Investment in Unconsolidated Joint Venture (Tables)

3 Months Ended

Mar. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Condensed Balance Sheet

The condensed balance sheets as of March 31, 2018 and December 31, 2017 for Worldwide Plaza are as follows:

(In thousands)	March 31, 2018			December 31, 2017
Real estate assets, at cost	$	825,316		$	825,310
Less accumulated depreciation and amortization		(192,092	)		(185,377	)
Total real estate assets, net		633,224			639,933
Cash and cash equivalents		36,614			15,964
Other assets		149,640			161,285
Total assets	$	819,478		$	817,182
Debt	$	1,216,161		$	1,213,193
Other liabilities		130,044			126,142
Total liabilities		1,346,205			1,339,335
Deficit		(526,727	)		(522,153	)
Total liabilities and deficit	$	819,478		$	817,182

Condensed Income Statement

The condensed statements of operations for the three months ended March 31, 2018 and 2017 for Worldwide Plaza are as follows:

	March 31,
(In thousands)	2018			2017
Rental income	$	34,179		$	34,300
Operating expenses:
Operating expenses		13,947			13,399
Depreciation and amortization		7,650			7,202
Total operating expenses		21,597			20,601
Operating income		12,582			13,699
Interest expense		(18,205	)		(15,255	)
Net loss	$	(5,623	)	$	(1,556	)