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Note 8 - Rental Income Under Operating Leases
 3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Lessor, Operating Leases [Text Block]
8.
Rental Income under Operating Leases
 
The Company’s
three
commercial properties are leased to commercial
tenants
under operating leases with fixed terms of varying lengths. As of
March
31,
2017,
the minimum future cash rents receivable (excluding
tenant
reimbursements for operating expenses) under non-cancelable operating leases for the commercial
tenants
in each of the next
five
years and thereafter are as follows:
 
2017 (Remainder)
   $
16,154
  
2018
    
21,648
  
2019
    
16,813
  
2020
    
10,247
  
2021
    
4,749
  
Thereafter
    
23,629
  
Total
    
93,240
  
 
 
The Company has commercial leases with the City of New York that comprised approximately
20%
of total revenue for each of the
three
month periods ended
March
31,
2017
and
2016.
In
December
2016,
the City of New York executed a new lease for a portion of the Company’s property at
250
Livingston Street that terminates in
August
2020
coterminous with the lease for the remainder of the property.