XML 17 R33.htm IDEA: XBRL DOCUMENT v2.4.1.9
Investment in 111 West 57th Partners LLC (Details) (USD $)
1 Months Ended 3 Months Ended 12 Months Ended
Feb. 28, 2015
Mar. 31, 2014
Dec. 31, 2014
sqft
Agreement
Dec. 31, 2013
Investment in 111 West 57th Partners LLC [Abstract]        
Amount of the investment     $ 56,000,000us-gaap_EquityMethodInvestmentAggregateCost  
Percentage ownership (in hundredths)     59.00%us-gaap_EquityMethodInvestmentOwnershipPercentage  
Additional indirect contribution     1,250,000abcp_EquityMethodInvestmentAdditionalInvestmentCost  
Additional ownership acquired through indirect contribution (in hundredths)     1.30%abcp_AdditionalOwnershipAcquiredThroughIndirectContribution  
Additional contributions made by other partners in the agreement     37,750,000abcp_AdditionalContributionsMadeByOtherPartnersInAgreement  
Description of partnership agreement distribution     The JV Agreement and related operating agreements generally provide that all distributable cash shall be distributed as follows: (i) first, 100% to the members in proportion to their percentage interests until Investment LLC has received distributions yielding a 20% internal rate of return as calculated; (ii) second, 100% to the Sponsor as a return of (but not a return on) any additional capital contributions made by the Sponsor on account of manager overruns; and (iii) thereafter, (a) 50% to the members in proportion to their respective percentage interests at the time of such distribution, and (b) 50% to the Sponsor.  
Subordinated participation interest to CEO (in hundredths)   10.00%abcp_SubordinatedParticipationInterestToCeo    
Percentage of distribution on company's initial investment expected to be received (in hundredths)   150.00%abcp_PercentageOfDistributionOnCompanySInitialInvestmentToBeReceivedPriorToCeoReceivingPercentageDistributionInHundredths    
Initial aggregate investment in Investment LLC   57,250,000us-gaap_InvestmentOwnedAtCost    
Number of purchase agreements     3abcp_NumberOfPurchaseAgreements  
Noncontrolling Interest [Line Items]        
Additional capital contributions     17,010,000abcp_EquityMethodInvestmentAdditionalCapitalContributions  
Amount Company was to contribute to Joint Venture pursuant to capital call 7,300,000abcp_EquityMethodInvestmentAdditionalCapitalContributionsRequiredPursuantToCapitalCall   10,300,000abcp_EquityMethodInvestmentAdditionalCapitalContributionsRequiredPursuantToCapitalCall  
Amount of contribution to Joint Venture pursuant to capital call 700,000abcp_EquityMethodInvestmentAdditionalCapitalContributionsMadePursuantToCapitalCall   1,500,000abcp_EquityMethodInvestmentAdditionalCapitalContributionsMadePursuantToCapitalCall  
Sponsor calculation of Investment LLC aggregate investment % after dilution (in hundredths) 45.00%abcp_SponsorCalculationOfAggregateInvestmentPercentageAfterDilution   50.00%abcp_SponsorCalculationOfAggregateInvestmentPercentageAfterDilution  
Area of Real Estate Property     346,000us-gaap_AreaOfRealEstateProperty  
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity     867,000us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity  
Equity Method Investment, Summarized Financial Information, Assets [Abstract]        
Real estate held for development, net     326,387,000abcp_EquityMethodInvestmentSummarizedFinancialInformationRealEstateHeldForDevelopmentNet 263,312,000abcp_EquityMethodInvestmentSummarizedFinancialInformationRealEstateHeldForDevelopmentNet
Escrow deposits     26,011,000abcp_EquityMethodInvestmentSummarizedFinancialInformationEscrowDepositsAssets 43,100,000abcp_EquityMethodInvestmentSummarizedFinancialInformationEscrowDepositsAssets
Other assets     16,370,000abcp_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets 18,062,000abcp_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets
Total assets     368,768,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets 324,474,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets
Equity Method Investment, Summarized Financial Information, Liabilities [Abstract]        
Mortgage payable     230,000,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNoncurrentLiabilities 230,000,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNoncurrentLiabilities
Other liabilities     8,319,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationCurrentLiabilities 2,767,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationCurrentLiabilities
Total liabilities     238,319,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities 232,767,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities
Equity:        
Total equity     130,449,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationEquity 91,707,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationEquity
Total liabilities and equity     368,768,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity 324,474,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity
Income (Loss) [Abstract]        
Rental income     1,039,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue 1,106,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue
Expenses     4,526,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationCostOfSales 2,962,000us-gaap_EquityMethodInvestmentSummarizedFinancialInformationCostOfSales
Net income (loss)     (3,487,000)us-gaap_EquityMethodInvestmentSummarizedFinancialInformationGrossProfitLoss (1,856,000)us-gaap_EquityMethodInvestmentSummarizedFinancialInformationGrossProfitLoss
Investment LLC [Member] | Capital LLC [Member]        
Noncontrolling Interest [Line Items]        
Contribution to Investment LLC by non-controlling interest     $ 4,100,000abcp_NoncontrollingInterestContributionByNoncontrollingOwners
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
 
Percentage of non-controlling interest in Investment LLC     5.80%us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
 
Percentage of outstanding shares to be owned by CEO, minimum (in hundredths)     20.00%abcp_PercentageOfOutstandingSharesToBeOwnedByCeoMinimum
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
 
Terms of distributions to Capital LLC     available cash of Investment LLC will be distributed first to Capital LLC until it has received a 20% internal rate of return (calculated as provided for in the JV Agreement), second to the Company until it has received 150% of its capital, and; thereafter, available cash is split 10/90 with 10% going to Mr. R.A. Bianco as the subordinated participation interest noted and 90% going to Capital LLC and the Company pari-passu, with Capital LLC receiving one-half of its pro-rata share based on capital contributed and the Company receiving the balance.