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Earnings Per Share (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Reconciliation of income (loss) from continuing operations used in the basic and diluted EPS calculations        
Income (loss) from continuing operations $ (89,753) [1] $ (26,237) [1] $ (145,963) [1] $ 56,331 [1]
Net (income) loss attributable to noncontrolling interests 722 (14) 696 (444)
Income from sales of residential property 13,266 0 19,999 0
Preferred dividends (10,580) (10,580) (21,160) (21,160)
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders, HPU holders and Participating Security Holders (86,345) [2] (36,831) [2] (146,428) [2] 34,727 [2]
Basic income from continuing operations allocable to Participating Security Holders       1,540
Diluted income from continuing operations allocable to Participating Security Holders       1,507
Numerator for basic earnings per share:        
Income (loss) from discontinued operations 507 217 1,530 1,553
Gain from discontinued operations 24,851 0 27,257 0
Net income (loss) allocable to common shareholders (58,996) (35,525) (113,789) 33,640
Denominator for basic and diluted earnings per share or HPU share:        
Weighted average common shares outstanding for basic earnings per common share (in shares) 84,113 [1] 92,621 [1] 83,834 [1] 92,580 [1]
Weighted average High Performance Units outstanding for basic and diluted earnings per share (in shares) 15 [1],[3] 15 [1],[3] 15 [1],[3] 15 [1],[3]
Weighted average common shares outstanding for diluted earnings per common share 84,113 [1] 92,621 [1] 83,834 [1] 94,758 [1]
Basic earnings per common share:        
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (1.00) [1] $ (0.38) [1] $ (1.69) [1] $ 0.34 [1]
Net income (loss) attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (0.70) [1] $ (0.38) [1] $ (1.36) [1] $ 0.36 [1]
Diluted earnings per common share:        
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (1.00) [1] $ (0.38) [1] $ (1.69) [1] $ 0.34 [1]
Net income (loss) attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (0.70) [1] $ (0.38) [1] $ (1.36) [1] $ 0.36 [1]
Common shares
        
Numerator for basic earnings per share:        
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders (83,526) (35,736) (141,633) 32,200
Income (loss) from discontinued operations 490 211 1,480 1,440
Gain from discontinued operations 24,040 0 26,364 0
Net income (loss) allocable to common shareholders (58,996) (35,525) (113,789) 33,640
Numerator for diluted earnings per share:        
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to equity holders (83,526) (35,736) (141,633) 32,254
Income (loss) from discontinued operations 490 211 1,480 1,442
Gain from discontinued operations 24,040 0 26,364 0
Net income (loss) attributable to iStar Financial Inc. and allocable to equity holders (58,996) (35,525) (113,789) 33,696
Denominator for basic and diluted earnings per share or HPU share:        
Weighted average common shares outstanding for basic earnings per common share (in shares) 84,113 92,621 83,834 92,580
Add: effect of assumed shared issued under treasury stock method for restricted shares 0 0 0 1,880
Add: effect of joint venture shares 0 0 0 298
Weighted average common shares outstanding for diluted earnings per common share 84,113 92,621 83,834 94,758
Basic earnings per common share:        
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (1.00) $ (0.38) $ (1.69) $ 0.34
Income (loss) from discontinued operations (in dollars per share) $ 0.01 $ 0.00 $ 0.02 $ 0.02
Gain from discontinued operations (in dollars per share) $ 0.29 $ 0.00 $ 0.31 $ 0.00
Net income (loss) attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (0.70) $ (0.38) $ (1.36) $ 0.36
Diluted earnings per common share:        
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (1.00) $ (0.38) $ (1.69) $ 0.34
Income (loss) from discontinued operations (in dollars per share) $ 0.01 $ 0.00 $ 0.02 $ 0.02
Gain from discontinued operations (in dollars per share) $ 0.29 $ 0.00 $ 0.31 $ 0.00
Net income (loss) attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (0.70) $ (0.38) $ (1.36) $ 0.36
HPU
        
Numerator for basic earnings per share:        
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders (2,819) (1,095) (4,795) 987
Income (loss) from discontinued operations 17 6 50 44
Gain from discontinued operations 811 0 893 0
Net income (loss) allocable to common shareholders (1,991) (1,089) (3,852) 1,031
Numerator for diluted earnings per share:        
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to equity holders (2,819) (1,095) (4,795) 966
Income (loss) from discontinued operations 17 6 50 43
Gain from discontinued operations 811 0 893 0
Net income (loss) attributable to iStar Financial Inc. and allocable to equity holders $ (1,991) $ (1,089) $ (3,852) $ 1,009
Denominator for basic and diluted earnings per share or HPU share:        
Weighted average High Performance Units outstanding for basic and diluted earnings per share (in shares) 15 15 15 15
Basic earnings per common share:        
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (187.93) $ (73.00) $ (319.66) $ 65.80
Income (loss) from discontinued operations (in dollars per share) $ 1.13 $ 0.40 $ 3.33 $ 2.93
Gain from discontinued operations (in dollars per share) $ 54.07 $ 0.00 $ 59.53 $ 0.00
Net income (loss) attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (132.73) $ (72.60) $ (256.80) $ 68.73
Diluted earnings per common share:        
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (187.93) $ (73.00) $ (319.66) $ 64.40
Income (loss) from discontinued operations (in dollars per share) $ 1.13 $ 0.40 $ 3.33 $ 2.87
Gain from discontinued operations (in dollars per share) $ 54.07 $ 0.00 $ 59.53 $ 0.00
Net income (loss) attributable to iStar Financial Inc. and allocable to equity holders (in dollars per share) $ (132.73) $ (72.60) $ (256.80) $ 67.27
[1] Income (loss) from continuing operations attributable to iStar Financial Inc. for the three months ended June 30, 2012 and 2011 was $(89.0) million and $(26.3) million, respectively, and for the six months ended June 30, 2012 and 2011 was $(145.3) million and $55.9 million, respectively. See Note 14 for details on the calculation of earnings per share.
[2] For the six months ended June 30, 2011, includes income from continuing operations allocable to Participating Security Holders of $1,540 and $1,507 on a basic and dilutive basis, respectively.
[3] HPU holders are current and former Company employees who purchased high performance common stock units under the Company's High Performance Unit Program.