v3.25.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Real estate, at cost:    
Land $ 1,966,237,000 $ 1,966,237,000
Buildings and improvements 6,348,260,000 6,325,097,000
Rental property, at cost 8,314,497,000 8,291,334,000
Accumulated depreciation and amortization (1,675,242,000) (1,639,529,000)
Real estate, net 6,639,255,000 6,651,805,000
Cash and cash equivalents 426,952,000 375,056,000
Restricted cash 187,055,000 180,391,000
Accounts and other receivables 20,496,000 18,229,000
Investments in unconsolidated real estate related funds 4,678,000 4,649,000
Investments in unconsolidated joint ventures 81,142,000 85,952,000
Deferred rent receivable 355,581,000 356,425,000
Deferred charges, net of accumulated amortization of $95,811 and $91,818 106,306,000 100,684,000
Intangible assets, net of accumulated amortization of $150,642 and $147,133 46,983,000 50,492,000
Other assets 79,030,000 47,820,000
Total assets [1] 7,947,478,000 7,871,503,000
Liabilities and Equity    
Notes and mortgages payable, net of unamortized deferred financing costs of $13,157 and $15,420 3,678,893,000 3,676,630,000
Revolving credit facility 0 0
Accounts payable and accrued expenses 114,074,000 119,881,000
Intangible liabilities, net of accumulated amortization of $95,317 and $93,748 19,301,000 20,870,000
Other liabilities 34,279,000 44,625,000
Total liabilities [1] 3,846,547,000 3,862,006,000
Commitments and contingencies
Paramount Group, Inc. equity:    
Common stock $0.01 par value per share; authorized 900,000,000 shares; issued and outstanding 219,225,083 and 217,527,797 shares in 2025 and 2024, respectively 2,192,000 2,175,000
Additional paid-in-capital 4,100,336,000 4,144,301,000
Earnings less than distributions (1,015,793,000) (1,005,627,000)
Accumulated other comprehensive income 416,000 428,000
Paramount Group, Inc. equity 3,087,151,000 3,141,277,000
Noncontrolling interests in:    
Consolidated joint ventures 664,249,000 495,340,000
Consolidated real estate related funds 84,644,000 82,875,000
Operating Partnership (18,784,741 and 20,057,699 units outstanding) 264,887,000 290,005,000
Total equity 4,100,931,000 4,009,497,000
Total liabilities and equity $ 7,947,478,000 $ 7,871,503,000
[1] Represents the consolidated assets and liabilities of Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). The Operating Partnership is a consolidated variable interest entity (“VIE”), of which we are the sole general partner and own approximately 92.1% as of March 31, 2025. As of March 31, 2025, the assets and liabilities of the Operating Partnership include $4,208,677 and $2,397,164 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 13, Variable Interest Entities (“VIEs”).