Mortgages Payable

3 Months Ended

Mar. 31, 2013

Notes and Mortgages Payable [Abstract]

Mortgages Payable [Text Block]

8.Mortgages Payable

The following is a summary of our outstanding mortgages payable. We may refinance our maturing debt as it comes due or choose to repay it at maturity.

						Balance at
				Interest Rate at		March 31,		December 31,
(Amounts in thousands)			Maturity	March 31, 2013		2013		2012
First mortgages secured by:
	731 Lexington Avenue, office space		Feb. 2014	5.33	%	$	324,130	$	327,425
	Rego Park I shopping center (100% cash
		collateralized)	Mar. 2015	0.40	%		78,246		78,246
	731 Lexington Avenue, retail space(1)		Jul. 2015	4.93	%		320,000		320,000
	Paramus		Oct. 2018	2.90	%		68,000		68,000
	Rego Park II shopping center(2)		Nov. 2018	2.05	%		271,577		272,245
						$	1,061,953	$	1,065,916
(1)	In the event of a substantial casualty, as defined, up to $75,000 of this loan may become recourse to us.
(2)	This loan bears interest at LIBOR plus 1.85%.