Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2023

Interest Rate Swap [Member]

Derivative [Line Items]

Schedule of Interest Rate Swaps and Interest Rate Caps

The tables below provide additional details on our interest rate swaps and interest rate caps that are designated as cash flow hedges.

Notional

Effective

Maturity

Benchmark

Strike

Fair Value as of

Property

Amount

Date

Date

Rate

Rate

September 30, 2023

December 31, 2022

(Amounts in thousands)

1301 Avenue of the Americas

$

500,000

Jul-2021

Aug-2024

SOFR

0.49

%

$

20,865

$

32,681

Total interest rate swap assets designated as cash flow hedges (included in "other assets")

$

20,865

$

32,681

Interest Rate Cap [Member]

Derivative [Line Items]

Schedule of Interest Rate Swaps and Interest Rate Caps

	Notional		Effective	Maturity	Benchmark	Strike			Fair Value as of
Property	Amount		Date	Date	Rate	Rate			September 30, 2023		December 31, 2022
(Amounts in thousands)
1301 Avenue of the Americas	$	360,000	Aug-2023	Aug-2024	SOFR		4.50	%	$	2,776	$	-
1301 Avenue of the Americas		360,000	Jul-2021	Aug-2023	LIBOR		2.00	%		-		6,123
Total interest rate cap assets designated as cash flow hedges (included in "other assets")									$	2,776	$	6,123