Investment in 111 West 57th Partners LLC (Tables)

6 Months Ended

Jun. 30, 2014

Investment in 111 West 57th Partners LLC [Abstract]

Equity Method Investments

The following table presents summarized financial information for the Company's equity method investment in 111 West 57^th Partners.  The amounts shown represent 100% of the financial position and results of operations of 111 West 57^th Partners for the dates indicated below.

(in thousands)

Assets:	June 30, 2014		December 31, 2013
Real estate held for development, net	$	288,486	$	263,312
Escrow deposits		31,322		43,100
Other assets		15,975		18,062
Total assets	$	335,783	$	324,474
Liabilities:
Mortgage payable	$	230,000	$	230,000
Other liabilities		5,276		2,767
Total liabilities		235,276		232,767
Equity:
Total equity		100,507		91,707
Total liabilities and equity	$	335,783	$	324,474

	Three Months Ended June 30, 2014			June 28, 2013 (date of investment) through June 30, 2013			Six Months Ended June 30, 2014			June 28, 2013 (date of investment) through June 30, 2013
Rental income	$	10		$	15		$	283		$	15
Expenses		1,290			35			2,560			35
Net income (loss)	$	(1,280	)	$	(20	)	$	(2,277	)	$	(20	)