	51,337										51,337
Unearned Out-Performance Plan awards acceleration	10,283							10,283
Redeemable Class A unit measurement adjustment	(76,073)							(76,073)
Series K cumulative redeemable preferred shares called for redemption (in shares)						(12,000,000)
Series K cumulative redeemable preferred shares/units called for redemption			$ (300,000)			$ (290,967)				$ (9,033)
Noncontrolling interests' share of other comprehensive income (loss)	(4,048)										(4,048)
Other	(24)			$ (53)				(3)	(1)		1	32
Ending balance (in shares) at Dec. 31, 2021				48,793,000
Ending balance at Dec. 31, 2021	6,515,238			$ 1,182,459			$ 7,648	8,143,093	(3,079,320)		(17,534)	278,892
Ending balance (in shares) at Dec. 31, 2021							191,724,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	(346,499)								(346,499)
Net income (loss) attributable to nonredeemable noncontrolling interests in consolidated subsidiaries	3,931											3,931
Dividends on common shares	(406,562)								(406,562)
Dividends/distributions on preferred shares/units (see Note 11 for dividends per share amounts)	(62,116)								(62,116)
Common shares issued:
Upon redemption of redeemable Class A units, at redemption value, (in shares)							117,000
Upon redemption of redeemable Class A units, at redemption value	3,524						$ 5	3,519
Under employees' share option plan	7							7
Under dividend reinvestment plan (in shares)							28,000
Under dividend reinvestment plan	878						$ 1	877
Contributions	5,609											5,609
Distributions	(54,388)											(54,388)
Deferred compensation shares and options (in shares)							(2,000)
Deferred compensation shares and options	503							588	(85)
Other comprehensive loss of nonconsolidated subsidiaries	18,874										18,874
Change in fair value of interest rate swaps and other	190,494										190,494
Redeemable Class A unit measurement adjustment	221,145							221,145
Noncontrolling interests' share of other comprehensive income (loss)	(14,250)										(16,866)	2,616
Other	$ (8)							(1)	2		(1)	(8)
Ending balance (in shares) at Dec. 31, 2022	48,792,902			48,793,000
Ending balance at Dec. 31, 2022	$ 6,076,380			$ 1,182,459			$ 7,654	8,369,228	(3,894,580)		174,967	236,652
Ending balance (in shares) at Dec. 31, 2022	191,866,880						191,867,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	$ 105,494								105,494
Net income (loss) attributable to nonredeemable noncontrolling interests in consolidated subsidiaries	(36,582)											(36,582)
Dividends on common shares	(129,066)								(129,066)
Dividends/distributions on preferred shares/units (see Note 11 for dividends per share amounts)	(62,116)								(62,116)
Common shares issued:
Upon redemption of redeemable Class A units, at redemption value, (in shares)							539,000
Upon redemption of redeemable Class A units, at redemption value	8,489						$ 21	8,468
Under dividend reinvestment plan (in shares)							11,000
Under dividend reinvestment plan	146							146
Contributions	24,033											24,033
Distributions	(21,526)											(21,526)
Deferred compensation shares and options (in shares)							(2,000)
Deferred compensation shares and options	296							321	(25)
Repurchase of common shares (in shares)							(2,024,000)
Repurchase of common shares	(29,183)						$ (81)		(29,102)
Other comprehensive loss of nonconsolidated subsidiaries	(8,286)										(8,286)
Change in fair value of interest rate swaps and other	(112,051)										(112,051)
Unearned Out-Performance Plan awards acceleration	20,668							20,668
Redeemable Class A unit measurement adjustment	(138,114)							(135,540)			(2,574)
Noncontrolling interests' share of other comprehensive income (loss)	9,340										13,059	(3,719)
Deconsolidation of partially owned entity	$ (2,636)											(2,636)
Ending balance (in shares) at Dec. 31, 2023	48,792,902			48,793,000
Ending balance at Dec. 31, 2023	$ 5,705,286			$ 1,182,459			$ 7,594	$ 8,263,291	$ (4,009,395)		$ 65,115	$ 196,222
Ending balance (in shares) at Dec. 31, 2023	190,390,703						190,391,000

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) (VNO) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common shares, dividends (in dollars per share)	$ 0.675	$ 2.12	$ 2.12

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (VNO) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities:
Net income (loss)	$ 32,888	$ (382,612)	$ 207,553
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization (including amortization of deferred financing costs)	457,574	526,306	432,594
Distributions of income from partially owned entities	172,873	184,501	214,521
Net gains on disposition of wholly owned and partially owned assets	(71,199)	(100,625)	(50,770)
Real estate impairment losses	45,007	19,098	7,880
Stock-based compensation expense	43,201	29,249	38,329
Equity in net (income) loss of partially owned entities	(38,689)	461,351	(130,517)
Change in deferred tax liability	17,020	14,005	11,243
Amortization of interest rate cap premiums	10,989	430	11
Straight-lining of rents	(8,808)	(46,177)	8,644
Credit losses on investments	8,269	0	0
Amortization of below-market leases, net	(5,268)	(5,178)	(9,249)
Net realized and unrealized (gain) loss on real estate fund investments	(1,861)	2,589	(4,621)
Return of capital from real estate fund investments	1,861	5,141	5,104
Write-off of lease receivables deemed uncollectible	1,008	872	7,695
Defeasance cost in connection with refinancing of mortgage payable	0	0	23,729
Other non-cash adjustments	8,866	2,660	(3,886)
Changes in operating assets and liabilities:
Real estate fund investments	0	0	(4,474)
Tenant and other receivables	9,379	(4,437)	(187)
Prepaid assets	(12,854)	104,186	30,466
Other assets	(79,110)	(34,615)	(54,716)
Lease liabilities	17,582	15,658	(4,091)
Accounts payable and accrued expenses	10,723	5,718	35,856
Other liabilities	28,701	824	692
Net cash provided by operating activities	648,152	798,944	761,806
Cash Flows from Investing Activities:
Development costs and construction in progress	(552,701)	(737,999)	(585,940)
Proceeds from maturities of U.S. Treasury bills	468,598	597,499	0
Additions to real estate	(211,899)	(159,796)	(149,461)
Proceeds from sales of real estate	123,519	373,264	100,024
Proceeds from repayment of participation in 150 West 34th Street mortgage loan	105,000	0	0
Investments in partially owned entities	(57,297)	(33,172)	(14,997)
Acquisitions of real estate and other	(33,145)	(3,000)	(3,000)
Proceeds from sale of condominium units at 220 Central Park South	24,484	88,019	137,404
Distributions of capital from partially owned entities	18,869	34,417	106,005
Deconsolidation of cash and restricted cash held by a previously consolidated entity	(14,216)	0	0
Purchase of U.S. Treasury bills	0	(1,066,096)	0
Acquisition of additional 45.0% ownership interest in One Park Avenue (inclusive of $5,806 of prorations and net working capital and net of $39,370 of cash and restricted cash balances consolidated upon acquisition)	0	0	(123,936)
Proceeds from repayments of loans receivable	0	0	1,554
Net cash used in investing activities	(128,788)	(906,864)	(532,347)
Cash Flows from Financing Activities:
Repayments of borrowings	(148,000)	(1,251,373)	(1,584,243)
Contributions from noncontrolling interests	132,701	5,609	4,052
Dividends paid on common shares	(129,066)	(406,562)	(406,109)
Dividends paid on preferred shares	(62,116)	(62,116)	(65,880)
Distributions to noncontrolling interests	(38,970)	(84,699)	(190,876)
Repurchase of common shares	29,183	0	0
Deferred financing costs	(4,424)	(32,706)	(51,184)
Proceeds received from exercise of employee share options and other	146	885	899
Repurchase of shares related to stock compensation agreements and related tax withholdings and other	(25)	(85)	(1,567)
Proceeds from borrowings	0	1,029,773	3,248,007
Purchase of marketable securities in connection with defeasance of mortgage payable	0	0	(973,729)
Redemption of preferred shares	0	0	(300,000)
Proceeds from the issuance of preferred shares	0	0	291,153
Net cash used in financing activities	(278,937)	(801,274)	(29,477)
Net increase (decrease) in cash and cash equivalents and restricted cash	240,427	(909,194)	199,982
Cash and cash equivalents and restricted cash at beginning of period	1,021,157	1,930,351	1,730,369
Cash and cash equivalents and restricted cash at end of period	1,261,584	1,021,157	1,930,351
Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period	889,689	1,760,225	1,624,482
Restricted cash at beginning of period	131,468	170,126	105,887
Cash and cash equivalents and restricted cash at beginning of period	1,021,157	1,930,351	1,730,369
Cash and cash equivalents at end of period	997,002	889,689	1,760,225
Restricted cash at end of period	264,582	131,468	170,126
Cash and cash equivalents and restricted cash at end of period	1,261,584	1,021,157	1,930,351
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest (excluding capitalized interest) and interest rate cap premiums	381,410	252,371	188,587
Cash payments for income taxes	10,365	7,947	9,155
Non-Cash Information:
Redeemable Class A unit measurement adjustment	(138,114)	221,145	(76,073)
Change in fair value of consolidated interest rate hedges and other	(112,051)	190,494	51,337
Write-off of fully depreciated assets	(82,343)	(278,561)	(123,537)
Accrued capital expenditures included in accounts payable and accrued expenses	52,091	104,750	291,690
Initial investment in Pier 94 joint venture upon contribution of leasehold interest	50,090	0	0
Decrease in assets and liabilities resulting from the deconsolidation of Pier 94:
Real estate	21,693	0	0
Right-of-use assets	7,081	0	0
Lease liabilities	(20,692)	0	0
Additional estimated lease liability arising from the recognition of right-of-use asset	0	350,000	0
Reclassification of condominium units from "development costs and construction in progress" to "220 Central Park South condominium units ready for sale"	0	32,604	16,014
Reclassification of assets held for sale (included in "other assets")	0	0	80,005
Increase in assets and liabilities resulting from the consolidation of One Park Avenue:
Marketable securities transferred in connection with the defeasance of mortgage payable	0	0	(973,729)
Defeasance of mortgage payable	0	0	950,000
One Park Avenue
Increase in assets and liabilities resulting from the consolidation of One Park Avenue:
Real estate	0	0	566,013
Identified intangible assets	0	0	139,545
Mortgages payable	0	0	525,000
Deferred revenue	$ 0	$ 0	$ 18,884

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parentheticals) (VNO) - One Park Avenue $ in Thousands	Dec. 31, 2021 USD ($)
Ownership interest	45%
Net working capital	$ 5,806
Cash and restricted cash	$ 39,370

Consolidated Balance Sheets (LP

Consolidated Balance Sheets (LP) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real estate, at cost:
Land	$ 2,436,221	$ 2,451,828
Buildings and improvements	9,952,954	9,804,204
Development costs and construction in progress	1,281,076	933,334
Leasehold improvements and equipment	130,953	125,389
Total	13,801,204	13,314,755
Less accumulated depreciation and amortization	(3,752,827)	(3,470,991)
Real estate, net	10,048,377	9,843,764
Right-of-use assets	680,044	684,380
Cash and cash equivalents	997,002	889,689
Restricted cash	264,582	131,468
Investments in U.S. Treasury bills	0	471,962
Tenant and other receivables	69,543	81,170
Investments in partially owned entities	2,610,558	2,665,073
220 Central Park South condominium units ready for sale	35,941	43,599
Receivable arising from the straight-lining of rents	701,666	694,972
Deferred leasing costs, net of accumulated amortization of $249,347 and $237,395	355,010	373,555
Identified intangible assets, net of accumulated amortization of $98,589 and $98,139	127,082	139,638
Other assets	297,860	474,105
Assets	16,187,665	16,493,375
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Mortgages payable, net	5,688,020	5,829,018
Senior unsecured notes, net	1,193,873	1,191,832
Unsecured term loan, net	794,559	793,193
Unsecured revolving credit facilities	575,000	575,000
Lease liabilities	732,859	735,969
Accounts payable and accrued expenses	411,044	450,881
Deferred revenue	32,199	39,882
Deferred compensation plan	105,245	96,322
Other liabilities	311,132	268,166
Total liabilities	9,843,931	9,980,263
Commitments and contingencies
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	638,448	436,732
Partners' equity:
Earnings less than distributions	(4,009,395)	(3,894,580)
Accumulated other comprehensive income	65,115	174,967
Total shareholders' equity	5,509,064	5,839,728
Noncontrolling interests in consolidated subsidiaries	196,222	236,652
Total equity	5,705,286	6,076,380
Total liabilities, redeemable noncontrolling interests / partnership units and equity	16,187,665	16,493,375
Partnership Interest
Redeemable noncontrolling interests:
Class A units - 17,000,030 and 14,416,891 units outstanding	480,251	345,157
Series D cumulative redeemable preferred units - 141,400 units outstanding	3,535	3,535
Total redeemable noncontrolling interests	483,786	348,692
Redeemable noncontrolling interest in a consolidated subsidiary
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	154,662	88,040
Vornado Realty L.P.
Real estate, at cost:
Land	2,436,221	2,451,828
Buildings and improvements	9,952,954	9,804,204
Development costs and construction in progress	1,281,076	933,334
Leasehold improvements and equipment	130,953	125,389
Total	13,801,204	13,314,755
Less accumulated depreciation and amortization	(3,752,827)	(3,470,991)
Real estate, net	10,048,377	9,843,764
Right-of-use assets	680,044	684,380
Cash and cash equivalents	997,002	889,689
Restricted cash	264,582	131,468
Investments in U.S. Treasury bills	0	471,962
Tenant and other receivables	69,543	81,170
Investments in partially owned entities	2,610,558	2,665,073
220 Central Park South condominium units ready for sale	35,941	43,599
Receivable arising from the straight-lining of rents	701,666	694,972
Deferred leasing costs, net of accumulated amortization of $249,347 and $237,395	355,010	373,555
Identified intangible assets, net of accumulated amortization of $98,589 and $98,139	127,082	139,638
Other assets	297,860	474,105
Assets	16,187,665	16,493,375
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Mortgages payable, net	5,688,020	5,829,018
Senior unsecured notes, net	1,193,873	1,191,832
Unsecured term loan, net	794,559	793,193
Unsecured revolving credit facilities	575,000	575,000
Lease liabilities	732,859	735,969
Accounts payable and accrued expenses	411,044	450,881
Deferred revenue	32,199	39,882
Deferred compensation plan	105,245	96,322
Other liabilities	311,132	268,166
Total liabilities	9,843,931	9,980,263
Commitments and contingencies
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	638,448	436,732
Partners' equity:
Partners' capital	9,453,344	9,559,341
Earnings less than distributions	(4,009,395)	(3,894,580)
Accumulated other comprehensive income	65,115	174,967
Total shareholders' equity	5,509,064	5,839,728
Noncontrolling interests in consolidated subsidiaries	196,222	236,652
Total equity	5,705,286	6,076,380
Total liabilities, redeemable noncontrolling interests / partnership units and equity	16,187,665	16,493,375
Vornado Realty L.P. | Partnership Interest
Redeemable noncontrolling interests:
Class A units - 17,000,030 and 14,416,891 units outstanding	480,251	345,157
Series D cumulative redeemable preferred units - 141,400 units outstanding	3,535	3,535
Total redeemable noncontrolling interests	483,786	348,692
Vornado Realty L.P. | Redeemable noncontrolling interest in a consolidated subsidiary
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	$ 154,662	$ 88,040

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Parentheticals) (LP) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Deferred leasing costs, accumulated amortization	$ 249,347	$ 237,395
Identified intangible assets, accumulated amortization	98,589	98,139
Vornado Realty L.P.
ASSETS
Deferred leasing costs, accumulated amortization	249,347	237,395
Identified intangible assets, accumulated amortization	$ 98,589	$ 98,139
Class A Unit
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Class A units outstanding, that were held by third parties (in shares)	17,000,030	14,416,891
Class A Unit | Vornado Realty L.P.
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Class A units outstanding, that were held by third parties (in shares)	17,000,030	14,416,891
Series D Cumulative Redeemable Preferred Unit
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Class A units outstanding, that were held by third parties (in shares)	141,400	141,400
Series D Cumulative Redeemable Preferred Unit | Vornado Realty L.P.
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Class A units outstanding, that were held by third parties (in shares)	141,400	141,400

Consolidated Statements of In_2

Consolidated Statements of Income (LP) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUES:
Total revenues	$ 1,811,163	$ 1,799,995	$ 1,589,210
EXPENSES:
Operating	(905,158)	(873,911)	(797,315)
Depreciation and amortization	(434,273)	(504,502)	(412,347)
General and administrative	(162,883)	(133,731)	(134,545)
(Expense) benefit from deferred compensation plan liability	(12,162)	9,617	(9,847)
Impairment losses, transaction related costs and other	(50,691)	(31,722)	(13,815)
Total expenses	(1,565,167)	(1,534,249)	(1,367,869)
Income (loss) from partially owned entities	38,689	(461,351)	130,517
Income from real estate fund investments	1,590	3,541	11,066
Interest and other investment income, net	41,697	19,869	4,612
Income (loss) from deferred compensation plan assets	12,162	(9,617)	9,847
Interest and debt expense	(349,223)	(279,765)	(231,096)
Net gains on disposition of wholly owned and partially owned assets	71,199	100,625	50,770
Income (loss) before income taxes	62,110	(360,952)	197,057
Income tax (expense) benefit	(29,222)	(21,660)	10,496
Net income (loss)	32,888	(382,612)	207,553
Less net loss (income) attributable to noncontrolling interests in consolidated subsidiaries	75,967	5,737	(24,014)
Net income (loss) attributable to Vornado / Vornado Realty L.P.	105,494	(346,499)	175,999
Preferred unit distributions	(62,116)	(62,116)	(65,880)
Series K preferred unit issuance costs	0	0	(9,033)
Net income (loss) attributable to common shareholders/Class A unitholders	43,378	(408,615)	101,086
Vornado Realty L.P.
REVENUES:
Total revenues	1,811,163	1,799,995	1,589,210
EXPENSES:
Operating	(905,158)	(873,911)	(797,315)
Depreciation and amortization	(434,273)	(504,502)	(412,347)
General and administrative	(162,883)	(133,731)	(134,545)
(Expense) benefit from deferred compensation plan liability	(12,162)	9,617	(9,847)
Impairment losses, transaction related costs and other	(50,691)	(31,722)	(13,815)
Total expenses	(1,565,167)	(1,534,249)	(1,367,869)
Income (loss) from partially owned entities	38,689	(461,351)	130,517
Income from real estate fund investments	1,590	3,541	11,066
Interest and other investment income, net	41,697	19,869	4,612
Income (loss) from deferred compensation plan assets	12,162	(9,617)	9,847
Interest and debt expense	(349,223)	(279,765)	(231,096)
Net gains on disposition of wholly owned and partially owned assets	71,199	100,625	50,770
Income (loss) before income taxes	62,110	(360,952)	197,057
Income tax (expense) benefit	(29,222)	(21,660)	10,496
Net income (loss)	32,888	(382,612)	207,553
Less net loss (income) attributable to noncontrolling interests in consolidated subsidiaries	75,967	5,737	(24,014)
Net income (loss) attributable to Vornado / Vornado Realty L.P.	108,855	(376,875)	183,539
Preferred unit distributions	(62,231)	(62,231)	(66,035)
Series K preferred unit issuance costs	0	0	(9,033)
Net income (loss) attributable to common shareholders/Class A unitholders	$ 46,624	$ (439,106)	$ 108,471
INCOME (LOSS) PER CLASS A UNIT - BASIC:
Net income (loss) per Class A unit (in dollars per unit)	$ 0.22	$ (2.15)	$ 0.52
Weighted average units outstanding (in shares)	205,105	205,315	204,728
INCOME (LOSS) PER CLASS A UNIT - DILUTED:
Net income (loss) per Class A unit (in dollars per unit)	$ 0.22	$ (2.15)	$ 0.51
Weighted average units outstanding (in shares)	205,956	205,315	205,644
Rental revenues
REVENUES:
Total revenues	$ 1,607,486	$ 1,607,685	$ 1,424,531
Rental revenues | Vornado Realty L.P.
REVENUES:
Total revenues	1,607,486	1,607,685	1,424,531
Fee and other income
REVENUES:
Total revenues	203,677	192,310	164,679
Fee and other income | Vornado Realty L.P.
REVENUES:
Total revenues	$ 203,677	$ 192,310	$ 164,679

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (LP) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net income (loss)	$ 32,888	$ (382,612)	$ 207,553
Other comprehensive (loss) income:
Change in fair value of interest rate swaps and other	(112,051)	190,493	51,338
Other comprehensive (loss) income of nonconsolidated subsidiaries	(8,286)	18,874	10,275
Comprehensive (loss) income	(87,449)	(173,245)	269,166
Less comprehensive loss (income) attributable to noncontrolling interests in consolidated subsidiaries	85,665	19,247	(35,602)
Comprehensive (loss) income attributable to Vornado / Vornado Realty L.P.	(1,784)	(153,998)	233,564
Vornado Realty L.P.
Net income (loss)	32,888	(382,612)	207,553
Other comprehensive (loss) income:
Change in fair value of interest rate swaps and other	(112,051)	190,493	51,338
Other comprehensive (loss) income of nonconsolidated subsidiaries	(8,286)	18,874	10,275
Comprehensive (loss) income	(87,449)	(173,245)	269,166
Less comprehensive loss (income) attributable to noncontrolling interests in consolidated subsidiaries	79,686	3,121	(24,014)
Comprehensive (loss) income attributable to Vornado / Vornado Realty L.P.	$ (7,763)	$ (170,124)	$ 245,152

Consolidated Statements of Ch_3

Consolidated Statements of Changes in Equity (LP) - USD ($) $ in Thousands	Total	Series O Preferred Stock	Series K Preferred Stock	Preferred Shares	Preferred Shares Series O Preferred Stock	Preferred Shares Series K Preferred Stock	Earnings Less Than Distributions	Earnings Less Than Distributions Series K Preferred Stock	Accumulated Other Comprehensive (Loss) Income	Non- controlling Interests in Consolidated Subsidiaries	Vornado Realty L.P.	Vornado Realty L.P. Series O Preferred Stock	Vornado Realty L.P. Series K Preferred Stock	Vornado Realty L.P. Preferred Shares	Vornado Realty L.P. Preferred Shares Series O Preferred Stock	Vornado Realty L.P. Preferred Shares Series K Preferred Stock	Vornado Realty L.P. Class A Units Owned by Vornado	Vornado Realty L.P. Earnings Less Than Distributions	Vornado Realty L.P. Earnings Less Than Distributions Series K Preferred Stock	Vornado Realty L.P. Accumulated Other Comprehensive (Loss) Income	Vornado Realty L.P. Non- controlling Interests in Consolidated Subsidiaries
Beginning balance (in shares) at Dec. 31, 2020				48,793,000										48,793,000
Beginning balance at Dec. 31, 2020	$ 6,948,155			$ 1,182,339			$ (2,774,182)		$ (75,099)	$ 414,957	$ 6,948,155			$ 1,182,339			$ 8,200,140	$ (2,774,182)		$ (75,099)	$ 414,957
Beginning balance (in shares) at Dec. 31, 2020																	191,355,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	175,999						175,999				183,539							183,539
Net income attributable to redeemable partnership units											(7,540)							(7,540)
Net income (loss) attributable to nonredeemable noncontrolling interests in consolidated subsidiaries	20,826									20,826	20,826										20,826
Distributions to Vornado											(406,109)							(406,109)
Dividends/distributions on preferred shares/units (see Note 11 for dividends per share amounts)	(65,880)						(65,880)				(65,880)							(65,880)
Series O cumulative redeemable preferred units issuance (in shares)					12,000,000										12,000,000
Series O cumulative redeemable preferred units issuance		$ 291,153			$ 291,153							$ 291,153			$ 291,153
Class A units issued to Vornado:
Upon redemption of redeemable Class A units, at redemption value, (in shares)																	350,000
Upon redemption of redeemable Class A units, at redemption value	14,576										14,576						$ 14,576
Under employees' share option plan (in shares)																	1,000
Under employees' share option plan	22										22						$ 22
Under dividend reinvestment plan (in shares)																	21,000
Under dividend reinvestment plan	877										877						$ 877
Contributions	4,052									4,052	4,052										4,052
Distributions	(160,975)									(160,975)	(160,975)										(160,975)
Conversion of Series A preferred units to Class A units (in shares)																	1,000
Conversion of Series A preferred units to Class A units	0			(13)							0			(13)			$ 13
Deferred compensation units and options (in shares)																	(4,000)
Deferred compensation units and options	792						(114)				792						$ 906	(114)
Other comprehensive (loss) income of nonconsolidated subsidiaries	10,275								10,275		10,275									10,275
Change in fair value of interest rate swaps and other											51,337									51,337
Unearned Out-Performance Plan awards acceleration	10,283										10,283						10,283
Redeemable Class A unit measurement adjustment	(76,073)										(76,073)						(76,073)
Series K cumulative redeemable preferred units called for redemption (in shares)						(12,000,000)										(12,000,000)
Series K cumulative redeemable preferred units called for redemption			$ (300,000)			$ (290,967)		$ (9,033)					$ (300,000)			$ (290,967)			$ (9,033)
Noncontrolling interests' share of other comprehensive income (loss)	(4,048)								(4,048)		(4,048)									(4,048)
Other	(24)			$ (53)			(1)		1	32	(24)			$ (53)			(3)	(1)		1	32
Ending balance (in shares) at Dec. 31, 2021				48,793,000										48,793,000
Ending balance at Dec. 31, 2021	6,515,238			$ 1,182,459			(3,079,320)		(17,534)	278,892	6,515,238			$ 1,182,459			$ 8,150,741	(3,079,320)		(17,534)	278,892
Ending balance (in shares) at Dec. 31, 2021																	191,724,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	(346,499)						(346,499)				(376,875)							(376,875)
Net income attributable to redeemable partnership units											30,376							30,376
Net income (loss) attributable to nonredeemable noncontrolling interests in consolidated subsidiaries	3,931									3,931	3,931										3,931
Distributions to Vornado											(406,562)							(406,562)
Dividends/distributions on preferred shares/units (see Note 11 for dividends per share amounts)	(62,116)						(62,116)				(62,116)							(62,116)
Class A units issued to Vornado:
Upon redemption of redeemable Class A units, at redemption value, (in shares)																	117,000
Upon redemption of redeemable Class A units, at redemption value	3,524										3,524						$ 3,524
Under employees' share option plan	7										7						$ 7
Under dividend reinvestment plan (in shares)																	28,000
Under dividend reinvestment plan	878										878						$ 878
Contributions	5,609									5,609	5,609										5,609
Distributions	(54,388)									(54,388)	(54,388)										(54,388)
Deferred compensation units and options (in shares)																	(2,000)
Deferred compensation units and options	503						(85)				503						$ 588	(85)
Other comprehensive (loss) income of nonconsolidated subsidiaries	18,874								18,874		18,874									18,874
Change in fair value of interest rate swaps and other											190,494									190,494
Redeemable Class A unit measurement adjustment	221,145										221,145						221,145
Noncontrolling interests' share of other comprehensive income (loss)	(14,250)								(16,866)	2,616	(14,250)									(16,866)	2,616
Other	$ (8)						2		(1)	(8)	(8)						(1)	2		(1)	(8)
Ending balance (in shares) at Dec. 31, 2022	48,792,902			48,793,000										48,793,000
Ending balance at Dec. 31, 2022	$ 6,076,380			$ 1,182,459			(3,894,580)		174,967	236,652	6,076,380			$ 1,182,459			$ 8,376,882	(3,894,580)		174,967	236,652
Ending balance (in shares) at Dec. 31, 2022	191,866,880																191,867,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	$ 105,494						105,494				108,855							108,855
Net income attributable to redeemable partnership units											(3,361)							(3,361)
Net income (loss) attributable to nonredeemable noncontrolling interests in consolidated subsidiaries	(36,582)									(36,582)	(36,582)										(36,582)
Distributions to Vornado											(129,066)							(129,066)
Dividends/distributions on preferred shares/units (see Note 11 for dividends per share amounts)	(62,116)						(62,116)				(62,116)							(62,116)
Class A units issued to Vornado:
Upon redemption of redeemable Class A units, at redemption value, (in shares)																	539,000
Upon redemption of redeemable Class A units, at redemption value	8,489										8,489						$ 8,489
Under dividend reinvestment plan (in shares)																	11,000
Under dividend reinvestment plan	146										146						$ 146
Contributions	24,033									24,033	24,033										24,033
Distributions	(21,526)									(21,526)	(21,526)										(21,526)
Deferred compensation units and options (in shares)																	(2,000)
Deferred compensation units and options	296						(25)				296						$ 321	(25)
Repurchase of common shares (in shares)																	(2,024,000)
Repurchase of Class A units owned by Vornado	(29,183)						(29,102)				(29,183)						$ (81)	(29,102)
Other comprehensive (loss) income of nonconsolidated subsidiaries	(8,286)								(8,286)		(8,286)									(8,286)
Change in fair value of interest rate swaps and other											(112,051)									(112,051)
Unearned Out-Performance Plan awards acceleration	20,668										20,668						20,668
Redeemable Class A unit measurement adjustment	(138,114)								(2,574)		(138,114)						(135,540)			(2,574)
Noncontrolling interests' share of other comprehensive income (loss)	9,340								13,059	(3,719)	9,340									13,059	(3,719)
Deconsolidation of partially owned entity	$ (2,636)									(2,636)	(2,636)										(2,636)
Ending balance (in shares) at Dec. 31, 2023	48,792,902			48,793,000										48,793,000
Ending balance at Dec. 31, 2023	$ 5,705,286			$ 1,182,459			$ (4,009,395)		$ 65,115	$ 196,222	$ 5,705,286			$ 1,182,459			$ 8,270,885	$ (4,009,395)		$ 65,115	$ 196,222
Ending balance (in shares) at Dec. 31, 2023	190,390,703																190,391,000

Consolidated Statements of Ch_4

Consolidated Statements of Changes in Equity (Parenthetical) (LP) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class A common units, dividends (in dollars per share)	$ 0.675	$ 2.12	$ 2.12
Vornado Realty L.P.
Class A common units, dividends (in dollars per share)	$ 0.675	$ 2.12	$ 2.12

Consolidated Statements of Ca_3

Consolidated Statements of Cash Flows (LP) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities:
Net income (loss)	$ 32,888	$ (382,612)	$ 207,553
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization (including amortization of deferred financing costs)	457,574	526,306	432,594
Distributions of income from partially owned entities	172,873	184,501	214,521
Net gains on disposition of wholly owned and partially owned assets	(71,199)	(100,625)	(50,770)
Real estate impairment losses	45,007	19,098	7,880
Stock-based compensation expense	43,201	29,249	38,329
Equity in net (income) loss of partially owned entities	(38,689)	461,351	(130,517)
Change in deferred tax liability	17,020	14,005	11,243
Amortization of interest rate cap premiums	10,989	430	11
Straight-lining of rents	(8,808)	(46,177)	8,644
Credit losses on investments	8,269	0	0
Amortization of below-market leases, net	(5,268)	(5,178)	(9,249)
Net realized and unrealized (gain) loss on real estate fund investments	(1,861)	2,589	(4,621)
Return of capital from real estate fund investments	1,861	5,141	5,104
Write-off of lease receivables deemed uncollectible	1,008	872	7,695
Defeasance cost in connection with refinancing of mortgage payable	0	0	23,729
Other non-cash adjustments	8,866	2,660	(3,886)
Changes in operating assets and liabilities:
Real estate fund investments	0	0	(4,474)
Tenant and other receivables	9,379	(4,437)	(187)
Prepaid assets	(12,854)	104,186	30,466
Other assets	(79,110)	(34,615)	(54,716)
Lease liabilities	17,582	15,658	(4,091)
Accounts payable and accrued expenses	10,723	5,718	35,856
Other liabilities	28,701	824	692
Net cash provided by operating activities	648,152	798,944	761,806
Cash Flows from Investing Activities:
Development costs and construction in progress	(552,701)	(737,999)	(585,940)
Proceeds from maturities of U.S. Treasury bills	468,598	597,499	0
Additions to real estate	(211,899)	(159,796)	(149,461)
Proceeds from sales of real estate	123,519	373,264	100,024
Proceeds from repayment of participation in 150 West 34th Street mortgage loan	105,000	0	0
Investments in partially owned entities	(57,297)	(33,172)	(14,997)
Acquisitions of real estate and other	(33,145)	(3,000)	(3,000)
Proceeds from sale of condominium units at 220 Central Park South	24,484	88,019	137,404
Distributions of capital from partially owned entities	18,869	34,417	106,005
Deconsolidation of cash and restricted cash held by a previously consolidated entity	(14,216)	0	0
Purchase of U.S. Treasury bills	0	(1,066,096)	0
Acquisition of additional 45.0% ownership interest in One Park Avenue (inclusive of $5,806 of prorations and net working capital and net of $39,370 of cash and restricted cash balances consolidated upon acquisition)	0	0	(123,936)
Proceeds from repayments of loans receivable	0	0	1,554
Net cash used in investing activities	(128,788)	(906,864)	(532,347)
Cash Flows from Financing Activities:
Repayments of borrowings	(148,000)	(1,251,373)	(1,584,243)
Contributions from noncontrolling interests	132,701	5,609	4,052
Distributions to Vornado	(129,066)	(406,562)	(406,109)
Distributions to preferred unitholders	(62,116)	(62,116)	(65,880)
Distributions to redeemable security holders and noncontrolling interests in consolidated subsidiaries	(38,970)	(84,699)	(190,876)
Repurchase of Class A units owned by Vornado	(29,183)	0	0
Deferred financing costs	(4,424)	(32,706)	(51,184)
Repurchase of Class A units related to stock compensation agreements and related tax withholdings and other	(25)	(85)	(1,567)
Proceeds from borrowings	0	1,029,773	3,248,007
Purchase of marketable securities in connection with defeasance of mortgage payable	0	0	(973,729)
Redemption of preferred shares	0	0	(300,000)
Proceeds from the issuance of preferred shares	0	0	291,153
Net cash used in financing activities	(278,937)	(801,274)	(29,477)
Net increase (decrease) in cash and cash equivalents and restricted cash	240,427	(909,194)	199,982
Cash and cash equivalents and restricted cash at beginning of period	1,021,157	1,930,351	1,730,369
Cash and cash equivalents and restricted cash at end of period	1,261,584	1,021,157	1,930,351
Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period	889,689	1,760,225	1,624,482
Restricted cash at beginning of period	131,468	170,126	105,887
Cash and cash equivalents and restricted cash at beginning of period	1,021,157	1,930,351	1,730,369
Cash and cash equivalents at end of period	997,002	889,689	1,760,225
Restricted cash at end of period	264,582	131,468	170,126
Cash and cash equivalents and restricted cash at end of period	1,261,584	1,021,157	1,930,351
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest (excluding capitalized interest) and interest rate cap premiums	381,410	252,371	188,587
Cash payments for income taxes	10,365	7,947	9,155
Non-Cash Information:
Redeemable Class A unit measurement adjustment	(138,114)	221,145	(76,073)
Change in fair value of consolidated interest rate hedges and other	(112,051)	190,494	51,337
Write-off of fully depreciated assets	(82,343)	(278,561)	(123,537)
Accrued capital expenditures included in accounts payable and accrued expenses	52,091	104,750	291,690
Initial investment in Pier 94 joint venture upon contribution of leasehold interest	50,090	0	0
Decrease in assets and liabilities resulting from the deconsolidation of Pier 94:
Real estate	21,693	0	0
Right-of-use assets	7,081	0	0
Lease liabilities	(20,692)	0	0
Additional estimated lease liability arising from the recognition of right-of-use asset	0	350,000	0
Reclassification of condominium units from "development costs and construction in progress" to "220 Central Park South condominium units ready for sale"	0	32,604	16,014
Reclassification of assets held for sale (included in "other assets")	0	0	80,005
Increase in assets and liabilities resulting from the consolidation of One Park Avenue:
Marketable securities transferred in connection with the defeasance of mortgage payable	0	0	(973,729)
Defeasance of mortgage payable	0	0	950,000
One Park Avenue
Increase in assets and liabilities resulting from the consolidation of One Park Avenue:
Real estate	0	0	566,013
Identified intangible assets	0	0	139,545
Mortgages payable	0	0	525,000
Deferred revenue	0	0	18,884
Vornado Realty L.P.
Cash Flows from Operating Activities:
Net income (loss)	32,888	(382,612)	207,553
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization (including amortization of deferred financing costs)	457,574	526,306	432,594
Distributions of income from partially owned entities	172,873	184,501	214,521
Net gains on disposition of wholly owned and partially owned assets	(71,199)	(100,625)	(50,770)
Real estate impairment losses	45,007	19,098	7,880
Stock-based compensation expense	43,201	29,249	38,329
Equity in net (income) loss of partially owned entities	(38,689)	461,351	(130,517)
Change in deferred tax liability	17,020	14,005	11,243
Amortization of interest rate cap premiums	10,989	430	11
Straight-lining of rents	(8,808)	(46,177)	8,644
Credit losses on investments	8,269	0	0
Amortization of below-market leases, net	(5,268)	(5,178)	(9,249)
Net realized and unrealized (gain) loss on real estate fund investments	(1,861)	2,589	(4,621)
Return of capital from real estate fund investments	1,861	5,141	5,104
Write-off of lease receivables deemed uncollectible	1,008	872	7,695
Defeasance cost in connection with refinancing of mortgage payable	0	0	23,729
Other non-cash adjustments	8,866	2,660	(3,886)
Changes in operating assets and liabilities:
Real estate fund investments	0	0	(4,474)
Tenant and other receivables	9,379	(4,437)	(187)
Prepaid assets	(12,854)	104,186	30,466
Other assets	(79,110)	(34,615)	(54,716)
Lease liabilities	17,582	15,658	(4,091)
Accounts payable and accrued expenses	10,723	5,718	35,856
Other liabilities	28,701	824	692
Net cash provided by operating activities	648,152	798,944	761,806
Cash Flows from Investing Activities:
Development costs and construction in progress	(552,701)	(737,999)	(585,940)
Proceeds from maturities of U.S. Treasury bills	468,598	597,499	0
Additions to real estate	(211,899)	(159,796)	(149,461)
Proceeds from sales of real estate	123,519	373,264	100,024
Proceeds from repayment of participation in 150 West 34th Street mortgage loan	105,000	0	0
Investments in partially owned entities	(57,297)	(33,172)	(14,997)
Acquisitions of real estate and other	(33,145)	(3,000)	(3,000)
Proceeds from sale of condominium units at 220 Central Park South	24,484	88,019	137,404
Distributions of capital from partially owned entities	18,869	34,417	106,005
Deconsolidation of cash and restricted cash held by a previously consolidated entity	(14,216)	0	0
Purchase of U.S. Treasury bills	0	(1,066,096)	0
Acquisition of additional 45.0% ownership interest in One Park Avenue (inclusive of $5,806 of prorations and net working capital and net of $39,370 of cash and restricted cash balances consolidated upon acquisition)	0	0	(123,936)
Proceeds from repayments of loans receivable	0	0	1,554
Net cash used in investing activities	(128,788)	(906,864)	(532,347)
Cash Flows from Financing Activities:
Repayments of borrowings	(148,000)	(1,251,373)	(1,584,243)
Contributions from noncontrolling interests	132,701	5,609	4,052
Distributions to Vornado	(129,066)	(406,562)	(406,109)
Distributions to preferred unitholders	(62,116)	(62,116)	(65,880)
Distributions to redeemable security holders and noncontrolling interests in consolidated subsidiaries	(38,970)	(84,699)	(190,876)
Repurchase of Class A units owned by Vornado	(29,183)	0	0
Deferred financing costs	(4,424)	(32,706)	(51,184)
Proceeds received from exercise of employee share options and other	146	885	899
Repurchase of Class A units related to stock compensation agreements and related tax withholdings and other	(25)	(85)	(1,567)
Proceeds from borrowings	0	1,029,773	3,248,007
Purchase of marketable securities in connection with defeasance of mortgage payable	0	0	(973,729)
Redemption of preferred shares	0	0	(300,000)
Proceeds from the issuance of preferred shares	0	0	291,153
Net cash used in financing activities	(278,937)	(801,274)	(29,477)
Net increase (decrease) in cash and cash equivalents and restricted cash	240,427	(909,194)	199,982
Cash and cash equivalents and restricted cash at beginning of period	1,021,157	1,930,351	1,730,369
Cash and cash equivalents and restricted cash at end of period	1,261,584	1,021,157	1,930,351
Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period	889,689	1,760,225	1,624,482
Restricted cash at beginning of period	131,468	170,126	105,887
Cash and cash equivalents and restricted cash at beginning of period	1,021,157	1,930,351	1,730,369
Cash and cash equivalents at end of period	997,002	889,689	1,760,225
Restricted cash at end of period	264,582	131,468	170,126
Cash and cash equivalents and restricted cash at end of period	1,261,584	1,021,157	1,930,351
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest (excluding capitalized interest) and interest rate cap premiums	381,410	252,371	188,587
Cash payments for income taxes	10,365	7,947	9,155
Non-Cash Information:
Redeemable Class A unit measurement adjustment	(138,114)	221,145	(76,073)
Change in fair value of consolidated interest rate hedges and other	(112,051)	190,494	51,337
Write-off of fully depreciated assets	(82,343)	(278,561)	(123,537)
Accrued capital expenditures included in accounts payable and accrued expenses	52,091	104,750	291,690
Initial investment in Pier 94 joint venture upon contribution of leasehold interest	50,090	0	0
Decrease in assets and liabilities resulting from the deconsolidation of Pier 94:
Real estate	21,693	0	0
Right-of-use assets	7,081	0	0
Lease liabilities	(20,692)	0	0
Additional estimated lease liability arising from the recognition of right-of-use asset	0	350,000	0
Reclassification of condominium units from "development costs and construction in progress" to "220 Central Park South condominium units ready for sale"	0	32,604	16,014
Reclassification of assets held for sale (included in "other assets")	0	0	80,005
Increase in assets and liabilities resulting from the consolidation of One Park Avenue:
Marketable securities transferred in connection with the defeasance of mortgage payable	0	0	(973,729)
Defeasance of mortgage payable	0	0	950,000
Vornado Realty L.P. | One Park Avenue
Increase in assets and liabilities resulting from the consolidation of One Park Avenue:
Real estate	0	0	566,013
Identified intangible assets	0	0	139,545
Mortgages payable	0	0	525,000
Deferred revenue	$ 0	$ 0	$ 18,884

Consolidated Statements of Ca_4

Consolidated Statements of Cash Flows (Parentheticals) (LP) - One Park Avenue $ in Thousands	Dec. 31, 2021 USD ($)
Ownership interest	45%
Net working capital	$ 5,806
Cash and restricted cash	$ 39,370
Vornado Realty L.P.
Ownership interest	45%
Net working capital	$ 5,806
Cash and restricted cash	$ 39,370

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business Vornado Realty Trust (“Vornado”) is a fully‑integrated real estate investment trust (“REIT”) and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P. (the “Operating Partnership”), a Delaware limited partnership. Accordingly, Vornado’s cash flow and ability to pay dividends to its shareholders are dependent upon the cash flow of the Operating Partnership and the ability of its direct and indirect subsidiaries to first satisfy their obligations to creditors. Vornado is the sole general partner of and owned approximately 91.0% of the common limited partnership interest in the Operating Partnership as of December 31, 2023. All references to the “Company,” “we,” “us” and “our” mean, collectively, Vornado, the Operating Partnership and those subsidiaries consolidated by Vornado. We currently own all or portions of: New York: • 57 Manhattan operating properties consisting of: • 20.4 million square feet of office space in 30 of the properties; • 2.4 million square feet of street retail space in 50 of the properties; • 1,662 units in five Manhattan residential properties; • Multiple development sites, including 350 Park Avenue, Sunset Pier 94 Studios and the Hotel Pennsylvania site; • A 32.4% interest in Alexander’s, Inc. (“Alexander’s”) (NYSE: ALX), which owns five properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.1 million square foot Bloomberg, L.P. headquarters building, and The Alexander, a 312-unit apartment tower in Queens; • Signage throughout the Penn District and Times Square; and • Building Maintenance Services LLC ("BMS"), a wholly owned subsidiary, which provides cleaning and security services for our buildings and third parties. Other Real Estate and Investments: • The 3.7 million square foot THE MART in Chicago; • A 70% controlling interest in 555 California Street, a three-building office complex in San Francisco’s financial district aggregating 1.8 million square feet; and •

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements include the accounts of Vornado and the Operating Partnership and their consolidated subsidiaries. All inter-company amounts have been eliminated. Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), which require us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. In addition, certain prior year balances have been reclassified in order to conform to the current period presentation. Recently Issued Accounting Literature In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04 establishing Accounting Standards Codification ("ASC") Topic 848, Reference Rate Reform , and in January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope (collectively, "ASC 848"). ASC 848 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASC 848 is optional and may be elected over time as reference rate reform activities occur. We have elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. In December 2022, the FASB issued ASU 2022-06, Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”) which was issued to defer the sunset date of ASC 848 to December 31, 2024. ASU 2022-06 is effective immediately for all companies. For our derivatives in hedge accounting relationships, we have utilized the elective relief in ASC 848, allowing for the continuation of hedge accounting through the transition process. As of December 31, 2023, we have transitioned all of our LIBOR-indexed debt and derivatives to SOFR, except for the $500,000,000 mortgage loan on the office condominium of 731 Lexington Avenue, owned by Alexander’s Inc. (in which we have a 32.4% interest), which transitioned to the Prime Rate. 2. Basis of Presentation and Significant Accounting Policies - continued Recently Issued Accounting Literature - continued In August 2023, the FASB issued ASU 2023-05, Business Combinations — Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement (“ASU 2023-05”) . ASU 2023-05 addresses the accounting for contributions made to a joint venture, upon formation, in a joint venture’s separate financial statements. Prior to the amendment, the FASB did not provide specific authoritative guidance on the initial measurement of assets and liabilities assumed by a joint venture upon its formation. ASU 2023-05 requires a joint venture to recognize and initially measure its assets and liabilities at fair value (with exceptions to fair value measurement that are consistent with the business combinations guidance). ASU 2023-05 is effective for all joint venture formations with a formation date on or after January 1, 2025, with early adoption permitted. During the current reporting period, we adopted ASU 2023-05 for newly formed entities meeting the definition of a joint venture. Historically, our joint ventures have recognized net assets contributed at formation at fair value. Adoption of ASU 2023-05 did not have an impact on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. The update also requires disclosure regarding the chief operating decision maker and expands the interim segment disclosure requirements. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of ASU 2023-07 on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires entities to disclose additional information with respect to the effective tax rate reconciliation and to disclose the disaggregation by jurisdiction of income tax expense and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of ASU 2023-09 on our consolidated financial statements. Significant Accounting Policies Real Estate: Real estate is carried at cost, net of accumulated depreciation and amortization. Betterments, major renewals and certain costs directly related to the improvement and leasing of real estate are capitalized. Maintenance and repairs are expensed as incurred. For redevelopment of existing operating properties, the net book value of the existing property under redevelopment plus the cost for the construction and improvements incurred in connection with the redevelopment, including interest and debt expense, are capitalized to the extent the capitalized costs of the property do not exceed the estimated fair value of the redeveloped property when complete. If the cost of the redeveloped property, including the net book value of the existing property, exceeds the estimated fair value of the redeveloped property, the excess is charged to expense. Depreciation is recognized on a straight-line basis over the estimated useful lives of these assets which range from 7 to 40 years. Tenant allowances are amortized on a straight-line basis over the lives of the related leases, which approximate the useful lives of the assets. Upon the acquisition of real estate, we assess whether the transaction should be accounted for as an asset acquisition or as a business combination. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. Our acquisitions of real estate generally will not meet the definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related identified intangible assets). We assess the fair value of acquired assets (including land, buildings and improvements, identified intangibles, such as acquired above and below-market leases, acquired in-place leases and tenant relationships) and acquired liabilities and we allocate the purchase price based on these assessments which are on a relative fair value basis. We assess fair value based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known trends, and market/economic conditions. We amortize identified intangibles that have finite lives over the period they are expected to contribute directly or indirectly to the future cash flows of the property or business acquired. Our properties, including any related right-of-use ("ROU") assets and intangible assets, are individually reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment exists when the carrying amount of an asset exceeds the aggregate projected future cash flows over the anticipated holding period on an undiscounted basis. An impairment loss is measured based on the excess of the property’s carrying amount over its estimated fair value. Impairment analyses are based on information available at the time the analyses are prepared. Estimates of future cash flows are subjective and are based, in part, on assumptions regarding future rental revenues, operating expenses, capital expenditures, discount rates and capitalization rates which could differ materially from actual results. 2. Basis of Presentation and Significant Accounting Policies - continued Significant Accounting Policies - continued Partially Owned Entities: We consolidate entities in which we have a controlling financial interest. In determining whether we have a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, we consider (i) whether the entity is a variable interest entity (“VIE”) in which we are the primary beneficiary or (ii) whether the entity is a voting interest entity in which we have a majority of the voting interests of the entity. We are deemed to be the primary beneficiary of a VIE when we have (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. We generally do not control a partially owned entity if the approval of all of the partners/members is contractually required with respect to decisions that most significantly impact the performance of the partially owned entity. This includes decisions regarding operating/capital budgets, and the placement of new or additional financing secured by the assets of the venture, among others. We account for investments under the equity method when the requirements for consolidation are not met, and we have significant influence over the operations of the investee. Equity method investments are initially recorded at cost and subsequently adjusted for our share of net income or loss and cash contributions and distributions each period. Equity investments that do not qualify for consolidation or equity method accounting are recorded at fair value in accordance with ASC Topic 321, Investments-Equity Securities ("ASC 321") or, if fair value is not readily determinable, are initially recognized at cost and subsequently remeasured if there is an orderly transaction in an identical or similar investment of the same issuer or if the investment is impaired. Investments in unconsolidated partially owned entities are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recorded when there is a decline in the fair value of an investment below its carrying value and we conclude that the decline is other-than-temporary during our intended holding period. An impairment loss is measured based on the excess of the carrying amount of an investment over its estimated fair value. Impairment analyses are based on information available at the time the analyses are prepared. Estimates of future cash flows are subjective and are based, in part, on assumptions regarding future rental revenues, operating expenses, capital expenditures, discount rates and capitalization rates which could differ materially from actual results. 220 Central Park South Condominium Units Ready For Sale: Our remaining unsold 220 Central Park South (“220 CPS”) residential condominium units are recognized in “220 Central Park South condominium units ready for sale”. These units have received temporary certificates of occupancy and are carried at the lower of their carrying amount or fair value less costs to sell. We have used the relative sales value method to allocate costs to individual condominium units. GAAP income is recognized when legal title transfers upon closing of the condominium unit sales and is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. As of December 31, 2023 and 2022, none of the 220 CPS condominium units ready for sale had a carrying value that exceeded fair value. Cash and Cash Equivalents: Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less and are carried at cost, which approximates fair value due to their short-term maturities. The majority of our cash and cash equivalents consists of (i) deposits at major commercial banks, which may at times exceed the Federal Deposit Insurance Corporation limit and (ii) Certificate of Deposits placed through an Account Registry Service. Restricted Cash: Restricted cash consists of security deposits, cash restricted for the purposes of facilitating a Section 1031 Like-Kind exchange, cash restricted in connection with our deferred compensation plan and cash escrowed under loan agreements, including for debt service, real estate taxes, property insurance, leasing costs and capital improvements. Deferred Charges: Direct financing costs are deferred and amortized over the terms of the related agreements as a component of interest expense. Direct and incremental costs related to successful leasing activities are capitalized and amortized on a straight-line basis over the lives of the related leases. All other deferred charges are amortized on a straight-line basis, which approximates the effective interest rate method, in accordance with the terms of the agreements to which they relate. 2. Basis of Presentation and Significant Accounting Policies - continued Significant Accounting Policies - continued Revenue Recognition: • Rental revenues include revenues from the leasing of space at our properties to tenants, trade shows, tenant services and parking garage revenues. • Revenues from the leasing of space at our properties to tenants include (i) lease components, including fixed and variable lease payments, and nonlease components which include reimbursement of common area maintenance expenses, and (ii) reimbursement of real estate taxes and insurance expenses. As lessor, we have elected to combine the lease and nonlease components of our operating lease agreements and account for the components as a single lease component in accordance with ASC Topic 842, Leases (“ASC 842”). • Revenues from fixed lease payments for operating leases are recognized on a straight-line basis over the non-cancelable term of the lease, together with renewal options that are reasonably certain of being exercised. We commence revenue recognition when the tenant takes possession of the leased space and the leased space is substantially ready for its intended use. • Revenues derived from the reimbursement of real estate taxes, insurance expenses and common area maintenance expenses are variable, and are generally recognized in the same period as the related expenses are incurred. • We recognize amortization of acquired below-market leases as an increase to rental revenues and amortization of acquired above-market leases as a decrease to rental revenues over the term of the lease (see Note 8 - Identified Intangible Assets and Liabilities ). • Revenues from the operation of trade shows at our properties, primarily derived from booth rentals, are recognized when the trade show booths are made available for use by the exhibitors, in accordance with ASC 842. • Revenues derived from sub-metered electric, service elevator, trash removal and other services provided to our tenants at their request are recognized as the services are transferred in accordance with ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"). • Revenues derived from the operations of our parking facilities, which charge hourly or monthly fees to provide parking services to customers, are recognized as the services are transferred in accordance with ASC 606. • We classify revenues derived from management, leasing and other contractual agreements (including BMS cleaning, engineering and security services) with third parties or with partially owned entities as “fee and other income” and recognize revenue as the services are transferred in accordance with ASC 606. We evaluate on an individual lease basis whether it is probable that we will collect substantially all amounts due from our tenants and recognize changes in the collectability assessment of our operating leases as adjustments to rental revenue. Management exercises judgment in assessing collectability of tenant receivables and considers payment history, current credit status and publicly available information about the financial condition of the tenant, and other factors. Tenant receivables, including receivables arising from the straight-lining of rents, are written off when management deems that the collectability of substantially all future lease payments from a specific lease is not probable of collection, at which point, the Company will limit future rental revenues to cash received. 2. Basis of Presentation and Significant Accounting Policies - continued Significant Accounting Policies - continued Income Taxes: Vornado operates in a manner intended to enable it to continue to qualify as a REIT under Sections 856‑860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders. Vornado distributes to its shareholders 100% of its REIT taxable income and therefore, no provision for Federal income taxes is required. Dividends distributed for the years ended December 31, 2023 and 2022 were characterized, for federal income tax purposes, as ordinary income under Section 199A of the Internal Revenue Code. Dividends distributed for the year ended December 31, 2021 were characterized for federal income tax purposes as 84.2% ordinary income under Section 199A of the Internal Revenue Code and 15.8% qualified dividend income (taxed as long-term capital gain). We have elected to treat certain consolidated subsidiaries, and may in the future elect to treat newly formed subsidiaries, as taxable REIT subsidiaries pursuant to an amendment to the Internal Revenue Code that became effective January 1, 2001. Taxable REIT subsidiaries may participate in non-real estate related activities and/or perform non-customary services for tenants and are subject to Federal and State income tax at regular corporate tax rates. The Farley Building and our 220 CPS condominium project are held through taxable REIT subsidiaries. As of December 31, 2023 and 2022, our taxable REIT subsidiaries had deferred tax assets, net of valuation allowances, of $7,557,000 and $7,944,000, respectively, which are included in “other assets” on our consolidated balance sheets. As of December 31, 2023 and 2022, our taxable REIT subsidiaries had deferred tax liabilities of $74,721,000 and $54,597,000, respectively, which are included in "other liabilities" on our consolidated balance sheets. The deferred tax assets relate to net operating loss carry forwards and temporary differences between the book and tax basis of our assets. The deferred tax liabilities relate to temporary differences between the book and tax basis of our assets. As of December 31, 2023, our taxable REIT subsidiaries have an estimated $162,000,000 of federal net operating loss ("NOL") carryforwards and $259,000,000 of state and local NOL carryforwards, which are reduced by valuation allowances of $144,000,000 for federal NOL carryforwards and $242,000,000 for state and local NOL carryforwards. The NOL carryforwards are subject to certain limitations. For the year ended December 31, 2023, we recognized $29,222,000 of income tax expense based on an effective tax rate of approximately 47.0%. For the years ended December 31, 2022 and 2021, we recognized $21,660,000 of income tax expense and $10,496,000 of income tax benefit, based on negative effective tax rates of approximately 6.0% and 5.3%, respectively. Income tax (expense) benefit recorded in each of the years primarily relates to our consolidated taxable REIT subsidiaries, and certain state, local, and franchise taxes. The year ended December 31, 2023 included $11,722,000 of income tax expense resulting from book to tax differences (primarily straight-line rent adjustments and depreciation) on our investment in The Farley Building and $2,168,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2022 included $13,665,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $6,016,000 of income tax expense recognized on the sale of 220 CPS condominium units. The year ended December 31, 2021 included $27,910,000 of income tax benefit recognized by our taxable REIT subsidiaries, $10,868,000 of income tax expense resulting from book to tax differences on our investment in The Farley Building and $5,711,000 of income tax expense recognized on the sale of 220 CPS condominium units. The Company has no uncertain tax positions recognized as of December 31, 2023 and 2022. The Operating Partnership’s partners are required to report their respective share of taxable income on their individual tax returns. The estimated taxable income attributable to Vornado common shareholders (unaudited) for the years ended December 31, 2023, 2022 and 2021 was approximately $102,903,000, $398,644,000, and $413,026,000, respectively. The book to tax differences between net income (loss) and estimated taxable income primarily result from differences in the income recognition or deductibility of depreciation and amortization, gain or loss from the sale of real estate and other capital transactions, impairment losses, straight-line rent adjustments, stock option expense and repairs expense related to the tangible property regulations. The net basis of Vornado’s assets and liabilities for tax reporting purposes is approximately $1.5 billion lower than the amounts reported in Vornado’s consolidated balance sheet as of December 31, 2023.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2023
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 years ended December 31, 2023, 2022 and 2021 is set forth in Note 23 - Segment Information. (Amounts in thousands) For the Year Ended December 31, 2023 Total New York Other Property rentals $ 1,523,890 $ 1,222,229 $ 301,661 (1) Trade shows (2) 20,781 — 20,781 Lease revenues (3) 1,544,671 1,222,229 322,442 Tenant services 42,460 31,086 11,374 Parking revenues 20,355 16,502 3,853 Rental revenues 1,607,486 1,269,817 337,669 BMS cleaning fees 141,937 151,608 (9,671) (4) Management and leasing fees 13,040 13,619 (579) Other income 48,700 17,114 31,586 Fee and other income 203,677 182,341 21,336 Total revenues $ 1,811,163 $ 1,452,158 $ 359,005 ____________________ See notes on following page. (Amounts in thousands) For the Year Ended December 31, 2022 Total New York Other Property rentals $ 1,510,648 $ 1,230,851 $ 279,797 Trade shows (2) 32,669 — 32,669 Lease revenues (3) 1,543,317 1,230,851 312,466 Tenant services 45,211 33,351 11,860 Parking revenues 19,157 15,979 3,178 Rental revenues 1,607,685 1,280,181 327,504 BMS cleaning fees 137,673 146,530 (8,857) (4) Management and leasing fees 11,039 11,645 (606) Other income 43,598 11,086 32,512 Fee and other income 192,310 169,261 23,049 Total revenues $ 1,799,995 $ 1,449,442 $ 350,553 ____________________ See notes on following page. 3. Revenue Recognition - continued (Amounts in thousands) For the Year Ended December 31, 2021 Total New York Other Property rentals $ 1,354,209 $ 1,071,816 $ 282,393 Trade shows (2) 19,482 — 19,482 Lease revenues (3) 1,373,691 1,071,816 301,875 Tenant services 37,449 26,048 11,401 Parking revenues 13,391 11,370 2,021 Rental revenues 1,424,531 1,109,234 315,297 BMS cleaning fees 119,780 126,891 (7,111) (4) Management and leasing fees 11,725 12,177 (452) Other income 33,174 9,297 23,877 Fee and other income 164,679 148,365 16,314 Total revenues $ 1,589,210 $ 1,257,599 $ 331,611 ________________________________________ (1) 2023 includes the receipt of a $21,350 tenant settlement, of which $6,405 is attributable to noncontrolling interests. (2) 2022 and 2021 include revenues from The Armory Show. On July 3, 2023, we completed the sale of The Armory Show. See Note 7 - Dispositions for further information. (3) The components of lease revenues were as follows: For the Year Ended December 31, 2023 2022 2021 Fixed billings $ 1,387,731 $ 1,376,527 $ 1,277,645 Variable billings 150,045 122,947 108,850 Total contractual operating lease billings 1,537,776 1,499,474 1,386,495 Adjustment for straight-line rents and amortization of acquired below-market leases and other, net 12,756 44,715 (5,109) Less: write-off of straight-line rent and tenant receivables deemed uncollectible (5,861) (872) (7,695) Lease revenues $ 1,544,671 $ 1,543,317 $ 1,373,691 (4) Represents the elimination of BMS cleaning fees related to THE MART and 555 California Street which are included as income in the New York segment.

Real Estate Fund Investments

Real Estate Fund Investments	12 Months Ended
	Dec. 31, 2023
Real Estate Fund Investments [Abstract]
Real Estate Fund Investments	Real Estate Fund Investments We are the general partner and investment manager of Vornado Capital Partners Real Estate Fund (the “Fund”) and own a 25.0% interest in the Fund. The Fund had an initial eight-year term ending February 2019, which has been extended to December 2024, by which time the Fund intends to dispose of its remaining investment and wind down its business. The Fund's three-year investment period ended in July 2013. The Fund is accounted for under ASC Topic 946, Financial Services – Investment Companies (“ASC 946”) and its investments are reported on its balance sheet at fair value, with changes in value each period recognized in earnings. We consolidate the accounts of the Fund into our consolidated financial statements, retaining the fair value basis of accounting. Prior to its dissolution on September 29, 2023, we were the general partner and investment manager of the Crowne Plaza Times Square Hotel Joint Venture (the “Crowne Plaza Joint Venture”) and owned a 57.1% interest in the joint venture which, prior to the transaction described below, owned the 24.3% interest in the Crowne Plaza Times Square Hotel not owned by the Fund. Through our interests in the Fund and the Crowne Plaza Joint Venture, in total we owned an indirect, minority 32.8% interest in the Crowne Plaza Times Square Hotel. In June 2020, the Fund and the Crowne Plaza Joint Venture (collectively, the "Crowne Plaza Co-Investors") defaulted on the $274,355,000 non-recourse loan on the Crowne Plaza Times Square Hotel. In 2021, the mezzanine lender to the Crowne Plaza Co-Investors exercised its right under the loan documents and appointed an independent director to certain subsidiaries of the Crowne Plaza Co-Investors. Since then, neither we nor the Fund controlled Crowne Plaza Times Square Hotel nor have we or the Fund been involved in making any operating decisions relating to Crowne Plaza Times Square Hotel. In December 2022, the Fund entered into a Restructuring Support Agreement with certain of its subsidiaries and the lender of the loan on the Crowne Plaza Times Square Hotel, pursuant to which the independent director caused the subsidiaries to enter into a Chapter 11 bankruptcy restructuring process and the Fund agreed to work consensually with such subsidiaries and the lender to effectuate a transfer of ownership of the hotel property through a court supervised auction process, or an equitization of the secured loans held by the lender. On March 21, 2023, the bankruptcy court confirmed the subsidiaries' Chapter 11 plan of reorganization, which became effective on March 31, 2023. Following the Chapter 11 reorganization, neither we nor the Fund have any continuing ownership or other interest in the hotel property. As we have no carrying value or contingent liabilities related to Crowne Plaza, there is no impact to our consolidated financial statements for the year ended December 31, 2023. As investment manager of the Fund, we are entitled to an incentive allocation after the limited partners have received a preferred return on their invested capital, subject to catch-up and clawback provisions. On December 27, 2023, we made a $14,667,000 payment to the limited partners, net of amounts owed to us, representing a clawback of previously paid incentive allocations. As of December 31, 2023, we had one real estate fund investment carried at zero on our consolidated balance sheet, $28,815,000 below cost, and had remaining unfunded commitments of $23,074,000, of which our share was $5,769,000. Below is a summary of income from the Fund and the Crowne Plaza Joint Venture. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Previously recorded unrealized loss on exited investments $ 247,575 $ 59,396 $ — Net realized (loss) income on exited investments (245,714) (54,255) 1,364 Net unrealized (loss) income on held investments — (7,730) 3,257 Net investment (loss) income (271) 6,130 6,445 Income from real estate fund investments 1,590 3,541 11,066 Less loss (income) attributable to noncontrolling interests in consolidated subsidiaries 12,789 (1,870) (7,309) Income from real estate fund investments net of noncontrolling interests in consolidated subsidiaries $ 14,379 $ 1,671 $ 3,757 The table below summarizes the changes in the fair value of the Fund and the Crowne Plaza Joint Venture. (Amounts in thousands) For the Year Ended December 31, 2023 2022 Beginning balance $ — $ 7,730 Previously recorded unrealized loss on exited investments 247,575 59,396 Net realized loss on exited investments (245,714) (54,255) Net unrealized loss on held investments — (7,730) Dispositions (1,861) (5,141) Ending balance $ — $ —

Investments in Partially Owned

Investments in Partially Owned Entities	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in Partially Owned Entities	Investments in Partially Owned Entities Fifth Avenue and Times Square JV As of December 31, 2023, we own a 51.5% common interest in a joint venture ("Fifth Avenue and Times Square JV") which owns interests in properties located at 640 Fifth Avenue, 655 Fifth Avenue, 666 Fifth Avenue, 689 Fifth Avenue, 697-703 Fifth Avenue, 1535 Broadway and 1540 Broadway (collectively, the "Properties"). The remaining 48.5% common interest in the joint venture is owned by a group of institutional investors (the "Investors"). Our 51.5% common interest in the joint venture represents an effective 51.0% interest in the Properties. The 48.5% common interest in the joint venture owned by the Investors represents an effective 47.2% interest in the Properties. We also own $1.828 billion aggregate liquidation preference of preferred equity interests in certain of the Properties. The preferred equity has an annual coupon of 4.25% through April 2024, increasing to 4.75% for the subsequent five years and thereafter at a formulaic rate. It can be redeemed under certain conditions on a tax deferred basis. Fifth Avenue and Times Square JV operates pursuant to a limited partnership agreement (the “Partnership Agreement”) among VRLP, a wholly owned subsidiary of VRLP (“Vornado GP”) and the Investors. Vornado GP is the general partner of Fifth Avenue and Times Square JV. VRLP is jointly and severally liable with Vornado GP for Vornado GP’s obligations under the Partnership Agreement. Pursuant to the Partnership Agreement and the organizational documents of the entities owning the Properties, the Investors or directors of the entities owning the Properties appointed by the Investors, as the case may be, have the right to approve annual business plans and budgets for the Properties and certain other specified major decisions with respect to the Properties and Fifth Avenue and Times Square JV. The Partnership Agreement affords the Investors the right to remove and replace Vornado GP in the event Vornado GP or certain of its affiliates commit fraud or other bad acts in connection with Fifth Avenue and Times Square JV, become bankrupt or insolvent, or default on certain of their respective obligations under the Partnership Agreement (subject to notice and cure periods in certain circumstances). The Partnership Agreement includes (i) remedies for the failure of any partner to make a required capital contribution for necessary expenses and (ii) liquidity provisions, including transfer rights subject to mutual rights of first offer and a mutual buy-sell, customary for similar partnerships. Subject to certain limitations, commencing April 19, 2024, either party may transfer more than 50% or control of their respective interests in Fifth Avenue and Times Square JV or exercise the buy-sell on a Property-by-Property basis. In the event the buy-sell is exercised with respect to any Property in which VRLP holds preferred equity and VRLP is the selling partner in the buy-sell, VRLP may elect whether or not to include its preferred equity in the buy-sell for the Property to be sold. As of December 31, 2023, the carrying amount of our investment in the joint venture was less than our share of the equity in the net assets of the joint venture by approximately $840,300,000, the basis difference primarily resulting from the non-cash impairment losses recognized in prior periods. Substantially all of this basis difference was allocated, based on our estimates of the fair values of Fifth Avenue and Times Square JV’s assets and liabilities, to real estate (land and buildings). We are amortizing the basis difference related to the buildings into earnings as a reduction to depreciation expense over their estimated useful lives. We receive an annual fee for managing the Properties equal to 2% of the gross revenues from the Properties. In addition, we are entitled to a development fee of 5% of development costs, plus reimbursement of certain costs, for development projects performed by us. We are entitled to 1.5% of development costs, plus reimbursement of certain costs, as a supervisory fee for development projects not performed by us. We provide leasing services for fees calculated based on a percentage of rents, less any commissions paid to third-party real estate brokers, if applicable. We jointly provide leasing services for the retail space with Crown Retail Services LLC, and exclusively provide leasing services for the office space. We recognized property management fee income, included in "fee and other income" on our consolidated statements of income, of $4,587,000, $4,397,000 and $4,297,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Wholly owned subsidiaries of Vornado provide cleaning, security and engineering services at certain Properties. We recognized income for these services, included in "fee and other income" on our consolidated statements of income, of $4,499,000, $4,571,000 and $3,993,000 for the years ended December 31, 2023, 2022 and 2021, respectively. We believe, based on comparable fees charged by other real estate companies, that the fees described above are consistent with the market. On June 14, 2023, the Fifth Avenue and Times Square JV completed a restructuring of the 697-703 Fifth Avenue $421,000,000 non-recourse mortgage loan, which matured in December 2022. The restructured $355,000,000 loan, which had its principal reduced through an application of property-level reserves and funds from the partners, was split into (i) a $325,000,000 senior note, which bears interest at SOFR plus 2.00%, and (ii) a $30,000,000 junior note, which accrues interest at a fixed rate of 4.00%. The restructured loan matures in June 2025, with two one-year and one nine-month as-of-right extension options (March 2028, as fully extended). Any amounts funded for future re-leasing of the property will be senior to the $30,000,000 junior note. 5. Investments in Partially Owned Entities - continued Alexander’s, Inc As of December 31, 2023, we own 1,654,068 Alexander’s common shares, or approximately 32.4% of Alexander’s common equity. We manage, develop and lease Alexander’s properties pursuant to agreements which expire in March of each year and are automatically renewable. As of December 31, 2023 and 2022, Alexander’s owed us an aggregate of $715,000 and $801,000, respectively, pursuant to such agreements. As of December 31, 2023, the market value (“fair value” pursuant to ASC Topic 820, Fair Value Measurements ("ASC 820")) of our investment in Alexander’s, based on Alexander’s December 31, 2023 closing share price of $213.57, was $353,259,000, or $265,749,000 in excess of the carrying amount on our consolidated balance sheet. As of December 31, 2023, the carrying amount of our investment in Alexander’s, excluding amounts owed to us, exceeds our share of the equity in the net assets of Alexander’s by approximately $29,524,000. The majority of this basis difference resulted from the excess of our purchase price for the Alexander’s common stock acquired over the book value of Alexander’s net assets. Substantially all of this basis difference was allocated, based on our estimates of the fair values of Alexander’s assets and liabilities, to real estate (land and buildings). We are amortizing the basis difference related to the buildings into earnings as additional depreciation expense over their estimated useful lives. This depreciation is not material to our share of equity in Alexander’s net income. We receive an annual fee for managing Alexander’s and all of its properties equal to the sum of (i) $2,800,000, (ii) 2% of the gross revenue from the Rego Park II Shopping Center, (iii) $0.50 per square foot of the tenant-occupied office and retail space at 731 Lexington Avenue, and (iv) $365,000, escalating at 3% per annum, for managing the common area of 731 Lexington Avenue. In addition, we are entitled to a development fee of 6% of development costs, as defined. We provide Alexander’s with leasing services for a fee of 3% of rent for the first ten years of a lease term, 2% of rent for the eleventh through twentieth year of a lease term and 1% of rent for the twenty-first through thirtieth year of a lease term, subject to the payment of rents by Alexander’s tenants. In the event third-party real estate brokers are used, our fee increases by 1% and we are responsible for the fees to the third-parties. We are also entitled to a commission upon the sale of any of Alexander’s assets equal to 3% of gross proceeds, as defined, for asset sales less than $50,000,000, and 1% of gross proceeds, as defined, for asset sales of $50,000,000 or more. Wholly owned subsidiaries of Vornado provide cleaning, engineering, security, and garage management services to certain Alexander’s properties. During the years ended December 31, 2023, 2022 and 2021, we recognized $4,629,000, $4,601,000 and $4,234,000 of income, respectively, for these services. On May 19, 2023, Alexander's completed the sale of the Rego Park III land parcel, located in Queens, New York, for $71,060,000, inclusive of consideration for Brownfield tax benefits and reimbursement of costs for plans, specifications and improvements to date. As a result of the sale, we recognized our $16,396,000 share of the net gain and received a $711,000 sales commission from Alexander’s, of which $250,000 was paid to a third-party broker. 512 West 22nd Street On June 28, 2023, a joint venture, in which we have a 55% interest, completed a $129,250,000 refinancing of 512 West 22nd Street, a 173,000 square foot Manhattan office building. The interest-only loan bears a rate of SOFR plus 2.00% in year one and SOFR plus 2.35% thereafter. The loan matures in June 2025 with a one-year extension option subject to debt service coverage ratio, loan-to-value and debt yield requirements. The loan replaces the previous $137,124,000 loan that bore interest at LIBOR plus 1.85% and had an initial maturity of June 2023. In addition, the joint venture entered into a two-year 4.50% interest rate cap arrangement. 825 Seventh Avenue On July 24, 2023, a joint venture, in which we have a 50% interest, completed a $54,000,000 refinancing of the office condominium of 825 Seventh Avenue, a 173,000 square foot Manhattan office and retail building. The interest-only loan bears a rate of SOFR plus 2.75%, with a 30 basis point reduction available upon satisfaction of certain leasing conditions, and matures in January 2026. The loan replaces the previous $60,000,000 loan that bore interest at LIBOR plus 2.35% and was scheduled to mature in July 2023. 5. Investments in Partially Owned Entities - continued Sunset Pier 94 Joint Venture On August 28, 2023, we, together with Hudson Pacific Properties and Blackstone Inc., formed a joint venture (“Pier 94 JV”) to develop a 266,000 square foot purpose-built studio campus at Pier 94 in Manhattan (“Sunset Pier 94 Studios”). In connection therewith: • We contributed our Pier 94 leasehold interest to the joint venture in exchange for a 49.9% common equity interest and an initial capital account of $47,944,000, comprised of (i) the $40,000,000 value of our Pier 94 leasehold interest contribution and (ii) a $7,994,000 credit for pre-development costs incurred. Hudson Pacific Properties (“HPP”) and Blackstone Inc. (together, “HPP/BX”) received an aggregate 50.1% common equity interest in Pier 94 JV and an initial capital account of $22,976,000 in exchange for (i) a $15,000,000 cash contribution upon the joint venture’s formation and (ii) a $7,976,000 credit for pre-development costs incurred. HPP/BX will fund 100% of cash contributions until such time that its capital account is equal to Vornado’s, after which equity will be funded in accordance with each partner’s respective ownership interest. • The lease of Pier 94 with the City of New York was amended and restated to allow for the contribution to Pier 94 JV and to remove Pier 92 from the lease’s demised premises. The amended and restated lease expires in 2060 with five 10-year renewal options. • Pier 94 JV closed on a $183,200,000 construction loan facility ($100,000 outstanding as of December 31, 2023) which bears interest at SOFR plus 4.75% and matures in September 2025, with one one-year as-of-right extension option and two one-year extension options subject to certain conditions. VRLP and the other partners provided a joint and several completion guarantee. The development cost of the project is estimated to be $350,000,000, which will be funded with $183,200,000 of construction financing (described above) and $166,800,000 of equity contributions. Our share of equity contributions will be funded by (i) our $40,000,000 Pier 94 leasehold interest contribution and (ii) $34,000,000 of cash contributions, which are net of an estimated $9,000,000 for our share of development fees and reimbursement for overhead costs incurred by us. We share control with HPP/BX for major decisions of the joint venture, including decisions regarding development, leasing, operating and capital budgets, and refinancings, and accordingly account for our investment in Pier 94 JV under the equity method. Upon contribution of the Pier 94 leasehold, we recognized a $35,968,000 net gain primarily due to the step-up of our retained investment in the leasehold interest to fair value. The net gain was included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income for the year ended December 31, 2023. Vornado and HPP will jointly serve as co-managing members of Pier 94 JV and will provide development and management services to Pier 94 JV through the construction period and subsequent to substantial completion. Fees earned for these services will be split by Vornado and HPP on a 50/50 basis. BMS, our wholly-owned subsidiary, will provide cleaning, security and other services with respect to Sunset Pier 94 Studios. 5. Investments in Partially Owned Entities – continued Below is a schedule of our investments in partially owned entities. (Amounts in thousands) Percentage Ownership as of December 31, 2023 Balance as of December 31, 2023 2022 Investments: Fifth Avenue and Times Square JV (see page 90 51.5% $ 2,242,972 $ 2,272,320 Partially owned office buildings/land (1) Various 118,558 182,180 Alexander’s (see page 91 32.4% 87,510 87,796 Other equity method investments (2) Various 161,518 122,777 $ 2,610,558 $ 2,665,073 Investments in partially owned entities included in other liabilities (3) : 7 West 34th Street 53.0% $ (69,899) $ (65,522) 85 Tenth Avenue 49.9% (11,330) (16,006) $ (81,229) $ (81,528) ________________________________________ (1) Includes interests in 280 Park Avenue, 650 Madison Avenue, 512 West 22nd Street, 61 Ninth Avenue and others. (2) Includes interests in Independence Plaza, Pier 94 JV (see page 92 (3) Our negative basis results from distributions in excess of our investment. Below is a schedule of income (loss) from partially owned entities. (Amounts in thousands) Percentage Ownership as of December 31, 2023 For the Year Ended December 31, 2023 2022 2021 Our share of net income (loss): Fifth Avenue and Times Square JV (see page 90 Equity in net income (1) 51.5% $ 35,209 $ 55,248 $ 47,144 Return on preferred equity, net of our share of the expense 37,416 37,416 37,416 Non-cash impairment loss — (489,859) — 72,625 (397,195) 84,560 Alexander's (see page 91 Equity in net income 32.4% 15,441 18,439 20,116 Management, leasing and development fees 5,238 4,534 5,429 Net gain on sale of land 16,396 — 14,576 37,075 22,973 40,121 Partially owned office buildings (2)(3) Various (73,589) (110,261) 6,384 Other equity method investments (3)(4) Various 2,578 23,132 (548) $ 38,689 $ (461,351) $ 130,517 ________________________________________ (1) 2023 includes (i) a $5,120 accrual of default interest which was forgiven by the lender as part of the restructuring of the 697-703 Fifth Avenue loan and is amortized over the remaining term of the restructured loan, reducing future interest expense and (ii) lower income from lease renewals at 697-703 Fifth Avenue and 666 Fifth Avenue, partially offset by a decrease in our share of depreciation and amortization expense compared to the prior year, primarily resulting from non-cash impairment losses recognized in prior periods. (2) Includes interests in 280 Park Avenue, 650 Madison Avenue, 7 West 34th Street, 512 West 22nd Street, 61 Ninth Avenue, 85 Tenth Avenue and others. (3) In 2023 and 2022, we recognized $50,458 and $93,353, respectively, of impairment losses. (4) Includes interests in Independence Plaza, Rosslyn Plaza and others. 2022 includes $17,185 of net gains from dispositions of two investments. 5. Investments in Partially Owned Entities – continued Below is a summary of the debt of our partially owned entities. (Amounts in thousands) Percentage Ownership as of December 31, 2023 Maturity (1) Weighted Average Interest Rate as of December 31, 2023 (2) 100% Partially Owned Entities’ Debt (3) as of December 31, 2023 2022 Mortgages Payable: Partially owned office buildings (4) Various 2024-2029 5.45% $ 3,275,098 $ 3,288,977 Alexander's 32.4% 2024-2027 4.48% 1,096,544 1,096,544 Fifth Avenue and Times Square JV 51.5% 2024-2028 5.92% 855,476 921,000 Other (5) Various 2024-2032 5.16% 1,365,954 1,377,492 ________________________________________ (1) Assumes the exercise of as-of-right extension options. (2) Represents the interest rate in effect as of period end based on the appropriate reference rate as of the contractual reset date plus contractual spread, adjusted for hedging instruments, as applicable. (3) All amounts are non-recourse to us except (i) the $500,000 mortgage loan on 640 Fifth Avenue, included in the Fifth Avenue and Times Square JV, and (ii) the $300,000 mortgage loan on 7 West 34th Street. (4) Includes interests in 280 Park Avenue, 650 Madison Avenue, 7 West 34th Street, 512 West 22nd Street, 61 Ninth Avenue, 85 Tenth Avenue and others. (5) Includes interests in Independence Plaza, Pier 94 JV (see page 92 Based on our ownership interest in the partially owned entities above, our pro rata share of the debt of these partially owned entities was $2,654,701,000 and $2,697,226,000 as of December 31, 2023 and 2022, respectively. Summary of Condensed Combined Financial Information The following is a summary of condensed combined financial information for all of our partially owned entities. (Amounts in thousands) As of December 31, 2023 2022 Balance Sheet: Assets $ 11,533,000 $ 12,012,000 Liabilities 7,326,000 7,519,000 Noncontrolling interests 1,907,000 2,095,000 Equity 2,300,000 2,398,000 (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Income Statement: Total revenue $ 1,132,000 $ 1,189,000 $ 1,184,000 Net income (loss) 34,000 (404,000) 190,000 Net (loss) income attributable to the entities (40,000) (483,000) 114,000

350 Park Avenue

350 Park Avenue	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
350 Park Avenue	350 Park Avenue On January 24, 2023, we and the Rudin family (“Rudin”) completed agreements with Citadel Enterprise Americas LLC (“Citadel”) and with an affiliate of Kenneth C. Griffin, Citadel’s Founder and CEO (“KG”), for a series of transactions relating to 350 Park Avenue and 40 East 52nd Street. Pursuant to the agreements, Citadel master leases 350 Park Avenue, a 585,000 square foot Manhattan office building, on an “as is” basis for ten years, with an initial annual net rent of $36,000,000. Per the terms of the lease, no tenant allowance or free rent was provided. In the first quarter of 2023, we commenced revenue recognition of the master lease. Citadel has also master leased Rudin’s adjacent property at 40 East 52nd Street (390,000 square feet). In addition, we entered into a joint venture with Rudin (the “Vornado/Rudin JV”) which was formed to purchase 39 East 51st Street. Upon formation of the KG joint venture described below, 39 East 51st Street will be combined with 350 Park Avenue and 40 East 52nd Street to create a premier development site (collectively, the “Site”). On June 20, 2023, the Vornado/Rudin JV completed the purchase of 39 East 51st Street for $40,000,000, which was funded on a 50/50 basis by Vornado and Rudin. From October 2024 to June 2030, KG will have the option to either: • acquire a 60% interest in a joint venture with the Vornado/Rudin JV that would value the Site at $1.2 billion ($900,000,000 to Vornado and $300,000,000 to Rudin) and build a new 1,700,000 square foot office tower (the “Project”) pursuant to East Midtown Subdistrict zoning with the Vornado/Rudin JV as developer. KG would own 60% of the joint venture and the Vornado/Rudin JV would own 40% (with Vornado owning 36% and Rudin owning 4% of the joint venture along with a $250,000,000 preferred equity interest in the Vornado/Rudin JV). ◦ at the joint venture formation, Citadel or its affiliates will execute a pre-negotiated 15-year anchor lease with renewal options for approximately 850,000 square feet (with expansion and contraction rights) at the Project for its primary office in New York City; ◦ the rent for Citadel’s space will be determined by a formula based on a percentage return (that adjusts based on the actual cost of capital) on the total Project cost; ◦ the master leases will terminate at the scheduled commencement of demolition; • or, exercise an option to purchase the Site for $1.4 billion ($1.085 billion to Vornado and $315,000,000 to Rudin), in which case the Vornado/Rudin JV would not participate in the new development. Further, the Vornado/Rudin JV will have the option from October 2024 to September 2030 to put the Site to KG for $1.2 billion ($900,000,000 to Vornado and $300,000,000 to Rudin). For ten years following any put option closing, unless the put option is exercised in response to KG’s request to form the joint venture or KG makes a $200,000,000 termination payment, the Vornado/Rudin JV will have the right to invest in a joint venture with KG on the terms described above if KG proceeds with development of the Site.

Dispositions

Dispositions	12 Months Ended
	Dec. 31, 2023
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Dispositions	Dispositions The Armory Show On July 3, 2023, we completed the sale of The Armory Show, located in New York, for $24,410,000, subject to certain post-closing adjustments, and realized net proceeds of $22,489,000. In connection with the sale, we recognized a net gain of $20,181,000 which is included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income. Manhattan Retail Properties Sale On August 10, 2023, we completed the sale of four Manhattan retail properties located at 510 Fifth Avenue, 148–150 Spring Street, 443 Broadway and 692 Broadway for $100,000,000 and realized net proceeds of $95,450,000. In connection with the sale, we recognized an impairment loss of $625,000 which is included in “impairment losses, transaction related costs and other” on our consolidated statements of income. 220 Central Park South During the year ended December 31, 2023, we closed on the sale of two condominium units at 220 CPS for net proceeds of $24,484,000 resulting in a financial statement net gain of $14,127,000 which is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. In connection with these sales, $2,168,000 of income tax expense was recognized on our consolidated statements of income.

Identified Intangible Assets an

Identified Intangible Assets and Liabilities	12 Months Ended
	Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Identified Intangible Assets and Liabilities	Identified Intangible Assets and Liabilities The following summarizes our identified intangible assets (primarily in-place and above-market leases) and liabilities (primarily below-market leases). (Amounts in thousands) Balance as of December 31, 2023 2022 Identified intangible assets: Gross amount $ 225,671 $ 237,777 Accumulated amortization (98,589) (98,139) Total, net $ 127,082 $ 139,638 Identified intangible liabilities (included in deferred revenue): Gross amount $ 206,771 $ 244,396 Accumulated amortization (178,282) (208,592) Total, net $ 28,489 $ 35,804 Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $5,268,000, $5,178,000 and $9,249,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: (Amounts in thousands) 2024 $ 2,451 2025 964 2026 321 2027 (148) 2028 (47) Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $8,342,000, $10,516,000 and $7,330,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: (Amounts in thousands) 2024 $ 6,843 2025 5,810 2026 5,615 2027 5,308 2028 4,173

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt Secured Debt 150 West 34th Street On January 9, 2023, our $105,000,000 participation in the $205,000,000 mortgage loan on 150 West 34th Street was repaid, which reduced “other assets” and “mortgages payable, net” on our consolidated balance sheets by $105,000,000. On October 4, 2023, we completed a $75,000,000 refinancing of 150 West 34th Street, of which $25,000,000 is recourse to the Operating Partnership. The interest-only loan bears a rate of SOFR plus 2.15% and matures in February 2025, with three one-year as-of-right extension options and an additional one-year extension option available subject to satisfying a loan-to-value test. The interest rate on the loan is subject to an interest rate cap arrangement with a SOFR strike rate of 5.00% , which matures in February 2026. The loan replaces the previous $100,000,000 loan, which bore interest at SOFR plus 1.86% . 1290 Avenue of the Americas On June 29, 2023, we entered into a forward two-year 1.00% SOFR interest rate cap arrangement for the $950,000,000 SOFR plus 1.62% mortgage loan. We made a $63,100,000 up-front payment (of which $18,930,000 is attributable to noncontrolling interests), which was recorded to “other assets” on our consolidated balance sheets. The forward cap was effective upon the November 2023 expiration of the previous 3.89% SOFR interest rate cap. 9. Debt - continued The following is a summary of our debt: (Amounts in thousands) Weighted Average Interest Rate as of December 31, 2023 (1) Balance as of December 31, 2023 2022 Mortgages Payable: Fixed rate (2) 3.42% $ 4,518,200 $ 3,570,000 Variable rate (3) 6.23% 1,211,415 2,307,615 Total 4.01% 5,729,615 5,877,615 Deferred financing costs, net and other (41,595) (48,597) Total, net $ 5,688,020 $ 5,829,018 Unsecured Debt: Senior unsecured notes 3.02% $ 1,200,000 $ 1,200,000 Deferred financing costs, net and other (6,127) (8,168) Senior unsecured notes, net 1,193,873 1,191,832 Unsecured term loan 4.79% 800,000 800,000 Deferred financing costs, net and other (5,441) (6,807) Unsecured term loan, net 794,559 793,193 Unsecured revolving credit facilities 3.87% 575,000 575,000 Total, net $ 2,563,432 $ 2,560,025 ________________________________________ (1) Represents the interest rate in effect as of period end based on the appropriate reference rate as of the contractual reset date plus contractual spread, adjusted for hedging instruments, as applicable. See Note 15 - Fair Value Measurements for further information on our consolidated hedging instruments. (2) Includes variable rate mortgages with interest rates fixed by interest rate swap arrangements and the $950,000 1290 Avenue of the Americas mortgage loan which is subject to a 1.00% SOFR interest rate cap arrangement. (3) Includes variable rate mortgages subject to interest rate cap arrangements, except for the 1290 Avenue of the Americas mortgage loan discussed above. As of December 31, 2023, $1,034,119 of our variable rate debt is subject to interest rate cap arrangements. The interest rate cap arrangements have a weighted average strike rate of 4.50% and a weighted average remaining term of 10 months. The net carrying amount of properties collateralizing the above indebtedness amounted to $5.9 billion as of December 31, 2023. As of December 31, 2023, the principal maturities of mortgages payable and unsecured debt, including as-of-right extension options, for the next five years and thereafter are as follows: (Amounts in thousands) Mortgages Payable Unsecured Debt Year Ended December 31, 2024 $ 169,815 $ — 2025 879,800 450,000 2026 525,000 400,000 2027 1,580,000 1,375,000 2028 2,225,000 — Thereafter 350,000 350,000

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interests Redeemable Noncontrolling Partnership Units Redeemable noncontrolling partnership units are primarily comprised of Class A Operating Partnership units held by third parties and are recorded at the greater of their carrying amount or redemption value at the end of each reporting period. Changes in the value from period-to-period are charged to “additional capital” in Vornado’s consolidated statements of changes in equity and to “partners’ capital” on the consolidated balance sheets of the Operating Partnership. Class A units may be tendered for redemption to the Operating Partnership for cash; Vornado, at its option, may assume that obligation and pay the holder either cash or Vornado common shares on a one-for-one basis. Because the number of Vornado common shares outstanding at all times equals the number of Class A units owned by Vornado, the redemption value of each Class A unit is equivalent to the market value of one Vornado common share, and a distribution made to a Class A unitholder is equal to the dividend paid to a Vornado common shareholder. Below are the details of redeemable noncontrolling partnership units. (Amounts in thousands, except units and per unit amounts) Balance as of December 31, Units Outstanding as of December 31, Per Unit Preferred or Unit Series 2023 2022 2023 2022 Common: Class A units held by third parties $ 480,251 (1) $ 345,157 (1) 17,000,030 14,416,891 n/a $ 0.675 Perpetual Preferred/Redeemable Preferred: 3.25% D-17 Cumulative Redeemable (2) $ 3,535 $ 3,535 141,400 141,400 $ 25.00 $ 0.8125 ________________________________________ (1) As of December 31, 2023 and 2022, the aggregate redemption value of redeemable Class A units of the Operating Partnership, was $480,251,000 and $300,015,000, respectively, based on Vornado’s quarter-end closing common share price. (2) Holders may tender units for redemption to the Operating Partnership for cash at their stated redemption amount; Vornado, at its option, may assume that obligation and pay the holders either cash or Vornado preferred shares on a one-for-one basis. These units are redeemable at Vornado's option at any time. Below is a table summarizing the activity of redeemable noncontrolling partnership units. (Amounts in thousands) For the Year Ended December 31, 2023 2022 Beginning balance $ 348,692 $ 590,975 Net income (loss) 3,361 (30,376) Other comprehensive (loss) income (9,340) 14,250 Distributions (10,783) (30,311) Redemption of Class A units for Vornado common shares, at redemption value (8,489) (3,524) Redeemable Class A unit measurement adjustment 138,114 (221,145) Other, net 22,231 28,823 Ending balance $ 483,786 $ 348,692 Redeemable noncontrolling partnership units exclude our Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units, as they are accounted for as liabilities in accordance with ASC Topic 480, Distinguishing Liabilities and Equity. Accordingly, the fair value of these units is included as a component of "other liabilities" on our consolidated balance sheets and aggregated $49,386,000 and $49,383,000 as of December 31, 2023 and 2022, respectively. Changes in the value from period-to-period, if any, are charged to “interest and debt expense” on our consolidated statements of income. Redeemable Noncontrolling Interest in a Consolidated Subsidiary A consolidated joint venture in which we own a 95% interest, developed and owns the Farley Building (the "Farley Project"). During 2020, a historic tax credit investor (the "Tax Credit Investor") funded $92,400,000 of capital contributions to the Farley Project and on December 22, 2023, the Tax Credit Investor funded an additional $112,668,000 of capital contributions. The arrangement includes a put option whereby the joint venture may be obligated to purchase the Tax Credit Investor’s ownership interest in the Farley Project at a future date. The put price is calculated based on a pre-determined formula. As exercise of the put option is outside of the joint venture’s control, the Tax Credit Investor’s interest, together with the put option, have been recorded to “redeemable noncontrolling interest in a consolidated subsidiary” on our consolidated balance sheets. The redeemable noncontrolling interest is recorded at the greater of the carrying amount or redemption value at the end of each reporting period. Changes in the value from period-to-period are charged to “additional capital” in Vornado’s consolidated statements of changes in equity and to “partners’ capital” on the consolidated balance sheets of the Operating Partnership. There was no adjustment required for the years ended December 31, 2023 and 2022. 10. Redeemable Noncontrolling Interests - continued Redeemable Noncontrolling Interest in a Consolidated Subsidiary - continued Below is a table summarizing the activity of the redeemable noncontrolling interest in a consolidated subsidiary. For the Year Ended December 31, (Amounts in thousands) 2023 2022 Beginning balance $ 88,040 $ 97,708 Net loss (39,385) (9,668) Contributions 112,668 — Distributions (6,661) — Ending balance $ 154,662 $ 88,040

Shareholders' Equity_Partners'

Shareholders' Equity/Partners' Capital	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Shareholders' Equity/Partners' Capital	Shareholders' Equity/Partners' Capital Common Shares (Vornado Realty Trust) As of December 31, 2023, there were 190,390,703 common shares outstanding. During 2023, we paid an aggregate of $129,066,000 of common dividends at an annual rate of $0.675 per share. Class A Units (Vornado Realty L.P.) As of December 31, 2023, there were 190,390,703 Class A units outstanding that were held by Vornado. These units are classified as “partners’ capital” on the consolidated balance sheets of the Operating Partnership. As of December 31, 2023, there were 17,000,030 Class A units outstanding, that were held by third parties. These units are classified outside of “partners’ capital” as “redeemable partnership units” on the consolidated balance sheets of the Operating Partnership (see Note 10 – Redeemable Noncontrolling Interests ). During 2023, the Operating Partnership paid an aggregate of $129,066,000 of distributions to Vornado at an annual rate of $0.675 per unit. Share Repurchase Program On April 26, 2023, our Board of Trustees authorized a share repurchase plan under which Vornado is authorized to repurchase up to $200,000,000 of its outstanding common shares. To the extent Vornado repurchases any of its common shares, in order to fund the common share repurchase and maintain the one-to-one ratio of the number of Vornado common shares outstanding and the number of Class A units owned by Vornado, the Operating Partnership will repurchase from Vornado an equal number of its Class A units at the same price. Share repurchases may be made from time to time in the open market, through privately negotiated transactions or through other means as permitted by federal securities laws, including through block trades, accelerated share repurchase transactions and/or trading plans intended to qualify under Rule 10b5-1. The timing, manner, price and amount of any repurchases will be determined in Vornado’s discretion depending on business, economic and market conditions, corporate and regulatory requirements, prevailing prices for Vornado’s common shares, alternative uses for capital and other considerations. The program does not have an expiration date and may be suspended or discontinued at any time and does not obligate Vornado to make any repurchases of its common shares. During the year ended December 31, 2023, we repurchased 2,024,495 common shares for $29,143,000 at an average price per share of $14.40. As of December 31, 2023, $170,857,000 remained available and authorized for repurchases. The Operating Partnership repurchased Class A units from Vornado equivalent to the number and price of common shares repurchased by Vornado during the same periods. 11. Shareholders' Equity/Partners' Capital - continued Preferred Shares/Units The following table sets forth the details of our preferred shares of beneficial interest and the preferred units of the Operating Partnership outstanding as of December 31, 2023 and 2022. During 2023, we paid $62,116,000 in preferred dividends. (Amounts in thousands, except share/unit and per share/per unit amounts) Per Share/Unit Preferred Shares/Units Balance Shares/Units Outstanding Liquidation Annual (1) Convertible Preferred: 6.5% Series A: authorized 12,902 shares/units (2) $ 920 12,902 $ 50.00 $ 3.25 Cumulative Redeemable Preferred (3) : 5.40% Series L: authorized 13,800,000 shares/units 290,306 12,000,000 25.00 1.35 5.25% Series M: authorized 13,800,000 shares/units 308,946 12,780,000 25.00 1.3125 5.25% Series N: authorized 12,000,000 shares/units 291,134 12,000,000 25.00 1.3125 4.45% Series O: authorized 12,000,000 shares/units 291,153 12,000,000 25.00 1.1125 $ 1,182,459 48,792,902 ________________________________________ (1) Dividends on preferred shares and distributions on preferred units are cumulative and are payable quarterly in arrears. (2) Redeemable at the option of Vornado under certain circumstances, at a redemption price of 1.9531 common shares/Class A units per Series A preferred share/unit plus accrued and unpaid dividends/distributions through the date of redemption, or convertible at any time at the option of the holder for 1.9531 common shares/Class A units per Series A preferred share/unit. (3) Series L and Series M preferred shares/units are redeemable at Vornado's option at a redemption price of $25.00 per share/unit, plus accrued and unpaid dividends/distributions through the date of redemption. Series N preferred shares/units are redeemable commencing November 2025 and Series O preferred shares/units are redeemable commencing September 2026, each at a redemption price of $25.00 per share/unit.

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Vornado’s 2023 Omnibus Share Plan provides the Compensation Committee of Vornado’s Board of Trustees (the “Compensation Committee”) the ability to grant incentive and non-qualified Vornado stock options, restricted Vornado common shares, restricted Operating Partnership units (“LTIP Units”), out-performance plan awards (“OPP Units”), appreciation-only long-term incentive plan units (“AO LTIP Units”), performance conditioned appreciation-only long-term incentive plan units (“Performance AO LTIP Units”), and long-term performance plan units (“LTPP Units”) to certain of our employees and officers. Vornado’s 2023 Omnibus Share Plan was approved on May 18, 2023, as discussed on the following page. We account for forfeitures as they occur and any previously recognized compensation cost is reversed in the period that an award is forfeited. Below is a summary of our stock-based compensation expense, a component of "general and administrative" expense on our consolidated statements of income. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 LTIP Units $ 22,179 $ 21,086 $ 27,698 Performance AO LTIP Units 11,426 94 219 LTPP Units 7,189 5,145 — OPP Units 1,992 1,906 8,629 Vornado stock options 162 296 456 Vornado restricted stock 159 292 450 AO LTIP Units 94 430 877 $ 43,201 $ 29,249 $ 38,329 Below is a summary of unrecognized stock-based compensation expense as of December 31, 2023. (Amounts in thousands) As of December 31, 2023 Weighted-Average Performance AO LTIP Units $ 37,284 2.1 LTIP Units 29,550 1.9 LTPP Units 5,004 1.6 OPP Units 1,206 1.3 $ 73,044 2.0 12. Stock-based Compensation - continued On May 18, 2023, our shareholders approved the 2023 Omnibus Share Plan (the “Plan”), which replaced the 2019 Omnibus Share Plan. Under the Plan, awards may be granted up to a maximum 10,800,000 shares, if all awards granted are Full Value awards, as defined in the Plan, and up to 21,600,000 shares, if all of the awards granted are Not Full Value Awards, as defined in the Plan. Full Value Awards are securities that have a value equivalent to the underlying Vornado common share or Class A unit of the Operating Partnership, such as restricted Vornado common shares or LTIP Units. Vornado stock options, AO LTIP Units and Performance AO LTIP Units are Not Full Value Awards; these securities require the payment of an exercise price. As of December 31, 2023, Vornado has approximately 1,217,000 shares available for future grants under the Plan, if all awards granted are Full Value Awards, as defined. LTPP Units LTPP Units are multi-year, LTIP units-based performance equity compensation plans. On January 11, 2023, the Compensation Committee approved the 2023 Long-Term Performance Plan (“2023 LTPP”). Awards under the 2023 LTPP are bifurcated between operational performance (50%) and relative performance (50%) measurements and may be earned at specified threshold, target and maximum levels. The operational component awards may be earned based on Vornado’s 2023 operational performance in the following categories: • FFO, as adjusted per share (75% weighting); and • ESG performance metrics consisting of greenhouse emissions reductions, GRESB score and Green Building Certification (LEED) achievements (aggregate 25% weighting). Any LTPP award units tentatively earned based on Vornado’s 2023 operational performance are subject to an absolute return modifier pursuant to which such award units are subject to a potential reduction (but not increase) of up to 30% if Vornado’s three-year total shareholder return (“TSR”) is below specified levels. Awards under relative components may be earned based on Vornado’s three-year TSR, measured against the Dow Jones U.S. Real Estate Office Index (50% weighting) and a Northeast peer group custom index (50% weighting). Awards earned under the relative component of the 2023 LTPP are subject to reductions of up to 30% if Vornado’s three-year TSR is below specified levels. If the designated performance objectives are achieved, awards earned under 2023 LTPP will vest 50% in January 2026 and 50% in January 2027. In addition, the Chief Executive Officer is required to hold any earned and vested awards for three years following each such vesting date and all other award recipients are required to hold such awards for one year following each such vesting date. Dividends on awards granted under the 2023 LTPP accrue during the applicable performance period and are paid to participants if awards are ultimately earned based on the achievement of the designated performance objectives. LTPP Units granted during the years ended December 31, 2023 and 2022 had grant date fair values of $9,491,000 and $7,847,000, respectively. During the years ended December 31, 2023 and 2022, $4,670,000 and $4,033,000, respectively, was immediately expensed on the respective grant date due to acceleration of vesting for employees who are retirement eligible (have reached age 65 or age 60 with at least 20 years of service). OPP Units OPP Units are multi-year, performance-based equity compensation plans under which participants have the opportunity to earn a class of units of the Operating Partnership if, and only if, Vornado outperforms a predetermined TSR and/or outperforms the market with respect to a relative TSR during the four-year performance period. OPP units, if earned, become convertible into Class A units of the Operating Partnership (and ultimately into Vornado common shares) following vesting. OPP units granted during the year ended December 31, 2021 had a total notional value of $30,000,000 and a fair value of $9,950,000, of which $6,140,000 was immediately expensed on the grant date due to acceleration of vesting for employees who are retirement eligible (have reached age 65 or age 60 with at least 20 years of service). On March 30, 2023, the outstanding OPP Units issued in 2020 were forfeited as the requirements were not satisfied. 12. Stock-based Compensation – continued Vornado Stock Options Vornado stock options are granted at an exercise price equal to the average of the high and low market price of Vornado’s common shares on the NYSE on the date of grant, generally vest over four years and expire ten years from the date of grant. Compensation expense related to Vornado stock option awards is recognized on a straight-line basis over the vesting period. Below is a summary of Vornado’s stock option activity for the year ended December 31, 2023. Shares Weighted- Weighted- Outstanding as of December 31, 2022 176,705 $ 65.35 Forfeited (1,058) 52.30 Expired (17,546) 64.56 Outstanding as of December 31, 2023 158,101 $ 65.52 4.17 Options exercisable as of December 31, 2023 144,361 $ 66.78 3.99 There were no Vornado stock options granted during the years ended December 31, 2023, 2022 and 2021. There were no Vornado stock options exercised during the year ended December 31, 2023. Cash received from Vornado stock option exercises for the years ended December 31, 2022 and 2021 was $7,000 and $22,000, respectively. The total intrinsic value of Vornado stock options exercised during the years ended December 31, 2022 and 2021 was $842 and $5,500, respectively. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable Vornado stock options was $0. Performance AO LTIP Units Performance AO LTIP Units are AO LTIP Units that require the achievement of certain performance conditions by a specified date or they are forfeited. If the performance conditions are met, once vested, the awards may be converted into Class A Operating Partnership units in the same manner as AO LTIP Units until ten years from the date of grant. On January 14, 2023, the outstanding Performance AO LTIP Units issued in 2019 expired as the performance conditions were not satisfied. On June 29, 2023, the Committee granted 14,368,750 Performance AO LTIP Units to a broad group of employees of the Company including its named executive officers (as identified in the Company’s proxy statement for its 2023 Annual Meeting of Shareholders). Each Performance AO LTIP Unit is potentially convertible into a number of Class A Units, determined by reference to the excess of the closing market price of Vornado common shares on the NYSE on the date of conversion over $16.87. The Performance AO LTIP Units can be converted until the 10th anniversary of the grant date, subject to satisfaction of the vesting and performance conditions described below. The Performance AO LTIP Units will vest with respect to 20% on the 3rd anniversary of the Grant Date, and the remaining 80% will vest on the 4th anniversary of the Grant Date, subject to the recipient’s continued employment with the Company, and subject to the following performance conditions: • No Performance AO LTIP Units are earned if the Applicable Price (defined below) is less than $21.0875 per share. • At an Applicable Price of $21.0875 per share (a 25% increase above the Grant Date share price), 33% of the Performance AO LTIP Units are earned. • At an Applicable Price of $25.3050 per share (a 50% increase above the Grant Date share price), 67% of the Performance AO LTIP Units are earned. • At an Applicable Price of $29.5225 per share (a 75% increase above the Grant Date share price), 100% of the Performance AO LTIP Units are earned. Linear interpolation applies for Applicable Prices between $21.0875 and $29.5225. “Applicable Price” means the highest average consecutive 20-trading day closing share price for Vornado’s common shares during the 10 years following the Grant Date. 12. Stock-based Compensation – continued Performance AO LTIP Units - continued Performance AO LTIP Units granted during the year ended December 31, 2023 had a fair value of $48,710,000. The fair value of each Performance AO LTIP Unit granted is estimated on the date of grant using an option-pricing model with the following weighted-average assumptions for grants in the year ended December 31, 2023: As of December 31, 2023 Expected volatility 33% Risk free interest rate 4% Expected dividend yield 6% Below is a summary of Performance AO LTIP Units activity for the year ended December 31, 2023. Shares Weighted- Weighted- Outstanding as of December 31, 2022 496,762 $ 62.62 Expired (496,762) 62.62 Granted 14,368,750 16.87 Outstanding as of December 31, 2023 14,368,750 $ 16.87 9.5 Options exercisable as of December 31, 2023 — $ — — As of December 31, 2023, the aggregate intrinsic value of outstanding Performance AO LTIP Units was $153,748,000. AO LTIP Units AO LTIP Units are a class of partnership interests in the Operating Partnership that are intended to qualify as “profits interests” for federal income tax purposes and generally only allow the recipient to realize value to the extent the fair market value of a Vornado common share exceeds the threshold level set at the time the AO LTIP Units are granted, subject to any vesting conditions applicable to the award. The threshold level is intended to be equal to 100% of the then fair market value of a Vornado common share on the date of grant. The value of vested AO LTIP Units is realized through conversion of the AO LTIP Units into Class A Operating Partnership units. AO LTIP Units have a term of ten years from the grant date. Each holder will generally receive special income allocations in respect of an AO LTIP Unit equal to 10% (or such other percentage specified in the applicable award agreement) of the income allocated in respect of a Class A Unit. Upon conversion of AO LTIP Units to Class A Units, holders will be entitled to receive in respect of each such AO LTIP Unit, on a per unit basis, a special distribution equal to 10% (or such other percentage specified in the applicable award agreement) of the distributions received by a holder of an equivalent number of Class A Units during the period from the grant date of the AO LTIP Units through the date of conversion. Below is a summary of AO LTIP Units activity for the year ended December 31, 2023. Shares Weighted- Weighted- Outstanding as of December 31, 2022 565,664 $ 59.93 Forfeited (3,797) 52.40 Expired (20,053) 59.62 Outstanding as of December 31, 2023 541,814 $ 59.99 5.24 Options exercisable as of December 31, 2023 499,882 $ 60.63 5.16 There were no AO LTIP Units granted during the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023, the aggregate intrinsic value of outstanding and exercisable AO LTIP Units was $0. 12. Stock-based Compensation – continued LTIP Units LTIP Units are granted at the average of the high and low market price of Vornado’s common shares on the NYSE on the date of grant, generally vest over a period of three On June 29, 2023, the Committee granted 2,394,801 LTIP Units to a broad group of employees of the Company including its named executive officers (as identified in the Company’s proxy statement for its 2023 Annual Meeting of Shareholders). The LTIP Units vest in two equal installments on the 3rd and 4th anniversaries of the grant date, respectively, subject to the recipient’s continued employment with the Company as of such dates, with each vesting tranche subject to an additional one-year post-vesting transfer restriction. The fair value of each LTIP Unit was based on the market value of Vornado’s common shares on the grant date less a discount for post-vesting transfer restrictions. Below is a summary of restricted LTIP unit activity for the year ended December 31, 2023. Unvested Units Units Weighted-Average Unvested as of December 31, 2022 985,916 $ 49.41 Granted 3,110,000 14.62 Vested (825,882) 45.04 Forfeited (59,875) 27.15 Unvested as of December 31, 2023 3,210,159 17.24 LTIP Units granted in 2023, 2022 and 2021 had a fair value of $45,468,000, $15,446,000 and $26,194,000, respectively. The fair value of LTIP Units that vested during the years ended December 31, 2023, 2022 and 2021 was $37,198,000, $25,158,000 and $36,541,000, respectively. Vornado Restricted Stock Vornado restricted stock awards are granted at the average of the high and low market price of Vornado’s common shares on the NYSE on the date of grant and generally vest over four years. Compensation expense related to Vornado’s restricted stock awards is recognized on a straight-line basis over the vesting period. Dividends paid on unvested Vornado restricted stock are charged directly to retained earnings and amounted to $2,000, $18,000 and $35,000 for the years ended December 31, 2023, 2022 and 2021, respectively. Below is a summary of Vornado’s restricted stock activity for the year ended December 31, 2023. Unvested Shares Shares Weighted-Average Unvested as of December 31, 2022 8,379 $ 55.64 Vested (5,093) 57.17 Forfeited (239) 53.31 Unvested as of December 31, 2023 3,047 53.26 There were no Vornado restricted stock awards granted during the years ended December 31, 2023, 2022 and 2021. The fair value of restricted stock that vested during the years ended December 31, 2023, 2022 and 2021 was $291,000, $428,000 and $567,000, respectively.

Income (Loss) Per Share_Income

Income (Loss) Per Share/Income (Loss) Per Class A Unit	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Income (Loss) Per Share/Income (Loss) Per Class A Unit	Income (Loss) Per Share/Income (Loss) Per Class A Unit Vornado Realty Trust Basic net income (loss) per common share is computed by dividing (i) net income (loss) attributable to common stockholders after allocation of dividends and undistributed earnings to participating securities by (ii) the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the dilutive impact of potential common shares and is computed after allocation of earnings to participating securities. Vornado’s participating securities include unvested restricted common shares. Employee stock options, OPP Units, AO LTIP Units, Performance AO LTIP Units and LTPP Units are included in the calculation of diluted income per share using the treasury stock method, if the effect is dilutive. Series A convertible preferred shares, Series G-1 through G-4 convertible preferred units, and Series D-13 redeemable preferred units, are included in the calculation of diluted income per share using the if-converted method, if the effect is dilutive. Net income (loss) is allocated to redeemable Class A units of the Operating Partnership on a one-for-one basis with Vornado common shares. As such, redemption of these units for Vornado common shares would not have a dilutive effect on income (loss) per common share. (Amounts in thousands, except per share amounts) For the Year Ended December 31, 2023 2022 2021 Numerator: Net income (loss) attributable to Vornado $ 105,494 $ (346,499) $ 175,999 Preferred share dividends (62,116) (62,116) (65,880) Series K preferred share issuance costs — — (9,033) Net income (loss) attributable to common shareholders 43,378 (408,615) 101,086 Distributions and earnings allocated to unvested participating securities (2) (18) (34) Numerator for basic and diluted income (loss) per common share $ 43,376 $ (408,633) $ 101,052 Denominator: Denominator for basic income (loss) per common share - weighted average shares 191,005 191,775 191,551 Effect of dilutive securities (1) : Share-based awards 851 — 571 Denominator for diluted income (loss) per common share - weighted average shares and assumed conversions 191,856 191,775 192,122 Income (loss) per common share: Basic $ 0.23 $ (2.13) $ 0.53 Diluted $ 0.23 $ (2.13) $ 0.53 ____________________ (1) The calculation of diluted income (loss) per common share for the years ended December 31, 2023, 2022, and 2021 excluded weighted average potential common shares of 3,458, 1,706, and 164, respectively, as their effect was antidilutive. 13. Income (Loss) Per Share/Income (Loss) Per Class A Unit – continued Vornado Realty L.P. Basic net income (loss) per Class A unit is computed by dividing (i) net income (loss) attributable to Class A unitholders after allocation of distributions and undistributed earnings to participating securities by (ii) the weighted average number of Class A units outstanding for the period. Diluted earnings per share reflects the dilutive impact of potential Class A units and is computed after allocation of earnings to participating securities. VRLP’s participating securities include unvested LTIP Units and LTPP Units for which the applicable performance vesting conditions were satisfied. Equity awards subject to market and/or performance vesting conditions, including Vornado stock options, OPP Units, AO LTIP Units, Performance AO LTIP Units and LTPP Units, are included in the calculation of diluted income per Class A unit using the treasury stock method. Convertible securities, including Series A convertible preferred shares, Series G-1 through G-4 convertible preferred units, and Series D-13 redeemable preferred units, are included in the calculation of diluted income per Class A unit using the if-converted method, if dilutive. (Amounts in thousands, except per unit amounts) For the Year Ended December 31, 2023 2022 2021 Numerator: Net income (loss) attributable to Vornado Realty L.P. $ 108,855 $ (376,875) $ 183,539 Preferred unit distributions (62,231) (62,231) (66,035) Series K preferred unit issuance costs — — (9,033) Net income (loss) attributable to Class A unitholders 46,624 (439,106) 108,471 Distributions and earnings allocated to participating securities (1,323) (2,215) (2,668) Numerator for basic and diluted income (loss) per Class A unit $ 45,301 $ (441,321) $ 105,803 Denominator: Denominator for basic income (loss) per Class A unit – weighted average units 205,105 205,315 204,728 Effect of dilutive securities (1) : Unit-based awards 851 — 916 Denominator for diluted income (loss) per Class A unit – weighted average units and assumed conversions 205,956 205,315 205,644 Income (loss) per Class A unit: Basic $ 0.22 $ (2.15) $ 0.52 Diluted $ 0.22 $ (2.15) $ 0.51 ____________________ (1) The calculation of diluted income (loss) per Class A unit for the years ended December 31, 2023, 2022, and 2021 excluded weighted average potential Class A units of 3,458, 1,706, and 164, respectively, as their effect was antidilutive.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Unconsolidated VIEs As of December 31, 2023 and 2022, we had several unconsolidated VIEs. We do not consolidate these entities because we are not the primary beneficiary and the nature of our involvement in the activities of these entities does not give us power over decisions that significantly affect these entities’ economic performance. We account for our investment in these entities under the equity method (see Note 5 – Investments in Partially Owned Entities ). As of December 31, 2023 and 2022, the carrying amount of assets related to our unconsolidated VIEs was $109,220,000 and $68,223,000, respectively, included in “investments in partially owned entities” on our consolidated balance sheets. Our maximum exposure to loss from our unconsolidated VIEs as of December 31, 2023 and 2022 was $196,394,000 and $68,223,000, respectively, which includes our completion guarantee provided to the lender of the Pier 94 JV in 2023. Consolidated VIEs Our most significant consolidated VIEs are the Operating Partnership (for Vornado), the Farley joint venture and certain properties that have noncontrolling interests. These entities are VIEs because the noncontrolling interests do not have substantive kick-out or participating rights. We consolidate these entities because we control all significant business activities. As of December 31, 2023, the total assets and liabilities of our consolidated VIEs, excluding the Operating Partnership, were $4,901,150,000 and $2,735,826,000 respectively. As of December 31, 2022, the total assets and liabilities of our consolidated VIEs, excluding the Operating Partnership, were $4,423,995,000 and $2,345,726,000, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC 820 defines fair value and establishes a framework for measuring fair value. The objective of fair value is to determine the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 – quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities as well as certain U.S. Treasury securities that are highly liquid and are actively traded in secondary markets; Level 2 – observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 – unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment is necessary to interpret Level 2 and 3 inputs in determining the fair value of our financial and non-financial assets and liabilities. Accordingly, our fair value estimates, which are made at the end of each reporting period, may be different than the amounts that may ultimately be realized upon sale or disposition of these assets. Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis Financial assets and liabilities that are measured at fair value on our consolidated balance sheets consist of (i) investments in U.S. Treasury bills (classified as available-for-sale), (ii) the assets in our deferred compensation plan (for which there is a corresponding liability on our consolidated balance sheets), (iii) loans receivable for which we have elected the fair value option under ASC Subtopic 825-10, Financial Instruments ("ASC 825-10"), (iv) interest rate swaps and caps and (v) mandatorily redeemable instruments (Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units). The tables below aggregate the fair values of these financial assets and liabilities by their levels in the fair value hierarchy. (Amounts in thousands) As of December 31, 2023 Total Level 1 Level 2 Level 3 Deferred compensation plan assets ($26,363 included in restricted cash and $78,883 in other assets) $ 105,246 $ 58,956 $ — $ 46,290 Loans receivable (included in investments in partially owned entities) 32,984 — — 32,984 Interest rate swaps and caps designated as a hedge (included in other assets) 138,772 — 138,772 — Interest rate caps not designated as a hedge (included in other assets) 4,154 — 4,154 — Total assets $ 281,156 $ 58,956 $ 142,926 $ 79,274 Mandatorily redeemable instruments (included in other liabilities) $ 49,386 $ 49,386 $ — $ — Interest rate swaps designated as a hedge (included in other liabilities) 7,239 — 7,239 — Interest rate caps not designated as a hedge (included in other liabilities) 4,092 — 4,092 — Total liabilities $ 60,717 $ 49,386 $ 11,331 $ — (Amounts in thousands) As of December 31, 2022 Total Level 1 Level 2 Level 3 Investments in U.S. Treasury bills (1) $ 471,962 $ 471,962 $ — $ — Deferred compensation plan assets ($7,763 included in restricted cash and $88,559 in other assets) 96,322 57,406 — 38,916 Loans receivable ($50,091 included in investments in partially owned entities and $4,306 in other assets) 54,397 — — 54,397 Interest rate swaps and caps designated as a hedge (included in other assets) 183,804 — 183,804 — Interest rate caps not designated as a hedge (included in other assets) 5,994 — 5,994 — Total assets $ 812,479 $ 529,368 $ 189,798 $ 93,313 Mandatorily redeemable instruments (included in other liabilities) $ 49,383 $ 49,383 $ — $ — Interest rate caps not designated as a hedge (included in other liabilities) 2,741 — 2,741 — Total liabilities $ 52,124 $ 49,383 $ 2,741 $ — ____________________ (1) During the year ended December 31, 2023, we realized proceeds of $477,000 from maturing U.S. Treasury bills. 15. Fair Value Measurements - continued Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - continued Deferred Compensation Plan Assets Deferred compensation plan assets that are classified as Level 3 consist of investments in limited partnerships and investment funds, which are managed by third parties. We receive quarterly financial reports that provide net asset values on a fair value basis from a third-party administrator, which are compiled from the quarterly reports provided to them from each limited partnership and investment fund. The period of time over which these underlying assets are expected to be liquidated is unknown. The third-party administrator does not adjust these values in determining our share of the net assets and we do not adjust these values when reported in our consolidated financial statements. The table below summarizes the changes in the fair value of deferred compensation plan assets that are classified as Level 3. (Amounts in thousands) For the Year Ended December 31, 2023 2022 Beginning balance $ 38,916 $ 45,016 Purchases 7,855 4,507 Sales (5,080) (9,941) Realized and unrealized gains (losses) 982 (3,781) Other, net 3,617 3,115 Ending balance $ 46,290 $ 38,916 Loans Receivable Loans receivable consist of loan investments in real estate related assets for which we have elected the fair value option under ASC 825-10. These investments are classified as Level 3. Significant unobservable quantitative inputs used in determining the fair value of each investment include capitalization rates and discount rates. These rates are based on the location, type and nature of each property, current and anticipated market conditions, industry publications and from the experience of our Acquisitions and Capital Markets departments. Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of these loans receivable. As of December 31, 2023 December 31, 2022 Unobservable quantitative inputs (range and weighted average): Discount rates 8.0% 7.5% Terminal capitalization rates 5.5% 5.5% The table below summarizes the changes in fair value of loans receivable that are classified as Level 3. (Amounts in thousands) For the Year Ended December 31, 2023 2022 Beginning balance $ 54,397 $ 50,182 Credit losses (26,155) (1) — Interest accrual 5,153 4,748 Paydowns (411) (533) Ending balance $ 32,984 $ 54,397 ____________________ (1) Includes a $21,114 impairment loss on advances made for our interest in a joint venture, resulting from a decline in the value of the underlying building. The loss was included in “income (loss) from partially owned entities” on our consolidated statements of income for the year ended December 31, 2023. 15. Fair Value Measurements - continued Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - continued Derivatives and Hedging We use derivative instruments principally to reduce our exposure to interest rate increases. We do not enter into or hold derivative instruments for speculative trading purposes. We recognize the fair values of all derivatives in "other assets" or "other liabilities" on our consolidated balance sheets. Changes in the fair value of our cash flow hedges are recognized in other comprehensive income until the hedged item is recognized in earnings. Reported net income and equity may increase or decrease prospectively, depending on future levels of interest rates and other variables affecting the fair values of hedging instruments and hedged items, but will have no effect on cash flows. Cash payments and receipts related to our interest rate hedges are classified as operating activities and included within our disclosure of cash paid for interest on our consolidated statements of cash flows, consistent with the classification of the hedged interest payments. The following table summarizes our consolidated hedging instruments, all of which hedge variable rate debt, as of December 31, 2023 and 2022, respectively. (Amounts in thousands) As of December 31, 2023 As of Notional Amount All-In Swapped Rate Swap/Cap Expiration Date Fair Value Asset Fair Value Liability Fair Value Asset Interest rate swaps: 555 California Street mortgage loan: In-place swap $ 840,000 (1) 2.29% 05/24 $ 15,494 $ — $ 49,888 Forward swap (effective 05/24) 840,000 (1) 6.03% 05/26 — 6,091 — 770 Broadway mortgage loan 700,000 4.98% 07/27 20,306 — 29,226 PENN 11 mortgage loan: In-place swap 500,000 2.22% 03/24 4,702 — 26,587 Forward swap (effective 03/24) 250,000 (2) 6.34% 10/25 — 1,148 — Unsecured revolving credit facility 575,000 3.87% 08/27 17,064 — 24,457 Unsecured term loan (3) 700,000 4.52% (3) 11,089 — 21,024 100 West 33rd Street mortgage loan 480,000 5.06% 06/27 3,550 — 6,886 888 Seventh Avenue mortgage loan 200,000 (4) 4.76% 09/27 4,340 — 6,544 4 Union Square South mortgage loan 98,200 (5) 3.74% 01/25 2,327 — 4,050 Interest rate caps: 1290 Avenue of the Americas mortgage loan 950,000 (6) 11/25 53,784 — 7,590 One Park Avenue mortgage loan 525,000 (7) 03/25 5,297 — 5,472 Various mortgage loans 819 — 2,080 $ 138,772 $ 7,239 $ 183,804 ________________________________________ (1) Represents our 70.0% share of the $1.2 billion mortgage loan. In March 2023, we entered into the forward swap arrangement detailed above. (2) In January 2024, we entered into a forward swap arrangement for the remaining $250,000 balance of the $500,000 PENN 11 mortgage loan which is effective upon the March 2024 expiration of the current in-place swap. Together with the forward swap above, the loan will bear interest at an all-in swapped rate of 6.28% effective March 2024 through October 2025. (3) Represents the aggregate fair value of various interest rate swap arrangements to hedge interest payments on our unsecured term loan, which matures in December 2027. The impact of these interest rate swap arrangements is detailed below: Swapped Balance All-In Swapped Rate Unswapped Balance Through 07/25 $ 700,000 4.52% $ 100,000 07/25 through 10/26 550,000 4.35% 250,000 10/26 through 08/27 50,000 4.03% 750,000 2022 includes the fair value of a $100,000 notional swap which expired in October 2023. (4) The remaining $59,800 mortgage loan balance bears interest at a floating rate of SOFR plus 1.80% (7.14% as of December 31, 2023). (5) The remaining $21,800 mortgage loan balance bears interest at a floating rate of SOFR plus 1.50% (6.84% as of December 31, 2023). (6) Current SOFR strike rate of 1.00%. In connection with the arrangement, we made a $63,100 up-front payment, of which $18,930 was attributable to noncontrolling interests. See Note 9 - Debt for further information. (7) Current SOFR cap strike rate of 3.89%. In March 2023, we entered into a forward cap arrangement which is effective upon the March 2024 expiration of the current in-place cap and expires in March 2025. The forward cap has a SOFR strike rate of 3.89%. 15. Fair Value Measurements - continued Fair Value Measurements on a Nonrecurring Basis During the years ended December 31, 2023 and 2022, we recognized impairment losses on certain real estate investments. The following table sets forth the details of our impairment losses. (Amounts in thousands) As of and For The Years Ended December 31, 2023 December 31, 2022 Aggregate Fair Value Impairment Losses Aggregate Fair Value Impairment Losses Consolidated real estate assets $ 55,097 $ 45,007 (1) $ 80,008 $ 19,098 Investments in partially owned entities 21,473 29,344 (2) 2,272,320 583,212 (3) $ 76,570 $ 74,351 $ 2,352,328 $ 602,310 ________________________________________ (1) Includes $22,176 attributable to noncontrolling interests. (2) Excludes a $21,114 impairment loss on advances made for our interest in a joint venture. (3) Includes $6,822 attributable to noncontrolling interests. The fair value of these assets was measured using discounted cash flow analyses and level 3 inputs. Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of these real estate assets. As of December 31, 2023 December 31, 2022 Unobservable Quantitative Input Range Weighted Average Range Weighted Average Discount rates 7.50% - 8.00% 7.99% 7.50% - 8.00% 7.52% Terminal capitalization rates 5.50% 5.50% 4.75% - 5.50% 4.78% Financial Assets and Liabilities not Measured at Fair Value Financial assets and liabilities that are not measured at fair value on our consolidated balance sheets include cash equivalents (primarily money market funds, which invest in obligations of the United States government) and our secured and unsecured debt. Estimates of the fair value of these instruments are determined by the standard practice of modeling the contractual cash flows required under the instrument and discounting them back to their present value at the appropriate current risk adjusted interest rate, which is provided by a third-party specialist. For floating rate debt, we use forward rates derived from observable market yield curves to project the expected cash flows we would be required to make under the instrument. The fair value of cash equivalents and borrowings under our unsecured revolving credit facilities and unsecured term loan are classified as Level 1. The fair value of our secured debt and unsecured debt are classified as Level 2. The table below summarizes the carrying amounts and fair value of these financial instruments. (Amounts in thousands) As of December 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Cash equivalents $ 825,720 $ 826,000 $ 402,903 $ 403,000 Debt: Mortgages payable $ 5,729,615 $ 5,569,000 $ 5,877,615 $ 5,697,000 Senior unsecured notes 1,200,000 1,069,000 1,200,000 1,021,000 Unsecured term loan 800,000 800,000 800,000 800,000 Unsecured revolving credit facilities 575,000 575,000 575,000 575,000 Total $ 8,304,615 (1) $ 8,013,000 $ 8,452,615 (1) $ 8,093,000 ________________________________________ (1) Excludes $53,163 and $63,572 of deferred financing costs, net and other as of December 31, 2023 and 2022, respectively.

Impairment Losses, Transaction

Impairment Losses, Transaction Related Costs and Other	12 Months Ended
	Dec. 31, 2023
Transaction Related Costs, Impairment Losses and Other [Abstract]
Impairment Losses, Transaction Related Costs and Other	Impairment losses, Transaction Related Costs and Other The following table sets forth the details of impairment losses, transaction related costs and other: (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Real estate impairment losses (1) $ 45,007 $ 19,098 $ 7,880 Transaction related costs and other 5,684 12,624 5,935 $ 50,691 $ 31,722 $ 13,815 ________________________________________ (1) See Note 15 - Fair Value Measurements for additional information. 2023 includes $22,176 of impairment loss attributable to noncontrolling interests.

Interest and Other Investment I

Interest and Other Investment Income, Net	12 Months Ended
	Dec. 31, 2023
Interest and Other Income [Abstract]
Interest and Other Investment Income, Net	Interest and Other Investment Income, Net The following table sets forth the details of interest and other investment income, net: (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Interest on cash and cash equivalents and restricted cash $ 44,786 $ 7,553 $ 284 Credit losses on investments (8,269) — — Amortization of discount on investments in U.S. Treasury bills 3,829 7,075 — Interest on loans receivable 1,351 5,006 2,517 Other, net — 235 1,811 $ 41,697 $ 19,869 $ 4,612

Interest and Debt Expense

Interest and Debt Expense	12 Months Ended
	Dec. 31, 2023
Interest and Debt Expense [Abstract]
Interest and Debt Expense	Interest and Debt Expense The following table sets forth the details of interest and debt expense: (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Interest expense (1) $ 368,984 $ 277,046 $ 249,169 Capitalized interest and debt expense (43,062) (19,085) (38,320) Amortization of deferred financing fees 23,301 21,804 20,247 $ 349,223 $ 279,765 $ 231,096 ________________________________________ (1) 2021 includes $23,729 of defeasance costs, of which $7,119 is attributable to noncontrolling interests, in connection with the refinancing of 1290 Avenue of the Americas, a property in which we own a 70% controlling interest.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases As lessor We lease space to tenants under operating leases. Most of the leases provide for the payment of fixed base rent payable monthly in advance. Leases typically provide for periodic step‑ups in rent over the term of the lease and pass through to tenants their share of increases in real estate taxes and operating expenses over a base year. Certain leases also require additional variable rent payments based on a percentage of the tenants’ sales. Electricity is provided to tenants on a sub-metered basis or included in rent based on surveys and adjusted for subsequent utility rate increases. Leases also typically provide for free rent and tenant improvement allowances for all or a portion of the tenant’s initial construction costs of its premises. As of December 31, 2023, future undiscounted cash flows under non-cancelable operating leases were as follows: (Amounts in thousands) As of December 31, 2023 For the year ended December 31, 2024 $ 1,271,885 2025 1,207,370 2026 1,168,555 2027 1,061,307 2028 962,067 Thereafter 6,254,989 As lessee We have a number of ground leases which are classified as operating leases. As of December 31, 2023, our ROU assets and lease liabilities were $680,044,000 and $732,859,000, respectively. As of December 31, 2022, our ROU assets and lease liabilities were $684,380,000 and $735,969,000, respectively. On August 28, 2023, upon contribution of the Pier 94 leasehold to Pier 94 JV, we derecognized a ROU asset of $7,081,000 and a lease liability of $20,692,000. See Note 5 - Investments in Partially Owned Entities for further details. When the rate implicit in a lease is not readily determinable, the discount rate applied to measure each ROU asset and lease liability is based on our incremental borrowing rate ("IBR"). We consider the general economic environment and our ratings and factor in various financing and asset specific adjustments to ensure the IBR is appropriate to the intended use of the underlying lease. Certain of our ground leases offer renewal options which we assess against relevant economic factors to determine whether we are reasonably certain of exercising or not exercising the option. Lease payments associated with renewal periods that we are reasonably certain will be exercised are included in the measurement of the lease liability and corresponding ROU asset. Certain of our ground leases are subject to fair market rent resets based on a percentage of the appraised value of the underlying assets at specified future dates. Fair market rent resets occurring during the lease term do not give rise to remeasurement of the related ROU assets and lease liabilities. Fair market rent resets occurring during the lease term, which may be material, will be recognized in the periods in which they are incurred as variable rent expense. The following table sets forth information related to the measurement of our lease liabilities. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Weighted average remaining lease term (in years) 47.9 48.4 44.4 Weighted average discount rate 5.59 % 5.54 % 4.85 % Cash paid for operating leases $ 22,499 $ 21,861 $ 22,382 We recognize rent expense as a component of "operating" expenses on our consolidated statements of income. Rent expense is comprised of fixed and variable lease payments. The following table sets forth the details of our rent expense. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Fixed rent expense $ 46,538 $ 45,211 $ 24,901 Variable rent expense 14,679 14,180 13,078 Rent expense $ 61,217 $ 59,391 $ 37,979 19. Leases - continued As lessee - continued As of December 31, 2023, future lease payments under operating ground leases were as follows: (Amounts in thousands) As of December 31, 2023 For the year ended December 31, 2024 $ 57,811 2025 46,227 2026 46,616 2027 47,027 2028 47,462 Thereafter 1,869,172 Total undiscounted cash flows 2,114,315 Present value discount (1,381,456) Lease liabilities $ 732,859 PENN 1 Our future lease payments disclosed above include payments for our PENN 1 ground lease based on an amount estimated in January 2022, when we exercised the second of three 25-year renewal options. The first renewal period commenced June 2023 and, together with the second option exercise, extends the lease term through June 2073. The ground lease is subject to fair market value resets at each 25-year renewal period. The rent reset process for the June 2023 renewal period is currently ongoing and the timing is uncertain. The final fair market value determination may be materially higher or lower than our January 2022 estimate. The Farley Building The future lease payments detailed above exclude the ground and building lease at the Farley Building. The consolidated joint venture, in which we own a 95% controlling interest, has a 99-year triple-net lease with Empire State Development ("ESD") for 847,000 rentable square feet of commercial space at the property, comprised of approximately 730,000 square feet of office space and approximately 117,000 square feet of restaurant and retail space. Our lease of the commercial space at the property is accounted for as a “failed sale-leaseback” as a result of us being deemed the "accounting owner" during development of the property in accordance with ASC 842-40-55 and the lease subsequently meeting "finance lease" classification pursuant to ASC 842-40-25 upon substantial completion. The lease calls for annual rent payments and fixed payments in lieu of real estate taxes ("PILOT") through June 2030. Following the fixed PILOT payment period, the PILOT is calculated in a manner consistent with buildings subject to New York City real estate taxes and assessments. As of December 31, 2023, future rent and fixed PILOT payments are $527,379,000.
Leases	Leases As lessor We lease space to tenants under operating leases. Most of the leases provide for the payment of fixed base rent payable monthly in advance. Leases typically provide for periodic step‑ups in rent over the term of the lease and pass through to tenants their share of increases in real estate taxes and operating expenses over a base year. Certain leases also require additional variable rent payments based on a percentage of the tenants’ sales. Electricity is provided to tenants on a sub-metered basis or included in rent based on surveys and adjusted for subsequent utility rate increases. Leases also typically provide for free rent and tenant improvement allowances for all or a portion of the tenant’s initial construction costs of its premises. As of December 31, 2023, future undiscounted cash flows under non-cancelable operating leases were as follows: (Amounts in thousands) As of December 31, 2023 For the year ended December 31, 2024 $ 1,271,885 2025 1,207,370 2026 1,168,555 2027 1,061,307 2028 962,067 Thereafter 6,254,989 As lessee We have a number of ground leases which are classified as operating leases. As of December 31, 2023, our ROU assets and lease liabilities were $680,044,000 and $732,859,000, respectively. As of December 31, 2022, our ROU assets and lease liabilities were $684,380,000 and $735,969,000, respectively. On August 28, 2023, upon contribution of the Pier 94 leasehold to Pier 94 JV, we derecognized a ROU asset of $7,081,000 and a lease liability of $20,692,000. See Note 5 - Investments in Partially Owned Entities for further details. When the rate implicit in a lease is not readily determinable, the discount rate applied to measure each ROU asset and lease liability is based on our incremental borrowing rate ("IBR"). We consider the general economic environment and our ratings and factor in various financing and asset specific adjustments to ensure the IBR is appropriate to the intended use of the underlying lease. Certain of our ground leases offer renewal options which we assess against relevant economic factors to determine whether we are reasonably certain of exercising or not exercising the option. Lease payments associated with renewal periods that we are reasonably certain will be exercised are included in the measurement of the lease liability and corresponding ROU asset. Certain of our ground leases are subject to fair market rent resets based on a percentage of the appraised value of the underlying assets at specified future dates. Fair market rent resets occurring during the lease term do not give rise to remeasurement of the related ROU assets and lease liabilities. Fair market rent resets occurring during the lease term, which may be material, will be recognized in the periods in which they are incurred as variable rent expense. The following table sets forth information related to the measurement of our lease liabilities. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Weighted average remaining lease term (in years) 47.9 48.4 44.4 Weighted average discount rate 5.59 % 5.54 % 4.85 % Cash paid for operating leases $ 22,499 $ 21,861 $ 22,382 We recognize rent expense as a component of "operating" expenses on our consolidated statements of income. Rent expense is comprised of fixed and variable lease payments. The following table sets forth the details of our rent expense. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Fixed rent expense $ 46,538 $ 45,211 $ 24,901 Variable rent expense 14,679 14,180 13,078 Rent expense $ 61,217 $ 59,391 $ 37,979 19. Leases - continued As lessee - continued As of December 31, 2023, future lease payments under operating ground leases were as follows: (Amounts in thousands) As of December 31, 2023 For the year ended December 31, 2024 $ 57,811 2025 46,227 2026 46,616 2027 47,027 2028 47,462 Thereafter 1,869,172 Total undiscounted cash flows 2,114,315 Present value discount (1,381,456) Lease liabilities $ 732,859 PENN 1 Our future lease payments disclosed above include payments for our PENN 1 ground lease based on an amount estimated in January 2022, when we exercised the second of three 25-year renewal options. The first renewal period commenced June 2023 and, together with the second option exercise, extends the lease term through June 2073. The ground lease is subject to fair market value resets at each 25-year renewal period. The rent reset process for the June 2023 renewal period is currently ongoing and the timing is uncertain. The final fair market value determination may be materially higher or lower than our January 2022 estimate. The Farley Building The future lease payments detailed above exclude the ground and building lease at the Farley Building. The consolidated joint venture, in which we own a 95% controlling interest, has a 99-year triple-net lease with Empire State Development ("ESD") for 847,000 rentable square feet of commercial space at the property, comprised of approximately 730,000 square feet of office space and approximately 117,000 square feet of restaurant and retail space. Our lease of the commercial space at the property is accounted for as a “failed sale-leaseback” as a result of us being deemed the "accounting owner" during development of the property in accordance with ASC 842-40-55 and the lease subsequently meeting "finance lease" classification pursuant to ASC 842-40-25 upon substantial completion. The lease calls for annual rent payments and fixed payments in lieu of real estate taxes ("PILOT") through June 2030. Following the fixed PILOT payment period, the PILOT is calculated in a manner consistent with buildings subject to New York City real estate taxes and assessments. As of December 31, 2023, future rent and fixed PILOT payments are $527,379,000.

Multiemployer Benefit Plans

Multiemployer Benefit Plans	12 Months Ended
	Dec. 31, 2023
Multiemployer Plan, Pension, Significant [Abstract]
Multiemployer Benefit Plans	Multiemployer Benefit Plans Our subsidiaries make contributions to certain multiemployer defined benefit plans (“Multiemployer Pension Plans”) and health plans (“Multiemployer Health Plans”) for our union represented employees, pursuant to the respective collective bargaining agreements. Multiemployer Pension Plans Multiemployer Pension Plans differ from single-employer pension plans in that (i) contributions to multiemployer plans may be used to provide benefits to employees of other participating employers and (ii) if other participating employers fail to make their contributions, each of our participating subsidiaries may be required to bear its then pro rata share of unfunded obligations. If a participating subsidiary withdraws from a plan in which it participates, it may be subject to a withdrawal liability. As of December 31, 2023, our subsidiaries’ participation in these plans was not significant to our consolidated financial statements. During the years ended December 31, 2023, 2022 and 2021, we contributed $7,913,000, $7,761,000 and $19,851,000, respectively, towards Multiemployer Pension Plans, which is included as a component of “operating” expenses on our consolidated statements of income. During the year ended December 31, 2021, the Company funded its pension withdrawal liability in relation to the permanent closure of Hotel Pennsylvania which resulted in the Company funding more than 5% of total employer contributions to the related plan for the year. For our other Multiemployer Pension Plans, our subsidiaries’ contributions did not represent more than 5% of total employer contributions for the years ended December 31, 2023, 2022 and 2021. Multiemployer Health Plans Multiemployer Health Plans in which our subsidiaries participate provide health benefits to eligible active and retired employees. During the years ended December 31, 2023, 2022 and 2021, our subsidiaries contributed $28,764,000, $26,514,000 and $23,431,000, respectively, towards these plans, which is included as a component of “operating” expenses on our consolidated statements of income.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Insurance For our properties, we maintain general liability insurance with limits of $300,000,000 per occurrence and per property, of which $275,000,000, increased from $250,000,000 effective June 20, 2023, includes communicable disease coverage, and we maintain all risk property and rental value insurance with limits of $2.0 billion per occurrence, with sub-limits for certain perils such as flood and earthquake, excluding communicable disease coverage. Our California properties have earthquake insurance with coverage of $350,000,000 per occurrence and in the aggregate, subject to a deductible in the amount of 5% of the value of the affected property. We maintain coverage for certified terrorism acts with limits of $6.0 billion per occurrence and in the aggregate (as listed below), $1.2 billion for non-certified acts of terrorism, and $5.0 billion per occurrence and in the aggregate for terrorism involving nuclear, biological, chemical and radiological (“NBCR”) terrorism events, as defined by the Terrorism Risk Insurance Act of 2002, as amended to date and which has been extended through December 2027. Penn Plaza Insurance Company, LLC (“PPIC”), our wholly owned consolidated subsidiary, acts as a re-insurer with respect to a portion of all risk property and rental value insurance and a portion of our earthquake insurance coverage, and as a direct insurer for coverage for acts of terrorism including NBCR acts. Coverage for acts of terrorism (excluding NBCR acts) is fully reinsured by third party insurance companies and the Federal government with no exposure to PPIC. For NBCR acts, PPIC is responsible for a deductible of $2,112,753 and 20% of the balance of a covered loss and the Federal government is responsible for the remaining portion of a covered loss. We are ultimately responsible for any loss incurred by PPIC. Certain condominiums in which we own an interest (including the Farley Condominiums) maintain insurance policies with different per occurrence and aggregate limits than our policies described above. We continue to monitor the state of the insurance market and the scope and costs of coverage for acts of terrorism and other events. However, we cannot anticipate what coverage will be available on commercially reasonable terms in the future. We are responsible for uninsured losses and for deductibles and losses in excess of our insurance coverage, which could be material. Our debt instruments, consisting of mortgage loans secured by our properties, senior unsecured notes and revolving credit agreements contain customary covenants requiring us to maintain insurance. Although we believe that we have adequate insurance coverage for purposes of these agreements, we may not be able to obtain an equivalent amount of coverage at reasonable costs in the future. Further, if lenders insist on greater coverage than we are able to obtain it could adversely affect our ability to finance or refinance our properties and expand our portfolio. Other Commitments and Contingencies We are from time to time involved in legal actions arising in the ordinary course of business. In our opinion, after consultation with legal counsel, the outcome of such matters is not currently expected to have a material adverse effect on our financial position, results of operations or cash flows. Each of our properties has been subjected to varying degrees of environmental assessment at various times. The environmental assessments did not reveal any material environmental contamination. However, there can be no assurance that the identification of new areas of contamination, changes in the extent or known scope of contamination, the discovery of additional sites, or changes in cleanup requirements would not result in significant costs to us. In July 2018, we leased 78,000 square feet at 345 Montgomery Street in San Francisco, CA, to a subsidiary of Regus PLC, for an initial term of 15 years. The obligations under the lease were guaranteed by Regus PLC in an amount of up to $90,000,000. The tenant purported to terminate the lease prior to space delivery. We commenced a suit on October 23, 2019 seeking to enforce the lease and the guaranty. On May 11, 2021, the court issued a final statement of decision in our favor and on January 31, 2023, the Court of Appeal affirmed the lower court's decision. On October 9, 2020, the successor to Regus PLC filed for bankruptcy in Luxembourg. In April 2023, we entered into a settlement with affiliates of the successor to Regus PLC, pursuant to which we agreed to discontinue all legal proceedings against the Regus PLC successor and its affiliates in exchange for a payment to us of $21,350,000, which is included in “rental revenues” on our consolidated statements of income for the year ended December 31, 2023, of which $6,405,000 is attributable to noncontrolling interest. 21. Commitments and Contingencies – continued Other Commitments and Contingencies - continued We may, from time to time, enter into guarantees including, but not limited to, payment guarantees to lenders of unconsolidated joint ventures for tax purposes, completion guarantees for development and redevelopment projects, and guarantees to fund leasing costs. These agreements terminate either upon the satisfaction of specified obligations or repayment of the underlying loans. As of December 31, 2023, the aggregate dollar amount of these guarantees is approximately $1,230,000,000, primarily comprised of payment guarantees for the mortgage loans secured by 640 Fifth Avenue, 7 West 34th Street, and 435 Seventh Avenue and the completion guarantee provided to the lender of Pier 94 JV. Other than these loans, our mortgage loans are non-recourse to us. As of December 31, 2023, $30,233,000 of letters of credit were outstanding under one of our unsecured revolving credit facilities. Our unsecured revolving credit facilities contain financial covenants that require us to maintain minimum interest coverage and maximum debt to market capitalization ratios, and provide for increased interest rates in the event of a decline in the credit rating assigned to our senior unsecured notes. Our unsecured revolving credit facilities also contain customary conditions precedent to borrowing, including representations and warranties, and also contain customary events of default that could give rise to accelerated repayment, including such items as failure to pay interest or principal. Our 95% consolidated joint venture (5% is owned by Related Companies ("Related")) developed and owns the Farley Building. In connection with the development of the property, the joint venture admitted a historic Tax Credit Investor partner. Under the terms of the historic tax credit arrangement, the joint venture is required to comply with various laws, regulations, and contractual provisions. Non-compliance with applicable requirements could result in projected tax benefits not being realized and, therefore, may require a refund or reduction of the Tax Credit Investor’s capital contributions. As of December 31, 2023, the Tax Credit Investor has made $205,068,000 in capital contributions. Vornado and Related have guaranteed certain of the joint venture’s obligations to the Tax Credit Investor. As of December 31, 2023, we have construction commitments aggregating approximately $91,372,000.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Alexander’s, Inc. We own 32.4% of Alexander’s. Steven Roth, the Chairman of Vornado’s Board of Trustee’s and its Chief Executive Officer, is also the Chairman of the Board of Directors and Chief Executive Officer of Alexander’s. We provide various services to Alexander’s in accordance with management, development and leasing agreements. These agreements are described in Note 5 - Investments in Partially Owned Entities . Interstate Properties (“Interstate”) Interstate is a general partnership in which Mr. Roth is the managing general partner. David Mandelbaum and Russell B. Wight, Jr., Trustees of Vornado and Directors of Alexander’s, respectively, are Interstate’s two other general partners. As of December 31, 2023, Interstate and its partners beneficially owned an aggregate of approximately 7.0% of the common shares of beneficial interest of Vornado and 26.0% of Alexander’s common stock. We manage and lease the real estate assets of Interstate pursuant to a management agreement for which we receive an annual fee equal to 4% of annual base rent and percentage rent. The management agreement has a term of one year and is automatically renewable unless terminated by either of the parties on 60 days’ notice at the end of the term. We believe, based upon comparable fees charged by other real estate companies, that the management agreement terms are consistent with the market. We earned $206,000, $204,000, and $203,000 of management fees under the agreement for the years ended December 31, 2023, 2022 and 2021, respectively. Fifth Avenue and Times Square JV We provide various services to Fifth Avenue and Times Square JV in accordance with management, development, leasing and other agreements. These agreements are described in Note 5 - Investments in Partially Owned Entities . Haim Chera, Executive Vice President - Head of Retail, has an investment in Crown Acquisitions Inc. and Crown Retail Services LLC (collectively, "Crown"), companies controlled by Mr. Chera's family. Crown has a nominal minority interest in Fifth Avenue and Times Square JV. Additionally, we have other investments with Crown.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information We operate in two reportable segments, New York and Other, which is based on how we manage our business. Net operating income ("NOI") at share represents total revenues less operating expenses including our share of partially owned entities. NOI at share - cash basis represents NOI at share adjusted to exclude straight-line rental income and expense, amortization of acquired below and above market leases, accruals for ground rent resets yet to be determined, and other non-cash adjustments. We consider NOI at share - cash basis to be the primary non-GAAP financial measure for making decisions and assessing the unlevered performance of our segments as it relates to the total return on assets as opposed to the levered return on equity. As properties are bought and sold based on NOI at share - cash basis, we utilize this measure to make investment decisions as well as to compare the performance of our assets to that of our peers. NOI at share and NOI at share - cash basis should not be considered alternatives to net income or cash flow from operations and may not be comparable to similarly titled measures employed by other companies. Asset information by segment is not reported as we do not use this measure to assess segment performance or to make resource allocation decisions. Below is a summary of NOI at share and NOI at share - cash basis by segment for the years ended December 31, 2023, 2022 and 2021. (Amounts in thousands) For the Year Ended December 31, 2023 Total New York Other Total revenues $ 1,811,163 $ 1,452,158 $ 359,005 Operating expenses (905,158) (733,478) (171,680) NOI - consolidated 906,005 718,680 187,325 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (48,553) (15,547) (33,006) Add: NOI from partially owned entities 285,761 274,436 11,325 NOI at share 1,143,213 977,569 165,644 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other (3,377) (7,700) 4,323 NOI at share - cash basis $ 1,139,836 $ 969,869 $ 169,967 (Amounts in thousands) For the Year Ended December 31, 2022 Total New York Other Total revenues $ 1,799,995 $ 1,449,442 $ 350,553 Operating expenses (873,911) (716,148) (157,763) NOI - consolidated 926,084 733,294 192,790 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (70,029) (45,566) (24,463) Add: NOI from partially owned entities 305,993 293,780 12,213 NOI at share 1,162,048 981,508 180,540 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other (10,980) (18,509) 7,529 NOI at share - cash basis $ 1,151,068 $ 962,999 $ 188,069 (Amounts in thousands) For the Year Ended December 31, 2021 Total New York Other Total revenues $ 1,589,210 $ 1,257,599 $ 331,611 Operating expenses (797,315) (626,386) (170,929) NOI - consolidated 791,895 631,213 160,682 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (69,385) (38,980) (30,405) Add: NOI from partially owned entities 310,858 300,721 10,137 NOI at share 1,033,368 892,954 140,414 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other 1,318 (1,188) 2,506 NOI at share - cash basis $ 1,034,686 $ 891,766 $ 142,920 23. Segment Information - continued Below is a reconciliation of net income (loss) to NOI at share and NOI at share - cash basis for the years ended December 31, 2023, 2022 and 2021. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Net income (loss) $ 32,888 $ (382,612) $ 207,553 Depreciation and amortization expense 434,273 504,502 412,347 General and administrative expense 162,883 133,731 134,545 Impairment losses, transaction related costs and other 50,691 31,722 13,815 (Income) loss from partially owned entities (38,689) 461,351 (130,517) Income from real estate fund investments (1,590) (3,541) (11,066) Interest and other investment income, net (41,697) (19,869) (4,612) Interest and debt expense 349,223 279,765 231,096 Net gains on disposition of wholly owned and partially owned assets (71,199) (100,625) (50,770) Income tax expense (benefit) 29,222 21,660 (10,496) NOI from partially owned entities 285,761 305,993 310,858 NOI attributable to noncontrolling interests in consolidated subsidiaries (48,553) (70,029) (69,385) NOI at share 1,143,213 1,162,048 1,033,368 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other (3,377) (10,980) 1,318 NOI at share - cash basis $ 1,139,836 $ 1,151,068 $ 1,034,686

SEC Schedule III Real Estate an

SEC Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III Real Estate and Accumulated Depreciation	COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Encumbrances (1) Initial cost to company Costs Gross amount at which Accumulated Date of construction (3) Date Life on which Land Buildings Land Buildings Total (2) New York Manhattan 1290 Avenue of the Americas $ 950,000 $ 518,244 $ 926,992 $ 257,295 $ 518,244 $ 1,184,287 $ 1,702,531 $ 495,262 1963 2007 (4) One Park Avenue 525,000 197,057 369,016 15,684 197,057 384,700 581,757 25,714 1926 2021 (4) 350 Park Avenue 400,000 265,889 363,381 108,646 306,034 431,882 737,916 181,322 1960 2006 (4) PENN 1 — — 412,169 914,769 — 1,326,938 1,326,938 435,128 1972 1998 (4) 100 West 33rd Street 480,000 331,371 361,443 78,189 331,371 439,632 771,003 186,718 1911/2009 2007 (4) 150 West 34th Street 75,000 119,657 268,509 — 119,657 268,509 388,166 57,618 1900 2015 (4) PENN 2 575,000 (5) 53,615 164,903 845,098 52,689 1,010,927 1,063,616 109,183 1968 1997 (4) 90 Park Avenue — 8,000 175,890 200,721 8,000 376,611 384,611 208,034 1964 1997 (4) 770 Broadway 700,000 52,898 95,686 198,096 52,898 293,782 346,680 146,826 1907 1998 (4) 888 Seventh Avenue 259,800 — 117,269 180,130 — 297,399 297,399 168,398 1980 1998 (4) PENN 11 500,000 40,333 85,259 142,088 40,333 227,347 267,680 112,615 1923 1997 (4) 909 Third Avenue 350,000 — 120,723 128,753 — 249,476 249,476 143,228 1969 1999 (4) 150 East 58th Street — 39,303 80,216 65,710 39,303 145,926 185,229 78,336 1969 1998 (4) 595 Madison Avenue — 62,731 62,888 82,600 62,731 145,488 208,219 64,983 1968 1999 (4) 330 West 34th Street — — 8,599 188,073 — 196,672 196,672 68,953 1925 1998 (4) 715 Lexington Avenue — — 26,903 20,828 30,086 17,645 47,731 2,918 1923 2001 (4) 4 Union Square South 120,000 24,079 55,220 14,329 24,079 69,549 93,628 30,512 1965/2004 1993 (4) The Farley Building — — 476,235 956,812 — 1,433,047 1,433,047 106,076 1912 2018 (4) 260 Eleventh Avenue — — 80,482 8,201 — 88,683 88,683 18,343 1911 2015 (4) 606 Broadway 74,119 45,406 8,993 486 23,930 30,955 54,885 1,696 2016 (4) 435 Seventh Avenue 95,696 19,893 19,091 2,032 19,893 21,123 41,016 12,659 2002 1997 (4) 131-135 West 33rd Street — 8,315 21,312 477 8,315 21,789 30,104 4,478 2016 (4) 304 - 306 Canal Street — 3,511 12,905 (7,629) 1,771 7,016 8,787 539 1910 2014 (4) 1131 Third Avenue — 7,844 7,844 5,683 7,844 13,527 21,371 3,886 1997 (4) 431 Seventh Avenue — 16,700 2,751 300 16,700 3,051 19,751 1,157 2007 (4) 138-142 West 32nd Street — 9,252 9,936 2,132 9,252 12,068 21,320 2,611 1920 2015 (4) 334 Canal Street — 1,693 6,507 1,304 753 8,751 9,504 614 2011 (4) 966 Third Avenue — 8,869 3,631 — 8,869 3,631 12,500 938 2013 (4) 137 West 33rd Street — 6,398 1,550 — 6,398 1,550 7,948 339 1932 2015 (4) 825 Seventh Avenue — 1,483 697 3,969 1,483 4,666 6,149 1,299 1997 (4) 537 West 26th Street — 10,370 17,632 20,000 26,631 21,371 48,002 4,396 2018 (4) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Encumbrances (1) Initial cost to company Costs Gross amount at which Accumulated Date of construction (3) Date Life on which Land Buildings Land Buildings Total (2) New York - continued Manhattan - continued 339 Greenwich Street $ — $ 2,622 $ 12,333 $ (10,018) $ 866 $ 4,071 $ 4,937 $ 368 2017 (4) Hotel Pennsylvania — 29,903 121,712 163,985 29,903 285,697 315,600 — 1919 1997 (4) Other (Including Signage) — 140,477 31,892 56,012 108,589 119,792 228,381 32,781 (4) Total Manhattan 5,104,615 2,025,913 4,530,569 4,644,755 2,053,679 9,147,558 11,201,237 2,707,928 Other Properties Paramus, New Jersey — — — 20,408 1,033 19,375 20,408 14,819 1967 1987 (4) Total Other Properties — — — 20,408 1,033 19,375 20,408 14,819 Total New York 5,104,615 2,025,913 4,530,569 4,665,163 2,054,712 9,166,933 11,221,645 2,722,747 Other THE MART THE MART, Illinois $ — $ 64,528 $ 319,146 $ 475,435 $ 64,535 $ 794,574 $ 859,109 $ 406,292 1930 1998 (4) 527 West Kinzie, Illinois — 5,166 — 317 5,166 317 5,483 — 1998 Total THE MART — 69,694 319,146 475,752 69,701 794,891 864,592 406,292 555 California Street, California 1,200,000 223,446 895,379 278,150 223,446 1,173,529 1,396,975 468,993 1922,1969 -1970 2007 (4) Borgata Land, Atlantic City, NJ — 83,089 — 1,405 83,089 1,405 84,494 671 — 2010 759-771 Madison Avenue (40 East 66th Street) Residential, New York — 8,454 13,321 (8,193) 5,273 8,309 13,582 3,541 — 2005 (4) Annapolis, Maryland — — 9,652 — — 9,652 9,652 5,215 2005 (4) Wayne Towne Center, New Jersey — — 26,137 49,313 — 75,450 75,450 42,400 2010 (4) Other — — — 3,861 — 3,861 3,861 2,291 (4) Total Other 1,200,000 384,683 1,263,635 800,288 381,509 2,067,097 2,448,606 929,403 Leasehold improvements, equipment and other — — — 130,953 — 130,953 130,953 100,677 Total December 31, 2023 $ 6,304,615 $ 2,410,596 $ 5,794,204 $ 5,596,404 $ 2,436,221 $ 11,364,983 $ 13,801,204 $ 3,752,827 ________________________________________ (1) Represents contractual debt obligations. (2) The net basis of Vornado's assets and liabilities for tax reporting purposes is approximately $1.5 billion lower than the amounts reported for financial statement purposes. (3) Date of original construction - many properties have had substantial renovation or additional construction, see "costs capitalized subsequent to acquisition" column. (4) Depreciation of the buildings and improvements is calculated over lives ranging from the life of the lease to forty years. (5) Secured amount outstanding on revolving credit facilities. The following is a reconciliation of real estate assets and accumulated depreciation: Year Ended December 31, 2023 2022 2021 Real Estate Balance at beginning of period $ 13,314,755 $ 13,217,845 $ 12,087,943 Additions during the period: Land 40,145 — 197,057 Buildings & improvements and other 713,740 711,722 1,286,474 14,068,640 13,929,567 13,571,474 Less: Assets sold, written-off, reclassified to ready for sale and deconsolidated 267,436 614,812 353,629 Balance at end of period $ 13,801,204 $ 13,314,755 $ 13,217,845 Accumulated Depreciation Balance at beginning of period $ 3,470,991 $ 3,376,347 $ 3,169,446 Depreciation expense 382,638 449,864 362,311 3,853,629 3,826,211 3,531,757 Less: Accumulated depreciation on assets sold, written-off and deconsolidated 100,802 355,220 155,410 Balance at end of period $ 3,752,827 $ 3,470,991 $ 3,376,347

SEC Schedule III Rollforward of

SEC Schedule III Rollforward of Real Estate Assets and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III Real Estate and Accumulated Depreciation	COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Encumbrances (1) Initial cost to company Costs Gross amount at which Accumulated Date of construction (3) Date Life on which Land Buildings Land Buildings Total (2) New York Manhattan 1290 Avenue of the Americas $ 950,000 $ 518,244 $ 926,992 $ 257,295 $ 518,244 $ 1,184,287 $ 1,702,531 $ 495,262 1963 2007 (4) One Park Avenue 525,000 197,057 369,016 15,684 197,057 384,700 581,757 25,714 1926 2021 (4) 350 Park Avenue 400,000 265,889 363,381 108,646 306,034 431,882 737,916 181,322 1960 2006 (4) PENN 1 — — 412,169 914,769 — 1,326,938 1,326,938 435,128 1972 1998 (4) 100 West 33rd Street 480,000 331,371 361,443 78,189 331,371 439,632 771,003 186,718 1911/2009 2007 (4) 150 West 34th Street 75,000 119,657 268,509 — 119,657 268,509 388,166 57,618 1900 2015 (4) PENN 2 575,000 (5) 53,615 164,903 845,098 52,689 1,010,927 1,063,616 109,183 1968 1997 (4) 90 Park Avenue — 8,000 175,890 200,721 8,000 376,611 384,611 208,034 1964 1997 (4) 770 Broadway 700,000 52,898 95,686 198,096 52,898 293,782 346,680 146,826 1907 1998 (4) 888 Seventh Avenue 259,800 — 117,269 180,130 — 297,399 297,399 168,398 1980 1998 (4) PENN 11 500,000 40,333 85,259 142,088 40,333 227,347 267,680 112,615 1923 1997 (4) 909 Third Avenue 350,000 — 120,723 128,753 — 249,476 249,476 143,228 1969 1999 (4) 150 East 58th Street — 39,303 80,216 65,710 39,303 145,926 185,229 78,336 1969 1998 (4) 595 Madison Avenue — 62,731 62,888 82,600 62,731 145,488 208,219 64,983 1968 1999 (4) 330 West 34th Street — — 8,599 188,073 — 196,672 196,672 68,953 1925 1998 (4) 715 Lexington Avenue — — 26,903 20,828 30,086 17,645 47,731 2,918 1923 2001 (4) 4 Union Square South 120,000 24,079 55,220 14,329 24,079 69,549 93,628 30,512 1965/2004 1993 (4) The Farley Building — — 476,235 956,812 — 1,433,047 1,433,047 106,076 1912 2018 (4) 260 Eleventh Avenue — — 80,482 8,201 — 88,683 88,683 18,343 1911 2015 (4) 606 Broadway 74,119 45,406 8,993 486 23,930 30,955 54,885 1,696 2016 (4) 435 Seventh Avenue 95,696 19,893 19,091 2,032 19,893 21,123 41,016 12,659 2002 1997 (4) 131-135 West 33rd Street — 8,315 21,312 477 8,315 21,789 30,104 4,478 2016 (4) 304 - 306 Canal Street — 3,511 12,905 (7,629) 1,771 7,016 8,787 539 1910 2014 (4) 1131 Third Avenue — 7,844 7,844 5,683 7,844 13,527 21,371 3,886 1997 (4) 431 Seventh Avenue — 16,700 2,751 300 16,700 3,051 19,751 1,157 2007 (4) 138-142 West 32nd Street — 9,252 9,936 2,132 9,252 12,068 21,320 2,611 1920 2015 (4) 334 Canal Street — 1,693 6,507 1,304 753 8,751 9,504 614 2011 (4) 966 Third Avenue — 8,869 3,631 — 8,869 3,631 12,500 938 2013 (4) 137 West 33rd Street — 6,398 1,550 — 6,398 1,550 7,948 339 1932 2015 (4) 825 Seventh Avenue — 1,483 697 3,969 1,483 4,666 6,149 1,299 1997 (4) 537 West 26th Street — 10,370 17,632 20,000 26,631 21,371 48,002 4,396 2018 (4) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I Encumbrances (1) Initial cost to company Costs Gross amount at which Accumulated Date of construction (3) Date Life on which Land Buildings Land Buildings Total (2) New York - continued Manhattan - continued 339 Greenwich Street $ — $ 2,622 $ 12,333 $ (10,018) $ 866 $ 4,071 $ 4,937 $ 368 2017 (4) Hotel Pennsylvania — 29,903 121,712 163,985 29,903 285,697 315,600 — 1919 1997 (4) Other (Including Signage) — 140,477 31,892 56,012 108,589 119,792 228,381 32,781 (4) Total Manhattan 5,104,615 2,025,913 4,530,569 4,644,755 2,053,679 9,147,558 11,201,237 2,707,928 Other Properties Paramus, New Jersey — — — 20,408 1,033 19,375 20,408 14,819 1967 1987 (4) Total Other Properties — — — 20,408 1,033 19,375 20,408 14,819 Total New York 5,104,615 2,025,913 4,530,569 4,665,163 2,054,712 9,166,933 11,221,645 2,722,747 Other THE MART THE MART, Illinois $ — $ 64,528 $ 319,146 $ 475,435 $ 64,535 $ 794,574 $ 859,109 $ 406,292 1930 1998 (4) 527 West Kinzie, Illinois — 5,166 — 317 5,166 317 5,483 — 1998 Total THE MART — 69,694 319,146 475,752 69,701 794,891 864,592 406,292 555 California Street, California 1,200,000 223,446 895,379 278,150 223,446 1,173,529 1,396,975 468,993 1922,1969 -1970 2007 (4) Borgata Land, Atlantic City, NJ — 83,089 — 1,405 83,089 1,405 84,494 671 — 2010 759-771 Madison Avenue (40 East 66th Street) Residential, New York — 8,454 13,321 (8,193) 5,273 8,309 13,582 3,541 — 2005 (4) Annapolis, Maryland — — 9,652 — — 9,652 9,652 5,215 2005 (4) Wayne Towne Center, New Jersey — — 26,137 49,313 — 75,450 75,450 42,400 2010 (4) Other — — — 3,861 — 3,861 3,861 2,291 (4) Total Other 1,200,000 384,683 1,263,635 800,288 381,509 2,067,097 2,448,606 929,403 Leasehold improvements, equipment and other — — — 130,953 — 130,953 130,953 100,677 Total December 31, 2023 $ 6,304,615 $ 2,410,596 $ 5,794,204 $ 5,596,404 $ 2,436,221 $ 11,364,983 $ 13,801,204 $ 3,752,827 ________________________________________ (1) Represents contractual debt obligations. (2) The net basis of Vornado's assets and liabilities for tax reporting purposes is approximately $1.5 billion lower than the amounts reported for financial statement purposes. (3) Date of original construction - many properties have had substantial renovation or additional construction, see "costs capitalized subsequent to acquisition" column. (4) Depreciation of the buildings and improvements is calculated over lives ranging from the life of the lease to forty years. (5) Secured amount outstanding on revolving credit facilities. The following is a reconciliation of real estate assets and accumulated depreciation: Year Ended December 31, 2023 2022 2021 Real Estate Balance at beginning of period $ 13,314,755 $ 13,217,845 $ 12,087,943 Additions during the period: Land 40,145 — 197,057 Buildings & improvements and other 713,740 711,722 1,286,474 14,068,640 13,929,567 13,571,474 Less: Assets sold, written-off, reclassified to ready for sale and deconsolidated 267,436 614,812 353,629 Balance at end of period $ 13,801,204 $ 13,314,755 $ 13,217,845 Accumulated Depreciation Balance at beginning of period $ 3,470,991 $ 3,376,347 $ 3,169,446 Depreciation expense 382,638 449,864 362,311 3,853,629 3,826,211 3,531,757 Less: Accumulated depreciation on assets sold, written-off and deconsolidated 100,802 355,220 155,410 Balance at end of period $ 3,752,827 $ 3,470,991 $ 3,376,347

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income (loss) attributable to Vornado / Vornado Realty L.P.	$ 105,494	$ (346,499)	$ 175,999

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
Recently Issued Accounting Literature	Recently Issued Accounting Literature In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04 establishing Accounting Standards Codification ("ASC") Topic 848, Reference Rate Reform , and in January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope (collectively, "ASC 848"). ASC 848 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASC 848 is optional and may be elected over time as reference rate reform activities occur. We have elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. In December 2022, the FASB issued ASU 2022-06, Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”) which was issued to defer the sunset date of ASC 848 to December 31, 2024. ASU 2022-06 is effective immediately for all companies. For our derivatives in hedge accounting relationships, we have utilized the elective relief in ASC 848, allowing for the continuation of hedge accounting through the transition process. As of December 31, 2023, we have transitioned all of our LIBOR-indexed debt and derivatives to SOFR, except for the $500,000,000 mortgage loan on the office condominium of 731 Lexington Avenue, owned by Alexander’s Inc. (in which we have a 32.4% interest), which transitioned to the Prime Rate. 2. Basis of Presentation and Significant Accounting Policies - continued Recently Issued Accounting Literature - continued In August 2023, the FASB issued ASU 2023-05, Business Combinations — Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement (“ASU 2023-05”) . ASU 2023-05 addresses the accounting for contributions made to a joint venture, upon formation, in a joint venture’s separate financial statements. Prior to the amendment, the FASB did not provide specific authoritative guidance on the initial measurement of assets and liabilities assumed by a joint venture upon its formation. ASU 2023-05 requires a joint venture to recognize and initially measure its assets and liabilities at fair value (with exceptions to fair value measurement that are consistent with the business combinations guidance). ASU 2023-05 is effective for all joint venture formations with a formation date on or after January 1, 2025, with early adoption permitted. During the current reporting period, we adopted ASU 2023-05 for newly formed entities meeting the definition of a joint venture. Historically, our joint ventures have recognized net assets contributed at formation at fair value. Adoption of ASU 2023-05 did not have an impact on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. The update also requires disclosure regarding the chief operating decision maker and expands the interim segment disclosure requirements. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of ASU 2023-07 on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires entities to disclose additional information with respect to the effective tax rate reconciliation and to disclose the disaggregation by jurisdiction of income tax expense and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of ASU 2023-09 on our consolidated financial statements.
Real Estate	Real Estate: Real estate is carried at cost, net of accumulated depreciation and amortization. Betterments, major renewals and certain costs directly related to the improvement and leasing of real estate are capitalized. Maintenance and repairs are expensed as incurred. For redevelopment of existing operating properties, the net book value of the existing property under redevelopment plus the cost for the construction and improvements incurred in connection with the redevelopment, including interest and debt expense, are capitalized to the extent the capitalized costs of the property do not exceed the estimated fair value of the redeveloped property when complete. If the cost of the redeveloped property, including the net book value of the existing property, exceeds the estimated fair value of the redeveloped property, the excess is charged to expense. Depreciation is recognized on a straight-line basis over the estimated useful lives of these assets which range from 7 to 40 years. Tenant allowances are amortized on a straight-line basis over the lives of the related leases, which approximate the useful lives of the assets. Upon the acquisition of real estate, we assess whether the transaction should be accounted for as an asset acquisition or as a business combination. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. Our acquisitions of real estate generally will not meet the definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related identified intangible assets). We assess the fair value of acquired assets (including land, buildings and improvements, identified intangibles, such as acquired above and below-market leases, acquired in-place leases and tenant relationships) and acquired liabilities and we allocate the purchase price based on these assessments which are on a relative fair value basis. We assess fair value based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known trends, and market/economic conditions. We amortize identified intangibles that have finite lives over the period they are expected to contribute directly or indirectly to the future cash flows of the property or business acquired. Our properties, including any related right-of-use ("ROU") assets and intangible assets, are individually reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment exists when the carrying amount of an asset exceeds the aggregate projected future cash flows over the anticipated holding period on an undiscounted basis. An impairment loss is measured based on the excess of the property’s carrying amount over its estimated fair value. Impairment analyses are based on information available at the time the analyses are prepared. Estimates of future cash flows are subjective and are based, in part, on assumptions regarding future rental revenues, operating expenses, capital expenditures, discount rates and capitalization rates which could differ materially from actual results. Financial Services – Investment Companies (“ASC 946”) and its investments are reported on its balance sheet at fair value, with changes in value each period recognized in earnings. We consolidate the accounts of the Fund into our consolidated financial statements, retaining the fair value basis of accounting.
Partially Owned Entities	Partially Owned Entities: We consolidate entities in which we have a controlling financial interest. In determining whether we have a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, we consider (i) whether the entity is a variable interest entity (“VIE”) in which we are the primary beneficiary or (ii) whether the entity is a voting interest entity in which we have a majority of the voting interests of the entity. We are deemed to be the primary beneficiary of a VIE when we have (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. We generally do not control a partially owned entity if the approval of all of the partners/members is contractually required with respect to decisions that most significantly impact the performance of the partially owned entity. This includes decisions regarding operating/capital budgets, and the placement of new or additional financing secured by the assets of the venture, among others. We account for investments under the equity method when the requirements for consolidation are not met, and we have significant influence over the operations of the investee. Equity method investments are initially recorded at cost and subsequently adjusted for our share of net income or loss and cash contributions and distributions each period. Equity investments that do not qualify for consolidation or equity method accounting are recorded at fair value in accordance with ASC Topic 321, Investments-Equity Securities ("ASC 321") or, if fair value is not readily determinable, are initially recognized at cost and subsequently remeasured if there is an orderly transaction in an identical or similar investment of the same issuer or if the investment is impaired. Investments in unconsolidated partially owned entities are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recorded when there is a decline in the fair value of an investment below its carrying value and we conclude that the decline is other-than-temporary during our intended holding period. An impairment loss is measured based on the excess of the carrying amount of an investment over its estimated fair value. Impairment analyses are based on information available at the time the analyses are prepared. Estimates of future cash flows are subjective and are based, in part, on assumptions regarding future rental revenues, operating expenses, capital expenditures, discount rates and capitalization rates which could differ materially from actual results.
220 Central Park South Condominium Units Ready For Sale	220 Central Park South Condominium Units Ready For Sale: Our remaining unsold 220 Central Park South (“220 CPS”) residential condominium units are recognized in “220 Central Park South condominium units ready for sale”. These units have received temporary certificates of occupancy and are carried at the lower of their carrying amount or fair value less costs to sell. We have used the relative sales value method to allocate costs to individual condominium units. GAAP income is recognized when legal title transfers upon closing of the condominium unit sales and is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. As of December 31, 2023 and 2022, none of the 220 CPS condominium units ready for sale had a carrying value that exceeded fair value.
Cash And Cash Equivalents	Cash and Cash Equivalents:
Restricted Cash	Restricted Cash: Restricted cash consists of security deposits, cash restricted for the purposes of facilitating a Section 1031 Like-Kind exchange, cash restricted in connection with our deferred compensation plan and cash escrowed under loan agreements, including for debt service, real estate taxes, property insurance, leasing costs and capital improvements.
Deferred Charges	Deferred Charges: Direct financing costs are deferred and amortized over the terms of the related agreements as a component of interest expense. Direct and incremental costs related to successful leasing activities are capitalized and amortized on a straight-line basis over the lives of the related leases. All other deferred charges are amortized on a straight-line basis, which approximates the effective interest rate method, in accordance with the terms of the agreements to which they relate.
Revenue Recognition	Revenue Recognition: • Rental revenues include revenues from the leasing of space at our properties to tenants, trade shows, tenant services and parking garage revenues. • Revenues from the leasing of space at our properties to tenants include (i) lease components, including fixed and variable lease payments, and nonlease components which include reimbursement of common area maintenance expenses, and (ii) reimbursement of real estate taxes and insurance expenses. As lessor, we have elected to combine the lease and nonlease components of our operating lease agreements and account for the components as a single lease component in accordance with ASC Topic 842, Leases (“ASC 842”). • Revenues from fixed lease payments for operating leases are recognized on a straight-line basis over the non-cancelable term of the lease, together with renewal options that are reasonably certain of being exercised. We commence revenue recognition when the tenant takes possession of the leased space and the leased space is substantially ready for its intended use. • Revenues derived from the reimbursement of real estate taxes, insurance expenses and common area maintenance expenses are variable, and are generally recognized in the same period as the related expenses are incurred. • We recognize amortization of acquired below-market leases as an increase to rental revenues and amortization of acquired above-market leases as a decrease to rental revenues over the term of the lease (see Note 8 - Identified Intangible Assets and Liabilities ). • Revenues from the operation of trade shows at our properties, primarily derived from booth rentals, are recognized when the trade show booths are made available for use by the exhibitors, in accordance with ASC 842. • Revenues derived from sub-metered electric, service elevator, trash removal and other services provided to our tenants at their request are recognized as the services are transferred in accordance with ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"). • Revenues derived from the operations of our parking facilities, which charge hourly or monthly fees to provide parking services to customers, are recognized as the services are transferred in accordance with ASC 606. • We classify revenues derived from management, leasing and other contractual agreements (including BMS cleaning, engineering and security services) with third parties or with partially owned entities as “fee and other income” and recognize revenue as the services are transferred in accordance with ASC 606. We evaluate on an individual lease basis whether it is probable that we will collect substantially all amounts due from our tenants and recognize changes in the collectability assessment of our operating leases as adjustments to rental revenue. Management exercises judgment in assessing collectability of tenant receivables and considers payment history, current credit status and publicly available information about the financial condition of the tenant, and other factors. Tenant receivables, including receivables arising from the straight-lining of rents, are written off when management deems that the collectability of substantially all future lease payments from a specific lease is not probable of collection, at which point, the Company will limit future rental revenues to cash received.
Income Taxes	Income Taxes: Vornado operates in a manner intended to enable it to continue to qualify as a REIT under Sections 856‑860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders. Vornado distributes to its shareholders 100% of its REIT taxable income and therefore, no provision for Federal income taxes is required. Dividends distributed for the years ended December 31, 2023 and 2022 were characterized, for federal income tax purposes, as ordinary income under Section 199A of the Internal Revenue Code. Dividends distributed for the year ended December 31, 2021 were characterized for federal income tax purposes as 84.2% ordinary income under Section 199A of the Internal Revenue Code and 15.8% qualified dividend income (taxed as long-term capital gain). We have elected to treat certain consolidated subsidiaries, and may in the future elect to treat newly formed subsidiaries, as taxable REIT subsidiaries pursuant to an amendment to the Internal Revenue Code that became effective January 1, 2001. Taxable REIT subsidiaries may participate in non-real estate related activities and/or perform non-customary services for tenants and are subject to Federal and State income tax at regular corporate tax rates. The Farley Building and our 220 CPS condominium project are held through taxable REIT subsidiaries.
Redeemable Noncontrolling Partnership Units	Redeemable Noncontrolling Partnership Units Redeemable noncontrolling partnership units are primarily comprised of Class A Operating Partnership units held by third parties and are recorded at the greater of their carrying amount or redemption value at the end of each reporting period. Changes in the value from period-to-period are charged to “additional capital” in Vornado’s consolidated statements of changes in equity and to “partners’ capital” on the consolidated balance sheets of the Operating Partnership. Class A units may be tendered for redemption to the Operating Partnership for cash; Vornado, at its option, may assume that obligation and pay the holder either cash or Vornado common shares on a one-for-one basis. Because the number of Vornado common shares outstanding at all times equals the number of Class A units owned by Vornado, the redemption value of each Class A unit is equivalent to the market value of one Vornado common share, and a distribution made to a Class A unitholder is equal to the dividend paid to a Vornado common shareholder.
VIEs	Unconsolidated VIEs As of December 31, 2023 and 2022, we had several unconsolidated VIEs. We do not consolidate these entities because we are not the primary beneficiary and the nature of our involvement in the activities of these entities does not give us power over decisions that significantly affect these entities’ economic performance. We account for our investment in these entities under the equity method (see Note 5 – Investments in Partially Owned Entities Consolidated VIEs Our most significant consolidated VIEs are the Operating Partnership (for Vornado), the Farley joint venture and certain properties that have noncontrolling interests. These entities are VIEs because the noncontrolling interests do not have substantive kick-out or participating rights. We consolidate these entities because we control all significant business activities.
Fair Value Measurements	ASC 820 defines fair value and establishes a framework for measuring fair value. The objective of fair value is to determine the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 – quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities as well as certain U.S. Treasury securities that are highly liquid and are actively traded in secondary markets; Level 2 – observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 – unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment is necessary to interpret Level 2 and 3 inputs in determining the fair value of our financial and non-financial assets and liabilities. Accordingly, our fair value estimates, which are made at the end of each reporting period, may be different than the amounts that may ultimately be realized upon sale or disposition of these assets.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Summary of Revenues by Segment	Below is a summary of our revenues by segment. Additional financial information related to these reportable segments for the years ended December 31, 2023, 2022 and 2021 is set forth in Note 23 - Segment Information. (Amounts in thousands) For the Year Ended December 31, 2023 Total New York Other Property rentals $ 1,523,890 $ 1,222,229 $ 301,661 (1) Trade shows (2) 20,781 — 20,781 Lease revenues (3) 1,544,671 1,222,229 322,442 Tenant services 42,460 31,086 11,374 Parking revenues 20,355 16,502 3,853 Rental revenues 1,607,486 1,269,817 337,669 BMS cleaning fees 141,937 151,608 (9,671) (4) Management and leasing fees 13,040 13,619 (579) Other income 48,700 17,114 31,586 Fee and other income 203,677 182,341 21,336 Total revenues $ 1,811,163 $ 1,452,158 $ 359,005 ____________________ See notes on following page. (Amounts in thousands) For the Year Ended December 31, 2022 Total New York Other Property rentals $ 1,510,648 $ 1,230,851 $ 279,797 Trade shows (2) 32,669 — 32,669 Lease revenues (3) 1,543,317 1,230,851 312,466 Tenant services 45,211 33,351 11,860 Parking revenues 19,157 15,979 3,178 Rental revenues 1,607,685 1,280,181 327,504 BMS cleaning fees 137,673 146,530 (8,857) (4) Management and leasing fees 11,039 11,645 (606) Other income 43,598 11,086 32,512 Fee and other income 192,310 169,261 23,049 Total revenues $ 1,799,995 $ 1,449,442 $ 350,553 ____________________ See notes on following page. 3. Revenue Recognition - continued (Amounts in thousands) For the Year Ended December 31, 2021 Total New York Other Property rentals $ 1,354,209 $ 1,071,816 $ 282,393 Trade shows (2) 19,482 — 19,482 Lease revenues (3) 1,373,691 1,071,816 301,875 Tenant services 37,449 26,048 11,401 Parking revenues 13,391 11,370 2,021 Rental revenues 1,424,531 1,109,234 315,297 BMS cleaning fees 119,780 126,891 (7,111) (4) Management and leasing fees 11,725 12,177 (452) Other income 33,174 9,297 23,877 Fee and other income 164,679 148,365 16,314 Total revenues $ 1,589,210 $ 1,257,599 $ 331,611 ________________________________________ (1) 2023 includes the receipt of a $21,350 tenant settlement, of which $6,405 is attributable to noncontrolling interests. (2) 2022 and 2021 include revenues from The Armory Show. On July 3, 2023, we completed the sale of The Armory Show. See Note 7 - Dispositions for further information. (3) The components of lease revenues were as follows: For the Year Ended December 31, 2023 2022 2021 Fixed billings $ 1,387,731 $ 1,376,527 $ 1,277,645 Variable billings 150,045 122,947 108,850 Total contractual operating lease billings 1,537,776 1,499,474 1,386,495 Adjustment for straight-line rents and amortization of acquired below-market leases and other, net 12,756 44,715 (5,109) Less: write-off of straight-line rent and tenant receivables deemed uncollectible (5,861) (872) (7,695) Lease revenues $ 1,544,671 $ 1,543,317 $ 1,373,691 (4) Represents the elimination of BMS cleaning fees related to THE MART and 555 California Street which are included as income in the New York segment.
Schedule of Components of Lease Revenues	The components of lease revenues were as follows: For the Year Ended December 31, 2023 2022 2021 Fixed billings $ 1,387,731 $ 1,376,527 $ 1,277,645 Variable billings 150,045 122,947 108,850 Total contractual operating lease billings 1,537,776 1,499,474 1,386,495 Adjustment for straight-line rents and amortization of acquired below-market leases and other, net 12,756 44,715 (5,109) Less: write-off of straight-line rent and tenant receivables deemed uncollectible (5,861) (872) (7,695) Lease revenues $ 1,544,671 $ 1,543,317 $ 1,373,691

Real Estate Fund Investments (T

Real Estate Fund Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Real Estate Fund Investments [Abstract]
Schedule of Income (Loss) from the Fund and the Crowne Plaza Joint Venture	Below is a summary of income from the Fund and the Crowne Plaza Joint Venture. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Previously recorded unrealized loss on exited investments $ 247,575 $ 59,396 $ — Net realized (loss) income on exited investments (245,714) (54,255) 1,364 Net unrealized (loss) income on held investments — (7,730) 3,257 Net investment (loss) income (271) 6,130 6,445 Income from real estate fund investments 1,590 3,541 11,066 Less loss (income) attributable to noncontrolling interests in consolidated subsidiaries 12,789 (1,870) (7,309) Income from real estate fund investments net of noncontrolling interests in consolidated subsidiaries $ 14,379 $ 1,671 $ 3,757
Schedule of Changes in Fair Value of Fund and the Crowne Plaza Joint Venture	The table below summarizes the changes in the fair value of the Fund and the Crowne Plaza Joint Venture. (Amounts in thousands) For the Year Ended December 31, 2023 2022 Beginning balance $ — $ 7,730 Previously recorded unrealized loss on exited investments 247,575 59,396 Net realized loss on exited investments (245,714) (54,255) Net unrealized loss on held investments — (7,730) Dispositions (1,861) (5,141) Ending balance $ — $ — The table below summarizes the changes in fair value of loans receivable that are classified as Level 3. (Amounts in thousands) For the Year Ended December 31, 2023 2022 Beginning balance $ 54,397 $ 50,182 Credit losses (26,155) (1) — Interest accrual 5,153 4,748 Paydowns (411) (533) Ending balance $ 32,984 $ 54,397 ____________________ (1) Includes a $21,114 impairment loss on advances made for our interest in a joint venture, resulting from a decline in the value of the underlying building. The loss was included in “income (loss) from partially owned entities” on our consolidated statements of income for the year ended December 31, 2023.

Investments in Partially Owne_2

Investments in Partially Owned Entities (Tables)	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Partially Owned Entities	Below is a schedule of our investments in partially owned entities. (Amounts in thousands) Percentage Ownership as of December 31, 2023 Balance as of December 31, 2023 2022 Investments: Fifth Avenue and Times Square JV (see page 90 51.5% $ 2,242,972 $ 2,272,320 Partially owned office buildings/land (1) Various 118,558 182,180 Alexander’s (see page 91 32.4% 87,510 87,796 Other equity method investments (2) Various 161,518 122,777 $ 2,610,558 $ 2,665,073 Investments in partially owned entities included in other liabilities (3) : 7 West 34th Street 53.0% $ (69,899) $ (65,522) 85 Tenth Avenue 49.9% (11,330) (16,006) $ (81,229) $ (81,528) ________________________________________ (1) Includes interests in 280 Park Avenue, 650 Madison Avenue, 512 West 22nd Street, 61 Ninth Avenue and others. (2) Includes interests in Independence Plaza, Pier 94 JV (see page 92 (3) Our negative basis results from distributions in excess of our investment. Below is a schedule of income (loss) from partially owned entities. (Amounts in thousands) Percentage Ownership as of December 31, 2023 For the Year Ended December 31, 2023 2022 2021 Our share of net income (loss): Fifth Avenue and Times Square JV (see page 90 Equity in net income (1) 51.5% $ 35,209 $ 55,248 $ 47,144 Return on preferred equity, net of our share of the expense 37,416 37,416 37,416 Non-cash impairment loss — (489,859) — 72,625 (397,195) 84,560 Alexander's (see page 91 Equity in net income 32.4% 15,441 18,439 20,116 Management, leasing and development fees 5,238 4,534 5,429 Net gain on sale of land 16,396 — 14,576 37,075 22,973 40,121 Partially owned office buildings (2)(3) Various (73,589) (110,261) 6,384 Other equity method investments (3)(4) Various 2,578 23,132 (548) $ 38,689 $ (461,351) $ 130,517 ________________________________________ (1) 2023 includes (i) a $5,120 accrual of default interest which was forgiven by the lender as part of the restructuring of the 697-703 Fifth Avenue loan and is amortized over the remaining term of the restructured loan, reducing future interest expense and (ii) lower income from lease renewals at 697-703 Fifth Avenue and 666 Fifth Avenue, partially offset by a decrease in our share of depreciation and amortization expense compared to the prior year, primarily resulting from non-cash impairment losses recognized in prior periods. (2) Includes interests in 280 Park Avenue, 650 Madison Avenue, 7 West 34th Street, 512 West 22nd Street, 61 Ninth Avenue, 85 Tenth Avenue and others. (3) In 2023 and 2022, we recognized $50,458 and $93,353, respectively, of impairment losses. (4) Includes interests in Independence Plaza, Rosslyn Plaza and others. 2022 includes $17,185 of net gains from dispositions of two investments. 5. Investments in Partially Owned Entities – continued Below is a summary of the debt of our partially owned entities. (Amounts in thousands) Percentage Ownership as of December 31, 2023 Maturity (1) Weighted Average Interest Rate as of December 31, 2023 (2) 100% Partially Owned Entities’ Debt (3) as of December 31, 2023 2022 Mortgages Payable: Partially owned office buildings (4) Various 2024-2029 5.45% $ 3,275,098 $ 3,288,977 Alexander's 32.4% 2024-2027 4.48% 1,096,544 1,096,544 Fifth Avenue and Times Square JV 51.5% 2024-2028 5.92% 855,476 921,000 Other (5) Various 2024-2032 5.16% 1,365,954 1,377,492 ________________________________________ (1) Assumes the exercise of as-of-right extension options. (2) Represents the interest rate in effect as of period end based on the appropriate reference rate as of the contractual reset date plus contractual spread, adjusted for hedging instruments, as applicable. (3) All amounts are non-recourse to us except (i) the $500,000 mortgage loan on 640 Fifth Avenue, included in the Fifth Avenue and Times Square JV, and (ii) the $300,000 mortgage loan on 7 West 34th Street. (4) Includes interests in 280 Park Avenue, 650 Madison Avenue, 7 West 34th Street, 512 West 22nd Street, 61 Ninth Avenue, 85 Tenth Avenue and others. (5) Includes interests in Independence Plaza, Pier 94 JV (see page 92 Based on our ownership interest in the partially owned entities above, our pro rata share of the debt of these partially owned entities was $2,654,701,000 and $2,697,226,000 as of December 31, 2023 and 2022, respectively. Summary of Condensed Combined Financial Information The following is a summary of condensed combined financial information for all of our partially owned entities. (Amounts in thousands) As of December 31, 2023 2022 Balance Sheet: Assets $ 11,533,000 $ 12,012,000 Liabilities 7,326,000 7,519,000 Noncontrolling interests 1,907,000 2,095,000 Equity 2,300,000 2,398,000 (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Income Statement: Total revenue $ 1,132,000 $ 1,189,000 $ 1,184,000 Net income (loss) 34,000 (404,000) 190,000 Net (loss) income attributable to the entities (40,000) (483,000) 114,000

Identified Intangible Assets _2

Identified Intangible Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Schedule of Identified Intangible Assets and Intangible Liabilities	The following summarizes our identified intangible assets (primarily in-place and above-market leases) and liabilities (primarily below-market leases). (Amounts in thousands) Balance as of December 31, 2023 2022 Identified intangible assets: Gross amount $ 225,671 $ 237,777 Accumulated amortization (98,589) (98,139) Total, net $ 127,082 $ 139,638 Identified intangible liabilities (included in deferred revenue): Gross amount $ 206,771 $ 244,396 Accumulated amortization (178,282) (208,592) Total, net $ 28,489 $ 35,804
Below Market Leases Net Of Above Market Leases
Finite-Lived Intangible Assets [Line Items]
Schedule of Estimated Annual Amortization	Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: (Amounts in thousands) 2024 $ 2,451 2025 964 2026 321 2027 (148) 2028 (47)
Other Identified Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Schedule of Estimated Annual Amortization	Estimated annual amortization for each of the five succeeding years commencing January 1, 2024 is below: (Amounts in thousands) 2024 $ 6,843 2025 5,810 2026 5,615 2027 5,308 2028 4,173

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The following is a summary of our debt: (Amounts in thousands) Weighted Average Interest Rate as of December 31, 2023 (1) Balance as of December 31, 2023 2022 Mortgages Payable: Fixed rate (2) 3.42% $ 4,518,200 $ 3,570,000 Variable rate (3) 6.23% 1,211,415 2,307,615 Total 4.01% 5,729,615 5,877,615 Deferred financing costs, net and other (41,595) (48,597) Total, net $ 5,688,020 $ 5,829,018 Unsecured Debt: Senior unsecured notes 3.02% $ 1,200,000 $ 1,200,000 Deferred financing costs, net and other (6,127) (8,168) Senior unsecured notes, net 1,193,873 1,191,832 Unsecured term loan 4.79% 800,000 800,000 Deferred financing costs, net and other (5,441) (6,807) Unsecured term loan, net 794,559 793,193 Unsecured revolving credit facilities 3.87% 575,000 575,000 Total, net $ 2,563,432 $ 2,560,025 ________________________________________ (1) Represents the interest rate in effect as of period end based on the appropriate reference rate as of the contractual reset date plus contractual spread, adjusted for hedging instruments, as applicable. See Note 15 - Fair Value Measurements for further information on our consolidated hedging instruments. (2) Includes variable rate mortgages with interest rates fixed by interest rate swap arrangements and the $950,000 1290 Avenue of the Americas mortgage loan which is subject to a 1.00% SOFR interest rate cap arrangement. (3) Includes variable rate mortgages subject to interest rate cap arrangements, except for the 1290 Avenue of the Americas mortgage loan discussed above. As of December 31, 2023, $1,034,119 of our variable rate debt is subject to interest rate cap arrangements. The interest rate cap arrangements have a weighted average strike rate of 4.50% and a weighted average remaining term of 10 months.
Schedule of Principal Maturities of Mortgages Payable and Unsecured Debt	As of December 31, 2023, the principal maturities of mortgages payable and unsecured debt, including as-of-right extension options, for the next five years and thereafter are as follows: (Amounts in thousands) Mortgages Payable Unsecured Debt Year Ended December 31, 2024 $ 169,815 $ — 2025 879,800 450,000 2026 525,000 400,000 2027 1,580,000 1,375,000 2028 2,225,000 — Thereafter 350,000 350,000

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Schedule of Redeemable Noncontrolling Partnership Units	Below are the details of redeemable noncontrolling partnership units. (Amounts in thousands, except units and per unit amounts) Balance as of December 31, Units Outstanding as of December 31, Per Unit Preferred or Unit Series 2023 2022 2023 2022 Common: Class A units held by third parties $ 480,251 (1) $ 345,157 (1) 17,000,030 14,416,891 n/a $ 0.675 Perpetual Preferred/Redeemable Preferred: 3.25% D-17 Cumulative Redeemable (2) $ 3,535 $ 3,535 141,400 141,400 $ 25.00 $ 0.8125 ________________________________________ (1) As of December 31, 2023 and 2022, the aggregate redemption value of redeemable Class A units of the Operating Partnership, was $480,251,000 and $300,015,000, respectively, based on Vornado’s quarter-end closing common share price. (2) Holders may tender units for redemption to the Operating Partnership for cash at their stated redemption amount; Vornado, at its option, may assume that obligation and pay the holders either cash or Vornado preferred shares on a one-for-one basis. These units are redeemable at Vornado's option at any time.
Schedule of Activity of Redeemable Noncontrolling Interests	Below is a table summarizing the activity of redeemable noncontrolling partnership units. (Amounts in thousands) For the Year Ended December 31, 2023 2022 Beginning balance $ 348,692 $ 590,975 Net income (loss) 3,361 (30,376) Other comprehensive (loss) income (9,340) 14,250 Distributions (10,783) (30,311) Redemption of Class A units for Vornado common shares, at redemption value (8,489) (3,524) Redeemable Class A unit measurement adjustment 138,114 (221,145) Other, net 22,231 28,823 Ending balance $ 483,786 $ 348,692 Below is a table summarizing the activity of the redeemable noncontrolling interest in a consolidated subsidiary. For the Year Ended December 31, (Amounts in thousands) 2023 2022 Beginning balance $ 88,040 $ 97,708 Net loss (39,385) (9,668) Contributions 112,668 — Distributions (6,661) — Ending balance $ 154,662 $ 88,040

Shareholders' Equity_Partners_2

Shareholders' Equity/Partners' Capital (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Preferred Units	The following table sets forth the details of our preferred shares of beneficial interest and the preferred units of the Operating Partnership outstanding as of December 31, 2023 and 2022. During 2023, we paid $62,116,000 in preferred dividends. (Amounts in thousands, except share/unit and per share/per unit amounts) Per Share/Unit Preferred Shares/Units Balance Shares/Units Outstanding Liquidation Annual (1) Convertible Preferred: 6.5% Series A: authorized 12,902 shares/units (2) $ 920 12,902 $ 50.00 $ 3.25 Cumulative Redeemable Preferred (3) : 5.40% Series L: authorized 13,800,000 shares/units 290,306 12,000,000 25.00 1.35 5.25% Series M: authorized 13,800,000 shares/units 308,946 12,780,000 25.00 1.3125 5.25% Series N: authorized 12,000,000 shares/units 291,134 12,000,000 25.00 1.3125 4.45% Series O: authorized 12,000,000 shares/units 291,153 12,000,000 25.00 1.1125 $ 1,182,459 48,792,902 ________________________________________ (1) Dividends on preferred shares and distributions on preferred units are cumulative and are payable quarterly in arrears. (2) Redeemable at the option of Vornado under certain circumstances, at a redemption price of 1.9531 common shares/Class A units per Series A preferred share/unit plus accrued and unpaid dividends/distributions through the date of redemption, or convertible at any time at the option of the holder for 1.9531 common shares/Class A units per Series A preferred share/unit. (3) Series L and Series M preferred shares/units are redeemable at Vornado's option at a redemption price of $25.00 per share/unit, plus accrued and unpaid dividends/distributions through the date of redemption. Series N preferred shares/units are redeemable commencing November 2025 and Series O preferred shares/units are redeemable commencing September 2026, each at a redemption price of $25.00 per share/unit.

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	Below is a summary of our stock-based compensation expense, a component of "general and administrative" expense on our consolidated statements of income. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 LTIP Units $ 22,179 $ 21,086 $ 27,698 Performance AO LTIP Units 11,426 94 219 LTPP Units 7,189 5,145 — OPP Units 1,992 1,906 8,629 Vornado stock options 162 296 456 Vornado restricted stock 159 292 450 AO LTIP Units 94 430 877 $ 43,201 $ 29,249 $ 38,329
Schedule of Unrecognized Compensation Expense	Below is a summary of unrecognized stock-based compensation expense as of December 31, 2023. (Amounts in thousands) As of December 31, 2023 Weighted-Average Performance AO LTIP Units $ 37,284 2.1 LTIP Units 29,550 1.9 LTPP Units 5,004 1.6 OPP Units 1,206 1.3 $ 73,044 2.0
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions	The fair value of each Performance AO LTIP Unit granted is estimated on the date of grant using an option-pricing model with the following weighted-average assumptions for grants in the year ended December 31, 2023: As of December 31, 2023 Expected volatility 33% Risk free interest rate 4% Expected dividend yield 6%
Summary of Performance AO LTIP Units Activity	Below is a summary of Performance AO LTIP Units activity for the year ended December 31, 2023. Shares Weighted- Weighted- Outstanding as of December 31, 2022 496,762 $ 62.62 Expired (496,762) 62.62 Granted 14,368,750 16.87 Outstanding as of December 31, 2023 14,368,750 $ 16.87 9.5 Options exercisable as of December 31, 2023 — $ — —
Schedule of Share Based Compensation Stock Options Activity	Below is a summary of Vornado’s stock option activity for the year ended December 31, 2023. Shares Weighted- Weighted- Outstanding as of December 31, 2022 176,705 $ 65.35 Forfeited (1,058) 52.30 Expired (17,546) 64.56 Outstanding as of December 31, 2023 158,101 $ 65.52 4.17 Options exercisable as of December 31, 2023 144,361 $ 66.78 3.99 Below is a summary of AO LTIP Units activity for the year ended December 31, 2023. Shares Weighted- Weighted- Outstanding as of December 31, 2022 565,664 $ 59.93 Forfeited (3,797) 52.40 Expired (20,053) 59.62 Outstanding as of December 31, 2023 541,814 $ 59.99 5.24 Options exercisable as of December 31, 2023 499,882 $ 60.63 5.16
Schedule of Share Based Compensation Restricted Operating Partnership Units Activity	Below is a summary of restricted LTIP unit activity for the year ended December 31, 2023. Unvested Units Units Weighted-Average Unvested as of December 31, 2022 985,916 $ 49.41 Granted 3,110,000 14.62 Vested (825,882) 45.04 Forfeited (59,875) 27.15 Unvested as of December 31, 2023 3,210,159 17.24
Schedule of Share Based Compensation Restricted Stock And Restricted Stock Units Activity	Below is a summary of Vornado’s restricted stock activity for the year ended December 31, 2023. Unvested Shares Shares Weighted-Average Unvested as of December 31, 2022 8,379 $ 55.64 Vested (5,093) 57.17 Forfeited (239) 53.31 Unvested as of December 31, 2023 3,047 53.26

Income (Loss) Per Share_Incom_2

Income (Loss) Per Share/Income (Loss) Per Class A Unit (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings per share
Schedule of Earnings Per Share Basic and Diluted	Vornado Realty Trust Basic net income (loss) per common share is computed by dividing (i) net income (loss) attributable to common stockholders after allocation of dividends and undistributed earnings to participating securities by (ii) the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the dilutive impact of potential common shares and is computed after allocation of earnings to participating securities. Vornado’s participating securities include unvested restricted common shares. Employee stock options, OPP Units, AO LTIP Units, Performance AO LTIP Units and LTPP Units are included in the calculation of diluted income per share using the treasury stock method, if the effect is dilutive. Series A convertible preferred shares, Series G-1 through G-4 convertible preferred units, and Series D-13 redeemable preferred units, are included in the calculation of diluted income per share using the if-converted method, if the effect is dilutive. Net income (loss) is allocated to redeemable Class A units of the Operating Partnership on a one-for-one basis with Vornado common shares. As such, redemption of these units for Vornado common shares would not have a dilutive effect on income (loss) per common share. (Amounts in thousands, except per share amounts) For the Year Ended December 31, 2023 2022 2021 Numerator: Net income (loss) attributable to Vornado $ 105,494 $ (346,499) $ 175,999 Preferred share dividends (62,116) (62,116) (65,880) Series K preferred share issuance costs — — (9,033) Net income (loss) attributable to common shareholders 43,378 (408,615) 101,086 Distributions and earnings allocated to unvested participating securities (2) (18) (34) Numerator for basic and diluted income (loss) per common share $ 43,376 $ (408,633) $ 101,052 Denominator: Denominator for basic income (loss) per common share - weighted average shares 191,005 191,775 191,551 Effect of dilutive securities (1) : Share-based awards 851 — 571 Denominator for diluted income (loss) per common share - weighted average shares and assumed conversions 191,856 191,775 192,122 Income (loss) per common share: Basic $ 0.23 $ (2.13) $ 0.53 Diluted $ 0.23 $ (2.13) $ 0.53 ____________________ (1) The calculation of diluted income (loss) per common share for the years ended December 31, 2023, 2022, and 2021 excluded weighted average potential common shares of 3,458, 1,706, and 164, respectively, as their effect was antidilutive.
Vornado Realty L.P.
Earnings per share
Schedule of Earnings Per Share Basic and Diluted	Vornado Realty L.P. Basic net income (loss) per Class A unit is computed by dividing (i) net income (loss) attributable to Class A unitholders after allocation of distributions and undistributed earnings to participating securities by (ii) the weighted average number of Class A units outstanding for the period. Diluted earnings per share reflects the dilutive impact of potential Class A units and is computed after allocation of earnings to participating securities. VRLP’s participating securities include unvested LTIP Units and LTPP Units for which the applicable performance vesting conditions were satisfied. Equity awards subject to market and/or performance vesting conditions, including Vornado stock options, OPP Units, AO LTIP Units, Performance AO LTIP Units and LTPP Units, are included in the calculation of diluted income per Class A unit using the treasury stock method. Convertible securities, including Series A convertible preferred shares, Series G-1 through G-4 convertible preferred units, and Series D-13 redeemable preferred units, are included in the calculation of diluted income per Class A unit using the if-converted method, if dilutive. (Amounts in thousands, except per unit amounts) For the Year Ended December 31, 2023 2022 2021 Numerator: Net income (loss) attributable to Vornado Realty L.P. $ 108,855 $ (376,875) $ 183,539 Preferred unit distributions (62,231) (62,231) (66,035) Series K preferred unit issuance costs — — (9,033) Net income (loss) attributable to Class A unitholders 46,624 (439,106) 108,471 Distributions and earnings allocated to participating securities (1,323) (2,215) (2,668) Numerator for basic and diluted income (loss) per Class A unit $ 45,301 $ (441,321) $ 105,803 Denominator: Denominator for basic income (loss) per Class A unit – weighted average units 205,105 205,315 204,728 Effect of dilutive securities (1) : Unit-based awards 851 — 916 Denominator for diluted income (loss) per Class A unit – weighted average units and assumed conversions 205,956 205,315 205,644 Income (loss) per Class A unit: Basic $ 0.22 $ (2.15) $ 0.52 Diluted $ 0.22 $ (2.15) $ 0.51 ____________________ (1) The calculation of diluted income (loss) per Class A unit for the years ended December 31, 2023, 2022, and 2021 excluded weighted average potential Class A units of 3,458, 1,706, and 164, respectively, as their effect was antidilutive.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Aggregate the Fair Values of these Financial Assets and Liabilities	The tables below aggregate the fair values of these financial assets and liabilities by their levels in the fair value hierarchy. (Amounts in thousands) As of December 31, 2023 Total Level 1 Level 2 Level 3 Deferred compensation plan assets ($26,363 included in restricted cash and $78,883 in other assets) $ 105,246 $ 58,956 $ — $ 46,290 Loans receivable (included in investments in partially owned entities) 32,984 — — 32,984 Interest rate swaps and caps designated as a hedge (included in other assets) 138,772 — 138,772 — Interest rate caps not designated as a hedge (included in other assets) 4,154 — 4,154 — Total assets $ 281,156 $ 58,956 $ 142,926 $ 79,274 Mandatorily redeemable instruments (included in other liabilities) $ 49,386 $ 49,386 $ — $ — Interest rate swaps designated as a hedge (included in other liabilities) 7,239 — 7,239 — Interest rate caps not designated as a hedge (included in other liabilities) 4,092 — 4,092 — Total liabilities $ 60,717 $ 49,386 $ 11,331 $ — (Amounts in thousands) As of December 31, 2022 Total Level 1 Level 2 Level 3 Investments in U.S. Treasury bills (1) $ 471,962 $ 471,962 $ — $ — Deferred compensation plan assets ($7,763 included in restricted cash and $88,559 in other assets) 96,322 57,406 — 38,916 Loans receivable ($50,091 included in investments in partially owned entities and $4,306 in other assets) 54,397 — — 54,397 Interest rate swaps and caps designated as a hedge (included in other assets) 183,804 — 183,804 — Interest rate caps not designated as a hedge (included in other assets) 5,994 — 5,994 — Total assets $ 812,479 $ 529,368 $ 189,798 $ 93,313 Mandatorily redeemable instruments (included in other liabilities) $ 49,383 $ 49,383 $ — $ — Interest rate caps not designated as a hedge (included in other liabilities) 2,741 — 2,741 — Total liabilities $ 52,124 $ 49,383 $ 2,741 $ — ____________________ (1) During the year ended December 31, 2023, we realized proceeds of $477,000 from maturing U.S. Treasury bills.
Schedule of Changes in Fair Value of Deferred Compensation Plan Assets	The table below summarizes the changes in the fair value of deferred compensation plan assets that are classified as Level 3. (Amounts in thousands) For the Year Ended December 31, 2023 2022 Beginning balance $ 38,916 $ 45,016 Purchases 7,855 4,507 Sales (5,080) (9,941) Realized and unrealized gains (losses) 982 (3,781) Other, net 3,617 3,115 Ending balance $ 46,290 $ 38,916
Schedule of Fair Value Inputs Quantitative Information	Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of these loans receivable. As of December 31, 2023 December 31, 2022 Unobservable quantitative inputs (range and weighted average): Discount rates 8.0% 7.5% Terminal capitalization rates 5.5% 5.5% The fair value of these assets was measured using discounted cash flow analyses and level 3 inputs. Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of these real estate assets. As of December 31, 2023 December 31, 2022 Unobservable Quantitative Input Range Weighted Average Range Weighted Average Discount rates 7.50% - 8.00% 7.99% 7.50% - 8.00% 7.52% Terminal capitalization rates 5.50% 5.50% 4.75% - 5.50% 4.78%
Schedule of Changes In Fair Value of Loans Receivable	The table below summarizes the changes in the fair value of the Fund and the Crowne Plaza Joint Venture. (Amounts in thousands) For the Year Ended December 31, 2023 2022 Beginning balance $ — $ 7,730 Previously recorded unrealized loss on exited investments 247,575 59,396 Net realized loss on exited investments (245,714) (54,255) Net unrealized loss on held investments — (7,730) Dispositions (1,861) (5,141) Ending balance $ — $ — The table below summarizes the changes in fair value of loans receivable that are classified as Level 3. (Amounts in thousands) For the Year Ended December 31, 2023 2022 Beginning balance $ 54,397 $ 50,182 Credit losses (26,155) (1) — Interest accrual 5,153 4,748 Paydowns (411) (533) Ending balance $ 32,984 $ 54,397 ____________________ (1) Includes a $21,114 impairment loss on advances made for our interest in a joint venture, resulting from a decline in the value of the underlying building. The loss was included in “income (loss) from partially owned entities” on our consolidated statements of income for the year ended December 31, 2023.
Schedule of Derivative Assets at Fair Value	The following table summarizes our consolidated hedging instruments, all of which hedge variable rate debt, as of December 31, 2023 and 2022, respectively. (Amounts in thousands) As of December 31, 2023 As of Notional Amount All-In Swapped Rate Swap/Cap Expiration Date Fair Value Asset Fair Value Liability Fair Value Asset Interest rate swaps: 555 California Street mortgage loan: In-place swap $ 840,000 (1) 2.29% 05/24 $ 15,494 $ — $ 49,888 Forward swap (effective 05/24) 840,000 (1) 6.03% 05/26 — 6,091 — 770 Broadway mortgage loan 700,000 4.98% 07/27 20,306 — 29,226 PENN 11 mortgage loan: In-place swap 500,000 2.22% 03/24 4,702 — 26,587 Forward swap (effective 03/24) 250,000 (2) 6.34% 10/25 — 1,148 — Unsecured revolving credit facility 575,000 3.87% 08/27 17,064 — 24,457 Unsecured term loan (3) 700,000 4.52% (3) 11,089 — 21,024 100 West 33rd Street mortgage loan 480,000 5.06% 06/27 3,550 — 6,886 888 Seventh Avenue mortgage loan 200,000 (4) 4.76% 09/27 4,340 — 6,544 4 Union Square South mortgage loan 98,200 (5) 3.74% 01/25 2,327 — 4,050 Interest rate caps: 1290 Avenue of the Americas mortgage loan 950,000 (6) 11/25 53,784 — 7,590 One Park Avenue mortgage loan 525,000 (7) 03/25 5,297 — 5,472 Various mortgage loans 819 — 2,080 $ 138,772 $ 7,239 $ 183,804 ________________________________________ (1) Represents our 70.0% share of the $1.2 billion mortgage loan. In March 2023, we entered into the forward swap arrangement detailed above. (2) In January 2024, we entered into a forward swap arrangement for the remaining $250,000 balance of the $500,000 PENN 11 mortgage loan which is effective upon the March 2024 expiration of the current in-place swap. Together with the forward swap above, the loan will bear interest at an all-in swapped rate of 6.28% effective March 2024 through October 2025. (3) Represents the aggregate fair value of various interest rate swap arrangements to hedge interest payments on our unsecured term loan, which matures in December 2027. The impact of these interest rate swap arrangements is detailed below: Swapped Balance All-In Swapped Rate Unswapped Balance Through 07/25 $ 700,000 4.52% $ 100,000 07/25 through 10/26 550,000 4.35% 250,000 10/26 through 08/27 50,000 4.03% 750,000 2022 includes the fair value of a $100,000 notional swap which expired in October 2023. (4) The remaining $59,800 mortgage loan balance bears interest at a floating rate of SOFR plus 1.80% (7.14% as of December 31, 2023). (5) The remaining $21,800 mortgage loan balance bears interest at a floating rate of SOFR plus 1.50% (6.84% as of December 31, 2023). (6) Current SOFR strike rate of 1.00%. In connection with the arrangement, we made a $63,100 up-front payment, of which $18,930 was attributable to noncontrolling interests. See Note 9 - Debt for further information. (7) Current SOFR cap strike rate of 3.89%. In March 2023, we entered into a forward cap arrangement which is effective upon the March 2024 expiration of the current in-place cap and expires in March 2025. The forward cap has a SOFR strike rate of 3.89%.
Schedule of Derivative Liabilities at Fair Value	The following table summarizes our consolidated hedging instruments, all of which hedge variable rate debt, as of December 31, 2023 and 2022, respectively. (Amounts in thousands) As of December 31, 2023 As of Notional Amount All-In Swapped Rate Swap/Cap Expiration Date Fair Value Asset Fair Value Liability Fair Value Asset Interest rate swaps: 555 California Street mortgage loan: In-place swap $ 840,000 (1) 2.29% 05/24 $ 15,494 $ — $ 49,888 Forward swap (effective 05/24) 840,000 (1) 6.03% 05/26 — 6,091 — 770 Broadway mortgage loan 700,000 4.98% 07/27 20,306 — 29,226 PENN 11 mortgage loan: In-place swap 500,000 2.22% 03/24 4,702 — 26,587 Forward swap (effective 03/24) 250,000 (2) 6.34% 10/25 — 1,148 — Unsecured revolving credit facility 575,000 3.87% 08/27 17,064 — 24,457 Unsecured term loan (3) 700,000 4.52% (3) 11,089 — 21,024 100 West 33rd Street mortgage loan 480,000 5.06% 06/27 3,550 — 6,886 888 Seventh Avenue mortgage loan 200,000 (4) 4.76% 09/27 4,340 — 6,544 4 Union Square South mortgage loan 98,200 (5) 3.74% 01/25 2,327 — 4,050 Interest rate caps: 1290 Avenue of the Americas mortgage loan 950,000 (6) 11/25 53,784 — 7,590 One Park Avenue mortgage loan 525,000 (7) 03/25 5,297 — 5,472 Various mortgage loans 819 — 2,080 $ 138,772 $ 7,239 $ 183,804 ________________________________________ (1) Represents our 70.0% share of the $1.2 billion mortgage loan. In March 2023, we entered into the forward swap arrangement detailed above. (2) In January 2024, we entered into a forward swap arrangement for the remaining $250,000 balance of the $500,000 PENN 11 mortgage loan which is effective upon the March 2024 expiration of the current in-place swap. Together with the forward swap above, the loan will bear interest at an all-in swapped rate of 6.28% effective March 2024 through October 2025. (3) Represents the aggregate fair value of various interest rate swap arrangements to hedge interest payments on our unsecured term loan, which matures in December 2027. The impact of these interest rate swap arrangements is detailed below: Swapped Balance All-In Swapped Rate Unswapped Balance Through 07/25 $ 700,000 4.52% $ 100,000 07/25 through 10/26 550,000 4.35% 250,000 10/26 through 08/27 50,000 4.03% 750,000 2022 includes the fair value of a $100,000 notional swap which expired in October 2023. (4) The remaining $59,800 mortgage loan balance bears interest at a floating rate of SOFR plus 1.80% (7.14% as of December 31, 2023). (5) The remaining $21,800 mortgage loan balance bears interest at a floating rate of SOFR plus 1.50% (6.84% as of December 31, 2023). (6) Current SOFR strike rate of 1.00%. In connection with the arrangement, we made a $63,100 up-front payment, of which $18,930 was attributable to noncontrolling interests. See Note 9 - Debt for further information. (7) Current SOFR cap strike rate of 3.89%. In March 2023, we entered into a forward cap arrangement which is effective upon the March 2024 expiration of the current in-place cap and expires in March 2025. The forward cap has a SOFR strike rate of 3.89%.
Fair Value Measurements on a Nonrecurring Basis	During the years ended December 31, 2023 and 2022, we recognized impairment losses on certain real estate investments. The following table sets forth the details of our impairment losses. (Amounts in thousands) As of and For The Years Ended December 31, 2023 December 31, 2022 Aggregate Fair Value Impairment Losses Aggregate Fair Value Impairment Losses Consolidated real estate assets $ 55,097 $ 45,007 (1) $ 80,008 $ 19,098 Investments in partially owned entities 21,473 29,344 (2) 2,272,320 583,212 (3) $ 76,570 $ 74,351 $ 2,352,328 $ 602,310 ________________________________________ (1) Includes $22,176 attributable to noncontrolling interests. (2) Excludes a $21,114 impairment loss on advances made for our interest in a joint venture. (3) Includes $6,822 attributable to noncontrolling interests.
Schedule of Carrying Amounts and Fair Values of Financial Instruments	The table below summarizes the carrying amounts and fair value of these financial instruments. (Amounts in thousands) As of December 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Cash equivalents $ 825,720 $ 826,000 $ 402,903 $ 403,000 Debt: Mortgages payable $ 5,729,615 $ 5,569,000 $ 5,877,615 $ 5,697,000 Senior unsecured notes 1,200,000 1,069,000 1,200,000 1,021,000 Unsecured term loan 800,000 800,000 800,000 800,000 Unsecured revolving credit facilities 575,000 575,000 575,000 575,000 Total $ 8,304,615 (1) $ 8,013,000 $ 8,452,615 (1) $ 8,093,000 ________________________________________ (1) Excludes $53,163 and $63,572 of deferred financing costs, net and other as of December 31, 2023 and 2022, respectively.

Impairment Losses, Transactio_2

Impairment Losses, Transaction Related Costs and Other (Tables)	12 Months Ended
	Dec. 31, 2023
Transaction Related Costs, Impairment Losses and Other [Abstract]
Schedule of Impairment Losses and Transaction Related Costs, Net	The following table sets forth the details of impairment losses, transaction related costs and other: (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Real estate impairment losses (1) $ 45,007 $ 19,098 $ 7,880 Transaction related costs and other 5,684 12,624 5,935 $ 50,691 $ 31,722 $ 13,815 ________________________________________ (1) See Note 15 - Fair Value Measurements for additional information. 2023 includes $22,176 of impairment loss attributable to noncontrolling interests.

Interest and Other Investment_2

Interest and Other Investment Income, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Interest and Other Income [Abstract]
Schedule of Interest and Other Investment Income, Net	The following table sets forth the details of interest and other investment income, net: (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Interest on cash and cash equivalents and restricted cash $ 44,786 $ 7,553 $ 284 Credit losses on investments (8,269) — — Amortization of discount on investments in U.S. Treasury bills 3,829 7,075 — Interest on loans receivable 1,351 5,006 2,517 Other, net — 235 1,811 $ 41,697 $ 19,869 $ 4,612

Interest and Debt Expense (Tabl

Interest and Debt Expense (Tables)	12 Months Ended
	Dec. 31, 2023
Interest and Debt Expense [Abstract]
Schedule of Interest And Debt Expense	The following table sets forth the details of interest and debt expense: (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Interest expense (1) $ 368,984 $ 277,046 $ 249,169 Capitalized interest and debt expense (43,062) (19,085) (38,320) Amortization of deferred financing fees 23,301 21,804 20,247 $ 349,223 $ 279,765 $ 231,096 ________________________________________ (1) 2021 includes $23,729 of defeasance costs, of which $7,119 is attributable to noncontrolling interests, in connection with the refinancing of 1290 Avenue of the Americas, a property in which we own a 70% controlling interest.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Future Undiscounted Cash Flows Under Non-Cancelable Operating Leases	As of December 31, 2023, future undiscounted cash flows under non-cancelable operating leases were as follows: (Amounts in thousands) As of December 31, 2023 For the year ended December 31, 2024 $ 1,271,885 2025 1,207,370 2026 1,168,555 2027 1,061,307 2028 962,067 Thereafter 6,254,989
Schedule of Amounts Included in Measurement of Lease Liability	The following table sets forth information related to the measurement of our lease liabilities. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Weighted average remaining lease term (in years) 47.9 48.4 44.4 Weighted average discount rate 5.59 % 5.54 % 4.85 % Cash paid for operating leases $ 22,499 $ 21,861 $ 22,382
Schedule of Rent Expense	The following table sets forth the details of our rent expense. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Fixed rent expense $ 46,538 $ 45,211 $ 24,901 Variable rent expense 14,679 14,180 13,078 Rent expense $ 61,217 $ 59,391 $ 37,979
Schedule of Future Lease Payments Under Operating Ground Leases	As of December 31, 2023, future lease payments under operating ground leases were as follows: (Amounts in thousands) As of December 31, 2023 For the year ended December 31, 2024 $ 57,811 2025 46,227 2026 46,616 2027 47,027 2028 47,462 Thereafter 1,869,172 Total undiscounted cash flows 2,114,315 Present value discount (1,381,456) Lease liabilities $ 732,859

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Information	Below is a summary of NOI at share and NOI at share - cash basis by segment for the years ended December 31, 2023, 2022 and 2021. (Amounts in thousands) For the Year Ended December 31, 2023 Total New York Other Total revenues $ 1,811,163 $ 1,452,158 $ 359,005 Operating expenses (905,158) (733,478) (171,680) NOI - consolidated 906,005 718,680 187,325 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (48,553) (15,547) (33,006) Add: NOI from partially owned entities 285,761 274,436 11,325 NOI at share 1,143,213 977,569 165,644 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other (3,377) (7,700) 4,323 NOI at share - cash basis $ 1,139,836 $ 969,869 $ 169,967 (Amounts in thousands) For the Year Ended December 31, 2022 Total New York Other Total revenues $ 1,799,995 $ 1,449,442 $ 350,553 Operating expenses (873,911) (716,148) (157,763) NOI - consolidated 926,084 733,294 192,790 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (70,029) (45,566) (24,463) Add: NOI from partially owned entities 305,993 293,780 12,213 NOI at share 1,162,048 981,508 180,540 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other (10,980) (18,509) 7,529 NOI at share - cash basis $ 1,151,068 $ 962,999 $ 188,069 (Amounts in thousands) For the Year Ended December 31, 2021 Total New York Other Total revenues $ 1,589,210 $ 1,257,599 $ 331,611 Operating expenses (797,315) (626,386) (170,929) NOI - consolidated 791,895 631,213 160,682 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (69,385) (38,980) (30,405) Add: NOI from partially owned entities 310,858 300,721 10,137 NOI at share 1,033,368 892,954 140,414 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other 1,318 (1,188) 2,506 NOI at share - cash basis $ 1,034,686 $ 891,766 $ 142,920 23. Segment Information - continued Below is a reconciliation of net income (loss) to NOI at share and NOI at share - cash basis for the years ended December 31, 2023, 2022 and 2021. (Amounts in thousands) For the Year Ended December 31, 2023 2022 2021 Net income (loss) $ 32,888 $ (382,612) $ 207,553 Depreciation and amortization expense 434,273 504,502 412,347 General and administrative expense 162,883 133,731 134,545 Impairment losses, transaction related costs and other 50,691 31,722 13,815 (Income) loss from partially owned entities (38,689) 461,351 (130,517) Income from real estate fund investments (1,590) (3,541) (11,066) Interest and other investment income, net (41,697) (19,869) (4,612) Interest and debt expense 349,223 279,765 231,096 Net gains on disposition of wholly owned and partially owned assets (71,199) (100,625) (50,770) Income tax expense (benefit) 29,222 21,660 (10,496) NOI from partially owned entities 285,761 305,993 310,858 NOI attributable to noncontrolling interests in consolidated subsidiaries (48,553) (70,029) (69,385) NOI at share 1,143,213 1,162,048 1,033,368 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other (3,377) (10,980) 1,318 NOI at share - cash basis $ 1,139,836 $ 1,151,068 $ 1,034,686

Organization and Business (Deta

Organization and Business (Details) ft² in Millions	12 Months Ended
	Dec. 31, 2023 ft² property building unit
Alexander's
Real Estate Properties
Equity method ownership percentage	32.40%
New York | Manhattan
Real Estate Properties
Number of real estate properties | property	57
New York | Manhattan | Office Building
Real Estate Properties
Number of real estate properties | property	30
Square footage of real estate property | ft²	20.4
New York | Manhattan | Retail
Real Estate Properties
Number of real estate properties | property	50
Square footage of real estate property | ft²	2.4
New York | Manhattan | Residential Properties
Real Estate Properties
Number of real estate properties | property	5
Number of units in real estate property | unit	1,662
New York | New York City Metropolitan Area | Alexander's
Real Estate Properties
Number of real estate properties | property	5
Equity method ownership percentage	32.40%
New York | New York City Metropolitan Area | Alexander's | 731 Lexington Avenue
Real Estate Properties
Square footage of real estate property | ft²	1.1
New York | New York City Metropolitan Area | Residential Properties | Alexander's
Real Estate Properties
Number of units in real estate property | unit	312
Other | Chicago | THE MART, Illinois
Real Estate Properties
Square footage of real estate property | ft²	3.7
Other | San Francisco | Office Building | 555 California Street, California
Real Estate Properties
Square footage of real estate property | ft²	1.8
Number of buildings | building	3
Other | San Francisco | Office Building | 555 California Street, California | 555 California Street, California
Real Estate Properties
Equity method ownership percentage	70%
Operating Partnership
Real Estate Properties
Common limited partnership interest in the Operating Partnership	91%

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Recently Issued Accounting Literature) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Long term debt	$ 2,563,432	$ 2,560,025
Prime Rate | 731 Lexington Avenue
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership interest	32.40%
731 Lexington Avenue | Mortgages Payable | Prime Rate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Long term debt	$ 500,000

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies (Real Estate) (Details)	Dec. 31, 2023
Minimum
Real Estate [Line Items]
Real estate and accumulated depreciation life used for depreciation	7 years
Maximum
Real Estate [Line Items]
Real estate and accumulated depreciation life used for depreciation	40 years

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies (Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Deferred tax assets, net	$ 7,557	$ 7,944
Deferred tax liabilities	74,721	54,597
Income tax expense (benefit)	$ 29,222	$ 21,660	$ (10,496)
Effective income tax reconciliation, percent	(47.00%)	6%	5.30%
Estimated taxable income net	$ 102,903	$ 398,644	$ 413,026
Net basis difference of assets and liabilities between tax basis and GAAP basis	1,500,000
The Farley Building
Income Tax Contingency [Line Items]
Income tax expense (benefit)	11,722	13,665	10,868
Taxable Reit Subsidiaries
Income Tax Contingency [Line Items]
Income tax expense (benefit)			27,910
220 Central Park South
Income Tax Contingency [Line Items]
Income tax expense (benefit)		$ 6,016	$ 5,711
Federal Tax Authority
Income Tax Contingency [Line Items]
Net operating loss carryforwards	162,000
Net operating loss carryforwards, valuation allowance	144,000
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Net operating loss carryforwards	259,000
Net operating loss carryforwards, valuation allowance	$ 242,000
Ordinary Income
Income Tax Contingency [Line Items]
Percentage of taxable income distributed	100%	100%	84.20%
Qualified Dividend
Income Tax Contingency [Line Items]
Percentage of taxable income distributed			15.80%

Revenue Recognition (Summary of

Revenue Recognition (Summary of Revenues by Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Total revenues
Lease revenues	$ 1,544,671	$ 1,543,317	$ 1,373,691
Total revenues	1,811,163	1,799,995	1,589,210
Loss contingency, damages awarded, value	21,350
Non- controlling Interests in Consolidated Subsidiaries
Disaggregation of Revenue [Line Items]
Loss contingency, damages awarded, value	6,405
Rental revenues
Disaggregation of Revenue [Line Items]
Total revenues	1,607,486	1,607,685	1,424,531
Lease Revenues
Disaggregation of Revenue [Line Items]
Lease revenues	1,544,671	1,543,317	1,373,691
Property rentals
Disaggregation of Revenue [Line Items]
Lease revenues	1,523,890	1,510,648	1,354,209
Trade shows
Disaggregation of Revenue [Line Items]
Lease revenues	20,781	32,669	19,482
Tenant services
Disaggregation of Revenue [Line Items]
Revenues	42,460	45,211	37,449
Parking revenues
Disaggregation of Revenue [Line Items]
Revenues	20,355	19,157	13,391
Fee and other income
Disaggregation of Revenue [Line Items]
Revenues	203,677	192,310	164,679
Total revenues	203,677	192,310	164,679
BMS cleaning fees
Disaggregation of Revenue [Line Items]
Revenues	141,937	137,673	119,780
Management and leasing fees
Disaggregation of Revenue [Line Items]
Revenues	13,040	11,039	11,725
Other income
Disaggregation of Revenue [Line Items]
Revenues	48,700	43,598	33,174
New York
Disaggregation of Revenue [Line Items]
Total revenues	1,452,158	1,449,442	1,257,599
New York | Rental revenues
Disaggregation of Revenue [Line Items]
Total revenues	1,269,817	1,280,181	1,109,234
New York | Lease Revenues
Disaggregation of Revenue [Line Items]
Lease revenues	1,222,229	1,230,851	1,071,816
New York | Property rentals
Disaggregation of Revenue [Line Items]
Lease revenues	1,222,229	1,230,851	1,071,816
New York | Trade shows
Disaggregation of Revenue [Line Items]
Lease revenues	0	0	0
New York | Tenant services
Disaggregation of Revenue [Line Items]
Revenues	31,086	33,351	26,048
New York | Parking revenues
Disaggregation of Revenue [Line Items]
Revenues	16,502	15,979	11,370
New York | Fee and other income
Disaggregation of Revenue [Line Items]
Revenues	182,341	169,261	148,365
New York | BMS cleaning fees
Disaggregation of Revenue [Line Items]
Revenues	151,608	146,530	126,891
New York | Management and leasing fees
Disaggregation of Revenue [Line Items]
Revenues	13,619	11,645	12,177
New York | Other income
Disaggregation of Revenue [Line Items]
Revenues	17,114	11,086	9,297
Other
Disaggregation of Revenue [Line Items]
Total revenues	359,005	350,553	331,611
Other | Rental revenues
Disaggregation of Revenue [Line Items]
Total revenues	337,669	327,504	315,297
Other | Lease Revenues
Disaggregation of Revenue [Line Items]
Lease revenues	322,442	312,466	301,875
Other | Property rentals
Disaggregation of Revenue [Line Items]
Lease revenues	301,661	279,797	282,393
Other | Trade shows
Disaggregation of Revenue [Line Items]
Lease revenues	20,781	32,669	19,482
Other | Tenant services
Disaggregation of Revenue [Line Items]
Revenues	11,374	11,860	11,401
Other | Parking revenues
Disaggregation of Revenue [Line Items]
Revenues	3,853	3,178	2,021
Other | Fee and other income
Disaggregation of Revenue [Line Items]
Revenues	21,336	23,049	16,314
Other | BMS cleaning fees
Disaggregation of Revenue [Line Items]
Revenues	(9,671)	(8,857)	(7,111)
Other | Management and leasing fees
Disaggregation of Revenue [Line Items]
Revenues	(579)	(606)	(452)
Other | Other income
Disaggregation of Revenue [Line Items]
Revenues	$ 31,586	$ 32,512	$ 23,877

Revenue Recognition (Schedule o

Revenue Recognition (Schedule of Components of Lease Revenues) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Fixed billings	$ 1,387,731	$ 1,376,527	$ 1,277,645
Variable billings	150,045	122,947	108,850
Total contractual operating lease billings	1,537,776	1,499,474	1,386,495
Adjustment for straight-line rents and amortization of acquired below-market leases and other, net	12,756	44,715	(5,109)
Less: write-off of straight-line rent and tenant receivables deemed uncollectible	(5,861)	(872)	(7,695)
Lease revenues	$ 1,544,671	$ 1,543,317	$ 1,373,691

Real Estate Fund Investments (N

Real Estate Fund Investments (Narrative) (Details)		12 Months Ended
	Dec. 27, 2023 USD ($)	Dec. 31, 2023 USD ($) investment	Sep. 28, 2023	Jun. 30, 2020 USD ($)
Joint Venture
Investments Holding [Line Items]
Number of investments held by fund | investment		1
Real estate fund investment carrying value		$ 0
Fair value below cost		28,815,000
Unfunded commitments of fund		23,074,000
Joint Venture | Vornado Realty Trust
Investments Holding [Line Items]
Unfunded commitments of fund		$ 5,769,000
Vornado Capital Partners Real Estate Fund
Investments Holding [Line Items]
Ownership interest		25%
Term of the fund, years		8 years
Investment period for commitments of the fund, years		3 years
Vornado Capital Partners Real Estate Fund | Joint Venture
Investments Holding [Line Items]
Payment for fund of incentive allocations	$ 14,667,000
Crowne Plaza Times Square Hotel Joint Venture | Joint Venture
Investments Holding [Line Items]
Ownership interest			57.10%
Debt default, amount				$ 274,355,000
Crowne Plaza Times Square Hotel Joint Venture | Joint Venture | Crowne Plaza Time Square Hotel
Investments Holding [Line Items]
Ownership percentage by noncontrolling owners			24.30%
Ownership percentage by parent			32.80%

Real Estate Fund Investments (S

Real Estate Fund Investments (Schedule of Income (Loss) from the Fund and the Crowne Plaza Joint Venture) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate Fund Investments [Line Items]
Less loss (income) attributable to noncontrolling interests in consolidated subsidiaries	$ 75,967	$ 5,737	$ (24,014)
Joint Venture
Real Estate Fund Investments [Line Items]
Previously recorded unrealized loss on exited investments	247,575	59,396	0
Net realized (loss) income on exited investments	(245,714)	(54,255)	1,364
Net unrealized (loss) income on held investments	0	(7,730)	3,257
Net investment (loss) income	(271)	6,130	6,445
Income from real estate fund investments	1,590	3,541	11,066
Less loss (income) attributable to noncontrolling interests in consolidated subsidiaries	12,789	(1,870)	(7,309)
Income from real estate fund investments net of noncontrolling interests in consolidated subsidiaries	$ 14,379	$ 1,671	$ 3,757

Real Estate Fund Investments _2

Real Estate Fund Investments (Schedule of Changes in Fair Value of Fund and the Crowne Plaza Joint Venture) (Details) - Joint Venture - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 0	$ 7,730
Previously recorded unrealized loss on exited investments	247,575	59,396
Net realized loss on exited investments	(245,714)	(54,255)
Net unrealized loss on held investments	0	(7,730)
Dispositions	(1,861)	(5,141)
Ending balance	$ 0	$ 0

Investments in Partially Owne_3

Investments in Partially Owned Entities (Fifth Avenue and Times Square JV) (Details) $ in Thousands			12 Months Ended
	Apr. 19, 2024	Jun. 14, 2023 USD ($) extension_option	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Total revenues			$ 1,811,163	$ 1,799,995	$ 1,589,210
Fee and other income
Schedule of Equity Method Investments [Line Items]
Total revenues			203,677	192,310	164,679
Joint Venture | Fee and other income | Fifth Avenue and Times Square JV
Schedule of Equity Method Investments [Line Items]
Total revenues			$ 4,499	4,571	3,993
Fifth Avenue and Times Square JV
Schedule of Equity Method Investments [Line Items]
Ownership interest			51.50%
Fifth Avenue and Times Square JV | Joint Venture
Schedule of Equity Method Investments [Line Items]
Aggregate of preferred equity interests			$ 1,828,000
Real estate basis difference, carrying amount			$ 840,300
Property management fee agreement percentage of income			2%
Development fee percent			5%
Supervisory fee, percent			1.50%
Loan amount after payment				421,000
Restructured loan amount		$ 355,000
Fifth Avenue and Times Square JV | Joint Venture | Senior unsecured notes
Schedule of Equity Method Investments [Line Items]
Restructured loan amount		$ 325,000
Fifth Avenue and Times Square JV | Joint Venture | Senior unsecured notes | SOFR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate		2%
Fifth Avenue and Times Square JV | Joint Venture | Junior Notes
Schedule of Equity Method Investments [Line Items]
Debt instrument, interest rate, stated percentage		4%
Restructured loan amount		$ 30,000
Fifth Avenue and Times Square JV | Joint Venture | Junior Notes | Maturing In June 2025
Schedule of Equity Method Investments [Line Items]
Restructured loan, number of extension options | extension_option		2
Restructured loan, extension option, term		1 year
Fifth Avenue and Times Square JV | Joint Venture | Junior Notes | Maturing in March 2028
Schedule of Equity Method Investments [Line Items]
Restructured loan, number of extension options | extension_option		1
Restructured loan, extension option, term		9 months
Fifth Avenue and Times Square JV | Joint Venture | Fee and other income
Schedule of Equity Method Investments [Line Items]
Property management fee income			$ 4,587	$ 4,397	$ 4,297
Fifth Avenue and Times Square JV | Joint Venture | Percentage For First Five Years
Schedule of Equity Method Investments [Line Items]
Debt instrument, interest rate, stated percentage			4.25%
Fifth Avenue and Times Square JV | Joint Venture | Increase in Percentage After Fifth Anniversary
Schedule of Equity Method Investments [Line Items]
Debt instrument, interest rate, stated percentage			4.75%
Debt term			5 years
Fifth Avenue and Times Square JV | Investors | Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership interest			48.50%
Equity method investment, effective ownership percentage			47.20%
Fifth Avenue and Times Square JV | Vornado Realty Trust | Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership interest			51.50%
Equity method investment, effective ownership percentage			51%
Fifth Avenue and Times Square JV | Vornado Realty Trust | Joint Venture | Investors | Forecast
Schedule of Equity Method Investments [Line Items]
Transfer threshold	50%
Fifth Avenue and Times Square JV | Vornado Realty Trust | Joint Venture | VRLP | Forecast
Schedule of Equity Method Investments [Line Items]
Transfer threshold	50%

Investments in Partially Owne_4

Investments in Partially Owned Entities (Alexander's Inc.) (Details)		12 Months Ended
	May 19, 2023 USD ($)	Dec. 31, 2023 USD ($) $ / shares $ / ft² shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Tenant and other receivables		$ 69,543,000	$ 81,170,000
Alexander's
Schedule of Equity Method Investments [Line Items]
Ownership interest		32.40%
Net realized (loss) income on exited investments		$ 16,396,000	0	$ 14,576,000
Alexander's | Equity Method Investee
Schedule of Equity Method Investments [Line Items]
Investment owned, balance (in shares) | shares		1,654,068
Ownership interest		32.40%
Tenant and other receivables		$ 715,000	801,000
Closing share price (in dollars per share) | $ / shares		$ 213.57
Equity method investment fair value		$ 353,259,000
Excess of investee's fair value over carrying amount		265,749,000
Excess of investee's carrying amount over equity in net assets		29,524,000
Management fee income		$ 2,800,000
Development fee percent		6%
Lease fee percentage of rent one to ten years		3%
Lease fee percentage of rent eleven to twenty years		2%
Lease fee percentage of rent twenty first to thirty years		1%
Percentage increase lease fee if broker used		1%
Percentage commissions on sale of assets under fifty million		3%
Asset sale commission threshold		$ 50,000,000
Percentage commissions on sale of assets over fifty million		1%
Equity method investment, agreement to sell, amount	$ 71,060,000
Net realized (loss) income on exited investments	16,396,000
Proceeds from commissions received	711,000
Commissions paid to third-party broker	$ 250,000
Alexander's | Equity Method Investee | Fee and other income
Schedule of Equity Method Investments [Line Items]
Fee income recognized by equity method investees for building maintenance services		$ 4,629,000	$ 4,601,000	$ 4,234,000
Alexander's | Equity Method Investee | Rego Park 2 Property
Schedule of Equity Method Investments [Line Items]
Property management fee agreement percentage of income		2%
Alexander's | Equity Method Investee | 731 Lexington Avenue
Schedule of Equity Method Investments [Line Items]
Property management fee agreement price per square foot | $ / ft²		0.50
Alexander's | Equity Method Investee | Common Area 731 Lexington Avenue
Schedule of Equity Method Investments [Line Items]
Management fee income		$ 365,000
Property management fee agreement escalation percentage of income		3%

Investments in Partially Owne_5

Investments in Partially Owned Entities (512 West 22nd Street) (Details) ft² in Thousands, $ in Thousands	Jun. 28, 2023 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Loans payable		$ 5,688,020	$ 5,829,018
512 West 22nd Street | Interest Rate Cap
Schedule of Equity Method Investments [Line Items]
Cap term	2 years
Cap strike rate	4.50%
512 West 22nd Street | Maturing In June 2025
Schedule of Equity Method Investments [Line Items]
Extension term	1 year
512 West 22nd Street | Office Building | Maturing In June 2025
Schedule of Equity Method Investments [Line Items]
Loans payable	$ 129,250
Square footage of real estate property | ft²	173
512 West 22nd Street | Office Building | Maturing In June 2025 | Year One SOFR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	2%
512 West 22nd Street | Office Building | Maturing In June 2025 | Year Two SOFR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	2.35%
512 West 22nd Street | Office Building | Maturing In June 2023
Schedule of Equity Method Investments [Line Items]
Loans payable	$ 137,124
512 West 22nd Street | Office Building | Maturing In June 2023 | LIBOR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	1.85%
512 West 22nd Street | Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership interest	55%

Investments in Partially Owne_6

Investments in Partially Owned Entities (825 Seventh Avenue) (Details) ft² in Thousands, $ in Thousands	Jul. 24, 2023 USD ($) ft²	Jul. 23, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Loans payable			$ 5,688,020	$ 5,829,018
825 Seventh Avenue | Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership interest	50%
825 Seventh Avenue | Maturing In January 2026 | Office And Retail Building
Schedule of Equity Method Investments [Line Items]
Loans payable	$ 54,000
Square footage of real estate property | ft²	173
Basis point reduction available	0.30%
825 Seventh Avenue | Maturing In January 2026 | Office And Retail Building | SOFR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	2.75%
825 Seventh Avenue | Maturing In July 2023 | Office And Retail Building
Schedule of Equity Method Investments [Line Items]
Loans payable		$ 60,000
825 Seventh Avenue | Maturing In July 2023 | Office And Retail Building | LIBOR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate		2.35%

Investments in Partially Owne_7

Investments in Partially Owned Entities (Sunset Pier 94 Joint Venture) (Details) ft² in Thousands, $ in Thousands		12 Months Ended
	Aug. 28, 2023 USD ($) ft² extension_option renewal_option	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Initial investment in Pier 94 joint venture upon contribution of leasehold interest		$ 50,090	$ 0	$ 0
Net gains on disposition of wholly owned and partially owned assets		71,199	$ 100,625	$ 50,770
Sunset Pier 94 Studios [Member] | Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership interest	49.90%
Initial capital account	$ 47,944
Initial investment in Pier 94 joint venture upon contribution of leasehold interest	40,000
Credit for pre-development costs	$ 7,994
Number of renewal options | renewal_option	5
Lease term	10 years
Net gains on disposition of wholly owned and partially owned assets	$ 35,968
Fees earned	50%
Sunset Pier 94 Studios [Member] | Joint Venture | Estimated
Schedule of Equity Method Investments [Line Items]
Cash contribution upon the joint venture’s formation	$ 34,000
Construction loan	183,200
Estimated development budget	350,000
Equity contributions	166,800
Development fees and reimbursement overhead cost incurred	9,000
Sunset Pier 94 Studios [Member] | Joint Venture | Construction Loan Payable
Schedule of Equity Method Investments [Line Items]
Construction loan	$ 183,200
Construction loan outstanding		$ 100
Sunset Pier 94 Studios [Member] | Joint Venture | Construction Loan Payable | Maturing In September 2025, As-of-right Extension Option
Schedule of Equity Method Investments [Line Items]
Number of extension options | extension_option	1
Extension option period	1 year
Sunset Pier 94 Studios [Member] | Joint Venture | Construction Loan Payable | Maturing In September 2025, Extension Options Subject To Certain Conditions
Schedule of Equity Method Investments [Line Items]
Number of extension options | extension_option	2
Extension option period	1 year
Sunset Pier 94 Studios [Member] | Joint Venture | Construction Loan Payable | SOFR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	4.75%
Sunset Pier 94 Studios [Member] | Joint Venture | Hudson Pacific Properties and Blackstone (HPP/BX)
Schedule of Equity Method Investments [Line Items]
Ownership interest	50.10%
Initial capital account	$ 22,976
Credit for pre-development costs	7,976
Cash contribution upon the joint venture’s formation	$ 15,000
Cash contribution upon the joint venture’s formation, percentage	100%
Fees earned	50%
Campus Studios | Sunset Pier 94 Studios [Member]
Schedule of Equity Method Investments [Line Items]
Square footage of real estate property | ft²	266

Investments in Partially Owne_8

Investments in Partially Owned Entities (Schedule of Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Carrying amount of investments in partially owned entities	$ 2,610,558	$ 2,665,073
Other Liabilities
Schedule of Equity Method Investments [Line Items]
Carrying amount of investments in partially owned entities	$ (81,229)	(81,528)
Fifth Avenue and Times Square JV
Schedule of Equity Method Investments [Line Items]
Equity method ownership percentage	51.50%
Carrying amount of investments in partially owned entities	$ 2,242,972	2,272,320
Partially Owned Office Buildings/Land
Schedule of Equity Method Investments [Line Items]
Carrying amount of investments in partially owned entities	$ 118,558	182,180
Alexander's
Schedule of Equity Method Investments [Line Items]
Equity method ownership percentage	32.40%
Carrying amount of investments in partially owned entities	$ 87,510	87,796
Other investments
Schedule of Equity Method Investments [Line Items]
Carrying amount of investments in partially owned entities	$ 161,518	122,777
7 West 34th Street
Schedule of Equity Method Investments [Line Items]
Equity method ownership percentage	53%
7 West 34th Street | Other Liabilities
Schedule of Equity Method Investments [Line Items]
Carrying amount of investments in partially owned entities	$ (69,899)	(65,522)
85 Tenth Avenue
Schedule of Equity Method Investments [Line Items]
Equity method ownership percentage	49.90%
85 Tenth Avenue | Other Liabilities
Schedule of Equity Method Investments [Line Items]
Carrying amount of investments in partially owned entities	$ (11,330)	$ (16,006)

Investments in Partially Owne_9

Investments in Partially Owned Entities (Schedule of Income (Loss) ) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) investment	Dec. 31, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity in net income	$ 38,689	$ (461,351)	$ 130,517
Return on preferred equity, net of our share of the expense	172,873	184,501	214,521
Non-cash impairment loss	(45,007)	(19,098)	(7,880)
Our share of net income (loss)	38,689	(461,351)	130,517
Net gains on disposition of wholly owned and partially owned assets	$ 71,199	100,625	50,770
Fifth Avenue and Times Square JV
Schedule of Equity Method Investments [Line Items]
Ownership interest	51.50%
Equity in net income	$ 35,209	55,248	47,144
Return on preferred equity, net of our share of the expense	37,416	37,416	37,416
Non-cash impairment loss	0	(489,859)	0
Our share of net income (loss)	72,625	(397,195)	84,560
Default accrual interest amount	$ 5,120
Alexander's
Schedule of Equity Method Investments [Line Items]
Ownership interest	32.40%
Equity in net income	$ 15,441	18,439	20,116
Management, leasing and development fees	5,238	4,534	5,429
Net realized (loss) income on exited investments	16,396	0	14,576
Our share of net income (loss)	37,075	22,973	40,121
Partially Owned Office Buildings/Land
Schedule of Equity Method Investments [Line Items]
Our share of net income (loss)	(73,589)	(110,261)	6,384
Other investments
Schedule of Equity Method Investments [Line Items]
Our share of net income (loss)	2,578	23,132	$ (548)
Net gains on disposition of wholly owned and partially owned assets		$ 17,185
Number of investments | investment		2
650 Madison Avenue
Schedule of Equity Method Investments [Line Items]
Non-cash impairment loss	$ (50,458)	$ (93,353)

Investments in Partially Own_10

Investments in Partially Owned Entities (Schedule of Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
640 Fifth Avenue
Schedule of Equity Method Investments [Line Items]
Mortgage loans on real estate, face amount of mortgages	$ 500,000
7 West 34th Street
Schedule of Equity Method Investments [Line Items]
Mortgage loans on real estate, face amount of mortgages	300,000
Partially Owned Properties
Schedule of Equity Method Investments [Line Items]
Equity method investment pro rata share debt of partially owned entities	$ 2,654,701	$ 2,697,226
Partially Owned Office Buildings/Land
Schedule of Equity Method Investments [Line Items]
Debt instrument, interest rate, effective percentage	5.45%
Equity method investment debt of partially owned entities	$ 3,275,098	3,288,977
Alexander's
Schedule of Equity Method Investments [Line Items]
Equity method ownership percentage	32.40%
Debt instrument, interest rate, effective percentage	4.48%
Equity method investment debt of partially owned entities	$ 1,096,544	1,096,544
Fifth Avenue and Times Square JV
Schedule of Equity Method Investments [Line Items]
Equity method ownership percentage	51.50%
Debt instrument, interest rate, effective percentage	5.92%
Equity method investment debt of partially owned entities	$ 855,476	921,000
Other
Schedule of Equity Method Investments [Line Items]
Debt instrument, interest rate, effective percentage	5.16%
Equity method investment debt of partially owned entities	$ 1,365,954	$ 1,377,492

Investments in Partially Own_11

Investments in Partially Owned Entities (Schedule of Condensed Combined Financial Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate Properties
Assets	$ 16,187,665	$ 16,493,375
Liabilities	9,843,931	9,980,263
Noncontrolling interests	638,448	436,732
Equity	5,509,064	5,839,728
Total revenues	1,811,163	1,799,995	$ 1,589,210
Net income (loss)	32,888	(382,612)	207,553
Net income (loss) attributable to Vornado / Vornado Realty L.P.	105,494	(346,499)	175,999
Partially Owned Properties
Real Estate Properties
Assets	11,533,000	12,012,000
Liabilities	7,326,000	7,519,000
Noncontrolling interests	1,907,000	2,095,000
Equity	2,300,000	2,398,000
Total revenues	1,132,000	1,189,000	1,184,000
Net income (loss)	34,000	(404,000)	190,000
Net income (loss) attributable to Vornado / Vornado Realty L.P.	$ (40,000)	$ (483,000)	$ 114,000

350 Park Avenue (Details)

350 Park Avenue (Details) ft² in Thousands, $ in Thousands			12 Months Ended
	Jun. 20, 2023 USD ($)	Jan. 24, 2023 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Real Estate [Line Items]
Additions to real estate			$ 211,899	$ 159,796	$ 149,461
Vornado and Rudin
Real Estate [Line Items]
Ownership interest		40%
Vornado and Rudin | Vornado
Real Estate [Line Items]
Ownership interest		36%
Vornado and Rudin | Rudin
Real Estate [Line Items]
Ownership interest		4%
Vornado and Rudin | Rudin | Preferred Shares
Real Estate [Line Items]
Aggregate of preferred equity interests		$ 250,000
KG
Real Estate [Line Items]
Ownership interest		60%
Citadel Enterprise Americas LLC | New York City Metropolitan Area
Real Estate [Line Items]
Square footage of real estate property | ft²		850
Lease term		15 years
The Site
Real Estate [Line Items]
Real estate basis difference, carrying amount		$ 1,200,000
The Site | Vornado
Real Estate [Line Items]
Real estate basis difference, carrying amount		900,000
The Site | Rudin
Real Estate [Line Items]
Real estate basis difference, carrying amount		$ 300,000
The Site | Vornado and Rudin
Real Estate [Line Items]
Square footage of real estate property | ft²		1,700
Exercise of option to purchase		$ 1,400,000
The Site | Vornado and Rudin | KG
Real Estate [Line Items]
Option to acquire interest in joint venture, percentage		60%
The Site | Vornado and Rudin | Vornado
Real Estate [Line Items]
Exercise of option to purchase		$ 1,085,000
The Site | Vornado and Rudin | Rudin
Real Estate [Line Items]
Exercise of option to purchase		$ 315,000
39 East 51st Street | Vornado and Rudin
Real Estate [Line Items]
Joint venture funding percent	50%
Citadel Enterprise Americas LLC | 350 Park Avenue Office Building
Real Estate [Line Items]
Square footage of real estate property | ft²		585
Term of contract		10 years
Initial annual net rent		$ 36,000
Citadel Enterprise Americas LLC | 40 East 52nd Street
Real Estate [Line Items]
Square footage of real estate property | ft²		390
KG | The Site
Real Estate [Line Items]
Exercise of option to purchase		$ 1,200,000
Put option closing period		10 years
Termination payment		$ 200,000
KG | The Site | Vornado
Real Estate [Line Items]
Exercise of option to purchase		900,000
KG | The Site | Rudin
Real Estate [Line Items]
Exercise of option to purchase		$ 300,000
Rudin Management Co, Inc. | 39 East 51st Street | Vornado and Rudin
Real Estate [Line Items]
Additions to real estate	$ 40,000
Joint venture funding percent	50%

Dispositions (Details)

Dispositions (Details) - Discontinued Operations, Held-for-Sale or Disposed of by Sale $ in Thousands			12 Months Ended
	Aug. 10, 2023 USD ($) property	Jul. 03, 2023 USD ($)	Dec. 31, 2023 USD ($) property
Armory Trade Show
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received		$ 24,410
Cash proceeds from sale of real estate		22,489
Net realized (loss) income on exited investments		$ 20,181
Manhattan Retail Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received	$ 100,000
Cash proceeds from sale of real estate	95,450
Impairment loss	$ 625
Number of properties sold | property	4
220 Central Park South
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds from sale of real estate			$ 24,484
Net realized (loss) income on exited investments			$ 14,127
Number of properties sold | property			2
Income tax impact			$ 2,168

Identified Intangible Assets _3

Identified Intangible Assets and Liabilities (Schedule of Identified Intangible Assets and Intangible Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross amount	$ 225,671	$ 237,777
Accumulated amortization	(98,589)	(98,139)
Total, net	127,082	139,638
Identified intangible liabilities (included in deferred revenue):
Gross amount	206,771	244,396
Accumulated amortization	(178,282)	(208,592)
Total, net	$ 28,489	$ 35,804

Identified Intangible Assets _4

Identified Intangible Assets and Liabilities (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Below Market Leases Net Of Above Market Leases
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 5,268	$ 5,178	$ 9,249
Other Identified Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 8,342	$ 10,516	$ 7,330

Identified Intangible Assets _5

Identified Intangible Assets and Liabilities (Schedule of Estimated Annual Amortization) (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Below Market Leases Net Of Above Market Leases
Finite-Lived Intangible Assets [Line Items]
2024	$ 2,451
2025	964
2026	321
2027	(148)
2028	(47)
Other Identified Intangible Assets
Finite-Lived Intangible Assets [Line Items]
2024	6,843
2025	5,810
2026	5,615
2027	5,308
2028	$ 4,173

Debt (Narrative) (Details)

Debt (Narrative) (Details) $ in Thousands	Oct. 04, 2023 USD ($) extension_option	Jun. 29, 2023 USD ($)	Dec. 31, 2023 USD ($)	Oct. 03, 2023 USD ($)	Jan. 09, 2023 USD ($)
Debt Instrument
Collateral property, net carrying value			$ 5,900,000
1290 Avenue of the Americas
Debt Instrument
Debt instrument, amount		$ 950,000
Cap term		2 years
Up-front payment		$ 63,100
Up-front payment attributable to noncontrolling interests		$ 18,930
1290 Avenue of the Americas | SOFR
Debt Instrument
Basis spread		1%
Derivative, basis spread on variable rate		1.62%
1290 Avenue of the Americas | SOFR | Interest Rate Cap | Designated as a Hedge
Debt Instrument
Cap strike rate		3.89%
Participating Mortgages | 150 West 34th Street Loan Participation
Debt Instrument
Mortgage loan					$ 105,000
Debt instrument, amount					205,000
Participation interest					$ 105,000
Participating Mortgages | 150 West 34th Street Loan Participation | Maturing In February 2025
Debt Instrument
Debt instrument, amount	$ 75,000
Number of extension terms | extension_option	3
Extension term	1 year
Additional extension term	1 year
Participating Mortgages | 150 West 34th Street Loan Participation | Maturing In February 2025 | SOFR
Debt Instrument
Basis spread on variable rate	2.15%
Participating Mortgages | 150 West 34th Street Loan Participation | Maturing In February 2025 | Recourse
Debt Instrument
Debt instrument, amount	$ 25,000
Participating Mortgages | 150 West 34th Street Loan Participation | Maturing In February 2026 | SOFR
Debt Instrument
Basis spread	5%
Participating Mortgages | 150 West 34th Street Loan Participation | Maturing In May 2024
Debt Instrument
Debt instrument, amount				$ 100,000
Participating Mortgages | 150 West 34th Street Loan Participation | Maturing In May 2024 | SOFR
Debt Instrument
Basis spread				1.86%

Debt (Summary of Debt) (Details

Debt (Summary of Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument
Deferred financing costs, net and other	$ (53,163)	$ (63,572)
Total, net	5,688,020	5,829,018
Long-term debt	$ 2,563,432	2,560,025
Mortgages Payable
Debt Instrument
Interest rate, end of period (in percentage)	4.01%
Long-term debt, gross	$ 5,729,615	5,877,615
Deferred financing costs, net and other	(41,595)	(48,597)
Total, net	$ 5,688,020	5,829,018
Mortgages Payable | Fixed rate
Debt Instrument
Interest rate, end of period (in percentage)	3.42%
Long-term debt, gross	$ 4,518,200	3,570,000
Mortgages Payable | Fixed rate | Interest Rate Cap
Debt Instrument
Derivative, notional amount	$ 950,000
Cap strike rate	1%
Mortgages Payable | Variable rate
Debt Instrument
Interest rate, end of period (in percentage)	6.23%
Long-term debt, gross	$ 1,211,415	2,307,615
Mortgages Payable | Variable rate | Interest Rate Cap
Debt Instrument
Derivative, notional amount	$ 1,034,119
Cap strike rate	4.50%
Weighted average remaining term	10 months
Unsecured Debt:
Debt Instrument
Interest rate, end of period (in percentage)	3.02%
Long-term debt, gross	$ 1,200,000	1,200,000
Deferred financing costs, net and other	(6,127)	(8,168)
Long-term debt	$ 1,193,873	1,191,832
Unsecured term loan
Debt Instrument
Interest rate, end of period (in percentage)	4.79%
Long-term debt, gross	$ 800,000	800,000
Deferred financing costs, net and other	(5,441)	(6,807)
Long-term debt	$ 794,559	793,193
Unsecured revolving credit facilities
Debt Instrument
Interest rate, end of period (in percentage)	3.87%
Long-term debt	$ 575,000	$ 575,000

Debt (Schedule of Principal Mat

Debt (Schedule of Principal Maturities of Mortgages Payable and Unsecured Debt) (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Mortgages Payable
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
2024	$ 169,815
2025	879,800
2026	525,000
2027	1,580,000
2028	2,225,000
Thereafter	350,000
Unsecured term loan
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
2024	0
2025	450,000
2026	400,000
2027	1,375,000
2028	0
Thereafter	$ 350,000

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interests (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) shares	Dec. 22, 2023 USD ($)	Dec. 31, 2022 USD ($) shares	Dec. 31, 2020 USD ($)
Redeemable Noncontrolling Interest
Redeemable noncontrolling interest, exchange ratio	1
Redemption share value	1
Common shares of beneficial interest: outstanding shares (in shares) | shares	190,390,703		191,866,880
The Farley Building | Joint Venture
Redeemable Noncontrolling Interest
Ownership interest	95%
Capital contributions		$ 112,668		$ 92,400
Series D Cumulative Redeemable Preferred Unit
Redeemable Noncontrolling Interest
Fair value of Series G convertible preferred units and Series D-13 cumulative redeemable preferred units	$ 49,386		$ 49,383

Redeemable Noncontrolling Int_4

Redeemable Noncontrolling Interests (Details of Redeemable Noncontrolling Interest Units) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Class A Unit
Redeemable Noncontrolling Interest
Class A units held by third parties	$ 480,251	$ 345,157
Outstanding Partnership Units held by Third Parties (in shares)	17,000,030	14,416,891
Preferred or Annual Distribution Rate (in dollars per share)	$ 0.675
Aggregate redemption value	$ 480,251	$ 300,015
3.25% D-17 Cumulative Redeemable
Redeemable Noncontrolling Interest
Debt instrument, interest rate, stated percentage	3.25%
Perpetual Preferred/Redeemable Preferred:	$ 3,535	$ 3,535
Outstanding Partnership Units held by Third Parties (in shares)	141,400	141,400
Per Unit Liquidation Preference (in dollars per share)	$ 25
Preferred or Annual Distribution Rate (in dollars per share)	$ 0.8125

Redeemable Noncontrolling Int_5

Redeemable Noncontrolling Interests (Activity of Redeemable Noncontrolling Interests) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Redeemable Noncontrolling Interests Rollforward
Beginning balance	$ 436,732
Net income (loss)	3,361	$ (30,376)	$ 7,540
Other comprehensive (loss) income	(9,340)	14,250	4,048
Ending balance	638,448	436,732
Partnership Interest
Redeemable Noncontrolling Interests Rollforward
Beginning balance	348,692	590,975
Net income (loss)	3,361	(30,376)
Other comprehensive (loss) income	(9,340)	14,250
Distributions	(10,783)	(30,311)
Other, net	22,231	28,823
Ending balance	483,786	348,692	590,975
Partnership Interest | Class A Unit
Redeemable Noncontrolling Interests Rollforward
Redemption of Class A units for Vornado common shares, at redemption value	(8,489)	(3,524)
Redeemable Class A unit measurement adjustment	138,114	(221,145)
Redeemable noncontrolling interest in a consolidated subsidiary
Redeemable Noncontrolling Interests Rollforward
Beginning balance	88,040	97,708
Net income (loss)	(39,385)	(9,668)
Contributions	112,668	0
Distributions	(6,661)	0
Ending balance	$ 154,662	$ 88,040	$ 97,708

Shareholders' Equity_Partners_3

Shareholders' Equity/Partners' Capital (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Apr. 26, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Common shares of beneficial interest: outstanding shares (in shares)	190,390,703		191,866,880
Stock repurchase program, authorized amount		$ 200,000,000
Common shares outstanding ratio to class A units ratio		100%
Stock repurchased during period, value	$ 29,183,000
Common Shares
Class of Stock [Line Items]
Repurchase of common shares (in shares)	2,024,495
Stock repurchased during period, value	$ 29,143,000
Average price per share (in dollars per share)	$ 14.40
Stock repurchase program, remaining authorized repurchase amount	$ 170,857,000
Class A Unit
Class of Stock [Line Items]
Class A units outstanding, that were held by third parties (in shares)	17,000,030		14,416,891
Vornado Realty Trust
Class of Stock [Line Items]
Common shares of beneficial interest: outstanding shares (in shares)	190,390,703
Distributions to Vornado (in dollars per share)	$ 0.675
Vornado Realty L.P.
Class of Stock [Line Items]
Stock repurchased during period, value	$ 29,183,000
Vornado Realty L.P. | Class A Unit
Class of Stock [Line Items]
Common shares of beneficial interest: outstanding shares (in shares)	190,390,703
Distributions to Vornado (in dollars per share)	$ 0.675
Class A units outstanding, that were held by third parties (in shares)	17,000,030		14,416,891

Shareholders' Equity_Partners_4

Shareholders' Equity/Partners' Capital (Preferred shares of beneficial interest) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Details Of Preferred Shares Of Beneficial Interest
Dividends on preferred shares	$ 62,116	$ 62,116	$ 65,880
Preferred shares of beneficial interest: authorized shares (in shares)	110,000,000	110,000,000
Preferred stock, value, issued , balance	$ 1,182,459	$ 1,182,459
Preferred shares/units of beneficial interest: outstanding shares (in shares)	48,792,902	48,792,902
6.5% Series A | Convertible Preferred Stock
Details Of Preferred Shares Of Beneficial Interest
Preferred stock dividend rate	6.50%	6.50%
Preferred shares of beneficial interest: authorized shares (in shares)	12,902	12,902
Preferred stock, value, issued , balance	$ 920	$ 920
Preferred shares/units of beneficial interest: outstanding shares (in shares)	12,902	12,902
Preferred stock, liquidation preference per share (in dollars per share/unit)	$ 50	$ 50
Preferred stock, dividend rate, per-dollar-amount (in dollars per share)	3.25	3.25
Preferred stock, redemption price per share (in dollars per share)	1.9531	1.9531
6.5% Series A | Convertible Preferred Stock | Class A Unit
Details Of Preferred Shares Of Beneficial Interest
Preferred stock, redemption price per share (in dollars per share)	$ 1.9531	$ 1.9531
5.40% Series L | Redeemable Preferred Stock
Details Of Preferred Shares Of Beneficial Interest
Preferred stock dividend rate	5.40%	5.40%
Preferred shares of beneficial interest: authorized shares (in shares)	13,800,000	13,800,000
Preferred stock, value, issued , balance	$ 290,306	$ 290,306
Preferred shares/units of beneficial interest: outstanding shares (in shares)	12,000,000	12,000,000
Preferred stock, liquidation preference per share (in dollars per share/unit)	$ 25	$ 25
Preferred stock, dividend rate, per-dollar-amount (in dollars per share)	$ 1.35	$ 1.35
5.25% Series M | Redeemable Preferred Stock
Details Of Preferred Shares Of Beneficial Interest
Preferred stock dividend rate	5.25%	5.25%
Preferred shares of beneficial interest: authorized shares (in shares)	13,800,000	13,800,000
Preferred stock, value, issued , balance	$ 308,946	$ 308,946
Preferred shares/units of beneficial interest: outstanding shares (in shares)	12,780,000	12,780,000
Preferred stock, liquidation preference per share (in dollars per share/unit)	$ 25	$ 25
Preferred stock, dividend rate, per-dollar-amount (in dollars per share)	$ 1.3125	$ 1.3125
5.25% Series N | Redeemable Preferred Stock
Details Of Preferred Shares Of Beneficial Interest
Preferred stock dividend rate	5.25%	5.25%
Preferred shares of beneficial interest: authorized shares (in shares)	12,000,000	12,000,000
Preferred stock, value, issued , balance	$ 291,134	$ 291,134
Preferred shares/units of beneficial interest: outstanding shares (in shares)	12,000,000	12,000,000
Preferred stock, liquidation preference per share (in dollars per share/unit)	$ 25	$ 25
Preferred stock, dividend rate, per-dollar-amount (in dollars per share)	$ 1.3125	$ 1.3125
4.45% Series O | Redeemable Preferred Stock
Details Of Preferred Shares Of Beneficial Interest
Preferred stock dividend rate	4.45%	4.45%
Preferred shares of beneficial interest: authorized shares (in shares)	12,000,000	12,000,000
Preferred stock, value, issued , balance	$ 291,153	$ 291,153
Preferred shares/units of beneficial interest: outstanding shares (in shares)	12,000,000	12,000,000
Preferred stock, liquidation preference per share (in dollars per share/unit)	$ 25	$ 25
Preferred stock, dividend rate, per-dollar-amount (in dollars per share)	$ 1.1125	$ 1.1125

Stock-based Compensation (Stock

Stock-based Compensation (Stock-based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 43,201	$ 29,249	$ 38,329
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	22,179	21,086	27,698
Performance AO LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	11,426	94	219
LTPP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	7,189	5,145	0
OPP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,992	1,906	8,629
Vornado stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	162	296	456
Vornado restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	159	292	450
AO LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 94	$ 430	$ 877

Stock-based Compensation (Sched

Stock-based Compensation (Schedule of Unrecognized Compensation Expense) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 73,044
Weighted-Average Remaining Amortization Period	2 years
Performance AO LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 37,284
Weighted-Average Remaining Amortization Period	2 years 1 month 6 days
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 29,550
Weighted-Average Remaining Amortization Period	1 year 10 months 24 days
LTPP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 5,004
Weighted-Average Remaining Amortization Period	1 year 7 months 6 days
OPP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 1,206
Weighted-Average Remaining Amortization Period	1 year 3 months 18 days

Stock-based Compensation (Sto_2

Stock-based Compensation (Stock-based Compensation Expense) (Narrative) (Details) - shares	Dec. 31, 2023	May 18, 2023
Full Value Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,217,000
Maximum | Full Value Awards | 2023 Omnibus Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)		10,800,000
Maximum | Not Full Value Awards | 2023 Omnibus Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)		21,600,000

Stock-based Compensation (LTPP

Stock-based Compensation (LTPP Units & OPP Units) (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 11, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
2023 LTPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value		$ 9,491	$ 7,847
Share-based compensation expense		$ 4,670	$ 4,033
OPP Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Vornado stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Out Performance Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value				$ 9,950
Share-based compensation expense				6,140
Out of performance plan notional amount				$ 30,000
Operational | 2023 LTPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage breakdown of awards	50%
Operational | 2023 LTPP | Comparable FFO per Share
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage breakdown of awards	75%
Operational | 2023 LTPP | ESG Performance Metrics
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage breakdown of awards	25%
Relative | 2023 LTPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage breakdown of awards	50%
Percentage reduction threshold	30%
Duration of performance measurement period	3 years
Relative | 2023 LTPP | Northeast Peer Group Custom Index
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage reduction threshold	50%
Relative | 2023 LTPP | Dow Jones U.S. Real Estate Office Index
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage reduction threshold	50%
Absolute | 2023 LTPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage reduction threshold	30%
Award requisite service period	1 year
Absolute | 2023 LTPP | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	3 years
Absolute | 2023 LTPP | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent vested, year three	50%
Percent vested, year four	50%

Stock-based Compensation (Vorna

Stock-based Compensation (Vornado Stock Options, Performance AO LTIP Units, AO LTIP Units & LTIP Units) (Narrative) (Details)		12 Months Ended
	Jun. 29, 2023 day installment $ / shares shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Performance AO LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value		$ 48,710,000
2023 Omnibus Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	10 years
Consecutive trading days | day	20
2023 Omnibus Share Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price per common share (in dollars per share) | $ / shares	$ 21.0875
2023 Omnibus Share Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price per common share (in dollars per share) | $ / shares	$ 29.5225
Vornado stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Stock options expiration term		10 years
Proceeds received from exercise of employee share options and other			$ 7,000	$ 22,000
Exercises in period, intrinsic value			842	5,500
Aggregate intrinsic value		$ 0
Options exercisable		$ 0
Performance AO LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options expiration term		10 years
Aggregate intrinsic value		$ 153,748,000
Performance AO LTIP Units | 2023 Omnibus Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate issuance (in shares) | shares	14,368,750
Share price per common share (in dollars per share) | $ / shares	$ 16.87
Performance AO LTIP Units | 2023 Omnibus Share Plan | Performance condition 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price per common share (in dollars per share) | $ / shares	$ 21.0875
Award vesting rights, percentage	33%
Increase in grant date share price, percentage	25%
Performance AO LTIP Units | 2023 Omnibus Share Plan | Performance condition 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price per common share (in dollars per share) | $ / shares	$ 25.3050
Award vesting rights, percentage	67%
Increase in grant date share price, percentage	50%
Performance AO LTIP Units | 2023 Omnibus Share Plan | Performance condition 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price per common share (in dollars per share) | $ / shares	$ 29.5225
Award vesting rights, percentage	100%
Increase in grant date share price, percentage	75%
Performance AO LTIP Units | 2023 Omnibus Share Plan | Third Anniversary Of The Grant Date | Performance condition 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	20%
Performance AO LTIP Units | 2023 Omnibus Share Plan | Fourth Anniversary Of The Grant Date | Performance condition 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	80%
No Performance Units Earned | 2023 Omnibus Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price per common share (in dollars per share) | $ / shares	$ 21.0875
AO LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options expiration term		10 years
Options exercisable		$ 0
Threshold level, percent		100%
Special allocation		10%
Special distribution, percent		10%
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate issuance (in shares) | shares	2,394,801
Grant-date fair value		$ 45,468,000	15,446,000	26,194,000
Distributions, share-based compensation		1,302,000	2,197,000	2,634,000
Number Of Installments | installment	2
Share-based payment award, transfer restriction period	1 year
Vested in period, fair value		$ 37,198,000	$ 25,158,000	$ 36,541,000
LTIP Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
LTIP Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
OPP Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years

Stock-based Compensation (Sch_2

Stock-based Compensation (Schedule Of Share Based Compensation Stock Options Activity) (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Vornado stock options
Shares
Options outstanding at beginning of period (in shares) | shares	176,705
Forfeited (in shares) | shares	(1,058)
Expired (in shares) | shares	(17,546)
Options outstanding at end of period (in shares) | shares	158,101
Option exercisable at end of period (in shares) | shares	144,361
Weighted- Average Exercise Price
Options outstanding at beginning of period (in dollars per share) | $ / shares	$ 65.35
Forfeited (in dollars per share) | $ / shares	52.30
Expired (in dollars per share) | $ / shares	64.56
Options outstanding at end of period (in dollars per share) | $ / shares	65.52
Options exercisable at end of period (in dollars per share) | $ / shares	$ 66.78
Weighted- Average Remaining Contractual Term
Options outstanding	4 years 2 months 1 day
Options exercisable	3 years 11 months 26 days
Performance AO LTIP Units
Shares
Options outstanding at beginning of period (in shares) | shares	496,762
Expired (in shares) | shares	(496,762)
Granted (in shares) | shares	14,368,750
Options outstanding at end of period (in shares) | shares	14,368,750
Option exercisable at end of period (in shares) | shares	0
Weighted- Average Exercise Price
Options outstanding at beginning of period (in dollars per share) | $ / shares	$ 62.62
Expired (in dollars per share) | $ / shares	62.62
Granted (in usd per share) | $ / shares	16.87
Options outstanding at end of period (in dollars per share) | $ / shares	16.87
Options exercisable at end of period (in dollars per share) | $ / shares	$ 0
Weighted- Average Remaining Contractual Term
Options outstanding	9 years 6 months
AO LTIP Units
Shares
Options outstanding at beginning of period (in shares) | shares	565,664
Forfeited (in shares) | shares	(3,797)
Expired (in shares) | shares	(20,053)
Options outstanding at end of period (in shares) | shares	541,814
Option exercisable at end of period (in shares) | shares	499,882
Weighted- Average Exercise Price
Options outstanding at beginning of period (in dollars per share) | $ / shares	$ 59.93
Forfeited (in dollars per share) | $ / shares	52.40
Expired (in dollars per share) | $ / shares	59.62
Options outstanding at end of period (in dollars per share) | $ / shares	59.99
Options exercisable at end of period (in dollars per share) | $ / shares	$ 60.63
Weighted- Average Remaining Contractual Term
Options outstanding	5 years 2 months 26 days
Options exercisable	5 years 1 month 28 days

Stock-based Compensation (Sch_3

Stock-based Compensation (Schedule Of Share Based Payment Award Stock Options Valuation Assumptions) (Details) - Performance AO LTIP Units	12 Months Ended
	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	33%
Risk free interest rate	4%
Expected dividend yield	6%

Stock-based Compensation (Vor_2

Stock-based Compensation (Vornado Restricted Stock) (Narrative) (Details) - Vornado Restricted Stock - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Distributions, share-based compensation	$ 2	$ 18	$ 35
Vested in period, fair value	$ 291	$ 428	$ 567

Stock-based Compensation (Sch_4

Stock-based Compensation (Schedule of Restricted Stock or Restricted Operating Partnership Units) (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
LTIP Units
Units
Unvested at beginning of period (in shares) | shares	985,916
Granted (in shares) | shares	3,110,000
Vested (in shares) | shares	(825,882)
Forfeited (in shares) | shares	(59,875)
Unvested at end of period (in shares) | shares	3,210,159
Weighted-Average Grant-Date Fair Value
Unvested at beginning of period (in dollars per share) | $ / shares	$ 49.41
Granted (in dollars per share) | $ / shares	14.62
Vested (in dollars per share) | $ / shares	45.04
Forfeiture (in usd per share) | $ / shares	27.15
Unvested at end of period (in dollars per share) | $ / shares	$ 17.24
Vornado Restricted Stock
Units
Unvested at beginning of period (in shares) | shares	8,379
Vested (in shares) | shares	(5,093)
Forfeited (in shares) | shares	(239)
Unvested at end of period (in shares) | shares	3,047
Weighted-Average Grant-Date Fair Value
Unvested at beginning of period (in dollars per share) | $ / shares	$ 55.64
Vested (in dollars per share) | $ / shares	57.17
Forfeiture (in usd per share) | $ / shares	53.31
Unvested at end of period (in dollars per share) | $ / shares	$ 53.26

Income (Loss) Per Share_Incom_3

Income (Loss) Per Share/Income (Loss) Per Class A Unit (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Earnings Per Share [Abstract]
Net income (loss) allocation	1
Net Income (Loss) Attributable to Parent [Abstract]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	$ 105,494	$ (346,499)	$ 175,999
Preferred share dividends	(62,116)	(62,116)	(65,880)
Series K preferred share / unit issuance costs	0	0	(9,033)
Net income (loss) attributable to common shareholders/Class A unitholders	43,378	(408,615)	101,086
Distributions and earnings allocated to unvested participating securities	(2)	(18)	(34)
Numerator for basic income (loss) per common share / per Class A unit	$ 43,376	$ (408,633)	$ 101,052
Denominator:
Denominator for basic income (loss) per common share - weighted average shares (in shares) | shares	191,005	191,775	191,551
Share-based payment awards (in shares) | shares	851	0	571
Denominator for diluted income (loss) per common share - weighted average shares and assumed conversions (in shares) | shares	191,856	191,775	192,122
INCOME (LOSS) PER COMMON SHARE - BASIC:
Net income (loss) per common share (in dollars per share) | $ / shares	$ 0.23	$ (2.13)	$ 0.53
INCOME (LOSS) PER COMMON SHARE - DILUTED:
Net income (loss) per common share (in dollars per share) | $ / shares	$ 0.23	$ (2.13)	$ 0.53
INCOME (LOSS) PER CLASS A UNIT - DILUTED:
Weighted average common share / class A unit equivalents of excluded dilutive securities due to anti-dilutive effect (in shares) | shares	3,458	1,706	164
Vornado Realty L.P.
Net Income (Loss) Attributable to Parent [Abstract]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	$ 108,855	$ (376,875)	$ 183,539
Preferred share dividends	(62,231)	(62,231)	(66,035)
Series K preferred share / unit issuance costs	0	0	(9,033)
Net income (loss) attributable to common shareholders/Class A unitholders	46,624	(439,106)	108,471
Distributions and earnings allocated to unvested participating securities	(1,323)	(2,215)	(2,668)
Numerator for basic income (loss) per common share / per Class A unit	$ 45,301	$ (441,321)	$ 105,803
Denominator:
Denominator for basic income (loss) per Class A unit – weighted average units (in shares) | shares	205,105	205,315	204,728
Share-based payment awards (in shares) | shares	851	0	916
Denominator for diluted income (loss) per Class A unit – weighted average units and assumed conversions (in shares) | shares	205,956	205,315	205,644
INCOME (LOSS) PER CLASS A UNIT - BASIC:
Net income (loss) per Class A unit (in dollars per unit) | $ / shares	$ 0.22	$ (2.15)	$ 0.52
INCOME (LOSS) PER CLASS A UNIT - DILUTED:
Net income (loss) per Class A unit (in dollars per unit) | $ / shares	$ 0.22	$ (2.15)	$ 0.51
Weighted average common share / class A unit equivalents of excluded dilutive securities due to anti-dilutive effect (in shares) | shares	3,458	1,706	164

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Variable Interest Entity
Assets	$ 16,187,665	$ 16,493,375
Liabilities	9,843,931	9,980,263
Unconsolidated VIEs
Variable Interest Entity
Assets	109,220	68,223
Maximum loss exposure	196,394	68,223
Consolidated VIEs
Variable Interest Entity
Assets	4,901,150	4,423,995
Liabilities	$ 2,735,826	$ 2,345,726

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from maturities of U.S. Treasury bills	$ 468,598	$ 597,499	$ 0
Investments in U.S. Treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from maturities of U.S. Treasury bills	477,000
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets (included in restricted cash and other assets)	105,246	96,322
Loans receivable (included in investments in partially owned entities and in other assets)	32,984	54,397
Total assets	281,156	812,479
Mandatorily redeemable instruments (included in other liabilities)	49,386	49,383
Total liabilities	60,717	52,124
Recurring | Investments in U.S. Treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in U.S. Treasury bills		471,962
Recurring | Designated as a Hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps and caps	138,772	183,804
Interest rate swaps designated as a hedge (included in other liabilities)	7,239
Recurring | Not Designated as a Hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps and caps	4,154	5,994
Interest rate swaps designated as a hedge (included in other liabilities)	4,092	2,741
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets (included in restricted cash and other assets)	58,956	57,406
Loans receivable (included in investments in partially owned entities and in other assets)	0	0
Total assets	58,956	529,368
Mandatorily redeemable instruments (included in other liabilities)	49,386	49,383
Total liabilities	49,386	49,383
Recurring | Level 1 | Investments in U.S. Treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in U.S. Treasury bills		471,962
Recurring | Level 1 | Designated as a Hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps and caps	0	0
Interest rate swaps designated as a hedge (included in other liabilities)	0
Recurring | Level 1 | Not Designated as a Hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps and caps	0	0
Interest rate swaps designated as a hedge (included in other liabilities)	0	0
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets (included in restricted cash and other assets)	0	0
Loans receivable (included in investments in partially owned entities and in other assets)	0	0
Total assets	142,926	189,798
Mandatorily redeemable instruments (included in other liabilities)	0	0
Total liabilities	11,331	2,741
Recurring | Level 2 | Investments in U.S. Treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in U.S. Treasury bills		0
Recurring | Level 2 | Designated as a Hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps and caps	138,772	183,804
Interest rate swaps designated as a hedge (included in other liabilities)	7,239
Recurring | Level 2 | Not Designated as a Hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps and caps	4,154	5,994
Interest rate swaps designated as a hedge (included in other liabilities)	4,092	2,741
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets (included in restricted cash and other assets)	46,290	38,916
Loans receivable (included in investments in partially owned entities and in other assets)	32,984	54,397
Total assets	79,274	93,313
Mandatorily redeemable instruments (included in other liabilities)	0	0
Total liabilities	0	0
Recurring | Level 3 | Investments in U.S. Treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in U.S. Treasury bills		0
Recurring | Level 3 | Designated as a Hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps and caps	0	0
Interest rate swaps designated as a hedge (included in other liabilities)	0
Recurring | Level 3 | Not Designated as a Hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps and caps	0	0
Interest rate swaps designated as a hedge (included in other liabilities)	0	0
Recurring | Restricted Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets (included in restricted cash and other assets)	26,363	7,763
Recurring | Investments in partially owned entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable (included in investments in partially owned entities and in other assets)		50,091
Recurring | Other Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets (included in restricted cash and other assets)	$ 78,883	88,559
Loans receivable (included in investments in partially owned entities and in other assets)		$ 4,306

Fair Value Measurements (Change

Fair Value Measurements (Changes in the Fair Value of Deferred Compensation Plan Assets) (Details) - Deferred Compensation Plan Assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Beginning balance	$ 38,916	$ 45,016
Purchases	7,855	4,507
Sales	(5,080)	(9,941)
Realized and unrealized gains (losses)	982	(3,781)
Other, net	3,617	3,115
Ending balance	$ 46,290	$ 38,916

Fair Value Measurements (Unobse

Fair Value Measurements (Unobservable Quantitative Input Ratios) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Non-cash loss on our investment	$ 74,351	$ 602,310
Consolidated real estate assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Non-cash loss on our investment	45,007	19,098
Consolidated real estate assets | Non- controlling Interests in Consolidated Subsidiaries
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Non-cash loss on our investment	22,176
Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Loans receivable (included in investments in partially owned entities and in other assets)	32,984	54,397
Level 3 | Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Loans receivable (included in investments in partially owned entities and in other assets)	$ 32,984	$ 54,397
Level 3 | Discount rates | Nonrecurring | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Real estate, measurement input	0.0750	0.0750
Level 3 | Discount rates | Nonrecurring | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Real estate, measurement input	0.0800	0.0800
Level 3 | Discount rates | Nonrecurring | Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Real estate, measurement input	7.99	7.52
Level 3 | Terminal capitalization rates | Nonrecurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Real estate, measurement input	0.0550
Level 3 | Terminal capitalization rates | Nonrecurring | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Real estate, measurement input		0.0475
Level 3 | Terminal capitalization rates | Nonrecurring | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Real estate, measurement input		0.0550
Level 3 | Terminal capitalization rates | Nonrecurring | Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Real estate, measurement input	5.5	4.78
Loans Receivable | Joint Venture
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Non-cash loss on our investment	$ 21,114
Loans Receivable | Level 3 | Discount rates | Nonrecurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Loans receivable, measurement input	0.080	0.075
Loans Receivable | Level 3 | Terminal capitalization rates | Nonrecurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Loans receivable, measurement input	0.055	0.055

Fair Value Measurements (Chan_2

Fair Value Measurements (Changes in the Fair Value of Loans Receivable) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Non-cash loss on our investment	$ 74,351	$ 602,310
Joint Venture
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	7,730
Ending balance	0	0
Loans Receivable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	54,397	50,182
Credit losses	(26,155)	0
Interest accrual	5,153	4,748
Paydowns	(411)	(533)
Ending balance	32,984	$ 54,397
Loans Receivable | Joint Venture
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Non-cash loss on our investment	$ 21,114

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Derivative Instruments) (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Long term debt		$ 2,563,432	$ 2,560,025
Matures in May 2028 | 555 California Street, California | Office Building
Derivative [Line Items]
Ownership interest		70%	70%
Debt instrument, amount		$ 1,200,000	$ 1,200,000
Designated as a Hedge
Derivative [Line Items]
Fair Value Asset		138,772	183,804
Fair Value Liability		7,239
Designated as a Hedge | 555 California Street mortgage loan, In-place swap | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 840,000
All-In Swapped Rate		2.29%
Fair Value Asset		$ 15,494	49,888
Fair Value Liability		0
Designated as a Hedge | 555 California Street mortgage loan, Forward swap | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 840,000
All-In Swapped Rate		6.03%
Fair Value Asset		$ 0	0
Fair Value Liability		6,091
Designated as a Hedge | 770 Broadway mortgage loan | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 700,000
All-In Swapped Rate		4.98%
Fair Value Asset		$ 20,306	29,226
Fair Value Liability		0
Designated as a Hedge | PENN 11 mortgage loan, In-Place Swap | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 500,000
All-In Swapped Rate		2.22%
Fair Value Asset		$ 4,702	26,587
Fair Value Liability		0
Long term debt		500
Designated as a Hedge | PENN 11 mortgage loan, In-Place Swap | Interest Rate Swap | Subsequent Event
Derivative [Line Items]
All-In Swapped Rate	6.28%
Designated as a Hedge | PENN 11 mortgage loan, Forward Swap | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 250,000
All-In Swapped Rate		6.34%
Fair Value Asset		$ 0	0
Fair Value Liability		1,148
Designated as a Hedge | PENN 11 mortgage loan, Forward Swap | Interest Rate Swap | Subsequent Event
Derivative [Line Items]
Notional Amount	$ 250
Designated as a Hedge | Unsecured revolving credit facility | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 575,000
All-In Swapped Rate		3.87%
Fair Value Asset		$ 17,064	24,457
Fair Value Liability		0
Designated as a Hedge | Unsecured term loan | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 700,000
All-In Swapped Rate		4.52%
Fair Value Asset		$ 11,089	21,024
Fair Value Liability		0
Designated as a Hedge | Unsecured term loan | Notional swap expired October 2023
Derivative [Line Items]
Notional Amount			100
Designated as a Hedge | 100 West 33rd Street mortgage loan | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 480,000
All-In Swapped Rate		5.06%
Fair Value Asset		$ 3,550	6,886
Fair Value Liability		0
Designated as a Hedge | 888 Seventh Avenue mortgage loan | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 200,000
All-In Swapped Rate		4.76%
Fair Value Asset		$ 4,340	6,544
Fair Value Liability		0
Long term debt		$ 59,800
Basis spread		7.14%
Designated as a Hedge | 888 Seventh Avenue mortgage loan | Interest Rate Swap | SOFR
Derivative [Line Items]
Derivative, basis spread on variable rate		1.80%
Designated as a Hedge | 4 Union Square South mortgage loan | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 98,200
All-In Swapped Rate		3.74%
Fair Value Asset		$ 2,327	4,050
Fair Value Liability		0
Long term debt		$ 21,800
Basis spread		6.84%
Designated as a Hedge | 4 Union Square South mortgage loan | Interest Rate Swap | SOFR
Derivative [Line Items]
Derivative, basis spread on variable rate		1.50%
Designated as a Hedge | 1290 Avenue of the Americas mortgage loan | Interest Rate Cap
Derivative [Line Items]
Notional Amount		$ 950,000
Fair Value Asset		53,784	7,590
Fair Value Liability		0
Up-front payment		63,100
Designated as a Hedge | 1290 Avenue of the Americas mortgage loan | Interest Rate Cap | Non- controlling Interests in Consolidated Subsidiaries
Derivative [Line Items]
Up-front payment		$ 18,930
Designated as a Hedge | 1290 Avenue of the Americas mortgage loan | Interest Rate Cap | SOFR
Derivative [Line Items]
Cap strike rate		1%
Designated as a Hedge | One Park Avenue mortgage loan | Interest Rate Cap
Derivative [Line Items]
Notional Amount		$ 525,000
Fair Value Asset		5,297	5,472
Fair Value Liability		$ 0
Designated as a Hedge | One Park Avenue mortgage loan | Interest Rate Cap | SOFR
Derivative [Line Items]
Cap strike rate		3.89%
Designated as a Hedge | One Park Avenue mortgage loan | Forward Cap | SOFR
Derivative [Line Items]
Cap strike rate		3.89%
Designated as a Hedge | Various mortgage loans | Interest Rate Cap
Derivative [Line Items]
Fair Value Asset		$ 819	$ 2,080
Fair Value Liability		0
Designated as a Hedge | Unsecured Term Loan Expiring October 2026 | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 550,000
All-In Swapped Rate		4.35%
Derivative liability, notional amount		$ 250,000
Designated as a Hedge | Unsecured Term Loan Expiring July 2025 | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 700,000
All-In Swapped Rate		4.52%
Derivative liability, notional amount		$ 100,000
Designated as a Hedge | Unsecured Term Loan Expiring August 2027 | Interest Rate Swap
Derivative [Line Items]
Notional Amount		$ 50,000
All-In Swapped Rate		4.03%
Derivative liability, notional amount		$ 750,000

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements on a Nonrecurring Basis) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Losses	$ 74,351	$ 602,310
Loans Receivable | Joint Venture
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Losses	21,114
Consolidated real estate assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Losses	45,007	19,098
Consolidated real estate assets | Non- controlling Interests in Consolidated Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Losses	22,176
Partially Owned Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Losses	29,344	583,212
Partially Owned Properties | Non- controlling Interests in Consolidated Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Losses		6,822
Fair Value | Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate Fair Value	76,570	2,352,328
Fair Value | Nonrecurring | Consolidated real estate assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate Fair Value	55,097	80,008
Fair Value | Nonrecurring | Partially Owned Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate Fair Value	$ 21,473	$ 2,272,320

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Amounts and Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Unsecured revolving credit facilities	$ 575,000	$ 575,000
Deferred financing costs, net and other	53,163	63,572
Unsecured term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt, carrying amount	800,000	800,000
Deferred financing costs, net and other	5,441	6,807
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash equivalents, carrying amount	825,720	402,903
Mortgages payable, gross	5,729,615	5,877,615
Unsecured revolving credit facilities	575,000	575,000
Debt, carrying amount	8,304,615	8,452,615
Carrying Amount | Senior unsecured notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Unsecured debt, gross	1,200,000	1,200,000
Carrying Amount | Unsecured term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Unsecured debt, gross	800,000	800,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt, fair value	8,013,000	8,093,000
Fair Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Cash equivalents, fair value	826,000	403,000
Unsecured revolving credit facilities, fair value	575,000	575,000
Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Mortgages payable, gross	5,569,000	5,697,000
Fair Value | Senior unsecured notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Unsecured debt, gross	1,069,000	1,021,000
Fair Value | Unsecured term loan | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Unsecured debt, gross	$ 800,000	$ 800,000

Impairment Losses, Transactio_3

Impairment Losses, Transaction Related Costs and Other (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Transaction Related Costs, Impairment Losses and Other [Line Items]
Real estate impairment losses	$ 45,007	$ 19,098	$ 7,880
Transaction related costs and other	5,684	12,624	5,935
Impairment losses and transaction related costs, net	50,691	31,722	$ 13,815
Non-cash loss on our investment	74,351	602,310
Consolidated real estate assets
Transaction Related Costs, Impairment Losses and Other [Line Items]
Non-cash loss on our investment	45,007	$ 19,098
Non- controlling Interests in Consolidated Subsidiaries | Consolidated real estate assets
Transaction Related Costs, Impairment Losses and Other [Line Items]
Non-cash loss on our investment	$ 22,176

Interest and Other Investment_3

Interest and Other Investment Income, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest and Other Income [Abstract]
Interest on cash and cash equivalents and restricted cash	$ 44,786	$ 7,553	$ 284
Credit losses on loans receivable	(8,269)	0	0
Amortization of discount on investments in U.S. Treasury bills	3,829	7,075	0
Interest on loans receivable	1,351	5,006	2,517
Other, net	0	235	1,811
Interest and other investment income, net	$ 41,697	$ 19,869	$ 4,612

Interest and Debt Expense (Deta

Interest and Debt Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest and Debt Expense [Abstract]
Interest Expense	$ 368,984	$ 277,046	$ 249,169
Capitalized interest and debt expense	(43,062)	(19,085)	(38,320)
Amortization of deferred financing fees	23,301	21,804	20,247
Interest and debt expense, total	349,223	279,765	231,096
Defeasance cost in connection with refinancing of mortgage payable	$ 0	$ 0	23,729
Defeasance cost, noncash expense attributable to noncontrolling interest			$ 7,119
Controlling interest, percentage owned			70%

Leases (Schedule of Future Undi

Leases (Schedule of Future Undiscounted Cash Flows Under Non-Cancelable Operating Leases) (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
2024	$ 1,271,885
2025	1,207,370
2026	1,168,555
2027	1,061,307
2028	962,067
Thereafter	$ 6,254,989

Leases (Narrative) (Details)

Leases (Narrative) (Details) ft² in Thousands, $ in Thousands		12 Months Ended
	Aug. 28, 2023 USD ($)	Dec. 31, 2023 USD ($) ft² renewal_option	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Leases [Line Items]
Right-of-use assets		$ 680,044	$ 684,380
Lease liabilities		732,859	735,969
Derecognized ROU asset	$ 7,081	7,081	0	$ 0
Derecognized lease liability	$ 20,692	$ 20,692	$ 0	$ 0
PENN 1
Leases [Line Items]
Number of renewal options | renewal_option		3
Lease term		25 years
Farley Building
Leases [Line Items]
Ownership interest		95%
Lease term		99 years
Square footage of real estate property | ft²		847
PILOT payments		$ 527,379
Office Building | Farley Building
Leases [Line Items]
Square footage of real estate property | ft²		730
Retail | Farley Building
Leases [Line Items]
Square footage of real estate property | ft²		117

Leases (Schedule of Amounts Inc

Leases (Schedule of Amounts Included in the Measurement of Lease Liability) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted average remaining lease term (in years)	47 years 10 months 24 days	48 years 4 months 24 days	44 years 4 months 24 days
Weighted average discount rate	5.59%	5.54%	4.85%
Cash paid for operating leases	$ 22,499	$ 21,861	$ 22,382

Leases (Schedule of Components

Leases (Schedule of Components of Rent Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Fixed rent expense	$ 46,538	$ 45,211	$ 24,901
Variable rent expense	14,679	14,180	13,078
Rent expense	$ 61,217	$ 59,391	$ 37,979

Leases (Schedule of Future Leas

Leases (Schedule of Future Lease Payments Under Operating Ground Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 57,811
2025	46,227
2026	46,616
2027	47,027
2028	47,462
Thereafter	1,869,172
Total undiscounted cash flows	2,114,315
Present value discount	(1,381,456)
Lease liabilities	$ 732,859	$ 735,969

Multiemployer Benefit Plans (De

Multiemployer Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Multiemployer Pension Plans
Multiemployer Benefit Plans
Multiemployer plan, period contributions	$ 7,913	$ 7,761	$ 19,851
Multiemployer Health Plans
Multiemployer Benefit Plans
Multiemployer plan, period contributions	$ 28,764	$ 26,514	$ 23,431

Commitments and Contingencies (

Commitments and Contingencies (Details) ft² in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jul. 31, 2018 USD ($) ft²
Other Commitments
Loss contingency, damages awarded, value	$ 21,350,000
Payment guarantees	1,230,000,000
Other commitment	$ 91,372,000
Farley Office And Retail Building | Joint Venture
Other Commitments
Ownership interest	95%
Capital contributions	$ 205,068,000
Farley Office And Retail Building | Affiliated Entity
Other Commitments
Ownership interest	5%
Unsecured revolving credit facilities
Other Commitments
Outstanding letters of credit	$ 30,233,000
Non- controlling Interests in Consolidated Subsidiaries
Other Commitments
Loss contingency, damages awarded, value	6,405,000
Regus PLC
Other Commitments
Loss contingency, damages awarded, value	21,350,000
Regus PLC | Non- controlling Interests in Consolidated Subsidiaries
Other Commitments
Loss contingency, damages awarded, value	6,405,000
345 Montgomery Street | Subsidiary of Regus PLC
Other Commitments
Square footage of real estate property | ft²			78
Lessor, lease not yet commenced, term of contract			15 years
Regus PLC | 345 Montgomery Street
Other Commitments
Contractual obligation			$ 90,000,000
General Liability
Insurance
Insurance limit per occurrence	300,000,000
Insurance limit per property	300,000,000
Disease Coverage
Insurance
Insurance limit per property	275,000,000	$ 250,000,000
All Risk And Rental Value
Insurance
Insurance limit per occurrence	2,000,000,000
Earthquake California Properties
Insurance
Insurance limit per occurrence	350,000,000
Insurance maximum coverage limit in aggregate	$ 350,000,000
Vornado deductible, percentage of property value	5%
Terrorism Acts
Insurance
Insurance limit per occurrence	$ 6,000,000,000
Insurance maximum coverage limit in aggregate	6,000,000,000
Non-Certified Acts of Terrorism
Insurance
Insurance maximum coverage limit in aggregate	1,200,000,000
NBCR
Insurance
Insurance limit per occurrence	5,000,000,000
Insurance maximum coverage limit in aggregate	5,000,000,000
NBCR | PPIC
Insurance
Insurance deductible	$ 2,112,753
Insurance deductible percentage of balance of covered loss	20%

Related Party Transactions (Det

Related Party Transactions (Details) - Affiliated Entity $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) partner	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Alexander's
Related Party Transaction
Percentage of affiliated entity owned by company	32.40%
Number of other general partners | partner	2
Percentage of affiliated entity owned by related parties	26%
Interstate Properties
Related Party Transaction
Percentage of company owned by related party	7%
Related party transaction annual fee percentage	4%
Term of management agreement	1 year
Period allowed for termination of automatic renewal of management agreement	60 days
Fee and other income from related parties | $	$ 206	$ 204	$ 203

Segment Information (Narrative)

Segment Information (Narrative) (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information (Schedule o

Segment Information (Schedule of NOI by Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 1,811,163	$ 1,799,995	$ 1,589,210
Operating expenses	(905,158)	(873,911)	(797,315)
NOI - consolidated	906,005	926,084	791,895
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(48,553)	(70,029)	(69,385)
Add: NOI from partially owned entities	285,761	305,993	310,858
NOI at share	1,143,213	1,162,048	1,033,368
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	(3,377)	(10,980)	1,318
NOI at share - cash basis	1,139,836	1,151,068	1,034,686
New York
Segment Reporting Information [Line Items]
Total revenues	1,452,158	1,449,442	1,257,599
Operating expenses	(733,478)	(716,148)	(626,386)
NOI - consolidated	718,680	733,294	631,213
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(15,547)	(45,566)	(38,980)
Add: NOI from partially owned entities	274,436	293,780	300,721
NOI at share	977,569	981,508	892,954
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	(7,700)	(18,509)	(1,188)
NOI at share - cash basis	969,869	962,999	891,766
Other
Segment Reporting Information [Line Items]
Total revenues	359,005	350,553	331,611
Operating expenses	(171,680)	(157,763)	(170,929)
NOI - consolidated	187,325	192,790	160,682
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(33,006)	(24,463)	(30,405)
Add: NOI from partially owned entities	11,325	12,213	10,137
NOI at share	165,644	180,540	140,414
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	4,323	7,529	2,506
NOI at share - cash basis	$ 169,967	$ 188,069	$ 142,920

Segment Information (Reconcilia

Segment Information (Reconciliation of Net Income to NOI) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting [Abstract]
Net income (loss)	$ 32,888	$ (382,612)	$ 207,553
Depreciation and amortization expense	434,273	504,502	412,347
General and administrative expense	162,883	133,731	134,545
Impairment losses, transaction related costs and other	50,691	31,722	13,815
(Income) loss from partially owned entities	(38,689)	461,351	(130,517)
Income from real estate fund investments	(1,590)	(3,541)	(11,066)
Interest and other investment income, net	(41,697)	(19,869)	(4,612)
Interest and debt expense	349,223	279,765	231,096
Net gains on disposition of wholly owned and partially owned assets	(71,199)	(100,625)	(50,770)
Income tax expense (benefit)	29,222	21,660	(10,496)
NOI from partially owned entities	285,761	305,993	310,858
NOI attributable to noncontrolling interests in consolidated subsidiaries	(48,553)	(70,029)	(69,385)
NOI at share	1,143,213	1,162,048	1,033,368
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	(3,377)	(10,980)	1,318
NOI at share - cash basis	$ 1,139,836	$ 1,151,068	$ 1,034,686

SEC Schedule III Real Estate _2

SEC Schedule III Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Oct. 04, 2023	Jan. 09, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Real Estate And Accumulated Depreciation
Encumbrances	$ 6,304,615
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	2,410,596
Buildings and improvements	5,794,204
Costs capitalized subsequent to acquisition	5,596,404
Gross amount at which carried at close of period
Land	2,436,221
Buildings and improvements	11,364,983
Total	13,801,204
Accumulated depreciation and amortization	3,752,827			$ 3,470,991	$ 3,376,347	$ 3,169,446
Net basis difference of assets and liabilities between tax basis and GAAP basis	$ 1,500,000
Maximum
Gross amount at which carried at close of period
Real estate and accumulated depreciation life used for depreciation	40 years
Minimum
Gross amount at which carried at close of period
Real estate and accumulated depreciation life used for depreciation	7 years
150 West 34th Street Loan Participation | Participating Mortgages
Gross amount at which carried at close of period
Debt instrument, amount			$ 205,000
150 West 34th Street Loan Participation | Participating Mortgages | Maturing In February 2025
Gross amount at which carried at close of period
Debt instrument, amount		$ 75,000
Leasehold improvements, equipment and other
Real Estate And Accumulated Depreciation
Encumbrances	$ 0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	0
Costs capitalized subsequent to acquisition	130,953
Gross amount at which carried at close of period
Land	0
Buildings and improvements	130,953
Total	130,953
Accumulated depreciation and amortization	100,677
New York
Real Estate And Accumulated Depreciation
Encumbrances	5,104,615
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	2,025,913
Buildings and improvements	4,530,569
Costs capitalized subsequent to acquisition	4,665,163
Gross amount at which carried at close of period
Land	2,054,712
Buildings and improvements	9,166,933
Total	11,221,645
Accumulated depreciation and amortization	2,722,747
New York | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	5,104,615
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	2,025,913
Buildings and improvements	4,530,569
Costs capitalized subsequent to acquisition	4,644,755
Gross amount at which carried at close of period
Land	2,053,679
Buildings and improvements	9,147,558
Total	11,201,237
Accumulated depreciation and amortization	2,707,928
New York | Other Properties
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	0
Costs capitalized subsequent to acquisition	20,408
Gross amount at which carried at close of period
Land	1,033
Buildings and improvements	19,375
Total	20,408
Accumulated depreciation and amortization	14,819
New York | 1290 Avenue of the Americas | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	950,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	518,244
Buildings and improvements	926,992
Costs capitalized subsequent to acquisition	257,295
Gross amount at which carried at close of period
Land	518,244
Buildings and improvements	1,184,287
Total	1,702,531
Accumulated depreciation and amortization	495,262
New York | One Park Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	525,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	197,057
Buildings and improvements	369,016
Costs capitalized subsequent to acquisition	15,684
Gross amount at which carried at close of period
Land	197,057
Buildings and improvements	384,700
Total	581,757
Accumulated depreciation and amortization	25,714
New York | 350 Park Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	400,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	265,889
Buildings and improvements	363,381
Costs capitalized subsequent to acquisition	108,646
Gross amount at which carried at close of period
Land	306,034
Buildings and improvements	431,882
Total	737,916
Accumulated depreciation and amortization	181,322
New York | PENN 1 | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	412,169
Costs capitalized subsequent to acquisition	914,769
Gross amount at which carried at close of period
Land	0
Buildings and improvements	1,326,938
Total	1,326,938
Accumulated depreciation and amortization	435,128
New York | 100 West 33rd Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	480,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	331,371
Buildings and improvements	361,443
Costs capitalized subsequent to acquisition	78,189
Gross amount at which carried at close of period
Land	331,371
Buildings and improvements	439,632
Total	771,003
Accumulated depreciation and amortization	186,718
New York | 150 West 34th Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	75,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	119,657
Buildings and improvements	268,509
Costs capitalized subsequent to acquisition	0
Gross amount at which carried at close of period
Land	119,657
Buildings and improvements	268,509
Total	388,166
Accumulated depreciation and amortization	57,618
New York | PENN 2 | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	575,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	53,615
Buildings and improvements	164,903
Costs capitalized subsequent to acquisition	845,098
Gross amount at which carried at close of period
Land	52,689
Buildings and improvements	1,010,927
Total	1,063,616
Accumulated depreciation and amortization	109,183
New York | 90 Park Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	8,000
Buildings and improvements	175,890
Costs capitalized subsequent to acquisition	200,721
Gross amount at which carried at close of period
Land	8,000
Buildings and improvements	376,611
Total	384,611
Accumulated depreciation and amortization	208,034
New York | 770 Broadway | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	700,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	52,898
Buildings and improvements	95,686
Costs capitalized subsequent to acquisition	198,096
Gross amount at which carried at close of period
Land	52,898
Buildings and improvements	293,782
Total	346,680
Accumulated depreciation and amortization	146,826
New York | 888 Seventh Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	259,800
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	117,269
Costs capitalized subsequent to acquisition	180,130
Gross amount at which carried at close of period
Land	0
Buildings and improvements	297,399
Total	297,399
Accumulated depreciation and amortization	168,398
New York | PENN 11 | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	500,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	40,333
Buildings and improvements	85,259
Costs capitalized subsequent to acquisition	142,088
Gross amount at which carried at close of period
Land	40,333
Buildings and improvements	227,347
Total	267,680
Accumulated depreciation and amortization	112,615
New York | 909 Third Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	350,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	120,723
Costs capitalized subsequent to acquisition	128,753
Gross amount at which carried at close of period
Land	0
Buildings and improvements	249,476
Total	249,476
Accumulated depreciation and amortization	143,228
New York | 150 East 58th Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	39,303
Buildings and improvements	80,216
Costs capitalized subsequent to acquisition	65,710
Gross amount at which carried at close of period
Land	39,303
Buildings and improvements	145,926
Total	185,229
Accumulated depreciation and amortization	78,336
New York | 595 Madison Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	62,731
Buildings and improvements	62,888
Costs capitalized subsequent to acquisition	82,600
Gross amount at which carried at close of period
Land	62,731
Buildings and improvements	145,488
Total	208,219
Accumulated depreciation and amortization	64,983
New York | 330 West 34th Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	8,599
Costs capitalized subsequent to acquisition	188,073
Gross amount at which carried at close of period
Land	0
Buildings and improvements	196,672
Total	196,672
Accumulated depreciation and amortization	68,953
New York | 715 Lexington Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	26,903
Costs capitalized subsequent to acquisition	20,828
Gross amount at which carried at close of period
Land	30,086
Buildings and improvements	17,645
Total	47,731
Accumulated depreciation and amortization	2,918
New York | 4 Union Square South | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	120,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	24,079
Buildings and improvements	55,220
Costs capitalized subsequent to acquisition	14,329
Gross amount at which carried at close of period
Land	24,079
Buildings and improvements	69,549
Total	93,628
Accumulated depreciation and amortization	30,512
New York | The Farley Building | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	476,235
Costs capitalized subsequent to acquisition	956,812
Gross amount at which carried at close of period
Land	0
Buildings and improvements	1,433,047
Total	1,433,047
Accumulated depreciation and amortization	106,076
New York | 260 Eleventh Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	80,482
Costs capitalized subsequent to acquisition	8,201
Gross amount at which carried at close of period
Land	0
Buildings and improvements	88,683
Total	88,683
Accumulated depreciation and amortization	18,343
New York | 606 Broadway | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	74,119
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	45,406
Buildings and improvements	8,993
Costs capitalized subsequent to acquisition	486
Gross amount at which carried at close of period
Land	23,930
Buildings and improvements	30,955
Total	54,885
Accumulated depreciation and amortization	1,696
New York | 435 Seventh Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	95,696
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	19,893
Buildings and improvements	19,091
Costs capitalized subsequent to acquisition	2,032
Gross amount at which carried at close of period
Land	19,893
Buildings and improvements	21,123
Total	41,016
Accumulated depreciation and amortization	12,659
New York | 131-135 West 33rd Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	8,315
Buildings and improvements	21,312
Costs capitalized subsequent to acquisition	477
Gross amount at which carried at close of period
Land	8,315
Buildings and improvements	21,789
Total	30,104
Accumulated depreciation and amortization	4,478
New York | 304 - 306 Canal Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	3,511
Buildings and improvements	12,905
Costs capitalized subsequent to acquisition	(7,629)
Gross amount at which carried at close of period
Land	1,771
Buildings and improvements	7,016
Total	8,787
Accumulated depreciation and amortization	539
New York | 1131 Third Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	7,844
Buildings and improvements	7,844
Costs capitalized subsequent to acquisition	5,683
Gross amount at which carried at close of period
Land	7,844
Buildings and improvements	13,527
Total	21,371
Accumulated depreciation and amortization	3,886
New York | 431 Seventh Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	16,700
Buildings and improvements	2,751
Costs capitalized subsequent to acquisition	300
Gross amount at which carried at close of period
Land	16,700
Buildings and improvements	3,051
Total	19,751
Accumulated depreciation and amortization	1,157
New York | 138-142 West 32nd Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	9,252
Buildings and improvements	9,936
Costs capitalized subsequent to acquisition	2,132
Gross amount at which carried at close of period
Land	9,252
Buildings and improvements	12,068
Total	21,320
Accumulated depreciation and amortization	2,611
New York | 334 Canal Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	1,693
Buildings and improvements	6,507
Costs capitalized subsequent to acquisition	1,304
Gross amount at which carried at close of period
Land	753
Buildings and improvements	8,751
Total	9,504
Accumulated depreciation and amortization	614
New York | 966 Third Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	8,869
Buildings and improvements	3,631
Costs capitalized subsequent to acquisition	0
Gross amount at which carried at close of period
Land	8,869
Buildings and improvements	3,631
Total	12,500
Accumulated depreciation and amortization	938
New York | 137 West 33rd Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	6,398
Buildings and improvements	1,550
Costs capitalized subsequent to acquisition	0
Gross amount at which carried at close of period
Land	6,398
Buildings and improvements	1,550
Total	7,948
Accumulated depreciation and amortization	339
New York | 825 Seventh Avenue | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	1,483
Buildings and improvements	697
Costs capitalized subsequent to acquisition	3,969
Gross amount at which carried at close of period
Land	1,483
Buildings and improvements	4,666
Total	6,149
Accumulated depreciation and amortization	1,299
New York | 537 West 26th Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	10,370
Buildings and improvements	17,632
Costs capitalized subsequent to acquisition	20,000
Gross amount at which carried at close of period
Land	26,631
Buildings and improvements	21,371
Total	48,002
Accumulated depreciation and amortization	4,396
New York | 339 Greenwich Street | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	2,622
Buildings and improvements	12,333
Costs capitalized subsequent to acquisition	(10,018)
Gross amount at which carried at close of period
Land	866
Buildings and improvements	4,071
Total	4,937
Accumulated depreciation and amortization	368
New York | Hotel Pennsylvania | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	29,903
Buildings and improvements	121,712
Costs capitalized subsequent to acquisition	163,985
Gross amount at which carried at close of period
Land	29,903
Buildings and improvements	285,697
Total	315,600
Accumulated depreciation and amortization	0
New York | Other (Including Signage) | Manhattan
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	140,477
Buildings and improvements	31,892
Costs capitalized subsequent to acquisition	56,012
Gross amount at which carried at close of period
Land	108,589
Buildings and improvements	119,792
Total	228,381
Accumulated depreciation and amortization	32,781
New York | Paramus, New Jersey | Other Properties
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	0
Costs capitalized subsequent to acquisition	20,408
Gross amount at which carried at close of period
Land	1,033
Buildings and improvements	19,375
Total	20,408
Accumulated depreciation and amortization	14,819
Other
Real Estate And Accumulated Depreciation
Encumbrances	1,200,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	384,683
Buildings and improvements	1,263,635
Costs capitalized subsequent to acquisition	800,288
Gross amount at which carried at close of period
Land	381,509
Buildings and improvements	2,067,097
Total	2,448,606
Accumulated depreciation and amortization	929,403
Other | THE MART, Illinois
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	64,528
Buildings and improvements	319,146
Costs capitalized subsequent to acquisition	475,435
Gross amount at which carried at close of period
Land	64,535
Buildings and improvements	794,574
Total	859,109
Accumulated depreciation and amortization	406,292
Other | 527 West Kinzie, Illinois
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	5,166
Buildings and improvements	0
Costs capitalized subsequent to acquisition	317
Gross amount at which carried at close of period
Land	5,166
Buildings and improvements	317
Total	5,483
Accumulated depreciation and amortization	0
Other | Total THE MART
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	69,694
Buildings and improvements	319,146
Costs capitalized subsequent to acquisition	475,752
Gross amount at which carried at close of period
Land	69,701
Buildings and improvements	794,891
Total	864,592
Accumulated depreciation and amortization	406,292
Other | 555 California Street, California
Real Estate And Accumulated Depreciation
Encumbrances	1,200,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	223,446
Buildings and improvements	895,379
Costs capitalized subsequent to acquisition	278,150
Gross amount at which carried at close of period
Land	223,446
Buildings and improvements	1,173,529
Total	1,396,975
Accumulated depreciation and amortization	468,993
Other | Borgata Land, Atlantic City, NJ
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	83,089
Buildings and improvements	0
Costs capitalized subsequent to acquisition	1,405
Gross amount at which carried at close of period
Land	83,089
Buildings and improvements	1,405
Total	84,494
Accumulated depreciation and amortization	671
Other | 759-771 Madison Avenue (40 East 66th Street) Residential, New York
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	8,454
Buildings and improvements	13,321
Costs capitalized subsequent to acquisition	(8,193)
Gross amount at which carried at close of period
Land	5,273
Buildings and improvements	8,309
Total	13,582
Accumulated depreciation and amortization	3,541
Other | Annapolis, Maryland
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	9,652
Costs capitalized subsequent to acquisition	0
Gross amount at which carried at close of period
Land	0
Buildings and improvements	9,652
Total	9,652
Accumulated depreciation and amortization	5,215
Other | Wayne Towne Center, New Jersey
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	26,137
Costs capitalized subsequent to acquisition	49,313
Gross amount at which carried at close of period
Land	0
Buildings and improvements	75,450
Total	75,450
Accumulated depreciation and amortization	42,400
Other | Other
Real Estate And Accumulated Depreciation
Encumbrances	0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land	0
Buildings and improvements	0
Costs capitalized subsequent to acquisition	3,861
Gross amount at which carried at close of period
Land	0
Buildings and improvements	3,861
Total	3,861
Accumulated depreciation and amortization	$ 2,291

SEC Schedule III Rollforward _2

SEC Schedule III Rollforward of Real Estate Assets and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Real estate, balance at beginning of period	$ 13,314,755	$ 13,217,845	$ 12,087,943
Additions during the period	14,068,640	13,929,567	13,571,474
Less: Assets sold, written-off, reclassified to ready for sale and deconsolidated	267,436	614,812	353,629
Real estate, balance at end of period	13,801,204	13,314,755	13,217,845
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Accumulated depreciation, balance at beginning of period	3,470,991	3,376,347	3,169,446
Depreciation expense	382,638	449,864	362,311
Real estate accumulated depreciation	3,853,629	3,826,211	3,531,757
Less: Accumulated depreciation on assets sold, written-off and deconsolidated	100,802	355,220	155,410
Accumulated depreciation, balance at end of period	3,752,827	3,470,991	3,376,347
Land
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Additions during the period	40,145	0	197,057
Buildings & improvements and other
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Additions during the period	$ 713,740	$ 711,722	$ 1,286,474