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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Real estate, at cost    
Land $ 1,966,237,000 $ 1,966,237,000
Buildings and improvements 6,325,097,000 6,250,379,000
Rental property, at cost 8,291,334,000 8,216,616,000
Accumulated depreciation and amortization (1,639,529,000) (1,471,819,000)
Real estate, net 6,651,805,000 6,744,797,000
Cash and cash equivalents 375,056,000 428,208,000
Restricted cash 180,391,000 81,391,000
Accounts and other receivables 18,229,000 18,053,000
Real estate related fund investments 0 775,000
Investments in unconsolidated real estate related funds 4,649,000 4,549,000
Investments in unconsolidated joint ventures 85,952,000 132,239,000
Deferred rent receivable 356,425,000 351,209,000
Deferred charges, net of accumulated amortization of $91,818 and $82,265 100,684,000 108,751,000
Intangible assets, net of accumulated amortization of $147,133 and $194,536 50,492,000 68,005,000
Other assets 47,820,000 68,238,000
Total assets [1] 7,871,503,000 8,006,215,000
Liabilities and Equity    
Notes and mortgages payable, net of unamortized deferred financing costs of $15,420 and $13,566 3,676,630,000 3,803,484,000
Revolving credit facility 0 0
Accounts payable and accrued expenses 119,881,000 114,463,000
Dividends and distributions payable 0 8,360,000
Intangible liabilities, net of accumulated amortization of $93,748 and $108,817 20,870,000 28,003,000
Other liabilities 44,625,000 37,017,000
Total liabilities [1] 3,862,006,000 3,991,327,000
Commitments and contingencies
Paramount Group, Inc. equity:    
Common stock $0.01 par value per share; authorized 900,000,000 shares; issued and outstanding 217,527,797 and 217,366,089 shares in 2024 and 2023, respectively 2,175,000 2,173,000
Additional paid-in-capital 4,144,301,000 4,133,801,000
Earnings less than distributions (1,005,627,000) (943,935,000)
Accumulated other comprehensive income 428,000 11,246,000
Paramount Group, Inc. equity 3,141,277,000 3,203,285,000
Noncontrolling interests in:    
Consolidated joint ventures 495,340,000 413,925,000
Consolidated real estate related funds 82,875,000 110,589,000
Operating Partnership (20,057,699 and 19,468,095 units outstanding) 290,005,000 287,089,000
Total equity 4,009,497,000 4,014,888,000
Total liabilities and equity $ 7,871,503,000 $ 8,006,215,000
[1] Represents the consolidated assets and liabilities of Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). The Operating Partnership is a consolidated variable interest entity (“VIE”), of which we are the sole general partner and own approximately 91.6% as of December 31, 2024. As of December 31, 2024, the assets and liabilities of the Operating Partnership include $3,834,072 and $2,393,672 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”).