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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 41,939 $ 60,075 $ 32,844
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization, including amortization of debt issuance costs 35,121 36,515 38,499
Straight-lining of rents 21,102 2,413 5,924
Write-off of tenant receivables 4,122 0 0
Stock-based compensation expense 600 394 394
Change in fair value of marketable securities 8,599 8,757 11,990
Dividends received in stock (214) 0 0
Change in operating assets and liabilities:      
Tenant and other receivables, net (6,146) (2,017) (1,382)
Other assets (28,378) 21,553 (1,197)
Amounts due to Vornado (402) 789 (1,907)
Accounts payable and accrued expenses 2,361 (1,800) (11,760)
Other liabilities (638) (609) 133
Net cash provided by operating activities 78,066 126,070 73,538
CASH FLOWS FROM INVESTING ACTIVITIES      
Construction in progress, real estate additions and other (32,460) (9,449) (3,966)
Repayment of Rego Park II loan participation 0 0 2,829
Net cash used in investing activities (32,460) (9,449) (1,137)
CASH FLOWS FROM FINANCING ACTIVITIES      
Dividends paid (92,168) (92,124) (92,100)
Debt issuance costs (7,246) (15) (2,189)
Debt repayments (50,000) 0 (160,142)
Proceeds from borrowings 239,708 0 78,246
Net cash provided by (used in) financing activities 90,294 (92,139) (176,185)
Net increase (decrease) in cash and cash equivalents and restricted cash 135,900 24,482 (103,784)
Cash and cash equivalents and restricted cash at beginning of year 313,977 289,495 393,279
Cash and cash equivalents and restricted cash at end of year 449,877 313,977 289,495
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH      
Cash and cash equivalents at beginning of year 298,063 283,056 307,536
Restricted cash at beginning of year 15,914 6,439 85,743
Cash and cash equivalents and restricted cash at beginning of year 313,977 289,495 393,279
Cash and cash equivalents at end of year 428,710 298,063 283,056
Restricted cash at end of year 21,167 15,914 6,439
Cash and cash equivalents and restricted cash at end of year 449,877 313,977 289,495
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Cash payments for interest 22,476 34,669 38,231
NON-CASH TRANSACTIONS      
Liability for real estate additions, including $489, $18 and $125 for development fees due to Vornado in 2020, 2019 and 2018, respectively 4,955 3,191 631
Write-off of fully amortized and/or depreciated assets 876 0 16,090
Reclassification of prepaid real estate taxes to construction in progress for property in redevelopment 0 1,466 0
Lease liability arising from the recognition of right-of-use asset 0 5,428 0
Derecognition of Rego Park II loan participation asset $ 0 $ 0 $ 195,708