The first mortgages and other loans payable collateralized by the respective properties and assignment of leases or debt investments at March 31, 2017 and December 31, 2016, respectively, were as follows (amounts in thousands):



Property	Maturity Date	Interest Rate ⁽¹⁾		March 31, 2017			December 31, 2016
Fixed Rate Debt:
Unsecured Loan	June 2018	4.81	%	$	16,000		$	16,000
One Madison Avenue	May 2020	5.91	%	509,967			517,806
762 Madison Avenue	February 2022	3.99	%	771			7,694
100 Church Street	July 2022	4.68	%	220,161			221,446
919 Third Avenue ⁽²⁾	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	%	884,470			888,531
400 East 58th Street ⁽³⁾	November 2026	3.00	%	40,000			40,000
Landmark Square	January 2027	4.90	%	100,000			100,000
485 Lexington Avenue	February 2027	4.41	%	450,000			450,000
1080 Amsterdam ⁽⁴⁾	February 2027	3.63	%	36,363			—
315 West 33rd Street	February 2027	4.17	%	250,000			—
Series J Preferred Units ⁽⁵⁾	April 2051	3.75	%	4,000			4,000
885 Third Avenue ⁽⁶⁾		6.26	%	267,650			267,650
FHLBNY Facility ⁽⁷⁾				—			105,000
FHLBNY Facility ⁽⁷⁾				—			100,000
Total fixed rate debt				$	3,579,382		$	3,518,127
Floating Rate Debt:
719 Seventh Avenue	February 2018	3.84	%	$	39,521		$	37,388
183, 187 Broadway & 5-7 Dey Street	May 2018	3.48	%	58,000			58,000
Master Repurchase Agreement	July 2018	3.28	%	184,642			184,642
220 East 42nd Street	October 2020	2.38	%	275,000			275,000
One Vanderbilt Avenue ⁽⁸⁾	September 2021	4.29	%	100,000			64,030
1080 Amsterdam ⁽⁹⁾				—			3,525
Total floating rate debt				$	657,163		$	622,585
Total fixed rate and floating rate debt				$	4,236,545		$	4,140,712
Mortgages reclassed to liabilities related to assets held for sale				—			—
Total mortgages and other loans payable				$	4,236,545		$	4,140,712
Deferred financing costs, net of amortization				(69,275		)	(66,882		)
Total mortgages and other loans payable, net				$	4,167,270		$	4,073,830


(1)	Effective weighted average interest rate for the quarter ended March 31, 2017, taking into account interest rate hedges in effect during the period.


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


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


(4)	The loan is comprised of a $35.5 million mortgage loan and $0.9 million subordinate loan with a fixed interest rate of 3.50% and 7.00%, respectively, for the first 5 years and is prepayable without penalty in year 5.

(5)

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 provided for in the related agreement.


(6)	In February 2016, we closed on the sale of 885 Third Avenue. The sale did not meet the criteria for sale accounting at that time and, therefore, remains on our consolidated balance sheet as of March 31, 2017. In April 2017, the mortgage was refinanced by the buyer which will result in the Company deconsolidating the property from its financial statements in the second quarter of 2017.


(7)	The facility was repaid in January 2017.

(8)

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.


(9)	In January 2017, this loan was refinanced with a fixed rate loan as shown above.