Investment in 111 West 57th Partners LLC (Tables)

9 Months Ended

Sep. 30, 2014

Investment in 111 West 57th Partners LLC [Abstract]

Equity Method Investments

The following tables present summarized financial information for the Company's equity method investment in 111 West 57^th Partners.  The amounts shown represent 100% of the financial position and results of operations of 111 West 57^th Partners for the dates indicated below.

(in thousands)

Assets:	September 30, 2014		December 31, 2013
Real estate held for development, net	$	308,823	$	263,312
Escrow deposits		14,930		43,100
Other assets		21,053		18,062
Total assets	$	344,806	$	324,474
Liabilities:
Mortgage payable	$	230,000	$	230,000
Other liabilities		5,621		2,767
Total liabilities		235,621		232,767
Equity:
Total equity		109,185		91,707
Total liabilities and equity	$	344,806	$	324,474

	Three Months Ended September 30, 2014			June 28, 2013 (date of investment) through September 30, 2013			Nine Months Ended September 30, 2014			June 28, 2013 (date of investment) through September 30, 2013
Rental income	$	54		$	584		$	337		$	599
Expenses		1,061			1,059			3,621			1,094
Net income (loss)	$	(1,007	)	$	(475	)	$	(3,284	)	$	(495	)