XML 46 R30.htm IDEA: XBRL DOCUMENT
v3.20.4

Mortgages Payable (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The following is a summary of our outstanding mortgages payable. We may refinance our maturing debt as it comes due or choose to repay it.
|  |  |  |  | Interest Rate at December 31, 2020 |  | Balance at December 31,
(Amounts in thousands) | Maturity |  |  | 2020 |  | 2019
First mortgages secured by: |  |  |  |  |  |  |
|  | Paramus | Oct. 04, 2021 |  | 4.72% |  | $ | 68,000 |  |  | $ | 68,000 |
|  | 731 Lexington Avenue, office condominium(1) | Jun. 11, 2024 |  | 1.06% |  | 500,000 |  |  | 500,000 |
|  | 731 Lexington Avenue, retail condominium(2) | Aug. 05, 2025 |  | 1.55% |  | 300,000 |  |  | 350,000 |
|  | Rego Park II shopping center(3) | Dec. 12, 2025 |  | 1.50% |  | 202,544 |  |  | 56,836 |
|  | The Alexander apartment tower | Nov. 01, 2027 |  | 2.63% |  | 94,000 |  |  | — |
|  | Total |  |  |  |  | 1,164,544 |  |  | 974,836 |
|  | Deferred debt issuance costs, net of accumulated |  |  |  |  |  |  |
|  | amortization of $13,034 and $14,362, respectively |  |  |  |  | (8,374) |  |  | (3,875) |
|  |  |  |  |  |  | $ | 1,156,170 |  |  | $ | 970,961 |
(1) |  | Interest at LIBOR plus 0.90%. Maturity date represents the extended maturity based on our unilateral right to extend.
(2) |  | Interest at LIBOR plus 1.40% which is subject to an interest rate swap with a fixed rate of 1.72%.
(3) |  | Interest at LIBOR plus 1.35%. The amount of this loan is net of our loan participation of $50,000 and $195,708 as of December 31, 2020 and 2019, respectively.
Schedule of Maturities of Long-term Debt | As of December 31, 2020, the principal repayments (based on the extended loan maturity dates) for the next five years and thereafter are as follows:
(Amounts in thousands) |  |
Year Ending December 31, |  | Amount
2021 |  | $ | 68,000 |
2022 |  | — |
2023 |  | — |
2024 |  | 500,000 |
2025 |  | 502,544 |
Thereafter |  | 94,000 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration