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Mortgages Payable (Tables) | 12 Months Ended
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Dec. 31, 2021
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, 2021 |  | Balance at December 31,
(Amounts in thousands) | Maturity |  |  | 2021 |  | 2020
First mortgages secured by: |  |  |  |  |  |  |
|  | 731 Lexington Avenue, office condominium(1) | Jun. 11, 2024 |  | 1.01% |  | $ | 500,000 |  |  | $ | 500,000 |
|  | 731 Lexington Avenue, retail condominium(2) | Aug. 05, 2025 |  | 1.72% |  | 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 |
|  | Paramus(4) |  |  |  |  | — |  |  | 68,000 |
|  | Total |  |  |  |  | 1,096,544 |  |  | 1,164,544 |
|  | Deferred debt issuance costs, net of accumulated |  |  |  |  |  |  |
|  | amortization of $14,551 and $13,034, respectively |  |  |  |  | (6,931) |  |  | (8,374) |
|  |  |  |  |  |  | $ | 1,089,613 |  |  | $ | 1,156,170 |
(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 was swapped to 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.
(4) |  | On October 4, 2021, the mortgage loan was repaid in connection with the sale of the property. See Note 4 - Real Estate Sales for further details.
Schedule of Maturities of Long-term Debt | As of December 31, 2021, 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
2022 |  | $ | — |
2023 |  | — |
2024 |  | 500,000 |
2025 |  | 502,544 |
2026 |  | — |
Thereafter |  | 94,000 |

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