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Investment in Unconsolidated Joint Venture (Tables)
 6 Months Ended
Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Condensed Balance Sheet
The condensed balance sheets as of June 30, 2015 and December 31, 2014 for Worldwide Plaza are as follows:
(In thousands)
 
June 30,
2015
 
December 31,
2014
 
 
(Unaudited)
 
 
Real estate assets, at cost
 
$
713,339

 
$
704,143

Less accumulated depreciation and amortization
 
(107,075
)
 
(97,181
)
Total real estate assets, net
 
606,264

 
606,962

Other assets
 
269,005

 
255,784

Total assets
 
$
875,269

 
$
862,746

 
 
 
 
 
Debt
 
$
875,000

 
$
875,000

Other liabilities
 
18,807

 
12,442

Total liabilities
 
893,807

 
887,442

Deficit
 
(18,538
)
 
(24,696
)
Total liabilities and deficit
 
$
875,269

 
$
862,746

 
 
 
 
 
Company's basis
 
$
226,306

 
$
225,501
Condensed Income Statement
The following table presents the components of the income (loss) related to the Company's investment in Worldwide Plaza for the periods presented, which is included in income (loss) from unconsolidated joint venture on the consolidated statements of operations and comprehensive loss.
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In thousands)
 
2015
 
2014
 
2015
 
2014
Company's preferred return
 
$
3,894

 
$
3,894

 
$
7,745

 
$
7,745

Company's share of net loss from Worldwide Plaza
 
(242
)
 
(957
)
 
(776
)
 
(2,299
)
Amortization of basis difference
 
(3,082
)
 
(3,241
)
 
(6,164
)
 
(6,482
)
Reallocation of net loss to members
 
—

 
1,252

 
—

 
—

Company's income (loss) from Worldwide Plaza
 
$
570

 
$
948

 
$
805

 
$
(1,036
)
The condensed statement of operations for the three and six months ended June 30, 2015 and 2014 for Worldwide Plaza is as follows:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In thousands)
 
2015
 
2014
 
2015
 
2014
Rental income
 
$
30,751

 
$
27,739

 
$
61,265

 
$
55,394

Other revenue
 
1,232

 
1,229

 
2,449

 
2,444

Total revenue
 
31,983

 
28,968

 
63,714

 
57,838

Operating expenses:
 
 
 
 
 
 
 
 
Operating expense
 
11,727

 
10,779

 
23,967

 
22,292

Depreciation and amortization
 
6,864

 
6,260

 
13,714

 
12,628

Total operating expenses
 
18,591

 
17,039

 
37,681

 
34,920

Operating income
 
13,392

 
11,929

 
26,033

 
22,918

Interest expense
 
(9,992
)
 
(9,992
)
 
(19,874
)
 
(19,874
)
Net income
 
3,400

 
1,937

 
6,159

 
3,044

Preferred return
 
(3,894
)
 
(1,334
)
 
(7,745
)
 
(7,745
)
Net income (loss) to members
 
$
(494
)
 
$
603

 
$
(1,586
)
 
$
(4,701
)