Mortgages Payable

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Mortgages Payable

Mortgages Payable

The following is a summary of our outstanding mortgages payable as of March 31, 2019 and December 31, 2018. 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, 2019	March 31, 2019			December 31, 2018
First mortgages secured by:
Paramus	Oct. 2021	4.72%	$	68,000		$	68,000
731 Lexington Avenue, retail space(2)	Aug. 2022	3.88%	350,000			350,000
731 Lexington Avenue, office space(3)	Jun. 2024	3.38%	500,000			500,000
Rego Park II shopping center(4)	Dec. 2025	3.85%	56,836			56,836
Total			974,836			974,836
Deferred debt issuance costs, net of accumulated amortization of $10,498 and $9,212, respectively			(7,724		)	(9,010		)
			$	967,112		$	965,826

(1) Represents the extended maturity where we have the unilateral right to extend.

(2) Interest at LIBOR plus 1.40%.

(3) Interest at LIBOR plus 0.90%.

(4)

Interest at LIBOR plus 1.35%. The amount of this loan is net of our $195,708 loan participation (see Note 2 - Basis of Presentation).