XML 63 R49.htm IDEA: XBRL DOCUMENT v3.25.0.1
Debt - Schedule of Debt (Details) - USD ($)
1 Months Ended 12 Months Ended
Mar. 08, 2024
Jul. 31, 2024
Dec. 31, 2024
Jun. 17, 2024
Dec. 31, 2023
Debt Instrument [Line Items]          
Outstanding borrowings     $ 120,000,000   $ 0
Total principal     2,294,274,000    
Deferred financing costs, net     (18,977,000)   (12,365,000)
Revolving Credit Facility          
Debt Instrument [Line Items]          
Basis spread on variable rate (as a percent) 0.10%        
Senior Unsecured Notes          
Debt Instrument [Line Items]          
Face amount       $ 225,000,000  
Mortgages, Senior Notes, and Unsecured Term Loan Facilities, not Including Unsecured Revolving Credit Facility          
Debt Instrument [Line Items]          
Total principal     2,294,274,000   2,256,998,000
Deferred financing costs, net     (10,123,000)   (9,488,000)
Unamortized debt discount     (6,183,000)   (6,964,000)
Total     2,277,968,000   2,240,546,000
First Stamford Place | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 0   175,860,000
Stated rate (as a percent)     0.00%    
Effective Rate (as a percent)     0.00%    
First Stamford Place - First Lien | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Stated rate (as a percent)     4.09%    
Face amount     $ 164,000,000    
First Stamford Place - Second Lien | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Stated rate (as a percent)     6.25%    
Face amount     $ 11,900,000    
10 Union Square | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 50,000,000   50,000,000
Stated rate (as a percent)     3.70%    
Effective Rate (as a percent)     3.97%    
1542 Third Avenue | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 30,000,000   30,000,000
Stated rate (as a percent)     4.29%    
Effective Rate (as a percent)     4.53%    
1010 Third Avenue and 77 West 55th Street | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 34,048,000   34,958,000
Stated rate (as a percent)     4.01%    
Effective Rate (as a percent)     4.21%    
Metro Center | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 71,600,000   80,070,000
Stated rate (as a percent)   3.59% 3.59%    
Effective Rate (as a percent)     3.67%    
Face amount   $ 71,600,000      
Debt instrument, term   4 years      
Debt instrument, extension option   1 year      
250 West 57th Street | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 180,000,000   180,000,000
Stated rate (as a percent)     2.83%    
Effective Rate (as a percent)     3.21%    
1333 Broadway | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 160,000,000   160,000,000
Stated rate (as a percent)     4.21%    
Effective Rate (as a percent)     4.29%    
345 East 94th Street - Series A | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 43,600,000   43,600,000
Variable rate, effective percentage (as a percent)     70.00%    
Basis spread on variable rate (as a percent)     0.95%    
Effective Rate (as a percent)     3.56%    
345 East 94th Street - Series B | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 6,490,000   7,209,000
Basis spread on variable rate (as a percent)     2.24%    
Effective Rate (as a percent)     3.56%    
561 10th Avenue - Series A | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 114,500,000   114,500,000
Variable rate, effective percentage (as a percent)     70.00%    
Basis spread on variable rate (as a percent)     1.07%    
Effective Rate (as a percent)     3.85%    
561 10th Avenue - Series B | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 14,036,000   15,801,000
Basis spread on variable rate (as a percent)     2.45%    
Effective Rate (as a percent)     3.85%    
Total fixed rate mortgage debt | Fixed rate mortgage debt:          
Debt Instrument [Line Items]          
Fixed rate mortgage debt:     $ 704,274,000   891,998,000
Series A | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 100,000,000   100,000,000
Stated rate (as a percent)     3.93%    
Effective Rate (as a percent)     3.96%    
Series B | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 125,000,000   125,000,000
Stated rate (as a percent)     4.09%    
Effective Rate (as a percent)     4.12%    
Series C | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 125,000,000   125,000,000
Stated rate (as a percent)     4.18%    
Effective Rate (as a percent)     4.21%    
Series D | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 115,000,000   115,000,000
Stated rate (as a percent)     4.08%    
Effective Rate (as a percent)     4.11%    
Series E | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 160,000,000   160,000,000
Stated rate (as a percent)     4.26%    
Effective Rate (as a percent)     4.27%    
Series F | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 175,000,000   175,000,000
Stated rate (as a percent)     4.44%    
Effective Rate (as a percent)     4.45%    
Series G | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 100,000,000   100,000,000
Stated rate (as a percent)     3.61%    
Effective Rate (as a percent)     4.89%    
Series H | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 75,000,000   75,000,000
Stated rate (as a percent)     3.73%    
Effective Rate (as a percent)     5.00%    
Series I | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 155,000,000   0
Stated rate (as a percent)     7.20% 7.20%  
Effective Rate (as a percent)     7.39%    
Face amount       $ 155,000,000  
Series J | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 45,000,000   0
Stated rate (as a percent)     7.32% 7.32%  
Effective Rate (as a percent)     7.46%    
Face amount       $ 45,000,000  
Series K | Senior Unsecured Notes          
Debt Instrument [Line Items]          
Total     $ 25,000,000   0
Stated rate (as a percent)     7.41% 7.41%  
Effective Rate (as a percent)     7.52%    
Face amount       $ 25,000,000  
Unsecured Term Loan Facility | Revolving Credit Facility          
Debt Instrument [Line Items]          
Outstanding borrowings     $ 175,000,000   175,000,000
Basis spread on variable rate (as a percent)     1.50%    
Effective Rate (as a percent)     4.61%    
Unsecured Term Loan Facility | Revolving Credit Facility          
Debt Instrument [Line Items]          
Outstanding borrowings     $ 95,000,000   215,000,000
Basis spread on variable rate (as a percent) 1.50%   1.50%    
Effective Rate (as a percent)     4.48%    
Unsecured revolving credit facility | Revolving Credit Facility          
Debt Instrument [Line Items]          
Outstanding borrowings     $ 120,000,000   $ 0
Basis spread on variable rate (as a percent)     1.30%    
Effective Rate (as a percent)     4.04%