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Subsequent Events
3 Months Ended
Mar. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events

21.   Subsequent Events

 

On May 3, 2016, we completed a $500,000,000 refinancing of 31 West 52nd Street, a 786,647 square foot Class A office building located between Fifth Avenue and Avenue of the Americas in the heart of Midtown Manhattan. The new 10 year loan is interest only at a fixed rate of 3.80%. We realized net proceeds of approximately $65,000,000 after the repayment of the existing loan, swap breakage costs and closing costs. The property was previously encumbered by a $413,490,000 loan that was scheduled to mature in December 2017 and had a weighted average interest rate of 4.23%.