Paramount (PGRE) 10-Q 2 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	PGRE
Entity Registrant Name	PARAMOUNT GROUP, INC.
Entity Central Index Key	1,605,607
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		221,111,773

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Rental property, at cost
Land		$ 2,042,071	$ 2,042,071
Buildings and improvements		5,691,354	5,610,046
Rental property, at cost		7,733,425	7,652,117
Accumulated depreciation and amortization		(363,104)	(243,089)
Rental property, net		7,370,321	7,409,028
Cash and cash equivalents		83,281	143,884
Restricted cash		30,304	41,823
Real estate fund investments			416,438
Investments in unconsolidated real estate funds		25,521
Investments in unconsolidated joint ventures		6,550	7,102
Preferred equity investments		54,807	53,941
Marketable securities		22,011	21,521
Deferred rent receivable		150,539	77,792
Accounts and other receivables, net of allowance of $202 and $365		12,185	10,844
Deferred charges, net of accumulated amortization of $19,518 and $14,204		81,672	74,991
Intangible assets, net of accumulated amortization of $160,956 and $143,987		406,186	511,207
Other assets		96,671	6,658
Total assets	[1]	8,340,048	8,775,229
LIABILITIES AND EQUITY
Notes and mortgages payable, net of deferred financing costs of $22,552 and $18,914		3,016,597	2,922,610
Revolving credit facility		50,000	20,000
Due to affiliates		27,299	27,299
Loans payable to noncontrolling interests			45,662
Accounts payable and accrued expenses		85,947	102,730
Dividends and distributions payable		25,151	25,067
Deferred income taxes		246	2,533
Interest rate swap liabilities		82,046	93,936
Intangible liabilities, net of accumulated amortization of $55,219 and $41,931		144,197	179,741
Other liabilities		46,275	45,101
Total liabilities	[1]	3,477,758	3,464,679
Commitments and contingencies
Paramount Group, Inc. equity:
Common stock $0.01 par value per share; authorized 900,000,000 shares; issued and outstanding 219,611,535 and 212,112,137 shares in 2016 and 2015, respectively		2,196	2,122
Additional paid-in-capital		3,930,549	3,802,858
Earnings less than distributions		(101,327)	(36,120)
Accumulated other comprehensive loss		(35,092)	(7,843)
Paramount Group, Inc. equity		3,796,326	3,761,017
Noncontrolling interests in:
Consolidated real estate funds		62,790	414,637
Consolidated joint ventures		244,234	236,849
Operating Partnership (44,916,828 and 51,660,088 units outstanding)		758,940	898,047
Total equity		4,862,290	5,310,550
Total liabilities and equity		$ 8,340,048	$ 8,775,229
[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 83.0%. As of September 30, 2016, the assets and liabilities of the Operating Partnership include $1,499,909 and $976,505 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities.

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parentheticals) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Dec. 31, 2015
Accounts and other receivables, allowance		$ 202	$ 365
Deferred charges, accumulated amortization		19,518	14,204
Intangible assets, accumulated amortization		160,956	143,987
Notes and mortgages payable, deferred financing costs		22,552	18,914
Intangible liabilities, accumulated amortization		$ 55,219	$ 41,931
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized		900,000,000	900,000,000
Common stock, shares issued		219,611,535	212,112,137
Common stock, shares outstanding		219,611,535	212,112,137
Operating partnership, units outstanding		44,916,828	51,660,088
Percentage of ownership in operating partnership		83.00%
Total assets	[1]	$ 8,340,048	$ 8,775,229
Total liabilities	[1]	$ 3,477,758	3,464,679
Variable Interest Entities [Member]
Percentage of ownership in operating partnership		83.00%
Total assets		$ 1,499,909	72,033
Total liabilities		$ 976,505	$ 45,857
[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 83.0%. As of September 30, 2016, the assets and liabilities of the Operating Partnership include $1,499,909 and $976,505 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities.

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
REVENUES:
Rental income	$ 149,019	$ 146,470	$ 445,452	$ 435,630
Tenant reimbursement income	11,978	14,405	33,101	39,956
Fee and other income	10,321	6,851	37,986	16,294
Total revenues	171,318	167,726	516,539	491,880
EXPENSES:
Operating	64,025	63,354	186,964	183,019
Depreciation and amortization	66,376	70,654	208,475	223,658
General and administrative	13,235	6,666	39,335	28,412
Acquisition and transaction related costs	282	485	1,725	9,832
Total expenses	143,918	141,159	436,499	444,921
Operating income	27,400	26,567	80,040	46,959
Income from real estate fund investments		10,933		30,226
Loss from unconsolidated real estate funds	(1,254)		(2,540)
Income from unconsolidated joint ventures	1,792	1,458	5,291	4,444
Interest and other income (loss), net	2,299	(1,763)	5,029	(397)
Interest and debt expense	(38,278)	(42,821)	(113,406)	(126,945)
Unrealized gain on interest rate swaps	12,728	15,772	29,661	49,497
Net income before income taxes	4,687	10,146	4,075	3,784
Income tax (expense) benefit	(218)	(789)	817	(2,706)
Net income	4,469	9,357	4,892	1,078
Less net (income) loss attributable to noncontrolling interests in:
Consolidated real estate funds	67	(7,936)	819	(16,677)
Consolidated joint ventures	(4,703)	(33)	(10,062)	(964)
Operating Partnership	28	(272)	906	3,239
Net (loss) income attributable to common stockholders	$ (139)	$ 1,116	$ (3,445)	$ (13,324)
(LOSS) INCOME PER COMMON SHARE - BASIC:
(Loss) income per common share	$ 0	$ 0.01	$ (0.02)	$ (0.06)
Weighted average shares outstanding	219,394,245	212,106,718	216,317,746	212,106,718
(LOSS) INCOME PER COMMON SHARE - DILUTED:
(Loss) income per common share	$ 0	$ 0.01	$ (0.02)	$ (0.06)
Weighted average shares outstanding	219,394,245	212,108,079	216,317,746	212,106,718
DIVIDENDS PER COMMON SHARE	$ 0.095	$ 0.095	$ 0.285	$ 0.324	[1]
[1]	Includes the $0.039 cash dividend for the 38 day period following the completion of our initial public offering and related formation transactions and ending on December 31, 2014.

CONSOLIDATED STATEMENTS OF INC5

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (Parentheticals)	1 Months Ended
	Dec. 31, 2014$ / shares
Income Statement [Abstract]
Cash dividend	$ 0.039

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 4,469	$ 9,357	$ 4,892	$ 1,078
Other comprehensive income (loss):
Change in value of interest rate swaps	7,802	(18,602)	(33,812)	(18,602)
Pro rata share of other comprehensive (loss) income of unconsolidated joint ventures	(82)	78	(19)	(535)
Comprehensive income (loss)	12,189	(9,167)	(28,939)	(18,059)
Less comprehensive (income) loss attributable to noncontrolling interests in:
Consolidated real estate funds	67	(7,936)	819	(16,677)
Consolidated joint ventures	(4,703)	(33)	(10,062)	(964)
Operating Partnership	(1,286)	3,356	7,488	6,987
Comprehensive income (loss) attributable to common stockholders	$ 6,267	$ (13,780)	$ (30,694)	$ (28,713)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid in Capital [Member]	Earnings (Less than) In Excess of Distributions [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interest [Member]Consolidated Real Estate Funds [Member]	Noncontrolling Interest [Member]Consolidated Joint Ventures [Member]	Noncontrolling Interest [Member]Operating Partnership [Member]
Beginning balance at Dec. 31, 2014	$ 5,554,953	$ 2,122	$ 3,851,432	$ 57,308		$ 338,070	$ 347,818	$ 958,203
Common stock, shares outstanding at Dec. 31, 2014		212,107,000
Net income (loss)	1,078			(13,324)		16,677	964	(3,239)
Common shares issued under Omnibus share plan		5,000
Common units issued under Omnibus share plan			(2,131)					2,131
Dividends and distributions	(85,462)			(68,724)				(16,738)
Contributions from noncontrolling interests	133,111					130,586	2,525
Distributions to noncontrolling interests	(54,975)					(54,259)	(716)
Change in value of interest rate swaps	(18,602)				$ (14,959)			(3,643)
Pro rata share of other comprehensive loss of unconsolidated joint ventures	(535)				(430)			(105)
Adjustments to noncontrolling interests			43,981					(43,981)
Amortization of equity awards	6,224		1,172					5,052
Other	(926)		(470)	(134)		(327)	5
Ending balance at Sep. 30, 2015	5,534,866	$ 2,122	3,893,984	(24,874)	(15,389)	430,747	350,596	897,680
Common stock, shares outstanding at Sep. 30, 2015		212,112,000
Beginning balance at Dec. 31, 2015	$ 5,310,550	$ 2,122	3,802,858	(36,120)	(7,843)	414,637	236,849	898,047
Common stock, shares outstanding at Dec. 31, 2015	212,112,137	212,112,000
Deconsolidation of real estate fundinvestments upon adoption of ASU 2015-02 at Dec. 31, 2015	$ (351,035)					(351,035)
Beginning balance, after adjustment at Dec. 31, 2015	4,959,515	$ 2,122	3,802,858	(36,120)	(7,843)	63,602	236,849	898,047
Net income (loss)	4,892			(3,445)		(819)	10,062	(906)
Common shares issued upon redemption of common units		$ 74	126,068					(126,142)
Common shares issued upon redemption of common units		7,403,000
Common shares issued under Omnibus share plan		97,000
Dividends and distributions	(75,449)			(61,953)				(13,496)
Distributions to noncontrolling interests	(2,692)						(2,692)
Change in value of interest rate swaps	(33,812)				(27,231)			(6,581)
Pro rata share of other comprehensive loss of unconsolidated joint ventures	(19)				(18)			(1)
Amortization of equity awards	9,624		1,605					8,019
Other	231		18	191		7	15
Ending balance at Sep. 30, 2016	$ 4,862,290	$ 2,196	$ 3,930,549	$ (101,327)	$ (35,092)	$ 62,790	$ 244,234	$ 758,940
Common stock, shares outstanding at Sep. 30, 2016	219,611,535	219,612,000

CONSOLIDATED STATEMENTS OF CHA8

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement Of Stockholders Equity [Abstract]
Dividends and distributions, Per share and unit	$ 0.095	$ 0.095	$ 0.285	$ 0.324	[1]
[1]	Includes the $0.039 cash dividend for the 38 day period following the completion of our initial public offering and related formation transactions and ending on December 31, 2014.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 4,892	$ 1,078
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	208,475	223,658
Amortization of deferred financing costs	4,121	1,754
Straight-lining of rental income	(67,843)	(49,859)
Amortization of above and below-market leases, net	(6,593)	(3,239)
Unrealized gain on interest rate swaps	(29,661)	(49,497)
Realized and unrealized (gains) losses on marketable securities	(341)	1,087
Realized and unrealized gains, net, on real estate fund investments		(15,363)
Loss from unconsolidated real estate funds	2,540
Distributions of cumulative earnings from unconsolidated real estate funds	148
Income from unconsolidated joint ventures	(5,291)	(4,444)
Distributions of cumulative earnings from unconsolidated joint ventures	5,790	3,102
Amortization of stock-based compensation expense	8,766	6,224
Other non-cash adjustments	1,981	5,100
Changes in operating assets and liabilities:
Restricted cash		(11,290)
Real estate fund investments		2,357
Accounts and other receivables	(1,455)	(4,621)
Deferred charges	(11,266)	(18,754)
Other assets	(39,338)	(21,441)
Accounts payable and accrued expenses	(3,335)	(8,343)
Deferred income taxes	(2,979)	(301)
Other liabilities	1,343	1,008
Net cash provided by operating activities	69,954	58,216
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to rental properties	(107,445)	(68,484)
Deposit on rental property	(50,000)
Changes in restricted cash	11,380	(26,971)
Contributions to unconsolidated real estate funds	(1,084)
Distributions of capital from unconsolidated real estate funds	160
Distributions of capital from unconsolidated joint ventures	34	19
Net cash used in investing activities	(146,955)	(95,436)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes and mortgages payable	509,578
Repayments of notes and mortgages payable	(414,564)	(1,024)
Proceeds from revolving credit facility	110,000
Repayments of revolving credit facility	(80,000)
Dividends paid to common stockholders	(61,241)	(48,574)
Settlement of swap liabilities	(16,040)
Distributions paid to unitholders	(14,124)	(11,822)
Debt issuance costs	(6,532)
Distributions to noncontrolling interests	(2,692)	(54,975)
Contributions from noncontrolling interests		133,111
Net cash provided by financing activities	24,385	16,716
Net decrease in cash and cash equivalents	(52,616)	(20,504)
Cash and cash equivalents at beginning of period	143,884	438,599
Decrease in cash due to deconsolidation of real estate fund investments	(7,987)
Cash and cash equivalents at end of period	83,281	418,095
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash payments for interest	106,015	119,278
Cash payments for income taxes, net of refunds	1,524	1,968
(Decrease) increase due to deconsolidation of real estate fund investments:
Real estate fund investments	(416,438)
Loans payable to noncontrolling interests	(45,662)
Investments in unconsolidated real estate funds	27,292
Noncontrolling interests in consolidated real estate funds	(351,035)
Dividends and distributions declared but not yet paid	25,151	25,066
Change in fair value of interest rate swaps	33,812	18,602
Common shares issued upon redemption of common units	126,142
Additions to real estate included in accounts payable and accrued expenses	6,609	12,028
Purchases of marketable securities using restricted cash	139	1,293
Write-off of fully amortized and/or depreciated assets	$ 8,475	$ 889

Organization and Business

Organization and Business	9 Months Ended
	Sep. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization And Business	1. Organization 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 (the “Operating Partnership”), a Delaware limited 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, Washington, D.C. 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 83.0% of, the Operating Partnership as of September 30, 2016. As of September 30, 2016, our portfolio consisted of 12 Class A office properties aggregating approximately 10.4 million square feet.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
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 include the accounts of Paramount and its consolidated subsidiaries, including the Operating Partnership. All significant inter-company amounts have been eliminated. In our opinion, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. These condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the SEC. We have made 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 from those estimates. The results of operations for the three and nine months ended September 30, 2016, are not necessarily indicative of the operating results for the full year. Significant Accounting Policies There were no material changes to our significant accounting policies disclosed in our Annual Report on Form 10-K for the year ended December 31, 2015. Segment Reporting Our determination of segments is primarily based on our method of internal reporting. On January 1, 2016, as a result of certain organizational and operational changes, we redefined our reportable segments to be 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. Accordingly, our reportable segments were separated by region based on the three regions in which we conduct our business: New York, Washington, D.C. and San Francisco. In connection therewith, we have reclassified the prior period segment financial data to conform to the current period presentation. Recently Issued Accounting Literature In May 2014, the Financial Accounting Standard’s Board (“FASB”) issued an Accounting Standards Update (“ASU”) (“ASU 2014-09”) to Accounting Standard Codification (“ASC”) Topic 606, Revenue from Contracts with Customers. In June 2014, the FASB issued an update (“ASU 2014-12”) Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period Compensation – Stock Compensation In February 2015, the FASB issued an update (“ASU 2015-02”) Amendments to the Consolidation Analysis Consolidation. Real Estate Fund Investments. In April 2015, the FASB issued an update (“ASU 2015-03”) Simplifying the Presentation of Debt Issuance Costs Interest – Imputation of Interest. ”) Interest – Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at 18 June 2015 EITF Meetin g . ASU 2015-15 clarifies the exclusion of line-of-credit arrangements from the scope of ASU 2015-03. Therefore, debt issuance costs related to line-of-credit arrangements can be deferred and presented as an asset that is subsequently amortized over the time of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We adopted the provisions of ASU 2015-03 on January 1, 2016, and have retrospectively reclassified $18,914,000 of deferred financing costs that were included in “deferred charges, net” as of December 31, 2015, to “notes and mortgages payable, net”. The deferred financing costs related to our $1.0 billion revolving credit facility continue to be reported as an asset on our consolidated balance sheets. In September 2015, the FASB issued an update (“ASU 2015-16”) Simplifying the Accounting for Measurement-Period Adjustments Business Combinations. In February 2016, the FASB issued an update (“ASU 2016-02”) Leases Leases. is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2018, with early adoption permitted. the adoption of ASU 2016-02 on our consolidated financial statements. In March 2016, the FASB issued an update (“ASU 2016-09”) Improvements to Employee Share-Based Payment Accounting Compensation – Stock Compensation. In June 2016, the FASB issued an update (“ASU 2016-13”) Measurement of Credit Losses on Financial Instruments , Financial Instruments – Credit Losses. In August 2016, the FASB issued an update (“ASU 2016-15”) Classification of Certain Cash Receipts and Cash Payments Statement of Cash Flows

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisitions	3. Acquisitions One Front Street On September 12, 2016, we entered into an agreement to acquire One Front Street, a 651,000 square foot Class A office building, in San Francisco, California for $521,000,000. In connection therewith, we made a $50,000,000 non-refundable deposit, which is included in “other assets” on our consolidated balance sheet. The transaction, which is subject to customary closing conditions, is expected to close by the end of the fourth quarter of 2016.

Real Estate Fund Investments

Real Estate Fund Investments	9 Months Ended
	Sep. 30, 2016
Real Estate Fund [Abstract]
Real Estate Fund Investments	4 . Real Estate Fund Investments On January 1, 2016, we adopted ASU 2015-02 Amendments to the Consolidation Analysis . Basis of Presentation and Significant Accounting Policies – Recently Issued Accounting Literature Unconsolidated Real Estate Funds The following tables summarize our investments in unconsolidated real estate funds as of September 30, 2016, and income or loss recognized from these investments for the three and nine months ended September 30, 2016. (Amounts in thousands) As of September 30, 2016 Our Share of Investments: Property funds (1) $ 20,813 Alternative investment fund (2) 4,708 Investments in unconsolidated real estate funds $ 25,521 (1) Represents our investments in Paramount Group Real Estate Fund II, L.P. (“Fund II”), Paramount Group Real Estate Fund III, L.P. (“Fund III”), and Paramount Group Real Estate Fund VII, L.P. (“Fund VII”) and Paramount Group Real Estate Fund VII-H, L.P. (“Fund VII-H”). (2) Represents our investment in Paramount Group Real Estate Fund VIII, L.P. (“Fund VIII”). For the Three Months Ended For the Nine Months Ended (Amounts in thousands) September 30, 2016 September 30, 2016 Our Share of Net Loss: Net investment income (loss) $ 170 $ (437 ) Net unrealized losses (361 ) (2,939 ) Carried interest (1,063 ) 836 Loss from unconsolidated real estate funds (1) $ (1,254 ) $ (2,540 ) (1) Excludes asset management and other fee income from real estate funds, which is included as a component of “fee and other income” in our consolidated statements of income for the three and nine months ended September 30, 2016. As of September 30, 2016, we own a 10.0% interest in Fund II, a 3.1% interest in Fund III, and a 7.5% interest in Fund VII, which are accounted for under the equity method. The following tables provide summarized financial information for Fund II, Fund III and Fund VII as of the dates and for the periods set forth below. (Amounts in thousands) As of September 30, 2016 Balance Sheets: Fund II Fund III Fund VII Real estate investments $ 34,977 $ 26,424 $ 160,362 Cash and cash equivalents 604 1,185 852 Other assets 127 - - Total assets $ 35,708 $ 27,609 $ 161,214 Other liabilities $ 113 $ 80 $ 1,106 Total liabilities 113 80 1,106 Equity 35,595 27,529 160,108 Total liabilities and equity $ 35,708 $ 27,609 $ 161,214 (Amounts in thousands) For the Three Months Ended September 30, 2016 For the Nine Months Ended September 30, 2016 Income Statements: Fund II Fund III Fund VII Fund II Fund III Fund VII Investment income $ 1,389 $ 480 $ 1,233 $ 1,391 $ 480 $ 1,233 Investment expenses 668 55 501 2,051 193 1,512 Net investment income (loss) 721 425 732 (660 ) 287 (279 ) Net unrealized (losses) gains (40 ) 177 (4,815 ) (31,918 ) (10,551 ) 7,929 Income (loss) from real estate fund investments $ 681 $ 602 $ (4,083 ) $ (32,578 ) $ (10,264 ) $ 7,650 Consolidated Real Estate Funds Below is a summary of the fair value of our Property Funds and the Alternative Investment Fund that were consolidated on our balance sheet as of December 31, 2015 and income from fund investments for the three and nine months ended September 30, 2015. (Amounts in thousands) As of December 31, 2015 Real estate fund investments (1) $ 416,438 Cash and other assets, net 7,050 Total real estate fund investments 423,488 Less: noncontrolling interests in consolidated real estate funds (396,196 ) Paramount Group, Inc.'s equity in real estate fund investments $ 27,292 (1) Represents the fair value of investments owned by Fund II, Fund III, Fund VII, Fund VII-H and Fund VIII. For the For the Three Months Ended Nine Months Ended (Amounts in thousands) September 30, 2015 September 30, 2015 Net investment income $ 3,206 $ 10,363 Net realized gains 11,955 11,955 Previously recorded unrealized gains on exited investments (6,790 ) (6,058 ) Net unrealized gains 2,562 13,966 Income from real estate fund investments 10,933 30,226 Less: noncontrolling interests in consolidated real estate funds (1) (8,763 ) (19,283 ) Income from real estate fund investments attributable to Paramount Group, Inc. $ 2,170 $ 10,943 (1) Includes $1,372 and $3,985 of asset management fee income that was reflected as a reduction of the amounts attributable to noncontrolling interests for the three and nine months ended September 30, 2015, respectively.

Preferred Equity Investments

Preferred Equity Investments	9 Months Ended
	Sep. 30, 2016
Schedule Of Investments [Abstract]
Preferred Equity Investments	5. Preferred Equity Investments As of September 30, 2016, we own a 24.4% interest in PGRESS Equity Holdings L.P., an entity that owns certain preferred equity investments. The following is a summary of the preferred equity investments. (Amounts in thousands, except square feet) Paramount As of Preferred Equity Investment Ownership Dividend Rate Initial Maturity September 30, 2016 December 31, 2015 470 Vanderbilt Avenue (1) 24.4% 10.3% Feb-2019 $ 35,566 $ 35,305 2 Herald Square (2) 24.4% 10.3% Apr-2017 19,241 18,636 Total preferred equity investments $ 54,807 $ 53,941 (1) Represents a $33,750 preferred equity investment in a partnership that owns 470 Vanderbilt Avenue, a 650,000 square foot office building in Brooklyn, New York. The preferred equity has a dividend rate of 10.3%, of which 8.0% was paid in cash through February 2016 and the unpaid portion accreted to the balance of the investment. Subsequent to February 2016, the entire 10.3% dividend is being paid in cash. (2) Represents a $17,500 preferred equity investment in a partnership that owns 2 Herald Square, a 369,000 square foot office retail property in Manhattan. The preferred equity has a dividend rate of 10.3%, of which 7.0% is paid currently and the remainder accretes to the balance of the investment. The preferred equity investment has two one-year extension options.

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	9 Months Ended
	Sep. 30, 2016
Equity Method Investments And Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	6. Investments in Unconsolidated Joint Ventures The following tables summarize our investments in unconsolidated joint ventures as of September 30, 2016 and December 31, 2015 and income from these investments for the three and nine months ended September 30, 2016 and 2015. (Amounts in thousands) Paramount As of Our Share of Investments: Ownership September 30, 2016 December 31, 2015 712 Fifth Avenue 50.0% $ 3,081 $ 3,577 Oder-Center, Germany (1) 9.5% 3,469 3,525 Investments in unconsolidated joint ventures $ 6,550 $ 7,102 (Amounts in thousands) Paramount For the Three Months Ended September 30, For the Nine Months Ended September 30, Our Share of Net Income: Ownership 2016 2015 2016 2015 712 Fifth Avenue 50.0% $ 1,772 $ 1,433 $ 5,233 $ 4,358 Oder-Center, Germany (1) 9.5% 20 25 58 86 Income from unconsolidated joint ventures $ 1,792 $ 1,458 $ 5,291 $ 4,444 (1) We account for our interest in Oder-Center, Germany on a one quarter lag basis. 712 Fifth Avenue The following tables provide summarized financial information of 712 Fifth Avenue as of the dates and for the periods set forth below. (Amounts in thousands) As of Balance Sheets: September 30, 2016 December 31, 2015 Rental property, net $ 208,578 $ 214,139 Other assets 42,534 41,337 Total assets $ 251,112 $ 255,476 Notes and mortgages payable, net $ 245,888 $ 245,582 Other liabilities 11,324 15,000 Total liabilities 257,212 260,582 Equity (1) (6,100 ) (5,106 ) Total liabilities and equity $ 251,112 $ 255,476 (1) The carrying amount of our investment is greater than our share of the equity by approximately $6,130. This basis difference resulted from distributions in excess of the equity in net earnings of 712 Fifth Avenue. (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, Income Statements: 2016 2015 2016 2015 Rental income $ 12,107 $ 12,575 $ 37,501 $ 37,021 Tenant reimbursement income 1,342 1,059 3,351 3,795 Fee and other income 418 287 1,613 910 Total revenues 13,867 13,921 42,465 41,726 Operating 6,081 5,500 17,073 17,557 Depreciation and amortization 3,193 2,945 9,244 8,829 Total expenses 9,274 8,445 26,317 26,386 Operating income 4,593 5,476 16,148 15,340 Interest and other income, net 16 3 49 8 Interest and debt expense (2,787 ) (2,687 ) (8,287 ) (8,726 ) Unrealized gain on interest rate swaps 1,722 74 2,556 2,094 Net income $ 3,544 $ 2,866 $ 10,466 $ 8,716

Intangible Assets and Liabiliti

Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets and Liabilities	7. Intangible Assets and Liabilities The following summarizes our intangible assets (primarily acquired above-market leases and acquired in-place leases) and intangible liabilities (primarily acquired below-market leases) as of September 30, 2016 and December 31, 2015. As of (Amounts in thousands) September 30, 2016 December 31, 2015 Intangible assets: Gross amount $ 567,142 $ 655,194 Accumulated amortization (160,956 ) (143,987 ) $ 406,186 $ 511,207 Intangible liabilities: Gross amount $ 199,416 $ 221,672 Accumulated amortization (55,219 ) (41,931 ) $ 144,197 $ 179,741 Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental income of $3,112,000 and $1,477,000 for the three months ended September 30, 2016 and 2015, respectively, and $6,593,000 and $3,239,000 for the nine months ended September 30, 2016 and 2015, respectively. The three and nine months ended September 30, 2016 include $2,485,000 and $10,315,000 of income, respectively, from the accelerated amortization of a below-market lease liability in connection with a tenant’s lease modification and $1,743,000 and $11,577,000 of expense, respectively, from the write-off above-market lease assets in connection with lease terminations. Estimated annual amortization of acquired below-market leases, net of acquired above-market leases, for each of the five succeeding years commencing January 1, 2017 is as follows. (Amounts in thousands) 2017 $ 9,416 2018 10,054 2019 9,372 2020 7,929 2021 3,548 Amortization of acquired in-place leases (a component of depreciation and amortization expense) was $21,917,000 and $29,376,000 for the three months ended September 30, 2016 and 2015, respectively and $76,072,000 and $100,006,000 for the nine months ended September 30, 2016 and 2015, respectively. Estimated annual amortization of acquired in-place leases for each of the five succeeding years commencing January 1, 2017 is as follows. (Amounts in thousands) 2017 $ 54,057 2018 48,366 2019 43,754 2020 38,335 2021 26,355

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	8 . Debt On May 3, 2016, we completed a $500,000,000 refinancing of 31 West 52nd Street, a 786,647 square foot Class A office building located between Fifth Avenue and Avenue of the Americas in Midtown Manhattan. The new 10-year loan is interest-only at a fixed rate of 3.80%. We realized net proceeds of $64,538,000 after the repayment of the existing $413,490,000 loan and $21,972,000 of costs, primarily for swap breakage. The existing loan was scheduled to mature in December 2017 and had a weighted average interest rate of 4.23%. The following is a summary of our outstanding debt. Maturity Fixed/Variable Interest Rate at As of (Amounts in thousands) Date Rate September 30, 2016 September 30, 2016 December 31, 2015 Notes and mortgages payable 1633 Broadway Dec-2022 Fixed (1) 3.54 % $ 1,000,000 $ 1,000,000 Dec-2022 Variable (2) 2.27 % 13,544 13,544 3.52 % 1,013,544 1,013,544 900 Third Avenue (3) Nov-2017 Fixed (1) 5.98 % 162,000 162,000 Nov-2017 Variable (4) 1.79 % 112,337 112,337 4.26 % 274,337 274,337 31 West 52nd Street May-2026 Fixed 3.80 % 500,000 237,600 n/a Variable n/a - 175,890 3.80 % 500,000 413,490 One Market Plaza (49.0% interest) Dec-2019 Fixed (1) 6.13 % 859,648 857,037 Dec-2019 Variable (5) 4.73 % 9,578 - 6.12 % 869,226 857,037 Waterview (6) June-2017 Fixed 5.76 % 210,000 210,000 1899 Pennsylvania Avenue Nov-2020 Fixed 4.88 % 88,042 89,116 Liberty Place June-2018 Fixed 4.50 % 84,000 84,000 Total notes and mortgages payable 4.60 % $ 3,039,149 $ 2,941,524 Less: deferred financing costs (22,552 ) (18,914 ) Total notes and mortgages payable, net $ 3,016,597 $ 2,922,610 $1.0 Billion Revolving Credit Facility ($200,000 reserved for outstanding letters of credit) Nov-2018 Variable 1.77 % $ 50,000 $ 20,000 (1) Represents loans with variable interest rates that have been fixed by interest rate swaps. See Note 9, Derivative Instruments and Hedging Activities (2) Represents amounts outstanding under an option to increase the loan balance up to $250,000, at LIBOR plus 175 basis points, if certain performance hurdles relating to the property are satisfied. (3) We repaid this loan on October 6, 2016. See Note 22, Subsequent Events. (4) Includes $7,710 outstanding under a $10,000 line of credit at LIBOR plus 150 basis points and an additional liquidity premium of 66 basis points. (5) Represents amounts outstanding under a $20,136 line of credit at LIBOR plus 300 basis points and an additional liquidity premium of 120 basis points. (6) We repaid this loan on October 7, 2016. See Note 22, Subsequent Events.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	9. Derivative Instruments and Hedging Activities We manage our market risk on variable rate debt by entering into interest rate swaps to fix the rate on all or a portion of the debt for varying periods through maturity. These interest rate swaps are accounted for as derivative instruments and, pursuant to ASC Topic 815, are recorded on our consolidated balance sheets at fair value. Changes in the fair value of interest rate swaps are accounted for based on the hedging relationship and their designation and qualification. 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 either post collateral up to the fair value of our derivative obligations or settle the obligations for cash. As of September 30, 2016, the fair value of these derivative obligations was $82,046,000, which was recorded as a liability and reflected as “interest rate swap liabilities” on our consolidated balance sheet. Interest Rate Swaps – Non-designated Hedges As of September 30, 2016, we had 11 interest rate swaps with an aggregate notional amount of $1.0 billion that were not designated as hedges. Changes in the fair value of interest rate swaps that are not designated as hedges are recognized in earnings. We recognized unrealized gains from the changes in the fair value of these interest rate swaps of $12,728,000 and $15,772,000 for the three months ended September 30, 2016 and 2015, respectively and $29,661,000 and $49,497,000 for the nine months ended September 30, 2016 and 2015, respectively. The table below provides additional details on our interest rate swaps that are not designated as hedges. Notional Strike Fair Value as of Property Amount Effective Date Maturity Date Rate September 30, 2016 December 31, 2015 (Amounts in thousands) One Market Plaza $ 840,000 Aug-2007 - Aug-2012 Aug-2017 5.02 % $ 31,383 $ 55,404 900 Third Avenue (1) 162,000 Nov-2007 Nov-2017 4.78 % 7,610 11,630 31 West 52nd Street (2) - n/a n/a n/a - 17,661 Total interest rate swap liabilities related to non-designated hedges $ 38,993 $ 84,695 (1) Terminated in connection with the repayment of this loan on October 6, 2016. See Note 22, Subsequent Events (2) Terminated in connection with the refinancing of 31 West 52nd Street. See Note 8, Debt. Interest Rate Swaps – Designated as Cash Flow Hedges As of September 30, 2016, we had three interest rate swaps with an aggregate notional amount of $1.0 billion that were designated as cash flow hedges. We also have entered into a forward starting interest rate swap with an aggregate notional amount of $400,000,000 to extend the maturity of one of the three swaps for an additional year. Changes in the fair value of interest rate swaps that are designated as cash flow hedges are recognized in accumulated other comprehensive loss (outside of earnings). We recognized other comprehensive income of $7,802,000 and other comprehensive loss of $18,602,000 for the three months ended September 30, 2016 and 2015, respectively, and other comprehensive losses of $33,812,000 and $18,602,000 for the nine months ended September 30, 2016 and 2015, respectively, from the changes in the fair value of these interest rate swaps. During the next twelve months, we estimate that $11,127,000 of the amounts recognized in accumulated other comprehensive loss will be reclassified as an increase to interest expense. The table below provides additional details on our interest rate swaps that are designated as cash flow hedges. Notional Strike Fair Value as of Property Amount Effective Date Maturity Date Rate September 30, 2016 December 31, 2015 (Amounts in thousands) 1633 Broadway $ 1,000,000 Dec-2015 Dec-2020 - Dec-2022 1.79 % $ 39,201 $ 9,204 1633 Broadway 400,000 Dec-2020 Dec-2021 2.35 % 3,852 37 Total interest rate swap liabilities related to cash flow hedges $ 43,053 $ 9,241

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Loss	10. Accumulated Other Comprehensive Loss The following table sets forth changes in accumulated other comprehensive loss, by component for the three and nine months ended September 30, 2016 and 2015. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2016 2015 2016 2015 Amount of income (loss) related to the effective portion of cash flow hedges recognized in other comprehensive loss (1) $ 3,727 $ (14,959 ) $ (35,554 ) $ (14,959 ) Amounts reclassified from accumulated other comprehensive loss into interest expense (1) 2,747 - (2) 8,323 - (2) Amount of (loss) income related to unconsolidated joint ventures recognized in other comprehensive loss (1) (3) (68 ) 63 (18 ) (430 ) Amount of gain (loss) related to the ineffective portion of cash flow hedges and amount excluded from effectiveness testing - - - - (1) (2) (3)

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interests	11. Noncontrolling Interests Consolidated Real Estate Funds At December 31, 2015, noncontrolling interest in consolidated real estate funds aggregated $414,637,000 and consisted of equity interest in the real estate funds that were not wholly owned by us, but were required to be consolidated into our consolidated financial statements because we were the sole general partner of such funds. On January 1, 2016, we adopted ASU 2015-02 using the modified retrospective method, which resulted in the deconsolidation of all of our real estate fund investments that were accounted for at fair value, except for the Residential Fund, which is accounted for at historical cost and will continue to be consolidated into our consolidated financial statements. See Note 4, Real Estate Fund Investments. Consolidated Joint Ventures Noncontrolling interests in consolidated joint ventures consists of equity interests held by third parties in properties and investments that are consolidated into our consolidated financial statements because we exercise control over the entities that own such properties and investments. As of September 30, 2016 and December 31, 2015, noncontrolling interests in consolidated joint ventures on our consolidated balance sheets was comprised of the equity interests held by third parties in One Market Plaza and PGRESS Equity Holdings, L.P. and aggregated to $244,234,000 and $236,849,000, respectively. Operating Partnership Noncontrolling interests in the Operating Partnership represents 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 September 30, 2016 and December 31, 2015, noncontrolling interests in the Operating Partnership on our consolidated balance sheets had a carrying amount of $758,940,000 and $898,047,000, respectively and a redemption value of $736,187,000 and $935,048,000, respectively.

Variable Interest Entities ("VI

Variable Interest Entities ("VIEs")	9 Months Ended
	Sep. 30, 2016
Variable Interest Entities [Abstract]
Variable Interest Entities ("VIEs")	1 2 . 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 determined to be the primary beneficiary. Consolidated VIEs We are the sole general partner of, and own approximately 83.0% of, the Operating Partnership as of September 30, 2016. 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 September 30, 2016, the Operating Partnership held variable interests in the entities owning certain real estate fund investments, preferred equity and a property that were determined to be VIEs. As of December 31, 2015, the Operating Partnership held variable interests in the entities owning certain funds that were determined to be VIEs. The Operating Partnership is required to consolidate its interest in these entities because it is deemed to be the primary beneficiary and has the power to direct the activities of these entities that most significantly affect economic performance and the obligation to absorb losses and rights to receive benefits that could potentially be significant to the entity. 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 table below summarizes the assets and liabilities of consolidated VIEs of the Operating Partnership. As of (Amounts in thousands) September 30, 2016 December 31, 2015 Rental property, net $ 1,336,805 $ 63,511 Investments, at fair value - 8,025 Cash and restricted cash 15,935 497 Preferred equity investments 54,807 - Deferred rent receivable 27,796 - Accounts and other receivables 977 - Deferred charges, net 5,807 - Intangible assets, net 56,241 - Other assets 1,541 - Total VIE assets $ 1,499,909 $ 72,033 Notes and mortgages payable, net $ 869,226 $ - Loans payable to noncontrolling interests - 45,662 Accounts payable and other accrued expenses 23,175 - Intangible liabilities, net 52,612 - Interest rate swap liabilities 31,383 - Other liabilities 109 195 Total VIE liabilities $ 976,505 $ 45,857 Unconsolidated VIEs The adoption of ASU 2015-02 using the modified retrospective method resulted in the deconsolidation of all of our real estate funds that were accounted for at fair value, except for the Residential Fund, which is accounted for at historical cost. The table below summarizes our investments in these unconsolidated real estate funds that are VIEs. As of September 30, 2016 Asset Management Fees Maximum Risk (Amounts in thousands) Investments and other Receivables Risk of Loss Unconsolidated real estate funds $ 25,521 $ 1,231 $ 26,752

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	1 3 . Fair Value Measurements ASC Topic 820, Fair Value Measurement and Disclosures, Financial Assets and Liabilities Measured at Fair Value Financial assets and liabilities that are measured at fair value on our consolidated balance sheets consist of marketable securities (which represent the assets in our deferred compensation plan, for which there is a corresponding liability on our consolidated balance sheets), real estate fund investments and interest rate swaps. The table below aggregates the fair values of these financial assets and liabilities at September 30, 2016 and December 31, 2015, based on their levels in the fair value hierarchy. As of September 30, 2016 (Amounts in thousands) Total Level 1 Level 2 Level 3 Marketable securities $ 22,011 $ 22,011 $ - $ - Total assets $ 22,011 $ 22,011 $ - $ - Interest rate swap liabilities $ 82,046 $ - $ 82,046 $ - Total liabilities $ 82,046 $ - $ 82,046 $ - As of December 31, 2015 (Amounts in thousands) Total Level 1 Level 2 Level 3 Real estate fund investments: Investments in Property Funds $ 248,824 $ - $ - $ 248,824 Investment in Alternative Investment Fund 167,614 - - 167,614 Total real estate fund investments 416,438 - - 416,438 Marketable securities 21,521 21,521 - - Total assets $ 437,959 $ 21,521 $ - $ 416,438 Interest rate swap liabilities $ 93,936 $ - $ 93,936 $ - Total liabilities $ 93,936 $ - $ 93,936 $ - Property Funds As of December 31, 2015, the Property Funds had four investments. These investments were classified as Level 3. We used a discounted cash flow valuation technique to estimate the fair value of each of these investments, which was updated quarterly by personnel responsible for the management of each investment and reviewed by senior management at each reporting period. The discounted cash flow valuation technique required us to estimate cash flows for each investment over the anticipated holding period, which ranged from 1.0 to 10.0 years. Cash flows were derived from property rental revenue (base rents plus reimbursements) less operating expenses, real estate taxes and capital and other costs, plus projected sales proceeds in the year of exit. Property rental revenue was based on leases currently in place and our estimates for future leasing activity, which were based on market rents for similar space. Similarly, estimated real estate taxes and operating expenses were based on amounts incurred in the period plus a projected growth factor for future periods. Anticipated sales proceeds at the end of an investment’s expected holding period were determined based on the net cash flow of the investment in the year of exit, divided by a terminal capitalization rate, less estimated selling costs. The fair value of each property was calculated by discounting future cash flows (including anticipated sales proceeds), using an appropriate discount rate. The fair value of the investment was calculated by subtracting property level debt, if any, from the fair value of the property. Significant unobservable inputs used in determining the fair value of each investment included capitalization rates and discount rates. These rates were based on, among other factors, location and type of property. Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of the Property Fund investments as of December 31, 2015. As of December 31, 2015 Unobservable Quantitative Input Range Weighted Average (based on fair value of investments) Discount rates 7.00% - 7.50% 7.18% Terminal capitalization rates 5.00% - 6.00% 5.47% The above inputs were subject to change based on changes in economic and market conditions and/or changes in use or timing of exit. Changes in discount rates and terminal capitalization rates result in increases, or decreases, in the fair values of these investments. The discount rates encompass, among other things, uncertainties in the valuation models with respect to terminal capitalization rates and the amount and timing of cash flows. Therefore, a change in the fair value of these investments resulting from a change in the terminal capitalization rate may be partially offset by a change in the discount rate. Significant increases (decreases) in any of these inputs in isolation would have resulted in a significantly lower (higher) fair value, respectively. Alternative Investment Fund As of December 31, 2015, the investments in the Alternative Investment Fund were comprised of mezzanine loans and a senior mortgage loan. These investments were classified as Level 3. Estimates of the fair value of these instruments are determined by the standard practice of modeling the contractual cash flows required and discounting it back to its present value at the appropriate risk adjusted interest rate. The balances were updated quarterly by a third party and reviewed by senior management at each reporting period. Significant unobservable inputs used in determining the fair value of these investments included preferred returns and credit spreads. Significant increases (decreases) in any of these inputs in isolation would have resulted in a significantly lower (higher) fair value, respectively. Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of the investment in the Alternative Investment Fund as of December 31, 2015. As of December 31, 2015 Unobservable Quantitative Input Range Weighted Average (based on fair value of investments) Preferred return 7.32 - 14.02% 9.51% Credit spread 2.34% 2.34% Interest Rate Swaps Interest rate swaps are valued by a third-party specialist. The valuation of these interest rate swaps is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the interest rate swaps and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Interest rate swaps are classified as Level 2. Financial Assets and Liabilities Not Measured at Fair Value Financial assets not measured at fair value on our consolidated balance sheets consists of cash equivalents and would be classified as Level 1 as their carrying amount approximates their fair value, due to their short-term nature. Financial liabilities not measured at fair value include notes and mortgages payable and the revolving credit facility. Estimates of the fair value of these instruments are determined by 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, which is provided by a third-party specialist. 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. These instruments would be classified as Level 2. The following is a summary of the carrying amounts and fair value of these financial instruments as of September 30, 2016 and December 31, 2015. As of September 30, 2016 As of December 31, 2015 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Cash equivalents $ 53,984 $ 53,984 $ 118,561 $ 118,561 Total assets $ 53,984 $ 53,984 $ 118,561 $ 118,561 As of September 30, 2016 As of December 31, 2015 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Notes and mortgages payable $ 3,039,149 $ 3,032,932 $ 2,941,524 $ 2,907,242 Revolving credit facility 50,000 50,009 20,000 20,723 Total liabilities $ 3,089,149 $ 3,082,941 $ 2,961,524 $ 2,927,965

Fee and Other Income

Fee and Other Income	9 Months Ended
	Sep. 30, 2016
Fee And Other Income [Abstract]
Fee and Other Income	1 4 . Fee and Other Income The following table sets forth the details of our fee and other income. For the Three Months Ended September 30, For the Nine Months Ended September 30, (Amounts in thousands) 2016 2015 2016 2015 Fee income Property management $ 1,404 $ 1,559 $ 4,464 $ 4,274 Asset management (1) 2,003 - 5,500 - Acquisition and leasing 244 400 873 669 Other 325 126 731 457 Total fee income 3,976 2,085 11,568 5,400 Lease termination income 3,460 50 14,508 (2) 688 Other income (3) 2,885 4,716 11,910 10,206 Total fee and other income $ 10,321 $ 6,851 $ 37,986 $ 16,294 (1) As a result of deconsolidating our real estate funds that were accounted for at fair value, on January 1, 2016, asset management fees are now included in fee income as opposed to a reduction of income attributable to noncontrolling interests in consolidated real estate funds in the prior periods. See Note 4, Real Estate Fund Investments (2) The nine months ended September 30, 2016 includes $10,861 from the termination of a lease with a tenant at 1633 Broadway. (3) Primarily comprised of income from tenant requested services, including overtime heating and cooling.

Interest and Other Income (Loss

Interest and Other Income (Loss), net	9 Months Ended
	Sep. 30, 2016
Interest And Other Income [Abstract]
Interest and Other Income (Loss), net	1 5 . Interest and Other Income (Loss), net The following table sets forth the details of interest and other income. For the Three Months Ended September 30, For the Nine Months Ended September 30, (Amounts in thousands) 2016 2015 2016 2015 Preferred equity investment income (1) $ 1,460 $ - $ 4,299 $ - Interest income 103 177 533 448 Mark-to-market of investments in our deferred compensation plans (2) 736 (1,940 ) 197 (845 ) Total interest and other income (loss), net $ 2,299 $ (1,763 ) $ 5,029 $ (397 ) (1) Represents income from our preferred equity investments in PGRESS Equity Holdings L.P., which was acquired in December 2015, of which our 24.4% share is $355 and $1,047 for the three and nine months ended September 30, 2016, respectively. See Note 5, Preferred Equity Investments (2) The change resulting from the mark-to-market of the deferred compensation plan assets is entirely offset by the change in the deferred compensation plan liabilities, which is included in “general and administrative” expenses.

Interest and Debt Expense

Interest and Debt Expense	9 Months Ended
	Sep. 30, 2016
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 Three Months Ended September 30, For the Nine Months Ended September 30, (Amounts in thousands) 2016 2015 2016 2015 Interest expense $ 36,820 $ 42,237 $ 109,285 $ 125,191 Amortization of deferred financing costs 1,458 584 4,121 1,754 Total interest and debt expense $ 38,278 $ 42,821 $ 113,406 $ 126,945

Incentive Compensation

Incentive Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Incentive Compensation	17. Incentive Compensation Stock-Based Compensation We account for all stock-based compensation in accordance with ASC Topic 718, Compensation – Stock Compensation In March 2016, our Compensation Committee approved the 2016 Performance Program, a multi-year performance-based equity compensation program. The purpose of the 2016 Performance Program 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 2016 Performance Program, participants may earn awards in the form of Long Term Incentive Plan (“LTIP”) units of our operating partnership based on our total return to stockholders (“TRS”) over a three-year performance measurement period beginning on March 18, 2016, and continuing through March 17, 2019, on both an absolute basis and relative basis. 25.0% of the award is earned if we outperform a predetermined absolute TRS and the remaining 75.0% is earned if we outperform a predetermined relative TRS. Specifically, participants begin to earn awards under the 2016 Performance Program if our TRS for the performance measurement period equals or exceeds 21.0% on an absolute basis and is within 250 basis points of the performance of the SNL Office REIT Index on a relative basis, and awards will be fully earned if our TRS for the performance measurement period equals or exceeds 36.0% on an absolute basis and exceeds the performance of the SNL Office REIT Index by 400 basis points on a relative basis. Participants will not earn any awards under the 2016 Performance Program if our TRS during the performance measurement period does not meet either of these minimum thresholds. The number of LTIP units that are earned if performance is above the minimum thresholds, but below the maximum thresholds, will be determined based on linear interpolation between the percentages earned at the minimum and maximum thresholds. During the performance measurement period, participants will receive per unit distributions equal to one-tenth of the per share dividends otherwise payable to our common stockholders with respect to their LTIP units. If the LTIP units are ultimately earned based on the achievement of the designated performance objectives, participants will receive cash or additional LTIP units based on the additional amount the participants would have received if per unit distributions during the performance measurement periods for the earned LTIP units had equaled per share dividends paid to our common stockholders less the amount of distributions participants actually received during the performance measurement period. If the designated performance objectives are achieved, awards earned under the 2016 Performance Program will also be subject to vesting based on continued employment with us through March 17, 2020, with 50.0% of each award vesting following the conclusion of the performance measurement period, and the remaining 50.0% vesting on March 17, 2020. The fair value of the awards granted under the 2016 Performance Program on the date of the grant was $10,914,000 and is being amortized into expense over the four-year vesting period using a graded vesting attribution method.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	18. Earnings Per Share The following table provides a summary of net (loss) income and the number of common shares used in the computation of basic and diluted income (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 Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands, except per share amounts) 2016 2015 2016 2015 Numerator: Net (loss) income attributable to common stockholders $ (139 ) $ 1,116 $ (3,445 ) $ (13,324 ) Earnings allocated to unvested participating securities (9 ) - (28 ) - Numerator for (loss) income per common share - basic and diluted $ (148 ) $ 1,116 $ (3,473 ) $ (13,324 ) Denominator: Denominator for basic (loss) income per common share - weighted average shares 219,394 212,107 216,318 212,107 Effect of dilutive employee stock options and restricted share awards (1) - 1 - - Denominator for diluted (loss) income per common share - weighted average shares 219,394 212,108 216,318 212,107 (Loss) income per common share - basic and diluted $ (0.00 ) $ 0.01 $ (0.02 ) $ (0.06 ) (1) The effect of dilutive securities for the three months ended September 30, 2016 and 2015 excludes 46,930 and 53,360 weighted average share equivalents, respectively, and 49,854 and 53,252 weighted average share equivalents for the nine months ended September 30, 2016 and 2015 respectively, as their effect was anti-dilutive.

Related Party

Related Party	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party	1 9 . Related Party Due to Affiliates As of September 30, 2016 and December 31, 2015, we had an aggregate of $27,299,000 of liabilities that were due to affiliates. These liabilities were comprised of a $24,500,000 note payable to CNBB-RDF Holdings, LP, which is an entity partially owned by Katharina Otto-Bernstein (a member of our Board of Directors) $43,000 and $32,000, respectively, of interest expense and for the nine months ended September 30, 2016 and 2015, we recognized $112,000 and 101,000, respectively, of interest expense in connection with these notes. Management Agreements We provide property management, leasing and other related services to certain properties owned by members of the Otto Family. We recognized an aggregate of $195,000 and $314,000 for the three months ended September 30, 2016 and 2015 and $594,000 and $562,000 for the for the nine months ended September 30, 2016 and 2015, respectively, of fee income, in connection with these agreements, which is included as a component of “fee and other income” on our consolidated statements of income. As of September 30, 2016, amounts owed to us under these agreements aggregated $80,000, which are included as a component of “accounts and other receivables, net” on our consolidated balance sheets. We also provide property management, asset management, leasing and other related services to our unconsolidated joint ventures and real estate funds. During the three and nine months ended September 30, 2016, we recognized $3,227,000 and $7,826,000, respectively, of fee income in connection with these agreements. As of September 30, 2016, amounts owed to us under these agreements aggregated $1,499,000, which are included as a component of “accounts and other receivables, net” on our consolidated balance sheets. Hamburg Trust Consulting GMBH (“HTC”) We have an agreement with HTC, a licensed broker in Germany, to supervise selling efforts for our private equity real estate funds (or investments in feeder vehicles for these funds) to investors in Germany, including distribution of securitized notes of a feeder vehicle for Fund VIII. Pursuant to this agreement, we have agreed to pay HTC for the costs incurred to sell investments in this feeder vehicle, which primarily consist of commissions paid to third party agents, and other incremental costs incurred by HTC as a result of the engagement, plus, in each case, a mark-up of 10%. HTC is 100% owned by Albert Behler, our Chairman, Chief Executive Officer and President. During the three and nine months ended September 30, 2016, we incurred $137,000 and $694,000 of expense, respectively, in connection with these agreements, which is included as a component of “acquisition and transaction related costs” on our consolidated statements of income. Mannheim Trust Dr. Martin Bussmann (a member of our Board of Directors) is also a trustee and a director of Mannheim Trust, a subsidiary of which, leases 6,790 square feet at 712 Fifth Avenue, our 50.0% owned unconsolidated joint venture. During the three and nine months ended September 30, 2016, we recognized $101,000 and $305,000, respectively, for our pro rata share of rental income from this lease.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
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. While we do carry commercial general liability insurance, property insurance and terrorism insurance with respect to our properties, 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, including claims arising specifically from the formation transactions, in connection with our initial public offering, 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 in connection with the formation transactions, 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 mortgage debt and certain side letters 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 September 30, 2016, 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 partner in the joint venture that owns 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 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 after the four-year anniversary of the sale of its interest in 718 Fifth Avenue (i.e., September 10, 2018) upon 12 months written notice with the actual purchase occurring no earlier than the five-year anniversary of such sale (i.e., September 10, 2019). If the put right is exercised and the 712 Fifth Avenue joint venture acquires the 50.0% tenancy-in-common interest in the property that will be held by our joint venture partner following the sale of its interest to our joint venture partner, we will own a 25.0% interest in 718 Fifth Avenue. 60 Wall Street - Option Agreement We own an interest in 60 Wall Street, a 47-story, 1.6 million square foot office building, located in the heart of New York’s financial district through Fund II and Fund III, which collectively own an aggregate of 62.3% of a joint venture that owns the property, and the remainder is owned by the funds’ joint venture partner. In connection with the formation transactions, we entered into an option agreement with each of Fund II and Fund III pursuant to which we have the right to acquire their joint venture interests in the property. We have the right to acquire these interests at any time before November 24, 2016 (two years after the completion of the initial public offering) at a purchase price equal to (i) the fair value of the property (subject to a minimum floor price) as set forth in the option agreement, and (ii) the net assets and liabilities of the joint venture. We can acquire these interests for either cash, or shares of our common stock, based on the fair value at the time the option is exercised. Our acquisition of these interests upon exercise of the option will be subject to Fund II and Fund III obtaining all applicable consents or waivers, including the consent or waiver of any lenders or tenants to the extent required. The purchase option contains provisions wherein the purchase price could increase to the extent we enter into any new lease or lease amendment at the property within 90 days after the closing that would have resulted in the fair value of the property increasing by more than one percent if such lease or lease amendment had been in place as of the date used to determine the fair value of the property.

Segments Disclosure

Segments Disclosure	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segments Disclosure	2 1 . Segments Disclosure Our determination of segments is primarily based on our method of internal reporting. On January 1, 2016, as a result of certain organizational and operational changes, we redefined our reportable segments to be 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. Accordingly, our reportable segments were separated by region based on the three regions in which we conduct our business: New York, Washington, D.C. and San Francisco. In connection therewith, we have reclassified the prior period segment financial data to conform to the current period presentation. The following tables provide NOI for each reportable segment for the three and nine months ended September 30, 2016 and 2015. For the Three Months Ended September 30, 2016 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 167,342 $ 113,029 $ 22,229 $ 31,441 $ 643 Property-related operating expenses (64,025 ) (45,748 ) (8,322 ) (7,994 ) (1,961 ) NOI from unconsolidated joint ventures 3,974 3,893 - - 81 NOI (1) $ 107,291 $ 71,174 $ 13,907 $ 23,447 $ (1,237 ) For the Three Months Ended September 30, 2015 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 165,641 $ 114,747 $ 21,117 $ 29,156 $ 621 Property-related operating expenses (63,354 ) (45,709 ) (8,285 ) (7,267 ) (2,093 ) NOI from unconsolidated joint ventures 4,303 4,210 - - 93 NOI (1) $ 106,590 $ 73,248 $ 12,832 $ 21,889 $ (1,379 ) For the Nine Months Ended September 30, 2016 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 504,971 $ 346,683 $ 63,689 $ 92,762 $ 1,837 Property-related operating expenses (186,964 ) (132,428 ) (24,691 ) (22,426 ) (7,419 ) NOI from unconsolidated joint ventures 12,938 12,696 - - 242 NOI (1) $ 330,945 $ 226,951 $ 38,998 $ 70,336 $ (5,340 ) For the Nine Months Ended September 30, 2015 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 486,480 $ 339,418 $ 61,341 $ 83,820 $ 1,901 Property-related operating expenses (183,019 ) (131,412 ) (23,989 ) (21,061 ) (6,557 ) NOI from unconsolidated joint ventures 12,362 12,084 - - 278 NOI (1) $ 315,823 $ 220,090 $ 37,352 $ 62,759 $ (4,378 ) (1) Net Operating Income (“NOI”) is used to measure the operating performance of a property. NOI consists of property-related revenue (which includes rental income, tenant reimbursement income and certain other income) less operating expenses (which includes building 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) income attributable to common stockholders for the three and nine months ended September 30, 2016 and 2015. For the Three Months Ended September 30, For the Nine Months Ended September 30, (Amounts in thousands) 2016 2015 2016 2015 NOI $ 107,291 $ 106,590 $ 330,945 $ 315,823 Add (subtract) adjustments to arrive to net income (loss): Fee income 3,976 2,085 11,568 5,400 Depreciation and amortization expense (66,376 ) (70,654 ) (208,475 ) (223,658 ) General and administrative expenses (13,235 ) (6,666 ) (39,335 ) (28,412 ) Acquisition and transaction related costs (282 ) (485 ) (1,725 ) (3,960 ) Transfer taxes due in connection with the sale of shares by a former joint venture partner - - - (5,872 ) NOI from unconsolidated joint ventures (3,974 ) (4,303 ) (12,938 ) (12,362 ) Income from unconsolidated joint ventures 1,792 1,458 5,291 4,444 Income from real estate fund investments - 10,933 - 30,226 Loss from unconsolidated real estate funds (1,254 ) - (2,540 ) - Interest and other income (loss), net 2,299 (1,763 ) 5,029 (397 ) Interest and debt expense (38,278 ) (42,821 ) (113,406 ) (126,945 ) Unrealized gain on interest rate swaps 12,728 15,772 29,661 49,497 Net income before income taxes 4,687 10,146 4,075 3,784 Income tax (expense) benefit (218 ) (789 ) 817 (2,706 ) Net income 4,469 9,357 4,892 1,078 Less: net (income) loss attributable to noncontrolling interests in: Consolidated real estate funds 67 (7,936 ) 819 (16,677 ) Consolidated joint ventures (4,703 ) (33 ) (10,062 ) (964 ) Operating Partnership 28 (272 ) 906 3,239 Net (loss) income attributable to common stockholders $ (139 ) $ 1,116 $ (3,445 ) $ (13,324 ) The following table provides the selected balance sheet data for each of our reportable segments as of September 30, 2016. (Amounts in thousands) As of September 30, 2016 Balance Sheet Data: Total New York Washington, D.C. San Francisco Other Total assets $ 8,340,048 $ 5,621,258 $ 1,065,587 $ 1,366,539 $ 286,664 Total liabilities 3,477,758 1,936,170 406,449 970,826 164,313 Total equity 4,862,290 3,685,088 659,138 395,713 122,351

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	22 . Subsequent Events On October 6, 2016, we completed an $850,000,000 financing of 1301 Avenue of the Americas, a 1.8 million square foot Class A office building in New York. The five-year interest-only loan matures in October 2021, has two one-year extension options and has an initial weighted average interest rate of 2.77%, based on a $500,000,000 tranche at a fixed rate of 3.05% and a $350,000,000 tranche at a floating rate of LIBOR plus 180 basis points (2.36% at closing). We retained net proceeds of $827,187,000 after closing costs. On October 6, 2016, we repaid the $274,337,000 mortgage loan on 900 Third Avenue, a 596,270 square foot Class A office building in New York. The loan was scheduled to mature in November 2017 and had a weighted average interest rate of 4.26%. In connection with the repayment, we incurred $7,729,000 of swap breakage costs. On October 7, 2016, we repaid the $210,000,000 mortgage loan on Waterview, a 647,243 square foot office building in Washington, D.C. The loan was scheduled to mature in June 2017 and had a fixed interest rate of 5.76%. In connection with the repayment, we incurred $4,734,000 of defeasance costs.

Basis of Presentation and Sig32

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements include the accounts of Paramount and its consolidated subsidiaries, including the Operating Partnership. All significant inter-company amounts have been eliminated. In our opinion, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. These condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the SEC. We have made 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 from those estimates. The results of operations for the three and nine months ended September 30, 2016, are not necessarily indicative of the operating results for the full year.
Significant Accounting Policies	Significant Accounting Policies There were no material changes to our significant accounting policies disclosed in our Annual Report on Form 10-K for the year ended December 31, 2015.
Segment Reporting	Segment Reporting Our determination of segments is primarily based on our method of internal reporting. On January 1, 2016, as a result of certain organizational and operational changes, we redefined our reportable segments to be 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. Accordingly, our reportable segments were separated by region based on the three regions in which we conduct our business: New York, Washington, D.C. and San Francisco. In connection therewith, we have reclassified the prior period segment financial data to conform to the current period presentation.
Recently Issued Accounting Literature	Recently Issued Accounting Literature In May 2014, the Financial Accounting Standard’s Board (“FASB”) issued an Accounting Standards Update (“ASU”) (“ASU 2014-09”) to Accounting Standard Codification (“ASC”) Topic 606, Revenue from Contracts with Customers. In June 2014, the FASB issued an update (“ASU 2014-12”) Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period Compensation – Stock Compensation In February 2015, the FASB issued an update (“ASU 2015-02”) Amendments to the Consolidation Analysis Consolidation. Real Estate Fund Investments. In April 2015, the FASB issued an update (“ASU 2015-03”) Simplifying the Presentation of Debt Issuance Costs Interest – Imputation of Interest. ”) Interest – Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at 18 June 2015 EITF Meetin g . ASU 2015-15 clarifies the exclusion of line-of-credit arrangements from the scope of ASU 2015-03. Therefore, debt issuance costs related to line-of-credit arrangements can be deferred and presented as an asset that is subsequently amortized over the time of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We adopted the provisions of ASU 2015-03 on January 1, 2016, and have retrospectively reclassified $18,914,000 of deferred financing costs that were included in “deferred charges, net” as of December 31, 2015, to “notes and mortgages payable, net”. The deferred financing costs related to our $1.0 billion revolving credit facility continue to be reported as an asset on our consolidated balance sheets. In September 2015, the FASB issued an update (“ASU 2015-16”) Simplifying the Accounting for Measurement-Period Adjustments Business Combinations. In February 2016, the FASB issued an update (“ASU 2016-02”) Leases Leases. is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2018, with early adoption permitted. the adoption of ASU 2016-02 on our consolidated financial statements. In March 2016, the FASB issued an update (“ASU 2016-09”) Improvements to Employee Share-Based Payment Accounting Compensation – Stock Compensation. In June 2016, the FASB issued an update (“ASU 2016-13”) Measurement of Credit Losses on Financial Instruments , Financial Instruments – Credit Losses. In August 2016, the FASB issued an update (“ASU 2016-15”) Classification of Certain Cash Receipts and Cash Payments Statement of Cash Flows

Real Estate Fund Investments (T

Real Estate Fund Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Real Estate Investments [Abstract]
Summary of Investment in Unconsolidated Real Estate Fund and Income from Fund Investments	The following tables summarize our investments in unconsolidated real estate funds as of September 30, 2016, and income or loss recognized from these investments for the three and nine months ended September 30, 2016. (Amounts in thousands) As of September 30, 2016 Our Share of Investments: Property funds (1) $ 20,813 Alternative investment fund (2) 4,708 Investments in unconsolidated real estate funds $ 25,521 (1) Represents our investments in Paramount Group Real Estate Fund II, L.P. (“Fund II”), Paramount Group Real Estate Fund III, L.P. (“Fund III”), and Paramount Group Real Estate Fund VII, L.P. (“Fund VII”) and Paramount Group Real Estate Fund VII-H, L.P. (“Fund VII-H”). (2) Represents our investment in Paramount Group Real Estate Fund VIII, L.P. (“Fund VIII”). For the Three Months Ended For the Nine Months Ended (Amounts in thousands) September 30, 2016 September 30, 2016 Our Share of Net Loss: Net investment income (loss) $ 170 $ (437 ) Net unrealized losses (361 ) (2,939 ) Carried interest (1,063 ) 836 Loss from unconsolidated real estate funds (1) $ (1,254 ) $ (2,540 ) (1) Excludes asset management and other fee income from real estate funds, which is included as a component of “fee and other income” in our consolidated statements of income for the three and nine months ended September 30, 2016.
Summary of the Fair Value of Property Funds and the Alternative Investment Fund Consolidated with Balance Sheet and Income from Fund Investments	Below is a summary of the fair value of our Property Funds and the Alternative Investment Fund that were consolidated on our balance sheet as of December 31, 2015 and income from fund investments for the three and nine months ended September 30, 2015. (Amounts in thousands) As of December 31, 2015 Real estate fund investments (1) $ 416,438 Cash and other assets, net 7,050 Total real estate fund investments 423,488 Less: noncontrolling interests in consolidated real estate funds (396,196 ) Paramount Group, Inc.'s equity in real estate fund investments $ 27,292 (1) Represents the fair value of investments owned by Fund II, Fund III, Fund VII, Fund VII-H and Fund VIII. For the For the Three Months Ended Nine Months Ended (Amounts in thousands) September 30, 2015 September 30, 2015 Net investment income $ 3,206 $ 10,363 Net realized gains 11,955 11,955 Previously recorded unrealized gains on exited investments (6,790 ) (6,058 ) Net unrealized gains 2,562 13,966 Income from real estate fund investments 10,933 30,226 Less: noncontrolling interests in consolidated real estate funds (1) (8,763 ) (19,283 ) Income from real estate fund investments attributable to Paramount Group, Inc. $ 2,170 $ 10,943 (1) Includes $1,372 and $3,985 of asset management fee income that was reflected as a reduction of the amounts attributable to noncontrolling interests for the three and nine months ended September 30, 2015, respectively.

Preferred Equity Investments (T

Preferred Equity Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Schedule Of Investments [Abstract]
Schedule of Preferred Equity Investments	The following is a summary of the preferred equity investments. (Amounts in thousands, except square feet) Paramount As of Preferred Equity Investment Ownership Dividend Rate Initial Maturity September 30, 2016 December 31, 2015 470 Vanderbilt Avenue (1) 24.4% 10.3% Feb-2019 $ 35,566 $ 35,305 2 Herald Square (2) 24.4% 10.3% Apr-2017 19,241 18,636 Total preferred equity investments $ 54,807 $ 53,941 (1) Represents a $33,750 preferred equity investment in a partnership that owns 470 Vanderbilt Avenue, a 650,000 square foot office building in Brooklyn, New York. The preferred equity has a dividend rate of 10.3%, of which 8.0% was paid in cash through February 2016 and the unpaid portion accreted to the balance of the investment. Subsequent to February 2016, the entire 10.3% dividend is being paid in cash. (2) Represents a $17,500 preferred equity investment in a partnership that owns 2 Herald Square, a 369,000 square foot office retail property in Manhattan. The preferred equity has a dividend rate of 10.3%, of which 7.0% is paid currently and the remainder accretes to the balance of the investment. The preferred equity investment has two one-year extension options.

Investments in Unconsolidated35

Investments in Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2016
Schedule Of Equity Method Investments [Line Items]
Summary of Investments and Income from Investments In Unconsolidated Joint Ventures	The following tables summarize our investments in unconsolidated joint ventures as of September 30, 2016 and December 31, 2015 and income from these investments for the three and nine months ended September 30, 2016 and 2015. (Amounts in thousands) Paramount As of Our Share of Investments: Ownership September 30, 2016 December 31, 2015 712 Fifth Avenue 50.0% $ 3,081 $ 3,577 Oder-Center, Germany (1) 9.5% 3,469 3,525 Investments in unconsolidated joint ventures $ 6,550 $ 7,102 (Amounts in thousands) Paramount For the Three Months Ended September 30, For the Nine Months Ended September 30, Our Share of Net Income: Ownership 2016 2015 2016 2015 712 Fifth Avenue 50.0% $ 1,772 $ 1,433 $ 5,233 $ 4,358 Oder-Center, Germany (1) 9.5% 20 25 58 86 Income from unconsolidated joint ventures $ 1,792 $ 1,458 $ 5,291 $ 4,444 (1) We account for our interest in Oder-Center, Germany on a one quarter lag basis.
712 Fifth Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in Unconsolidated Joint Ventures	The following tables provide summarized financial information of 712 Fifth Avenue as of the dates and for the periods set forth below. (Amounts in thousands) As of Balance Sheets: September 30, 2016 December 31, 2015 Rental property, net $ 208,578 $ 214,139 Other assets 42,534 41,337 Total assets $ 251,112 $ 255,476 Notes and mortgages payable, net $ 245,888 $ 245,582 Other liabilities 11,324 15,000 Total liabilities 257,212 260,582 Equity (1) (6,100 ) (5,106 ) Total liabilities and equity $ 251,112 $ 255,476 (1) The carrying amount of our investment is greater than our share of the equity by approximately $6,130. This basis difference resulted from distributions in excess of the equity in net earnings of 712 Fifth Avenue. (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, Income Statements: 2016 2015 2016 2015 Rental income $ 12,107 $ 12,575 $ 37,501 $ 37,021 Tenant reimbursement income 1,342 1,059 3,351 3,795 Fee and other income 418 287 1,613 910 Total revenues 13,867 13,921 42,465 41,726 Operating 6,081 5,500 17,073 17,557 Depreciation and amortization 3,193 2,945 9,244 8,829 Total expenses 9,274 8,445 26,317 26,386 Operating income 4,593 5,476 16,148 15,340 Interest and other income, net 16 3 49 8 Interest and debt expense (2,787 ) (2,687 ) (8,287 ) (8,726 ) Unrealized gain on interest rate swaps 1,722 74 2,556 2,094 Net income $ 3,544 $ 2,866 $ 10,466 $ 8,716

Intangible Assets and Liabili36

Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Summary of Intangible Assets and Liabilities	The following summarizes our intangible assets (primarily acquired above-market leases and acquired in-place leases) and intangible liabilities (primarily acquired below-market leases) as of September 30, 2016 and December 31, 2015. As of (Amounts in thousands) September 30, 2016 December 31, 2015 Intangible assets: Gross amount $ 567,142 $ 655,194 Accumulated amortization (160,956 ) (143,987 ) $ 406,186 $ 511,207 Intangible liabilities: Gross amount $ 199,416 $ 221,672 Accumulated amortization (55,219 ) (41,931 ) $ 144,197 $ 179,741
Schedule of Estimated Annual Amortization of Acquired Below-Market Leases, Net of Acquired Above-Market Leases	Estimated annual amortization of acquired below-market leases, net of acquired above-market leases, for each of the five succeeding years commencing January 1, 2017 is as follows. (Amounts in thousands) 2017 $ 9,416 2018 10,054 2019 9,372 2020 7,929 2021 3,548
Leases, Acquired-in-Place [Member]
Schedule of Estimated Annual Amortization of Acquired In-Place Leases	Estimated annual amortization of acquired in-place leases for each of the five succeeding years commencing January 1, 2017 is as follows. (Amounts in thousands) 2017 $ 54,057 2018 48,366 2019 43,754 2020 38,335 2021 26,355

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The following is a summary of our outstanding debt. Maturity Fixed/Variable Interest Rate at As of (Amounts in thousands) Date Rate September 30, 2016 September 30, 2016 December 31, 2015 Notes and mortgages payable 1633 Broadway Dec-2022 Fixed (1) 3.54 % $ 1,000,000 $ 1,000,000 Dec-2022 Variable (2) 2.27 % 13,544 13,544 3.52 % 1,013,544 1,013,544 900 Third Avenue (3) Nov-2017 Fixed (1) 5.98 % 162,000 162,000 Nov-2017 Variable (4) 1.79 % 112,337 112,337 4.26 % 274,337 274,337 31 West 52nd Street May-2026 Fixed 3.80 % 500,000 237,600 n/a Variable n/a - 175,890 3.80 % 500,000 413,490 One Market Plaza (49.0% interest) Dec-2019 Fixed (1) 6.13 % 859,648 857,037 Dec-2019 Variable (5) 4.73 % 9,578 - 6.12 % 869,226 857,037 Waterview (6) June-2017 Fixed 5.76 % 210,000 210,000 1899 Pennsylvania Avenue Nov-2020 Fixed 4.88 % 88,042 89,116 Liberty Place June-2018 Fixed 4.50 % 84,000 84,000 Total notes and mortgages payable 4.60 % $ 3,039,149 $ 2,941,524 Less: deferred financing costs (22,552 ) (18,914 ) Total notes and mortgages payable, net $ 3,016,597 $ 2,922,610 $1.0 Billion Revolving Credit Facility ($200,000 reserved for outstanding letters of credit) Nov-2018 Variable 1.77 % $ 50,000 $ 20,000 (1) Represents loans with variable interest rates that have been fixed by interest rate swaps. See Note 9, Derivative Instruments and Hedging Activities (2) Represents amounts outstanding under an option to increase the loan balance up to $250,000, at LIBOR plus 175 basis points, if certain performance hurdles relating to the property are satisfied. (3) We repaid this loan on October 6, 2016. See Note 22, Subsequent Events. (4) Includes $7,710 outstanding under a $10,000 line of credit at LIBOR plus 150 basis points and an additional liquidity premium of 66 basis points. (5) Represents amounts outstanding under a $20,136 line of credit at LIBOR plus 300 basis points and an additional liquidity premium of 120 basis points. (6) We repaid this loan on October 7, 2016. See Note 22, Subsequent Events.

Derivative Instruments and He38

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Outstanding Interest Rate Swaps	The table below provides additional details on our interest rate swaps that are not designated as hedges. Notional Strike Fair Value as of Property Amount Effective Date Maturity Date Rate September 30, 2016 December 31, 2015 (Amounts in thousands) One Market Plaza $ 840,000 Aug-2007 - Aug-2012 Aug-2017 5.02 % $ 31,383 $ 55,404 900 Third Avenue (1) 162,000 Nov-2007 Nov-2017 4.78 % 7,610 11,630 31 West 52nd Street (2) - n/a n/a n/a - 17,661 Total interest rate swap liabilities related to non-designated hedges $ 38,993 $ 84,695 (1) Terminated in connection with the repayment of this loan on October 6, 2016. See Note 22, Subsequent Events (2) Terminated in connection with the refinancing of 31 West 52nd Street. See Note 8, Debt. The table below provides additional details on our interest rate swaps that are designated as cash flow hedges. Notional Strike Fair Value as of Property Amount Effective Date Maturity Date Rate September 30, 2016 December 31, 2015 (Amounts in thousands) 1633 Broadway $ 1,000,000 Dec-2015 Dec-2020 - Dec-2022 1.79 % $ 39,201 $ 9,204 1633 Broadway 400,000 Dec-2020 Dec-2021 2.35 % 3,852 37 Total interest rate swap liabilities related to cash flow hedges $ 43,053 $ 9,241

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Summary of Changes in Accumulated Other Comprehensive Loss by Component	The following table sets forth changes in accumulated other comprehensive loss, by component for the three and nine months ended September 30, 2016 and 2015. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2016 2015 2016 2015 Amount of income (loss) related to the effective portion of cash flow hedges recognized in other comprehensive loss (1) $ 3,727 $ (14,959 ) $ (35,554 ) $ (14,959 ) Amounts reclassified from accumulated other comprehensive loss into interest expense (1) 2,747 - (2) 8,323 - (2) Amount of (loss) income related to unconsolidated joint ventures recognized in other comprehensive loss (1) (3) (68 ) 63 (18 ) (430 ) Amount of gain (loss) related to the ineffective portion of cash flow hedges and amount excluded from effectiveness testing - - - - (1) (2) (3)

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2016
Consolidated VIEs [Member]
Summary of Assets and Liabilities of Consolidated Variable Interest Entities	The table below summarizes the assets and liabilities of consolidated VIEs of the Operating Partnership As of (Amounts in thousands) September 30, 2016 December 31, 2015 Rental property, net $ 1,336,805 $ 63,511 Investments, at fair value - 8,025 Cash and restricted cash 15,935 497 Preferred equity investments 54,807 - Deferred rent receivable 27,796 - Accounts and other receivables 977 - Deferred charges, net 5,807 - Intangible assets, net 56,241 - Other assets 1,541 - Total VIE assets $ 1,499,909 $ 72,033 Notes and mortgages payable, net $ 869,226 $ - Loans payable to noncontrolling interests - 45,662 Accounts payable and other accrued expenses 23,175 - Intangible liabilities, net 52,612 - Interest rate swap liabilities 31,383 - Other liabilities 109 195 Total VIE liabilities $ 976,505 $ 45,857
Unconsolidated VIEs [Member]
Summary of Investments in Unconsolidated Real Estate Funds	The table below summarizes our investments in these unconsolidated real estate funds that are VIEs As of September 30, 2016 Asset Management Fees Maximum Risk (Amounts in thousands) Investments and other Receivables Risk of Loss Unconsolidated real estate funds $ 25,521 $ 1,231 $ 26,752

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Schedule of Fair Values of Financial Assets and Liabilities Measured at Fair Value	The table below aggregates the fair values of these financial assets and liabilities at September 30, 2016 and December 31, 2015, based on their levels in the fair value hierarchy. As of September 30, 2016 (Amounts in thousands) Total Level 1 Level 2 Level 3 Marketable securities $ 22,011 $ 22,011 $ - $ - Total assets $ 22,011 $ 22,011 $ - $ - Interest rate swap liabilities $ 82,046 $ - $ 82,046 $ - Total liabilities $ 82,046 $ - $ 82,046 $ - As of December 31, 2015 (Amounts in thousands) Total Level 1 Level 2 Level 3 Real estate fund investments: Investments in Property Funds $ 248,824 $ - $ - $ 248,824 Investment in Alternative Investment Fund 167,614 - - 167,614 Total real estate fund investments 416,438 - - 416,438 Marketable securities 21,521 21,521 - - Total assets $ 437,959 $ 21,521 $ - $ 416,438 Interest rate swap liabilities $ 93,936 $ - $ 93,936 $ - Total liabilities $ 93,936 $ - $ 93,936 $ -
Summary of Carrying Amounts and Fair Value of Financial Instruments	The following is a summary of the carrying amounts and fair value of these financial instruments as of September 30, 2016 and December 31, 2015. As of September 30, 2016 As of December 31, 2015 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Cash equivalents $ 53,984 $ 53,984 $ 118,561 $ 118,561 Total assets $ 53,984 $ 53,984 $ 118,561 $ 118,561 As of September 30, 2016 As of December 31, 2015 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Notes and mortgages payable $ 3,039,149 $ 3,032,932 $ 2,941,524 $ 2,907,242 Revolving credit facility 50,000 50,009 20,000 20,723 Total liabilities $ 3,089,149 $ 3,082,941 $ 2,961,524 $ 2,927,965
Property Funds [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Summary of Significant Unobservable Quantitative Inputs Utilized in Determining Fair Value of Investments	Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of the Property Fund investments as of December 31, 2015. As of December 31, 2015 Unobservable Quantitative Input Range Weighted Average (based on fair value of investments) Discount rates 7.00% - 7.50% 7.18% Terminal capitalization rates 5.00% - 6.00% 5.47%
Alternative Investment Fund [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Summary of Significant Unobservable Quantitative Inputs Utilized in Determining Fair Value of Investments	Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of the investment in the Alternative Investment Fund as of December 31, 2015. As of December 31, 2015 Unobservable Quantitative Input Range Weighted Average (based on fair value of investments) Preferred return 7.32 - 14.02% 9.51% Credit spread 2.34% 2.34%

Fee and Other Income (Tables)

Fee and Other Income (Tables)	9 Months Ended
	Sep. 30, 2016
Fee And Other Income [Abstract]
Schedule of Fee and Other Income	The following table sets forth the details of our fee and other income. For the Three Months Ended September 30, For the Nine Months Ended September 30, (Amounts in thousands) 2016 2015 2016 2015 Fee income Property management $ 1,404 $ 1,559 $ 4,464 $ 4,274 Asset management (1) 2,003 - 5,500 - Acquisition and leasing 244 400 873 669 Other 325 126 731 457 Total fee income 3,976 2,085 11,568 5,400 Lease termination income 3,460 50 14,508 (2) 688 Other income (3) 2,885 4,716 11,910 10,206 Total fee and other income $ 10,321 $ 6,851 $ 37,986 $ 16,294 (1) As a result of deconsolidating our real estate funds that were accounted for at fair value, on January 1, 2016, asset management fees are now included in fee income as opposed to a reduction of income attributable to noncontrolling interests in consolidated real estate funds in the prior periods. See Note 4, Real Estate Fund Investments (2) The nine months ended September 30, 2016 includes $10,861 from the termination of a lease with a tenant at 1633 Broadway. (3) Primarily comprised of income from tenant requested services, including overtime heating and cooling.

Interest and Other Income (Lo43

Interest and Other Income (Loss), net (Tables)	9 Months Ended
	Sep. 30, 2016
Interest And Other Income [Abstract]
Schedule Of Interest And Other Income (Loss), net	The following table sets forth the details of interest and other income. For the Three Months Ended September 30, For the Nine Months Ended September 30, (Amounts in thousands) 2016 2015 2016 2015 Preferred equity investment income (1) $ 1,460 $ - $ 4,299 $ - Interest income 103 177 533 448 Mark-to-market of investments in our deferred compensation plans (2) 736 (1,940 ) 197 (845 ) Total interest and other income (loss), net $ 2,299 $ (1,763 ) $ 5,029 $ (397 ) (1) Represents income from our preferred equity investments in PGRESS Equity Holdings L.P., which was acquired in December 2015, of which our 24.4% share is $355 and $1,047 for the three and nine months ended September 30, 2016, respectively. See Note 5, Preferred Equity Investments (2) The change resulting from the mark-to-market of the deferred compensation plan assets is entirely offset by the change in the deferred compensation plan liabilities, which is included in “general and administrative” expenses.

Interest and Debt Expense (Tabl

Interest and Debt Expense (Tables)	9 Months Ended
	Sep. 30, 2016
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 Three Months Ended September 30, For the Nine Months Ended September 30, (Amounts in thousands) 2016 2015 2016 2015 Interest expense $ 36,820 $ 42,237 $ 109,285 $ 125,191 Amortization of deferred financing costs 1,458 584 4,121 1,754 Total interest and debt expense $ 38,278 $ 42,821 $ 113,406 $ 126,945

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Summary of Computation of Earnings Per Share	The following table provides a summary of net (loss) income and the number of common shares used in the computation of basic and diluted income (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 Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands, except per share amounts) 2016 2015 2016 2015 Numerator: Net (loss) income attributable to common stockholders $ (139 ) $ 1,116 $ (3,445 ) $ (13,324 ) Earnings allocated to unvested participating securities (9 ) - (28 ) - Numerator for (loss) income per common share - basic and diluted $ (148 ) $ 1,116 $ (3,473 ) $ (13,324 ) Denominator: Denominator for basic (loss) income per common share - weighted average shares 219,394 212,107 216,318 212,107 Effect of dilutive employee stock options and restricted share awards (1) - 1 - - Denominator for diluted (loss) income per common share - weighted average shares 219,394 212,108 216,318 212,107 (Loss) income per common share - basic and diluted $ (0.00 ) $ 0.01 $ (0.02 ) $ (0.06 ) (1) The effect of dilutive securities for the three months ended September 30, 2016 and 2015 excludes 46,930 and 53,360 weighted average share equivalents, respectively, and 49,854 and 53,252 weighted average share equivalents for the nine months ended September 30, 2016 and 2015 respectively, as their effect was anti-dilutive.

Segments Disclosure (Tables)

Segments Disclosure (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of Each Reportable Segment Information	The following tables provide NOI for each reportable segment for the three and nine months ended September 30, 2016 and 2015. For the Three Months Ended September 30, 2016 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 167,342 $ 113,029 $ 22,229 $ 31,441 $ 643 Property-related operating expenses (64,025 ) (45,748 ) (8,322 ) (7,994 ) (1,961 ) NOI from unconsolidated joint ventures 3,974 3,893 - - 81 NOI (1) $ 107,291 $ 71,174 $ 13,907 $ 23,447 $ (1,237 ) For the Three Months Ended September 30, 2015 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 165,641 $ 114,747 $ 21,117 $ 29,156 $ 621 Property-related operating expenses (63,354 ) (45,709 ) (8,285 ) (7,267 ) (2,093 ) NOI from unconsolidated joint ventures 4,303 4,210 - - 93 NOI (1) $ 106,590 $ 73,248 $ 12,832 $ 21,889 $ (1,379 ) For the Nine Months Ended September 30, 2016 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 504,971 $ 346,683 $ 63,689 $ 92,762 $ 1,837 Property-related operating expenses (186,964 ) (132,428 ) (24,691 ) (22,426 ) (7,419 ) NOI from unconsolidated joint ventures 12,938 12,696 - - 242 NOI (1) $ 330,945 $ 226,951 $ 38,998 $ 70,336 $ (5,340 ) For the Nine Months Ended September 30, 2015 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 486,480 $ 339,418 $ 61,341 $ 83,820 $ 1,901 Property-related operating expenses (183,019 ) (131,412 ) (23,989 ) (21,061 ) (6,557 ) NOI from unconsolidated joint ventures 12,362 12,084 - - 278 NOI (1) $ 315,823 $ 220,090 $ 37,352 $ 62,759 $ (4,378 ) (1) Net Operating Income (“NOI”) is used to measure the operating performance of a property. NOI consists of property-related revenue (which includes rental income, tenant reimbursement income and certain other income) less operating expenses (which includes building 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) income attributable to common stockholders for the three and nine months ended September 30, 2016 and 2015. For the Three Months Ended September 30, For the Nine Months Ended September 30, (Amounts in thousands) 2016 2015 2016 2015 NOI $ 107,291 $ 106,590 $ 330,945 $ 315,823 Add (subtract) adjustments to arrive to net income (loss): Fee income 3,976 2,085 11,568 5,400 Depreciation and amortization expense (66,376 ) (70,654 ) (208,475 ) (223,658 ) General and administrative expenses (13,235 ) (6,666 ) (39,335 ) (28,412 ) Acquisition and transaction related costs (282 ) (485 ) (1,725 ) (3,960 ) Transfer taxes due in connection with the sale of shares by a former joint venture partner - - - (5,872 ) NOI from unconsolidated joint ventures (3,974 ) (4,303 ) (12,938 ) (12,362 ) Income from unconsolidated joint ventures 1,792 1,458 5,291 4,444 Income from real estate fund investments - 10,933 - 30,226 Loss from unconsolidated real estate funds (1,254 ) - (2,540 ) - Interest and other income (loss), net 2,299 (1,763 ) 5,029 (397 ) Interest and debt expense (38,278 ) (42,821 ) (113,406 ) (126,945 ) Unrealized gain on interest rate swaps 12,728 15,772 29,661 49,497 Net income before income taxes 4,687 10,146 4,075 3,784 Income tax (expense) benefit (218 ) (789 ) 817 (2,706 ) Net income 4,469 9,357 4,892 1,078 Less: net (income) loss attributable to noncontrolling interests in: Consolidated real estate funds 67 (7,936 ) 819 (16,677 ) Consolidated joint ventures (4,703 ) (33 ) (10,062 ) (964 ) Operating Partnership 28 (272 ) 906 3,239 Net (loss) income attributable to common stockholders $ (139 ) $ 1,116 $ (3,445 ) $ (13,324 )
Schedule of Selected Balance Sheet Data for Each Reportable Segments Information	The following table provides the selected balance sheet data for each of our reportable segments as of September 30, 2016. (Amounts in thousands) As of September 30, 2016 Balance Sheet Data: Total New York Washington, D.C. San Francisco Other Total assets $ 8,340,048 $ 5,621,258 $ 1,065,587 $ 1,366,539 $ 286,664 Total liabilities 3,477,758 1,936,170 406,449 970,826 164,313 Total equity 4,862,290 3,685,088 659,138 395,713 122,351

Organization and Business - Add

Organization and Business - Additional Information (Details) ft² in Millions	9 Months Ended
	Sep. 30, 2016ft²Properties
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of office properties | Properties	12
Area of office properties | ft²	10.4
Percentage of ownership in operating partnership	83.00%

Basis of Presentation and Sig48

Basis of Presentation and Significant Accounting Policies - Additional Information (Details)	9 Months Ended
	Sep. 30, 2016USD ($)Segment	Dec. 31, 2015USD ($)
Property Plant And Equipment [Line Items]
Number of reportable segments | Segment	3
Notes and mortgages payable	$ 3,016,597,000	$ 2,922,610,000
Revolving Credit Facility [Member]
Property Plant And Equipment [Line Items]
Revolving credit facility	$ 1,000,000,000
Restatement Adjustment [Member]
Property Plant And Equipment [Line Items]
Notes and mortgages payable		$ 18,914,000

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - One Front Street [Member] - California [Member]	Sep. 12, 2016USD ($)ft²	Sep. 30, 2016
Business Acquisition [Line Items]
Agreement acquisition date		Sep. 12, 2016
Acquisition amount	$ 521,000,000
Area of Class A office building | ft²	651,000
Other Assets [Member]
Business Acquisition [Line Items]
Non-refundable deposit	$ 50,000,000

Real Estate Fund Investments -

Real Estate Fund Investments - Summary of Investment in Unconsolidated Real Estate Fund and Income from Fund Investments (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)
Our Share of Investments:
Investments in unconsolidated real estate funds	$ 25,521	$ 25,521
Loss from unconsolidated real estate funds	(1,254)	(2,540)
Net investment income (loss) [Member]
Our Share of Investments:
Loss from unconsolidated real estate funds	170	(437)
Net unrealized losses [Member]
Our Share of Investments:
Loss from unconsolidated real estate funds	(361)	(2,939)
Carried interest [Member]
Our Share of Investments:
Loss from unconsolidated real estate funds	(1,063)	836
Property Funds [Member]
Our Share of Investments:
Investments in unconsolidated real estate funds	20,813	20,813
Alternative Investment Fund [Member]
Our Share of Investments:
Investments in unconsolidated real estate funds	$ 4,708	$ 4,708

Real Estate Fund Investments 51

Real Estate Fund Investments - Additional Information (Details)	Sep. 30, 2016
Property Fund II [Member]
Investment Holdings [Line Items]
Percentage interest in fund	10.00%
Property Fund III [Member]
Investment Holdings [Line Items]
Percentage interest in fund	3.10%
Property Fund VII [Member]
Investment Holdings [Line Items]
Percentage interest in fund	7.50%

Real Estate Fund Investments 52

Real Estate Fund Investments - Schedule of Financial Information for Fund Investment (Details) $ in Thousands	Sep. 30, 2016USD ($)
Property Fund II [Member]
Investment Holdings [Line Items]
Real estate funds financial	$ 35,708
Real estate funds financial	113
Real estate funds financial	35,595
Real estate funds financial	35,708
Property Fund III [Member]
Investment Holdings [Line Items]
Real estate funds financial	27,609
Real estate funds financial	80
Real estate funds financial	27,529
Real estate funds financial	27,609
Property Fund VII [Member]
Investment Holdings [Line Items]
Real estate funds financial	161,214
Real estate funds financial	1,106
Real estate funds financial	160,108
Real estate funds financial	161,214
Real Estate Investments [Member] | Property Fund II [Member]
Investment Holdings [Line Items]
Real estate funds financial	34,977
Real Estate Investments [Member] | Property Fund III [Member]
Investment Holdings [Line Items]
Real estate funds financial	26,424
Real Estate Investments [Member] | Property Fund VII [Member]
Investment Holdings [Line Items]
Real estate funds financial	160,362
Cash And Cash Equivalent | Property Fund II [Member]
Investment Holdings [Line Items]
Real estate funds financial	604
Cash And Cash Equivalent | Property Fund III [Member]
Investment Holdings [Line Items]
Real estate funds financial	1,185
Cash And Cash Equivalent | Property Fund VII [Member]
Investment Holdings [Line Items]
Real estate funds financial	852
Other Assets [Member] | Property Fund II [Member]
Investment Holdings [Line Items]
Real estate funds financial	127
Other Liabilities [Member] | Property Fund II [Member]
Investment Holdings [Line Items]
Real estate funds financial	113
Other Liabilities [Member] | Property Fund III [Member]
Investment Holdings [Line Items]
Real estate funds financial	80
Other Liabilities [Member] | Property Fund VII [Member]
Investment Holdings [Line Items]
Real estate funds financial	$ 1,106

Real Estate Fund Investments 53

Real Estate Fund Investments - Schedule of Income from Fund Investment (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	$ (1,254)	$ (2,540)
Property Fund II [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	681	(32,578)
Property Fund VII [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	(4,083)	7,650
Property Fund III [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	602	(10,264)
Investment Income [Member] | Property Fund II [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	1,389	1,391
Investment Income [Member] | Property Fund VII [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	1,233	1,233
Investment Income [Member] | Property Fund III [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	480	480
Investment Expenses [Member] | Property Fund II [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	668	2,051
Investment Expenses [Member] | Property Fund VII [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	501	1,512
Investment Expenses [Member] | Property Fund III [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	55	193
Net investment income (loss) [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	170	(437)
Net investment income (loss) [Member] | Property Fund II [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	721	(660)
Net investment income (loss) [Member] | Property Fund VII [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	732	(279)
Net investment income (loss) [Member] | Property Fund III [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	425	287
Net Unrealized (Losses) Gains [Member] | Property Fund II [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	(40)	(31,918)
Net Unrealized (Losses) Gains [Member] | Property Fund VII [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	(4,815)	7,929
Net Unrealized (Losses) Gains [Member] | Property Fund III [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	$ 177	$ (10,551)

Real Estate Fund Investments 54

Real Estate Fund Investments - Summary of the Fair Value of Property Funds and the Alternative Investment Fund Consolidated with Balance Sheet and Income from Fund Investments (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2015
Investment Holdings [Line Items]
Real estate fund investments			$ 416,438
Cash and other assets, net			7,050
Total real estate fund investments			423,488
Less: noncontrolling interests in consolidated real estate funds			(396,196)
Paramount Group, Inc.'s equity in real estate fund investments			$ 27,292
Income (loss) from real estate fund investments	$ 10,933	$ 30,226
Less: amounts attributable to noncontrolling interests	(8,763)	(19,283)
Income from real estate fund investments attributable to Paramount Group, Inc.	2,170	10,943
Net investment income (loss) [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	3,206	10,363
Net realized gains [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	11,955	11,955
Previously recorded unrealized gain on exited investments [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	(6,790)	(6,058)
Net unrealized gains [Member]
Investment Holdings [Line Items]
Income (loss) from real estate fund investments	$ 2,562	$ 13,966

Real Estate Fund Investments 55

Real Estate Fund Investments - Summary of the Fair Value of Property Funds and the Alternative Investment Fund Consolidated with Balance Sheet and Income from Fund Investments (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Investment Holdings [Line Items]
Asset management fee income	$ 2,003		$ 5,500
Noncontrolling Interest [Member]
Investment Holdings [Line Items]
Asset management fee income		$ 1,372		$ 3,985

Preferred Equity Investments -

Preferred Equity Investments - Additional Information (Details)	Sep. 30, 2016
Schedule Of Investments [Abstract]
Preferred equity ownership percentage	24.40%

Preferred Equity Investments (D

Preferred Equity Investments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Investment Holdings [Line Items]
Preferred equity ownership percentage	24.40%
Preferred equity investments	$ 54,807	$ 53,941
470 Vanderbilt Avenue [Member]
Investment Holdings [Line Items]
Preferred equity ownership percentage	24.40%
Preferred Equity Investments, Dividend Rate	10.30%
Preferred Equity Investments, Initial Maturity	2019-02
Preferred equity investments	$ 35,566	35,305
2 Herald Square [Member]
Investment Holdings [Line Items]
Preferred equity ownership percentage	24.40%
Preferred Equity Investments, Dividend Rate	10.30%
Preferred Equity Investments, Initial Maturity	2017-04
Preferred equity investments	$ 19,241	$ 18,636

Preferred Equity Investments 58

Preferred Equity Investments - Parenthetical (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)ft²
Schedule Of Investments [Line Items]
Area of office properties	10,400,000
470 Vanderbilt Avenue [Member]
Schedule Of Investments [Line Items]
Preferred equity investments, partnership amount | $	$ 33,750
Area of office properties	650,000
Preferred Equity Investments, Dividend Rate	10.30%
Preferred equity investments, dividend rate percentage paid	8.00%
2 Herald Square [Member]
Schedule Of Investments [Line Items]
Preferred equity investments, partnership amount | $	$ 17,500
Area of office properties	369,000
Preferred Equity Investments, Dividend Rate	10.30%
Preferred equity investments, dividend rate percentage paid	7.00%

Investments in Unconsolidated59

Investments in Unconsolidated Joint Ventures - Summary of Investments and Income from Investments In Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Schedule Of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures	$ 6,550		$ 6,550		$ 7,102
Income from unconsolidated joint ventures	$ 1,792	$ 1,458	$ 5,291	$ 4,444
712 Fifth Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	50.00%		50.00%
Investments in unconsolidated joint ventures	$ 3,081		$ 3,081		3,577
Income from unconsolidated joint ventures	$ 1,772	1,433	$ 5,233	4,358
Oder-Center, Germany [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	9.50%		9.50%
Investments in unconsolidated joint ventures	$ 3,469		$ 3,469		$ 3,525
Income from unconsolidated joint ventures	$ 20	$ 25	$ 58	$ 86

Investments in Unconsolidated60

Investments in Unconsolidated Joint Ventures - Summary of Financial Information (Details) - 712 Fifth Avenue [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Schedule Of Equity Method Investments [Line Items]
Rental property, net	$ 208,578		$ 208,578		$ 214,139
Other assets	42,534		42,534		41,337
Total assets	251,112		251,112		255,476
Notes and mortgages payable, net	245,888		245,888		245,582
Other liabilities	11,324		11,324		15,000
Total liabilities	257,212		257,212		260,582
Equity	(6,100)		(6,100)		(5,106)
Total liabilities and equity	251,112		251,112		$ 255,476
Rental income	12,107	$ 12,575	37,501	$ 37,021
Tenant reimbursement income	1,342	1,059	3,351	3,795
Fee and other income	418	287	1,613	910
Total revenues	13,867	13,921	42,465	41,726
Operating	6,081	5,500	17,073	17,557
Depreciation and amortization	3,193	2,945	9,244	8,829
Total expenses	9,274	8,445	26,317	26,386
Operating income	4,593	5,476	16,148	15,340
Interest and other income, net	16	3	49	8
Interest and debt expense	(2,787)	(2,687)	(8,287)	(8,726)
Unrealized gain on interest rate swaps	1,722	74	2,556	2,094
Net income	$ 3,544	$ 2,866	$ 10,466	$ 8,716

Investments in Unconsolidated61

Investments in Unconsolidated Joint Ventures - Summary of Financial Information (Parenthetical) (Details) $ in Thousands	Sep. 30, 2016USD ($)
712 Fifth Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Difference between carrying amount of investment and equity	$ 6,130

Intangible Assets and Intangibl

Intangible Assets and Intangible Liabilities - Summary of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Intangible assets:
Gross amount	$ 567,142	$ 655,194
Accumulated amortization	(160,956)	(143,987)
Intangible assets, Net	406,186	511,207
Intangible liabilities:
Gross amount	199,416	221,672
Accumulated amortization	(55,219)	(41,931)
Intangible Liabilities, Net	$ 144,197	$ 179,741

Intangible Assets and Liabili63

Intangible Assets and Liabilities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Leases, Acquired-in-Place, Market Adjustment [Member]
Finite Lived Intangible Assets [Line Items]
Rental income increase (decrease)	$ 3,112	$ 1,477	$ 6,593	$ 3,239
Write-off above market lease asset	1,743		11,577
Income of tenant's below market lease asset	2,485		10,315
Leases, Acquired-in-Place [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of acquired in-place leases	$ 21,917	$ 29,376	$ 76,072	$ 100,006

Intangible Assets and Intangi64

Intangible Assets and Intangible Liabilities - Schedule of Estimated Annual Amortization of Acquired Below-Market Leases, Net of Acquired Above-Market Leases (Details) $ in Thousands	Sep. 30, 2016USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2,017	$ 9,416
2,018	10,054
2,019	9,372
2,020	7,929
2,021	$ 3,548

Intangible Assets and Intangi65

Intangible Assets and Intangible Liabilities - Schedule of Estimated Annual Amortization of Acquired In-Place Leases (Details) - Leases, Acquired-in-Place [Member] $ in Thousands	Sep. 30, 2016USD ($)
Finite Lived Intangible Assets [Line Items]
2,017	$ 54,057
2,018	48,366
2,019	43,754
2,020	38,335
2,021	$ 26,355

Debt - Additional Information (

Debt - Additional Information (Details)	May 03, 2016USD ($)ft²	Sep. 30, 2016USD ($)ft²	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Area of office properties | ft²		10,400,000
Notes and mortgages payable, interest rate		4.60%
Notes and mortgages payable		$ 3,039,149,000	$ 2,941,524,000
Payment of swap breakage costs	$ 21,972,000
31 West 52nd Street [Member]
Debt Instrument [Line Items]
Mortgage refinancing extended amount	$ 500,000,000
Area of office properties | ft²	786,647
Debt instrument term of notes	10 years
Notes and mortgages payable, interest rate		3.80%
Proceeds after repayment of existing loan	$ 64,538,000
Notes and mortgages payable		$ 500,000,000	413,490,000
31 West 52nd Street [Member] | Existing Loan [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, interest rate		4.23%
Notes and mortgages payable		$ 413,490,000
Maturity date of debt		2017-12
31 West 52nd Street [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, interest rate	3.80%	3.80%
Notes and mortgages payable		$ 500,000,000	$ 237,600,000
Maturity date of debt		2026-05

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	May 03, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate	4.60%
Notes and mortgages payable	$ 3,039,149		$ 2,941,524
Credit Facility	50,000		20,000
Less: deferred financing costs	(22,552)		(18,914)
Total notes and mortgages payable, net	$ 3,016,597		2,922,610
Credit Facility With Variable Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date of debt	2018-11
Interest Rate	1.77%
Credit Facility	$ 50,000		20,000
1633 Broadway [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate	3.52%
Notes and mortgages payable	$ 1,013,544		1,013,544
1633 Broadway [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2022-12
Notes and mortgages payable, Interest Rate	3.54%
Notes and mortgages payable	$ 1,000,000		1,000,000
1633 Broadway [Member] | Mortgages and Notes Payable with Variable Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2022-12
Notes and mortgages payable, Interest Rate	2.27%
Notes and mortgages payable	$ 13,544		13,544
900 Third Avenue [Member]
Debt Instrument [Line Items]
Maturity date of debt	2017-11
Notes and mortgages payable, Interest Rate	4.26%
Notes and mortgages payable	$ 274,337		274,337
900 Third Avenue [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2017-11
Notes and mortgages payable, Interest Rate	5.98%
Notes and mortgages payable	$ 162,000		162,000
900 Third Avenue [Member] | Mortgages and Notes Payable with Variable Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2017-11
Notes and mortgages payable, Interest Rate	1.79%
Notes and mortgages payable	$ 112,337		112,337
31 West 52nd Street [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate	3.80%
Notes and mortgages payable	$ 500,000		413,490
31 West 52nd Street [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2026-05
Notes and mortgages payable, Interest Rate	3.80%	3.80%
Notes and mortgages payable	$ 500,000		237,600
31 West 52nd Street [Member] | Mortgages and Notes Payable with Variable Rate [Member]
Debt Instrument [Line Items]
Notes and mortgages payable			175,890
One Market Plaza [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate	6.12%
Notes and mortgages payable	$ 869,226		857,037
One Market Plaza [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2019-12
Notes and mortgages payable, Interest Rate	6.13%
Notes and mortgages payable	$ 859,648		857,037
One Market Plaza [Member] | Mortgages and Notes Payable with Variable Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2019-12
Notes and mortgages payable, Interest Rate	4.73%
Notes and mortgages payable	$ 9,578
Waterview [Member]
Debt Instrument [Line Items]
Maturity date of debt	2017-06
Waterview [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2017-06
Notes and mortgages payable, Interest Rate	5.76%
Notes and mortgages payable	$ 210,000		210,000
1899 Pennsylvania Avenue [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2020-11
Notes and mortgages payable, Interest Rate	4.88%
Notes and mortgages payable	$ 88,042		89,116
Liberty Place [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2018-06
Notes and mortgages payable, Interest Rate	4.50%
Notes and mortgages payable	$ 84,000		$ 84,000

Debt - Summary of Outstanding68

Debt - Summary of Outstanding Debt (Parenthetical) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Letter of credit	$ 200,000,000
Revolving credit facility	50,000,000	$ 20,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving Credit Facility	1,000,000,000
1633 Broadway [Member] | Two Hundred And Fifty Million Line Of Credit [Member]
Debt Instrument [Line Items]
Additional Borrowing Capacity Subject To Performance Hurdles	$ 250,000,000
Additional Borrowing Capacity Interest Rate Description	LIBOR plus 175 basis points
1633 Broadway [Member] | Two Hundred And Fifty Million Line Of Credit [Member] | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	1.75%
900 Third Avenue [Member] | Ten Million Line Of Credit [Member]
Debt Instrument [Line Items]
Revolving credit facility	$ 7,710,000
Line of Credit Borrowing Capacity	$ 10,000,000
Line Of Credit Facility Interest Rate Description	LIBOR plus 150 basis points and an additional liquidity premium of 66 basis points
900 Third Avenue [Member] | Ten Million Line Of Credit [Member] | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	1.50%
Additional liquidity premium on variable rate	0.66%
One Market Plaza [Member]
Debt Instrument [Line Items]
Ownership interest rate of property	49.00%
One Market Plaza [Member] | Twenty Million Line Of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Borrowing Capacity	$ 20,136,000
Line Of Credit Facility Interest Rate Description	LIBOR plus 300 basis points and an additional liquidity premium of 120 basis points
One Market Plaza [Member] | Twenty Million Line Of Credit [Member] | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	3.00%
Additional liquidity premium on variable rate	1.20%

Derivative Instruments and He69

Derivative Instruments and Hedging Activities - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)Derivative	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Derivative	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Derivative [Line Items]
Interest rate swap liabilities	$ 82,046,000		$ 82,046,000		$ 93,936,000
Change in value of interest rate swaps	7,802,000	$ (18,602,000)	(33,812,000)	$ (18,602,000)
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Interest rate swap liabilities	$ 38,993,000		$ 38,993,000		84,695,000
Number of derivatives | Derivative	11		11
Aggregate notional amount	$ 1,000,000,000		$ 1,000,000,000
Unrealized gains on interest rate swaps	12,728,000	15,772,000	29,661,000	49,497,000
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Interest rate swap liabilities	43,053,000		43,053,000		$ 9,241,000
Change in value of interest rate swaps	$ 7,802,000	$ (18,602,000)	(33,812,000)	$ (18,602,000)
Estimated accumulated other comprehensive loss reclassified to interest expense in the next twelve months			$ 11,127,000
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | 1633 Broadway [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Number of derivatives | Derivative	3		3
Aggregate notional amount	$ 1,000,000,000		$ 1,000,000,000
Designated as Hedging Instrument [Member] | Interest Rate Swap March Two Thousand Sixteen [Member] | 1633 Broadway [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Aggregate notional amount	$ 400,000,000		$ 400,000,000

Derivative Instruments and He70

Derivative Instruments and Hedging Activities - Summary of Outstanding Interest Rate Swaps (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Interest rate swap liabilities	$ 82,046,000	$ 93,936,000
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount	1,000,000,000
Interest rate swap liabilities	38,993,000	84,695,000
Not Designated as Hedging Instrument [Member] | One Market Plaza [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount	$ 840,000,000
Maturity Date	2017-08
Strike Rate	5.02%
Interest rate swap liabilities	$ 31,383,000	55,404,000
Not Designated as Hedging Instrument [Member] | One Market Plaza [Member] | Minimum | Interest Rate Swap [Member]
Derivative [Line Items]
Effective Dates	2007-08
Not Designated as Hedging Instrument [Member] | One Market Plaza [Member] | Maximum | Interest Rate Swap [Member]
Derivative [Line Items]
Effective Dates	2012-08
Not Designated as Hedging Instrument [Member] | 900 Third Avenue [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount	$ 162,000,000
Effective Dates	2007-11
Maturity Date	2017-11
Strike Rate	4.78%
Interest rate swap liabilities	$ 7,610,000	11,630,000
Not Designated as Hedging Instrument [Member] | 31 West 52nd Street [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Interest rate swap liabilities		17,661,000
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Interest rate swap liabilities	43,053,000	9,241,000
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Interest Rate Swap [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Notional Amount	1,000,000,000
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Interest Rate Swap September Two Thousand Fifteen [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Notional Amount	$ 1,000,000,000
Effective Dates	2015-12
Strike Rate	1.79%
Interest rate swap liabilities	$ 39,201,000	9,204,000
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Interest Rate Swap November Two Thousand Fifteen [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Notional Amount	$ 400,000,000
Effective Dates	2020-12
Maturity Date	2021-12
Strike Rate	2.35%
Interest rate swap liabilities	$ 3,852,000	$ 37,000
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Minimum | Interest Rate Swap September Two Thousand Fifteen [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Maturity Date	2020-12
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Maximum | Interest Rate Swap September Two Thousand Fifteen [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Maturity Date	2022-12

Derivative Instruments and He71

Derivative Instruments and Hedging Activities - Summary of Outstanding Interest Rate Swaps (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2016
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | 900 Third Avenue [Member]
Derivative [Line Items]
Derivative instrument, repayment termination date	Oct. 6, 2016

Accumulated Other Comprehensi72

Accumulated Other Comprehensive Income - Summary of Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($)		3 Months Ended			9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income Loss [Line Items]
Amount of income (loss) related to the effective portion of cash flow hedges recognized in other comprehensive loss	[1]	$ 3,727,000	$ (14,959,000)		$ (35,554,000)	$ (14,959,000)
Amounts reclassified from accumulated other comprehensive loss into interest expense	[1]	2,747,000	0	[2]	8,323,000	0	[2]
Unconsolidated Joint Ventures [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Amounts reclassified from accumulated other comprehensive loss into interest expense		0	0		0	0
Amount of income (loss) related to the effective portion recognized in other comprehensive loss	[1],[3]	$ (68,000)	$ 63,000		$ (18,000)	$ (430,000)
[1]	Net of amount attributable to the noncontrolling interests in the Operating Partnership.
[2]	There were no reclassifications from accumulated other comprehensive loss into interest expense as each swap was a forward starting interest rate swap.
[3]	Balance held in accumulated other comprehensive loss relates to foreign currency translation adjustments. No amounts were reclassified from accumulated other comprehensive loss during any of the periods set forth above.

Accumulated Other Comprehensi73

Accumulated Other Comprehensive Income - Summary of Changes in Accumulated Other Comprehensive Loss by Component (Parenthetical) (Details) - USD ($)		3 Months Ended			9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income Loss [Line Items]
Amounts reclassified from accumulated other comprehensive loss	[1]	$ 2,747,000	$ 0	[2]	$ 8,323,000	$ 0	[2]
Unconsolidated Joint Ventures [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Amounts reclassified from accumulated other comprehensive loss		$ 0	$ 0		$ 0	$ 0
[1]	Net of amount attributable to the noncontrolling interests in the Operating Partnership.
[2]	There were no reclassifications from accumulated other comprehensive loss into interest expense as each swap was a forward starting interest rate swap.

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Noncontrolling Interest [Abstract]
Noncontrolling interest in consolidated real estate funds aggregated	$ 62,790	$ 414,637
Consolidated joint ventures	244,234	236,849
Operating partnerships	758,940	898,047
Redemption value	$ 736,187	$ 935,048
Common units conversion basis	one-for-one

Variable Interest Entities ("75

Variable Interest Entities ("VIEs") - Additional Information (Details)	9 Months Ended
	Sep. 30, 2016
Variable Interest Entities [Abstract]
Percentage of ownership in operating partnership	83.00%

Variable Interest Entities ("76

Variable Interest Entities ("VIEs") - Summary of Assets and Liabilities of Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Rental property, net		$ 7,370,321	$ 7,409,028
Cash and restricted cash		30,304	41,823
Preferred equity investments		54,807	53,941
Deferred rent receivable		150,539	77,792
Accounts and other receivables		12,185	10,844
Deferred charges, net		81,672	74,991
Intangible assets, net		406,186	511,207
Other assets		96,671	6,658
Total assets	[1]	8,340,048	8,775,229
Notes and mortgages payable, net		3,039,149	2,941,524
Loans payable to noncontrolling interests			45,662
Accounts payable and accrued expenses		85,947	102,730
Intangible liabilities, net		144,197	179,741
Interest rate swap liabilities		82,046	93,936
Other liabilities		46,275	45,101
Total liabilities	[1]	3,477,758	3,464,679
Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Rental property, net		1,336,805	63,511
Investments, at fair value			8,025
Cash and restricted cash		15,935	497
Preferred equity investments		54,807
Deferred rent receivable		27,796
Accounts and other receivables		977
Deferred charges, net		5,807
Intangible assets, net		56,241
Other assets		1,541
Total assets		1,499,909	72,033
Notes and mortgages payable, net		869,226
Loans payable to noncontrolling interests			45,662
Accounts payable and accrued expenses		23,175
Intangible liabilities, net		52,612
Interest rate swap liabilities		31,383
Other liabilities		109	195
Total liabilities		$ 976,505	$ 45,857
[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 83.0%. As of September 30, 2016, the assets and liabilities of the Operating Partnership include $1,499,909 and $976,505 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities.

Variable Interest Entities ("77

Variable Interest Entities ("VIEs") - Summary of Investments in Unconsolidated Real Estate Funds (Details) $ in Thousands	Sep. 30, 2016USD ($)
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	$ 25,521
Investment [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	25,521
Asset Management Fees and Other Receivables [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	1,231
Maximum Risk Of Loss [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	$ 26,752

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Values of Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities	$ 22,011	$ 21,521
Total assets	22,011	437,959
Interest rate swap liabilities	82,046	93,936
Total liabilities	82,046	93,936
Investments in Property Funds		248,824
Investment in Alternative Investment Fund		167,614
Total real estate fund investments		416,438
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities	22,011	21,521
Total assets	22,011	21,521
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap liabilities	82,046	93,936
Total liabilities	$ 82,046	93,936
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets		416,438
Investments in Property Funds		248,824
Investment in Alternative Investment Fund		167,614
Total real estate fund investments		$ 416,438

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - Property Funds [Member]	12 Months Ended
	Dec. 31, 2015Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Number of investments held by fund	4
Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurement anticipated investment holding period	1 year
Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurement anticipated investment holding period	10 years

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Significant Unobservable Quantitative Inputs Utilized in Determining Fair Value of Investments (Details)	12 Months Ended
	Dec. 31, 2015
Property Funds [Member] | Minimum
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rates	7.00%
Terminal capitalization rates	5.00%
Property Funds [Member] | Maximum
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rates	7.50%
Terminal capitalization rates	6.00%
Property Funds [Member] | Weighted Average (based on fair value of investments) [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rates	7.18%
Terminal capitalization rates	5.47%
Alternative Investment Fund [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Credit spread	2.34%
Alternative Investment Fund [Member] | Minimum
Fair Value Inputs Assets Quantitative Information [Line Items]
Preferred return	7.32%
Alternative Investment Fund [Member] | Maximum
Fair Value Inputs Assets Quantitative Information [Line Items]
Preferred return	14.02%
Alternative Investment Fund [Member] | Weighted Average (based on fair value of investments) [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Preferred return	9.51%
Credit spread	2.34%

Fair Value Measurements - Sum81

Fair Value Measurements - Summary of Carrying Amounts and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total assets	[1]	$ 8,340,048	$ 8,775,229
Notes and mortgages payable, net		3,039,149	2,941,524
Revolving credit facility		50,000	20,000
Total liabilities	[1]	3,477,758	3,464,679
Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash equivalents		53,984	118,561
Total assets		53,984	118,561
Notes and mortgages payable, net		3,039,149	2,941,524
Revolving credit facility		50,000	20,000
Total liabilities		3,089,149	2,961,524
Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total assets		53,984	118,561
Notes and mortgages payable, net		3,032,932	2,907,242
Revolving credit facility		50,009	20,723
Total liabilities		3,082,941	2,927,965
Cash equivalents		$ 53,984	$ 118,561
[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 83.0%. As of September 30, 2016, the assets and liabilities of the Operating Partnership include $1,499,909 and $976,505 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities.

Fee and Other Income - Schedule

Fee and Other Income - Schedule of Fee and Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fee income
Property management	$ 1,404	$ 1,559	$ 4,464	$ 4,274
Asset management fee income	2,003		5,500
Acquisition and leasing	244	400	873	669
Other	325	126	731	457
Total fee income	3,976	2,085	11,568	5,400
Lease termination income	3,460	50	14,508	688
Other income	2,885	4,716	11,910	10,206
Total fee and other income	$ 10,321	$ 6,851	$ 37,986	$ 16,294

Fee and Other Income - Schedu83

Fee and Other Income - Schedule of Fee and Other Income (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fee And Other Income [Line Items]
Lease termination income	$ 3,460	$ 50	$ 14,508	$ 688
1633 Broadway [Member]
Fee And Other Income [Line Items]
Lease termination income			$ 10,861

Interest and Other Income (Lo84

Interest and Other Income (Loss), net - Schedule Of Interest And Other Income (Loss), net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Interest And Other Income [Abstract]
Preferred equity investment income	$ 1,460		$ 4,299
Interest income	103	$ 177	533	$ 448
Mark-to-market of investments in our deferred compensation plans	736	(1,940)	197	(845)
Total interest and other income (loss), net	$ 2,299	$ (1,763)	$ 5,029	$ (397)

Interest and Other Income (Lo85

Interest and Other Income (Loss), net - Schedule Of Interest And Other Income (Loss), net (Parenthetical) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Preferred equity investment income	$ 1,460	$ 4,299
Preferred equity ownership percentage	24.40%	24.40%
PGRESS Equity Holdings L.P. [Member]
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Preferred equity investment income	$ 355	$ 1,047
Preferred equity ownership percentage	24.40%	24.40%

Interest and Debt Expense - Det

Interest and Debt Expense - Details of Interest and Debt Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Interest And Debt Expense [Abstract]
Interest expense	$ 36,820	$ 42,237	$ 109,285	$ 125,191
Amortization of deferred financing costs	1,458	584	4,121	1,754
Total interest and debt expense	$ 38,278	$ 42,821	$ 113,406	$ 126,945

Incentive Compensation - Additi

Incentive Compensation - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 2,583,000	$ 1,613,000	$ 8,766,000	$ 6,018,000
Acceleration of vesting stock awards				$ 1,855,000	$ 1,861,000
Equity Incentive Plan [Member] | Full Value Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant		12,227,090		12,227,090
2016 Performance Program [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance measurement period, term	3 years
Performance measurement period, start date	Mar. 18, 2016
Performance measurement period, end date	Mar. 17, 2019
Percentage of award earned based on performance of absolute return to stockholders	25.00%
Percentage of award earned based on performance of relative return to stockholders	75.00%
Fair value of awards granted	$ 10,914,000
Vesting period	4 years
2016 Performance Program [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	50.00%
2016 Performance Program [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	50.00%
2016 Performance Program [Member] | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total return to stockholders for participants to start earning awards on absolute basis	21.00%
Percentage by which to exceed the performance of the SNL Office REIT Index for participants to start to earn awards on relative basis	2.50%
Total return to stockholders for participants to fully earn awards on absolute basis	36.00%
Percentage by which to exceed performance of the SNL office REIT index for participants to fully earn awards on relative basis	4.00%

Earnings Per Share - Summary of

Earnings Per Share - Summary of Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Numerator:
Net (loss) income attributable to common stockholders	$ (139)	$ 1,116	$ (3,445)	$ (13,324)
Earnings allocated to unvested participating securities	(9)		(28)
Numerator for (loss) income per common share - basic and diluted	$ (148)	$ 1,116	$ (3,473)	$ (13,324)
Denominator:
Denominator for basic (loss) income per common share - weighted average shares	219,394,245	212,106,718	216,317,746	212,106,718
Effect of dilutive employee stock options and restricted share awards		1,000
Denominator for diluted (loss) income per common share - weighted average shares	219,394,245	212,108,079	216,317,746	212,106,718
(Loss) income per common share - basic and diluted	$ 0	$ 0.01	$ (0.02)	$ (0.06)

Earnings Per Share - Summary 89

Earnings Per Share - Summary of Computation of Earnings Per Share (Parenthetical) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Effect of dilutive securities excluded from computation of earning per share	46,930	53,360	49,854	53,252

Related Party - Additional Info

Related Party - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)ft²	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)ft²	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Due to affiliates	$ 27,299,000		$ 27,299,000		$ 27,299,000
Interest Expense, Related Party	43,000	$ 32,000	112,000	$ 101,000
Fee and other income	10,321,000	6,851,000	37,986,000	16,294,000
Accounts and other receivables	12,185,000		12,185,000		$ 10,844,000
Acquisition and transaction related costs	$ 282,000	485,000	$ 1,725,000	9,832,000
Area of office properties | ft²	10,400,000		10,400,000
712 Fifth Avenue [Member]
Related Party Transaction [Line Items]
Equity method ownership percentage	50.00%		50.00%
Management Agreements [Member]
Related Party Transaction [Line Items]
Fee and other income	$ 195,000	$ 314,000	$ 594,000	$ 562,000
Accounts and other receivables	80,000		80,000
CNBB-RDF Holdings, LP [Member]
Related Party Transaction [Line Items]
Due to affiliates	24,500,000		24,500,000
CNBB-RDF Holdings Otto Family [Member]
Related Party Transaction [Line Items]
Due to affiliates	2,799,000		2,799,000
Unconsolidated Joint Ventures and Real Estate Funds [Member]
Related Party Transaction [Line Items]
Accounts and other receivables	1,499,000		1,499,000
Property management, asset management, leasing and other related services fee income	$ 3,227,000		$ 7,826,000
Hamburg Trust Consulting GMBH (“HTC”) [Member]
Related Party Transaction [Line Items]
Mark-up cost percentage	10.00%		10.00%
Acquisition and transaction related costs	$ 137,000		$ 694,000
Hamburg Trust Consulting GMBH (“HTC”) [Member] | Chairman, Chief Executive Officer and President [Member]
Related Party Transaction [Line Items]
Percentage of ownership	100.00%		100.00%
Mannheim Trust [Member]
Related Party Transaction [Line Items]
Lease rental income	$ 101,000		$ 305,000
Mannheim Trust [Member] | Board of Director [Member] | 712 Fifth Avenue [Member]
Related Party Transaction [Line Items]
Area of office properties | ft²	6,790		6,790
Equity method ownership percentage	50.00%		50.00%
Notes Payable to Related Parties [Member] | CNBB-RDF Holdings, LP [Member]
Related Party Transaction [Line Items]
Maturity Date			2017-10
Note payable, fixed bearing interest rate			0.50%
Notes Payable to Related Parties [Member] | CNBB-RDF Holdings Otto Family [Member]
Related Party Transaction [Line Items]
Maturity Date			2017-10
Note payable, fixed bearing interest rate			0.50%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	9 Months Ended
	Sep. 30, 2016ft²
Other Commitments [Line Items]
Prime retail space of building	10,400,000
60 Wall Street [Member]
Other Commitments [Line Items]
Right to acquire period after completion of initial public offering	2 years
718 Fifth Avenue [Member]
Other Commitments [Line Items]
Put right exercise period after sale of interest	4 years
Put right notice period	12 months
Put right actual purchase period	5 years
712 Fifth Avenue [Member]
Other Commitments [Line Items]
Equity method ownership percentage	50.00%
Predecessor [Member] | 718 Fifth Avenue [Member]
Other Commitments [Line Items]
Percentage of tenancy-in-common interest in property	50.00%
Predecessor [Member] | 712 Fifth Avenue [Member]
Other Commitments [Line Items]
Equity method ownership percentage	50.00%
Owned by Affiliate [Member] | Predecessor [Member] | 718 Fifth Avenue [Member] | Third Party Affiliate [Member]
Other Commitments [Line Items]
Equity method ownership percentage	25.00%
Owned by Affiliate [Member] | Parent Company [Member] | Put Right Exercised [Member] | 718 Fifth Avenue [Member]
Other Commitments [Line Items]
Equity method ownership percentage	25.00%
Owned by Affiliate [Member] | Fund II and Fund III [Member] | 60 Wall Street [Member]
Other Commitments [Line Items]
Percentage of ownership in joint venture	62.30%
Owned by Affiliate [Member] | Retail Type Space [Member] | 60 Wall Street [Member]
Other Commitments [Line Items]
Prime retail space of building	1,600,000
Owned by Affiliate [Member] | Retail Type Space [Member] | Predecessor [Member] | 718 Fifth Avenue [Member]
Other Commitments [Line Items]
Prime retail space of building	19,050
Minimum | 60 Wall Street [Member]
Other Commitments [Line Items]
Percentage increase in fair market value of property based on lease amendment	1.00%

Segments Disclosure - Additiona

Segments Disclosure - Additional Information (Details)	9 Months Ended
	Sep. 30, 2016Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segments Disclosure - Schedule

Segments Disclosure - Schedule of NOI for Each Reportable Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Property-related revenues	$ 167,342	$ 165,641	$ 504,971	$ 486,480
Property-related operating expenses	(64,025)	(63,354)	(186,964)	(183,019)
NOI from unconsolidated joint ventures	3,974	4,303	12,938	12,362
NOI	107,291	106,590	330,945	315,823
New York [Member]
Segment Reporting Information [Line Items]
Property-related revenues	113,029	114,747	346,683	339,418
Property-related operating expenses	(45,748)	(45,709)	(132,428)	(131,412)
NOI from unconsolidated joint ventures	3,893	4,210	12,696	12,084
NOI	71,174	73,248	226,951	220,090
Washington, D.C. [Member]
Segment Reporting Information [Line Items]
Property-related revenues	22,229	21,117	63,689	61,341
Property-related operating expenses	(8,322)	(8,285)	(24,691)	(23,989)
NOI	13,907	12,832	38,998	37,352
San Francisco [Member]
Segment Reporting Information [Line Items]
Property-related revenues	31,441	29,156	92,762	83,820
Property-related operating expenses	(7,994)	(7,267)	(22,426)	(21,061)
NOI	23,447	21,889	70,336	62,759
Other [Member]
Segment Reporting Information [Line Items]
Property-related revenues	643	621	1,837	1,901
Property-related operating expenses	(1,961)	(2,093)	(7,419)	(6,557)
NOI from unconsolidated joint ventures	81	93	242	278
NOI	$ (1,237)	$ (1,379)	$ (5,340)	$ (4,378)

Segments Disclosure - Schedul94

Segments Disclosure - Schedule of Reconciliation of NOI to Net (Loss) Income Attributable to Common Stockholders (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
NOI	$ 107,291	$ 106,590	$ 330,945	$ 315,823
Fee income	3,976	2,085	11,568	5,400
Depreciation and amortization expense	(66,376)	(70,654)	(208,475)	(223,658)
General and administrative expenses	(13,235)	(6,666)	(39,335)	(28,412)
Acquisition and transaction related costs and transfer taxes due in connection with the sale of shares by a former joint venture partner	(282)	(485)	(1,725)	(9,832)
NOI from unconsolidated joint ventures	(3,974)	(4,303)	(12,938)	(12,362)
Income from unconsolidated joint ventures	1,792	1,458	5,291	4,444
Income from real estate fund investments		10,933		30,226
Loss from unconsolidated real estate funds	(1,254)		(2,540)
Interest and other income (loss), net	2,299	(1,763)	5,029	(397)
Interest and debt expense	(38,278)	(42,821)	(113,406)	(126,945)
Unrealized gain on interest rate swaps	12,728	15,772	29,661	49,497
Net income before income taxes	4,687	10,146	4,075	3,784
Income tax (expense) benefit	(218)	(789)	817	(2,706)
Net income	4,469	9,357	4,892	1,078
Consolidated real estate funds	67	(7,936)	819	(16,677)
Consolidated joint ventures	(4,703)	(33)	(10,062)	(964)
Operating Partnership	28	(272)	906	3,239
Net (loss) income attributable to common stockholders	(139)	1,116	(3,445)	(13,324)
Deal Cost [Member]
Segment Reporting Information [Line Items]
Acquisition and transaction related costs and transfer taxes due in connection with the sale of shares by a former joint venture partner	$ (282)	$ (485)	$ (1,725)	(3,960)
Transfer Taxes [Member]
Segment Reporting Information [Line Items]
Acquisition and transaction related costs and transfer taxes due in connection with the sale of shares by a former joint venture partner				$ (5,872)

Segments Disclosure - Schedul95

Segments Disclosure - Schedule of Selected Balance Sheet Data for Each Reportable Segments Information (Details) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total assets	[1]	$ 8,340,048	$ 8,775,229
Total liabilities	[1]	3,477,758	3,464,679
Total equity		4,862,290	$ 5,310,550	$ 5,534,866	$ 5,554,953
New York [Member]
Segment Reporting Information [Line Items]
Total assets		5,621,258
Total liabilities		1,936,170
Total equity		3,685,088
Washington, D.C. [Member]
Segment Reporting Information [Line Items]
Total assets		1,065,587
Total liabilities		406,449
Total equity		659,138
San Francisco [Member]
Segment Reporting Information [Line Items]
Total assets		1,366,539
Total liabilities		970,826
Total equity		395,713
Other [Member]
Segment Reporting Information [Line Items]
Total assets		286,664
Total liabilities		164,313
Total equity		$ 122,351
[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 83.0%. As of September 30, 2016, the assets and liabilities of the Operating Partnership include $1,499,909 and $976,505 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities.

Subsequent Events - Additional

Subsequent Events - Additional Information (Details)	Oct. 07, 2016USD ($)ft²	Oct. 06, 2016USD ($)ft²	May 03, 2016USD ($)	Sep. 30, 2016USD ($)ft²	Sep. 30, 2015USD ($)
Subsequent Event [Line Items]
Area of office properties | ft²				10,400,000
Notes and mortgages payable, interest rate				4.60%
Repayment of mortgage loan				$ 414,564,000	$ 1,024,000
Payment of swap breakage costs			$ 21,972,000
1301 Avenue of Americas [Member]
Subsequent Event [Line Items]
Maturity date of debt				2021-10
1301 Avenue of Americas [Member] | London Interbank Offered Rate (LIBOR) | Tranche B [Member]
Subsequent Event [Line Items]
Debt instrument basis spread on variable rate, description				$350,000,000 tranche at a floating rate of LIBOR plus 180 basis points (2.36% at closing).
900 Third Avenue [Member]
Subsequent Event [Line Items]
Maturity date of debt				2017-11
Notes and mortgages payable, interest rate				4.26%
900 Third Avenue [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Subsequent Event [Line Items]
Maturity date of debt				2017-11
Notes and mortgages payable, interest rate				5.98%
Waterview [Member]
Subsequent Event [Line Items]
Maturity date of debt				2017-06
Waterview [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Subsequent Event [Line Items]
Maturity date of debt				2017-06
Notes and mortgages payable, interest rate				5.76%
Subsequent Event [Member] | 1301 Avenue of Americas [Member]
Subsequent Event [Line Items]
Mortgage financing amount		$ 850,000,000
Area of office properties | ft²		1,800,000
Debt instrument term of notes		5 years
Notes and mortgages payable, interest rate		2.77%
Proceeds after repayment of existing loan		$ 827,187,000
Subsequent Event [Member] | 1301 Avenue of Americas [Member] | Tranche A [Member]
Subsequent Event [Line Items]
Mortgage financing amount		500,000,000
Subsequent Event [Member] | 1301 Avenue of Americas [Member] | Tranche B [Member]
Subsequent Event [Line Items]
Mortgage financing amount		$ 350,000,000
Subsequent Event [Member] | 1301 Avenue of Americas [Member] | London Interbank Offered Rate (LIBOR) | Tranche B [Member]
Subsequent Event [Line Items]
Notes and mortgages payable, interest rate		2.36%
Debt instrument basis spread on variable rate		1.80%
Subsequent Event [Member] | 1301 Avenue of Americas [Member] | Mortgages and Notes Payable with Fixed Rate [Member] | Tranche A [Member]
Subsequent Event [Line Items]
Notes and mortgages payable, interest rate		3.05%
Subsequent Event [Member] | 900 Third Avenue [Member]
Subsequent Event [Line Items]
Area of office properties | ft²		596,270
Notes and mortgages payable, interest rate		4.26%
Repayment of mortgage loan		$ 274,337,000
Payment of swap breakage costs		$ 7,729,000
Subsequent Event [Member] | Waterview [Member]
Subsequent Event [Line Items]
Area of office properties | ft²	647,243
Repayment of mortgage loan	$ 210,000,000
Defeasance costs incurred with relation to repayment	$ 4,734,000
Subsequent Event [Member] | Waterview [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Subsequent Event [Line Items]
Notes and mortgages payable, interest rate	5.76%