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Mortgages Payable (Tables)
 9 Months Ended
Sep. 30, 2017
Debt Disclosure [Abstract]  
Summary of Outstanding Mortgages Payable

The following is a summary of our outstanding mortgages payable as of September 30, 2017 and December 31, 2016.

 

                Balance at  
(Amounts in thousands)    Maturity(1)          Interest Rate at    
September 30, 2017		       September 30,    
2017		          December 31,    
2016		  

First mortgages secured by:

               

Rego Park I shopping center (100% cash
collateralized)(2)

      Mar. 2018      0.35%   $       78,246       $       78,246   

Paramus

      Oct. 2018      2.90%       68,000           68,000   

Rego Park II shopping center(3)

      Nov. 2018      3.09%       257,147           259,901   

731 Lexington Avenue, retail space(4)

      Aug. 2022      2.63%       350,000           350,000   

731 Lexington Avenue, office space(5)

      Jun. 2024      2.14%       500,000           300,000   
         

 

 

       

 

 

  

Total

       1,253,393           1,056,147   

Deferred debt issuance costs, net of accumulated amortization of $4,995 and $6,824 respectively

             (13,324)          (3,788)  
         

 

 

       

 

 

  
        $       1,240,069       $       1,052,359   
         

 

 

       

 

 

  

 

(1)

Represents the extended maturity where we have the unilateral right to extend.
(2)

Extended in March 2016 for two years.
(3)

Interest at LIBOR plus 1.85%. See page 10 for details of our Rego Park II loan participation.
(4)

Interest at LIBOR plus 1.40%.
(5)

Interest at LIBOR plus 0.90%.