Mortgage Notes Payable (Tables)

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Schedule of Mortgage Notes Payable

The Company's mortgage notes payable as of March 31, 2016 and December 31, 2015 consist of the following:

		Outstanding Loan Amount
Portfolio	Encumbered Properties	March 31, 2016			December 31, 2015			Effective Interest Rate		Interest Rate		Maturity
		(In thousands)			(In thousands)
Design Center	1	$	19,695		$	19,798		4.4	%	Fixed		Dec. 2021
1100 Kings Highway	1	20,200			20,200			3.4	%	Fixed	(1)	Aug. 2017
256 West 38th Street	1	24,500			24,500			3.1	%	Fixed	(1)	Dec. 2017
1440 Broadway(2)	1	305,000			305,000			4.0	%	Variable	(3)	Oct. 2019
Foot Locker(4)		—			3,250
Duane Reade(4)		—			8,400
1623 Kings Highway(4)		—			7,288
Mortgage notes payable, gross principal amount		369,395			388,436
Less: deferred financing costs, net		(6,310		)	(6,993		)
Mortgage notes payable, net of deferred financing costs	4	$	363,085		$	381,443		4.0	%	(5)

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(1) Fixed through an interest rate swap agreement.

(2) Total commitments of $325.0 million; additional $20.0 million available, subject to lender approval, to fund certain tenant allowances, capital expenditures and leasing costs.

(3) LIBOR portion is capped through an interest rate cap agreement.

(4) During the three months ended March 31, 2016, the Company repaid three mortgage notes payable as a result of the sales of Duane Reade, 1623 Kings Highway and Foot Locker.

(5) Calculated on a weighted average basis for all mortgages outstanding as of March 31, 2016.

Schedule Of Aggregate Principal Payments On Mortgages

The following table summarizes the scheduled aggregate principal repayments subsequent to March 31, 2016:

(In thousands)	Future Minimum Principal Payments
April 1, 2016 - December 31, 2016	$	315
2017	48,245
2018	3,703
2019	308,869
2020	4,041
Thereafter	4,222
Total	$	369,395