Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Summary of Outstanding Debt

The following is a summary of our outstanding debt.

	Maturity	Fixed/Variable	Interest Rate at			As of
(Amounts in thousands)	Date	Rate	September 30, 2016			September 30, 2016			December 31, 2015
Notes and mortgages payable
1633 Broadway
	Dec-2022	Fixed (1)		3.54	%	$	1,000,000		$	1,000,000
	Dec-2022	Variable (2)		2.27	%		13,544			13,544
				3.52	%		1,013,544			1,013,544
900 Third Avenue (3)
	Nov-2017	Fixed (1)		5.98	%		162,000			162,000
	Nov-2017	Variable (4)		1.79	%		112,337			112,337
				4.26	%		274,337			274,337
31 West 52nd Street
	May-2026	Fixed		3.80	%		500,000			237,600
	n/a	Variable	n/a				-			175,890
				3.80	%		500,000			413,490
One Market Plaza (49.0% interest)
	Dec-2019	Fixed (1)		6.13	%		859,648			857,037
	Dec-2019	Variable (5)		4.73	%		9,578			-
				6.12	%		869,226			857,037
Waterview (6)	June-2017	Fixed		5.76	%		210,000			210,000
1899 Pennsylvania Avenue	Nov-2020	Fixed		4.88	%		88,042			89,116
Liberty Place	June-2018	Fixed		4.50	%		84,000			84,000
Total notes and mortgages payable				4.60	%	$	3,039,149		$	2,941,524
Less: deferred financing costs							(22,552	)		(18,914	)
Total notes and mortgages      payable, net						$	3,016,597		$	2,922,610
$1.0 Billion Revolving Credit Facility
($200,000 reserved for
outstanding letters of credit)	Nov-2018	Variable		1.77	%	$	50,000		$	20,000

⁽¹⁾ Represents loans with variable interest rates that have been fixed by interest rate swaps. See Note 9, Derivative Instruments and Hedging Activities.

⁽²⁾ Represents amounts outstanding under an option to increase the loan balance up to $250,000, at LIBOR plus 175 basis points, if certain performance hurdles relating to the property are satisfied.

⁽³⁾ We repaid this loan on October 6, 2016.  See Note 22, Subsequent Events.

⁽⁴⁾ Includes $7,710 outstanding under a $10,000 line of credit at LIBOR plus 150 basis points and an additional liquidity premium of 66 basis points.

⁽⁵⁾ Represents amounts outstanding under a $20,136 line of credit at LIBOR plus 300 basis points and an additional liquidity premium of 120 basis points.

⁽⁶⁾ We repaid this loan on October 7, 2016.  See Note 22, Subsequent Events.