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Mortgages Payable (Tables)
 6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Summary of Outstanding Mortgages Payable

The following is a summary of our outstanding mortgages payable as of June 30, 2017 and December 31, 2016.

 

                Balance at  
(Amounts in thousands)    Maturity(1)          Interest Rate at    
June 30, 2017		       June 30,    
2017		      December 31,
2016		  

First mortgages secured by:

               

Rego Park I shopping center (100% cash
collateralized)(2)

      Mar. 2018      0.35%   $       78,246     $       78,246 

Paramus

      Oct. 2018      2.90%       68,000         68,000 

Rego Park II shopping center(3)

      Nov. 2018      3.08%       258,082           259,901 

731 Lexington Avenue, retail space(4)

      Aug. 2022      2.48%       350,000         350,000 

731 Lexington Avenue, office space(5)

      Jun. 2024      2.06%       500,000         300,000 
         

 

 

       

 

 

  

Total

       1,254,328         1,056,147 

Deferred debt issuance costs, net of accumulated amortization of $3,710 and $6,824 respectively

             (14,599)          (3,788)  
         

 

 

       

 

 

  
        $       1,239,729     $       1,052,359 
         

 

 

       

 

 

  

 

(1)

Represents the extended maturity where we have the unilateral right to extend.
(2)

Extended in March 2016 for two years.
(3)

Interest at LIBOR plus 1.85%.
(4)

Interest at LIBOR plus 1.40%.
(5)

Interest at LIBOR plus 0.90%.