Vornado Realty Trust (VNO) 10-Q 28 Oct 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2019shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
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
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
Entity Shell Company	false
Entity Central Index Key	0000899689
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	190,850,321
Common Shares of beneficial interest, $.04 par value per share | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	Common Shares of beneficial interest, $.04 par value per share
Entity Trading Symbol	VNO
Security Exchange Name	NYSE
5.70% Series K | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	5.70% Series K
Entity Trading Symbol	VNO/PK
Security Exchange Name	NYSE
5.40% Series L | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	5.40% Series L
Entity Trading Symbol	VNO/PL
Security Exchange Name	NYSE
5.25% Series M | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	5.25% Series M
Entity Trading Symbol	VNO/PM
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
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
Entity Shell Company	false
Entity Central Index Key	0001040765
Document Fiscal Year Focus	2019

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Real estate, at cost:
Land	$ 2,602,039	$ 3,306,280
Buildings and improvements	7,888,950	10,110,992
Development costs and construction in progress	1,805,846	2,266,491
Moynihan Train Hall development expenditures	791,703	445,693
Leasehold improvements and equipment	121,164	108,427
Total	13,209,702	16,237,883
Less accumulated depreciation and amortization	(2,945,107)	(3,180,175)
Real estate, net	10,264,595	13,057,708
Right-of-use assets	370,604	0
Cash and cash equivalents	1,132,491	570,916
Restricted cash	113,065	145,989
Marketable securities	35,751	152,198
Tenant and other receivables	99,499	73,322
Investments in partially owned entities	4,023,820	858,113
Real estate fund investments	306,596	318,758
220 Central Park South condominium units ready for sale	288,135	99,627
Receivable arising from the straight-lining of rents	743,646	935,131
Deferred leasing costs, net of accumulated amortization of $191,299 and $207,529	360,608	400,313
Identified intangible assets, net of accumulated amortization of $99,623 and $172,114	30,773	136,781
Other assets	446,516	431,938
Assets	18,216,099	17,180,794
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS / PARTNERSHIP UNITS AND EQUITY
Mortgages payable, net	5,640,895	8,167,798
Senior unsecured notes, net	445,668	844,002
Unsecured term loan, net	745,585	744,821
Unsecured revolving credit facilities	655,000	80,000
Lease liabilities	490,978	0
Moynihan Train Hall obligation	791,703	445,693
Accounts payable and accrued expenses	453,331	430,976
Deferred revenue	62,583	167,730
Deferred compensation plan	99,677	96,523
Other liabilities	266,090	311,806
Total liabilities	9,651,510	11,289,349
Commitments and contingencies
Redeemable noncontrolling interests / partnership units
Class A units - 13,346,927 and 12,544,477 units outstanding	849,798	778,134
Series D cumulative redeemable preferred units - 141,401 and 177,101 units outstanding	4,535	5,428
Total redeemable noncontrolling interests / partnership units	854,333	783,562
Shareholders' / Partner's Equity
Preferred shares of beneficial interest: no par value per share; authorized 110,000,000 shares; issued and outstanding 36,797,280 and 36,798,580 shares	891,256	891,294
Common shares of beneficial interest: $0.04 par value per share; authorized 250,000,000 shares; issued and outstanding 190,850,321 and 190,535,499 shares	7,613	7,600
Additional capital	7,872,597	7,725,857
Earnings less than distributions	(1,649,035)	(4,167,184)
Accumulated other comprehensive (loss) income	(47,359)	7,664
Total Vornado shareholders' / partners equity	7,075,072	4,465,231
Noncontrolling interests in consolidated subsidiaries	635,184	642,652
Total equity	7,710,256	5,107,883
Total liabilities, redeemable noncontrolling interests / partnership units and equity	18,216,099	17,180,794
Vornado Realty L.P.
Real estate, at cost:
Land	2,602,039	3,306,280
Buildings and improvements	7,888,950	10,110,992
Development costs and construction in progress	1,805,846	2,266,491
Moynihan Train Hall development expenditures	791,703	445,693
Leasehold improvements and equipment	121,164	108,427
Total	13,209,702	16,237,883
Less accumulated depreciation and amortization	(2,945,107)	(3,180,175)
Real estate, net	10,264,595	13,057,708
Right-of-use assets	370,604	0
Cash and cash equivalents	1,132,491	570,916
Restricted cash	113,065	145,989
Marketable securities	35,751	152,198
Tenant and other receivables	99,499	73,322
Investments in partially owned entities	4,023,820	858,113
Real estate fund investments	306,596	318,758
220 Central Park South condominium units ready for sale	288,135	99,627
Receivable arising from the straight-lining of rents	743,646	935,131
Deferred leasing costs, net of accumulated amortization of $191,299 and $207,529	360,608	400,313
Identified intangible assets, net of accumulated amortization of $99,623 and $172,114	30,773	136,781
Other assets	446,516	431,938
Assets	18,216,099	17,180,794
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS / PARTNERSHIP UNITS AND EQUITY
Mortgages payable, net	5,640,895	8,167,798
Senior unsecured notes, net	445,668	844,002
Unsecured term loan, net	745,585	744,821
Unsecured revolving credit facilities	655,000	80,000
Lease liabilities	490,978	0
Moynihan Train Hall obligation	791,703	445,693
Accounts payable and accrued expenses	453,331	430,976
Deferred revenue	62,583	167,730
Deferred compensation plan	99,677	96,523
Other liabilities	266,090	311,806
Total liabilities	9,651,510	11,289,349
Commitments and contingencies
Redeemable noncontrolling interests / partnership units
Class A units - 13,346,927 and 12,544,477 units outstanding	849,798	778,134
Series D cumulative redeemable preferred units - 141,401 and 177,101 units outstanding	4,535	5,428
Total redeemable noncontrolling interests / partnership units	854,333	783,562
Shareholders' / Partner's Equity
Partners' capital	8,771,466	8,624,751
Earnings less than distributions	(1,649,035)	(4,167,184)
Accumulated other comprehensive (loss) income	(47,359)	7,664
Total Vornado shareholders' / partners equity	7,075,072	4,465,231
Noncontrolling interests in consolidated subsidiaries	635,184	642,652
Total equity	7,710,256	5,107,883
Total liabilities, redeemable noncontrolling interests / partnership units and equity	$ 18,216,099	$ 17,180,794

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Deferred leasing costs, accumulated amortization	$ 191,299	$ 207,529
Identified intangible assets, accumulated amortization	$ 99,623	$ 172,114
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS / PARTNERSHIP UNITS AND EQUITY
Preferred shares of beneficial interest: par value per share (in dollars per share)	$ 0	$ 0
Preferred shares of beneficial interest: authorized shares (shares)	110,000,000	110,000,000
Preferred shares of beneficial interest: issued shares (shares)	36,797,280	36,798,580
Preferred shares of beneficial interest: outstanding shares (shares)	36,797,280	36,798,580
Common shares of beneficial interest: par value per share (in dollars per share)	$ 0.04	$ 0.04
Common shares of beneficial interest: authorized shares (shares)	250,000,000	250,000,000
Common shares of beneficial interest: issued shares (shares)	190,850,321	190,535,499
Common shares of beneficial interest: outstanding shares (shares)	190,850,321	190,535,499
Class A Unit
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS / PARTNERSHIP UNITS AND EQUITY
Outstanding Partnership Units held by Third Parties (units)	13,346,927	12,544,477
Cumulative Redeemable Preferred Unit
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS / PARTNERSHIP UNITS AND EQUITY
Outstanding Partnership Units held by Third Parties (units)	141,401	177,101
Vornado Realty L.P.
ASSETS
Deferred leasing costs, accumulated amortization	$ 191,299	$ 207,529
Identified intangible assets, accumulated amortization	$ 99,623	$ 172,114
Vornado Realty L.P. | Class A Unit
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS / PARTNERSHIP UNITS AND EQUITY
Outstanding Partnership Units held by Third Parties (units)	13,346,927	12,544,477
Vornado Realty L.P. | Cumulative Redeemable Preferred Unit
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS / PARTNERSHIP UNITS AND EQUITY
Outstanding Partnership Units held by Third Parties (units)	141,401	177,101

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
REVENUES:
Revenues	$ 465,961	$ 542,048	$ 1,463,732	$ 1,620,303
EXPENSES:
Operating	(226,359)	(235,575)	(694,006)	(709,158)
Depreciation and amortization	(96,437)	(113,169)	(326,181)	(333,701)
General and administrative	(33,237)	(31,977)	(130,129)	(108,937)
Expense from deferred compensation plan liability	(974)	(1,861)	(7,722)	(3,534)
Transaction related costs, impairment losses and other	(1,576)	(2,510)	(103,315)	(16,683)
Total expenses	(358,583)	(385,092)	(1,261,353)	(1,172,013)
Income from partially owned entities	25,946	7,206	56,139	6,059
Income (loss) from real estate fund investments	2,190	(190)	(13,780)	(37,973)
Interest and other investment income, net	3,045	2,893	15,930	9,401
Income from deferred compensation plan assets	974	1,861	7,722	3,534
Interest and debt expense	(61,448)	(88,951)	(226,940)	(264,774)
Net gain on transfer to Fifth Avenue and Times Square JV	0	0	2,571,099	0
Net gains on disposition of wholly owned and partially owned assets	309,657	141,269	641,664	164,828
Income before income taxes	387,742	221,044	3,254,213	329,365
Income tax expense	(23,885)	(1,943)	(80,542)	(4,964)
Income from continuing operations	363,857	219,101	3,173,671	324,401
(Loss) income from discontinued operations	(8)	61	(85)	381
Net income	363,849	219,162	3,173,586	324,782
Less net (income) loss attributable to noncontrolling interests / noncontrolling interests in consolidated subsidiaries
Consolidated subsidiaries	(5,774)	(3,312)	(34,045)	31,137
Operating Partnership	(22,637)	(12,671)	(197,354)	(18,992)
Net income attributable to Vornado / Vornado Realty L.P.	335,438	203,179	2,942,187	336,927
Preferred share dividends / unit distributions	(12,532)	(12,534)	(37,598)	(38,103)
Preferred share / unit issuance costs	0	0	0	(14,486)
NET INCOME attributable to common shareholders / Class A unitholders	$ 322,906	$ 190,645	$ 2,904,589	$ 284,338
INCOME PER COMMON SHARE – BASIC:
Net income per common share (in dollars per share)	$ 1.69	$ 1	$ 15.22	$ 1.50
Weighted average shares outstanding, basic (in shares)	190,814	190,245	190,762	190,176
INCOME PER COMMON SHARE – DILUTED:
Net income per common share (in dollars per share)	$ 1.69	$ 1	$ 15.20	$ 1.49
Weighted average shares outstanding, diluted (in shares)	191,024	191,327	191,027	191,292
Vornado Realty L.P.
REVENUES:
Revenues	$ 465,961	$ 542,048	$ 1,463,732	$ 1,620,303
EXPENSES:
Operating	(226,359)	(235,575)	(694,006)	(709,158)
Depreciation and amortization	(96,437)	(113,169)	(326,181)	(333,701)
General and administrative	(33,237)	(31,977)	(130,129)	(108,937)
Expense from deferred compensation plan liability	(974)	(1,861)	(7,722)	(3,534)
Transaction related costs, impairment losses and other	(1,576)	(2,510)	(103,315)	(16,683)
Total expenses	(358,583)	(385,092)	(1,261,353)	(1,172,013)
Income from partially owned entities	25,946	7,206	56,139	6,059
Income (loss) from real estate fund investments	2,190	(190)	(13,780)	(37,973)
Interest and other investment income, net	3,045	2,893	15,930	9,401
Income from deferred compensation plan assets	974	1,861	7,722	3,534
Interest and debt expense	(61,448)	(88,951)	(226,940)	(264,774)
Net gain on transfer to Fifth Avenue and Times Square JV	0	0	2,571,099	0
Net gains on disposition of wholly owned and partially owned assets	309,657	141,269	641,664	164,828
Income before income taxes	387,742	221,044	3,254,213	329,365
Income tax expense	(23,885)	(1,943)	(80,542)	(4,964)
Income from continuing operations	363,857	219,101	3,173,671	324,401
(Loss) income from discontinued operations	(8)	61	(85)	381
Net income	363,849	219,162	3,173,586	324,782
Less net (income) loss attributable to noncontrolling interests / noncontrolling interests in consolidated subsidiaries
Consolidated subsidiaries	(5,774)	(3,312)	(34,045)	31,137
Operating Partnership	(22,637)	(12,671)	(197,354)	(18,992)
Net income attributable to Vornado / Vornado Realty L.P.	358,075	215,850	3,139,541	355,919
Preferred share dividends / unit distributions	(12,574)	(12,582)	(37,722)	(38,248)
Preferred share / unit issuance costs	0	0	0	(14,486)
NET INCOME attributable to common shareholders / Class A unitholders	$ 345,501	$ 203,268	$ 3,101,819	$ 303,185
INCOME PER CLASS A UNIT – BASIC:
Net income per Class A unit (in dollars per unit)	$ 1.69	$ 1	$ 15.21	$ 1.49
Weighted average units outstanding, basic (in shares)	203,009	202,103	202,903	202,033
INCOME PER CLASS A UNIT – DILUTED:
Net income per Class A unit (in dollars per unit)	$ 1.69	$ 0.99	$ 15.18	$ 1.48
Weighted average units outstanding, diluted (in shares)	203,550	203,594	203,416	203,400
Rental revenues
REVENUES:
Revenues	$ 427,638	$ 503,947	$ 1,348,814	$ 1,507,274
Rental revenues | Vornado Realty L.P.
REVENUES:
Revenues	427,638	503,947	1,348,814	1,507,274
Fee and other income
REVENUES:
Revenues	38,323	38,101	114,918	113,029
Fee and other income | Vornado Realty L.P.
REVENUES:
Revenues	$ 38,323	$ 38,101	$ 114,918	$ 113,029

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net income	$ 363,849	$ 219,162	$ 3,173,586	$ 324,782
Other comprehensive income (loss):
Other comprehensive income (loss) of nonconsolidated subsidiaries	11	253	(949)	989
(Reduction) increase in value of interest rate swaps and other	(9,954)	623	(55,495)	13,789
Amount reclassified from accumulated other comprehensive loss relating to a nonconsolidated subsidiary	0	0	(2,311)	0
Comprehensive income	353,906	220,038	3,114,831	339,560
Less comprehensive (income) loss attributable to noncontrolling interests in consolidated subsidiaries	(27,761)	(16,037)	(227,667)	11,232
Comprehensive income attributable to Vornado / Vornado Realty L.P.	326,145	204,001	2,887,164	350,792
Vornado Realty L.P.
Net income	363,849	219,162	3,173,586	324,782
Other comprehensive income (loss):
Other comprehensive income (loss) of nonconsolidated subsidiaries	11	253	(949)	989
(Reduction) increase in value of interest rate swaps and other	(9,954)	623	(55,495)	13,789
Amount reclassified from accumulated other comprehensive loss relating to a nonconsolidated subsidiary	0	0	(2,311)	0
Comprehensive income	353,906	220,038	3,114,831	339,560
Less comprehensive (income) loss attributable to noncontrolling interests in consolidated subsidiaries	(5,774)	(3,312)	(34,045)	31,137
Comprehensive income attributable to Vornado / Vornado Realty L.P.	$ 348,132	$ 216,726	$ 3,080,786	$ 370,697

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Real estate fund investments	Other	Preferred Shares	Common Shares	Additional Capital	Earnings Less Than Distributions	Accumulated Other Comprehensive Loss	Non- controlling Interests in Consolidated Subsidiaries	Non- controlling Interests in Consolidated SubsidiariesReal estate fund investments	Non- controlling Interests in Consolidated SubsidiariesOther	Vornado Realty L.P.	Vornado Realty L.P.Real estate fund investments	Vornado Realty L.P.Other	Vornado Realty L.P.Preferred Shares	Vornado Realty L.P.Class A Units Owned by Vornado	Vornado Realty L.P.Earnings Less Than Distributions	Vornado Realty L.P.Accumulated Other Comprehensive Loss	Vornado Realty L.P.Non- controlling Interests in Consolidated Subsidiaries	Vornado Realty L.P.Non- controlling Interests in Consolidated SubsidiariesReal estate fund investments	Vornado Realty L.P.Non- controlling Interests in Consolidated SubsidiariesOther
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting change	$ 14,519						$ 122,893	$ (108,374)				$ 14,519					$ 122,893	$ (108,374)
Beginning balance, shares at Dec. 31, 2017				36,800	189,984										36,800	189,984
Beginning balance, value at Dec. 31, 2017	5,007,701			$ 891,988	$ 7,577	$ 7,492,658	(4,183,253)	128,682	$ 670,049			5,007,701			$ 891,988	$ 7,500,235	(4,183,253)	128,682	$ 670,049
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	336,927						336,927					355,919					355,919
Net income attributable to redeemable partnership units	(18,992)											(18,992)					(18,992)
Net income (loss) attributable to noncontrolling interests in consolidated subsidiaries	(31,137)	$ (34,338)							(31,137)			(31,137)							(31,137)
Dividends on common shares	(359,456)						(359,456)
Distributions to Vornado												(359,456)					(359,456)
Dividends on preferred shares / Distributions to preferred unitholders (see Note 12 for dividends per share amounts)	(38,103)						(38,103)					(38,103)					(38,103)
Preferred shares / units issuance costs	(15,149)			$ (663)			(14,486)					(15,149)			$ (663)		(14,486)
Common shares issued: / Class A Units issued to Vornado
Upon redemption of Class A units, at redemption value, shares					201											201
Upon redemption of Class A units, at redemption value, value	14,089				$ 8	14,081						14,089				$ 14,089
Under Vornado's employees' share option plan, shares					77											77
Under Vornado's employees' share option plan, value	4,226				$ 3	4,223						4,226				$ 4,226
Under Vornado's dividend reinvestment plan, shares					15											15
Under Vornado's dividend reinvestment plan, value	1,036				$ 1	1,035						1,036				$ 1,036
Contributions:
Contributions		46,942	$ 14,577							$ 46,942	$ 14,577		$ 46,942	$ 14,577						$ 46,942	$ 14,577
Distributions:
Distributions	(23,867)	(12,665)	(28,173)							(12,665)	(28,173)		(12,665)	(28,173)						(12,665)	(28,173)
Conversion of Series A preferred shares to common shares / Conversion of Series A preferred units to Class A units, shares				(1)	2										(1)	2
Conversion of Series A preferred shares to common shares / Conversion of Series A preferred units to Class A units, value	0			$ (31)		31						0			$ (31)	$ 31
Deferred compensation shares and options, shares					7											7
Deferred compensation shares and options	750					871	(121)					750				$ 871	(121)
Pro rata share of other comprehensive income of nonconsolidated subsidiaries	989							989				989						989
Increase/reduction in value of interest rate swaps	13,789							13,789				13,789						13,789
Unearned Out-Performance Plan awards acceleration	9,046					9,046						9,046				9,046
Adjustments to carry redeemable Class A units at redemption value	57,970					57,970						57,970				57,970
Redeemable noncontrolling interests' share of above adjustments	(913)							(913)				(913)						(913)
Other, value	544					548	(3)		(1)			544				$ 548	(3)		(1)
Ending balance, shares at Sep. 30, 2018				36,799	190,286										36,799	190,286
Ending balance, value at Sep. 30, 2018	5,037,509			$ 891,294	$ 7,589	7,580,463	(4,135,602)	34,173	659,592			5,037,509			$ 891,294	$ 7,588,052	(4,135,602)	34,173	659,592
Beginning balance, shares at Jun. 30, 2018				36,800	190,238										36,800	190,238
Beginning balance, value at Jun. 30, 2018	4,943,587			$ 891,325	$ 7,587	7,555,993	(4,206,381)	33,351	661,712			4,943,587			$ 891,325	$ 7,563,580	(4,206,381)	33,351	661,712
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	203,179						203,179					215,850					215,850
Net income attributable to redeemable partnership units	(12,671)											(12,671)					(12,671)
Net income (loss) attributable to noncontrolling interests in consolidated subsidiaries	3,312	558							3,312			3,312							3,312
Dividends on common shares	(119,862)						(119,862)
Distributions to Vornado												(119,862)					(119,862)
Dividends on preferred shares / Distributions to preferred unitholders (see Note 12 for dividends per share amounts)	(12,534)						(12,534)					(12,534)					(12,534)
Common shares issued: / Class A Units issued to Vornado
Upon redemption of Class A units, at redemption value, shares					25											25
Upon redemption of Class A units, at redemption value, value	1,843				$ 1	1,842						1,843				$ 1,843
Under Vornado's employees' share option plan, shares					16											16
Under Vornado's employees' share option plan, value	440				$ 0	440						440				$ 440
Under Vornado's dividend reinvestment plan, shares					5											5
Under Vornado's dividend reinvestment plan, value	351				$ 1	350						351				$ 351
Contributions:
Contributions		1,595	366							1,595	366		1,595	366						1,595	366
Distributions:
Distributions	(7,976)	(2,419)	(4,972)							(2,419)	(4,972)		(2,419)	(4,972)						(2,419)	(4,972)
Conversion of Series A preferred shares to common shares / Conversion of Series A preferred units to Class A units, shares				(1)	2										(1)	2
Conversion of Series A preferred shares to common shares / Conversion of Series A preferred units to Class A units, value	0			$ (31)		31						0			$ (31)	$ 31
Deferred compensation shares and options	286					286						286				286
Pro rata share of other comprehensive income of nonconsolidated subsidiaries	253							253				253						253
Increase/reduction in value of interest rate swaps	623							623				623						623
Adjustments to carry redeemable Class A units at redemption value	21,520					21,520						21,520				21,520
Redeemable noncontrolling interests' share of above adjustments	(54)							(54)				(54)						(54)
Other, value	(5)					1	(4)		(2)			(5)				$ 1	(4)		(2)
Ending balance, shares at Sep. 30, 2018				36,799	190,286										36,799	190,286
Ending balance, value at Sep. 30, 2018	5,037,509			$ 891,294	$ 7,589	7,580,463	(4,135,602)	34,173	659,592			5,037,509			$ 891,294	$ 7,588,052	(4,135,602)	34,173	659,592
Beginning balance, shares at Dec. 31, 2018				36,800	190,535										36,800	190,535
Beginning balance, value at Dec. 31, 2018	5,107,883			$ 891,294	$ 7,600	7,725,857	(4,167,184)	7,664	642,652			5,107,883			$ 891,294	$ 7,733,457	(4,167,184)	7,664	642,652
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	2,942,187						2,942,187					3,139,541					3,139,541
Net income attributable to redeemable partnership units	(197,354)											(197,354)					(197,354)
Net income (loss) attributable to noncontrolling interests in consolidated subsidiaries	34,045	8,427							34,045			34,045							34,045
Dividends on common shares	(377,750)						(377,750)
Distributions to Vornado												(377,750)					(377,750)
Dividends on preferred shares / Distributions to preferred unitholders (see Note 12 for dividends per share amounts)	(37,598)						(37,598)					(37,598)					(37,598)
Common shares issued: / Class A Units issued to Vornado
Upon redemption of Class A units, at redemption value, shares					123											123
Upon redemption of Class A units, at redemption value, value	8,128				$ 5	8,123						8,128				$ 8,128
Under Vornado's employees' share option plan, shares					165											165
Under Vornado's employees' share option plan, value	(7,347)				$ 7	1,338	(8,692)					(7,347)				$ 1,345	(8,692)
Under Vornado's dividend reinvestment plan, shares					16											16
Under Vornado's dividend reinvestment plan, value	1,058				$ 1	1,057						1,058				$ 1,058
Contributions:
Contributions		3,384	5,839							3,384	5,839		3,384	5,839						3,384	5,839
Distributions:
Distributions	(25,788)	(6)	(39,290)							(6)	(39,290)		(6)	(39,290)						(6)	(39,290)
Preferred unit issuance, shares															(2)	3
Preferred unit issuance, value												0			$ (38)	$ 38
Conversion of Series A preferred shares to common shares / Conversion of Series A preferred units to Class A units, shares				(2)	3
Conversion of Series A preferred shares to common shares / Conversion of Series A preferred units to Class A units, value	0			$ (38)		38
Deferred compensation shares and options, shares					8											8
Deferred compensation shares and options	829					829						829				$ 829
Amount reclassified related to a nonconsolidated subsidiary	(2,311)							(2,311)				(2,311)						(2,311)
Pro rata share of other comprehensive income of nonconsolidated subsidiaries	(949)							(949)				(949)						(949)
Increase/reduction in value of interest rate swaps	(55,497)							(55,497)				(55,497)						(55,497)
Unearned Out-Performance Plan awards acceleration	11,720					11,720						11,720				11,720
Adjustments to carry redeemable Class A units at redemption value	123,635					123,635						123,635				123,635
Redeemable noncontrolling interests' share of above adjustments	3,732							3,732				3,732						3,732
Deconsolidation of partially owned entity	(11,441)								(11,441)			(11,441)							(11,441)
Other, shares				(1)											(1)
Other, value	5						2	2	1			5			$ 0	$ 0	2	2	1
Ending balance, shares at Sep. 30, 2019				36,797	190,850										36,797	190,850
Ending balance, value at Sep. 30, 2019	7,710,256			$ 891,256	$ 7,613	7,872,597	(1,649,035)	(47,359)	635,184			7,710,256			$ 891,256	$ 7,880,210	(1,649,035)	(47,359)	635,184
Beginning balance, shares at Jun. 30, 2019				36,797	190,813										36,797	190,813
Beginning balance, value at Jun. 30, 2019	7,496,144			$ 891,256	$ 7,611	7,845,748	(1,845,995)	(38,066)	635,590			7,496,144			$ 891,256	$ 7,853,359	(1,845,995)	(38,066)	635,590
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to Vornado / Vornado Realty L.P.	335,438						335,438					358,075					358,075
Net income attributable to redeemable partnership units	(22,637)											(22,637)					(22,637)
Net income (loss) attributable to noncontrolling interests in consolidated subsidiaries	5,774	735							5,774			5,774							5,774
Dividends on common shares	(125,947)						(125,947)
Distributions to Vornado												(125,947)					(125,947)
Dividends on preferred shares / Distributions to preferred unitholders (see Note 12 for dividends per share amounts)	(12,532)						(12,532)					(12,532)					(12,532)
Common shares issued: / Class A Units issued to Vornado
Upon redemption of Class A units, at redemption value, shares					31											31
Upon redemption of Class A units, at redemption value, value	1,999				$ 1	1,998						1,999				$ 1,999
Under Vornado's dividend reinvestment plan, shares					6											6
Under Vornado's dividend reinvestment plan, value	357				$ 1	356						357				$ 357
Contributions:
Contributions			908								908			908							908
Distributions:
Distributions	(8,852)	$ (6)	$ (7,086)							$ (6)	$ (7,086)		$ (6)	$ (7,086)						$ (6)	$ (7,086)
Conversion of Series A preferred shares to common shares / Conversion of Series A preferred units to Class A units, shares															0	0
Conversion of Series A preferred shares to common shares / Conversion of Series A preferred units to Class A units, value												0			$ 0	$ 0
Deferred compensation shares and options, shares																0
Deferred compensation shares and options	266					266						266				$ 266
Pro rata share of other comprehensive income of nonconsolidated subsidiaries	11							11				11						11
Increase/reduction in value of interest rate swaps	(9,953)							(9,953)				(9,953)						(9,953)
Adjustments to carry redeemable Class A units at redemption value	24,228					24,228						24,228				$ 24,228
Redeemable noncontrolling interests' share of above adjustments	650							650				650						650
Deconsolidation of partially owned entity												0							0
Other, shares																0
Other, value	5					1	1	(1)	4			5				$ 1	1	(1)	4
Ending balance, shares at Sep. 30, 2019				36,797	190,850										36,797	190,850
Ending balance, value at Sep. 30, 2019	$ 7,710,256			$ 891,256	$ 7,613	$ 7,872,597	$ (1,649,035)	$ (47,359)	$ 635,184			$ 7,710,256			$ 891,256	$ 7,880,210	$ (1,649,035)	$ (47,359)	$ 635,184

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Unaudited) - Parenthetical (Unaudited) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Common shares/units, dividends (in dollars per share)	$ 0.66	$ 0.63	$ 1.98	$ 1.89
Vornado Realty L.P.
Common shares/units, dividends (in dollars per share)	$ 0.66	$ 0.63	$ 1.98	$ 1.89

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows from Operating Activities:
Net income	$ 3,173,586	$ 324,782
Adjustments to reconcile net income to net cash provided by operating activities:
Net gain on transfer to Fifth Avenue and Times Square JV	(2,571,099)	0
Net gains on disposition of wholly owned and partially owned assets	(641,664)	(164,828)
Depreciation and amortization (including amortization of deferred financing costs)	341,951	353,761
Non-cash impairment loss on 608 Fifth Avenue right-of-use asset	75,220	0
Distributions of income from partially owned entities	66,252	61,782
Equity in net income of partially owned entities	(56,139)	(6,059)
Stock-based compensation expense	48,045	26,190
Real estate impairment losses	26,140	0
Prepayment penalty on redemption of senior unsecured notes due 2022	22,058	0
Net realized and unrealized loss on real estate fund investments	16,162	33,709
Amortization of below-market leases, net	(15,561)	(31,480)
Straight-lining of rents	8,446	(10,279)
Decrease in fair value of marketable securities	3,095	24,801
Return of capital from real estate fund investments	0	20,291
Other non-cash adjustments	19,894	2,242
Changes in operating assets and liabilities:
Real estate fund investments	(4,000)	(68,950)
Tenant and other receivables, net	(28,110)	(11,662)
Prepaid assets	(74,502)	74,322
Other assets	(10,195)	(122,925)
Accounts payable and accrued expenses	1,496	(3,810)
Other liabilities	(3,104)	(13,849)
Net cash provided by operating activities	397,971	488,038
Cash Flows from Investing Activities:
Proceeds from transfer of interest in Fifth Avenue and Times Square JV (net of $35,562 of transaction costs and $10,899 of deconsolidated cash and restricted cash)	1,248,743	0
Proceeds from sale of condominium units at 220 Central Park South	1,039,493	0
Proceeds from redemption of 640 Fifth Avenue preferred equity	500,000	0
Development costs and construction in progress	(448,281)	(274,147)
Moynihan Train Hall expenditures	(352,211)	0
Proceeds from sale of real estate and related investments	255,534	219,731
Additions to real estate	(189,579)	(163,546)
Proceeds from sales of marketable securities	168,314	0
Distributions of capital from partially owned entities	24,880	98,609
Investments in partially owned entities	(16,480)	(32,728)
Acquisitions of real estate and other	(3,260)	(500,225)
Proceeds from repayments of loans receivable	1,395	0
Net cash provided by (used in) investing activities	2,228,548	(652,306)
Cash Flows from Financing Activities:
Repayments of borrowings	(2,635,028)	(264,482)
Proceeds from borrowings	1,107,852	312,763
Purchase of marketable securities in connection with defeasance of mortgage payable	(407,126)	0
Dividends paid on common shares / Distributions to Vornado	(377,750)	(359,456)
Moynihan Train Hall reimbursement from Empire State Development	352,211	0
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries	(65,084)	(63,110)
Dividends paid on preferred shares / Distributions to preferred unitholders	(37,598)	(42,582)
Prepayment penalty on redemption of senior unsecured notes due 2022	(22,058)	0
Debt issuance costs	(15,328)	(7,451)
Contributions from noncontrolling interests	9,223	59,924
Repurchase of shares (Class A units) related to stock compensation arrangements and related tax withholdings	(8,692)	(784)
Proceeds received from exercise of employee share options (Vornado stock options) and other	2,403	5,262
Redemption of preferred shares / units	(893)	(470,000)
Debt prepayment and extinguishment costs	0	(818)
Net cash used in financing activities	(2,097,868)	(830,734)
Net increase (decrease) in cash and cash equivalents and restricted cash	528,651	(995,002)
Cash and cash equivalents and restricted cash at beginning of period	716,905	1,914,812
Cash and cash equivalents and restricted cash at end of period	1,245,556	919,810
Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period	570,916	1,817,655
Restricted cash at beginning of period	145,989	97,157
Cash and cash equivalents and restricted cash at beginning of period	716,905	1,914,812
Cash and cash equivalents at end of period	1,132,491	772,524
Restricted cash at end of period	113,065	147,286
Cash and cash equivalents and restricted cash at end of period	1,245,556	919,810
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest, excluding capitalized interest of $55,186 and $45,292	227,310	245,628
Cash payments for income taxes	47,345	61,047
Investments received in exchange for transfer to Fifth Avenue and Times Square JV:
Investments received in exchange for transfer to joint venture, preferred equity	2,327,750	0
Investments received in exchange for transfer to joint venture, common equity	1,449,495	0
Reclassification of condominium units from development costs and construction in progress to 220 Central Park South condominium units ready for sale	825,520	307,552
Lease liabilities arising from the recognition of right-of-use assets	526,866	0
Marketable securities transferred in connection with the defeasance of mortgage payable	(407,126)	0
Defeased mortgage payable	390,000	0
Adjustments to carry redeemable Class A units at redemption value	123,635	57,970
Accrued capital expenditures included in accounts payable and accrued expenses	117,205	74,185
Write Off Of Fully Amortized And Depreciated Assets	(113,261)	(61,120)
Amounts related to our investment in Pennsylvania Real Estate Investment Trust reclassified from investments in partially owned entities and accumulated other comprehensive (loss) income to marketable securities upon conversion of operating partnership units to common shares	54,962	0
Vornado Realty L.P.
Cash Flows from Operating Activities:
Net income	3,173,586	324,782
Adjustments to reconcile net income to net cash provided by operating activities:
Net gain on transfer to Fifth Avenue and Times Square JV	(2,571,099)	0
Net gains on disposition of wholly owned and partially owned assets	(641,664)	(164,828)
Depreciation and amortization (including amortization of deferred financing costs)	341,951	353,761
Non-cash impairment loss on 608 Fifth Avenue right-of-use asset	75,220	0
Distributions of income from partially owned entities	66,252	61,782
Equity in net income of partially owned entities	(56,139)	(6,059)
Stock-based compensation expense	48,045	26,190
Real estate impairment losses	26,140	0
Prepayment penalty on redemption of senior unsecured notes due 2022	22,058	0
Net realized and unrealized loss on real estate fund investments	16,162	33,709
Amortization of below-market leases, net	(15,561)	(31,480)
Straight-lining of rents	8,446	(10,279)
Decrease in fair value of marketable securities	3,095	24,801
Return of capital from real estate fund investments	0	20,291
Other non-cash adjustments	19,894	2,242
Changes in operating assets and liabilities:
Real estate fund investments	(4,000)	(68,950)
Tenant and other receivables, net	(28,110)	(11,662)
Prepaid assets	(74,502)	74,322
Other assets	(10,195)	(122,925)
Accounts payable and accrued expenses	1,496	(3,810)
Other liabilities	(3,104)	(13,849)
Net cash provided by operating activities	397,971	488,038
Cash Flows from Investing Activities:
Proceeds from transfer of interest in Fifth Avenue and Times Square JV (net of $35,562 of transaction costs and $10,899 of deconsolidated cash and restricted cash)	1,248,743	0
Proceeds from sale of condominium units at 220 Central Park South	1,039,493	0
Proceeds from redemption of 640 Fifth Avenue preferred equity	500,000	0
Development costs and construction in progress	(448,281)	(274,147)
Moynihan Train Hall expenditures	(352,211)	0
Proceeds from sale of real estate and related investments	255,534	219,731
Additions to real estate	(189,579)	(163,546)
Proceeds from sales of marketable securities	168,314	0
Distributions of capital from partially owned entities	24,880	98,609
Investments in partially owned entities	(16,480)	(32,728)
Acquisitions of real estate and other	(3,260)	(500,225)
Proceeds from repayments of loans receivable	1,395	0
Net cash provided by (used in) investing activities	2,228,548	(652,306)
Cash Flows from Financing Activities:
Repayments of borrowings	(2,635,028)	(264,482)
Proceeds from borrowings	1,107,852	312,763
Purchase of marketable securities in connection with defeasance of mortgage payable	(407,126)	0
Dividends paid on common shares / Distributions to Vornado	(377,750)	(359,456)
Moynihan Train Hall reimbursement from Empire State Development	352,211	0
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries	(65,084)	(63,110)
Dividends paid on preferred shares / Distributions to preferred unitholders	(37,598)	(42,582)
Prepayment penalty on redemption of senior unsecured notes due 2022	(22,058)	0
Debt issuance costs	(15,328)	(7,451)
Contributions from noncontrolling interests	9,223	59,924
Repurchase of shares (Class A units) related to stock compensation arrangements and related tax withholdings	(8,692)	(784)
Proceeds received from exercise of employee share options (Vornado stock options) and other	2,403	5,262
Redemption of preferred shares / units	(893)	(470,000)
Debt prepayment and extinguishment costs	0	(818)
Net cash used in financing activities	(2,097,868)	(830,734)
Net increase (decrease) in cash and cash equivalents and restricted cash	528,651	(995,002)
Cash and cash equivalents and restricted cash at beginning of period	716,905	1,914,812
Cash and cash equivalents and restricted cash at end of period	1,245,556	919,810
Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period	570,916	1,817,655
Restricted cash at beginning of period	145,989	97,157
Cash and cash equivalents and restricted cash at beginning of period	716,905	1,914,812
Cash and cash equivalents at end of period	1,132,491	772,524
Restricted cash at end of period	113,065	147,286
Cash and cash equivalents and restricted cash at end of period	1,245,556	919,810
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest, excluding capitalized interest of $55,186 and $45,292	227,310	245,628
Cash payments for income taxes	47,345	61,047
Investments received in exchange for transfer to Fifth Avenue and Times Square JV:
Investments received in exchange for transfer to joint venture, preferred equity	2,327,750	0
Investments received in exchange for transfer to joint venture, common equity	1,449,495	0
Reclassification of condominium units from development costs and construction in progress to 220 Central Park South condominium units ready for sale	825,520	307,552
Lease liabilities arising from the recognition of right-of-use assets	526,866	0
Marketable securities transferred in connection with the defeasance of mortgage payable	(407,126)	0
Defeased mortgage payable	390,000	0
Adjustments to carry redeemable Class A units at redemption value	123,635	57,970
Accrued capital expenditures included in accounts payable and accrued expenses	117,205	74,185
Write Off Of Fully Amortized And Depreciated Assets	(113,261)	(61,120)
Amounts related to our investment in Pennsylvania Real Estate Investment Trust reclassified from investments in partially owned entities and accumulated other comprehensive (loss) income to marketable securities upon conversion of operating partnership units to common shares	$ 54,962	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Capitalized interest	$ 55,186	$ 45,292
Transaction related costs	1,955	3,580
Vornado Realty L.P.
Capitalized interest	55,186	$ 45,292
Fifth Avenue and Times Square JV
Deconsolidated restricted cash	10,899
Transaction related costs	35,562
Fifth Avenue and Times Square JV | Vornado Realty L.P.
Deconsolidated restricted cash	10,899
Transaction related costs	$ 35,562

Organization

Organization	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization 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., a Delaware limited partnership (the “Operating Partnership”). Vornado is the sole general partner of, and owned approximately 93.1% of the common limited partnership interest in the Operating Partnership as of September 30, 2019 . All references to the “Company,” “we,” “us” and “our” mean, collectively, Vornado, the Operating Partnership and those entities/subsidiaries consolidated by Vornado.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Basis of Presentation [Abstract]
Basis Of Presentation	Basis of Presentation The accompanying consolidated financial statements are unaudited and include the accounts of Vornado and the Operating Partnership and their consolidated subsidiaries. All inter-company amounts have been eliminated and all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. These condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 , as filed with the SEC. We have made estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The results of operations for the three and nine months ended September 30, 2019 are not necessarily indicative of the operating results for the full year. Certain prior year balances have been reclassified in order to conform to the current period presentation. For the three and nine months ended September 30, 2018, "property rentals" of $437,560,000 and $1,322,265,000 , respectively, and "tenant expense reimbursements" of $66,387,000 and $185,009,000 , respectively, were grouped into "rental revenues" on our consolidated statements of income in accordance with Accounting Standards Codification ("ASC") Topic 205, Presentation of Financial Statements.

Recently Issued Accounting Lite

Recently Issued Accounting Literature	9 Months Ended
	Sep. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Literature	Recently Issued Accounting Literature In February 2016, the Financial Accounting Standards Board ("FASB") issued an update (“ASU 2016-02”) establishing ASC Topic 842, Leases ("ASC 842"), as amended by subsequent ASUs on the topic, which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. ASU 2016-02 requires lessees to apply a two-method approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase. Lessees are required to record a right-of-use ("ROU") asset and a lease liability for all leases with a term of greater than 12 months. Lease liabilities equal the present value of future lease payments. Right-of-use assets equal the lease liabilities adjusted for accrued rent expense, initial direct costs, lease incentives and prepaid lease payments. Leases with a term of 12 months or less will be accounted for similar to the previously existing lease guidance under ASC Topic 840, Leases ("ASC 840"). Lease expense is recognized based on the effective interest method for finance leases or on a straight-line basis for operating leases. The accounting applied by the lessor is largely unchanged from that applied under ASC 840. We adopted this standard effective January 1, 2019. We have completed our evaluation of the overall impact of the adoption of ASU 2016-02 on our consolidated financial statements and accounting policies. In transitioning to ASC 842, we elected to use the practical expedient package available to us and did not elect to use hindsight. As of January 1, 2019, we had 12 ground leases classified as operating leases, for which we were required to record a right-of-use asset and a lease liability equal to the present value of the future lease payments. We will continue to recognize expense on a straight-line basis for these leases. We recorded an aggregate of $526,866,000 of ROU assets and a corresponding $526,866,000 of lease liabilities as a result of the adoption of this standard (see Note 21 - Leases ). 3 . Recently Issued Accounting Literature - continued Under ASU 2016-02, initial direct costs for both lessees and lessors would include only those costs that are incremental to the arrangement and would not have been incurred if the lease had not been obtained. As a result, beginning January 1, 2019, we no longer capitalize internal leasing costs and instead expense these costs as incurred, as a component of "general and administrative" expense on our consolidated statements of income. For the three and nine months ended September 30, 2018, we capitalized $1,444,000 and $3,883,000 , respectively, of internal leasing costs. In addition, we have made changes to our provision policy for lease receivables. Under ASC 842, we must assess on an individual lease basis whether it is probable that we will collect the future lease payments. We consider the tenant's payment history and current credit status when assessing collectability. When collectability is not deemed probable we write-off the tenant's receivables, including straight-line rent receivable, and limit lease income to cash received. Changes to the collectability of our operating leases are recorded as adjustments to "rental revenues" on our consolidated statements of income, which resulted in a decrease in income of $1,106,000 and $16,488,000 for the three and nine months ended September 30, 2019, respectively. In February 2016, the FASB issued an update (“ASU 2016-13”) Measurement of Credit Losses on Financial Instruments establishing ASC Topic 326, Financial Instruments - Credit Losses , as amended by subsequent ASUs on the topic. ASU 2016-13 changes how entities will account for credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The guidance replaces the current “incurred loss” model with an “expected loss” model that requires consideration of a broader range of information to estimate expected credit losses over the lifetime of the financial asset. ASU 2016-13 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2019. We are currently evaluating the impact of the adoption of ASU 2016-13 on our consolidated financial statements, but do not believe the adoption of this standard will have a material impact on our consolidated financial statements. In August 2018, the FASB issued an update (“ASU 2018-13”) Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement to ASC Topic 820, Fair Value Measurement (“ASC 820”). ASU 2018-13 modifies the disclosure requirements for fair value measurements by removing, modifying, and/or adding certain disclosures. ASU 2018-13 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2019. We elected to early adopt ASU 2018-13 effective January 1, 2019. The adoption of this update did not have a material impact on our consolidated financial statements and disclosures. In October 2018, the FASB issued an update ("ASU 2018-16") Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes to ASC Topic 815, Derivatives and Hedging . ASU 2018-16 expands the list of U.S. benchmark interest rates permitted in the application of hedge accounting by adding the OIS rate based on SOFR as an eligible benchmark interest rate. ASU 2018-16 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2018. We adopted this update effective January 1, 2019. The adoption of this update did not have an impact on our consolidated financial statements.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Our revenues primarily consist of rental revenues and fee and other income. We operate in two reportable segments: New York and Other, with a significant portion of our revenues included in the New York segment. We have the following revenue sources and revenue recognition policies: • Rental revenues include revenues from the leasing of space at our properties to tenants, lease termination income, revenues from the Hotel Pennsylvania, trade shows and tenant services. ◦ Revenues from the leasing of space at our properties to tenants includes (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 842. Lease revenues and reimbursement of common area maintenance, real estate taxes and insurance are presented on the following page as "property rentals." Revenues derived from fixed lease payments are recognized on a straight-line basis over the non-cancelable period of the lease, together with renewal options that are reasonably certain of being exercised. We commence rental revenue recognition when the underlying asset is available for use by the lessee. Revenue derived from the reimbursement of real estate taxes, insurance expenses and common area maintenance expenses are generally recognized in the same period as the related expenses are incurred. ◦ Lease termination income is recognized immediately if a tenant vacates or is recognized on a straight-line basis over the shortened remaining lease term in accordance with ASC 842. ◦ Hotel revenue arising from the operation of Hotel Pennsylvania consists of room revenue, food and beverage revenue, and banquet revenue. Room revenue is recognized when the rooms are made available for the guest, in accordance with ASC 842. ◦ Trade shows revenue arising from the operation of trade shows is primarily booth rentals. This revenue is recognized upon the occurrence of the trade shows when the trade show booths are made available for use by the exhibitors, in accordance with ASC 842. ◦ Tenant services revenue arises from sub-metered electric, elevator, trash removal and other services provided to tenants at their request. This revenue is recognized as the services are transferred in accordance with ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"). • Fee and other income includes management, leasing and other revenue arising from contractual agreements with third parties or with partially owned entities and includes Building Maintenance Service (“BMS”) cleaning, engineering and security services. This revenue is recognized as the services are transferred in accordance with ASC 606. 4 . Revenue Recognition - continued Below is a summary of our revenues by segment. Additional financial information related to these reportable segments for the three and nine months ended September 30, 2019 and 2018 is set forth in Note 23 - Segment Information . (Amounts in thousands) For the Three Months Ended September 30, 2019 For the Three Months Ended September 30, 2018 Total New York Other Total New York Other Property rentals $ 381,740 $ 308,933 $ 72,807 $ 453,789 $ 387,300 $ 66,489 Hotel Pennsylvania 24,499 24,499 — 26,088 26,088 — Trade shows 8,104 — 8,104 8,443 — 8,443 Lease revenues 414,343 333,432 80,911 488,320 413,388 74,932 Tenant services 13,295 9,342 3,953 15,627 11,696 3,931 Rental revenues 427,638 342,774 84,864 503,947 425,084 78,863 BMS cleaning fees 30,677 32,787 (2,110 ) (1) 28,873 31,328 (2,455 ) (1) Management and leasing fees 3,326 3,746 (420 ) 4,734 4,439 295 Other income 4,320 1,261 3,059 4,494 1,595 2,899 Fee and other income 38,323 37,794 529 38,101 37,362 739 Total revenues $ 465,961 $ 380,568 $ 85,393 $ 542,048 $ 462,446 $ 79,602 ____________________ (1) Represents the elimination of theMART and 555 California Street BMS cleaning fees which are included as income in the New York segment. (Amounts in thousands) For the Nine Months Ended September 30, 2019 For the Nine Months Ended September 30, 2018 Total New York Other Total New York Other Property rentals $ 1,211,641 $ 995,661 $ 215,980 $ 1,358,932 $ 1,160,140 $ 198,792 Hotel Pennsylvania 62,633 62,633 — 67,842 67,842 — Trade shows 36,607 — 36,607 38,903 — 38,903 Lease revenues 1,310,881 1,058,294 252,587 1,465,677 1,227,982 237,695 Tenant services 37,933 27,904 10,029 41,597 31,854 9,743 Rental revenues 1,348,814 1,086,198 262,616 1,507,274 1,259,836 247,438 BMS cleaning fees 93,032 99,488 (6,456 ) (1) 88,095 94,888 (6,793 ) (1) Management and leasing fees 10,063 10,469 (406 ) 10,205 9,384 821 Other income 11,823 4,079 7,744 14,729 5,374 9,355 Fee and other income 114,918 114,036 882 113,029 109,646 3,383 Total revenues $ 1,463,732 $ 1,200,234 $ 263,498 $ 1,620,303 $ 1,369,482 $ 250,821 ____________________ (1) Represents the elimination of theMART and 555 California Street BMS cleaning fees which are included as income in the New York segment.

Real Estate Fund Investments

Real Estate Fund Investments	9 Months Ended
	Sep. 30, 2019
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, which had an initial eight -year term ending February 2019. On January 29, 2018, the Fund's term was extended to February 2023. 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. We are also the general partner and investment manager of the Crowne Plaza Times Square Hotel Joint Venture (the “Crowne Plaza Joint Venture”) and own a 57.1% interest in the joint venture which owns the 24.7% interest in the Crowne Plaza Times Square Hotel not owned by the Fund. The Crowne Plaza Joint Venture is also accounted for under ASC 946 and we consolidate the accounts of the joint venture into our consolidated financial statements, retaining the fair value basis of accounting. As of September 30, 2019 , we have four real estate fund investments through the Fund and the Crowne Plaza Joint Venture with an aggregate fair value of $306,596,000 , or $22,968,000 below our cost, and had remaining unfunded commitments of $44,194,000 , of which our share was $13,969,000 . As of December 31, 2018 , we had four real estate fund investments with an aggregate fair value of $318,758,000 . Below is a summary of income (loss) from the Fund and the Crowne Plaza Joint Venture for the three and nine months ended September 30, 2019 and 2018 . (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Net investment income $ 2,190 $ 3,093 $ 2,382 $ 6,366 Net unrealized loss on held investments — (3,283 ) (16,162 ) (32,796 ) Net realized loss on exited investments — — — (913 ) New York City real property transfer tax (the "Transfer Tax") — — — (10,630 ) (1) Income (loss) from real estate fund investments 2,190 (190 ) (13,780 ) (37,973 ) Less (income) loss attributable to noncontrolling interests in consolidated subsidiaries (735 ) (558 ) (8,427 ) 34,338 Income (loss) from real estate fund investments attributable to the Operating Partnership 1,455 (748 ) (22,207 ) (3,635 ) Less (income) loss attributable to noncontrolling interests in the Operating Partnership (95 ) 46 1,403 224 Income (loss) from real estate fund investments attributable to Vornado $ 1,360 $ (702 ) $ (20,804 ) $ (3,411 ) ____________________ (1)

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2019
Marketable Securities [Abstract]
Marketable Securities	Marketable Securities Lexington Realty Trust ("Lexington") (NYSE: LXP) On March 1, 2019, we sold all of our 18,468,969 common shares of Lexington, realizing net proceeds of $167,698,000 . We recorded a $16,068,000 mark-to-market increase in the fair value of our common shares for the period from January 1, 2019 through the date of sale, which is included in "interest and other investment income, net" on our consolidated statements of income for the nine months ended September 30, 2019. Pennsylvania Real Estate Investment Trust (“PREIT”) (NYSE: PEI) On March 12, 2019 (the "Conversion Date"), we converted all of our 6,250,000 PREIT operating partnership units into common shares and began accounting for our investment as a marketable security in accordance with ASC Topic 321, Investments - Equity Securities ("ASC 321"). Prior to the Conversion Date, we accounted for our investment under the equity method. For the three and nine months ended September 30, 2019, we recorded a decrease of $4,875,000 and $19,211,000 , respectively, in the value of our investment based on PREIT's September 30, 2019 quarter ended closing share price, which is included in "interest and other investment income, net" on our consolidated statements of income . The table below summarizes the changes to our marketable securities portfolio for the nine months ended September 30, 2019 . (Amounts in thousands) For the Nine Months Ended September 30, 2019 Total Lexington Realty Trust PREIT Other Beginning balance, December 31, 2018 $ 152,198 $ 151,630 $ — $ 568 Sale of marketable securities (168,314 ) (167,698 ) — (616 ) Transfer of PREIT investment balance at Conversion Date 54,962 — 54,962 — (Decrease) increase in fair value of marketable securities (1) (3,095 ) 16,068 (19,211 ) 48 Ending balance, September 30, 2019 $ 35,751 $ — $ 35,751 $ — ____________________ (1) Included in “interest and other investment income, net” on our consolidated statements of income (see Note 18 - Interest and Other Investment Income, Net ).

Investments in Partially Owned

Investments in Partially Owned Entities	9 Months Ended
	Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Investments in Partially Owned Entities	Investments in Partially Owned Entities Fifth Avenue and Times Square JV On April 18, 2019 (the “Closing Date”), we entered into a transaction agreement (the “Transaction Agreement”) with a group of institutional investors (the “Investors”). The Transaction Agreement provides for a series of transactions (collectively, the “Transaction”) pursuant to which (i) prior to the Closing Date, we contributed our 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”) to subsidiaries of a newly formed joint venture (“Fifth Avenue and Times Square JV”) and (ii) on the Closing Date, transferred a 48.5% common interest in Fifth Avenue and Times Square JV to the Investors. The 48.5% common interest in the joint venture represents an effective 47.2% interest in the Properties (of which 45.4% was transferred from Vornado). The Properties include approximately 489,000 square feet of retail space, 327,000 square feet of office space, signage associated with 1535 and 1540 Broadway, the parking garage at 1540 Broadway and the theater at 1535 Broadway. We retained the remaining 51.5% common interest in Fifth Avenue and Times Square JV which represents an effective 51.0% interest in the Properties and an aggregate $1.828 billion of preferred equity interests in certain of the properties. We also provided $500,000,000 of temporary preferred equity on 640 Fifth Avenue until May 23, 2019 when mortgage financing was completed. All of the preferred equity has an annual coupon of 4.25% for the first five years, increasing to 4.75% for the next five years and thereafter at a formulaic rate. It can be redeemed under certain conditions on a tax deferred basis. Net cash proceeds from the Transaction were $1.179 billion , after (i) deductions for the defeasance of a $390,000,000 mortgage loan on 666 Fifth Avenue and the repayment of a $140,000,000 mortgage loan on 655 Fifth Avenue, (ii) proceeds from a $500,000,000 mortgage loan on 640 Fifth Avenue, described below, (iii) approximately $23,000,000 used to purchase noncontrolling investors' interests and (iv) approximately $53,000,000 of transaction costs (including $17,000,000 of costs related to the defeasance of the 666 Fifth Avenue mortgage loan). We continue to manage and lease the Properties. We share control with the Investors over major decisions of the joint venture, including decisions regarding leasing, operating and capital budgets, and refinancings. Accordingly, we no longer hold a controlling financial interest in the Properties which has been transferred to the joint venture. As a result, our investment in Fifth Avenue and Times Square JV is accounted for under the equity method from the date of transfer. T he Transaction valued the Properties at $5,556,000,000 resulting in a financial statement net gain of $2,571,099,000 , before noncontrolling interest of $11,945,000 , including the related step-up in our basis of the retained portion of the assets to fair value. The net gain is included in "net gain on transfer to Fifth Avenue and Times Square JV" on our consolidated statements of income for the nine months ended September 30, 2019. The gain for tax purposes was approximately $735,000,000 . On May 23, 2019, we received $500,000,000 from the redemption of our temporary preferred equity in 640 Fifth Avenue. The temporary preferred equity was redeemed from the proceeds of a $500,000,000 mortgage financing that was completed on the property. The five year loan, which is guaranteed by us, is interest only at LIBOR plus 1.01% . The interest rate was swapped for four years to a fixed rate of 3.07% . Related Party Transactions We provide various services to Fifth Avenue and Times Square JV in accordance with management, development, leasing and other agreements, as described below. 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 Acquisitions Inc. ("Crown"), and exclusively provide leasing services for the office space. During the three and nine months ended September 30, 2019 , we recognized $1,104,000 and $1,934,000 , respectively, of property management fee income which is included in "fee and other income" on our consolidated statements of income. BMS, our wholly-owned subsidiary, supervises cleaning, security and engineering services at certain of the Properties. During the three and nine months ended September 30, 2019 , we recognized $1,161,000 and $1,952,000 , respectively, of income for these services which is included in "fee and other income" on our consolidated statements of income. We believe, based on comparable fees charged by other real estate companies, that the fees described above are at fair market value. Haim Chera, Executive Vice President - Head of Retail, has an investment in Crown, a company 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. 7 . Investments in Partially Owned Entities - continued Alexander’s, Inc. (“Alexander’s”) (NYSE: ALX) As of September 30, 2019 , we own 1,654,068 Alexander’s common shares, or approximately 32.4% of Alexander’s common equity. We manage, lease and develop Alexander’s properties pursuant to agreements which expire in March of each year and are automatically renewable. As of September 30, 2019 , the market value ("fair value" pursuant to ASC 820) of our investment in Alexander’s, based on Alexander’s September 30, 2019 quarter ended closing share price of $348.41 , was $576,294,000 , or $475,066,000 in excess of the carrying amount on our consolidated balance sheet. As of September 30, 2019 , 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 $38,882,000 . 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. The basis difference related to the land will be recognized upon disposition of our investment. 61 Ninth Avenue On January 28, 2019, a joint venture, in which we have a 45.1% interest, completed a $167,500,000 refinancing of 61 Ninth Avenue, a 166,000 square foot office and retail property in the Meatpacking district of Manhattan which is fully leased to Aetna and Starbucks. The seven-year interest only loan carries a rate of LIBOR plus 1.35% ( 3.40% as of September 30, 2019 ) and matures in January 2026. We realized net proceeds of approximately $31,000,000 . The loan replaces the previous $90,000,000 construction loan that bore interest at LIBOR plus 3.05% and was scheduled to mature in 2021. Urban Edge Properties (“UE”) (NYSE: UE) On March 4, 2019, we converted to common shares and sold all of our 5,717,184 partnership units of UE, realizing net proceeds of $108,512,000 . The sale resulted in a net gain of $62,395,000 which is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income for the nine months ended September 30, 2019 . 512 West 22nd Street On June 28, 2019, a joint venture, in which we have a 55% interest, completed a $145,700,000 refinancing of 512 West 22nd Street, a 173,000 square foot office building in the West Chelsea submarket of Manhattan, of which $106,425,000 was outstanding as of September 30, 2019. The four-year interest only loan carries a rate of LIBOR plus 2.00% ( 4.05% as of September 30, 2019 ) and matures in June 2023 with a one-year extension option. The loan replaces the previous $126,000,000 construction loan that bore interest at LIBOR plus 2.65% and was scheduled to mature in 2019. 330 Madison Avenue On July 11, 2019, we sold our 25% interest in 330 Madison Avenue to our joint venture partner. We received net proceeds of approximately $100,000,000 after deducting our share of the existing $500,000,000 mortgage loan resulting in a financial statement net gain of $159,292,000 . The net gain is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income for the three and nine months ended September 30, 2019 . The gain for tax purposes was approximately $139,000,000 . 825 Seventh Avenue On July 25, 2019, a joint venture, in which we have a 50% interest, completed a $60,000,000 refinancing of 825 Seventh Avenue, a 165,000 square foot office building on the corner of 53rd Street and Seventh Avenue, of which $28,882,000 was outstanding as of September 30, 2019. The interest-only loan carries a rate of LIBOR plus 1.65% ( 3.78% as of September 30, 2019 ) and matures in 2022 with a one-year extension option. The loan replaces the previous $20,500,000 loan that bore interest at LIBOR plus 1.40% and was scheduled to mature in September 2019. 7 . Investments in Partially Owned Entities - continued Toys "R" Us, Inc. ("Toys") On September 18, 2017, Toys filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code. In the second quarter of 2018, Toys ceased U.S. operations. On February 1, 2019, the plan of reorganization for Toys, in which we owned a 32.5% interest, was declared effective and our stock in Toys was canceled. As of December 31, 2018, we carried our Toys investment at zero . The canceling of our stock in Toys resulted in a $420,000,000 capital loss deduction for tax purposes in 2019 (which if not offset by capital gains will result in a capital loss carry over available for five years). Below is a schedule summarizing our investments in partially owned entities. (Amounts in thousands) Percentage Ownership at Balance as of September 30, 2019 December 31, 2018 Investments: Fifth Avenue and Times Square JV (see page 30 for details) 51.5% $ 3,308,363 $ — Partially owned office buildings/land (1) Various 467,787 499,005 Alexander’s 32.4% 101,228 107,983 PREIT (2) N/A — 59,491 UE (3) N/A — 45,344 Other investments (4) Various 146,442 146,290 $ 4,023,820 $ 858,113 Investments in partially owned entities included in other liabilities (5) : 330 Madison Avenue (6) N/A $ — $ (58,117 ) 7 West 34th Street 53.0% (52,222 ) (51,579 ) 85 Tenth Avenue 49.9% (5,814 ) — $ (58,036 ) $ (109,696 ) ____________________ (1) Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 512 West 22nd Street, 61 Ninth Avenue and others. (2) On March 12, 2019, we converted all of our PREIT operating partnership units into common shares and began accounting for our investment as a marketable security in accordance with ASC 321 (see Note 6 - Marketable Securities ). (3) Sold on March 4, 2019 (see page 31 for details). (4) Includes interests in Independence Plaza, Fashion Centre Mall/Washington Tower, Rosslyn Plaza, 50-70 West 93rd Street and others. (5) Our negative basis results from distributions in excess of our investment. (6) Sold on July 11, 2019 (see page 31 for details). 7 . Investments in Partially Owned Entities - continued Below is a schedule of income from partially owned entities. (Amounts in thousands) Percentage For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Our share of net income (loss): Fifth Avenue and Times Square JV (see page 30 for details): Equity in net income 51.5% $ 9,891 $ — $ 21,108 $ — Return on preferred equity, net of our share of the expense 9,545 — 18,131 — 19,436 — 39,239 — Alexander's (see page 31 for details): Equity in net income (1) 32.4% 5,393 4,278 14,707 7,215 Management, leasing and development fees 1,299 1,149 3,478 3,378 6,692 5,427 18,185 10,593 Partially owned office buildings (2) Various (186 ) 735 (1,531 ) (1,546 ) Other investments (3) Various 4 1,044 246 (2,988 ) $ 25,946 $ 7,206 $ 56,139 $ 6,059 ____________________ (1) The nine months ended September 30, 2018 includes our $7,708 share of Alexander's disputed additional Transfer Tax related to the November 2012 sale of Kings Plaza Regional Shopping Center. Alexander's recorded this expense based on the precedent established by the Tax Tribunal's decision regarding One Park Avenue (see Note 5 - Real Estate Fund Investments ). (2) Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 7 West 34th Street, 330 Madison Avenue (sold on July 11, 2019), 512 West 22nd Street, 61 Ninth Avenue, 85 Tenth Avenue and others. The nine months ended September 30, 2019 includes a $1,079 reduction in income from the non-cash write-off of straight-line rent receivable related to The Four Seasons Restaurant at 280 Park Avenue. The nine months ended September 30, 2018 includes our $4,978 share of disputed additional Transfer Tax related to the March 2011 acquisition of One Park Avenue (see Note 5 - Real Estate Fund Investments ). (3) Includes interests in Independence Plaza, Fashion Centre Mall/Washington Tower, Rosslyn Plaza, 50-70 West 93rd Street, 666 Fifth Avenue Office Condominium (sold on August 3, 2018), UE (sold on March 4, 2019), PREIT (accounted as a marketable security from March 12, 2019) and others.

220 Central Park South 220 CPS

220 Central Park South 220 CPS	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
220 Central Park South 220 CPS	220 Central Park South ("220 CPS") We are constructing a residential condominium tower containing 397,000 salable square feet at 220 CPS. The development cost of this project (exclusive of land cost) is estimated to be approximately $1.4 billion , of which $1.3 billion has been expended as of September 30, 2019 . During the three months ended September 30, 2019, we closed on the sale of 14 condominium units at 220 CPS for net proceeds aggregating $348,759,000 resulting in a financial statement net gain of $130,888,000 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, $21,853,000 of income tax expense was recognized on our consolidated statements of income. During the nine months ended September 30, 2019, we closed on the sale of 37 condominium units at 220 CPS for net proceeds of $1,039,493,000 resulting in a financial statement net gain of $400,500,000 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, $71,590,000 of income tax expense was recognized on our consolidated statements of income. From inception to September 30, 2019, we closed on the sale of 48 units for aggregate net proceeds of $1,254,269,000 . During the third quarter of 2019, we repaid the remaining $48,883,000 of the $950,000,000 220 CPS loan. Of the condominium units closed, one was sold to a limited liability company owned by the spouse of a related party, David Mandelbaum, a Trustee of Vornado and a Director of Alexander’s, and another was sold to Mr. Mandelbaum's brother. The net proceeds were $23,357,000 and $16,099,000 , respectively.

Dispositions

Dispositions	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	Dispositions On September 18, 2019, we completed the $49,750,000 sale of 3040 M Street, a 44,000 square foot retail building in Washington, DC, which resulted in a net gain of $19,477,000 which is included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income for the three and nine months ended September 30, 2019. The gain for tax purposes was approximately $19,000,000 .

Identified Intangible Assets an

Identified Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2019
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Identified Intangible Assets and Liabilities	Identified Intangible Assets and Liabilities The following summarizes our identified intangible assets (primarily above-market leases) and liabilities (primarily acquired below-market leases) as of September 30, 2019 and December 31, 2018 . (Amounts in thousands) Balance as of September 30, 2019 December 31, 2018 Identified intangible assets: Gross amount $ 130,396 $ 308,895 Accumulated amortization (99,623 ) (172,114 ) Total, net $ 30,773 $ 136,781 Identified intangible liabilities (included in deferred revenue): Gross amount $ 321,838 $ 503,373 Accumulated amortization (265,388 ) (341,779 ) Total, net $ 56,450 $ 161,594 Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental revenues of $4,393,000 and $10,373,000 for the three months ended September 30, 2019 and 2018 , respectively, and $15,561,000 and $31,480,000 for the nine months ended September 30, 2019 and 2018 , respectively. Estimated annual amortization of acquired below-market leases, net of acquired above-market leases, for each of the five succeeding years commencing January 1, 2020 is as follows: (Amounts in thousands) 2020 $ 16,643 2021 11,934 2022 8,792 2023 6,261 2024 2,518 Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $1,597,000 and $4,822,000 for the three months ended September 30, 2019 and 2018 , respectively, and $7,077,000 and $14,557,000 for the nine months ended September 30, 2019 and 2018 , respectively. Estimated annual amortization of all other identified intangible assets including acquired in-place leases for each of the five succeeding years commencing January 1, 2020 is as follows: (Amounts in thousands) 2020 $ 6,300 2021 4,763 2022 3,050 2023 2,964 2024 2,351

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt On February 4, 2019, we completed a $95,700,000 refinancing of 435 Seventh Avenue, a 43,000 square foot Manhattan retail property. The interest-only loan carries a rate of LIBOR plus 1.30% ( 3.37% as of September 30, 2019) and matures in 2024. The recourse loan replaces the previous $95,700,000 loan that bore interest at LIBOR plus 2.25% and was scheduled to mature in August 2019. On February 12, 2019, we completed a $580,000,000 refinancing of 100 West 33rd Street, a 1.1 million square foot Manhattan property comprised of 859,000 square feet of office space and the 256,000 square foot Manhattan Mall. The interest-only loan carries a rate of LIBOR plus 1.55% ( 3.62% as of September 30, 2019) and matures in April 2024, with two one -year extension options. The loan replaces the previous $580,000,000 loan that bore interest at LIBOR plus 1.65% and was scheduled to mature in July 2020. On May 24, 2019, we extended our $375,000,000 mortgage loan on 888 Seventh Avenue, a 886,000 square foot Manhattan office building, from December 2020 to December 2025. The interest rate on the extended mortgage loan is LIBOR plus 1.70% ( 3.73% as of September 30, 2019). Pursuant to an existing swap agreement, the interest rate on the $375,000,000 mortgage loan has been swapped to 3.25% through December 2020. On September 5, 2019, a consolidated joint venture, in which we have a 50% interest, completed a $75,000,000 refinancing of 606 Broadway, a 35,000 square foot office and retail building on the northeast corner of Broadway and Houston Street in Manhattan, of which $67,500,000 was outstanding as of September 30, 2019. The interest-only loan carries a rate of LIBOR plus 1.80% ( 3.85% as of September 30, 2019 ) and matures in 2024. In connection therewith, the joint venture purchased an interest rate cap that caps LIBOR at a rate of 4.00% . The loan replaces the previous $65,000,000 construction loan . The construction loan bore interest at LIBOR plus 3.00% and was scheduled to mature in May 2021. On September 27, 2019, we repaid the $575,000,000 mortgage loan on PENN2 with proceeds from our unsecured revolving credit facilities. The mortgage loan was scheduled to mature in December 2021, as fully extended. PENN2 is a 1,795,000 square foot office building located on the west side of 7th Avenue between 31st and 33rd Street currently under redevelopment. Senior Unsecured Notes On March 1, 2019, we called for redemption all of our $400,000,000 5.00% senior unsecured notes. The notes, which were scheduled to mature in January 2022, were redeemed on April 1, 2019 at a redemption price of 105.51% of the principal amount plus accrued interest. In connection therewith, we expensed $22,540,000 relating to debt prepayment costs which is included in "interest and debt expense" on our consolidated statements of income for the nine months ended September 30, 2019. Unsecured Revolving Credit Facility On March 26, 2019, we increased to $1.5 billion (from $1.25 billion ) and extended to March 2024 (as fully extended) from February 2022 one of our two unsecured revolving credit facilities. The interest rate on the extended facility was lowered from LIBOR plus 1.00% to LIBOR plus 0.90% . The facility fee remains unchanged at 20 basis points. The following is a summary of our debt: (Amounts in thousands) Weighted Average Interest Rate at Balance as of September 30, 2019 December 31, 2018 Mortgages Payable: Fixed rate 3.52% $ 4,605,475 $ 5,003,465 Variable rate 3.65% 1,068,196 3,212,382 Total 3.55% 5,673,671 8,215,847 Deferred financing costs, net and other (32,776 ) (48,049 ) Total, net $ 5,640,895 $ 8,167,798 Unsecured Debt: Senior unsecured notes 3.50% $ 450,000 $ 850,000 Deferred financing costs, net and other (4,332 ) (5,998 ) Senior unsecured notes, net 445,668 844,002 Unsecured term loan 3.87% 750,000 750,000 Deferred financing costs, net and other (4,415 ) (5,179 ) Unsecured term loan, net 745,585 744,821 Unsecured revolving credit facilities 2.96% 655,000 80,000 Total, net $ 1,846,253 $ 1,668,823

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests/Redeemable Partnership Units	9 Months Ended
	Sep. 30, 2019
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interests/Redeemable Partnership Units	Redeemable Noncontrolling Interests/Redeemable Partnership Units Redeemable noncontrolling interests on Vornado’s consolidated balance sheets and redeemable partnership units on the consolidated balance sheets of the Operating Partnership 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. (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Beginning balance $ 862,062 $ 938,041 $ 783,562 $ 984,937 Net income 22,637 12,671 197,354 18,992 Other comprehensive (loss) income (650 ) 54 (3,732 ) 913 Distributions (8,852 ) (7,976 ) (25,788 ) (23,867 ) Redemption of Class A units for Vornado common shares, at redemption value (1,999 ) (1,843 ) (8,128 ) (14,089 ) Adjustments to carry redeemable Class A units at redemption value (24,228 ) (21,520 ) (123,635 ) (57,970 ) Other, net 5,363 5,155 34,700 15,666 Ending balance $ 854,333 $ 924,582 $ 854,333 $ 924,582 As of September 30, 2019 and December 31, 2018 , the aggregate redemption value of redeemable Class A units of the Operating Partnership, which are those units held by third parties, was $849,798,000 and $778,134,000 , respectively. Redeemable noncontrolling interests/redeemable 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 , because of their possible settlement by issuing a variable number of Vornado common shares. Accordingly, the fair value of these units is included as a component of “other liabilities” on our consolidated balance sheets and aggregated $50,561,000 as of September 30, 2019 and December 31, 2018 . Changes in the value from period to period, if any, are charged to “interest and debt expense” on our consolidated statements of income.

Shareholders' Equity_Partners'

Shareholders' Equity/Partners' Capital	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Shareholders' Equity/Partners' Capital	Shareholders' Equity/Partners' Capital The following table sets forth the details of our dividends/distributions per common share/Class A unit and dividends/distributions per share/unit for each class of preferred shares/units of beneficial interest for the three and nine months ended September 30, 2019 and 2018 . (Per share/unit) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Shares/Units: Common shares/Class A units held by Vornado: authorized 250,000,000 shares/units $ 0.66 $ 0.63 $ 1.98 $ 1.89 Convertible Preferred (1) : 6.5% Series A: authorized 83,977 shares/units (2) 0.8125 0.8125 2.4375 2.4375 Cumulative Redeemable Preferred (1) : 5.70% Series K: authorized 12,000,000 shares/units (3) 0.3563 0.3563 1.0689 1.0689 5.40% Series L: authorized 12,000,000 shares/units (3) 0.3375 0.3375 1.0125 1.0125 5.25% Series M: authorized 12,780,000 shares/units (3) 0.3281 0.3281 0.9843 0.9843 ____________________ (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) 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. Accumulated Other Comprehensive (Loss) Income The following tables set forth the changes in accumulated other comprehensive (loss) income by component. (Amounts in thousands) Total Marketable securities Pro rata share of nonconsolidated subsidiaries' OCI Interest rate swaps Other For the three months ended September 30, 2019: Balance, June 30, 2019 $ (38,066 ) $ — $ (18 ) $ (33,785 ) $ (4,263 ) Net current period other comprehensive (loss) income (9,293 ) — 11 (9,953 ) 649 Balance, September 30, 2019 $ (47,359 ) $ — $ (7 ) $ (43,738 ) $ (3,614 ) For the three months ended September 30, 2018: Balance, June 30, 2018 $ 33,351 $ — $ 2,834 $ 39,559 $ (9,042 ) Net current period other comprehensive income (loss) 822 — 253 623 (54 ) Balance, September 30, 2018 $ 34,173 $ — $ 3,087 $ 40,182 $ (9,096 ) For the nine months ended September 30, 2019: Balance, December 31, 2018 $ 7,664 $ — $ 3,253 $ 11,759 $ (7,348 ) Net current period other comprehensive (loss) income (52,712 ) — (949 ) (55,497 ) 3,734 Amount reclassified from AOCI (1) (2,311 ) — (2,311 ) — — Balance, September 30, 2019 $ (47,359 ) $ — $ (7 ) $ (43,738 ) $ (3,614 ) For the nine months ended September 30, 2018: Balance, December 31, 2017 $ 128,682 $ 109,554 $ 3,769 $ 23,542 $ (8,183 ) Cumulative effect of accounting change (108,374 ) (109,554 ) (1,671 ) 2,851 — Net current period other comprehensive income (loss) 13,865 — 989 13,789 (913 ) Balance, September 30, 2018 $ 34,173 $ — $ 3,087 $ 40,182 $ (9,096 ) ____________________ (1) Amount reclassified related to the conversion of our PREIT operating partnership units into common shares.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2019
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities ("VIEs") Unconsolidated VIEs As of September 30, 2019 and December 31, 2018 , we have 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 7 – Investments in Partially Owned Entities ). As of September 30, 2019 and December 31, 2018 , the net carrying amount of our investments in these entities was $216,276,000 and $257,882,000 , respectively. Our maximum exposure to loss in these entities is limited to the carrying amount of our investments. Consolidated VIEs Our most significant consolidated VIEs are the Operating Partnership (for Vornado), the Fund and the Crowne Plaza Joint Venture, the Farley joint venture and certain properties that have non-controlling interests. These entities are VIEs because the non-controlling interests do not have substantive kick-out or participating rights. We consolidate these entities because we control all significant business activities. As of September 30, 2019 , the total assets and liabilities of our consolidated VIEs, excluding the Operating Partnership, were $4,898,971,000 and $2,612,681,000 , respectively. As of December 31, 2018 , the total assets and liabilities of our consolidated VIEs, excluding the Operating Partnership, were $4,445,436,000 and $2,533,753,000 , respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
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; 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) marketable securities, (ii) real estate fund investments, (iii) the assets in our deferred compensation plan (for which there is a corresponding liability on our consolidated balance sheets), (iv) interest rate swaps 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 as of September 30, 2019 and December 31, 2018 , respectively. (Amounts in thousands) As of September 30, 2019 Total Level 1 Level 2 Level 3 Marketable securities $ 35,751 $ 35,751 $ — $ — Real estate fund investments 306,596 — — 306,596 Deferred compensation plan assets ($18,079 included in restricted cash and $81,599 in other assets) 99,678 72,501 — 27,177 Interest rate swaps (included in other assets) 5,901 — 5,901 — Total assets $ 447,926 $ 108,252 $ 5,901 $ 333,773 Mandatorily redeemable instruments (included in other liabilities) $ 50,561 $ 50,561 $ — $ — Interest rate swaps (included in other liabilities) 49,539 — 49,539 — Total liabilities $ 100,100 $ 50,561 $ 49,539 $ — (Amounts in thousands) As of December 31, 2018 Total Level 1 Level 2 Level 3 Marketable securities $ 152,198 $ 152,198 $ — $ — Real estate fund investments 318,758 — — 318,758 Deferred compensation plan assets ($8,402 included in restricted cash and $88,122 in other assets) 96,524 58,716 — 37,808 Interest rate swaps (included in other assets) 27,033 — 27,033 — Total assets $ 594,513 $ 210,914 $ 27,033 $ 356,566 Mandatorily redeemable instruments (included in other liabilities) $ 50,561 $ 50,561 $ — $ — Interest rate swaps (included in other liabilities) 15,236 — 15,236 — Total liabilities $ 65,797 $ 50,561 $ 15,236 $ — 15 . Fair Value Measurements - continued Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - continued Real Estate Fund Investments As of September 30, 2019 , we have four real estate fund investments with an aggregate fair value of $306,596,000 , or $22,968,000 below our cost. 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 real estate fund investments as of September 30, 2019 and December 31, 2018 . Range Weighted Average (based on fair value of investments) Unobservable Quantitative Input September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Discount rates 10.0% to 15.0% 10.0% to 15.0% 13.5% 13.4% Terminal capitalization rates 5.1% to 7.6% 5.4% to 7.7% 5.5% 5.7% The above inputs are subject to change based on changes in economic and market conditions and/or changes in use or timing of exit. Changes in discount rates and terminal capitalization rates result in increases or decreases in the fair values of these investments. The discount rates encompass, among other things, uncertainties in the valuation models with respect to terminal capitalization rates and the amount and timing of cash flows. Therefore, a change in the fair value of these investments resulting from a change in the terminal capitalization rate may be partially offset by a change in the discount rate. It is not possible for us to predict the effect of future economic or market conditions on our estimated fair values. The table below summarizes the changes in the fair value of real estate fund investments that are classified as Level 3, for the three and nine months ended September 30, 2019 and 2018 . (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Beginning balance $ 306,596 $ 373,039 $ 318,758 $ 354,804 Purchases/additional fundings — — 4,000 68,950 Net unrealized loss on held investments — (3,283 ) (16,162 ) (32,796 ) Dispositions — — — (20,291 ) Net realized loss on exited investments — — — (913 ) Other, net — 11 — 13 Ending balance $ 306,596 $ 369,767 $ 306,596 $ 369,767 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 from a third-party administrator, which are compiled from the quarterly reports provided to them from each limited partnership and investment fund. The quarterly reports provide net asset values on a fair value basis which are audited by independent public accounting firms on an annual basis. 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, for the three and nine months ended September 30, 2019 and 2018 . (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Beginning balance $ 21,991 $ 39,870 $ 37,808 $ 40,128 Sales (652 ) (3,304 ) (20,807 ) (6,813 ) Purchases 5,437 1,576 8,314 3,209 Realized and unrealized gains 116 180 854 892 Other, net 285 466 1,008 1,372 Ending balance $ 27,177 $ 38,788 $ 27,177 $ 38,788 Fair Value Measurements on a Nonrecurring Basis Assets measured at fair value on a nonrecurring basis on our consolidated balance sheets consist primarily of real estate assets required to be measured for impairment as of December 31, 2018 . The fair value of real estate assets required to be measured for impairment were determined using comparable sales activity. There were no assets measured at fair value on a nonrecurring basis on our consolidated balance sheet as of September 30, 2019 . (Amounts in thousands) As of December 31, 2018 Total Level 1 Level 2 Level 3 Real estate assets $ 14,971 $ — $ — $ 14,971 15 . Fair Value Measurements - continued 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 values of cash equivalents and borrowings under our unsecured revolving credit facilities and unsecured term loan are classified as Level 1. The fair values of our secured and unsecured debt are classified as Level 2. The table below summarizes the carrying amounts and fair value of these financial instruments as of September 30, 2019 and December 31, 2018 . (Amounts in thousands) As of September 30, 2019 As of December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Cash equivalents $ 979,060 $ 979,000 $ 261,981 $ 262,000 Debt: Mortgages payable $ 5,673,671 $ 5,725,000 $ 8,215,847 $ 8,179,000 Senior unsecured notes 450,000 465,000 850,000 847,000 Unsecured term loan 750,000 750,000 750,000 750,000 Unsecured revolving credit facilities 655,000 655,000 80,000 80,000 Total $ 7,528,671 (1) $ 7,595,000 $ 9,895,847 (1) $ 9,856,000 ____________________ (1) Excludes $41,523 and $59,226 of deferred financing costs, net and other as of September 30, 2019 and December 31, 2018 , respectively.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation On January 14, 2019, the Compensation Committee of the Board (the “Committee”) approved the issuance of performance conditioned appreciation-only long-term incentive plan units ("Performance Conditioned AO LTIP Units") pursuant to the 2010 Omnibus Share Plan to our named executive officers ("NEOs") in our 2019 proxy statement. Performance Conditioned AO LTIP Units are AO LTIP Units that require the achievement of certain performance conditions by a specified date or they are forfeited. The performance-based condition is met if Vornado common shares trade at or above 110% of the $64.48 grant price per share for any 20 consecutive days on or before the fourth anniversary following the date of grant. If the performance conditions are not met, the awards 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. The fair value of the Performance Conditioned AO LTIP Units on the date of grant was $8,983,000 , of which $7,481,000 was immediately expensed due to the acceleration of vesting for employees who are retirement eligible. The remaining $1,502,000 is being amortized into expense over a four -year period from the date of grant using a graded vesting attribution model. On May 16, 2019, our shareholders approved the 2019 Omnibus Share Plan (the “Plan"), which replaces the 2010 Omnibus Share Plan. Under the Plan, the Committee may grant incentive and non-qualified Vornado stock options, restricted stock, restricted Operating Partnership units ("OP units"), out-performance plan awards ("OPPs"), appreciation-only long-term incentive plan units (“AO LTIP Units”) and Performance Conditioned AO LTIP Units to certain of our employees and officers. Awards may be granted up to a maximum 5,500,000 shares, if all awards granted are Full Value awards, as defined in the Plan, and up to 11,000,000 shares, if all of the awards granted are Not Full Value Awards, as defined in the Plan. Full Value Awards are awards of securities, such as restricted shares, that, if all vesting requirements are met, do not require the payment of an exercise price or strike price to acquire the securities. Not Full Value Awards are awards of securities, such as options, that do require the payment of an exercise price or strike price. We account for all equity-based compensation in accordance with ASC Topic 718, Compensation - Stock Compensation . Stock-based compensation expense, a component of "general and administrative" expense on our consolidated statements of income, was $5,871,000 and $5,545,000 for the three months ended September 30, 2019 and 2018, respectively, and $48,045,000 and $26,190,000 for the nine months ended September 30, 2019 and 2018, respectively. Stock-based compensation expense for the three months ended March 31, 2019 included $16,211,000 from the accelerated vesting of previously issued OP units and Vornado restricted stock due to the removal of the time-based vesting requirement for participants who have reached 65 years of age. The right to sell such awards remains subject to original terms of grant. The increase in expense in the first quarter of 2019 was partially offset by lower stock-based compensation expense of $2,578,000 in each of the second and third quarter of 2019; and will be completely offset by lower stock-based compensation expense of $2,578,000 in the fourth quarter of 2019 and $8,477,000 thereafter. Stock-based compensation expense also includes $1,413,000 and $6,729,000 for the three and nine months ended September 30, 2019 , respectively, for OP units granted outside of the Plan to an executive officer in connection with his employment in reliance on the employment inducement exception to shareholder approval provided under the New York Stock Exchange Listing Rule 303A.08; and $988,000 and $1,317,000 for the three and nine months ended September 30, 2019 , respectively, for OP units granted under the Plan to certain executive officers as a result of promotions. The award granted outside of the Plan has a grant date fair value of $25,500,000 and vests 20% on the grant date, 40% on the three-year anniversary of the date of grant, and 40% on the four-year anniversary of the date of grant. The awards granted under the Plan have an aggregate grant date fair value of $15,000,000 and cliff vest after four years. Compensation expense related to OP unit grants are recognized ratably over the vesting period. Additional non-cash expense associated with these awards will be $2,401,000 in the fourth quarter of 2019, $9,603,000 in each of 2020 and 2021, $7,718,000 in 2022 and $2,655,000 in 2023.

Transaction Related Costs, Impa

Transaction Related Costs, Impairment Losses and Other	9 Months Ended
	Sep. 30, 2019
Transaction Related Costs, Impairment Losses and Other [Abstract]
Transaction Related Costs, Impairment Losses and Other	Transaction Related Costs, Impairment Losses and Other The following table sets forth the details of transaction related costs, impairment losses and other: (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Transaction related costs $ 1,576 $ 2,510 $ 1,955 $ 3,580 Non-cash impairment losses, substantially 608 Fifth Avenue (see below) — — 101,360 — Transfer tax (1) — — — 13,103 $ 1,576 $ 2,510 $ 103,315 $ 16,683 ____________________ (1) Disputed additional Transfer Tax recorded in the first quarter 2018 related to the December 2012 acquisition of Independence Plaza. The joint venture, in which we have a 50.1% economic interest, that owns Independence Plaza recorded this expense based on the precedent established by the Tax Tribunal's decision regarding One Park Avenue (see Note 5 - Real Estate Fund Investments ). 608 Fifth Avenue During the second quarter of 2019, Arcadia Group US Ltd ("Arcadia Group"), the operator of Topshop, our retail tenant at 608 Fifth Avenue, filed for Chapter 15 bankruptcy protection in the United States. On June 28, 2019, Arcadia Group closed all of its stores in the United States. 608 Fifth Avenue is subject to a land and building lease which expires in 2033. The non-recourse lease calls for fixed lease payments through the term, plus payments for real estate taxes, insurance and operating expenses. Based on current market rental rates, the cash flows of the property would not be sufficient to cover the operating expenses, including the fixed lease payments. Consequently, we concluded that the carrying amount of the property, which includes our right-of-use asset, was not recoverable resulting in a write-down to zero. Our estimate of fair value of the property was derived from a discounted cash flow model based upon market conditions and expectations of growth. We recognized a $93,860,000 non-cash impairment loss on our consolidated statements of income in the second quarter of 2019, of which $75,220,000 resulted from the impairment of our right-of-use asset. As of September 30, 2019, a $72,088,000 lease liability remains, which will be recognized as income when the non-recourse lease is terminated. In August 2019, we delivered the required nine month notice to the ground lessor that we will terminate the lease in May 2020.

Interest and Other Investment I

Interest and Other Investment Income, Net	9 Months Ended
	Sep. 30, 2019
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 Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 (Decrease) increase in fair value of marketable securities: PREIT (see page 29 for details) $ (4,875 ) $ — $ (19,211 ) $ — Lexington (see page 29 for details) — (7,942 ) 16,068 (24,934 ) Other 7 243 48 133 (4,868 ) (7,699 ) (3,095 ) (24,801 ) Interest on cash and cash equivalents and restricted cash 4,060 4,306 8,753 12,370 Interest on loans receivable (1) 1,604 2,004 4,845 8,952 Dividends on marketable securities 1,312 3,354 2,625 10,060 Other, net 937 928 2,802 2,820 $ 3,045 $ 2,893 $ 15,930 $ 9,401 ____________________ (1) The three and nine months ended September 30, 2018 include $1,250 and $6,707 , respectively, of profit participation in connection with an investment in a mezzanine loan which was previously repaid to us.

Interest and Debt Expense

Interest and Debt Expense	9 Months Ended
	Sep. 30, 2019
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 Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Interest expense (1) $ 72,345 $ 98,841 $ 266,597 $ 290,006 Capitalized interest and debt expense (16,047 ) (18,238 ) (59,184 ) (49,718 ) Amortization of deferred financing costs 5,150 8,348 19,527 24,486 $ 61,448 $ 88,951 $ 226,940 $ 264,774 ____________________ (1) The nine months ended September 30, 2019 includes $22,540 debt prepayment costs in connection with the redemption of $400,000 5.00% senior unsecured notes which were scheduled to mature in January 2022.

Income Per Share_Income Per Cla

Income Per Share/Income Per Class A Unit	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Income Per Share/Income Per Class A Unit	Income Per Share/Income Per Class A Unit Vornado Realty Trust The following table presents the calculations of (i) basic income per common share which includes the weighted average number of common shares outstanding without regard to dilutive potential common shares and (ii) diluted income per common share which includes the weighted average common shares and dilutive share equivalents. Unvested share-based payment awards that contain non-forfeitable rights to dividends, whether paid or unpaid, are accounted for as participating securities. Earnings are allocated to participating securities, which include restricted stock awards, based on the two-class method. Other potential dilutive share equivalents such as our employee stock options, OP Units, OPPs, AO LTIP Units and Performance Conditioned AO LTIP Units are included in the computation of diluted Earnings Per Share ("EPS") using the treasury stock method, while the dilutive effect of our Series A convertible preferred shares is reflected in diluted EPS by application of the if-converted method. (Amounts in thousands, except per share amounts) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Numerator: Income from continuing operations, net of income attributable to noncontrolling interests $ 335,445 $ 203,122 $ 2,942,267 $ 336,570 (Loss) income from discontinued operations, net of income attributable to noncontrolling interests (7 ) 57 (80 ) 357 Net income attributable to Vornado 335,438 203,179 2,942,187 336,927 Preferred share dividends (12,532 ) (12,534 ) (37,598 ) (38,103 ) Preferred share issuance costs — — — (14,486 ) Net income attributable to common shareholders 322,906 190,645 2,904,589 284,338 Earnings allocated to unvested participating securities (33 ) (17 ) (291 ) (33 ) Numerator for basic income per share 322,873 190,628 2,904,298 284,305 Impact of assumed conversions: Convertible preferred share dividends 14 15 43 47 Earnings allocated to Out-Performance Plan units — — 9 127 Numerator for diluted income per share $ 322,887 $ 190,643 $ 2,904,350 $ 284,479 Denominator: Denominator for basic income per share – weighted average shares 190,814 190,245 190,762 190,176 Effect of dilutive securities (1) : Employee stock options and restricted stock awards 176 1,045 227 972 Convertible preferred shares 34 37 35 38 Out-Performance Plan units — — 3 106 Denominator for diluted income per share – weighted average shares and assumed conversions 191,024 191,327 191,027 191,292 INCOME PER COMMON SHARE – BASIC: Income from continuing operations, net $ 1.69 $ 1.00 $ 15.22 $ 1.50 Net income per common share $ 1.69 $ 1.00 $ 15.22 $ 1.50 INCOME PER COMMON SHARE – DILUTED: Income from continuing operations, net $ 1.69 $ 1.00 $ 15.20 $ 1.49 Net income per common share $ 1.69 $ 1.00 $ 15.20 $ 1.49 ____________________ (1) The effect of dilutive securities excludes an aggregate of 13,431 and 12,372 weighted average common share equivalents, for the three months ended September 30, 2019 and 2018 , respectively, and 13,067 and 12,220 weighted average common share equivalents for the nine months ended September 30, 2019 and 2018 , respectively, as their effect was anti-dilutive. 20 . Income Per Share/Income Per Class A Unit - continued Vornado Realty L.P. The following table presents the calculations of (i) basic income per Class A unit which includes the weighted average number of Class A units outstanding without regard to dilutive potential Class A units and (ii) diluted income per Class A unit which includes the weighted average Class A unit and dilutive Class A unit equivalents. Unvested share-based payment awards that contain non-forfeitable rights to dividends, whether paid or unpaid, are accounted for as participating securities. Earnings are allocated to participating securities, which include Vornado restricted stock awards, OP Units and OPPs, based on the two-class method. Other potential dilutive share equivalents such as Vornado stock options, AO LTIP Units and Performance Conditioned AO LTIP Units are included in the computation of diluted income per share using the treasury stock method, while the dilutive effect of our Series A convertible preferred shares is reflected in diluted EPS by application of the if-converted method. (Amounts in thousands, except per unit amounts) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Numerator: Income from continuing operations, net of income attributable to noncontrolling interests in consolidated subsidiaries $ 358,083 $ 215,789 $ 3,139,626 $ 355,538 (Loss) income from discontinued operations (8 ) 61 (85 ) 381 Net income attributable to Vornado Realty L.P. 358,075 215,850 3,139,541 355,919 Preferred unit distributions (12,574 ) (12,582 ) (37,722 ) (38,248 ) Preferred unit issuance costs — — — (14,486 ) Net income attributable to Class A unitholders 345,501 203,268 3,101,819 303,185 Earnings allocated to unvested participating securities (2,449 ) (997 ) (14,807 ) (2,259 ) Numerator for basic income per Class A unit 343,052 202,271 3,087,012 300,926 Impact of assumed conversions: Convertible preferred unit distributions 14 15 43 47 Numerator for diluted income per Class A unit $ 343,066 $ 202,286 $ 3,087,055 $ 300,973 Denominator: Denominator for basic income per Class A unit – weighted average units 203,009 202,103 202,903 202,033 Effect of dilutive securities (1) : Vornado stock options, Vornado restricted stock awards, OP Units and OPPs 507 1,454 478 1,329 Convertible preferred units 34 37 35 38 Denominator for diluted income per Class A unit – weighted average units and assumed conversions 203,550 203,594 203,416 203,400 INCOME PER CLASS A UNIT – BASIC: Income from continuing operations, net $ 1.69 $ 1.00 $ 15.21 $ 1.49 Net income per Class A unit $ 1.69 $ 1.00 $ 15.21 $ 1.49 INCOME PER CLASS A UNIT – DILUTED: Income from continuing operations, net $ 1.69 $ 0.99 $ 15.18 $ 1.48 Net income per Class A unit $ 1.69 $ 0.99 $ 15.18 $ 1.48 ____________________ (1) The effect of dilutive securities excludes an aggregate of 905 and 105 weighted average Class A unit equivalents, for the three months ended September 30, 2019 and 2018 respectively, and 678 and 112 weighted average Class A unit equivalents for the nine months ended September 30, 2019 and 2018

Leases

Leases	9 Months Ended
	Sep. 30, 2019
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. Office building leases generally require tenants to reimburse us for operating costs and real estate taxes above their base year costs. Certain leases provide for pass-through to tenants for their share of real estate taxes, insurance and common area maintenance. Certain leases also require additional variable rent payments based on a percentage of the tenants’ sales. None of our tenants accounted for more than 10% of total revenues for the three and nine months ended September 30, 2019 and 2018 . We have elected to account for lease revenues (including base and variable rent) and the reimbursement of common area maintenance expenses as a single lease component recorded as "rental revenues" on our consolidated statements of income. As of September 30, 2019 , under ASC 842, future undiscounted cash flows under non-cancelable operating leases were as follows: (Amounts in thousands) As of September 30, 2019 For the remainder of 2019 $ 327,246 For the year ended December 31, 2020 1,263,818 2021 1,241,049 2022 1,174,436 2023 1,060,495 2024 885,891 Thereafter 4,336,649 As of December 31, 2018, under ASC 840, future undiscounted cash flows under non-cancelable operating leases were as follows: (Amounts in thousands) As of December 31, 2018 For the year ended December 31, 2019 $ 1,547,162 2020 1,510,097 2021 1,465,024 2022 1,407,615 2023 1,269,141 Thereafter 5,832,467 The components of lease revenues for the three and nine months ended September 30, 2019 were as follows: (Amounts in thousands) For the Three Months Ended September 30, 2019 For the Nine Months Ended September 30, 2019 Fixed lease revenues $ 351,426 $ 1,159,037 Variable lease revenues 62,917 151,844 Lease revenues $ 414,343 $ 1,310,881 21 . Leases - continued As lessee We have a number of ground leases which are classified as operating leases. On January 1, 2019, we recorded $526,866,000 of ROU assets and lease liabilities. Our ROU assets were reduced by $37,269,000 of accrued rent expense reclassified from “other liabilities” and $4,267,000 of acquired above-market lease liabilities, net, reclassified from “deferred revenue” and increased by $23,665,000 of acquired below-market lease assets, net, reclassified from “identified intangible assets, net of accumulated amortization” and $1,584,000 of prepaid lease payments reclassified from "other assets." As of September 30, 2019 , our ROU assets and lease liabilities were $370,604,000 and $490,978,000 , respectively. 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 credit rating and factor in various financing and asset specific adjustments to ensure the IBR is appropriate to the intended use of the underlying lease. As we did not elect to apply hindsight, lease term assumptions determined under ASC 840 were carried forward and applied in calculating the lease liabilities recorded under ASC 842. 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 corresponding lease liability and ROU asset. The following table sets forth information related to the measurement of our lease liabilities as of September 30, 2019 : (Amounts in thousands) As of September 30, 2019 Weighted average remaining lease term (in years) 40.89 Weighted average discount rate 4.85 % Cash paid for operating leases $ 20,289 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. Variable lease payments include percentage rent and rent resets based on an index or rate. The following table sets forth the details of rent expense for the three and nine months ended September 30, 2019 : (Amounts in thousands) For the Three Months Ended September 30, 2019 For the Nine Months Ended September 30, 2019 Fixed rent expense $ 7,237 $ 26,552 Variable rent expense 472 1,626 Rent expense $ 7,709 $ 28,178 As of September 30, 2019 , future lease payments under operating ground leases were as follows: (Amounts in thousands) As of September 30, 2019 For the remainder of 2019 $ 6,431 For the year ended December 31, 2020 28,739 2021 29,133 2022 30,033 2023 30,448 2024 30,882 Thereafter 1,046,349 Total undiscounted cash flows 1,202,015 Present value discount (711,037 ) Lease liabilities $ 490,978 21 . Leases - continued As lessee - continued As of December 31, 2018, under ASC 840, future lease payments under operating ground leases were as follows: (Amounts in thousands) As of December 31, 2018 For the year ended December 31, 2019 $ 46,147 2020 45,258 2021 42,600 2022 43,840 2023 44,747 Thereafter 1,612,627 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 do not give rise to remeasurement of the related right-of-use assets and lease liabilities. Fair market rent resets, which may be material, will be recognized in the periods in which they are incurred. Farley Office and Retail Building The future lease payments detailed previously exclude the ground and building lease at the Farley Office and Retail Building (the "Project"). We have a 95.0% ownership interest in a joint venture with the Related Companies ("Related") which was designated by Empire State Development ("ESD"), an entity of New York State, to develop the Project. The Project will include a new Moynihan Train Hall and approximately 845,000 rentable square feet of commercial space, comprised of approximately 725,000 square feet of office space and approximately 120,000 square feet of retail space. The joint venture has a 99 -year triple-net lease with ESD for the commercial space at the Project. The lease has not yet commenced since construction of the Project is ongoing. The joint venture has entered into a development agreement with ESD to build the adjacent Moynihan Train Hall, with Vornado and Related each guaranteeing the joint venture's obligations. The joint venture has entered into a design-build contract with Skanska Moynihan Train Hall Builders pursuant to which they will build the Moynihan Train Hall, thereby fulfilling all of the joint venture's obligations to ESD. The obligations of Skanska Moynihan Train Hall Builders have been bonded by Skanska USA and bear a full guaranty from Skanska AB. As a result of our involvement in the construction of the asset, we have been deemed the accounting owner of the property in accordance with ASC 842-40-55. Future undiscounted cash flows for the lease, including fixed payments in lieu of real estate taxes, as of September 30, 2019 were as follows: (Amounts in thousands) As of September 30, 2019 For the remainder of 2019 $ — For the year ended December 31, 2020 10,402 2021 7,229 2022 7,444 2023 7,809 2024 8,330 Thereafter 519,048
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. Office building leases generally require tenants to reimburse us for operating costs and real estate taxes above their base year costs. Certain leases provide for pass-through to tenants for their share of real estate taxes, insurance and common area maintenance. Certain leases also require additional variable rent payments based on a percentage of the tenants’ sales. None of our tenants accounted for more than 10% of total revenues for the three and nine months ended September 30, 2019 and 2018 . We have elected to account for lease revenues (including base and variable rent) and the reimbursement of common area maintenance expenses as a single lease component recorded as "rental revenues" on our consolidated statements of income. As of September 30, 2019 , under ASC 842, future undiscounted cash flows under non-cancelable operating leases were as follows: (Amounts in thousands) As of September 30, 2019 For the remainder of 2019 $ 327,246 For the year ended December 31, 2020 1,263,818 2021 1,241,049 2022 1,174,436 2023 1,060,495 2024 885,891 Thereafter 4,336,649 As of December 31, 2018, under ASC 840, future undiscounted cash flows under non-cancelable operating leases were as follows: (Amounts in thousands) As of December 31, 2018 For the year ended December 31, 2019 $ 1,547,162 2020 1,510,097 2021 1,465,024 2022 1,407,615 2023 1,269,141 Thereafter 5,832,467 The components of lease revenues for the three and nine months ended September 30, 2019 were as follows: (Amounts in thousands) For the Three Months Ended September 30, 2019 For the Nine Months Ended September 30, 2019 Fixed lease revenues $ 351,426 $ 1,159,037 Variable lease revenues 62,917 151,844 Lease revenues $ 414,343 $ 1,310,881 21 . Leases - continued As lessee We have a number of ground leases which are classified as operating leases. On January 1, 2019, we recorded $526,866,000 of ROU assets and lease liabilities. Our ROU assets were reduced by $37,269,000 of accrued rent expense reclassified from “other liabilities” and $4,267,000 of acquired above-market lease liabilities, net, reclassified from “deferred revenue” and increased by $23,665,000 of acquired below-market lease assets, net, reclassified from “identified intangible assets, net of accumulated amortization” and $1,584,000 of prepaid lease payments reclassified from "other assets." As of September 30, 2019 , our ROU assets and lease liabilities were $370,604,000 and $490,978,000 , respectively. 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 credit rating and factor in various financing and asset specific adjustments to ensure the IBR is appropriate to the intended use of the underlying lease. As we did not elect to apply hindsight, lease term assumptions determined under ASC 840 were carried forward and applied in calculating the lease liabilities recorded under ASC 842. 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 corresponding lease liability and ROU asset. The following table sets forth information related to the measurement of our lease liabilities as of September 30, 2019 : (Amounts in thousands) As of September 30, 2019 Weighted average remaining lease term (in years) 40.89 Weighted average discount rate 4.85 % Cash paid for operating leases $ 20,289 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. Variable lease payments include percentage rent and rent resets based on an index or rate. The following table sets forth the details of rent expense for the three and nine months ended September 30, 2019 : (Amounts in thousands) For the Three Months Ended September 30, 2019 For the Nine Months Ended September 30, 2019 Fixed rent expense $ 7,237 $ 26,552 Variable rent expense 472 1,626 Rent expense $ 7,709 $ 28,178 As of September 30, 2019 , future lease payments under operating ground leases were as follows: (Amounts in thousands) As of September 30, 2019 For the remainder of 2019 $ 6,431 For the year ended December 31, 2020 28,739 2021 29,133 2022 30,033 2023 30,448 2024 30,882 Thereafter 1,046,349 Total undiscounted cash flows 1,202,015 Present value discount (711,037 ) Lease liabilities $ 490,978 21 . Leases - continued As lessee - continued As of December 31, 2018, under ASC 840, future lease payments under operating ground leases were as follows: (Amounts in thousands) As of December 31, 2018 For the year ended December 31, 2019 $ 46,147 2020 45,258 2021 42,600 2022 43,840 2023 44,747 Thereafter 1,612,627 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 do not give rise to remeasurement of the related right-of-use assets and lease liabilities. Fair market rent resets, which may be material, will be recognized in the periods in which they are incurred. Farley Office and Retail Building The future lease payments detailed previously exclude the ground and building lease at the Farley Office and Retail Building (the "Project"). We have a 95.0% ownership interest in a joint venture with the Related Companies ("Related") which was designated by Empire State Development ("ESD"), an entity of New York State, to develop the Project. The Project will include a new Moynihan Train Hall and approximately 845,000 rentable square feet of commercial space, comprised of approximately 725,000 square feet of office space and approximately 120,000 square feet of retail space. The joint venture has a 99 -year triple-net lease with ESD for the commercial space at the Project. The lease has not yet commenced since construction of the Project is ongoing. The joint venture has entered into a development agreement with ESD to build the adjacent Moynihan Train Hall, with Vornado and Related each guaranteeing the joint venture's obligations. The joint venture has entered into a design-build contract with Skanska Moynihan Train Hall Builders pursuant to which they will build the Moynihan Train Hall, thereby fulfilling all of the joint venture's obligations to ESD. The obligations of Skanska Moynihan Train Hall Builders have been bonded by Skanska USA and bear a full guaranty from Skanska AB. As a result of our involvement in the construction of the asset, we have been deemed the accounting owner of the property in accordance with ASC 842-40-55. Future undiscounted cash flows for the lease, including fixed payments in lieu of real estate taxes, as of September 30, 2019 were as follows: (Amounts in thousands) As of September 30, 2019 For the remainder of 2019 $ — For the year ended December 31, 2020 10,402 2021 7,229 2022 7,444 2023 7,809 2024 8,330 Thereafter 519,048

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Insurance For our properties except the Farley Office and Retail Building, we maintain general liability insurance with limits of $300,000,000 per occurrence and per property, and 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. 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 $4.0 billion per occurrence and in the aggregate (as limited below), $760,000,000 for non-certified acts of terrorism, and $2.0 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 Program Reauthorization Act of 2015, which expires in December 2020. 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 $1,456,071 and 19% 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. For the Farley Office and Retail Building, we maintain general liability insurance with limits of $100,000,000 per occurrence, and builder’s risk insurance including coverage for existing property and development activities of $2.8 billion per occurrence and in the aggregate. We maintain coverage for certified and non-certified terrorism acts with limits of $1.0 billion per occurrence and in the aggregate. We continue to monitor the state of the insurance market and the scope and cost of coverage for acts of terrorism. However, we cannot anticipate what coverage will be available on commercially reasonable terms in the future. We are responsible 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 a reasonable cost 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. 22 . Commitments and Contingencies - continued 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 cost to us. Our mortgage loans are non-recourse to us, except for the mortgage loans secured by 640 Fifth Avenue, 7 West 34th Street and 435 Seventh Avenue, which we guaranteed and therefore are part of our tax basis. In certain cases, we have provided guarantees or master leased tenant space. These guarantees and master leases terminate either upon the satisfaction of specified circumstances or repayment of the underlying loans. As of September 30, 2019 , the aggregate dollar amount of these guarantees and master leases is approximately $978,000,000 . As of September 30, 2019 , $15,880,000 of letters of credit was outstanding under one of our unsecured revolving credit facilities. Our unsecured revolving credit facilities contain financial covenants that require us to maintain minimum interest rate coverage and maximum debt to market capitalization ratios and provide for higher interest rates in the event of a decline in our ratings below Baa3/BBB. Our unsecured revolving credit facilities 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. The joint venture in which we own a 95.0% ownership interest was designated by ESD, an entity of New York State, to develop the Farley Office and Retail Building. The joint venture entered into a development agreement with ESD and a design-build contract with Skanska Moynihan Train Hall Builders. Under the development agreement with ESD, the joint venture is obligated to build the Moynihan Train Hall, with Vornado and Related each guaranteeing the joint venture’s obligations. Under the design-build agreement, Skanska Moynihan Train Hall Builders is obligated to fulfill all of the joint venture’s obligations. The obligations of Skanska Moynihan Train Hall Builders have been bonded by Skanska USA and bear a full guaranty from Skanska AB. As of September 30, 2019 , we expect to fund additional capital to certain of our partially owned entities aggregating approximately $15,400,000 . As of September 30, 2019 , we have construction commitments aggregating approximately $746,000,000 .

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information We operate in the following reportable segments, New York and Other, which is based on how we manage our business. Net Operating Income (“NOI”) represents total revenues less operating expenses. We consider NOI 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, we utilize this measure to make investment decisions as well as to compare the performance of our assets to that of our peers. NOI should not be considered a substitute for net income. NOI may not be comparable to similarly titled measures employed by other companies. Below is a summary of NOI at share and NOI at share - cash basis by segment for the three and nine months ended September 30, 2019 and 2018 . (Amounts in thousands) For the Three Months Ended September 30, 2019 Total New York Other Total revenues $ 465,961 $ 380,568 $ 85,393 Operating expenses 226,359 188,159 38,200 NOI - consolidated 239,602 192,409 47,193 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (18,096 ) (9,574 ) (8,522 ) Add: NOI from partially owned entities 86,024 82,649 3,375 NOI at share 307,530 265,484 42,046 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other (4,037 ) (5,560 ) 1,523 NOI at share - cash basis $ 303,493 $ 259,924 $ 43,569 (Amounts in thousands) For the Three Months Ended September 30, 2018 Total New York Other Total revenues $ 542,048 $ 462,446 $ 79,602 Operating expenses 235,575 200,949 34,626 NOI - consolidated 306,473 261,497 44,976 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (16,943 ) (11,348 ) (5,595 ) Add: NOI from partially owned entities 60,094 47,179 12,915 NOI at share 349,624 297,328 52,296 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other (8,743 ) (9,125 ) 382 NOI at share - cash basis $ 340,881 $ 288,203 $ 52,678 (Amounts in thousands) For the Nine Months Ended September 30, 2019 Total New York Other Total revenues $ 1,463,732 $ 1,200,234 $ 263,498 Operating expenses 694,006 574,073 119,933 NOI - consolidated 769,726 626,161 143,565 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (51,915 ) (31,011 ) (20,904 ) Add: NOI from partially owned entities 236,400 211,394 25,006 NOI at share 954,211 806,544 147,667 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net and other 530 (3,741 ) 4,271 NOI at share - cash basis $ 954,741 $ 802,803 $ 151,938 (Amounts in thousands) For the Nine Months Ended September 30, 2018 Total New York Other Total revenues $ 1,620,303 $ 1,369,482 $ 250,821 Operating expenses 709,158 599,768 109,390 NOI - consolidated 911,145 769,714 141,431 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (51,415 ) (34,653 ) (16,762 ) Add: NOI from partially owned entities 193,359 146,730 46,629 NOI at share 1,053,089 881,791 171,298 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net and other (39,172 ) (39,161 ) (11 ) NOI at share - cash basis $ 1,013,917 $ 842,630 $ 171,287 23 . Segment Information - continued Below is a reconciliation of net income, the most directly comparable GAAP financial measure, to NOI at share and NOI at share - cash basis for the three and nine months ended September 30, 2019 and 2018 . (Amounts in thousands) For the Three Months Ended For the Nine Months Ended 2019 2018 2019 2018 Net income $ 363,849 $ 219,162 $ 3,173,586 $ 324,782 Depreciation and amortization expense 96,437 113,169 326,181 333,701 General and administrative expense 33,237 31,977 130,129 108,937 Transaction related costs, impairment losses and other 1,576 2,510 103,315 16,683 Income from partially owned entities (25,946 ) (7,206 ) (56,139 ) (6,059 ) (Income) loss from real estate fund investments (2,190 ) 190 13,780 37,973 Interest and other investment income, net (3,045 ) (2,893 ) (15,930 ) (9,401 ) Interest and debt expense 61,448 88,951 226,940 264,774 Net gain on transfer to Fifth Avenue and Times Square JV — — (2,571,099 ) — Net gains on disposition of wholly owned and partially owned assets (309,657 ) (141,269 ) (641,664 ) (164,828 ) Income tax expense 23,885 1,943 80,542 4,964 Loss (income) from discontinued operations 8 (61 ) 85 (381 ) NOI from partially owned entities 86,024 60,094 236,400 193,359 NOI attributable to noncontrolling interests in consolidated subsidiaries (18,096 ) (16,943 ) (51,915 ) (51,415 ) NOI at share 307,530 349,624 954,211 1,053,089 Non cash adjustments for straight-line rents, amortization of acquired below-market leases, net and other (4,037 ) (8,743 ) 530 (39,172 ) NOI at share - cash basis $ 303,493 $ 340,881 $ 954,741 $ 1,013,917

Recently Issued Accounting Li_2

Recently Issued Accounting Literature (Policies)	9 Months Ended
	Sep. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Basis of Presentation	The accompanying consolidated financial statements are unaudited and include the accounts of Vornado and the Operating Partnership and their consolidated subsidiaries. All inter-company amounts have been eliminated and all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. These condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 , as filed with the SEC. We have made estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The results of operations for the three and nine months ended September 30, 2019 are not necessarily indicative of the operating results for the full year. Certain prior year balances have been reclassified in order to conform to the current period presentation. For the three and nine months ended September 30, 2018, "property rentals" of $437,560,000 and $1,322,265,000 , respectively, and "tenant expense reimbursements" of $66,387,000 and $185,009,000 , respectively, were grouped into "rental revenues" on our consolidated statements of income in accordance with Accounting Standards Codification ("ASC") Topic 205, Presentation of Financial Statements.
Recently Issued Accounting Literature	In February 2016, the Financial Accounting Standards Board ("FASB") issued an update (“ASU 2016-02”) establishing ASC Topic 842, Leases ("ASC 842"), as amended by subsequent ASUs on the topic, which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. ASU 2016-02 requires lessees to apply a two-method approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase. Lessees are required to record a right-of-use ("ROU") asset and a lease liability for all leases with a term of greater than 12 months. Lease liabilities equal the present value of future lease payments. Right-of-use assets equal the lease liabilities adjusted for accrued rent expense, initial direct costs, lease incentives and prepaid lease payments. Leases with a term of 12 months or less will be accounted for similar to the previously existing lease guidance under ASC Topic 840, Leases ("ASC 840"). Lease expense is recognized based on the effective interest method for finance leases or on a straight-line basis for operating leases. The accounting applied by the lessor is largely unchanged from that applied under ASC 840. We adopted this standard effective January 1, 2019. We have completed our evaluation of the overall impact of the adoption of ASU 2016-02 on our consolidated financial statements and accounting policies. In transitioning to ASC 842, we elected to use the practical expedient package available to us and did not elect to use hindsight. As of January 1, 2019, we had 12 ground leases classified as operating leases, for which we were required to record a right-of-use asset and a lease liability equal to the present value of the future lease payments. We will continue to recognize expense on a straight-line basis for these leases. We recorded an aggregate of $526,866,000 of ROU assets and a corresponding $526,866,000 of lease liabilities as a result of the adoption of this standard (see Note 21 - Leases ). 3 . Recently Issued Accounting Literature - continued Under ASU 2016-02, initial direct costs for both lessees and lessors would include only those costs that are incremental to the arrangement and would not have been incurred if the lease had not been obtained. As a result, beginning January 1, 2019, we no longer capitalize internal leasing costs and instead expense these costs as incurred, as a component of "general and administrative" expense on our consolidated statements of income. For the three and nine months ended September 30, 2018, we capitalized $1,444,000 and $3,883,000 , respectively, of internal leasing costs. In addition, we have made changes to our provision policy for lease receivables. Under ASC 842, we must assess on an individual lease basis whether it is probable that we will collect the future lease payments. We consider the tenant's payment history and current credit status when assessing collectability. When collectability is not deemed probable we write-off the tenant's receivables, including straight-line rent receivable, and limit lease income to cash received. Changes to the collectability of our operating leases are recorded as adjustments to "rental revenues" on our consolidated statements of income, which resulted in a decrease in income of $1,106,000 and $16,488,000 for the three and nine months ended September 30, 2019, respectively. In February 2016, the FASB issued an update (“ASU 2016-13”) Measurement of Credit Losses on Financial Instruments establishing ASC Topic 326, Financial Instruments - Credit Losses , as amended by subsequent ASUs on the topic. ASU 2016-13 changes how entities will account for credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The guidance replaces the current “incurred loss” model with an “expected loss” model that requires consideration of a broader range of information to estimate expected credit losses over the lifetime of the financial asset. ASU 2016-13 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2019. We are currently evaluating the impact of the adoption of ASU 2016-13 on our consolidated financial statements, but do not believe the adoption of this standard will have a material impact on our consolidated financial statements. In August 2018, the FASB issued an update (“ASU 2018-13”) Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement to ASC Topic 820, Fair Value Measurement (“ASC 820”). ASU 2018-13 modifies the disclosure requirements for fair value measurements by removing, modifying, and/or adding certain disclosures. ASU 2018-13 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2019. We elected to early adopt ASU 2018-13 effective January 1, 2019. The adoption of this update did not have a material impact on our consolidated financial statements and disclosures. In October 2018, the FASB issued an update ("ASU 2018-16") Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes to ASC Topic 815, Derivatives and Hedging . ASU 2018-16 expands the list of U.S. benchmark interest rates permitted in the application of hedge accounting by adding the OIS rate based on SOFR as an eligible benchmark interest rate. ASU 2018-16 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2018. We adopted this update effective January 1, 2019. The adoption of this update did not have an impact on our consolidated financial statements.
Revenue	Our revenues primarily consist of rental revenues and fee and other income. We operate in two reportable segments: New York and Other, with a significant portion of our revenues included in the New York segment. We have the following revenue sources and revenue recognition policies: • Rental revenues include revenues from the leasing of space at our properties to tenants, lease termination income, revenues from the Hotel Pennsylvania, trade shows and tenant services. ◦ Revenues from the leasing of space at our properties to tenants includes (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 842. Lease revenues and reimbursement of common area maintenance, real estate taxes and insurance are presented on the following page as "property rentals." Revenues derived from fixed lease payments are recognized on a straight-line basis over the non-cancelable period of the lease, together with renewal options that are reasonably certain of being exercised. We commence rental revenue recognition when the underlying asset is available for use by the lessee. Revenue derived from the reimbursement of real estate taxes, insurance expenses and common area maintenance expenses are generally recognized in the same period as the related expenses are incurred. ◦ Lease termination income is recognized immediately if a tenant vacates or is recognized on a straight-line basis over the shortened remaining lease term in accordance with ASC 842. ◦ Hotel revenue arising from the operation of Hotel Pennsylvania consists of room revenue, food and beverage revenue, and banquet revenue. Room revenue is recognized when the rooms are made available for the guest, in accordance with ASC 842. ◦ Trade shows revenue arising from the operation of trade shows is primarily booth rentals. This revenue is recognized upon the occurrence of the trade shows when the trade show booths are made available for use by the exhibitors, in accordance with ASC 842. ◦ Tenant services revenue arises from sub-metered electric, elevator, trash removal and other services provided to tenants at their request. This revenue is recognized as the services are transferred in accordance with ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"). • Fee and other income includes management, leasing and other revenue arising from contractual agreements with third parties or with partially owned entities and includes Building Maintenance Service (“BMS”) cleaning, engineering and security services. This revenue is recognized as the services are transferred in accordance with ASC 606.
Real Estate Fund Investments	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. We are also the general partner and investment manager of the Crowne Plaza Times Square Hotel Joint Venture (the “Crowne Plaza Joint Venture”) and own a 57.1% interest in the joint venture which owns the 24.7% interest in the Crowne Plaza Times Square Hotel not owned by the Fund. The Crowne Plaza Joint Venture is also accounted for under ASC 946 and we consolidate the accounts of the joint venture into our consolidated financial statements, retaining the fair value basis of accounting.
Redeemable Noncontrolling Interests	Redeemable noncontrolling interests on Vornado’s consolidated balance sheets and redeemable partnership units on the consolidated balance sheets of the Operating Partnership 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. Redeemable noncontrolling interests/redeemable 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
Fair Value Measurement	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; 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)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Summary of Revenue Sources by Segment	Below is a summary of our revenues by segment. Additional financial information related to these reportable segments for the three and nine months ended September 30, 2019 and 2018 is set forth in Note 23 - Segment Information . (Amounts in thousands) For the Three Months Ended September 30, 2019 For the Three Months Ended September 30, 2018 Total New York Other Total New York Other Property rentals $ 381,740 $ 308,933 $ 72,807 $ 453,789 $ 387,300 $ 66,489 Hotel Pennsylvania 24,499 24,499 — 26,088 26,088 — Trade shows 8,104 — 8,104 8,443 — 8,443 Lease revenues 414,343 333,432 80,911 488,320 413,388 74,932 Tenant services 13,295 9,342 3,953 15,627 11,696 3,931 Rental revenues 427,638 342,774 84,864 503,947 425,084 78,863 BMS cleaning fees 30,677 32,787 (2,110 ) (1) 28,873 31,328 (2,455 ) (1) Management and leasing fees 3,326 3,746 (420 ) 4,734 4,439 295 Other income 4,320 1,261 3,059 4,494 1,595 2,899 Fee and other income 38,323 37,794 529 38,101 37,362 739 Total revenues $ 465,961 $ 380,568 $ 85,393 $ 542,048 $ 462,446 $ 79,602 ____________________ (1) Represents the elimination of theMART and 555 California Street BMS cleaning fees which are included as income in the New York segment. (Amounts in thousands) For the Nine Months Ended September 30, 2019 For the Nine Months Ended September 30, 2018 Total New York Other Total New York Other Property rentals $ 1,211,641 $ 995,661 $ 215,980 $ 1,358,932 $ 1,160,140 $ 198,792 Hotel Pennsylvania 62,633 62,633 — 67,842 67,842 — Trade shows 36,607 — 36,607 38,903 — 38,903 Lease revenues 1,310,881 1,058,294 252,587 1,465,677 1,227,982 237,695 Tenant services 37,933 27,904 10,029 41,597 31,854 9,743 Rental revenues 1,348,814 1,086,198 262,616 1,507,274 1,259,836 247,438 BMS cleaning fees 93,032 99,488 (6,456 ) (1) 88,095 94,888 (6,793 ) (1) Management and leasing fees 10,063 10,469 (406 ) 10,205 9,384 821 Other income 11,823 4,079 7,744 14,729 5,374 9,355 Fee and other income 114,918 114,036 882 113,029 109,646 3,383 Total revenues $ 1,463,732 $ 1,200,234 $ 263,498 $ 1,620,303 $ 1,369,482 $ 250,821 ____________________ (1) Represents the elimination of theMART and 555 California Street BMS cleaning fees which are included as income in the New York segment.

Real Estate Fund Investments (T

Real Estate Fund Investments (Tables)	9 Months Ended
	Sep. 30, 2019
Real Estate Fund Investments [Abstract]
Schedule Of Income And Loss From The Fund	Below is a summary of income (loss) from the Fund and the Crowne Plaza Joint Venture for the three and nine months ended September 30, 2019 and 2018 . (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Net investment income $ 2,190 $ 3,093 $ 2,382 $ 6,366 Net unrealized loss on held investments — (3,283 ) (16,162 ) (32,796 ) Net realized loss on exited investments — — — (913 ) New York City real property transfer tax (the "Transfer Tax") — — — (10,630 ) (1) Income (loss) from real estate fund investments 2,190 (190 ) (13,780 ) (37,973 ) Less (income) loss attributable to noncontrolling interests in consolidated subsidiaries (735 ) (558 ) (8,427 ) 34,338 Income (loss) from real estate fund investments attributable to the Operating Partnership 1,455 (748 ) (22,207 ) (3,635 ) Less (income) loss attributable to noncontrolling interests in the Operating Partnership (95 ) 46 1,403 224 Income (loss) from real estate fund investments attributable to Vornado $ 1,360 $ (702 ) $ (20,804 ) $ (3,411 ) ____________________ (1)

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2019
Marketable Securities [Abstract]
Unrealized Gain (Loss) on Investments	The table below summarizes the changes to our marketable securities portfolio for the nine months ended September 30, 2019 . (Amounts in thousands) For the Nine Months Ended September 30, 2019 Total Lexington Realty Trust PREIT Other Beginning balance, December 31, 2018 $ 152,198 $ 151,630 $ — $ 568 Sale of marketable securities (168,314 ) (167,698 ) — (616 ) Transfer of PREIT investment balance at Conversion Date 54,962 — 54,962 — (Decrease) increase in fair value of marketable securities (1) (3,095 ) 16,068 (19,211 ) 48 Ending balance, September 30, 2019 $ 35,751 $ — $ 35,751 $ — ____________________ (1) Included in “interest and other investment income, net” on our consolidated statements of income (see Note 18 - Interest and Other Investment Income, Net ).

Investments in Partially Owne_2

Investments in Partially Owned Entities (Tables)	9 Months Ended
	Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Below is a schedule summarizing our investments in partially owned entities. (Amounts in thousands) Percentage Ownership at Balance as of September 30, 2019 December 31, 2018 Investments: Fifth Avenue and Times Square JV (see page 30 for details) 51.5% $ 3,308,363 $ — Partially owned office buildings/land (1) Various 467,787 499,005 Alexander’s 32.4% 101,228 107,983 PREIT (2) N/A — 59,491 UE (3) N/A — 45,344 Other investments (4) Various 146,442 146,290 $ 4,023,820 $ 858,113 Investments in partially owned entities included in other liabilities (5) : 330 Madison Avenue (6) N/A $ — $ (58,117 ) 7 West 34th Street 53.0% (52,222 ) (51,579 ) 85 Tenth Avenue 49.9% (5,814 ) — $ (58,036 ) $ (109,696 ) ____________________ (1) Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 512 West 22nd Street, 61 Ninth Avenue and others. (2) On March 12, 2019, we converted all of our PREIT operating partnership units into common shares and began accounting for our investment as a marketable security in accordance with ASC 321 (see Note 6 - Marketable Securities ). (3) Sold on March 4, 2019 (see page 31 for details). (4) Includes interests in Independence Plaza, Fashion Centre Mall/Washington Tower, Rosslyn Plaza, 50-70 West 93rd Street and others. (5) Our negative basis results from distributions in excess of our investment. (6) Sold on July 11, 2019 (see page 31 for details). 7 . Investments in Partially Owned Entities - continued Below is a schedule of income from partially owned entities. (Amounts in thousands) Percentage For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Our share of net income (loss): Fifth Avenue and Times Square JV (see page 30 for details): Equity in net income 51.5% $ 9,891 $ — $ 21,108 $ — Return on preferred equity, net of our share of the expense 9,545 — 18,131 — 19,436 — 39,239 — Alexander's (see page 31 for details): Equity in net income (1) 32.4% 5,393 4,278 14,707 7,215 Management, leasing and development fees 1,299 1,149 3,478 3,378 6,692 5,427 18,185 10,593 Partially owned office buildings (2) Various (186 ) 735 (1,531 ) (1,546 ) Other investments (3) Various 4 1,044 246 (2,988 ) $ 25,946 $ 7,206 $ 56,139 $ 6,059 ____________________ (1) The nine months ended September 30, 2018 includes our $7,708 share of Alexander's disputed additional Transfer Tax related to the November 2012 sale of Kings Plaza Regional Shopping Center. Alexander's recorded this expense based on the precedent established by the Tax Tribunal's decision regarding One Park Avenue (see Note 5 - Real Estate Fund Investments ). (2) Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 7 West 34th Street, 330 Madison Avenue (sold on July 11, 2019), 512 West 22nd Street, 61 Ninth Avenue, 85 Tenth Avenue and others. The nine months ended September 30, 2019 includes a $1,079 reduction in income from the non-cash write-off of straight-line rent receivable related to The Four Seasons Restaurant at 280 Park Avenue. The nine months ended September 30, 2018 includes our $4,978 share of disputed additional Transfer Tax related to the March 2011 acquisition of One Park Avenue (see Note 5 - Real Estate Fund Investments ). (3) Includes interests in Independence Plaza, Fashion Centre Mall/Washington Tower, Rosslyn Plaza, 50-70 West 93rd Street, 666 Fifth Avenue Office Condominium (sold on August 3, 2018), UE (sold on March 4, 2019), PREIT (accounted as a marketable security from March 12, 2019) and others.

Identified Intangible Assets _2

Identified Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Finite-Lived Intangible Assets and Liabilities
Schedule of Identified Intangible Assets and Intangible Liabilities	The following summarizes our identified intangible assets (primarily above-market leases) and liabilities (primarily acquired below-market leases) as of September 30, 2019 and December 31, 2018 . (Amounts in thousands) Balance as of September 30, 2019 December 31, 2018 Identified intangible assets: Gross amount $ 130,396 $ 308,895 Accumulated amortization (99,623 ) (172,114 ) Total, net $ 30,773 $ 136,781 Identified intangible liabilities (included in deferred revenue): Gross amount $ 321,838 $ 503,373 Accumulated amortization (265,388 ) (341,779 ) Total, net $ 56,450 $ 161,594
Below Market Leases Net Of Above Market Leases
Finite-Lived Intangible Assets and Liabilities
Schedule of future amortization expense of intangible assets	Estimated annual amortization of acquired below-market leases, net of acquired above-market leases, for each of the five succeeding years commencing January 1, 2020 is as follows: (Amounts in thousands) 2020 $ 16,643 2021 11,934 2022 8,792 2023 6,261 2024 2,518
Other Identified Intangible Assets
Finite-Lived Intangible Assets and Liabilities
Schedule of future amortization expense of intangible assets	Estimated annual amortization of all other identified intangible assets including acquired in-place leases for each of the five succeeding years commencing January 1, 2020 is as follows: (Amounts in thousands) 2020 $ 6,300 2021 4,763 2022 3,050 2023 2,964 2024 2,351

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The following is a summary of our debt: (Amounts in thousands) Weighted Average Interest Rate at Balance as of September 30, 2019 December 31, 2018 Mortgages Payable: Fixed rate 3.52% $ 4,605,475 $ 5,003,465 Variable rate 3.65% 1,068,196 3,212,382 Total 3.55% 5,673,671 8,215,847 Deferred financing costs, net and other (32,776 ) (48,049 ) Total, net $ 5,640,895 $ 8,167,798 Unsecured Debt: Senior unsecured notes 3.50% $ 450,000 $ 850,000 Deferred financing costs, net and other (4,332 ) (5,998 ) Senior unsecured notes, net 445,668 844,002 Unsecured term loan 3.87% 750,000 750,000 Deferred financing costs, net and other (4,415 ) (5,179 ) Unsecured term loan, net 745,585 744,821 Unsecured revolving credit facilities 2.96% 655,000 80,000 Total, net $ 1,846,253 $ 1,668,823

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests/Redeemable Partnership Units (Tables)	9 Months Ended
	Sep. 30, 2019
Noncontrolling Interest [Abstract]
Summary Of Activity Of Redeemable Noncontrolling Interests	(Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Beginning balance $ 862,062 $ 938,041 $ 783,562 $ 984,937 Net income 22,637 12,671 197,354 18,992 Other comprehensive (loss) income (650 ) 54 (3,732 ) 913 Distributions (8,852 ) (7,976 ) (25,788 ) (23,867 ) Redemption of Class A units for Vornado common shares, at redemption value (1,999 ) (1,843 ) (8,128 ) (14,089 ) Adjustments to carry redeemable Class A units at redemption value (24,228 ) (21,520 ) (123,635 ) (57,970 ) Other, net 5,363 5,155 34,700 15,666 Ending balance $ 854,333 $ 924,582 $ 854,333 $ 924,582

Shareholders' Equity_Partners_2

Shareholders' Equity/Partners' Capital (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of Dividends	The following table sets forth the details of our dividends/distributions per common share/Class A unit and dividends/distributions per share/unit for each class of preferred shares/units of beneficial interest for the three and nine months ended September 30, 2019 and 2018 . (Per share/unit) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Shares/Units: Common shares/Class A units held by Vornado: authorized 250,000,000 shares/units $ 0.66 $ 0.63 $ 1.98 $ 1.89 Convertible Preferred (1) : 6.5% Series A: authorized 83,977 shares/units (2) 0.8125 0.8125 2.4375 2.4375 Cumulative Redeemable Preferred (1) : 5.70% Series K: authorized 12,000,000 shares/units (3) 0.3563 0.3563 1.0689 1.0689 5.40% Series L: authorized 12,000,000 shares/units (3) 0.3375 0.3375 1.0125 1.0125 5.25% Series M: authorized 12,780,000 shares/units (3) 0.3281 0.3281 0.9843 0.9843 ____________________ (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) 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.
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables set forth the changes in accumulated other comprehensive (loss) income by component. (Amounts in thousands) Total Marketable securities Pro rata share of nonconsolidated subsidiaries' OCI Interest rate swaps Other For the three months ended September 30, 2019: Balance, June 30, 2019 $ (38,066 ) $ — $ (18 ) $ (33,785 ) $ (4,263 ) Net current period other comprehensive (loss) income (9,293 ) — 11 (9,953 ) 649 Balance, September 30, 2019 $ (47,359 ) $ — $ (7 ) $ (43,738 ) $ (3,614 ) For the three months ended September 30, 2018: Balance, June 30, 2018 $ 33,351 $ — $ 2,834 $ 39,559 $ (9,042 ) Net current period other comprehensive income (loss) 822 — 253 623 (54 ) Balance, September 30, 2018 $ 34,173 $ — $ 3,087 $ 40,182 $ (9,096 ) For the nine months ended September 30, 2019: Balance, December 31, 2018 $ 7,664 $ — $ 3,253 $ 11,759 $ (7,348 ) Net current period other comprehensive (loss) income (52,712 ) — (949 ) (55,497 ) 3,734 Amount reclassified from AOCI (1) (2,311 ) — (2,311 ) — — Balance, September 30, 2019 $ (47,359 ) $ — $ (7 ) $ (43,738 ) $ (3,614 ) For the nine months ended September 30, 2018: Balance, December 31, 2017 $ 128,682 $ 109,554 $ 3,769 $ 23,542 $ (8,183 ) Cumulative effect of accounting change (108,374 ) (109,554 ) (1,671 ) 2,851 — Net current period other comprehensive income (loss) 13,865 — 989 13,789 (913 ) Balance, September 30, 2018 $ 34,173 $ — $ 3,087 $ 40,182 $ (9,096 ) ____________________ (1) Amount reclassified related to the conversion of our PREIT operating partnership units into common shares.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Fair value, measurement inputs, disclosure	The tables below aggregate the fair values of these financial assets and liabilities by their levels in the fair value hierarchy as of September 30, 2019 and December 31, 2018 , respectively. (Amounts in thousands) As of September 30, 2019 Total Level 1 Level 2 Level 3 Marketable securities $ 35,751 $ 35,751 $ — $ — Real estate fund investments 306,596 — — 306,596 Deferred compensation plan assets ($18,079 included in restricted cash and $81,599 in other assets) 99,678 72,501 — 27,177 Interest rate swaps (included in other assets) 5,901 — 5,901 — Total assets $ 447,926 $ 108,252 $ 5,901 $ 333,773 Mandatorily redeemable instruments (included in other liabilities) $ 50,561 $ 50,561 $ — $ — Interest rate swaps (included in other liabilities) 49,539 — 49,539 — Total liabilities $ 100,100 $ 50,561 $ 49,539 $ — (Amounts in thousands) As of December 31, 2018 Total Level 1 Level 2 Level 3 Marketable securities $ 152,198 $ 152,198 $ — $ — Real estate fund investments 318,758 — — 318,758 Deferred compensation plan assets ($8,402 included in restricted cash and $88,122 in other assets) 96,524 58,716 — 37,808 Interest rate swaps (included in other assets) 27,033 — 27,033 — Total assets $ 594,513 $ 210,914 $ 27,033 $ 356,566 Mandatorily redeemable instruments (included in other liabilities) $ 50,561 $ 50,561 $ — $ — Interest rate swaps (included in other liabilities) 15,236 — 15,236 — Total liabilities $ 65,797 $ 50,561 $ 15,236 $ —
Fair value measurements, nonrecurring	(Amounts in thousands) As of December 31, 2018 Total Level 1 Level 2 Level 3 Real estate assets $ 14,971 $ — $ — $ 14,971
Schedule of carrying amounts and fair values of financial instruments	The table below summarizes the carrying amounts and fair value of these financial instruments as of September 30, 2019 and December 31, 2018 . (Amounts in thousands) As of September 30, 2019 As of December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Cash equivalents $ 979,060 $ 979,000 $ 261,981 $ 262,000 Debt: Mortgages payable $ 5,673,671 $ 5,725,000 $ 8,215,847 $ 8,179,000 Senior unsecured notes 450,000 465,000 850,000 847,000 Unsecured term loan 750,000 750,000 750,000 750,000 Unsecured revolving credit facilities 655,000 655,000 80,000 80,000 Total $ 7,528,671 (1) $ 7,595,000 $ 9,895,847 (1) $ 9,856,000 ____________________ (1) Excludes $41,523 and $59,226 of deferred financing costs, net and other as of September 30, 2019 and December 31, 2018 , respectively.
Real estate fund investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Fair value inputs quantitative information	Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of these real estate fund investments as of September 30, 2019 and December 31, 2018 . Range Weighted Average (based on fair value of investments) Unobservable Quantitative Input September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Discount rates 10.0% to 15.0% 10.0% to 15.0% 13.5% 13.4% Terminal capitalization rates 5.1% to 7.6% 5.4% to 7.7% 5.5% 5.7%
Summary of changes in level 3 plan assets	The table below summarizes the changes in the fair value of real estate fund investments that are classified as Level 3, for the three and nine months ended September 30, 2019 and 2018 . (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Beginning balance $ 306,596 $ 373,039 $ 318,758 $ 354,804 Purchases/additional fundings — — 4,000 68,950 Net unrealized loss on held investments — (3,283 ) (16,162 ) (32,796 ) Dispositions — — — (20,291 ) Net realized loss on exited investments — — — (913 ) Other, net — 11 — 13 Ending balance $ 306,596 $ 369,767 $ 306,596 $ 369,767
Deferred Compensation Plan Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Changes in the 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, for the three and nine months ended September 30, 2019 and 2018 . (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Beginning balance $ 21,991 $ 39,870 $ 37,808 $ 40,128 Sales (652 ) (3,304 ) (20,807 ) (6,813 ) Purchases 5,437 1,576 8,314 3,209 Realized and unrealized gains 116 180 854 892 Other, net 285 466 1,008 1,372 Ending balance $ 27,177 $ 38,788 $ 27,177 $ 38,788

Transaction Related Costs, Im_2

Transaction Related Costs, Impairment Losses and Other (Tables)	9 Months Ended
	Sep. 30, 2019
Transaction Related Costs, Impairment Losses and Other [Abstract]
Schedule of Transaction Related Costs, Impairment Losses and Other	The following table sets forth the details of transaction related costs, impairment losses and other: (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Transaction related costs $ 1,576 $ 2,510 $ 1,955 $ 3,580 Non-cash impairment losses, substantially 608 Fifth Avenue (see below) — — 101,360 — Transfer tax (1) — — — 13,103 $ 1,576 $ 2,510 $ 103,315 $ 16,683 ____________________ (1) Disputed additional Transfer Tax recorded in the first quarter 2018 related to the December 2012 acquisition of Independence Plaza. The joint venture, in which we have a 50.1% economic interest, that owns Independence Plaza recorded this expense based on the precedent established by the Tax Tribunal's decision regarding One Park Avenue (see Note 5 - Real Estate Fund Investments ).

Interest and Other Investment_2

Interest and Other Investment Income, Net (Tables)	9 Months Ended
	Sep. 30, 2019
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 Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 (Decrease) increase in fair value of marketable securities: PREIT (see page 29 for details) $ (4,875 ) $ — $ (19,211 ) $ — Lexington (see page 29 for details) — (7,942 ) 16,068 (24,934 ) Other 7 243 48 133 (4,868 ) (7,699 ) (3,095 ) (24,801 ) Interest on cash and cash equivalents and restricted cash 4,060 4,306 8,753 12,370 Interest on loans receivable (1) 1,604 2,004 4,845 8,952 Dividends on marketable securities 1,312 3,354 2,625 10,060 Other, net 937 928 2,802 2,820 $ 3,045 $ 2,893 $ 15,930 $ 9,401 ____________________ (1) The three and nine months ended September 30, 2018 include $1,250 and $6,707 , respectively, of profit participation in connection with an investment in a mezzanine loan which was previously repaid to us.

Interest and Debt Expense (Tabl

Interest and Debt Expense (Tables)	9 Months Ended
	Sep. 30, 2019
Interest and Debt Expense [Abstract]
Interest And Debt Expense	The following table sets forth the details of interest and debt expense: (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Interest expense (1) $ 72,345 $ 98,841 $ 266,597 $ 290,006 Capitalized interest and debt expense (16,047 ) (18,238 ) (59,184 ) (49,718 ) Amortization of deferred financing costs 5,150 8,348 19,527 24,486 $ 61,448 $ 88,951 $ 226,940 $ 264,774 ____________________ (1) The nine months ended September 30, 2019 includes $22,540 debt prepayment costs in connection with the redemption of $400,000 5.00% senior unsecured notes which were scheduled to mature in January 2022.

Income Per Share_Income Per C_2

Income Per Share/Income Per Class A Unit (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings per share
Schedule Of Earnings Per Share Basic And Diluted	Vornado Realty Trust The following table presents the calculations of (i) basic income per common share which includes the weighted average number of common shares outstanding without regard to dilutive potential common shares and (ii) diluted income per common share which includes the weighted average common shares and dilutive share equivalents. Unvested share-based payment awards that contain non-forfeitable rights to dividends, whether paid or unpaid, are accounted for as participating securities. Earnings are allocated to participating securities, which include restricted stock awards, based on the two-class method. Other potential dilutive share equivalents such as our employee stock options, OP Units, OPPs, AO LTIP Units and Performance Conditioned AO LTIP Units are included in the computation of diluted Earnings Per Share ("EPS") using the treasury stock method, while the dilutive effect of our Series A convertible preferred shares is reflected in diluted EPS by application of the if-converted method. (Amounts in thousands, except per share amounts) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Numerator: Income from continuing operations, net of income attributable to noncontrolling interests $ 335,445 $ 203,122 $ 2,942,267 $ 336,570 (Loss) income from discontinued operations, net of income attributable to noncontrolling interests (7 ) 57 (80 ) 357 Net income attributable to Vornado 335,438 203,179 2,942,187 336,927 Preferred share dividends (12,532 ) (12,534 ) (37,598 ) (38,103 ) Preferred share issuance costs — — — (14,486 ) Net income attributable to common shareholders 322,906 190,645 2,904,589 284,338 Earnings allocated to unvested participating securities (33 ) (17 ) (291 ) (33 ) Numerator for basic income per share 322,873 190,628 2,904,298 284,305 Impact of assumed conversions: Convertible preferred share dividends 14 15 43 47 Earnings allocated to Out-Performance Plan units — — 9 127 Numerator for diluted income per share $ 322,887 $ 190,643 $ 2,904,350 $ 284,479 Denominator: Denominator for basic income per share – weighted average shares 190,814 190,245 190,762 190,176 Effect of dilutive securities (1) : Employee stock options and restricted stock awards 176 1,045 227 972 Convertible preferred shares 34 37 35 38 Out-Performance Plan units — — 3 106 Denominator for diluted income per share – weighted average shares and assumed conversions 191,024 191,327 191,027 191,292 INCOME PER COMMON SHARE – BASIC: Income from continuing operations, net $ 1.69 $ 1.00 $ 15.22 $ 1.50 Net income per common share $ 1.69 $ 1.00 $ 15.22 $ 1.50 INCOME PER COMMON SHARE – DILUTED: Income from continuing operations, net $ 1.69 $ 1.00 $ 15.20 $ 1.49 Net income per common share $ 1.69 $ 1.00 $ 15.20 $ 1.49 ____________________ (1) The effect of dilutive securities excludes an aggregate of 13,431 and 12,372 weighted average common share equivalents, for the three months ended September 30, 2019 and 2018 , respectively, and 13,067 and 12,220 weighted average common share equivalents for the nine months ended September 30, 2019 and 2018
Vornado Realty L.P.
Earnings per share
Schedule Of Earnings Per Share Basic And Diluted	Vornado Realty L.P. The following table presents the calculations of (i) basic income per Class A unit which includes the weighted average number of Class A units outstanding without regard to dilutive potential Class A units and (ii) diluted income per Class A unit which includes the weighted average Class A unit and dilutive Class A unit equivalents. Unvested share-based payment awards that contain non-forfeitable rights to dividends, whether paid or unpaid, are accounted for as participating securities. Earnings are allocated to participating securities, which include Vornado restricted stock awards, OP Units and OPPs, based on the two-class method. Other potential dilutive share equivalents such as Vornado stock options, AO LTIP Units and Performance Conditioned AO LTIP Units are included in the computation of diluted income per share using the treasury stock method, while the dilutive effect of our Series A convertible preferred shares is reflected in diluted EPS by application of the if-converted method. (Amounts in thousands, except per unit amounts) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Numerator: Income from continuing operations, net of income attributable to noncontrolling interests in consolidated subsidiaries $ 358,083 $ 215,789 $ 3,139,626 $ 355,538 (Loss) income from discontinued operations (8 ) 61 (85 ) 381 Net income attributable to Vornado Realty L.P. 358,075 215,850 3,139,541 355,919 Preferred unit distributions (12,574 ) (12,582 ) (37,722 ) (38,248 ) Preferred unit issuance costs — — — (14,486 ) Net income attributable to Class A unitholders 345,501 203,268 3,101,819 303,185 Earnings allocated to unvested participating securities (2,449 ) (997 ) (14,807 ) (2,259 ) Numerator for basic income per Class A unit 343,052 202,271 3,087,012 300,926 Impact of assumed conversions: Convertible preferred unit distributions 14 15 43 47 Numerator for diluted income per Class A unit $ 343,066 $ 202,286 $ 3,087,055 $ 300,973 Denominator: Denominator for basic income per Class A unit – weighted average units 203,009 202,103 202,903 202,033 Effect of dilutive securities (1) : Vornado stock options, Vornado restricted stock awards, OP Units and OPPs 507 1,454 478 1,329 Convertible preferred units 34 37 35 38 Denominator for diluted income per Class A unit – weighted average units and assumed conversions 203,550 203,594 203,416 203,400 INCOME PER CLASS A UNIT – BASIC: Income from continuing operations, net $ 1.69 $ 1.00 $ 15.21 $ 1.49 Net income per Class A unit $ 1.69 $ 1.00 $ 15.21 $ 1.49 INCOME PER CLASS A UNIT – DILUTED: Income from continuing operations, net $ 1.69 $ 0.99 $ 15.18 $ 1.48 Net income per Class A unit $ 1.69 $ 0.99 $ 15.18 $ 1.48 ____________________ (1) The effect of dilutive securities excludes an aggregate of 905 and 105 weighted average Class A unit equivalents, for the three months ended September 30, 2019 and 2018 respectively, and 678 and 112 weighted average Class A unit equivalents for the nine months ended September 30, 2019 and 2018

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lessor, Operating Lease, Payments to be Received, Maturity	As of September 30, 2019 , under ASC 842, future undiscounted cash flows under non-cancelable operating leases were as follows: (Amounts in thousands) As of September 30, 2019 For the remainder of 2019 $ 327,246 For the year ended December 31, 2020 1,263,818 2021 1,241,049 2022 1,174,436 2023 1,060,495 2024 885,891 Thereafter 4,336,649 As of December 31, 2018, under ASC 840, future undiscounted cash flows under non-cancelable operating leases were as follows: (Amounts in thousands) As of December 31, 2018 For the year ended December 31, 2019 $ 1,547,162 2020 1,510,097 2021 1,465,024 2022 1,407,615 2023 1,269,141 Thereafter 5,832,467
Components of Fixed and Variable Lease Revenues	The components of lease revenues for the three and nine months ended September 30, 2019 were as follows: (Amounts in thousands) For the Three Months Ended September 30, 2019 For the Nine Months Ended September 30, 2019 Fixed lease revenues $ 351,426 $ 1,159,037 Variable lease revenues 62,917 151,844 Lease revenues $ 414,343 $ 1,310,881
Schedule of Amounts Included in Measurement of Lease Liability	The following table sets forth information related to the measurement of our lease liabilities as of September 30, 2019 : (Amounts in thousands) As of September 30, 2019 Weighted average remaining lease term (in years) 40.89 Weighted average discount rate 4.85 % Cash paid for operating leases $ 20,289
Schedule of Rent Expense	The following table sets forth the details of rent expense for the three and nine months ended September 30, 2019 : (Amounts in thousands) For the Three Months Ended September 30, 2019 For the Nine Months Ended September 30, 2019 Fixed rent expense $ 7,237 $ 26,552 Variable rent expense 472 1,626 Rent expense $ 7,709 $ 28,178
Lessee, Operating Lease, Liability, Maturity	Future undiscounted cash flows for the lease, including fixed payments in lieu of real estate taxes, as of September 30, 2019 were as follows: (Amounts in thousands) As of September 30, 2019 For the remainder of 2019 $ — For the year ended December 31, 2020 10,402 2021 7,229 2022 7,444 2023 7,809 2024 8,330 Thereafter 519,048 As of September 30, 2019 , future lease payments under operating ground leases were as follows: (Amounts in thousands) As of September 30, 2019 For the remainder of 2019 $ 6,431 For the year ended December 31, 2020 28,739 2021 29,133 2022 30,033 2023 30,448 2024 30,882 Thereafter 1,046,349 Total undiscounted cash flows 1,202,015 Present value discount (711,037 ) Lease liabilities $ 490,978
Schedule of Future Minimum Rental Payments for Operating Leases	As of December 31, 2018, under ASC 840, future lease payments under operating ground leases were as follows: (Amounts in thousands) As of December 31, 2018 For the year ended December 31, 2019 $ 46,147 2020 45,258 2021 42,600 2022 43,840 2023 44,747 Thereafter 1,612,627

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
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 three and nine months ended September 30, 2019 and 2018 . (Amounts in thousands) For the Three Months Ended September 30, 2019 Total New York Other Total revenues $ 465,961 $ 380,568 $ 85,393 Operating expenses 226,359 188,159 38,200 NOI - consolidated 239,602 192,409 47,193 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (18,096 ) (9,574 ) (8,522 ) Add: NOI from partially owned entities 86,024 82,649 3,375 NOI at share 307,530 265,484 42,046 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other (4,037 ) (5,560 ) 1,523 NOI at share - cash basis $ 303,493 $ 259,924 $ 43,569 (Amounts in thousands) For the Three Months Ended September 30, 2018 Total New York Other Total revenues $ 542,048 $ 462,446 $ 79,602 Operating expenses 235,575 200,949 34,626 NOI - consolidated 306,473 261,497 44,976 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (16,943 ) (11,348 ) (5,595 ) Add: NOI from partially owned entities 60,094 47,179 12,915 NOI at share 349,624 297,328 52,296 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other (8,743 ) (9,125 ) 382 NOI at share - cash basis $ 340,881 $ 288,203 $ 52,678 (Amounts in thousands) For the Nine Months Ended September 30, 2019 Total New York Other Total revenues $ 1,463,732 $ 1,200,234 $ 263,498 Operating expenses 694,006 574,073 119,933 NOI - consolidated 769,726 626,161 143,565 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (51,915 ) (31,011 ) (20,904 ) Add: NOI from partially owned entities 236,400 211,394 25,006 NOI at share 954,211 806,544 147,667 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net and other 530 (3,741 ) 4,271 NOI at share - cash basis $ 954,741 $ 802,803 $ 151,938 (Amounts in thousands) For the Nine Months Ended September 30, 2018 Total New York Other Total revenues $ 1,620,303 $ 1,369,482 $ 250,821 Operating expenses 709,158 599,768 109,390 NOI - consolidated 911,145 769,714 141,431 Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries (51,415 ) (34,653 ) (16,762 ) Add: NOI from partially owned entities 193,359 146,730 46,629 NOI at share 1,053,089 881,791 171,298 Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net and other (39,172 ) (39,161 ) (11 ) NOI at share - cash basis $ 1,013,917 $ 842,630 $ 171,287 23 . Segment Information - continued Below is a reconciliation of net income, the most directly comparable GAAP financial measure, to NOI at share and NOI at share - cash basis for the three and nine months ended September 30, 2019 and 2018 . (Amounts in thousands) For the Three Months Ended For the Nine Months Ended 2019 2018 2019 2018 Net income $ 363,849 $ 219,162 $ 3,173,586 $ 324,782 Depreciation and amortization expense 96,437 113,169 326,181 333,701 General and administrative expense 33,237 31,977 130,129 108,937 Transaction related costs, impairment losses and other 1,576 2,510 103,315 16,683 Income from partially owned entities (25,946 ) (7,206 ) (56,139 ) (6,059 ) (Income) loss from real estate fund investments (2,190 ) 190 13,780 37,973 Interest and other investment income, net (3,045 ) (2,893 ) (15,930 ) (9,401 ) Interest and debt expense 61,448 88,951 226,940 264,774 Net gain on transfer to Fifth Avenue and Times Square JV — — (2,571,099 ) — Net gains on disposition of wholly owned and partially owned assets (309,657 ) (141,269 ) (641,664 ) (164,828 ) Income tax expense 23,885 1,943 80,542 4,964 Loss (income) from discontinued operations 8 (61 ) 85 (381 ) NOI from partially owned entities 86,024 60,094 236,400 193,359 NOI attributable to noncontrolling interests in consolidated subsidiaries (18,096 ) (16,943 ) (51,915 ) (51,415 ) NOI at share 307,530 349,624 954,211 1,053,089 Non cash adjustments for straight-line rents, amortization of acquired below-market leases, net and other (4,037 ) (8,743 ) 530 (39,172 ) NOI at share - cash basis $ 303,493 $ 340,881 $ 954,741 $ 1,013,917

Organization (Narrative) (Detai

Organization (Narrative) (Details)	9 Months Ended
	Sep. 30, 2019
Operating Partnership
Organization [Line Items]
Common limited partnership interest in the Operating Partnership (percent)	93.10%

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - Accounting Standards Update 2016-02 - Rental revenues - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Basis of Presentation [Line Items]
Property rentals	$ 437,560	$ 1,322,265
Tenant expense reimbursement	$ 66,387	$ 185,009

Recently Issued Accounting Li_3

Recently Issued Accounting Literature (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Jan. 01, 2019USD ($)ground_lease	Dec. 31, 2018USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of properties subject to ground leases | ground_lease					12
Right-of-use assets	$ 370,604		$ 370,604			$ 0
Lease liabilities	490,978		490,978			$ 0
Capitalized lease costs		$ 1,444		$ 3,883
Decrease in lease revenues	(414,343)		(1,310,881)
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets					$ 526,866
Lease liabilities					$ 526,866
Decrease in lease revenues	$ 1,106		$ 16,488

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	9 Months Ended
	Sep. 30, 2019segment
Revenue from Contract with Customer [Abstract]
Number of reportable segments	2

Revenue Recognition - Revenues

Revenue Recognition - Revenues by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Lease income	$ 414,343		$ 1,310,881
Total revenues	465,961	$ 542,048	1,463,732	$ 1,620,303
New York
Disaggregation of Revenue [Line Items]
Total revenues	380,568	462,446	1,200,234	1,369,482
Other
Disaggregation of Revenue [Line Items]
Total revenues	85,393	79,602	263,498	250,821
Rental revenues
Disaggregation of Revenue [Line Items]
Total revenues	427,638	503,947	1,348,814	1,507,274
Rental revenues | New York
Disaggregation of Revenue [Line Items]
Total revenues	342,774	425,084	1,086,198	1,259,836
Rental revenues | Other
Disaggregation of Revenue [Line Items]
Total revenues	84,864	78,863	262,616	247,438
Property rentals
Disaggregation of Revenue [Line Items]
Lease income	381,740	453,789	1,211,641	1,358,932
Property rentals | New York
Disaggregation of Revenue [Line Items]
Lease income	308,933	387,300	995,661	1,160,140
Property rentals | Other
Disaggregation of Revenue [Line Items]
Lease income	72,807	66,489	215,980	198,792
Hotel Pennsylvania
Disaggregation of Revenue [Line Items]
Lease income	24,499	26,088	62,633	67,842
Hotel Pennsylvania | New York
Disaggregation of Revenue [Line Items]
Lease income	24,499	26,088	62,633	67,842
Hotel Pennsylvania | Other
Disaggregation of Revenue [Line Items]
Lease income	0	0	0	0
Trade shows
Disaggregation of Revenue [Line Items]
Lease income	8,104	8,443	36,607	38,903
Trade shows | New York
Disaggregation of Revenue [Line Items]
Lease income	0	0	0	0
Trade shows | Other
Disaggregation of Revenue [Line Items]
Lease income	8,104	8,443	36,607	38,903
Lease revenues
Disaggregation of Revenue [Line Items]
Lease income	414,343	488,320	1,310,881	1,465,677
Lease revenues | New York
Disaggregation of Revenue [Line Items]
Lease income	333,432	413,388	1,058,294	1,227,982
Lease revenues | Other
Disaggregation of Revenue [Line Items]
Lease income	80,911	74,932	252,587	237,695
Tenant services
Disaggregation of Revenue [Line Items]
Revenue	13,295	15,627	37,933	41,597
Tenant services | New York
Disaggregation of Revenue [Line Items]
Revenue	9,342	11,696	27,904	31,854
Tenant services | Other
Disaggregation of Revenue [Line Items]
Revenue	3,953	3,931	10,029	9,743
Fee and other income
Disaggregation of Revenue [Line Items]
Revenue	38,323	38,101	114,918	113,029
Total revenues	38,323	38,101	114,918	113,029
Fee and other income | New York
Disaggregation of Revenue [Line Items]
Revenue	37,794	37,362	114,036	109,646
Fee and other income | Other
Disaggregation of Revenue [Line Items]
Revenue	529	739	882	3,383
BMS cleaning fees
Disaggregation of Revenue [Line Items]
Revenue	30,677	28,873	93,032	88,095
BMS cleaning fees | New York
Disaggregation of Revenue [Line Items]
Revenue	32,787	31,328	99,488	94,888
BMS cleaning fees | Other
Disaggregation of Revenue [Line Items]
Revenue	(2,110)	(2,455)	(6,456)	(6,793)
Management and leasing fees
Disaggregation of Revenue [Line Items]
Revenue	3,326	4,734	10,063	10,205
Management and leasing fees | New York
Disaggregation of Revenue [Line Items]
Revenue	3,746	4,439	10,469	9,384
Management and leasing fees | Other
Disaggregation of Revenue [Line Items]
Revenue	(420)	295	(406)	821
Other income
Disaggregation of Revenue [Line Items]
Revenue	4,320	4,494	11,823	14,729
Other income | New York
Disaggregation of Revenue [Line Items]
Revenue	1,261	1,595	4,079	5,374
Other income | Other
Disaggregation of Revenue [Line Items]
Revenue	$ 3,059	$ 2,899	$ 7,744	$ 9,355

Real Estate Fund Investments (N

Real Estate Fund Investments (Narrative) (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)investment	Dec. 31, 2018USD ($)investment
Investment Holdings
Aggregate fair value of Real Estate Fund investments (in US Dollars)	$ 306,596	$ 318,758
Vornado Capital Partners Real Estate Fund
Investment Holdings
Equity method ownership percentage	25.00%
Investment fund period expiration date	2013-07
Term of the Fund, years	8 years
Investment period for commitments of the Fund, years	3 years
Real estate fund investments
Investment Holdings
Number of investments held by fund (investment) | investment	4	4
Aggregate fair value of Real Estate Fund investments (in US Dollars)	$ 306,596	$ 318,758
Fair value below cost	22,968
Unfunded commitments of fund	44,194
Vornado Realty Trust
Investment Holdings
Unfunded commitments of fund	$ 13,969
Joint Venture | Crowne Plaza Times Square Hotel Joint Venture
Investment Holdings
Equity method ownership percentage	57.10%
Crowne Plaza Time Square Hotel | Joint Venture | Crowne Plaza Times Square Hotel Joint Venture
Investment Holdings
Ownership percentage by noncontrolling owners	24.70%

Real Estate Fund Investments (I

Real Estate Fund Investments (Income from the Fund and the Co-Investment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investment Holdings
New York City real property transfer tax (the Transfer Tax)	$ 0	$ 0	$ 0	$ (13,103)
Income (loss) from real estate fund investments	2,190	(190)	(13,780)	(37,973)
Less (income) loss attributable to noncontrolling interests in consolidated subsidiaries	(5,774)	(3,312)	(34,045)	31,137
Real estate fund investments
Investment Holdings
Net investment income	2,190	3,093	2,382	6,366
Net unrealized loss on held investments	0	(3,283)	(16,162)	(32,796)
Net realized loss on exited investments	0	0	0	(913)
New York City real property transfer tax (the Transfer Tax)	0	0	0	(10,630)
Income (loss) from real estate fund investments	2,190	(190)	(13,780)	(37,973)
Less (income) loss attributable to noncontrolling interests in consolidated subsidiaries	(735)	(558)	(8,427)	34,338
Income (loss) from real estate fund investments attributable to the Operating Partnership	1,455	(748)	(22,207)	(3,635)
Less (income) loss attributable to noncontrolling interests in the Operating Partnership	(95)	46	1,403	224
Income (loss) from real estate fund investments attributable to Vornado	$ 1,360	$ (702)	$ (20,804)	$ (3,411)

Marketable Securities (Narrativ

Marketable Securities (Narrative) (Details) - USD ($) $ in Thousands	Mar. 12, 2019	Mar. 01, 2019	Mar. 01, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
(Decrease) increase in fair value of marketable securities				$ (4,868)	$ (7,699)	$ (3,095)	$ (24,801)
Lexington Realty Trust
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shares sold (shares)		18,468,969	18,468,969
Proceeds from sale of equity method investments		$ 167,698
Mark-to-market increase in fair value			$ 16,068
(Decrease) increase in fair value of marketable securities				0	(7,942)	16,068	(24,934)
PREIT
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shares issued upon conversion of operating partnership units (shares)	6,250,000
(Decrease) increase in fair value of marketable securities				$ (4,875)	$ 0	$ (19,211)	$ 0

Marketable Securities (Marketab

Marketable Securities (Marketable securities portfolio) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Marketable Securities [Roll Forward]
Beginning balance			$ 152,198
Sale of marketable securities			(168,314)
Transfer of PREIT investment balance at Conversion Date			54,962
(Decrease) increase in fair value of marketable securities	$ (4,868)	$ (7,699)	(3,095)	$ (24,801)
Ending balance	35,751		35,751
Lexington Realty Trust
Marketable Securities [Roll Forward]
Beginning balance			151,630
Sale of marketable securities			(167,698)
Transfer of PREIT investment balance at Conversion Date			0
(Decrease) increase in fair value of marketable securities	0	(7,942)	16,068	(24,934)
Ending balance	0		0
PREIT
Marketable Securities [Roll Forward]
Beginning balance			0
Sale of marketable securities			0
Transfer of PREIT investment balance at Conversion Date			54,962
(Decrease) increase in fair value of marketable securities	(4,875)	$ 0	(19,211)	$ 0
Ending balance	35,751		35,751
Other
Marketable Securities [Roll Forward]
Beginning balance			568
Sale of marketable securities			(616)
Transfer of PREIT investment balance at Conversion Date			0
(Decrease) increase in fair value of marketable securities			48
Ending balance	$ 0		$ 0

Investments in Partially Owne_3

Investments in Partially Owned Entities - Fifth Avenue and Times Square JV (Details) ft² in Thousands, $ in Thousands	May 24, 2019USD ($)	May 23, 2019USD ($)	Apr. 18, 2019USD ($)ft²	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Schedule Of Equity Method Investments
Real estate held-for-sale				$ 288,135		$ 288,135		$ 99,627
Net gain on transfer to Fifth Avenue and Times Square JV				$ 0	$ 0	2,571,099	$ 0
Proceeds from redemption of preferred equity						$ 500,000	$ 0
Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Equity method ownership percentage				51.50%		51.50%
Payments to acquire noncontrolling interest interest in joint venture			$ 23,000
Payments for transaction costs for joint venture			53,000
Real estate held-for-sale			5,556,000
Net gain on transfer to Fifth Avenue and Times Square JV						$ 2,571,099
Tax gain from real estate joint venture			735,000
Joint Venture | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Aggregate of preferred equity interests			$ 1,828,000
Temporary equity, value		$ 500,000
Debt instrument, interest rate, stated percentage (percent)			4.25%
Joint Venture | Investors | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Equity method ownership percentage			48.50%
Equity method effective ownership percentage			47.20%
Retail | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Square footage of real estate property (in sqft) | ft²			489
Office Space | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Square footage of real estate property (in sqft) | ft²			327
Vornado Realty Trust | Joint Venture | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Equity method ownership percentage			51.50%
Equity method effective ownership percentage			51.00%
Proceeds from real estate joint ventures			$ 1,179,000
Net gain from real estate investment partnership, attributable to noncontrolling interest						$ 11,945
Vornado Realty Trust | Joint Venture | Investors | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Equity method investment, effective ownership transferred percentage			45.40%
Percentage After Fifth Anniversary | Joint Venture | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Debt instrument, interest rate, stated percentage (percent)			4.75%
666 Fifth Avenue | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Payments of mortgage loans held-for-sale			$ 390,000
Payments for transaction costs for joint venture			17,000
655 Fifth Avenue | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Payments of mortgage loans held-for-sale			140,000
640 Fifth Avenue
Schedule Of Equity Method Investments
Proceeds from mortgage loan	$ 500,000
Proceeds from redemption of preferred equity		$ 500,000
640 Fifth Avenue | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Debt instrument, interest rate, stated percentage (percent)	3.07%
Proceeds from mortgage loan			$ 500,000
Long-term debt, term (years)	4 years
LIBOR | 640 Fifth Avenue | Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Long-term debt, term (years)		5 years
Spread Over LIBOR (percent)		1.01%

Investments in Partially Owne_4

Investments in Partially Owned Entities - Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Fifth Avenue and Times Square JV | Joint Venture
Related Party Transaction [Line Items]
Property management fee agreement percentage of gross revenue		2.00%
Development fee as percentage of development costs		1.50%
Vornado Realty Trust | Fifth Avenue and Times Square JV | Joint Venture
Related Party Transaction [Line Items]
Development fee as percentage of development costs		5.00%
Property management fee revenue	$ 1,104	$ 1,934
BMS cleaning fees | Majority-Owned Subsidiary
Related Party Transaction [Line Items]
Revenue from related parties	$ 1,161	$ 1,952

Investments in Partially Owne_5

Investments in Partially Owned Entities (Alexander's Inc.) (Details) - Alexanders Inc $ / shares in Units, $ in Thousands	Sep. 30, 2019USD ($)$ / sharesshares
Equity Method Investments And Income From Equity Method Investments
Ownership common shares, investee (in shares) | shares	1,654,068
Equity method ownership percentage	32.40%
Closing share price (in dollars per share) | $ / shares	$ 348.41
Equity method investment fair value	$ 576,294
Excess of investee's fair value over carrying amount	475,066
Excess of investee's carrying amount over equity in net assets	$ 38,882

Investments in Partially Owne_6

Investments in Partially Owned Entities (61 Ninth Avenue) (Details) ft² in Thousands, $ in Thousands	Jan. 28, 2019USD ($)ft²	Jan. 27, 2019USD ($)	Sep. 30, 2019
Joint Venture | 61 9th Avenue
Schedule Of Equity Method Investments
Equity method ownership percentage	45.10%
61 9th Avenue | Office and Retail Property
Schedule Of Equity Method Investments
Net proceeds from debt	$ 31,000
61 9th Avenue | Office and Retail Property | Maturing in January 2026
Schedule Of Equity Method Investments
Loans payable	$ 167,500
Square footage of real estate property (in sqft) | ft²	166
Debt term (in years)	7 years
Debt instrument, interest rate, stated percentage (percent)			3.40%
61 9th Avenue | Office and Retail Property | Maturing in 2021
Schedule Of Equity Method Investments
Loans payable		$ 90,000
LIBOR | 61 9th Avenue | Office and Retail Property | Maturing in January 2026
Schedule Of Equity Method Investments
Spread Over LIBOR (percent)	1.35%
LIBOR | 61 9th Avenue | Office and Retail Property | Maturing in 2021
Schedule Of Equity Method Investments
Spread Over LIBOR (percent)		3.05%

Investments in Partially Owne_7

Investments in Partially Owned Entities (Urban Edge Properties) (Details) - UE - USD ($) $ in Thousands	Mar. 04, 2019	Sep. 30, 2019
Schedule Of Equity Method Investments
Shares sold (shares)	5,717,184
Proceeds from sale of equity method investments	$ 108,512
Gain on sale of equity investments		$ 62,395

Investments in Partially Owne_8

Investments in Partially Owned Entities (512 West 22nd Street) (Details) ft² in Thousands, $ in Thousands	Jun. 28, 2019USD ($)ft²	Jun. 27, 2019USD ($)	Sep. 30, 2019USD ($)
Joint Venture | Five One Two West 22nd Street
Schedule Of Equity Method Investments
Equity method ownership percentage	55.00%
Matures in June 2023 | Office | Five One Two West 22nd Street
Schedule Of Equity Method Investments
Loans payable	$ 145,700		$ 106,425
Square footage of real estate property (in sqft) | ft²	173
Debt term (in years)	4 years
Debt instrument, interest rate, stated percentage (percent)			4.05%
Length of extension available (years)	1 year
Matures in 2019 | Office | Five One Two West 22nd Street
Schedule Of Equity Method Investments
Loans payable		$ 126,000
LIBOR | Matures in June 2023 | Office | Five One Two West 22nd Street
Schedule Of Equity Method Investments
Spread Over LIBOR (percent)	2.00%
LIBOR | Matures in 2019 | Office | Five One Two West 22nd Street
Schedule Of Equity Method Investments
Spread Over LIBOR (percent)		2.65%

Investments in Partially Owne_9

Investments in Partially Owned Entities (330 Madison Avenue) (Details) $ in Thousands	Jul. 11, 2019USD ($)
330 Madison Avenue
Schedule Of Equity Method Investments
Gain on sale of equity investments	$ 159,292
Net tax gain on equity investment	$ 139,000
Joint Venture | 330 Madison Avenue
Schedule Of Equity Method Investments
Equity method ownership percentage	25.00%
330 Madison Avenue
Schedule Of Equity Method Investments
Net proceeds from debt	$ 100,000
Loans payable	$ 500,000

Investments in Partially Own_10

Investments in Partially Owned Entities (825 Seventh Avenue) (Details) ft² in Thousands, $ in Thousands	Jul. 25, 2019USD ($)ft²	Jul. 24, 2019USD ($)	Sep. 30, 2019USD ($)
Joint Venture | 825 Seventh Avenue
Schedule Of Equity Method Investments
Equity method ownership percentage	50.00%
825 Seventh Avenue | Matures in 2022 | Office
Schedule Of Equity Method Investments
Loans payable	$ 60,000		$ 28,882
Square footage of real estate property (in sqft) | ft²	165
Length of extension available (years)	1 year
Debt instrument, interest rate, stated percentage (percent)			3.78%
825 Seventh Avenue | Maturing in September 2019 | Office
Schedule Of Equity Method Investments
Loans payable		$ 20,500
LIBOR | 825 Seventh Avenue | Matures in 2022 | Office
Schedule Of Equity Method Investments
Spread Over LIBOR (percent)	1.65%
LIBOR | 825 Seventh Avenue | Maturing in September 2019 | Office
Schedule Of Equity Method Investments
Spread Over LIBOR (percent)		1.40%

Investments in Partially Own_11

Investments in Partially Owned Entities (Toys R Us) (Details) - Toys R Us - USD ($)	Sep. 30, 2019	Feb. 01, 2019	Dec. 31, 2018
Schedule Of Equity Method Investments
Equity method ownership percentage		32.50%
Equity method investment, aggregate cost			$ 0
Tax basis of investments, capital loss for income tax purposes	$ 420,000,000

Investments in Partially Own_12

Investments in Partially Owned Entities (Summary of Investments) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Schedule Of Equity Method Investments
Carrying amount of investments in partially owned entities	$ 4,023,820	$ 858,113
Other liabilities
Schedule Of Equity Method Investments
Carrying amount of investments in partially owned entities	(58,036)	(109,696)
330 Madison Avenue | Other liabilities
Schedule Of Equity Method Investments
Carrying amount of investments in partially owned entities	$ 0	(58,117)
7 West 34th Street | Other liabilities
Schedule Of Equity Method Investments
Equity method ownership percentage	53.00%
Carrying amount of investments in partially owned entities	$ (52,222)	(51,579)
85 Tenth Avenue | Other liabilities
Schedule Of Equity Method Investments
Equity method ownership percentage	49.90%
Carrying amount of investments in partially owned entities	$ (5,814)	0
Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Equity method ownership percentage	51.50%
Carrying amount of investments in partially owned entities	$ 3,308,363	0
Partially Owned Office Buildings
Schedule Of Equity Method Investments
Carrying amount of investments in partially owned entities	$ 467,787	499,005
Alexanders Inc
Schedule Of Equity Method Investments
Equity method ownership percentage	32.40%
Carrying amount of investments in partially owned entities	$ 101,228	107,983
PREIT
Schedule Of Equity Method Investments
Carrying amount of investments in partially owned entities	0	59,491
UE
Schedule Of Equity Method Investments
Carrying amount of investments in partially owned entities	0	45,344
Other investments
Schedule Of Equity Method Investments
Carrying amount of investments in partially owned entities	$ 146,442	$ 146,290

Investments in Partially Own_13

Investments in Partially Owned Entities (Summary of Income (Loss) ) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule Of Equity Method Investments
Our share of net income (loss)	$ 25,946	$ 7,206	$ 56,139	$ 6,059
Transfer tax	$ 0	0	$ 0	13,103
Fifth Avenue and Times Square JV
Schedule Of Equity Method Investments
Equity method ownership percentage	51.50%		51.50%
Equity in net income (loss)	$ 9,891	0	$ 21,108	0
Return on preferred equity, net of our share of the expense	9,545	0	18,131	0
Our share of net income (loss)	$ 19,436	0	$ 39,239	0
Alexanders Inc
Schedule Of Equity Method Investments
Equity method ownership percentage	32.40%		32.40%
Equity in net income (loss)	$ 5,393	4,278	$ 14,707	7,215
Management, leasing and development fees	1,299	1,149	3,478	3,378
Our share of net income (loss)	6,692	5,427	18,185	10,593
Partially Owned Office Buildings
Schedule Of Equity Method Investments
Our share of net income (loss)	(186)	735	(1,531)	(1,546)
Other investments
Schedule Of Equity Method Investments
Our share of net income (loss)	$ 4	$ 1,044	246	(2,988)
280 Park Avenue
Schedule Of Equity Method Investments
Our share of net income (loss)			$ (1,079)
One Park Avenue
Schedule Of Equity Method Investments
Transfer tax				4,978
Alexanders Inc | Kings Plaza Regional Shopping Center
Schedule Of Equity Method Investments
Transfer tax				$ 7,708

220 Central Park South 220 CPS

220 Central Park South 220 CPS - Narrative (Details) ft² in Thousands, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)ft²unit	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)ft²unit	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)ft²unit
Real Estate [Line Items]
Net gain on sale of real estate			$ 2,571,099	$ 0
Income tax expense	$ 23,885	$ 1,943	80,542	4,964
Repayments of construction loan for 220 CPS			$ 352,211	$ 0
220 Central Park South
Real Estate [Line Items]
Square footage of real estate property (in sqft) | ft²	397		397		397
Development costs	$ 1,400,000		$ 1,400,000		$ 1,400,000
Development costs expended	$ 1,300,000		$ 1,300,000		$ 1,300,000
Number of condominium units sold (unit) | unit	14		37		48
Cash proceeds from the sale of real estate	$ 348,759		$ 1,039,493		$ 1,254,269
Net gain on sale of real estate	130,888		400,500
Income tax expense	21,853		71,590
Repayments of construction loan for 220 CPS	48,883
Construction loan	$ 950,000		$ 950,000		$ 950,000
Affiliated Entity | 220 Central Park South
Real Estate [Line Items]
Number of condominium units sold (unit) | unit			1
Cash proceeds from the sale of real estate			$ 16,099
Director | Affiliated Entity | 220 Central Park South
Real Estate [Line Items]
Cash proceeds from the sale of real estate			$ 23,357

Dispositions - 3040 M Street (D

Dispositions - 3040 M Street (Details) - 3040 M Street ft² in Thousands, $ in Thousands	Sep. 18, 2019USD ($)ft²
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of real estate	$ 49,750
Gain (loss) on sale of properties	19,477
Tax gain	$ 19,000
Retail
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage of real estate property (in sqft) | ft²	44

Identified Intangible Assets _3

Identified Intangible Assets and Liabilities - Schedule of Identified Intangible Assets and Intangible Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross amount	$ 130,396	$ 308,895
Accumulated amortization	(99,623)	(172,114)
Total, net	30,773	136,781
Identified intangible liabilities (included in deferred revenue):
Gross amount	321,838	503,373
Accumulated amortization	(265,388)	(341,779)
Total, net	$ 56,450	$ 161,594

Identified Intangible Assets _4

Identified Intangible Assets and Liabilities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Below Market Leases Net Of Above Market Leases
Finite-Lived Intangible Assets and Liabilities
Increase to rental income	$ 4,393	$ 10,373	$ 15,561	$ 31,480
Other Identified Intangible Assets
Finite-Lived Intangible Assets and Liabilities
Amortization of intangible assets	$ 1,597	$ 4,822	$ 7,077	$ 14,557

Identified Intangible Assets _5

Identified Intangible Assets and Liabilities - Schedule of Future Amortization Expense of Intangible Assets (Details) $ in Thousands	Sep. 30, 2019USD ($)
Below Market Leases Net Of Above Market Leases
Finite-Lived Intangible Assets and Liabilities
2020	$ 16,643
2021	11,934
2022	8,792
2023	6,261
2024	2,518
Other Identified Intangible Assets
Finite-Lived Intangible Assets and Liabilities
2020	6,300
2021	4,763
2022	3,050
2023	2,964
2024	$ 2,351

Debt (Narrative) (Details)

Debt (Narrative) (Details) ft² in Thousands

Sep. 27, 2019USD ($)ft²

Sep. 05, 2019USD ($)ft²

Sep. 04, 2019USD ($)

May 24, 2019USD ($)ft²

Mar. 26, 2019USD ($)

Mar. 25, 2019USD ($)credit_facility

Mar. 01, 2019USD ($)

Feb. 12, 2019USD ($)ft²extension

Feb. 11, 2019USD ($)

Feb. 04, 2019USD ($)ft²

Feb. 03, 2019USD ($)

Sep. 30, 2019USD ($)

May 25, 2019USD ($)

Dec. 31, 2018USD ($)

Debt Instrument

Unsecured revolving credit facilities

$ 655,000,000

$ 80,000,000

Mortgages

Debt Instrument

Interest rate, effective (percent)

3.55%

Senior Unsecured Notes

Debt Instrument

Interest rate, effective (percent)

3.50%

Maturing in February 2024 | 435 Seventh Avenue | Retail

Debt Instrument

Refinancing

$ 95,700,000

Square footage of real estate property (in sqft) | ft²

43

Interest rate, effective (percent)

3.37%

Maturing in February 2024 | 435 Seventh Avenue | Retail | LIBOR

Debt Instrument

Spread Over LIBOR (percent)

1.30%

Maturing in August 2019 | 435 Seventh Avenue | Retail | LIBOR

Debt Instrument

Spread Over LIBOR (percent)

2.25%

Maturing in August 2019 | Mortgages | 435 Seventh Avenue | Retail

Debt Instrument

Repayments of debt

$ 95,700,000

Maturing in April 2024 | 100 West 33rd Street | Retail

Debt Instrument

Square footage of real estate property (in sqft) | ft²

256

Maturing in April 2024 | 100 West 33rd Street | Retail | LIBOR

Debt Instrument

Length of extension available (years)

1 year

Maturing in April 2024 | 100 West 33rd Street | Office and Retail Property

Debt Instrument

Refinancing

$ 580,000,000

Square footage of real estate property (in sqft) | ft²

1,100

Interest rate, effective (percent)

3.62%

Number of extensions (extension) | extension

2

Maturing in April 2024 | 100 West 33rd Street | Office and Retail Property | LIBOR

Debt Instrument

Spread Over LIBOR (percent)

1.55%

Maturing in April 2024 | 100 West 33rd Street | Office Space

Debt Instrument

Square footage of real estate property (in sqft) | ft²

859

Maturing in July 2020 | 100 West 33rd Street | Office and Retail Property | LIBOR

Debt Instrument

Spread Over LIBOR (percent)

1.65%

Maturing in July 2020 | Mortgages | 100 West 33rd Street | Office and Retail Property

Debt Instrument

Repayments of debt

$ 580,000,000

Maturing in December 2025 | 888 Seventh Avenue | Office Building

Debt Instrument

Refinancing

$ 375,000,000

Square footage of real estate property (in sqft) | ft²

886

Interest rate, effective (percent)

3.73%

Maturing in December 2025 | 888 Seventh Avenue | Office Building | LIBOR

Debt Instrument

Spread Over LIBOR (percent)

1.70%

Fixed Through December 2020 | 888 Seventh Avenue | Office Building

Debt Instrument

Refinancing

$ 375,000,000

Debt instrument, interest rate, stated percentage (percent)

3.25%

Matures in 2024 | 606 Broadway | Office and Retail Property

Debt Instrument

Refinancing

$ 75,000,000

$ 67,500,000

Square footage of real estate property (in sqft) | ft²

35

Debt instrument, interest rate, stated percentage (percent)

3.85%

Matures in 2024 | 606 Broadway | Office and Retail Property | LIBOR

Debt Instrument

Spread Over LIBOR (percent)

1.80%

Matures in 2021 | 606 Broadway | Office and Retail Property

Debt Instrument

Refinancing

$ 65,000,000

Matures in 2021 | 606 Broadway | Office and Retail Property | LIBOR

Debt Instrument

Spread Over LIBOR (percent)

3.00%

Matures in December 2021 | Mortgages | PENN2

Debt Instrument

Repayments of loan

$ 575,000,000

Matures in December 2021 | Mortgages | PENN2 | Office Building

Debt Instrument

Square footage of real estate property (in sqft) | ft²

1,795

Senior Unsecured Notes Due 2022 | Senior Unsecured Notes

Debt Instrument

Debt instrument, interest rate, stated percentage (percent)

5.00%

Debt instrument, redeemed

$ 400,000,000

Debt instrument, redemption price, percentage (percent)

105.51%

Charge related to prepayment and unamortized financing costs

$ 22,540,000

Maturing in February 2022 | Line of Credit

Debt Instrument

Number of revolving credit facility (credit facility) | credit_facility

2

Revolving Credit Facility | Maturing in March 2024 | Line of Credit

Debt Instrument

Unsecured revolving credit facilities

$ 1,500,000,000

Revolving Credit Facility | Maturing in March 2024 | Line of Credit | LIBOR

Debt Instrument

Spread Over LIBOR (percent)

0.90%

Revolving Credit Facility | Maturing in February 2022 | Line of Credit

Debt Instrument

Unsecured revolving credit facilities

$ 1,250,000,000

Facility fee, percentage

0.20%

Revolving Credit Facility | Maturing in February 2022 | Line of Credit | LIBOR

Debt Instrument

Spread Over LIBOR (percent)

1.00%

606 Broadway | Joint Venture

Debt Instrument

Equity method ownership percentage

50.00%

Interest Rate Cap | Matures in 2024 | 606 Broadway | Office and Retail Property | LIBOR

Debt Instrument

Spread Over LIBOR (percent)

4.00%

Debt (Summary of Debt) (Details

Debt (Summary of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument
Deferred financing costs, net and other	$ (41,523)	$ (59,226)
Mortgages payable, net	5,640,895	8,167,798
Unsecured debt - Carrying amount	445,668	844,002
Unsecured term loan, net	745,585	744,821
Revolving credit facilities	655,000	80,000
Unsecured debt and revolving credit facility	$ 1,846,253	1,668,823
Mortgages
Debt Instrument
Interest rate, end of period (percent)	3.55%
Mortgages payable, gross	$ 5,673,671	8,215,847
Deferred financing costs, net and other	(32,776)	(48,049)
Mortgages payable, net	$ 5,640,895	8,167,798
Mortgages | Fixed Rate
Debt Instrument
Interest rate, end of period (percent)	3.52%
Mortgages payable, gross	$ 4,605,475	5,003,465
Mortgages | Variable Rate
Debt Instrument
Interest rate, end of period (percent)	3.65%
Mortgages payable, gross	$ 1,068,196	3,212,382
Senior Unsecured Notes
Debt Instrument
Interest rate, end of period (percent)	3.50%
Deferred financing costs, net and other	$ (4,332)	(5,998)
Unsecured debt, gross	450,000	850,000
Unsecured debt - Carrying amount	$ 445,668	844,002
Unsecured Term Loan
Debt Instrument
Interest rate, end of period (percent)	3.87%
Deferred financing costs, net and other	$ (4,415)	(5,179)
Unsecured debt, gross	750,000	750,000
Unsecured term loan, net	$ 745,585	744,821
Unsecured Revolving Credit Facilities
Debt Instrument
Interest rate, end of period (percent)	2.96%
Revolving credit facilities	$ 655,000	$ 80,000

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interests/Redeemable Partnership Units (Activity of Redeemable Noncontrolling Interests) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Redeemable Noncontrolling Interests Rollforward
Beginning balance	$ 862,062	$ 938,041	$ 783,562	$ 984,937
Net income (loss)	22,637	12,671	197,354	18,992
Other comprehensive (loss) income	(650)	54	(3,732)	913
Distributions	(8,852)	(7,976)	(25,788)	(23,867)
Other, net	5,363	5,155	34,700	15,666
Ending balance	854,333	924,582	854,333	924,582
Class A Unit
Redeemable Noncontrolling Interests Rollforward
Redemption of Class A units for Vornado common shares, at redemption value	(1,999)	(1,843)	(8,128)	(14,089)
Adjustments to carry redeemable Class A units at redemption value	$ (24,228)	$ (21,520)	$ (123,635)	$ (57,970)

Redeemable Noncontrolling Int_4

Redeemable Noncontrolling Interests/Redeemable Partnership Units (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Redeemable Noncontrolling Interest
Redeemable noncontrolling interest, equity, common, carrying amount	$ 849,798	$ 778,134
Class A Unit
Redeemable Noncontrolling Interest
Redeemable noncontrolling interest, equity, common, carrying amount	849,798	778,134
Cumulative Redeemable Preferred Unit
Redeemable Noncontrolling Interest
Fair value of Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units	$ 50,561	$ 50,561

Shareholders' Equity_Partners_3

Shareholders' Equity/Partners' Capital - Schedule of Dividends (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Class of Stock [Line Items]
Common shares, dividends (in dollars per share)	$ 0.66	$ 0.63	$ 1.98	$ 1.89
Common shares of beneficial interest: authorized shares (shares)	250,000,000	250,000,000	250,000,000	250,000,000	250,000,000
Preferred shares of beneficial interest: authorized shares (shares)	110,000,000		110,000,000		110,000,000
Convertible Preferred Stock | Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, dividend rate, per-dollar-amount (in dollars per share)	$ 0.8125	$ 0.8125	$ 2.4375	$ 2.4375
Preferred shares of beneficial interest: authorized shares (shares)	83,977	83,977	83,977	83,977
Preferred stock, dividend rate, percentage (percent)			6.50%	6.50%
Redeemable Preferred Stock
Class of Stock [Line Items]
Preferred stock, liquidation preference per share (in dollars per share/unit)	$ 25		$ 25
Redeemable Preferred Stock | Series K Preferred Stock
Class of Stock [Line Items]
Preferred stock, dividend rate, per-dollar-amount (in dollars per share)	$ 0.3563	$ 0.3563	$ 1.0689	$ 1.0689
Preferred shares of beneficial interest: authorized shares (shares)	12,000,000	12,000,000	12,000,000	12,000,000
Preferred stock, dividend rate, percentage (percent)			5.70%	5.70%
Redeemable Preferred Stock | Series L Preferred Stock
Class of Stock [Line Items]
Preferred stock, dividend rate, per-dollar-amount (in dollars per share)	$ 0.3375	$ 0.3375	$ 1.0125	$ 1.0125
Preferred shares of beneficial interest: authorized shares (shares)	12,000,000	12,000,000	12,000,000	12,000,000
Preferred stock, dividend rate, percentage (percent)			5.40%	5.40%
Redeemable Preferred Stock | Series M Preferred Stock
Class of Stock [Line Items]
Preferred stock, dividend rate, per-dollar-amount (in dollars per share)	$ 0.3281	$ 0.3281	$ 0.9843	$ 0.9843
Preferred shares of beneficial interest: authorized shares (shares)	12,780,000	12,780,000	12,780,000	12,780,000
Preferred stock, dividend rate, percentage (percent)			5.25%	5.25%
Class A Unit
Class of Stock [Line Items]
Convertible shares (shares)			1.9531

Shareholders' Equity_Partners_4

Shareholders' Equity/Partners' Capital - AOCI by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	$ 7,496,144	$ 4,943,587	$ 5,107,883	$ 5,007,701
Cumulative effect of accounting change					$ (108,374)	$ 14,519
Net current period other comprehensive (loss) income	(9,293)	822	(52,712)	13,865
Amounts reclassified from AOCI			(2,311)
Ending balance, value	7,710,256	5,037,509	7,710,256	5,037,509
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(38,066)	33,351	7,664	128,682
Ending balance, value	(47,359)	34,173	(47,359)	34,173
Marketable securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	0	0	0	109,554
Cumulative effect of accounting change					(109,554)
Net current period other comprehensive (loss) income	0	0	0	0
Amounts reclassified from AOCI			0
Ending balance, value	0	0	0	0
Pro rata share of nonconsolidated subsidiaries' OCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(18)	2,834	3,253	3,769
Cumulative effect of accounting change					(1,671)
Net current period other comprehensive (loss) income	11	253	(949)	989
Amounts reclassified from AOCI			(2,311)
Ending balance, value	(7)	3,087	(7)	3,087
Interest rate swaps | Interest rate swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(33,785)	39,559	11,759	23,542
Cumulative effect of accounting change					2,851
Net current period other comprehensive (loss) income	(9,953)	623	(55,497)	13,789
Amounts reclassified from AOCI			0
Ending balance, value	(43,738)	40,182	(43,738)	40,182
Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(4,263)	(9,042)	(7,348)	(8,183)
Cumulative effect of accounting change					$ 0
Net current period other comprehensive (loss) income	649	(54)	3,734	(913)
Amounts reclassified from AOCI			0
Ending balance, value	$ (3,614)	$ (9,096)	$ (3,614)	$ (9,096)

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Unconsolidated VIEs
Variable Interest Entities
Net carrying amount of our investments in unconsolidated VIEs	$ 216,276	$ 257,882
Consolidated VIEs
Variable Interest Entities
Variable interest entity, consolidated, carrying amount, assets	4,898,971	4,445,436
Variable interest entity, consolidated, carrying amount, liabilities	$ 2,612,681	$ 2,533,753

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	$ 35,751	$ 152,198
Real estate fund investments	306,596	318,758
Recurring
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	35,751	152,198
Real estate fund investments	306,596	318,758
Deferred compensation plan assets (included in restricted cash and other assets)	99,678	96,524
Interest rate swaps (included in other assets)	5,901	27,033
Total assets	447,926	594,513
Mandatorily redeemable instruments (included in other liabilities)	50,561	50,561
Interest rate swaps (included in other liabilities)	49,539	15,236
Total liabilities	100,100	65,797
Recurring | Level 1
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	35,751	152,198
Real estate fund investments	0	0
Deferred compensation plan assets (included in restricted cash and other assets)	72,501	58,716
Interest rate swaps (included in other assets)	0	0
Total assets	108,252	210,914
Mandatorily redeemable instruments (included in other liabilities)	50,561	50,561
Interest rate swaps (included in other liabilities)	0	0
Total liabilities	50,561	50,561
Recurring | Level 2
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	0	0
Real estate fund investments	0	0
Deferred compensation plan assets (included in restricted cash and other assets)	0	0
Interest rate swaps (included in other assets)	5,901	27,033
Total assets	5,901	27,033
Mandatorily redeemable instruments (included in other liabilities)	0	0
Interest rate swaps (included in other liabilities)	49,539	15,236
Total liabilities	49,539	15,236
Recurring | Level 3
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable securities	0	0
Real estate fund investments	306,596	318,758
Deferred compensation plan assets (included in restricted cash and other assets)	27,177	37,808
Interest rate swaps (included in other assets)	0	0
Total assets	333,773	356,566
Mandatorily redeemable instruments (included in other liabilities)	0	0
Interest rate swaps (included in other liabilities)	0	0
Total liabilities	0	0
Restricted Cash | Recurring
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Deferred compensation plan assets (included in restricted cash and other assets)	18,079	8,402
Other Assets | Recurring
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Deferred compensation plan assets (included in restricted cash and other assets)	$ 81,599	$ 88,122

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)investment	Dec. 31, 2018USD ($)investment
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Real estate fund investments	$ 306,596	$ 318,758
Real estate fund investments
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Number of investments held by fund (investment) | investment	4	4
Real estate fund investments	$ 306,596	$ 318,758
Excess of fair value over cost	22,968
Level 3 | Real estate fund investments
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Real estate fund investments	306,596
Excess of fair value over cost	$ 22,968

Fair Value Measurements (Unober

Fair Value Measurements (Unobervable Quantitative Input Ratios) (Details) - Recurring - Level 3 - Real estate fund investments	Sep. 30, 2019	Dec. 31, 2018
Discount Rate | Minimum
Unobservable Quantitative Input
Real estate, measurement input	0.100	0.100
Discount Rate | Maximum
Unobservable Quantitative Input
Real estate, measurement input	0.150	0.150
Discount Rate | Weighted Average
Unobservable Quantitative Input
Real estate, measurement input	0.135	0.134
Cap Rate | Minimum
Unobservable Quantitative Input
Real estate, measurement input	0.051	0.054
Cap Rate | Maximum
Unobservable Quantitative Input
Real estate, measurement input	0.076	0.077
Cap Rate | Weighted Average
Unobservable Quantitative Input
Real estate, measurement input	0.055	0.057

Fair Value Measurements (Change

Fair Value Measurements (Changes in the Fair Value of Real Estate Fund Investments and Deferred Compensation Plan Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Real estate fund investments
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	$ 306,596	$ 373,039	$ 318,758	$ 354,804
Purchases/additional fundings	0	0	4,000	68,950
Net unrealized loss on held investments	0	(3,283)	(16,162)	(32,796)
Dispositions	0	0	0	(20,291)
Net realized loss on exited investments	0	0	0	(913)
Other, net	0	11	0	13
Ending balance	306,596	369,767	306,596	369,767
Deferred Compensation Plan Assets
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	21,991	39,870	37,808	40,128
Sales	(652)	(3,304)	(20,807)	(6,813)
Purchases/additional fundings	5,437	1,576	8,314	3,209
Realized and unrealized gains	116	180	854	892
Other, net	285	466	1,008	1,372
Ending balance	$ 27,177	$ 38,788	$ 27,177	$ 38,788

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements on a Nonrecurring Basis) (Details) - Real estate assets - Nonrecurring - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Real estate asset	$ 0	$ 14,971,000
Level 1
Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Real estate asset		0
Level 2
Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Real estate asset		0
Level 3
Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Real estate asset		$ 14,971,000

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying amounts and fair value of financial instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured revolving credit facilities	$ 655,000	$ 80,000
Deferred financing costs, net and other	41,523	59,226
Senior Unsecured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	450,000	850,000
Deferred financing costs, net and other	4,332	5,998
Unsecured Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	750,000	750,000
Deferred financing costs, net and other	4,415	5,179
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents, carrying amount	979,060	261,981
Mortgages payable, gross	5,673,671	8,215,847
Unsecured revolving credit facilities	655,000	80,000
Debt, Carrying Amount	7,528,671	9,895,847
Carrying Amount | Senior Unsecured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	450,000	850,000
Carrying Amount | Unsecured Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	750,000	750,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, Fair Value	7,595,000	9,856,000
Fair Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents, fair value	979,000	262,000
Unsecured revolving credit facilities	655,000	80,000
Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgages payable, gross	5,725,000	8,179,000
Fair Value | Senior Unsecured Notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	465,000	847,000
Fair Value | Unsecured Term Loan | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	$ 750,000	$ 750,000

Stock-based Compensation (Narra

Stock-based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands

3 Months Ended

9 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

May 16, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

$ 2,578

$ 2,578

Share-based comepnsation expense, accelerated cost

$ 16,211

Performance Conditioned AO LTIP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Threshold percentage to satisfy performance based condition (percent)

110.00%

Weighted average grant date fair value (in usd per share)

$ 64.48

Threshold period to satisfy performance based condition (in days)

20 days

Stock options expiration term (years)

10 years

Grant-date fair value

8,983

$ 8,983

Share-based compensation expense

7,481

Share-based compensation, amount capitalized

$ 1,502

Grant amortization period (years)

4 years

Forecast

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

$ 2,578

$ 8,477

General and Administrative Expense

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

5,871

$ 5,545

$ 48,045

$ 26,190

2019 Omnibus Share Plan | Not Full Value Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares authorized (shares)

5,500,000

2019 Omnibus Share Plan | Full Value Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares authorized (shares)

11,000,000

2019 Omnibus Share Plan | Forecast

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

$ 2,401

$ 2,655

$ 7,718

$ 9,603

$ 9,603

Executive Officer

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant-date fair value

25,500

25,500

Executive Officer | General and Administrative Expense

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

1,413

6,729

Executive Officer | 2019 Omnibus Share Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant-date fair value

15,000

$ 15,000

Vesting period (in years)

4 years

Executive Officer | 2019 Omnibus Share Plan | General and Administrative Expense

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

$ 988

$ 1,317

Share-based Payment Arrangement, Tranche One | Executive Officer

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting rights, percentage

20.00%

Share-based Payment Arrangement, Tranche Two | Executive Officer

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting rights, percentage

40.00%

Share-based Payment Arrangement, Tranche Three | Executive Officer

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting rights, percentage

40.00%

Transaction Related Costs, Im_3

Transaction Related Costs, Impairment Losses and Other - Schedule of Transaction Related Costs, Impairment Losses and Other (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Transaction Related Costs, Impairment Losses and Other [Line Items]
Transaction related costs	$ 1,576	$ 2,510	$ 1,955	$ 3,580
Non-cash impairment loss	0	0	101,360	0
Transfer tax	0	0	0	13,103
Transaction related costs, impairment losses and other	$ 1,576	$ 2,510	$ 103,315	$ 16,683
Independence Plaza
Transaction Related Costs, Impairment Losses and Other [Line Items]
Equity method ownership percentage	50.10%		50.10%

Transaction Related Costs, Im_4

Transaction Related Costs, Impairment Losses and Other - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Transaction Related Costs, Impairment Losses and Other [Line Items]
Non-cash impairment loss	$ 0		$ 0	$ 101,360	$ 0
Operating lease, impairment loss				75,220	$ 0
Lease liabilities	490,978			490,978		$ 0
608 Fifth Avenue
Transaction Related Costs, Impairment Losses and Other [Line Items]
Non-cash impairment loss		$ 93,860
Operating lease, impairment loss		$ 75,220
Lease liabilities	$ 72,088			$ 72,088

Interest and Other Investment_3

Interest and Other Investment Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net Investment Income [Line Items]
(Decrease) increase in fair value of marketable securities	$ (4,868)	$ (7,699)	$ (3,095)	$ (24,801)
Interest on cash and cash equivalents and restricted cash	4,060	4,306	8,753	12,370
Interest on loans receivable	1,604	2,004	4,845	8,952
Dividends on marketable securities	1,312	3,354	2,625	10,060
Other, net	937	928	2,802	2,820
Interest and other investment income, net	3,045	2,893	15,930	9,401
PREIT
Net Investment Income [Line Items]
(Decrease) increase in fair value of marketable securities	(4,875)	0	(19,211)	0
Lexington Realty Trust
Net Investment Income [Line Items]
(Decrease) increase in fair value of marketable securities	0	(7,942)	16,068	(24,934)
Other
Net Investment Income [Line Items]
(Decrease) increase in fair value of marketable securities	$ 7	243	$ 48	133
Mezzanine Loan Investment
Net Investment Income [Line Items]
Interest on loans receivable		$ 1,250		$ 6,707

Interest and Debt Expense (Deta

Interest and Debt Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest and Debt Expense [Abstract]
Interest expense	$ 72,345	$ 98,841	$ 266,597	$ 290,006
Capitalized interest and debt expense	(16,047)	(18,238)	(59,184)	(49,718)
Amortization of deferred financing costs	5,150	8,348	19,527	24,486
Interest and debt expense, Total	$ 61,448	$ 88,951	$ 226,940	$ 264,774

Interest and Debt Expense - Foo

Interest and Debt Expense - Footnote (Details) - Senior Unsecured Notes - Senior Unsecured Notes Due 2022 - USD ($)	Sep. 30, 2019	Mar. 01, 2019
Debt Instrument, Redemption [Line Items]
Charge related to prepayment and unamortized financing costs	$ 22,540,000
Debt instrument, redeemed		$ 400,000,000
Debt instrument, interest rate, stated percentage (percent)		5.00%

Income Per Share_Income Per C_3

Income Per Share/Income Per Class A Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Income from continuing operations, net of income attributable to noncontrolling interests / in consolidated subsidiaries	$ 335,445	$ 203,122	$ 2,942,267	$ 336,570
(Loss) income from discontinued operations, net of income attributable to noncontrolling interests	(7)	57	(80)	357
Net income attributable to Vornado / Vornado Realty L.P.	335,438	203,179	2,942,187	336,927
Preferred share dividends / unit distributions	(12,532)	(12,534)	(37,598)	(38,103)
Preferred share / unit issuance costs	0	0	0	(14,486)
NET INCOME attributable to common shareholders / Class A unitholders	322,906	190,645	2,904,589	284,338
Earnings allocated to unvested participating securities	(33)	(17)	(291)	(33)
Numerator for basic income (loss) per share / per Class A unit	322,873	190,628	2,904,298	284,305
Convertible preferred share dividends / unit distributions	14	15	43	47
Earnings allocated to Out-Performance Plan units	0	0	9	127
Numerator for diluted income (loss) per share	$ 322,887	$ 190,643	$ 2,904,350	$ 284,479
Denominator:
Denominator for basic income per share - weighted average shares (in shares)	190,814	190,245	190,762	190,176
Vornado employee stock options and restricted share / unit awards (in shares)	176	1,045	227	972
Convertible preferred shares/units	34	37	35	38
Out-Performance Plan units	0	0	3	106
Denominator for diluted income (loss) per share - weighted average shares and assumed conversions (in shares)	191,024	191,327	191,027	191,292
INCOME PER COMMON SHARE – BASIC:
Income from continuing operations, net (in dollars per share)	$ 1.69	$ 1	$ 15.22	$ 1.50
Net income per common share (in dollars per share)	1.69	1	15.22	1.50
INCOME PER COMMON SHARE – DILUTED:
Income from continuing operations, net (in dollars per share)	1.69	1	15.20	1.49
Net income per common share (in dollars per share)	$ 1.69	$ 1	$ 15.20	$ 1.49
Vornado Realty L.P.
Numerator:
Income from continuing operations, net of income attributable to noncontrolling interests / in consolidated subsidiaries	$ 358,083	$ 215,789	$ 3,139,626	$ 355,538
(Loss) income from discontinued operations, net of income attributable to noncontrolling interests	(8)	61	(85)	381
Net income attributable to Vornado / Vornado Realty L.P.	358,075	215,850	3,139,541	355,919
Preferred share dividends / unit distributions	(12,574)	(12,582)	(37,722)	(38,248)
Preferred share / unit issuance costs	0	0	0	(14,486)
NET INCOME attributable to common shareholders / Class A unitholders	345,501	203,268	3,101,819	303,185
Earnings allocated to unvested participating securities	(2,449)	(997)	(14,807)	(2,259)
Numerator for basic income (loss) per share / per Class A unit	343,052	202,271	3,087,012	300,926
Convertible preferred share dividends / unit distributions	14	15	43	47
Numerator for diluted income (loss) per Class A unit	$ 343,066	$ 202,286	$ 3,087,055	$ 300,973
Denominator:
Denominator for basic income (loss) per Class A unit – weighted average units (in shares)	203,009	202,103	202,903	202,033
Vornado employee stock options and restricted share / unit awards (in shares)	507	1,454	478	1,329
Convertible preferred shares/units	34	37	35	38
Denominator for diluted income (loss) per Class A unit - weighted average units and assumed conversions	203,550	203,594	203,416	203,400
INCOME PER CLASS A UNIT – BASIC:
Income from continuing operations, net (in dollars per unit)	$ 1.69	$ 1	$ 15.21	$ 1.49
Net income per Class A unit (in dollars per unit)	1.69	1	15.21	1.49
INCOME PER CLASS A UNIT – DILUTED:
Income from continuing operations, net (in dollars per unit)	1.69	0.99	15.18	1.48
Net income per Class A unit (in dollars per unit)	$ 1.69	$ 0.99	$ 15.18	$ 1.48

Income Per Share_Income Per C_4

Income Per Share/Income Per Class A Unit (Narrative) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Antidilutive Securities Excluded From Computation Of Earnings Per Share
Weighted average common share / class A unit equivalents of excluded dilutive securities due to anti-dilutive effect	13,431	12,372	13,067	12,220
Vornado Realty L.P.
Antidilutive Securities Excluded From Computation Of Earnings Per Share
Weighted average common share / class A unit equivalents of excluded dilutive securities due to anti-dilutive effect	905	105	678	112

Leases - Lessor, Operating Leas

Leases - Lessor, Operating Lease, Payments to be Received (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
For the remainder of 2019	$ 327,246
2020	1,263,818
2021	1,241,049
2022	1,174,436
2023	1,060,495
2024	885,891
Thereafter	$ 4,336,649
Under ASC 840
2019		$ 1,547,162
2020		1,510,097
2021		1,465,024
2022		1,407,615
2023		1,269,141
Thereafter		$ 5,832,467

Leases - Components of Fixed an

Leases - Components of Fixed and Variable Lease Revenues (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Fixed lease revenues	$ 351,426	$ 1,159,037
Variable lease revenues	62,917	151,844
Total lease revenues	$ 414,343	$ 1,310,881

Leases - Narrative (Details)

Leases - Narrative (Details) ft² in Thousands, $ in Thousands	Sep. 30, 2019USD ($)ft²	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Leases [Line Items]
Operating lease, right-of-use asset	$ 370,604		$ 0
Operating lease liabilities	490,978		0
Reclassification from other liabilities	(266,090)		(311,806)
Reclassification from deferred revenue	(62,583)		(167,730)
Reclassification from identified intangible assets, net	(30,773)		(136,781)
Reclassification from other assets	$ (446,516)		$ (431,938)
Accounting Standards Update 2016-02
Leases [Line Items]
Operating lease, right-of-use asset		$ 526,866
Operating lease liabilities		526,866
Reclassification from other liabilities		37,269
Reclassification from deferred revenue		4,267
Reclassification from identified intangible assets, net		23,665
Reclassification from other assets		$ 1,584
Farley Office and Retail Building
Leases [Line Items]
Equity method ownership percentage	95.00%
Square footage of real estate property (in sqft) | ft²	845
Lessee, operating lease, lease not yet commenced, term (years)	99 years
Farley Office and Retail Building | Office Space
Leases [Line Items]
Square footage of real estate property (in sqft) | ft²	725
Farley Office and Retail Building | Retail
Leases [Line Items]
Square footage of real estate property (in sqft) | ft²	120

Leases - Schedule of Amounts In

Leases - Schedule of Amounts Included in the Measurement of Lease Liability (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Leases [Abstract]
Weighted average remaining lease term (in years)	40 years 10 months 20 days
Weighted average discount rate (percent)	4.85%
Cash paid for operating leases	$ 20,289

Leases - Schedule of Components

Leases - Schedule of Components of Rent Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Fixed rent expense	$ 7,237	$ 26,552
Variable rent expense	472	1,626
Rent expense	$ 7,709	$ 28,178

Leases - Lessee, Operating Leas

Leases - Lessee, Operating Lease, Liability, Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
For the remainder of 2019	$ 6,431
2020	28,739
2021	29,133
2022	30,033
2023	30,448
2024	30,882
Thereafter	1,046,349
Total undiscounted cash flows	1,202,015
Present value discount	(711,037)
Lease liabilities	490,978	$ 0
Farley Office and Retail Building
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
For the remainder of 2019	0
2020	10,402
2021	7,229
2022	7,444
2023	7,809
2024	8,330
Thereafter	$ 519,048

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2019	$ 46,147
2020	45,258
2021	42,600
2022	43,840
2023	44,747
Thereafter	$ 1,612,627

Commitments and Contingencies (

Commitments and Contingencies (Details)	9 Months Ended
	Sep. 30, 2019USD ($)
Other Commitments
Guarantees and master leases	$ 978,000,000
Outstanding letters of credit	15,880,000
Commitment to fund additional capital to partially owned entities	15,400,000
Construction commitment	746,000,000
General Liability
Insurance
Insurance limit per property	300,000,000
Insurance limit per occurrence	300,000,000
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	5.00%
Non-Certified Acts of Terrorism
Insurance
Insurance maximum coverage limit in aggregate	$ 760,000,000
Terrorism Acts
Insurance
Insurance limit per occurrence	4,000,000,000
Insurance maximum coverage limit in aggregate	4,000,000,000
NBCR Acts
Insurance
Insurance limit per occurrence	2,000,000,000
Insurance maximum coverage limit in aggregate	2,000,000,000
PPIC | NBCR Acts
Insurance
Insurance deductible	$ 1,456,071
Insurance deductible percentage of balance of covered loss	19.00%
Farley Office and Retail Building
Other Commitments
Equity method ownership percentage	95.00%
Farley Office and Retail Building | General Liability
Insurance
Insurance limit per occurrence	$ 100,000,000
Farley Office and Retail Building | Non-Certified Acts of Terrorism
Insurance
Insurance limit per occurrence	1,000,000,000
Insurance maximum coverage limit in aggregate	1,000,000,000
Farley Office and Retail Building | Terrorism Acts
Insurance
Insurance limit per occurrence	1,000,000,000
Insurance maximum coverage limit in aggregate	1,000,000,000
Farley Office and Retail Building | Property and Development Activities
Insurance
Insurance limit per occurrence	2,800,000,000
Insurance maximum coverage limit in aggregate	$ 2,800,000,000
Joint Venture | Farley Office and Retail Building
Other Commitments
Equity method ownership percentage	95.00%

Segment Information - Summary o

Segment Information - Summary of NOI by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Information
Total revenues	$ 465,961	$ 542,048	$ 1,463,732	$ 1,620,303
Operating expenses	226,359	235,575	694,006	709,158
NOI - consolidated	239,602	306,473	769,726	911,145
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(18,096)	(16,943)	(51,915)	(51,415)
Add: NOI from partially owned entities	86,024	60,094	236,400	193,359
NOI at share	307,530	349,624	954,211	1,053,089
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	(4,037)	(8,743)	530	(39,172)
NOI at share - cash basis	303,493	340,881	954,741	1,013,917
New York
Segment Information
Total revenues	380,568	462,446	1,200,234	1,369,482
Operating expenses	188,159	200,949	574,073	599,768
NOI - consolidated	192,409	261,497	626,161	769,714
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(9,574)	(11,348)	(31,011)	(34,653)
Add: NOI from partially owned entities	82,649	47,179	211,394	146,730
NOI at share	265,484	297,328	806,544	881,791
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	(5,560)	(9,125)	(3,741)	(39,161)
NOI at share - cash basis	259,924	288,203	802,803	842,630
Other
Segment Information
Total revenues	85,393	79,602	263,498	250,821
Operating expenses	38,200	34,626	119,933	109,390
NOI - consolidated	47,193	44,976	143,565	141,431
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(8,522)	(5,595)	(20,904)	(16,762)
Add: NOI from partially owned entities	3,375	12,915	25,006	46,629
NOI at share	42,046	52,296	147,667	171,298
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	1,523	382	4,271	(11)
NOI at share - cash basis	$ 43,569	$ 52,678	$ 151,938	$ 171,287

Segment Information (Summary of

Segment Information (Summary of net income and EBITDA reconciliation by segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting [Abstract]
Net income	$ 363,849	$ 219,162	$ 3,173,586	$ 324,782
Depreciation and amortization expense	96,437	113,169	326,181	333,701
General and administrative expense	33,237	31,977	130,129	108,937
Transaction related costs, impairment losses and other	1,576	2,510	103,315	16,683
Income from partially owned entities	(25,946)	(7,206)	(56,139)	(6,059)
(Income) loss from real estate fund investments	(2,190)	190	13,780	37,973
Interest and other investment income, net	(3,045)	(2,893)	(15,930)	(9,401)
Interest and debt expense	61,448	88,951	226,940	264,774
Net gain on transfer to Fifth Avenue and Times Square JV	0	0	(2,571,099)	0
Net gains on disposition of wholly owned and partially owned assets	(309,657)	(141,269)	(641,664)	(164,828)
Income tax expense	23,885	1,943	80,542	4,964
Loss (income) from discontinued operations	8	(61)	85	(381)
NOI from partially owned entities	86,024	60,094	236,400	193,359
NOI attributable to noncontrolling interests in consolidated subsidiaries	(18,096)	(16,943)	(51,915)	(51,415)
NOI at share	307,530	349,624	954,211	1,053,089
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	(4,037)	(8,743)	530	(39,172)
NOI at share - cash basis	$ 303,493	$ 340,881	$ 954,741	$ 1,013,917