Paramount (PGRE) 10-Q 3 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 14, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
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		238,768,520

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Real estate, at cost
Land		$ 2,068,409	$ 2,091,535
Buildings and improvements		5,726,499	5,757,558
Rental property, at cost		7,794,908	7,849,093
Accumulated depreciation and amortization		(397,972)	(318,161)
Real estate, net		7,396,936	7,530,932
Cash and cash equivalents		254,763	162,965
Restricted cash		42,384	29,374
Investments in unconsolidated joint ventures		45,644	6,411
Investments in unconsolidated real estate funds		22,001	28,173
Preferred equity investments		55,300	55,051
Marketable securities		21,564	22,393
Accounts and other receivables, net of allowance of $232 and $202		12,032	15,251
Deferred rent receivable		196,799	163,695
Deferred charges, net of accumulated amortization of $14,220 and $9,832		80,352	71,184
Intangible assets, net of accumulated amortization of $173,087 and $166,841		363,523	412,225
Assets held for sale			346,685
Other assets		26,205	22,829
Total assets	[1]	8,517,503	8,867,168
LIABILITIES AND EQUITY
Notes and mortgages payable, net of deferred financing costs of $46,255 and $43,281		3,308,845	3,364,898
Revolving credit facility			230,000
Due to affiliates		27,299	27,299
Accounts payable and accrued expenses		83,334	103,896
Dividends and distributions payable		25,211	25,151
Deferred income taxes		1,283	1,467
Interest rate swap liabilities		1,819	22,446
Intangible liabilities, net of accumulated amortization of $63,845 and $55,349		133,748	153,018
Other liabilities		50,053	53,046
Total liabilities	[1]	3,631,592	3,981,221
Commitments and contingencies
Paramount Group, Inc. equity:
Common stock $0.01 par value per share; authorized 900,000,000 shares; issued and outstanding 238,283,591 and 230,015,356 shares in 2017 and 2016, respectively		2,382	2,300
Additional paid-in-capital		4,254,386	4,116,987
Earnings less than distributions		(71,037)	(129,654)
Accumulated other comprehensive income		143	372
Paramount Group, Inc. equity		4,185,874	3,990,005
Noncontrolling interests in:
Consolidated joint ventures		229,133	253,788
Consolidated real estate fund		14,833	64,793
Operating Partnership (26,771,872 and 34,511,214 units outstanding)		456,071	577,361
Total equity		4,885,911	4,885,947
Total liabilities and equity		$ 8,517,503	$ 8,867,168
[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 89.9% as of June 30, 2017. The assets and liabilities of the Operating Partnership, as of June 30, 2017, include $1,466,918 and $1,026,938 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		6 Months Ended
		Jun. 30, 2017	Dec. 31, 2016
Accounts and other receivables, allowance		$ 232	$ 202
Deferred charges, accumulated amortization		14,220	9,832
Intangible assets, accumulated amortization		173,087	166,841
Notes and mortgages payable, deferred financing costs		46,255	43,281
Intangible liabilities, accumulated amortization		$ 63,845	$ 55,349
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized		900,000,000	900,000,000
Common stock, shares issued		238,283,591	230,015,356
Common stock, shares outstanding		238,283,591	230,015,356
Operating partnership, units outstanding		26,771,872	34,511,214
Percentage of ownership in operating partnership		89.90%
Total assets	[1]	$ 8,517,503	$ 8,867,168
Total liabilities	[1]	$ 3,631,592	3,981,221
Variable Interest Entities [Member]
Percentage of ownership in operating partnership		89.90%
Total assets		$ 1,466,918	1,514,292
Total liabilities		$ 1,026,938	$ 970,473
[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 89.9% as of June 30, 2017. The assets and liabilities of the Operating Partnership, as of June 30, 2017, include $1,466,918 and $1,026,938 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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
REVENUES:
Rental income	$ 158,187	$ 155,181	$ 313,577	$ 296,433
Tenant reimbursement income	11,856	10,334	24,708	21,123
Fee and other income	7,661	6,788	20,655	27,665
Total revenues	177,704	172,303	358,940	345,221
EXPENSES:
Operating	63,461	59,994	129,432	122,939
Depreciation and amortization	68,636	67,287	131,628	142,099
General and administrative	16,573	12,139	30,154	26,100
Transaction related costs	502	508	777	1,443
Total expenses	149,172	139,928	291,991	292,581
Operating income	28,532	32,375	66,949	52,640
Income from unconsolidated joint ventures	16,535	2,003	18,472	3,499
Loss from unconsolidated real estate funds	(2,411)	(960)	(2,123)	(1,286)
Interest and other income, net	2,486	1,030	5,686	2,730
Interest and debt expense	(34,817)	(38,009)	(71,835)	(75,128)
Debt breakage costs	(5,162)		(7,877)
Gain on sale of real estate	133,989		133,989
Unrealized gain on interest rate swaps		10,073	1,802	16,933
Net income (loss) before income taxes	139,152	6,512	145,063	(612)
Income tax (expense) benefit	970	(1,398)	5,252	(1,035)
Net income	138,182	7,910	139,811	423
Less net (income) loss attributable to noncontrolling interests in:
Consolidated joint ventures	(1,897)	(4,107)	(3,188)	(5,359)
Consolidated real estate fund	(20,169)	78	(20,081)	752
Operating Partnership	(13,100)	(693)	(13,154)	878
Net income (loss) attributable to common stockholders	$ 103,016	$ 3,188	$ 103,388	$ (3,306)
INCOME (LOSS) PER COMMON SHARE - BASIC:
Income (loss) per common share	$ 0.44	$ 0.01	$ 0.44	$ (0.02)
Weighted average shares outstanding	234,990,468	217,121,592	232,968,602	214,762,593
INCOME (LOSS) PER COMMON SHARE - DILUTED:
Income (loss) per common share	$ 0.44	$ 0.01	$ 0.44	$ (0.02)
Weighted average shares outstanding	235,010,830	217,137,557	232,995,822	214,762,593
DIVIDENDS PER COMMON SHARE	$ 0.095	$ 0.095	$ 0.190	$ 0.190

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 138,182	$ 7,910	$ 139,811	$ 423
Other comprehensive income (loss):
Change in value of interest rate swaps	(4,041)	(11,747)	(9)	(41,614)
Pro rata share of other comprehensive income (loss) of unconsolidated joint ventures	35	(44)	(187)	63
Comprehensive income (loss)	134,176	(3,881)	139,615	(41,128)
Less comprehensive (income) loss attributable to noncontrolling interests in:
Consolidated joint ventures	(1,897)	(4,107)	(3,188)	(5,359)
Consolidated real estate fund	(20,169)	78	(20,081)	752
Operating Partnership	(12,647)	1,415	(13,187)	8,774
Comprehensive income (loss) attributable to common stockholders	$ 99,463	$ (6,495)	$ 103,159	$ (36,961)

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 Distributions [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]Consolidated Joint Ventures [Member]	Noncontrolling Interest [Member]Consolidated Real Estate Funds [Member]	Noncontrolling Interest [Member]Operating Partnership [Member]
Beginning balance (Scenario, Previously Reported) at Dec. 31, 2015	$ 5,310,550	$ 2,122	$ 3,802,858	$ (36,120)	$ (7,843)	$ 236,849	$ 414,637	$ 898,047
Beginning balance (Scenario, Adjustment, Deconsolidation of real estate fund investments upon adoption of ASU 2015-02) at Dec. 31, 2015	(351,035)						(351,035)
Beginning balance at Dec. 31, 2015	4,959,515	$ 2,122	3,802,858	(36,120)	(7,843)	236,849	63,602	898,047
Common Stock Shares Outstanding (Scenario, Previously Reported) at Dec. 31, 2015		212,112,000
Common Stock Shares Outstanding at Dec. 31, 2015		212,112,000
Net income (loss)	423			(3,306)		5,359	(752)	(878)
Common shares issued upon redemption of common units		$ 73	124,006
Redemption of minority interest in operating partnerships								(124,079)
Common shares issued upon redemption of common units		7,277,000
Common shares issued under Omnibus share plan, net of shares withheld for taxes		101,000
Dividends and distributions	(50,298)			(41,090)				(9,208)
Distributions to noncontrolling interests	(1,740)					(1,740)
Change in value of interest rate swaps	(41,614)				(33,705)			(7,909)
Pro rata share of other comprehensive income (loss) of unconsolidated joint ventures	63				50			13
Amortization of equity awards	6,719		1,175					5,544
Other	(125)		(167)	20		15	7
Ending balance at Jun. 30, 2016	4,872,943	$ 2,195	3,927,872	(80,496)	(41,498)	240,483	62,857	761,530
Common stock, shares outstanding at Jun. 30, 2016		219,490,000
Beginning balance at Dec. 31, 2016	$ 4,885,947	$ 2,300	4,116,987	(129,654)	372	253,788	64,793	577,361
Common Stock Shares Outstanding at Dec. 31, 2016	230,015,356	230,015,000
Net income (loss)	$ 139,811			103,388		3,188	20,081	13,154
Common shares issued upon redemption of common units		$ 82	135,877
Redemption of minority interest in operating partnerships								(135,959)
Common shares issued upon redemption of common units		8,207,000
Common units issued under Omnibus share plan, net of shares withheld for taxes	(154)			(154)
Common shares issued under Omnibus share plan, net of shares withheld for taxes		62,000
Dividends and distributions	(50,418)			(44,617)				(5,801)
Contributions from noncontrolling interests	9,278					4,973	4,305
Distributions to noncontrolling interests	(107,162)					(32,816)	(74,346)
Change in value of interest rate swaps	(9)				(67)			58
Pro rata share of other comprehensive income (loss) of unconsolidated joint ventures	(187)				(162)			(25)
Amortization of equity awards	8,805		1,522					7,283
Ending balance at Jun. 30, 2017	$ 4,885,911	$ 2,382	$ 4,254,386	$ (71,037)	$ 143	$ 229,133	$ 14,833	$ 456,071
Common stock, shares outstanding at Jun. 30, 2017	238,283,591	238,284,000

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement Of Stockholders Equity [Abstract]
Dividends and distributions, Per share and unit	$ 0.095	$ 0.095	$ 0.190	$ 0.190

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 139,811	$ 423
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	131,628	142,099
Amortization of deferred financing costs	5,548	2,663
Gain on sale of real estate	(133,989)
Straight-lining of rental income	(32,121)	(44,542)
Amortization of above and below-market leases, net	(10,989)	(3,481)
Debt breakage costs	7,877
Unrealized gain on interest rate swaps	(1,802)	(16,933)
Realized and unrealized (gains) losses on marketable securities	(2,486)	312
Income from unconsolidated joint ventures	(18,472)	(3,499)
Distributions of earnings from unconsolidated joint ventures	2,758	4,864
Loss from unconsolidated real estate funds	2,123	1,286
Distributions of earnings from unconsolidated real estate funds	146	200
Amortization of stock-based compensation expense	7,867	6,183
Other non-cash adjustments	(26)	957
Changes in operating assets and liabilities:
Accounts and other receivables	3,102	(165)
Deferred charges	(14,297)	(7,165)
Other assets	7,294	(4,942)
Accounts payable and accrued expenses	(15,257)	54,937
Deferred income taxes	(143)	(2,287)
Other liabilities	3,420	1,066
Net cash provided by operating activities	81,992	131,976
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of real estate	540,333
Additions to real estate	(33,079)	(73,840)
Investments in unconsolidated joint ventures	(28,791)
Distributions of capital from unconsolidated joint ventures	20,000
Deposit on real estate	(12,914)
Changes in restricted cash	(12,697)	12,512
Distributions of capital from unconsolidated real estate funds	3,845
Contributions of capital to unconsolidated real estate funds	(584)
Net cash provided by (used in) investing activities	476,113	(61,328)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of notes and mortgages payable	(1,044,821)	(414,202)
Proceeds from notes and mortgages payable	991,556	506,627
Repayment of borrowings under revolving credit facility	(290,000)	(60,000)
Borrowings under revolving credit facility	60,000	60,000
Distributions to noncontrolling interests	(107,162)	(1,740)
Dividends paid to common stockholders	(43,832)	(40,390)
Settlement of interest rate swap liabilities	(19,425)	(16,040)
Contributions from noncontrolling interests	9,278
Debt breakage costs	(7,877)
Debt issuance costs	(7,344)	(6,487)
Distributions paid to common unitholders	(6,526)	(9,824)
Repurchase of shares related to stock compensation agreements and related tax withholdings	(154)
Net cash (used in) provided by financing activities	(466,307)	17,944
Net increase in cash and cash equivalents	91,798	88,592
Cash and cash equivalents at beginning of period	162,965	143,884
Decrease in cash due to deconsolidation of real estate fund investments		(7,987)
Cash and cash equivalents at end of period	254,763	224,489
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash payments for interest	73,817	68,957
Cash payments for income taxes, net of refunds	3,191	1,319
NON-CASH TRANSACTIONS:
Common shares issued upon redemption of common units	135,959	124,079
Dividends and distributions declared but not yet paid	25,211	25,151
Write-off of fully amortized and/or depreciated assets	4,930	5,379
Additions to real estate included in accounts payable and accrued expenses	8,988	10,678
(Sales) purchases of marketable securities resulting in an (increase) decrease to restricted cash	(3,313)	268
Change in fair value of interest rate swaps	9	41,614
(Decrease) increase due to deconsolidation of 75 Howard:
Investments in unconsolidated joint ventures	14,915
Real estate, net	$ (14,915)
(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)

Organization and Business

Organization and Business	6 Months Ended
	Jun. 30, 2017
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. As of June 30, 2017, our portfolio consisted of 13 Class A office properties aggregating approximately 11.8 million square feet. 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 89.9% of, the Operating Partnership as of June 30, 2017.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
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 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, 2016, 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 six months ended June 30, 2017, are not necessarily indicative of the operating results for the full year. Significant Accounting Policies There are no material changes to our significant accounting policies as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2016. Recently Issued Accounting Literature In May 2014, the Financial Accounting Standard’s Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, an update to ASC Topic 606, Revenue from Contracts with Customers In February 2016, the FASB issued ASU 2016-02, an update to ASC Topic 842, Leases. In March 2016, the FASB issued ASU 2016-09, an update to ASC Topic 718, Compensation – Stock Compensation. In June 2016, the FASB issued ASU 2016-13, an update to ASC Topic 326 , Financial Instruments – Credit Losses. In August 2016, the FASB issued ASU 2016-15, an update to ASC Topic 230, Statement of Cash Flows In October 2016, the FASB issued ASU 2016-17, an update to ASC Topic 810, Consolidation a reporting entity to consider only its proportionate indirect interest in the VIE held through a common control party in evaluating whether it is the primary beneficiary of a VIE. Currently, ASU 2015-02 requires the reporting entity to treat the common control party’s interest in the VIE as if the reporting entity held the interest itself. In November 2016, the FASB issued ASU 2016-18, an update to ASC Topic 230, Statement of Cash Flows classification and presentation of changes in restricted cash on the statement of cash flows entity’s reconciliation of the beginning-of-period and end-of-period total amounts shown on the statement of cash flows to include restricted cash with cash and cash equivalents. In January 2017, the FASB issued ASU 2017-01, an update to ASC Topic 805, Business Combinations. In February 2017, the FASB issued ASU 2017-05, an update to ASC Topic 610, Other Income. ASU 2017-05 clarifies the scope and accounting for derecognition of a nonfinancial asset and eliminates the guidance in ASC 360-20 specific to real estate sales and partial sales. ASU 2017-05 requires an entity that transfers control of a nonfinancial asset to measure any noncontrolling interest it retains (or receives) at fair value. ASU 2017-05 is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017, with early adoption permitted for entities concurrently early adopting ASU 2014-09. We plan to adopt the provisions of ASU 2017-05 on January 1, 2018, using the modified retrospective approach. Upon adoption, we anticipate recording an adjustment to “investments in unconsolidated joint ventures” relating to the measurement of our consolidated Residential Development Fund’s (“RDF”) retained interest in 75 Howard Street, a fully-entitled residential condominium land parcel (“75 Howard”) at fair value. See Note 4, Investments in Unconsolidated Joint Ventures In May 2017, the FASB issued ASU 2017-09, an update to ASC Topic 718, Compensation – Stock Compensation.

Dispositions

Dispositions	6 Months Ended
	Jun. 30, 2017
Assets Of Disposal Group Including Discontinued Operation [Abstract]
Dispositions	3. Dispositions Waterview On May 3, 2017, we completed the sale of Waterview, a 636,768 square foot, Class A office building in Rosslyn, Virginia for $460,000,000 and recognized a net gain of $110,583,000, which is included as a component of “gain on sale of real estate” on our consolidated statements of income for the three and six months June 30, 2017. The following table sets forth the details of the assets of Waterview that were classified as held-for-sale as of December 31, 2016. (Amounts in thousands) Land $ 78,300 Building and improvements, net 251,671 Deferred charges 14,512 Deferred rent receivable 2,202 Assets held for sale $ 346,685

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	6 Months Ended
	Jun. 30, 2017
Equity Method Investments And Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	4. Investments in Unconsolidated Joint Ventures On January 24, 2017, a joint venture in which we have a 5.0% ownership interest, acquired 60 Wall Street, a 1.6 million square foot office tower in Manhattan, for $1.04 billion from certain of our real estate funds (see Note 5, Real Estate Fund Investments Prior to May 5, 2017, our consolidated Residential Development Fund (“RDF”), owned 100% of the equity interests in 75 Howard Street, a fully-entitled residential condominium land parcel (“75 Howard”) in San Francisco, California. On May 5, 2017, RDF sold 80.0% of the equity interest in 75 Howard for $88,000,000 and recognized a $23,406,000 net gain on sale, of which our share, net of income taxes, was $1,661,000. Subsequent to the sale, RDF deconsolidated its investment in 75 Howard and began accounting for the remaining 20.0% under the equity method of accounting, however, we continue to consolidate our interest in RDF. We now have a 7.4% ownership interest in RDF; accordingly, our economic interest in 75 Howard is 1.5%. The following tables summarize our investments in unconsolidated joint ventures as of June 30, 2017 and December 31, 2016 and income from these investments for the three and six months ended June 30, 2017 and 2016. (Amounts in thousands) Paramount As of Our Share of Investments: Ownership June 30, 2017 December 31, 2016 712 Fifth Avenue 50.0% $ - (1) $ 2,912 60 Wall Street 5.0% 26,451 - 75 Howard 20.0% (2) 15,882 - Oder-Center, Germany 9.5% 3,311 3,499 Investments in unconsolidated joint ventures $ 45,644 $ 6,411 For the Three Months Ended For the Six Months Ended (Amounts in thousands) Paramount June 30, June 30, Our Share of Net Income (Loss): Ownership 2017 2016 2017 2016 712 Fifth Avenue 50.0% $ 16,504 (1) $ 1,985 $ 18,434 (1) $ 3,461 60 Wall Street 5.0% (31 ) - (36 ) - 75 Howard 20.0% (2) 33 - 33 - Oder-Center, Germany 9.5% 29 18 41 38 Income from unconsolidated joint ventures $ 16,535 $ 2,003 $ 18,472 $ 3,499 (1) On June 13, 2017, we completed a $300,000 refinancing of the property. As of June 30, 2017, the basis of our investment in the property was $4,928. On June 30, 2017, we received a $20,000 distribution for our 50.0% share of the net proceeds from the refinancing. In accordance with GAAP, because we have no further obligation to fund additional capital to the venture, we have accounted for the $15,072 distribution in excess of our basis, as income. This amount is included as a component of “income from unconsolidated joint ventures” on our consolidated statements of income for the three and six months ended June 30, 2017 (2) Represents RDF’s ownership interest in the property. We now have a 7.4% ownership interest in RDF; accordingly, our economic interest in 75 Howard is 1.5%. 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: June 30, 2017 December 31, 2016 Real estate, net $ 206,617 $ 207,632 Other assets 51,374 40,701 Total assets $ 257,991 $ 248,333 Notes and mortgages payable, net $ 295,949 $ 245,990 Other liabilities 4,447 8,783 Total liabilities 300,396 254,773 Equity (1) (42,405 ) (6,440 ) Total liabilities and equity $ 257,991 $ 248,333 (1) As of June 30, 2017, the carrying amount of our investment is greater than our share of the equity by approximately $21,202. This basis difference resulted from distributions in excess of the equity in net earnings of the property. (Amounts in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, Income Statements: 2017 2016 2017 2016 Rental income $ 12,713 $ 12,716 $ 25,658 $ 25,394 Tenant reimbursement income 1,209 893 2,517 2,009 Fee and other income 468 677 594 1,195 Total revenues 14,390 14,286 28,769 28,598 Operating expenses 6,102 5,375 12,068 10,992 Depreciation and amortization 3,075 3,043 5,995 6,051 Total expenses 9,177 8,418 18,063 17,043 Operating income 5,213 5,868 10,706 11,555 Interest and other income, net 48 19 72 33 Interest and debt expense (3,126 ) (2,752 ) (5,951 ) (5,500 ) Unrealized gain on interest rate swaps 728 834 1,896 834 Net income $ 2,863 $ 3,969 $ 6,723 $ 6,922

Real Estate Fund Investments

Real Estate Fund Investments	6 Months Ended
	Jun. 30, 2017
Real Estate Fund [Abstract]
Real Estate Fund Investments	5. Real Estate Fund Investments Unconsolidated Real Estate Funds We manage four Property Funds comprised of (i) Paramount Group Real Estate Fund II, L.P. (“Fund II”), (ii) Paramount Group Real Estate Fund III, L.P. (“Fund III”), (iii) Paramount Group Real Estate Fund VII, L.P. (“Fund VII”) and (iv) Paramount Group Real Estate Fund VII-H, L.P. (“Fund VII-H”). We also manage Paramount Group Real Estate Fund VIII L.P. (“Fund VIII”), our Alternative Investment Fund, which invests in mortgage and mezzanine loans and preferred equity investments. As of December 31, 2016, Fund II and Fund III collectively owned a 62.3% interest in 60 Wall Street, a 1.6 million square foot office tower in Manhattan. On January 24, 2017, Fund II and Fund III, together with the other investors that owned the remaining 37.7% interest, sold their interests in 60 Wall Street to a newly formed joint venture, in which we have a 5.0% ownership interest. Accordingly, beginning on January 24, 2017, we began accounting for our investment in 60 Wall Street under the equity method. See Note 4, Investments in Unconsolidated Joint Ventures The following tables summarize our investments in these unconsolidated real estate funds as of June 30, 2017 and December 31, 2016, and income or loss recognized from these investments for the three and six months ended June 30, 2017 and 2016. As of (Amounts in thousands) June 30, 2017 December 31, 2016 Our Share of Investments: Property funds $ 16,749 $ 22,811 Alternative investment fund 5,252 5,362 Investments in unconsolidated real estate funds $ 22,001 $ 28,173 For the Three Months Ended For the Six Months Ended (Amounts in thousands) June 30, June 30, Our Share of Net Loss: 2017 2016 2017 2016 Net investment income (loss) $ 71 $ (68 ) $ 124 $ (607 ) Net realized (loss) gain (5 ) - 174 - Net unrealized loss (324 ) (2,807 ) (228 ) (2,578 ) Carried interest (2,153 ) 1,915 (2,193 ) 1,899 Loss from unconsolidated real estate funds (1) $ (2,411 ) $ (960 ) $ (2,123 ) $ (1,286 ) (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. As of June 30, 2017, we own a 10.0% interest in Fund II, a 3.1% interest in Fund III, and a 7.5% interest in Fund VII, all of 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 June 30, 2017 As of December 31, 2016 Balance Sheets: Fund II Fund III Fund VII Fund II Fund III Fund VII Real estate investments $ 11,151 $ 19,669 $ 158,822 (1) $ 64,989 $ 39,376 $ 165,556 (1) Cash and cash equivalents 882 2,102 2,676 1,297 2,221 741 Other assets 115 - 97 127 - - Total assets $ 12,148 $ 21,771 $ 161,595 $ 66,413 $ 41,597 $ 166,297 Other liabilities $ 90 $ 75 $ 1,531 $ 60 $ 49 $ 1,483 Total liabilities 90 75 1,531 60 49 1,483 Equity 12,058 21,696 160,064 66,353 41,548 164,814 Total liabilities and equity $ 12,148 $ 21,771 $ 161,595 $ 66,413 $ 41,597 $ 166,297 (1) Includes $122,677 and $123,105 as of June 30, 2017 and December 31, 2016, respectively, attributable to the investment in 50 Beale Street, which was sold on July 17, 2017. See Note 22, Subsequent Events For the Three Months Ended June 30, (Amounts in thousands) 2017 2016 Income Statements: Fund II Fund III Fund VII Fund II Fund III Fund VII Investment income $ 1 $ 1 $ 777 $ 1 $ - $ - Investment expenses 82 107 560 696 86 481 Net investment (loss) income (81 ) (106 ) 217 (695 ) (86 ) (481 ) Net realized losses - - (66 ) - - - Net unrealized gains (losses) 17 (29 ) (4,456 ) (33,304 ) (11,353 ) 11,638 (Loss) income from real estate fund investments $ (64 ) $ (135 ) $ (4,305 ) $ (33,999 ) $ (11,439 ) $ 11,157 For the Six Months Ended June 30, (Amounts in thousands) 2017 2016 Income Statements: Fund II Fund III Fund VII Fund II Fund III Fund VII Investment income $ 1 $ 1,141 $ 962 $ 2 $ - $ - Investment expenses 278 117 1,036 1,383 138 1,011 Net investment (loss) income (277 ) 1,024 (74 ) (1,381 ) (138 ) (1,011 ) Net realized losses (15,201 ) (5,253 ) (66 ) - - - Net unrealized (losses) gains (4,980 ) (3,018 ) (4,321 ) (31,878 ) (10,728 ) 12,744 (Loss) income from real estate fund investments $ (20,458 ) $ (7,247 ) $ (4,461 ) $ (33,259 ) $ (10,866 ) $ 11,733

Preferred Equity Investments

Preferred Equity Investments	6 Months Ended
	Jun. 30, 2017
Schedule Of Investments [Abstract]
Preferred Equity Investments	6. Preferred Equity Investments As of June 30, 2017, we own a 24.4% interest in PGRESS Equity Holdings L.P., an entity that owns certain preferred equity investments that are consolidated into our consolidated financial statements. The following is a summary of the preferred equity investments. (Amounts in thousands, except square feet) Paramount Dividend Initial As of Preferred Equity Investment Ownership Rate Maturity June 30, 2017 December 31, 2016 470 Vanderbilt Avenue (1) 24.4% 10.3% Feb-2019 $ 35,712 $ 35,613 2 Herald Square (2) 24.4% 10.3% Apr-2017 19,588 19,438 Total preferred equity investments $ 55,300 $ 55,051 (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 had a dividend rate of 10.3%, of which 7.0% was paid and the remainder accreted to the balance of the investment. The preferred equity investment had two one-year extension options. On April 11, 2017, the partnership that owns 2 Herald Square defaulted on the obligation to extend the maturity date or redeem the preferred equity investment, together with accrued and unpaid dividends and we are currently in active negotiations with the borrower to resolve the matter.

Intangible Assets and Liabiliti

Intangible Assets and Liabilities	6 Months Ended
	Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets and Liabilities	7. Intangible Assets and Liabilities The following table summarizes our intangible assets (acquired above-market leases and acquired in-place leases) and intangible liabilities (acquired below-market leases) as of June 30, 2017 and December 31, 2016. As of (Amounts in thousands) June 30, 2017 December 31, 2016 Intangible assets: Gross amount $ 536,610 $ 579,066 Accumulated amortization (173,087 ) (166,841 ) $ 363,523 $ 412,225 Intangible liabilities: Gross amount $ 197,593 $ 208,367 Accumulated amortization (63,845 ) (55,349 ) $ 133,748 $ 153,018 Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental income of $7,981,000 and $7,100,000 for the three months ended June 30, 2017 and 2016, respectively, and $10,989,000 and $3,481,000 for the six months ended June 30, 2017 and 2016, respectively. The six months ended June 30, 2016 included $9,834,000 of expense, from the write-off of an above-market lease asset in connection with the termination of a tenant’s lease. Estimated annual amortization of acquired below-market leases, net of acquired above-market leases, for each of the five succeeding years commencing January 1, 2018 is as follows. (Amounts in thousands) 2018 $ 12,558 2019 10,775 2020 8,765 2021 4,509 2022 1,144 Amortization of acquired in-place leases (a component of depreciation and amortization expense) was $22,649,000 and $23,463,000 for the three months ended June 30, 2017 and 2016, respectively, and $40,423,000 and $54,155,000 for the six months ended June 30, 2017 and 2016, respectively. Estimated annual amortization of acquired in-place leases for each of the five succeeding years commencing January 1, 2018 is as follows. (Amounts in thousands) 2018 $ 52,556 2019 46,561 2020 39,776 2021 27,645 2022 23,031

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt	8. Debt On January 19, 2017, we completed a $975,000,000 refinancing of One Market Plaza, a 1.6 million square foot Class A office and retail property in San Francisco, California. The new seven-year interest-only loan matures in February 2024 and has a fixed rate of 4.03%. In connection therewith, we incurred $2,715,000 of prepayment costs, which is included in “debt breakage costs” on our consolidated statements of income for the six months ended June 30, 2017. The following is a summary of our outstanding debt as of June 30, 2017 and December 31, 2016. Maturity Fixed/ Interest Rate as of As of (Amounts in thousands) Date Variable Rate June 30, 2017 June 30, 2017 December 31, 2016 Notes and mortgages payable: 1633 Broadway Dec-2022 Fixed (1) 3.54 % $ 1,000,000 $ 1,000,000 Dec-2022 L + 175 bps 2.80 % 30,100 (2) 13,544 (2) 3.52 % 1,030,100 1,013,544 One Market Plaza (49.0% interest) Feb-2024 Fixed 4.03 % 975,000 860,546 n/a n/a n/a - 12,414 4.03 % 975,000 872,960 1301 Avenue of the Americas Nov-2021 Fixed 3.05 % 500,000 500,000 Nov-2021 L + 180 bps 2.86 % 350,000 350,000 2.97 % 850,000 850,000 31 West 52nd Street May-2026 Fixed 3.80 % 500,000 500,000 1899 Pennsylvania Avenue (3) n/a n/a n/a - 87,675 Liberty Place (3) n/a n/a n/a - 84,000 Total notes and mortgages payable 3.57 % 3,355,100 3,408,179 Less: deferred financing costs (46,255 ) (43,281 ) Total notes and mortgages payable, net $ 3,308,845 $ 3,364,898 Revolving Credit Facility Nov-2018 L + 125 bps n/a $ - $ 230,000 (1) Represents loan with variable interest rates that has 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) These loans were repaid on May 3, 2017. In connection with the repayment, we incurred an aggregate of $5,162 of prepayment costs, which are included in “debt breakage costs” on our consolidated statements of income for the three and six months ended June 30, 2017.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017, the fair value of the derivative obligations with such provisions aggregated $1,588,000. Interest Rate Swaps – Designated as Cash Flow Hedges As of June 30, 2017, we have interest rate swaps with an aggregate notional amount of $1.0 billion that are designated as cash flow hedges. We also have entered into a forward starting interest rate swaps with an aggregate notional amount of $400,000,000 to extend the maturity of certain swaps for an additional year. Changes in the fair value of interest rate swaps that are designated as cash flow hedges are recognized in “other comprehensive income (loss)” (outside of earnings). We recognized other comprehensive loss of $4,041,000 and $11,747,000 for the three months ended June 30, 2017 and 2016, respectively and other comprehensive loss of $9,000 and $41,614,000 for the six months ended June 30, 2017 and 2016, respectively, from the changes in the fair value of these interest rate swaps. During the next twelve months, we estimate that $4,259,000 of the amounts recognized in accumulated other comprehensive income (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 June 30, 2017 (Amounts in thousands) 1633 Broadway $ 400,000 Dec-2015 Dec-2020 1.65 % $ 730 Total interest rate swap assets designated as cash flow hedges (included in "other assets") $ 730 1633 Broadway $ 300,000 Dec-2015 Dec-2022 1.95 % $ 993 1633 Broadway 300,000 Dec-2015 Dec-2021 1.82 % 167 1633 Broadway 400,000 Dec-2020 Dec-2021 2.35 % 659 Total interest rate swap liabilities designated as cash flow hedges $ 1,819 Notional Strike Fair Value as of Property Amount Effective Date Maturity Date Rate December 31, 2016 (Amounts in thousands) 1633 Broadway $ 400,000 Dec-2020 Dec-2021 2.35 % $ 139 Total interest rate swap assets designated as cash flow hedges (included in "other assets") $ 139 1633 Broadway $ 300,000 Dec-2015 Dec-2022 1.95 % $ 828 1633 Broadway 300,000 Dec-2015 Dec-2021 1.82 % 379 1633 Broadway 400,000 Dec-2015 Dec-2020 1.65 % 12 Total interest rate swap liabilities designated as cash flow hedges $ 1,219 Interest Rate Swaps – Non-designated Hedges As of June 30, 2017, we did not have any interest rate swaps that were not designated as hedges. As of December 31, 2016, we had interest rate swap liabilities that had a fair value of $21,227,000, which were terminated on January 19, 2017 in connection with the refinancing of One Market Plaza. See Note 8, Debt

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	10. Accumulated Other Comprehensive Income (Loss) The following table sets forth changes in accumulated other comprehensive income, by component for the three and six months ended June 30, 2017 and 2016. For the Three Months Ended For the Six Months Ended June 30, June 30, (Amounts in thousands) 2017 2016 2017 2016 Amount of loss related to the effective portion of cash flow hedges recognized in other comprehensive loss (1) $ (5,345 ) $ (12,442 ) $ (4,039 ) $ (39,281 ) Amounts reclassified from accumulated other comprehensive income into interest expense (1) 1,760 2,795 3,972 5,576 Amount of income (loss) related to unconsolidated joint ventures recognized in other comprehensive loss (1) (2) 32 (35 ) (162 ) 50 Amount of gain (loss) related to the ineffective portion of cash flow hedges and amount excluded from effectiveness testing - - - - (1) (2)

Noncontrolling Interests

Noncontrolling Interests	6 Months Ended
	Jun. 30, 2017
Noncontrolling Interest [Abstract]
Noncontrolling Interests	11. Noncontrolling Interests Consolidated Joint Ventures Noncontrolling interests in consolidated joint ventures consist of equity interests held by third parties in One Market Plaza and PGRESS Equity Holdings L.P. As of June 30, 2017 and December 31, 2016, noncontrolling interests in our consolidated joint ventures aggregated $229,133,000 and $253,788,000, respectively. Consolidated Real Estate Fund Noncontrolling interests in our consolidated real estate fund consists of equity interests held by third parties in the RDF. As of June 30, 2017 and December 31, 2016, the noncontrolling interest in our consolidated real estate fund aggregated $14,833,000 and $64,793,000, respectively. Operating Partnership Noncontrolling interests in the Operating Partnership represent common units of the Operating Partnership that are held by third parties, including management, and units issued to management under equity incentive plans. Common units of the Operating Partnership may be tendered for redemption to the Operating Partnership for cash. We, at our option, may assume that obligation and pay the holder either cash or common shares on a one-for-one basis. Since the number of common shares outstanding is equal to the number of common units owned by us, the redemption value of each common unit is equal to the market value of each common share and distributions paid to each common unitholder is equivalent to dividends paid to common stockholders. As of June 30, 2017 and December 31, 2016, noncontrolling interests in the Operating Partnership on our consolidated balance sheets had a carrying amount of $456,071,000 and $577,361,000, respectively and a redemption value of $428,350,000 and $551,834,000, respectively.

Variable Interest Entities ("VI

Variable Interest Entities ("VIEs")	6 Months Ended
	Jun. 30, 2017
Variable Interest Entities [Abstract]
Variable Interest Entities ("VIEs")	12. Variable Interest Entities (“VIEs”) In the normal course of business, we are the general partner of various types of investment vehicles, which may be considered VIEs. We may, from time to time, own equity or debt securities through vehicles, each of which are considered variable interests. Our involvement in financing the operations of the VIEs is generally limited to our investments in the entity. We consolidate these entities when we are determined to be the primary beneficiary. Consolidated VIEs We are the sole general partner of, and own approximately 89.9% of, the Operating Partnership as of June 30, 2017. 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 June 30, 2017 and December 31, 2016, the Operating Partnership held variable interests in the entities owning a real estate fund, preferred equity investments and a property 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) June 30, 2017 December 31, 2016 Real estate, net $ 1,258,156 $ 1,336,810 Cash and restricted cash 41,587 17,054 Investment in unconsolidated joint venture 15,881 - Preferred equity investments 55,300 55,051 Accounts and other receivables 681 5,966 Deferred rent receivable 40,821 32,103 Deferred charges, net 7,737 695 Intangible assets, net 45,803 52,139 Other assets 952 14,474 Total VIE assets $ 1,466,918 $ 1,514,292 Notes and mortgages payable, net $ 968,089 $ 872,960 Accounts payable and other accrued expenses 16,082 21,077 Intangible liabilities, net 42,645 48,654 Interest rate swap liabilities - 21,227 Other liabilities 122 6,555 Total VIE liabilities $ 1,026,938 $ 970,473 Unconsolidated VIEs As of June 30, 2017, the Operating Partnership held variable interests in entities that own certain real estate funds that were deemed to be VIEs. The table below summarizes our investments in these unconsolidated real estate funds. As of June 30, 2017 Asset Management Fees Maximum (Amounts in thousands) Investments and Other Receivables Risk of Loss Unconsolidated real estate funds $ 22,001 $ 1,524 $ 23,525

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	13. 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) and interest rate swaps. The table below aggregates the fair values of these financial assets and liabilities as of June 30, 2017 and December 31, 2016, based on their levels in the fair value hierarchy. As of June 30, 2017 (Amounts in thousands) Total Level 1 Level 2 Level 3 Marketable securities $ 21,564 $ 21,564 $ - $ - Interest rate swap assets (included in "other assets") 730 - 730 - Total assets $ 22,294 $ 21,564 $ 730 $ - Interest rate swap liabilities $ 1,819 $ - $ 1,819 $ - Total liabilities $ 1,819 $ - $ 1,819 $ - As of December 31, 2016 (Amounts in thousands) Total Level 1 Level 2 Level 3 Marketable securities $ 22,393 $ 22,393 $ - $ - Interest rate swap assets (included in "other assets") 139 - 139 - Total assets $ 22,532 $ 22,393 $ 139 $ - Interest rate swap liabilities $ 22,446 $ - $ 22,446 $ - Total liabilities $ 22,446 $ - $ 22,446 $ - 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 preferred equity investments. Estimates of the fair value of these investments are determined by the standard practice of modeling the contractual cash flows required under the investment and discounting it back to its present value at the appropriate current risk adjusted interest rate. The preferred equity investments are classified as Level 3. 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 June 30, 2017 and December 31, 2016. As of June 30, 2017 As of December 31, 2016 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Preferred equity investments $ 55,300 $ 55,614 $ 55,051 $ 55,300 Total assets $ 55,300 $ 55,614 $ 55,051 $ 55,300 As of June 30, 2017 As of December 31, 2016 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Notes and mortgages payable $ 3,355,100 $ 3,347,070 $ 3,408,179 $ 3,371,262 Revolving credit facility - - 230,000 230,018 Total liabilities $ 3,355,100 $ 3,347,070 $ 3,638,179 $ 3,601,280

Fee and Other Income

Fee and Other Income	6 Months Ended
	Jun. 30, 2017
Fee And Other Income [Abstract]
Fee and Other Income	14. Fee and Other Income The following table sets forth the details of our fee and other income. For the Three Months Ended June 30, For the Six Months Ended June 30, (Amounts in thousands) 2017 2016 2017 2016 Fee income Property management $ 1,532 $ 1,539 $ 3,142 $ 3,060 Asset management 2,359 1,783 4,625 3,497 Acquisition and disposition 250 590 5,570 590 Other 307 263 667 445 Total fee income 4,448 4,175 14,004 7,592 Lease termination income 895 93 961 11,048 (1) Other income (2) 2,318 2,520 5,690 9,025 Total fee and other income $ 7,661 $ 6,788 $ 20,655 $ 27,665 (1) Includes $10,861 from the termination of a lease with a tenant at 1633 Broadway. (2) Primarily comprised of income from tenant requested services, including overtime heating and cooling.

Interest and Other Income, net

Interest and Other Income, net	6 Months Ended
	Jun. 30, 2017
Interest And Other Income [Abstract]
Interest and Other Income, net	15. Interest and Other Income, net The following table sets forth the details of interest and other income. For the Three Months Ended June 30, For the Six Months Ended June 30, (Amounts in thousands) 2017 2016 2017 2016 Preferred equity investment income (1) $ 953 $ 1,423 $ 2,366 $ 2,839 Interest and other income 511 350 596 430 Mark-to-market of investments in our deferred compensation plans (2) 1,022 (743 ) 2,724 (539 ) Total interest and other income, net $ 2,486 $ 1,030 $ 5,686 $ 2,730 (1) Represents income from our preferred equity investments in PGRESS Equity Holdings L.P., of which our 24.4% share is $232 and $347 for the three months ended June 30, 2017 and 2016, respectively, and $576 and $692 for the six months ended June 30, 2017 and 2016, respectively. See Note 6, 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	6 Months Ended
	Jun. 30, 2017
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 June 30, For the Six Months Ended June 30, (Amounts in thousands) 2017 2016 2017 2016 Interest expense $ 31,999 $ 36,604 $ 66,287 $ 72,465 Amortization of deferred financing costs 2,818 1,405 5,548 2,663 Total interest and debt expense $ 34,817 $ 38,009 $ 71,835 $ 75,128

Incentive Compensation

Incentive Compensation	6 Months Ended
	Jun. 30, 2017
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 2017 Performance Program On January 30, 2017, the Compensation Committee approved the 2017 Performance Program, a multiyear performance-based long-term equity (“LTE”) compensation program. The purpose of the 2017 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 2017 Performance Program, participants may earn awards in the form of Long Term Incentive Plan (“LTIP”) units of our Operating Partnership based on our Total Shareholder Return (“TSR”) over a three-year performance measurement period beginning on January 1, 2017 and continuing through December 31, 2019, on both an absolute basis and relative basis. 25.0% of the award is earned if we outperform a predetermined absolute TSR and the remaining 75.0% is earned if we outperform a predetermined relative TSR. Specifically, participants begin to earn awards under the 2017 Performance Program if our TSR for the performance measurement period equals or exceeds 18.0% on an absolute basis and is in the 30th percentile of the performance of the SNL Office REIT Index constituents on a relative basis, and awards will be fully earned if our TSR for the performance measurement period equals or exceeds 30.0% on an absolute basis and exceeds the 80 th If the designated performance objectives are achieved, awards earned under the 2017 Performance Program will also be subject to vesting based on continued employment with us through December 31, 2020, with 50.0% of each award vesting following the conclusion of the performance measurement period, and the remaining 50.0% vesting on December 31, 2020. The Company’s named executive officers, as defined, are required to hold earned awards for an additional one-year following vesting. The fair value of the awards granted under the 2017 Performance Program on the date of the grant was $10,520,000 and is being amortized into expense over the four-year vesting period using a graded vesting attribution method.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	18. Earnings Per Share The following table provides a summary of net income (loss) 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 Six Months Ended June 30, June 30, (Amounts in thousands, except per share amounts) 2017 2016 2017 2016 Numerator: Net income (loss) attributable to common stockholders $ 103,016 $ 3,188 $ 103,388 $ (3,306 ) Earnings allocated to unvested participating securities (59 ) (10 ) (73 ) (19 ) Numerator for income (loss) per common share - basic and diluted $ 102,957 $ 3,178 $ 103,315 $ (3,325 ) Denominator: Denominator for basic income (loss) per common share - weighted average shares 234,990 217,122 232,969 214,763 Effect of dilutive employee stock options and restricted share awards (1) 20 16 27 - Denominator for diluted income (loss) per common share - weighted average shares 235,010 217,138 232,996 214,763 Income (loss) per common share - basic and diluted $ 0.44 $ 0.01 $ 0.44 $ (0.02 ) (1) The effect of dilutive securities for the three months ended June 30, 2017 and 2016 excludes 32,317 and 49,182 weighted average share equivalents, respectively, and 34,147 and 51,252 weighted average share equivalents for the six months ended June 30, 2017 and 2016, respectively, as their effect was anti-dilutive.

Related Party

Related Party	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party	19. Related Party Due to Affiliates As of June 30, 2017 and December 31, 2016, 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) $35,000 for each of the three months ended June 30, 2017 and 2016, and $69,000 for each of the six months ended June 30, 2017 and 2016 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 $210,000 and $191,000 for the three months ended June 30, 2017 and 2016, respectively, and $412,000 and $399,000, 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 June 30, 2017, amounts owed to us under these agreements aggregated $17,000, which are included as a component of “accounts and other receivables, net” on our consolidated balance sheet. We also provide property management, asset management, leasing and other related services to our unconsolidated joint ventures and real estate funds. For the three months ended June 30, 2017 and 2016, we recognized $3,369,000 and $2,359,000, respectively, and for the six months ended June 30, 2017 and 2016, we recognized $11,775,000 and $4,599,000, respectively, of fee income in connection with these agreements. As of June 30, 2017, amounts owed to us under these agreements aggregated $2,529,000, which are included as a component of “accounts and other receivables, net” on our consolidated balance sheet. 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. For the three months ended June 30, 2017 and 2016, we incurred $134,000 and $454,000 of expense, respectively, and $170,000 and $557,000, respectively, for the six months ended in June 30, 2017 and 2016, in connection with these agreements, which is included as a component of “transaction related costs” on our consolidated statements of income. As of June 30, 2017, we owed $170,000 to HTC under this agreement, which is included as a component of “accounts payable and other accrued expenses” on our consolidated balance sheet. 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 office space at 712 Fifth Avenue, our 50.0% owned unconsolidated joint venture. The Mannheim Trust is for the benefit of Dr. Bussmann’s children. Prior to December 5, 2016, the Mannheim Trust leased 6,790 square feet. On December 5, 2016, the joint venture entered into a new lease agreement for 5,593 square feet, which became effective in January 2017. The new lease expires in April 2023. For the three months ended June 30, 2017 and 2016, we recognized $84,000 and $102,000, respectively, and $178,000 and $204,000 for the six months ended June 30, 2017 and 2016, respectively, for our share of rental income from this lease.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017, 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 September 10, 2018 with 12 months written notice and the actual purchase occurring no earlier than 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.

Segments Disclosure

Segments Disclosure	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segments Disclosure	21. Segments Disclosure Our reportable segments are separated by region based on the three regions in which we conduct our business: New York, Washington, D.C. and San Francisco. Our determination of segments is aligned with our method of internal reporting and the way our Chief Executive Officer, who is also our Chief Operating Decision Maker, makes key operating decisions, evaluates financial results and manages our business. The following tables provide NOI for each reportable segment for the three and six months ended June 30, 2017 and 2016. For the Three Months Ended June 30, 2017 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 173,256 $ 106,602 $ 18,138 $ 48,201 $ 315 Property-related operating expenses (63,461 ) (43,289 ) (6,565 ) (11,120 ) (2,487 ) NOI from unconsolidated joint ventures 4,958 4,838 - - 120 NOI (1) $ 114,753 $ 68,151 $ 11,573 $ 37,081 $ (2,052 ) For the Three Months Ended June 30, 2016 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 168,128 $ 114,351 $ 21,478 $ 31,702 $ 597 Property-related operating expenses (59,994 ) (42,543 ) (8,094 ) (7,259 ) (2,098 ) NOI from unconsolidated joint ventures 4,536 4,456 - - 80 NOI (1) $ 112,670 $ 76,264 $ 13,384 $ 24,443 $ (1,421 ) For the Six Months Ended June 30, 2017 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 344,936 $ 211,926 $ 41,925 $ 90,140 $ 945 Property-related operating expenses (129,432 ) (88,048 ) (15,489 ) (21,725 ) (4,170 ) NOI from unconsolidated joint ventures 9,781 9,591 - - 190 NOI (1) $ 225,285 $ 133,469 $ 26,436 $ 68,415 $ (3,035 ) For the Six Months Ended June 30, 2016 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 337,629 $ 233,654 $ 41,460 $ 61,321 $ 1,194 Property-related operating expenses (122,939 ) (86,680 ) (16,369 ) (14,432 ) (5,458 ) NOI from unconsolidated joint ventures 8,964 8,803 - - 161 NOI (1) $ 223,654 $ 155,777 $ 25,091 $ 46,889 $ (4,103 ) (1) Net Operating Income (“NOI”) is used to measure the operating performance of our properties. 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 income (loss) attributable to common stockholders for the three and six months ended June 30, 2017 and 2016. For the Three Months Ended For the Six Months Ended June 30, June 30, (Amounts in thousands) 2017 2016 2017 2016 NOI $ 114,753 $ 112,670 $ 225,285 $ 223,654 Add (subtract) adjustments to arrive to net income: Fee income 4,448 4,175 14,004 7,592 Depreciation and amortization expense (68,636 ) (67,287 ) (131,628 ) (142,099 ) General and administrative expenses (16,573 ) (12,139 ) (30,154 ) (26,100 ) Transaction related costs (502 ) (508 ) (777 ) (1,443 ) NOI from unconsolidated joint ventures (4,958 ) (4,536 ) (9,781 ) (8,964 ) Income from unconsolidated joint ventures 16,535 2,003 18,472 3,499 Loss from unconsolidated real estate funds (2,411 ) (960 ) (2,123 ) (1,286 ) Interest and other income, net 2,486 1,030 5,686 2,730 Interest and debt expense (34,817 ) (38,009 ) (71,835 ) (75,128 ) Debt breakage costs (5,162 ) - (7,877 ) - Gain on sale of real estate 133,989 - 133,989 - Unrealized gain on interest rate swaps - 10,073 1,802 16,933 Net income (loss) before income taxes 139,152 6,512 145,063 (612 ) Income tax (expense) benefit (970 ) 1,398 (5,252 ) 1,035 Net income 138,182 7,910 139,811 423 Less: net (income) loss attributable to noncontrolling interests in: Consolidated joint ventures (1,897 ) (4,107 ) (3,188 ) (5,359 ) Consolidated real estate fund (20,169 ) 78 (20,081 ) 752 Operating Partnership (13,100 ) (693 ) (13,154 ) 878 Net income (loss) attributable to common stockholders $ 103,016 $ 3,188 $ 103,388 $ (3,306 ) The following table provides the selected balance sheet data for each of our reportable segments as of June 30, 2017. (Amounts in thousands) As of June 30, 2017 Balance Sheet Data: Total New York Washington, D.C. San Francisco Other Total assets $ 8,517,503 $ 5,545,701 $ 706,534 $ 1,918,142 $ 347,126 Total liabilities 3,631,592 2,444,141 26,877 1,041,494 119,080 Total equity 4,885,911 3,101,560 679,657 876,648 228,046

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	22. Subsequent Events Prior to July 17, 2017, we owned a 7.2% interest in two unconsolidated real estate funds that owned 42.8% of 50 Beale Street, a 661,000 square foot Class A office building in San Francisco, California (“50 Beale”). The remaining 57.2% was owned by third party investors. Accordingly, our economic interest in 50 Beale was 3.1%. On July 17, 2017, the two real estate funds and the third party investors sold an aggregate of 62.2% of the interest in 50 Beale. In connection therewith, we acquired, through a series of transactions, a direct 13.2% interest in the property and a new joint venture, in which we have a 36.6% ownership interest, acquired the remaining 49.0% interest. Accordingly, our economic interest in the property, increased to 31.1%. The transactions valued the property at $517,500,000 and include the assumption of $228,000,000 of existing debt that matures in October 2021 and bears interest at a fixed rate of 3.65%.

Basis of Presentation and Sig31

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
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 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, 2016, 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 six months ended June 30, 2017, are not necessarily indicative of the operating results for the full year.
Significant Accounting Policies	Significant Accounting Policies There are no material changes to our significant accounting policies as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2016.
Recently Issued Accounting Literature	Recently Issued Accounting Literature In May 2014, the Financial Accounting Standard’s Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, an update to ASC Topic 606, Revenue from Contracts with Customers In February 2016, the FASB issued ASU 2016-02, an update to ASC Topic 842, Leases. In March 2016, the FASB issued ASU 2016-09, an update to ASC Topic 718, Compensation – Stock Compensation. In June 2016, the FASB issued ASU 2016-13, an update to ASC Topic 326 , Financial Instruments – Credit Losses. In August 2016, the FASB issued ASU 2016-15, an update to ASC Topic 230, Statement of Cash Flows In October 2016, the FASB issued ASU 2016-17, an update to ASC Topic 810, Consolidation a reporting entity to consider only its proportionate indirect interest in the VIE held through a common control party in evaluating whether it is the primary beneficiary of a VIE. Currently, ASU 2015-02 requires the reporting entity to treat the common control party’s interest in the VIE as if the reporting entity held the interest itself. In November 2016, the FASB issued ASU 2016-18, an update to ASC Topic 230, Statement of Cash Flows classification and presentation of changes in restricted cash on the statement of cash flows entity’s reconciliation of the beginning-of-period and end-of-period total amounts shown on the statement of cash flows to include restricted cash with cash and cash equivalents. In January 2017, the FASB issued ASU 2017-01, an update to ASC Topic 805, Business Combinations. In February 2017, the FASB issued ASU 2017-05, an update to ASC Topic 610, Other Income. ASU 2017-05 clarifies the scope and accounting for derecognition of a nonfinancial asset and eliminates the guidance in ASC 360-20 specific to real estate sales and partial sales. ASU 2017-05 requires an entity that transfers control of a nonfinancial asset to measure any noncontrolling interest it retains (or receives) at fair value. ASU 2017-05 is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017, with early adoption permitted for entities concurrently early adopting ASU 2014-09. We plan to adopt the provisions of ASU 2017-05 on January 1, 2018, using the modified retrospective approach. Upon adoption, we anticipate recording an adjustment to “investments in unconsolidated joint ventures” relating to the measurement of our consolidated Residential Development Fund’s (“RDF”) retained interest in 75 Howard Street, a fully-entitled residential condominium land parcel (“75 Howard”) at fair value. See Note 4, Investments in Unconsolidated Joint Ventures In May 2017, the FASB issued ASU 2017-09, an update to ASC Topic 718, Compensation – Stock Compensation.

Dispositions (Tables)

Dispositions (Tables)	6 Months Ended
	Jun. 30, 2017
Assets Of Disposal Group Including Discontinued Operation [Abstract]
Summary of Assets of Waterview Classified as Held For Sale	The following table sets forth the details of the assets of Waterview that were classified as held-for-sale as of December 31, 2016. (Amounts in thousands) Land $ 78,300 Building and improvements, net 251,671 Deferred charges 14,512 Deferred rent receivable 2,202 Assets held for sale $ 346,685

Investments in Unconsolidated33

Investments in Unconsolidated Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 and December 31, 2016 and income from these investments for the three and six months ended June 30, 2017 and 2016. (Amounts in thousands) Paramount As of Our Share of Investments: Ownership June 30, 2017 December 31, 2016 712 Fifth Avenue 50.0% $ - (1) $ 2,912 60 Wall Street 5.0% 26,451 - 75 Howard 20.0% (2) 15,882 - Oder-Center, Germany 9.5% 3,311 3,499 Investments in unconsolidated joint ventures $ 45,644 $ 6,411 For the Three Months Ended For the Six Months Ended (Amounts in thousands) Paramount June 30, June 30, Our Share of Net Income (Loss): Ownership 2017 2016 2017 2016 712 Fifth Avenue 50.0% $ 16,504 (1) $ 1,985 $ 18,434 (1) $ 3,461 60 Wall Street 5.0% (31 ) - (36 ) - 75 Howard 20.0% (2) 33 - 33 - Oder-Center, Germany 9.5% 29 18 41 38 Income from unconsolidated joint ventures $ 16,535 $ 2,003 $ 18,472 $ 3,499 (1) On June 13, 2017, we completed a $300,000 refinancing of the property. As of June 30, 2017, the basis of our investment in the property was $4,928. On June 30, 2017, we received a $20,000 distribution for our 50.0% share of the net proceeds from the refinancing. In accordance with GAAP, because we have no further obligation to fund additional capital to the venture, we have accounted for the $15,072 distribution in excess of our basis, as income. This amount is included as a component of “income from unconsolidated joint ventures” on our consolidated statements of income for the three and six months ended June 30, 2017 (2) Represents RDF’s ownership interest in the property. We now have a 7.4% ownership interest in RDF; accordingly, our economic interest in 75 Howard is 1.5%.
712 Fifth Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in Unconsolidated Joint Ventures	T he 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: June 30, 2017 December 31, 2016 Real estate, net $ 206,617 $ 207,632 Other assets 51,374 40,701 Total assets $ 257,991 $ 248,333 Notes and mortgages payable, net $ 295,949 $ 245,990 Other liabilities 4,447 8,783 Total liabilities 300,396 254,773 Equity (1) (42,405 ) (6,440 ) Total liabilities and equity $ 257,991 $ 248,333 (1) As of June 30, 2017, the carrying amount of our investment is greater than our share of the equity by approximately $21,202. This basis difference resulted from distributions in excess of the equity in net earnings of the property. (Amounts in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, Income Statements: 2017 2016 2017 2016 Rental income $ 12,713 $ 12,716 $ 25,658 $ 25,394 Tenant reimbursement income 1,209 893 2,517 2,009 Fee and other income 468 677 594 1,195 Total revenues 14,390 14,286 28,769 28,598 Operating expenses 6,102 5,375 12,068 10,992 Depreciation and amortization 3,075 3,043 5,995 6,051 Total expenses 9,177 8,418 18,063 17,043 Operating income 5,213 5,868 10,706 11,555 Interest and other income, net 48 19 72 33 Interest and debt expense (3,126 ) (2,752 ) (5,951 ) (5,500 ) Unrealized gain on interest rate swaps 728 834 1,896 834 Net income $ 2,863 $ 3,969 $ 6,723 $ 6,922

Real Estate Fund Investments (T

Real Estate Fund Investments (Tables)	6 Months Ended
	Jun. 30, 2017
Real Estate Investments [Abstract]
Summary of Investment in Unconsolidated Real Estate Funds and Income or Loss from Fund Investments	The following tables summarize our investments in these unconsolidated real estate funds as of June 30, 2017 and December 31, 2016, and income or loss recognized from these investments for the three and six months ended June 30, 2017 and 2016. As of (Amounts in thousands) June 30, 2017 December 31, 2016 Our Share of Investments: Property funds $ 16,749 $ 22,811 Alternative investment fund 5,252 5,362 Investments in unconsolidated real estate funds $ 22,001 $ 28,173 For the Three Months Ended For the Six Months Ended (Amounts in thousands) June 30, June 30, Our Share of Net Loss: 2017 2016 2017 2016 Net investment income (loss) $ 71 $ (68 ) $ 124 $ (607 ) Net realized (loss) gain (5 ) - 174 - Net unrealized loss (324 ) (2,807 ) (228 ) (2,578 ) Carried interest (2,153 ) 1,915 (2,193 ) 1,899 Loss from unconsolidated real estate funds (1) $ (2,411 ) $ (960 ) $ (2,123 ) $ (1,286 ) (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.
Schedule of Financial Information for Fund Investment	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 June 30, 2017 As of December 31, 2016 Balance Sheets: Fund II Fund III Fund VII Fund II Fund III Fund VII Real estate investments $ 11,151 $ 19,669 $ 158,822 (1) $ 64,989 $ 39,376 $ 165,556 (1) Cash and cash equivalents 882 2,102 2,676 1,297 2,221 741 Other assets 115 - 97 127 - - Total assets $ 12,148 $ 21,771 $ 161,595 $ 66,413 $ 41,597 $ 166,297 Other liabilities $ 90 $ 75 $ 1,531 $ 60 $ 49 $ 1,483 Total liabilities 90 75 1,531 60 49 1,483 Equity 12,058 21,696 160,064 66,353 41,548 164,814 Total liabilities and equity $ 12,148 $ 21,771 $ 161,595 $ 66,413 $ 41,597 $ 166,297 For the Three Months Ended June 30, (Amounts in thousands) 2017 2016 Income Statements: Fund II Fund III Fund VII Fund II Fund III Fund VII Investment income $ 1 $ 1 $ 777 $ 1 $ - $ - Investment expenses 82 107 560 696 86 481 Net investment (loss) income (81 ) (106 ) 217 (695 ) (86 ) (481 ) Net realized losses - - (66 ) - - - Net unrealized gains (losses) 17 (29 ) (4,456 ) (33,304 ) (11,353 ) 11,638 (Loss) income from real estate fund investments $ (64 ) $ (135 ) $ (4,305 ) $ (33,999 ) $ (11,439 ) $ 11,157 For the Six Months Ended June 30, (Amounts in thousands) 2017 2016 Income Statements: Fund II Fund III Fund VII Fund II Fund III Fund VII Investment income $ 1 $ 1,141 $ 962 $ 2 $ - $ - Investment expenses 278 117 1,036 1,383 138 1,011 Net investment (loss) income (277 ) 1,024 (74 ) (1,381 ) (138 ) (1,011 ) Net realized losses (15,201 ) (5,253 ) (66 ) - - - Net unrealized (losses) gains (4,980 ) (3,018 ) (4,321 ) (31,878 ) (10,728 ) 12,744 (Loss) income from real estate fund investments $ (20,458 ) $ (7,247 ) $ (4,461 ) $ (33,259 ) $ (10,866 ) $ 11,733

Preferred Equity Investments (T

Preferred Equity Investments (Tables)	6 Months Ended
	Jun. 30, 2017
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 Dividend Initial As of Preferred Equity Investment Ownership Rate Maturity June 30, 2017 December 31, 2016 470 Vanderbilt Avenue (1) 24.4% 10.3% Feb-2019 $ 35,712 $ 35,613 2 Herald Square (2) 24.4% 10.3% Apr-2017 19,588 19,438 Total preferred equity investments $ 55,300 $ 55,051 (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 had a dividend rate of 10.3%, of which 7.0% was paid and the remainder accreted to the balance of the investment. The preferred equity investment had two one-year extension options. On April 11, 2017, the partnership that owns 2 Herald Square defaulted on the obligation to extend the maturity date or redeem the preferred equity investment, together with accrued and unpaid dividends and we are currently in active negotiations with the borrower to resolve the matter.

Intangible Assets and Liabili36

Intangible Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2017
Summary of Intangible Assets and Liabilities	The following table summarizes our intangible assets (acquired above-market leases and acquired in-place leases) and intangible liabilities (acquired below-market leases) as of June 30, 2017 and December 31, 2016. As of (Amounts in thousands) June 30, 2017 December 31, 2016 Intangible assets: Gross amount $ 536,610 $ 579,066 Accumulated amortization (173,087 ) (166,841 ) $ 363,523 $ 412,225 Intangible liabilities: Gross amount $ 197,593 $ 208,367 Accumulated amortization (63,845 ) (55,349 ) $ 133,748 $ 153,018
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, 2018 is as follows. (Amounts in thousands) 2018 $ 12,558 2019 10,775 2020 8,765 2021 4,509 2022 1,144
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, 2018 is as follows. (Amounts in thousands) 2018 $ 52,556 2019 46,561 2020 39,776 2021 27,645 2022 23,031

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The following is a summary of our outstanding debt as of June 30, 2017 and December 31, 2016. Maturity Fixed/ Interest Rate as of As of (Amounts in thousands) Date Variable Rate June 30, 2017 June 30, 2017 December 31, 2016 Notes and mortgages payable: 1633 Broadway Dec-2022 Fixed (1) 3.54 % $ 1,000,000 $ 1,000,000 Dec-2022 L + 175 bps 2.80 % 30,100 (2) 13,544 (2) 3.52 % 1,030,100 1,013,544 One Market Plaza (49.0% interest) Feb-2024 Fixed 4.03 % 975,000 860,546 n/a n/a n/a - 12,414 4.03 % 975,000 872,960 1301 Avenue of the Americas Nov-2021 Fixed 3.05 % 500,000 500,000 Nov-2021 L + 180 bps 2.86 % 350,000 350,000 2.97 % 850,000 850,000 31 West 52nd Street May-2026 Fixed 3.80 % 500,000 500,000 1899 Pennsylvania Avenue (3) n/a n/a n/a - 87,675 Liberty Place (3) n/a n/a n/a - 84,000 Total notes and mortgages payable 3.57 % 3,355,100 3,408,179 Less: deferred financing costs (46,255 ) (43,281 ) Total notes and mortgages payable, net $ 3,308,845 $ 3,364,898 Revolving Credit Facility Nov-2018 L + 125 bps n/a $ - $ 230,000 (1) Represents loan with variable interest rates that has 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) These loans were repaid on May 3, 2017. In connection with the repayment, we incurred an aggregate of $5,162 of prepayment costs, which are included in “debt breakage costs” on our consolidated statements of income for the three and six months ended June 30, 2017.

Derivative Instruments and He38

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2017
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 designated as cash flow hedges. Notional Strike Fair Value as of Property Amount Effective Date Maturity Date Rate June 30, 2017 (Amounts in thousands) 1633 Broadway $ 400,000 Dec-2015 Dec-2020 1.65 % $ 730 Total interest rate swap assets designated as cash flow hedges (included in "other assets") $ 730 1633 Broadway $ 300,000 Dec-2015 Dec-2022 1.95 % $ 993 1633 Broadway 300,000 Dec-2015 Dec-2021 1.82 % 167 1633 Broadway 400,000 Dec-2020 Dec-2021 2.35 % 659 Total interest rate swap liabilities designated as cash flow hedges $ 1,819 Notional Strike Fair Value as of Property Amount Effective Date Maturity Date Rate December 31, 2016 (Amounts in thousands) 1633 Broadway $ 400,000 Dec-2020 Dec-2021 2.35 % $ 139 Total interest rate swap assets designated as cash flow hedges (included in "other assets") $ 139 1633 Broadway $ 300,000 Dec-2015 Dec-2022 1.95 % $ 828 1633 Broadway 300,000 Dec-2015 Dec-2021 1.82 % 379 1633 Broadway 400,000 Dec-2015 Dec-2020 1.65 % 12 Total interest rate swap liabilities designated as cash flow hedges $ 1,219

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Summary of Changes in Accumulated Other Comprehensive Income by Component	The following table sets forth changes in accumulated other comprehensive income, by component for the three and six months ended June 30, 2017 and 2016. For the Three Months Ended For the Six Months Ended June 30, June 30, (Amounts in thousands) 2017 2016 2017 2016 Amount of loss related to the effective portion of cash flow hedges recognized in other comprehensive loss (1) $ (5,345 ) $ (12,442 ) $ (4,039 ) $ (39,281 ) Amounts reclassified from accumulated other comprehensive income into interest expense (1) 1,760 2,795 3,972 5,576 Amount of income (loss) related to unconsolidated joint ventures recognized in other comprehensive loss (1) (2) 32 (35 ) (162 ) 50 Amount of gain (loss) related to the ineffective portion of cash flow hedges and amount excluded from effectiveness testing - - - - (1) (2)

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2017
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) June 30, 2017 December 31, 2016 Real estate, net $ 1,258,156 $ 1,336,810 Cash and restricted cash 41,587 17,054 Investment in unconsolidated joint venture 15,881 - Preferred equity investments 55,300 55,051 Accounts and other receivables 681 5,966 Deferred rent receivable 40,821 32,103 Deferred charges, net 7,737 695 Intangible assets, net 45,803 52,139 Other assets 952 14,474 Total VIE assets $ 1,466,918 $ 1,514,292 Notes and mortgages payable, net $ 968,089 $ 872,960 Accounts payable and other accrued expenses 16,082 21,077 Intangible liabilities, net 42,645 48,654 Interest rate swap liabilities - 21,227 Other liabilities 122 6,555 Total VIE liabilities $ 1,026,938 $ 970,473
Unconsolidated VIEs [Member]
Summary of Investments in Unconsolidated Real Estate Funds	As of June 30, 2017, the Operating Partnership held variable interests in entities that own certain real estate funds that were deemed to be VIEs. The table below summarizes our investments in these unconsolidated real estate funds. As of June 30, 2017 Asset Management Fees Maximum (Amounts in thousands) Investments and Other Receivables Risk of Loss Unconsolidated real estate funds $ 22,001 $ 1,524 $ 23,525

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
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 as of June 30, 2017 and December 31, 2016, based on their levels in the fair value hierarchy. As of June 30, 2017 (Amounts in thousands) Total Level 1 Level 2 Level 3 Marketable securities $ 21,564 $ 21,564 $ - $ - Interest rate swap assets (included in "other assets") 730 - 730 - Total assets $ 22,294 $ 21,564 $ 730 $ - Interest rate swap liabilities $ 1,819 $ - $ 1,819 $ - Total liabilities $ 1,819 $ - $ 1,819 $ - As of December 31, 2016 (Amounts in thousands) Total Level 1 Level 2 Level 3 Marketable securities $ 22,393 $ 22,393 $ - $ - Interest rate swap assets (included in "other assets") 139 - 139 - Total assets $ 22,532 $ 22,393 $ 139 $ - Interest rate swap liabilities $ 22,446 $ - $ 22,446 $ - Total liabilities $ 22,446 $ - $ 22,446 $ -
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 June 30, 2017 and December 31, 2016. As of June 30, 2017 As of December 31, 2016 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Preferred equity investments $ 55,300 $ 55,614 $ 55,051 $ 55,300 Total assets $ 55,300 $ 55,614 $ 55,051 $ 55,300 As of June 30, 2017 As of December 31, 2016 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Notes and mortgages payable $ 3,355,100 $ 3,347,070 $ 3,408,179 $ 3,371,262 Revolving credit facility - - 230,000 230,018 Total liabilities $ 3,355,100 $ 3,347,070 $ 3,638,179 $ 3,601,280

Fee and Other Income (Tables)

Fee and Other Income (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, For the Six Months Ended June 30, (Amounts in thousands) 2017 2016 2017 2016 Fee income Property management $ 1,532 $ 1,539 $ 3,142 $ 3,060 Asset management 2,359 1,783 4,625 3,497 Acquisition and disposition 250 590 5,570 590 Other 307 263 667 445 Total fee income 4,448 4,175 14,004 7,592 Lease termination income 895 93 961 11,048 (1) Other income (2) 2,318 2,520 5,690 9,025 Total fee and other income $ 7,661 $ 6,788 $ 20,655 $ 27,665 (1) Includes $10,861 from the termination of a lease with a tenant at 1633 Broadway. (2) Primarily comprised of income from tenant requested services, including overtime heating and cooling.

Interest and Other Income, net

Interest and Other Income, net (Tables)	6 Months Ended
	Jun. 30, 2017
Interest And Other Income [Abstract]
Schedule Of Interest And Other Income, net	The following table sets forth the details of interest and other income. For the Three Months Ended June 30, For the Six Months Ended June 30, (Amounts in thousands) 2017 2016 2017 2016 Preferred equity investment income (1) $ 953 $ 1,423 $ 2,366 $ 2,839 Interest and other income 511 350 596 430 Mark-to-market of investments in our deferred compensation plans (2) 1,022 (743 ) 2,724 (539 ) Total interest and other income, net $ 2,486 $ 1,030 $ 5,686 $ 2,730 (1) Represents income from our preferred equity investments in PGRESS Equity Holdings L.P., of which our 24.4% share is $232 and $347 for the three months ended June 30, 2017 and 2016, respectively, and $576 and $692 for the six months ended June 30, 2017 and 2016, respectively. See Note 6, 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)	6 Months Ended
	Jun. 30, 2017
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 June 30, For the Six Months Ended June 30, (Amounts in thousands) 2017 2016 2017 2016 Interest expense $ 31,999 $ 36,604 $ 66,287 $ 72,465 Amortization of deferred financing costs 2,818 1,405 5,548 2,663 Total interest and debt expense $ 34,817 $ 38,009 $ 71,835 $ 75,128

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Summary of Computation of Earnings Per Share	The following table provides a summary of net income (loss) 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 Six Months Ended June 30, June 30, (Amounts in thousands, except per share amounts) 2017 2016 2017 2016 Numerator: Net income (loss) attributable to common stockholders $ 103,016 $ 3,188 $ 103,388 $ (3,306 ) Earnings allocated to unvested participating securities (59 ) (10 ) (73 ) (19 ) Numerator for income (loss) per common share - basic and diluted $ 102,957 $ 3,178 $ 103,315 $ (3,325 ) Denominator: Denominator for basic income (loss) per common share - weighted average shares 234,990 217,122 232,969 214,763 Effect of dilutive employee stock options and restricted share awards (1) 20 16 27 - Denominator for diluted income (loss) per common share - weighted average shares 235,010 217,138 232,996 214,763 Income (loss) per common share - basic and diluted $ 0.44 $ 0.01 $ 0.44 $ (0.02 ) (1) The effect of dilutive securities for the three months ended June 30, 2017 and 2016 excludes 32,317 and 49,182 weighted average share equivalents, respectively, and 34,147 and 51,252 weighted average share equivalents for the six months ended June 30, 2017 and 2016, respectively, as their effect was anti-dilutive.

Segments Disclosure (Tables)

Segments Disclosure (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of NOI for Each Reportable Segment Information	The following tables provide NOI for each reportable segment for the three and six months ended June 30, 2017 and 2016. For the Three Months Ended June 30, 2017 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 173,256 $ 106,602 $ 18,138 $ 48,201 $ 315 Property-related operating expenses (63,461 ) (43,289 ) (6,565 ) (11,120 ) (2,487 ) NOI from unconsolidated joint ventures 4,958 4,838 - - 120 NOI (1) $ 114,753 $ 68,151 $ 11,573 $ 37,081 $ (2,052 ) For the Three Months Ended June 30, 2016 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 168,128 $ 114,351 $ 21,478 $ 31,702 $ 597 Property-related operating expenses (59,994 ) (42,543 ) (8,094 ) (7,259 ) (2,098 ) NOI from unconsolidated joint ventures 4,536 4,456 - - 80 NOI (1) $ 112,670 $ 76,264 $ 13,384 $ 24,443 $ (1,421 ) For the Six Months Ended June 30, 2017 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 344,936 $ 211,926 $ 41,925 $ 90,140 $ 945 Property-related operating expenses (129,432 ) (88,048 ) (15,489 ) (21,725 ) (4,170 ) NOI from unconsolidated joint ventures 9,781 9,591 - - 190 NOI (1) $ 225,285 $ 133,469 $ 26,436 $ 68,415 $ (3,035 ) For the Six Months Ended June 30, 2016 (Amounts in thousands) Total New York Washington, D.C. San Francisco Other Property-related revenues $ 337,629 $ 233,654 $ 41,460 $ 61,321 $ 1,194 Property-related operating expenses (122,939 ) (86,680 ) (16,369 ) (14,432 ) (5,458 ) NOI from unconsolidated joint ventures 8,964 8,803 - - 161 NOI (1) $ 223,654 $ 155,777 $ 25,091 $ 46,889 $ (4,103 ) (1) Net Operating Income (“NOI”) is used to measure the operating performance of our properties. 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 Income (Loss) Attributable to Common Stockholders	The following table provides a reconciliation of NOI to net income (loss) attributable to common stockholders for the three and six months ended June 30, 2017 and 2016. For the Three Months Ended For the Six Months Ended June 30, June 30, (Amounts in thousands) 2017 2016 2017 2016 NOI $ 114,753 $ 112,670 $ 225,285 $ 223,654 Add (subtract) adjustments to arrive to net income: Fee income 4,448 4,175 14,004 7,592 Depreciation and amortization expense (68,636 ) (67,287 ) (131,628 ) (142,099 ) General and administrative expenses (16,573 ) (12,139 ) (30,154 ) (26,100 ) Transaction related costs (502 ) (508 ) (777 ) (1,443 ) NOI from unconsolidated joint ventures (4,958 ) (4,536 ) (9,781 ) (8,964 ) Income from unconsolidated joint ventures 16,535 2,003 18,472 3,499 Loss from unconsolidated real estate funds (2,411 ) (960 ) (2,123 ) (1,286 ) Interest and other income, net 2,486 1,030 5,686 2,730 Interest and debt expense (34,817 ) (38,009 ) (71,835 ) (75,128 ) Debt breakage costs (5,162 ) - (7,877 ) - Gain on sale of real estate 133,989 - 133,989 - Unrealized gain on interest rate swaps - 10,073 1,802 16,933 Net income (loss) before income taxes 139,152 6,512 145,063 (612 ) Income tax (expense) benefit (970 ) 1,398 (5,252 ) 1,035 Net income 138,182 7,910 139,811 423 Less: net (income) loss attributable to noncontrolling interests in: Consolidated joint ventures (1,897 ) (4,107 ) (3,188 ) (5,359 ) Consolidated real estate fund (20,169 ) 78 (20,081 ) 752 Operating Partnership (13,100 ) (693 ) (13,154 ) 878 Net income (loss) attributable to common stockholders $ 103,016 $ 3,188 $ 103,388 $ (3,306 )
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 June 30, 2017. (Amounts in thousands) As of June 30, 2017 Balance Sheet Data: Total New York Washington, D.C. San Francisco Other Total assets $ 8,517,503 $ 5,545,701 $ 706,534 $ 1,918,142 $ 347,126 Total liabilities 3,631,592 2,444,141 26,877 1,041,494 119,080 Total equity 4,885,911 3,101,560 679,657 876,648 228,046

Organization and Business - Add

Organization and Business - Additional Information (Details) ft² in Millions	6 Months Ended
	Jun. 30, 2017ft²Properties
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of office properties | Properties	13
Area of office and retail properties | ft²	11.8
Percentage of ownership in operating partnership	89.90%

Dispositions - Additional Infor

Dispositions - Additional Information (Details)	May 03, 2017USD ($)ft²	Jun. 30, 2017ft²
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Area of office and retail properties | ft²		11,800,000
Waterview [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Area of office and retail properties | ft²	636,768
Sale agreement amount | $	$ 460,000,000
Net gain on sale of property | $	$ 110,583,000

Dispositions - Summary of Asset

Dispositions - Summary of Assets of Waterview Classified as Held For Sale (Details) $ in Thousands	Dec. 31, 2016USD ($)
Long Lived Assets Held For Sale [Line Items]
Assets held for sale	$ 346,685
Waterview [Member]
Long Lived Assets Held For Sale [Line Items]
Land	78,300
Building and improvements, net	251,671
Deferred charges	14,512
Deferred rent receivable	2,202
Assets held for sale	$ 346,685

Investments in Unconsolidated50

Investments in Unconsolidated Joint Ventures - Additional Information (Details) ft² in Millions	May 05, 2017USD ($)	Jan. 24, 2017USD ($)ft²	Jun. 30, 2017ft²	May 04, 2017	Dec. 31, 2016ft²
Schedule Of Equity Method Investments [Line Items]
Area of office and retail properties | ft²			11.8
60 Wall Street [Member]
Schedule Of Equity Method Investments [Line Items]
Property ownership, percentage		5.00%
Area of office and retail properties | ft²		1.6			1.6
Acquisition amount		$ 1,040,000,000
Mortgage financing amount		$ 575,000,000
Equity method ownership percentage			5.00%
75 Howard [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage			20.00%
75 Howard [Member] | RDF [Member]
Schedule Of Equity Method Investments [Line Items]
Property ownership, percentage				100.00%
Percentage of equity interest sold by development fund	80.00%
Proceeds from sale of equity interest, by development fund	$ 88,000,000
Gain from sale of equity interest, by development fund	23,406,000
Entity's portion of gain from sale of equity interest, net of tax	$ 1,661,000
Equity method ownership percentage	20.00%
Ownership percentage in residential fund	7.40%		7.40%
Economic interest percentage	1.50%		1.50%

Investments in Unconsolidated51

Investments in Unconsolidated Joint Ventures - Summary of Investments and Income from Investments In Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Schedule Of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures	$ 45,644		$ 45,644		$ 6,411
Income from unconsolidated joint ventures	$ 16,535	$ 2,003	$ 18,472	$ 3,499
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					2,912
Income from unconsolidated joint ventures	$ 16,504	1,985	$ 18,434	3,461
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	$ 3,311		$ 3,311		$ 3,499
Income from unconsolidated joint ventures	$ 29	$ 18	$ 41	$ 38
60 Wall Street [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	5.00%		5.00%
Investments in unconsolidated joint ventures	$ 26,451		$ 26,451
Income from unconsolidated joint ventures	$ (31)		$ (36)
75 Howard [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	20.00%		20.00%
Investments in unconsolidated joint ventures	$ 15,882		$ 15,882
Income from unconsolidated joint ventures	$ 33		$ 33

Investments in Unconsolidated52

Investments in Unconsolidated Joint Ventures - Summary of Investments and Income from Investments In Unconsolidated Joint Ventures (Parenthetical) (Details) - USD ($)	May 05, 2017	Jun. 30, 2017	Jun. 13, 2017	May 04, 2017
Schedule Of Equity Method Investments [Line Items]
Distributions of capital from unconsolidated joint ventures		$ 20,000,000
712 Fifth Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Mortgage refinancing extended amount			$ 300,000,000
Basis of investment property		4,928,000
Distributions of capital from unconsolidated joint ventures		$ 20,000,000
Property ownership, percentage		50.00%
712 Fifth Avenue [Member] | Income From Unconsolidated Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Distributions of capital from unconsolidated joint ventures		$ 15,072,000
RDF [Member] | 75 Howard [Member]
Schedule Of Equity Method Investments [Line Items]
Property ownership, percentage				100.00%
Ownership percentage in residential fund	7.40%	7.40%
Economic interest percentage	1.50%	1.50%

Investments in Unconsolidated53

Investments in Unconsolidated Joint Ventures - Summary of Financial Information (Details) - 712 Fifth Avenue [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Schedule Of Equity Method Investments [Line Items]
Real estate, net	$ 206,617		$ 206,617		$ 207,632
Other assets	51,374		51,374		40,701
Total assets	257,991		257,991		248,333
Notes and mortgages payable, net	295,949		295,949		245,990
Other liabilities	4,447		4,447		8,783
Total liabilities	300,396		300,396		254,773
Equity	(42,405)		(42,405)		(6,440)
Total liabilities and equity	257,991		257,991		$ 248,333
Rental income	12,713	$ 12,716	25,658	$ 25,394
Tenant reimbursement income	1,209	893	2,517	2,009
Fee and other income	468	677	594	1,195
Total revenues	14,390	14,286	28,769	28,598
Operating expenses	6,102	5,375	12,068	10,992
Depreciation and amortization	3,075	3,043	5,995	6,051
Total expenses	9,177	8,418	18,063	17,043
Operating income	5,213	5,868	10,706	11,555
Interest and other income, net	48	19	72	33
Interest and debt expense	(3,126)	(2,752)	(5,951)	(5,500)
Unrealized gain on interest rate swaps	728	834	1,896	834
Net income	$ 2,863	$ 3,969	$ 6,723	$ 6,922

Investments in Unconsolidated54

Investments in Unconsolidated Joint Ventures - Summary of Financial Information (Parenthetical) (Details) $ in Thousands	Jun. 30, 2017USD ($)
712 Fifth Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Difference between carrying amount of investment and equity	$ 21,202

Real Estate Fund Investments -

Real Estate Fund Investments - Additional Information (Details) - ft² ft² in Millions	Jun. 30, 2017	Jan. 24, 2017	Dec. 31, 2016
Investment Holdings [Line Items]
Area of office and retail properties	11.8
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%
60 Wall Street [Member]
Investment Holdings [Line Items]
Percentage interest in fund			62.30%
Percentage remaining interest sold		37.70%
Area of office and retail properties		1.6	1.6
Property ownership, percentage		5.00%

Real Estate Fund Investments 56

Real Estate Fund Investments - Summary of Investment in Unconsolidated Real Estate Funds and Income or Loss from Fund Investments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Our Share of Investments:
Investments in unconsolidated real estate funds	$ 22,001		$ 22,001		$ 28,173
Loss from unconsolidated real estate funds	(2,411)	$ (960)	(2,123)	$ (1,286)
Net investment income (loss) [Member]
Our Share of Investments:
Loss from unconsolidated real estate funds	71	(68)	124	(607)
Net realized (loss) gain [Member]
Our Share of Investments:
Loss from unconsolidated real estate funds	(5)		174
Net unrealized loss [Member]
Our Share of Investments:
Loss from unconsolidated real estate funds	(324)	(2,807)	(228)	(2,578)
Carried interest [Member]
Our Share of Investments:
Loss from unconsolidated real estate funds	(2,153)	$ 1,915	(2,193)	$ 1,899
Property Funds [Member]
Our Share of Investments:
Investments in unconsolidated real estate funds	16,749		16,749		22,811
Alternative Investment Fund [Member]
Our Share of Investments:
Investments in unconsolidated real estate funds	$ 5,252		$ 5,252		$ 5,362

Real Estate Fund Investments 57

Real Estate Fund Investments - Schedule of Financial Information for Fund Investment (Details) - Unconsolidated Real Estate Funds [Member] - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property Fund II [Member]
Investment Holdings [Line Items]
Real estate investments	$ 11,151	$ 64,989
Cash and cash equivalents	882	1,297
Other assets	115	127
Total assets	12,148	66,413
Other liabilities	90	60
Total liabilities	90	60
Equity	12,058	66,353
Total liabilities and equity	12,148	66,413
Property Fund III [Member]
Investment Holdings [Line Items]
Real estate investments	19,669	39,376
Cash and cash equivalents	2,102	2,221
Total assets	21,771	41,597
Other liabilities	75	49
Total liabilities	75	49
Equity	21,696	41,548
Total liabilities and equity	21,771	41,597
Property Fund VII [Member]
Investment Holdings [Line Items]
Real estate investments	158,822	165,556
Cash and cash equivalents	2,676	741
Other assets	97
Total assets	161,595	166,297
Other liabilities	1,531	1,483
Total liabilities	1,531	1,483
Equity	160,064	164,814
Total liabilities and equity	$ 161,595	$ 166,297

Real Estate Fund Investments 58

Real Estate Fund Investments - Schedule of Financial Information for Fund Investment (Parenthetical) (Details) - Unconsolidated Real Estate Funds [Member] - Property Fund VII [Member] - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Investment Holdings [Line Items]
Real estate investments	$ 158,822	$ 165,556
50 Beale Street [Member]
Investment Holdings [Line Items]
Real estate investments	$ 122,677	$ 123,105

Real Estate Fund Investments 59

Real Estate Fund Investments - Schedule of Income from Fund Investment (Details) - Unconsolidated Real Estate Funds [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Property Fund II [Member]
Investment Holdings [Line Items]
Investment income	$ 1	$ 1	$ 1	$ 2
Investment expenses	82	696	278	1,383
Net investment (loss) income	(81)	(695)	(277)	(1,381)
Net realized losses			(15,201)
Net unrealized gains (losses)	17	(33,304)	(4,980)	(31,878)
(Loss) income from real estate fund investments	(64)	(33,999)	(20,458)	(33,259)
Property Fund III [Member]
Investment Holdings [Line Items]
Investment income	1		1,141
Investment expenses	107	86	117	138
Net investment (loss) income	(106)	(86)	1,024	(138)
Net realized losses			(5,253)
Net unrealized gains (losses)	(29)	(11,353)	(3,018)	(10,728)
(Loss) income from real estate fund investments	(135)	(11,439)	(7,247)	(10,866)
Property Fund VII [Member]
Investment Holdings [Line Items]
Investment income	777		962
Investment expenses	560	481	1,036	1,011
Net investment (loss) income	217	(481)	(74)	(1,011)
Net realized losses	(66)		(66)
Net unrealized gains (losses)	(4,456)	11,638	(4,321)	12,744
(Loss) income from real estate fund investments	$ (4,305)	$ 11,157	$ (4,461)	$ 11,733

Preferred Equity Investments -

Preferred Equity Investments - Additional Information (Details)	Jun. 30, 2017
Schedule Of Investments [Abstract]
Preferred equity ownership percentage	24.40%

Preferred Equity Investments (D

Preferred Equity Investments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Investment Holdings [Line Items]
Preferred equity ownership percentage	24.40%
Preferred equity investments	$ 55,300	$ 55,051
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	$ 35,712	35,613
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	$ 19,588	$ 19,438

Preferred Equity Investments 62

Preferred Equity Investments - Parenthetical (Details) ft² in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)ft²
Schedule Of Investments [Line Items]
Area of office properties	11,800
470 Vanderbilt Avenue [Member]
Schedule Of Investments [Line Items]
Preferred equity investments, partnership amount | $	$ 33,750
Area of office properties	650
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
Preferred Equity Investments, Dividend Rate	10.30%
Preferred equity investments, dividend rate percentage paid	7.00%

Intangible Assets and Intangibl

Intangible Assets and Intangible Liabilities - Summary of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Intangible assets:
Gross amount	$ 536,610	$ 579,066
Accumulated amortization	(173,087)	(166,841)
Intangible assets, Net	363,523	412,225
Intangible liabilities:
Gross amount	197,593	208,367
Accumulated amortization	(63,845)	(55,349)
Intangible Liabilities, Net	$ 133,748	$ 153,018

Intangible Assets and Liabili64

Intangible Assets and Liabilities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Leases, Acquired-in-Place, Market Adjustment [Member]
Finite Lived Intangible Assets [Line Items]
Rental income increase	$ 7,981	$ 7,100	$ 10,989	$ 3,481
Write-off above market lease asset				9,834
Leases, Acquired-in-Place [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of acquired in-place leases	$ 22,649	$ 23,463	$ 40,423	$ 54,155

Intangible Assets and Intangi65

Intangible Assets and Intangible Liabilities - Schedule of Estimated Annual Amortization of Acquired Below-Market Leases, Net of Acquired Above-Market Leases (Details) $ in Thousands	Jun. 30, 2017USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2,018	$ 12,558
2,019	10,775
2,020	8,765
2,021	4,509
2,022	$ 1,144

Intangible Assets and Intangi66

Intangible Assets and Intangible Liabilities - Schedule of Estimated Annual Amortization of Acquired In-Place Leases (Details) - Leases, Acquired-in-Place [Member] $ in Thousands	Jun. 30, 2017USD ($)
Finite Lived Intangible Assets [Line Items]
2,018	$ 52,556
2,019	46,561
2,020	39,776
2,021	27,645
2,022	$ 23,031

Debt - Additional Information (

Debt - Additional Information (Details) ft² in Millions	Jan. 19, 2017USD ($)ft²	Jun. 30, 2017ft²
Debt Instrument [Line Items]
Area of office and retail properties | ft²		11.8
Notes and mortgages payable, interest rate		3.57%
One Market Plaza [Member]
Debt Instrument [Line Items]
Mortgage refinancing extended amount | $	$ 975,000,000
Area of office and retail properties | ft²	1.6
Debt instrument term of notes	7 years
Notes and mortgages payable, interest rate		4.03%
Prepayment cost related to mortgage loan | $	$ 2,715,000
One Market Plaza [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2024-02	2024-02
Notes and mortgages payable, interest rate	4.03%	4.03%

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Details) - USD ($) $ in Thousands	Jan. 19, 2017	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate		3.57%
Notes and mortgages payable		$ 3,355,100	$ 3,408,179
Credit Facility			230,000
Less: deferred financing costs		(46,255)	(43,281)
Total notes and mortgages payable, net		$ 3,308,845	3,364,898
Credit Facility With Variable Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date of debt		2018-11
Credit Facility			230,000
Credit Facility With Variable Rate [Member] | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Fixed/Variable Rate		1.25%
1633 Broadway [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate		3.52%
Notes and mortgages payable		$ 1,030,100	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		2.80%
Notes and mortgages payable		$ 30,100	13,544
1633 Broadway [Member] | Mortgages and Notes Payable with Variable Rate [Member] | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Fixed/Variable Rate		1.75%
One Market Plaza [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate		4.03%
Notes and mortgages payable		$ 975,000	872,960
One Market Plaza [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2024-02	2024-02
Notes and mortgages payable, Interest Rate	4.03%	4.03%
Notes and mortgages payable		$ 975,000	860,546
One Market Plaza [Member] | Mortgages and Notes Payable with Variable Rate [Member]
Debt Instrument [Line Items]
Notes and mortgages payable			12,414
1301 Avenue of Americas [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate		2.97%
Notes and mortgages payable		$ 850,000	850,000
1301 Avenue of Americas [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt		2021-11
Notes and mortgages payable, Interest Rate		3.05%
Notes and mortgages payable		$ 500,000	500,000
1301 Avenue of Americas [Member] | Mortgages and Notes Payable with Variable Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt		2021-11
Notes and mortgages payable, Interest Rate		2.86%
Notes and mortgages payable		$ 350,000	350,000
1301 Avenue of Americas [Member] | Mortgages and Notes Payable with Variable Rate [Member] | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Fixed/Variable Rate		1.80%
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%
Notes and mortgages payable		$ 500,000	500,000
1899 Pennsylvania Avenue [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Notes and mortgages payable			87,675
Liberty Place [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Notes and mortgages payable			$ 84,000

Debt - Summary of Outstanding69

Debt - Summary of Outstanding Debt (Parenthetical) (Details) - USD ($)	May 03, 2017	Jan. 19, 2017	Jun. 30, 2017
One Market Plaza [Member]
Debt Instrument [Line Items]
Ownership interest rate of property			49.00%
Prepayment cost related to mortgage loan		$ 2,715,000
1633 Broadway [Member] | Mortgages and Notes Payable with Variable Rate [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] | Mortgages and Notes Payable with Variable Rate [Member] | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Fixed/Variable Rate			1.75%
One Eight Nine Nine Pennsylvania Avenue and Liberty Place [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Prepayment cost related to mortgage loan	$ 5,162,000

Derivative Instruments and He70

Derivative Instruments and Hedging Activities - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)Derivative	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)Derivative	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Derivative [Line Items]
Fair value of derivative obligations to be settled	$ 1,588,000		$ 1,588,000
Change in value of interest rate swaps	$ (4,041,000)	$ (11,747,000)	$ (9,000)	$ (41,614,000)
Number of derivative instruments | Derivative	0		0
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Aggregate notional amount					$ 400,000,000
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Change in value of interest rate swaps	$ (4,041,000)	(11,747,000)	$ (9,000)	(41,614,000)
Estimated accumulated other comprehensive income (loss) reclassified to interest expense in the next twelve months			4,259,000
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | 1633 Broadway [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Aggregate notional amount	1,000,000,000		1,000,000,000
Designated as Hedging Instrument [Member] | Interest Rate Swap March Two Thousand Seventeen [Member] | 1633 Broadway [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Aggregate notional amount	$ 400,000,000		400,000,000
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative liability fair Value					$ 21,227,000
Unrealized gains on interest rate swaps		$ 10,073,000	$ 1,802,000	$ 16,933,000

Derivative Instruments and He71

Derivative Instruments and Hedging Activities - Summary of Outstanding Interest Rate Swaps (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Derivative [Line Items]
Interest rate swap assets	$ 730,000	$ 139,000
Interest rate swap liabilities	1,819,000	22,446,000
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Aggregate notional amount		$ 400,000,000
Effective Dates, Liabilities		2015-12
Maturity Date, Liabilities		2020-12
Strike Rate, Liabilities		1.65%
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Cash Flow Hedges [Member] | Other Assets [Member]
Derivative [Line Items]
Interest rate swap assets	730,000	$ 139,000
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Interest Rate Swap Two Thousand Fifteen to Two Thousand Twenty [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Notional Amount, Assets	$ 400,000,000
Effective Dates, Assets	2015-12
Maturity Date, Assets	2020-12
Strike Rate, Assets	1.65%
Interest rate swap assets	$ 730,000
Interest rate swap liabilities		12,000
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Interest Rate Swap Two Thousand Twenty to Two Thousand Twenty One [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Notional Amount, Assets	$ 400,000,000
Effective Dates, Assets	2020-12
Maturity Date, Assets	2021-12
Strike Rate, Assets	2.35%
Interest rate swap assets		139,000
Aggregate notional amount		$ 400,000,000
Effective Dates, Liabilities		2020-12
Maturity Date, Liabilities		2021-12
Strike Rate, Liabilities		2.35%
Interest rate swap liabilities	$ 659,000
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Interest Rate Swap Two Thousand Fifteen to Two Thousand Twenty Two [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Aggregate notional amount		$ 300,000,000
Effective Dates, Liabilities		2015-12
Maturity Date, Liabilities		2022-12
Strike Rate, Liabilities		1.95%
Interest rate swap liabilities	993,000	$ 828,000
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Interest Rate Swap Two Thousand Fifteen to Two Thousand Twenty One [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Aggregate notional amount		$ 300,000,000
Effective Dates, Liabilities		2015-12
Maturity Date, Liabilities		2021-12
Strike Rate, Liabilities		1.82%
Interest rate swap liabilities	167,000	$ 379,000
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Interest Rate Swap September Two Thousand Fifteen [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Aggregate notional amount		$ 300,000,000
Effective Dates, Liabilities		2015-12
Maturity Date, Liabilities		2022-12
Strike Rate, Liabilities		1.95%
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Interest Rate Swap November Two Thousand Fifteen [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Aggregate notional amount		$ 300,000,000
Effective Dates, Liabilities		2015-12
Maturity Date, Liabilities		2021-12
Strike Rate, Liabilities		1.82%
Designated as Hedging Instrument [Member] | 1633 Broadway [Member] | Interest Rate Swap [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Aggregate notional amount	1,000,000,000
Interest rate swap liabilities	$ 1,819,000	$ 1,219,000

Accumulated Other Comprehensi72

Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income Loss [Line Items]
Amount of loss related to the effective portion of cash flow hedges recognized in other comprehensive loss	[1]	$ (5,345,000)	$ (12,442,000)	$ (4,039,000)	$ (39,281,000)
Amounts reclassified from accumulated other comprehensive income into interest expense	[1]	1,760,000	2,795,000	3,972,000	5,576,000
Unconsolidated Joint Ventures [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Amounts reclassified from accumulated other comprehensive income into interest expense		0	0	0	0
Amount of income (loss) related to unconsolidated joint ventures recognized in other comprehensive loss	[1],[2]	$ 32,000	$ (35,000)	$ (162,000)	$ 50,000
[1]	Net of amount attributable to the noncontrolling interests in the Operating Partnership.
[2]	Balance held in accumulated other comprehensive income (loss) relates to foreign currency translation adjustments. No amounts were reclassified from accumulated other comprehensive income (loss) during any of the periods set forth above.

Accumulated Other Comprehensi73

Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income by Component (Parenthetical) (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income Loss [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	[1]	$ 1,760,000	$ 2,795,000	$ 3,972,000	$ 5,576,000
Unconsolidated Joint Ventures [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)		$ 0	$ 0	$ 0	$ 0
[1]	Net of amount attributable to the noncontrolling interests in the Operating Partnership.

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Consolidated joint ventures	$ 229,133	$ 253,788
Noncontrolling interest in consolidated real estate fund aggregated	14,833	64,793
Operating partnerships	456,071	577,361
Redemption value	$ 428,350	$ 551,834
Common units conversion basis	one-for-one

Variable Interest Entities ("75

Variable Interest Entities ("VIEs") - Additional Information (Details)	6 Months Ended
	Jun. 30, 2017
Variable Interest Entities [Abstract]
Percentage of ownership in operating partnership	89.90%

Variable Interest Entities ("76

Variable Interest Entities ("VIEs") - Summary of Assets and Liabilities of Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Real estate, net		$ 7,396,936	$ 7,530,932
Cash and restricted cash		42,384	29,374
Preferred equity investments		55,300	55,051
Accounts and other receivables		12,032	15,251
Deferred rent receivable		196,799	163,695
Deferred charges, net		80,352	71,184
Intangible assets, net		363,523	412,225
Other assets		26,205	22,829
Total assets	[1]	8,517,503	8,867,168
Notes and mortgages payable, net		3,355,100	3,408,179
Accounts payable and other accrued expenses		83,334	103,896
Intangible liabilities, net		133,748	153,018
Interest rate swap liabilities		1,819	22,446
Other liabilities		50,053	53,046
Total liabilities	[1]	3,631,592	3,981,221
Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Real estate, net		1,258,156	1,336,810
Cash and restricted cash		41,587	17,054
Investment in unconsolidated joint venture		15,881
Preferred equity investments		55,300	55,051
Accounts and other receivables		681	5,966
Deferred rent receivable		40,821	32,103
Deferred charges, net		7,737	695
Intangible assets, net		45,803	52,139
Other assets		952	14,474
Total assets		1,466,918	1,514,292
Notes and mortgages payable, net		968,089	872,960
Accounts payable and other accrued expenses		16,082	21,077
Intangible liabilities, net		42,645	48,654
Interest rate swap liabilities			21,227
Other liabilities		122	6,555
Total liabilities		$ 1,026,938	$ 970,473
[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 89.9% as of June 30, 2017. The assets and liabilities of the Operating Partnership, as of June 30, 2017, include $1,466,918 and $1,026,938 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) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	$ 22,001	$ 28,173
Investment [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	22,001
Asset Management Fees and Other Receivables [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	1,524
Maximum Risk of Loss [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	$ 23,525

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Values of Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities	$ 21,564	$ 22,393
Interest rate swap assets (included in "other assets")	730	139
Total assets	22,294	22,532
Interest rate swap liabilities	1,819	22,446
Total liabilities	1,819	22,446
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities	21,564	22,393
Total assets	21,564	22,393
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap assets (included in "other assets")	730	139
Total assets	730	139
Interest rate swap liabilities	1,819	22,446
Total liabilities	$ 1,819	$ 22,446

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Carrying Amounts and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total assets	$ 22,294	$ 22,532
Total liabilities	1,819	22,446
Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Preferred equity investments	55,300	55,051
Total assets	55,300	55,051
Notes and mortgages payable	3,355,100	3,408,179
Revolving credit facility		230,000
Total liabilities	3,355,100	3,638,179
Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Preferred equity investments	55,614	55,300
Total assets	55,614	55,300
Notes and mortgages payable	3,347,070	3,371,262
Revolving credit facility		230,018
Total liabilities	$ 3,347,070	$ 3,601,280

Fee and Other Income - Schedule

Fee and Other Income - Schedule of Fee and Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fee income
Property management fees	$ 1,532	$ 1,539	$ 3,142	$ 3,060
Asset management fee income	2,359	1,783	4,625	3,497
Acquisition and disposition	250	590	5,570	590
Other fees	307	263	667	445
Total fee income	4,448	4,175	14,004	7,592
Lease termination income	895	93	961	11,048
Other income	2,318	2,520	5,690	9,025
Total fee and other income	$ 7,661	$ 6,788	$ 20,655	$ 27,665

Fee and Other Income - Schedu81

Fee and Other Income - Schedule of Fee and Other Income (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fee And Other Income [Line Items]
Lease termination income	$ 895	$ 93	$ 961	$ 11,048
1633 Broadway [Member]
Fee And Other Income [Line Items]
Lease termination income				$ 10,861

Interest and Other Income, ne82

Interest and Other Income, net - Schedule Of Interest And Other Income, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Interest And Other Income [Abstract]
Preferred equity investment income	$ 953	$ 1,423	$ 2,366	$ 2,839
Interest and other income	511	350	596	430
Mark-to-market of investments in our deferred compensation plans	1,022	(743)	2,724	(539)
Total interest and other income, net	$ 2,486	$ 1,030	$ 5,686	$ 2,730

Interest and Other Income, ne83

Interest and Other Income, net - Schedule Of Interest And Other Income, net (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Preferred equity investment income	$ 953	$ 1,423	$ 2,366	$ 2,839
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	$ 232	$ 347	$ 576	$ 692
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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Interest And Debt Expense [Abstract]
Interest expense	$ 31,999	$ 36,604	$ 66,287	$ 72,465
Amortization of deferred financing costs	2,818	1,405	5,548	2,663
Total interest and debt expense	$ 34,817	$ 38,009	$ 71,835	$ 75,128

Incentive Compensation - Additi

Incentive Compensation - Additional Information (Details) - USD ($)	Jan. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 4,438,000	$ 2,556,000	$ 7,867,000	$ 6,183,000
Acceleration of vesting stock awards					$ 1,855,000
Equity Incentive Plan [Member] | Full Value Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant		10,363,815		10,363,815
2017 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	Jan. 1, 2017
Performance measurement period, end date	Dec. 31, 2019
Percentage of award earned based on performance of absolute shareholder return	25.00%
Percentage of award earned based on performance of relative shareholder return	75.00%
Fair value of awards granted	$ 10,520,000
Additional vesting period for executive officers	1 year
Vesting period	4 years
2017 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%
2017 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%
2017 Performance Program [Member] | Minimum | At 30th Percentile [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total shareholder return for participants to start earning awards on absolute basis	18.00%
2017 Performance Program [Member] | Minimum | Exceeds 80th Percentile [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total shareholder return for participants to fully earn awards on absolute basis	30.00%

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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net income (loss) attributable to common stockholders	$ 103,016	$ 3,188	$ 103,388	$ (3,306)
Earnings allocated to unvested participating securities	(59)	(10)	(73)	(19)
Numerator for income (loss) per common share - basic and diluted	$ 102,957	$ 3,178	$ 103,315	$ (3,325)
Denominator:
Denominator for basic income (loss) per common share - weighted average shares	234,990,468	217,121,592	232,968,602	214,762,593
Effect of dilutive employee stock options and restricted share awards	20,000	16,000	27,000
Denominator for diluted income (loss) per common share - weighted average shares	235,010,830	217,137,557	232,995,822	214,762,593
Income (loss) per common share - basic and diluted	$ 0.44	$ 0.01	$ 0.44	$ (0.02)

Earnings Per Share - Summary 87

Earnings Per Share - Summary of Computation of Earnings Per Share (Parenthetical) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share [Abstract]
Effect of dilutive securities excluded from computation of earning per share	32,317	49,182	34,147	51,252

Related Party - Additional Info

Related Party - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)ft²	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)ft²	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 05, 2016ft²	Dec. 04, 2016ft²
Related Party Transaction [Line Items]
Due to affiliates	$ 27,299,000		$ 27,299,000		$ 27,299,000
Interest Expense, Related Party	35,000	$ 35,000	69,000	$ 69,000
Fee and other income	7,661,000	6,788,000	20,655,000	27,665,000
Accounts and other receivables	12,032,000		12,032,000		15,251,000
Transaction related costs	502,000	508,000	777,000	1,443,000
Accounts payable and other accrued expenses	$ 83,334,000		$ 83,334,000		$ 103,896,000
Area of related party lease | ft²	11,800,000		11,800,000
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	$ 210,000	191,000	$ 412,000	399,000
Accounts and other receivables	17,000		17,000
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	2,529,000		2,529,000
Property management, asset management, leasing and other related services fee income	$ 3,369,000	2,359,000	$ 11,775,000	4,599,000
Hamburg Trust Consulting GMBH ("HTC") [Member]
Related Party Transaction [Line Items]
Mark-up cost percentage	10.00%		10.00%
Transaction related costs	$ 134,000	454,000	$ 170,000	557,000
Accounts payable and other accrued expenses	$ 170,000		$ 170,000
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] | Board of Director [Member] | 712 Fifth Avenue [Member]
Related Party Transaction [Line Items]
Area of related party lease | ft²						5,593	6,790
Equity method ownership percentage	50.00%		50.00%
Lease rental income	$ 84,000	$ 102,000	$ 178,000	$ 204,000
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)	6 Months Ended
	Jun. 30, 2017ft²
Other Commitments [Line Items]
Area of office properties	11,800,000
718 Fifth Avenue [Member]
Other Commitments [Line Items]
Put right notice period	12 months
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]
Pre IPO ownership percentage	25.00%
Owned by Affiliate [Member] | Retail Type Space [Member] | Predecessor [Member] | 718 Fifth Avenue [Member]
Other Commitments [Line Items]
Area of office properties	19,050

Segments Disclosure - Additiona

Segments Disclosure - Additional Information (Details)	6 Months Ended
	Jun. 30, 2017Segment
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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Property-related revenues	$ 173,256	$ 168,128	$ 344,936	$ 337,629
Property-related operating expenses	(63,461)	(59,994)	(129,432)	(122,939)
NOI from unconsolidated joint ventures	4,958	4,536	9,781	8,964
NOI	114,753	112,670	225,285	223,654
New York [Member]
Segment Reporting Information [Line Items]
Property-related revenues	106,602	114,351	211,926	233,654
Property-related operating expenses	(43,289)	(42,543)	(88,048)	(86,680)
NOI from unconsolidated joint ventures	4,838	4,456	9,591	8,803
NOI	68,151	76,264	133,469	155,777
Washington, D.C. [Member]
Segment Reporting Information [Line Items]
Property-related revenues	18,138	21,478	41,925	41,460
Property-related operating expenses	(6,565)	(8,094)	(15,489)	(16,369)
NOI	11,573	13,384	26,436	25,091
San Francisco [Member]
Segment Reporting Information [Line Items]
Property-related revenues	48,201	31,702	90,140	61,321
Property-related operating expenses	(11,120)	(7,259)	(21,725)	(14,432)
NOI	37,081	24,443	68,415	46,889
Other [Member]
Segment Reporting Information [Line Items]
Property-related revenues	315	597	945	1,194
Property-related operating expenses	(2,487)	(2,098)	(4,170)	(5,458)
NOI from unconsolidated joint ventures	120	80	190	161
NOI	$ (2,052)	$ (1,421)	$ (3,035)	$ (4,103)

Segments Disclosure - Schedul92

Segments Disclosure - Schedule of Reconciliation of NOI to Net Income (Loss) Attributable to Common Stockholders (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting [Abstract]
NOI	$ 114,753	$ 112,670	$ 225,285	$ 223,654
Fee income	4,448	4,175	14,004	7,592
Depreciation and amortization expense	(68,636)	(67,287)	(131,628)	(142,099)
General and administrative expenses	(16,573)	(12,139)	(30,154)	(26,100)
Transaction related costs	(502)	(508)	(777)	(1,443)
NOI from unconsolidated joint ventures	(4,958)	(4,536)	(9,781)	(8,964)
Income from unconsolidated joint ventures	16,535	2,003	18,472	3,499
Loss from unconsolidated real estate funds	(2,411)	(960)	(2,123)	(1,286)
Interest and other income, net	2,486	1,030	5,686	2,730
Interest and debt expense	(34,817)	(38,009)	(71,835)	(75,128)
Debt breakage costs	(5,162)		(7,877)
Gain on sale of real estate	133,989		133,989
Unrealized gain on interest rate swaps		10,073	1,802	16,933
Net income (loss) before income taxes	139,152	6,512	145,063	(612)
Income tax (expense) benefit	(970)	1,398	(5,252)	1,035
Net income	138,182	7,910	139,811	423
Consolidated joint ventures	(1,897)	(4,107)	(3,188)	(5,359)
Consolidated real estate fund	(20,169)	78	(20,081)	752
Operating Partnership	(13,100)	(693)	(13,154)	878
Net income (loss) attributable to common stockholders	$ 103,016	$ 3,188	$ 103,388	$ (3,306)

Segments Disclosure - Schedul93

Segments Disclosure - Schedule of Selected Balance Sheet Data for Each Reportable Segments Information (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total assets	[1]	$ 8,517,503	$ 8,867,168
Total liabilities	[1]	3,631,592	3,981,221
Total equity		4,885,911	$ 4,885,947	$ 4,872,943	$ 4,959,515
New York [Member]
Segment Reporting Information [Line Items]
Total assets		5,545,701
Total liabilities		2,444,141
Total equity		3,101,560
Washington, D.C. [Member]
Segment Reporting Information [Line Items]
Total assets		706,534
Total liabilities		26,877
Total equity		679,657
San Francisco [Member]
Segment Reporting Information [Line Items]
Total assets		1,918,142
Total liabilities		1,041,494
Total equity		876,648
Other [Member]
Segment Reporting Information [Line Items]
Total assets		347,126
Total liabilities		119,080
Total equity		$ 228,046
[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 89.9% as of June 30, 2017. The assets and liabilities of the Operating Partnership, as of June 30, 2017, include $1,466,918 and $1,026,938 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)	Jul. 17, 2017USD ($)	Jul. 16, 2017Fund	Jun. 30, 2017ft²	Jun. 20, 2017ft²
Subsequent Event [Line Items]
Area of office and retail properties | ft²			11,800,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Percentage of ownership interest in new joint venture	36.60%
Fund VII and Fund VII H [Member]
Subsequent Event [Line Items]
Percentage interest in fund			7.20%
50 Beale Street [Member]
Subsequent Event [Line Items]
Property funds, ownership percentage			3.10%
50 Beale Street [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Number of unconsolidated real estate funds | Fund		2
Property funds, ownership percentage	31.10%
Percentage of interest directly acquired in property	13.20%
Percentage of remaining interest acquired in property by new joint venture	49.00%
Value of property acquired | $	$ 517,500,000
Value of debt assumed with acquisition | $	$ 228,000,000
Debt, fixed interest rate	3.65%
Maturity date of debt	2021-10
50 Beale Street [Member] | Fund VII and Fund VII H [Member]
Subsequent Event [Line Items]
Property ownership, percentage			42.80%
Area of office and retail properties | ft²				661,000
50 Beale Street [Member] | Fund VII and Fund VII H [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Percentage interest sold	62.20%
50 Beale Street [Member] | Third Party Investors [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Property funds, remaining ownership percentage		57.20%