Debt

6 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Debt

8.Debt

On May 5, 2025, we terminated our revolving credit facility following the sale of a 25.0% equity interest in One Front Street, which was one of the two remaining properties supporting our credit facility. There was no outstanding balance on the facility at the time of termination.

The following table summarizes our consolidated outstanding debt.

				Interest Rate
	Paramount	Maturity	Fixed/	as of	As of
(Amounts in thousands)	Ownership	Date	Variable Rate	June 30, 2025	June 30, 2025			December 31, 2024
Notes and mortgages payable:
1633 Broadway	90.0%	Dec-2029	Fixed	2.99%	$	1,250,000		$	1,250,000
One Market Plaza	49.0%	Feb-2027	Fixed	4.08%		850,000			850,000
1301 Avenue of the Americas (1)	100.0%	Aug-2026	SOFR + 277 bps (2)	6.27%		860,000			860,000
31 West 52nd Street (1)	100.0%	Jun-2026	Fixed	3.80%		500,000			500,000
300 Mission Street	31.1%	Oct-2026	Fixed	4.50%		232,050			232,050
Total notes and mortgages payable				4.21%		3,692,050			3,692,050
Less: unamortized deferred financing costs						(11,193	)		(15,420	)
Total notes and mortgages payable, net					$	3,680,857		$	3,676,630

(1)These loans mature in the near term. Although these loan balances exceed our projected liquidity at the time of their respective maturities, we are currently exploring various refinancing options and believe that, based on each property’s operating performance, as well as current discussions with the lenders with respect to 1301 Avenue of the Americas, it is probable that we will be successful in refinancing each loan prior to its maturity.

(2)Represents variable rate loans, where Term Secured Overnight Financing Rate (“SOFR”) has been capped at 3.50% through August 2025. See Note 9, Derivative Instruments and Hedging Activities.