
Cedar Realty Trust, Inc.
Schedule III
Real Estate and Accumulated Depreciation
Year ended December 31, 2013

				Year built/	Gross	Initial cost to the Company
		Year	Percent	Year last	leasable		Building and
Property	State	acquired	owned	renovated	area	Land	Improvements

Academy Plaza	PA	2001	100%	1965/2013	137,592	$ 2,406,000	$ 9,623,000
Annie Land Plaza	VA	2006	100%	1999	42,500	809,000	4,015,000
Big Y Shopping Center	CT	2013	100%	2007	101,105	11,272,000	23,395,000
Camp Hill	PA	2002	100%	1958/2005	470,117	4,460,000	17,857,000
Carbondale Plaza	PA	2004	100%	1972/2010	120,689	1,586,000	7,289,000
Carll's Corner	NJ	2007	100%	1960's-1999	129,582	3,034,000	15,293,000
Carmans Plaza	NY	2007	100%	1954/2007	194,082	8,539,000	35,804,000
Circle Plaza	PA	2007	100%	1979/1991	92,171	561,000	2,884,000
Coliseum Marketplace	VA	2005	100%	1987/2012	105,998	2,924,000	14,416,000
Colonial Commons	PA	2011	100%	2011/2013	461,905	9,367,000	37,496,000
Crossroads II	PA	2008	60%	2009	133,717	15,383,000	-
Elmhurst Square	VA	2006	100%	1961-1983	66,250	1,371,000	5,994,000
Fairview Commons	PA	2007	100%	1976/2003	42,314	858,000	3,568,000
Fairview Plaza	PA	2003	100%	1992/2005	71,979	2,128,000	8,483,000
Fieldstone Marketplace	MA	2005/2012	100%	1988/2003	193,970	5,229,000	21,440,000
Fort Washington Center	PA	2002	100%	2003	41,000	2,462,000	-
Franklin Village Plaza	MA	2004/2012	100%	1987/2005	303,461	14,270,000	61,915,000
Fredericksburg Way	VA	2005	100%	1997	63,000	3,213,000	12,758,000
General Booth Plaza	VA	2005	100%	1985	71,639	1,935,000	9,493,000
Glen Allen Shopping Center	VA	2005	100%	2000	63,328	6,769,000	683,000
Gold Star Plaza	PA	2006	100%	1988	71,720	1,644,000	6,519,000
Golden Triangle	PA	2003	100%	1960/2005	202,943	2,320,000	9,713,000
Groton Shopping Center	CT	2007	100%	1969	117,186	3,070,000	12,320,000
Halifax Plaza	PA	2003	100%	1994	51,510	1,412,000	5,799,000
Hamburg Square	PA	2004	100%	1993/2010	99,580	1,153,000	4,678,000
Jordan Lane	CT	2005	100%	1969/1991	177,504	4,291,000	21,176,000
Kempsville Crossing	VA	2005	100%	1985/2013	79,209	2,207,000	11,000,000
Kenley Village	MD	2005	100%	1988	51,894	726,000	3,512,000
Kings Plaza	MA	2007	100%	1970/1994	168,243	2,413,000	12,604,000
Liberty Marketplace	PA	2005	100%	2003	68,200	2,665,000	12,639,000
Meadows Marketplace	PA	2004/2012	100%	2005	91,518	1,914,000	-
Mechanicsburg Giant	PA	2005	100%	2003	51,500	2,709,000	12,159,000
Metro Square	MD	2008	100%	1999	71,896	3,121,000	12,341,000
Newport Plaza	PA	2003	100%	1996	64,489	1,721,000	7,758,000
New London Mall	CT	2009	40%	1967/1997	259,566	14,891,000	24,967,000
Northside Commons	PA	2008	100%	2009	69,136	3,332,000	-


Cedar Realty Trust, Inc.
Schedule III
Real Estate and Accumulated Depreciation
Year ended December 31, 2013
		Gross amount at which carried at
(continued)	Subsequent	December 31, 2013
	cost		Building and		Accumulated	Amount of
Property	capitalized	Land	improvements	Total	depreciation (3)	Encumbrance

Academy Plaza	$ 3,559,000	$ 2,406,000	$ 13,182,000	$ 15,588,000	$ 3,695,000	-
Annie Land Plaza	219,000	809,000	4,234,000	5,043,000	1,050,000	-
Big Y Shopping Center	-	11,272,000	23,395,000	34,667,000	103,000	-
Camp Hill	43,617,000	4,424,000	61,510,000	65,934,000	14,651,000	63,382,000
Carbondale Plaza	5,514,000	1,586,000	12,803,000	14,389,000	3,605,000	-
Carll's Corner	(1,067,000)	2,898,000	14,362,000	17,260,000	3,163,000	-
Carmans Plaza	(321,000)	8,421,000	35,601,000	44,022,000	7,362,000	33,437,000
Circle Plaza	103,000	546,000	3,002,000	3,548,000	515,000	-
Coliseum Marketplace	5,355,000	3,586,000	19,109,000	22,695,000	4,810,000	11,142,000
Crossroads II	28,679,000	17,671,000	26,391,000	44,062,000	2,920,000	-
Colonial Commons	2,188,000	9,367,000	39,684,000	49,051,000	5,120,000	26,784,000
Elmhurst Square	513,000	1,371,000	6,507,000	7,878,000	1,628,000	3,723,000
Fairview Commons	3,000	858,000	3,571,000	4,429,000	875,000	-
Fairview Plaza	337,000	2,129,000	8,819,000	10,948,000	2,639,000	-
Fieldstone Marketplace	611,000	5,167,000	22,113,000	27,280,000	5,775,000	17,093,000
Fort Washington	5,176,000	2,462,000	5,176,000	7,638,000	1,538,000	-
Franklin Village Plaza	593,000	14,681,000	62,097,000	76,778,000	3,209,000	43,206,000
Fredericksburg Way	-	3,213,000	12,758,000	15,971,000	3,013,000	-
General Booth Plaza	301,000	1,935,000	9,794,000	11,729,000	3,112,000	-
Glen Allen Shopping Center	3,000	5,367,000	2,088,000	7,455,000	598,000	-
Gold Star Plaza	363,000	1,644,000	6,882,000	8,526,000	1,811,000	1,551,000
Golden Triangle	9,926,000	2,320,000	19,639,000	21,959,000	6,297,000	19,697,000
Groton Shopping Center	385,000	3,073,000	12,702,000	15,775,000	2,982,000	11,160,000
Halifax Plaza	246,000	1,347,000	6,110,000	7,457,000	1,725,000	-
Hamburg Square	5,403,000	1,153,000	10,081,000	11,234,000	2,312,000	4,833,000
Jordan Lane	1,227,000	4,291,000	22,403,000	26,694,000	5,844,000	12,125,000
Kempsville Crossing	(4,113,000)	2,207,000	6,887,000	9,094,000	3,745,000	-
Kenley Village	295,000	726,000	3,807,000	4,533,000	1,284,000	-
Kings Plaza	351,000	2,408,000	12,960,000	15,368,000	2,931,000	7,231,000
Liberty Marketplace	348,000	2,695,000	12,957,000	15,652,000	3,187,000	8,265,000
Meadows Marketplace	11,406,000	1,914,000	11,406,000	13,320,000	2,276,000	9,633,000
Mechanicsburg Giant	-	2,709,000	12,159,000	14,868,000	2,803,000	8,425,000
Metro Square	(301,000)	5,250,000	9,911,000	15,161,000	1,618,000	8,272,000
Newport Plaza	379,000	1,682,000	8,176,000	9,858,000	2,179,000	-
New London Mall	1,139,000	8,807,000	32,190,000	40,997,000	7,151,000	26,990,000
Northside Commons	10,008,000	3,379,000	9,961,000	13,340,000	1,064,000	-


Cedar Realty Trust, Inc.
Schedule III
Real Estate and Accumulated Depreciation
Year ended December 31, 2013

(continued)				Year built/	Gross	Initial cost to the Company
		Year	Percent	Year last	leasable		Building and
Property	State	acquired	owned	renovated	area	Land	Improvements

Norwood Shopping Center	MA	2006	100%	1965/2013	102,459	$ 1,874,000	$ 8,453,000
Oak Ridge Shopping Center	VA	2006	100%	2000	38,700	960,000	4,254,000
Oakland Commons	CT	2007	100%	1962/2013	90,100	2,504,000	15,662,000
Oakland Mills	MD	2005	100%	1960's/2004	58,224	1,611,000	6,292,000
Palmyra Shopping Center	PA	2005	100%	1960/2012	111,051	1,488,000	6,566,000
Pine Grove Plaza	NJ	2003	100%	2001/2002	86,089	2,010,000	6,489,000
Port Richmond Village	PA	2001	100%	1988	154,908	2,942,000	11,769,000
River View Plaza	PA	2003	100%	1991/1998	226,786	9,718,000	40,356,000
San Souci Plaza	MD	2009	40%	1985 - 1997	264,134	14,849,000	18,445,000
Smithfield Plaza	VA	2005/2008	100%	1987/1996	134,664	2,947,000	12,737,000
South Philadelphia	PA	2003	100%	1950/2003	283,415	8,222,000	36,314,000
Southington Center	CT	2003	100%	1972/2000	155,842	-	11,834,000
St. James Square	MD	2005	100%	2000	39,903	688,000	3,838,000
Suffolk Plaza	VA	2005	100%	1984	67,216	1,402,000	7,236,000
Swede Square	PA	2003	100%	1980/2012	100,816	2,268,000	6,232,000
The Brickyard	CT	2004	100%	1990/2012	237,596	7,632,000	29,308,000
The Commons	PA	2004	100%	2003	203,426	3,098,000	14,047,000
The Point	PA	2000	100%	1972/2008	268,037	2,700,000	10,800,000
The Shops at Suffolk Downs	MA	2005	100%	2005/2011	121,320	7,580,000	11,089,000
Timpany Plaza	MA	2007	100%	1970's-1989	183,775	3,412,000	19,240,000
Trexler Mall	PA	2005	100%	1973/2013	339,279	6,932,000	32,815,000
Trexlertown Plaza	PA	2006	100%	1990/2011	313,929	13,349,000	23,867,000
Valley Plaza	MD	2003	100%	1975/1994	190,939	1,950,000	7,766,000
Virginia Little Creek	VA	2005	100%	1996/2001	69,620	1,650,000	8,350,000
Washington Center Shoppes	NJ	2001	100%	1979/1995	157,394	2,061,000	7,314,000
Webster Plaza	MA	2007	100%	1960's-2004	101,824	3,551,000	18,412,000
West Bridgewater Plaza	MA	2007	100%	1970/2007	133,039	2,823,000	14,901,000
Upland Square	PA	2007/2013	100%	2009	394,598	28,187,000	-
Yorktowne Plaza	MD	2007	100%	1970/2000	158,982	5,940,000	25,505,000

Total Consolidated Portfolio					9,390,558	$ 292,513,000	$ 869,482,000


Cedar Realty Trust, Inc.
Schedule III
Real Estate and Accumulated Depreciation
Year ended December 31, 2013
		Gross amount at which carried at
(continued)	Subsequent	December 31, 2013
	cost		Building and		Accumulated	Amount of
Property	capitalized	Land	improvements	Total	depreciation (3)	Encumbrance

Norwood Shopping Center	$ 1,271,000	$ 1,874,000	$ 9,724,000	$ 11,598,000	$ 2,419,000	-
Oak Ridge Shopping Center	28,000	960,000	4,282,000	5,242,000	952,000	3,231,000
Oakland Commons	(233,000)	2,504,000	15,429,000	17,933,000	3,355,000	-
Oakland Mills	40,000	1,611,000	6,332,000	7,943,000	1,872,000	4,559,000
Palmyra Shopping Center	1,386,000	1,488,000	7,952,000	9,440,000	2,094,000	-
Pine Grove Plaza	314,000	2,010,000	6,803,000	8,813,000	1,792,000	5,329,000
Port Richmond Village	1,097,000	2,843,000	12,965,000	15,808,000	4,105,000	-
River View Plaza	4,629,000	9,718,000	44,985,000	54,703,000	12,139,000	-
San Souci Plaza	1,839,000	13,406,000	21,727,000	35,133,000	6,647,000	27,200,000
Smithfield Plaza	758,000	2,919,000	13,523,000	16,442,000	3,295,000	6,660,000
South Philadelphia	2,723,000	8,222,000	39,037,000	47,259,000	12,412,000	-
Southington Center	175,000	-	12,009,000	12,009,000	3,097,000	5,339,000
St. James Square	661,000	688,000	4,499,000	5,187,000	1,519,000	-
Suffolk Plaza	23,000	1,402,000	7,259,000	8,661,000	2,555,000	-
Swede Square	5,679,000	2,272,000	11,907,000	14,179,000	3,915,000	10,159,000
The Brickyard	(2,740,000)	7,648,000	26,552,000	34,200,000	7,771,000	-
The Commons	2,884,000	3,098,000	16,931,000	20,029,000	4,883,000	-
The Point	14,556,000	2,996,000	25,060,000	28,056,000	7,226,000	29,492,000
The Shops at Suffolk Downs	9,126,000	7,580,000	20,215,000	27,795,000	3,731,000	-
Timpany Plaza	947,000	3,368,000	20,231,000	23,599,000	4,014,000	-
Trexler Mall	6,127,000	6,932,000	38,942,000	45,874,000	8,763,000	19,655,000
Trexlertown Plaza	23,470,000	13,351,000	47,335,000	60,686,000	6,085,000	-
Valley Plaza	1,008,000	1,950,000	8,774,000	10,724,000	2,437,000	-
Virginia Little Creek	12,000	1,639,000	8,373,000	10,012,000	2,713,000	324,000
Washington Center Shoppes	3,887,000	2,000,000	11,262,000	13,262,000	3,754,000	-
Webster Plaza	(477,000)	4,082,000	17,404,000	21,486,000	3,431,000	-
West Bridgewater Plaza	(818,000)	2,596,000	14,310,000	16,906,000	2,933,000	10,401,000
Upland Square	66,768,000	25,783,000	69,172,000	94,955,000	7,303,000	58,085,000
Yorktowne Plaza	274,000	5,804,000	25,915,000	31,719,000	5,803,000	18,909,000

Total Consolidated Portfolio	$ 277,859,000	$ 286,518,000	$ 1,153,336,000	$ 1,439,854,000	$ 251,605,000	$ 516,292,000


Cedar Realty Trust, Inc.
Schedule III
Real Estate and Accumulated Depreciation
Year ended December 31, 2013

(continued)

The changes in real estate and accumulated depreciation for the three years ended December 31, 2013 are as follows (1):

Cost		2013	2012	2011

Balance, beginning of the year		$ 1,413,402,000	$ 1,316,927,000	$ 1,237,068,000
Properties acquired		34,666,000	76,185,000	46,863,000
Land parcel sold		(1,351,000)	-	-
Improvements and betterments		12,133,000	20,389,000	33,164,000
Write-off fully-depreciated assets		(18,996,000)	(99,000)	(168,000)
Balance, end of the year	(2)	$ 1,439,854,000	$ 1,413,402,000	$ 1,316,927,000

Accumulated depreciation

Balance, beginning of the year		$ 229,535,000	$ 189,608,000	$ 151,008,000
Depreciation expense		41,066,000	40,026,000	38,768,000
Write-off fully-depreciated assets		(18,996,000)	(99,000)	(168,000)
Balance, end of the year		$ 251,605,000	$ 229,535,000	$ 189,608,000

Net book value		$ 1,188,249,000	$ 1,183,867,000	$ 1,127,319,000



(1) Restated to reflect the reclassifications of properties to "real estate held for sale/conveyance" during 2013.
(2) At December 31, 2013, the aggregate cost for federal income tax purposes was approximately $4.5 million less than the Company's recorded values.
(3) Depreciation is provided over the estimated useful lives of the buildings and improvements, which range from 3 to 40 years.