XML 51 R36.htm IDEA: XBRL DOCUMENT v3.3.1.900
Related Party Transactions (Details)
12 Months Ended
Dec. 22, 2014
USD ($)
Dec. 31, 2015
USD ($)
$ / ft²
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Management and Development Agreements [Abstract]        
Property Management and Development Fee agreement   We pay Vornado an annual management fee equal to the sum of (i) $2,800,000, (ii) 2% of gross revenue from the Rego Park II shopping center, (iii) $0.50 per square foot of the tenant-occupied office and retail space at 731 Lexington Avenue, and (iv) $289,000, escalating at 3% per annum, for managing the common area of 731 Lexington Avenue. Vornado is also entitled to a development fee equal to 6% of development costs, as defined. The payment of development fees for The Alexander apartment tower is due on substantial completion of the construction, as defined.    
Leasing Agreement [Abstract]        
Leasing service fee payable, description   Vornado also provides us with leasing services for a fee of 3% of rent for the first ten years of a lease term, 2% of rent for the eleventh through the twentieth year of a lease term, and 1% of rent for the twenty-first through thirtieth year of a lease term, subject to the payment of rents by tenants. In the event third-party real estate brokers are used, the fees to Vornado increase by 1% and Vornado is responsible for the fees to the third-party real estate brokers.    
Mr. Roth, David Mandelbaum, and Russell B. Wight, Jr.        
Related Party Transaction [Line Items]        
Ownership Interest in the Company   26.30%    
IP & Partners Through Vornado        
Related Party Transaction [Line Items]        
Ownership Interest in the Company   2.20%    
Vornado [Member]        
Related Party Transaction [Line Items]        
Noncontrolling Interest, Ownership Percentage by Parent   32.40%    
Management and Development Agreements [Abstract]        
Management Fee Agreement Value (in US dollars)   $ 2,800,000    
Leasing Agreement [Abstract]        
Asset Sale Commission Threshold (in US dollars)   $ 50,000,000    
Percentage Commissions On Sale Of Assets Under Fifty Million   3.00%    
Percentage Commissions On Sale Of Assets Over Fifty Million   1.00%    
Leasing services fee and commission on asset sale, annual installment, maximum. (in US dollars) $ 4,000,000      
Debt Instrument, Description of Variable Rate Basis One Year LIBOR      
Basis spread over LIBOR 1.00%      
Repayment of leasing costs (in US Dollars) $ 40,353,000      
Summary of fees to Vornado        
Fees to related party (in US dollars)   $ 11,799,000 $ 11,282,000 $ 7,341,000
Vornado [Member] | 731 Lexington Avenue [Member] | Office And Retail Space [Member]        
Management and Development Agreements [Abstract]        
Property Management Fee Agreement Price Per Square Foot | $ / ft²   0.5    
Vornado [Member] | 731 Lexington Avenue [Member] | Common Area [Member]        
Management and Development Agreements [Abstract]        
Property Management Fee Agreement Value (in US dollars)   $ 289,000    
Property Management Fee Escalation Percentage Per Annum   3.00%    
Vornado [Member] | Rego Park II [Member] | Retail Space [Member]        
Management and Development Agreements [Abstract]        
Property Management Fee Agreement Percentage Of Income   2.00%    
Vornado [Member] | Company Management Fees [Member]        
Summary of fees to Vornado        
Fees to related party (in US dollars)   $ 2,800,000 2,800,000 2,800,000
Vornado [Member] | Development fees [Member]        
Management and Development Agreements [Abstract]        
Development fee as percentage of development costs   6.00%    
Summary of fees to Vornado        
Fees to related party (in US dollars)   $ 2,435,000 3,394,000 0
Fees owed (in US dollars)   $ 5,795,000 3,394,000  
Vornado [Member] | Leasing Fees [Member]        
Leasing Agreement [Abstract]        
Lease Fee Percentage Of Rent One To Ten Years   3.00%    
Lease Fee Percentage Of Rent Eleven To Twenty Years   2.00%    
Lease Fee Percentage Of Rent Twenty First To Thirty Years   1.00%    
Percentage Increase Lease Fee If Broker Used   1.00%    
Summary of fees to Vornado        
Fees to related party (in US dollars)   $ 2,950,000 1,430,000 1,126,000
Fees owed (in US dollars)   2,473,000    
Vornado [Member] | Property Management Fees [Member]        
Summary of fees to Vornado        
Fees to related party (in US dollars)   3,614,000 3,658,000 $ 3,415,000
Fees owed (in US dollars)   $ 283,000 $ 528,000