XML 117 R94.htm IDEA: XBRL DOCUMENT v3.25.4
Investments in Unconsolidated Joint Ventures - Schedule of Mortgage Notes and Other Loans Payable Collateralized by the Respective Joint Venture Properties and Assignment of Leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Total fixed rate debt $ 2,075,222 $ 1,587,474
Total floating rate debt 79,277 363,550
Due from joint ventures    
Debt Instrument [Line Items]    
Total fixed rate debt 10,791,783 11,551,101
Total floating rate debt 1,687,249 780,889
Total joint venture mortgages and other loans payable, net 12,378,150 12,234,261
Deferred financing costs, net (100,882) (97,729)
Total joint venture mortgages and other loans payable 12,479,032 12,331,990
Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt 5,415,627 5,728,933
Total floating rate debt 481,571 298,929
Total joint venture mortgages and other loans payable, net 5,846,722 5,978,804
Deferred financing costs, net (50,476) (49,058)
Total joint venture mortgages and other loans payable $ 5,897,198 6,027,862
650 Fifth Avenue | Wharton Properties | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 50.00%  
Interest rate, fixed rate debt (as a percent) 5.45%  
Total fixed rate debt $ 65,000 65,000
650 Fifth Avenue | Wharton Properties | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 32,500 32,500
15 Beekman | A fund managed by Meritz Alternative Investment Management | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 20.00%  
Interest rate, fixed rate debt (as a percent) 5.99%  
Total fixed rate debt $ 120,000 120,000
15 Beekman | A fund managed by Meritz Alternative Investment Management | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 24,000 24,000
115 Spring Street | Private Investors | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 51.00%  
Interest rate, fixed rate debt (as a percent) 5.50%  
Total fixed rate debt $ 65,550 65,550
115 Spring Street | Private Investors | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 33,431 33,431
1515 Broadway | Allianz Real Estate of America | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 56.87%  
Interest rate, fixed rate debt (as a percent) 3.93%  
Total fixed rate debt $ 718,949 740,947
1515 Broadway | Allianz Real Estate of America | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 408,859 421,369
919 Third Avenue | New York State Teacher's Retirement System | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 51.00%  
Interest rate, fixed rate debt (as a percent) 6.11%  
Total fixed rate debt $ 500,000 500,000
919 Third Avenue | New York State Teacher's Retirement System | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 255,000 255,000
280 Park Avenue | Vornado Realty Trust | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 50.00%  
Interest rate, fixed rate debt (as a percent) 5.84%  
Total fixed rate debt $ 1,075,000 1,075,000
280 Park Avenue | Vornado Realty Trust | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 537,500 537,500
245 Park Avenue | U.S. Affiliate of Mori Trust Co., Ltd | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 50.10%  
Interest rate, fixed rate debt (as a percent) 4.30%  
Total fixed rate debt $ 1,768,000 1,768,000
245 Park Avenue | U.S. Affiliate of Mori Trust Co., Ltd | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 885,768 885,768
Worldwide Plaza | RXR Realty / New York REIT | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 25.05%  
Interest rate, fixed rate debt (as a percent) 3.98%  
Total fixed rate debt $ 1,200,000 1,200,000
Worldwide Plaza | RXR Realty / New York REIT | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 300,600 299,400
220 East 42nd Street | A fund managed by Meritz Alternative Investment Management | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 51.00%  
Interest rate, fixed rate debt (as a percent) 6.77%  
Total fixed rate debt $ 496,412 496,412
220 East 42nd Street | A fund managed by Meritz Alternative Investment Management | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt 253,170 253,170
100 Park Avenue    
Debt Instrument [Line Items]    
Total floating rate debt $ 0 360,000
100 Park Avenue | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 50.80%  
100 Park Avenue | Rockpoint Capital | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 50.80%  
Interest rate, fixed rate debt (as a percent) 5.73%  
Total fixed rate debt $ 382,872 0
100 Park Avenue | Rockpoint Capital | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 194,499 0
11 Madison Avenue | PGIM Real Estate | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 60.00%  
Interest rate, fixed rate debt (as a percent) 5.62%  
Total fixed rate debt $ 1,400,000 1,400,000
11 Madison Avenue | PGIM Real Estate | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 840,000 840,000
One Vanderbilt Avenue | National Pension Service of Korea / Hines Interest LP / Mori Building Co., Ltd | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 55.01%  
Interest rate, fixed rate debt (as a percent) 2.95%  
Total fixed rate debt $ 3,000,000 3,000,000
One Vanderbilt Avenue | National Pension Service of Korea / Hines Interest LP / Mori Building Co., Ltd | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt 1,650,300 1,800,300
800 Third Avenue    
Debt Instrument [Line Items]    
Total fixed rate debt $ 177,000 0
800 Third Avenue | Private Investors | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent)  
Interest rate, fixed rate debt (as a percent)  
Total fixed rate debt $ 0 177,000
800 Third Avenue | Private Investors | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt $ 0 107,120
450 Park Avenue | Korean Institutional Investor / Israeli Institutional Investor | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 25.10%  
Interest rate, fixed rate debt (as a percent)  
Total fixed rate debt $ 0 284,835
Interest rate, floating rate debt (as a percent) 2.10%  
Total floating rate debt $ 290,435 0
450 Park Avenue | Korean Institutional Investor / Israeli Institutional Investor | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt 0 71,494
Total floating rate debt 72,899 0
One Madison Avenue | Due from joint ventures | Construction Loans    
Debt Instrument [Line Items]    
Maximum facility capacity $ 1,250,000  
One Madison Avenue | National Pension Service of Korea / Hines Interest LP / International Investor | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 25.50%  
Interest rate, fixed rate debt (as a percent)  
Total fixed rate debt $ 0 658,357
Interest rate, floating rate debt (as a percent) 2.60%  
Total floating rate debt $ 1,163,814 354,757
One Madison Avenue | National Pension Service of Korea / Hines Interest LP / International Investor | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total fixed rate debt 0 167,881
Total floating rate debt $ 296,772 90,463
11 West 34th Street | Private Investor / Wharton Properties | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 30.00%  
Interest rate, floating rate debt (as a percent) 1.45%  
Total floating rate debt $ 23,000 23,000
11 West 34th Street | Private Investor / Wharton Properties | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total floating rate debt $ 6,900 6,900
1552-1560 Broadway | Korean Institutional Investor / Israeli Institutional Investor | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 50.00%  
650 Fifth Avenue | Wharton Properties | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent) 50.00%  
Interest rate, floating rate debt (as a percent) 2.25%  
Total floating rate debt $ 210,000 210,000
650 Fifth Avenue | Wharton Properties | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total floating rate debt $ 105,000 105,000
1552 Broadway | Wharton Properties | Due from joint ventures    
Debt Instrument [Line Items]    
Economic Interest (as a percent)  
Interest rate, floating rate debt (as a percent)  
Total floating rate debt $ 0 193,132
1552 Broadway | Wharton Properties | Due from joint ventures | Common Stock    
Debt Instrument [Line Items]    
Total floating rate debt $ 0 $ 96,566