Investments in Partially Owned Entities (Tables)

9 Months Ended

Sep. 30, 2012

Schedule Of Equity Method Investments [Line Items]

			Percentage
(Amounts in thousands)			Ownership at		Balance as of
Investments:			September 30, 2012		September 30, 2012		December 31, 2011
Toys				32.5%⁽¹⁾	$	549,421	$	506,809

Alexander’s				32.4%	$	186,714	$	189,775

Lexington				11.8%⁽²⁾		50,271		57,402

LNR				26.2%		197,231		174,408

India real estate ventures				4.0%-36.5%		94,241		80,499

Partially owned office buildings:
	280 Park Avenue			49.5%		190,034		184,516
	Rosslyn Plaza			43.7%-50.4%		62,272		53,333
	West 57th Street properties			50.0%		57,920		58,529
	One Park Avenue			30.3%		50,275		47,568
	666 Fifth Avenue Office Condominium			49.5%		34,162		23,655
	330 Madison Avenue			25.0%		24,900		20,353
	1101 17th Street			55.0%		22,271		20,407
	Warner Building			55.0%		11,603		2,715
	Fairfax Square			20.0%		5,870		6,343
	Other partially owned office buildings			Various		10,042		11,547

Other investments:
	Independence Plaza Partnership⁽³⁾			51.0%		53,545		48,511
	Verde Realty Operating Partnership⁽⁴⁾			8.3%		52,910		59,801
	Downtown Crossing, Boston			50.0%		47,605		46,691
	Monmouth Mall			50.0%		7,373		7,536
	Other investments⁽⁵⁾			Various		160,471		140,061
					$	1,319,710	$	1,233,650


(1)		32.7% at December 31, 2011.

(2)		12.0% at December 31, 2011.

(3)		Represents an investment in mezzanine loans to the property owner entity.

(4)		In the third quarter of 2012, we converted our 2,015,151 units in Verde Realty Operating Partnership into 2,015,151 common shares of Verde Realty ("Verde"). Pursuant to a merger agreement which was approved by Verde shareholders on September 14, 2012, we accepted an offer to receive cash of $13.85 per share, or $27,910 in the aggregate; accordingly, we recognized a $4,936 impairment loss in the third quarter. At September 30, 2012, the $52,910 carrying amount of our investment in Verde is comprised of the $27,910 value of the common shares and $25,000 of convertible debentures that are senior to the equity and mature in December 2018. Upon completion of the merger, we will reclassify the convertible debentures to other assets.

(5)		Includes interests in 85 10th Avenue, Farley Project, Suffolk Downs, Dune Capital L.P., Fashion Centre Mall and others.

				Percentage	For the Three Months				For the Nine Months
(Amounts in thousands)				Ownership	Ended September 30,				Ended September 30,
Our Share of Net Income (Loss):				September 30, 2012	2012		2011		2012		2011
Toys:				32.5%
	Equity in net (loss) income before income taxes				$	(22,074)	$	(26,773)	$	99,649	$	104,049
	Income tax benefit (expense)					11,118		15,135		(17,982)		(29,914)
	Equity in net (loss) income					(10,956)		(11,638)		81,667		74,135
	Management fees					2,371		2,334		7,029		6,659
					$	(8,585)	$	(9,304)	$	88,696	$	80,794

Alexander’s:				32.4%
	Equity in net income				$	7,137	$	6,437	$	19,210	$	18,507
	Fee income					1,821		1,758		5,617		5,545
						8,958		8,195		24,827		24,052

Lexington:				11.8%
	Equity in net (loss) income					(323)		(617)		371		449
	Net gain resulting from Lexington's stock issuance					-		-		-		9,760
						(323)		(617)		371		10,209

LNR:				26.2%
	Equity in net income					16,600		13,656		39,319		24,916
	Net gains from asset sales and tax settlement gains					-		-		-		14,997
						16,600		13,656		39,319		39,913

India real estate ventures				4.0%-36.5%		82		(690)		(4,526)		(692)

Partially owned office buildings:
	Warner Building:			55.0%
		Equity in net loss				(2,839)		(2,783)		(7,438)		(6,308)
		Straight-line reserves and write-off of tenant
			improvements			-		-		-		(9,022)
						(2,839)		(2,783)		(7,438)		(15,330)
	280 Park Avenue (acquired in May 2011)			49.5%		(1,717)		(6,461)		(9,267)		(8,645)
	666 Fifth Avenue Office Condominium (acquired
		in December 2011)		49.5%		1,744		-		5,244		-
	330 Madison Avenue			25.0%		1,224		315		2,036		1,440
	1101 17th Street			55.0%		591		671		1,920		2,094
	One Park Avenue (acquired in March 2011)			30.3%		256		124		890		(1,347)
	West 57th Street properties			50.0%		167		298		732		634
	Rosslyn Plaza			43.7%-50.4%		(204)		(60)		99		2,160
	Fairfax Square			20.0%		(33)		(22)		(85)		7
	Other partially owned office buildings			Various		505		1,079		1,587		5,165
						(306)		(6,839)		(4,282)		(13,822)

Other investments:
	Verde Realty Operating Partnership⁽¹⁾			8.3%		(5,388)		2,413		(6,000)		1,204
	Independence Plaza Partnership (acquired in June 2011)⁽²⁾			51.0%		1,828		1,811		5,243		1,811
	Monmouth Mall			50.0%		347		631		1,007		1,588
	Downtown Crossing, Boston			50.0%		(38)		(408)		(872)		(1,156)
	Other investments⁽³⁾			Various		(492)		(5,012)		(1,596)		(8,072)
						(3,743)		(565)		(2,218)		(4,625)

					$	21,268	$	13,140	$	53,491	$	55,035

(1)		2012 includes a $4,936 impairment loss (see note 4 on page 16)

(2)		Represents an investment in mezzanine loans to the property owner entity.

(3)		Includes interests in 85 10th Avenue, Farley Project, Suffolk Downs, Dune Capital L.P., Fashion Centre Mall and others.

Schedule of debt of partially owned entities

			Percentage		Interest	100% of
			Ownership at		Rate at	Partially Owned Entities’ Debt at
(Amounts in thousands)			September 30,		September 30,	September 30,		December 31,
			2012	Maturity	2012	2012		2011
Toys:			32.5%⁽¹⁾
	Notes, loans and mortgages payable			2013-2021	7.40%	$	5,423,735	$	6,047,521

Alexander's:			32.4%
	Mortgage notes payable			2013-2018	3.50%	$	1,319,776	$	1,330,932

Lexington:			11.8%⁽²⁾
	Mortgage notes payable			2012-2037	5.45%	$	1,739,466	$	1,712,750

LNR:			26.2%
	Mortgage notes payable			2013-2031	3.89%	$	466,882	$	353,504
	Liabilities of consolidated CMBS and CDO trusts			n/a	5.32%		82,522,220		127,348,336
						$	82,989,102	$	127,701,840

Partially owned office buildings:
	666 Fifth Avenue Office Condominium mortgage
		note payable	49.5%	02/19	6.76%	$	1,090,592	$	1,035,884
	280 Park Avenue mortgage notes payable		49.5%	06/16	6.65%		738,009		737,678
	Warner Building mortgage note payable		55.0%	05/16	6.26%		292,700		292,700
	One Park Avenue mortgage note payable		30.3%	03/16	5.00%		250,000		250,000
	330 Madison Avenue mortgage note payable		25.0%	06/15	1.73%		150,000		150,000
	Fairfax Square mortgage note payable		20.0%	12/14	7.00%		70,344		70,974
	Rosslyn Plaza mortgage note payable		43.7% to 50.4%	n/a	n/a		-		56,680
	West 57th Street properties mortgage note payable		50.0%	02/14	4.94%		20,628		21,864
	Other		Various	Various	6.38%		69,839		70,230
						$	2,682,112	$	2,686,010

India Real Estate Ventures:
	TCG Urban Infrastructure Holdings mortgage notes
		payable	25.0%	2012-2022	13.13%	$	241,208	$	226,534

Other:
	Verde Realty Operating Partnership mortgage notes
		payable	8.3%	2013-2025	5.52%	$	503,211	$	340,378
	Monmouth Mall mortgage note payable		50.0%	09/15	5.44%		160,662		162,153
	Other⁽³⁾		Various	Various	4.93%		994,009		992,872
						$	1,657,882	$	1,495,403


(1)		32.7% at December 31, 2011.

(2)		12.0% at December 31, 2011.

(3)		Includes interests in Suffolk Downs, Fashion Centre Mall and others.

Toys R Us [Member]

Schedule Of Equity Method Investments [Line Items]

Equity Method Investment Summarized Financial Information Table [Text Block]

(Amounts in thousands)						Balance as of
Balance Sheet:						July 28, 2012		October 29, 2011
	Assets					$	11,680,000	$	13,221,000
	Liabilities						9,836,000		11,530,000
	Noncontrolling interests						39,000		-
	Toys “R” Us, Inc. equity						1,805,000		1,691,000

		For the Three Months Ended				For the Nine Months Ended
Income Statement:		July 28, 2012		July 30, 2011		July 28, 2012		July 30, 2011
	Total revenues	$	2,552,000	$	2,648,000	$	11,089,000	$	11,256,000
	Net (loss) income attributable to Toys		(34,000)		(36,000)		249,000		227,000

Alexander's Inc. [Member]

Schedule Of Equity Method Investments [Line Items]

Equity Method Investment Summarized Financial Information Table [Text Block]

(Amounts in thousands)						Balance as of
Balance Sheet:						September 30, 2012		December 31, 2011
	Assets					$	1,765,000	$	1,771,000
	Liabilities						1,401,000		1,408,000
	Noncontrolling interests						5,000		4,000
	Stockholders' equity						359,000		359,000

		For the Three Months Ended				For the Nine Months Ended
Income Statement:		September 30, 2012		September 30, 2011		September 30, 2012		September 30, 2011
	Total revenues	$	49,000	$	47,000	$	143,000	$	139,000
	Net income attributable to Alexander’s		19,000		20,000		57,000		59,000

Lexington Realty Trust [Member]

Schedule Of Equity Method Investments [Line Items]

Equity Method Investment Summarized Financial Information Table [Text Block]

(Amounts in thousands)						Balance as of
Balance Sheet:						June 30, 2012		September 30, 2011
	Assets					$	3,017,000	$	3,164,000
	Liabilities						1,937,000		1,888,000
	Noncontrolling interests						28,000		59,000
	Shareholders’ equity						1,052,000		1,217,000

		For the Three Months Ended				For the Nine Months Ended
Income Statement:		June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
	Total revenues	$	84,000	$	78,000	$	250,000	$	238,000
	Net income (loss) attributable to Lexington		5,000		(44,000)		22,000		(49,000)

LNR [Member]

Schedule Of Equity Method Investments [Line Items]

Equity Method Investment Summarized Financial Information Table [Text Block]

(Amounts in thousands)						Balance as of
Balance Sheet:						June 30, 2012		September 30, 2011
	Assets					$	83,899,000	$	128,536,000
	Liabilities						83,087,000		127,809,000
	Noncontrolling interests						9,000		55,000
	LNR Property Corporation equity						803,000		672,000

		For the Three Months Ended				For the Nine Months Ended
Income Statement:		June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
	Total revenues	$	59,000	$	73,000	$	163,000	$	156,000
	Net income attributable to LNR		63,000		52,000		150,000		152,000

- Definition

Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available.

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