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Debt (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Schedule of long-term debt Debt consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands):
Principal BalanceAs of June 30, 2023
June 30, 2023December 31, 2022Stated
Rate
Effective
Rate(1)
Maturity
Date(2)
Mortgage debt collateralized by:
Fixed rate mortgage debt
Metro Center$81,344 $82,596 3.59 %3.67 %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)
177,347 178,823 4.28 %4.73 %7/1/2027
1010 Third Avenue and 77 West 55th Street35,399 35,831 4.01 %4.21 %1/5/2028
250 West 57th Street180,000 180,000 2.83 %3.21 %12/1/2030
1333 Broadway160,000 160,000 4.21 %4.29 %2/5/2033
345 East 94th Street - Series A(5)
43,600 43,600 
70.0% of SOFR plus 0.95%
3.56 %11/1/2030
345 East 94th Street - Series B(5)
7,544 7,865 
SOFR plus 2.24%
3.56 %11/1/2030
561 10th Avenue - Series A(5)
114,500 114,500 
70.0% of SOFR plus 1.07%
3.85 %11/1/2033
561 10th Avenue - Series B(5)
16,627 17,415 
SOFR plus 2.45%
3.85 %11/1/2033
Total mortgage debt896,361 900,630 
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 
SOFR plus 1.20%
4.22 %3/19/2025
Unsecured revolving credit facility (4)
— — 
SOFR plus 1.30%
— 3/31/2025
Unsecured term loan facility (4)
175,000 175,000 
SOFR plus 1.50%
4.51 %12/31/2026
Total principal2,261,361 2,265,630 
Deferred financing costs, net(10,619)(11,748)
Unamortized debt discount(7,354)(7,745)
Total$2,243,388 $2,246,137 
______________

(1)The effective rate is the yield as of June 30, 2023 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 $13.3 million loan bearing interest at 6.25%.
(4)At June 30, 2023, we were in compliance with all debt covenants.
(5)As of May 18, 2023, the benchmark index rate was converted from LIBOR to SOFR, plus a benchmark adjustment of 11.4 basis points .
Schedule of aggregate required principal payments Aggregate required principal payments at June 30, 2023 are as follows (amounts in thousands):
YearAmortizationMaturitiesTotal
2023$4,363 $— $4,363 
20248,861 77,675 86,536 
20256,893 315,000 321,893 
20267,330 225,000 232,330 
20276,461 319,000 325,461 
Thereafter22,079 1,268,699 1,290,778 
Total $55,987 $2,205,374 $2,261,361 
Schedule of deferred financing costs, net Deferred costs, net, consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands):  
June 30, 2023December 31, 2022
Leasing costs$219,404 $218,707 
Acquired in-place lease value and deferred leasing costs159,356 160,683 
Acquired above-market leases25,880 27,833 
404,640 407,223 
Less: accumulated amortization(231,886)(223,246)
Total deferred costs, net, excluding net deferred financing costs$172,754 $183,977 
Deferred financing costs, net, consisted of the following at June 30, 2023 and December 31, 2022 (amounts in thousands):
 June 30, 2023December 31, 2022
Financing costs$43,473 $43,473 
Less: accumulated amortization(28,931)(26,753)
Total deferred financing costs, net$14,542 $16,720