Investments in Partially Owned Entities (Tables)

3 Months Ended

Mar. 31, 2014

			Percentage
(Amounts in thousands)			Ownership at		Balance as of
Investments:			March 31, 2014		March 31, 2014		December 31, 2013
	Toys ($80,062 in each period, excluding our share of
		Toys' other comprehensive loss/income)		32.6%	$	75,932	$	83,224

	Alexander’s			32.4%	$	167,124	$	167,785
	India real estate ventures			4.1%-36.5%		88,563		88,467
	Partially owned office buildings⁽¹⁾			Various		628,881		621,294
	Other investments⁽²⁾			Various		284,428		288,897
					$	1,168,996	$	1,166,443


(1)		Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue and others.
(2)		Includes interests in Independence Plaza, Monmouth Mall, 85 10th Avenue, Fashion Center Mall, 50-70 West 93rd Street and others.

				Percentage		For the Three Months
(Amounts in thousands)				Ownership at		Ended March 31,
Our Share of Net Income (Loss):				March 31, 2014		2014		2013
	Toys:				32.6%
		Equity in net earnings				$	75,196	$	78,542
		Non-cash impairment losses					(75,196)		(78,542)
		Management fees					1,847		1,759
						$	1,847	$	1,759

	Alexander's:				32.4%
		Equity in net income				$	4,759	$	4,589
		Management, leasing and development fees					1,626		1,487
							6,385		6,076

	India real estate ventures				4.1%-36.5%		(137)		(767)

	Partially owned office buildings⁽¹⁾				Various		(2,395)		(582)

	Other investments⁽²⁾				Various		(3,721)		(1,713)

	Lexington⁽³⁾				n/a		-		(979)

	LNR (see page 13 for details):				n/a
		Equity in net income					-		45,962
		Impairment loss					-		(27,231)
							-		18,731

						$	132	$	20,766


(1)			Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue and others.
(2)			Includes interests in Independence Plaza, Monmouth Mall, 85 10th Avenue, Fashion Center Mall, 50-70 West 93rd Street and others.
(3)			In the first quarter of 2013, we began accounting for our investment in Lexington as a marketable equity security - available for sale. The 2013 amount represents our share of Lexington's 2012 fourth quarter earnings which was recorded on a one-quarter lag basis.

			Percentage		Interest	100% of
			Ownership at		Rate at	Partially Owned Entities’ Debt at
(Amounts in thousands)			March 31,		March 31,	March 31,		December 31,
			2014	Maturity	2014	2014		2013
Toys:
	Notes, loans and mortgages payable		32.6%	2014-2021	7.14%	$	4,977,482	$	5,702,247

Alexander's:
	Mortgages payable		32.4%	2015-2021	2.59%	$	1,035,022	$	1,049,959

India Real Estate Ventures:
	TCG Urban Infrastructure Holdings mortgages
		payable	25.0%	2014-2022	13.23%	$	202,496	$	199,021

Partially owned office buildings⁽¹⁾:			Various	2014-2023	5.74%	$	3,632,588	$	3,622,759

Other⁽²⁾:			Various	2014-2023	4.56%	$	1,705,703	$	1,709,509


(1)		Includes 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue and others.
(2)		Includes Independence Plaza, Monmouth Mall, Fashion Center Mall, 50-70 West 93rd Street and others.

Toys R Us [Member]

(Amounts in thousands)			Balance as of
Balance Sheet:			February 1, 2014		November 2, 2013
	Assets		$	10,400,000	$	11,756,000
	Liabilities			9,018,000		10,437,000
	Noncontrolling interests			78,000		75,000
	Toys “R” Us, Inc. equity⁽¹⁾			1,304,000		1,244,000

			For the Three Months Ended
Income Statement:			February 1, 2014		February 2, 2013
	Total revenues		$	5,267,000	$	5,770,000
	Net income attributable to Toys			82,500		241,000


(1)		At March 31, 2014, the carrying amount of our investment in Toys is less than our share of Toys' equity by approximately $349,759. This basis difference results primarily from non-cash impairment losses aggregating $355,953 that we have recognized through March 31, 2014. We have allocated the basis difference primarily to Toys' real estate, which is being amortized over its remaining estimated useful life.

Alexanders Inc [Member]

(Amounts in thousands)		Balance as of
Balance Sheet:		March 31, 2014		December 31, 2013
	Assets	$	1,452,000	$	1,458,000
	Liabilities		1,118,000		1,124,000
	Stockholders' equity		334,000		334,000

		For the Three Months Ended March 31,
Income Statement:		2014		2013
	Total revenues	$	49,000	$	49,000
	Net income attributable to Alexander’s		15,000		14,000