Debt

9 Months Ended

Sep. 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.

On August 5, 2025, we completed a $900,000,000 refinancing of 1301 Avenue of the Americas, a 1.8 million square-foot Class A office building in New York City. The new five-year interest-only loan has a fixed rate of 6.39% and matures in August 2030. The proceeds from the refinancing were used to repay the existing $860,000,000 loan that bore interest at SOFR plus 277 basis points and was scheduled to mature in August 2026. We retained net proceeds of approximately $26,000,000 after the repayment of the existing loan and closing costs.

The following table summarizes our consolidated outstanding debt.

				Interest Rate
	Paramount	Maturity	Fixed/	as of	As of
(Amounts in thousands)	Ownership	Date	Variable Rate	September 30, 2025	September 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	100.0%	Aug-2030	Fixed	6.39%		900,000			860,000
31 West 52nd Street (1)	100.0%	Jun-2026	Fixed	3.80%		500,000			500,000
300 Mission Street (1)	31.1%	Oct-2026	Fixed	4.50%		232,050			232,050
Total notes and mortgages payable				4.26%		3,732,050			3,692,050
Less: unamortized deferred financing costs						(20,546	)		(15,420	)
Total notes and mortgages payable, net					$	3,711,504		$	3,676,630

(1)These loans mature within the next twelve months. 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, it is probable that we will be successful in refinancing each loan prior to its maturity.