XML 70 R2.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Commercial real estate properties, at cost:    
Land $ 201,196 $ 201,196
Development costs 7,989 7,987
Building and improvements 2,830,353 2,675,303
Commercial real estate properties, at cost 3,039,538 2,884,486
Less: accumulated depreciation (829,495) (747,304)
Commercial real estate properties, net 2,210,043 2,137,182
Cash and cash equivalents 293,710 204,981
Restricted cash 36,609 65,832
Short-term investments 0 400,000
Tenant and other receivables, net of allowance of $488 as of December 31, 2018 29,287 29,437
Deferred rent receivables, net of allowance of $19 as of December 31, 2018 214,685 200,903
Prepaid expenses and other assets 41,927 64,345
Deferred costs, net 223,698 241,223
Acquired below-market ground leases, net 354,524 360,398
Right of use assets 29,355  
Goodwill 491,479 491,479
Total assets 3,925,317 4,195,780
Liabilities:    
Mortgage notes payable, net 606,313 608,567
Senior unsecured notes, net 798,347 1,046,219
Unsecured term loan facility, net 264,517 264,147
Unsecured revolving credit facility 0 0
Accounts payable and accrued expenses 143,201 130,676
Acquired below-market leases, net 42,655 52,450
Ground lease liabilities 29,355  
Deferred revenue and other liabilities 68,742 44,810
Tenants’ security deposits 31,841 57,802
Total liabilities 1,984,971 2,204,671
Commitments and contingencies
Capital:    
Private perpetual preferred units, $16.62 per unit liquidation preference, 1,560,360 issued and outstanding in 2019 and 2018 8,004 8,004
Total capital 1,940,346 1,991,109
Total liabilities and capital 3,925,317 4,195,780
Series PR Operating Partnership Units    
Capital:    
ESRT partner's capital (3,042,566 and 3,033,261 general partner operating partnership units and 177,106,987 and 171,877,365 limited partner operating partnership units outstanding in 2019 and 2018, respectively) 1,222,019 1,238,482
Limited partner operating partnership units 700,479 725,108
Series ES operating partnership units    
Capital:    
Limited partner operating partnership units 7,454 14,399
Series 60 operating partnership units    
Capital:    
Limited partner operating partnership units 1,579 3,385
Series 250 operating partnership units    
Capital:    
Limited partner operating partnership units $ 811 $ 1,731