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Mortgages Payable
 3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Mortgages Payable
Mortgages Payable
The following is a summary of our outstanding mortgages payable as of March 31, 2018 and December 31, 2017. We may refinance our maturing debt as it comes due or choose to repay it.
 
 
 
 
 
 
Balance at
(Amounts in thousands)
 
Maturity(1)
 
Interest Rate at March 31, 2018
 
March 31, 2018
 
December 31, 2017
First mortgages secured by:
 
 
 
 
 
 
 
 
Rego Park I shopping center (100% cash collateralized)(2)
 
May 2018
 
0.35%
 
$
78,246

 
$
78,246

Paramus
 
Oct. 2018
 
2.90%
 
68,000

 
68,000

Rego Park II shopping center(3)
 
Nov. 2018
 
3.74%
 
255,223

 
256,194

731 Lexington Avenue, retail space(4)
 
Aug. 2022
 
3.09%
 
350,000

 
350,000

731 Lexington Avenue, office space(5)
 
Jun. 2024
 
2.68%
 
500,000

 
500,000

Total
 
1,251,469


1,252,440

Deferred debt issuance costs, net of accumulated amortization of $7,628 and $6,315, respectively
 
 
 
 
 
(10,905
)
 
(12,218
)
 
 
 
 
 
 
$
1,240,564


$
1,240,222

                                                                               
(1)
Represents the extended maturity where we have the unilateral right to extend.
(2)
Extended in March 2018 for two months.
(3)
Interest at LIBOR plus 1.85%. See Note 5 for details of our Rego Park II loan participation.
(4)
Interest at LIBOR plus 1.40%.
(5)
Interest at LIBOR plus 0.90%.