XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Consolidated Real Estate Related Funds | 12 Months Ended
--- | ---
Dec. 31, 2024
Consolidated Real Estate Fund [Abstract] |
Consolidated Real Estate Related Funds | 3. Consolidated Real Estate Related Funds Real Estate Related Fund Investments (Fund X) Real estate related fund investments on our consolidated balance sheets represent the investments of Fund X, which invests in mezzanine loans. We are the general partner and investment manager of Fund X, which, prior to December 12, 2022, was accounted for under the equity method of accounting (see Note 4, Investments in Unconsolidated Real Estate Related Funds). Subsequent to December 12, 2022, we increased our ownership interest in Fund X to 13.0% and began consolidating Fund X into our consolidated financial statements. The following table sets forth the details of income or loss from real estate related fund investments for the years ended December 31, 2024, 2023, and for the period from December 12, 2022 to December 31, 2022.
|  |  |  |  |  |  | Period from |
| For the Year Ended December 31, |  |  | December 12, 2022 to |
(Amounts in thousands) | 2024 |  |  | 2023 |  |  | December 31, 2022 |
Net investment income | $ | 647 |  |  | $ | 11,347 |  |  | $ | 394 |
Net realized losses |  | - |  |  |  | (46,894 | ) |  |  | - |
Net unrealized losses |  | (775 | ) |  |  | (60,828 | ) |  |  | - |
Loss recognized upon consolidation of real estate related fund investments that were previously unconsolidated |  | - |  |  |  | - |  |  |  | (2,627 | )
Loss from real estate related fund investments |  | (128 | ) |  |  | (96,375 | ) |  |  | (2,233 | )
Less: noncontrolling interests in consolidated real estate related fund |  | 124 |  |  |  | 84,784 |  |  |  | (420 | )
Loss from real estate related fund investments attributable to Paramount Group, Inc. | $ | (4 | ) |  | $ | (11,591 | ) |  | $ | (2,653 | )
Residential Development Fund (“RDF”) We are also the general partner of RDF in which we own a 7.4% interest. RDF owns a 35.0% interest in One Steuart Lane, a for-sale residential condominium project, in San Francisco, California. We consolidate the financial results of RDF into our consolidated financial statements and reflect the 92.6% interest that we do not own as noncontrolling interests in consolidated real estate related funds. RDF accounts for its 35.0% interest in One Steuart Lane under the equity method of accounting. Accordingly, our economic interest in One Steuart Lane (based on our 7.4% ownership interest in RDF) is 2.6%. See Note 5, Investments in Unconsolidated Joint Ventures.

X
- Definition Consolidated real estate fund. + References No definition available. + Details
Name: | pgre_ConsolidatedRealEstateFundAbstract
Namespace Prefix: | pgre_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Consolidated real estate fund. + References No definition available. + Details
Name: | pgre_ConsolidatedRealEstateFundTextBlock
Namespace Prefix: | pgre_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration