The first mortgages and other loans payable collateralized by the respective properties and assignment of leases at December 31, 2016 and 2015, respectively, were as follows (amounts in thousands):



Property	Maturity Date	Interest Rate ⁽¹⁾		December 31, 2016			December 31, 2015
Fixed Rate Debt:
FHLBNY Facility ⁽²⁾	January 2017	1.03	%	$	105,000		$	—
FHLBNY Facility ⁽²⁾	January 2017	0.80	%	100,000			—
485 Lexington Avenue ⁽³⁾	February 2017	5.61	%	450,000			450,000
762 Madison Avenue ⁽⁴⁾	February 2017	3.86	%	7,694			7,872
Unsecured Loan	June 2018	4.81	%	16,000			16,000
One Madison Avenue	May 2020	5.91	%	517,806			542,817
100 Church Street	July 2022	4.68	%	221,446			225,099
919 Third Avenue ⁽⁵⁾	June 2023	5.12	%	500,000			500,000
420 Lexington Avenue	October 2024	3.99	%	300,000			300,000
1515 Broadway	March 2025	3.93	%	888,531			900,000
400 East 58th Street ⁽⁶⁾	November 2026	3.00	%	40,000			28,990
Landmark Square	January 2027	5.05	%	100,000			79,562
Series J Preferred Units ⁽⁷⁾	April 2051	3.75	%	4,000			4,000
885 Third Avenue ⁽⁸⁾		6.26	%	267,650			267,650
400 East 57th Street ⁽⁹⁾				—			67,644
11 Madison Avenue ⁽¹⁰⁾				—			1,400,000
388-390 Greenwich Street ⁽¹¹⁾				—			1,004,000
500 West Putnam Avenue ⁽¹²⁾				—			22,376
Total fixed rate debt				$	3,518,127		$	5,816,010
Floating Rate Debt:
719 Seventh Avenue	February 2018	3.55	%	$	37,388		$	—
183, 187 Broadway & 5-7 Dey Street	May 2018	3.16	%	58,000			40,000
Master Repurchase Agreement	July 2018	3.04	%	184,642			253,424
1080 Amsterdam ⁽¹³⁾	November 2018	4.23	%	3,525			3,525
220 East 42nd Street	October 2020	2.08	%	275,000			275,000
One Vanderbilt Avenue ⁽¹⁴⁾	September 2021	4.09	%	64,030			—
FHLBNY Facility				—			45,750
600 Lexington Avenue				—			112,795
388-390 Greenwich Street ⁽¹¹⁾				—			446,000
248-252 Bedford Avenue ⁽¹⁵⁾				—			29,000
Total floating rate debt				$	622,585		$	1,205,494
Total fixed rate and floating rate debt				$	4,140,712		$	7,021,504
Mortgages reclassed to liabilities related to assets held for sale ⁽¹⁵⁾				—			(29,000		)
Total mortgages and other loans payable				$	4,140,712		$	6,992,504
Deferred financing costs, net of amortization				(66,882		)	(110,584		)
Total mortgages and other loans payable, net				$	4,073,830		$	6,881,920

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(1)	Effective weighted average interest rate for the year ended December 31, 2016, taking into account interest rate hedges in effect during the period.


(2)	The facility was repaid in January 2017.


(3)	In January 2017, this loan was refinanced with a new $450.0 million mortgage with a fixed effective interest rate of 4.22% and a maturity date of February 2027.


(4)	In February 2017, the mortgage was repaid.


(5)	We own a 51.0% controlling interest in the consolidated joint venture that is the borrower on this loan.


(6)	The loan carries a fixed interest rate of 3.00% for the first 5 years and is prepayable without penalty in year 5.

(7)

In connection with the acquisition of a commercial real estate property, the Operating Partnership issued $4.0 million, 3.75% Series J Preferred Units of limited partnership interest, or the Series J Preferred Units, with a mandatory liquidation preference of $1,000 per unit. The Series J Preferred Units are accounted for as debt because they can be redeemed in cash by the Operating Partnership on the earlier of (i) the date of the sale of the property or (ii) April 30, 2051 or at the option of the unitholders as further prescribed in the related agreement.


(8)	In February 2016, we closed on the sale of 885 Third Avenue. The sale did not meet the criteria for sale accounting and as a result, the property remains on our consolidated balance sheet until the criteria is met. The maturity date of the mortgage on the property, which was assumed by the buyer, is July 2017.


(9)	In October 2016, we closed on the sale of a 49.0% interest on 400 East 57th Street. This property is now classified as an unconsolidated joint venture.


(10)	In August 2016, we closed on the sale of a 40.0% interest on 11 Madison Avenue. This property is now classified as an unconsolidated joint venture.


(11)	In June 2016, we closed on the sale of 388-390 Greenwich Street.


(12)	In January 2016, the mortgage was repaid.


(13)	In January 2017, this loan was refinanced with a new $47.0 million facility with a maturity date of January 2027.

(14)

In September 2016, we closed on a $1.5 billion construction facility in connection with the development of One Vanderbilt Avenue. This facility bears interest at 350 basis points over 30-day LIBOR, with reductions based on meeting certain conditions, and has an initial five-year term with two one-year extension options. Advances under the loan are subject to incurred costs, funded equity, loan to value thresholds, and entering into construction contracts.


(15)	This property at 248-252 Bedford Avenue in Brooklyn, New York was sold in February 2016. At December 31, 2015, this property was held for sale and the related mortgage, net of deferred financing, net of amortization costs of $0.6 million, was included in liabilities related to assets held for sale.