Reis 10-K 3 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 29, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	REIS
Entity Registrant Name	Reis, Inc.
Entity Central Index Key	1,038,222
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		11,308,826
Entity Public Float			$ 201,000,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 28,657,956	$ 17,745,077
Restricted cash and investments	212,268	212,625
Accounts receivable, net	13,741,169	12,627,063
Prepaid and other assets	670,339	369,820
Total current assets	43,281,732	30,954,585
Furniture, fixtures and equipment, net of accumulated depreciation of $2,449,985 and $2,158,647, respectively	804,427	850,866
Intangible assets, net of accumulated amortization of $38,738,292 and $33,589,746, respectively	15,686,954	14,681,410
Deferred tax asset, net	18,429,737	22,436,737
Goodwill	54,824,648	54,824,648
Other assets	171,728	139,797
Total assets	133,199,226	123,888,043
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	5,898,226	4,170,687
Deferred revenue	25,291,499	22,885,287
Liabilities attributable to discontinued operations	145,737	299,025
Total current liabilities	31,335,462	27,354,999
Other long-term liabilities	284,316	419,638
Total liabilities	$ 31,619,778	$ 27,774,637
Commitments and contingencies
Stockholders' equity:
Common stock, $0.02 par value per share, 101,000,000 shares authorized, 11,256,405 and 11,156,571 issued and outstanding, respectively	$ 225,128	$ 223,131
Additional paid in capital	107,102,433	105,605,803
Retained earnings (deficit)	(5,748,113)	(9,715,528)
Total stockholders' equity	101,579,448	96,113,406
Total liabilities and stockholders' equity	$ 133,199,226	$ 123,888,043

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Accumulated depreciation of furniture, fixtures and equipment	$ 2,449,985	$ 2,158,647
Accumulated amortization of intangible assets	$ 38,738,292	$ 33,589,746
Common stock, par value	$ 0.02	$ 0.02
Common stock, shares authorized	101,000,000	101,000,000
Common stock, shares issued	11,256,405	11,156,571
Common stock, shares outstanding	11,256,405	11,156,571

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Subscription revenue	$ 14,206,000	$ 12,137,000	$ 13,416,000	$ 11,131,000	$ 10,726,000	$ 10,469,000	$ 10,194,000	$ 9,946,000	$ 50,890,438	$ 41,335,155	$ 34,721,088
Cost of sales of subscription revenue									9,081,624	8,037,019	6,973,772
Gross profit									41,808,814	33,298,136	27,747,316
Operating expenses:
Sales and marketing									11,700,840	10,235,349	8,349,544
Product development									3,711,054	3,472,875	3,121,729
General and administrative expenses									14,267,027	12,040,343	11,909,462
Total operating expenses									29,678,921	25,748,567	23,380,735
Other income (expenses):
Interest and other income									37,857	22,016	9,981
Interest expense									(91,767)	(113,200)	(113,200)
Total other income (expenses)									(53,910)	(91,184)	(103,219)
Income (loss) before income taxes and discontinued operations									12,075,983	7,458,385	4,263,362
Income tax expense (benefit)									4,005,000	2,842,000	(13,670,069)
Income from continuing operations	2,342,000	1,508,000	2,928,000	1,293,000	1,524,000	1,130,000	915,000	1,047,000	8,070,983	4,616,385	17,933,431
Income (loss) from discontinued operations, net of income tax expense (benefit) of $1,409,000, $(382,000) and $(230,000), respectively									2,234,000	(569,263)	(336,489)
Net income	$ 3,372,000	$ 1,644,000	$ 4,067,000	$ 1,222,000	$ 1,476,000	$ 1,080,000	$ 822,000	$ 669,000	$ 10,304,983	$ 4,047,122	$ 17,596,942
Per share amounts - basic:
Income from continuing operations	$ 0.21	$ 0.13	$ 0.26	$ 0.12	$ 0.14	$ 0.10	$ 0.08	$ 0.10	$ 0.72	$ 0.42	$ 1.65
Net income	0.30	0.15	0.36	0.11	0.13	0.10	0.07	0.06	0.92	0.37	1.62
Per share amounts - diluted:
Income from continuing operations	0.20	0.13	0.25	0.11	0.12	0.10	0.08	0.09	0.69	0.39	1.57
Net income	$ 0.29	$ 0.14	$ 0.35	$ 0.10	$ 0.11	$ 0.09	$ 0.07	$ 0.06	$ 0.88	$ 0.34	$ 1.54
Weighted average number of common shares outstanding:
Basic	11,251,000	11,236,000	11,229,000	11,191,000	11,145,000	11,119,000	11,102,000	10,979,000	11,226,932	11,086,690	10,884,533
Diluted	11,744,000	11,721,000	11,690,000	11,693,000	11,688,000	11,653,000	11,531,000	11,463,000	11,706,495	11,593,079	11,396,559
Dividends declared per common share	$ 0.14	$ 0.14	$ 0.14	$ 0.14			$ 0.11		$ 0.56	$ 0.33

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Income tax expense (benefit) on discontinued operations	$ 1,409,000	$ (382,000)	$ (230,000)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Common Shares	Paid in Capital	Retained Earnings (Deficit)
Balance at Dec. 31, 2012	$ 74,556,620	$ 215,652	$ 102,002,972	$ (27,662,004)
Balance, shares at Dec. 31, 2012		10,782,643
Shares issued for vested employee restricted stock units		$ 2,499	(2,499)
Shares issued for vested employees restricted stock units, shares		124,936
Shares issued for option exercises	$ 46,437	$ 177	46,260
Shares issued for option exercises, shares	8,862	8,862
Stock based compensation, net	$ 670,960		670,960
Dividends	0
Net income	17,596,942			17,596,942
Balance at Dec. 31, 2013	$ 92,870,959	$ 218,328	102,717,693	(10,065,062)
Balance, shares at Dec. 31, 2013		10,916,441
Shares issued for vested employee restricted stock units		$ 2,894	(2,894)
Shares issued for vested employees restricted stock units, shares		144,660
Shares issued for settlement of vested director restricted stock units		$ 811	(811)
Shares issued for settlement of vested director restricted stock units, shares	40,564	40,564
Shares issued for option exercises	$ 428,750	$ 1,098	427,652
Shares issued for option exercises, shares	56,362	54,906
Stock based compensation, net	$ 2,464,163		2,464,163
Dividends	(3,697,588)			(3,697,588)
Net income	4,047,122			4,047,122
Balance at Dec. 31, 2014	96,113,406	$ 223,131	105,605,803	(9,715,528)
Balance, shares at Dec. 31, 2014		11,156,571
Shares issued for vested employee restricted stock units		$ 1,297	(1,297)
Shares issued for vested employees restricted stock units, shares		64,834
Shares issued for option exercises	$ 284,250	$ 700	283,550
Shares issued for option exercises, shares	35,000	35,000
Stock based compensation, net	$ 1,303,708		1,303,708
Registration statement costs	(89,331)		(89,331)
Dividends	(6,337,568)			(6,337,568)
Net income	10,304,983			10,304,983
Balance at Dec. 31, 2015	$ 101,579,448	$ 225,128	$ 107,102,433	$ (5,748,113)
Balance, shares at Dec. 31, 2015		11,256,405

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 10,304,983	$ 4,047,122	$ 17,596,942
Adjustments to reconcile to net cash provided by operating activities:
Deferred tax provision (benefit)	4,449,000	2,113,783	(13,900,069)
Depreciation	429,498	382,829	332,576
Amortization of intangible assets	5,148,546	4,828,452	4,696,939
Stock based compensation charges	1,772,679	1,702,163	1,859,336
Changes in assets and liabilities:
Restricted cash and investments	357	4,077	(577)
Accounts receivable, net	(1,114,106)	(1,240,479)	(692,383)
Prepaid and other assets	(332,450)	40,320	95,149
Accrued expenses and other liabilities	1,170,929	446,044	(681,666)
Liability for option cancellations		(136,563)	81,707
Deferred revenue	2,406,212	2,601,109	2,053,846
Net cash provided by operating activities	24,235,648	14,788,857	11,441,800
CASH FLOWS FROM INVESTING ACTIVITIES:
Website and database development costs	(5,804,090)	(3,822,745)	(4,051,460)
Furniture, fixtures and equipment additions	(383,059)	(380,318)	(447,463)
Cash (used in) investing activities	(6,187,149)	(4,203,063)	(4,498,923)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends	(6,337,568)	(3,697,588)
Registration statement costs	(89,331)
Payments for option cancellations and restricted stock units	(992,971)	(131,778)	(1,390,265)
Proceeds from option exercises	284,250	428,750	46,437
Net cash (used in) financing activities	(7,135,620)	(3,400,616)	(1,343,828)
Net increase in cash and cash equivalents	10,912,879	7,185,178	5,599,049
Cash and cash equivalents, beginning of year	17,745,077	10,559,899	4,960,850
Cash and cash equivalents, end of year	28,657,956	17,745,077	10,559,899
SUPPLEMENTAL INFORMATION:
Cash paid during the year for interest	25,347	25,347	24,236
Cash paid during the year for income taxes, net of refunds	651,502	229,982	723,228
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Accrual for website and database development costs	350,000
Disposal of fully depreciated furniture, fixtures and equipment	138,160	130,115	254,842
Disposal of fully depreciated website costs		2,895
Shares issued for vested employee restricted stock units	$ 1,297	2,894	$ 2,499
Shares issued for settlement of vested director restricted stock units		811
Exercise of stock options through the receipt of tendered shares		$ 36,246

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	1. Organization and Business Reis, Inc. is a Maryland corporation. When we refer to “Reis” or the “Company,” we are referring to Reis, Inc. and its consolidated subsidiaries. The Company provides commercial real estate market information and analytical tools to real estate professionals, through its Reis Services subsidiary. For disclosure and financial reporting purposes, this business is referred to as the Reis Services segment. Reis Services Reis Services, including its predecessors, was founded in 1980. Reis maintains a proprietary database containing detailed information on commercial properties in metropolitan markets and neighborhoods throughout the U.S. The database contains information on apartment, office, retail, warehouse/distribution, flex/research & development, self storage, seniors housing and student housing properties, and is used by real estate investors, lenders and other professionals to make informed buying, selling and financing decisions. In addition, Reis data is used by debt and equity investors to assess, quantify and manage the risks of default and loss associated with individual mortgages, properties, portfolios and real estate backed securities. Reis currently provides its information services to many of the nation’s leading lending institutions, equity investors, brokers and appraisers. The Company’s product portfolio features: Reis SE ReisReports Mobiuss Portfolio CRE, Mobiuss, Discontinued Operations – Residential Development Activities Prior to May 2007, the name of the Company was Wellsford Real Properties, Inc. (“Wellsford”). Wellsford, which was originally formed on January 8, 1997, acquired the Reis Services business by merger in May 2007 (the “Merger”). Wellsford’s primary operating activities immediately prior to the Merger, and conducted through its subsidiaries, were the development, construction and sale of three residential projects and its approximate 23% ownership interest in the Reis Services business. The Company completed the sale of the remaining residential units and homes at its projects or divested of the remaining residential projects in bulk sales by April 2011. In 2012, the Company settled construction defect litigation at its Colorado project and in 2015, finalized its efforts to recover funds from other responsible parties involved in the design, development, construction and supervision of the Colorado project as more fully described in Note 3 and Note 10.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned and controlled subsidiaries. Investments in entities where the Company does not have a controlling interest are accounted for under the equity method of accounting. These investments were initially recorded at cost and were subsequently adjusted for the Company’s proportionate share of the investment’s income (loss) and additional contributions or distributions. All inter-company accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation. Codification and the Hierarchy of Generally Accepted Accounting Principles Effective July 1, 2009, the Company adopted the provisions of the Financial Accounting Standards Board (“FASB”) guidance related to the Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles (“GAAP”). This guidance identifies the sources of accepted accounting principles and the framework for selecting the principles used in the preparation of financial statements of nongovernmental entities that are presented in conformity with GAAP in the United States (the GAAP hierarchy). The Codification superseded all then-existing non-SEC accounting and reporting standards upon the effective date. The adoption of this standard changed how the Company references various elements of GAAP when preparing its financial statement disclosures, but has had no impact on the Company’s consolidated financial statements. Discontinued Operations In April 2011, the Company determined that all operational and litigation related activities associated with the prior ownership and development of residential real estate, including certain general and administrative costs that supported that segment’s operations, should be presented as a discontinued operation. As a result of this determination and the fact that these operations and cash flows can be clearly distinguished, the operating results of the discontinued segment and related general and administrative costs are aggregated for separate presentation apart from continuing operating results of the Company in the consolidated financial statements for all periods presented. Variable Interests The Company evaluates its investments and subsidiaries to determine if an entity is a voting interest entity or a variable interest entity (“VIE”). The Company performs this analysis on an ongoing basis, or as circumstances change. The Company does not have any VIEs in the years ended December 31, 2015, 2014 and 2013. Cash and Cash Equivalents The Company considers all demand and money market accounts and short term investments in government funds with a maturity of three months or less at the date of purchase to be cash and cash equivalents. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivables are recorded at invoiced amounts and do not bear interest. The allowance for doubtful accounts reflects the Company’s assessment of collectability of outstanding receivables after consideration of the age of a receivable, customer payment history and other current events or economic factors that could affect a customer’s ability to make payments. Furniture, Fixtures and Equipment The Company capitalizes costs for the purchase of furniture, fixtures and equipment that have an expected useful life beyond one year. Depreciation expense is calculated on a straight-line basis over the determined useful life of the asset, generally three to ten years. Depreciation expense was approximately $429,000, $383,000 and $333,000 for the years ended December 31, 2015, 2014 and 2013, respectively. Intangible Assets, Amortization and Impairment Website Development Costs The Company expenses all internet website costs incurred during the preliminary project stage. Thereafter, all direct external and internal development and implementation costs are capitalized and amortized using the straight-line method over their remaining estimated useful lives, not exceeding three years. The value ascribed to the website intangible asset acquired at the time of the Merger was amortized on a straight-line basis over three years, and during 2010, this ascribed value was fully amortized. Amortization of all capitalized website development costs is charged to product development expense. Database Costs The Company capitalizes costs for the development of its database in connection with the identification and addition of new real estate properties and sale transactions which provide a future economic benefit. Amortization is calculated on a straight-line basis over a three or five year period. Costs of updating and maintaining information on existing properties in the database are expensed as incurred. The value ascribed to the database intangible asset acquired at the time of the Merger was amortized on a straight-line basis over three or five years. The ascribed value having a three and five year amortizable life was fully amortized in 2010 and 2012, respectively. Amortization of all capitalized database costs is charged to cost of sales. Customer Relationships The value ascribed to customer relationships acquired at the time of the Merger is amortized over 15 years on an accelerated basis and is charged to sales and marketing expense. Lease Value The value ascribed to the below market terms of the office lease existing at the time of the Merger is amortized over the remaining term of the acquired office lease which was approximately nine years. Amortization is charged to general and administrative expenses. Goodwill and Intangible Asset Impairment Goodwill and a major portion of the other intangible assets were recorded at the time of the Merger. As a result of the tax treatment of the Merger, goodwill and the acquired intangible assets are not deductible for income tax purposes. Goodwill is not amortized and is tested for impairment at least annually, or after a triggering event has occurred, requiring such a calculation. A qualitative assessment can be utilized to determine if a more detailed two step calculation is required. If the qualitative assessment results in a determination that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill, then no further evaluation would be necessary. If, after performing the qualitative assessment, the Company determined that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill, then the first step of the two step test would be necessary. The first step is a comparison of the estimated fair value of the reporting unit to which the goodwill has been assigned with the reporting unit’s carrying value. The fair values used in this evaluation would be estimates based upon market projections for the reporting unit. These market projections would utilize a number of estimates and assumptions, such as earnings before interest, taxes, depreciation and amortization (EBITDA) multiples, market comparisons, and quoted market prices. If the fair value of the reporting unit were to exceed its carrying value, goodwill would not be deemed to be impaired. If the fair value of the reporting unit is less than its carrying value, a second step would be required to calculate the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets of the reporting unit from the fair value of the reporting unit. The Company utilized the qualitative assessment for its 2015, 2014 and 2013 evaluations. There was no goodwill impairment identified in 2015, 2014 or 2013. Intangible assets, with determinable useful lives, are amortized over their respective estimated useful lives using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise used. In addition, the carrying amount of amortizable intangible assets are reviewed when indicators of impairment are present. If estimated future undiscounted net cash flows are less than the carrying amount of the asset, the asset would be considered impaired. An impairment charge would be determined by comparing the estimated fair value of the intangible asset to its carrying value, with any shortfall from fair value recognized as an expense in the current period. There was no intangible asset impairment identified in 2015, 2014 or 2013. Deferred Financing Costs Deferred financing costs consist of costs incurred to obtain financing or financing commitments. Such costs are amortized by the Company over the expected term of the respective agreements. Fair Value Measurements The current accounting literature provides for a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: • Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; • Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and • Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement. During the years ended December 31, 2015, 2014 and 2013, the Company had no assets or liabilities valued using the valuation hierarchy. Revenue Recognition and Related Items The Company’s subscription revenue is derived principally from subscriptions to its web-based services for its Reis SE Mobiuss Reis SE Mobiuss Mobiuss Reis SE ReisReports Cost of sales of subscription revenue principally consists of salaries and related expenses for the Company’s researchers who collect and analyze the commercial real estate data that is the basis for the Company’s information services. Additionally, cost of sales includes the amortization of the database intangible asset. Interest revenue is recorded on an accrual basis. Share Based Compensation Equity Awards The fair market value as of the grant date of awards of stock, restricted stock units or certain stock options is recognized as compensation expense by the Company over the respective vesting periods. Liability Awards In prior years, the Company accrued a liability for cash payments that could be made to option holders for the amount of the market value of the Company’s common stock in excess of the exercise prices of outstanding options accounted for as a liability award. This liability was adjusted at the end of each reporting period to reflect: (1) the net cash payments to option holders made during each period; (2) the impact of the exercise and expiration of options; and (3) the changes in the market price of the Company’s common stock. Changes in the settlement value of option awards treated under the liability method were reflected as an increase to, or a reduction of, general and administrative expense in the consolidated statements of operations. At December 31, 2015 and 2014, there were no options outstanding for which a liability was required as the remaining liability award options were either exercised or settled with a net cash payment in 2014 or prior years. There was no liability for option cancellations at December 31, 2015 and 2014. See Note 9 for activity with respect to stock options and restricted stock units. Income Taxes Deferred income tax assets and liabilities are determined based upon differences between the financial reporting basis and the tax basis of assets and liabilities, and are measured using the enacted tax rates and laws that are estimated to be in effect when the differences are expected to reverse. Valuation allowances with respect to deferred income tax assets are recorded when deemed appropriate and adjusted based upon periodic evaluations. The Company evaluates its tax positions in accordance with applicable current accounting literature. Recognition of uncertain tax positions (step one) occurs when an enterprise concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination. Measurement (step two) determines the amount of benefit that more likely than not will be realized upon settlement. Derecognition of a tax position that was previously recognized would occur when a company subsequently determines that a tax position no longer meets the more likely than not threshold of being sustained, statutes close or there is a satisfactory resolution of the tax position. See Note 7 for more information regarding income taxes. Per Share Data Basic earnings per common share is computed based upon the weighted average number of common shares outstanding during the period. Diluted earnings per common share is based upon the increased number of common shares that would be outstanding assuming the exercise of dilutive common share options and the consideration of restricted stock awards. The following table details the computation of earnings per common share, basic and diluted: For the Years Ended December 31, 2015 2014 2013 Numerator for basic per share calculation: Income from continuing operations for basic calculation $ 8,070,983 $ 4,616,385 $ 17,933,431 Income (loss) from discontinued operations, net of income tax (benefit) 2,234,000 (569,263) (336,489) Net income for basic calculation $ 10,304,983 $ 4,047,122 $ 17,596,942 Numerator for diluted per share calculation: Income from continuing operations $ 8,070,983 $ 4,616,385 $ 17,933,431 Adjustments to income from continuing operations for the statement of operations impact of dilutive securities — (136,563) — Income from continuing operations for dilution calculation 8,070,983 4,479,822 17,933,431 Income (loss) from discontinued operations, net of income tax expense (benefit) 2,234,000 (569,263) (336,489) Net income for dilution calculation $ 10,304,983 $ 3,910,559 $ 17,596,942 Denominator: Weighted average common shares – basic 11,226,932 11,086,690 10,884,533 Effect of dilutive securities: RSUs 142,949 169,813 242,396 Stock options 336,614 336,576 269,630 Weighted average common shares – diluted 11,706,495 11,593,079 11,396,559 Per common share amounts – basic: Income from continuing operations $ 0.72 $ 0.42 $ 1.65 Income (loss) from discontinued operations 0.20 (0.05) (0.03) Net income $ 0.92 $ 0.37 $ 1.62 Per common share amounts – diluted: Income from continuing operations $ 0.69 $ 0.39 $ 1.57 Income (loss) from discontinued operations 0.19 (0.05) (0.03) Net income $ 0.88 $ 0.34 $ 1.54 Potentially dilutive securities include all stock based awards. For the years ended December 31, 2015 and 2014, certain equity awards were antidilutive. For the year ended December 31, 2013, the option awards accounted for under the liability method were antidilutive. Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. From time to time, the Company has been, is or may in the future be a defendant in various legal actions arising in the normal course of business. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. The outcome of any litigation is uncertain; it is possible that a judgment in any legal actions to which the Company is a party, or which are proposed or threatened, will have a material adverse effect on the consolidated financial statements. See Note 10. New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued ASU 2014-15 , Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810), Amendments to the Consolidation Analysis In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU 2016-02, Leases . Reclassification Amounts in certain accounts, as presented in the consolidated balance sheet, the condensed balance sheet data in Note 3 and certain paragraphs in Note 7, have been reclassified to conform to the current period presentation.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Information	3. Segment Information The Company is organized into separately managed segments as follows: the Reis Services segment, the discontinued operations segment and other. The following tables present condensed balance sheet and operating data for these segments: (amounts in thousands) Condensed Balance Sheet Data December 31, 2015 Reis Services Discontinued Operations (A) Other (B) Consolidated Assets Current assets: Cash and cash equivalents $ 28,465 $ — $ 193 $ 28,658 Restricted cash and investments 212 — — 212 Accounts receivable, net 13,741 — — 13,741 Prepaid and other assets 417 60 193 670 Total current assets 42,835 60 386 43,281 Furniture, fixtures and equipment, net 798 — 6 804 Intangible assets, net 15,687 — — 15,687 Deferred tax asset, net 285 — 18,145 18,430 Goodwill 57,203 — (2,378) 54,825 Other assets 172 — — 172 Total assets $ 116,980 $ 60 $ 16,159 $ 133,199 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — $ — Accrued expenses and other liabilities 4,502 — 1,397 5,899 Deferred revenue 25,291 — — 25,291 Liabilities attributable to discontinued operations — 120 26 146 Total current liabilities 29,793 120 1,423 31,336 Other long-term liabilities 284 — — 284 Deferred tax liability, net 29,498 — (29,498) — Total liabilities 59,575 120 (28,075) 31,620 Total stockholders’ equity 57,405 (60) 44,234 101,579 Total liabilities and stockholders’ equity $ 116,980 $ 60 $ 16,159 $ 133,199 Condensed Balance Sheet Data December 31, 2014 Reis Services Discontinued Other (B) Consolidated Assets Current assets: Cash and cash equivalents $ 17,562 $ — $ 183 $ 17,745 Restricted cash and investments 213 — — 213 Accounts receivable, net 12,627 — — 12,627 Prepaid and other assets 213 — 156 369 Total current assets 30,615 — 339 30,954 Furniture, fixtures and equipment, net 836 — 15 851 Intangible assets, net 14,681 — — 14,681 Deferred tax asset, net 285 — 22,152 22,437 Goodwill 57,203 — (2,378) 54,825 Other assets 140 — — 140 Total assets $ 103,760 $ — $ 20,128 $ 123,888 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — $ — Accrued expenses and other liabilities 3,157 — 1,014 4,171 Deferred revenue 22,885 — — 22,885 Liabilities attributable to discontinued operations — 271 28 299 Total current liabilities 26,042 271 1,042 27,355 Other long-term liabilities 420 — — 420 Deferred tax liability, net 23,108 — (23,108) — Total liabilities 49,570 271 (22,066) 27,775 Total stockholders’ equity 54,190 (271) 42,194 96,113 Total liabilities and stockholders’ equity $ 103,760 $ — $ 20,128 $ 123,888 (A) Includes the assets and liabilities of the Company’s discontinued operations, to the extent that such assets and liabilities existed at the date presented. (B) Includes cash, other assets and liabilities not specifically attributable to or allocable to a specific operating segment. (amounts in thousands) Condensed Operating Data for the Year Ended December 31, 2015 Reis Services Discontinued Other (B) Consolidated Subscription revenue $ 50,890 $ — $ — $ 50,890 Cost of sales of subscription revenue 9,081 — — 9,081 Gross profit 41,809 — — 41,809 Operating expenses: Sales and marketing 11,701 — — 11,701 Product development 3,711 — — 3,711 General and administrative expenses 9,892 — 4,375 14,267 Total operating expenses 25,304 — 4,375 29,679 Other income (expenses): Interest and other income 38 — — 38 Interest expense (92) — — (92) Total other income (expenses) (54) — — (54) Income (loss) before income taxes and discontinued operations $ 16,451 $ — $ (4,375) $ 12,076 Income (loss) from discontinued operations, before income taxes $ — $ (8) $ 3,651 $ 3,643 Condensed Operating Data for the Year Ended December 31, 2014 Reis Services Discontinued Other (B) Consolidated Subscription revenue $ 41,335 $ — $ — $ 41,335 Cost of sales of subscription revenue 8,037 — — 8,037 Gross profit 33,298 — — 33,298 Operating expenses: Sales and marketing 10,235 — — 10,235 Product development 3,473 — — 3,473 General and administrative expenses 7,940 — 4,101 12,041 Total operating expenses 21,648 — 4,101 25,749 Other income (expenses): Interest and other income 22 — — 22 Interest expense (113) — — (113) Total other income (expenses) (91) — — (91) Income (loss) before income taxes and discontinued operations $ 11,559 $ — $ (4,101) $ 7,458 (Loss) from discontinued operations, before income taxes $ — $ (31) $ (920) $ (951) (A) Includes the results of the Company’s discontinued operations to the extent that such operations existed during the periods presented. (B) Includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the operating segments. (amounts in thousands) Condensed Operating Data for the Year Ended December 31, 2013 Reis Services Discontinued Other (B) Consolidated Subscription revenue $ 34,721 $ — $ — $ 34,721 Cost of sales of subscription revenue 6,974 — — 6,974 Gross profit 27,747 — — 27,747 Operating expenses: Sales and marketing 8,350 — — 8,350 Product development 3,122 — — 3,122 General and administrative expenses 6,989 — 4,920 11,909 Total operating expenses 18,461 — 4,920 23,381 Other income (expenses): Interest and other income 10 — — 10 Interest expense (113) — — (113) Total other income (expenses) (103) — — (103) Income (loss) before income taxes and discontinued operations $ 9,183 $ — $ (4,920) $ 4,263 (Loss) from discontinued operations, before income taxes $ — $ (9) $ (557) $ (566) (A) Includes the results of the Company’s discontinued operations to the extent that such operations existed during the periods presented. (B) Includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the operating segments. Reis Services See Note 1 for a description of Reis Services’s business and products at December 31, 2015. The Company’s largest individual subscriber accounted for 10.6%, 2.9% and 3.4% of Reis Services’s revenue for the years ended December 31, 2015, 2014 and 2013, respectively. The following table presents the accounts receivable balances of Reis Services at December 31, 2015 and 2014: December 31, 2015 2014 Accounts receivable $ 13,828,000 $ 12,679,000 Allowance for doubtful accounts (87,000) (52,000) Accounts receivable, net $ 13,741,000 $ 12,627,000 Twenty-three subscribers accounted for an aggregate of approximately 63.9% of Reis Services’s accounts receivable at December 31, 2015, including four subscribers in excess of 4.0% and the largest representing 17.4%. Through February 18, 2016, the Company received payments of approximately $10,753,000 or 77.8% against the December 31, 2015 accounts receivable balance. Thirty-one subscribers accounted for an aggregate of approximately 65.0% of Reis Services’s accounts receivable at December 31, 2014, including four subscribers in excess of 4.0% and the largest representing 9.4%. At December 31, 2015 and 2014, the largest individual subscriber accounted for 6.8% and 5.2% respectively, of deferred revenue. Discontinued Operations – Residential Development Activities Income (loss) from discontinued operations is comprised of the following: For the Years Ended December 31, 2015 2014 2013 Litigation recoveries $ 4,839,000 $ 26,000 $ 80,000 Other (expenses), net (1,196,000) (977,000) (646,000) Income (loss) from discontinued operations before income tax 3,643,000 (951,000) (566,000) Income tax expense (benefit) from discontinued operations 1,409,000 (382,000) (230,000) Income (loss) from discontinued operations, net of income tax expense (benefit) $ 2,234,000 $ (569,000) $ (336,000) In September 2009, the Company sold the final unit at Gold Peak, the final phase of Palomino Park, a five phase multifamily residential development in Highlands Ranch, Colorado. Gold Peak was a 259-unit condominium project on the remaining 29 acre land parcel at Palomino Park. On March 13, 2012, in connection with litigation regarding construction defects at the Gold Peak project, a jury rendered its verdict whereby Reis, one of its subsidiaries (Gold Peak at Palomino Park LLC, the developer of the project (“GP LLC”)), and the construction manager/general contractor for the project (Tri-Star Construction West, LLC (“Tri-Star”)) were found jointly and severally liable for an aggregate of $18,200,000, plus other costs of approximately $756,000. On June 20, 2012, following denial of all of the defendants’ post-trial motions, Reis and its subsidiaries reached a settlement with the plaintiff, the Gold Peak Homeowners Association, (“GP HOA”) providing for a total payment of $17,000,000. Of this amount, $5,000,000 was paid on August 3, 2012 and the remaining $12,000,000 was paid on October 15, 2012, in accordance with the settlement terms. As of December 31, 2015, the Company entered into the final settlement agreement related to its Gold Peak recovery efforts, bringing closure to this process. In summary, recovery efforts from the fourth quarter of 2012 through December 31, 2015 have resulted in cash collections aggregating approximately $5,658,000. During the years ended December 31, 2015, 2014 and 2013, the Company had litigation recoveries of $4,839,000, $26,000 and $80,000, respectively, from multiple insurance carriers, trial attorneys, an insurance broker and other responsible parties involved in the design, development, construction and supervision of the Gold Peak project. Other expenses primarily reflect legal and other professional costs incurred related to the Gold Peak litigation recovery efforts. For additional information pertaining to the Gold Peak litigation and recovery efforts, see Note 10.

Restricted Cash and Investments

Restricted Cash and Investments	12 Months Ended
	Dec. 31, 2015
Cash and Cash Equivalents [Abstract]
Restricted Cash and Investments	4. Restricted Cash and Investments Restricted cash and investments represents a security deposit for the 530 Fifth Avenue corporate office space. The Company provided the lessor a bank-issued letter of credit, which is fully collateralized by a certificate of deposit issued by that bank. The restricted cash balance was approximately $212,000 and $213,000 at December 31, 2015 and 2014, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets The amount of identified intangible assets, including the respective amounts of accumulated amortization, are as follows: December 31, 2015 2014 Database $ 22,790,000 $ 19,435,000 Accumulated amortization (17,121,000) (15,018,000) Database, net 5,669,000 4,417,000 Customer relationships 14,100,000 14,100,000 Accumulated amortization (8,328,000) (7,379,000) Customer relationships, net 5,772,000 6,721,000 Website 14,735,000 11,936,000 Accumulated amortization (10,669,000) (8,876,000) Website, net 4,066,000 3,060,000 Acquired below market lease 2,800,000 2,800,000 Accumulated amortization (2,620,000) (2,317,000) Acquired below market lease, net 180,000 483,000 Intangibles, net $ 15,687,000 $ 14,681,000 The Company capitalized approximately $3,355,000 and $2,286,000 to the database intangible asset and $2,799,000 and $1,537,000 to the website intangible asset during the years ended December 31, 2015 and 2014, respectively. In September 2015, the Company entered into an agreement to purchase the intellectual property owned by a third party for the Mobiuss Amortization expense for intangible assets aggregated approximately $5,148,000 for the year ended December 31, 2015, of which approximately $2,103,000 related to the database, which is charged to cost of sales, approximately $949,000 related to customer relationships, which is charged to sales and marketing expense, approximately $1,793,000 related to website development, which is charged to product development expense, and approximately $303,000 related to the value ascribed to the below market terms of the office lease, which is charged to general and administrative expense, all in the Reis Services segment. Amortization expense for intangible assets aggregated approximately $4,829,000 for the year ended December 31, 2014, of which approximately $1,780,000 related to the database, approximately $962,000 related to customer relationships, approximately $1,784,000 related to website development, and approximately $303,000 related to the value ascribed to the below market terms of the office lease. Amortization expense for intangible assets aggregated approximately $4,697,000 for the year ended December 31, 2013, of which approximately $1,547,000 related to the database, approximately $973,000 related to customer relationships, approximately $1,875,000 related to website development, and approximately $302,000 related to the value ascribed to the below market terms of the office lease, all in the Reis Services segment. The Company’s future amortization expense related to the net intangible asset balance at December 31, 2015 follows: For the Year Ended December 31, Amount 2016 $ 5,106,000 2017 3,942,000 2018 2,687,000 2019 1,489,000 2020 1,114,000 Thereafter 1,349,000 Total $ 15,687,000

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	6. Debt The Company had no debt outstanding at December 31, 2015 and 2014. In October 2012, Reis Services, as borrower, and the Company, as guarantor, entered into a loan and security agreement with Capital One, National Association, as lender (“Capital One”), for a $10,000,000 revolving credit facility (the “2012 Revolver”). The 2012 Revolver had a three year term scheduled to expire on October 16, 2015; however, the expiration date was extended to January 31, 2016. On January 28, 2016, Reis Services and Capital One executed an amended and restated loan and security agreement for a $20,000,000 revolving credit facility with terms substantially similar to the 2012 Revolver (the “2016 Revolver,” and collectively with the 2012 Revolver, the “Revolver”). The 2016 Revolver expires on January 28, 2019. Any borrowings on the Revolver bear interest at a rate of LIBOR + 2.00% per annum (for LIBOR loans) or the greater of 1.00% or the bank’s prime rate minus 0.50% per annum (for base rate loans). Capital One charges an unused facility fee of 0.25% per annum. The Revolver is secured by a security interest in substantially all of the tangible and intangible assets of Reis Services, all copyrights of the Company and a pledge by the Company of its membership interests in Reis Services. The Revolver also contains customary affirmative and negative covenants, including minimum financial covenants, as defined in the amended and restated revolving loan credit agreement; all of the covenants were met at December 31, 2015 and 2014. No borrowings were made during the years ended December 31, 2015, 2014 or 2013.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The components of income tax expense (benefit) are as follows: For the Years Ended December 31, 2015 2014 2013 Current Federal alternative minimum tax (“AMT”) expense $ 303,000 $ 92,000 $ 42,000 Current state and local tax expense 662,000 254,000 132,000 Deferred Federal tax expense (benefit) (A) 4,962,000 2,118,000 (12,775,000) Deferred state and local tax expense (benefit) (513,000) (4,000) (1,299,000) Consolidated income tax expense (benefit), including taxes attributable to discontinued operations (B) 5,414,000 2,460,000 (13,900,000) Less income tax expense (benefit) attributable to discontinued operations 1,409,000 (382,000) (230,000) Income tax expense (benefit) (C) $ 4,005,000 $ 2,842,000 $ (13,670,000) (A) Includes an AMT (benefit) of $(303,000), $(92,000) and $(1,181,000) in 2015, 2014 and 2013, respectively. (B) Includes income tax expense (benefit) attributable to (loss) from discontinued operations. (C) Reflects the tax expense (benefit) from continuing operations as reported on the consolidated statements of operations for the periods presented. The reconciliation of income tax computed at the U.S. Federal statutory rate to income tax expense (benefit) on continuing operations is as follows: For the Years Ended December 31, 2015 2014 2013 Amount Percent Amount Percent Amount Percent Tax expense (benefit) at U.S. statutory rate $ 4,227,000 35.00% $ 2,610,000 35.00% $ 1,492,000 35.00% State and local tax expense (benefit), net of Federal impact 494,000 4.09% 194,000 2.60% 86,000 2.01% Impact of state and local tax rate change net of Federal impact (714,000) (5.90%) 27,000 0.36% 110,000 2.58% Cost (benefit) attributable to valuation allowance, net — — — — (150,000) (3.52%) Non-deductible items (2,000) (0.02%) 11,000 0.15% 9,000 0.21% Benefit attributable to reduction in allowance against certain deferred tax assets — — — — (15,217,000) (356.94%) Income tax expense (benefit) $ 4,005,000 33.17% $ 2,842,000 38.11% $ (13,670,000) (320.66%) During 2013, the Company recorded an aggregate deferred Federal, state and local income tax benefit of $15,217,000 from the release of the valuation allowance against certain deferred tax assets. In the fourth quarter of 2013, the Company reversed the valuation allowance recorded against a portion of its NOL carryforwards in 2012, and the remaining balance of the valuation allowance against NOL and AMT credit carryforwards in 2013. The decision to reduce the valuation allowance in 2013 was made after management determined, based on an assessment of continuing operations, profitability and forecasts of future taxable income, that these deferred tax assets would be realized in the future. Separately, during the fourth quarter of 2013, the Company reevaluated the availability of state operating loss carryforwards and modified the future effective state and local tax rate. As a result, the future tax benefit was reduced by approximately $346,000 during the year ended December 31, 2013. During March 2014, New York State enacted a law to (1) reduce corporate tax rates, effective in future years and (2) change the method of determining the availability and use of NOLs existing at December 31, 2014. In April 2015, New York City enacted a law which substantially conforms with the New York State changes. As a consequence, the Company evaluated all elements affecting the balance of its net deferred tax assets in the respective periods, including the availability of New York State and New York City NOL carryforwards. The changes in the New York State law were reflected in the first quarter of 2014 income tax expense and the changes in the New York City law were reflected in the second quarter of 2015 income tax expense. Given the change in the New York City law, there was a variation between the effective tax rate and the statutory tax rate for the year ended December 31, 2015. Due to the amount of its NOL and credit carryforwards, the Company does not anticipate paying Federal income taxes for a number of years. The Company expects, in the future, that it will be subject to cash payments for Federal AMT and for a portion of its state and local income taxes as the changed New York State and New York City laws limit the amount of existing NOLs which could be used each year. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The net deferred tax asset was approximately $18,430,000 and $22,437,000 at December 31, 2015 and 2014, respectively, all of which is classified as non-current in accordance with ASU 2015-17. The significant portion of the deferred tax items relates to deferred tax assets including NOL carryforwards, Federal AMT credit carryforwards and stock based compensation, with the remainder of the deferred tax items relating to liabilities resulting from the intangible assets recorded at the time of the Merger. Significant components of the Company’s deferred tax assets and liabilities are as follows: December 31, 2015 2014 Deferred Tax Assets Net operating loss carryforwards $ 17,314,368 $ 22,113,983 Asset basis differences — tax amount greater than book value 254,773 259,922 Liability reserves 187,253 212,142 Stock compensation plans 1,644,339 1,520,041 AMT credit carryforwards 1,576,737 1,273,792 Other 45,903 21,585 21,023,373 25,401,465 Valuation allowance — — Total deferred tax assets 21,023,373 25,401,465 Deferred Tax Liabilities Acquired asset differences — book value greater than tax (2,266,160) (2,669,655) Asset basis differences — carrying amount value greater than tax (327,476) (295,073) Total deferred tax liabilities (2,593,636) (2,964,728) Net deferred tax asset (liability) $ 18,429,737 $ 22,436,737 The Company had Federal NOL carryforwards aggregating approximately $46,018,000 at December 31, 2015, as well as significant state and local NOL carryforwards. These NOLs included amounts generated subsequent to the Merger (including a substantial NOL realized during the year ended December 31, 2012 as a result of the Gold Peak litigation settlement, discussed in Note 10), losses from the Reis Services business prior to the Merger and the Company’s operating losses prior to the Merger. Approximately $13,300,000 of these Federal NOLs are subject to an annual Internal Revenue Code Section 382 limitation of $2,779,000, whereas the remaining balance of approximately $32,718,000 is not subject to the limitation. The enactment of the 2014 New York State law and the 2015 New York City law discussed above limit the amount of existing NOLs which could be used each year in those jurisdictions; however, all such losses are expected to be fully utilized in the future. The next NOL expiration for the Company is in 2024 for approximately $10,672,000 of Federal NOLs. Included in the Federal NOLs at December 31, 2015 is approximately $1,723,000 attributable to excess tax deductions on equity award activity in prior years. The tax benefits attributable to those NOLs will be credited directly to additional paid in capital when utilized to offset taxes payable. A valuation allowance is required to reduce deferred tax assets if, based on the weight of all available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. As a result of management’s evaluation of the Company’s future operations, it has been determined that no valuation allowance was necessary at December 31, 2015, 2014 or 2013. The Company and its subsidiaries have been audited by the Internal Revenue Service (“IRS”) for the 2012 tax year, which audit was completed in February 2015 with the IRS issuing a no change letter. The 2013 and 2014 Federal tax returns are open for examination. All prior Federal periods are closed, except to the extent that an NOL was generated in a given year. Tax returns for 1997 and 1998 are open for the NOLs generated during those years from an acquired business at that time. The Reis Services business prior to the Merger, was audited by the IRS for tax years ending October 31, 2005 and 2006. In addition, tax returns are open from 2000 to 2002 and 2007, to the extent that NOLs were generated during these periods by the Reis Services business prior to the Merger. During the third quarter of 2015, audits of the Company and its consolidated subsidiaries for tax years 2004 through 2006 were completed by New York State resulting in net payments aggregating approximately $16,000 in the period to New York State and New York City. Such amounts had been accrued in prior periods. Tax returns for the Company and a subsidiary are open for the years 2007 to 2014 for New York State and New York City. The tax years for a subsidiary operating in Colorado are open from 2011 to 2014. The Company’s reserve for unrecognized tax benefits, including estimated interest, was $159,000 and $105,000 at December 31, 2015 and 2014, respectively. The unrecognized tax benefits as well as related interest was included in general and administrative expenses. The Company recorded additional general and administrative expense, including interest, of $70,000, $43,000 and $51,000 in 2015, 2014, and 2013, respectively. A reconciliation of the unrecognized tax benefits for the years ended December 31, 2015, 2014 and 2013 follows: For the Years Ended December 31, 2015 2014 2013 Balance at beginning of period $ 105,000 $ 62,000 $ 345,000 Additional provisions and interest related to prior years 70,000 43,000 51,000 Resolution of matters during the period (16,000) — (334,000) Balance at end of period $ 159,000 $ 105,000 $ 62,000 The Company expects that a substantial portion of the 2015 balance could be resolved in 2016.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Stockholders' Equity	8. Stockholders’ Equity During the years ended December 31, 2015, 2014 and 2013, the Company did not repurchase any shares of common stock. The Company commenced a quarterly dividend program in the second quarter of 2014 when it declared and paid an initial quarterly cash dividend of $0.11 per common share. The Company increased the dividends declared and paid to $0.14 per common share for all four quarters of 2015. Dividends paid by the Company during 2015 and 2014 aggregated approximately $6,338,000 and $3,698,000, respectively. The Company did not declare or distribute any dividends during the year ended December 31, 2013.

Stock Plans and Other Incentive

Stock Plans and Other Incentives	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Plans and Other Incentives	9. Stock Plans and Other Incentives The Company has adopted certain incentive plans for the purpose of attracting and retaining the Company’s directors, officers and employees by having the ability to issue options, restricted stock units (“RSUs”), or stock awards. Awards granted under the Company’s incentive plans expire ten years from the date of grant and vest over periods ranging generally from three to five years for employees. Option Awards The following table presents option activity and other plan data for the years ended December 31, 2015, 2014 and 2013: For the Years Ended December 31, 2015 2014 2013 Options Weighted- Exercise Price Options Weighted- Exercise Price Options Weighted- Exercise Price Outstanding at beginning of period 582,500 $ 9.52 627,724 $ 9.05 645,448 $ 8.94 Granted — $ — 20,000 $ 18.52 — $ — Exercised (35,000) $ (8.12) (56,362) $ (8.25) (8,862) $ (5.24) Cancelled through cash settlement — $ — (8,862) $ (4.09) (8,862) $ (5.24) Forfeited/cancelled/expired — $ — — $ — — $ — Outstanding at end of period 547,500 $ 9.61 582,500 $ 9.52 627,724 $ 9.05 Options exercisable at end of period 531,500 $ 9.35 562,500 $ 9.21 627,724 $ 9.05 Options exercisable which can be settled in cash — $ — — $ — 17,724 $ 4.09 Weighted average fair value of options granted per year (per option) $ — $ 7.64 $ — Weighted average remaining contractual life at end of period 3.0 years 3.9 years 4.5 years Certain outstanding options had allowed the option holder to receive from the Company, in cancellation of the holder’s option, a cash payment with respect to each cancelled option equal to the amount, if any, by which the fair market value of the share of stock underlying the option exceeds the exercise price of such option. The Company accounted for these options as liability awards. Changes in the settlement value of option awards treated under the liability method were reflected as an increase to, or a reduction of, expense in the consolidated statements of operations. At December 31, 2015 and 2014, there were no options outstanding for which a liability was required as the remaining liability award options were either exercised or settled with a net cash payment in 2013 and 2014. The Company recorded a compensation benefit of approximately $137,000 for the year ended December 31, 2014 and compensation expense of approximately $82,000 for the year ended December 31, 2013, in general and administrative expenses in the consolidated statements of operations related to the respective changes in the amount of the liability for option cancellations. There was no compensation expense (benefit) related to the liability for option cancellations for the year ended December 31, 2015. In each of the years ended December 31, 2014 and 2013, a total of 8,862 options were settled with net cash payments aggregating approximately $132,000 and $110,000, respectively. In May 2014, the Company granted 20,000 options to one employee. These options, which are accounted for as an equity award, vest ratably over a five-year period and have an exercise price of $18.52 per option, based upon the closing price of the Company’s common stock on the date of grant. For expense purposes, the Company estimated the fair value of each option granted on the date of grant using the Black-Scholes option-pricing model at $7.64 per option. The following table includes the assumptions that were made and the estimated fair value for option grants in 2014 (no option awards were granted during either 2015 or 2013): 2014 Grant Stock price on grant date $ 18.52 Exercise price $ 18.52 Dividend yield 2.38% Risk-free interest rate 2.20% Expected life 8.0 years Estimated volatility 47.8% Fair value of options granted (per option) $ 7.64 The following table presents additional option details at December 31, 2015 and 2014: Options Outstanding and Exercisable at December 31, 2015 Options Outstanding and Exercisable at December 31, 2014 Range of Exercise Prices Outstanding Remaining Contractual Weighted Exercise Price Intrinsic Outstanding Remaining Contractual Weighted Exercise Price Intrinsic $ 7.50 20,000 1.6 $ 7.50 $ 324,600 47,500 2.6 $ 7.50 $ 886,825 $ 8.03 225,000 4.6 $ 8.03 3,533,625 225,000 5.6 $ 8.03 4,082,625 $ 10.40 282,500 1.4 $ 10.40 3,765,725 290,000 2.4 $ 10.40 4,573,300 $ 18.52 20,000 8.4 $ 18.52 104,200 20,000 9.4 $ 18.52 153,000 547,500 3.0 $ 9.61 $ 7,728,150 582,500 3.9 $ 9.52 $ 9,695,750 (A) The intrinsic value is the amount by which the fair value of the Company’s stock price exceeds the exercise price of an option at December 31, 2015 and 2014, respectively. For purposes of this calculation, the Company’s closing stock prices were $23.73 and $26.17 per share on December 31, 2015 and 2014, respectively. Dividends are not paid or accrued on unexercised options. RSU Awards The following table presents the changes in RSUs outstanding for the years ended December 31, 2015, 2014 and 2013: For the Years Ended December 31, 2015 2014 2013 Outstanding at beginning of period 277,973 365,686 469,848 Granted 83,141 105,132 103,176 Common stock delivered (A) (B) (C) (105,970) (185,224) (205,075) Forfeited (1,103) (7,621) (2,263) Outstanding at end of period 254,041 277,973 365,686 Intrinsic value (D) $ 6,028,000 $ 7,275,000 $ 7,032,000 (A) The 2015 period includes 41,136 shares which were used to settle minimum employee withholding tax obligations for 28 employees of approximately $993,000 in 2015. A net of 64,834 shares of common stock were delivered in 2015. (B) In the 2014 period, all of the vested RSUs were issued as shares. (C) The 2013 period includes 80,139 shares which were used to settle minimum employee withholding tax obligations for 16 employees of approximately $1,280,000 in 2013. A net of 124,936 shares of common stock were delivered in 2013. (D) For purposes of this calculation, the Company’s closing stock prices were $23.73, $26.17 and $19.23 per share on December 31, 2015, 2014 and 2013, respectively. In the first quarter of 2015, an aggregate of 77,405 RSUs were granted to employees, which RSUs vest one-third a year over three years and had an average grant date fair value of $22.41 per RSU. In February 2014, an aggregate of 91,431 RSUs were granted to employees, which RSUs vest one-third a year over three years and had a grant date fair value of $18.13 per RSU. In December 2014, an aggregate of 6,900 RSUs were granted, which RSUs vest upon the third anniversary of the grant date and had a grant date fair value of $20.43 per RSU. In February 2013, an aggregate of 91,356 RSUs were granted to employees, which RSUs vest one-third a year over three years and had a grant date fair value of $16.20 per RSU. The grant date fair value was determined based on the closing stock price of the Company’s common stock on the applicable date of grant and considers the impact of dividend payments. The awards granted to employees in 2015, 2014 and 2013 are treated as equity awards and the grant date fair value is charged to compensation expense at the corporate level on a straight-line basis over the vesting periods. Dividends are not paid or accrued on unvested employee RSUs. During the years ended December 31, 2015, 2014 and 2013, an aggregate of 5,736 RSUs, 6,801 RSUs and 11,820 RSUs, respectively, were granted to non-employee directors (with an average grant date fair value of $24.03, $20.28 and $15.56 per RSU, respectively) related to the equity component of their compensation. In each case, the grant date fair value was determined as of the last trading day of the quarter for which the RSUs were being received as compensation. The RSUs are immediately vested, but are not deliverable to the non-employee directors until six months after termination of their service as a director. Dividends are paid on RSUs granted to non-employee directors. The Company issued 40,564 shares in 2014, to satisfy the settlement of RSUs related to directors that retired from the Board six months prior. Option and RSU Expense Information The Company recorded non-cash compensation expense of approximately $1,773,000, $1,702,000 and $1,859,000, respectively, including approximately $138,000, $138,000 and $173,000 related to non-employee director equity compensation, for the years ended December 31, 2015, 2014 and 2013, respectively, related to all stock options and RSUs accounted for as equity awards, as a component of general and administrative expenses in the statements of operations. At December 31, 2015, the total compensation cost related to outstanding, non-vested equity awards of options and RSUs that is expected to be recognized as compensation cost in the future aggregates approximately $2,028,000. It does not include any awards granted subsequent to December 31, 2015. For the Year Ended December 31, Options RSUs Total 2016 $ 31,000 $ 1,225,000 $ 1,256,000 2017 31,000 652,000 683,000 2018 31,000 47,000 78,000 2019 11,000 — 11,000 $ 104,000 $ 1,924,000 $ 2,028,000

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Litigation From time to time, the Company has been, is or may in the future be a defendant in various legal actions arising in the normal course of business. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. Reis and certain subsidiaries have purchased insurance with respect to construction defect and completed operations at its past real estate development projects. Reis and certain subsidiaries have, from time to time, been exposed to various claims associated with the development, construction and sale of condominium units, single family homes or lots. Claims related to dissatisfaction by homeowners and homeowners associations with the construction of condominiums, homes and amenities by the Company and/or the Company’s developer partners in any condominium or subdivision development, or other matters, may result in litigation costs, remediation costs, warranty expenses or settlement costs which could be material to the Company’s reportable discontinued operating income (loss), or its consolidated financial position or cash flows. It would not have any effect on the Company’s income from continuing operations. Reis, Inc. and two of its subsidiaries (GP LLC and Wellsford Park Highlands Corp. (“WPHC”) (collectively, including Reis, Inc., the “Reis Defendants”)) were the subject of a suit brought by the GP HOA at the Company’s former 259-unit Gold Peak condominium project outside of Denver, Colorado. This suit was filed in District Court in Douglas County, Colorado on October 19, 2010, seeking monetary damages (not quantified at the time) relating to design and construction defects at the Gold Peak project. Tri-Star, the construction manager/general contractor for the project (not affiliated with the Company) and two former senior officers of the Company (Jeffrey H. Lynford, who was also previously a director of the Company, and David M. Strong) were also named as defendants in the suit. In October 2011, experts for the GP HOA delivered a report alleging a cost to repair of approximately $19,000,000. Trial commenced on February 21, 2012 and a jury rendered its verdict on March 13, 2012 finding Reis and GP LLC jointly and severally liable for an aggregate of $18,200,000, plus other costs of approximately $756,000. The jury also found Tri-Star liable as the construction manager/general contractor of the project. On June 20, 2012, following denial of all of the defendants’ post-trial motions, Reis, GP LLC and WPHC reached a settlement with the GP HOA, providing for a total payment of $17,000,000. Of this amount, $5,000,000 was paid on August 3, 2012 and the remaining $12,000,000 was paid on October 15, 2012, in accordance with the settlement terms. In reaching the decision to settle, the Company’s management and Board considered, among other factors: (1) the amount of the settlement versus the potential for an ultimately greater judgment after appeal, including additional costs and post-judgment interest; (2) the benefits of the clarity of settling the case at this time versus continuing uncertainty; and (3) the strong cash flow generation of Reis Services’s core business. In connection with the development of Gold Peak, the Company purchased a commercial general liability “WRAP” insurance policy from a predecessor of ACE Westchester (“ACE”) covering the Company (including its subsidiaries) and its former officers, Tri-Star and Tri-Star’s subcontractors. The Company took the position that a total of $9,000,000 (and possibly $12,000,000) of coverage was available for the GP HOA’s claims. ACE took the position that only $3,000,000 of coverage (including defense costs) was provided. The Company filed suit against ACE in District Court in Douglas County, Colorado on January 18, 2012, to cover the GP HOA’s claims, bad faith and other related causes of action. In particular, the Company took the position that the GP HOA’s claims could have been settled for $12,000,000 or less prior to the trial. On November 20, 2014, the Colorado District Court determined that the WRAP policy provided $3,000,000 of coverage and this amount had been eroded by defense costs. Additionally, the Company made claims against other additional insurance companies under policies maintained by the Company, including the Company’s directors’ and officers’ insurance policy, and against the Company’s former insurance broker. On November 20, 2014, the Colorado District Court determined that the directors’ and officers’ insurance policy had no obligation to the Company for the asserted claims. Separately, on November 20, 2014, a motion for summary judgment by the insurance broker was denied by the Colorado District Court. The Company also brought separate claims against Tri-Star, the Tri-Star subcontractors, the architect and a third party inspector relating to those parties’ actions on the Gold Peak project. In April 2015, default judgments were entered in the Company’s favor against two subcontractors aggregating approximately $1,218,000; however, the Company believes receipt of such amounts is remote as those entities appear either to be bankrupt or have no assets to satisfy the judgments. There is no financial statement impact related to these default judgments. In June 2015, the Company entered into settlement agreements with ACE, Tri-Star, certain of the Tri-Star subcontractors and the architect. As a result, a previously scheduled trial for October 2015 was vacated. In July 2015, the Company entered into a settlement agreement with the former insurance broker. As a result, a previously scheduled trial for July 2015 was vacated. In September 2015, after consideration of a possible appeal of the November 20, 2014 Colorado District Court’s ruling, the Company entered into a settlement agreement with the insurance company related to the directors’ and officers’ insurance policy. The Company entered into a tolling agreement with the law firm that represented the Reis Defendants in the trial with the GP HOA in September 2013. The tolling agreement postponed the running of the limitation period for the claims by the Company against the law firm related to the GP HOA trial. In November 2015, the Company entered into a settlement agreement with the law firm that represented the Reis Defendants in the GP HOA trial. In December 2015, after the consideration of risks and costs associated with a pending arbitration proceeding, the Company entered into a settlement agreement with the third party inspector. As of December 31, 2015, the Company entered into the final settlement agreement related to its Gold Peak recovery efforts, bringing closure to this process. In summary, recovery efforts from the fourth quarter of 2012 through December 31, 2015 have resulted in cash collections aggregating approximately $5,658,000. During the years ended December 31, 2015, 2014 and 2013, the Company had litigation recoveries of approximately $4,839,000, $26,000 and $80,000, respectively, from multiple insurance carriers, trial attorneys, an insurance broker and other responsible parties involved in the design, development, construction and supervision of the Gold Peak project. Such amounts are included in income (loss) from discontinued operations on the consolidated statements of operations. The Company is not a party to any other litigation that could reasonably be foreseen to be material to the Company. Other Operating Commitments At December 31, 2015, the Company is a tenant under three operating leases, two of which are for office space in Midtown Manhattan, New York, both of which expire in September 2016, and a third for office space in White Plains, New York, which expires in June 2023. Rent expense was approximately $2,207,000, $2,082,000 and $1,893,000 for the years ended December 31, 2015, 2014 and 2013, respectively, which includes base rent plus other charges including, but not limited to, real estate taxes and maintenance costs in excess of base year amounts. In connection with one lease, the Company provided a letter of credit through a bank, to the lessor. The letter of credit requirement is approximately $212,000 which is collateralized by a certificate of deposit issued by that bank. The certificate of deposit is included in restricted cash and investments in the consolidated balance sheets at December 31, 2015 and 2014 (see Note 4). Future minimum lease payments under operating leases at December 31, 2015 are as follows: For the Year Ended December 31, Amount 2016 $ 1,680,000 2017 926,000 2018 1,069,000 2019 1,092,000 2020 1,107,000 Thereafter 2,780,000 Total $ 8,654,000 The Company has a defined contribution savings plans pursuant to Section 401 of the Internal Revenue Code. The Company matches contributions up to 2% of employees’ salaries, as then defined, for 2015, 2014 and 2013 (calculated as 50% of the employee’s contribution, capped at 4% of the employee’s salary). The Company made contributions to this plan of approximately $259,000, $231,000 and $203,000 for the years ended December 31, 2015, 2014 and 2013, respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	11. Fair Value of Financial Instruments At December 31, 2015 and 2014, the Company’s financial instruments included receivables, payables, accrued expenses, other liabilities and debt. The fair values of these financial instruments were not materially different from their recorded values at December 31, 2015 and 2014. The Company had no debt outstanding at December 31, 2015 and 2014. See Note 6 for additional information about the Company’s debt.

Summarized Consolidated Quarter

Summarized Consolidated Quarterly Information	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Summarized Consolidated Quarterly Information	12. Summarized Consolidated Quarterly Information (Unaudited) Summarized consolidated and condensed quarterly financial information is as follows: (amounts in thousands, except per share amounts) 2015 For the Three Months For the Three Months For the Three Months For the Three Months Subscription revenue $ 11,131 $ 13,416 $ 12,137 $ 14,206 Income from continuing operations $ 1,293 $ 2,928 $ 1,508 $ 2,342 Net income $ 1,222 $ 4,067 $ 1,644 $ 3,372 Per share amounts – basic (A): Income from continuing operations $ 0.12 $ 0.26 $ 0.13 $ 0.21 Net income $ 0.11 $ 0.36 $ 0.15 $ 0.30 Per share amounts – diluted (A): Income from continuing operations $ 0.11 $ 0.25 $ 0.13 $ 0.20 Net income $ 0.10 $ 0.35 $ 0.14 $ 0.29 Weighted average number of common shares outstanding: Basic 11,191 11,229 11,236 11,251 Diluted 11,693 11,690 11,721 11,744 2014 For the Three Months For the Three Months For the Three Months For the Three Months Subscription revenue $ 9,946 $ 10,194 $ 10,469 $ 10,726 Income from continuing operations $ 1,047 $ 915 $ 1,130 $ 1,524 Net income $ 669 $ 822 $ 1,080 $ 1,476 Per share amounts – basic (A): Income from continuing operations $ 0.10 $ 0.08 $ 0.10 $ 0.14 Net income $ 0.06 $ 0.07 $ 0.10 $ 0.13 Per share amounts – diluted (A): Income from continuing operations $ 0.09 $ 0.08 $ 0.10 $ 0.12 Net income $ 0.06 $ 0.07 $ 0.09 $ 0.11 Weighted average number of common shares outstanding: Basic 10,979 11,102 11,119 11,145 Diluted 11,463 11,531 11,653 11,688 (A) Aggregate quarterly per share amounts may not equal annual or period to date amounts presented elsewhere in these consolidated financial statements due to rounding differences.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned and controlled subsidiaries. Investments in entities where the Company does not have a controlling interest are accounted for under the equity method of accounting. These investments were initially recorded at cost and were subsequently adjusted for the Company’s proportionate share of the investment’s income (loss) and additional contributions or distributions. All inter-company accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation.
Codification and Hierarchy of Generally Accepted Accounting Principles	Codification and the Hierarchy of Generally Accepted Accounting Principles Effective July 1, 2009, the Company adopted the provisions of the Financial Accounting Standards Board (“FASB”) guidance related to the Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles (“GAAP”). This guidance identifies the sources of accepted accounting principles and the framework for selecting the principles used in the preparation of financial statements of nongovernmental entities that are presented in conformity with GAAP in the United States (the GAAP hierarchy). The Codification superseded all then-existing non-SEC accounting and reporting standards upon the effective date. The adoption of this standard changed how the Company references various elements of GAAP when preparing its financial statement disclosures, but has had no impact on the Company’s consolidated financial statements.
Discontinued Operations	Discontinued Operations In April 2011, the Company determined that all operational and litigation related activities associated with the prior ownership and development of residential real estate, including certain general and administrative costs that supported that segment’s operations, should be presented as a discontinued operation. As a result of this determination and the fact that these operations and cash flows can be clearly distinguished, the operating results of the discontinued segment and related general and administrative costs are aggregated for separate presentation apart from continuing operating results of the Company in the consolidated financial statements for all periods presented.
Variable Interests	Variable Interests The Company evaluates its investments and subsidiaries to determine if an entity is a voting interest entity or a variable interest entity (“VIE”). The Company performs this analysis on an ongoing basis, or as circumstances change. The Company does not have any VIEs in the years ended December 31, 2015, 2014 and 2013.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all demand and money market accounts and short term investments in government funds with a maturity of three months or less at the date of purchase to be cash and cash equivalents.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivables are recorded at invoiced amounts and do not bear interest. The allowance for doubtful accounts reflects the Company’s assessment of collectability of outstanding receivables after consideration of the age of a receivable, customer payment history and other current events or economic factors that could affect a customer’s ability to make payments.
Furniture, Fixtures and Equipment	Furniture, Fixtures and Equipment The Company capitalizes costs for the purchase of furniture, fixtures and equipment that have an expected useful life beyond one year. Depreciation expense is calculated on a straight-line basis over the determined useful life of the asset, generally three to ten years. Depreciation expense was approximately $429,000, $383,000 and $333,000 for the years ended December 31, 2015, 2014 and 2013, respectively.
Intangible Assets, Amortization and Impairment	Intangible Assets, Amortization and Impairment Website Development Costs The Company expenses all internet website costs incurred during the preliminary project stage. Thereafter, all direct external and internal development and implementation costs are capitalized and amortized using the straight-line method over their remaining estimated useful lives, not exceeding three years. The value ascribed to the website intangible asset acquired at the time of the Merger was amortized on a straight-line basis over three years, and during 2010, this ascribed value was fully amortized. Amortization of all capitalized website development costs is charged to product development expense. Database Costs The Company capitalizes costs for the development of its database in connection with the identification and addition of new real estate properties and sale transactions which provide a future economic benefit. Amortization is calculated on a straight-line basis over a three or five year period. Costs of updating and maintaining information on existing properties in the database are expensed as incurred. The value ascribed to the database intangible asset acquired at the time of the Merger was amortized on a straight-line basis over three or five years. The ascribed value having a three and five year amortizable life was fully amortized in 2010 and 2012, respectively. Amortization of all capitalized database costs is charged to cost of sales. Customer Relationships The value ascribed to customer relationships acquired at the time of the Merger is amortized over 15 years on an accelerated basis and is charged to sales and marketing expense. Lease Value The value ascribed to the below market terms of the office lease existing at the time of the Merger is amortized over the remaining term of the acquired office lease which was approximately nine years. Amortization is charged to general and administrative expenses. Goodwill and Intangible Asset Impairment Goodwill and a major portion of the other intangible assets were recorded at the time of the Merger. As a result of the tax treatment of the Merger, goodwill and the acquired intangible assets are not deductible for income tax purposes. Goodwill is not amortized and is tested for impairment at least annually, or after a triggering event has occurred, requiring such a calculation. A qualitative assessment can be utilized to determine if a more detailed two step calculation is required. If the qualitative assessment results in a determination that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill, then no further evaluation would be necessary. If, after performing the qualitative assessment, the Company determined that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill, then the first step of the two step test would be necessary. The first step is a comparison of the estimated fair value of the reporting unit to which the goodwill has been assigned with the reporting unit’s carrying value. The fair values used in this evaluation would be estimates based upon market projections for the reporting unit. These market projections would utilize a number of estimates and assumptions, such as earnings before interest, taxes, depreciation and amortization (EBITDA) multiples, market comparisons, and quoted market prices. If the fair value of the reporting unit were to exceed its carrying value, goodwill would not be deemed to be impaired. If the fair value of the reporting unit is less than its carrying value, a second step would be required to calculate the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets of the reporting unit from the fair value of the reporting unit. The Company utilized the qualitative assessment for its 2015, 2014 and 2013 evaluations. There was no goodwill impairment identified in 2015, 2014 or 2013. Intangible assets, with determinable useful lives, are amortized over their respective estimated useful lives using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise used. In addition, the carrying amount of amortizable intangible assets are reviewed when indicators of impairment are present. If estimated future undiscounted net cash flows are less than the carrying amount of the asset, the asset would be considered impaired. An impairment charge would be determined by comparing the estimated fair value of the intangible asset to its carrying value, with any shortfall from fair value recognized as an expense in the current period. There was no intangible asset impairment identified in 2015, 2014 or 2013.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs consist of costs incurred to obtain financing or financing commitments. Such costs are amortized by the Company over the expected term of the respective agreements.
Fair Value Measurements	Fair Value Measurements The current accounting literature provides for a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: • Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; • Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and • Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement. During the years ended December 31, 2015, 2014 and 2013, the Company had no assets or liabilities valued using the valuation hierarchy.
Revenue Recognition and Related Items	Revenue Recognition and Related Items The Company’s subscription revenue is derived principally from subscriptions to its web-based services for its Reis SE Mobiuss Reis SE Mobiuss Mobiuss Reis SE ReisReports Cost of sales of subscription revenue principally consists of salaries and related expenses for the Company’s researchers who collect and analyze the commercial real estate data that is the basis for the Company’s information services. Additionally, cost of sales includes the amortization of the database intangible asset. Interest revenue is recorded on an accrual basis.
Share Based Compensation	Share Based Compensation Equity Awards The fair market value as of the grant date of awards of stock, restricted stock units or certain stock options is recognized as compensation expense by the Company over the respective vesting periods. Liability Awards In prior years, the Company accrued a liability for cash payments that could be made to option holders for the amount of the market value of the Company’s common stock in excess of the exercise prices of outstanding options accounted for as a liability award. This liability was adjusted at the end of each reporting period to reflect: (1) the net cash payments to option holders made during each period; (2) the impact of the exercise and expiration of options; and (3) the changes in the market price of the Company’s common stock. Changes in the settlement value of option awards treated under the liability method were reflected as an increase to, or a reduction of, general and administrative expense in the consolidated statements of operations. At December 31, 2015 and 2014, there were no options outstanding for which a liability was required as the remaining liability award options were either exercised or settled with a net cash payment in 2014 or prior years. There was no liability for option cancellations at December 31, 2015 and 2014. See Note 9 for activity with respect to stock options and restricted stock units.
Income Taxes	Income Taxes Deferred income tax assets and liabilities are determined based upon differences between the financial reporting basis and the tax basis of assets and liabilities, and are measured using the enacted tax rates and laws that are estimated to be in effect when the differences are expected to reverse. Valuation allowances with respect to deferred income tax assets are recorded when deemed appropriate and adjusted based upon periodic evaluations. The Company evaluates its tax positions in accordance with applicable current accounting literature. Recognition of uncertain tax positions (step one) occurs when an enterprise concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination. Measurement (step two) determines the amount of benefit that more likely than not will be realized upon settlement. Derecognition of a tax position that was previously recognized would occur when a company subsequently determines that a tax position no longer meets the more likely than not threshold of being sustained, statutes close or there is a satisfactory resolution of the tax position. See Note 7 for more information regarding income taxes.
Per Share Data	Per Share Data Basic earnings per common share is computed based upon the weighted average number of common shares outstanding during the period. Diluted earnings per common share is based upon the increased number of common shares that would be outstanding assuming the exercise of dilutive common share options and the consideration of restricted stock awards. The following table details the computation of earnings per common share, basic and diluted: For the Years Ended December 31, 2015 2014 2013 Numerator for basic per share calculation: Income from continuing operations for basic calculation $ 8,070,983 $ 4,616,385 $ 17,933,431 Income (loss) from discontinued operations, net of income tax (benefit) 2,234,000 (569,263) (336,489) Net income for basic calculation $ 10,304,983 $ 4,047,122 $ 17,596,942 Numerator for diluted per share calculation: Income from continuing operations $ 8,070,983 $ 4,616,385 $ 17,933,431 Adjustments to income from continuing operations for the statement of operations impact of dilutive securities — (136,563) — Income from continuing operations for dilution calculation 8,070,983 4,479,822 17,933,431 Income (loss) from discontinued operations, net of income tax expense (benefit) 2,234,000 (569,263) (336,489) Net income for dilution calculation $ 10,304,983 $ 3,910,559 $ 17,596,942 Denominator: Weighted average common shares – basic 11,226,932 11,086,690 10,884,533 Effect of dilutive securities: RSUs 142,949 169,813 242,396 Stock options 336,614 336,576 269,630 Weighted average common shares – diluted 11,706,495 11,593,079 11,396,559 Per common share amounts – basic: Income from continuing operations $ 0.72 $ 0.42 $ 1.65 Income (loss) from discontinued operations 0.20 (0.05) (0.03) Net income $ 0.92 $ 0.37 $ 1.62 Per common share amounts – diluted: Income from continuing operations $ 0.69 $ 0.39 $ 1.57 Income (loss) from discontinued operations 0.19 (0.05) (0.03) Net income $ 0.88 $ 0.34 $ 1.54 Potentially dilutive securities include all stock based awards. For the years ended December 31, 2015 and 2014, certain equity awards were antidilutive. For the year ended December 31, 2013, the option awards accounted for under the liability method were antidilutive.
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. From time to time, the Company has been, is or may in the future be a defendant in various legal actions arising in the normal course of business. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. The outcome of any litigation is uncertain; it is possible that a judgment in any legal actions to which the Company is a party, or which are proposed or threatened, will have a material adverse effect on the consolidated financial statements. See Note 10.
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued ASU 2014-15 , Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810), Amendments to the Consolidation Analysis In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU 2016-02, Leases .
Reclassification	Reclassification Amounts in certain accounts, as presented in the consolidated balance sheet, the condensed balance sheet data in Note 3 and certain paragraphs in Note 7, have been reclassified to conform to the current period presentation.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Details of Computation of Earnings per Common Share, Basic and Diluted	The following table details the computation of earnings per common share, basic and diluted: For the Years Ended December 31, 2015 2014 2013 Numerator for basic per share calculation: Income from continuing operations for basic calculation $ 8,070,983 $ 4,616,385 $ 17,933,431 Income (loss) from discontinued operations, net of income tax (benefit) 2,234,000 (569,263) (336,489) Net income for basic calculation $ 10,304,983 $ 4,047,122 $ 17,596,942 Numerator for diluted per share calculation: Income from continuing operations $ 8,070,983 $ 4,616,385 $ 17,933,431 Adjustments to income from continuing operations for the statement of operations impact of dilutive securities — (136,563) — Income from continuing operations for dilution calculation 8,070,983 4,479,822 17,933,431 Income (loss) from discontinued operations, net of income tax expense (benefit) 2,234,000 (569,263) (336,489) Net income for dilution calculation $ 10,304,983 $ 3,910,559 $ 17,596,942 Denominator: Weighted average common shares – basic 11,226,932 11,086,690 10,884,533 Effect of dilutive securities: RSUs 142,949 169,813 242,396 Stock options 336,614 336,576 269,630 Weighted average common shares – diluted 11,706,495 11,593,079 11,396,559 Per common share amounts – basic: Income from continuing operations $ 0.72 $ 0.42 $ 1.65 Income (loss) from discontinued operations 0.20 (0.05) (0.03) Net income $ 0.92 $ 0.37 $ 1.62 Per common share amounts – diluted: Income from continuing operations $ 0.69 $ 0.39 $ 1.57 Income (loss) from discontinued operations 0.19 (0.05) (0.03) Net income $ 0.88 $ 0.34 $ 1.54

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Condensed Balance Sheet and Operating Data for Segments	The following tables present condensed balance sheet and operating data for these segments: (amounts in thousands) Condensed Balance Sheet Data December 31, 2015 Reis Services Discontinued Operations (A) Other (B) Consolidated Assets Current assets: Cash and cash equivalents $ 28,465 $ — $ 193 $ 28,658 Restricted cash and investments 212 — — 212 Accounts receivable, net 13,741 — — 13,741 Prepaid and other assets 417 60 193 670 Total current assets 42,835 60 386 43,281 Furniture, fixtures and equipment, net 798 — 6 804 Intangible assets, net 15,687 — — 15,687 Deferred tax asset, net 285 — 18,145 18,430 Goodwill 57,203 — (2,378) 54,825 Other assets 172 — — 172 Total assets $ 116,980 $ 60 $ 16,159 $ 133,199 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — $ — Accrued expenses and other liabilities 4,502 — 1,397 5,899 Deferred revenue 25,291 — — 25,291 Liabilities attributable to discontinued operations — 120 26 146 Total current liabilities 29,793 120 1,423 31,336 Other long-term liabilities 284 — — 284 Deferred tax liability, net 29,498 — (29,498) — Total liabilities 59,575 120 (28,075) 31,620 Total stockholders’ equity 57,405 (60) 44,234 101,579 Total liabilities and stockholders’ equity $ 116,980 $ 60 $ 16,159 $ 133,199 Condensed Balance Sheet Data December 31, 2014 Reis Services Discontinued Other (B) Consolidated Assets Current assets: Cash and cash equivalents $ 17,562 $ — $ 183 $ 17,745 Restricted cash and investments 213 — — 213 Accounts receivable, net 12,627 — — 12,627 Prepaid and other assets 213 — 156 369 Total current assets 30,615 — 339 30,954 Furniture, fixtures and equipment, net 836 — 15 851 Intangible assets, net 14,681 — — 14,681 Deferred tax asset, net 285 — 22,152 22,437 Goodwill 57,203 — (2,378) 54,825 Other assets 140 — — 140 Total assets $ 103,760 $ — $ 20,128 $ 123,888 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — $ — Accrued expenses and other liabilities 3,157 — 1,014 4,171 Deferred revenue 22,885 — — 22,885 Liabilities attributable to discontinued operations — 271 28 299 Total current liabilities 26,042 271 1,042 27,355 Other long-term liabilities 420 — — 420 Deferred tax liability, net 23,108 — (23,108) — Total liabilities 49,570 271 (22,066) 27,775 Total stockholders’ equity 54,190 (271) 42,194 96,113 Total liabilities and stockholders’ equity $ 103,760 $ — $ 20,128 $ 123,888 (A) Includes the assets and liabilities of the Company’s discontinued operations, to the extent that such assets and liabilities existed at the date presented. (B) Includes cash, other assets and liabilities not specifically attributable to or allocable to a specific operating segment. (amounts in thousands) Condensed Operating Data for the Year Ended December 31, 2015 Reis Services Discontinued Other (B) Consolidated Subscription revenue $ 50,890 $ — $ — $ 50,890 Cost of sales of subscription revenue 9,081 — — 9,081 Gross profit 41,809 — — 41,809 Operating expenses: Sales and marketing 11,701 — — 11,701 Product development 3,711 — — 3,711 General and administrative expenses 9,892 — 4,375 14,267 Total operating expenses 25,304 — 4,375 29,679 Other income (expenses): Interest and other income 38 — — 38 Interest expense (92) — — (92) Total other income (expenses) (54) — — (54) Income (loss) before income taxes and discontinued operations $ 16,451 $ — $ (4,375) $ 12,076 Income (loss) from discontinued operations, before income taxes $ — $ (8) $ 3,651 $ 3,643 Condensed Operating Data for the Year Ended December 31, 2014 Reis Services Discontinued Other (B) Consolidated Subscription revenue $ 41,335 $ — $ — $ 41,335 Cost of sales of subscription revenue 8,037 — — 8,037 Gross profit 33,298 — — 33,298 Operating expenses: Sales and marketing 10,235 — — 10,235 Product development 3,473 — — 3,473 General and administrative expenses 7,940 — 4,101 12,041 Total operating expenses 21,648 — 4,101 25,749 Other income (expenses): Interest and other income 22 — — 22 Interest expense (113) — — (113) Total other income (expenses) (91) — — (91) Income (loss) before income taxes and discontinued operations $ 11,559 $ — $ (4,101) $ 7,458 (Loss) from discontinued operations, before income taxes $ — $ (31) $ (920) $ (951) (A) Includes the results of the Company’s discontinued operations to the extent that such operations existed during the periods presented. (B) Includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the operating segments. (amounts in thousands) Condensed Operating Data for the Year Ended December 31, 2013 Reis Services Discontinued Other (B) Consolidated Subscription revenue $ 34,721 $ — $ — $ 34,721 Cost of sales of subscription revenue 6,974 — — 6,974 Gross profit 27,747 — — 27,747 Operating expenses: Sales and marketing 8,350 — — 8,350 Product development 3,122 — — 3,122 General and administrative expenses 6,989 — 4,920 11,909 Total operating expenses 18,461 — 4,920 23,381 Other income (expenses): Interest and other income 10 — — 10 Interest expense (113) — — (113) Total other income (expenses) (103) — — (103) Income (loss) before income taxes and discontinued operations $ 9,183 $ — $ (4,920) $ 4,263 (Loss) from discontinued operations, before income taxes $ — $ (9) $ (557) $ (566) (A) Includes the results of the Company’s discontinued operations to the extent that such operations existed during the periods presented. (B) Includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the operating segments.
Accounts Receivable Balances of Reis Services	The following table presents the accounts receivable balances of Reis Services at December 31, 2015 and 2014: December 31, 2015 2014 Accounts receivable $ 13,828,000 $ 12,679,000 Allowance for doubtful accounts (87,000) (52,000) Accounts receivable, net $ 13,741,000 $ 12,627,000
Income (Loss) from Discontinued Operations	Income (loss) from discontinued operations is comprised of the following: For the Years Ended December 31, 2015 2014 2013 Litigation recoveries $ 4,839,000 $ 26,000 $ 80,000 Other (expenses), net (1,196,000) (977,000) (646,000) Income (loss) from discontinued operations before income tax 3,643,000 (951,000) (566,000) Income tax expense (benefit) from discontinued operations 1,409,000 (382,000) (230,000) Income (loss) from discontinued operations, net of income tax expense (benefit) $ 2,234,000 $ (569,000) $ (336,000)

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Identified Intangible Assets	The amount of identified intangible assets, including the respective amounts of accumulated amortization, are as follows: December 31, 2015 2014 Database $ 22,790,000 $ 19,435,000 Accumulated amortization (17,121,000) (15,018,000) Database, net 5,669,000 4,417,000 Customer relationships 14,100,000 14,100,000 Accumulated amortization (8,328,000) (7,379,000) Customer relationships, net 5,772,000 6,721,000 Website 14,735,000 11,936,000 Accumulated amortization (10,669,000) (8,876,000) Website, net 4,066,000 3,060,000 Acquired below market lease 2,800,000 2,800,000 Accumulated amortization (2,620,000) (2,317,000) Acquired below market lease, net 180,000 483,000 Intangibles, net $ 15,687,000 $ 14,681,000
Summary Amortization Expense Related to Net Intangible Asset	The Company’s future amortization expense related to the net intangible asset balance at December 31, 2015 follows: For the Year Ended December 31, Amount 2016 $ 5,106,000 2017 3,942,000 2018 2,687,000 2019 1,489,000 2020 1,114,000 Thereafter 1,349,000 Total $ 15,687,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Components of Income Tax Expense (Benefit)	The components of income tax expense (benefit) are as follows: For the Years Ended December 31, 2015 2014 2013 Current Federal alternative minimum tax (“AMT”) expense $ 303,000 $ 92,000 $ 42,000 Current state and local tax expense 662,000 254,000 132,000 Deferred Federal tax expense (benefit) (A) 4,962,000 2,118,000 (12,775,000) Deferred state and local tax expense (benefit) (513,000) (4,000) (1,299,000) Consolidated income tax expense (benefit), including taxes attributable to discontinued operations (B) 5,414,000 2,460,000 (13,900,000) Less income tax expense (benefit) attributable to discontinued operations 1,409,000 (382,000) (230,000) Income tax expense (benefit) (C) $ 4,005,000 $ 2,842,000 $ (13,670,000) (A) Includes an AMT (benefit) of $(303,000), $(92,000) and $(1,181,000) in 2015, 2014 and 2013, respectively. (B) Includes income tax expense (benefit) attributable to (loss) from discontinued operations. (C) Reflects the tax expense (benefit) from continuing operations as reported on the consolidated statements of operations for the periods presented.
Reconciliation of Income Tax Computed at U.S. Federal Statutory Rate to Income Tax Expense (Benefit)	The reconciliation of income tax computed at the U.S. Federal statutory rate to income tax expense (benefit) on continuing operations is as follows: For the Years Ended December 31, 2015 2014 2013 Amount Percent Amount Percent Amount Percent Tax expense (benefit) at U.S. statutory rate $ 4,227,000 35.00% $ 2,610,000 35.00% $ 1,492,000 35.00% State and local tax expense (benefit), net of Federal impact 494,000 4.09% 194,000 2.60% 86,000 2.01% Impact of state and local tax rate change net of Federal impact (714,000) (5.90%) 27,000 0.36% 110,000 2.58% Cost (benefit) attributable to valuation allowance, net — — — — (150,000) (3.52%) Non-deductible items (2,000) (0.02%) 11,000 0.15% 9,000 0.21% Benefit attributable to reduction in allowance against certain deferred tax assets — — — — (15,217,000) (356.94%) Income tax expense (benefit) $ 4,005,000 33.17% $ 2,842,000 38.11% $ (13,670,000) (320.66%)
Significant Components of Company's Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities are as follows: December 31, 2015 2014 Deferred Tax Assets Net operating loss carryforwards $ 17,314,368 $ 22,113,983 Asset basis differences — tax amount greater than book value 254,773 259,922 Liability reserves 187,253 212,142 Stock compensation plans 1,644,339 1,520,041 AMT credit carryforwards 1,576,737 1,273,792 Other 45,903 21,585 21,023,373 25,401,465 Valuation allowance — — Total deferred tax assets 21,023,373 25,401,465 Deferred Tax Liabilities Acquired asset differences — book value greater than tax (2,266,160) (2,669,655) Asset basis differences — carrying amount value greater than tax (327,476) (295,073) Total deferred tax liabilities (2,593,636) (2,964,728) Net deferred tax asset (liability) $ 18,429,737 $ 22,436,737
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the unrecognized tax benefits for the years ended December 31, 2015, 2014 and 2013 follows: For the Years Ended December 31, 2015 2014 2013 Balance at beginning of period $ 105,000 $ 62,000 $ 345,000 Additional provisions and interest related to prior years 70,000 43,000 51,000 Resolution of matters during the period (16,000) — (334,000) Balance at end of period $ 159,000 $ 105,000 $ 62,000

Stock Plans and Other Incenti25

Stock Plans and Other Incentives (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Option Activity and Other Plan Data	The following table presents option activity and other plan data for the years ended December 31, 2015, 2014 and 2013: For the Years Ended December 31, 2015 2014 2013 Options Weighted- Exercise Price Options Weighted- Exercise Price Options Weighted- Exercise Price Outstanding at beginning of period 582,500 $ 9.52 627,724 $ 9.05 645,448 $ 8.94 Granted — $ — 20,000 $ 18.52 — $ — Exercised (35,000) $ (8.12) (56,362) $ (8.25) (8,862) $ (5.24) Cancelled through cash settlement — $ — (8,862) $ (4.09) (8,862) $ (5.24) Forfeited/cancelled/expired — $ — — $ — — $ — Outstanding at end of period 547,500 $ 9.61 582,500 $ 9.52 627,724 $ 9.05 Options exercisable at end of period 531,500 $ 9.35 562,500 $ 9.21 627,724 $ 9.05 Options exercisable which can be settled in cash — $ — — $ — 17,724 $ 4.09 Weighted average fair value of options granted per year (per option) $ — $ 7.64 $ — Weighted average remaining contractual life at end of period 3.0 years 3.9 years 4.5 years
Summary of Assumptions and Estimated Fair Value for Option Grants	The following table includes the assumptions that were made and the estimated fair value for option grants in 2014 (no option awards were granted during either 2015 or 2013): 2014 Grant Stock price on grant date $ 18.52 Exercise price $ 18.52 Dividend yield 2.38% Risk-free interest rate 2.20% Expected life 8.0 years Estimated volatility 47.8% Fair value of options granted (per option) $ 7.64
Summary of Options	The following table presents additional option details at December 31, 2015 and 2014: Options Outstanding and Exercisable at December 31, 2015 Options Outstanding and Exercisable at December 31, 2014 Range of Exercise Prices Outstanding Remaining Contractual Weighted Exercise Price Intrinsic Outstanding Remaining Contractual Weighted Exercise Price Intrinsic $ 7.50 20,000 1.6 $ 7.50 $ 324,600 47,500 2.6 $ 7.50 $ 886,825 $ 8.03 225,000 4.6 $ 8.03 3,533,625 225,000 5.6 $ 8.03 4,082,625 $ 10.40 282,500 1.4 $ 10.40 3,765,725 290,000 2.4 $ 10.40 4,573,300 $ 18.52 20,000 8.4 $ 18.52 104,200 20,000 9.4 $ 18.52 153,000 547,500 3.0 $ 9.61 $ 7,728,150 582,500 3.9 $ 9.52 $ 9,695,750 (A) The intrinsic value is the amount by which the fair value of the Company’s stock price exceeds the exercise price of an option at December 31, 2015 and 2014, respectively. For purposes of this calculation, the Company’s closing stock prices were $23.73 and $26.17 per share on December 31, 2015 and 2014, respectively.
Changes in RSUs	The following table presents the changes in RSUs outstanding for the years ended December 31, 2015, 2014 and 2013: For the Years Ended December 31, 2015 2014 2013 Outstanding at beginning of period 277,973 365,686 469,848 Granted 83,141 105,132 103,176 Common stock delivered (A) (B) (C) (105,970) (185,224) (205,075) Forfeited (1,103) (7,621) (2,263) Outstanding at end of period 254,041 277,973 365,686 Intrinsic value (D) $ 6,028,000 $ 7,275,000 $ 7,032,000 (A) The 2015 period includes 41,136 shares which were used to settle minimum employee withholding tax obligations for 28 employees of approximately $993,000 in 2015. A net of 64,834 shares of common stock were delivered in 2015. (B) In the 2014 period, all of the vested RSUs were issued as shares. (C) The 2013 period includes 80,139 shares which were used to settle minimum employee withholding tax obligations for 16 employees of approximately $1,280,000 in 2013. A net of 124,936 shares of common stock were delivered in 2013. (D) For purposes of this calculation, the Company’s closing stock prices were $23.73, $26.17 and $19.23 per share on December 31, 2015, 2014 and 2013, respectively.
Total Compensation Cost	For the Year Ended December 31, Options RSUs Total 2016 $ 31,000 $ 1,225,000 $ 1,256,000 2017 31,000 652,000 683,000 2018 31,000 47,000 78,000 2019 11,000 — 11,000 $ 104,000 $ 1,924,000 $ 2,028,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Lease Payments under Operating Leases	Future minimum lease payments under operating leases at December 31, 2015 are as follows: For the Year Ended December 31, Amount 2016 $ 1,680,000 2017 926,000 2018 1,069,000 2019 1,092,000 2020 1,107,000 Thereafter 2,780,000 Total $ 8,654,000

Summarized Consolidated Quart27

Summarized Consolidated Quarterly Information (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Summarized Consolidated and Condensed Quarterly Financial Information	Summarized consolidated and condensed quarterly financial information is as follows: (amounts in thousands, except per share amounts) 2015 For the Three Months For the Three Months For the Three Months For the Three Months Subscription revenue $ 11,131 $ 13,416 $ 12,137 $ 14,206 Income from continuing operations $ 1,293 $ 2,928 $ 1,508 $ 2,342 Net income $ 1,222 $ 4,067 $ 1,644 $ 3,372 Per share amounts – basic (A): Income from continuing operations $ 0.12 $ 0.26 $ 0.13 $ 0.21 Net income $ 0.11 $ 0.36 $ 0.15 $ 0.30 Per share amounts – diluted (A): Income from continuing operations $ 0.11 $ 0.25 $ 0.13 $ 0.20 Net income $ 0.10 $ 0.35 $ 0.14 $ 0.29 Weighted average number of common shares outstanding: Basic 11,191 11,229 11,236 11,251 Diluted 11,693 11,690 11,721 11,744 2014 For the Three Months For the Three Months For the Three Months For the Three Months Subscription revenue $ 9,946 $ 10,194 $ 10,469 $ 10,726 Income from continuing operations $ 1,047 $ 915 $ 1,130 $ 1,524 Net income $ 669 $ 822 $ 1,080 $ 1,476 Per share amounts – basic (A): Income from continuing operations $ 0.10 $ 0.08 $ 0.10 $ 0.14 Net income $ 0.06 $ 0.07 $ 0.10 $ 0.13 Per share amounts – diluted (A): Income from continuing operations $ 0.09 $ 0.08 $ 0.10 $ 0.12 Net income $ 0.06 $ 0.07 $ 0.09 $ 0.11 Weighted average number of common shares outstanding: Basic 10,979 11,102 11,119 11,145 Diluted 11,463 11,531 11,653 11,688 (A) Aggregate quarterly per share amounts may not equal annual or period to date amounts presented elsewhere in these consolidated financial statements due to rounding differences.

Organization and Business - Add

Organization and Business - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015Project
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of residential projects before merger	3
Percentage of ownership interest before merger	23.00%

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 16, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary Of Significant Accounting Policies [Line Items]
Variable interest entity			No	No	No
Maturity period of demand and money market accounts and short term investments			Three months or less
Depreciation expense			$ 429,498	$ 382,829	$ 332,576
Goodwill impairment identified			0	0	0
Intangible asset impairment			0	0	0
Fair value of assets	$ 0		0	0	0
Fair value of liabilities	$ 0		$ 0	$ 0	$ 0
Subscription contractual period			1 year
Company's share of Mobiuss revenue	100.00%	50.00%
Options settled in cash or stock			0	0	17,724
Liability for option cancellations	$ 0		$ 0	$ 0
ASU 2015-17 [Member]
Summary Of Significant Accounting Policies [Line Items]
Reduction of current deferred tax asset and an offsetting increase in non-current deferred tax asset amount			$ 3,798,000
Minimum [Member] | Furniture and Fixtures [Member]
Summary Of Significant Accounting Policies [Line Items]
Expected useful life of assets			3 years
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Subscription contractual period			48 months
Maximum [Member] | Furniture and Fixtures [Member]
Summary Of Significant Accounting Policies [Line Items]
Expected useful life of assets			10 years
Web Site Development [Member]
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, amortization period			3 years
Database [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, amortization period			3 years
Database [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, amortization period			5 years
Customer Relationships [Member]
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, amortization period			15 years
Lease Value [Member]
Summary Of Significant Accounting Policies [Line Items]
Remaining term of acquired office lease at the time of the Merger			9 years

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Details of Computation of Earnings per Common Share, Basic and Diluted (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Numerator for basic per share calculation:
Income from continuing operations for basic calculation	$ 2,342,000	$ 1,508,000	$ 2,928,000	$ 1,293,000	$ 1,524,000	$ 1,130,000	$ 915,000	$ 1,047,000	$ 8,070,983	$ 4,616,385	$ 17,933,431
Income (loss) from discontinued operations, net of income tax (benefit)									2,234,000	(569,263)	(336,489)
Net income for basic calculation	3,372,000	1,644,000	4,067,000	1,222,000	1,476,000	1,080,000	822,000	669,000	10,304,983	4,047,122	17,596,942
Numerator for diluted per share calculation:
Income from continuing operations	$ 2,342,000	$ 1,508,000	$ 2,928,000	$ 1,293,000	$ 1,524,000	$ 1,130,000	$ 915,000	$ 1,047,000	8,070,983	4,616,385	17,933,431
Adjustments to income from continuing operations for the statement of operations impact of dilutive securities										(136,563)
Income from continuing operations for dilution calculation									8,070,983	4,479,822	17,933,431
Income (loss) from discontinued operations, net of income tax expense (benefit)									2,234,000	(569,263)	(336,489)
Net income for dilution calculation									$ 10,304,983	$ 3,910,559	$ 17,596,942
Denominator:
Weighted average common shares - basic	11,251,000	11,236,000	11,229,000	11,191,000	11,145,000	11,119,000	11,102,000	10,979,000	11,226,932	11,086,690	10,884,533
Effect of dilutive securities:
RSUs									142,949	169,813	242,396
Stock options									336,614	336,576	269,630
Weighted average common shares - diluted	11,744,000	11,721,000	11,690,000	11,693,000	11,688,000	11,653,000	11,531,000	11,463,000	11,706,495	11,593,079	11,396,559
Per common share amounts - basic:
Income from continuing operations	$ 0.21	$ 0.13	$ 0.26	$ 0.12	$ 0.14	$ 0.10	$ 0.08	$ 0.10	$ 0.72	$ 0.42	$ 1.65
Income (loss) from discontinued operations									0.20	(0.05)	(0.03)
Net income	0.30	0.15	0.36	0.11	0.13	0.10	0.07	0.06	0.92	0.37	1.62
Per common share amounts - diluted:
Income from continuing operations	0.20	0.13	0.25	0.11	0.12	0.10	0.08	0.09	0.69	0.39	1.57
Income (loss) from discontinued operations									0.19	(0.05)	(0.03)
Net income	$ 0.29	$ 0.14	$ 0.35	$ 0.10	$ 0.11	$ 0.09	$ 0.07	$ 0.06	$ 0.88	$ 0.34	$ 1.54

Segment Information - Condensed

Segment Information - Condensed Balance Sheet Data for Segments (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 28,657,956	$ 17,745,077	$ 10,559,899	$ 4,960,850
Restricted cash and investments	212,268	212,625
Accounts receivable, net	13,741,169	12,627,063
Prepaid and other assets	670,339	369,820
Total current assets	43,281,732	30,954,585
Furniture, fixtures and equipment, net	804,427	850,866
Intangible assets, net	15,686,954	14,681,410
Deferred tax asset, net	18,429,737	22,436,737
Goodwill	54,824,648	54,824,648
Other assets	171,728	139,797
Total assets	133,199,226	123,888,043
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	5,898,226	4,170,687
Deferred revenue	25,291,499	22,885,287
Liabilities attributable to discontinued operations	145,737	299,025
Total current liabilities	31,335,462	27,354,999
Other long-term liabilities	284,316	419,638
Deferred tax liability, net	0	0
Total liabilities	31,619,778	27,774,637
Total stockholders' equity	101,579,448	96,113,406	$ 92,870,959	$ 74,556,620
Total liabilities and stockholders' equity	133,199,226	123,888,043
Reis Services [Member]
Current assets:
Cash and cash equivalents	28,465,000	17,562,000
Restricted cash and investments	212,000	213,000
Accounts receivable, net	13,741,000	12,627,000
Prepaid and other assets	417,000	213,000
Total current assets	42,835,000	30,615,000
Furniture, fixtures and equipment, net	798,000	836,000
Intangible assets, net	15,687,000	14,681,000
Deferred tax asset, net	285,000	285,000
Goodwill	57,203,000	57,203,000
Other assets	172,000	140,000
Total assets	116,980,000	103,760,000
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	4,502,000	3,157,000
Deferred revenue	25,291,000	22,885,000
Liabilities attributable to discontinued operations	0	0
Total current liabilities	29,793,000	26,042,000
Other long-term liabilities	284,000	420,000
Deferred tax liability, net	29,498,000	23,108,000
Total liabilities	59,575,000	49,570,000
Total stockholders' equity	57,405,000	54,190,000
Total liabilities and stockholders' equity	116,980,000	103,760,000
Other [Member]
Current assets:
Cash and cash equivalents	193,000	183,000
Restricted cash and investments	0	0
Accounts receivable, net	0	0
Prepaid and other assets	193,000	156,000
Total current assets	386,000	339,000
Furniture, fixtures and equipment, net	6,000	15,000
Intangible assets, net	0	0
Deferred tax asset, net	18,145,000	22,152,000
Goodwill	(2,378,000)	(2,378,000)
Other assets	0	0
Total assets	16,159,000	20,128,000
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	1,397,000	1,014,000
Deferred revenue	0	0
Liabilities attributable to discontinued operations	26,000	28,000
Total current liabilities	1,423,000	1,042,000
Other long-term liabilities	0	0
Deferred tax liability, net	(29,498,000)	(23,108,000)
Total liabilities	(28,075,000)	(22,066,000)
Total stockholders' equity	44,234,000	42,194,000
Total liabilities and stockholders' equity	16,159,000	20,128,000
Discontinued Operations [Member]
Current assets:
Cash and cash equivalents	0	0
Restricted cash and investments	0	0
Accounts receivable, net	0	0
Prepaid and other assets	60,000	0
Total current assets	60,000	0
Furniture, fixtures and equipment, net	0	0
Intangible assets, net	0	0
Deferred tax asset, net	0	0
Goodwill	0	0
Other assets	0	0
Total assets	60,000	0
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	0	0
Deferred revenue	0	0
Liabilities attributable to discontinued operations	120,000	271,000
Total current liabilities	120,000	271,000
Other long-term liabilities	0	0
Deferred tax liability, net	0	0
Total liabilities	120,000	271,000
Total stockholders' equity	(60,000)	(271,000)
Total liabilities and stockholders' equity	$ 60,000	$ 0

Segment Information - Condens32

Segment Information - Condensed Operating Data for Segments (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Subscription revenue	$ 14,206,000	$ 12,137,000	$ 13,416,000	$ 11,131,000	$ 10,726,000	$ 10,469,000	$ 10,194,000	$ 9,946,000	$ 50,890,438	$ 41,335,155	$ 34,721,088
Cost of sales of subscription revenue									9,081,624	8,037,019	6,973,772
Gross profit									41,808,814	33,298,136	27,747,316
Operating expenses:
Sales and marketing									11,700,840	10,235,349	8,349,544
Product development									3,711,054	3,472,875	3,121,729
General and administrative expenses									14,267,027	12,040,343	11,909,462
Total operating expenses									29,678,921	25,748,567	23,380,735
Other income (expenses):
Interest and other income									37,857	22,016	9,981
Interest expense									(91,767)	(113,200)	(113,200)
Total other income (expenses)									(53,910)	(91,184)	(103,219)
Income (loss) before income taxes and discontinued operations									12,075,983	7,458,385	4,263,362
Income (loss) from discontinued operations, before income taxes									3,643,000	(951,000)	(566,000)
Reis Services [Member]
Segment Reporting Information [Line Items]
Subscription revenue									50,890,000	41,335,000	34,721,000
Cost of sales of subscription revenue									9,081,000	8,037,000	6,974,000
Gross profit									41,809,000	33,298,000	27,747,000
Operating expenses:
Sales and marketing									11,701,000	10,235,000	8,350,000
Product development									3,711,000	3,473,000	3,122,000
General and administrative expenses									9,892,000	7,940,000	6,989,000
Total operating expenses									25,304,000	21,648,000	18,461,000
Other income (expenses):
Interest and other income									38,000	22,000	10,000
Interest expense									(92,000)	(113,000)	(113,000)
Total other income (expenses)									(54,000)	(91,000)	(103,000)
Income (loss) before income taxes and discontinued operations									16,451,000	11,559,000	9,183,000
Income (loss) from discontinued operations, before income taxes									0	0	0
Other [Member]
Segment Reporting Information [Line Items]
Subscription revenue									0	0	0
Cost of sales of subscription revenue									0	0	0
Gross profit									0	0	0
Operating expenses:
Sales and marketing									0	0	0
Product development									0	0	0
General and administrative expenses									4,375,000	4,101,000	4,920,000
Total operating expenses									4,375,000	4,101,000	4,920,000
Other income (expenses):
Interest and other income									0	0	0
Interest expense									0	0	0
Total other income (expenses)									0	0	0
Income (loss) before income taxes and discontinued operations									(4,375,000)	(4,101,000)	(4,920,000)
Income (loss) from discontinued operations, before income taxes									3,651,000	(920,000)	(557,000)
Discontinued Operations [Member]
Segment Reporting Information [Line Items]
Subscription revenue									0	0	0
Cost of sales of subscription revenue									0	0	0
Gross profit									0	0	0
Operating expenses:
Sales and marketing									0	0	0
Product development									0	0	0
General and administrative expenses									0	0	0
Total operating expenses									0	0	0
Other income (expenses):
Interest and other income									0	0	0
Interest expense									0	0	0
Total other income (expenses)									0	0	0
Income (loss) before income taxes and discontinued operations									0	0	0
Income (loss) from discontinued operations, before income taxes									$ (8,000)	$ (31,000)	$ (9,000)

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Thousands	Oct. 15, 2012USD ($)	Aug. 03, 2012USD ($)	Jun. 20, 2012USD ($)	Mar. 13, 2012USD ($)	Feb. 18, 2016USD ($)	Dec. 31, 2015USD ($)Subscriber	Dec. 31, 2014USD ($)Subscriber	Dec. 31, 2013USD ($)	Dec. 31, 2015USD ($)Subscriber	Sep. 30, 2009aSegment
Segment Reporting Information [Line Items]
Litigation charge regarding construction defects				$ 18,200
Other charges regarding construction defects				756
Litigation recoveries						$ 4,839	$ 26	$ 80	$ 5,658
Gold Peak [Member]
Segment Reporting Information [Line Items]
Number of units prior to sale | Segment										259
Number of acres prior to sale | a										29
Litigation charge regarding construction defects				18,200
Other charges regarding construction defects				$ 756
Settlement with the plaintiff			$ 17,000
Gold Peak [Member] | First Installment [Member]
Segment Reporting Information [Line Items]
Installment amount due		$ 5,000
Installment due date						Aug. 3, 2012
Gold Peak [Member] | Second Installment [Member]
Segment Reporting Information [Line Items]
Installment amount due	$ 12,000
Installment due date						Oct. 15, 2012
Subsequent Event [Member]
Segment Reporting Information [Line Items]
Payments received against accounts receivable					$ 10,753
Percentage collected from trade accounts receivable					77.80%
Reis Services [Member]
Segment Reporting Information [Line Items]
Percentage of Reis Service's revenue by major subscriber						10.60%	2.90%	3.40%
Aggregate percentage of subscribers contributing largest share among accounts receivable						63.90%	65.00%		63.90%
Number of subscribers contributing largest share among accounts receivable | Subscriber						23	31		23
Number of subscribers contributing largest share among major accounts receivable | Subscriber						4	4		4
Percentage of accounts receivable accounted for by major subscribers						4.00%	4.00%		4.00%
Percentage of Reis Service's accounts receivable by major subscriber						17.40%	9.40%		17.40%
Percentage of deferred revenue by major subscriber						6.80%	5.20%		6.80%

Segment Information - Accounts

Segment Information - Accounts Receivable Balances of Reis Services (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Accounts receivable, net	$ 13,741,169	$ 12,627,063
Reis Services [Member]
Segment Reporting Information [Line Items]
Accounts receivable	13,828,000	12,679,000
Allowance for doubtful accounts	(87,000)	(52,000)
Accounts receivable, net	$ 13,741,000	$ 12,627,000

Segment Information - Income (L

Segment Information - Income (Loss) from Discontinued Operations (Detail) - USD ($)	12 Months Ended			39 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Segment Reporting [Abstract]
Litigation recoveries	$ 4,839,000	$ 26,000	$ 80,000	$ 5,658,000
Other (expenses), net	(1,196,000)	(977,000)	(646,000)
Income (loss) from discontinued operations before income tax	3,643,000	(951,000)	(566,000)
Income tax expense (benefit) from discontinued operations	1,409,000	(382,000)	(230,000)
Income (loss) from discontinued operations, net of income tax expense (benefit)	$ 2,234,000	$ (569,263)	$ (336,489)

Restricted Cash and Investmen36

Restricted Cash and Investments - Additional Information (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Restricted Cash and Investments [Abstract]
Restricted cash	$ 212,268	$ 212,625

Intangible Assets - Summary of

Intangible Assets - Summary of Identified Intangible Assets (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (38,738,292)	$ (33,589,746)
Intangible assets, net	15,686,954	14,681,410
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	22,790,000	19,435,000
Accumulated amortization	(17,121,000)	(15,018,000)
Intangible assets, net	5,669,000	4,417,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	14,100,000	14,100,000
Accumulated amortization	(8,328,000)	(7,379,000)
Intangible assets, net	5,772,000	6,721,000
Website [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	14,735,000	11,936,000
Accumulated amortization	(10,669,000)	(8,876,000)
Intangible assets, net	4,066,000	3,060,000
Acquired Below Market Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	2,800,000	2,800,000
Accumulated amortization	(2,620,000)	(2,317,000)
Intangible assets, net	$ 180,000	$ 483,000

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Purchase of intangible assets		$ 5,804,090	$ 3,822,745	$ 4,051,460
Amortization expense for intangible assets		5,148,546	4,828,452	4,696,939
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Amount capitalized to intangible asset		3,355,000	2,286,000
Amortization expense for intangible assets		2,103,000	1,780,000	1,547,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets		949,000	962,000	973,000
Website [Member]
Finite-Lived Intangible Assets [Line Items]
Amount capitalized to intangible asset		2,799,000	1,537,000
Amortization expense for intangible assets		1,793,000	1,784,000	1,875,000
Acquired Below Market Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets		$ 303,000	$ 303,000	$ 302,000
Mobiuss [Member] | Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Purchase of intangible assets	$ 700,000

Intangible Assets - Summary Amo

Intangible Assets - Summary Amortization Expense Related to Net Intangible Asset (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
2,016	$ 5,106,000
2,017	3,942,000
2,018	2,687,000
2,019	1,489,000
2,020	1,114,000
Thereafter	1,349,000
Intangible assets, net	$ 15,686,954	$ 14,681,410

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Jan. 28, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Oct. 31, 2012
Debt Instrument [Line Items]
Debt outstanding		$ 0	$ 0
Revolver [Member]
Debt Instrument [Line Items]
Revolving credit facility, interest rate description		LIBOR + 2.00% per annum (for LIBOR loans) or the greater of 1.00% or the bank's prime rate minus 0.50% per annum (for base rate loans)
Unused credit facility fee		0.25%
Borrowings under revolver		$ 0	$ 0	$ 0
Revolver [Member] | LIBOR Loans [Member]
Debt Instrument [Line Items]
Revolving credit facility, interest rate description		LIBOR + 2.00% per annum (for LIBOR loans)
Spread on variable rate		2.00%
Revolver [Member] | Base Rate Loans [Member]
Debt Instrument [Line Items]
Revolving credit facility, interest rate description		The greater of 1.00% or the bank's prime rate minus 0.50% per annum (for base rate loans)
Base rate		1.00%
Spread on variable rate		(0.50%)
2012 Revolver [Member]
Debt Instrument [Line Items]
Amount of revolving credit facility					$ 10,000,000
Expiry period of revolver		3 years
Date of expiry		Oct. 16, 2015
2012 Revolver [Member] | Extended Expiration [Member]
Debt Instrument [Line Items]
Date of expiry		Jan. 31, 2016
2016 Revolver [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Amount of revolving credit facility	$ 20,000,000
Date of expiry	Jan. 28, 2019

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Current Federal alternative minimum tax ("AMT") expense	$ 303,000	$ 92,000	$ 42,000
Current state and local tax expense	662,000	254,000	132,000
Deferred Federal tax expense (benefit)	4,962,000	2,118,000	(12,775,000)
Deferred state and local tax expense (benefit)	(513,000)	(4,000)	(1,299,000)
Consolidated income tax expense (benefit), including taxes attributable to discontinued operations	5,414,000	2,460,000	(13,900,000)
Less income tax expense (benefit) attributable to discontinued operations	1,409,000	(382,000)	(230,000)
Income tax expense (benefit)	4,005,000	2,842,000	(13,670,069)
Consolidated income tax expense (benefit), including taxes attributable to discontinued operations	$ 5,414,000	$ 2,460,000	$ (13,900,000)

Income Taxes - Components of 42

Income Taxes - Components of Income Tax Expense (Benefit) (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Deferred Federal AMT expense (benefit)	$ (303,000)	$ (92,000)	$ (1,181,000)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Computed at U.S. Federal Statutory Rate to Income Tax Expense (Benefit) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Tax expense (benefit) at U.S. statutory rate, Amount	$ 4,227,000	$ 2,610,000	$ 1,492,000
State and local tax expense (benefit), net of Federal impact, Amount	494,000	194,000	86,000
Impact of state and local tax rate change net of Federal impact, Amount	(714,000)	27,000	110,000
Cost (benefit) attributable to valuation allowance, net, Amount	0	0	(150,000)
Non-deductible items, Amount	(2,000)	11,000	9,000
Benefit attributable to reduction in allowance against certain deferred tax assets, Amount	0	0	(15,217,000)
Income tax expense (benefit)	$ 4,005,000	$ 2,842,000	$ (13,670,069)
Tax expense (benefit) at U.S. statutory rate, percent	35.00%	35.00%	35.00%
State and local tax expense (benefit), net of Federal impact, percent	4.09%	2.60%	2.01%
Impact of state and local tax rate change net of Federal impact, percent	(5.90%)	0.36%	2.58%
Cost (benefit) attributable to valuation allowance, net, percent	0.00%	0.00%	(3.52%)
Non-deductible items, percent	(0.02%)	0.15%	0.21%
Benefit attributable to reduction in allowance against certain deferred tax assets, percent	0.00%	0.00%	(356.94%)
Income tax expense (benefit), percent	33.17%	38.11%	(320.66%)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes Disclosure [Line Items]
Benefit attributable to reduction in allowance against certain deferred tax assets		$ 0	$ 0	$ (15,217,000)
Deferred tax benefit				346,000
Net deferred tax asset		18,429,737	22,436,737
Aggregate Federal NOL carryforwards		46,018,000
Federal NOLs subject to an annual limitation		13,300,000
Federal NOLs not subject to an annual limitation		32,718,000
Federal NOLs annual limitation		2,779,000
Aggregate Federal NOLs expiring		10,672,000
Federal NOL attributable to excess tax deductions		$ 1,723,000
Expirations of NOL		2,024
Valuation allowance		$ 0	0	0
Aggregate income tax payments		651,502	229,982	723,228
Unrecognized tax benefits and the related estimate for interest and penalties		159,000	105,000	62,000	$ 345,000
Additional general and administrative expense, including interest		$ 70,000	$ 43,000	$ 51,000
New York State and New York City [Member]
Income Taxes Disclosure [Line Items]
Aggregate income tax payments	$ 16,000

Income Taxes - Significant Comp

Income Taxes - Significant Components of Company's Deferred Tax Assets and Liabilities (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred Tax Assets
Net operating loss carryforwards	$ 17,314,368	$ 22,113,983
Asset basis differences - tax amount greater than book value	254,773	259,922
Liability reserves	187,253	212,142
Stock compensation plans	1,644,339	1,520,041
AMT credit carryforwards	1,576,737	1,273,792
Other	45,903	21,585
Deferred tax assets, gross	21,023,373	25,401,465
Valuation allowance	0	0	$ 0
Total deferred tax assets	21,023,373	25,401,465
Deferred Tax Liabilities
Acquired asset differences - book value greater than tax	(2,266,160)	(2,669,655)
Asset basis differences - carrying amount value greater than tax	(327,476)	(295,073)
Total deferred tax liabilities	(2,593,636)	(2,964,728)
Net deferred tax asset (liability)	$ 18,429,737	$ 22,436,737

Income Taxes - Reconciliation46

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Balance at beginning of period	$ 105,000	$ 62,000	$ 345,000
Additional provisions and interest related to prior years	70,000	43,000	51,000
Resolution of matters during the period	(16,000)	0	(334,000)
Balance at end of period	$ 159,000	$ 105,000	$ 62,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended					12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Repurchase of common stock						0	0	0
Dividends declared, per share	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.11	$ 0.56	$ 0.33
Dividends paid, per share	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.11
Dividend payments, amount						$ 6,337,568	$ 3,697,588	$ 0

Stock Plans and Other Incenti48

Stock Plans and Other Incentives - Additional Information (Detail)	1 Months Ended				3 Months Ended	12 Months Ended
	Dec. 31, 2014$ / sharesshares	May. 31, 2014Employees$ / sharesshares	Feb. 28, 2014$ / sharesshares	Feb. 01, 2013$ / sharesshares	Mar. 31, 2015$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of the awards granted under the company's incentive plans						10 years
Vesting period for incentive plans		5 years
Outstanding in-the-money options						0	0	17,724
Option compensation expense (benefit) | $						$ 0	$ (137,000)	$ 82,000
Total stock options settled with net cash payments						0	8,862	8,862
Net cash payments to settle stock options | $							$ 132,000	$ 110,000
Options granted, shares		20,000				0	20,000	0
Options granted, number of employees | Employees		1
Options granted, price per share | $ / shares		$ 18.52				$ 0	$ 18.52	$ 0
Fair value granted per option | $ / shares		$ 7.64				$ 0	$ 7.64	$ 0
Shares issued for settlement of retired director restricted stock units							40,564
Non-cash compensation expense | $						$ 1,772,679	$ 1,702,163	$ 1,859,336
Compensation cost expected to be recognized | $						$ 2,028,000
RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted						83,141	105,132	103,176
Vesting rights						RSUs vest one-third a year over three years
Compensation cost expected to be recognized | $						$ 1,924,000
RSU [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted	6,900		91,431	91,356	77,405
Weighted average grant date fair value | $ / shares	$ 20.43		$ 18.13	$ 16.20	$ 22.41
RSU [Member] | Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted						5,736	6,801	11,820
Weighted average grant date fair value | $ / shares						$ 24.03	$ 20.28	$ 15.56
Number of months after the termination of service, RSUs delivered to non-employee directors						6 months
Non-cash compensation expense | $						$ 138,000	$ 138,000	$ 173,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for incentive plans						3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for incentive plans						5 years

Stock Plans and Other Incenti49

Stock Plans and Other Incentives - Option Activity and Other Plan Data (Detail) - $ / shares	1 Months Ended	12 Months Ended
	May. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding at beginning of period, Options		582,500	627,724	645,448
Granted, Options	20,000	0	20,000	0
Exercised, Options		(35,000)	(56,362)	(8,862)
Cancelled through cash settlement, Options		0	(8,862)	(8,862)
Forfeited/cancelled/expired, Options		0	0	0
Outstanding at end of period, Options		547,500	582,500	627,724
Options exercisable at end of period, Options		531,500	562,500	627,724
Options exercisable which can be settled in cash, Options		0	0	17,724
Weighted average fair value of options granted per year (per option)	$ 7.64	$ 0	$ 7.64	$ 0
Weighted average remaining contractual life at end of period		3 years	3 years 10 months 24 days	4 years 6 months
Outstanding at beginning of period, Weighted-Average Exercise Price		$ 9.52	$ 9.05	$ 8.94
Granted, Weighted-Average Exercise Price	$ 18.52	0	18.52	0
Exercised, Weighted-Average Exercise Price		(8.12)	(8.25)	(5.24)
Cancelled through cash settlement, Weighted-Average Exercise Price		0	(4.09)	(5.24)
Forfeited/cancelled/expired, Weighted-Average Exercise Price		0	0	0
Outstanding at end of period, Weighted-Average Exercise Price		9.61	9.52	9.05
Options exercisable at end of period, Weighted-Average Exercise Price		9.35	9.21	9.05
Options exercisable which can be settled in cash, Weighted-Average Exercise Price		$ 0	$ 0	$ 4.09

Stock Plans and Other Incenti50

Stock Plans and Other Incentives - Summary of Assumptions and Estimated Fair Value for Option Grants (Detail) - $ / shares	1 Months Ended	12 Months Ended
	May. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Stock price on grant date	$ 18.52	$ 0	$ 18.52	$ 0
Exercise price			$ 18.52
Dividend yield			2.38%
Risk-free interest rate			2.20%
Expected life			8 years
Estimated volatility			47.80%
Fair value of options granted (per option)	$ 7.64	$ 0	$ 7.64	$ 0

Stock Plans and Other Incenti51

Stock Plans and Other Incentives - Summary of Options (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Outstanding	547,500	582,500	627,724	645,448
Remaining Contractual Life (Years)	3 years	3 years 10 months 24 days
Weighted Average Exercise Price	$ 9.61	$ 9.52	$ 9.05	$ 8.94
Intrinsic Value	$ 7,728,150	$ 9,695,750
Exercise Price Range $7.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 7.50
Outstanding	20,000	47,500
Remaining Contractual Life (Years)	1 year 7 months 6 days	2 years 7 months 6 days
Weighted Average Exercise Price	$ 7.50	$ 7.50
Intrinsic Value	$ 324,600	$ 886,825
Exercise Price Range $8.03 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 8.03
Outstanding	225,000	225,000
Remaining Contractual Life (Years)	4 years 7 months 6 days	5 years 7 months 6 days
Weighted Average Exercise Price	$ 8.03	$ 8.03
Intrinsic Value	$ 3,533,625	$ 4,082,625
Exercise Price Range $10.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 10.40
Outstanding	282,500	290,000
Remaining Contractual Life (Years)	1 year 4 months 24 days	2 years 4 months 24 days
Weighted Average Exercise Price	$ 10.40	$ 10.40
Intrinsic Value	$ 3,765,725	$ 4,573,300
Exercise Price Range $18.52 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 18.52
Outstanding	20,000	20,000
Remaining Contractual Life (Years)	8 years 4 months 24 days	9 years 4 months 24 days
Weighted Average Exercise Price	$ 18.52	$ 18.52
Intrinsic Value	$ 104,200	$ 153,000

Stock Plans and Other Incenti52

Stock Plans and Other Incentives - Summary of Options (Parenthetical) (Detail) - $ / shares	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Closing stock price	$ 23.73	$ 26.17	$ 19.23

Stock Plans and Other Incenti53

Stock Plans and Other Incentives - Changes in RSUs (Detail) - RSU [Member] - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning of period	277,973	365,686	469,848
Granted	83,141	105,132	103,176
Common stock delivered	(105,970)	(185,224)	(205,075)
Forfeited	(1,103)	(7,621)	(2,263)
Outstanding at end of period	254,041	277,973	365,686
Intrinsic value	$ 6,028,000	$ 7,275,000	$ 7,032,000

Stock Plans and Other Incenti54

Stock Plans and Other Incentives - Changes in RSUs (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)Employee$ / sharesshares	Dec. 31, 2013USD ($)Employee$ / sharesshares	Dec. 31, 2014$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price | $ / shares	$ 23.73	$ 19.23	$ 26.17
RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock used to settle minimum employee withholding tax obligations	41,136	80,139
Number of employees withholding tax obligations | Employee	28	16
Employee withholding tax obligations approximate amount | $	$ 993,000	$ 1,280,000
Common stock delivered, net	64,834	124,936

Stock Plans and Other Incenti55

Stock Plans and Other Incentives - Total Compensation Cost (Detail)	Dec. 31, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2,016	$ 1,256,000
2,017	683,000
2,018	78,000
2,019	11,000
Total compensation cost	2,028,000
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2,016	31,000
2,017	31,000
2,018	31,000
2,019	11,000
Total compensation cost	104,000
RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2,016	1,225,000
2,017	652,000
2,018	47,000
2,019	0
Total compensation cost	$ 1,924,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Nov. 20, 2014USD ($)	Oct. 15, 2012USD ($)	Aug. 03, 2012USD ($)	Jun. 20, 2012USD ($)	Mar. 13, 2012USD ($)	Apr. 30, 2015USD ($)Subcontractor	Oct. 31, 2011USD ($)	Dec. 31, 2015USD ($)Lease	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2009Segment
Loss Contingencies [Line Items]
Construction defect suit filed against the company							$ 19,000,000
Amount of liability through verdict by jury					$ 18,200,000
Other costs associated with judgment					756,000
Amount of cover available for claim through insurance policy								$ 9,000,000
Amount of cover available for claim through insurance policy as per ACE								3,000,000
Lawsuit could have been settled								12,000,000
Amount of coverage determined by court	$ 3,000,000
Number of subcontractors | Subcontractor						2
Aggregate claim sought from subcontractors						$ 1,218,000
Litigation recoveries								$ 4,839,000	$ 26,000	$ 80,000	$ 5,658,000
Number of operating leases | Lease								3
Rent expense								$ 2,207,000	$ 2,082,000	$ 1,893,000
Letter of credit requirement								$ 212,000			$ 212,000
Contributions percentage of employees' salary								2.00%	2.00%	2.00%
Percentage of employees' contribution								50.00%	50.00%	50.00%
Capped percentage of employees' salary								4.00%	4.00%	4.00%
Company contributions								$ 259,000	$ 231,000	$ 203,000
Midtown Manhattan [Member]
Loss Contingencies [Line Items]
Number of operating leases | Lease								2
Lease expiration date								Sep. 30, 2016
White Plains [Member]
Loss Contingencies [Line Items]
Number of operating leases | Lease								1
Lease expiration date								Jun. 30, 2023
Maximum [Member]
Loss Contingencies [Line Items]
Amount of cover available for claim through insurance policy								$ 12,000,000
Gold Peak [Member]
Loss Contingencies [Line Items]
Former Gold Peak condominium project unit | Segment												259
Amount of liability through verdict by jury					18,200,000
Other costs associated with judgment					$ 756,000
Settlement with the plaintiff				$ 17,000,000
Gold Peak [Member] | First Installment [Member]
Loss Contingencies [Line Items]
Installment amount due			$ 5,000,000
Installment due date								Aug. 3, 2012
Gold Peak [Member] | Second Installment [Member]
Loss Contingencies [Line Items]
Installment amount due		$ 12,000,000
Installment due date								Oct. 15, 2012

Commitments and Contingencies57

Commitments and Contingencies - Future Minimum Lease Payments under Operating Leases (Detail)	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 1,680,000
2,017	926,000
2,018	1,069,000
2,019	1,092,000
2,020	1,107,000
Thereafter	2,780,000
Total	$ 8,654,000

Fair Value of Financial Instr58

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Debt outstanding	$ 0	$ 0

Summarized Consolidated Quart59

Summarized Consolidated Quarterly Information - Summarized Consolidated and Condensed Quarterly Financial Information (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Subscription revenue	$ 14,206,000	$ 12,137,000	$ 13,416,000	$ 11,131,000	$ 10,726,000	$ 10,469,000	$ 10,194,000	$ 9,946,000	$ 50,890,438	$ 41,335,155	$ 34,721,088
Income from continuing operations	2,342,000	1,508,000	2,928,000	1,293,000	1,524,000	1,130,000	915,000	1,047,000	8,070,983	4,616,385	17,933,431
Net income	$ 3,372,000	$ 1,644,000	$ 4,067,000	$ 1,222,000	$ 1,476,000	$ 1,080,000	$ 822,000	$ 669,000	$ 10,304,983	$ 4,047,122	$ 17,596,942
Per share amounts - basic:
Income from continuing operations	$ 0.21	$ 0.13	$ 0.26	$ 0.12	$ 0.14	$ 0.10	$ 0.08	$ 0.10	$ 0.72	$ 0.42	$ 1.65
Net income	0.30	0.15	0.36	0.11	0.13	0.10	0.07	0.06	0.92	0.37	1.62
Per share amounts - diluted:
Income from continuing operations	0.20	0.13	0.25	0.11	0.12	0.10	0.08	0.09	0.69	0.39	1.57
Net income	$ 0.29	$ 0.14	$ 0.35	$ 0.10	$ 0.11	$ 0.09	$ 0.07	$ 0.06	$ 0.88	$ 0.34	$ 1.54
Weighted average number of common shares outstanding:
Basic	11,251,000	11,236,000	11,229,000	11,191,000	11,145,000	11,119,000	11,102,000	10,979,000	11,226,932	11,086,690	10,884,533
Diluted	11,744,000	11,721,000	11,690,000	11,693,000	11,688,000	11,653,000	11,531,000	11,463,000	11,706,495	11,593,079	11,396,559