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Mortgages and Other Loans Payable (Tables)
 9 Months Ended
Sep. 30, 2022
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 as of September 30, 2022 and December 31, 2021, respectively, were as follows (dollars in thousands):
PropertyCurrent Maturity
Date
Final Maturity Date (1)
Interest
Rate (2)
September 30, 2022December 31, 2021
Fixed Rate Debt:
420 Lexington AvenueOctober 2024October 20403.99%$284,492 $288,660 
Landmark SquareJanuary 2027January 20274.90%100,000 100,000 
485 Lexington AvenueFebruary 2027February 20274.25%450,000 450,000 
245 Park AvenueJune 2027June 20274.22%1,712,750 — 
100 Church Street— 200,212 
1080 Amsterdam— 34,537 
Total fixed rate debt$2,547,242 $1,073,409 
Floating Rate Debt:
7 Dey / 185 Broadway (3)
November 2022November 2023L+2.85%$210,148 $198,169 
719 Seventh AvenueSeptember 2023September 2023L+1.20%50,000 50,000 
690 Madison AvenueJuly 2024July 2025L+1.50%60,000 60,000 
100 Church StreetJune 2025June 2027S+4.98%370,000 — 
609 Fifth Avenue— 52,882 
2017 Master Repurchase Agreement (4)
— — 
Total floating rate debt$690,148 $361,051 
Total fixed rate and floating rate debt$3,237,390 $1,434,460 
Mortgages reclassed to liabilities related to assets held for sale— (34,537)
Total mortgages and other loans payable$3,237,390 $1,399,923 
Deferred financing costs, net of amortization(8,374)(5,537)
Total mortgages and other loans payable, net$3,229,016 $1,394,386 
(1)Reflects exercise of all available 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, 2022, 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 ("L") or Term SOFR ("S"), unless otherwise specified.
(3)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. Both one year extension options were exercised in October 2021 and 2022, respectively. Advances under the loan are subject to incurred costs and funded equity requirements.
(4)The facility matured in June 2022 and the Company is in discussions with the lender on an extension. As of September 30, 2022, there was no outstanding balance on the facility.