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Commercial Mortgage Loans (Tables) (Commercial mortgage loans [Member]) | 9 Months Ended
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Sep. 30, 2014
Commercial mortgage loans [Member] |
Mortgage Loans on Real Estate [Line Items] |
Schedule of Mortgage Loans on Real Estate | The Company’s commercial mortgage loan portfolio was comprised of the following at December 31, 2013:
Description | Date of Investment |  | Maturity Date |  | Original Face Amount |  | Current Face Amount |  | Carrying Value |  | Coupon |  | Property Size
Hotel - NY, NY | Jan-10 |  | Feb-15 |  | $ | 32,000 |  |  | $ | 31,317 |  |  | $ | 31,317 |  |  | Fixed |  |  | 151 rooms
Office Condo (Headquarters) - NY, NY | Feb-10 |  | Feb-15 |  | 28,000 |  |  | 27,169 |  |  | 27,169 |  |  | Fixed |  |  | 73,419 sq. ft.
Hotel - Silver Spring, MD | Mar-10 |  | Apr-15 |  | 26,000 |  |  | 24,947 |  |  | 24,785 |  |  | Fixed |  |  | 263 rooms
Condo Conversion – NY, NY (1) | Dec-12 |  | Jan-15 |  | 45,000 |  |  | 45,000 |  |  | 44,867 |  |  | Floating |  |  | 119,000 sq. ft.
Condo Conversion – NY, NY (2) | Aug-13 |  | Sept-15 |  | 33,000 |  |  | 33,167 |  |  | 32,961 |  |  | Floating |  |  | 40,000 sq. ft.
Total/Weighted Average |  |  |  |  | $ | 164,000 |  |  | $ | 161,600 |  |  | $ | 161,099 |  |  | 8.82 | % |  |
(1) | This loan includes two one-year extension options subject to certain conditions and the payment of a fee for each extension.
(2) | This loan includes a one-year extension option subject to certain conditions and the payment of a fee.
The Company’s commercial mortgage loan portfolio was comprised of the following at September 30, 2014:
Description | Date of Investment |  | Maturity Date |  | Original Face Amount |  | Current Face Amount |  | Carrying Value |  | Coupon |  | Property Size
Hotel - NY, NY | Jan-10 |  | Feb-15 |  | $ | 32,000 |  |  | $ | 31,115 |  |  | $ | 31,115 |  |  | Fixed |  |  | 151 rooms
Office Condo (Headquarters) - NY, NY | Feb-10 |  | Feb-15 |  | 28,000 |  |  | 26,968 |  |  | 26,968 |  |  | Fixed |  |  | 73,419 sq. ft.
Hotel - Silver Spring, MD | Mar-10 |  | Apr-15 |  | 26,000 |  |  | 24,684 |  |  | 24,617 |  |  | Fixed |  |  | 263 rooms
Condo Conversion – NY, NY (1) | Dec-12 |  | Jan-15 |  | 45,000 |  |  | 45,496 |  |  | 45,781 |  |  | Floating |  |  | 119,000 sq. ft.
Condo Conversion – NY, NY (2) | Aug-13 |  | Sept-15 |  | 33,000 |  |  | 33,675 |  |  | 33,691 |  |  | Floating |  |  | 40,000 sq. ft.
Condo Construction - Potomac, MD (3) | Feb-14 |  | Sept-16 |  | 25,000 |  |  | 25,000 |  |  | 24,436 |  |  | Floating |  |  | 50 units
Vacation Home Portfolio - Various | Apr-14 |  | Apr-19 |  | 101,000 |  |  | 101,000 |  |  | 100,018 |  |  | Fixed |  |  | 229 properties
Hotel - Philadelphia, PA (1) | May-14 |  | May-17 |  | 34,000 |  |  | 34,000 |  |  | 33,775 |  |  | Floating |  |  | 301 rooms
Condo Construction - Bethesda, MD (4) | Jun-14 |  | Dec-16 |  | 20,000 |  |  | 20,000 |  |  | 19,497 |  |  | Floating |  |  | 40 units
Multifamily - Brooklyn, NY (5) | Jul-14 |  | Aug-16 |  | 30,000 |  |  | 30,000 |  |  | 30,026 |  |  | Floating |  |  | 63 units
Total/Weighted Average |  |  |  |  | $ | 374,000 |  |  | $ | 371,938 |  |  | $ | 369,924 |  |  | 7.95 | % |  |
(1) | These loans include two one-year extension options subject to certain conditions and the payment of a fee for each extension.
(2) | This loan includes a one-year extension option subject to certain conditions and the payment of a fee.
(3) | This loan includes a six-month extension option subject to certain conditions and the payment of a fee. As of September 30, 2014, the Company had $55,000 of unfunded loan commitments related to this loan.
(4) | This loan includes a six-month extension option subject to certain conditions and the payment of a fee. As of September 30, 2014, the Company had $45,100 of unfunded loan commitments related to this loan.
(5) | This loan includes three one-year extension options subject to certain conditions and the payment of a fee for each extension. As of September 30, 2014, the Company had $4,500 of unfunded loan commitments related to this loan.

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