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Equity Investments (Tables)
3 Months Ended
Mar. 31, 2023
Investments, All Other Investments [Abstract]  
Schedule of Equity Investments

The Company’s equity investments and its proportionate share of earnings (losses) from equity investments were as follows ($ in thousands):

Earnings from

Carrying Value

Equity Method Investments

as of

For the Three Months Ended

March 31, 

December 31, 

March 31, 

2023

    

2022

    

2023

    

2022

Equity investment

  

 

  

  

  

425 Park Avenue

$

133,679

$

133,118

$

835

$

851

32 Old Slip

 

48,564

 

47,270

 

1,427

 

1,425

Ground Lease Plus Fund(1)

46,471

Leasehold Loan Fund(2)

14,776

Total

$

243,490

$

180,388

$

2,262

$

2,276

(1)As of March 31, 2023, the Company has a basis difference of $19.7 million in the Ground Lease Plus Fund that will be amortized over a weighted average remaining term of 102.6 years using the effective interest method.
(2)As of March 31, 2023, the Company has a basis difference of $15.0 million in the Leasehold Loan Fund that will be amortized over a weighted average remaining term of 3.7 years using the effective interest method.