Mortgages Payable

3 Months Ended

Mar. 31, 2016

Mortgages Payable [Abstract]

Mortgages Payable

8.Mortgages Payable

The following is a summary of our outstanding mortgages payable as of March 31, 2016 and December 31, 2015.

					Balance at
			Interest Rate at		March 31,		December 31,
(Amounts in thousands)		Maturity(1)	March 31, 2016		2016		2015
First mortgages secured by:
	Rego Park I shopping center (100% cash
	collateralized)(2)	Mar. 2018	0.35	%	$	78,246	$	78,246
	Paramus	Oct. 2018	2.90	%		68,000		68,000
	Rego Park II shopping center(3)	Nov. 2018	2.29	%		262,505		263,341
	731 Lexington Avenue, office space(4)	Mar. 2021	1.39	%		300,000		300,000
	731 Lexington Avenue, retail space(5)	Aug. 2022	1.84	%		350,000		350,000
	Total					1,058,751		1,059,587
	Deferred debt issuance costs, net of accumulated
amortization of $4,898 and $4,267 respectively						(5,700)		(6,325)
					$	1,053,051	$	1,053,262
(1)	Represents the extended maturity where we have the unilateral right to extend.
(2)	Extended in March 2016 for two years.
(3)	Interest at LIBOR plus 1.85%.
(4)	Interest at LIBOR plus 0.95%.
(5)	Interest at LIBOR plus 1.40%.