Quarterly report pursuant to Section 13 or 15(d)

Investments In Unconsolidated Joint Ventures (Narrative) (Details)

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Investments In Unconsolidated Joint Ventures (Narrative) (Details) (USD $)
 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 0 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended 0 Months Ended 0 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended 6 Months Ended 0 Months Ended 1 Months Ended 12 Months Ended 0 Months Ended 3 Months Ended 6 Months Ended 0 Months Ended 3 Months Ended 6 Months Ended
Mar. 31, 2009
OPLP [Member]
Dec. 31, 2007
OPLP [Member]
Jun. 30, 2011
OPLP [Member]
May 09, 2006
OPLP [Member]
sqft
May 09, 2006
OPLP [Member]
Mack-Green [Member]
Jun. 30, 2011
Plaza VIII & IX Associates [Member]
Jun. 30, 2011
Harborside South Pier [Member]
Jun. 30, 2011
Red Bank Corporate Plaza [Member]
sqft
Mar. 31, 2011
Red Bank Corporate Plaza [Member]
Jun. 30, 2010
Red Bank Corporate Plaza [Member]
Jun. 30, 2011
Red Bank Corporate Plaza [Member]
sqft
Jun. 30, 2010
Red Bank Corporate Plaza [Member]
Apr. 29, 2009
Gramercy Agreement [Member]
May 09, 2006
Gramercy Agreement [Member]
Jun. 30, 2011
Gramercy Agreement [Member]
Jun. 30, 2010
Gramercy Agreement [Member]
Mar. 31, 2010
Gramercy Agreement [Member]
sqft
Mar. 31, 2009
Gramercy Agreement [Member]
Jun. 30, 2011
Gramercy Agreement [Member]
Jun. 30, 2010
Gramercy Agreement [Member]
Dec. 17, 2010
Gramercy Agreement [Member]
sqft
Dec. 31, 2008
Gramercy Agreement [Member]
May 09, 2006
Mack-Green [Member]
Apr. 29, 2009
Mack-Green [Member]
Jun. 15, 2006
Gale Kimball [Member]
sqft
Jun. 30, 2010
Gale Kimball [Member]
Jun. 30, 2010
Gale Kimball [Member]
Dec. 31, 2010
Gale Kimball [Member]
Jun. 30, 2011
12 Vreeland [Member]
Sep. 08, 2006
12 Vreeland [Member]
sqft
Oct. 31, 2006
Boston-Downtown Crossing [Member]
sqft
Jan. 29, 2007
Boston-Downtown Crossing [Member]
Dec. 31, 2008
Boston-Downtown Crossing [Member]
Aug. 29, 2007
Gale Jefferson [Member]
Jun. 30, 2011
Gale Jefferson [Member]
Jun. 30, 2010
Gale Jefferson [Member]
Jun. 30, 2011
Gale Jefferson [Member]
Jun. 30, 2010
Gale Jefferson [Member]
Aug. 22, 2007
Gale Jefferson [Member]
sqft
May 09, 2006
PFV [Member]
sqft
Jun. 30, 2011
PFV [Member]
Jun. 30, 2010
PFV [Member]
Jun. 30, 2010
PFV [Member]
Dec. 31, 2010
PFV [Member]
Dec. 16, 2010
PFV [Member]
Aug. 22, 2007
M-C Jefferson [Member]
Percentage of interest in venture     96.00% 100.00% 96.00% 50.00% 50.00% 50.00%     50.00%                         100.00% 8.33%         50.00% 15.00%                 10.00%           8.33%
Mortgage loans, carrying amount $ 276,300,000           $ 65,700,000 $ 18,500,000 $ 20,300,000   $ 18,500,000             $ 90,300,000                     $ 2,300,000           $ 21,000,000   $ 21,000,000                  
Mortgage finance on property obtained                                         11,000,000                                                  
Number of properties                                   6                                                        
Interest rate             6.15%                                           6.90%                                  
Mortgage loan maturity date May 2016           November 2016   May 2011   May 17, 2016             May 2009                     July 1, 2012               October 24, 2011                  
Date of acquisition                                                 June 15, 2006                                          
Bears interest at fixed rate range, minimum             6.09%                                                                              
Bears interest at fixed rate range, maximum             6.62%                                                                              
Letter of credit             5,900,000                                                                              
Area of office property       3,500,000       92,878     92,878                           175,000         139,750 1,200,000               100,010 527,015            
Area of office property                                 121,314       198,376                                                  
Spread over LIBOR                 125   300   275         275                                     160                  
LIBOR Interest Rate               0.19%     0.19%                                                                      
Interest rate cap                         3.15%                                                                  
Venture sale of real estate   83,500,000                             13,900,000                     60,000,000                                 55,000,000  
Mortgage Repayment                     1,700,000                                                                      
Mortgage loan refinanced amount                     18,600,000                                                                      
Management, leasing and other services fees               24,000   24,000 48,000 48,000     113,000 234,000     274,000 467,000           71,800 142,300               40,000 94,500 79,000 131,500     87,000 213,000 621,000      
Acquisition cost                                             125,000,000                                 1,800,000            
Venture property acquisition cost                                                               100,000,000                            
Book value of company's long-term debt             5,900,000                                                                              
Service costs                                                                     0 3,000,000 0 4,000,000                
Mortgage loans on real estate bearing weighted average fixed interest rate 185,000,000                                                                                          
Weighted average fixed interest rate 6.26%                                                                                          
Loan Maturity Date Aug. 01, 2020
Repayments of debt                                         26,800,000                                                  
Share of gain on sale of real estate                                                       1,600,000                               41,000    
Number of owned office properties       25                                                                                    
Number of properties sold   8                             1                                                          
Venture gain (loss) on sale of real estate   22,300,000                                                   19,800,000                                 207,000  
Impairment charge on property                                           32,300,000                     69,500,000                          
Sharing percent of amount realized                         50.00%                                                                  
Distribution received from venture                                                       2,400,000                                    
Distribution received                                                       $ 5,400,000                                    
Holding and distribution pattern under operating agreement                          

The Mack-Green operating agreement generally provided for profits and losses to be allocated as follows:

 

 

(i)

99 percent of Mack-Green's share of the profits and losses from 10 specific OPLP Properties allocable to the Company and one percent allocable to SL Green;

 

(ii)

one percent of Mack-Green's share of the profits and losses from eight specific OPLP Properties and its minor interest in four office properties allocable to the Company and 99 percent allocable to SL Green; and

(iii)         50 percent of all other profits and losses allocable to the Company and 50 percent allocable to SL Green.

                            
Under the operating agreement of 12 Vreeland Associates, L.L.C., M-C Vreeland has a 50 percent interest, with S/K Florham Park Associates, L.L.C. (the managing member) and its affiliate holding the other 50 percent.
  

Distributions will generally be in proportion to its members' respective ownership interests and, depending upon the development unit, promotes will be available to specified partners after the achievement of certain internal rates of return ranging from 10 to 15 percent.

    

The operating agreement of M-C Jefferson provides, among other things, for the Participation Rights (see Note 15: Noncontrolling Interests in Subsidiaries – Participation Rights).  The operating agreements of Gale Jefferson, L.L.C. ("Gale Jefferson"), which is owned 33.33 percent by M-C Jefferson and 66.67 percent by the Hampshire Generational Fund, L.L.C. ("Hampshire") provides, among other things, for the distribution of net cash flow, first, in accordance with its member's respective interests until each member is provided, as a result of such distributions, with an annual 12 percent compound return on the Member's Capital Contributions, as defined in the operating agreement and secondly, 50 percent to each of the Company and Hampshire.