Paramount (PGRE) 10-K 14 Feb 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 01, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	PGRE
Entity Registrant Name	PARAMOUNT GROUP, INC.
Entity Central Index Key	0001605607
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Entity Well Known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Common Stock, Shares Outstanding		217,366,089
Entity Public Float			$ 809,832,000
Entity File Number	001-36746
Entity Tax Identification Number	32-0439307
Entity Address, Address Line One	1633 Broadway
Entity Address, Address Line Two	Suite 1801
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	212
Local Phone Number	237-3100
Document Annual Report	true
Document Transition Report	false
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock of Paramount Group, Inc.,$0.01 par value per share
Entity Incorporation, State or Country Code	MD
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	New York, New York
Auditor Firm ID	34
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Proxy Statement for the Annual Stockholders’ Meeting (which is scheduled to be held on May 16, 2024) to be filed within 120 days after the end of the registrant’s fiscal year are incorporated by reference in Part III of this Annual Report on
Document Financial Statement Error Correction [Flag]	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)		Dec. 31, 2023	Dec. 31, 2022
Real estate, at cost
Land		$ 1,966,237,000	$ 1,966,237,000
Buildings and improvements		6,250,379,000	6,177,540,000
Rental property, at cost		8,216,616,000	8,143,777,000
Accumulated depreciation and amortization		(1,471,819,000)	(1,297,553,000)
Real estate, net		6,744,797,000	6,846,224,000
Cash and cash equivalents		428,208,000	408,905,000
Restricted cash		81,391,000	40,912,000
Accounts and other receivables		18,053,000	23,866,000
Real estate related fund investments		775,000	105,369,000
Investments in unconsolidated real estate related funds		4,549,000	3,411,000
Investments in unconsolidated joint ventures		132,239,000	393,503,000
Deferred rent receivable		351,209,000	346,338,000
Deferred charges, net of accumulated amortization of $82,265 and $68,686		108,751,000	120,685,000
Intangible assets, net of accumulated amortization of $194,536 and $246,723		68,005,000	90,381,000
Other assets		68,238,000	73,660,000
Total assets	[1]	8,006,215,000	8,453,254,000
Liabilities and Equity
Notes and mortgages payable, net of unamortized deferred financing costs of $13,566 and $17,682		3,803,484,000	3,840,318,000
Revolving credit facility		0	0
Accounts payable and accrued expenses		114,463,000	123,176,000
Dividends and distributions payable		8,360,000	18,026,000
Intangible liabilities, net of accumulated amortization of $108,817 and $102,533		28,003,000	36,193,000
Other liabilities		37,017,000	24,775,000
Total liabilities	[1]	3,991,327,000	4,042,488,000
Commitments and contingencies
Paramount Group, Inc. equity:
Common stock $0.01 par value per share; authorized 900,000,000 shares; issued and outstanding 217,366,089 and 216,559,406 shares in 2023 and 2022, respectively		2,173,000	2,165,000
Additional paid-in-capital		4,133,801,000	4,186,161,000
Earnings less than distributions		(943,935,000)	(644,331,000)
Accumulated other comprehensive income		11,246,000	48,296,000
Paramount Group, Inc. equity		3,203,285,000	3,592,291,000
Noncontrolling interests in:
Consolidated joint ventures		413,925,000	402,118,000
Consolidated real estate related funds		110,589,000	173,375,000
Operating Partnership (19,468,095 and 14,586,411 units outstanding)		287,089,000	242,982,000
Total equity		4,014,888,000	4,410,766,000
Total liabilities and equity		$ 8,006,215,000	$ 8,453,254,000
[1] Represents the consolidated assets and liabilities of Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). The Operating Partnership is a consolidated variable interest entity (“VIE”), of which we are the sole general partner and own approximately 91.8 % as of December 31, 2023. As of December 31, 2023, the assets and liabilities of the Operating Partnership include $ 3,860,326 and $ 2,522,385 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”) .

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Deferred charges, accumulated amortization		$ 82,265	$ 68,686
Intangible assets, accumulated amortization		194,536	246,723
Notes and mortgages payable, deferred financing costs		13,566	17,682
Intangible liabilities, accumulated amortization		$ 108,817	$ 102,533
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized		900,000,000	900,000,000
Common stock, shares issued		217,366,089	216,559,406
Common stock, shares outstanding		217,366,089	216,559,406
Operating partnership, units outstanding		19,468,095	14,586,411
Total assets	[1]	$ 8,006,215	$ 8,453,254
Total liabilities	[1]	3,991,327	4,042,488
Variable Interest Entities [Member]
Total assets		3,860,326	4,013,461
Total liabilities		$ 2,522,385	$ 2,579,381
Variable Interest Entities [Member] | Paramount Group Operating Partnership [Member]
Percentage of ownership in operating partnership		91.80%
[1] Represents the consolidated assets and liabilities of Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). The Operating Partnership is a consolidated variable interest entity (“VIE”), of which we are the sole general partner and own approximately 91.8 % as of December 31, 2023. As of December 31, 2023, the assets and liabilities of the Operating Partnership include $ 3,860,326 and $ 2,522,385 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”) .

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Rental revenue	$ 711,470,000	$ 702,819,000	$ 690,418,000
Fee and other income	31,318,000	37,558,000	36,368,000
Total revenues	742,788,000	740,377,000	726,786,000
Expenses:
Operating	293,965,000	277,422,000	265,438,000
Depreciation and amortization	250,644,000	232,517,000	232,487,000
General and administrative	61,986,000	59,487,000	59,132,000
Transaction related costs	422,000	470,000	916,000
Total expenses	607,017,000	569,896,000	557,973,000
Other income (expense):
Loss from real estate related fund investments	(96,375,000)	(2,233,000)	0
(Loss) income from unconsolidated real estate related funds	(822,000)	(1,239,000)	782,000
Loss from unconsolidated joint ventures	(270,298,000)	(53,251,000)	(24,896,000)
Interest and other (loss) income, net	14,837,000	5,174,000	3,017,000
Interest and debt expense	(152,990,000)	(143,864,000)	(142,014,000)
(Loss) income before income taxes	(369,877,000)	(24,932,000)	5,702,000
Income tax expense	(1,426,000)	(3,265,000)	(3,643,000)
Net (loss) income	(371,303,000)	(28,197,000)	2,059,000
Less net (income) loss attributable to noncontrolling interests in:
Consolidated joint ventures	(20,464,000)	(13,981,000)	(21,538,000)
Consolidated real estate related funds	109,795,000	3,342,000	(2,893,000)
Operating Partnership	22,228,000	2,433,000	2,018,000
Net loss attributable to common stockholders	$ (259,744,000)	$ (36,403,000)	$ (20,354,000)
Loss per Common Share - Basic:
Net loss per common share	$ (1.2)	$ (0.16)	$ (0.09)
Weighted average common shares outstanding	216,922,235	221,309,938	218,701,249
Loss per Common Share - Diluted:
Net loss per common share	$ (1.2)	$ (0.16)	$ (0.09)
Weighted average common shares outstanding	216,922,235	221,309,938	218,701,249

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (371,303)	$ (28,197)	$ 2,059
Other comprehensive income (loss):
Change in value of interest rate swaps and interest rate caps	(25,444)	31,839	6,857
Pro rata share of other comprehensive (loss) income of unconsolidated joint ventures	(14,584)	18,485	9,565
Comprehensive (loss) income	(411,331)	22,127	18,481
Less comprehensive (income) loss attributable to noncontrolling interests in:
Consolidated joint ventures	(20,464)	(13,981)	(21,538)
Consolidated real estate related funds	109,795	3,342	(2,908)
Operating Partnership	25,206	(1,733)	540
Comprehensive (loss) income attributable to common stockholders	$ (296,794)	$ 9,755	$ (5,425)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid in Capital [Member]	Earnings Less than Distributions [Member]	Accumulated Other Comprehensive Income [Member]	Noncontrolling Interest [Member] Consolidated Joint Ventures [Member]	Noncontrolling Interest [Member] Consolidated Real Estate Related Funds [Member]	Noncontrolling Interest [Member] Operating Partnership [Member]
Beginning balance at Dec. 31, 2020	$ 4,515,734	$ 2,188	$ 4,120,173	$ (456,393)	$ (12,791)	$ 437,161	$ 79,017	$ 346,379
Common stock, shares outstanding at Dec. 31, 2020		218,817,000
Net (loss) income	2,059			(20,354)		21,538	2,893	(2,018)
Common shares issued upon redemption of common units		$ 1	960					(961)
Common shares issued upon redemption of common units, shares		59,000
Common shares issued under Omnibus share plan, net of shares withheld for taxes	(235)	$ 1		(236)
Common shares issued under Omnibus share plan, net of shares withheld for taxes, shares		116,000
Dividends and distributions	(67,578)			(61,310)				(6,268)
Contributions from noncontrolling interests	121					121
Distributions to noncontrolling interests	(30,539)					(30,539)
Change in value of interest rate swaps and interest rate caps	6,857				6,237			620
Pro rata share of other comprehensive (loss) income of unconsolidated joint ventures	9,565				8,692		15	858
Amortization of equity awards	18,777		1,221					17,556
Reallocation of noncontrolling interest			55					(55)
Other	271		271	(552)		552
Ending balance at Dec. 31, 2021	4,455,032	$ 2,190	4,122,680	(538,845)	2,138	428,833	81,925	356,111
Common stock, shares outstanding at Dec. 31, 2021		218,992,000
Net (loss) income	(28,197)			(36,403)		13,981	(3,342)	(2,433)
Common shares issued upon redemption of common units		$ 79	128,664
Common shares issued upon redemption of common units, shares		7,844,000
Redemption of minority interest in operating partnerships								(128,743)
Common shares issued under Omnibus share plan, net of shares withheld for taxes	(284)			(284)
Common shares issued under Omnibus share plan, net of shares withheld for taxes, shares		94,000
Repurchases of common shares	(65,000)	$ (104)	(64,896)
Repurchases of common shares, shares		(10,371,000)
Dividends and distributions	(74,155)			(68,560)				(5,595)
Contributions from noncontrolling interests	3,257						3,257
Distributions to noncontrolling interests	(40,699)					(40,699)
Change in value of interest rate swaps and interest rate caps	31,839				29,194			2,645
Pro rata share of other comprehensive (loss) income of unconsolidated joint ventures	18,485				16,964			1,521
Amortization of equity awards	19,189		1,302					17,887
Consolidation of real estate related fund investments that were previously unconsolidated	91,535						91,535
Reallocation of noncontrolling interest			(1,589)					1,589
Other	(236)			(239)		(3)
Ending balance at Dec. 31, 2022	$ 4,410,766	$ 2,165	4,186,161	(644,331)	48,296	402,118	173,375	242,982
Common stock, shares outstanding at Dec. 31, 2022	216,559,406	216,559,000
Net (loss) income	$ (371,303)			(259,744)		20,464	(109,795)	(22,228)
Common shares issued upon redemption of common units		$ 8	11,863					(11,871)
Common shares issued upon redemption of common units, shares		715,000
Common shares issued under Omnibus share plan, net of shares withheld for taxes	(205)			(205)
Common shares issued under Omnibus share plan, net of shares withheld for taxes, shares		92,000
Dividends and distributions	(43,015)			(39,655)				(3,360)
Contributions from noncontrolling interests	55,837						55,837
Distributions to noncontrolling interests	(17,485)					(8,657)	(8,828)
Change in value of interest rate swaps and interest rate caps	(25,444)				(23,623)			(1,821)
Pro rata share of other comprehensive (loss) income of unconsolidated joint ventures	(14,584)				(13,427)			(1,157)
Amortization of equity awards	20,321		1,222					19,099
Reallocation of noncontrolling interest			(65,445)					65,445
Ending balance at Dec. 31, 2023	$ 4,014,888	$ 2,173	$ 4,133,801	$ (943,935)	$ 11,246	$ 413,925	$ 110,589	$ 287,089
Common stock, shares outstanding at Dec. 31, 2023	217,366,089	217,366,000

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends and distributions, Per share and unit	$ 0.1825	$ 0.31	$ 0.28

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities:
Net (loss) income	$ (371,303,000)	$ (28,197,000)	$ 2,059,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	250,644,000	232,517,000	232,487,000
Straight-lining of rental revenue	(4,874,000)	(13,602,000)	(2,495,000)
Amortization of stock-based compensation expense	20,321,000	19,003,000	18,612,000
Amortization of deferred financing costs	6,219,000	6,156,000	9,127,000	[1]
Loss from unconsolidated joint ventures	20,126,000	21,566,000	24,896,000
Real estate impairment losses on unconsolidated joint ventures	250,172,000	31,685,000
Distributions of earnings from unconsolidated joint ventures	17,096,000	1,324,000	7,278,000
Realized and unrealized losses on real estate related fund investments	107,722,000
Loss (Income) from unconsolidated real estate related funds	822,000	1,239,000	(782,000)
Distributions of earnings from unconsolidated real estate related funds	117,000	1,318,000	676,000
Amortization of above and below-market leases, net	(5,376,000)	(1,748,000)	(3,070,000)
Loss recognized upon consolidation of real estate related fund investments that were previously unconsolidated		2,627,000
Realized and unrealized gains on marketable securities			(1,535,000)
Other non-cash adjustments	669,000	1,188,000	3,146,000
Changes in operating assets and liabilities:
Real estate related fund investments	(3,128,000)
Accounts and other receivables	5,813,000	(8,284,000)	1,920,000
Deferred charges	(12,200,000)	(15,083,000)	(18,438,000)
Other assets	(3,542,000)	(7,545,000)	(8,283,000)
Accounts payable and accrued expenses	(13,663,000)	3,658,000	16,246,000
Other liabilities	12,224,000	(1,185,000)	(37,538,000)
Net cash provided by operating activities	277,859,000	246,637,000	244,306,000
Cash Flows from Investing Activities:
Additions to real estate	(100,526,000)	(125,805,000)	(112,001,000)
Investments in and contributions of capital to unconsolidated joint ventures	(40,715,000)	(15,812,000)	(11,750,000)
Advances to a partner in One Steuart Lane	(35,715,000)
Repayment of advances by a partner in One Steuart Lane	38,935,000
Investment in a mezzanine loan	(20,000,000)
Contributions of capital to unconsolidated real estate related funds	(2,077,000)	(5,018,000)	(3,324,000)
Due from affiliates		(59,000,000)
Repayment of amounts due from affiliates		59,000,000
Distributions of capital from unconsolidated real estate related funds		1,506,000	4,926,000
Investment in real estate related funds		(7,454,000)
Sales of marketable securities			40,228,000
Purchases of marketable securities			(21,562,000)
Net cash used in investing activities	(160,098,000)	(152,583,000)	(103,483,000)
Cash Flows from Financing Activities:
Repayment of notes and mortgages payable	(273,000,000)		(850,000,000)
Proceeds from notes and mortgages payable	232,050,000		888,566,000
Contributions from noncontrolling interests in consolidated real estate related funds	55,837,000	3,257,000
Distributions to noncontrolling interests in consolidated real estate related funds	(8,828,000)
Dividends paid to common stockholders	(48,873,000)	(67,062,000)	(61,297,000)
Distributions paid to common unitholders	(3,808,000)	(5,962,000)	(6,182,000)
Contributions from noncontrolling interests in consolidated joint ventures			121,000
Distributions to noncontrolling interests in consolidated joint ventures	(8,657,000)	(40,699,000)	(30,539,000)
Settlement of accounts payable in connection with repurchases of common shares	(1,847,000)
Debt issuance costs	(648,000)		(16,915,000)
Repurchase of shares related to stock compensation agreements and related tax withholdings	(205,000)	(284,000)	(235,000)
Repurchases of common shares		(63,153,000)
Net cash used in financing activities	(57,979,000)	(173,903,000)	(76,481,000)
Net increase (decrease) in cash and cash equivalents and restricted cash	59,782,000	(79,849,000)	64,342,000
Cash and cash equivalents and restricted cash at beginning of period	449,817,000	529,666,000	465,324,000
Cash and cash equivalents and restricted cash at end of period	509,599,000	449,817,000	529,666,000
Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period	408,905,000	524,900,000	434,530,000
Restricted cash at beginning of period	40,912,000	4,766,000	30,794,000
Cash and cash equivalents and restricted cash at beginning of period	449,817,000	529,666,000	465,324,000
Cash and cash equivalents at end of period	428,208,000	408,905,000	524,900,000
Restricted cash at end of period	81,391,000	40,912,000	4,766,000
Cash and cash equivalents and restricted cash at end of period	509,599,000	449,817,000	529,666,000
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest	144,388,000	139,332,000	132,476,000
Cash payments for income taxes, net of refunds	893,000	2,711,000	1,762,000
Non-Cash Transactions:
Common shares issued upon redemption of common units	11,871,000	128,743,000	961,000
Dividends and distributions declared but not yet paid	8,360,000	18,026,000	16,895,000
Change in value of interest rate swaps and interest rate caps	(25,444,000)	31,839,000	6,857,000
Write-off of fully amortized and/or depreciated assets	34,317,000	11,386,000	46,594,000
Additions to real estate included in accounts payable and accrued expenses	$ 21,815,000	14,595,000	12,177,000
Transfer of deposit to investment in unconsolidated joint ventures		6,230,000	$ 6,230,000
Repurchases of common shares included in accounts payable and accrued expenses		1,847,000
Increase (decrease) due to consolidation of real estate related fund investments that were previously unconsolidated:
Real estate related fund investments		100,500,000
Investments in unconsolidated real estate related funds		(8,965,000)
Noncontrolling interests in consolidated real estate related funds		$ 91,535,000
[1] Includes $ 761 of expense from the non-cash write-off of deferred financing costs in connection with the $ 860,000 refinancing of 1301 Avenue of the Americas in July 2021.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (259,744)	$ (36,403)	$ (20,354)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non Rule 10b5-1 Arrangement Modified	false

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization And Business	1. O rganization and Business As used in these consolidated financial statements, unless otherwise indicated, all references to “we,” “us,” “our,” the “Company,” and “Paramount” refer to Paramount Group, Inc., a Maryland corporation, and its consolidated subsidiaries, including Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). We are a fully-integrated real estate investment trust (“REIT”) focused on owning, operating, managing, acquiring and redeveloping high-quality, Class A office properties in select central business district submarkets of New York City and San Francisco. We conduct our business through, and substantially all of our interests in properties and investments are held by, the Operating Partnership. We are the sole general partner of, and owned approximately 91.8 % of, the Operating Partnership as of December 31, 2023. As of December 31, 2023, we owned and/or managed a portfolio of 18 properties aggregating 13.8 million square feet comprised of: • Eight wholly and partially owned Class A properties aggregating 8.7 million square feet in New York, comprised of 8.2 million square feet of office space and 0.5 million square feet of retail, theater and amenity space; • Six wholly and partially owned Class A properties aggregating 4.3 million square feet in San Francisco, comprised of 4.1 million square feet of office space and 0.2 million square feet of retail space; and • Four managed properties aggregating 0.8 million square feet in New York and Washington, D.C. Additionally, we have an investment management business, where we serve as the general partner of several real estate related funds for institutional investors and high net-worth individuals.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Basis Of Presentation And Significant Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	2. Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These consolidated financial statements include the accounts of Paramount and its consolidated subsidiaries, including the Operating Partnership. All significant intercompany balances and transactions have been eliminated in consolidation. Significant Accounting Policies Real Estate Real estate is carried at cost less accumulated depreciation and amortization. Betterments, major renovations and certain costs directly related to the improvement of real estate are capitalized. Maintenance and repair expenses are charged to expense as incurred. Depreciation is recognized on a straight-line basis over estimated useful lives of the assets, which range from 5 to 40 years . Tenant improvements are amortized on a straight-line basis over the lives of the related leases, which approximate the useful lives of the assets. Upon the acquisition of real estate, we assess the fair value of acquired assets (including land, buildings and improvements, identified intangibles, such as acquired above-market leases and acquired in-place leases) and acquired liabilities (such as acquired below-market leases) and allocate the purchase price based on these assessments. We assess fair value based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known trends, and market/economic conditions. We record acquired intangible assets (including acquired above-market leases and acquired in-place leases) and acquired intangible liabilities (including below-market leases) at their estimated fair value. We amortize acquired above-market and below-market leases as a decrease or increase to rental revenue, respectively, over the lives of the respective leases. Amortization of acquired in-place leases is included as a component of “depreciation and amortization”. Our properties, including any related intangible assets, are individually reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment analyses are based on our current plans, intended holding periods and available market information at the time the analyses are prepared. An impairment exists when the carrying amount of an asset exceeds the aggregate projected future cash flows over the anticipated holding period on an undiscounted basis. An impairment loss is measured based on the excess of the property’s carrying amount over its estimated fair value. Estimates of fair value are determined using discounted cash flow models, which consider, among other things, anticipated holding periods, current market conditions and utilize unobservable quantitative inputs, including appropriate capitalization and discount rates. If our estimates of the projected future cash flows, anticipated holding periods, or market conditions change, our evaluation of impairment losses may be different and such differences could be material to our consolidated financial statements. The evaluation of anticipated cash flows is subjective and is based, in part, on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results. Plans to hold properties over longer periods decrease the likelihood of recording impairment losses. Real estate and related intangibles are classified as held for sale when all the necessary criteria are met. The criteria include (i) management, having the authority to approve action, commits to a plan to sell the property in its present condition, (ii) the sale of the property is at a price reasonable in relation to its current fair value and (iii) the sale is probable and expected to be completed within one year. Real estate and the related intangibles held for sale are carried at the lower of carrying amounts or estimated fair value less disposal costs. Depreciation and amortization is not recognized on real estate and related intangibles classified as assets held for sale. Variable Interest Entities (“VIEs”) and Investments in Unconsolidated Joint Ventures and Funds We consolidate VIEs in which we are considered to be the primary beneficiary. Entities are considered to be the primary beneficiary if they have both of the following characteristics: (i) the power to direct the activities that, when taken together, most significantly impact the VIE’s performance, and (ii) the obligation to absorb losses and right to receive the returns from the VIE that would be significant to the VIE. Our judgment with respect to our level of influence or control of an entity involves the consideration of various factors including the form of our ownership interest, our representation in the entity’s governance, the size of our investment, estimates of future cash flows, our ability to participate in policy making decisions and the rights of the other investors to participate in the decision making process and to replace us as manager and/or liquidate the joint venture, if applicable. We account for investments under the equity method when the requirements for consolidation are not met, and we have significant influence over the operations of the investee. Equity method investments, which consist of investments in unconsolidated joint ventures and funds are initially recorded at cost and subsequently adjusted for (i) our share of net income or loss, (ii) our share of other comprehensive income or loss, and (iii) cash contributions and distributions. To the extent that our cost basis is different than our share of the equity in the equity method investment, the basis difference allocated to depreciable assets is amortized into “loss from unconsolidated joint ventures” over the estimated useful life of the related asset. The agreements that govern our equity method investments may designate different percentage allocations among investors for profits and losses; however, our recognition of income or loss generally follows the investment’s distribution priorities, which may change upon the achievement of certain investment return thresholds. We may discontinue applying the equity method of accounting when the investment in the joint venture is reduced to zero and when we have no obligation to provide financial support to the joint venture. Upon discontinuing equity method accounting, we recognize income only to the extent we receive cash distributions from the joint venture and recognize losses to the extent we make cash contributions to the joint venture. We review our investments in unconsolidated joint ventures for impairment whenever events or changes and circumstances indicate a decline in the fair value of the investment below the investment carrying amount and such decline is other than temporary . Investments that do not qualify for consolidation or equity method accounting are accounted for under the cost method. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and short-term highly liquid investments with original maturities of three months or less. The majority of our cash and cash equivalents are held at major commercial banks, which may at times exceed the Federal Deposit Insurance Corporation limit. To date, we have not experienced any losses on our invested cash. Restricted Cash Restricted cash consists primarily of cash restricted or escrowed under loan agreements for debt service, real estate taxes, property insurance, capital improvements and security deposits held on behalf of our tenants. Deferred Charges Deferred charges include deferred leasing costs related to successful leasing activities and deferred financing costs related to our revolving credit facility. Deferred leasing costs consist of fees and direct costs related to successful leasing activities. Such deferred costs are amortized on a straight-line basis over the lives of the related leases and recognized in our consolidated statements of income as a component of “depreciation and amortization”. Deferred financing costs consist of fees and direct costs incurred in obtaining our revolving credit facility. Such deferred financing costs are amortized over the term of the revolving credit facility and are recognized as a component of “interest and debt expense” in our consolidated statements of income. Deferred Financing Costs Related to Notes and Mortgages Payable Deferred financing costs related to notes and mortgages payable consists of fees and direct costs incurred in obtaining such financing and are recorded as a reduction of our notes and mortgages payable. Such costs are amortized over the terms of the related debt agreements and recognized as a component of “interest and debt expense” in our consolidated statements of income. Derivative Instruments and Hedging Activities We record all derivatives on our consolidated balance sheets at fair value in accordance with Accounting Standards Codification (“ASC”) Topic 815, Derivatives and Hedging . The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have designated a derivative as a hedge and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We use derivative financial instruments in the normal course of business to selectively manage or hedge a portion of the risk associated with our indebtedness and interest payments. Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish these objectives, we primarily use interest rate swaps and interest rate caps. Interest rate swaps and interest rate caps that are designated as hedges are so designated at the inception of the contract. We require that hedging derivative instruments be highly effective in reducing the risk exposure that they are designated to hedge. The changes in the fair value of interest rate swaps and interest rate caps that are designated as hedges are recognized in other comprehensive income or loss (outside of earnings) and subsequently reclassified to earnings over the term that the hedged transaction affects earnings. Fair Value of Financial Instruments ASC Topic 820, Fair Value Measurement and Disclosures , defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The objective of fair value is to determine the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). ASC Topic 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 – quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 – observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 – unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment is necessary to interpret Level 2 and 3 inputs in determining the fair value of our financial and non-financial assets and liabilities. Accordingly, our fair value estimates, which are made at the end of each reporting period, may be different than the amounts that may ultimately be realized upon sale or disposition of these assets or settlement of these liabilities. We use the following methods and assumptions in estimating fair value for financial instruments that are presented at fair value on our consolidated balance sheets: Interest Rate Swaps and Interest Rate Caps Interest rate swaps and interest rate caps are valued by a third-party specialist using widely accepted valuation techniques. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed and variable cash payments or receipts. The variable cash payments or receipts are based on future interest rates derived from observable market interest rate curves. The fair values of interest rate caps are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the interest rate caps. The variable interest rates used in the calculation of expected cash receipts are based on future interest rates derived from observable market interest rate curves and volatilities. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs. We have determined that the significance of the impact of the credit valuation adjustments made to our derivative contracts was not significant to the overall valuation. As a result, all of our derivatives held as December 31, 2023, are classified as Level 2 in the fair value hierarchy. Real Estate Related Fund Investments Our real estate related fund investments include mezzanine loan investments made by Paramount Group Real Estate Fund X, LP (“Fund X”). Fund X qualifies as an investment company pursuant to ASC Topic 946, Financial Services - Investment Companies. Accordingly, the underlying investments are generally carried at fair value, except investments that have a fair value above par value and where the borrower has the option to prepay the loan are carried at par value. These investments are classified as Level 3 in the fair value hierarchy. We use the following methods and assumptions in estimating fair value for financial instruments that are not presented at fair value on our consolidated balance sheets, but are disclosed in the notes to our consolidated financial statements: Notes and Mortgages Payable Notes and mortgages payable are valued by a third-party specialist using the standard practice of modeling the contractual cash flows required under the instrument and discounting them back to their present value at the appropriate current risk adjusted interest rate. For floating rate debt, we use forward rates derived from observable market yield curves to project the expected cash payments we would be required to make under the instrument. The notes and mortgages payable are classified as Level 2 in the fair value hierarchy. The carrying values of all other financial instruments on our consolidated balance sheets, including cash and cash equivalents, restricted cash, accounts and other receivables and accounts payable and accrued expenses, approximate their fair values due to the short-term nature of these instruments. Revenue Recognition Rental Revenue We lease office, retail and storage space to tenants, primarily under non-cancellable operating leases which generally have terms ranging from five to fifteen years . Most of our leases provide tenants with extension options at either fixed or market rates and few of our leases provide tenants with options to early terminate, but such options generally impose an economic penalty on the tenant upon exercising. Rental revenue is recognized in accordance with ASC Topic 842, Leases, and includes (i) fixed payments of cash rents, which represents revenue each tenant pays in accordance with the terms of its respective lease and that is recognized on a straight-line basis over the non-cancellable term of the lease, and includes the effects of rent steps and rent abatements under the leases, (ii) variable payments of tenant reimbursements, which are recoveries of all or a portion of the operating expenses and real estate taxes of the property and is recognized in the same period as the expenses are incurred, (iii) amortization of acquired above and below-market leases, net and (iv) lease termination income. We evaluate the collectability of our tenant receivables for payments required under the lease agreements. If we determine that collectability is not probable, the difference between rental revenue recognized and rental payments received is recorded as an adjustment to “rental revenue” in our consolidated statements of income. Fee and Other Income Fee income includes (i) asset management fees, (ii) property management fees, (iii) fees relating to acquisitions, dispositions and leasing services and (iv) other fee income, and is recognized in accordance with ASC Topic 606, Revenue from Contracts with Customers . Fee income is generated from the various services we provide to our customers and is disaggregated based on the types of services we provide pursuant to ASC Topic 606. Fee income is recognized as and when we satisfy our performance obligations pursuant to contractual agreements. Property management and asset management services are provided continuously over time and revenue is recognized over that time. Fee income relating to acquisitions, dispositions and leasing services is recognized upon completion of the acquisition, disposition or leasing services as required in the contractual agreements. The amount of fee income to be recognized is stated in the contract as a fixed price or as a stated percentage of revenues, contributed capital or transaction price. Other income includes income from tenant requested services, including cleaning, overtime heating and cooling and parking income. Stock-Based Compensation We account for stock-based compensation in accordance with ASC Topic 718, Compensation – Stock Compensation . The fair value of the award on the date of grant (adjusted for estimated forfeitures) is ratably amortized into expense over the vesting period of the respective grants. The determination of fair value of these awards involves the use of significant estimates and assumptions, including expected volatility of our stock, expected dividend yield, expected term, and assumptions of whether these awards achieve the requisite performance criteria. Income Taxes We operate and have been organized in conformity with the requirements for qualification and taxation as a REIT for U.S. federal income tax purposes. So long as we qualify as a REIT, we generally will not be subject to U.S. federal income tax on our net income that we distribute currently to our stockholders. In order to maintain our qualification as a REIT, we are required under the Internal Revenue Code of 1986, as amended, to distribute at least 90 % of our taxable income (without regard to the deduction for dividends paid and excluding net capital gains) to our stockholders and meet certain other requirements. If, with respect to any taxable year, we fail to maintain our qualification as a REIT, and we are not entitled to relief under the relevant statutory provisions, we would be subject to income tax at regular corporate tax rates. Even if we qualify as a REIT, we may also be subject to certain state, local and franchise taxes. Under certain circumstances, U.S. federal income tax may be due on our undistributed taxable income. We treat certain consolidated subsidiaries, and may in the future elect to treat newly formed subsidiaries, as taxable REIT subsidiaries (“TRSs”). TRSs may participate in non-real estate related activities and/or perform non-customary services for tenants and are subject to federal and state income tax at regular corporate tax rates. Our TRSs had a combined current income tax expense of approximately $ 484,000 , $ 1,942,000 , and $ 2,024,000 for the years ended December 31, 2023, 2022 and 2021, respectively. In addition, our TRSs had combined deferred income tax expense of $ 181,000 , $ 101,000 and $ 703,000 for the years ended December 31, 2023, 2022 and 2021, respectively. The following table reconciles net loss attributable to Paramount Group, Inc. to estimated taxable income for the years ended December 31, 2023, 2022 and 2021. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Net loss attributable to Paramount Group, Inc. $ ( 259,744 ) $ ( 36,403 ) $ ( 20,354 ) Book to tax differences: Straight-lining of rents and amortization of above and 6,832 ( 5,780 ) 3,082 Depreciation and amortization 39,037 54,892 62,218 Stock-based compensation 19,052 17,607 16,933 Deferred compensation plan - - ( 28,793 ) (1) Our share of real estate impairment losses of 226,230 31,685 - Other, net 3,014 20,352 27,476 Estimated taxable income $ 34,421 $ 82,353 $ 60,562 (1) In December 2021, the deferred compensation plan was terminated and the net proceeds were distributed to the plan participants. The following table sets forth the characterization of dividend distributions for federal income tax purposes for the years ended December 31, 2023, 2022 and 2021. For the Year Ended December 31, 2023 2022 2021 Amount % Amount % Amount % Ordinary income $ 0.158 (1) 89.3 % $ 0.373 (1) 100.0 % $ 0.253 (1) 90.4 % Long-term capital gain - 0.0 % - 0.0 % 0.023 8.2 % Return of capital 0.019 10.7 % - 0.0 % 0.004 1.4 % Total $ 0.177 (2) 100.0 % $ 0.373 (3) 100.0 % $ 0.280 (4) 100.0 % (1) Represents amounts treated as “qualified REIT dividends” for purposes of Internal Revenue Code Section 199A. (2) Dividends declared in the fourth quarter of the year ended December 31, 2023 of $ 0.035 per share, that were paid in January 2024, were attributable to the year ending December 31, 2024 for federal income tax purposes. (3) Dividends declared in the fourth quarter of the year ended December 31, 2022 of $ 0.0775 per share, that were paid in January 2023, were a split-year dividend with $ 0.070425 per share attributable to the year ended December 31, 2022 for federal income tax purposes and the remaining $ 0.007075 per share attributable to the year ended December 31, 2023. (4) Dividends declared in the fourth quarter of the year ended December 31, 2021 of $ 0.07 per share, that were paid in January 2022, were attributable to the year ended December 31, 2022 for federal income tax purposes. Segments Our reportable segments are separated by region, based on the two regions in which we conduct our business: New York and San Francisco. Our determination of segments is aligned with our method of internal reporting and the way our Chief Executive Officer, who is also our Chief Operating Decision Maker (“CODM”), makes key operating decisions, evaluates financial results and manages our business. See Note 21, Segments. Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. Certain prior year balances have been reclassified to conform to current year presentation. Recently Issued Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, which adds ASC Topic 848, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 provides temporary optional expedients and exceptions to ease financial reporting burdens related to applying current GAAP to modifications of contracts, hedging relationships and other transactions in connection with the transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. ASU 2020-04 was effective beginning March 12, 2020 to December 31, 2022. In January 2021, the FASB issued ASU 2021-01 to clarify that certain optional expedients and exceptions apply to modifications of derivative contracts and certain hedging relationships affected by changes in the interest rates used for discounting cash flows, computing variation margin settlements, and for calculating price alignment interest. ASU 2021-01 was effective beginning January 7, 2021 to December 31, 2022. In December 2022, the FASB issued ASU 2022-06 to extend the effectiveness date of ASU 2020-04 and ASU 2021-01 from December 31, 2022 to December 31, 2024. In June 2023, we entered into loan modifications in connection with the transition from LIBOR to Secured Overnight Financing Rate (“SOFR”) for our variable rate loans and we applied the practical expedient to all such modifications. In August 2023, the FASB issued ASU 2023-05, an update to ASC Topic 805, Business Combinations . ASU 2023-05 clarifies existing guidance by requiring a joint venture to recognize and initially measure assets contributed and liabilities assumed at fair value, upon its formation, in the joint venture's separate financial statements. These amendments are effective prospectively for all joint venture formations with a formation date on or after January 1, 2025, with early adoption permitted. We will apply the provisions of ASU 2023-05 to new joint ventures, as applicable, but do not believe the adoption of ASU 2023-05 will have a material impact on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, an update to ASC Topic 280, Segment Reporting . ASU 2023-07 enhances the segment reporting by requiring disclosures of (i) the significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, (ii) the composition of the other segment items, including the nature and type of the other segment items, and (iii) the title and position of the CODM. ASU 2023-07 is effective for our year ending December 31, 2024 and for our interim periods that begin on January 1, 2025, with early adoption permitted. We are evaluating the impact of ASU 2023-07 on our consolidated financial statements.

Consolidated Real Estate Relate

Consolidated Real Estate Related Funds	12 Months Ended
	Dec. 31, 2023
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 year ended December 31, 2023 and the period from December 12, 2022 to December 31, 2022. Period from For the Year Ended December 12, 2022 to (Amounts in thousands) December 31, 2023 December 31, 2022 Net investment income $ 11,347 $ 394 Net realized losses ( 46,894 ) - Net unrealized losses ( 60,828 ) - Loss recognized upon consolidation of real estate related - ( 2,627 ) Loss from real estate related fund investments ( 96,375 ) ( 2,233 ) Less: noncontrolling interests in consolidated real estate related fund 84,784 ( 420 ) Loss from real estate related fund investments attributable $ ( 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 .

Investments in Unconsolidated R

Investments in Unconsolidated Real Estate Related Funds	12 Months Ended
	Dec. 31, 2023
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, 2023, 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, 2023 and 2022, our share of the investments in unconsolidated real estate related funds was $ 4,549,000 and $ 3,411,000 , respectively, which is reflected as “investments in unconsolidated real estate related funds” on our consolidated balance sheets. We recognized losses of $ 822,000 and $ 1,239,000 for the years ended December 31, 2023 and 2022, respectively, and income of $ 782,000 for the year ended December 31, 2021, for our share of earnings, which is reflected as “(loss) income from unconsolidated real estate related funds” in our consolidated statements of income.

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	5. Investments in Unconsolidated Joint Ventures The following tables summarize our investments in unconsolidated joint ventures as of the dates thereof and the income or loss from these investments for the periods set forth below. (Amounts in thousands) Paramount As of December 31, Our Share of Investments: Ownership 2023 2022 712 Fifth Avenue (1) 50.0 % $ - $ - Market Center (1) 67.0 % - 192,948 55 Second Street (2) 44.1 % 30,322 85,340 111 Sutter Street (1) 49.0 % - - 1600 Broadway (2) 9.2 % 8,646 9,113 60 Wall Street (1) 5.0 % - 25,034 One Steuart Lane (2) 35.0 % (3) 89,949 77,961 Oder-Center, Germany (2) 9.5 % 3,322 3,107 Investments in unconsolidated joint ventures $ 132,239 $ 393,503 (Amounts in thousands) For the Year Ended December 31, Our Share of Net (Loss) Income: 2023 2022 2021 712 Fifth Avenue (1) $ - $ - $ ( 10,265 ) Market Center (1) ( 161,514 ) (4) ( 10,405 ) ( 11,848 ) 55 Second Street (2) ( 55,018 ) (5) ( 2,943 ) ( 2,912 ) 111 Sutter Street (1) - ( 35,190 ) (6) ( 2,658 ) 1600 Broadway (2) - ( 9 ) - 60 Wall Street (1) ( 25,001 ) (7) ( 89 ) 66 One Steuart Lane (2) ( 28,727 ) (8) ( 4,696 ) 2,678 Oder-Center, Germany (2) ( 38 ) 81 43 Loss from unconsolidated joint ventures $ ( 270,298 ) $ ( 53,251 ) $ ( 24,896 ) (1) At December 31, 2023, our basis in the joint ventures that own 712 Fifth Avenue, Market Center, 111 Sutter and 60 Wall Street was negative. Since we have no further obligation to fund additional capital to these joint ventures, we have discontinued the equity method of accounting, and accordingly, we no longer recognize our proportionate share of earnings. Instead, we recognize income only to the extent we receive cash distributions from the joint ventures and recognize losses to the extent we make cash contributions to the joint ventures. (2) As of December 31, 2023, the carrying amount of our investments in 55 Second Street, 1600 Broadway, One Steuart Lane and Oder-Center, Germany was greater than our share of equity in these investments by $ 462 , $ 306 , $ 590 , $ 4,063 , respectively, and primarily represents the unamortized portion of our capitalized acquisition costs. (3) Represents RDF’s economic interest in One Steuart Lane, a for-sale residential condominium project. Our economic interest in One Steuart Lane (based on our 7.4 % ownership interest in RDF) is 2.6 %. (4) In the fourth quarter of 2023, the joint venture that owns Market Center recognized a $ 341,872 real estate impairment loss, of which our 67.0 % share was $ 229,054 . Given that our share of the real estate impairment loss together with our share of operating and other losses recognized in the fourth quarter brought the basis of our investment in the joint venture below zero, in accordance with GAAP we were limited to recognizing $ 148,906 of the real estate impairment loss during the year ended December 31, 2023. (5) In the fourth quarter of 2023, the joint venture that owns 55 Second Street recognized a $ 119,279 real estate impairment loss, of which our share was $ 52,590 . (6) In the fourth quarter of 2022, the joint venture that owns 111 Sutter Street recognized a $ 64,663 real estate impairment loss, of which our share was $ 31,685 . (7) In May 2023, the joint venture that owns 60 Wall Street defaulted on the $ 575,000 non-recourse mortgage loan securing the property. The joint venture is currently in negotiations with the lender to modify the loan. Additionally, in the second quarter of 2023, the joint venture recognized a $ 455,893 real estate impairment loss, of which our share was $ 24,734 . (8) In the third quarter of 2023, One Steuart Lane recognized $ 68,407 of impairment losses related to residential condominium units, of which RDF’s share was $ 23,942 . The following tables provide the combined summarized financial information of our unconsolidated joint ventures as of the dates thereof and for the periods set forth below. (Amounts in thousands) As of December 31, Balance Sheets: 2023 2022 Real estate, net $ 1,528,595 $ 2,377,084 Cash and cash equivalents and restricted cash 167,355 252,540 Intangible assets, net 52,164 69,599 For-sale residential condominium units (1) 246,824 322,232 Other assets 84,179 87,054 Total assets $ 2,079,117 $ 3,108,509 Notes and mortgages payable, net $ 1,744,706 $ 1,834,916 Intangible liabilities, net 5,026 10,972 Other liabilities 98,462 50,783 Total liabilities 1,848,194 1,896,671 Equity 230,923 1,211,838 Total liabilities and equity $ 2,079,117 $ 3,108,509 (Amounts in thousands) For the Year Ended December 31, Income Statements: 2023 2022 2021 Revenues: Rental revenue $ 155,549 $ 194,031 $ 229,420 Other income (2) 11,234 65,850 139,705 Total revenues 166,783 259,881 369,125 Expenses: Operating (2) 169,826 (3) 152,313 220,396 Depreciation and amortization 67,727 85,949 107,079 Total expenses 237,553 238,262 327,475 Other income (expense): Interest and other income (loss), net 3,035 991 ( 111 ) Interest and debt expense ( 73,485 ) ( 62,173 ) ( 63,493 ) Real estate impairment loss ( 917,044 ) (4) ( 64,663 ) (5) - Loss before income taxes ( 1,058,264 ) ( 104,226 ) ( 21,954 ) Income tax expense ( 32 ) ( 60 ) ( 32 ) Net loss $ ( 1,058,296 ) $ ( 104,286 ) $ ( 21,986 ) (1) Represents residential condominium units at One Steuart Lane that are available for sale . (2) Includes proceeds and cost of sales from the sale of residential condominium units at One Steuart Lane. (3) Includes $ 68,407 of impairment losses related to condominium units at One Steuart Lane, of which RDF’s share was $ 23,942 . See note 8 on page 86 . (4) Represents real estate impairment losses related to Market Center, 55 Second Street, and 60 Wall Street, of which our share was $ 148,906 , $ 52,590 , and $ 24,734 , respectively. See notes 4, 5, and 7 on page 86 . (5) Represents a real estate impairment loss on 111 Sutter Street, of which our share was $ 31,685 .

Intangible Assets and Liabiliti

Intangible Assets and Liabilities	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Liabilities	6. Intangible Assets and Liabilities The following tables summarize our intangible assets (acquired above-market leases and acquired in-place leases) and intangible liabilities (acquired below-market leases) and the related amortization as of the dates thereof and for the periods set forth below. As of December 31, (Amounts in thousands) 2023 2022 Intangible assets: Gross amount $ 262,541 $ 337,104 Accumulated amortization ( 194,536 ) ( 246,723 ) $ 68,005 $ 90,381 Intangible liabilities: Gross amount $ 136,820 $ 138,726 Accumulated amortization ( 108,817 ) ( 102,533 ) $ 28,003 $ 36,193 For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Amortization of above and below-market leases, net $ 5,376 $ 1,748 $ 3,070 Amortization of acquired in-place leases $ 19,563 $ 21,645 $ 26,507 The following table sets forth annual amortization of acquired above and below-market leases, net and amortization of acquired in-place leases for each of the five succeeding years commencing from January 1, 2024. (Amounts in thousands) Above and Below- In-Place Leases 2024 $ 5,862 $ 14,631 2025 4,541 10,110 2026 2,711 7,501 2027 2,398 6,857 2028 2,318 6,778

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	7. Debt On September 27, 2023, a joint venture in which we have a 31.1 % interest, completed a $ 232,050,000 refinancing of 300 Mission Street, a 655,000 square foot Class A office building in San Francisco. The interest-only loan bears a fixed rate of 4.50 % and matures in October 2026 . The loan replaces the previous $ 273,000,000 loan that bore interest at 3.65 % and was scheduled to mature in October 2023 . The following table summarizes our consolidated outstanding debt. Maturity Fixed/ Interest Rate As of December 31, (Amounts in thousands) Date Variable Rate December 31, 2023 2023 2022 Notes and mortgages payable: 1633 Broadway (1) Dec-2029 Fixed 2.99 % $ 1,250,000 $ 1,250,000 One Market Plaza (1) Feb-2024 (2) Fixed 4.03 % 975,000 975,000 1301 Avenue of the Americas Aug-2026 Fixed (3) 2.49 % 500,000 500,000 Aug-2026 SOFR + 368 bps (4) 8.18 % 360,000 360,000 4.87 % 860,000 860,000 31 West 52nd Street Jun-2026 Fixed 3.80 % 500,000 500,000 300 Mission Street (1) Oct-2026 Fixed 4.50 % 232,050 273,000 Total notes and mortgages payable 3.88 % 3,817,050 3,858,000 Less: unamortized deferred financing costs ( 13,566 ) ( 17,682 ) Total notes and mortgages payable, net $ 3,803,484 $ 3,840,318 $750 Million Revolving Mar-2026 SOFR + 135 bps n/a $ - $ - (1) Our ownership interests in 1633 Broadway, One Market Plaza and 300 Mission Street are 90.0 %, 49.0 % and 31.1 %, respectively. (2) This loan was modified and extended on February 1, 2024. See Note 22, Subsequent Events for detail. (3) Represents variable rate loans that have been fixed by interest rate swaps through August 2024. See Note 8, Derivative Instruments and Hedging Activities. On June 16, 2023, we amended the loans to replace LIBOR with SOFR, effective July 7, 2023. (4) Represents variable rate loans, where SOFR has been capped at 4.5 % through August 2024. See Note 8, Derivative Instruments and Hedging Activities. On June 16, 2023, we amended the loans to replace LIBOR with SOFR, effective July 7, 2023. The following table summarizes the principal repayments required for the next five years and thereafter in connection with our consolidated notes and mortgages payable and revolving credit facility as of December 31, 2023. Notes and Revolving (Amounts in thousands) Total Mortgages Payable Credit Facility 2024 $ 975,000 (1) $ 975,000 (1) $ - 2025 - - - 2026 1,592,050 1,592,050 - 2027 - - - 2028 - - - Thereafter 1,250,000 1,250,000 - (1) Represents the mortgage loan at One Market Plaza, which was modified and extended on February 1, 2024. See Note 22, Subsequent Events for detail.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	8. Derivative Instruments and Hedging Activities On July 29, 2021, in connection with the $ 860,000,000 refinancing of 1301 Avenue of the Americas, we had entered into interest rate swap agreements with an aggregate notional amount of $ 500,000,000 to fix LIBOR at 0.46 % through August 2024. On June 16, 2023, we amended the swap agreements to replace LIBOR with SOFR, effective July 7, 2023. We also entered into interest rate cap agreements with an aggregate notional amount of $ 360,000,000 to cap LIBOR at 2.00 % which expired in August 2023. Upon expiration of these agreements, we entered into new interest rate cap agreements for the same notional amount to cap SOFR at 4.50 % through August 2024. These interest rate swaps and interest rate caps are designated as cash flow hedges and therefore changes in their fair values are recognized in other comprehensive income or loss (outside of earnings). We recognized other comprehensive loss of $ 25,444,000 for the year ended December 31, 2023, and other comprehensive income of $ 31,839,000 and $ 6,857,000 for the years ended December 31, 2022 and 2021, respectively, from the changes in the fair value of these derivative financial instruments. See Note 10, Accumulated Other Comprehensive Income . During the next twelve months, we estimate that $ 13,008,000 of the amounts to be recognized in accumulated other comprehensive income will be reclassified as a decrease to interest expense. The table below provide additional details on our interest rate swaps and interest rate caps that are designated as cash flow hedges. Notional Effective Maturity Benchmark Strike Fair Value as of Property Amount Date Date Rate Rate December 31, 2023 December 31, 2022 (Amounts in thousands) 1301 Avenue of the Americas $ 500,000 Jul-2021 Aug-2024 SOFR 0.49 % $ 13,726 $ 32,681 Total interest rate swap assets designated as cash flow hedges (included in "other assets") $ 13,726 $ 32,681 Notional Effective Maturity Benchmark Strike Fair Value as of Property Amount Date Date Rate Rate December 31, 2023 December 31, 2022 (Amounts in thousands) 1301 Avenue of the Americas $ 360,000 Aug-2023 Aug-2024 SOFR 4.50 % $ 1,263 $ - 1301 Avenue of the Americas 360,000 Jul-2021 Aug-2023 LIBOR 2.00 % - 6,123 Total interest rate cap assets designated as cash flow hedges (included in "other assets") $ 1,263 $ 6,123 We have agreements with various derivative counterparties that contain provisions wherein a default on our indebtedness could be deemed a default on our derivative obligations, which would require us to settle our derivative obligations for cash. As of December 31, 2023, we did not have any obligations relating to our interest rate swaps or interest rate caps that contained such provisions.

Equity

Equity	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Equity	9. Equity Stock Repurchase Program On November 5, 2019, we received authorization from our board of directors to repurchase up to $ 200,000,000 of our common stock, from time to time, in the open market or in privately negotiated transactions. As of December 31, 2022, we had repurchased a total of 24,183,768 common shares at a weighted average of $ 7.65 per share or $ 185,000,000 in the aggregate. As of December 31, 2023, we have $ 15,000,000 available for future repurchases under the existing program. The amount and timing of future repurchases, if any, will depend on a number of factors, including, the price and availability of our shares, trading volume, general market conditions and available funding. The stock repurchase program may be suspended or discontinued at any time.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	10. Accumulated Other Comprehensive Income The following table sets forth changes in accumulated other comprehensive income or loss by component for the years ended December 31, 2023, 2022 and 2021, including amounts attributable to noncontrolling interests in the Operating Partnership. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Amount of income related to the cash flow hedges (1) $ 5,595 $ 39,865 $ 6,069 Amount reclassified from accumulated other comprehensive (1) ( 31,039 ) ( 8,026 ) 788 Amount of (loss) income related to unconsolidated joint ventures (2) ( 5,055 ) 18,859 5,562 Amounts reclassified from accumulated other comprehensive (2) ( 9,529 ) ( 374 ) 4,003 (1) Represents amounts related to interest rate swaps with an aggregate notional value of $ 500,000 and interest rate caps with an aggregate notional value of $ 360,000 , which were designated as cash flow hedges. (2) Primarily represents amounts related to interest rate swap with a notional value of $ 402,000 , which was designated as cash flow hedge.

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Noncontrolling Interests	11. Noncontrolling Interests Consolidated Joint Ventures Noncontrolling interests in consolidated joint ventures consist of equity interests held by third parties in 1633 Broadway, One Market Plaza and 300 Mission Street. As of December 31, 2023 and 2022, noncontrolling interests in our consolidated joint ventures aggregated $ 413,925,000 and $ 402,118,000 , respectively. Consolidated Real Estate Related Funds Noncontrolling interests in our consolidated real estate related funds consist of equity interests held by third parties in our Residential Development Fund and Fund X. As of December 31, 2023 and December 31, 2022, the noncontrolling interests in our consolidated real estate related funds aggregated $ 110,589,000 and $ 173,375,000 , respectively. Operating Partnership Noncontrolling interests in the Operating Partnership represent common units of the Operating Partnership that are held by third parties, including management, and units issued to management under equity incentive plans. Common units of the Operating Partnership may be tendered for redemption to the Operating Partnership for cash. We, at our option, may assume that obligation and pay the holder either cash or common shares on a one-for-one basis. Since the number of common shares outstanding is equal to the number of common units owned by us, the redemption value of each common unit is equal to the market value of each common share and distributions paid to each common unitholder is equivalent to dividends paid to common stockholders. As of December 31, 2023 and 2022, noncontrolling interests in the Operating Partnership on our consolidated balance sheets had a carrying amount of $ 287,089,000 and $ 242,982,000 , respectively, and a redemption value of $ 100,650,000 and $ 86,644,000 , respectively, based on the closing share price of our common stock on the New York Stock Exchange at the end of each year.

Variable Interest Entities ("VI

Variable Interest Entities ("VIEs")	12 Months Ended
	Dec. 31, 2023
Variable Interest Entities [Abstract]
Variable Interest Entities ("VIEs")	12. Variable Interest Entities (“VIEs”) In the normal course of business, we are the general partner of various types of investment vehicles, which may be considered VIEs. We may, from time to time, own equity or debt securities through vehicles, each of which are considered variable interests. Our involvement in financing the operations of the VIEs is generally limited to our investments in the entity. We consolidate these entities when we are deemed to be the primary beneficiary. Consolidated VIEs We are the sole general partner of, and owned approximately 91.8 % of, the Operating Partnership as of December 31, 2023. The Operating Partnership is considered a VIE and is consolidated in our consolidated financial statements. Since we conduct our business through and substantially all of our interests are held by the Operating Partnership, the assets and liabilities on our consolidated financial statements represent the assets and liabilities of the Operating Partnership. As of December 31, 2023 and 2022, the Operating Partnership held interests in consolidated VIEs owning properties and real estate related funds that were determined to be VIEs. The assets of these consolidated VIEs may only be used to settle the obligations of the entities and such obligations are secured only by the assets of the entities and are non-recourse to the Operating Partnership or us. The following table summarizes the assets and liabilities of consolidated VIEs of the Operating Partnership. As of December 31, (Amounts in thousands) 2023 2022 Real estate, net $ 3,284,532 $ 3,364,482 Cash and cash equivalents and restricted cash 176,354 144,446 Accounts and other receivables 10,005 13,647 Real estate related fund investments 775 105,369 Investments in unconsolidated joint ventures 89,949 77,961 Deferred rent receivable 207,938 197,658 Deferred charges, net 45,190 49,485 Intangible assets, net 38,209 50,553 Other assets 7,374 9,860 Total VIE assets $ 3,860,326 $ 4,013,461 Notes and mortgages payable, net $ 2,450,401 $ 2,489,902 Accounts payable and accrued expenses 48,952 61,492 Intangible liabilities, net 17,180 21,936 Other liabilities 5,852 6,051 Total VIE liabilities $ 2,522,385 $ 2,579,381 Unconsolidated VIEs As of December 31, 2023, the Operating Partnership held variable interests in entities that own our unconsolidated real estate related funds that were deemed to be VIEs. The following table summarizes our investments in these unconsolidated real estate related funds and the maximum risk of loss from these investments. As of December 31, (Amounts in thousands) 2023 2022 Investments $ 4,549 $ 3,411 Asset management fees and other receivables 18 21 Maximum risk of loss $ 4,567 $ 3,432

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	13. Fair Value Measurements Financial Assets Measured at Fair Value The following table summarizes the fair value of our financial assets that are measured at fair value on our consolidated balance sheets as of the dates set forth below, based on their levels in the fair value hierarchy. As of December 31, 2023 (Amounts in thousands) Total Level 1 Level 2 Level 3 Real estate related fund investments $ - $ - $ - $ - Interest rate swap and cap assets (included in "other assets") 14,989 - 14,989 - Total assets $ 14,989 $ - $ 14,989 $ - As of December 31, 2022 (Amounts in thousands) Total Level 1 Level 2 Level 3 Real estate related fund investments $ 105,369 $ - $ - $ 105,369 Interest rate swap and cap assets (included in "other assets") 38,804 - 38,804 - Total assets $ 144,173 $ - $ 38,804 $ 105,369 Real Estate Related Fund Investments Real estate related fund investments are comprised of investments in mezzanine loans made by Fund X. The investments are measured at fair value on our consolidated balance sheets and are classified as Level 3. The table below summarizes the changes in the fair value of real estate related fund investments for the year ended December 31, 2023 and the period from December 12, 2022 to December 31, 2022. Period from For the Year Ended December 12, 2022 to (Amounts in thousands) December 31, 2023 December 31, 2022 Beginning balance $ 105,369 $ - Consolidation of Fund X - 104,726 Additional investments 11,897 - Proceeds from sale of an investment ( 8,769 ) - Net realized losses ( 46,894 ) - Net unrealized (losses) gains ( 60,828 ) 643 Other, net ( 775 ) - Ending balance $ - $ 105,369 Financial Liabilities Not Measured at Fair Value Financial liabilities not measured at fair value on our consolidated balance sheets consist of notes and mortgages payable and the revolving credit facility. The following table summarizes the carrying amounts and fair value of these financial instruments as of the dates set forth below. As of December 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Notes and mortgages payable $ 3,817,050 $ 3,517,549 $ 3,858,000 $ 3,566,096 Revolving credit facility - - - - Total liabilities $ 3,817,050 $ 3,517,549 $ 3,858,000 $ 3,566,096

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	14. Leases The following table sets forth the details of our rental revenue. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Rental revenue: Fixed $ 635,314 $ 645,950 $ 635,513 Variable 76,156 56,869 54,905 Total rental revenue $ 711,470 $ 702,819 $ 690,418 The following table is a schedule of future undiscounted cash flows under non-cancelable operating leases in effect as of December 31, 2023, for each of the five succeeding years and thereafter commencing January 1, 2024. (Amounts in thousands) 2024 $ 620,031 2025 580,941 2026 503,576 2027 443,031 2028 440,988 Thereafter 1,969,146 Total $ 4,557,713

Fee and Other Income

Fee and Other Income	12 Months Ended
	Dec. 31, 2023
Revenues [Abstract]
Fee and Other Income	15. Fee and Other Income The following table sets forth the details of our fee and other income. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Fee income: Asset management $ 11,075 $ 12,270 $ 13,284 Property management 7,278 7,981 8,589 Acquisition, disposition, leasing and other 3,244 8,170 6,600 Total fee income 21,597 28,421 28,473 Other income (1) 9,721 9,137 7,895 Total fee and other income $ 31,318 $ 37,558 $ 36,368 (1) Primarily comprised of (i) tenant requested services, including cleaning, overtime heating and cooling and (ii) parking income. The following table sets forth the amounts receivable from our customers under our various fee agreements and are included as a component of “accounts and other receivables” on our consolidated balance sheets. Acquisition, Asset Property Disposition, Leasing (Amounts in thousands) Total Management Management and Other Accounts and other receivables: Balance as of December 31, 2022 $ 2,611 $ 2,138 $ 338 $ 135 Balance as of December 31, 2023 2,554 1,850 586 118 (Decrease) increase $ ( 57 ) $ ( 288 ) $ 248 $ ( 17 )

Interest and Debt Expense

Interest and Debt Expense	12 Months Ended
	Dec. 31, 2023
Interest and Debt Expense [Abstract]
Interest and Debt Expense	16. Interest and Debt Expense The following table sets forth the details of interest and debt expense. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Interest expense $ 146,771 $ 137,708 $ 132,887 Amortization of deferred financing costs 6,219 6,156 9,127 (1) Total interest and debt expense $ 152,990 $ 143,864 $ 142,014 (1) Includes $ 761 of expense from the non-cash write-off of deferred financing costs in connection with the $ 860,000 refinancing of 1301 Avenue of the Americas in July 2021.

Incentive Compensation

Incentive Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Incentive Compensation	17. Incentive Compensation Stock-Based Compensation Our Amended and Restated 2014 Equity Incentive Plan (the “Plan”) provides for grants of equity awards to our executive officers, non-employee directors and employees in order to attract and motivate talent for which we compete. In addition, equity awards are an effective management retention tool as they vest over multiple years based on continued employment. Equity awards are granted in the form of (i) restricted stock and (ii) long-term incentive plan (“LTIP”) units, which represent a class of partnership interests in our Operating Partnership and are typically comprised of Time-Based LTIP (“T-LTIP”) units, Performance-Based LTIP (“P-LTIP”) units, Time-Based Appreciation Only LTIP (“T-AOLTIP”) units and Performance-Based Appreciation Only LTIP (“P-AOLTIP”) units. Under the Plan, awards may be granted up to a maximum of 20,892,857 shares, if all awards granted are “full value awards,” as defined, and up to 41,785,714 shares, if all of the awards granted are “not full value awards,” as defined. “Full value awards” are awards that do not require the payment of an exercise price such as restricted stock, T-LTIP units and P-LTIP units. “Not full value awards” are awards that require the payment of an exercise price such as T-AOLTIP units and P-AOLTIP units. During the years ended December 31, 2023, 2022 and 2021, we recognized $ 20,321,000 , $ 19,003,000 and $ 18,612,000 , respectively, of expense in connection with stock-based compensation awards. 2023 Annual Equity Grants 2023 P-LTIPs On January 25, 2023, the Compensation Committee of our board of directors (the “Compensation Committee”) approved the 2023 performance program, a multi-year performance-based long-term incentive compensation program. Under the program, participants may earn awards in the form of P-LTIP units based on our achievement of rigorous Net Operating Income (“NOI”) goals over a three-year performance measurement period beginning on January 1, 2023 and continuing through December 31, 2025 . The amount of P-LTIP units otherwise earned based on the achievement of the NOI goals would then be increased or decreased based on our Total Shareholder Return (“TSR”) versus that of our New York City office REIT peers (comprised of Vornado Realty Trust, SL Green Realty Corp. and Empire State Realty Trust) but the modifier will not result in a total payout exceeding 100 % of the units granted. Additionally, if our TSR is negative over the three-year performance measurement period, then the number of P-LTIP units that are earned under the program will be reduced by 30.0 % of the number of such awards that otherwise would have been earned. Furthermore, awards earned under the program are subject to vesting based on continued employment with us through December 31, 2026, with 50.0 % of each award vesting upon the conclusion of the performance measurement period, and the remaining 50.0 % vesting on December 31, 2026. Our Named Executive Officers are required to hold earned awards for an additional year following vesting. The 2023 P-LTIP unit awards had a fair value of $ 7,067,000 on the date of the grant, which is being amortized into expense over the four-year vesting period using a graded vesting attribution method. 2023 T-LTIP Units, T-AOLTIP Units and Restricted Stock On January 25, 2023, we also granted an aggregate of 796,349 T-LTIP units, 2,054,270 T-AOLTIP units and 81,531 shares of Restricted Stock to our executive officers and employees that will vest over a period of three to four years and had an aggregate grant date fair value of $ 8,783,000 , which is being amortized into expense on a straight-line basis over the vesting period. Incentive and Retention Equity Grants In addition to the 2023 Annual Equity Grants that were made on January 25, 2023, the Compensation Committee granted on September 8, 2023, equity awards (“Incentive and Retention Equity Grants”) to a broad group of employees, including our executive officers. The purpose of the Incentive and Retention Grants is to further incentivize and align our executive officers and employees with our stockholders and to support employee retention. The Incentive and Retention Equity Grants were granted in the form of T-LTIP units and P-AOLTIP units, and are intended to be in lieu of the 2024 and 2025 Annual Equity Grants. A total of 4,112,044 T-LTIP units and 7,518,519 P-AOLTIP units were granted pursuant to the Incentive and Retention Equity Grants. These units had an aggregate grant date fair value of $ 28,863,000 , that is being amortized into expense over the four-year vesting period. Below are the details of the awards granted. T-LTIPs The T-LTIP units are subject to service-based vesting, with 50 % of the units vesting on October 1, 2026 and the remaining 50 % of the units vesting on October 1, 2027. Our Named Executive Officers are required to hold the T-LTIP units for an additional year following vesting. P-AOLTIP The P-AOLTIP units will only be earned and eligible to be converted into common units if the highest consecutive 20 -trading day average closing stock price of our common stock on the New York Stock Exchange during the 10-year term (“Applicable Price”) exceeds $ 5.12 , which was the closing stock price of our common stock on the New York Stock Exchange on the date of grant by the following performance levels: • No P-AOLTIP units are earned if the Applicable Price is less than 25 %, or $ 6.40 ; • 33 % of the P-AOLTIP units are earned if the Applicable Price is greater than 25 %, or $ 6.40 ; • 67 % of the P-AOLTIP units are earned if the Applicable Price is greater than 50 %, or $ 7.68 ; • 100 % of the P-AOLTIP units are earned if the Applicable Price is greater than 75 %, or $ 8.96 . The P-AOLTIP units are subject to linear interpolation for performance between levels. In addition, the P-AOLTIP units are also subject to time-based vesting, with 20 % of the earned units vesting on October 1, 2026 and the remaining 80 % of the earned units vesting on October 1, 2027. Furthermore, our Named Executive Officers are required to hold the earned P-AOLTIP units for an additional year following vesting. 2020 P-LTIPs The three-year performance measurement period with respect to our 2020 P-LTIP units ended on December 31, 2022. On January 25, 2023, the Compensation Committee determined that (i) our TSR ranked in the 75th percentile amongst the TSR of our New York City office REIT peers and (ii) our TSR ranked in the 37th percentile amongst the performance of the SNL U.S. Office REIT Index constituents, resulting in a payout of approximately 59.7 % of the 2020 P-LTIP units granted. Additionally, in accordance with the program, the final payout was reduced by 30.0 % since our TSR was negative over the three-year performance measurement period. Accordingly, only 443,713 , or 41.5 % of the 2020 P-LTIP units that were granted under the program, were earned. The following are additional details related to equity awards outstanding as of December 31, 2023. T-LTIP Units We grant our executive officers, non-employee directors and employees T-LTIP units which vest over a period of three to five years and are subject to a taxable book-up event, as defined. T-LTIP units are similar to common units of our Operating Partnership in that they are redeemable for cash, or at our election, may be converted on a one-for-one basis into shares of our common stock. The T-LTIP units granted in the year ended December 31, 2023 had a grant date fair value of $ 22,962,000 , which is being amortized into expense on a straight-line basis over the vesting period. As of December 31, 2023, there was $ 23,352,000 of total unrecognized compensation cost related to unvested T-LTIP units, which is expected to be recognized over a weighted-average period of 2.9 years. The following table summarizes our T-LTIP unit activity for the year ended December 31, 2023. Units Weighted-Average Grant-Date Fair Value (per unit) Unvested as of December 31, 2022 1,998,245 $ 9.56 Granted 5,153,019 4.46 Vested ( 676,793 ) 9.48 Cancelled or expired - - Unvested as of December 31, 2023 6,474,471 $ 5.51 T-AOLTIP Units We grant our executive officers T-AOLTIP units which vest over a period of three to four years . T-AOLTIP units are similar to stock options in that it permits the holder to realize the benefit of any increase in the per share value of our common stock above the value at the time the T-AOLTIP units were granted and can be converted into a number of common units of our Operating Partnership that have an aggregate value equal to such increase. The common units issued upon the conversion of T-AOLTIP units are redeemable for cash, or at our election, may be converted on a one-for-one basis into shares of our common stock. The T-AOLTIP units granted in the year ended December 31, 2023 had a grant date fair value of $ 3,752,000 , which is being amortized into expense on a straight-line basis over the vesting period. The fair value of the T-AOLTIP unit is estimated using an option-pricing model with weighted average expected volatility of 40.0 %, expected life of 4.8 years, risk free interest rate of 3.6 % and expected dividend yield of 3.7 %. As of December 31, 2023, there was $ 4,287,000 of total unrecognized compensation cost related to unvested T-AOLTIP units, which is expected to be recognized over a weighted-average period of 2.4 years. The following table summarizes our T-AOLTIP unit activity for the year ended December 31, 2023. Shares Weighted-Average Price Weighted-Average Aggregate Outstanding as of December 31, 2022 4,587,874 $ 8.80 Granted 2,054,270 6.17 Exercised - - Cancelled or expired - - Outstanding as of December 31, 2023 6,642,144 $ 7.99 5.1 $ - T-AOLTIP units vested and expected to vest as of 6,408,998 $ 8.00 5.1 $ - T-AOLTIP units exercisable as of December 31, 2023 3,311,485 $ 8.32 4.8 $ - P-LTIP Units We grant our executive officers and employees P-LTIP units under multi-year performance-based long-term equity compensation programs. The purpose of these performance programs is to further align the interests of our stockholders with that of management by encouraging our senior officers to create stockholder value in a “pay for performance” structure. Under the performance programs, participants may earn P-LTIP units based on our performance over a three-year performance measurement period. If the designated performance objectives are achieved, awards earned under the program are subject to vesting over a period of four years and are also subject to a taxable book-up event, as defined. The P-LTIP units granted in the year ended December 31, 2023 had a grant date fair value of $ 7,067,000 , which is being amortized into expense over the four-year vesting period using a graded vesting attribution method. As of December 31, 2023, there was $ 8,320,000 of total unrecognized compensation cost related to unvested P-LTIP units granted, which is expected to be recognized over a weighted average period of 2.1 years. The following table summarizes our P-LTIP unit activity for the year ended December 31, 2023. Units Weighted-Average Grant-Date Fair Value (per unit) Unvested as of December 31, 2022 4,307,802 $ 6.49 Granted 2,618,748 5.40 Earned and Vested ( 443,713 ) 6.99 Cancelled or expired ( 549,140 ) 6.99 Unvested as of December 31, 2023 5,933,697 $ 5.92 P-AOLTIP Units We grant our executive officers P-AOLTIP units which vest over a period of three to four years . P-AOLTIP units are similar to stock options in that it permits the holder to realize the benefit of any increase in the per share value of our common stock above the value at the time the P-AOLTIP units were granted, however the P-AOLTIP units will only be earned and eligible to be converted into common units if the requisite performance objectives are achieved. P-AOLTIP units earned can be converted into a number of common units of our Operating Partnership that have an aggregate value equal to such increase. The common units issued upon the conversion of P-AOLTIP units are redeemable for cash, or at our election, may be converted on a one-for-one basis into shares of our common stock. The P-AOLTIP units granted in the year ended December 31, 2023 had a grant date fair value of $ 11,428,000 , and is being amortized into expense over the vesting period. The fair value of the P-AOLTIP units granted is estimated using an option-pricing model with weighted average expected volatility of 34.0 %, expected life of 10.0 years, risk free interest rate of 4.5 % and expected dividend yield of 4.5 %. As of December 31, 2023, there was $ 9,500,000 of total unrecognized compensation cost related to unvested P-AOLTIP units granted, which is expected to be recognized over a weighted average period of 3.6 years. The following table summarizes our P-AOLTIP unit activity granted for the year ended December 31, 2023. Shares Weighted-Average Price Weighted-Average Aggregate Outstanding as of December 31, 2022 - $ - Granted 7,518,519 5.12 Exercised - - Cancelled or expired - - Outstanding as of December 31, 2023 7,518,519 $ 5.12 9.7 $ 376,000 P-AOLTIP units vested and expected 6,992,223 $ 5.12 9.7 $ 350,000 P-AOLTIP units exercisable as of - $ - - $ - Restricted Stock We grant shares of restricted stock to certain non-employee directors and our employees which vest over one to four years . The shares of restricted stock granted in the year ended December 31, 2023 had a grant date fair value of $ 743,000 , which is being amortized into expense on a straight-line basis over the vesting period. As of December 31, 2023, there was $ 1,421,000 of total unrecognized compensation cost related to restricted stock, which is expected to be recognized over a weighted-average period of 2.0 years. The table below summarizes our restricted stock activity for the year ended December 31, 2023. Shares Weighted-Average Grant-Date Fair Value (per share) Unvested as of December 31, 2022 269,108 $ 9.59 Granted 136,831 5.43 Vested ( 109,151 ) 9.87 Cancelled or expired ( 11,137 ) 9.76 Unvested as of December 31, 2023 285,651 $ 7.49 Stock Options We did no t grant any stock options in the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023, we had 1,988,993 stock options outstanding that had a weighted average exercise price of $ 17.05 per share and a remaining life of 1.7 years.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	18. Earnings Per Share The following table summarizes our net loss and the number of common shares used in the computation of basic and diluted loss per common share, which includes the weighted average number of common shares outstanding and the effect of dilutive potential common shares, if any. For the Year Ended December 31, (Amounts in thousands, except per share amounts) 2023 2022 2021 Numerator: Net loss attributable to common stockholders $ ( 259,744 ) $ ( 36,403 ) $ ( 20,354 ) Earnings allocated to unvested participating securities ( 50 ) ( 85 ) ( 70 ) Numerator for net loss per common share - basic and diluted ( 259,794 ) ( 36,488 ) ( 20,424 ) Denominator: Denominator for basic loss per common share - 216,922 221,310 218,701 Effect of dilutive stock-based compensation plans (1) - - - Denominator for diluted loss per common share - 216,922 221,310 218,701 Loss per common share - basic and diluted $ ( 1.20 ) $ ( 0.16 ) $ ( 0.09 ) (1) The effect of dilutive securities for the years ended December 31, 2023, 2022 and 2021 excludes 18,749 , 20,064 and 23,775 weighted average share equivalents, respectively, as their effect was anti-dilutive.

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Parties	19. Related Parties Management Agreements We provide property management, leasing and other related services to certain properties owned by members of the Otto Family. We recognized fee income of $ 1,042,000 , $ 1,322,000 and $ 1,726,000 for the years ended December 31, 2023, 2022 and 2021, respectively, in connection with these agreements, which is included as a component of “fee and other income” in our consolidated statements of income. As of December 31, 2023 and 2022, amounts owed to us under these agreements aggregated $ 40,000 and $ 52,000 , respectively, which are included as a component of “accounts and other receivables” on our consolidated balance sheets. We also provide asset management, property management, leasing and other related services to our unconsolidated joint ventures and real estate related funds. We recognized fee income of $ 16,567,000 , $ 24,315,000 and $ 23,240,000 for the years ended December 31, 2023, 2022 and 2021, respectively, in connection with these agreements, which is included as a component of “fee and other income” in our consolidated statements of income. As of December 31, 2023 and 2022, amounts owed to us under these agreements aggregated $ 2,552,000 and $ 3,032,000 , respectively, which are included as a component of “accounts and other receivables” on our consolidated balance sheets. HT Consulting GmbH We have an agreement with HT Consulting GmbH (“HTC”), a licensed broker in Germany, to supervise selling efforts for our joint ventures and private equity real estate related funds (or investments in feeder vehicles for these funds) to investors in Germany. Pursuant to this agreement, we have agreed to pay HTC for the costs incurred plus a mark-up of 10 %. HTC is 100 % owned by Albert Behler, our Chairman, Chief Executive Officer and President. We incurred costs aggregating $ 392,000 , $ 713,000 and $ 645,000 for the years ended December 31, 2023, 2022 and 2021, respectively, in connection with this agreement. As of December 31, 2023 and 2022, we owed $ 102,000 and $ 119,000 , respectively, to HTC under this agreement, which are included as a component of “accounts payable and accrued expenses” on our consolidated balance sheets. ParkProperty Capital, LP ParkProperty Capital, LP (“ParkProperty”), an entity partially owned by Katharina Otto-Bernstein (a member of our board of directors), leased 3,330 square feet at 1633 Broadway (“1633 Lease”). In December 2022, upon expiration of the 1633 Lease, ParkProperty entered into a five-year lease for 4,233 square feet at 1325 Avenue of the Americas. We recognized rental revenue of $ 276,000 , $ 220,000 and $ 212,000 in the years ended December 31, 2023, 2022 and 2021, respectively, pursuant to these leases. Mannheim Trust A subsidiary of Mannheim Trust leases 3,127 square feet of office space at 712 Fifth Avenue, our 50.0 % owned unconsolidated joint venture, pursuant to a lease agreement which expires in June 2025. The Mannheim Trust is for the benefit of the children of Dr. Martin Bussmann, who is a member of our board of directors. We recognized $ 183,000 , $ 364,000 and $ 362,000 for the year ended December 31, 2023, 2022 and 2021, respectively, for our share of rental income pursuant to this lease. Other We have entered into an agreement with Kramer Design Services (“Kramer Design”) to develop branding and signage for the amenity center at 1301 Avenue of the Americas. Kramer Design is 100 % owned by the spouse of Albert Behler, our Chairman, Chief Executive Officer and President. During the year ended December 31, 2023, we incurred and paid Kramer Design $ 165,000 , in connection with services rendered pursuant to this agreement.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	20. Commitments and Contingencies Insurance We carry commercial general liability coverage on our properties, with limits of liability customary within the industry. Similarly, we are insured against the risk of direct and indirect physical damage to our properties including coverage for the perils such as floods, earthquakes and windstorms. Our policies also cover the loss of rental income during an estimated reconstruction period. Our policies reflect limits and deductibles customary in the industry and specific to the buildings and portfolio. We also obtain title insurance policies when acquiring new properties. We currently have coverage for losses incurred in connection with both domestic and foreign terrorist-related activities, as well as cybersecurity incidents. While we do carry commercial general liability insurance, property insurance, terrorism insurance and cybersecurity insurance, these policies include limits and terms we consider commercially reasonable. In addition, there are certain losses (including, but not limited to, losses arising from known environmental conditions or acts of war) that are not insured, in full or in part, because they are either uninsurable or the cost of insurance makes it, in our belief, economically impractical to maintain such coverage. Should an uninsured loss arise against us, we would be required to use our own funds to resolve the issue, including litigation costs. We believe the policy specifications and insured limits are adequate given the relative risk of loss, the cost of the coverage and industry practice and, in consultation with our insurance advisors, we believe the properties in our portfolio are adequately insured. Other Commitments and Contingencies We are a party to various claims and routine litigation arising in the ordinary course of business. Some of these claims or others to which we may be subject from time to time may result in defense costs, settlements, fines or judgments against us, some of which are not, or cannot be, covered by insurance. Payment of any such costs, settlements, fines or judgments that are not insured could have an adverse impact on our financial position and results of operations. Should any litigation arise, we would contest it vigorously. In addition, certain litigation or the resolution of certain litigation may affect the availability or cost of some of our insurance coverage, which could adversely impact our results of operations and cash flow, expose us to increased risks that would be uninsured, and/or adversely impact our ability to attract officers and directors. The terms of our consolidated mortgage debt agreements in place include certain restrictions and covenants which may limit, among other things, certain investments, the incurrence of additional indebtedness and liens and the disposition or other transfer of assets and interests in the borrower and other credit parties, and require compliance with certain debt yield, debt service coverage and loan to value ratios. In addition, our revolving credit facility contains representations, warranties, covenants, other agreements and events of default customary for agreements of this type with comparable companies. As of December 31, 2023, we believe we are in compliance with all of our covenants. 718 Fifth Avenue - Put Right Prior to the Formation Transactions, an affiliate of our predecessor owned a 25.0 % interest in 718 Fifth Avenue, a five-story building containing 19,050 square feet of prime retail space that is located on the southwest corner of 56th Street and Fifth Avenue in New York (based on its 50.0 % interest in a joint venture that held a 50.0 % tenancy-in-common interest in the property). Prior to the completion of the Formation Transactions, this interest was sold to its partner in the 718 Fifth Avenue joint venture, who is also our joint venture partner in 712 Fifth Avenue, New York, New York. In connection with this sale, we granted our joint venture partner a put right, pursuant to which the 712 Fifth Avenue joint venture would be required to purchase the entire direct or indirect interests then held by our joint venture partner or its affiliates in 718 Fifth Avenue at a purchase price equal to the fair market value of such interests. The put right may be exercised at any time with the actual purchase occurring no earlier than 12 months after written notice is provided. If the put right is exercised and the 712 Fifth Avenue joint venture acquires the 50.0% tenancy-in-common interest in the property by our joint venture partner, we will own a 25.0 % interest in 718 Fifth Avenue based on current ownership interests. Transfer Tax Assessments During 2017, the New York City Department of Finance issued Notices of Determination (“Notices”) assessing additional transfer taxes (including interest and penalties) in connection with the transfer of interests in certain properties during our 2014 initial public offering. We believe, after consultation with legal counsel, that the likelihood of a loss is reasonably possible, and while it is not possible to predict the outcome of these Notices, we estimate the range of loss could be between $ 0 and $ 62,500,000 . Since no amount in this range is a better estimate than any other amount within the range, we have not accrued any liability arising from potential losses relating to these Notices in our consolidated financial statements.

Segments

Segments	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segments	21. Segments Our reportable segments are separated by region, based on two regions in which we conduct our business: New York and San Francisco. Our determination of segments is aligned with our method of internal reporting and the way our Chief Executive Officer, who is also our Chief Operating Decision Maker, makes key operating decisions, evaluates financial results and manages our business. The following tables provide Net Operating Income (“NOI”) for each reportable segment for the periods set forth below. For the Year Ended December 31, 2023 (Amounts in thousands) Total New York San Francisco Other Property-related revenues $ 721,191 $ 460,715 $ 261,954 $ ( 1,478 ) Property-related operating expenses ( 293,965 ) ( 204,301 ) ( 87,478 ) ( 2,186 ) NOI from unconsolidated joint ventures 37,360 12,880 24,347 133 NOI (1) $ 464,586 $ 269,294 $ 198,823 $ ( 3,531 ) For the Year Ended December 31, 2022 (Amounts in thousands) Total New York San Francisco Other Property-related revenues $ 711,956 $ 468,409 $ 245,560 $ ( 2,013 ) Property-related operating expenses ( 277,422 ) ( 199,085 ) ( 74,396 ) ( 3,941 ) NOI from unconsolidated joint ventures 45,141 13,257 31,596 288 NOI (1) $ 479,675 $ 282,581 $ 202,760 $ ( 5,666 ) For the Year Ended December 31, 2021 (Amounts in thousands) Total New York San Francisco Other Property-related revenues $ 698,313 $ 443,384 $ 258,188 $ ( 3,259 ) Property-related operating expenses ( 265,438 ) ( 191,793 ) ( 69,976 ) ( 3,669 ) NOI from unconsolidated joint ventures 43,597 11,303 32,221 73 NOI (1) $ 476,472 $ 262,894 $ 220,433 $ ( 6,855 ) (1) NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies. The following table provides a reconciliation of NOI to net loss attributable to common stockholders for the periods set forth below. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 NOI $ 464,586 $ 479,675 $ 476,472 Add (subtract) adjustments to arrive to net (loss) income: Fee income 21,597 28,421 28,473 Depreciation and amortization expense ( 250,644 ) ( 232,517 ) ( 232,487 ) General and administrative expenses ( 61,986 ) ( 59,487 ) ( 59,132 ) Loss from real estate related fund investments ( 96,375 ) ( 2,233 ) - NOI from unconsolidated joint ventures (excluding One Steuart Lane) ( 37,360 ) ( 45,141 ) ( 43,597 ) Loss from unconsolidated joint ventures ( 270,298 ) ( 53,251 ) ( 24,896 ) Interest and other income, net 14,837 5,174 3,017 Interest and debt expense ( 152,990 ) ( 143,864 ) ( 142,014 ) Other, net ( 1,244 ) ( 1,709 ) ( 134 ) (Loss) income before income taxes ( 369,877 ) ( 24,932 ) 5,702 Income tax expense ( 1,426 ) ( 3,265 ) ( 3,643 ) Net (loss) income ( 371,303 ) ( 28,197 ) 2,059 Less: net (income) loss attributable to noncontrolling interests in: Consolidated joint ventures ( 20,464 ) ( 13,981 ) ( 21,538 ) Consolidated real estate related funds 109,795 3,342 ( 2,893 ) Operating Partnership 22,228 2,433 2,018 Net loss attributable to common stockholders $ ( 259,744 ) $ ( 36,403 ) $ ( 20,354 ) The following table provides the total assets for each of our reportable segments as of the dates set forth below. (Amounts in thousands) Total Assets as of: Total New York San Francisco Other December 31, 2023 $ 8,006,215 $ 5,214,504 $ 2,342,395 $ 449,316 December 31, 2022 8,453,254 5,311,636 2,631,265 510,353 December 31, 2021 8,494,562 5,336,210 2,696,131 462,221

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	22. Subsequent Events On February 1, 2024, we, together with our joint venture partner, modified and extended the existing mortgage loan at One Market Plaza, a 1.6 million square-foot two-building trophy asset in San Francisco, California. The existing $ 975,000,000 loan, which bore interest at a fixed rate of 4.03 %, was scheduled to mature on February 6, 2024 . In connection with the modification, the loan balance was reduced to $ 850,000,000 , following a $ 125,000,000 paydown by the joint venture, of which our 49.0 % share was $ 61,250,000 . The modified loan bears interest at a fixed rate of 4.08 %, matures in February 2027 and has an option to extend for an additional year, subject to certain conditions.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	PARAMOUNT GROUP, INC. SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H COLUMN I (Amounts in thousands) Life on which Costs capitalized depreciation subsequent Gross amount at which Accumulated in latest Initial cost to company to acquisition carried at close of period depreciation Date of income Description Encumbrances Land Building and Land Building and Land Building and Total (1) and construction / renovation Date statement 1633 Broadway $ 1,250,000 $ 502,846 $ 1,398,341 $ - $ 174,719 $ 502,846 $ 1,573,060 $ 2,075,906 $ ( 400,865 ) 1971 / 2015 11/2014 5 to 40 Years 1301 Avenue of the Americas 860,000 406,039 1,051,697 - 211,701 406,039 1,263,398 1,669,437 ( 286,525 ) 1963 / 2023 11/2014 5 to 40 Years 31 West 52nd Street 500,000 221,318 604,994 - 85,288 221,318 690,282 911,600 ( 164,290 ) 1987 / 2019 11/2014 5 to 40 Years 1325 Avenue of the Americas - 174,688 370,553 - 65,007 174,688 435,560 610,248 ( 106,174 ) 1989 / 2019 11/2014 5 to 40 Years 900 Third Avenue - 103,741 296,031 - 31,657 103,741 327,688 431,429 ( 77,731 ) 1983 / 2023 11/2014 5 to 40 Years Total New York 2,610,000 1,408,632 3,721,616 - 568,372 1,408,632 4,289,988 5,698,620 ( 1,035,585 ) One Market Plaza 975,000 288,743 988,014 - 135,385 288,743 1,123,399 1,412,142 ( 273,645 ) 1976 / 2016 11/2014 5 to 40 Years 300 Mission Street 232,050 141,097 343,819 - 54,048 141,097 397,867 538,964 ( 73,036 ) 1968 / 2020 07/2017 5 to 40 Years One Front Street - 127,765 376,919 - 20,129 127,765 397,048 524,813 ( 78,301 ) 1979 12/2016 5 to 40 Years Total San Francisco 1,207,050 557,605 1,708,752 - 209,562 557,605 1,918,314 2,475,919 ( 424,982 ) Other - - - - 42,077 - 42,077 42,077 ( 11,252 ) 11/2014 5 to 40 Years Total $ 3,817,050 $ 1,966,237 $ 5,430,368 $ - $ 820,011 $ 1,966,237 $ 6,250,379 $ 8,216,616 $ ( 1,471,819 ) (1) The basis of the Company’s assets for tax purposes is approximately $ 2.3 billion lower than the amount reported for financial statement purposes. PARAMOUNT GROUP, INC. SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Real Estate: Beginning balance $ 8,143,777 $ 8,028,061 $ 7,963,315 Acquisitions - - - Additions during the year: Land - - - Buildings and improvements 107,156 127,102 111,340 Assets sold and written-off ( 34,317 ) ( 11,386 ) ( 46,594 ) Ending balance $ 8,216,616 $ 8,143,777 $ 8,028,061 Accumulated Depreciation: Beginning balance $ 1,297,553 $ 1,112,977 $ 966,697 Additions charged to expense 208,583 195,962 192,874 Accumulated depreciation related ( 34,317 ) ( 11,386 ) ( 46,594 ) Ending balance $ 1,471,819 $ 1,297,553 $ 1,112,977

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These consolidated financial statements include the accounts of Paramount and its consolidated subsidiaries, including the Operating Partnership. All significant intercompany balances and transactions have been eliminated in consolidation.
Real Estate	Real Estate Real estate is carried at cost less accumulated depreciation and amortization. Betterments, major renovations and certain costs directly related to the improvement of real estate are capitalized. Maintenance and repair expenses are charged to expense as incurred. Depreciation is recognized on a straight-line basis over estimated useful lives of the assets, which range from 5 to 40 years . Tenant improvements are amortized on a straight-line basis over the lives of the related leases, which approximate the useful lives of the assets. Upon the acquisition of real estate, we assess the fair value of acquired assets (including land, buildings and improvements, identified intangibles, such as acquired above-market leases and acquired in-place leases) and acquired liabilities (such as acquired below-market leases) and allocate the purchase price based on these assessments. We assess fair value based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known trends, and market/economic conditions. We record acquired intangible assets (including acquired above-market leases and acquired in-place leases) and acquired intangible liabilities (including below-market leases) at their estimated fair value. We amortize acquired above-market and below-market leases as a decrease or increase to rental revenue, respectively, over the lives of the respective leases. Amortization of acquired in-place leases is included as a component of “depreciation and amortization”. Our properties, including any related intangible assets, are individually reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment analyses are based on our current plans, intended holding periods and available market information at the time the analyses are prepared. An impairment exists when the carrying amount of an asset exceeds the aggregate projected future cash flows over the anticipated holding period on an undiscounted basis. An impairment loss is measured based on the excess of the property’s carrying amount over its estimated fair value. Estimates of fair value are determined using discounted cash flow models, which consider, among other things, anticipated holding periods, current market conditions and utilize unobservable quantitative inputs, including appropriate capitalization and discount rates. If our estimates of the projected future cash flows, anticipated holding periods, or market conditions change, our evaluation of impairment losses may be different and such differences could be material to our consolidated financial statements. The evaluation of anticipated cash flows is subjective and is based, in part, on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results. Plans to hold properties over longer periods decrease the likelihood of recording impairment losses. Real estate and related intangibles are classified as held for sale when all the necessary criteria are met. The criteria include (i) management, having the authority to approve action, commits to a plan to sell the property in its present condition, (ii) the sale of the property is at a price reasonable in relation to its current fair value and (iii) the sale is probable and expected to be completed within one year. Real estate and the related intangibles held for sale are carried at the lower of carrying amounts or estimated fair value less disposal costs. Depreciation and amortization is not recognized on real estate and related intangibles classified as assets held for sale.
Variable Interest Entities and Investments in Unconsolidated Joint Ventures and Funds	Variable Interest Entities (“VIEs”) and Investments in Unconsolidated Joint Ventures and Funds We consolidate VIEs in which we are considered to be the primary beneficiary. Entities are considered to be the primary beneficiary if they have both of the following characteristics: (i) the power to direct the activities that, when taken together, most significantly impact the VIE’s performance, and (ii) the obligation to absorb losses and right to receive the returns from the VIE that would be significant to the VIE. Our judgment with respect to our level of influence or control of an entity involves the consideration of various factors including the form of our ownership interest, our representation in the entity’s governance, the size of our investment, estimates of future cash flows, our ability to participate in policy making decisions and the rights of the other investors to participate in the decision making process and to replace us as manager and/or liquidate the joint venture, if applicable. We account for investments under the equity method when the requirements for consolidation are not met, and we have significant influence over the operations of the investee. Equity method investments, which consist of investments in unconsolidated joint ventures and funds are initially recorded at cost and subsequently adjusted for (i) our share of net income or loss, (ii) our share of other comprehensive income or loss, and (iii) cash contributions and distributions. To the extent that our cost basis is different than our share of the equity in the equity method investment, the basis difference allocated to depreciable assets is amortized into “loss from unconsolidated joint ventures” over the estimated useful life of the related asset. The agreements that govern our equity method investments may designate different percentage allocations among investors for profits and losses; however, our recognition of income or loss generally follows the investment’s distribution priorities, which may change upon the achievement of certain investment return thresholds. We may discontinue applying the equity method of accounting when the investment in the joint venture is reduced to zero and when we have no obligation to provide financial support to the joint venture. Upon discontinuing equity method accounting, we recognize income only to the extent we receive cash distributions from the joint venture and recognize losses to the extent we make cash contributions to the joint venture. We review our investments in unconsolidated joint ventures for impairment whenever events or changes and circumstances indicate a decline in the fair value of the investment below the investment carrying amount and such decline is other than temporary . Investments that do not qualify for consolidation or equity method accounting are accounted for under the cost method.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and short-term highly liquid investments with original maturities of three months or less. The majority of our cash and cash equivalents are held at major commercial banks, which may at times exceed the Federal Deposit Insurance Corporation limit. To date, we have not experienced any losses on our invested cash.
Restricted Cash	Restricted Cash Restricted cash consists primarily of cash restricted or escrowed under loan agreements for debt service, real estate taxes, property insurance, capital improvements and security deposits held on behalf of our tenants.
Deferred Charges	Deferred Charges Deferred charges include deferred leasing costs related to successful leasing activities and deferred financing costs related to our revolving credit facility. Deferred leasing costs consist of fees and direct costs related to successful leasing activities. Such deferred costs are amortized on a straight-line basis over the lives of the related leases and recognized in our consolidated statements of income as a component of “depreciation and amortization”. Deferred financing costs consist of fees and direct costs incurred in obtaining our revolving credit facility. Such deferred financing costs are amortized over the term of the revolving credit facility and are recognized as a component of “interest and debt expense” in our consolidated statements of income.
Deferred Financing Costs Related to Notes and Mortgages Payable	Deferred Financing Costs Related to Notes and Mortgages Payable Deferred financing costs related to notes and mortgages payable consists of fees and direct costs incurred in obtaining such financing and are recorded as a reduction of our notes and mortgages payable. Such costs are amortized over the terms of the related debt agreements and recognized as a component of “interest and debt expense” in our consolidated statements of income.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities We record all derivatives on our consolidated balance sheets at fair value in accordance with Accounting Standards Codification (“ASC”) Topic 815, Derivatives and Hedging . The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have designated a derivative as a hedge and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We use derivative financial instruments in the normal course of business to selectively manage or hedge a portion of the risk associated with our indebtedness and interest payments. Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish these objectives, we primarily use interest rate swaps and interest rate caps. Interest rate swaps and interest rate caps that are designated as hedges are so designated at the inception of the contract. We require that hedging derivative instruments be highly effective in reducing the risk exposure that they are designated to hedge. The changes in the fair value of interest rate swaps and interest rate caps that are designated as hedges are recognized in other comprehensive income or loss (outside of earnings) and subsequently reclassified to earnings over the term that the hedged transaction affects earnings.
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC Topic 820, Fair Value Measurement and Disclosures , defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The objective of fair value is to determine the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). ASC Topic 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 – quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 – observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 – unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment is necessary to interpret Level 2 and 3 inputs in determining the fair value of our financial and non-financial assets and liabilities. Accordingly, our fair value estimates, which are made at the end of each reporting period, may be different than the amounts that may ultimately be realized upon sale or disposition of these assets or settlement of these liabilities. We use the following methods and assumptions in estimating fair value for financial instruments that are presented at fair value on our consolidated balance sheets: Interest Rate Swaps and Interest Rate Caps Interest rate swaps and interest rate caps are valued by a third-party specialist using widely accepted valuation techniques. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed and variable cash payments or receipts. The variable cash payments or receipts are based on future interest rates derived from observable market interest rate curves. The fair values of interest rate caps are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the interest rate caps. The variable interest rates used in the calculation of expected cash receipts are based on future interest rates derived from observable market interest rate curves and volatilities. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs. We have determined that the significance of the impact of the credit valuation adjustments made to our derivative contracts was not significant to the overall valuation. As a result, all of our derivatives held as December 31, 2023, are classified as Level 2 in the fair value hierarchy. Real Estate Related Fund Investments Our real estate related fund investments include mezzanine loan investments made by Paramount Group Real Estate Fund X, LP (“Fund X”). Fund X qualifies as an investment company pursuant to ASC Topic 946, Financial Services - Investment Companies. Accordingly, the underlying investments are generally carried at fair value, except investments that have a fair value above par value and where the borrower has the option to prepay the loan are carried at par value. These investments are classified as Level 3 in the fair value hierarchy. We use the following methods and assumptions in estimating fair value for financial instruments that are not presented at fair value on our consolidated balance sheets, but are disclosed in the notes to our consolidated financial statements: Notes and Mortgages Payable Notes and mortgages payable are valued by a third-party specialist using the standard practice of modeling the contractual cash flows required under the instrument and discounting them back to their present value at the appropriate current risk adjusted interest rate. For floating rate debt, we use forward rates derived from observable market yield curves to project the expected cash payments we would be required to make under the instrument. The notes and mortgages payable are classified as Level 2 in the fair value hierarchy. The carrying values of all other financial instruments on our consolidated balance sheets, including cash and cash equivalents, restricted cash, accounts and other receivables and accounts payable and accrued expenses, approximate their fair values due to the short-term nature of these instruments.
Revenue Recognition	Revenue Recognition Rental Revenue We lease office, retail and storage space to tenants, primarily under non-cancellable operating leases which generally have terms ranging from five to fifteen years . Most of our leases provide tenants with extension options at either fixed or market rates and few of our leases provide tenants with options to early terminate, but such options generally impose an economic penalty on the tenant upon exercising. Rental revenue is recognized in accordance with ASC Topic 842, Leases, and includes (i) fixed payments of cash rents, which represents revenue each tenant pays in accordance with the terms of its respective lease and that is recognized on a straight-line basis over the non-cancellable term of the lease, and includes the effects of rent steps and rent abatements under the leases, (ii) variable payments of tenant reimbursements, which are recoveries of all or a portion of the operating expenses and real estate taxes of the property and is recognized in the same period as the expenses are incurred, (iii) amortization of acquired above and below-market leases, net and (iv) lease termination income. We evaluate the collectability of our tenant receivables for payments required under the lease agreements. If we determine that collectability is not probable, the difference between rental revenue recognized and rental payments received is recorded as an adjustment to “rental revenue” in our consolidated statements of income. Fee and Other Income Fee income includes (i) asset management fees, (ii) property management fees, (iii) fees relating to acquisitions, dispositions and leasing services and (iv) other fee income, and is recognized in accordance with ASC Topic 606, Revenue from Contracts with Customers . Fee income is generated from the various services we provide to our customers and is disaggregated based on the types of services we provide pursuant to ASC Topic 606. Fee income is recognized as and when we satisfy our performance obligations pursuant to contractual agreements. Property management and asset management services are provided continuously over time and revenue is recognized over that time. Fee income relating to acquisitions, dispositions and leasing services is recognized upon completion of the acquisition, disposition or leasing services as required in the contractual agreements. The amount of fee income to be recognized is stated in the contract as a fixed price or as a stated percentage of revenues, contributed capital or transaction price. Other income includes income from tenant requested services, including cleaning, overtime heating and cooling and parking income.
Stock-Based Compensation	Stock-Based Compensation We account for stock-based compensation in accordance with ASC Topic 718, Compensation – Stock Compensation . The fair value of the award on the date of grant (adjusted for estimated forfeitures) is ratably amortized into expense over the vesting period of the respective grants. The determination of fair value of these awards involves the use of significant estimates and assumptions, including expected volatility of our stock, expected dividend yield, expected term, and assumptions of whether these awards achieve the requisite performance criteria.
Income Taxes	Income Taxes We operate and have been organized in conformity with the requirements for qualification and taxation as a REIT for U.S. federal income tax purposes. So long as we qualify as a REIT, we generally will not be subject to U.S. federal income tax on our net income that we distribute currently to our stockholders. In order to maintain our qualification as a REIT, we are required under the Internal Revenue Code of 1986, as amended, to distribute at least 90 % of our taxable income (without regard to the deduction for dividends paid and excluding net capital gains) to our stockholders and meet certain other requirements. If, with respect to any taxable year, we fail to maintain our qualification as a REIT, and we are not entitled to relief under the relevant statutory provisions, we would be subject to income tax at regular corporate tax rates. Even if we qualify as a REIT, we may also be subject to certain state, local and franchise taxes. Under certain circumstances, U.S. federal income tax may be due on our undistributed taxable income. We treat certain consolidated subsidiaries, and may in the future elect to treat newly formed subsidiaries, as taxable REIT subsidiaries (“TRSs”). TRSs may participate in non-real estate related activities and/or perform non-customary services for tenants and are subject to federal and state income tax at regular corporate tax rates. Our TRSs had a combined current income tax expense of approximately $ 484,000 , $ 1,942,000 , and $ 2,024,000 for the years ended December 31, 2023, 2022 and 2021, respectively. In addition, our TRSs had combined deferred income tax expense of $ 181,000 , $ 101,000 and $ 703,000 for the years ended December 31, 2023, 2022 and 2021, respectively. The following table reconciles net loss attributable to Paramount Group, Inc. to estimated taxable income for the years ended December 31, 2023, 2022 and 2021. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Net loss attributable to Paramount Group, Inc. $ ( 259,744 ) $ ( 36,403 ) $ ( 20,354 ) Book to tax differences: Straight-lining of rents and amortization of above and 6,832 ( 5,780 ) 3,082 Depreciation and amortization 39,037 54,892 62,218 Stock-based compensation 19,052 17,607 16,933 Deferred compensation plan - - ( 28,793 ) (1) Our share of real estate impairment losses of 226,230 31,685 - Other, net 3,014 20,352 27,476 Estimated taxable income $ 34,421 $ 82,353 $ 60,562 (1) In December 2021, the deferred compensation plan was terminated and the net proceeds were distributed to the plan participants. The following table sets forth the characterization of dividend distributions for federal income tax purposes for the years ended December 31, 2023, 2022 and 2021. For the Year Ended December 31, 2023 2022 2021 Amount % Amount % Amount % Ordinary income $ 0.158 (1) 89.3 % $ 0.373 (1) 100.0 % $ 0.253 (1) 90.4 % Long-term capital gain - 0.0 % - 0.0 % 0.023 8.2 % Return of capital 0.019 10.7 % - 0.0 % 0.004 1.4 % Total $ 0.177 (2) 100.0 % $ 0.373 (3) 100.0 % $ 0.280 (4) 100.0 % (1) Represents amounts treated as “qualified REIT dividends” for purposes of Internal Revenue Code Section 199A. (2) Dividends declared in the fourth quarter of the year ended December 31, 2023 of $ 0.035 per share, that were paid in January 2024, were attributable to the year ending December 31, 2024 for federal income tax purposes. (3) Dividends declared in the fourth quarter of the year ended December 31, 2022 of $ 0.0775 per share, that were paid in January 2023, were a split-year dividend with $ 0.070425 per share attributable to the year ended December 31, 2022 for federal income tax purposes and the remaining $ 0.007075 per share attributable to the year ended December 31, 2023. (4) Dividends declared in the fourth quarter of the year ended December 31, 2021 of $ 0.07 per share, that were paid in January 2022, were attributable to the year ended December 31, 2022 for federal income tax purposes.
Segments	Segments Our reportable segments are separated by region, based on the two regions in which we conduct our business: New York and San Francisco. Our determination of segments is aligned with our method of internal reporting and the way our Chief Executive Officer, who is also our Chief Operating Decision Maker (“CODM”), makes key operating decisions, evaluates financial results and manages our business. See Note 21, Segments.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. Certain prior year balances have been reclassified to conform to current year presentation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, which adds ASC Topic 848, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 provides temporary optional expedients and exceptions to ease financial reporting burdens related to applying current GAAP to modifications of contracts, hedging relationships and other transactions in connection with the transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. ASU 2020-04 was effective beginning March 12, 2020 to December 31, 2022. In January 2021, the FASB issued ASU 2021-01 to clarify that certain optional expedients and exceptions apply to modifications of derivative contracts and certain hedging relationships affected by changes in the interest rates used for discounting cash flows, computing variation margin settlements, and for calculating price alignment interest. ASU 2021-01 was effective beginning January 7, 2021 to December 31, 2022. In December 2022, the FASB issued ASU 2022-06 to extend the effectiveness date of ASU 2020-04 and ASU 2021-01 from December 31, 2022 to December 31, 2024. In June 2023, we entered into loan modifications in connection with the transition from LIBOR to Secured Overnight Financing Rate (“SOFR”) for our variable rate loans and we applied the practical expedient to all such modifications. In August 2023, the FASB issued ASU 2023-05, an update to ASC Topic 805, Business Combinations . ASU 2023-05 clarifies existing guidance by requiring a joint venture to recognize and initially measure assets contributed and liabilities assumed at fair value, upon its formation, in the joint venture's separate financial statements. These amendments are effective prospectively for all joint venture formations with a formation date on or after January 1, 2025, with early adoption permitted. We will apply the provisions of ASU 2023-05 to new joint ventures, as applicable, but do not believe the adoption of ASU 2023-05 will have a material impact on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, an update to ASC Topic 280, Segment Reporting . ASU 2023-07 enhances the segment reporting by requiring disclosures of (i) the significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, (ii) the composition of the other segment items, including the nature and type of the other segment items, and (iii) the title and position of the CODM. ASU 2023-07 is effective for our year ending December 31, 2024 and for our interim periods that begin on January 1, 2025, with early adoption permitted. We are evaluating the impact of ASU 2023-07 on our consolidated financial statements.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Summary of Reconciliation Net Loss Attributable to Estimated Taxable Income	The following table reconciles net loss attributable to Paramount Group, Inc. to estimated taxable income for the years ended December 31, 2023, 2022 and 2021. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Net loss attributable to Paramount Group, Inc. $ ( 259,744 ) $ ( 36,403 ) $ ( 20,354 ) Book to tax differences: Straight-lining of rents and amortization of above and 6,832 ( 5,780 ) 3,082 Depreciation and amortization 39,037 54,892 62,218 Stock-based compensation 19,052 17,607 16,933 Deferred compensation plan - - ( 28,793 ) (1) Our share of real estate impairment losses of 226,230 31,685 - Other, net 3,014 20,352 27,476 Estimated taxable income $ 34,421 $ 82,353 $ 60,562 (1) In December 2021, the deferred compensation plan was terminated and the net proceeds were distributed to the plan participants.
Summary of Characterization of Dividend Distributions for Federal Income Tax Purposes	The following table sets forth the characterization of dividend distributions for federal income tax purposes for the years ended December 31, 2023, 2022 and 2021. For the Year Ended December 31, 2023 2022 2021 Amount % Amount % Amount % Ordinary income $ 0.158 (1) 89.3 % $ 0.373 (1) 100.0 % $ 0.253 (1) 90.4 % Long-term capital gain - 0.0 % - 0.0 % 0.023 8.2 % Return of capital 0.019 10.7 % - 0.0 % 0.004 1.4 % Total $ 0.177 (2) 100.0 % $ 0.373 (3) 100.0 % $ 0.280 (4) 100.0 % (1) Represents amounts treated as “qualified REIT dividends” for purposes of Internal Revenue Code Section 199A. (2) Dividends declared in the fourth quarter of the year ended December 31, 2023 of $ 0.035 per share, that were paid in January 2024, were attributable to the year ending December 31, 2024 for federal income tax purposes. (3) Dividends declared in the fourth quarter of the year ended December 31, 2022 of $ 0.0775 per share, that were paid in January 2023, were a split-year dividend with $ 0.070425 per share attributable to the year ended December 31, 2022 for federal income tax purposes and the remaining $ 0.007075 per share attributable to the year ended December 31, 2023. (4) Dividends declared in the fourth quarter of the year ended December 31, 2021 of $ 0.07 per share, that were paid in January 2022, were attributable to the year ended December 31, 2022 for federal income tax purposes.

Consolidated Real Estate Rela_2

Consolidated Real Estate Related Funds (Tables)	12 Months Ended
	Dec. 31, 2023
Real Estate Fund [Abstract]
Summary of Loss from Real Estate Related Fund Investments	The following table sets forth the details of income or loss from real estate related fund investments for the year ended December 31, 2023 and the period from December 12, 2022 to December 31, 2022. Period from For the Year Ended December 12, 2022 to (Amounts in thousands) December 31, 2023 December 31, 2022 Net investment income $ 11,347 $ 394 Net realized losses ( 46,894 ) - Net unrealized losses ( 60,828 ) - Loss recognized upon consolidation of real estate related - ( 2,627 ) Loss from real estate related fund investments ( 96,375 ) ( 2,233 ) Less: noncontrolling interests in consolidated real estate related fund 84,784 ( 420 ) Loss from real estate related fund investments attributable $ ( 11,591 ) $ ( 2,653 )

Investments in Unconsolidated_2

Investments in Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2023
Summary of Financial Information of Unconsolidated Joint Ventures	The following tables summarize our investments in unconsolidated joint ventures as of the dates thereof and the income or loss from these investments for the periods set forth below. (Amounts in thousands) Paramount As of December 31, Our Share of Investments: Ownership 2023 2022 712 Fifth Avenue (1) 50.0 % $ - $ - Market Center (1) 67.0 % - 192,948 55 Second Street (2) 44.1 % 30,322 85,340 111 Sutter Street (1) 49.0 % - - 1600 Broadway (2) 9.2 % 8,646 9,113 60 Wall Street (1) 5.0 % - 25,034 One Steuart Lane (2) 35.0 % (3) 89,949 77,961 Oder-Center, Germany (2) 9.5 % 3,322 3,107 Investments in unconsolidated joint ventures $ 132,239 $ 393,503 (Amounts in thousands) For the Year Ended December 31, Our Share of Net (Loss) Income: 2023 2022 2021 712 Fifth Avenue (1) $ - $ - $ ( 10,265 ) Market Center (1) ( 161,514 ) (4) ( 10,405 ) ( 11,848 ) 55 Second Street (2) ( 55,018 ) (5) ( 2,943 ) ( 2,912 ) 111 Sutter Street (1) - ( 35,190 ) (6) ( 2,658 ) 1600 Broadway (2) - ( 9 ) - 60 Wall Street (1) ( 25,001 ) (7) ( 89 ) 66 One Steuart Lane (2) ( 28,727 ) (8) ( 4,696 ) 2,678 Oder-Center, Germany (2) ( 38 ) 81 43 Loss from unconsolidated joint ventures $ ( 270,298 ) $ ( 53,251 ) $ ( 24,896 ) (1) At December 31, 2023, our basis in the joint ventures that own 712 Fifth Avenue, Market Center, 111 Sutter and 60 Wall Street was negative. Since we have no further obligation to fund additional capital to these joint ventures, we have discontinued the equity method of accounting, and accordingly, we no longer recognize our proportionate share of earnings. Instead, we recognize income only to the extent we receive cash distributions from the joint ventures and recognize losses to the extent we make cash contributions to the joint ventures. (2) As of December 31, 2023, the carrying amount of our investments in 55 Second Street, 1600 Broadway, One Steuart Lane and Oder-Center, Germany was greater than our share of equity in these investments by $ 462 , $ 306 , $ 590 , $ 4,063 , respectively, and primarily represents the unamortized portion of our capitalized acquisition costs. (3) Represents RDF’s economic interest in One Steuart Lane, a for-sale residential condominium project. Our economic interest in One Steuart Lane (based on our 7.4 % ownership interest in RDF) is 2.6 %. (4) In the fourth quarter of 2023, the joint venture that owns Market Center recognized a $ 341,872 real estate impairment loss, of which our 67.0 % share was $ 229,054 . Given that our share of the real estate impairment loss together with our share of operating and other losses recognized in the fourth quarter brought the basis of our investment in the joint venture below zero, in accordance with GAAP we were limited to recognizing $ 148,906 of the real estate impairment loss during the year ended December 31, 2023. (5) In the fourth quarter of 2023, the joint venture that owns 55 Second Street recognized a $ 119,279 real estate impairment loss, of which our share was $ 52,590 . (6) In the fourth quarter of 2022, the joint venture that owns 111 Sutter Street recognized a $ 64,663 real estate impairment loss, of which our share was $ 31,685 . (7) In May 2023, the joint venture that owns 60 Wall Street defaulted on the $ 575,000 non-recourse mortgage loan securing the property. The joint venture is currently in negotiations with the lender to modify the loan. Additionally, in the second quarter of 2023, the joint venture recognized a $ 455,893 real estate impairment loss, of which our share was $ 24,734 . (8) In the third quarter of 2023, One Steuart Lane recognized $ 68,407 of impairment losses related to residential condominium units, of which RDF’s share was $ 23,942 .
Unconsolidated Joint Ventures [Member]
Summary of Financial Information of Unconsolidated Joint Ventures	The following tables provide the combined summarized financial information of our unconsolidated joint ventures as of the dates thereof and for the periods set forth below. (Amounts in thousands) As of December 31, Balance Sheets: 2023 2022 Real estate, net $ 1,528,595 $ 2,377,084 Cash and cash equivalents and restricted cash 167,355 252,540 Intangible assets, net 52,164 69,599 For-sale residential condominium units (1) 246,824 322,232 Other assets 84,179 87,054 Total assets $ 2,079,117 $ 3,108,509 Notes and mortgages payable, net $ 1,744,706 $ 1,834,916 Intangible liabilities, net 5,026 10,972 Other liabilities 98,462 50,783 Total liabilities 1,848,194 1,896,671 Equity 230,923 1,211,838 Total liabilities and equity $ 2,079,117 $ 3,108,509 (Amounts in thousands) For the Year Ended December 31, Income Statements: 2023 2022 2021 Revenues: Rental revenue $ 155,549 $ 194,031 $ 229,420 Other income (2) 11,234 65,850 139,705 Total revenues 166,783 259,881 369,125 Expenses: Operating (2) 169,826 (3) 152,313 220,396 Depreciation and amortization 67,727 85,949 107,079 Total expenses 237,553 238,262 327,475 Other income (expense): Interest and other income (loss), net 3,035 991 ( 111 ) Interest and debt expense ( 73,485 ) ( 62,173 ) ( 63,493 ) Real estate impairment loss ( 917,044 ) (4) ( 64,663 ) (5) - Loss before income taxes ( 1,058,264 ) ( 104,226 ) ( 21,954 ) Income tax expense ( 32 ) ( 60 ) ( 32 ) Net loss $ ( 1,058,296 ) $ ( 104,286 ) $ ( 21,986 ) (1) Represents residential condominium units at One Steuart Lane that are available for sale . (2) Includes proceeds and cost of sales from the sale of residential condominium units at One Steuart Lane. (3) Includes $ 68,407 of impairment losses related to condominium units at One Steuart Lane, of which RDF’s share was $ 23,942 . See note 8 on page 86 . (4) Represents real estate impairment losses related to Market Center, 55 Second Street, and 60 Wall Street, of which our share was $ 148,906 , $ 52,590 , and $ 24,734 , respectively. See notes 4, 5, and 7 on page 86 . (5) Represents a real estate impairment loss on 111 Sutter Street, of which our share was $ 31,685 .

Intangible Assets and Liabili_2

Intangible Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets and Liabilities	The following tables summarize our intangible assets (acquired above-market leases and acquired in-place leases) and intangible liabilities (acquired below-market leases) and the related amortization as of the dates thereof and for the periods set forth below. As of December 31, (Amounts in thousands) 2023 2022 Intangible assets: Gross amount $ 262,541 $ 337,104 Accumulated amortization ( 194,536 ) ( 246,723 ) $ 68,005 $ 90,381 Intangible liabilities: Gross amount $ 136,820 $ 138,726 Accumulated amortization ( 108,817 ) ( 102,533 ) $ 28,003 $ 36,193 For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Amortization of above and below-market leases, net $ 5,376 $ 1,748 $ 3,070 Amortization of acquired in-place leases $ 19,563 $ 21,645 $ 26,507
Schedule of Estimated Annual Amortization of Acquired Below-Market Leases, Net of Acquired Above-Market Leases and In Place Leases	The following table sets forth annual amortization of acquired above and below-market leases, net and amortization of acquired in-place leases for each of the five succeeding years commencing from January 1, 2024. (Amounts in thousands) Above and Below- In-Place Leases 2024 $ 5,862 $ 14,631 2025 4,541 10,110 2026 2,711 7,501 2027 2,398 6,857 2028 2,318 6,778

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The following table summarizes our consolidated outstanding debt. Maturity Fixed/ Interest Rate As of December 31, (Amounts in thousands) Date Variable Rate December 31, 2023 2023 2022 Notes and mortgages payable: 1633 Broadway (1) Dec-2029 Fixed 2.99 % $ 1,250,000 $ 1,250,000 One Market Plaza (1) Feb-2024 (2) Fixed 4.03 % 975,000 975,000 1301 Avenue of the Americas Aug-2026 Fixed (3) 2.49 % 500,000 500,000 Aug-2026 SOFR + 368 bps (4) 8.18 % 360,000 360,000 4.87 % 860,000 860,000 31 West 52nd Street Jun-2026 Fixed 3.80 % 500,000 500,000 300 Mission Street (1) Oct-2026 Fixed 4.50 % 232,050 273,000 Total notes and mortgages payable 3.88 % 3,817,050 3,858,000 Less: unamortized deferred financing costs ( 13,566 ) ( 17,682 ) Total notes and mortgages payable, net $ 3,803,484 $ 3,840,318 $750 Million Revolving Mar-2026 SOFR + 135 bps n/a $ - $ - (1) Our ownership interests in 1633 Broadway, One Market Plaza and 300 Mission Street are 90.0 %, 49.0 % and 31.1 %, respectively. (2) This loan was modified and extended on February 1, 2024. See Note 22, Subsequent Events for detail. (3) Represents variable rate loans that have been fixed by interest rate swaps through August 2024. See Note 8, Derivative Instruments and Hedging Activities. On June 16, 2023, we amended the loans to replace LIBOR with SOFR, effective July 7, 2023. (4) Represents variable rate loans, where SOFR has been capped at 4.5 % through August 2024. See Note 8, Derivative Instruments and Hedging Activities. On June 16, 2023, we amended the loans to replace LIBOR with SOFR, effective July 7, 2023.
Summary of Principal Repayments Required For Notes and Mortgages Payable and Revolving Credit Facility	The following table summarizes the principal repayments required for the next five years and thereafter in connection with our consolidated notes and mortgages payable and revolving credit facility as of December 31, 2023. Notes and Revolving (Amounts in thousands) Total Mortgages Payable Credit Facility 2024 $ 975,000 (1) $ 975,000 (1) $ - 2025 - - - 2026 1,592,050 1,592,050 - 2027 - - - 2028 - - - Thereafter 1,250,000 1,250,000 - (1) Represents the mortgage loan at One Market Plaza, which was modified and extended on February 1, 2024. See Note 22, Subsequent Events for detail.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2023
Interest Rate Swap [Member]
Derivative [Line Items]
Schedule of Interest Rate Swaps and Interest Rate Caps	The table below provide additional details on our interest rate swaps and interest rate caps that are designated as cash flow hedges. Notional Effective Maturity Benchmark Strike Fair Value as of Property Amount Date Date Rate Rate December 31, 2023 December 31, 2022 (Amounts in thousands) 1301 Avenue of the Americas $ 500,000 Jul-2021 Aug-2024 SOFR 0.49 % $ 13,726 $ 32,681 Total interest rate swap assets designated as cash flow hedges (included in "other assets") $ 13,726 $ 32,681
Interest Rate Cap [Member]
Derivative [Line Items]
Schedule of Interest Rate Swaps and Interest Rate Caps	Notional Effective Maturity Benchmark Strike Fair Value as of Property Amount Date Date Rate Rate December 31, 2023 December 31, 2022 (Amounts in thousands) 1301 Avenue of the Americas $ 360,000 Aug-2023 Aug-2024 SOFR 4.50 % $ 1,263 $ - 1301 Avenue of the Americas 360,000 Jul-2021 Aug-2023 LIBOR 2.00 % - 6,123 Total interest rate cap assets designated as cash flow hedges (included in "other assets") $ 1,263 $ 6,123

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Summary of Changes in Accumulated Other Comprehensive Income by Component	The following table sets forth changes in accumulated other comprehensive income or loss by component for the years ended December 31, 2023, 2022 and 2021, including amounts attributable to noncontrolling interests in the Operating Partnership. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Amount of income related to the cash flow hedges (1) $ 5,595 $ 39,865 $ 6,069 Amount reclassified from accumulated other comprehensive (1) ( 31,039 ) ( 8,026 ) 788 Amount of (loss) income related to unconsolidated joint ventures (2) ( 5,055 ) 18,859 5,562 Amounts reclassified from accumulated other comprehensive (2) ( 9,529 ) ( 374 ) 4,003 (1) Represents amounts related to interest rate swaps with an aggregate notional value of $ 500,000 and interest rate caps with an aggregate notional value of $ 360,000 , which were designated as cash flow hedges. (2) Primarily represents amounts related to interest rate swap with a notional value of $ 402,000 , which was designated as cash flow hedge.

Variable Interest Entities ("_2

Variable Interest Entities ("VIEs") (Tables)	12 Months Ended
	Dec. 31, 2023
Consolidated VIEs [Member]
Summary of Assets and Liabilities of Consolidated Variable Interest Entities	The following table summarizes the assets and liabilities of consolidated VIEs of the Operating Partnership. As of December 31, (Amounts in thousands) 2023 2022 Real estate, net $ 3,284,532 $ 3,364,482 Cash and cash equivalents and restricted cash 176,354 144,446 Accounts and other receivables 10,005 13,647 Real estate related fund investments 775 105,369 Investments in unconsolidated joint ventures 89,949 77,961 Deferred rent receivable 207,938 197,658 Deferred charges, net 45,190 49,485 Intangible assets, net 38,209 50,553 Other assets 7,374 9,860 Total VIE assets $ 3,860,326 $ 4,013,461 Notes and mortgages payable, net $ 2,450,401 $ 2,489,902 Accounts payable and accrued expenses 48,952 61,492 Intangible liabilities, net 17,180 21,936 Other liabilities 5,852 6,051 Total VIE liabilities $ 2,522,385 $ 2,579,381
Unconsolidated VIEs [Member]
Summary of Investments in Unconsolidated Real Estate Funds and Maximum Risk of Loss from Investments	The following table summarizes our investments in these unconsolidated real estate related funds and the maximum risk of loss from these investments. As of December 31, (Amounts in thousands) 2023 2022 Investments $ 4,549 $ 3,411 Asset management fees and other receivables 18 21 Maximum risk of loss $ 4,567 $ 3,432

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Assets Measured at Fair Value	The following table summarizes the fair value of our financial assets that are measured at fair value on our consolidated balance sheets as of the dates set forth below, based on their levels in the fair value hierarchy. As of December 31, 2023 (Amounts in thousands) Total Level 1 Level 2 Level 3 Real estate related fund investments $ - $ - $ - $ - Interest rate swap and cap assets (included in "other assets") 14,989 - 14,989 - Total assets $ 14,989 $ - $ 14,989 $ - As of December 31, 2022 (Amounts in thousands) Total Level 1 Level 2 Level 3 Real estate related fund investments $ 105,369 $ - $ - $ 105,369 Interest rate swap and cap assets (included in "other assets") 38,804 - 38,804 - Total assets $ 144,173 $ - $ 38,804 $ 105,369
Summary of Changes in Fair Value of Real Estate Related Fund Investments	The table below summarizes the changes in the fair value of real estate related fund investments for the year ended December 31, 2023 and the period from December 12, 2022 to December 31, 2022. Period from For the Year Ended December 12, 2022 to (Amounts in thousands) December 31, 2023 December 31, 2022 Beginning balance $ 105,369 $ - Consolidation of Fund X - 104,726 Additional investments 11,897 - Proceeds from sale of an investment ( 8,769 ) - Net realized losses ( 46,894 ) - Net unrealized (losses) gains ( 60,828 ) 643 Other, net ( 775 ) - Ending balance $ - $ 105,369
Summary of Carrying Amounts and Fair Value of Financial Instruments	The following table summarizes the carrying amounts and fair value of these financial instruments as of the dates set forth below. As of December 31, 2023 As of December 31, 2022 Carrying Fair Carrying Fair Notes and mortgages payable $ 3,817,050 $ 3,517,549 $ 3,858,000 $ 3,566,096 Revolving credit facility - - - - Total liabilities $ 3,817,050 $ 3,517,549 $ 3,858,000 $ 3,566,096

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Rental Revenues	The following table sets forth the details of our rental revenue. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Rental revenue: Fixed $ 635,314 $ 645,950 $ 635,513 Variable 76,156 56,869 54,905 Total rental revenue $ 711,470 $ 702,819 $ 690,418
Schedule of Future Undiscounted Cash Flows Under Non-Cancelable Operating Leases	The following table is a schedule of future undiscounted cash flows under non-cancelable operating leases in effect as of December 31, 2023, for each of the five succeeding years and thereafter commencing January 1, 2024. (Amounts in thousands) 2024 $ 620,031 2025 580,941 2026 503,576 2027 443,031 2028 440,988 Thereafter 1,969,146 Total $ 4,557,713

Fee and Other Income (Tables)

Fee and Other Income (Tables)	12 Months Ended
	Dec. 31, 2023
Disaggregation of Revenue [Abstract]
Summary of Fee and Other Income	The following table sets forth the details of our fee and other income. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Fee income: Asset management $ 11,075 $ 12,270 $ 13,284 Property management 7,278 7,981 8,589 Acquisition, disposition, leasing and other 3,244 8,170 6,600 Total fee income 21,597 28,421 28,473 Other income (1) 9,721 9,137 7,895 Total fee and other income $ 31,318 $ 37,558 $ 36,368 (1) Primarily comprised of (i) tenant requested services, including cleaning, overtime heating and cooling and (ii) parking income.
Summary of Amount Receivable from Customers under Various Fee Agreement	The following table sets forth the amounts receivable from our customers under our various fee agreements and are included as a component of “accounts and other receivables” on our consolidated balance sheets. Acquisition, Asset Property Disposition, Leasing (Amounts in thousands) Total Management Management and Other Accounts and other receivables: Balance as of December 31, 2022 $ 2,611 $ 2,138 $ 338 $ 135 Balance as of December 31, 2023 2,554 1,850 586 118 (Decrease) increase $ ( 57 ) $ ( 288 ) $ 248 $ ( 17 )

Interest and Debt Expense (Tabl

Interest and Debt Expense (Tables)	12 Months Ended
	Dec. 31, 2023
Interest and Debt Expense [Abstract]
Details of Interest and Debt Expense	The following table sets forth the details of interest and debt expense. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Interest expense $ 146,771 $ 137,708 $ 132,887 Amortization of deferred financing costs 6,219 6,156 9,127 (1) Total interest and debt expense $ 152,990 $ 143,864 $ 142,014 (1) Includes $ 761 of expense from the non-cash write-off of deferred financing costs in connection with the $ 860,000 refinancing of 1301 Avenue of the Americas in July 2021.

Incentive Compensation (Tables)

Incentive Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Restricted Stock [Member]
Summary of LTIP Unit and Restricted Stock Activity	The table below summarizes our restricted stock activity for the year ended December 31, 2023. Shares Weighted-Average Grant-Date Fair Value (per share) Unvested as of December 31, 2022 269,108 $ 9.59 Granted 136,831 5.43 Vested ( 109,151 ) 9.87 Cancelled or expired ( 11,137 ) 9.76 Unvested as of December 31, 2023 285,651 $ 7.49
Long Term Incentive Plan [Member] | Performance Programs [Member]
Summary of LTIP Unit and Restricted Stock Activity	The following table summarizes our P-LTIP unit activity for the year ended December 31, 2023. Units Weighted-Average Grant-Date Fair Value (per unit) Unvested as of December 31, 2022 4,307,802 $ 6.49 Granted 2,618,748 5.40 Earned and Vested ( 443,713 ) 6.99 Cancelled or expired ( 549,140 ) 6.99 Unvested as of December 31, 2023 5,933,697 $ 5.92
Long Term Incentive Plan [Member] | Time-Based Unit Awards Program [Member]
Summary of LTIP Unit and Restricted Stock Activity	The following table summarizes our T-LTIP unit activity for the year ended December 31, 2023. Units Weighted-Average Grant-Date Fair Value (per unit) Unvested as of December 31, 2022 1,998,245 $ 9.56 Granted 5,153,019 4.46 Vested ( 676,793 ) 9.48 Cancelled or expired - - Unvested as of December 31, 2023 6,474,471 $ 5.51
Performance based AOLTIP [Member] | Performance Programs [Member]
Summary of Stock Option Activity	The following table summarizes our P-AOLTIP unit activity granted for the year ended December 31, 2023. Shares Weighted-Average Price Weighted-Average Aggregate Outstanding as of December 31, 2022 - $ - Granted 7,518,519 5.12 Exercised - - Cancelled or expired - - Outstanding as of December 31, 2023 7,518,519 $ 5.12 9.7 $ 376,000 P-AOLTIP units vested and expected 6,992,223 $ 5.12 9.7 $ 350,000 P-AOLTIP units exercisable as of - $ - - $ -
Time based AOLTIP [Member]
Summary of Stock Option Activity	The following table summarizes our T-AOLTIP unit activity for the year ended December 31, 2023. Shares Weighted-Average Price Weighted-Average Aggregate Outstanding as of December 31, 2022 4,587,874 $ 8.80 Granted 2,054,270 6.17 Exercised - - Cancelled or expired - - Outstanding as of December 31, 2023 6,642,144 $ 7.99 5.1 $ - T-AOLTIP units vested and expected to vest as of 6,408,998 $ 8.00 5.1 $ - T-AOLTIP units exercisable as of December 31, 2023 3,311,485 $ 8.32 4.8 $ -

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Summary of Computation of Earnings Per Share	The following table summarizes our net loss and the number of common shares used in the computation of basic and diluted loss per common share, which includes the weighted average number of common shares outstanding and the effect of dilutive potential common shares, if any. For the Year Ended December 31, (Amounts in thousands, except per share amounts) 2023 2022 2021 Numerator: Net loss attributable to common stockholders $ ( 259,744 ) $ ( 36,403 ) $ ( 20,354 ) Earnings allocated to unvested participating securities ( 50 ) ( 85 ) ( 70 ) Numerator for net loss per common share - basic and diluted ( 259,794 ) ( 36,488 ) ( 20,424 ) Denominator: Denominator for basic loss per common share - 216,922 221,310 218,701 Effect of dilutive stock-based compensation plans (1) - - - Denominator for diluted loss per common share - 216,922 221,310 218,701 Loss per common share - basic and diluted $ ( 1.20 ) $ ( 0.16 ) $ ( 0.09 ) (1) The effect of dilutive securities for the years ended December 31, 2023, 2022 and 2021 excludes 18,749 , 20,064 and 23,775 weighted average share equivalents, respectively, as their effect was anti-dilutive.

Segments (Tables)

Segments (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of NOI for Each Reportable Segment Information	The following tables provide Net Operating Income (“NOI”) for each reportable segment for the periods set forth below. For the Year Ended December 31, 2023 (Amounts in thousands) Total New York San Francisco Other Property-related revenues $ 721,191 $ 460,715 $ 261,954 $ ( 1,478 ) Property-related operating expenses ( 293,965 ) ( 204,301 ) ( 87,478 ) ( 2,186 ) NOI from unconsolidated joint ventures 37,360 12,880 24,347 133 NOI (1) $ 464,586 $ 269,294 $ 198,823 $ ( 3,531 ) For the Year Ended December 31, 2022 (Amounts in thousands) Total New York San Francisco Other Property-related revenues $ 711,956 $ 468,409 $ 245,560 $ ( 2,013 ) Property-related operating expenses ( 277,422 ) ( 199,085 ) ( 74,396 ) ( 3,941 ) NOI from unconsolidated joint ventures 45,141 13,257 31,596 288 NOI (1) $ 479,675 $ 282,581 $ 202,760 $ ( 5,666 ) For the Year Ended December 31, 2021 (Amounts in thousands) Total New York San Francisco Other Property-related revenues $ 698,313 $ 443,384 $ 258,188 $ ( 3,259 ) Property-related operating expenses ( 265,438 ) ( 191,793 ) ( 69,976 ) ( 3,669 ) NOI from unconsolidated joint ventures 43,597 11,303 32,221 73 NOI (1) $ 476,472 $ 262,894 $ 220,433 $ ( 6,855 ) (1) NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies.
Schedule of Reconciliation of NOI to Net Loss Income Attributable to Common Stockholders	The following table provides a reconciliation of NOI to net loss attributable to common stockholders for the periods set forth below. For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 NOI $ 464,586 $ 479,675 $ 476,472 Add (subtract) adjustments to arrive to net (loss) income: Fee income 21,597 28,421 28,473 Depreciation and amortization expense ( 250,644 ) ( 232,517 ) ( 232,487 ) General and administrative expenses ( 61,986 ) ( 59,487 ) ( 59,132 ) Loss from real estate related fund investments ( 96,375 ) ( 2,233 ) - NOI from unconsolidated joint ventures (excluding One Steuart Lane) ( 37,360 ) ( 45,141 ) ( 43,597 ) Loss from unconsolidated joint ventures ( 270,298 ) ( 53,251 ) ( 24,896 ) Interest and other income, net 14,837 5,174 3,017 Interest and debt expense ( 152,990 ) ( 143,864 ) ( 142,014 ) Other, net ( 1,244 ) ( 1,709 ) ( 134 ) (Loss) income before income taxes ( 369,877 ) ( 24,932 ) 5,702 Income tax expense ( 1,426 ) ( 3,265 ) ( 3,643 ) Net (loss) income ( 371,303 ) ( 28,197 ) 2,059 Less: net (income) loss attributable to noncontrolling interests in: Consolidated joint ventures ( 20,464 ) ( 13,981 ) ( 21,538 ) Consolidated real estate related funds 109,795 3,342 ( 2,893 ) Operating Partnership 22,228 2,433 2,018 Net loss attributable to common stockholders $ ( 259,744 ) $ ( 36,403 ) $ ( 20,354 )
Schedule of Total Assets for Each Reportable Segments Information	The following table provides the total assets for each of our reportable segments as of the dates set forth below. (Amounts in thousands) Total Assets as of: Total New York San Francisco Other December 31, 2023 $ 8,006,215 $ 5,214,504 $ 2,342,395 $ 449,316 December 31, 2022 8,453,254 5,311,636 2,631,265 510,353 December 31, 2021 8,494,562 5,336,210 2,696,131 462,221

Organization and Business - Add

Organization and Business - Additional Information (Details) ft² in Millions	12 Months Ended
	Dec. 31, 2023 ft² Properties
Real Estate Properties [Line Items]
Number of Real Estate Properties | Properties	18
Area of office and retail properties	13.8
New York [Member]
Real Estate Properties [Line Items]
Number of Real Estate Properties | Properties	8
Area of office and retail properties	8.7
New York [Member] | Office Space [Member]
Real Estate Properties [Line Items]
Area of office and retail properties	8.2
New York [Member] | Retail, Theater and Amenity Space [Member]
Real Estate Properties [Line Items]
Area of office and retail properties	0.5
San Francisco [Member]
Real Estate Properties [Line Items]
Number of Real Estate Properties | Properties	6
Area of office and retail properties	4.3
San Francisco [Member] | Office Space [Member]
Real Estate Properties [Line Items]
Area of office and retail properties	4.1
San Francisco [Member] | Retail Space [Member]
Real Estate Properties [Line Items]
Area of office and retail properties	0.2
New York And Washington, D.C [Member]
Real Estate Properties [Line Items]
Number of real estate properties managed | Properties	4
Area of office and retail properties	0.8
Variable Interest Entities [Member] | Paramount Group Operating Partnership [Member]
Real Estate Properties [Line Items]
Percentage of ownership in operating partnership	91.80%

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Additional Information (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) Segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Investment in joint venture	$ 393,503,000	$ 132,239,000	$ 393,503,000
Minimum percentage of taxable income distributed to shareholders		90%
Income tax expense		$ 1,426,000	3,265,000	$ 3,643,000
Number of reportable segments | Segment		2
111 Sutter Street [Member]
Proportionate share of impairment losses	$ 31,685,000		31,685,000
Taxable REIT Subsidiaries [Member]
Income tax expense		$ 484,000	1,942,000	2,024,000
Deferred income tax expense (benefit)		$ 181,000	$ 101,000	$ 703,000
Minimum [Member]
Estimated useful lives of the assets, years		5 years
Lease term		5 years
Maximum [Member]
Estimated useful lives of the assets, years		40 years
Lease term		15 years

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Summary of Reconciliation Net Income (Loss) Attributable to Estimated Taxable Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net Income (Loss)	$ (259,744)	$ (36,403)	$ (20,354)
Book to tax differences:
Straight-lining of rents and amortization of above and below-market leases, net	6,832	(5,780)	3,082
Depreciation and amortization	39,037	54,892	62,218
Stock-based compensation	19,052	17,607	16,933
Deferred compensation plan			(28,793)
Our share of real estate impairment losses of unconsolidated joint ventures	226,230	31,685
Other, net	3,014	20,352	27,476
Estimated taxable income	$ 34,421	$ 82,353	$ 60,562

Basis of Presentation and Sig_6

Basis of Presentation and Significant Accounting Policies - Summary of Characterization of Dividend Distributions for Federal Income Tax Purposes (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Cash dividend	$ 0.177	$ 0.373	$ 0.280
Ordinary income	89.30%	100%	90.40%
Long-term capital gain	0%	0%	8.20%
Return of capital	10.70%	0%	1.40%
Total	100%	100%	100%
Ordinary Income [Member]
Income Taxes [Line Items]
Cash dividend	$ 0.158	$ 0.373	$ 0.253
Long-Term Capital Gain [Member]
Income Taxes [Line Items]
Cash dividend			0.023
Return of Capital [Member]
Income Taxes [Line Items]
Cash dividend	$ 0.019		$ 0.004

Basis of Presentation and Sig_7

Basis of Presentation and Significant Accounting Policies - Summary of Characterization of Dividend Distributions for Federal Income Tax Purposes (Parenthetical) (Details) - $ / shares	3 Months Ended			12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Cash dividend	$ 0.035	$ 0.0775	$ 0.07
Split year dividend per share				$ 0.007075	$ 0.070425

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) ft² in Millions	Dec. 31, 2023 ft²
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Area of leased properties	13.8

Consolidated Real Estate Rela_3

Consolidated Real Estate Related Funds - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 11, 2022
One Steuart Lane [Member]
Real Estate Related Fund [Line Items]
Equity method economic interest percentage	2.60%
Fund X [Member]
Real Estate Related Fund [Line Items]
Equity method paramount ownership percentage			8.20%
Increase in ownership interest percentage		13%
Residential Development Fund's [Member]
Real Estate Related Fund [Line Items]
Equity method paramount ownership percentage	7.40%
Interest not owned as noncontrolling interest in real estate related funds	92.60%
Residential Development Fund's [Member] | One Steuart Lane [Member]
Real Estate Related Fund [Line Items]
Equity method paramount ownership percentage	35%

Consolidated Real Estate Rela_4

Consolidated Real Estate Related Funds - Summary of Loss From Real Estate Related Fund Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate Related Fund [Line Items]
Loss from real estate related fund investments	$ (96,375)	$ (2,233)	$ 0
Net loss attributable to common stockholders	(259,744)	(36,403)	$ (20,354)
Fund X [Member]
Real Estate Related Fund [Line Items]
Net investment income	11,347	394
Net realized losses	(46,894)
Net unrealized losses	(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	(96,375)	(2,233)
Less: noncontrolling interests in consolidated real estate related fund	84,784	(420)
Net loss attributable to common stockholders	$ (11,591)	$ (2,653)

Investments in Unconsolidated_3

Investments in Unconsolidated Real Estate Related Funds - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 11, 2022
Real Estate [Line Items]
Investments in the unconsolidated real estate related funds	$ 4,549,000	$ 3,411,000
(losses) from unconsolidated real estate funds	$ (822,000)	$ (1,239,000)	$ 782,000
Fund VIII [Member]
Real Estate [Line Items]
Alternative Investment Fund Ownership Interest Percentage	1.30%
Fund X [Member]
Real Estate [Line Items]
Alternative Investment Fund Ownership Interest Percentage				8.20%
Alternative Investment Fund Ownership Interest Percentage		13%

Investments in Unconsolidated_4

Investments in Unconsolidated Joint Ventures - Summary of Investments and Income from Investments In Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures	$ 132,239	$ 393,503
Loss from unconsolidated joint ventures	$ (270,298)	(53,251)	$ (24,896)
712 Fifth Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	50%
Loss from unconsolidated joint ventures			(10,265)
Market Center [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	67%
Investments in unconsolidated joint ventures		192,948
Loss from unconsolidated joint ventures	$ (161,514)	(10,405)	(11,848)
55 Second Street [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	44.10%
Investments in unconsolidated joint ventures	$ 30,322	85,340
Loss from unconsolidated joint ventures	$ (55,018)	(2,943)	(2,912)
111 Sutter Street [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	49%
Loss from unconsolidated joint ventures		(35,190)	(2,658)
1600 Broadway [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	9.20%
Investments in unconsolidated joint ventures	$ 8,646	9,113
Loss from unconsolidated joint ventures		(9)
60 Wall Street [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	5%
Investments in unconsolidated joint ventures		25,034
Loss from unconsolidated joint ventures	$ (25,001)	(89)	66
One Steuart Lane [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	35%
Investments in unconsolidated joint ventures	$ 89,949	77,961
Loss from unconsolidated joint ventures	$ (28,727)	(4,696)	2,678
Oder-Center, Germany [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	9.50%
Investments in unconsolidated joint ventures	$ 3,322	3,107
Loss from unconsolidated joint ventures	$ (38)	$ 81	$ 43

Investments in Unconsolidated_5

Investments in Unconsolidated Joint Ventures - Summary of Investments and Income from Investments In Unconsolidated Joint Ventures (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 31, 2023
Schedule Of Equity Method Investments [Line Items]
Distributions of earnings from unconsolidated joint ventures					$ 17,096	$ 1,324	$ 7,278
Contribution to the joint venture					$ 40,715	15,812	$ 11,750
712 Fifth Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	50%				50%
55 Second Street [Member]
Schedule Of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss	$ 52,590				$ 52,590
Difference between carrying amount of investment and equity	$ 462				$ 462
Equity method paramount ownership percentage	44.10%				44.10%
Real estate impairment loss	$ 119,279				$ 119,279
Market Center [Member]
Schedule Of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss	$ 229,054				$ 229,054
Equity method paramount ownership percentage	67%				67%
Recognized real estate impairment loss	$ 148,906				$ 148,906
Real estate impairment loss	$ 341,872				$ 341,872
111 Sutter Street [Member]
Schedule Of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss				$ 31,685		31,685
Equity method paramount ownership percentage	49%				49%
Real estate impairment loss				$ 64,663		$ 64,663
1600 Broadway [Member]
Schedule Of Equity Method Investments [Line Items]
Difference between carrying amount of investment and equity	$ 306				$ 306
Equity method paramount ownership percentage	9.20%				9.20%
60 Wall Street [Member]
Schedule Of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss			$ 24,734		$ 24,734
Equity method paramount ownership percentage	5%				5%
Real estate impairment loss			$ 455,893		$ 455,893
60 Wall Street [Member] | Nonrecourse [Member]
Schedule Of Equity Method Investments [Line Items]
Defaulted on non-recourse mortgage loan								$ 575,000
One Steuart Lane [Member]
Schedule Of Equity Method Investments [Line Items]
Difference between carrying amount of investment and equity	$ 590				$ 590
Equity method paramount ownership percentage	35%				35%
Equity method economic interest percentage					2.60%
Impairment loss on for sale condominium units		$ 68,407			$ 68,407
One Steuart Lane [Member] | Residential Development Fund's [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	7.40%				7.40%
Proportionate share of impairment loss on for sale condominium units		$ 23,942			$ 23,942
Oder-Center, Germany [Member]
Schedule Of Equity Method Investments [Line Items]
Difference between carrying amount of investment and equity	$ 4,063				$ 4,063
Equity method paramount ownership percentage	9.50%				9.50%

Investments in Unconsolidated_6

Investments in Unconsolidated Joint Ventures - Summary of Financial Information of Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Total assets		$ 8,006,215	[1]	$ 8,453,254	[1]	$ 8,494,562
Total liabilities	[1]	3,991,327		4,042,488
Equity		3,203,285		3,592,291
Total liabilities and equity		8,006,215		8,453,254
Rental revenue		711,470		702,819		690,418
Other income		9,721		9,137		7,895
Total revenues		742,788		740,377		726,786
Operating		293,965		277,422		265,438
Depreciation and amortization		250,644		232,517		232,487
Total expenses		607,017		569,896		557,973
Interest and other (loss) income, net		14,837		5,174		3,017
Interest and debt expense		(152,990)		(143,864)		(142,014)
Loss before income taxes		(369,877)		(24,932)		5,702
Income tax expense		(1,426)		(3,265)		(3,643)
Net loss attributable to common stockholders		(259,744)		(36,403)		(20,354)
Unconsolidated Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Real estate, net		1,528,595		2,377,084
Cash and cash equivalents and restricted cash		167,355		252,540
Intangible assets, net		52,164		69,599
For-sale residential condominium units	[2]	246,824		322,232
Other assets		84,179		87,054
Total assets		2,079,117		3,108,509
Notes and mortgages payable, net		1,744,706		1,834,916
Intangible liabilities, net		5,026		10,972
Other liabilities		98,462		50,783
Total liabilities		1,848,194		1,896,671
Equity		230,923		1,211,838
Total liabilities and equity		2,079,117		3,108,509
Rental revenue		155,549		194,031		229,420
Other income	[3]	11,234		65,850		139,705
Total revenues		166,783		259,881		369,125
Operating	[3]	169,826	[4]	152,313		220,396
Depreciation and amortization		67,727		85,949		107,079
Total expenses		237,553		238,262		327,475
Interest and other (loss) income, net		3,035		991		(111)
Interest and debt expense		(73,485)		(62,173)		(63,493)
Real estate impairment loss		(917,044)	[5]	(64,663)	[6]
Loss before income taxes		(1,058,264)		(104,226)		(21,954)
Income tax expense		(32)		(60)		(32)
Net loss attributable to common stockholders		$ (1,058,296)		$ (104,286)		$ (21,986)
[1] Represents the consolidated assets and liabilities of Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). The Operating Partnership is a consolidated variable interest entity (“VIE”), of which we are the sole general partner and own approximately 91.8 % as of December 31, 2023. As of December 31, 2023, the assets and liabilities of the Operating Partnership include $ 3,860,326 and $ 2,522,385 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”) . Represents residential condominium units at One Steuart Lane that are available for sale Includes proceeds and cost of sales from the sale of residential condominium units at One Steuart Lane. Includes $ 68,407 of impairment losses related to condominium units at One Steuart Lane, of which RDF’s share was $ 23,942 . See note 8 on page Represents real estate impairment losses related to Market Center, 55 Second Street, and 60 Wall Street, of which our share was $ 148,906 , $ 52,590 , and $ 24,734 , respectively. See notes 4, 5, and 7 on page 86 . Represents a real estate impairment loss on 111 Sutter Street, of which our share was $ 31,685 .

Investments in Unconsolidated_7

Investments in Unconsolidated Joint Ventures - Summary of Financial Information of Unconsolidated Joint Ventures (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
111 Sutter Street [Member]
Schedule of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss				$ 31,685		$ 31,685
One Steuart Lane [Member]
Schedule of Equity Method Investments [Line Items]
Impairment loss on for sale condominium units		$ 68,407			$ 68,407
One Steuart Lane [Member] | Residential Development Fund's [Member]
Schedule of Equity Method Investments [Line Items]
Proportionate share of impairment loss on for sale condominium units		$ 23,942			23,942
Market Center [Member]
Schedule of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss	$ 229,054				229,054
Recognized real estate impairment loss	148,906				148,906
55 Second Street [Member]
Schedule of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss	52,590				52,590
60 Wall Street [Member]
Schedule of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss			$ 24,734		24,734
Unconsolidated Joint Ventures [Member] | 111 Sutter Street [Member]
Schedule of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss						$ 31,685
Unconsolidated Joint Ventures [Member] | One Steuart Lane [Member]
Schedule of Equity Method Investments [Line Items]
Impairment loss on for sale condominium units					68,407
Unconsolidated Joint Ventures [Member] | One Steuart Lane [Member] | Residential Development Fund's [Member]
Schedule of Equity Method Investments [Line Items]
Proportionate share of impairment loss on for sale condominium units					23,942
Unconsolidated Joint Ventures [Member] | Market Center [Member]
Schedule of Equity Method Investments [Line Items]
Recognized real estate impairment loss	148,906				148,906
Unconsolidated Joint Ventures [Member] | 55 Second Street [Member]
Schedule of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss	$ 52,590				52,590
Unconsolidated Joint Ventures [Member] | 60 Wall Street [Member]
Schedule of Equity Method Investments [Line Items]
Proportionate share of real estate impairment loss					$ 24,734

Intangible Assets and Intangibl

Intangible Assets and Intangible Liabilities - Summary of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangible assets:
Gross amount	$ 262,541	$ 337,104
Accumulated amortization	(194,536)	(246,723)
Intangible assets, Net	68,005	90,381
Intangible liabilities:
Gross amount	136,820	138,726
Accumulated amortization	(108,817)	(102,533)
Intangible Liabilities, Net	28,003	36,193
Amortization of above and below-market leases, net (component of "rental revenue")	(5,376)	(1,748)	$ (3,070)
Leases, Acquired-in-Place, Market Adjustment [Member]
Intangible liabilities:
Amortization of above and below-market leases, net (component of "rental revenue")	5,376	1,748	3,070
Leases, Acquired-in-Place [Member]
Intangible liabilities:
Amortization of acquired in-place leases (component of "depreciation and amortization")	$ 19,563	$ 21,645	$ 26,507

Intangible Assets and Intangi_2

Intangible Assets and Intangible Liabilities - Schedule of Estimated Annual Amortization of Acquired Below-Market Leases, Net of Acquired Above-Market Leases and In Place Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Finite Lived Intangible Assets [Line Items]
2024	$ 5,862
2025	4,541
2026	2,711
2027	2,398
2028	2,318
Leases, Acquired-in-Place [Member]
Finite Lived Intangible Assets [Line Items]
2024	14,631
2025	10,110
2026	7,501
2027	6,857
2028	$ 6,778

Debt - Additional Information (

Debt - Additional Information (Details)			12 Months Ended
	Sep. 27, 2023 USD ($) ft²	Sep. 26, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Proceeds from new loan			$ 232,050,000		$ 888,566,000
Debt instrument effective percentage			3.88%
Loan repayment amount			$ 273,000,000		$ 850,000,000
300 Mission Street [Member]
Debt Instrument [Line Items]
Ownership percentage of Property	31.10%		31.10%	31.10%
Proceeds from new loan	$ 232,050,000
Number of square foot | ft²	655,000
Debt instrument effective percentage	4.50%	3.65%
Long term debt maturity year and month	2026-10	2023-10
Loan repayment amount		$ 273,000,000

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Sep. 27, 2023	Sep. 26, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate	3.88%
Credit Facility	$ 0			$ 0
Notes and mortgages payable	3,817,050,000			3,858,000,000
Less: unamortized deferred financing costs	(13,566,000)			(17,682,000)
Total notes and mortgages payable, net	$ 3,803,484,000			3,840,318,000
Credit Facility With Variable Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date of debt	2026-03
Credit Facility With Variable Rate [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Fixed/Variable Rate	1.35%
1633 Broadway [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2029-12
Notes and mortgages payable, Interest Rate	2.99%
Notes and mortgages payable	$ 1,250,000,000			1,250,000,000
One Market Plaza [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate	4.03%
Notes and mortgages payable	$ 975,000,000
One Market Plaza [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2024-02
Notes and mortgages payable, Interest Rate	4.03%
Notes and mortgages payable	$ 975,000,000			975,000,000
1301 Avenue of the Americas [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate	4.87%
Notes and mortgages payable	$ 860,000,000			860,000,000
1301 Avenue of the Americas [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2026-08
Notes and mortgages payable, Interest Rate	2.49%
Notes and mortgages payable	$ 500,000,000			500,000,000
1301 Avenue of the Americas [Member] | Mortgages and Notes Payable with Variable Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2026-08
Notes and mortgages payable, Interest Rate	8.18%
Notes and mortgages payable	$ 360,000,000			360,000,000
1301 Avenue of the Americas [Member] | Mortgages and Notes Payable with Variable Rate [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument [Line Items]
Fixed/Variable Rate	3.68%
31 West 52nd Street [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2026-06
Notes and mortgages payable, Interest Rate	3.80%
Notes and mortgages payable	$ 500,000,000			500,000,000
300 Mission Street [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate		4.50%	3.65%
300 Mission Street [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2026-10
Notes and mortgages payable, Interest Rate	4.50%
Notes and mortgages payable	$ 232,050,000			$ 273,000,000

Debt - Summary of Outstanding_2

Debt - Summary of Outstanding Debt (Parenthetical) (Details)		12 Months Ended
	Sep. 27, 2023	Dec. 31, 2023	Dec. 31, 2022
1633 Broadway [Member]
Debt Instrument [Line Items]
Ownership percentage of Property		90%	90%
One Market Plaza [Member]
Debt Instrument [Line Items]
Ownership percentage of Property		49%	49%
300 Mission Street [Member]
Debt Instrument [Line Items]
Ownership percentage of Property	31.10%	31.10%	31.10%
1301 Avenue of the Americas [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Mortgages and Notes Payable with Variable Rate [Member]
Debt Instrument [Line Items]
Capped interest rate		4.50%	4.50%

Debt - Summary of Principal Rep

Debt - Summary of Principal Repayments Required For Notes and Mortgages Payable and Revolving Credit Facility (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
2024	$ 975,000
2026	1,592,050
Thereafter	1,250,000
Notes and Mortgages Payable [Member]
Debt Instrument [Line Items]
2024	975,000
2026	1,592,050
Thereafter	$ 1,250,000

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jul. 29, 2021
Derivative [Line Items]
Notes and mortgages payable	$ 3,817,050,000	$ 3,858,000,000
Changes in fair value of these interest rate swaps and interest rate caps	5,595,000	39,865,000	$ 6,069,000
1301 Avenue of the Americas [Member]
Derivative [Line Items]
Notes and mortgages payable				$ 860,000,000
Interest Rate Swap [Member] | Secured Overnight Financing Rate (SOFR) [Member] | 1301 Avenue of the Americas [Member]
Derivative [Line Items]
Derivative, notional amount	$ 500,000,000
Derivative fixed interest rate	0.49%
Interest Rate Cap [Member] | London Interbank Offered Rate (LIBOR) [Member] | 1301 Avenue of the Americas [Member]
Derivative [Line Items]
Derivative, notional amount	$ 360,000,000
Derivative fixed interest rate	2%
Interest Rate Cap [Member] | Secured Overnight Financing Rate (SOFR) [Member] | 1301 Avenue of the Americas [Member]
Derivative [Line Items]
Derivative, notional amount	$ 360,000,000
Derivative fixed interest rate	4.50%
Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Changes in fair value of these interest rate swaps and interest rate caps	$ (25,444,000)	$ 31,839,000	$ 6,857,000
Amount to be recognized in accumulated other comprehensive income (loss) reclassified to interest expense for next twelve months	13,008,000
Designated As Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | London Interbank Offered Rate (LIBOR) [Member] | 1301 Avenue of the Americas [Member]
Derivative [Line Items]
Derivative, notional amount	$ 500,000,000
Derivative fixed interest rate	0.46%
Designated As Hedging Instrument [Member] | Interest Rate Cap [Member] | Cash Flow Hedging [Member] | London Interbank Offered Rate (LIBOR) [Member] | 1301 Avenue of the Americas [Member]
Derivative [Line Items]
Derivative, notional amount	$ 360,000,000
Aggregate notional percentage	2%
Designated As Hedging Instrument [Member] | Interest Rate Cap [Member] | Cash Flow Hedging [Member] | Secured Overnight Financing Rate (SOFR) [Member] | 1301 Avenue of the Americas [Member]
Derivative [Line Items]
Aggregate notional percentage	4.50%

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Interest Rate Swaps and Interest Rate Caps (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest Rate Swap [Member]
Derivative [Line Items]
Total interest rate swap and interest rate caps assets designated as cash flow hedges (included in "other assets")	$ 13,726	$ 32,681
Interest Rate Swap [Member] | 1301 Avenue of the Americas [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Derivative [Line Items]
Notional Amount	$ 500,000
Effective Date	Jul. 31, 2021
Maturity Date	Aug. 31, 2024
Strike Rate	0.49%
Total interest rate swap and interest rate caps assets designated as cash flow hedges (included in "other assets")	$ 13,726	32,681
Interest Rate Cap [Member]
Derivative [Line Items]
Total interest rate swap and interest rate caps assets designated as cash flow hedges (included in "other assets")	1,263	6,123
Interest Rate Cap [Member] | 1301 Avenue of the Americas [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Derivative [Line Items]
Notional Amount	$ 360,000
Effective Date	Aug. 31, 2023
Maturity Date	Aug. 31, 2024
Strike Rate	4.50%
Total interest rate swap and interest rate caps assets designated as cash flow hedges (included in "other assets")	$ 1,263
Interest Rate Cap [Member] | 1301 Avenue of the Americas [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Notional Amount	$ 360,000
Effective Date	Jul. 31, 2021
Maturity Date	Aug. 31, 2023
Strike Rate	2%
Total interest rate swap and interest rate caps assets designated as cash flow hedges (included in "other assets")		$ 6,123

Equity - Additional Information

Equity - Additional Information (Details) - USD ($)	12 Months Ended	36 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2023	Nov. 05, 2019
Class Of Stock [Line Items]
Common stock shares authorized amount				$ 200,000,000
Stock repurchased, price per share		$ 7.65
Stock repurchased, value	$ 65,000,000	$ 185,000,000
Stock repurchase amount available for future repurchase			$ 15,000,000
Common Stock [Member]
Class Of Stock [Line Items]
Stock repurchased	10,371,000	24,183,768
Stock repurchased, value	$ 104,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Summary of Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Amount of income related to the cash flow hedges recognized in other comprehensive (loss) income	$ 5,595	$ 39,865	$ 6,069
Amount reclassified from accumulated other comprehensive income (decreasing) increasing interest and debt expense	(31,039)	(8,026)	788
Amount of (loss) income related to unconsolidated joint ventures recognized in other comprehensive (loss) income	(5,055)	18,859	5,562
Amounts reclassified from accumulated other comprehensive income (decreasing) increasing loss from unconsolidated joint ventures	$ (9,529)	$ (374)	$ 4,003

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income - Summary of Changes in Accumulated Other Comprehensive Income by Component (Parenthetical) (Details) - Designated As Hedging Instrument [Member] - Cash Flow Hedging [Member]	Dec. 31, 2023 USD ($)
Interest Rate Swap [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Derivative liability, aggregate notional amount	$ 500,000,000
Interest Rate Swap [Member] | Unconsolidated Joint Ventures [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Derivative liability, aggregate notional amount	402,000,000
Interest Rate Cap [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Derivative liability, aggregate notional amount	$ 360,000,000

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Noncontrolling Interest [Abstract]
Consolidated joint ventures	$ 413,925,000	$ 402,118,000
Noncontrolling interests in consolidated real estate related funds aggregated	110,589,000	173,375,000
Operating partnerships	287,089,000	242,982,000
Redemption value	$ 100,650,000	$ 86,644,000
Common units conversion basis	one-for-one

Variable Interest Entities ("_3

Variable Interest Entities ("VIEs") - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023
Variable Interest Entities [Member] | Paramount Group Operating Partnership [Member]
Variable Interest Entity [Line Items]
Percentage of ownership in operating partnership	91.80%

Variable Interest Entities ("_4

Variable Interest Entities ("VIEs") - Summary of Assets and Liabilities of Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Real estate, net		$ 6,744,797		$ 6,846,224
Cash and cash equivalents and restricted cash		509,599		449,817		$ 529,666	$ 465,324
Real estate related fund investments		775		105,369
Deferred rent receivable		351,209		346,338
Deferred charges, net		108,751		120,685
Intangible assets, net		68,005		90,381
Other assets		68,238		73,660
Total assets		8,006,215	[1]	8,453,254	[1]	$ 8,494,562
Notes and mortgages payable, net		3,803,484		3,840,318
Accounts payable and accrued expenses		114,463		123,176
Intangible liabilities, net		28,003		36,193
Other liabilities		37,017		24,775
Total liabilities	[1]	3,991,327		4,042,488
Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Real estate, net		3,284,532		3,364,482
Cash and cash equivalents and restricted cash		176,354		144,446
Accounts and other receivables		10,005		13,647
Real estate related fund investments		775		105,369
Investments in unconsolidated joint ventures		89,949		77,961
Deferred rent receivable		207,938		197,658
Deferred charges, net		45,190		49,485
Intangible assets, net		38,209		50,553
Other assets		7,374		9,860
Total assets		3,860,326		4,013,461
Notes and mortgages payable, net		2,450,401		2,489,902
Accounts payable and accrued expenses		48,952		61,492
Intangible liabilities, net		17,180		21,936
Other liabilities		5,852		6,051
Total liabilities		$ 2,522,385		$ 2,579,381
[1] Represents the consolidated assets and liabilities of Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). The Operating Partnership is a consolidated variable interest entity (“VIE”), of which we are the sole general partner and own approximately 91.8 % as of December 31, 2023. As of December 31, 2023, the assets and liabilities of the Operating Partnership include $ 3,860,326 and $ 2,522,385 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”) .

Variable Interest Entities ("_5

Variable Interest Entities ("VIEs") - Summary of Investments in Unconsolidated Real Estate Funds and Maximum Risk of Loss from Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Carrying Value of Investments [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate related funds	$ 4,549	$ 3,411
Investment, Type [Extensible Enumeration]	us-gaap:RealEstateInvestmentMember	us-gaap:RealEstateInvestmentMember
Asset Management Fees and Other Receivables [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate related funds	$ 18	$ 21
Investment, Type [Extensible Enumeration]	us-gaap:RealEstateInvestmentMember	us-gaap:RealEstateInvestmentMember
Maximum Risk of Loss [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate related funds	$ 4,567	$ 3,432
Investment, Type [Extensible Enumeration]	us-gaap:RealEstateInvestmentMember	us-gaap:RealEstateInvestmentMember

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Assets Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Real estate related fund investments	$ 775	$ 105,369
Total assets	14,989	144,173
Interest Rate Swap and Cap Assets [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate assets (included in "other assets")	14,989	38,804
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	14,989	38,804
Level 2 [Member] | Interest Rate Swap and Cap Assets [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate assets (included in "other assets")	$ 14,989	38,804
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Real estate related fund investments		105,369
Total assets		$ 105,369

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Changes in Fair Value of Real Estate Related Fund Investments (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance		$ 105,369
Ending balance	$ 105,369	775
Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance		105,369
Ending balance	105,369
Real Estate Related Fund Investments [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	0	105,369
Consolidation of Fund X	104,726
Additional investments		11,897
Proceeds from sale of an investment		(8,769)
Net realized losses		(46,894)
Net unrealized (losses) gains	643	(60,828)
Other, net		(775)
Ending balance	$ 105,369	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Carrying Amounts and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes and mortgages payable	$ 3,817,050	$ 3,858,000
Total liabilities	3,817,050	3,858,000
Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes and mortgages payable	3,517,549	3,566,096
Total liabilities	$ 3,517,549	$ 3,566,096

Leases - Schedule of Rental Rev

Leases - Schedule of Rental Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Abstract]
Fixed rental revenues	$ 635,314	$ 645,950	$ 635,513
Variable rental revenues	76,156	56,869	54,905
Total rental revenue	$ 711,470	$ 702,819	$ 690,418

Leases - Schedule of Future Und

Leases - Schedule of Future Undiscounted Cash Flows Under Non-Cancelable Operating Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 620,031
2025	580,941
2026	503,576
2027	443,031
2028	440,988
Thereafter	1,969,146
Total	$ 4,557,713

Fee and Other Income - Summary

Fee and Other Income - Summary of Fee and Other Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fee income:
Fee income	$ 21,597	$ 28,421	$ 28,473
Other income	9,721	9,137	7,895
Total fee and other income	31,318	37,558	36,368
Asset Management Fees [Member]
Fee income:
Fee income	11,075	12,270	13,284
Property Management Fees [Member]
Fee income:
Fee income	7,278	7,981	8,589
Acquisition, Disposition, Leasing And Other [Member]
Fee income:
Fee income	$ 3,244	$ 8,170	$ 6,600

Fee and Other Income - Summar_2

Fee and Other Income - Summary of Amount Receivable from Customers under Various Fee Agreement (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Disaggregation Of Revenue [Line Items]
Balance as of December 31, 2022	$ 23,866
Balance as of December 31, 2023	18,053
Revenue from Contract with Customers Under Various Fee Agreements [Member]
Disaggregation Of Revenue [Line Items]
Balance as of December 31, 2022	2,611
Balance as of December 31, 2023	2,554
(Decrease) increase	(57)
Revenue from Contract with Customers Under Various Fee Agreements [Member] | Asset Management Fees [Member]
Disaggregation Of Revenue [Line Items]
Balance as of December 31, 2022	2,138
Balance as of December 31, 2023	1,850
(Decrease) increase	(288)
Revenue from Contract with Customers Under Various Fee Agreements [Member] | Property Management Fees [Member]
Disaggregation Of Revenue [Line Items]
Balance as of December 31, 2022	338
Balance as of December 31, 2023	586
(Decrease) increase	248
Revenue from Contract with Customers Under Various Fee Agreements [Member] | Acquisition, Disposition, Leasing And Other [Member]
Disaggregation Of Revenue [Line Items]
Balance as of December 31, 2022	135
Balance as of December 31, 2023	118
(Decrease) increase	$ (17)

Interest and Debt Expense - Det

Interest and Debt Expense - Details of Interest and Debt Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest and Debt Expense [Abstract]
Interest expense	$ 146,771	$ 137,708	$ 132,887
Amortization of deferred financing costs	6,219	6,156	9,127	[1]
Total interest and debt expense	$ 152,990	$ 143,864	$ 142,014
[1] Includes $ 761 of expense from the non-cash write-off of deferred financing costs in connection with the $ 860,000 refinancing of 1301 Avenue of the Americas in July 2021.

Interest and Debt Expense - D_2

Interest and Debt Expense - Details of Interest and Debt Expense (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2021
Extinguishment of Debt [Line Items]
Proceeds from notes and mortgages payable	$ 232,050	$ 888,566
1301 Avenue of the Americas [Member]
Extinguishment of Debt [Line Items]
Expense from non-cash write-off of deferred financing costs		761
Proceeds from notes and mortgages payable		$ 860,000

Incentive Compensation - Additi

Incentive Compensation - Additional Information (Details) - USD ($)			12 Months Ended
	Sep. 08, 2023	Jan. 25, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 20,321,000	$ 19,003,000	$ 18,612,000
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost expected to be recognized over a weighted-average period			2 years
Unrecognized compensation cost			$ 1,421,000
Fair value granted			$ 743,000
Awards granted		81,531
Restricted Stock [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years
Restricted Stock [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			1 year
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted			0	0	0
Stock options outstanding			1,988,993
Weighted average exercise price			$ 17.05
Weighted-average remaining contractual term (in years)			1 year 8 months 12 days
Incentive and Retention Equity Grants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	4 years
Fair value granted	$ 28,863,000
Long Term Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance measurement period, term			3 years
Long Term Incentive Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		4 years
Long Term Incentive Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Long Term Incentive Plan [Member] | Performance Programs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years
Unrecognized compensation cost expected to be recognized over a weighted-average period			2 years 1 month 6 days
Unrecognized compensation cost			$ 8,320,000
Fair value granted			$ 7,067,000
Long Term Incentive Plan [Member] | Time-Based Unit Awards Program [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost expected to be recognized over a weighted-average period			2 years 10 months 24 days
Unrecognized compensation cost			$ 23,352,000
Fair value granted			$ 22,962,000
Long Term Incentive Plan [Member] | Time-Based Unit Awards Program [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			5 years
Long Term Incentive Plan [Member] | Time-Based Unit Awards Program [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
2023 P-LTIPs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		4 years
Fair value of awards granted		$ 7,067,000
Performance measurement period, term		3 years
Performance measurement period, start date		Jan. 01, 2023
Performance measurement period, end date		Dec. 31, 2025
Percentage of payout exceeding units granted		100%
Reduction in percentage on number of LTIP units earned if negative TSR		30%
2023 P-LTIPs [Member] | Share-Based Compensation Award Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of the awards that vest		50%
2023 P-LTIPs [Member] | Share-Based Compensation Award Tranche Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of the awards that vest		50%
2020 P-LTIPs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance measurement period, term				3 years
Percentage of awards earned prior to TSR modification		59.70%
LTIP units, earned		443,713
Percentage of LTIP units earned		41.50%
Reduction in percentage on number of LTIP units earned if negative TSR		30%
Time Based LTIP units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value granted		$ 8,783,000
Awards granted		796,349
Time Based LTIP units [Member] | Share-Based Compensation Award Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of the awards that vest	50%
Time Based LTIP units [Member] | Share-Based Compensation Award Tranche Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of the awards that vest	50%
Time Based LTIP units [Member] | Incentive and Retention Equity Grants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted	4,112,044
Performance based AOLTIP [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of awards granted			$ 11,428,000,000
Unrecognized compensation cost			$ 9,500,000
Unrecognized compensation cost expected to be recognized over a weighted-average period			3 years 7 months 6 days
Expected volatility			34%
Expected life			10 years
Risk free interest rate			4.50%
Expected dividend yield			4.50%
Awards granted			7,518,519
Common units convertible consecutive trading days	20 days
Contractual term of award	10 years
Stock options outstanding			7,518,519
Weighted average exercise price			$ 5.12
Weighted-average remaining contractual term (in years)			9 years 8 months 12 days
Performance based AOLTIP [Member] | Share-Based Compensation Award Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based vesting percentage	20%
Performance based AOLTIP [Member] | Share-Based Compensation Award Tranche Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based vesting percentage	80%
Performance based AOLTIP [Member] | Performance Less Than 25% [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of P- AOLTIP Units Earned	0%
Applicable closing common stock price percentage	25%
Minimum applicable closing stock price of common stock	$ 6.4
Performance based AOLTIP [Member] | Performance Greater Than 25% and Less Than 50% [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Applicable closing stock price of common stock	$ 6.4
Percentage of P- AOLTIP Units Earned	33%
Applicable closing common stock price percentage	25%
Performance based AOLTIP [Member] | Performance Greater Than 50% and Less Than 75% [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Applicable closing stock price of common stock	$ 7.68
Percentage of P- AOLTIP Units Earned	67%
Applicable closing common stock price percentage	50%
Performance based AOLTIP [Member] | Performance Greater than 75% [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Applicable closing stock price of common stock	$ 8.96
Percentage of P- AOLTIP Units Earned	100%
Applicable closing common stock price percentage	75%
Performance based AOLTIP [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years
Performance based AOLTIP [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
Applicable closing stock price of common stock	$ 5.12
Performance based AOLTIP [Member] | Incentive and Retention Equity Grants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted	7,518,519
Equity Incentive Plan [Member] | Full Value Awards [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant						20,892,857
Equity Incentive Plan [Member] | Not Full Value Awards [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant						41,785,714
Time based AOLTIP [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost expected to be recognized over a weighted-average period			2 years 4 months 24 days
Unrecognized compensation cost			$ 4,287,000
Fair value granted			$ 3,752,000
Expected volatility			40%
Expected life			4 years 9 months 18 days
Risk free interest rate			3.60%
Expected dividend yield			3.70%
Awards granted		2,054,270	2,054,270
Stock options outstanding			6,642,144	4,587,874
Weighted average exercise price			$ 7.99	$ 8.80
Weighted-average remaining contractual term (in years)			5 years 1 month 6 days
Time based AOLTIP [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years
Time based AOLTIP [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years

Incentive Compensation - Summar

Incentive Compensation - Summary of LTIP Unit Activity (Details) - Long Term Incentive Plan [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Time-Based Unit Awards Program [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units, Unvested as of December 31, 2022 | shares	1,998,245
Units, Granted | shares	5,153,019
Units, Vested | shares	(676,793)
Units, Unvested as of December 31, 2023 | shares	6,474,471
Weighted-Average Grant-Date Fair Value (per unit/share), Unvested as of December 31, 2022 | $ / shares	$ 9.56
Weighted-Average Grant-Date Fair Value (per unit/share), Granted | $ / shares	4.46
Weighted-Average Grant-Date Fair Value (per unit/share), Vested | $ / shares	9.48
Weighted-Average Grant-Date Fair Value (per unit/share), Unvested as of December 31, 2023 | $ / shares	$ 5.51
Performance Based Award Programs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units, Unvested as of December 31, 2022 | shares	4,307,802
Units, Granted | shares	2,618,748
Units, Vested | shares	(443,713)
Units, Cancelled or expired | shares	(549,140)
Units, Unvested as of December 31, 2023 | shares	5,933,697
Weighted-Average Grant-Date Fair Value (per unit/share), Unvested as of December 31, 2022 | $ / shares	$ 6.49
Weighted-Average Grant-Date Fair Value (per unit/share), Granted | $ / shares	5.40
Weighted-Average Grant-Date Fair Value (per unit/share), Vested | $ / shares	6.99
Weighted-Average Grant-Date Fair Value (per unit/share), Cancelled or expired | $ / shares	6.99
Weighted-Average Grant-Date Fair Value (per unit/share), Unvested as of December 31, 2023 | $ / shares	$ 5.92

Incentive Compensation - Summ_2

Incentive Compensation - Summary of AOLTIP Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 25, 2023	Dec. 31, 2023
Time based AOLTIP [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares, Outstanding as of December 31, 2022		4,587,874
Shares, Granted	2,054,270	2,054,270
Shares, Outstanding at December 31, 2023		6,642,144
Shares, Options vested and expected to vest at December 31, 2023		6,408,998
Shares, Options exercisable at December 31, 2023		3,311,485
Weighted-Average Exercise Price (per unit/share), Outstanding at December 31, 2022		$ 8.80
Weighted-Average Exercise Price (per unit/share), Granted		6.17
Weighted-Average Exercise Price (per unit/share), Outstanding at December 31, 2023		7.99
Weighted-Average Exercise Price (per unit/share), Options vested and expected to vest at December 31, 2023		8
Weighted-Average Exercise Price (per unit/share), Options exercisable at December 31, 2023		$ 8.32
Weighted-Average Remaining Contractual Term (in years), Outstanding at December 31, 2023		5 years 1 month 6 days
Weighted-Average Remaining Contractual Term (in years), Options vested and expected to vest at December 31, 2023		5 years 1 month 6 days
Weighted-Average Remaining Contractual Term (in years), Options exercisable at December 31, 2023		4 years 9 months 18 days
Performance based AOLTIP [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares, Granted		7,518,519
Shares, Outstanding at December 31, 2023		7,518,519
Shares, Options vested and expected to vest at December 31, 2023		6,992,223
Weighted-Average Exercise Price (per unit/share), Granted		$ 5.12
Weighted-Average Exercise Price (per unit/share), Outstanding at December 31, 2023		5.12
Weighted-Average Exercise Price (per unit/share), Options vested and expected to vest at December 31, 2023		$ 5.12
Weighted-Average Remaining Contractual Term (in years), Outstanding at December 31, 2023		9 years 8 months 12 days
Weighted-Average Remaining Contractual Term (in years), Options vested and expected to vest at December 31, 2023		9 years 8 months 12 days
Aggregate Intrinsic Value, Outstanding at December 31, 2023		$ 376,000
Aggregate Intrinsic Value, Options vested and expected to vest at December 31, 2023		$ 350,000

Incentive Compensation - Summ_3

Incentive Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units, Unvested as of December 31, 2022 | shares	269,108
Units, Granted | shares	136,831
Units, Vested | shares	(109,151)
Units, Cancelled or expired | shares	(11,137)
Units, Unvested as of December 31, 2023 | shares	285,651
Weighted-Average Grant-Date Fair Value (per unit/share), Unvested as of December 31, 2022 | $ / shares	$ 9.59
Weighted-Average Grant-Date Fair Value (per unit/share), Granted | $ / shares	5.43
Weighted-Average Grant-Date Fair Value (per unit/share), Vested | $ / shares	9.87
Weighted-Average Grant-Date Fair Value (per unit/share), Cancelled or expired | $ / shares	9.76
Weighted-Average Grant-Date Fair Value (per unit/share), Unvested as of December 31, 2023 | $ / shares	$ 7.49

Earnings Per Share - Summary of

Earnings Per Share - Summary of Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net loss attributable to common stockholders	$ (259,744)	$ (36,403)	$ (20,354)
Earnings allocated to unvested participating securities, basic	(50)	(85)	(70)
Earnings allocated to unvested participating securities, diluted	(50)	(85)	(70)
Numerator for net loss per common share - basic	(259,794)	(36,488)	(20,424)
Numerator for net loss per common share - diluted	$ (259,794)	$ (36,488)	$ (20,424)
Denominator:
Denominator for basic loss per common share - weighted average shares	216,922,235	221,309,938	218,701,249
Denominator for diluted loss per common share - weighted average shares	216,922,235	221,309,938	218,701,249
Loss per common share - basic	$ (1.2)	$ (0.16)	$ (0.09)
Loss per common share - diluted	$ (1.2)	$ (0.16)	$ (0.09)

Earnings Per Share - Summary _2

Earnings Per Share - Summary of Computation of Earnings Per Share (Parenthetical) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Effect of dilutive securities excluded from computation of earning per share	18,749	20,064	23,775

Related Parties - Additional In

Related Parties - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) ft²	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Fee and other income	$ 31,318,000	$ 37,558,000	$ 36,368,000
Accounts and other receivables	18,053,000	23,866,000
Fee income	21,597,000	28,421,000	28,473,000
Transaction related costs	422,000	470,000	916,000
Accounts payable and accrued expenses	$ 114,463,000	123,176,000
Area of leased properties | ft²	13,800,000
Rental revenue	$ 711,470,000	702,819,000	690,418,000
712 Fifth Avenue [Member]
Related Party Transaction [Line Items]
Equity method paramount ownership percentage	50%
CNBB-RDF Holdings Otto Family [Member] | Management Agreements [Member]
Related Party Transaction [Line Items]
Fee and other income	$ 1,042,000	1,322,000	1,726,000
Accounts and other receivables	40,000	52,000
Unconsolidated Joint Ventures and Real Estate Funds [Member] | Management Agreements [Member]
Related Party Transaction [Line Items]
Accounts and other receivables	2,552,000	3,032,000
Fee income	$ 16,567,000	24,315,000	23,240,000
Hamburg Trust Consulting GMBH ("HTC") [Member]
Related Party Transaction [Line Items]
Mark-up cost percentage	10%
Transaction related costs	$ 392,000	713,000	645,000
Accounts payable and accrued expenses	$ 102,000	119,000
Hamburg Trust Consulting GMBH ("HTC") [Member] | Chairman, Chief Executive Officer and President [Member]
Related Party Transaction [Line Items]
Percentage of ownership	100%
Mannheim Trust [Member] | Board of Director [Member] | 712 Fifth Avenue [Member]
Related Party Transaction [Line Items]
Lease rental income	$ 183,000	364,000	362,000
Mannheim Trust [Member] | Board of Director [Member] | 712 Fifth Avenue [Member] | Lease expiring in June 2025 [Member]
Related Party Transaction [Line Items]
Area of leased properties | ft²	3,127
Equity method paramount ownership percentage	50%
Kramer Design Services [Member]
Related Party Transaction [Line Items]
Business development costs incurred	$ 165,000
Kramer Design Services [Member] | Chairman, Chief Executive Officer and President [Member]
Related Party Transaction [Line Items]
Percentage of ownership	100%
ParkProperty Capital, LP [Member] | Board of Director [Member]
Related Party Transaction [Line Items]
Rental revenue	$ 276,000	$ 220,000	$ 212,000
ParkProperty Capital, LP [Member] | Board of Director [Member] | 1633 Broadway [Member]
Related Party Transaction [Line Items]
Area of leased properties | ft²	3,330
ParkProperty Capital, LP [Member] | Board of Director [Member] | 1325 Avenue of the Americas [Member]
Related Party Transaction [Line Items]
Area of leased properties | ft²	4,233
Lease term	5 years

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 ft²	Feb. 16, 2018 USD ($)	Nov. 23, 2014 ft²
Other Commitments [Line Items]
Area of leased properties | ft²	13,800,000
Minimum [Member] | New York State Division Of Taxation And Finance [Member]
Other Commitments [Line Items]
Loss Contingency, Estimate of Possible Loss | $		$ 0
Maximum [Member] | New York State Division Of Taxation And Finance [Member]
Other Commitments [Line Items]
Loss Contingency, Estimate of Possible Loss | $		$ 62,500,000
718 Fifth Avenue [Member]
Other Commitments [Line Items]
Percentage of tenancy-in-common interest in property			50%
Put right notice period	12 months
712 Fifth Avenue [Member]
Other Commitments [Line Items]
Percentage of ownership interest in new joint venture	50%
Owned by Affiliate [Member] | 718 Fifth Avenue [Member] | Third Party Affiliate [Member]
Other Commitments [Line Items]
Percentage of ownership interest in new joint venture			25%
Owned by Affiliate [Member] | Parent Company [Member] | Put Right Exercised [Member] | 718 Fifth Avenue [Member]
Other Commitments [Line Items]
Pre IPO ownership percentage	25%
Owned by Affiliate [Member] | Retail Type Space [Member] | 718 Fifth Avenue [Member]
Other Commitments [Line Items]
Area of leased properties | ft²			19,050

Segments - Additional Informati

Segments - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments - Schedule of NOI for

Segments - Schedule of NOI for Each Reportable Segment Information (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Property-related revenues		$ 721,191	$ 711,956	$ 698,313
Property-related operating expenses		(293,965)	(277,422)	(265,438)
NOI from unconsolidated joint ventures (excluding One Steuart Lane)		37,360	45,141	43,597
NOI	[1]	464,586	479,675	476,472
New York [Member]
Segment Reporting Information [Line Items]
Property-related revenues		460,715	468,409	443,384
Property-related operating expenses		(204,301)	(199,085)	(191,793)
NOI from unconsolidated joint ventures (excluding One Steuart Lane)		12,880	13,257	11,303
NOI	[1]	269,294	282,581	262,894
San Francisco [Member]
Segment Reporting Information [Line Items]
Property-related revenues		261,954	245,560	258,188
Property-related operating expenses		(87,478)	(74,396)	(69,976)
NOI from unconsolidated joint ventures (excluding One Steuart Lane)		24,347	31,596	32,221
NOI	[1]	198,823	202,760	220,433
Other [Member]
Segment Reporting Information [Line Items]
Property-related revenues		(1,478)	(2,013)	(3,259)
Property-related operating expenses		(2,186)	(3,941)	(3,669)
NOI from unconsolidated joint ventures (excluding One Steuart Lane)		133	288	73
NOI	[1]	$ (3,531)	$ (5,666)	$ (6,855)
[1] NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies.

Segments - Schedule of Reconcil

Segments - Schedule of Reconciliation of NOI to Net Loss Income Attributable to Common Stockholders (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting [Abstract]
NOI	[1]	$ 464,586	$ 479,675	$ 476,472
Fee income		21,597	28,421	28,473
Depreciation and amortization expense		(250,644)	(232,517)	(232,487)
General and administrative expenses		(61,986)	(59,487)	(59,132)
Loss from real estate related fund investments		(96,375)	(2,233)	0
NOI from unconsolidated joint ventures (excluding One Steuart Lane)		(37,360)	(45,141)	(43,597)
Loss from unconsolidated joint ventures		(270,298)	(53,251)	(24,896)
Interest and other (loss) income, net		14,837	5,174	3,017
Interest and debt expense		(152,990)	(143,864)	(142,014)
Other, net		(1,244)	(1,709)	(134)
(Loss) income before income taxes		(369,877)	(24,932)	5,702
Income tax expense		(1,426)	(3,265)	(3,643)
Net (loss) income		(371,303)	(28,197)	2,059
Consolidated joint ventures		(20,464)	(13,981)	(21,538)
Consolidated real estate related funds		109,795	3,342	(2,893)
Operating Partnership		22,228	2,433	2,018
Net loss attributable to common stockholders		$ (259,744)	$ (36,403)	$ (20,354)
[1] NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies.

Segments - Schedule of Total As

Segments - Schedule of Total Assets for Each Reportable Segments Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Segment Reporting Information [Line Items]
Total assets	$ 8,006,215	[1]	$ 8,453,254	[1]	$ 8,494,562
New York [Member]
Segment Reporting Information [Line Items]
Total assets	5,214,504		5,311,636		5,336,210
San Francisco [Member]
Segment Reporting Information [Line Items]
Total assets	2,342,395		2,631,265		2,696,131
Other [Member]
Segment Reporting Information [Line Items]
Total assets	$ 449,316		$ 510,353		$ 462,221
[1] Represents the consolidated assets and liabilities of Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). The Operating Partnership is a consolidated variable interest entity (“VIE”), of which we are the sole general partner and own approximately 91.8 % as of December 31, 2023. As of December 31, 2023, the assets and liabilities of the Operating Partnership include $ 3,860,326 and $ 2,522,385 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”) .

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) ft² in Millions		12 Months Ended
	Feb. 01, 2024 USD ($)	Dec. 31, 2023 USD ($) ft²	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Subsequent Event [Line Items]
Loan outstanding		$ 3,817,050,000	$ 3,858,000,000
Fixed interest rate		3.88%
Loan repayment amount		$ 273,000,000		$ 850,000,000
One Market Plaza [Member]
Subsequent Event [Line Items]
Number of square foot | ft²		1.6
Loan outstanding		$ 975,000,000
Fixed interest rate		4.03%
Maturity date		Feb. 06, 2024
Ownership percentage of Property		49%	49%
One Market Plaza [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Loan outstanding	$ 850,000,000
Fixed interest rate	4.08%
Loan repayment amount	$ 125,000,000
Loan repayment share amount	$ 61,250,000
Ownership percentage of Property	49%
Loan maturity, month and year	2027-02

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 3,817,050
Initial cost to company, Land	1,966,237
Initial cost to company, Building and Improvements	5,430,368
Costs capitalized subsequent to acquisition, Building and Improvements	820,011
Gross amount at which carried at close of period, Land	1,966,237
Gross amount at which carried at close of period, Buildings and Improvements	6,250,379
Gross amount at which carried at close of period, Total	8,216,616	$ 8,143,777	$ 8,028,061
Accumulated depreciation and amortization	(1,471,819)	(1,297,553)	(1,112,977)
Costs capitalized subsequent to acquisition, Building and Improvements, other	42,077
Gross amount at which carried at close of period, Buildings and Improvements, other	42,077
Gross amount at which carried at close of period, other	42,077
Accumulated depreciation and amortization, other	$ (11,252)
Date acquired, other	Nov. 30, 2014
Real Estate:
Beginning balance	$ 8,143,777	8,028,061	7,963,315
Buildings and improvements	107,156	127,102	111,340
Assets sold and written-off	(34,317)	(11,386)	(46,594)
Ending balance	8,216,616	8,143,777	8,028,061
Accumulated Depreciation:
Beginning balance	1,297,553	1,112,977	966,697
Additions charged to expense	208,583	195,962	192,874
Accumulated depreciation related to assets sold and written-off	(34,317)	(11,386)	(46,594)
Ending balance	$ 1,471,819	$ 1,297,553	$ 1,112,977
Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed, other	5 years
Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed, other	40 years
1633 Broadway [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 1,250,000
Initial cost to company, Land	502,846
Initial cost to company, Building and Improvements	1,398,341
Costs capitalized subsequent to acquisition, Building and Improvements	174,719
Gross amount at which carried at close of period, Land	502,846
Gross amount at which carried at close of period, Buildings and Improvements	1,573,060
Gross amount at which carried at close of period, Total	2,075,906
Accumulated depreciation and amortization	$ (400,865)
Date of construction	Dec. 31, 1971
Date of renovation	2015
Date acquired	Nov. 30, 2014
Real Estate:
Ending balance	$ 2,075,906
Accumulated Depreciation:
Ending balance	$ 400,865
1633 Broadway [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
1633 Broadway [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
1301 Avenue of the Americas [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 860,000
Initial cost to company, Land	406,039
Initial cost to company, Building and Improvements	1,051,697
Costs capitalized subsequent to acquisition, Building and Improvements	211,701
Gross amount at which carried at close of period, Land	406,039
Gross amount at which carried at close of period, Buildings and Improvements	1,263,398
Gross amount at which carried at close of period, Total	1,669,437
Accumulated depreciation and amortization	$ (286,525)
Date of construction	Dec. 31, 1963
Date of renovation	2023
Date acquired	Nov. 30, 2014
Real Estate:
Ending balance	$ 1,669,437
Accumulated Depreciation:
Ending balance	$ 286,525
1301 Avenue of the Americas [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
1301 Avenue of the Americas [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
31 West 52nd Street [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 500,000
Initial cost to company, Land	221,318
Initial cost to company, Building and Improvements	604,994
Costs capitalized subsequent to acquisition, Building and Improvements	85,288
Gross amount at which carried at close of period, Land	221,318
Gross amount at which carried at close of period, Buildings and Improvements	690,282
Gross amount at which carried at close of period, Total	911,600
Accumulated depreciation and amortization	$ (164,290)
Date of construction	Dec. 31, 1987
Date of renovation	2019
Date acquired	Nov. 30, 2014
Real Estate:
Ending balance	$ 911,600
Accumulated Depreciation:
Ending balance	$ 164,290
31 West 52nd Street [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
31 West 52nd Street [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
1325 Avenue of the Americas [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost to company, Land	$ 174,688
Initial cost to company, Building and Improvements	370,553
Costs capitalized subsequent to acquisition, Building and Improvements	65,007
Gross amount at which carried at close of period, Land	174,688
Gross amount at which carried at close of period, Buildings and Improvements	435,560
Gross amount at which carried at close of period, Total	610,248
Accumulated depreciation and amortization	$ (106,174)
Date of construction	Dec. 31, 1989
Date of renovation	2019
Date acquired	Nov. 30, 2014
Real Estate:
Ending balance	$ 610,248
Accumulated Depreciation:
Ending balance	$ 106,174
1325 Avenue of the Americas [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
1325 Avenue of the Americas [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
900 Third Avenue [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost to company, Land	$ 103,741
Initial cost to company, Building and Improvements	296,031
Costs capitalized subsequent to acquisition, Building and Improvements	31,657
Gross amount at which carried at close of period, Land	103,741
Gross amount at which carried at close of period, Buildings and Improvements	327,688
Gross amount at which carried at close of period, Total	431,429
Accumulated depreciation and amortization	$ (77,731)
Date of construction	Dec. 31, 1983
Date of renovation	2023
Date acquired	Nov. 30, 2014
Real Estate:
Ending balance	$ 431,429
Accumulated Depreciation:
Ending balance	$ 77,731
900 Third Avenue [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
900 Third Avenue [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
New York [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 2,610,000
Initial cost to company, Land	1,408,632
Initial cost to company, Building and Improvements	3,721,616
Costs capitalized subsequent to acquisition, Building and Improvements	568,372
Gross amount at which carried at close of period, Land	1,408,632
Gross amount at which carried at close of period, Buildings and Improvements	4,289,988
Gross amount at which carried at close of period, Total	5,698,620
Accumulated depreciation and amortization	(1,035,585)
Real Estate:
Ending balance	5,698,620
Accumulated Depreciation:
Ending balance	1,035,585
One Market Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	975,000
Initial cost to company, Land	288,743
Initial cost to company, Building and Improvements	988,014
Costs capitalized subsequent to acquisition, Building and Improvements	135,385
Gross amount at which carried at close of period, Land	288,743
Gross amount at which carried at close of period, Buildings and Improvements	1,123,399
Gross amount at which carried at close of period, Total	1,412,142
Accumulated depreciation and amortization	$ (273,645)
Date of construction	Dec. 31, 1976
Date of renovation	2016
Date acquired	Nov. 30, 2014
Real Estate:
Ending balance	$ 1,412,142
Accumulated Depreciation:
Ending balance	$ 273,645
One Market Plaza [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
One Market Plaza [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
300 Mission Street [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 232,050
Initial cost to company, Land	141,097
Initial cost to company, Building and Improvements	343,819
Costs capitalized subsequent to acquisition, Building and Improvements	54,048
Gross amount at which carried at close of period, Land	141,097
Gross amount at which carried at close of period, Buildings and Improvements	397,867
Gross amount at which carried at close of period, Total	538,964
Accumulated depreciation and amortization	$ (73,036)
Date of construction	Dec. 31, 1968
Date of renovation	2020
Date acquired	Jul. 31, 2017
Real Estate:
Ending balance	$ 538,964
Accumulated Depreciation:
Ending balance	$ 73,036
300 Mission Street [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
300 Mission Street [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
One Front Street [Member]
Real Estate And Accumulated Depreciation [Line Items]
Initial cost to company, Land	$ 127,765
Initial cost to company, Building and Improvements	376,919
Costs capitalized subsequent to acquisition, Building and Improvements	20,129
Gross amount at which carried at close of period, Land	127,765
Gross amount at which carried at close of period, Buildings and Improvements	397,048
Gross amount at which carried at close of period, Total	524,813
Accumulated depreciation and amortization	$ (78,301)
Date of construction	Dec. 31, 1979
Date acquired	Dec. 31, 2016
Real Estate:
Ending balance	$ 524,813
Accumulated Depreciation:
Ending balance	$ 78,301
One Front Street [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
One Front Street [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
San Francisco [Member]
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 1,207,050
Initial cost to company, Land	557,605
Initial cost to company, Building and Improvements	1,708,752
Costs capitalized subsequent to acquisition, Building and Improvements	209,562
Gross amount at which carried at close of period, Land	557,605
Gross amount at which carried at close of period, Buildings and Improvements	1,918,314
Gross amount at which carried at close of period, Total	2,475,919
Accumulated depreciation and amortization	(424,982)
Real Estate:
Ending balance	2,475,919
Accumulated Depreciation:
Ending balance	$ 424,982

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation (Parenthetical) (Details) $ in Billions	Dec. 31, 2023 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Assets and liabilities for tax purposes	$ 2.3