Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis

The following table presents information about the Company's assets measured at fair value on a recurring basis as of December 31, 2016, aggregated by the level in the fair value hierarchy within which that instrument falls.

	Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobservable Inputs
(In thousands)	Level 1		Level 2		Level 3		Total
December 31, 2016
Investment Securities	$	477	$	—	$	—	$	477

Fair Value, by Balance Sheet Grouping

The fair values of the Company's financial instruments that are not reported at fair value on the consolidated balance sheet are reported below:

		September 30, 2017				December 31, 2016
(In thousands)	Level	Gross Principal Balance		Fair Value		Gross Principal Balance		Fair Value
Mortgage note payable — 123 William Street	3	$	140,000	$	145,483	*		*
Mortgage note payable — 1140 Avenue of the Americas	3	$	99,000	$	98,721	$	99,000	$	98,000

* The fair value of the mortgage note payable is estimated to be equivalent to its carrying value because it bears interest at a variable rate that fluctuates with market and there has been no significant change in the credit risk. This mortgage note payable was repaid on March 6, 2017.