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Mortgages Payable
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Mortgages Payable Mortgages Payable
The following is a summary of our outstanding mortgages payable as of March 31, 2021 and December 31, 2020. We may refinance our maturing debt as it comes due or choose to pay it down.
   Balance at
(Amounts in thousands)MaturityInterest Rate at March 31, 2021March 31, 2021December 31, 2020
First mortgages secured by:
ParamusOct. 04, 20214.72%$68,000 $68,000 
731 Lexington Avenue, office condominium(1)
Jun. 11, 20241.01%500,000 500,000 
731 Lexington Avenue, retail condominium(2)
Aug. 05, 20251.50%300,000 300,000 
Rego Park II shopping center(3)
Dec. 12, 20251.46%202,544 202,544 
The Alexander apartment towerNov. 01, 20272.63%94,000 94,000 
Total1,164,544 1,164,544 
Deferred debt issuance costs, net of accumulated amortization of $13,416 and $13,034, respectively
(8,027)(8,374)
$1,156,517 $1,156,170 
(1)Interest at LIBOR plus 0.90%. Maturity represents the extended maturity based on our unilateral right to extend.
(2)Interest at LIBOR plus 1.40% which is subject to an interest rate swap with a fixed rate of 1.72%.
(3)Interest at LIBOR plus 1.35%. The loan balance of $252,544 is presented net of our participation of $50,000 as of March 31, 2021 and December 31, 2020. On April 7, 2021, we used our participation in this loan to reduce the loan balance to $202,544.