Investments in Partially Owned Entities (Tables)

9 Months Ended

Sep. 30, 2014

			Percentage
(Amounts in thousands)			Ownership at		Balance as of
Investments:			September 30, 2014		September 30, 2014		December 31, 2013
	Toys			32.7%	$	-	$	83,224

	Alexander’s			32.4%	$	166,723	$	167,785
	India real estate ventures			4.1%-36.5%		82,588		88,467
	Partially owned office buildings⁽¹⁾			Various		733,904		621,294
	Other investments⁽²⁾			Various		284,851		288,897
					$	1,268,066	$	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				For the Nine Months
(Amounts in thousands)				Ownership at		Ended September 30,				Ended September 30,
Our Share of Net (Loss) Income:				September 30, 2014		2014		2013		2014		2013
	Toys:				32.7%
		Equity in net (loss) earnings				$	(20,357)	$	(36,056)	$	(4,691)	$	3,778
		Non-cash impairment losses					-		-		(75,196)		(78,542)
		Management fees					1,939		1,847		5,725		5,453
						$	(18,418)	$	(34,209)	$	(74,162)	$	(69,311)

	Alexander's:				32.4%
		Equity in net income				$	5,552	$	4,299	$	15,583	$	12,785
		Management, leasing and development fees					1,640		1,676		4,888		5,017
							7,192		5,975		20,471		17,802

	India real estate ventures				4.1%-36.5%		(262)		(1,449)		(2,440)		(2,630)

	Partially owned office buildings⁽¹⁾				Various		18		38		(1,387)		(1,586)

	Other investments⁽²⁾				Various		(14,193)		(3,111)		(19,908)		(8,626)

	LNR (see page 14 for details):				n/a
		Equity in net income					-		-		-		45,962
		Impairment loss					-		-		-		(27,231)
							-		-		-		18,731

						$	(7,245)	$	1,453	$	(3,264)	$	23,691


(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. In the third quarter of 2014, we recognized a $10,263 non-cash charge, comprised of a $5,959 impairment loss and a $4,304 loan loss reserve, on our equity and debt investments in Suffolk Downs.

			Percentage		Interest	100% of
			Ownership at		Rate at	Partially Owned Entities’ Debt at
(Amounts in thousands)			September 30,		September 30,	September 30,		December 31,
			2014	Maturity	2014	2014		2013
Toys:
	Notes, loans and mortgages payable		32.7%	2014-2021	6.72%	$	5,385,461	$	5,702,247

Alexander's:
	Mortgages payable		32.4%	2015-2021	2.58%	$	1,033,541	$	1,049,959

India real estate ventures:
	TCG Urban Infrastructure Holdings mortgages
		payable	25.0%	2014-2026	13.24%	$	190,453	$	199,021

Partially owned office buildings⁽¹⁾			Various	2014-2023	5.71%	$	3,657,837	$	3,622,759

Other⁽²⁾			Various	2014-2025	4.56%	$	1,696,974	$	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:							August 2, 2014		November 2, 2013
	Assets						$	10,213,000	$	11,756,000
	Liabilities							9,139,000		10,437,000
	Noncontrolling interests							83,000		75,000
	Toys “R” Us, Inc. equity⁽¹⁾							991,000		1,244,000

			For the Three Months Ended				For the Nine Months Ended
Income Statement:			August 2, 2014		August 3, 2013		August 2, 2014		August 3, 2013
	Total revenues		$	2,440,000	$	2,377,000	$	10,186,000	$	10,555,000
	Net (loss) income attributable to Toys			(133,000)		(111,000)		(244,000)		11,000


(1)		At September 30, 2014, the carrying amount of our investment in Toys is less than our share of Toys' equity by approximately $323,497. This basis difference results primarily from non-cash impairment losses aggregating $355,953 that we have recognized through September 30, 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:						September 30, 2014		December 31, 2013
	Assets					$	1,465,400	$	1,457,700
	Liabilities						1,129,000		1,124,100
	Stockholders' equity						336,400		333,600

		For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Income Statement:		2014		2013		2014		2013
	Total revenues	$	50,100	$	49,900	$	149,500	$	146,000
	Net income attributable to Alexander’s		17,700		13,800		49,800		41,100