XML 45 R35.htm IDEA: XBRL DOCUMENT v3.23.2
Debt - Long-Term Debt (Details)
6 Months Ended
Jun. 30, 2023
USD ($)
May 18, 2023
Dec. 31, 2022
USD ($)
Debt Instrument [Line Items]      
Outstanding borrowings $ 0   $ 0
Total principal 2,261,361,000    
Deferred financing costs, net (14,542,000)   (16,720,000)
Adjustment benchmark   0.00114  
Mortgages, senior notes, and unsecured term loan facilities, not including unsecured revolving credit facility      
Debt Instrument [Line Items]      
Total principal 2,261,361,000   2,265,630,000
Deferred financing costs, net (10,619,000)   (11,748,000)
Unamortized debt discount (7,354,000)   (7,745,000)
Total 2,243,388,000   2,246,137,000
Metro Center | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 81,344,000   82,596,000
Stated Rate (as a percent) 3.59%    
Effective Rate (as a percent) 3.67%    
10 Union Square | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 50,000,000   50,000,000
Stated Rate (as a percent) 3.70%    
Effective Rate (as a percent) 3.97%    
1542 Third Avenue | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 30,000,000   30,000,000
Stated Rate (as a percent) 4.29%    
Effective Rate (as a percent) 4.53%    
First Stamford Place | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 177,347,000   178,823,000
Stated Rate (as a percent) 4.28%    
Effective Rate (as a percent) 4.73%    
First Stamford Place - First Lien | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Stated Rate (as a percent) 4.09%    
Face amount of debt instrument $ 164,000,000    
First Stamford Place - Second Lien | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Stated Rate (as a percent) 6.25%    
Face amount of debt instrument $ 13,300,000    
1010 Third Avenue and 77 West 55th Street | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 35,399,000   35,831,000
Stated Rate (as a percent) 4.01%    
Effective Rate (as a percent) 4.21%    
250 West 57th Street | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 180,000,000   180,000,000
Stated Rate (as a percent) 2.83%    
Effective Rate (as a percent) 3.21%    
1333 Broadway | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 160,000,000   160,000,000
Stated Rate (as a percent) 4.21%    
Effective Rate (as a percent) 4.29%    
345 East 94th Street - Series A(5) | Revolving credit facility | SOFR      
Debt Instrument [Line Items]      
Variable rate, effective percentage (as a percent) 70.00%    
Basis spread on variable rate (as a percent) 0.95%    
345 East 94th Street - Series A(5) | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 43,600,000   43,600,000
Effective Rate (as a percent) 3.56%    
345 East 94th Street - Series B(5) | Revolving credit facility | SOFR      
Debt Instrument [Line Items]      
Basis spread on variable rate (as a percent) 2.24%    
345 East 94th Street - Series B(5) | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 7,544,000   7,865,000
Effective Rate (as a percent) 3.56%    
561 10th Avenue - Series A(5) | Revolving credit facility | SOFR      
Debt Instrument [Line Items]      
Variable rate, effective percentage (as a percent) 70.00%    
Basis spread on variable rate (as a percent) 1.07%    
561 10th Avenue - Series A(5) | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 114,500,000   114,500,000
Effective Rate (as a percent) 3.85%    
561 10th Avenue - Series B(5) | Revolving credit facility | SOFR      
Debt Instrument [Line Items]      
Basis spread on variable rate (as a percent) 2.45%    
561 10th Avenue - Series B(5) | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 16,627,000   17,415,000
Effective Rate (as a percent) 3.85%    
Total mortgage debt | Fixed rate mortgage debt      
Debt Instrument [Line Items]      
Fixed rate mortgage debt $ 896,361,000   900,630,000
Series A | Senior unsecured notes      
Debt Instrument [Line Items]      
Total $ 100,000,000   100,000,000
Stated Rate (as a percent) 3.93%    
Effective Rate (as a percent) 3.96%    
Series B | Senior unsecured notes      
Debt Instrument [Line Items]      
Total $ 125,000,000   125,000,000
Stated Rate (as a percent) 4.09%    
Effective Rate (as a percent) 4.12%    
Series C | Senior unsecured notes      
Debt Instrument [Line Items]      
Total $ 125,000,000   125,000,000
Stated Rate (as a percent) 4.18%    
Effective Rate (as a percent) 4.21%    
Series D | Senior unsecured notes      
Debt Instrument [Line Items]      
Total $ 115,000,000   115,000,000
Stated Rate (as a percent) 4.08%    
Effective Rate (as a percent) 4.11%    
Series E | Senior unsecured notes      
Debt Instrument [Line Items]      
Total $ 160,000,000   160,000,000
Stated Rate (as a percent) 4.26%    
Effective Rate (as a percent) 4.27%    
Series F | Senior unsecured notes      
Debt Instrument [Line Items]      
Total $ 175,000,000   175,000,000
Stated Rate (as a percent) 4.44%    
Effective Rate (as a percent) 4.45%    
Series G | Senior unsecured notes      
Debt Instrument [Line Items]      
Total $ 100,000,000   100,000,000
Stated Rate (as a percent) 3.61%    
Effective Rate (as a percent) 4.89%    
Series H | Senior unsecured notes      
Debt Instrument [Line Items]      
Total $ 75,000,000   75,000,000
Stated Rate (as a percent) 3.73%    
Effective Rate (as a percent) 5.00%    
Unsecured term loan facilities | Revolving credit facility      
Debt Instrument [Line Items]      
Outstanding borrowings $ 215,000,000   215,000,000
Effective Rate (as a percent) 4.22%    
Unsecured term loan facilities | Revolving credit facility | SOFR      
Debt Instrument [Line Items]      
Basis spread on variable rate (as a percent) 1.20%    
Unsecured revolving credit facility | Revolving credit facility      
Debt Instrument [Line Items]      
Outstanding borrowings $ 0   0
Effective Rate (as a percent) 0.00%    
Unsecured revolving credit facility | Revolving credit facility | SOFR      
Debt Instrument [Line Items]      
Basis spread on variable rate (as a percent) 1.30%    
Unsecured term loan facility | Revolving credit facility      
Debt Instrument [Line Items]      
Outstanding borrowings $ 175,000,000   $ 175,000,000
Effective Rate (as a percent) 4.51%    
Unsecured term loan facility | Revolving credit facility | SOFR      
Debt Instrument [Line Items]      
Basis spread on variable rate (as a percent) 1.50%