Mortgages Payable (Tables)

3 Months Ended

Mar. 31, 2017

Mortgages Payable [Abstract]

Summary of Notes and Mortgages Payable

The following is a summary of our outstanding mortgages payable as of March 31,2017 and December 31, 2016.

					Balance as of
			Interest Rate as of		March 31,		December 31,
(Amounts in thousands)		Maturity(1)	March 31, 2017		2017		2016
First mortgages secured by:
	Rego Park I shopping center (100% cash
	collateralized)(2)	Mar. 2018	0.35	%	$	78,246	$	78,246
	Paramus	Oct. 2018	2.90	%		68,000		68,000
	Rego Park II shopping center(3)	Nov. 2018	2.83	%		259,000		259,901
	731 Lexington Avenue, office space(4)	Mar. 2021	1.86	%		300,000		300,000
	731 Lexington Avenue, retail space(5)	Aug. 2022	2.23	%		350,000		350,000
	Total					1,055,246		1,056,147
	Deferred debt issuance costs, net of accumulated
amortization of $7,348 and $6,824 respectively						(3,273)		(3,788)
					$	1,051,973	$	1,052,359
(1)	Represents the extended maturity where we have the unilateral right to extend.
(2)	Extended in March 2016 for two years.
(3)	Interest at LIBOR plus 1.85%.
(4)	Interest at LIBOR plus 0.95%.
(5)	Interest at LIBOR plus 1.40%.