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Mortgages and Other Loans Payable (Tables)
 9 Months Ended
Sep. 30, 2020
Mortgages and Other Loans Payable  
Schedule of first mortgages and other loans payable collateralized by the respective properties and assignment of leases
The mortgages and other loans payable collateralized by the respective properties and assignment of leases or debt investments at September 30, 2020 and December 31, 2019, respectively, were as follows (dollars in thousands):
PropertyInitial Maturity
Date
Final Maturity Date (1)
Interest
Rate (2)
September 30, 2020December 31, 2019
Fixed Rate Debt:
100 Church StreetJuly 2022July 20224.68%$206,013 $209,296 
420 Lexington AvenueOctober 2024October 20403.99%295,355 299,165 
Landmark SquareJanuary 2027January 20274.90%100,000 100,000 
485 Lexington AvenueFebruary 2027February 20274.25%450,000 450,000 
1080 Amsterdam (3)
February 2027February 20273.59%34,773 35,123 
762 Madison Avenue (4)
— 771 
315 West 33rd Street (5)
— 250,000 
400 East 58th Street 39,094 
Total fixed rate debt$1,086,141 $1,383,449 
Floating Rate Debt:
133 Greene Street(6)(6)L+2.00%$15,523 $15,523 
106 Spring Street January 2021January 2022L+2.50%38,025 38,025 
FHLB FacilityJanuary 2021January 2021L+0.28%10,000 — 
FHLB FacilityJanuary 2021January 2021L+0.23%15,000 — 
FHLB FacilityJanuary 2021January 2021L+0.18%35,000 — 
609 Fifth Avenue March 2021March 2024L+2.40%57,651 53,773 
185 Broadway (7)
November 2021November 2023L+2.85%144,448 120,110 
712 Madison AvenueDecember 2021December 2022L+1.85%28,000 28,000 
220 East 42nd StreetJune 2023June 2025L+2.75%510,000 — 
410 Tenth Avenue (8)
August 2023August 2025L+2.25%434,934 330,819 
719 Seventh AvenueSeptember 2023September 2023L+1.20%50,000 50,000 
2017 Master Repurchase Agreement (9)
— 152,684 
FHLB Facility — 10,000 
FHLB Facility — 15,000 
FHLB Facility — 14,500 
Total floating rate debt$1,338,581 $828,434 
Total mortgages and other loans payable$2,424,722 $2,211,883 
Deferred financing costs, net of amortization(32,978)(28,630)
Total mortgages and other loans payable, net$2,391,744 $2,183,253 
(1)Reflects exercise of all available extension options. The ability to exercise extension options may be subject to certain tests based on the operating performance of the property.
(2)Interest rate as of September 30, 2020, taking into account interest rate hedges in effect during the period. Floating rate debt is presented with the stated spread over the 30-day LIBOR, unless otherwise specified.
(3)The loan is comprised of a $33.9 million mortgage loan and $0.9 million mezzanine loan with a fixed interest rate of 350 basis points and 700 basis points, respectively, for the first five years and is prepayable without penalty at the end of fifth year.
(4)In January 2020, the Company closed on the acquisition of the remaining 10% interest in this property from our joint venture partner. As part of this transaction, the loan was repaid.
(5)In March 2020, the loan was assumed by the buyer in connection with the sale of the property.
(6)This loan matured in August 2020. The Company is in discussions with the lender on resolution.
(7)This loan is a $225.0 million construction facility, with reductions in interest cost based on meeting certain conditions, and has an initial three-year term with two one-year extension options. Advances under the loan are subject to incurred costs and funded equity requirements.
(8)This loan is a $600.0 million construction facility and has an initial three-year term with two one-year extension options. Advances under the loan are subject to incurred costs and funded equity requirements.
(9)In June 2020, we exercised a one-year extension option which extended the maturity date to June 2021. At September 30, 2020, there was no outstanding balance on the $400 million facility.