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Mortgages Payable
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Mortgages Payable Mortgages Payable
The following is a summary of our outstanding mortgages payable as of September 30, 2022 and December 31, 2021. We may refinance our maturing debt as it comes due or choose to pay it down.
  Interest Rate at September 30, 2022Balance as of
(Amounts in thousands)MaturitySeptember 30, 2022December 31, 2021
First mortgages secured by:
731 Lexington Avenue, office condominium (1)(2)
Jun. 11, 20243.72%$500,000 $500,000 
731 Lexington Avenue, retail condominium (1)(3)
Aug. 05, 20251.72%300,000 300,000 
Rego Park II shopping center (1)(4)
Dec. 12, 20254.47%202,544 202,544 
The Alexander apartment towerNov. 01, 20272.63%94,000 94,000 
Total1,096,544 1,096,544 
Deferred debt issuance costs, net of accumulated amortization of $15,686 and $14,551, respectively
(5,804)(6,931)
$1,090,740 $1,089,613 
(1)Interest rate listed represents the rate in effect as of September 30, 2022 based on LIBOR as of contractual reset date plus contractual spread, adjusted for hedging instruments as applicable.
(2)Interest at LIBOR plus 0.90%. Maturity represents the extended maturity based on our unilateral right to extend.
(3)Interest at LIBOR plus 1.40% which was swapped to a fixed rate of 1.72% through May 2025.
(4)Interest at LIBOR plus 1.35%.