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Notes and mortgages payable (Tables) | 12 Months Ended
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Dec. 31, 2011
Notes and Mortgages Payable [Abstract] |
Summary of Notes and Mortgages Payable [Table Text Block] |
|  |  |  | Interest Rate at |  | Balance at December 31, |
(Amounts in thousands) | Maturity |  | December 31, 2011 |  | 2011 |  |  | 2010 |
First mortgage, secured by the Rego Park I |  |  |  |  |  |  |  |  |  |  |  |
| Shopping Center (100% cash collateralized) | Mar. 2012 |  | 0.75 | % |  | $ | 78,246 |  |  | $ | 78,246 |
First mortgage, secured by the office space |  |  |  |  |  |  |  |  |  |  |  |
| at the Lexington Avenue property | Feb. 2014 |  | 5.33 | % |  |  | 339,890 |  |  |  | 351,751 |
First mortgage, secured by the retail space |  |  |  |  |  |  |  |  |  |  |  |
| at the Lexington Avenue property(1) | Jul. 2015 |  | 4.93 | % |  |  | 320,000 |  |  |  | 320,000 |
First mortgage, secured by the Kings Plaza |  |  |  |  |  |  |  |  |  |  |  |
| Regional Shopping Center(2) | Jun. 2016 |  | 2.24 | % |  |  | 250,000 |  |  |  | 151,214 |
First mortgage, secured by the Paramus property(3) | Oct. 2018 |  | 2.90 | % |  |  | 68,000 |  |  |  | 68,000 |
First mortgage, secured by the |  |  |  |  |  |  |  |  |  |  |  |
| Rego Park II Shopping Center(4) | Nov. 2018 |  | 2.15 | % |  |  | 274,796 |  |  |  | 277,200 |
|  |  |  |  |  |  | $ | 1,330,932 |  |  | $ | 1,246,411 |
___________________ |  |  |  |  |  |  |  |  |  |  |  |
(1) | In the event of a substantial casualty, as defined, up to $75,000 of this loan may become recourse to us.
(2) | On June 10, 2011, we completed a $250,000 refinancing of this property. The five-year interest-only loan is at LIBOR plus 1.70%.
| We retained net proceeds of approximately $95,000 after repaying the existing loan and costs.
(3) | On October 5, 2011, this loan was refinanced for the same amount. The new seven-year interest-only loan has a fixed rate of 2.90%.
(4) | On November 30, 2011, we completed a $275,000 refinancing of this property. The seven-year loan bears interest at LIBOR plus
| 1.85% and amortizes based on a 30-year schedule. The proceeds of the new loan were used to repay the existing loan on the property.
Schedule of Maturities of Long-term Debt [Table Text Block] |
| (Amounts in thousands) |  |  |  |  |
| Year Ending December 31, |  | Amount |  |
| 2012 |  | $ | 93,262 |  |
| 2013 |  |  | 15,957 |  |
| 2014 |  |  | 317,179 |  |
| 2015 |  |  | 323,192 |  |
| 2016 |  |  | 253,440 |  |
| Thereafter |  |  | 327,902 |  |

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