XML 39 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Mortgages Payable (Tables)
 9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Summary of Outstanding Mortgages Payable
The following is a summary of our outstanding mortgages payable as of September 30, 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 September 30, 2018
 
September 30, 2018
 
December 31, 2017
First mortgages secured by:
 
 
 
 
 
 
 
 
Paramus
 
  Oct. 2018(2)
 
2.90%
 
$
68,000

 
$
68,000

Rego Park II shopping center(3)
 
Nov. 2018
 
4.11%
 
253,226

 
256,194

731 Lexington Avenue, retail space(4)
 
Aug. 2022
 
3.51%
 
350,000

 
350,000

731 Lexington Avenue, office space(5)
 
Jun. 2024
 
3.06%
 
500,000

 
500,000

Rego Park I shopping center (100% cash collateralized)(6)
 
—
 
—
 
—

 
78,246

Total
 
1,171,226


1,252,440

Deferred debt issuance costs, net of accumulated amortization of $10,219 and $6,315, respectively
 
 
 
 
 
(8,298
)
 
(12,218
)
 
 
 
 
 
 
$
1,162,928


$
1,240,222

                                                                               
(1)
Represents the extended maturity where we have the unilateral right to extend.
(2)
On October 3, 2018, the loan was extended to October 4, 2021 at a fixed rate of 4.72%.
(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%.
(6)
Refinanced on May 11, 2018 and repaid on June 6, 2018.