Mortgage and Mezzanine Loans Receivable	12 Months Ended
Dec. 31, 2012
Mortgage and Mezzanine Loans Receivable [Abstract]
Mezzanine Loans Receivable	7. Mortgage and Mezzanine Loans Receivable On October 19, 2012, we acquired a 25% participation in a $475,000,000 first mortgage and mezzanine loan for the acquisition and redevelopment of a 10-story retail building at 701 Seventh Avenue in Times Square. The loan has an interest rate of LIBOR plus 10.2%, with a LIBOR floor of 1.0%. Of the $475,000,000, we have funded $93,750,000, representing our 25% share of the $375,000,000 that has been funded. $25,000,000, our 25% share of the remaining $100,000,000, will be funded during the development of the property. As of December 31, 2012 and 2011, the carrying amount of mortgage and mezzanine loans receivable was $225,359,000 and $133,948,000, respectively. These loans have a weighted average interest rate of 10.28% and maturities ranging from August 2014 to May 2016.

Mortgage and Mezzanine Loans Receivable

12 Months Ended

Dec. 31, 2012

Mortgage and Mezzanine Loans Receivable [Abstract]

7. Mortgage and Mezzanine Loans Receivable

On October 19, 2012, we acquired a 25% participation in a $475,000,000 first mortgage and mezzanine loan for the acquisition and redevelopment of a 10-story retail building at 701 Seventh Avenue in Times Square. The loan has an interest rate of LIBOR plus 10.2%, with a LIBOR floor of 1.0%. Of the $475,000,000, we have funded $93,750,000, representing our 25% share of the $375,000,000 that has been funded. $25,000,000, our 25% share of the remaining $100,000,000, will be funded during the development of the property.

As of December 31, 2012 and 2011, the carrying amount of mortgage and mezzanine loans receivable was $225,359,000 and $133,948,000, respectively. These loans have a weighted average interest rate of 10.28% and maturities ranging from August 2014 to May 2016.