Mortgages and Other Loans Payable (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2024 and 2023, respectively, were as follows (dollars in thousands):

Property	Current Maturity Date	Final Maturity Date (1)	Interest Rate (2)		December 31, 2024		December 31, 2023
Fixed Rate Debt:
10 East 53rd Street	May 2025	May 2028		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		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
420 Lexington Avenue	October 2040	October 2040		8.24%	272,326		277,238
Total fixed rate debt					$	1,587,474	$	1,387,386
Floating Rate Debt:
CMBS Repurchase Facility	June 2025	June 2025	S+	1.75%	$	3,550	$	—
100 Park Avenue	June 2025	December 2027	S+	2.25%	360,000		—
690 Madison Avenue					—		60,000
719 Seventh Avenue					—		50,000
Total floating rate debt					$	363,550	$	110,000
Total mortgages and other loans payable					$	1,951,024	$	1,497,386
Deferred financing costs, net of amortization					(6,389)		(6,067)
Total mortgages and other loans payable, net					$	1,944,635	$	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 December 31, 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.