Mortgages and Other Loans Payable (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Mortgages and Other Loans Payable

The mortgages and other loans payable as of March 31, 2026 and December 31, 2025, respectively, were as follows (dollars in thousands):


Property	Current Maturity Date	Final Maturity Date (1)	Interest Rate (2)		March 31, 2026		December 31, 2025
Fixed Rate Debt:
10 East 53rd Street	May 2026	May 2028		5.37%	$	204,438	$	204,550
7 Dey Street	November 2026	November 2026		6.35%	190,148		190,149
100 Church Street	December 2026	June 2028		5.89%	365,000		365,000
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
315 West 33rd Street	February 2027	February 2027		4.24%	250,000		250,000
500 Park Avenue	January 2028	January 2030		6.57%	80,000		80,000
800 Third Avenue	February 2029	February 2031		5.15%	177,000		177,000
610 Park Avenue	November 2029	November 2029		4.65%	12,200		—
Park Avenue Tower	February 2031	February 2031		5.30%	480,000		—
420 Lexington Avenue	October 2040	October 2040		8.24%	254,107		258,523






Total fixed rate debt					$	2,562,893	$	2,075,222
Floating Rate Debt:
Fund subscription line ⁽³⁾	August 2027	August 2028	S+	2.20%	$	136,390	$	79,277











Total floating rate debt					$	136,390	$	79,277
Total fixed rate and floating rate debt					$	2,699,283	$	2,154,499
Mortgages reclassed to liabilities related to assets held for sale					(190,148)		—
Total mortgages and other loans payable					$	2,509,135	$	2,154,499
Deferred financing costs, net of amortization					(17,286)		(8,450)
Total mortgages and other loans payable, net					$	2,491,849	$	2,146,049

(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 March 31, 2026, taking into account interest rate hedges in effect during the period. Floating rate debt is presented with the stated spread over Term or Alternative SOFR ("S"), unless otherwise specified.

(3)The Fund has access to a subscription line of credit with a maximum commitment of $200 million as of March 31, 2026, which is secured by investor capital commitments. The facility is used to provide short term funding for acquisitions prior to capital calls and is repaid through capital contributions. The subscription line of credit is non-recourse to the Company.