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Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt Instrument Redemption

On and after April 30, 2023, the Company has the right to redeem the Senior Unsecured Notes, in whole or in part, at 100% of the principal amount of the Senior Unsecured Notes to be redeemed, plus accrued but unpaid interest, if any, to, but excluding, the redemption date, plus an amount equal to the principal amount of such Senior Unsecured Notes multiplied by a date-dependent multiple as detailed in the following table:

Redemption Period						Multiple
April 30, 2023 - April 29, 2024						2.875		%
April 30, 2024 - April 29, 2025						1.4375		%
April 30, 2025 - April 29, 2026						—

Schedule of Subordinated Borrowing

The following table summarizes the key details of the Company’s subordinated debentures as of December 31, 2021 and 2020 (dollar amounts in thousands):

			NYM Preferred Trust I						NYM Preferred Trust II
Principal value of trust preferred securities			$	25,000					$	20,000
Interest rate			Three month LIBOR plus 3.75%, resetting quarterly						Three month LIBOR plus 3.95%, resetting quarterly
Scheduled maturity			March 30, 2035						October 30, 2035

Schedule of Mortgage Payable in Consolidated VIE

The consolidated multi-family apartment communities are subject to mortgages payable for which the Company has no obligation for repayment. The following table presents detailed information for these mortgages payable on real estate as of December 31, 2021 and 2020, respectively (dollar amounts in thousands):

			Outstanding Mortgage Balance						Net Deferred Finance Cost						Mortgage Payable, Net						Stated Maturity						Weighted Average Interest Rate (1)						Unfunded Commitment
December 31, 2021			$	718,717					$	(9,361)					$	709,356					2024 - 2031						3.56		%				$	27,198
December 31, 2020			37,030						(278)						36,752						2028						2.54		%				—

(1)Weighted average interest rate is calculated using the outstanding mortgage balance and interest rate as of the date indicated.

Schedule of Maturities of Long-term Debt

The Company's collateralized debt obligations as of December 31, 2021 had stated maturities as follows:

Year Ending December 31,						Total
2022						$	—
2023						—
2024						—
2025						—
2026						180,000
Thereafter						1,320,378
Total						$	1,500,378

As of December 31, 2021, maturities for debt on the Company's consolidated balance sheet are as follows (dollar amounts in thousands):

Year Ending December 31,						Total
2022						$	138,000
2023						—
2024						109,651
2025						150,480
2026						134,017
Thereafter						469,569
Total						$	1,001,717

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Tabular disclosure of debt instruments or arrangements with redemption features. Includes, but is not limited to, description of debt redemption features, percentage price at which debt can be redeemed by the issuer, and period start and end for debt maturity or redemption.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total.

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