Mortgages Payable

3 Months Ended

Mar. 31, 2015

Mortgages Payable [Abstract]

Mortgages Payable [Text Block]

8.Mortgages Payable

The following is a summary of our outstanding mortgages payable as of March 31, 2015 and December 31, 2014.

						Balance at
				Interest Rate at		March 31,		December 31,
(Amounts in thousands)			Maturity(1)	March 31, 2015		2015		2014
First mortgages secured by:
	731 Lexington Avenue, retail space(2)		Aug. 2015	4.93	%	$	320,000	$	320,000
	Rego Park I shopping center (100% cash
		collateralized)(3)	Mar. 2016	0.40	%		78,246		78,246
	Paramus		Oct. 2018	2.90	%		68,000		68,000
	Rego Park II shopping center(4)		Nov. 2018	2.03	%		265,758		266,534
	731 Lexington Avenue, office space(5)		Mar. 2021	1.13	%		300,000		300,000
						$	1,032,004	$	1,032,780
(1)	Represents the extended maturity where we have the unilateral right to extend.
(2)	This loan is non-recourse to us, except for $75,000 in the event of a substantial casualty, as defined. We intend to refinance this loan prior to maturity in August 2015.
(3)	Extended for one year from March 10, 2015.
(4)	Interest at LIBOR plus 1.85%.
(5)	Interest at LIBOR plus 0.95%.