Mortgages and Other Loans Payable (Tables)

6 Months Ended

Jun. 30, 2025

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, 2025 and December 31, 2024, respectively, were as follows (dollars in thousands):

Property	Current Maturity Date	Final Maturity Date (1)	Interest Rate (2)		June 30, 2025		December 31, 2024
Fixed Rate Debt:
100 Church Street	June 2025	June 2025 ⁽³⁾		5.89%	$	370,000	$	370,000
7 Dey / 185 Broadway	November 2025	November 2026		6.65%	190,149		190,148
10 East 53rd Street	May 2026	May 2028		5.37%	204,775		205,000
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
500 Park Avenue	January 2028	January 2030		6.57%	80,000		—
420 Lexington Avenue	October 2040	October 2040		8.24%	272,325		272,326
Total fixed rate debt					$	1,667,249	$	1,587,474
Floating Rate Debt:
100 Park Avenue	December 2025	December 2027	S+	2.37%	$	376,153	$	360,000
CMBS Repurchase Facility					—		3,550
Total floating rate debt					$	376,153	$	363,550
Total mortgages and other loans payable					$	2,043,402	$	1,951,024
Deferred financing costs, net of amortization					(7,580)		(6,389)
Total mortgages and other loans payable, net					$	2,035,822	$	1,944,635

(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, 2025, 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)The Company is in discussions with the lender on resolution of the past maturity.