XML 70 R68.htm IDEA: XBRL DOCUMENT v3.3.0.814
Investments in Unconsolidated Joint Ventures (Details)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended
Oct. 31, 2015
USD ($)
Aug. 31, 2015
USD ($)
ft²
Jul. 31, 2015
USD ($)
Mar. 31, 2015
USD ($)
Feb. 28, 2015
USD ($)
property
Sep. 30, 2015
USD ($)
ft²
unit
Sep. 30, 2014
USD ($)
Sep. 30, 2015
USD ($)
ft²
unit
Sep. 30, 2014
USD ($)
Dec. 31, 2014
USD ($)
General information on each joint venture                    
Net equity investment in VIEs in which the entity is not primary beneficiary           $ 100,200   $ 100,200   $ 146,200
Approximate Square Feet (sqft) | ft²           35,843,296   35,843,296    
Loans Receivable, Gross, Commercial, Acquisition           $ 145,763   $ 145,763   145,875
Gain (Loss) on Sale           $ 0 $ 29,507 $ 12,983 $ 144,242  
100 Park Avenue                    
General information on each joint venture                    
Ownership Interest (as a percent)           49.90%   49.90%    
Economic Interest (as a percent)           49.90%   49.90%    
Approximate Square Feet (sqft) | ft²           834,000   834,000    
Acquisition Price           $ 95,800   $ 95,800    
717 Fifth Avenue                    
General information on each joint venture                    
Ownership Interest (as a percent)           10.92%   10.92%    
Economic Interest (as a percent)           10.92%   10.92%    
Approximate Square Feet (sqft) | ft²           119,500   119,500    
Acquisition Price           $ 251,900   $ 251,900    
800 Third Avenue                    
General information on each joint venture                    
Ownership Interest (as a percent)           60.52%   60.52%    
Economic Interest (as a percent)           60.52%   60.52%    
Approximate Square Feet (sqft) | ft²           526,000   526,000    
Acquisition Price           $ 285,000   $ 285,000    
Additional Ownership Percentage Acquired (less than for the 1.0%)       17.56%            
Additional Cost for additional interest in joint venture       $ 67,500            
1745 Broadway                    
General information on each joint venture                    
Ownership Interest (as a percent)           56.88%   56.88%    
Economic Interest (as a percent)           56.88%   56.88%    
Approximate Square Feet (sqft) | ft²           674,000   674,000    
Acquisition Price           $ 520,000   $ 520,000    
Jericho Plaza                    
General information on each joint venture                    
Ownership Interest (as a percent)           20.26%   20.26%    
Economic Interest (as a percent)           20.26%   20.26%    
Approximate Square Feet (sqft) | ft²           640,000   640,000    
Acquisition Price           $ 210,000   $ 210,000    
600 Lexington Avenue                    
General information on each joint venture                    
Ownership Interest (as a percent)           55.00%   55.00%    
Economic Interest (as a percent)           55.00%   55.00%    
Approximate Square Feet (sqft) | ft²           303,515   303,515    
Acquisition Price           $ 193,000   $ 193,000    
11 West 34th Street                    
General information on each joint venture                    
Ownership Interest (as a percent)           30.00%   30.00%    
Economic Interest (as a percent)           30.00%   30.00%    
Approximate Square Feet (sqft) | ft²           17,150   17,150    
Acquisition Price           $ 10,800   $ 10,800    
7 Renaissance                    
General information on each joint venture                    
Ownership Interest (as a percent)           50.00%   50.00%    
Economic Interest (as a percent)           50.00%   50.00%    
Approximate Square Feet (sqft) | ft²           65,641   65,641    
Acquisition Price           $ 4,000   $ 4,000    
3 Columbus Circle                    
General information on each joint venture                    
Ownership Interest (as a percent)           48.90%   48.90%    
Economic Interest (as a percent)           48.90%   48.90%    
Approximate Square Feet (sqft) | ft²           741,500   741,500    
Acquisition Price           $ 500,000   $ 500,000    
280 Park Avenue                    
General information on each joint venture                    
Ownership Interest (as a percent)           50.00%   50.00%    
Economic Interest (as a percent)           50.00%   50.00%    
Approximate Square Feet (sqft) | ft²           1,219,158   1,219,158    
Acquisition Price           $ 400,000   $ 400,000    
1552-1560 Broadway                    
General information on each joint venture                    
Ownership Interest (as a percent)           50.00%   50.00%    
Economic Interest (as a percent)           50.00%   50.00%    
Approximate Square Feet (sqft) | ft²           35,897   35,897    
Acquisition Price           $ 136,550   $ 136,550    
724 Fifth Avenue                    
General information on each joint venture                    
Ownership Interest (as a percent)           50.00%   50.00%    
Economic Interest (as a percent)           50.00%   50.00%    
Approximate Square Feet (sqft) | ft²           65,040   65,040    
Acquisition Price           $ 223,000   $ 223,000    
10 East 53rd Street                    
General information on each joint venture                    
Ownership Interest (as a percent)           55.00%   55.00%    
Economic Interest (as a percent)           55.00%   55.00%    
Approximate Square Feet (sqft) | ft²           354,300   354,300    
Acquisition Price           $ 252,500   $ 252,500    
33 Beekman                    
General information on each joint venture                    
Ownership Interest (as a percent)           45.90%   45.90%    
Economic Interest (as a percent)           45.90%   45.90%    
Approximate Square Feet (sqft) | ft²           163,500   163,500    
Acquisition Price           $ 31,000   $ 31,000    
521 Fifth Avenue                    
General information on each joint venture                    
Ownership Interest (as a percent)           50.50%   50.50%    
Economic Interest (as a percent)           50.50%   50.50%    
Approximate Square Feet (sqft) | ft²           460,000   460,000    
Acquisition Price           $ 315,000   $ 315,000    
21 East 66th Street                    
General information on each joint venture                    
Ownership Interest (as a percent)           32.28%   32.28%    
Economic Interest (as a percent)           32.28%   32.28%    
Approximate Square Feet (sqft) | ft²           16,736   16,736    
Acquisition Price           $ 75,000   $ 75,000    
650 Fifth Avenue                    
General information on each joint venture                    
Ownership Interest (as a percent)           50.00%   50.00%    
Economic Interest (as a percent)           50.00%   50.00%    
Approximate Square Feet (sqft) | ft²           32,324   32,324    
Acquisition Price           $ 0   $ 0    
121 Greene Street                    
General information on each joint venture                    
Ownership Interest (as a percent)           50.00%   50.00%    
Economic Interest (as a percent)           50.00%   50.00%    
Approximate Square Feet (sqft) | ft²           7,131   7,131    
Acquisition Price           $ 27,400   $ 27,400    
175-225 Third Street Brooklyn, New York                    
General information on each joint venture                    
Ownership Interest (as a percent)           95.00%   95.00%    
Economic Interest (as a percent)           95.00%   95.00%    
Approximate Square Feet (sqft) | ft²           0   0    
Acquisition Price           $ 74,600   $ 74,600    
55 West 46th Street                    
General information on each joint venture                    
Ownership Interest (as a percent)           25.00%   25.00%    
Economic Interest (as a percent)           25.00%   25.00%    
Approximate Square Feet (sqft) | ft²           347,000   347,000    
Acquisition Price           $ 295,000   $ 295,000    
Stonehenge Portfolio                    
General information on each joint venture                    
Approximate Square Feet (sqft) | ft²           2,046,733   2,046,733    
Acquisition Price         $ 40,200 $ 36,668   $ 36,668    
Additional Ownership Percentage Acquired (less than for the 1.0%)     1.00%              
Additional Cost for additional interest in joint venture     $ 1,100              
Increase in real estate investment ownership interest         $ 3,500          
Number of Joint Venture Properties with an Increased Ownership Interest | property         6          
131-137 Spring Street                    
General information on each joint venture                    
Ownership Interest (as a percent)           20.00%   20.00%    
Economic Interest (as a percent)           20.00%   20.00%    
Approximate Square Feet (sqft) | ft²           68,342   68,342    
Acquisition Price           $ 277,750   $ 277,750    
1552 Broadway                    
General information on each joint venture                    
Approximate Square Feet (sqft) | ft²           13,045   13,045    
Three Retail and Two Residential Units | 21 East 66th Street                    
General information on each joint venture                    
Ownership Interest (as a percent)           32.28%   32.28%    
Number of Stores | unit           3   3    
Number Of Residential Units | unit           2   2    
Three Residential Units | 21 East 66th Street                    
General information on each joint venture                    
Ownership Interest (as a percent)           16.14%   16.14%    
Number Of Residential Units | unit           3   3    
Series M Preferred Units                    
General information on each joint venture                    
Preferred Units (as a percent)         3.75%          
Series M Preferred Units | Stonehenge Portfolio                    
General information on each joint venture                    
Issuance of aggregate liquidation preference of preferred units         $ 40,000          
Mezzanine loan and preferred equity due March 2016                    
General information on each joint venture                    
Loans Receivable, Gross, Commercial, Acquisition           $ 99,856   $ 99,856   99,629
Mezzanine loan due February 2022                    
General information on each joint venture                    
Loans Receivable, Gross, Commercial, Acquisition           $ 45,907   $ 45,907   $ 46,246
Subsequent Event | 33 Beekman                    
General information on each joint venture                    
Agreed sale consideration $ 196,000                  
131-137 Spring Street                    
General information on each joint venture                    
Approximate Square Feet (sqft) | ft²   68,342                
Agreed sale consideration   $ 277,800                
Gain (Loss) on Sale   $ 101,100                
Ownership percentage in disposed asset   80.00%                
The Meadows                    
General information on each joint venture                    
Ownership Interest (as a percent)           50.00%   50.00%    
Gross Asset Valuation           $ 121,100   $ 121,100    
Gain (Loss) on Sale               $ (1,600)    
315 West 36th Street                    
General information on each joint venture                    
Ownership Interest (as a percent)           35.50%   35.50%    
Gross Asset Valuation           $ 115,000   $ 115,000    
Gain (Loss) on Sale               $ 16,300