As of March 31, 2026, our noncontrolling interest in consolidated affiliates relates to our joint venture partners' 20.0% interest in the Midtown West joint venture, 90.0% interest in the Bloc 83 joint venture and 20.0% interest in the Terraces joint venture. Each of our joint venture partners is an unrelated third party.


	Three Months Ended March 31,
		2026		2025
Beginning noncontrolling interests in the Operating Partnership		$	52,777	$	65,791
Adjustment of noncontrolling interests in the Operating Partnership to fair value		(8,434)		(2,902)

Conversions of Common Units to Common Stock		(700)		—
Redemptions of Common Units		(24)		(10)
Net income attributable to noncontrolling interests in the Operating Partnership		579		1,956
Distributions to noncontrolling interests in the Operating Partnership		(1,009)		(1,076)
Total noncontrolling interests in the Operating Partnership		$	43,189	$	63,759

The following table sets forth net income available for common stockholders and transfers from the Company’s noncontrolling interests in the Operating Partnership:


	Three Months Ended March 31,
		2026		2025
Net income available for common stockholders		$	31,363	$	97,449
Increase in additional paid in capital from conversions of Common Units to Common Stock		700		—
Redemptions of Common Units		24		10

Change from net income available for common stockholders and transfers from noncontrolling interests		$	32,087	$	97,459