Investments in Partially Owned Entities (Tables)

6 Months Ended

Jun. 30, 2014

			Percentage
(Amounts in thousands)			Ownership at		Balance as of
Investments:			June 30, 2014		June 30, 2014		December 31, 2013
	Toys			32.6%	$	26,309	$	83,224

	Alexander’s			32.4%	$	167,004	$	167,785
	India real estate ventures			4.1%-36.5%		87,859		88,467
	Partially owned office buildings⁽¹⁾			Various		725,483		621,294
	Other investments⁽²⁾			Various		287,024		288,897
					$	1,267,370	$	1,166,443


(1)		Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue and others.
(2)		Includes interests in Independence Plaza, Monmouth Mall, 85 10th Avenue, Fashion Center Mall, 50-70 West 93rd Street and others.

				Percentage		For the Three Months				For the Six Months
(Amounts in thousands)				Ownership at		Ended June 30,				Ended June 30,
Our Share of Net Income (Loss):				June 30, 2014		2014		2013		2014		2013
	Toys:				32.6%
		Equity in net earnings				$	(59,530)	$	(38,708)	$	15,666	$	39,834
		Non-cash impairment losses (see page 13 for details)					-		-		(75,196)		(78,542)
		Management fees					1,939		1,847		3,786		3,606
						$	(57,591)	$	(36,861)	$	(55,744)	$	(35,102)

	Alexander's:				32.4%
		Equity in net income				$	5,272	$	4,077	$	10,031	$	8,486
		Management, leasing and development fees					1,622		1,674		3,248		3,341
							6,894		5,751		13,279		11,827

	India real estate ventures				4.1%-36.5%		(2,041)		(414)		(2,178)		(1,181)

	Partially owned office buildings⁽¹⁾				Various		990		(1,042)		(1,405)		(1,624)

	Other investments⁽²⁾				Various		(1,994)		(2,823)		(5,715)		(4,536)

	Lexington⁽³⁾				n/a		-		-		-		(979)

	LNR (see page 14 for details):				n/a
		Equity in net income					-		-		-		45,962
		Impairment loss					-		-		-		(27,231)
							-		-		-		18,731

						$	3,849	$	1,472	$	3,981	$	22,238


(1)			Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue and others.
(2)			Includes interests in Independence Plaza, Monmouth Mall, 85 10th Avenue, Fashion Center Mall, 50-70 West 93rd Street and others.
(3)			In the first quarter of 2013, we began accounting for our investment in Lexington as a marketable equity security - available for sale. The 2013 amount represents our share of Lexington's 2012 fourth quarter earnings which was recorded on a one-quarter lag basis.

			Percentage		Interest	100% of
			Ownership at		Rate at	Partially Owned Entities’ Debt at
(Amounts in thousands)			June 30,		June 30,	June 30,		December 31,
			2014	Maturity	2014	2014		2013
Toys:
	Notes, loans and mortgages payable		32.6%	2014-2021	6.90%	$	5,206,299	$	5,702,247

Alexander's:
	Mortgages payable		32.4%	2015-2021	2.58%	$	1,034,289	$	1,049,959

India real estate ventures:
	TCG Urban Infrastructure Holdings mortgages
		payable	25.0%	2014-2026	13.21%	$	195,891	$	199,021

Partially owned office buildings⁽¹⁾			Various	2014-2023	5.70%	$	3,646,299	$	3,622,759

Other⁽²⁾			Various	2014-2023	4.56%	$	1,703,586	$	1,709,509


(1)		Includes 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue and others.
(2)		Includes Independence Plaza, Monmouth Mall, Fashion Center Mall, 50-70 West 93rd Street and others.

Toys R Us [Member]

(Amounts in thousands)							Balance as of
Balance Sheet:							May 3, 2014		November 2, 2013
	Assets						$	10,358,000	$	11,756,000
	Liabilities							9,130,000		10,437,000
	Noncontrolling interests							83,000		75,000
	Toys “R” Us, Inc. equity⁽¹⁾							1,145,000		1,244,000

			For the Three Months Ended				For the Six Months Ended
Income Statement:			May 3, 2014		May 4, 2013		May 3, 2014		May 4, 2013
	Total revenues		$	2,479,000	$	2,408,000	$	7,746,000	$	8,178,000
	Net income attributable to Toys			(194,000)		(119,000)		(111,000)		122,000


(1)		At June 30, 2014, the carrying amount of our investment in Toys is less than our share of Toys' equity by approximately $347,337. This basis difference results primarily from non-cash impairment losses aggregating $355,953 that we have recognized through June 30, 2014. We have allocated the basis difference primarily to Toys' real estate, which is being amortized over its remaining estimated useful life.

Alexanders Inc [Member]

(Amounts in thousands)						Balance as of
Balance Sheet:						June 30, 2014		December 31, 2013
	Assets					$	1,450,000	$	1,458,000
	Liabilities						1,113,000		1,124,000
	Stockholders' equity						337,000		334,000

		For the Three Months Ended June 30,				For the Six Months Ended June 30,
Income Statement:		2014		2013		2014		2013
	Total revenues	$	50,000	$	47,000	$	99,000	$	96,000
	Net income attributable to Alexander’s		17,000		13,000		32,000		27,000