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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2018	Jul. 27, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q2
Trading Symbol	ALX
Entity Registrant Name	ALEXANDERS INC
Entity Central Index Key	0000003499
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		5,107,290

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Real estate, at cost:
Land	$ 44,971	$ 44,971
Buildings and leasehold improvements	976,342	988,846
Development and construction in progress	3,695	3,551
Total	1,025,008	1,037,368
Accumulated depreciation and amortization	(283,885)	(283,044)
Real estate, net	741,123	754,324
Cash and cash equivalents	293,840	307,536
Restricted cash	6,243	85,743
Rego Park II loan participation	197,018	198,537
Marketable securities	30,419	35,156
Tenant and other receivables, net of allowance for doubtful accounts of $1,433 and $1,501, respectively	3,022	2,693
Receivable arising from the straight-lining of rents	172,675	174,713
Deferred leasing costs, net, including unamortized leasing fees to Vornado of $33,108 and $35,152, respectively	43,234	45,790
Other assets	36,683	27,903
Total assets	1,524,257	1,632,395
LIABILITIES AND EQUITY
Mortgages payable, net of deferred debt issuance costs	1,162,632	1,240,222
Amounts due to Vornado	434	2,490
Accounts payable and accrued expenses	41,873	42,827
Other liabilities	13,147	2,901
Total liabilities	1,218,086	1,288,440
Commitments and contingencies
Preferred stock: $1.00 par value per share; authorized, 3,000,000 shares; issued and outstanding, none	0	0
Common stock: $1.00 par value per share; authorized, 10,000,000 shares; issued, 5,173,450 shares; outstanding, 5,107,290 shares	5,173	5,173
Additional capital	31,971	31,577
Retained earnings	269,525	302,543
Accumulated other comprehensive (loss) income	(130)	5,030
Equity before treasury stock	306,539	344,323
Treasury stock: 66,160 shares, at cost	(368)	(368)
Total equity	306,171	343,955
Total liabilities and equity	$ 1,524,257	$ 1,632,395

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1,433	$ 1,501
Unamortized leasing fees to Vornado	$ 33,108	$ 35,152
Preferred stock: par value per share (in usd per share)	$ 1.00	$ 1.00
Preferred stock: authorized shares	3,000,000	3,000,000
Preferred stock: issued shares	0	0
Preferred stock: outstanding shares	0	0
Common stock: par value per share (in usd per share)	$ 1.00	$ 1.00
Common stock: authorized shares	10,000,000	10,000,000
Common stock: issued shares	5,173,450	5,173,450
Common stock: outstanding shares	5,107,290	5,107,290
Treasury stock: shares	66,160	66,160

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
REVENUES
Property rentals	$ 38,618	$ 38,264	$ 76,859	$ 76,537
Expense reimbursements	19,635	18,926	39,274	37,882
Total revenues	58,253	57,190	116,133	114,419
EXPENSES
Operating, including fees to Vornado of $1,109, $1,091, $2,275 and $2,219, respectively	21,511	20,744	43,788	41,665
Depreciation and amortization	8,700	8,138	16,983	16,183
General and administrative, including management fees to Vornado of $595 and $1,190 in each three and six month period, respectively	1,689	1,696	2,950	2,852
Total expenses	31,900	30,578	63,721	60,700
OPERATING INCOME	26,353	26,612	52,412	53,719
Interest and other income, net	1,730	1,297	4,768	2,024
Interest and debt expense	(10,945)	(7,255)	(20,774)	(13,415)
Change in fair value of marketable securities (see Note 7)	433	0	(4,737)	0
Income before income taxes	17,571	20,654	31,669	42,328
Income tax (expense) benefit	(1)	6	(2)	(1)
Income from continuing operations	17,570	20,660	31,667	42,327
Loss from discontinued operations (see Note 8)	0	0	(23,797)	0
Net income	$ 17,570	$ 20,660	$ 7,870	$ 42,327
Income from continuing operations - basic and diluted (in usd per share)	$ 3.43	$ 4.04	$ 6.19	$ 8.28
Loss from discontinuing operations (see Note 8) - basic and diluted (in usd per share)	0.00	0.00	(4.65)	0.00
Net income per common share - basic and diluted (in usd per share)	$ 3.43	$ 4.04	$ 1.54	$ 8.28
Weighted average shares outstanding - basic and diluted	5,116,657	5,115,320	5,116,321	5,115,012
Dividends per common share (in usd per share)	$ 4.5	$ 4.25	$ 9	$ 8.5

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Fees to Vornado	$ 1,109	$ 1,091	$ 2,275	$ 2,219
Management fees to Vornado	$ 595	$ 595	$ 1,190	$ 1,190

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 17,570	$ 20,660	$ 7,870	$ 42,327
Other comprehensive loss:
Change in fair value of marketable securities (see Note 7)	0	(3,394)	0	(6,841)
Change in fair value of interest rate cap	(52)	(112)	(4)	(56)
Comprehensive income	$ 17,518	$ 17,154	$ 7,866	$ 35,430

Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning Balance, Value at Dec. 31, 2016	$ 352,845	$ 5,173	$ 31,189	$ 308,995	$ 7,862	$ (374)
Beginning Balance, Shares at Dec. 31, 2016		5,173,000
Net income	42,327			42,327
Dividends paid	(43,474)			(43,474)
Change in fair value of marketable securities	(6,841)				(6,841)
Change in fair value of interest rate cap	(56)				(56)
Deferred stock unit grants	394		394
Other	0		(6)			6
Ending Balance, Value at Jun. 30, 2017	345,195	$ 5,173	31,577	307,848	965	(368)
Ending Balance, Shares at Jun. 30, 2017		5,173,000
Beginning Balance, Value at Dec. 31, 2017	$ 343,955	$ 5,173	31,577	302,543	5,030	(368)
Beginning Balance, Shares at Dec. 31, 2017	5,173,450	5,173,000
Net income	$ 7,870			7,870
Dividends paid	(46,044)			(46,044)
Cumulative effect of change in accounting principle (see Note 3)	0			5,156	(5,156)
Change in fair value of marketable securities	0
Change in fair value of interest rate cap	(4)				(4)
Deferred stock unit grants	394		394
Ending Balance, Value at Jun. 30, 2018	$ 306,171	$ 5,173	$ 31,971	$ 269,525	$ (130)	$ (368)
Ending Balance, Shares at Jun. 30, 2018	5,173,450	5,173,000

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 7,870	$ 42,327
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, including amortization of debt issuance costs	19,740	17,334
Straight-lining of rental income	2,038	2,149
Stock-based compensation	394	394
Change in fair value of marketable securities (see Note 7)	4,737	0
Changes in operating assets and liabilities:
Tenant and other receivables, net	(329)	280
Other assets	(8,785)	(26,191)
Amounts due to Vornado	(2,064)	(319)
Accounts payable and accrued expenses	(382)	(155)
Other liabilities	10,246	(14)
Net cash provided by operating activities	33,465	35,805
CASH FLOWS FROM INVESTING ACTIVITIES
Construction in progress and real estate additions	(1,789)	(2,205)
Principal repayment proceeds from Rego Park II loan participation	1,519	0
Net cash used in investing activities	(270)	(2,205)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt repayments	(158,452)	(301,819)
Proceeds from borrowing	78,246	500,000
Dividends paid	(46,044)	(43,474)
Debt issuance costs	(141)	(11,962)
Net cash (used in) provided by financing activities	(126,391)	142,745
Net (decrease) increase in cash and cash equivalents and restricted cash	(93,196)	176,345
Cash and cash equivalents and restricted cash at beginning of period	393,279	374,678
Cash and cash equivalents and restricted cash at end of period	300,083	551,023
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents at beginning of period	307,536	288,926
Restricted cash at beginning of period	85,743	85,752
Cash and cash equivalents and restricted cash at beginning of period	393,279	374,678
Cash and cash equivalents at end of period	293,840	466,456
Restricted cash at end of period	6,243	84,567
Cash and cash equivalents and restricted cash at end of period	300,083	551,023
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest	17,782	11,758
NON-CASH TRANSACTIONS
Liability for real estate additions, including $29 and $27 for development fees due to Vornado in 2018 and 2017, respectively	209	115
Write-off of fully amortized and/or depreciated assets	$ 13,742	$ 4,265

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Liability for real estate additions due to Vornado	$ 209	$ 115
Development fees \| Vornado
Liability for real estate additions due to Vornado	$ 29	$ 27

Organization	6 Months Ended
Organization	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Alexander’s, Inc. (NYSE: ALX) is a real estate investment trust (“REIT”), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to “we,” “us,” “our,” “Company” and “Alexander’s” refer to Alexander’s, Inc. and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (“Vornado”) (NYSE: VNO). We have seven properties in the greater New York City metropolitan area.

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements are unaudited and include the accounts of Alexander’s and its consolidated subsidiaries. All intercompany amounts have been eliminated. In our opinion, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. These condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (the “SEC”) and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the SEC. We have made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The results of operations for the three and six months ended June 30, 2018 are not necessarily indicative of the operating results for the full year. We operate in one reportable segment.

Recently Issued Accounting Literature

6 Months Ended

Jun. 30, 2018

Accounting Changes and Error Corrections [Abstract]

Recently Issued Accounting Literature

In May 2014, the Financial Accounting Standards Board (“FASB”) issued an update (“ASU 2014-09”) establishing Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASU 2014-09, as amended by subsequent ASUs on the topic, establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard, which is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017, requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures (see Note 4). We adopted this standard effective January 1, 2018 using the modified retrospective approach, which allows us to apply the new standard to all existing contracts not yet completed as of the effective date and record a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The adoption of this standard did not have a material impact on our consolidated financial statements.

In January 2016, the FASB issued an update (“ASU 2016-01”) Recognition and Measurement of Financial Assets and Financial Liabilities to ASC Topic 825, Financial Instruments (“ASC 825”). ASU 2016-01 amends certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. We adopted this update effective January 1, 2018 using the modified retrospective approach. While the adoption of this update requires us to continue to measure “marketable securities” at fair value at each reporting date, the changes in fair value will be recognized in current period earnings as opposed to “other comprehensive loss.” As a result, on January 1, 2018 we recorded an increase to retained earnings of $5,156,000 to recognize the unrealized gains previously recorded within “accumulated other comprehensive (loss) income.” For the three months ended June 30, 2018 we recorded an increase in the fair value of our marketable securities of $433,000, resulting from The Macerich Company’s (“Macerich”) closing share price of $56.83 as of June 30, 2018, compared to $56.02 as of March 31, 2018. For the six months ended June 30, 2018 we recorded a decrease in the fair value of our marketable securities of $4,737,000, resulting from Macerich’s closing share price of $56.83 as of June 30, 2018, compared to $65.68 as of December 31, 2017.

ALEXANDER’S, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(UNAUDITED)


3.	Recently Issued Accounting Literature - continued

In February 2016, the FASB issued an update (“ASU 2016-02”) establishing ASC Topic 842, Leases, as amended by subsequent ASUs on the topic, which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. ASU 2016-02 requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase. Lessees are required to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. Lessees will recognize expense based on the effective interest method for finance leases or on a straight-line basis for operating leases. The accounting applied by the lessor is largely unchanged from that applied under the existing lease standard. We are currently evaluating the overall impact of the adoption of ASU 2016-02 on our consolidated financial statements and believe that the standard will more significantly impact the accounting for leases in which we are a lessee. We will be required to record a right-of-use asset and lease liability for our Flushing property ground lease, equal to the present value of the remaining minimum lease payments, and will continue to recognize expense on a straight-line basis upon adoption of this standard. ASU 2016-02 is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2018, with early adoption permitted. We will adopt this standard effective January 1, 2019 and will elect to use the practical expedients provided by this standard.

In February 2017, the FASB issued an update (“ASU 2017-05”) Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets to ASC Subtopic 610-20, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets. ASU 2017-05 clarifies the scope of recently established guidance on nonfinancial asset derecognition, as well as the accounting for partial sales of nonfinancial assets. This update conforms the derecognition guidance on nonfinancial assets with the model for transactions in ASC 606. ASU 2017-05 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. We adopted this update effective January 1, 2018 using the modified retrospective approach to all contracts not yet completed. The adoption of this update did not have a material impact on our consolidated financial statements.

In August 2017, the FASB issued an update (“ASU 2017-12”) Targeted Improvements to Accounting for Hedging Activities to ASC Topic 815, Derivatives and Hedging (“ASC 815”). ASU 2017-12 amends the hedge accounting recognition and presentation requirements in ASC 815. The update is intended to more closely align hedge accounting with companies’ risk management strategies, simplify the application of hedge accounting and increase transparency as to the scope and results of hedge programs. The update ASU 2017-12 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2018, with early adoption permitted. We elected to early adopt ASU 2017-12 effective January 1, 2018 using the modified retrospective approach. The adoption of this update did not have a material impact on our consolidated financial statements.

Revenue Recognition

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Our revenues consist of property rentals and expense reimbursements. We have the following revenue sources and revenue recognition policies:

•

Base Rent is revenue arising from tenant leases. These rents are recognized over the non-cancelable term of the related leases on a straight-line basis, which includes the effects of rent steps and rent abatements. We commence rental revenue recognition when the tenant takes possession of the leased space and the leased space is substantially ready for its intended use. In addition, in circumstances where we provide a tenant improvement allowance for improvements that are owned by the tenant, we recognize the allowance as a reduction of rental revenue on a straight-line basis over the term of the lease.


•	Percentage Rent is revenue arising from retail tenant leases that is contingent upon the sales of tenants exceeding defined thresholds. These rents are recognized only after the contingency has been removed (i.e., when tenant sales thresholds have been achieved).


•	Parking Revenue arising from the rental of parking spaces at our properties. This income is recognized as the services are provided.


•	Operating Expense Reimbursements is revenue arising from tenant leases which provide for the recovery of all or a portion of the operating expenses and real estate taxes of our properties. Revenue is recognized in the same period as the related expenses are incurred.


•	Tenant Services is revenue arising from sub-metered electric, elevator and other services provided to tenants at their request. This revenue is recognized as the services are transferred.

Parking revenue and tenant services income represent revenue recognized from contracts with customers and are recognized in accordance with ASC 606. Base rent, percentage rent and operating expense reimbursements are recognized in accordance with ASC Topic 840, Leases.

The following is a summary of revenue sources for the three and six months ended June 30, 2018 and 2017.



	Three Months Ended June 30,					Six Months Ended June 30,
(Amounts in thousands)	2018		2017			2018		2017
Base rent	$	37,210	$	36,751		$	73,910	$	73,413
Percentage rent	—		(34		)	234		163
Parking revenue	1,408		1,547			2,715		2,961
Property rentals	38,618		38,264			76,859		76,537

Operating expense reimbursements	18,696		17,830			37,376		35,850
Tenant services	939		1,096			1,898		2,032
Expense reimbursements	19,635		18,926			39,274		37,882
Total revenues	$	58,253	$	57,190		$	116,133	$	114,419

Rego Park II Loan Participation	6 Months Ended
Rego Park II Loan Participation	Jun. 30, 2018
Accounting Policies [Abstract]
Rego Park II Loan Participation	Rego Park II Loan Participation On July 28, 2017, we entered into a participation and servicing agreement with the lender on our Rego Park II shopping center loan, which matures on November 30, 2018. We paid $200,000,000 to participate in the loan and are entitled to interest of LIBOR plus 1.60% (3.69% as of June 30, 2018). The investment is presented as “Rego Park II loan participation” on our consolidated balance sheets as of June 30, 2018 and December 31, 2017, and interest earned is recognized as “interest and other income, net” in our consolidated statements of income for the three and six months ended June 30, 2018.

Related Party Transactions

6 Months Ended

Jun. 30, 2018

Related Party Transactions

Vornado

As of June 30, 2018, Vornado owned 32.4% of our outstanding common stock. We are managed by, and our properties are leased and developed by, Vornado, pursuant to the agreements described below, which expire in March of each year and are automatically renewable.

Management and Development Agreements

We pay Vornado an annual management fee equal to the sum of (i) $2,800,000, (ii) 2% of gross revenue from the Rego Park II shopping center, (iii) $0.50 per square foot of the tenant-occupied office and retail space at 731 Lexington Avenue and (iv) $315,000, escalating at 3% per annum, for managing the common area of 731 Lexington Avenue. Vornado is also entitled to a development fee equal to 6% of development costs, as defined.

Leasing and Other Agreements

Vornado also provides us with leasing services for a fee of 3% of rent for the first ten years of a lease term, 2% of rent for the eleventh through the twentieth year of a lease term, and 1% of rent for the twenty-first through thirtieth year of a lease term, subject to the payment of rents by tenants. In the event third-party real estate brokers are used, the fees to Vornado increase by 1% and Vornado is responsible for the fees to the third-party real estate brokers.

Vornado is also entitled to a commission upon the sale of any of our assets equal to 3% of gross proceeds, as defined, for asset sales less than $50,000,000 and 1% of gross proceeds, as defined, for asset sales of $50,000,000 or more.

We also have agreements with Building Maintenance Services, a wholly owned subsidiary of Vornado, to supervise (i) cleaning, engineering and security services at our 731 Lexington Avenue property and (ii) security services at our Rego Park I and Rego Park II properties and The Alexander apartment tower.

The following is a summary of fees to Vornado under the various agreements discussed above.



	Three Months Ended June 30,				Six Months Ended June 30,
(Amounts in thousands)	2018		2017		2018		2017
Company management fees	$	700	$	700	$	1,400	$	1,400
Development fees	2		4		9		32
Leasing fees	—		4		—		15
Property management, cleaning, engineering and security fees	939		953		1,965		1,941
	$	1,641	$	1,661	$	3,374	$	3,388

As of June 30, 2018, the amounts due to Vornado were $29,000 for development fees and $405,000 for management, property management, cleaning, engineering and security fees. As of December 31, 2017, the amounts due to Vornado were $1,811,000 for leasing fees; $658,000 for management, property management, cleaning, engineering and security fees; and $21,000 for development fees.

ALEXANDER’S, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(UNAUDITED)


6.	Related Party Transactions - continued

Toys “R” Us, Inc. (“Toys”)

Our affiliate, Vornado, owns 32.5% of Toys. Joseph Macnow, Vornado’s Executive Vice President and Chief Financial Officer and Wendy A. Silverstein, a member of our Board of Directors, represent Vornado as members of Toys’ Board of Directors. In connection with the Toys Chapter 11 bankruptcy, its 47,000 square foot lease at our Rego Park II shopping center ($2,600,000 of annual revenue) was rejected effective June 30, 2018 and possession of the space was returned to us. Consequently, we accelerated depreciation and amortization of the remaining balances of $588,000 of tenant improvements and $215,000 of deferred leasing costs during the three months ended June 30, 2018. We also wrote off the Toys receivable arising from the straight-lining of rent of $500,000 during the six months ended June 30, 2018.

Marketable Securities	6 Months Ended
Marketable Securities	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	Marketable Securities As of June 30, 2018 and December 31, 2017, we owned 535,265 common shares of Macerich (NYSE: MAC). These shares have an economic cost of $56.05 per share, or $30,000,000 in the aggregate. As of June 30, 2018 and December 31, 2017, the fair value of these shares was $30,419,000 and $35,156,000, respectively, based on Macerich’s closing share price of $56.83 per share and $65.68 per share, respectively. These shares are included in “marketable securities” on our consolidated balance sheets and are classified as available-for-sale. Available-for-sale securities are presented at fair value on our consolidated balance sheets. Prior to January 1, 2018, unrealized gains and losses resulting from the change in fair value of these securities were included in “other comprehensive loss.” Effective January 1, 2018, changes in the fair value of these securities are recognized in current period earnings in accordance with ASC 825. For the three months ended June 30, 2018 we recorded an increase in the fair value of our marketable securities of $433,000, resulting from Macerich’s closing share price of $56.83 as of June 30, 2018, compared to $56.02 as of March 31, 2018. For the six months ended June 30, 2018 we recorded a decrease in the fair value of our marketable securities of $4,737,000, resulting from Macerich’s closing share price of $56.83 as of June 30, 2018, compared to $65.68 as of December 31, 2017.

Discontinued Operations	6 Months Ended
Discontinued Operations	Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations In 2012, we sold the Kings Plaza Regional Shopping Center (“Kings Plaza”) and paid real property transfer taxes to New York City in connection with the sale. In 2015, the New York City Department of Finance (“NYC DOF”) issued a Notice of Determination to us assessing an additional New York City real property transfer tax amount, including interest, which we are contesting. In 2014, in a case with similar facts, the NYC DOF issued a Notice of Determination to a Vornado joint venture assessing an additional New York City real property transfer tax amount, including interest. In January 2017, a New York City administrative law judge made a determination upholding the Vornado joint venture’s position that such additional real property transfer taxes were not due. On February 16, 2018, the New York City Tax Appeals Tribunal (the “Tribunal”) overturned the January 2017 determination. The Vornado joint venture is appealing the Tribunal’s decision to the Appellate Division of the Supreme Court of the State of New York. Based on the precedent of the Tribunal’s decision, we accrued an expense for the potential additional real property transfer taxes of $23,797,000 ($15,874,000 of real property transfer tax and $7,923,000 of interest) during the three months ended March 31, 2018. On April 5, 2018, we paid this amount in order to stop the interest from accruing. Our case is on hold pending the outcome of the Vornado joint venture’s appeal. As the results related to Kings Plaza were previously classified as discontinued operations, we have classified the expense as “loss from discontinued operations” on our consolidated statement of income for the six months ended June 30, 2018 in accordance with the provisions of ASC Topic 360, Property, Plant and Equipment.

Significant Tenant	6 Months Ended
Significant Tenant	Jun. 30, 2018
Risks and Uncertainties [Abstract]
Significant Tenant	Significant Tenant Bloomberg L.P. (“Bloomberg”) accounted for revenue of $52,672,000 and $52,187,000 for the six months ended June 30, 2018 and 2017, respectively, representing approximately 45% and 46% of our total revenues in each period, respectively. No other tenant accounted for more than 10% of our total revenues. If we were to lose Bloomberg as a tenant, or if Bloomberg were to be unable to fulfill its obligations under its lease, it would adversely affect our results of operations and financial condition. In order to assist us in our continuing assessment of Bloomberg’s creditworthiness, we receive certain confidential financial information and metrics from Bloomberg. In addition, we access and evaluate financial information regarding Bloomberg from other private sources, as well as publicly available data.

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation We account for stock-based compensation in accordance with ASC Topic 718, Compensation – Stock Compensation. Our 2016 Omnibus Stock Plan (the “Plan”) provides for grants of incentive and non-qualified stock options, restricted stock, stock appreciation rights, deferred stock units (“DSUs”) and performance shares, as defined, to the directors, officers and employees of the Company and Vornado. In May 2018, we granted each of the members of our Board of Directors 195 DSUs with a grant date fair value of $56,250 per grant, or $394,000 in the aggregate. The DSUs entitle the holders to receive shares of the Company’s common stock without the payment of any consideration. The DSUs vested immediately and accordingly, were expensed on the date of grant, but the shares of common stock underlying the DSUs are not deliverable to the grantee until the grantee is no longer serving on the Company’s Board of Directors. As of June 30, 2018, there were 10,057 DSUs outstanding and 495,730 shares were available for future grant under the Plan.

Mortgages Payable

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Mortgages Payable

The following is a summary of our outstanding mortgages payable as of June 30, 2018 and December 31, 2017. We may refinance our maturing debt as it comes due or choose to repay it.



			Balance at
(Amounts in thousands)	Maturity⁽¹⁾	Interest Rate at June 30, 2018	June 30, 2018			December 31, 2017
First mortgages secured by:
Paramus	Oct. 2018	2.90%	$	68,000		$	68,000
Rego Park II shopping center⁽²⁾	Nov. 2018	3.94%	254,234			256,194
731 Lexington Avenue, retail space⁽³⁾	Aug. 2022	3.41%	350,000			350,000
731 Lexington Avenue, office space⁽⁴⁾	Jun. 2024	2.97%	500,000			500,000
Rego Park I shopping center (100% cash collateralized)⁽⁵⁾	—	—	—			78,246
Total			1,172,234			1,252,440
Deferred debt issuance costs, net of accumulated amortization of $8,915 and $6,315, respectively			(9,602		)	(12,218		)
			$	1,162,632		$	1,240,222


(1)	Represents the extended maturity where we have the unilateral right to extend.


(2)	Interest at LIBOR plus 1.85%. See Note 5 for details of our Rego Park II loan participation.


(3)	Interest at LIBOR plus 1.40%.


(4)	Interest at LIBOR plus 0.90%.


(5)	Refinanced on May 11, 2018 and repaid on June 6, 2018.

Fair Value Measurements

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”) defines fair value and establishes a framework for measuring fair value. ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 – quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 – observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 – unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as consider counterparty credit risk in our assessment of fair value.

Financial Assets and Liabilities Measured at Fair Value

Financial assets measured at fair value on our consolidated balance sheets as of June 30, 2018 and December 31, 2017, consist of marketable securities and an interest rate cap, which are presented in the table below based on their level in the fair value hierarchy. There were no financial liabilities measured at fair value as of June 30, 2018 and December 31, 2017.



	As of June 30, 2018
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Marketable securities	$	30,419	$	30,419	$	—	$	—
Interest rate cap (included in other assets)	2		—		2		—
Total assets	$	30,421	$	30,419	$	2	$	—



	As of December 31, 2017
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Marketable securities	$	35,156	$	35,156	$	—	$	—
Interest rate cap (included in other assets)	6		—		6		—
Total assets	$	35,162	$	35,156	$	6	$	—

Financial Assets and Liabilities not Measured at Fair Value

Financial assets and liabilities that are not measured at fair value on our consolidated balance sheets include cash equivalents, the Rego Park II loan participation and mortgages payable. Cash equivalents are carried at cost, which approximates fair value due to their short-term maturities and are classified as Level 1. The fair values of the Rego Park II loan participation and our mortgages payable are calculated by discounting the future contractual cash flows of these instruments using current risk-adjusted rates available to borrowers with similar credit ratings, which are provided by a third-party specialist, and are classified as Level 2. The table below summarizes the carrying amounts and fair value of these financial instruments as of June 30, 2018 and December 31, 2017.



	As of June 30, 2018				As of December 31, 2017
(Amounts in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value

Assets:
Cash equivalents	$	259,774	$	259,774	$	273,914	$	273,914
Rego Park II loan participation	197,018		197,000		198,537		198,000
	$	456,792	$	456,774	$	472,451	$	471,914
Liabilities:
Mortgages payable (excluding deferred debt issuance costs, net)	$	1,172,234	$	1,162,000	$	1,252,440	$	1,239,000

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Insurance

We maintain general liability insurance with limits of $300,000,000 per occurrence and per property, and all-risk property and rental value insurance coverage with limits of $1.7 billion per occurrence, including coverage for acts of terrorism, with sub-limits for certain perils such as floods and earthquakes on each of our properties.

Fifty Ninth Street Insurance Company, LLC (“FNSIC”), our wholly owned consolidated subsidiary, acts as a direct insurer for coverage for acts of terrorism, including nuclear, biological, chemical and radiological (“NBCR”) acts, as defined by the Terrorism Risk Insurance Program Reauthorization Act, which expires in December 2020. Coverage for acts of terrorism (including NBCR acts) is up to $1.7 billion per occurrence and in the aggregate. Coverage for acts of terrorism (excluding NBCR acts) is fully reinsured by third party insurance companies and the Federal government with no exposure to FNSIC. For NBCR acts, FNSIC is responsible for a $306,000 deductible and 18% of the balance of a covered loss, and the Federal government is responsible for the remaining 82% of a covered loss. We are ultimately responsible for any loss incurred by FNSIC.

We continue to monitor the state of the insurance market and the scope and costs of coverage for acts of terrorism. However, we cannot anticipate what coverage will be available on commercially reasonable terms in the future. We are responsible for deductibles and losses in excess of our insurance coverage, which could be material.

Our mortgage loans are non-recourse to us and contain customary covenants requiring us to maintain insurance. Although we believe that we have adequate insurance coverage for purposes of these agreements, we may not be able to obtain an equivalent amount of coverage at reasonable costs in the future. If lenders insist on greater coverage than we are able to obtain, it could adversely affect our ability to finance our properties.

Paramus

In 2001, we leased 30.3 acres of land located in Paramus, New Jersey to IKEA Property, Inc. The lease has a purchase option in 2021 for $75,000,000. The property is encumbered by a $68,000,000 interest-only mortgage loan with a fixed rate of 2.90%, which matures on October 5, 2018. The annual triple-net rent is the sum of $700,000 plus the amount of debt service on the mortgage loan. If the purchase option is exercised, we will receive net cash proceeds of approximately $7,000,000 and recognize a gain on sale of land of approximately $60,000,000. If the purchase option is not exercised, the triple-net rent for the last 20 years would include debt service sufficient to fully amortize $68,000,000 over the remaining 20-year lease term.

Rego Park I Litigation

In June 2014, Sears Roebuck and Co. (“Sears”) filed a lawsuit in the Supreme Court of the State of New York against Vornado and us (and certain of our subsidiaries) with regard to space that Sears leases at our Rego Park I property alleging that the defendants are liable for harm that Sears has suffered as a result of (a) water intrusions into the premises, (b) two fires in February 2014 that caused damages to those premises, and (c) alleged violations of the Americans with Disabilities Act in the premises’ parking garage. Sears asserted various causes of actions for damages and sought to compel compliance with landlord’s obligations to repair the premises and to provide security, and to compel us to abate a nuisance that Sears claims was a cause of the water intrusions into its premises. In addition to injunctive relief, Sears sought, among other things, damages of not less than $4 million and future damages it estimated would not be less than $25 million. In March 2016, Sears withdrew its claim for future damages leaving a remaining claim for property damages, which we estimate to be approximately $650,000 based on information provided by Sears. We intend to defend the remaining claim vigorously. The amount or range of reasonably possible losses, if any, is not expected to be greater than $650,000.

On April 4, 2017, Sears closed its 195,000 square foot store at our Rego Park I property. Annual revenue is approximately $10,400,000, under a lease which expires in March 2021. In its 2016 annual report on Form 10-K, Sears indicated that substantial doubt exists related to its ability to continue as a going concern. There are $3,271,000 of receivables arising from the straight-lining of rent and $343,000 of unamortized deferred leasing costs on our consolidated balance sheet related to the Sears lease as of June 30, 2018 which we will continue to assess for recoverability.

ALEXANDER’S, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(UNAUDITED)


13.	Commitments and Contingencies - continued

Letters of Credit

Approximately $1,040,000 of standby letters of credit were issued and outstanding as of June 30, 2018.

Other

There are various other legal actions against us in the ordinary course of business. In our opinion, the outcome of such matters in the aggregate will not have a material effect on our financial position, results of operations or cash flows.

Earnings Per Share

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the computation of basic and diluted income per share. Basic income per share is determined using the weighted average shares of common stock outstanding during the period. Diluted income per share is determined using the weighted average shares of common stock outstanding during the period, and assumes all potentially dilutive securities were converted into common shares at the earliest date possible. There were no potentially dilutive securities outstanding during the three and six months ended June 30, 2018 and 2017.



	Three Months Ended June 30,				Six Months Ended June 30,
(Amounts in thousands, except share and per share amounts)	2018		2017		2018			2017
Income from continuing operations	$	17,570	$	20,660	$	31,667		$	42,327
Loss from discontinued operations (see Note 8)	—		—		(23,797		)	—
Net income	$	17,570	$	20,660	$	7,870		$	42,327

Weighted average shares outstanding – basic and diluted	5,116,657		5,115,320		5,116,321			5,115,012

Income from continuing operations	$	3.43	$	4.04	$	6.19		$	8.28
Loss from discontinued operations (see Note 8)	—		—		(4.65		)	—
Net income per common share – basic and diluted	$	3.43	$	4.04	$	1.54		$	8.28

Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

The accompanying consolidated financial statements are unaudited and include the accounts of Alexander’s and its consolidated subsidiaries. All intercompany amounts have been eliminated. In our opinion, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. These condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (the “SEC”) and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the SEC.

We have made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The results of operations for the three and six months ended June 30, 2018 are not necessarily indicative of the operating results for the full year.

We operate in one reportable segment.

Fair value of financial instruments

Leases

Recently Issued Accounting Literature

Hedging Activities

Marketable Securities

Available-for-sale securities are presented at fair value on our consolidated balance sheets. Prior to January 1, 2018, unrealized gains and losses resulting from the change in fair value of these securities were included in “other comprehensive loss.” Effective January 1, 2018, changes in the fair value of these securities are recognized in current period earnings in accordance with ASC 825.

Fair Value Measurement

Revenue recognition

Our revenues consist of property rentals and expense reimbursements. We have the following revenue sources and revenue recognition policies:

•


•	Percentage Rent is revenue arising from retail tenant leases that is contingent upon the sales of tenants exceeding defined thresholds. These rents are recognized only after the contingency has been removed (i.e., when tenant sales thresholds have been achieved).


•	Parking Revenue arising from the rental of parking spaces at our properties. This income is recognized as the services are provided.


•	Operating Expense Reimbursements is revenue arising from tenant leases which provide for the recovery of all or a portion of the operating expenses and real estate taxes of our properties. Revenue is recognized in the same period as the related expenses are incurred.


•	Tenant Services is revenue arising from sub-metered electric, elevator and other services provided to tenants at their request. This revenue is recognized as the services are transferred.

- Definition

Disclosure of accounting policy for investments in debt and equity securities that are classified as available-for-sale. This policy also may describe the entity's accounting treatment for transfers between investment categories, how the entity determines whether impairments of available-for-sale securities are other than temporary, and how the fair values of such securities are determined.

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+ Details

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following is a summary of revenue sources for the three and six months ended June 30, 2018 and 2017.



	Three Months Ended June 30,					Six Months Ended June 30,
(Amounts in thousands)	2018		2017			2018		2017
Base rent	$	37,210	$	36,751		$	73,910	$	73,413
Percentage rent	—		(34		)	234		163
Parking revenue	1,408		1,547			2,715		2,961
Property rentals	38,618		38,264			76,859		76,537

Operating expense reimbursements	18,696		17,830			37,376		35,850
Tenant services	939		1,096			1,898		2,032
Expense reimbursements	19,635		18,926			39,274		37,882
Total revenues	$	58,253	$	57,190		$	116,133	$	114,419

Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2018

Summary of Fees to Vornado

The following is a summary of fees to Vornado under the various agreements discussed above.



	Three Months Ended June 30,				Six Months Ended June 30,
(Amounts in thousands)	2018		2017		2018		2017
Company management fees	$	700	$	700	$	1,400	$	1,400
Development fees	2		4		9		32
Leasing fees	—		4		—		15
Property management, cleaning, engineering and security fees	939		953		1,965		1,941
	$	1,641	$	1,661	$	3,374	$	3,388

Mortgages Payable (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Summary of Outstanding Mortgages Payable

The following is a summary of our outstanding mortgages payable as of June 30, 2018 and December 31, 2017. We may refinance our maturing debt as it comes due or choose to repay it.



			Balance at
(Amounts in thousands)	Maturity⁽¹⁾	Interest Rate at June 30, 2018	June 30, 2018			December 31, 2017
First mortgages secured by:
Paramus	Oct. 2018	2.90%	$	68,000		$	68,000
Rego Park II shopping center⁽²⁾	Nov. 2018	3.94%	254,234			256,194
731 Lexington Avenue, retail space⁽³⁾	Aug. 2022	3.41%	350,000			350,000
731 Lexington Avenue, office space⁽⁴⁾	Jun. 2024	2.97%	500,000			500,000
Rego Park I shopping center (100% cash collateralized)⁽⁵⁾	—	—	—			78,246
Total			1,172,234			1,252,440
Deferred debt issuance costs, net of accumulated amortization of $8,915 and $6,315, respectively			(9,602		)	(12,218		)
			$	1,162,632		$	1,240,222


(1)	Represents the extended maturity where we have the unilateral right to extend.


(2)	Interest at LIBOR plus 1.85%. See Note 5 for details of our Rego Park II loan participation.


(3)	Interest at LIBOR plus 1.40%.


(4)	Interest at LIBOR plus 0.90%.


(5)	Refinanced on May 11, 2018 and repaid on June 6, 2018.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value



	As of June 30, 2018
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Marketable securities	$	30,419	$	30,419	$	—	$	—
Interest rate cap (included in other assets)	2		—		2		—
Total assets	$	30,421	$	30,419	$	2	$	—



	As of December 31, 2017
(Amounts in thousands)	Total		Level 1		Level 2		Level 3
Marketable securities	$	35,156	$	35,156	$	—	$	—
Interest rate cap (included in other assets)	6		—		6		—
Total assets	$	35,162	$	35,156	$	6	$	—

Financial Assets and Liabilities Not Measured at Fair Value

The table below summarizes the carrying amounts and fair value of these financial instruments as of June 30, 2018 and December 31, 2017.



	As of June 30, 2018				As of December 31, 2017
(Amounts in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value

Assets:
Cash equivalents	$	259,774	$	259,774	$	273,914	$	273,914
Rego Park II loan participation	197,018		197,000		198,537		198,000
	$	456,792	$	456,774	$	472,451	$	471,914
Liabilities:
Mortgages payable (excluding deferred debt issuance costs, net)	$	1,172,234	$	1,162,000	$	1,252,440	$	1,239,000

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted



	Three Months Ended June 30,				Six Months Ended June 30,
(Amounts in thousands, except share and per share amounts)	2018		2017		2018			2017
Income from continuing operations	$	17,570	$	20,660	$	31,667		$	42,327
Loss from discontinued operations (see Note 8)	—		—		(23,797		)	—
Net income	$	17,570	$	20,660	$	7,870		$	42,327

Weighted average shares outstanding – basic and diluted	5,116,657		5,115,320		5,116,321			5,115,012

Income from continuing operations	$	3.43	$	4.04	$	6.19		$	8.28
Loss from discontinued operations (see Note 8)	—		—		(4.65		)	—
Net income per common share – basic and diluted	$	3.43	$	4.04	$	1.54		$	8.28

Organization - Additional Information (Detail)	Jun. 30, 2018 property
Operating Property
Real Estate Properties [Line Items]
Number of properties in greater New York City metropolitan area	7

Basis of Presentation - Additional Information (Detail)	6 Months Ended
Basis of Presentation - Additional Information (Detail)	Jun. 30, 2018 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

Recently Issued Accounting Literature - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 269,525		$ 269,525				$ 302,543
Change in fair value of marketable securities (see Note 7)	$ 433	$ 0	(4,737)	$ 0
Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings						$ 5,156
Macerich Interest
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in fair value of marketable securities (see Note 7)			$ (4,737)
Closing share price	$ 56.83		$ 56.83		$ 56.02		$ 65.68
Macerich Interest \| Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in fair value of marketable securities (see Note 7)	$ 433		$ (4,737)

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Property rentals	$ 38,618	$ 38,264	$ 76,859	$ 76,537
Expense reimbursements	19,635	18,926	39,274	37,882
Total revenues	58,253	57,190	116,133	114,419
Base rent
Disaggregation of Revenue [Line Items]
Property rentals	37,210	36,751	73,910	73,413
Percentage rent
Disaggregation of Revenue [Line Items]
Property rentals	0	(34)	234	163
Parking revenue
Disaggregation of Revenue [Line Items]
Property rentals	1,408	1,547	2,715	2,961
Operating expense reimbursements
Disaggregation of Revenue [Line Items]
Expense reimbursements	18,696	17,830	37,376	35,850
Tenant services
Disaggregation of Revenue [Line Items]
Expense reimbursements	$ 939	$ 1,096	$ 1,898	$ 2,032

Rego Park II Loan Participation - Additional Information (Detail) - USD ($) $ in Thousands		6 Months Ended
	Jul. 28, 2017	Jun. 30, 2017	Jun. 30, 2018
Investment In Loan Participation [Line Items]
Rego Park II loan participation payment		$ 0
Participation Agreement \| Rego Park II
Investment In Loan Participation [Line Items]
Loan maturity date	Nov. 30, 2018
Rego Park II loan participation payment	$ 200,000
Debt Instrument, Description of Variable Rate Basis	LIBOR
Interest rate (in percentage)			3.69%
Participation Agreement \| Rego Park II \| LIBOR
Investment In Loan Participation [Line Items]
Basis spread over LIBOR	1.60%

Related Party Transactions - Additional Information (Detail) ft² in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018 USD ($) ft²	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($) ft² $ / ft²	Jun. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)
Related Party Transaction [Line Items]
Receivable arising from the straight-lining of rents	$ 172,675,000		$ 172,675,000		$ 174,713,000
Change in fair value of marketable securities (see Note 7)	433,000	$ 0	(4,737,000)	$ 0
Toys R Us
Related Party Transaction [Line Items]
Receivable arising from the straight-lining of rents	$ 500,000		$ 500,000
Rego Park II \| Retail Space \| Toys R Us
Related Party Transaction [Line Items]
Area of property \| ft²	47		47
Annual revenue from leased property			$ 2,600,000
Vornado
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners	32.40%		32.40%
Management fee agreement value			$ 2,800,000
Vornado \| Toys R Us
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by parent	32.50%		32.50%
Vornado \| Property management, cleaning, engineering and security fees \| Rego Park II \| Retail Space
Related Party Transaction [Line Items]
Property management fee agreement percentage of income			2.00%
Vornado \| Property management, cleaning, engineering and security fees \| 731 Lexington Avenue \| Office and Retail Space
Related Party Transaction [Line Items]
Property management fee agreement price per square foot \| $ / ft²			0.50
Vornado \| Property management, cleaning, engineering and security fees \| 731 Lexington Avenue \| Common Area
Related Party Transaction [Line Items]
Property management fee agreement value			$ 315,000
Property management fee escalation percentage per annum			3.00%
Vornado \| Development fees
Related Party Transaction [Line Items]
Development fee as percentage of development costs			6.00%
Amount Due to / (Fees paid to) related party	$ 29,000		$ 29,000		21,000
Vornado \| Leasing fees
Related Party Transaction [Line Items]
Lease fee percentage of rent one to ten years			3.00%
Lease fee percentage of rent eleven to twenty years			2.00%
Lease fee percentage of rent twenty first to thirty years			1.00%
Percentage increase lease fee if broker used			1.00%
Percentage commissions on sale of assets under fifty million			3.00%
Asset sale commission threshold			$ 50,000,000
Percentage commissions on sale of assets over fifty million			1.00%
Amount Due to / (Fees paid to) related party					1,811,000
Vornado \| Management, Property Management, Cleaning, Engineering and Security Fees
Related Party Transaction [Line Items]
Amount Due to / (Fees paid to) related party	405,000		$ 405,000		$ 658,000
Tenant Improvements \| Toys R Us
Related Party Transaction [Line Items]
Depreciation and amortization	588,000
Deferred Leasing Costs \| Toys R Us
Related Party Transaction [Line Items]
Depreciation and amortization	$ 215,000

Related Party Transactions - Summary of Fees to Vornado (Detail) - Vornado - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Related Party Transaction [Line Items]
Fees to related party	$ 1,641	$ 1,661	$ 3,374	$ 3,388
Company management fees
Related Party Transaction [Line Items]
Fees to related party	700	700	1,400	1,400
Development fees
Related Party Transaction [Line Items]
Fees to related party	2	4	9	32
Leasing fees
Related Party Transaction [Line Items]
Fees to related party	0	4	0	15
Property management, cleaning, engineering and security fees
Related Party Transaction [Line Items]
Fees to related party	$ 939	$ 953	$ 1,965	$ 1,941

Marketable Securities - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018	Dec. 31, 2017
Investment Holdings [Line Items]
Change in fair value of marketable securities (see Note 7)	$ 433	$ 0	$ (4,737)	$ 0
Macerich Interest
Investment Holdings [Line Items]
Macerich common shares	535,265		535,265			535,265
Economic basis per share	$ 56.05		$ 56.05
Economic cost	$ 30,000		$ 30,000
Fair value	$ 30,419		$ 30,419			$ 35,156
Closing share price	$ 56.83		$ 56.83		$ 56.02	$ 65.68
Change in fair value of marketable securities (see Note 7)			$ (4,737)

Discontinued Operations - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018 USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Total real property transfer tax	$ 23,797
Additional real property transfer tax expense	15,874
Real property transfer tax interest	$ 7,923

Significant Tenant - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Real Estate Properties [Line Items]
Real estate revenue, net	$ 58,253,000	$ 57,190,000	$ 116,133,000	$ 114,419,000
Customer Concentration Risk \| Sales Revenue Services Net
Real Estate Properties [Line Items]
Percentage of minimum revenue threshold contributed by one tenant			10.00%
Bloomberg \| Customer Concentration Risk \| Sales Revenue Services Net
Real Estate Properties [Line Items]
Real estate revenue, net			$ 52,672,000	$ 52,187,000
Percentage rent contributed by tenant			45.00%	46.00%

Stock-Based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended
	May 31, 2018	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement By share based payment award equity instruments other than options outstanding number		10,057
Shares available for future grant under the plan		495,730
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award non option equity instruments granted per director	195
Share based compensation arrangement by share based payment award non option equity instruments grant date fair value per grant	$ 56,250
Share based compensation arrangement By share based payment award non option equity instruments grant date fair value total	$ 394,000

Mortgages Payable - Additional Information (Detail) - Mortgages	6 Months Ended
	Jun. 30, 2018
Rego Park II \| Retail Site
Mortgage Loans on Real Estate [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR
Rego Park II \| Retail Site \| LIBOR
Mortgage Loans on Real Estate [Line Items]
Basis spread over LIBOR	1.85%
731 Lexington Avenue \| Retail Site
Mortgage Loans on Real Estate [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR
731 Lexington Avenue \| Retail Site \| LIBOR
Mortgage Loans on Real Estate [Line Items]
Basis spread over LIBOR	1.40%
731 Lexington Avenue \| Office Space
Mortgage Loans on Real Estate [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR
731 Lexington Avenue \| Office Space \| LIBOR
Mortgage Loans on Real Estate [Line Items]
Basis spread over LIBOR	0.90%

Mortgages Payable - Summary of Outstanding Mortgages Payable (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Mortgage Loans on Real Estate [Line Items]
Notes payable	$ 1,162,632	$ 1,240,222
Mortgages
Mortgage Loans on Real Estate [Line Items]
Mortgage payable gross	1,172,234	1,252,440
Deferred debt issuance costs, net of accumulated amortization of $8,915 and $6,315, respectively	(9,602)	(12,218)
Notes payable	$ 1,162,632	1,240,222
Mortgages \| Paramus
Mortgage Loans on Real Estate [Line Items]
Maturity date	Oct. 05, 2018
Interest rate (in percentage)	2.90%
Mortgage payable gross	$ 68,000	68,000
Mortgages \| Rego Park II \| Retail Space
Mortgage Loans on Real Estate [Line Items]
Maturity date	Nov. 30, 2018
Interest rate (in percentage)	3.94%
Mortgage payable gross	$ 254,234	256,194
Mortgages \| 731 Lexington Avenue \| Retail Space
Mortgage Loans on Real Estate [Line Items]
Maturity date	Aug. 01, 2022
Interest rate (in percentage)	3.41%
Mortgage payable gross	$ 350,000	350,000
Mortgages \| 731 Lexington Avenue \| Office Space
Mortgage Loans on Real Estate [Line Items]
Maturity date	Jun. 01, 2024
Interest rate (in percentage)	2.97%
Mortgage payable gross	$ 500,000	500,000
Mortgages \| Rego Park I \| Retail Space
Mortgage Loans on Real Estate [Line Items]
Interest rate (in percentage)	0.00%
Mortgage payable gross	$ 0	$ 78,246

Mortgages Payable - Summary of Outstanding Mortgages Payable Narrative (Detail) - Mortgages - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Mortgage Loans on Real Estate [Line Items]
Deferred debt issuance costs, accumulated amortization	$ 8,915	$ 6,315
Paramus
Mortgage Loans on Real Estate [Line Items]
Maturity date	Oct. 05, 2018
Retail Space \| Rego Park I
Mortgage Loans on Real Estate [Line Items]
Percentage of cash mortgage collateralized	100.00%
Refinance date	May 11, 2018
Repayment date	Jun. 06, 2018
Retail Space \| Rego Park II
Mortgage Loans on Real Estate [Line Items]
Maturity date	Nov. 30, 2018
Retail Space \| 731 Lexington Avenue
Mortgage Loans on Real Estate [Line Items]
Maturity date	Aug. 01, 2022

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value (Detail) - Recurring - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 30,421	$ 35,162
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	30,419	35,156
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	2	6
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	0	0
Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	30,419	35,156
Marketable securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	30,419	35,156
Marketable securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	0	0
Marketable securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	0	0
Interest rate cap (included in other assets)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	2	6
Interest rate cap (included in other assets) \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	0	0
Interest rate cap (included in other assets) \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	2	6
Interest rate cap (included in other assets) \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 0	$ 0

- Definition

Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method.

+ References + Details

Fair Value Measurements - Financial Assets and Liabilities Not Measured at Fair Value (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Carrying Amount
Assets:
Cash equivalents	$ 259,774	$ 273,914
Rego Park II loan participation	197,018	198,537
Assets	456,792	472,451
Liabilities:
Mortgages payable (excluding deferred debt issuance costs, net)	1,172,234	1,252,440
Fair Value
Assets:
Assets	456,774	471,914
Fair Value \| Level 1
Assets:
Cash equivalents	259,774	273,914
Fair Value \| Level 2
Assets:
Rego Park II loan participation	197,000	198,000
Liabilities:
Mortgages payable (excluding deferred debt issuance costs, net)	$ 1,162,000	$ 1,239,000

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2016 USD ($)	Feb. 28, 2014 fire	Jun. 30, 2018 USD ($) ft²	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($) ft²	Jun. 30, 2017 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2001 a
Loss Contingencies [Line Items]
Insurance maximum coverage per occurrence					$ 300,000,000
Insurance maximum coverage per property					300,000,000
Mortgages payable, net of deferred debt issuance costs			$ 1,162,632,000		1,162,632,000			$ 1,240,222,000
Annual property rental			38,618,000	$ 38,264,000	76,859,000	$ 76,537,000
Deferred leasing cost, net			43,234,000		43,234,000			$ 45,790,000
Standby letters of credit, outstanding			$ 1,040,000		$ 1,040,000
Rego Park I \| Sears
Loss Contingencies [Line Items]
Lease expiration date					2021-03
Number of fires \| fire		2
Area of property \| ft²			195,000		195,000
Annual property rental					$ 10,400,000
Straight line rent receivable			$ 3,271,000
Deferred leasing cost, net			$ 343,000		343,000
Rego Park I \| Sears \| Minimum
Loss Contingencies [Line Items]
Loss contingency, damages sought, value					$ 4,000,000
Paramus \| IKEA \| Tenant Occupant
Loss Contingencies [Line Items]
Area of land \| a									30.3
Fixed interest rate on the debt			2.90%		2.90%
Triple-net rent, annual amount					$ 700,000
Mortgages payable, net of deferred debt issuance costs			$ 68,000,000		$ 68,000,000
Debt instrument maturity date					Oct. 05, 2018
All Risk Property and Rental Value
Loss Contingencies [Line Items]
Insurance maximum coverage per occurrence					$ 1,700,000,000
Terrorism Coverage Including NBCR
Loss Contingencies [Line Items]
Insurance maximum coverage per occurrence					1,700,000,000
Insurance maximum coverage in aggregate					$ 1,700,000,000
NBCR
Loss Contingencies [Line Items]
Insurance coverage end date					Dec. 01, 2020
Self insured responsibility			18.00%		18.00%
Federal government responsibility			82.00%		82.00%
NBCR \| FNSIC
Loss Contingencies [Line Items]
Insurance deductible					$ 306,000
Forecast \| Paramus \| IKEA \| Tenant Occupant
Loss Contingencies [Line Items]
Lease purchase option amount							$ 75,000,000
Purchase option not exercised amount included in triple net rent over remainder of lease							68,000,000
Purchase option exercised, net cash proceeds from sale of land							7,000,000
Purchase option exercised, gain on sale of land							$ 60,000,000
Lease term range as Lessor							20 years
Loan amortization period							20 years
Estimated Future Damages \| Rego Park I \| Sears
Loss Contingencies [Line Items]
Loss contingency, damages sought, value	$ 650,000
Estimated Future Damages \| Rego Park I \| Sears \| Minimum
Loss Contingencies [Line Items]
Loss contingency, damages sought, value					25,000,000
Estimated Future Damages \| Rego Park I \| Sears \| Maximum
Loss Contingencies [Line Items]
Reasonably possible losses			$ 650,000		$ 650,000

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Income from continuing operations	$ 17,570	$ 20,660	$ 31,667	$ 42,327
Loss from discontinued operations (see Note 8)	0	0	(23,797)	0
Net income	$ 17,570	$ 20,660	$ 7,870	$ 42,327
Weighted average shares outstanding - basic and diluted	5,116,657	5,115,320	5,116,321	5,115,012
Income from continuing operations - basic and diluted (in usd per share)	$ 3.43	$ 4.04	$ 6.19	$ 8.28
Loss from discontinuing operations (see Note 8) - basic and diluted (in usd per share)	0.00	0.00	(4.65)	0.00
Net income per common share - basic and diluted (in usd per share)	$ 3.43	$ 4.04	$ 1.54	$ 8.28

- Definition

Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details