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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2013
Mortgage Loans on Real Estate [Abstract]  
Schedule IV - Mortgage Loans on Real Estate
Property Type
Location
 
Interest
Rate
 
Final
Extended Maturity
Date
 
Periodic
Payment Terms
 
Face
amount of
loans
 
Carrying
amount of
loans
 
Commercial mortgage loans
 
 
 
 
 
 
 
 
 
 
 
 
Hotel
New York
 
8.25
%
 
Feb - 15
 
30 year
 
$
31,317

 
$
31,317

 
Office Condo (Headquarters)
New York
 
8.00
%
 
Feb - 15
 
30 year
 
27,169

 
27,169

 
Hotel
Maryland
 
9.00
%
 
Apr -15
 
25 year
 
24,947

 
24,785

 
Condo Conversion
New York
 
9.00
%
 
Jan -17
 
Interest only
 
45,000

 
44,867

 
Condo Conversion
New York
 
9.67
%
 
Sept - 16
 
Interest only
 
33,167

 
32,961

 
Total commercial mortgage loans
 
 
 
 
 
 
 
 
161,600

 
161,099

 
Subordinate loans (1)
 
 
 
 
 
 
 
 
 
 
 
 
Office
Michigan
 
13.00
%
 
Jun - 20
 
25 year
 
8,866

 
8,866

 
Ski Resort
California
 
14.00
%
 
May - 17
 
Interest only
 
40,000

 
39,781

 
Hotel
New York
 
12.00
%
 
Feb - 15
 
Interest only
 
15,000

 
15,207

 
Mixed Use
North Carolina
 
11.10
%
 
Aug - 22
 
Interest only
 
6,525

 
6,525

 
Office Complex
Missouri
 
11.75
%
 
Oct - 22
 
30 year
 
9,849

 
9,849

 
Hotel Portfolio
Various US cities
 
11.07
%
 
Nov - 16
 
30 year
 
48,431

 
48,397

 
Condo Conversion
New York
 
9.00
%
 
Jan -17
 
Interest only
 
35,000

 
34,734

 
Condo Construction
New York
 
13.25
%
 
July - 18
 
Interest only
 
66,800

 
66,340

 
Multifamily Conversion
New York
 
10.48
%
 
Dec - 15
 
Interest only
 
18,000

 
17,906

 
Hotel Portfolio
Minnesota
 
11.00
%
 
Feb - 18
 
30 year
 
24,771

 
24,771

 
Warehouse Portfolio
Various US cities
 
11.50
%
 
May - 23
 
Interest only
 
32,000

 
32,000

 
Multifamily Conversion
New York
 
12.25
%
 
Sept - 14
 
Interest only
 
44,000

 
43,859

 
Office Condo
New York
 
11.25
%
 
Jul - 22
 
Interest only
 
14,000

 
13,565

 
Condo Conversion
New York
 
9.67
%
 
Sept - 16
 
Interest only
 
295

 
2

 
Mixed Use
Pennsylvania
 
9.42
%
 
Aug - 18
 
Interest only
 
22,500

 
22,342

 
Healthcare Portfolio
Various US cities
 
11.15
%
 
Jun - 14
 
Interest only
 
47,000

 
47,000

 
Mixed Use
Florida
 
10.42
%
 
Oct - 18
 
Interest only
 
50,000

 
49,535

 
Mixed Use
Various US cities
 
14.00
%
 
Dec - 18
 
Interest only
 
17,000

 
16,805

 
Total subordinate loans
 
 
 
 
 
 
 
 
500,037

 
497,484

 
Total
 
 
 
 
 
 
 
$
661,637

 
$
658,583

(2) 
(1)
Subject to prior liens.
(2)
The aggregate cost for federal income tax purposes is $658,583.
The following table summarizes the changes in the carrying amounts of mortgage loans during 2013 and 2012.
Reconciliation of Carrying Amount of Loans
 
 
2013
 
2012
Balance at beginning of year
$
389,167

 
$
258,092

New mortgage loans
401,912

 
159,465

Collections of principal
(137,168
)
 
(31,408
)
Discount accretion
4,672

 
3,018

Balance at the close of year
$
658,583

 
$
389,167