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Mortgages Payable | 6 Months Ended
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Jun. 30, 2021
Debt Disclosure [Abstract] |
Mortgages Payable | Mortgages Payable The following is a summary of our outstanding mortgages payable as of June 30, 2021 and December 31, 2020. We may refinance our maturing debt as it comes due or choose to pay it down.
|  |  |  |  |  | Balance at
(Amounts in thousands) |  | Maturity |  | Interest Rate at June 30, 2021 |  | June 30, 2021 |  | December 31, 2020
First mortgages secured by: |  |  |  |  |  |  |  |
Paramus |  | Oct. 04, 2021 |  | 4.72% |  | $ | 68,000 |  |  | $ | 68,000 |
731 Lexington Avenue, office condominium(1) |  | Jun. 11, 2024 |  | 0.97% |  | 500,000 |  |  | 500,000 |
731 Lexington Avenue, retail condominium(2) |  | Aug. 05, 2025 |  | 1.48% |  | 300,000 |  |  | 300,000 |
Rego Park II shopping center(3) |  | Dec. 12, 2025 |  | 1.45% |  | 202,544 |  |  | 202,544 |
The Alexander apartment tower |  | Nov. 01, 2027 |  | 2.63% |  | 94,000 |  |  | 94,000 |
Total |  | 1,164,544 |  |  | 1,164,544 |
Deferred debt issuance costs, net of accumulated amortization of $13,795 and $13,034, respectively |  |  |  |  |  | (7,658) |  |  | (8,374) |
|  |  |  |  |  | $ | 1,156,886 |  |  | $ | 1,156,170 |
(1)Interest at LIBOR plus 0.90%. Maturity 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 loan balance of $252,544 as of December 31, 2020 is presented net of our participation of $50,000. On April 7, 2021, we used our participation in this loan to reduce the loan balance to $202,544.

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