Mortgages Payable (Tables)

12 Months Ended

Dec. 31, 2018

The following is a summary of our outstanding mortgages payable. We may refinance our maturing debt as it comes due or choose to repay it.



			Interest Rate at December 31, 2018	Balance at December 31,
(Amounts in thousands)		Maturity⁽¹⁾	Interest Rate at December 31, 2018	2018				2017
First mortgages secured by:
	Paramus	Oct. 2021	4.72%	$	68,000			$	68,000
	731 Lexington Avenue, retail space⁽²⁾	Aug. 2022	3.78%	350,000				350,000
	731 Lexington Avenue, office space⁽³⁾	Jun. 2024	3.36%	500,000				500,000
	Rego Park II shopping center	Dec. 2025	3.87%	252,544			⁽⁴⁾	256,194
	Rego Park I shopping center (100% cash
	collateralized)⁽⁵⁾	—	—	—				78,246
	Total			1,170,544				1,252,440
	Deferred debt issuance costs, net of accumulated
	amortization of $9,212 and $6,315, respectively			(9,010		)		(12,218		)
				$	1,161,534			$	1,240,222

(1)	Represents the extended maturity where we have the unilateral right to extend.
(2)	Interest at LIBOR plus 1.40%.
(3)	Interest at LIBOR plus 0.90%.
(4)	Interest at LIBOR plus 1.35%. See Note 8 for details of our Rego Park II loan participation.
(5)	Refinanced on May 11, 2018 and repaid on June 6, 2018.

Schedule of Maturities of Long-term Debt

As of December 31, 2018, the principal repayments for the next five years and thereafter are as follows:



(Amounts in thousands)
Year Ending December 31,	Amount
2019	$	—
2020	—
2021	68,000
2022	350,000
2023	—
Thereafter	752,544

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details