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Investments in Unconsolidated Joint Ventures (Tables)
 12 Months Ended
Dec. 31, 2013
Investments In Unconsolidated Joint Ventures [Abstract]  
Investments In Unconsolidated Joint Ventures
The investments in unconsolidated joint ventures consist of the following at December 31, 2013:
 
Entity
Properties
Nominal %
Ownership
 
 
Square 407 Limited Partnership
Market Square North
50.0
%
 
 
The Metropolitan Square Associates LLC
Metropolitan Square
51.0
%
 
 
BP/CRF 901 New York Avenue LLC
901 New York Avenue
25.0
%
 
(1) 
WP Project Developer LLC
Wisconsin Place Land and Infrastructure
33.3
%
 
(2) 
RBP Joint Venture LLC
N/A
50.0
%
 
(3) 
Boston Properties Office Value-Added Fund, L.P.
N/A
39.5
%
 
(4)
Annapolis Junction NFM, LLC
Annapolis Junction
50.0
%
 
(5)
2 GCT Venture LLC
N/A
60.0
%
 
(6) 
540 Madison Venture LLC
540 Madison Avenue
60.0
%
 
 
125 West 55th Street Venture LLC
N/A
60.0
%
 
(7)
500 North Capitol LLC
500 North Capitol Street, NW
30.0
%
 
 
 _______________
(1)
The Company’s economic ownership can increase based on the achievement of certain return thresholds.
(2)
The Company’s wholly-owned entity that owns the office component of the project also owns a 33.3% interest in the entity owning the land, parking and infrastructure of the project.
(3)
Eighth Avenue and 46th Street was sold on July 19, 2013.
(4)
The Company acquired Mountain View Research Park and Mountain View Technology Park from the Value-Added Fund on April 10, 2013 (See Note 3). As of December 31, 2013, the investment is comprised of undistributed cash.
(5)
Comprised of two buildings, one building under construction and two undeveloped land parcels.
(6)
Two Grand Central Tower was sold on October 25, 2011. As of December 31, 2013, the investment is comprised of undistributed cash.
(7)
125 West 55th Street was sold on May 30, 2013. As of December 31, 2013, the investment is comprised of undistributed cash.
Schedule Of Balance Sheets Of The Unconsolidated Joint Ventures [Text Block]
The combined summarized balance sheets of the unconsolidated joint ventures are as follows:
 
 
December 31,
2013
 
December 31,
2012
 
(in thousands)
ASSETS
 
 
 
Real estate and development in process, net
$
924,297

 
$
4,494,971

Other assets
163,149

 
673,716

Total assets
$
1,087,446

 
$
5,168,687

LIABILITIES AND MEMBERS’/PARTNERS’ EQUITY
 
 
 
Mortgage and notes payable
$
749,732

 
$
3,039,922

Other liabilities
28,830

 
792,888

Members’/Partners’ equity
308,884

 
1,335,877

Total liabilities and members’/partners’ equity
$
1,087,446

 
$
5,168,687

Company’s share of equity
$
154,726

 
$
787,941

Basis differentials (1)
(28,642
)
 
(128,025
)
Carrying value of the Company’s investments in unconsolidated joint ventures
$
126,084

 
$
659,916

 _______________
(1)
This amount represents the aggregate difference between the Company’s historical cost basis and the basis reflected at the joint venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials occur from impairment of investments and upon the transfer of assets that were previously owned by the Company into a joint venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the joint venture level.
Statements Of Operations Of The Joint Ventures
The combined summarized statements of operations of the joint ventures are as follows:
 
 
For the year ended December 31,
 
2013
 
2012
 
2011
 
(in thousands)
Total revenue (1)
$
311,548

 
$
564,205

 
$
589,294

Expenses
 
 
 
 
 
Operating
105,319

 
162,665

 
170,404

Depreciation and amortization
86,088

 
163,134

 
190,437

Impairment losses
—

 
—

 
40,468

Total expenses
191,407

 
325,799

 
401,309

Operating income
120,141

 
238,406

 
187,985

Other income (expense)
 
 
 
 
 
Interest expense
(112,535
)
 
(224,645
)
 
(228,494
)
       Losses from early extinguishments of debt
(1,677
)
 
—

 
—

Income (loss) from continuing operations
5,929

 
13,761

 
(40,509
)
Gains on sales of real estate
14,207

 
990

 
—

Net income (loss)
$
20,136

 
$
14,751

 
$
(40,509
)
 
 
 
 
 
 
Company’s share of net income (loss)
$
4,612

 
$
6,863

 
$
(25,374
)
Gains on sales of real estate
54,501

 
—

 
46,166

Basis differential
(1,017
)
 
1,732

 
27,226

Elimination of inter-entity interest on partner loan
16,978

 
40,483

 
37,878

Income from unconsolidated joint ventures
$
75,074

 
$
49,078

 
$
85,896

Gains on consolidation of joint ventures
$
385,991

 
$
—

 
$
—

 _______________ 
(1)
Includes straight-line rent adjustments of $7.8 million, $12.0 million and $21.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. Includes net below-market rent adjustments of $33.7 million, $91.1 million and $120.3 million for the years ended December 31, 2013, 2012 and 2011, respectively. Total revenue for the year ended December 31, 2012 includes termination income totaling approximately $19.6 million (of which the Company's share is approximately $11.8 million) related to a lease termination with a tenant at 767 Fifth Avenue (The General Motors Building).