Mortgages and Other Loans Payable (Tables)

6 Months Ended

Jun. 30, 2024

Mortgages and Other Loans Payable

Schedule of Mortgages and Other Loans Payable

The mortgages and other loans payable collateralized by the respective properties and assignment of leases or debt investments as of June 30, 2024 and December 31, 2023, respectively, were as follows (dollars in thousands):

Property	Maturity Date	Final Maturity Date (1)	Interest Rate (2)		June 30, 2024		December 31, 2023
Fixed Rate Debt:
420 Lexington Avenue	October 2024	October 2040		3.99%	$	274,251	$	277,238
10 East 53rd Street	May 2025	May 2028 (3)		5.45%	205,000		—
100 Church Street	June 2025	June 2027		5.89%	370,000		370,000
7 Dey / 185 Broadway	November 2025	November 2026 (3)		6.65%	190,148		190,148
Landmark Square	January 2027	January 2027		4.90%	100,000		100,000
485 Lexington Avenue	February 2027	February 2027		4.25%	450,000		450,000
Total fixed rate debt					$	1,589,399	$	1,387,386
Floating Rate Debt:
690 Madison Avenue (4)	July 2025	July 2025	S+	0.50%	$	60,493	$	60,000
719 Seventh Avenue					—		50,000
Total floating rate debt					$	60,493	$	110,000
Total mortgages and other loans payable					$	1,649,892	$	1,497,386
Deferred financing costs, net of amortization					(5,398)		(6,067)
Total mortgages and other loans payable, net					$	1,644,494	$	1,491,319

(1)Reflects exercise of all available extension options. The ability to exercise extension options may be subject to certain conditions, including the operating performance of the property.

(2)Interest rate as of June 30, 2024, taking into account interest rate hedges in effect during the period. Floating rate debt is presented with the stated spread over Term SOFR ("S"), unless otherwise specified.

(3)As-of-right extension.

(4)Included in the Company's alternative strategy portfolio.