Paramount (PGRE) 10-Q 27 Oct 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 15, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Registrant Name	PARAMOUNT GROUP, INC.
Trading Symbol	PGRE
Title of 12(b) Security	Common stock of Paramount Group, Inc.,$0.01 par value per share
Security Exchange Name	NYSE
Entity Central Index Key	0001605607
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-36746
Entity Tax Identification Number	32-0439307
Entity Address, Address Line One	1633 Broadway
Entity Address, Address Line Two	Suite 1801
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	212
Local Phone Number	237-3100
Entity Incorporation, State or Country Code	MD
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		218,956,406

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Real estate, at cost:
Land		$ 1,966,237	$ 1,966,237
Buildings and improvements		6,031,662	5,997,078
Rental property, at cost		7,997,899	7,963,315
Accumulated depreciation and amortization		(1,069,433)	(966,697)
Real estate, net		6,928,466	6,996,618
Cash and cash equivalents		494,569	434,530
Restricted cash		27,977	30,794
Investments in unconsolidated joint ventures		405,391	412,724
Investments in unconsolidated real estate funds		12,225	12,917
Accounts and other receivables		11,385	17,502
Deferred rent receivable		338,165	330,239
Deferred charges, net of accumulated amortization of $66,029 and $56,612		115,658	116,278
Intangible assets, net of accumulated amortization of $249,580 and $283,332		127,529	153,519
Other assets		84,220	48,976
Total assets	[1]	8,545,585	8,554,097
Liabilities and Equity
Notes and mortgages payable, net of unamortized deferred financing costs of $23,555 and $18,695		3,834,445	3,800,739
Revolving credit facility		0	0
Accounts payable and accrued expenses		117,758	101,901
Dividends and distributions payable		16,897	16,796
Intangible liabilities, net of accumulated amortization of $108,249 and $107,981		47,855	55,996
Other liabilities		65,413	62,931
Total liabilities	[1]	4,082,368	4,038,363
Commitments and contingencies
Paramount Group, Inc. equity:
Common stock $0.01 par value per share; authorized 900,000,000 shares; issued and outstanding 218,956,406 and 218,817,337 shares in 2021 and 2020, respectively		2,189	2,188
Additional paid-in-capital		4,117,939	4,120,173
Earnings less than distributions		(524,717)	(456,393)
Accumulated other comprehensive loss		(6,730)	(12,791)
Paramount Group, Inc. equity		3,588,681	3,653,177
Noncontrolling interests in:
Consolidated joint ventures		435,142	437,161
Consolidated real estate fund		82,209	79,017
Operating Partnership (21,799,022 and 20,756,618 units outstanding)		357,185	346,379
Total equity		4,463,217	4,515,734
Total liabilities and equity		$ 8,545,585	$ 8,554,097
[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 90.9% as of September 30, 2021. As of September 30, 2021, the Operating Partnership includes $4,070,290 and $2,581,637 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”).

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parentheticals) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2021	Dec. 31, 2020
Deferred charges, accumulated amortization		$ 66,029	$ 56,612
Intangible assets, accumulated amortization		249,580	283,332
Notes and mortgages payable, net of unamortized deferred financing costs		23,555	18,695
Intangible liabilities, accumulated amortization		$ 108,249	$ 107,981
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized		900,000,000	900,000,000
Common stock, shares issued		218,956,406	218,817,337
Common stock, shares outstanding		218,956,406	218,817,337
Operating partnership, units outstanding		21,799,022	20,756,618
Total assets	[1]	$ 8,545,585	$ 8,554,097
Total liabilities	[1]	4,082,368	4,038,363
Variable Interest Entities [Member]
Total assets		4,070,290	4,025,387
Total liabilities		$ 2,581,637	$ 2,546,914
Variable Interest Entities [Member] | Paramount Group Operating Partnership [Member]
Percentage of ownership in operating partnership		90.90%
[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 90.9% as of September 30, 2021. As of September 30, 2021, the Operating Partnership includes $4,070,290 and $2,581,637 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”).

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Rental revenue	$ 170,851	$ 165,420	$ 518,625	$ 504,834
Fee and other income	8,280	11,355	23,941	27,045
Total revenues	179,131	176,775	542,566	531,879
Expenses:
Operating	67,131	67,865	197,821	199,192
Depreciation and amortization	57,522	58,889	175,752	176,032
General and administrative	13,257	16,805	46,039	46,955
Transaction related costs	87	81	503	542
Total expenses	137,997	143,640	420,115	422,721
Other income (expense):
Income (loss) from unconsolidated joint ventures	223	(4,268)	(20,810)	(14,444)
Income (loss) from unconsolidated real estate funds	276	(56)	604	85
Interest and other income, net	138	1,104	2,510	2,360
Interest and debt expense	(36,266)	(35,792)	(105,919)	(108,420)
Income (loss) from continuing operations, before income taxes	5,505	(5,877)	(1,164)	(11,261)
Income tax expense	(873)	(393)	(2,448)	(1,135)
Income (loss) from continuing operations, net	4,632	(6,270)	(3,612)	(12,396)
Income from discontinued operations, net		2,147		5,815
Net income (loss)	4,632	(4,123)	(3,612)	(6,581)
Less net (income) loss attributable to noncontrolling interests in:
Consolidated joint ventures	(3,768)	(3,566)	(16,924)	(5,485)
Consolidated real estate fund	(3,123)	79	(3,179)	1,291
Operating Partnership	204	652	2,139	895
Net loss attributable to common stockholders	$ (2,055)	$ (6,958)	$ (21,576)	$ (9,880)
(Loss) Income per Common Share - Basic
Loss from continuing operations, net	$ (0.01)	$ (0.04)	$ (0.10)	$ (0.07)
Income from discontinued operations, net		0.01		0.03
Net loss per common share	$ (0.01)	$ (0.03)	$ (0.10)	$ (0.04)
Weighted average common shares outstanding	218,706,356	221,461,146	218,689,696	223,593,376
(Loss) Income per Common Share - Diluted
Loss from continuing operations, net	$ (0.01)	$ (0.04)	$ (0.10)	$ (0.07)
Income from discontinued operations, net		0.01		0.03
Net loss per common share	$ (0.01)	$ (0.03)	$ (0.10)	$ (0.04)
Weighted average common shares outstanding	218,706,356	221,461,146	218,689,696	223,593,376

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 4,632	$ (4,123)	$ (3,612)	$ (6,581)
Other comprehensive income (loss):
Change in value of interest rate swaps and interest rate caps	995		995
Pro rata share of other comprehensive income (loss) of unconsolidated joint ventures	928	904	5,677	(15,453)
Comprehensive income (loss)	6,555	(3,219)	3,060	(22,034)
Less comprehensive (income) loss attributable to noncontrolling interests in:
Consolidated joint ventures	(3,768)	(3,566)	(16,924)	(5,485)
Consolidated real estate fund	(3,123)	75	(3,191)	1,283
Operating Partnership	30	575	1,541	2,319
Comprehensive loss attributable to common stockholders	$ (306)	$ (6,135)	$ (15,514)	$ (23,917)

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 (Loss) Income [Member]	Noncontrolling InterestConsolidated Joint Ventures	Noncontrolling InterestConsolidated Real Estate Fund [Member]	Noncontrolling InterestOperating Partnership [Member]
Beginning balance at Dec. 31, 2019	$ 4,630,962	$ 2,274	$ 4,133,184	$ (349,557)	$ (171)	$ 360,778	$ 72,396	$ 412,058
Common stock, shares outstanding at Dec. 31, 2019		227,432,000
Net income (loss)	(6,581)			(9,880)		5,485	(1,291)	(895)
Common shares issued upon redemption of common units		$ 51	85,659
Common shares issued upon redemption of common units, shares		5,150,000
Common shares issued under Omnibus share plan, net of shares withheld for taxes	(318)	$ 1		(319)
Common shares issued under Omnibus share plan, net of shares withheld for taxes		53,000
Redemption of minority interest in operating partnerships								(85,710)
Repurchases of common shares	(108,520)	$ (121)	(108,399)
Repurchases of common shares, shares		(12,090,055)
Dividends and distributions	(72,807)			(66,482)				(6,325)
Contributions from noncontrolling interests	11,555					3,500	8,055
Distributions to noncontrolling interests	(9,530)					(9,530)
Pro rata share of other comprehensive income (loss) of unconsolidated joint ventures	(15,453)				(14,037)		8	(1,424)
Amortization of equity awards	14,252		984					13,268
Sale of a 10.0% interest in 1633 Broadway	109,573		33,230			76,343
Reallocation of noncontrolling interest			(16,171)					16,171
Ending balance at Sep. 30, 2020	4,553,133	$ 2,205	4,128,487	(426,238)	(14,208)	436,576	79,168	347,143
Common stock, shares outstanding at Sep. 30, 2020		220,545,000
Beginning balance at Dec. 31, 2019	4,630,962	$ 2,274	4,133,184	(349,557)	(171)	360,778	72,396	412,058
Common stock, shares outstanding at Dec. 31, 2019		227,432,000
Repurchases of common shares	(120,000)
Repurchases of common shares, shares		(13,813,158)
Ending balance at Dec. 31, 2020	$ 4,515,734	$ 2,188	4,120,173	(456,393)	(12,791)	437,161	79,017	346,379
Common stock, shares outstanding at Dec. 31, 2020	218,817,337	218,817,000
Beginning balance at Jun. 30, 2020	$ 4,587,676	$ 2,219	4,133,542	(397,220)	(15,031)	436,183	79,243	348,740
Common stock, shares outstanding at Jun. 30, 2020		221,764,000
Net income (loss)	(4,123)			(6,958)		3,566	(79)	(652)
Common shares issued upon redemption of common units			399
Common shares issued upon redemption of common units, shares		24,000
Common shares issued under Omnibus share plan, net of shares withheld for taxes	(2)	$ (2)
Common shares issued under Omnibus share plan, net of shares withheld for taxes		(10,000)
Redemption of minority interest in operating partnerships								(399)
Repurchases of common shares	(8,520)	$ (12)	(8,508)
Repurchases of common shares, shares		(1,233,000)
Dividends and distributions	(24,173)			(22,060)				(2,113)
Distributions to noncontrolling interests	(3,173)					(3,173)
Pro rata share of other comprehensive income (loss) of unconsolidated joint ventures	904				823		4	77
Amortization of equity awards	4,544		292					4,252
Reallocation of noncontrolling interest			2,762					(2,762)
Ending balance at Sep. 30, 2020	4,553,133	$ 2,205	4,128,487	(426,238)	(14,208)	436,576	79,168	347,143
Common stock, shares outstanding at Sep. 30, 2020		220,545,000
Beginning balance at Dec. 31, 2020	$ 4,515,734	$ 2,188	4,120,173	(456,393)	(12,791)	437,161	79,017	346,379
Common stock, shares outstanding at Dec. 31, 2020	218,817,337	218,817,000
Net income (loss)	$ (3,612)			(21,576)		16,924	3,179	(2,139)
Common shares issued upon redemption of common units			165
Common shares issued upon redemption of common units, shares		10,000
Common shares issued under Omnibus share plan, net of shares withheld for taxes	(214)	$ 1		(215)
Common shares issued under Omnibus share plan, net of shares withheld for taxes		129,000
Redemption of minority interest in operating partnerships								(165)
Repurchases of common shares, shares		0
Dividends and distributions	(50,683)			(45,981)				(4,702)
Contributions from noncontrolling interests	121					121
Distributions to noncontrolling interests	(19,616)					(19,616)
Change in value of interest rate swaps and interest rate caps	995				905			90
Pro rata share of other comprehensive income (loss) of unconsolidated joint ventures	5,677				5,156		13	508
Amortization of equity awards	14,544		916					13,628
Reallocation of noncontrolling interest			(3,586)					3,586
Other	271		271	(552)		552
Ending balance at Sep. 30, 2021	$ 4,463,217	$ 2,189	4,117,939	(524,717)	(6,730)	435,142	82,209	357,185
Common stock, shares outstanding at Sep. 30, 2021	218,956,406	218,956,000
Beginning balance at Jun. 30, 2021	$ 4,480,123	$ 2,189	4,113,889	(507,321)	(8,478)	442,428	79,085	358,331
Common stock, shares outstanding at Jun. 30, 2021		218,962,000
Net income (loss)	4,632			(2,055)		3,768	3,123	(204)
Common shares issued under Omnibus share plan, net of shares withheld for taxes	(14)			(14)
Common shares issued under Omnibus share plan, net of shares withheld for taxes		(6,000)
Dividends and distributions	(16,897)			(15,327)				(1,570)
Distributions to noncontrolling interests	(11,054)					(11,054)
Change in value of interest rate swaps and interest rate caps	995				905			90
Pro rata share of other comprehensive income (loss) of unconsolidated joint ventures	928				843		1	84
Amortization of equity awards	4,233		305					3,928
Reallocation of noncontrolling interest			3,474					(3,474)
Other	271		271
Ending balance at Sep. 30, 2021	$ 4,463,217	$ 2,189	$ 4,117,939	$ (524,717)	$ (6,730)	$ 435,142	$ 82,209	$ 357,185
Common stock, shares outstanding at Sep. 30, 2021	218,956,406	218,956,000

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Stockholders Equity [Abstract]
Dividends and distributions, Per share and unit	$ 0.07	$ 0.10	$ 0.21	$ 0.30

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities:
Net income (loss)	$ (3,612,000)	$ (6,581,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	175,752,000	176,722,000
Loss from unconsolidated joint ventures	20,810,000	14,444,000
Amortization of stock-based compensation expense	14,421,000	14,141,000
Straight-lining of rental revenue	(7,925,000)	(24,170,000)
Amortization of deferred financing costs	7,306,000	6,957,000
Distributions of earnings from unconsolidated joint ventures	3,950,000	1,688,000
Amortization of above and below-market leases, net	(2,335,000)	(4,653,000)
Realized and unrealized gains on marketable securities	(1,271,000)	(129,000)
Income from unconsolidated real estate funds	(604,000)	(85,000)
Distributions of earnings from unconsolidated real estate funds	535,000	480,000
Other non-cash adjustments	2,330,000	231,000
Changes in operating assets and liabilities:
Accounts and other receivables	6,118,000	3,942,000
Deferred charges	(12,664,000)	(10,116,000)
Other assets	(30,014,000)	(36,068,000)
Accounts payable and accrued expenses	12,830,000	2,827,000
Other liabilities	2,433,000	(61,000)
Net cash provided by operating activities	188,060,000	139,569,000
Cash Flows from Investing Activities:
Additions to real estate	(74,134,000)	(60,348,000)
Purchases of marketable securities	(21,562,000)	(12,207,000)
Sales of marketable securities	18,305,000	19,049,000
Contributions of capital to unconsolidated joint ventures	(11,750,000)
Distributions of capital from unconsolidated real estate funds	3,959,000
Contributions of capital to unconsolidated real estate funds	(3,198,000)	(2,945,000)
Repayment of amounts due from affiliates		36,918,000
Net cash used in investing activities	(88,380,000)	(19,533,000)
Cash Flows from Financing Activities:
Proceeds from notes and mortgages payable	888,566,000	9,791,000
Repayment of notes and mortgages payable	(850,000,000)
Dividends paid to common stockholders	(45,970,000)	(67,165,000)
Distributions to noncontrolling interests	(19,616,000)	(9,530,000)
Debt issuance costs	(10,593,000)
Distributions paid to common unitholders	(4,612,000)	(6,724,000)
Repurchase of shares related to stock compensation agreements and related tax withholdings	(214,000)	(318,000)
Purchase of interest rate caps	(140,000)
Contributions from noncontrolling interests	121,000	11,555,000
Borrowings under revolving credit facility		163,082,000
Proceeds from the sale of a 10.0% interest in 1633 Broadway		111,984,000
Repurchases of common shares		(108,520,000)
Repayment of note payable issued in connection with the acquisition of noncontrolling interest in consolidated real estate fund		(8,771,000)
Net cash (used in) provided by financing activities	(42,458,000)	95,384,000
Net increase in cash and cash equivalents and restricted cash	57,222,000	215,420,000
Cash and cash equivalents and restricted cash at beginning of period	465,324,000	331,487,000
Cash and cash equivalents and restricted cash at end of period	522,546,000	546,907,000
Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period	434,530,000	306,215,000
Restricted cash at beginning of period	30,794,000	25,272,000
Cash and cash equivalents and restricted cash at beginning of period	465,324,000	331,487,000
Cash and cash equivalents at end of period	494,569,000	515,942,000
Restricted cash at end of period	27,977,000	30,965,000
Cash and cash equivalents and restricted cash at end of period	522,546,000	546,907,000
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest	98,917,000	102,379,000
Cash payments for income taxes, net of refunds	970,000	1,440,000
Non-Cash Transactions:
Dividends and distributions declared but not yet paid	16,897,000	24,173,000
Additions to real estate included in accounts payable and accrued expenses	17,842,000	14,644,000
Write-off of fully amortized and/or depreciated assets	43,232,000	8,677,000
Common shares issued upon redemption of common units	165,000	$ 85,710,000
Change in value of interest rate swaps and interest rate caps	$ 995,000

Organization and Business

Organization and Business	9 Months Ended
	Sep. 30, 2021
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 and San Francisco. As of September 30, 2021, our portfolio consisted of 13 Class A properties aggregating 12.9 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 90.9% of, the Operating Partnership as of September 30, 2021. In March 2020, the World Health Organization declared coronavirus 2019 (“COVID-19”) a global pandemic. The outbreak of COVID-19 caused severe disruptions in the global economy. These disruptions have adversely impacted businesses and financial markets, including that of New York and San Francisco, the markets in which we operate and where all of our assets are located. As a result, several of our tenants sought deferrals and/or short-term relief of their rental obligations and we provided relief to select tenants. The U.S. Food and Drug Administration has approved the use of one COVID-19 vaccine and has issued emergency use authorizations of two additional vaccines for the prevention of COVID-19. The availability of these vaccines has resulted in a significant portion of the population in New York and San Francisco being vaccinated and enabled New York and San Francisco to lift most COVID-19 restrictions. Notwithstanding the vaccination success, multiple variants of the virus that cause COVID-19 continue to persist globally and in the United States. While we continue to navigate the crisis and monitor the impact of the pandemic on our business, the fluidity of the situation precludes us at this time from making any predictions as to the ultimate impact COVID-19 may have on our future financial condition, results of operations and cash flows.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
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 are unaudited and have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in conjunction with the instructions to Form 10-Q of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures required by GAAP for complete financial statements have been condensed or omitted. These consolidated financial statements include the accounts of Paramount and its consolidated subsidiaries, including the Operating Partnership. In the opinion of management, all significant adjustments (which include only normal recurring adjustments) and eliminations (which include intercompany balances and transactions) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. The consolidated balance sheet as of December 31, 2020 was derived from audited financial statements as of that date but does not include all information and disclosures required by GAAP. These consolidated financial statements 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, 2020, as filed with the SEC. 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, 2020. Use of Estimates 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 materially from those estimates. The results of operations for the three and nine months ended September 30, 2021, are not necessarily indicative of the operating results for the full year. Recently Issued Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, an update to ASC Topic 740, Income Taxes. In March 2020, the FASB issued ASU 2020-04, which adds ASC Topic 848, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting In August 2020, the FASB issued ASU 2020-06, an update to ASC Topic 470, Subtopic - 20, Debt - Debt with Conversion and Other Options Derivatives and Hedging - Contracts in Entity's Own Equity Earnings Per Share, In October 2020, the FASB issued ASU 2020-10, Codification Improvements

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2021
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations Disclosure Text Block	3 . Discontinued Operations Over the past three years, we sold the remaining assets in our Washington, D.C. portfolio, thereby exiting the Washington, D.C. office market. These dispositions represented a strategic shift in our operations and met the criteria for classifying our Washington, D.C. segment as “discontinued operations,” in accordance with ASC Topic 205, Presentation of Financial Statements. The tables below provide the details of the results of operations and the details of the cash flows related to discontinued operations for the periods set forth below. (Amounts in thousands) For the Three Months For the Nine Months Income Statement: (1) Ended September 30, 2020 Ended September 30, 2020 Revenues: Rental revenue $ 3,556 $ 10,634 Other income 85 215 Total revenues 3,641 10,849 Expenses: Operating 1,483 4,333 Depreciation and amortization - 690 Total expenses 1,483 5,023 Income before income taxes 2,158 5,826 Income tax expense (11 ) (11 ) Income from discontinued operations, net $ 2,147 $ 5,815 (Amounts in thousands) For the Nine Months Statement of Cash Flows: (1) Ended September 30, 2020 Cash provided by operating activities $ 3,262 Additional Cash Flow information: Depreciation and amortization $ 690 (1) Represents revenues, expenses, net income and cash flow information of 1899 Pennsylvania Avenue, which was sold on December 24, 2020.

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	9 Months Ended
	Sep. 30, 2021
Equity Method Investments And Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	4 . Investments in Unconsolidated Joint Ventures The following tables summarize our investments in unconsolidated joint ventures as of the dates thereof and the income or loss from these investments for the periods set forth below. (Amounts in thousands) Paramount As of Our Share of Investments: Ownership September 30, 2021 December 31, 2020 712 Fifth Avenue (1) 50.0% $ - $ - Market Center 67.0% 186,301 192,306 55 Second Street (2) 44.1% 89,576 92,298 111 Sutter Street 49.0% 35,956 37,818 60 Wall Street (2) 5.0% 19,216 19,164 One Steuart Lane (2) 35.0% (3) 70,656 67,505 Oder-Center, Germany (2) 9.5% 3,686 3,633 Investments in unconsolidated joint ventures $ 405,391 $ 412,724 For the Three Months Ended For the Nine Months Ended (Amounts in thousands) September 30, September 30, Our Share of Net Income (Loss): 2021 2020 2021 2020 712 Fifth Avenue (1) $ 431 $ 229 $ (10,697 ) $ 458 Market Center (2,228 ) (2,654 ) (9,272 ) (8,578 ) 55 Second Street (2) (702 ) (713 ) (2,171 ) (2,059 ) 111 Sutter Street (685 ) (884 ) (1,874 ) (2,413 ) 60 Wall Street (2) 18 10 52 (81 ) One Steuart Lane (2) 3,363 (4) (223 ) 3,138 (4) (1,773 ) Oder-Center, Germany (2) 26 (33 ) 14 2 Income (loss) from unconsolidated joint ventures $ 223 $ (4,268 ) $ (20,810 ) $ (14,444 ) (1) At December 31, 2020, our basis in the joint venture that owns 712 Fifth Avenue was negative $22,345. Since we have no further obligation to fund additional capital to the joint venture, we no longer recognize our proportionate share of earnings from the joint venture. Instead, we recognize income only to the extent we receive cash distributions from the joint venture and recognize losses to the extent we make cash contributions to the joint venture. During the nine months ended September 30, 2021, we received $1,053 in distributions from the joint venture and made an $11,750 contribution to the joint venture. Accordingly, we recognized a loss of $10,697, which is included in “loss from unconsolidated joint ventures” on our consolidated statements of income for the nine months ended September 30, 2021. Additionally, the joint venture had net losses of $3,439 for the nine months ended September 30, 2021, of which our 50.0% share was $1,720. Accordingly, our basis in the joint venture, taking into account distributions received, contributions made and our share of losses, was negative $13,368 as of September 30, 2021. (2) As of September 30, 2021, the carrying amount of our investments in 55 Second Street, 60 Wall Street, One Steuart Lane and Oder-Center is greater than our share of equity in these investments by $480, $2,628, $970 and $4,797, respectively, and primarily represents the unamortized portion of our capitalized acquisition costs. Basis differences allocated to depreciable assets are being amortized into income or loss from the unconsolidated joint ventures to which they relate, over the estimated useful life of the related assets. (3) Represents our consolidated Residential Development Fund’s (“RDF”) economic interest in One Steuart Lane, a for-sale residential condominium development project. (4) Includes RDF’s share of gain on sale of residential condominium units. The following tables provide the combined summarized financial information of our unconsolidated joint ventures as of the dates thereof and for the periods set forth below. (Amounts in thousands) As of Balance Sheets: September 30, 2021 December 31, 2020 Real estate, net $ 2,254,141 $ 2,674,858 Cash and cash equivalents and restricted cash 210,194 120,149 Intangible assets, net 71,193 110,307 For-sale residential condominium units (1) 389,755 - Other assets 62,099 45,761 Total assets $ 2,987,382 $ 2,951,075 Notes and mortgages payable, net $ 1,846,667 $ 1,801,084 Intangible liabilities, net 20,447 26,772 Other liabilities 73,926 87,575 Total liabilities 1,941,040 1,915,431 Equity 1,046,342 1,035,644 Total liabilities and equity $ 2,987,382 $ 2,951,075 For the Three Months Ended For the Nine Months Ended (Amounts in thousands) September 30, September 30, Income Statements: 2021 2020 2021 2020 Revenues: Rental revenue $ 57,998 $ 61,340 $ 171,721 $ 182,923 Other income 92,360 (2) 625 93,698 (2) 2,149 Total revenues 150,358 61,965 265,419 185,072 Expenses: Operating 102,949 (2) 26,381 153,526 (2) 81,963 Depreciation and amortization 26,432 29,700 80,899 88,981 Total expenses 129,381 56,081 234,425 170,944 Other income (expense): Interest and other (loss) income (27 ) (45 ) (83 ) 3 Interest and debt expense (17,503 ) (14,030 ) (45,135 ) (44,244 ) Net income (loss) before income taxes 3,447 (8,191 ) (14,224 ) (30,113 ) Income tax expense (17 ) (1 ) (32 ) (45 ) Net income (loss) $ 3,430 $ (8,192 ) $ (14,256 ) $ (30,158 ) (1) Represents the cost of residential condominium units at One Steuart Lane that are available for sale. (2) Includes proceeds and cost of sales from the sale of residential condominium units at One Steuart Lane.

Investments in Unconsolidated R

Investments in Unconsolidated Real Estate Funds	9 Months Ended
	Sep. 30, 2021
Real Estate Fund [Abstract]
Investments in Unconsolidated Real Estate Funds	5 . Investments in Unconsolidated Real Estate Funds We are the general partner and investment manager of Paramount Group Real Estate Fund VIII, LP (“Fund VIII”) and Paramount Group Real Estate Fund X, LP and its parallel fund, Paramount Group Real Estate Fund X-ECI, LP, (collectively, “Fund X”), our Alternative Investment Funds, which invest in mortgage and mezzanine loans and preferred equity investments. While Fund VIII’s investment period has ended, Fund X’s investment period ends in December 2025. As of September 30, 2021, Fund X has $192,000,000 of capital committed, of which $78,968,000 has been invested and $34,424,000 has been reserved for future funding. Our ownership interest in Fund VIII and Fund X was approximately 1.3% and 7.8%, respectively, as of September 30, 2021. As of September 30, 2021 and December 31, 2020, our share of the investments in the above mentioned unconsolidated real estate funds aggregated $12,225,000 and $12,917,000, respectively. We recognized income of $276,000 and loss of $56,000 for the three months ended September 30, 2021 and 2020, respectively, and income of $604,000 and $85,000 for the nine months ended September 30, 2021 and 2020, respectively.

Intangible Assets and Liabiliti

Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets and Liabilities	6. Intangible Assets and Liabilities The following tables summarize our intangible assets (acquired above-market leases and acquired in-place leases) and intangible liabilities (acquired below-market leases) and the related amortization as of the dates thereof and for the periods set forth below. As of (Amounts in thousands) September 30, 2021 December 31, 2020 Intangible assets: Gross amount $ 377,109 $ 436,851 Accumulated amortization (249,580 ) (283,332 ) $ 127,529 $ 153,519 Intangible liabilities: Gross amount $ 156,104 $ 163,977 Accumulated amortization (108,249 ) (107,981 ) $ 47,855 $ 55,996 For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Amortization of above and below-market leases, net (component of "rental revenue") $ 722 $ 1,910 $ 2,335 $ 4,688 Amortization of acquired in-place leases (component of "depreciation and amortization") 6,413 9,195 20,183 27,877 The following table sets forth annual amortization of acquired above and below-market leases, net and amortization of acquired in-place leases for each of the five succeeding years commencing from January 1, 2022. (Amounts in thousands) For the Year Ending December 31, Above and Below-Market Leases, Net In-Place Leases 2022 $ 1,345 $ 21,644 2023 5,080 17,705 2024 6,020 14,248 2025 4,674 10,451 2026 2,801 7,896

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	7 . Debt On July 29, 2021, we completed an $860,000,000 refinancing of 1301 Avenue of the Americas, a 1.7 million square foot trophy office building, located in New York, New York. The new five-year The following table summarizes our consolidated outstanding debt. Interest Rate Maturity Fixed/ as of As of (Amounts in thousands) Date Variable Rate September 30, 2021 September 30, 2021 December 31, 2020 Notes and mortgages payable: 1633 Broadway (1) Dec-2029 Fixed 2.99 % $ 1,250,000 $ 1,250,000 One Market Plaza (1) Feb-2024 Fixed 4.03 % 975,000 975,000 1301 Avenue of the Americas Aug-2026 Fixed (2) 2.46 % 500,000 500,000 Aug-2026 L + 356 bps (3) 3.65 % 360,000 350,000 2.95 % 860,000 850,000 31 West 52nd Street June-2026 Fixed 3.80 % 500,000 500,000 300 Mission Street (1) Oct-2023 Fixed 3.65 % 273,000 244,434 Total notes and mortgages payable 3.40 % 3,858,000 3,819,434 Less: unamortized deferred financing costs (23,555 ) (18,695 ) Total notes and mortgages payable, net $ 3,834,445 $ 3,800,739 $1.0 Billion Revolving Credit Facility Jan-2022 (4) L + 115 bps n/a $ - $ - (1) Our ownership interests in 1633 Broadway, One Market Plaza and 300 Mission Street are 90.0%, 49.0% and 31.1%, respectively. (2) Represents variable rate loans that have been fixed by interest rate swaps through August 2024. See Note 8, Derivative Instruments and Hedging Activities. (3) Represents variable rate loans, where LIBOR has been capped at 2.00% Derivative Instruments and Hedging Activities . (4) The $1.0 billion revolving credit facility matures on January 10, 2022 and has two six-month extension options.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	8 . Derivative Instruments and Hedging Activities We record all derivatives on our consolidated balance sheets at fair value in accordance with Accounting Standards Codification (“ASC”) Topic 815, Derivatives and Hedging On July 29, 2021, we completed an $860,000,000 refinancing of 1301 Avenue of the Americas. In connection with the refinancing, we entered into interest rate swap agreements on the loan with an aggregate notional amount of $500,000,000 to fix LIBOR at 0.46% through August 2024. We also entered into interest rate cap agreements with an aggregate notional amount of $360,000,000 to cap LIBOR at 2.00% through August 2023. These interest rate swaps and interest rate caps are designated as cash flow hedges and therefore changes in their fair values are recognized in other comprehensive income or loss (outside of earnings). We recognized other comprehensive income of $995,000 for the three and nine months ended September 30, 2021, from the changes in fair value of these derivative financial instruments. See Note 10, Accumulated Other Comprehensive Loss The table below provide additional details on our interest rate swaps that are designated as cash flow hedges. Notional Strike Fair Value as of Property Amount Effective Date Maturity Date Rate September 30, 2021 (Amounts in thousands) 1301 Avenue of the Americas $ 500,000 Jul-2021 Aug-2024 0.46 % $ 1,053 Total interest rate swap assets designated as cash flow hedges (included in "other assets") $ 1,053 We have agreements with various derivative counterparties that contain provisions wherein a default on our indebtedness could be deemed a default on our derivative obligations, which would require us to settle our derivative obligations for cash. As of September 30, 2021, we did not have any obligations relating to our interest rate swaps or interest rate caps that contained such provisions.

Equity

Equity	9 Months Ended
	Sep. 30, 2021
Stockholders Equity Note [Abstract]
Equity	9 . Equity Stock Repurchase Program On November 5, 2019, we received authorization from our Board of Directors to repurchase up to $200,000,000 of our common stock, from time to time, in the open market or in privately negotiated transactions. During 2020, we repurchased 13,813,158 common shares at a weighted average price of $8.69 per share, or $120,000,000 in the aggregate, of which 12,090,055 shares were repurchased in the nine months ended September 30, 2020 at a weighted average price of $8.98 per share, or $108,520,000 in the aggregate. We did not repurchase any shares in the nine months ended September 30, 2021. We have $80,000,000 available for future repurchases under the existing program. The amount and timing of future repurchases, if any, will depend on a number of factors, including, the price and availability of our shares, trading volume, general market conditions and available funding. The stock repurchase program may be suspended or discontinued at any time.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2021
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Loss	10 . Accumulated Other Comprehensive Loss The following table sets forth changes in accumulated other comprehensive loss by component for the three and nine months ended September 30, 2021 and 2020, including amounts attributable to noncontrolling interests in the Operating Partnership. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Amount of income related to the cash flow hedges recognized in other comprehensive loss (1) $ 671 $ - $ 671 $ - Amounts reclassified from accumulated other comprehensive loss increasing interest and debt expense (1) 324 - 324 - Amount of (loss) income related to unconsolidated joint ventures recognized in other comprehensive loss (2) (88 ) (62 ) 2,693 (16,734 ) Amounts reclassified from accumulated other comprehensive loss increasing loss from unconsolidated joint ventures (2) 1,016 966 2,984 1,281 (1) Represents amounts related to interest rate swaps with an aggregate notional value of $500,000 and interest rate caps with an aggregate notional value of $360,000, which were designated as cash flow hedges. (2) Primarily represents amounts related to interest rate swap with a notional value of $402,000, which was designated as cash flow hedge.

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Sep. 30, 2021
Noncontrolling Interest [Abstract]
Noncontrolling Interests	1 1 . Noncontrolling Interests Consolidated Joint Ventures Noncontrolling interests in consolidated joint ventures consist of equity interests held by third parties in 1633 Broadway, One Market Plaza and 300 Mission Street. As of September 30, 2021 and December 31, 2020, noncontrolling interests in our consolidated joint ventures aggregated $435,142,000 and $437,161,000, respectively. Consolidated Real Estate Fund Noncontrolling interests in our consolidated real estate fund consists of equity interests held by third parties in our Residential Development Fund. As of September 30, 2021 and December 31, 2020, the noncontrolling interest in our consolidated real estate fund aggregated $82,209,000 and $79,017,000, 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 September 30, 2021 and December 31, 2020, noncontrolling interests in the Operating Partnership on our consolidated balance sheets had a carrying amount of $357,185,000 and $346,379,000, respectively, and a redemption value of $195,973,000 and $187,640,000, respectively, based on the closing share price of our common stock on the New York Stock Exchange.

Variable Interest Entities ("VI

Variable Interest Entities ("VIEs")	9 Months Ended
	Sep. 30, 2021
Variable Interest Entities [Abstract]
Variable Interest Entities ("VIEs")	1 2 . Variable Interest Entities (“VIEs”) In the normal course of business, we are the general partner of various types of investment vehicles, which may be considered VIEs. We may, from time to time, own equity or debt securities through vehicles, each of which are considered variable interests. Our involvement in financing the operations of the VIEs is generally limited to our investments in the entity. We consolidate these entities when we are deemed to be the primary beneficiary. Consolidated VIEs We are the sole general partner of, and owned approximately 90.9% of, the Operating Partnership as of September 30, 2021. The Operating Partnership is considered a VIE and is consolidated in our consolidated financial statements. Since we conduct our business through and substantially all of our interests are held by the Operating Partnership, the assets and liabilities on our consolidated financial statements represent the assets and liabilities of the Operating Partnership. As of September 30, 2021 and December 31, 2020, the Operating Partnership held interests in consolidated VIEs owning properties and a real estate fund that were determined to be VIEs. The assets of these consolidated VIEs may only be used to settle the obligations of the entities and such obligations are secured only by the assets of the entities and are non-recourse to the Operating Partnership or us. The following table summarizes the assets and liabilities of consolidated VIEs of the Operating Partnership. As of (Amounts in thousands) September 30, 2021 December 31, 2020 Real estate, net $ 3,437,064 $ 3,470,766 Cash and cash equivalents and restricted cash 206,019 134,647 Investments in unconsolidated joint ventures 70,656 67,505 Accounts and other receivables 3,887 6,871 Deferred rent receivable 202,051 192,401 Deferred charges, net 50,621 55,156 Intangible assets, net 65,742 76,545 Other assets 34,250 21,496 Total VIE assets $ 4,070,290 $ 4,025,387 Notes and mortgages payable, net $ 2,487,363 $ 2,457,272 Accounts payable and accrued expenses 59,348 51,590 Intangible liabilities, net 29,084 33,566 Other liabilities 5,842 4,486 Total VIE liabilities $ 2,581,637 $ 2,546,914 Unconsolidated VIEs As of September 30, 2021, the Operating Partnership held variable interests in entities that own our unconsolidated real estate funds that were deemed to be VIEs. The following table summarizes our investments in these unconsolidated real estate funds and the maximum risk of loss from these investments. As of (Amounts in thousands) September 30, 2021 December 31, 2020 Investments $ 12,225 $ 12,917 Asset management fees and other receivables 23 561 Maximum risk of loss $ 12,248 $ 13,478

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	1 3 . Fair Value Measurements Financial Assets Measured at Fair Value Interest rate swaps and interest rate caps are valued by a third-party specialist using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each swap and cap. This analysis reflects the contractual terms of the interest rate swaps and interest rate caps and uses observable market-based inputs, including interest rate curves and implied volatilities. Interest rate swaps and interest rate caps are classified as Level 2 in the fair value hierarchy. The following table summarizes the fair value of our financial assets that are measured at fair value on our consolidated balance sheets as of the dates set forth below, based on their levels in the fair value hierarchy. As of September 30, 2021 (Amounts in thousands) Total Level 1 Level 2 Level 3 Marketable securities (included in "other assets") $ 21,706 $ 21,706 $ - $ - Interest rate swap assets (included in "other assets") 1,053 - 1,053 - Interest rate cap assets (included in "other assets") 82 - 82 - Total assets $ 22,841 $ 21,706 $ 1,135 $ - As of December 31, 2020 (Amounts in thousands) Total Level 1 Level 2 Level 3 Marketable securities (included in "other assets") $ 17,178 $ 17,178 $ - $ - Total assets $ 17,178 $ 17,178 $ - $ - Financial Liabilities Not Measured at Fair Value Financial liabilities not measured at fair value on our consolidated balance sheets consist of notes and mortgages payable, and the revolving credit facility. The following table summarizes the carrying amounts and fair value of these financial instruments as of the dates set forth below. As of September 30, 2021 As of December 31, 2020 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Notes and mortgages payable $ 3,858,000 $ 3,902,911 $ 3,819,434 $ 3,871,644 Revolving credit facility - - - - Total liabilities $ 3,858,000 $ 3,902,911 $ 3,819,434 $ 3,871,644

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	1 4 . Leases We lease office, retail and storage space to tenants, primarily under non-cancellable operating leases, which generally have terms ranging from five to fifteen years. Most of our leases provide tenants with extension options at either fixed or market rates and few of our leases provide tenants with options to early terminate, but such options generally impose an economic penalty on the tenant upon exercising. Rental revenue is recognized in accordance with ASC Topic 842, Leases, The following table sets forth the details of our rental revenue. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Rental revenue: Fixed $ 158,400 $ 153,065 (1) $ 478,670 $ 467,609 (1) Variable 12,451 12,355 39,955 (2) 37,225 Total rental revenue $ 170,851 $ 165,420 $ 518,625 $ 504,834 (1) Includes (2) Includes $5,051 of income in connection with a tenant’s lease termination at 300 Mission Street. The following table is a schedule of future undiscounted cash flows under non-cancellable operating leases in effect as of September 30, 2021, for the three-month period from October 1, 2021 through December 31, 2021, and each of the five succeeding years and thereafter commencing January 1, 2022. (Amounts in thousands) 2021 $ 161,526 2022 634,446 2023 620,383 2024 596,696 2025 541,026 2026 445,087 Thereafter 2,168,408 Total $ 5,167,572

Fee and Other Income

Fee and Other Income	9 Months Ended
	Sep. 30, 2021
Revenues [Abstract]
Fee and Other Income	15. The following table sets forth the details of our fee and other income. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Fee income: Asset management $ 3,280 $ 3,636 $ 10,175 $ 10,728 Property management 2,176 2,270 6,457 6,959 Acquisition, disposition, leasing and other 1,105 3,247 2,800 4,005 Total fee income 6,561 9,153 19,432 21,692 Other income (1) 1,719 2,202 4,509 5,353 Total fee and other income $ 8,280 $ 11,355 $ 23,941 $ 27,045 (1) Primarily comprised of (i) tenant requested services, including overtime heating and cooling and (ii) parking income.

Interest and Other Income, net

Interest and Other Income, net	9 Months Ended
	Sep. 30, 2021
Interest And Other Income [Abstract]
Interest and Other Income, net	1 6 . Interest and Other Income, net The following table sets forth the details of interest and other income, net. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Interest income, net $ 221 $ 364 $ 1,008 $ 1,780 Mark-to-market of investments in our deferred compensation plans (1) (83 ) 740 1,502 580 Total interest and other income, net $ 138 $ 1,104 $ 2,510 $ 2,360 (1) The change resulting from the mark-to-market of the deferred compensation plan assets is entirely offset by the change in deferred compensation plan liabilities, which is included as a component of “general and administrative” expenses on our consolidated statements of income.

Interest and Debt Expense

Interest and Debt Expense	9 Months Ended
	Sep. 30, 2021
Interest And Debt Expense [Abstract]
Interest and Debt Expense	1 7 . Interest and Debt Expense The following table sets forth the details of interest and debt expense. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Interest expense $ 33,600 $ 33,472 $ 98,613 $ 101,463 Amortization of deferred financing costs 2,666 (1) 2,320 7,306 (1) 6,957 Total interest and debt expense $ 36,266 $ 35,792 $ 105,919 $ 108,420 (1) Includes $761 of expense from the non-cash write-off of deferred financing costs in connection with the $860,000 refinancing of 1301 Avenue of the Americas in July 2021. See Note 7, Debt .

Incentive Compensation

Incentive Compensation	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Incentive Compensation	1 8 . Incentive Compensation Stock-Based Compensation Our Amended and Restated 2014 Equity Incentive Plan provides for grants of equity awards to our executive officers, non-employee directors and employees in order to attract and motivate talent for which we compete. In addition, equity awards are an effective management retention tool as they vest over multiple years based on continued employment. Equity awards are granted in the form of (i) restricted stock and (ii) long-term incentive plan (“LTIP”) units, which represent a class of partnership interests in our Operating Partnership and are typically comprised of performance-based LTIP units, time-based LTIP units and time-based appreciation only LTIP (“AOLTIP”) units. We account for all stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation 2020 Equity Grants 2020 Performance-Based Awards Program (“2020 Performance Program”) On January 11, 2021, the Compensation Committee of our Board of Directors (the “Compensation Committee”) approved the 2020 Performance Program, a multi-year performance-based long-term incentive compensation program. Under the 2020 Performance Program, participants may earn awards in the form of LTIP units based on our Total Shareholder Return (“TSR”) over a three-year four-year Time-Based Unit Awards Program (“LTIP and AOLTIP Units”) On January 11, 2021, we granted an aggregate of 579,520 LTIP units and 2,171,875 AOLTIP units to our executive officers and employees that will vest over a period of three to four years. LTIP units are similar to common units of our Operating Partnership in that they are redeemable for cash, or at our election, may be converted on a one-for-one basis into shares of our common stock. AOLTIP units are similar to stock options in that it permits the holder to realize the benefit of any increase in the per share value of our common stock above the value at the time the AOLTIP units were granted and can be converted into a number of common units of our Operating Partnership that have an aggregate value equal to such increase. The common units issued upon the conversion of AOLTIP units are redeemable for cash, or at our election, may be converted on a one-for-one basis into shares of our common stock. The fair value of LTIP units and AOLTIP units on the date of grant were $4,598,000 and $4,344,000, respectively, and these awards are being amortized into expense on a straight-line basis over the vesting period. Restricted Stock On January 11, 2021, we granted an aggregate of 166,686 shares of restricted stock to our employees that will vest over a period of four years. The fair value of the shares of restricted stock on the date of grant was $1,439,000, which is being amortized into expense on a straight-line basis over the vesting period. Completion of the 2017 Performance-Based Awards Program (“2017 Performance Program”) On January 11, 2021, the Compensation Committee determined that the performance goals set forth in the 2017 Performance Program were not satisfied during the performance measurement period, which ended on December 31, 2020. Accordingly, all of the 1,382,807 LTIP units that were granted on February 5, 2018, were forfeited, with no awards being earned. These awards had a grant date fair value of $7,009,000 and a remaining unrecognized compensation cost of $208,000 as of September 30, 2021, which will be amortized over a weighted-average period of 0.25 years.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	1 9 . Earnings Per Share The following table summarizes our net loss and the number of common shares used in the computation of basic and diluted loss per common share, which includes the weighted average number of common shares outstanding and the effect of dilutive potential common shares, if any. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands, except per share amounts) 2021 2020 2021 2020 Numerator: Continuing Operations: Net loss from continuing operations attributable to common stockholders $ (2,055 ) $ (8,921 ) $ (21,576 ) $ (15,187 ) Earnings allocated to unvested participating securities (17 ) (14 ) (54 ) (40 ) Numerator for loss from continuing operations per common share - basic and diluted (2,072 ) (8,935 ) (21,630 ) (15,227 ) Discontinued Operations: Net income from discontinued operations attributable to common stockholders - 1,963 - 5,307 Earnings allocated to unvested participating securities - (4 ) - (14 ) Numerator for income from discontinued operations per common share - basic and diluted - 1,959 - 5,293 Numerator for loss per common share - basic and diluted $ (2,072 ) $ (6,976 ) $ (21,630 ) $ (9,934 ) Denominator: Denominator for basic loss per common share - weighted average shares 218,706 221,461 218,690 223,593 Effect of dilutive stock-based compensation plans (1) - - - - Denominator for diluted loss per common share - weighted average shares 218,706 221,461 218,690 223,593 (Loss) Income per Common Share - Basic and Diluted: Continuing operations, net $ (0.01 ) $ (0.04 ) $ (0.10 ) $ (0.07 ) Discontinued operations, net - 0.01 - 0.03 Loss per common share - basic and diluted $ (0.01 ) $ (0.03 ) $ (0.10 ) $ (0.04 ) (1) The effect of dilutive securities and 22,941 weighted average share equivalents for the three months ended September 30, 2021 and 2020, respectively, and 23,785 and 23,795 weighted average share equivalents for the nine months ended September 30, 2021 and 2020, respectively, as their effect was anti-dilutive.

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Parties	20 . Related Parties Management Agreements We provide property management, leasing and other related services to certain properties owned by members of the Otto Family. We recognized fee income of $270,000 and $260,000 for the three months ended September 30, 2021 and 2020, respectively, and $1,497,000 and $967,000 for the nine months ended September 30, 2021 and 2020, respectively, in connection with these agreements, which is included as a component of “fee and other income” on our consolidated statements of income. As of September 30, 2021 and December 31, 2020, amounts owed to us under these agreements aggregated $474,000 and $34,000, respectively, which are included as a component of “accounts and other receivables” on our consolidated balance sheets. We also provide property management, asset management, leasing and other related services to our unconsolidated joint ventures and real estate funds. We recognized fee income of $5,737,000 and $6,841,000 for the three months ended September 30, 2021 and 2020, respectively, and $16,239,000 and $17,550,000 for the nine months ended September 30, 2021 and 2020, respectively, in connection with these agreements, which is included as a component of “fee and other income” on our consolidated statements of income. “accounts and other receivables” on our consolidated balance sheets. Hamburg Trust Consulting HTC 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 feeder vehicles for Fund X. Pursuant to this agreement, we have agreed to pay HTC for the costs incurred to sell investments in these funds or their feeder vehicles, including certain incremental costs incurred by HTC as a result of the engagement, plus a mark-up of 10%. HTC is 100% owned by Albert Behler, our Chairman, Chief Executive Officer and President. We incurred expenses of $127,000 and $124,000 for the three months ended September 30, 2021 and 2020, respectively, and $372,000 and $389,000 for the nine months ended September 30, 2021 and 2020, respectively, in connection with this agreement, which is included as a component of “transaction related costs” on our consolidated statements of income. As of September 30, 2021 and December 31, 2020, we owed $250,000 and $123,000, respectively, to HTC under this agreement, which are included as a component of “accounts payable and accrued expenses” on our consolidated balance sheets. Mannheim Trust A subsidiary of Mannheim Trust leases office space at 712 Fifth Avenue , our 50.0% owned unconsolidated joint venture, pursuant to a lease agreement which expires in April 2023. Dr. Martin Bussmann (a member of our Board of Directors) is also a trustee and a director of Mannheim Trust. We recognized $91,000 in each of the three months ended September 30, 2021 and 2020, and $272,000 in each of the nine months ended September 30, 2021 and 2020 for our share of rental income pursuant to this lease. Other We have entered into an agreement with Kramer Design Services (“Kramer Design”) to, among other things, develop company-wide standard branding guidelines. Kramer Design is owned by the spouse of Albert Behler, our Chairman, Chief Executive Officer and President. We recognized expenses of $10,000 for the three and nine months ended September 30, 2021 and $47,000 and $187,000 for the three and nine months ended September 30, 2020, respectively. There were no amounts owed to Kramer Design under this agreement as of September 30, 2021 and December 31, 2020. Kramer Design has also entered into agreements with 712 Fifth Avenue, our 50.0% owned unconsolidated joint venture, to, among other things, create and design marketing materials with respect to the vacant retail space at 712 Fifth Avenue. We recognized expenses of $29,000 for the nine months ended September 30, 2020 for our share of the fees incurred in connection with these agreements.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	2 1 . Commitments and Contingencies Insurance We carry commercial general liability coverage on our properties, with limits of liability customary within the industry. Similarly, we are insured against the risk of direct and indirect physical damage to our properties including coverage for the perils such as floods, earthquakes and windstorms. Our policies also cover the loss of rental income during an estimated reconstruction period. Our policies reflect limits and deductibles customary in the industry and specific to the buildings and portfolio. We also obtain title insurance policies when acquiring new properties. We currently have coverage for losses incurred in connection with both domestic and foreign terrorist-related activities. While we do carry commercial general liability insurance, property insurance and terrorism insurance with respect to our properties, these policies include limits and terms we consider commercially reasonable. In addition, there are certain losses (including, but not limited to, losses arising from known environmental conditions or acts of war) that are not insured, in full or in part, because they are either uninsurable or the cost of insurance makes it, in our belief, economically impractical to maintain such coverage. Should an uninsured loss arise against us, we would be required to use our own funds to resolve the issue, including litigation costs. We believe the policy specifications and insured limits are adequate given the relative risk of loss, the cost of the coverage and industry practice and, in consultation with our insurance advisors, we believe the properties in our portfolio are adequately insured. Other Commitments and Contingencies We are a party to various claims and routine litigation arising in the ordinary course of business. Some of these claims or others to which we may be subject from time to time, including claims arising specifically from the formation transactions, in connection with our initial public offering, may result in defense costs, settlements, fines or judgments against us, some of which are not, or cannot be, covered by insurance. Payment of any such costs, settlements, fines or judgments that are not insured could have an adverse impact on our financial position and results of operations. Should any litigation arise in connection with the formation transactions, we would contest it vigorously. In addition, certain litigation or the resolution of certain litigation may affect the availability or cost of some of our insurance coverage, which could adversely impact our results of operations and cash flow, expose us to increased risks that would be uninsured, and/or adversely impact our ability to attract officers and directors. The terms of our mortgage debt and certain side letters in place include certain restrictions and covenants which may limit, among other things, certain investments, the incurrence of additional indebtedness and liens and the disposition or other transfer of assets and interests in the borrower and other credit parties, and require compliance with certain debt yield, debt service coverage and loan to value ratios. In addition, our revolving credit facility contains representations, warranties, covenants, other agreements and events of default customary for agreements of this type with comparable companies. As of September 30, 2021, we believe we are in compliance with all of our covenants. Transfer Tax Assessments During 2017, the New York City Department of Finance issued Notices of Determination (“Notices”) assessing additional transfer taxes (including interest and penalties) in connection with the transfer of interests in certain properties during our 2014 initial public offering. We believe, after consultation with legal counsel, that the likelihood of a loss is reasonably possible, and while it is not possible to predict the outcome of these Notices, we estimate the range of loss could be between $0 and $51,000,000. Since no amount in this range is a better estimate than any other amount within the range, we have not accrued any liability arising from potential losses relating to these Notices in our consolidated financial statements.

Segments

Segments	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segments	2 2 . Segments Our reportable segments are separated by region, based on the two regions in which we conduct our business: New York and San Francisco. Our determination of segments is aligned with our method of internal reporting and the way our Chief Executive Officer, who is also our Chief Operating Decision Maker, makes key operating decisions, evaluates financial results and manages our business. The following tables provide Net Operating Income (“NOI”) for each reportable segment for the periods set forth below. For the Three Months Ended September 30, 2021 (Amounts in thousands) Total New York San Francisco Other Property-related revenues $ 172,570 $ 109,842 $ 63,527 $ (799 ) Property-related operating expenses (67,131 ) (47,545 ) (18,646 ) (940 ) NOI from unconsolidated joint ventures (including One Steuart Lane) 16,214 2,875 8,665 4,674 NOI attributable to One Steuart Lane (4,587 ) - - (4,587 ) NOI (1) $ 117,066 $ 65,172 $ 53,546 $ (1,652 ) For the Three Months Ended September 30, 2020 (Amounts in thousands) Total New York San Francisco Other (2) Property-related revenues $ 171,263 $ 106,287 $ 62,086 $ 2,890 Property-related operating expenses (69,349 ) (49,072 ) (17,825 ) (2,452 ) NOI from unconsolidated joint ventures 12,935 3,116 10,019 (200 ) NOI (1) $ 114,849 $ 60,331 $ 54,280 $ 238 For the Nine Months Ended September 30, 2021 (Amounts in thousands) Total New York San Francisco Other Property-related revenues $ 523,134 $ 329,870 $ 195,673 $ (2,409 ) Property-related operating expenses (197,821 ) (142,370 ) (52,651 ) (2,800 ) NOI from unconsolidated joint ventures (including One Steuart Lane) 37,097 8,445 24,054 4,598 NOI attributable to One Steuart Lane (4,587 ) - - (4,587 ) NOI (1) $ 357,823 $ 195,945 $ 167,076 $ (5,198 ) For the Nine Months Ended September 30, 2020 (Amounts in thousands) Total New York San Francisco Other (2) Property-related revenues $ 521,036 $ 338,543 $ 173,580 $ 8,913 Property-related operating expenses (203,526 ) (145,314 ) (50,798 ) (7,414 ) NOI from unconsolidated joint ventures 36,703 8,740 29,566 (1,603 ) NOI (1) $ 354,213 $ 201,969 $ 152,348 $ (104 ) (1) NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies. ( 2 ) NOI for the three and nine months ended September 30, 2020 includes NOI from discontinued operations. See Note 3, Discontinued Operations The following table provides a reconciliation of NOI to net loss attributable to common stockholders for the periods set forth below. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 NOI $ 117,066 $ 114,849 $ 357,823 $ 354,213 Add (subtract) adjustments to arrive to net income: Fee income 6,561 9,153 19,432 21,692 Depreciation and amortization expense (57,522 ) (58,889 ) (175,752 ) (176,032 ) General and administrative expenses (13,257 ) (16,805 ) (46,039 ) (46,955 ) NOI from unconsolidated joint ventures (including One Steuart Lane) (16,214 ) (12,935 ) (37,097 ) (36,703 ) Income (loss) from unconsolidated joint ventures 223 (4,268 ) (20,810 ) (14,444 ) NOI attributable to One Steuart Lane 4,587 - 4,587 - Interest and other income, net 138 1,104 2,510 2,360 Interest and debt expense (36,266 ) (35,792 ) (105,919 ) (108,420 ) Adjustments related to discontinued operations - (2,157 ) - (6,515 ) Other, net 189 (137 ) 101 (457 ) Income (loss) from continuing operations, before income taxes 5,505 (5,877 ) (1,164 ) (11,261 ) Income tax expense (873 ) (393 ) (2,448 ) (1,135 ) Income (loss) from continuing operations, net 4,632 (6,270 ) (3,612 ) (12,396 ) Income from discontinued operations, net - 2,147 - 5,815 Net income (loss) 4,632 (4,123 ) (3,612 ) (6,581 ) Less: net (income) loss attributable to noncontrolling interests in: Consolidated joint ventures (3,768 ) (3,566 ) (16,924 ) (5,485 ) Consolidated real estate fund (3,123 ) 79 (3,179 ) 1,291 Operating Partnership 204 652 2,139 895 Net loss attributable to common stockholders $ (2,055 ) $ (6,958 ) $ (21,576 ) $ (9,880 ) The following table provides the total assets for each of our reportable segments as of the dates set forth below. (Amounts in thousands) Total Assets as of: Total New York San Francisco Other September 30, 2021 $ 8,545,585 $ 5,375,688 $ 2,712,559 $ 457,338 December 31, 2020 8,554,097 5,388,596 2,698,983 466,518

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements are unaudited and have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in conjunction with the instructions to Form 10-Q of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures required by GAAP for complete financial statements have been condensed or omitted. These consolidated financial statements include the accounts of Paramount and its consolidated subsidiaries, including the Operating Partnership. In the opinion of management, all significant adjustments (which include only normal recurring adjustments) and eliminations (which include intercompany balances and transactions) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. The consolidated balance sheet as of December 31, 2020 was derived from audited financial statements as of that date but does not include all information and disclosures required by GAAP. These consolidated financial statements 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, 2020, as filed with the SEC.
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, 2020.
Use of Estimates	Use of Estimates 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 materially from those estimates. The results of operations for the three and nine months ended September 30, 2021, are not necessarily indicative of the operating results for the full year.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, an update to ASC Topic 740, Income Taxes. In March 2020, the FASB issued ASU 2020-04, which adds ASC Topic 848, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting In August 2020, the FASB issued ASU 2020-06, an update to ASC Topic 470, Subtopic - 20, Debt - Debt with Conversion and Other Options Derivatives and Hedging - Contracts in Entity's Own Equity Earnings Per Share, In October 2020, the FASB issued ASU 2020-10, Codification Improvements

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2021
Discontinued Operations And Disposal Groups [Abstract]
Schedule of Operations and Cash Flow from Discontinued Operations	The tables below provide the details of the results of operations and the details of the cash flows related to discontinued operations for the periods set forth below. (Amounts in thousands) For the Three Months For the Nine Months Income Statement: (1) Ended September 30, 2020 Ended September 30, 2020 Revenues: Rental revenue $ 3,556 $ 10,634 Other income 85 215 Total revenues 3,641 10,849 Expenses: Operating 1,483 4,333 Depreciation and amortization - 690 Total expenses 1,483 5,023 Income before income taxes 2,158 5,826 Income tax expense (11 ) (11 ) Income from discontinued operations, net $ 2,147 $ 5,815 (Amounts in thousands) For the Nine Months Statement of Cash Flows: (1) Ended September 30, 2020 Cash provided by operating activities $ 3,262 Additional Cash Flow information: Depreciation and amortization $ 690 (1) Represents revenues, expenses, net income and cash flow information of 1899 Pennsylvania Avenue, which was sold on December 24, 2020.

Investments in Unconsolidated_2

Investments in Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2021
Summary of Financial Information of Unconsolidated Joint Ventures	The following tables summarize our investments in unconsolidated joint ventures as of the dates thereof and the income or loss from these investments for the periods set forth below. (Amounts in thousands) Paramount As of Our Share of Investments: Ownership September 30, 2021 December 31, 2020 712 Fifth Avenue (1) 50.0% $ - $ - Market Center 67.0% 186,301 192,306 55 Second Street (2) 44.1% 89,576 92,298 111 Sutter Street 49.0% 35,956 37,818 60 Wall Street (2) 5.0% 19,216 19,164 One Steuart Lane (2) 35.0% (3) 70,656 67,505 Oder-Center, Germany (2) 9.5% 3,686 3,633 Investments in unconsolidated joint ventures $ 405,391 $ 412,724 For the Three Months Ended For the Nine Months Ended (Amounts in thousands) September 30, September 30, Our Share of Net Income (Loss): 2021 2020 2021 2020 712 Fifth Avenue (1) $ 431 $ 229 $ (10,697 ) $ 458 Market Center (2,228 ) (2,654 ) (9,272 ) (8,578 ) 55 Second Street (2) (702 ) (713 ) (2,171 ) (2,059 ) 111 Sutter Street (685 ) (884 ) (1,874 ) (2,413 ) 60 Wall Street (2) 18 10 52 (81 ) One Steuart Lane (2) 3,363 (4) (223 ) 3,138 (4) (1,773 ) Oder-Center, Germany (2) 26 (33 ) 14 2 Income (loss) from unconsolidated joint ventures $ 223 $ (4,268 ) $ (20,810 ) $ (14,444 ) (1) At December 31, 2020, our basis in the joint venture that owns 712 Fifth Avenue was negative $22,345. Since we have no further obligation to fund additional capital to the joint venture, we no longer recognize our proportionate share of earnings from the joint venture. Instead, we recognize income only to the extent we receive cash distributions from the joint venture and recognize losses to the extent we make cash contributions to the joint venture. During the nine months ended September 30, 2021, we received $1,053 in distributions from the joint venture and made an $11,750 contribution to the joint venture. Accordingly, we recognized a loss of $10,697, which is included in “loss from unconsolidated joint ventures” on our consolidated statements of income for the nine months ended September 30, 2021. Additionally, the joint venture had net losses of $3,439 for the nine months ended September 30, 2021, of which our 50.0% share was $1,720. Accordingly, our basis in the joint venture, taking into account distributions received, contributions made and our share of losses, was negative $13,368 as of September 30, 2021. (2) As of September 30, 2021, the carrying amount of our investments in 55 Second Street, 60 Wall Street, One Steuart Lane and Oder-Center is greater than our share of equity in these investments by $480, $2,628, $970 and $4,797, respectively, and primarily represents the unamortized portion of our capitalized acquisition costs. Basis differences allocated to depreciable assets are being amortized into income or loss from the unconsolidated joint ventures to which they relate, over the estimated useful life of the related assets. (3) Represents our consolidated Residential Development Fund’s (“RDF”) economic interest in One Steuart Lane, a for-sale residential condominium development project. (4) Includes RDF’s share of gain on sale of residential condominium units.
Unconsolidated Joint Ventures [Member]
Summary of Financial Information of Unconsolidated Joint Ventures	The following tables provide the combined summarized financial information of our unconsolidated joint ventures as of the dates thereof and for the periods set forth below. (Amounts in thousands) As of Balance Sheets: September 30, 2021 December 31, 2020 Real estate, net $ 2,254,141 $ 2,674,858 Cash and cash equivalents and restricted cash 210,194 120,149 Intangible assets, net 71,193 110,307 For-sale residential condominium units (1) 389,755 - Other assets 62,099 45,761 Total assets $ 2,987,382 $ 2,951,075 Notes and mortgages payable, net $ 1,846,667 $ 1,801,084 Intangible liabilities, net 20,447 26,772 Other liabilities 73,926 87,575 Total liabilities 1,941,040 1,915,431 Equity 1,046,342 1,035,644 Total liabilities and equity $ 2,987,382 $ 2,951,075 For the Three Months Ended For the Nine Months Ended (Amounts in thousands) September 30, September 30, Income Statements: 2021 2020 2021 2020 Revenues: Rental revenue $ 57,998 $ 61,340 $ 171,721 $ 182,923 Other income 92,360 (2) 625 93,698 (2) 2,149 Total revenues 150,358 61,965 265,419 185,072 Expenses: Operating 102,949 (2) 26,381 153,526 (2) 81,963 Depreciation and amortization 26,432 29,700 80,899 88,981 Total expenses 129,381 56,081 234,425 170,944 Other income (expense): Interest and other (loss) income (27 ) (45 ) (83 ) 3 Interest and debt expense (17,503 ) (14,030 ) (45,135 ) (44,244 ) Net income (loss) before income taxes 3,447 (8,191 ) (14,224 ) (30,113 ) Income tax expense (17 ) (1 ) (32 ) (45 ) Net income (loss) $ 3,430 $ (8,192 ) $ (14,256 ) $ (30,158 ) (1) Represents the cost of residential condominium units at One Steuart Lane that are available for sale. (2) Includes proceeds and cost of sales from the sale of residential condominium units at One Steuart Lane.

Intangible Assets and Liabili_2

Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets and Liabilities	The following tables summarize our intangible assets (acquired above-market leases and acquired in-place leases) and intangible liabilities (acquired below-market leases) and the related amortization as of the dates thereof and for the periods set forth below. As of (Amounts in thousands) September 30, 2021 December 31, 2020 Intangible assets: Gross amount $ 377,109 $ 436,851 Accumulated amortization (249,580 ) (283,332 ) $ 127,529 $ 153,519 Intangible liabilities: Gross amount $ 156,104 $ 163,977 Accumulated amortization (108,249 ) (107,981 ) $ 47,855 $ 55,996 For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Amortization of above and below-market leases, net (component of "rental revenue") $ 722 $ 1,910 $ 2,335 $ 4,688 Amortization of acquired in-place leases (component of "depreciation and amortization") 6,413 9,195 20,183 27,877
Schedule of Estimated Annual Amortization of Acquired Below-Market Leases, Net of Acquired Above-Market Leases and In Place Leases	The following table sets forth annual amortization of acquired above and below-market leases, net and amortization of acquired in-place leases for each of the five succeeding years commencing from January 1, 2022. (Amounts in thousands) For the Year Ending December 31, Above and Below-Market Leases, Net In-Place Leases 2022 $ 1,345 $ 21,644 2023 5,080 17,705 2024 6,020 14,248 2025 4,674 10,451 2026 2,801 7,896

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The following table summarizes our consolidated outstanding debt. Interest Rate Maturity Fixed/ as of As of (Amounts in thousands) Date Variable Rate September 30, 2021 September 30, 2021 December 31, 2020 Notes and mortgages payable: 1633 Broadway (1) Dec-2029 Fixed 2.99 % $ 1,250,000 $ 1,250,000 One Market Plaza (1) Feb-2024 Fixed 4.03 % 975,000 975,000 1301 Avenue of the Americas Aug-2026 Fixed (2) 2.46 % 500,000 500,000 Aug-2026 L + 356 bps (3) 3.65 % 360,000 350,000 2.95 % 860,000 850,000 31 West 52nd Street June-2026 Fixed 3.80 % 500,000 500,000 300 Mission Street (1) Oct-2023 Fixed 3.65 % 273,000 244,434 Total notes and mortgages payable 3.40 % 3,858,000 3,819,434 Less: unamortized deferred financing costs (23,555 ) (18,695 ) Total notes and mortgages payable, net $ 3,834,445 $ 3,800,739 $1.0 Billion Revolving Credit Facility Jan-2022 (4) L + 115 bps n/a $ - $ - (1) Our ownership interests in 1633 Broadway, One Market Plaza and 300 Mission Street are 90.0%, 49.0% and 31.1%, respectively. (2) Represents variable rate loans that have been fixed by interest rate swaps through August 2024. See Note 8, Derivative Instruments and Hedging Activities. (3) Represents variable rate loans, where LIBOR has been capped at 2.00% Derivative Instruments and Hedging Activities . (4) The $1.0 billion revolving credit facility matures on January 10, 2022 and has two six-month extension options.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swaps	The table below provide additional details on our interest rate swaps that are designated as cash flow hedges. Notional Strike Fair Value as of Property Amount Effective Date Maturity Date Rate September 30, 2021 (Amounts in thousands) 1301 Avenue of the Americas $ 500,000 Jul-2021 Aug-2024 0.46 % $ 1,053 Total interest rate swap assets designated as cash flow hedges (included in "other assets") $ 1,053

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2021
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Summary of Changes in Accumulated Other Comprehensive Loss by Component	The following table sets forth changes in accumulated other comprehensive loss by component for the three and nine months ended September 30, 2021 and 2020, including amounts attributable to noncontrolling interests in the Operating Partnership. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Amount of income related to the cash flow hedges recognized in other comprehensive loss (1) $ 671 $ - $ 671 $ - Amounts reclassified from accumulated other comprehensive loss increasing interest and debt expense (1) 324 - 324 - Amount of (loss) income related to unconsolidated joint ventures recognized in other comprehensive loss (2) (88 ) (62 ) 2,693 (16,734 ) Amounts reclassified from accumulated other comprehensive loss increasing loss from unconsolidated joint ventures (2) 1,016 966 2,984 1,281 (1) Represents amounts related to interest rate swaps with an aggregate notional value of $500,000 and interest rate caps with an aggregate notional value of $360,000, which were designated as cash flow hedges. (2) Primarily represents amounts related to interest rate swap with a notional value of $402,000, which was designated as cash flow hedge.

Variable Interest Entities ("_2

Variable Interest Entities ("VIEs") (Tables)	9 Months Ended
	Sep. 30, 2021
Consolidated VIEs [Member]
Summary of Assets and Liabilities of Consolidated Variable Interest Entities	The following table summarizes the assets and liabilities of consolidated VIEs of the Operating Partnership As of (Amounts in thousands) September 30, 2021 December 31, 2020 Real estate, net $ 3,437,064 $ 3,470,766 Cash and cash equivalents and restricted cash 206,019 134,647 Investments in unconsolidated joint ventures 70,656 67,505 Accounts and other receivables 3,887 6,871 Deferred rent receivable 202,051 192,401 Deferred charges, net 50,621 55,156 Intangible assets, net 65,742 76,545 Other assets 34,250 21,496 Total VIE assets $ 4,070,290 $ 4,025,387 Notes and mortgages payable, net $ 2,487,363 $ 2,457,272 Accounts payable and accrued expenses 59,348 51,590 Intangible liabilities, net 29,084 33,566 Other liabilities 5,842 4,486 Total VIE liabilities $ 2,581,637 $ 2,546,914
Unconsolidated VIEs [Member]
Summary of Investments in Unconsolidated Real Estate Funds and Maximum Risk of Loss from Investments	The following table summarizes our investments in these unconsolidated real estate funds and the maximum risk of loss from these investments. As of (Amounts in thousands) September 30, 2021 December 31, 2020 Investments $ 12,225 $ 12,917 Asset management fees and other receivables 23 561 Maximum risk of loss $ 12,248 $ 13,478

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Assets Measured at Fair Value	The following table summarizes the fair value of our financial assets that are measured at fair value on our consolidated balance sheets as of the dates set forth below, based on their levels in the fair value hierarchy. As of September 30, 2021 (Amounts in thousands) Total Level 1 Level 2 Level 3 Marketable securities (included in "other assets") $ 21,706 $ 21,706 $ - $ - Interest rate swap assets (included in "other assets") 1,053 - 1,053 - Interest rate cap assets (included in "other assets") 82 - 82 - Total assets $ 22,841 $ 21,706 $ 1,135 $ - As of December 31, 2020 (Amounts in thousands) Total Level 1 Level 2 Level 3 Marketable securities (included in "other assets") $ 17,178 $ 17,178 $ - $ - Total assets $ 17,178 $ 17,178 $ - $ -
Summary of Carrying Amounts and Fair Value of Financial Instruments	The following table summarizes the carrying amounts and fair value of these financial instruments as of the dates set forth below. As of September 30, 2021 As of December 31, 2020 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Notes and mortgages payable $ 3,858,000 $ 3,902,911 $ 3,819,434 $ 3,871,644 Revolving credit facility - - - - Total liabilities $ 3,858,000 $ 3,902,911 $ 3,819,434 $ 3,871,644

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Schedule of Rental Revenues	The following table sets forth the details of our rental revenue. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Rental revenue: Fixed $ 158,400 $ 153,065 (1) $ 478,670 $ 467,609 (1) Variable 12,451 12,355 39,955 (2) 37,225 Total rental revenue $ 170,851 $ 165,420 $ 518,625 $ 504,834 (1) Includes (2) Includes $5,051 of income in connection with a tenant’s lease termination at 300 Mission Street.
Schedule of Future Undiscounted Cash Flows Under Non-Cancellable Operating Leases	The following table is a schedule of future undiscounted cash flows under non-cancellable operating leases in effect as of September 30, 2021, for the three-month period from October 1, 2021 through December 31, 2021, and each of the five succeeding years and thereafter commencing January 1, 2022. (Amounts in thousands) 2021 $ 161,526 2022 634,446 2023 620,383 2024 596,696 2025 541,026 2026 445,087 Thereafter 2,168,408 Total $ 5,167,572

Fee and Other Income (Tables)

Fee and Other Income (Tables)	9 Months Ended
	Sep. 30, 2021
Disaggregation Of Revenue [Abstract]
Summary of Fee and Other Income	The following table sets forth the details of our fee and other income. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Fee income: Asset management $ 3,280 $ 3,636 $ 10,175 $ 10,728 Property management 2,176 2,270 6,457 6,959 Acquisition, disposition, leasing and other 1,105 3,247 2,800 4,005 Total fee income 6,561 9,153 19,432 21,692 Other income (1) 1,719 2,202 4,509 5,353 Total fee and other income $ 8,280 $ 11,355 $ 23,941 $ 27,045 (1) Primarily comprised of (i) tenant requested services, including overtime heating and cooling and (ii) parking income.

Interest and Other Income, net

Interest and Other Income, net (Tables)	9 Months Ended
	Sep. 30, 2021
Interest And Other Income [Abstract]
Schedule of Interest and Other Income, net	The following table sets forth the details of interest and other income, net. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Interest income, net $ 221 $ 364 $ 1,008 $ 1,780 Mark-to-market of investments in our deferred compensation plans (1) (83 ) 740 1,502 580 Total interest and other income, net $ 138 $ 1,104 $ 2,510 $ 2,360 (1) The change resulting from the mark-to-market of the deferred compensation plan assets is entirely offset by the change in deferred compensation plan liabilities, which is included as a component of “general and administrative” expenses on our consolidated statements of income.

Interest and Debt Expense (Tabl

Interest and Debt Expense (Tables)	9 Months Ended
	Sep. 30, 2021
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 For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 Interest expense $ 33,600 $ 33,472 $ 98,613 $ 101,463 Amortization of deferred financing costs 2,666 (1) 2,320 7,306 (1) 6,957 Total interest and debt expense $ 36,266 $ 35,792 $ 105,919 $ 108,420 (1) Includes $761 of expense from the non-cash write-off of deferred financing costs in connection with the $860,000 refinancing of 1301 Avenue of the Americas in July 2021. See Note 7, Debt .

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Summary of Computation of Earnings Per Share	The following table summarizes our net loss and the number of common shares used in the computation of basic and diluted loss per common share, which includes the weighted average number of common shares outstanding and the effect of dilutive potential common shares, if any. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands, except per share amounts) 2021 2020 2021 2020 Numerator: Continuing Operations: Net loss from continuing operations attributable to common stockholders $ (2,055 ) $ (8,921 ) $ (21,576 ) $ (15,187 ) Earnings allocated to unvested participating securities (17 ) (14 ) (54 ) (40 ) Numerator for loss from continuing operations per common share - basic and diluted (2,072 ) (8,935 ) (21,630 ) (15,227 ) Discontinued Operations: Net income from discontinued operations attributable to common stockholders - 1,963 - 5,307 Earnings allocated to unvested participating securities - (4 ) - (14 ) Numerator for income from discontinued operations per common share - basic and diluted - 1,959 - 5,293 Numerator for loss per common share - basic and diluted $ (2,072 ) $ (6,976 ) $ (21,630 ) $ (9,934 ) Denominator: Denominator for basic loss per common share - weighted average shares 218,706 221,461 218,690 223,593 Effect of dilutive stock-based compensation plans (1) - - - - Denominator for diluted loss per common share - weighted average shares 218,706 221,461 218,690 223,593 (Loss) Income per Common Share - Basic and Diluted: Continuing operations, net $ (0.01 ) $ (0.04 ) $ (0.10 ) $ (0.07 ) Discontinued operations, net - 0.01 - 0.03 Loss per common share - basic and diluted $ (0.01 ) $ (0.03 ) $ (0.10 ) $ (0.04 ) (1) The effect of dilutive securities and 22,941 weighted average share equivalents for the three months ended September 30, 2021 and 2020, respectively, and 23,785 and 23,795 weighted average share equivalents for the nine months ended September 30, 2021 and 2020, respectively, as their effect was anti-dilutive.

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of NOI for Each Reportable Segment Information	The following tables provide Net Operating Income (“NOI”) for each reportable segment for the periods set forth below. For the Three Months Ended September 30, 2021 (Amounts in thousands) Total New York San Francisco Other Property-related revenues $ 172,570 $ 109,842 $ 63,527 $ (799 ) Property-related operating expenses (67,131 ) (47,545 ) (18,646 ) (940 ) NOI from unconsolidated joint ventures (including One Steuart Lane) 16,214 2,875 8,665 4,674 NOI attributable to One Steuart Lane (4,587 ) - - (4,587 ) NOI (1) $ 117,066 $ 65,172 $ 53,546 $ (1,652 ) For the Three Months Ended September 30, 2020 (Amounts in thousands) Total New York San Francisco Other (2) Property-related revenues $ 171,263 $ 106,287 $ 62,086 $ 2,890 Property-related operating expenses (69,349 ) (49,072 ) (17,825 ) (2,452 ) NOI from unconsolidated joint ventures 12,935 3,116 10,019 (200 ) NOI (1) $ 114,849 $ 60,331 $ 54,280 $ 238 For the Nine Months Ended September 30, 2021 (Amounts in thousands) Total New York San Francisco Other Property-related revenues $ 523,134 $ 329,870 $ 195,673 $ (2,409 ) Property-related operating expenses (197,821 ) (142,370 ) (52,651 ) (2,800 ) NOI from unconsolidated joint ventures (including One Steuart Lane) 37,097 8,445 24,054 4,598 NOI attributable to One Steuart Lane (4,587 ) - - (4,587 ) NOI (1) $ 357,823 $ 195,945 $ 167,076 $ (5,198 ) For the Nine Months Ended September 30, 2020 (Amounts in thousands) Total New York San Francisco Other (2) Property-related revenues $ 521,036 $ 338,543 $ 173,580 $ 8,913 Property-related operating expenses (203,526 ) (145,314 ) (50,798 ) (7,414 ) NOI from unconsolidated joint ventures 36,703 8,740 29,566 (1,603 ) NOI (1) $ 354,213 $ 201,969 $ 152,348 $ (104 ) (1) NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies. ( 2 ) NOI for the three and nine months ended September 30, 2020 includes NOI from discontinued operations. See Note 3, Discontinued Operations
Schedule of Reconciliation of NOI to Net Loss Attributable to Common Stockholders	The following table provides a reconciliation of NOI to net loss attributable to common stockholders for the periods set forth below. For the Three Months Ended For the Nine Months Ended September 30, September 30, (Amounts in thousands) 2021 2020 2021 2020 NOI $ 117,066 $ 114,849 $ 357,823 $ 354,213 Add (subtract) adjustments to arrive to net income: Fee income 6,561 9,153 19,432 21,692 Depreciation and amortization expense (57,522 ) (58,889 ) (175,752 ) (176,032 ) General and administrative expenses (13,257 ) (16,805 ) (46,039 ) (46,955 ) NOI from unconsolidated joint ventures (including One Steuart Lane) (16,214 ) (12,935 ) (37,097 ) (36,703 ) Income (loss) from unconsolidated joint ventures 223 (4,268 ) (20,810 ) (14,444 ) NOI attributable to One Steuart Lane 4,587 - 4,587 - Interest and other income, net 138 1,104 2,510 2,360 Interest and debt expense (36,266 ) (35,792 ) (105,919 ) (108,420 ) Adjustments related to discontinued operations - (2,157 ) - (6,515 ) Other, net 189 (137 ) 101 (457 ) Income (loss) from continuing operations, before income taxes 5,505 (5,877 ) (1,164 ) (11,261 ) Income tax expense (873 ) (393 ) (2,448 ) (1,135 ) Income (loss) from continuing operations, net 4,632 (6,270 ) (3,612 ) (12,396 ) Income from discontinued operations, net - 2,147 - 5,815 Net income (loss) 4,632 (4,123 ) (3,612 ) (6,581 ) Less: net (income) loss attributable to noncontrolling interests in: Consolidated joint ventures (3,768 ) (3,566 ) (16,924 ) (5,485 ) Consolidated real estate fund (3,123 ) 79 (3,179 ) 1,291 Operating Partnership 204 652 2,139 895 Net loss attributable to common stockholders $ (2,055 ) $ (6,958 ) $ (21,576 ) $ (9,880 )
Schedule of Total Assets for Each Reportable Segments Information	The following table provides the total assets for each of our reportable segments as of the dates set forth below. (Amounts in thousands) Total Assets as of: Total New York San Francisco Other September 30, 2021 $ 8,545,585 $ 5,375,688 $ 2,712,559 $ 457,338 December 31, 2020 8,554,097 5,388,596 2,698,983 466,518

Organization and Business - Add

Organization and Business - Additional Information (Details) ft² in Millions	9 Months Ended
	Sep. 30, 2021ft²Properties
Real Estate Properties [Line Items]
Number of Real Estate Properties | Properties	13
Area of office and retail properties | ft²	12.9
Variable Interest Entities [Member] | Paramount Group Operating Partnership [Member]
Real Estate Properties [Line Items]
Percentage of ownership in operating partnership	90.90%

Discontinued Operations - Sched

Discontinued Operations - Schedule of Results of Operations Related to Discontinued Operations (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 30, 2020	Sep. 30, 2020
Expenses:
Income from discontinued operations, net		$ 2,147	$ 5,815
1899 Pennsylvania Avenue [Member]
Revenues:
Rental revenue	[1]	3,556	10,634
Other income	[1]	85	215
Total revenues	[1]	3,641	10,849
Expenses:
Operating	[1]	1,483	4,333
Depreciation and amortization	[1]		690
Total expenses	[1]	1,483	5,023
Income before income taxes	[1]	2,158	5,826
Income tax expense	[1]	(11)	(11)
Income from discontinued operations, net	[1]	$ 2,147	$ 5,815
[1]	Represents revenues, expenses, net income and cash flow information of 1899 Pennsylvania Avenue, which was sold on December 24, 2020.

Discontinued Operations - Sch_2

Discontinued Operations - Schedule of Cash Flows from Discontinued Operations (Details) - 1899 Pennsylvania Avenue [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)	[1]
Statement of Cash Flows:
Cash provided by operating activities	$ 3,262
Additional Cash Flow information:
Depreciation and amortization	$ 690
[1]	Represents revenues, expenses, net income and cash flow information of 1899 Pennsylvania Avenue, which was sold on December 24, 2020.

Investments in Unconsolidated_3

Investments in Unconsolidated Joint Ventures - Summary of Investments and Income from Investments In Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Schedule Of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures	$ 405,391		$ 405,391		$ 412,724
Income (loss) from unconsolidated joint ventures	$ 223	$ (4,268)	$ (20,810)	$ (14,444)
712 Fifth Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	50.00%		50.00%
Income (loss) from unconsolidated joint ventures	$ 431	229	$ (10,697)	458
Market Center [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	67.00%		67.00%
Investments in unconsolidated joint ventures	$ 186,301		$ 186,301		192,306
Income (loss) from unconsolidated joint ventures	$ (2,228)	(2,654)	$ (9,272)	(8,578)
55 Second Street [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	44.10%		44.10%
Investments in unconsolidated joint ventures	$ 89,576		$ 89,576		92,298
Income (loss) from unconsolidated joint ventures	$ (702)	(713)	$ (2,171)	(2,059)
111 Sutter Street [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	49.00%		49.00%
Investments in unconsolidated joint ventures	$ 35,956		$ 35,956		37,818
Income (loss) from unconsolidated joint ventures	$ (685)	(884)	$ (1,874)	(2,413)
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	$ 19,216		$ 19,216		19,164
Income (loss) from unconsolidated joint ventures	$ 18	10	$ 52	(81)
One Steuart Lane [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method paramount ownership percentage	35.00%		35.00%
Investments in unconsolidated joint ventures	$ 70,656		$ 70,656		67,505
Income (loss) from unconsolidated joint ventures	$ 3,363	(223)	$ 3,138	(1,773)
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	$ 3,686		$ 3,686		$ 3,633
Income (loss) from unconsolidated joint ventures	$ 26	$ (33)	$ 14	$ 2

Investments in Unconsolidated_4

Investments in Unconsolidated Joint Ventures - Summary of Investments and Income from Investments In Unconsolidated Joint Ventures (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Schedule Of Equity Method Investments [Line Items]
Distributions of earnings from unconsolidated joint ventures			$ 3,950	$ 1,688
Contribution to the joint venture			11,750
Loss from unconsolidated joint ventures	$ (223)	$ 4,268	20,810	14,444
712 Fifth Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Distributions made in excess of share of earnings recognized negative basis			13,368		$ 22,345
Distributions of earnings from unconsolidated joint ventures			1,053
Contribution to the joint venture			11,750
Loss from unconsolidated joint ventures	(431)	(229)	10,697	(458)
Income (Loss) of investment accounted under equity method accounting			(3,439)
Proportionate share of income (loss) of equity method investment not recognized			(1,720)
55 Second Street [Member]
Schedule Of Equity Method Investments [Line Items]
Loss from unconsolidated joint ventures	702	713	2,171	2,059
Difference between carrying amount of investment and equity	480		480
60 Wall Street [Member]
Schedule Of Equity Method Investments [Line Items]
Loss from unconsolidated joint ventures	(18)	(10)	(52)	81
Difference between carrying amount of investment and equity	2,628		2,628
One Steuart Lane [Member]
Schedule Of Equity Method Investments [Line Items]
Loss from unconsolidated joint ventures	(3,363)	223	(3,138)	1,773
Difference between carrying amount of investment and equity	970		970
Oder-Center, Germany [Member]
Schedule Of Equity Method Investments [Line Items]
Loss from unconsolidated joint ventures	(26)	$ 33	(14)	$ (2)
Difference between carrying amount of investment and equity	$ 4,797		$ 4,797

Investments in Unconsolidated_5

Investments in Unconsolidated Joint Ventures - Summary of Financial Information of Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Schedule Of Equity Method Investments [Line Items]
Total assets	[1]	$ 8,545,585		$ 8,545,585		$ 8,554,097
Total liabilities	[1]	4,082,368		4,082,368		4,038,363
Equity		3,588,681		3,588,681		3,653,177
Total liabilities and equity		8,545,585		8,545,585		8,554,097
Rental revenue		170,851	$ 165,420	518,625	$ 504,834
Other income		1,719	2,202	4,509	5,353
Total revenues		179,131	176,775	542,566	531,879
Operating		67,131	67,865	197,821	199,192
Depreciation and amortization		57,522	58,889	175,752	176,032
Total expenses		137,997	143,640	420,115	422,721
Interest and other (loss) income		138	1,104	2,510	2,360
Interest and debt expense		(36,266)	(35,792)	(105,919)	(108,420)
Net income (loss) before income taxes		5,505	(5,877)	(1,164)	(11,261)
Income tax expense		(873)	(393)	(2,448)	(1,135)
Net loss attributable to common stockholders		(2,055)	(6,958)	(21,576)	(9,880)
Unconsolidated Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Real estate, net		2,254,141		2,254,141		2,674,858
Cash and cash equivalents and restricted cash		210,194		210,194		120,149
Intangible assets, net		71,193		71,193		110,307
For-sale residential condominium units (1)		389,755		389,755
Other assets		62,099		62,099		45,761
Total assets		2,987,382		2,987,382		2,951,075
Notes and mortgages payable, net		1,846,667		1,846,667		1,801,084
Intangible liabilities, net		20,447		20,447		26,772
Other liabilities		73,926		73,926		87,575
Total liabilities		1,941,040		1,941,040		1,915,431
Equity		1,046,342		1,046,342		1,035,644
Total liabilities and equity		2,987,382		2,987,382		$ 2,951,075
Rental revenue		57,998	61,340	171,721	182,923
Other income		92,360	625	93,698	2,149
Total revenues		150,358	61,965	265,419	185,072
Operating		102,949	26,381	153,526	81,963
Depreciation and amortization		26,432	29,700	80,899	88,981
Total expenses		129,381	56,081	234,425	170,944
Interest and other (loss) income		(27)	(45)	(83)	3
Interest and debt expense		(17,503)	(14,030)	(45,135)	(44,244)
Net income (loss) before income taxes		3,447	(8,191)	(14,224)	(30,113)
Income tax expense		(17)	(1)	(32)	(45)
Net loss attributable to common stockholders		$ 3,430	$ (8,192)	$ (14,256)	$ (30,158)
[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 90.9% as of September 30, 2021. As of September 30, 2021, the Operating Partnership includes $4,070,290 and $2,581,637 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”).

Investments in Unconsolidated_6

Investments in Unconsolidated Real Estate Funds - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Investment Holdings [Line Items]
Investments in unconsolidated real estate funds	$ 12,225,000		$ 12,225,000		$ 12,917,000
Income (loss) from unconsolidated real estate funds	276,000	$ (56,000)	604,000	$ 85,000
Fund X [Member]
Investment Holdings [Line Items]
Capital commitments			192,000,000
Capital commitments invested	78,968,000		78,968,000
Capital commitments reserved for future funding	$ 34,424,000		$ 34,424,000
Alternative Investment Fund, Interest Rate	7.80%		7.80%
Fund VIII [Member]
Investment Holdings [Line Items]
Alternative Investment Fund, Interest Rate	1.30%		1.30%

Intangible Assets and Intangibl

Intangible Assets and Intangible Liabilities - Summary of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Intangible assets:
Gross amount	$ 377,109		$ 377,109		$ 436,851
Accumulated amortization	(249,580)		(249,580)		(283,332)
Intangible assets, Net	127,529		127,529		153,519
Intangible liabilities:
Gross amount	156,104		156,104		163,977
Accumulated amortization	(108,249)		(108,249)		(107,981)
Intangible Liabilities, Net	47,855		47,855		$ 55,996
Leases, Acquired-in-Place, Market Adjustment [Member]
Intangible liabilities:
Amortization of above and below-market leases, net (component of "rental revenue")	722	$ 1,910	2,335	$ 4,688
Leases, Acquired-in-Place [Member]
Intangible liabilities:
Amortization of acquired in-place leases (component of "depreciation and amortization")	$ 6,413	$ 9,195	$ 20,183	$ 27,877

Intangible Assets and Intangi_2

Intangible Assets and Intangible Liabilities - Schedule of Estimated Annual Amortization of Acquired Below-Market Leases, Net of Acquired Above-Market Leases and In Place Leases (Details) $ in Thousands	Sep. 30, 2021USD ($)
Finite Lived Intangible Assets [Line Items]
2022	$ (1,345)
2023	(5,080)
2024	(6,020)
2025	(4,674)
2026	(2,801)
Leases, Acquired-in-Place [Member]
Finite Lived Intangible Assets [Line Items]
2022	21,644
2023	17,705
2024	14,248
2025	10,451
2026	$ 7,896

Debt - Additional Information (

Debt - Additional Information (Details) ft² in Millions	Jul. 29, 2021USD ($)ft²	Sep. 30, 2021USD ($)
Debt Instrument [Line Items]
Repayment of loan	$ 850,000,000	$ 850,000,000
1301 Avenue of the Americas [Member]
Debt Instrument [Line Items]
Debt Refinanced	$ 860,000,000
Initial weighted average interest rate	2.95%
Area of office building | ft²	1.7
Interest-only loan, Term	5 years
1301 Avenue of the Americas [Member] | Fixed Rate Tranche [Member]
Debt Instrument [Line Items]
Debt Refinanced	$ 500,000,000
1301 Avenue of the Americas [Member] | Variable Rate Tranche [Member]
Debt Instrument [Line Items]
Debt Refinanced	$ 360,000,000

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate	3.40%
Notes and mortgages payable	$ 3,858,000	$ 3,819,434
Credit Facility	0	0
Less: unamortized deferred financing costs	(23,555)	(18,695)
Total notes and mortgages payable, net	$ 3,834,445	3,800,739
Credit Facility With Variable Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date of debt	2022-01
Credit Facility With Variable Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Fixed/Variable Rate	1.15%
1633 Broadway [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2029-12
Notes and mortgages payable, Interest Rate	2.99%
Notes and mortgages payable	$ 1,250,000	1,250,000
One Market Plaza [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2024-02
Notes and mortgages payable, Interest Rate	4.03%
Notes and mortgages payable	$ 975,000	975,000
1301 Avenue of the Americas [Member]
Debt Instrument [Line Items]
Notes and mortgages payable, Interest Rate	2.95%
Notes and mortgages payable	$ 860,000	850,000
1301 Avenue of the Americas [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2026-08
Notes and mortgages payable, Interest Rate	2.46%
Notes and mortgages payable	$ 500,000	500,000
1301 Avenue of the Americas [Member] | Mortgages and Notes Payable with Variable Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2026-08
Notes and mortgages payable, Interest Rate	3.65%
Notes and mortgages payable	$ 360,000	350,000
1301 Avenue of the Americas [Member] | Mortgages and Notes Payable with Variable Rate [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Fixed/Variable Rate	3.56%
31 West 52nd Street [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2026-06
Notes and mortgages payable, Interest Rate	3.80%
Notes and mortgages payable	$ 500,000	500,000
300 Mission Street [Member] | Mortgages and Notes Payable with Fixed Rate [Member]
Debt Instrument [Line Items]
Maturity date of debt	2023-10
Notes and mortgages payable, Interest Rate	3.65%
Notes and mortgages payable	$ 273,000	$ 244,434

Debt - Summary of Outstanding_2

Debt - Summary of Outstanding Debt (Parenthetical) (Details) - USD ($) $ in Billions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Revolving Credit Facility [Member] | Credit Facility With Variable Rate [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1	$ 1
1633 Broadway [Member]
Debt Instrument [Line Items]
Ownership percentage of Property	90.00%	90.00%
One Market Plaza [Member]
Debt Instrument [Line Items]
Ownership percentage of Property	49.00%	49.00%
300 Mission Street [Member]
Debt Instrument [Line Items]
Ownership percentage of Property	31.10%	31.10%
1301 Avenue of the Americas [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mortgages and Notes Payable with Variable Rate [Member]
Debt Instrument [Line Items]
Capped interest rate	2.00%	2.00%

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Jul. 29, 2021
1301 Avenue of the Americas [Member]
Derivative [Line Items]
Derivative, notional amount	$ 500,000,000	$ 500,000,000
LIBOR rate	0.46%	0.46%
Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Changes in fair value of these interest rate swaps and interest rate caps	$ 995,000	$ 995,000
Amount to be recognized in accumulated other comprehensive income (loss) reclassified to interest expense for next twelve months		1,687,000
Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member] | Maximum [Member] | 1301 Avenue of the Americas [Member]
Derivative [Line Items]
Derivative liability, aggregate notional amount			$ 860,000,000
Designated As Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative liability, aggregate notional amount	500,000,000	500,000,000
Designated As Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | London Inter bank Offered Rate Libor Swap Rate [Member] | 1301 Avenue of the Americas [Member]
Derivative [Line Items]
Derivative, notional amount			$ 500,000,000
LIBOR rate			0.46%
Designated As Hedging Instrument [Member] | Interest Rate Cap [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative liability, aggregate notional amount	$ 360,000,000	$ 360,000,000
Designated As Hedging Instrument [Member] | Interest Rate Cap [Member] | Cash Flow Hedging [Member] | London Inter bank Offered Rate Libor Swap Rate [Member] | 1301 Avenue of the Americas [Member]
Derivative [Line Items]
Derivative, notional amount			$ 360,000,000
Aggregate notional percentage			2.00%

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Interest Rate Swaps (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Derivative [Line Items]
Total interest rate swap assets designated as cash flow hedges (included in "other assets")	$ 1,053
1301 Avenue of the Americas [Member]
Derivative [Line Items]
Notional Amount	$ 500,000
Effective Date	Jul. 31, 2021
Maturity Date	Aug. 31, 2024
LIBOR rate	0.46%
Total interest rate swap assets designated as cash flow hedges (included in "other assets")	$ 1,053

Equity - Additional Information

Equity - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Nov. 05, 2019
Class Of Stock [Line Items]
Common stock shares authorized amount					$ 200,000,000
Stock repurchased, price per share			$ 8.98	$ 8.69
Stock repurchased, value	$ 8,520,000		$ 108,520,000	$ 120,000,000
Stock repurchase amount available for future repurchase		$ 80,000,000
Common Stock [Member]
Class Of Stock [Line Items]
Stock repurchased	1,233,000	0	12,090,055	13,813,158
Stock repurchased, value	$ 12,000		$ 121,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Summary of Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Amount of income related to the cash flow hedges recognized in other comprehensive loss	$ 671		$ 671
Amounts reclassified from accumulated other comprehensive loss increasing interest and debt expense	324		324
Amount of (loss) income related to unconsolidated joint ventures recognized in other comprehensive loss	(88)	$ (62)	2,693	$ (16,734)
Amounts reclassified from accumulated other comprehensive loss increasing loss from unconsolidated joint ventures	$ 1,016	$ 966	$ 2,984	$ 1,281

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Summary of Changes in Accumulated Other Comprehensive Loss by Component (Parenthetical) (Details) - Designated As Hedging Instrument [Member]	Sep. 30, 2021USD ($)
Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Aggregate notional amount	$ 500,000,000
Interest Rate Cap [Member] | Cash Flow Hedging [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Aggregate notional amount	360,000,000
Unconsolidated Joint Ventures [Member] | Interest Rate Swap [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Aggregate notional amount	$ 402,000,000

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Noncontrolling Interest [Abstract]
Consolidated joint ventures	$ 435,142	$ 437,161
Noncontrolling interests in consolidated real estate fund aggregated	82,209	79,017
Operating partnerships	357,185	346,379
Redemption value	$ 195,973	$ 187,640
Common units conversion basis	one-for-one

Variable Interest Entities ("_3

Variable Interest Entities ("VIEs") - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021
Variable Interest Entities [Member] | Paramount Group Operating Partnership [Member]
Variable Interest Entity [Line Items]
Percentage of ownership in operating partnership	90.90%

Variable Interest Entities ("_4

Variable Interest Entities ("VIEs") - Summary of Assets and Liabilities of Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Real estate, net		$ 6,928,466	$ 6,996,618
Cash and cash equivalents and restricted cash		522,546	465,324	$ 546,907	$ 331,487
Deferred rent receivable		338,165	330,239
Deferred charges, net		115,658	116,278
Intangible assets, net		127,529	153,519
Other assets		84,220	48,976
Total assets	[1]	8,545,585	8,554,097
Notes and mortgages payable, net		3,834,445	3,800,739
Accounts payable and accrued expenses		117,758	101,901
Intangible liabilities, net		47,855	55,996
Other liabilities		65,413	62,931
Total liabilities	[1]	4,082,368	4,038,363
Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Real estate, net		3,437,064	3,470,766
Cash and cash equivalents and restricted cash		206,019	134,647
Investments in unconsolidated joint ventures		70,656	67,505
Accounts and other receivables		3,887	6,871
Deferred rent receivable		202,051	192,401
Deferred charges, net		50,621	55,156
Intangible assets, net		65,742	76,545
Other assets		34,250	21,496
Total assets		4,070,290	4,025,387
Notes and mortgages payable, net		2,487,363	2,457,272
Accounts payable and accrued expenses		59,348	51,590
Intangible liabilities, net		29,084	33,566
Other liabilities		5,842	4,486
Total liabilities		$ 2,581,637	$ 2,546,914
[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 90.9% as of September 30, 2021. As of September 30, 2021, the Operating Partnership includes $4,070,290 and $2,581,637 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”).

Variable Interest Entities ("_5

Variable Interest Entities ("VIEs") - Summary of Investments in Unconsolidated Real Estate Funds and Maximum Risk of Loss from Investments (Details) - Unconsolidated Real Estate Funds [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Carrying Value of Investments [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	$ 12,225	$ 12,917
Asset Management Fees and Other Receivables [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	23	561
Maximum Risk of Loss [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated real estate funds	$ 12,248	$ 13,478

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Assets Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities (included in "other assets")	$ 21,706	$ 17,178
Total assets	22,841	17,178
Interest Rate Swap [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap assets (included in "other assets")	1,053
Interest Rate Cap [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap assets (included in "other assets")	82
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities (included in "other assets")	21,706	17,178
Total assets	21,706	$ 17,178
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	1,135
Level 2 [Member] | Interest Rate Swap [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap assets (included in "other assets")	1,053
Level 2 [Member] | Interest Rate Cap [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap assets (included in "other assets")	$ 82

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Carrying Amounts and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes and mortgages payable	$ 3,858,000	$ 3,819,434
Total liabilities	3,858,000	3,819,434
Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes and mortgages payable	3,902,911	3,871,644
Total liabilities	$ 3,902,911	$ 3,871,644

Leases - Additional Information

Leases - Additional Information (Details)	Sep. 30, 2021
Minimum [Member]
Lessor Lease Description [Line Items]
Lease term	5 years
Maximum [Member]
Lessor Lease Description [Line Items]
Lease term	15 years

Leases - Schedule of Rental Rev

Leases - Schedule of Rental Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation Of Revenue [Abstract]
Fixed rental revenues	$ 158,400	$ 153,065	$ 478,670	$ 467,609
Variable rental revenues	12,451	12,355	39,955	37,225
Total rental revenue	$ 170,851	$ 165,420	$ 518,625	$ 504,834

Leases - Schedule of Rental R_2

Leases - Schedule of Rental Revenues (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation Of Revenue [Line Items]
Non-cash write-offs, primarily for straight-line rent receivables		$ 14,863		$ 26,172
Uncollectible accounts receivable				2,051
Variable rental revenues	$ 12,451	$ 12,355	$ 39,955	$ 37,225
Tenant Lease Termination [Member]
Disaggregation Of Revenue [Line Items]
Variable rental revenues			$ 5,051

Leases - Schedule of Future Und

Leases - Schedule of Future Undiscounted Cash Flows Under Non-Cancellable Operating Leases (Details) $ in Thousands	Sep. 30, 2021USD ($)
Leases [Abstract]
2021	$ 161,526
2022	634,446
2023	620,383
2024	596,696
2025	541,026
2026	445,087
Thereafter	2,168,408
Total	$ 5,167,572

Fee and Other Income - Summary

Fee and Other Income - Summary of Fee and Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Fee income:
Total fee income	$ 6,561	$ 9,153	$ 19,432	$ 21,692
Other income	1,719	2,202	4,509	5,353
Total fee and other income	8,280	11,355	23,941	27,045
Property Management Fees [Member]
Fee income:
Total fee income	2,176	2,270	6,457	6,959
Asset Management Fees [Member]
Fee income:
Total fee income	3,280	3,636	10,175	10,728
Acquisition Disposition Leasing And Other [Member]
Fee income:
Total fee income	$ 1,105	$ 3,247	$ 2,800	$ 4,005

Interest and Other Income, ne_2

Interest and Other Income, net - Schedule of Interest and Other Income, net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest And Other Income [Abstract]
Interest income, net	$ 221	$ 364	$ 1,008	$ 1,780
Mark-to-market of investments in our deferred compensation plans	(83)	740	1,502	580
Total interest and other income, net	$ 138	$ 1,104	$ 2,510	$ 2,360

Interest and Debt Expense - Det

Interest and Debt Expense - Details of Interest and Debt Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest And Debt Expense [Abstract]
Interest expense	$ 33,600	$ 33,472	$ 98,613	$ 101,463
Amortization of deferred financing costs	2,666	2,320	7,306	6,957
Total interest and debt expense	$ 36,266	$ 35,792	$ 105,919	$ 108,420

Interest and Debt Expense - D_2

Interest and Debt Expense - Details of Interest and Debt Expense (Parenthetical) (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Interest And Debt Expense [Line Items]
Proceeds from notes and mortgages payable		$ 888,566,000	$ 9,791,000
1301 Avenue of the Americas [Member]
Interest And Debt Expense [Line Items]
Expense from non-cash write-off of deferred financing costs	$ 761,000	761,000
Proceeds from notes and mortgages payable	$ 860,000	$ 860,000

Incentive Compensation - Additi

Incentive Compensation - Additional Information (Details) - USD ($)	Jan. 11, 2021	Feb. 05, 2018	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 4,192,000	$ 4,503,000	$ 14,421,000	$ 14,141,000
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of awards granted	$ 1,439,000
Vesting period	4 years
Shares available for grant	166,686
2020 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, 2021
Performance measurement period, end date	Dec. 31, 2023
Reduction in percentage on number of LTIP units earned if negative TSR	30.00%
Fair value of awards granted	$ 7,303,000
Vesting period	4 years
2020 Performance Program [Member] | Share-Based Compensation Award Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of earned units	50.00%
Percentage of the awards that vest	50.00%
2020 Performance Program [Member] | Share-Based Compensation Award Tranche Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of earned units	50.00%
Percentage of the awards that vest	50.00%
Long Term Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of awards granted	$ 4,598,000
Shares available for grant	579,520
Long Term Incentive Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Long Term Incentive Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	4 years
Appreciation Only Long Term Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of awards granted	$ 4,344,000
Shares available for grant	2,171,875
2017 Performance Program [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant	1,382,807
Fair value granted		$ 7,009,000
Unrecognized compensation cost			$ 208,000		$ 208,000
Unrecognized compensation cost expected to be recognized over a weighted-average period					3 months

Earnings Per Share - Summary of

Earnings Per Share - Summary of Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net loss from continuing operations attributable to common stockholders	$ (2,055)	$ (8,921)	$ (21,576)	$ (15,187)
Earnings allocated to unvested participating securities	(17)	(14)	(54)	(40)
Numerator for loss from continuing operations per common share - basic and diluted	(2,072)	(8,935)	(21,630)	(15,227)
Net income from discontinued operations attributable to common stockholders		1,963		5,307
Earnings allocated to unvested participating securities		(4)		(14)
Numerator for income from discontinued operations per common share - basic and diluted		1,959		5,293
Numerator for loss per common share - basic and diluted	$ (2,072)	$ (6,976)	$ (21,630)	$ (9,934)
Denominator:
Denominator for basic loss per common share - weighted average shares	218,706,356	221,461,146	218,689,696	223,593,376
Weighted average common shares outstanding	218,706,356	221,461,146	218,689,696	223,593,376
(Loss) Income per Common Share - Basic and Diluted:
Continuing operations, net	$ (0.01)	$ (0.04)	$ (0.10)	$ (0.07)
Discontinued operations, net		0.01		0.03
Loss per common share - basic and diluted	$ (0.01)	$ (0.03)	$ (0.10)	$ (0.04)

Earnings Per Share - Summary _2

Earnings Per Share - Summary of Computation of Earnings Per Share (Parenthetical) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Effect of dilutive securities excluded from computation of earning per share	23,862	22,941	23,785	23,795

Related Parties - Additional In

Related Parties - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Fee and other income	$ 8,280,000	$ 11,355,000	$ 23,941,000	$ 27,045,000
Accounts and other receivables, net	11,385,000		11,385,000		$ 17,502,000
Property management, asset management, leasing and other related services fee income	6,561,000	9,153,000	19,432,000	21,692,000
Transaction related costs	87,000	81,000	503,000	542,000
Accounts payable and accrued expenses	$ 117,758,000		$ 117,758,000		101,901,000
712 Fifth Avenue [Member]
Related Party Transaction [Line Items]
Equity method paramount ownership percentage	50.00%		50.00%
CNBB-RDF Holdings Otto Family [Member] | Management Agreements [Member]
Related Party Transaction [Line Items]
Fee and other income	$ 270,000	260,000	$ 1,497,000	967,000
Accounts and other receivables, net	474,000		474,000		34,000
Unconsolidated Joint Ventures and Real Estate Funds [Member] | Management Agreements [Member]
Related Party Transaction [Line Items]
Accounts and other receivables, net	4,097,000		4,097,000		5,011,000
Property management, asset management, leasing and other related services fee income	$ 5,737,000	6,841,000	$ 16,239,000	17,550,000
Hamburg Trust Consulting GMBH ("HTC") [Member]
Related Party Transaction [Line Items]
Mark-up cost percentage	10.00%		10.00%
Transaction related costs	$ 127,000	124,000	$ 372,000	389,000
Accounts payable and accrued expenses	$ 250,000		$ 250,000		123,000
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]
Equity method paramount ownership percentage	50.00%		50.00%
Lease rental income	$ 91,000	91,000	$ 272,000	272,000
Kramer Design Services [Member]
Related Party Transaction [Line Items]
Accounts payable and accrued expenses	0		0		$ 0
Development expenses	$ 10,000	$ 47,000	$ 10,000	187,000
Kramer Design Services [Member] | 712 Fifth Avenue [Member]
Related Party Transaction [Line Items]
Equity method paramount ownership percentage	50.00%		50.00%
Expense recognized				$ 29,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - New York State Division Of Taxation And Finance [Member]	Feb. 16, 2018USD ($)
Minimum [Member]
Other Commitments [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 0
Maximum [Member]
Other Commitments [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 51,000,000

Segments - Additional Informati

Segments - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments - Schedule of NOI for

Segments - Schedule of NOI for Each Reportable Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020		Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Property-related revenues		$ 172,570	$ 171,263		$ 523,134	$ 521,036
Property-related operating expenses		(67,131)	(69,349)		(197,821)	(203,526)
NOI from unconsolidated joint ventures		16,214	12,935		37,097	36,703
NOI	[1]	117,066	114,849		357,823	354,213
One Steuart Lane [Member]
Segment Reporting Information [Line Items]
NOI from unconsolidated joint ventures		(4,587)			(4,587)
New York [Member]
Segment Reporting Information [Line Items]
Property-related revenues		109,842	106,287		329,870	338,543
Property-related operating expenses		(47,545)	(49,072)		(142,370)	(145,314)
NOI from unconsolidated joint ventures		2,875	3,116		8,445	8,740
NOI	[1]	65,172	60,331		195,945	201,969
San Francisco [Member]
Segment Reporting Information [Line Items]
Property-related revenues		63,527	62,086		195,673	173,580
Property-related operating expenses		(18,646)	(17,825)		(52,651)	(50,798)
NOI from unconsolidated joint ventures		8,665	10,019		24,054	29,566
NOI	[1]	53,546	54,280		167,076	152,348
Other [Member]
Segment Reporting Information [Line Items]
Property-related revenues		(799)	2,890	[2]	(2,409)	8,913	[2]
Property-related operating expenses		(940)	(2,452)	[2]	(2,800)	(7,414)	[2]
NOI from unconsolidated joint ventures		4,674	(200)	[2]	4,598	(1,603)	[2]
NOI	[1]	(1,652)	$ 238	[2]	(5,198)	$ (104)	[2]
Other [Member] | One Steuart Lane [Member]
Segment Reporting Information [Line Items]
NOI from unconsolidated joint ventures		$ (4,587)			$ (4,587)
[1]	NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies.
[2]	NOI for the three and nine months ended September 30, 2020 includes NOI from discontinued operations. See Note 3, Discontinued Operations

Segments - Schedule of Reconcil

Segments - Schedule of Reconciliation of NOI to Net Loss Attributable to Common Stockholders (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
NOI	[1]	$ 117,066	$ 114,849	$ 357,823	$ 354,213
Fee income		6,561	9,153	19,432	21,692
Depreciation and amortization expense		(57,522)	(58,889)	(175,752)	(176,032)
General and administrative expenses		(13,257)	(16,805)	(46,039)	(46,955)
NOI from unconsolidated joint ventures		(16,214)	(12,935)	(37,097)	(36,703)
Income (loss) from unconsolidated joint ventures		223	(4,268)	(20,810)	(14,444)
Interest and other income, net		138	1,104	2,510	2,360
Interest and debt expense		(36,266)	(35,792)	(105,919)	(108,420)
Adjustments related to discontinued operations			(2,157)		(6,515)
Other, net		189	(137)	101	(457)
Income (loss) from continuing operations, before income taxes		5,505	(5,877)	(1,164)	(11,261)
Income tax expense		(873)	(393)	(2,448)	(1,135)
Income (loss) from continuing operations, net		4,632	(6,270)	(3,612)	(12,396)
Income from discontinued operations, net			2,147		5,815
Net income (loss)		4,632	(4,123)	(3,612)	(6,581)
Consolidated joint ventures		(3,768)	(3,566)	(16,924)	(5,485)
Consolidated real estate fund		(3,123)	79	(3,179)	1,291
Operating Partnership		204	652	2,139	895
Net loss attributable to common stockholders		(2,055)	(6,958)	(21,576)	(9,880)
One Steuart Lane [Member]
Segment Reporting Information [Line Items]
Income (loss) from unconsolidated joint ventures		3,363	$ (223)	3,138	$ (1,773)
NOI attributable to unconsolidated joint ventures		$ 4,587		$ 4,587
[1]	NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies.

Segments - Schedule of Total As

Segments - Schedule of Total Assets for Each Reportable Segments Information (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total assets	[1]	$ 8,545,585	$ 8,554,097
New York [Member]
Segment Reporting Information [Line Items]
Total assets		5,375,688	5,388,596
San Francisco [Member]
Segment Reporting Information [Line Items]
Total assets		2,712,559	2,698,983
Other [Member]
Segment Reporting Information [Line Items]
Total assets		$ 457,338	$ 466,518
[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 90.9% as of September 30, 2021. As of September 30, 2021, the Operating Partnership includes $4,070,290 and $2,581,637 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”).