Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Debt

8. Debt

The following table summarizes our consolidated outstanding debt.

	Maturity	Fixed/	Interest Rate as of			As of December 31,
(Amounts in thousands)	Date	Variable Rate	December 31, 2022			2022			2021
Notes and mortgages payable:
1633 Broadway (1)	Dec-2029	Fixed		2.99	%	$	1,250,000		$	1,250,000
One Market Plaza (1)	Feb-2024 (2)	Fixed		4.03	%		975,000			975,000
1301 Avenue of the Americas
	Aug-2026	Fixed (3)		2.46	%		500,000			500,000
	Aug-2026	L + 356 bps (4)		5.56	%		360,000			360,000
				3.76	%		860,000			860,000
31 West 52nd Street	Jun-2026	Fixed		3.80	%		500,000			500,000
300 Mission Street (1)	Oct-2023 (2)	Fixed		3.65	%		273,000			273,000
Total notes and mortgages payable				3.58	%		3,858,000			3,858,000
Less: unamortized deferred financing costs							(17,682	)		(22,380	)
Total notes and mortgages payable, net						$	3,840,318		$	3,835,620
$750 Million Revolving    Credit Facility	Mar-2026	SOFR + 115 bps	n/a			$	-		$	-

(1)Our ownership interests in 1633 Broadway, One Market Plaza and 300 Mission Street are 90.0%, 49.0% and 31.1%, respectively.

(2)We are currently exploring various alternatives to refinance these loans and believe it is probable that we will be successful in refinancing them prior to their maturity.

(3)Represents variable rate loans that have been fixed by interest rate swaps through August 2024. See Note 9, Derivative Instruments and Hedging Activities.

(4)Represents variable rate loans, where LIBOR has been capped at 2.00% through August 2023. See Note 9, Derivative Instruments and Hedging Activities.

The following table summarizes the principal repayments required for the next five years and thereafter in connection with our consolidated notes and mortgages payable and revolving credit facility as of December 31, 2022.

			Notes and		Revolving
(Amounts in thousands)	Total		Mortgages Payable		Credit Facility
2023	$	273,000	$	273,000	$	-
2024		975,000		975,000		-
2025		-		-		-
2026		1,360,000		1,360,000		-
2027		-		-		-
Thereafter		1,250,000		1,250,000		-