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Debt (Tables)
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Long-term debt Debt consisted of the following as of September 30, 2021 and December 31, 2020 (amounts in thousands):
Principal BalanceAs of September 30, 2021
September 30, 2021December 31, 2020Stated
Rate
Effective
Rate(1)
Maturity
Date(2)
Mortgage debt collateralized by:
Fixed rate mortgage debt
Metro Center$85,627 $87,382 3.59 %3.66 %11/5/2024
10 Union Square50,000 50,000 3.70 %3.97 %4/1/2026
1542 Third Avenue30,000 30,000 4.29 %4.53 %5/1/2027
First Stamford Place(3)
180,000 180,000 4.28 %4.74 %7/1/2027
1010 Third Avenue and 77 West 55th Street36,875 37,477 4.01 %4.22 %1/5/2028
250 West 57th Street180,000 180,000 2.83 %3.23 %12/1/2030
10 Bank Street31,329 32,025 4.23 %4.37 %6/1/2032
383 Main Avenue30,000 30,000 4.44 %4.55 %6/30/2032
1333 Broadway160,000 160,000 4.21 %4.28 %2/5/2033
Total mortgage debt783,831 786,884 
Senior unsecured notes:(4)
   Series A100,000 100,000 3.93 %3.96 %3/27/2025
   Series B125,000 125,000 4.09 %4.12 %3/27/2027
   Series C125,000 125,000 4.18 %4.21 %3/27/2030
   Series D115,000 115,000 4.08 %4.11 %1/22/2028
   Series E160,000 160,000 4.26 %4.27 %3/22/2030
   Series F175,000 175,000 4.44 %4.45 %3/22/2033
   Series G100,000 100,000 3.61 %4.89 %3/17/2032
   Series H75,000 75,000 3.73 %5.00 %3/17/2035
Unsecured term loan facility (4)
215,000 215,000 
LIBOR plus 1.20%
3.57 %3/19/2025
Unsecured revolving credit facility (4)
— — 
LIBOR plus 1.30%
— 3/31/2025
Unsecured term loan facility (4)
175,000 175,000 
LIBOR plus 1.50%
3.67 %12/31/2026
Total principal2,148,831 2,151,884 
Deferred financing costs, net
(13,491)(15,235)
Total$2,135,340 $2,136,649 
______________

(1)The effective rate is the yield as of September 30, 2021 and includes the stated interest rate, deferred financing cost amortization and interest associated with variable to fixed interest rate swap agreements.
(2)Pre-payment is generally allowed for each loan upon payment of a customary pre-payment penalty.
(3)Represents a $164 million mortgage loan bearing interest at 4.09% and a $16 million loan bearing interest at 6.25%.
(4)At September 30, 2021, we were in compliance with all debt covenants.
Aggregate required principal payments Aggregate required principal payments at September 30, 2021 are as follows (amounts in thousands):
YearAmortizationMaturitiesTotal
2021$1,037 $— $1,037 
20225,628 — 5,628 
20237,876 — 7,876 
20247,958 77,675 85,633 
20255,826 315,000 320,826 
Thereafter20,084 1,707,747 1,727,831 
Total $48,409 $2,100,422 $2,148,831 
Deferred financing costs, net Deferred costs, net, consisted of the following as of September 30, 2021 and December 31, 2020 (amounts in thousands):  
September 30, 2021December 31, 2020
Leasing costs$202,247 $203,905 
Acquired in-place lease value and deferred leasing costs161,191 181,336 
Acquired above-market leases35,330 40,398 
398,768 425,639 
Less: accumulated amortization(217,273)(223,918)
Total deferred costs, net, excluding net deferred financing costs$181,495 $201,721 
Deferred financing costs, net, consisted of the following at September 30, 2021 and December 31, 2020 (amounts in thousands):
 September 30, 2021December 31, 2020
Financing costs$42,710 $35,365 
Less: accumulated amortization(21,388)(17,998)
Total deferred financing costs, net$21,322 $17,367