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Investments in Unconsolidated Real Estate Related Funds | 12 Months Ended
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Dec. 31, 2024
Real Estate Fund [Abstract] |
Investments in Unconsolidated Real Estate Related Funds | 4. Investments in Unconsolidated Real Estate Related Funds We are the general partner and investment manager of Paramount Group Real Estate Fund VIII, LP (“Fund VIII”) which invests in real estate and related investments. As of December 31, 2024, our ownership interest in Fund VIII was approximately 1.3%. We account for our investment in Fund VIII under the equity method of accounting. Prior to December 12, 2022, we owned an 8.2% interest in Fund X and accounted for our investment in Fund X under the equity method of accounting. Subsequent to December 12, 2022, we began consolidating Fund X into our consolidated financial statements (see Note 3, Consolidated Real Estate Related Funds). As of December 31, 2024 and 2023, our share of the investments in unconsolidated real estate related funds was $4,649,000 and $4,549,000, respectively, which is reflected as “investments in unconsolidated real estate related funds” on our consolidated balance sheets. We recognized income of $273,000 for the year ended December 31, 2024 and losses of $822,000 and $1,239,000 for the years ended December 31, 2023 and 2022, respectively, for our share of earnings, which is reflected as “income (loss) from unconsolidated real estate related funds” in our consolidated statements of income.

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