Reis 10-K 9 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 24, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
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		11,482,697
Entity Public Float			$ 228,000,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 21,490,586	$ 28,657,956
Restricted cash and investments	0	212,268
Accounts receivable, net	10,743,505	13,741,169
Prepaid and other assets	792,991	670,339
Total current assets	33,027,082	43,281,732
Furniture, fixtures and equipment, net of accumulated depreciation of $1,082,793 and $2,449,985, respectively	5,260,443	804,427
Intangible assets, net of accumulated amortization of $41,861,561 and $38,738,292, respectively	17,922,282	15,686,954
Deferred tax asset, net	16,814,737	18,429,737
Goodwill	54,824,648	54,824,648
Other assets	295,349	171,728
Total assets	128,144,541	133,199,226
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	4,031,444	5,898,226
Deferred revenue	25,031,100	25,291,499
Liabilities attributable to discontinued operations	0	145,737
Total current liabilities	29,062,544	31,335,462
Other long-term liabilities	1,902,081	284,316
Total liabilities	30,964,625	31,619,778
Commitments and contingencies
Stockholders' equity:
Common stock, $0.02 par value per share, 101,000,000 shares authorized, 11,272,150 and 11,256,405 issued and outstanding, respectively	225,443	225,128
Additional paid in capital	107,668,599	107,102,433
Retained earnings (deficit)	(10,714,126)	(5,748,113)
Total stockholders' equity	97,179,916	101,579,448
Total liabilities and stockholders' equity	$ 128,144,541	$ 133,199,226

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accumulated depreciation of furniture, fixtures and equipment	$ 1,082,793	$ 2,449,985
Accumulated amortization of intangible assets	$ 41,861,561	$ 38,738,292
Common stock, par value	$ 0.02	$ 0.02
Common stock, shares authorized	101,000,000	101,000,000
Common stock, shares issued	11,272,150	11,256,405
Common stock, shares outstanding	11,272,150	11,256,405

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended									12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue:
Subscription revenue										$ 45,398,701	$ 43,722,087	$ 39,727,112
Other revenue										2,131,054	7,168,351	1,608,043
Total revenue	$ 11,554,000	$ 11,537,000	$ 11,615,000	$ 12,824,000	$ 14,206,000	$ 12,137,000	$ 13,416,000	$ 11,131,000		47,529,755	50,890,438	41,335,155
Cost of sales										10,999,146	9,081,624	8,037,019
Gross profit										36,530,609	41,808,814	33,298,136
Operating expenses:
Sales and marketing										11,878,590	11,700,840	10,235,349
Product development										4,167,474	3,711,054	3,472,875
General and administrative expenses										15,664,495	14,267,027	12,040,343
Total operating expenses										31,710,559	29,678,921	25,748,567
Other income (expenses):
Interest and other income										21,937	37,857	22,016
Interest expense										(108,345)	(91,767)	(113,200)
Total other income (expenses)										(86,408)	(53,910)	(91,184)
Income before income taxes and discontinued operations										4,733,642	12,075,983	7,458,385
Income tax expense										1,953,000	4,005,000	2,842,000
Income from continuing operations	(230,000)	466,000	941,000	1,604,000	2,342,000	1,508,000	2,928,000	1,293,000		2,780,642	8,070,983	4,616,385
Income (loss) from discontinued operations, net of income tax expense (benefit) of $-, $1,409,000 and $(382,000), respectively										0	2,234,000	(569,263)
Net income	$ (230,000)	$ 466,000	$ 941,000	$ 1,604,000	$ 3,372,000	$ 1,644,000	$ 4,067,000	$ 1,222,000		$ 2,780,642	$ 10,304,983	$ 4,047,122
Per share amounts - basic:
Income from continuing operations	$ (0.02)	$ 0.04	$ 0.08	$ 0.14	$ 0.21	$ 0.13	$ 0.26	$ 0.12		$ 0.25	$ 0.72	$ 0.42
Net income	(0.02)	0.04	0.08	0.14	0.30	0.15	0.36	0.11		0.25	0.92	0.37
Per share amounts - diluted:
Income from continuing operations	(0.02)	0.04	0.08	0.14	0.20	0.13	0.25	0.11		0.24	0.69	0.39
Net income	$ (0.02)	$ 0.04	$ 0.08	$ 0.14	$ 0.29	$ 0.14	$ 0.35	$ 0.10		$ 0.24	$ 0.88	$ 0.34
Weighted average number of common shares outstanding:
Basic	11,294,000	11,321,000	11,322,000	11,284,000	11,251,000	11,236,000	11,229,000	11,191,000		11,305,110	11,226,932	11,086,690
Diluted	11,294,000	11,764,000	11,781,000	11,726,000	11,744,000	11,721,000	11,690,000	11,693,000		11,745,516	11,706,495	11,593,079
Dividends declared per common share	$ 0.17	$ 0.17	$ 0.17	$ 0.17	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.11	$ 0.68	$ 0.56	$ 0.33

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Income tax expense (benefit) on discontinued operations	$ 0	$ 1,409,000	$ (382,000)

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, 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 employees 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)
Stock repurchases, shares	0
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 employees 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)
Stock repurchases, shares	0
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
Shares issued for vested employees restricted stock units		$ 1,048	(1,048)
Shares issued for vested employees restricted stock units, shares		52,421
Shares issued for option exercises	$ 153,000	$ 350	152,650
Shares issued for option exercises, shares	17,500	17,500
Stock based compensation, net	$ 1,557,394		1,557,394
Dividends	(7,746,655)			(7,746,655)
Stock repurchases	$ (1,143,913)	$ (1,083)	(1,142,830)
Stock repurchases, shares	(54,176)	(54,176)
Net income	$ 2,780,642			2,780,642
Balance at Dec. 31, 2016	$ 97,179,916	$ 225,443	$ 107,668,599	$ (10,714,126)
Balance, shares at Dec. 31, 2016		11,272,150

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,780,642	$ 10,304,983	$ 4,047,122
Adjustments to reconcile to net cash provided by operating activities:
Deferred tax provision	1,766,000	4,449,000	2,113,783
Depreciation	706,906	429,498	382,829
Amortization of intangible assets	5,923,269	5,148,546	4,828,452
Stock based compensation charges	2,098,553	1,772,679	1,702,163
Changes in assets and liabilities:
Restricted cash and investments	212,268	357	4,077
Accounts receivable, net	2,997,664	(1,114,106)	(1,240,479)
Prepaid and other assets	(40,721)	(332,450)	40,320
Accrued expenses and other liabilities	(382,084)	1,170,929	446,044
Liability for option cancellations	0	0	(136,563)
Deferred revenue	(260,399)	2,406,212	2,601,109
Net cash provided by operating activities	15,802,098	24,235,648	14,788,857
CASH FLOWS FROM INVESTING ACTIVITIES:
Website and database development additions	(8,508,597)	(5,804,090)	(3,822,745)
Furniture, fixtures and equipment additions	(4,818,683)	(383,059)	(380,318)
Proceeds from sale of furniture, fixtures and equipment	2,091	0	0
Net cash (used in) investing activities	(13,325,189)	(6,187,149)	(4,203,063)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends	(7,746,655)	(6,337,568)	(3,697,588)
Registration statement costs	0	(89,331)
Proceeds from option exercises	153,000	284,250	428,750
Payments for option cancellations and restricted stock units	(701,159)	(992,971)	(131,778)
Payment of financing cost	(205,552)	0	0
Stock repurchases	(1,143,913)	0	0
Net cash (used in) financing activities	(9,644,279)	(7,135,620)	(3,400,616)
Net (decrease) increase in cash and cash equivalents	(7,167,370)	10,912,879	7,185,178
Cash and cash equivalents, beginning of year	28,657,956	17,745,077	10,559,899
Cash and cash equivalents, end of year	21,490,586	28,657,956	17,745,077
SUPPLEMENTAL INFORMATION:
Cash paid during the year for interest	42,500	25,347	25,347
Cash paid during the year for income taxes, net of refunds	722,105	651,502	229,982
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Accrual for furniture, fixtures and equipment additions	346,330
Disposal of fully depreciated furniture, fixtures and equipment	2,074,098	138,160	130,115
Accrual for website and database development costs		350,000
Disposal of fully depreciated website costs			2,895
Shares issued for vested employee restricted stock units	$ 1,048	$ 1,297	2,894
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, 2016
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 Reis Services. 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, student housing and affordable 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 Reis Portfolio CRE , 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
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). 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 the related operations, should be presented as a discontinued operation. As a result of this determination and the fact that these operations and cash flows were clearly distinguished, the operating results of the discontinued segment and related general and administrative costs were aggregated for separate presentation apart from continuing operating results of the Company in the consolidated financial statements for all periods presented. Discontinued operations were completed as of December 31, 2015, therefore there were no discontinued operations activities during the year ended December 31, 2016. 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, 2016, 2015 and 2014. 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 between three and ten years. Depreciation expense is charged to general and administrative expenses and aggregated approximately $707,000, $429,000 and $383,000 for the years ended December 31, 2016, 2015 and 2014, 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. Amortization expense for 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. Amortization expense for 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 was amortized on a straight-line basis over the remaining term of the acquired office lease. During 2016 this ascribed value was fully amortized. Amortization expense was 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 2016, 2015 and 2014 evaluations. There was no goodwill impairment identified in 2016, 2015 or 2014. 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 2016, 2015 or 2014. Deferred Financing Costs Deferred financing costs consist of costs incurred to obtain financing or financing commitments and are included in prepaid and other assets on the consolidated balance sheets. 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, 2016, 2015 and 2014, 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 Reis Portfolio CRE Reis SE Reis Portfolio CRE Reis Portfolio CRE Reis SE ReisReports The Company’s other revenue includes non-subscription revenue such as (1) non-subscription custom data deliverables or (2) one-time settlements. Revenues from ad-hoc and non-subscription custom reports or projects are recognized upon completion and delivery to the customers, provided that no significant Company obligations remain. Revenues from settlements for prior unlicensed usage is recognized at the time of the settlement when collectability is reasonably assured. Deferred revenue represents the portion of a subscription billed or collected in advance under the terms of the respective contract, which will be recognized in future periods. If a customer does not meet the payment obligations of a contract, any related accounts receivable and deferred revenue are written off at that time and the net amount, after considering any recovery of accounts receivable, is charged to cost of sales. Cost of sales of subscription revenue principally consists of salaries and related expenses for the Company’s researchers who collect, analyze and maintain the commercial real estate data that is the basis for the Company’s information services. Additionally, cost of sales includes expenses from the amortization of the database intangible asset. Interest revenue is recorded on an accrual basis. Share Based Compensation The fair market value as of the grant date of awards of stock, restricted stock units or stock options is recognized as compensation expense by the Company over the respective vesting periods. See Note 8 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 6 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, 2016 2015 2014 Numerator for basic per share calculation: Income from continuing operations for basic calculation $ 2,780,642 $ 8,070,983 $ 4,616,385 Income (loss) from discontinued operations, net of income tax (benefit) — 2,234,000 (569,263 ) Net income for basic calculation $ 2,780,642 $ 10,304,983 $ 4,047,122 Numerator for diluted per share calculation: Income from continuing operations $ 2,780,642 $ 8,070,983 $ 4,616,385 Adjustments to income from continuing operations for the statement of operations impact of dilutive securities — — (136,563 ) Income from continuing operations for dilution calculation 2,780,642 8,070,983 4,479,822 Income (loss) from discontinued operations, net of income tax expense (benefit) — 2,234,000 (569,263 ) Net income for dilution calculation $ 2,780,642 $ 10,304,983 $ 3,910,559 Denominator: Weighted average common shares – basic 11,305,110 11,226,932 11,086,690 Effect of dilutive securities: RSUs 138,077 142,949 169,813 Stock options 302,329 336,614 336,576 Weighted average common shares – diluted 11,745,516 11,706,495 11,593,079 Per common share amounts – basic: Income from continuing operations $ 0.25 $ 0.72 $ 0.42 Income (loss) from discontinued operations — 0.20 (0.05 ) Net income $ 0.25 $ 0.92 $ 0.37 Per common share amounts – diluted: Income from continuing operations $ 0.24 $ 0.69 $ 0.39 Income (loss) from discontinued operations — 0.19 (0.05 ) Net income $ 0.24 $ 0.88 $ 0.34 Potentially dilutive securities include all stock based awards. For the years ended December 31, 2016, 2015 and 2014, certain equity awards 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 9. 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 February 2016, the FASB issued ASU 2016-02, Leases . In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation January 1, 2017, which will include (1) recording an additional deferred tax asset on the balance sheet (as of December 31, 2016, the corresponding amount was approximately $657,000) and (2) the recording of a cumulative effect change to equity in 2017 related to the prior treatment of estimated forfeitures as the Company has elected to record forfeitures in the period in which they occur. Other than the items identified, the Company does not believe that adoption of ASU 2016-09 will have a material impact on its consolidated financial statements and disclosures. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows-Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash, a consensus of the FASB Emerging Issues Task Force In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business Reclassification Amounts in certain accounts, as presented in the consolidated statements of operations, the condensed balance sheet data and condensed operating data in Note 3 have been reclassified to conform to the current period presentation. In particular, the Company has (1) changed its presentation of revenue to include two categories: subscription revenue and other revenue, and (2) changed its segment presentation to combine the previously separately disclosed discontinued operations segment with the Other segment.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Information	3. Segment Information The Company is organized into separately managed segments as follows: the Reis Services segment and the Other segment. The following tables present condensed balance sheet and operating data for these segments: (amounts in thousands) Condensed Balance Sheet Data December 31, 2016 Reis Other (A) Consolidated Assets Current assets: Cash and cash equivalents $ 19,903 $ 1,588 $ 21,491 Accounts receivable, net 10,744 — 10,744 Prepaid and other assets 622 170 792 Total current assets 31,269 1,758 33,027 Furniture, fixtures and equipment, net 5,260 — 5,260 Intangible assets, net 17,922 — 17,922 Deferred tax asset, net 285 16,530 16,815 Goodwill 57,203 (2,378 ) 54,825 Other assets 295 — 295 Total assets $ 112,234 $ 15,910 $ 128,144 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — Accrued expenses and other liabilities 3,724 307 4,031 Deferred revenue 25,031 — 25,031 Total current liabilities 28,755 307 29,062 Other long-term liabilities 1,902 — 1,902 Deferred tax liability, net 32,909 (32,909 ) — Total liabilities 63,566 (32,602 ) 30,964 Total stockholders’ equity 48,668 48,512 97,180 Total liabilities and stockholders’ equity $ 112,234 $ 15,910 $ 128,144 Condensed Balance Sheet Data December 31, 2015 Reis Other (A) 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 417 253 670 Total current assets 42,835 446 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 $ 16,219 $ 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 — 146 146 Total current liabilities 29,793 1,543 31,336 Other long-term liabilities 284 — 284 Deferred tax liability, net 29,498 (29,498 ) — Total liabilities 59,575 (27,955 ) 31,620 Total stockholders’ equity 57,405 44,174 101,579 Total liabilities and stockholders’ equity $ 116,980 $ 16,219 $ 133,199 (A) Includes the assets and liabilities of the Company’s discontinued operations at December 31, 2015, and includes cash, other assets and liabilities not specifically attributable to or allocable to the Reis Services segment for both periods presented. (amounts in thousands) Condensed Operating Data for the Year Ended December 31, 2016 Reis Services Other (A) Consolidated Revenue: Subscription revenue $ 45,399 $ — $ 45,399 Other revenue 2,131 — 2,131 Total revenue 47,530 — 47,530 Cost of sales 10,999 — 10,999 Gross profit 36,531 — 36,531 Operating expenses: Sales and marketing 11,879 — 11,879 Product development 4,167 — 4,167 General and administrative expenses 11,572 4,093 15,665 Total operating expenses 27,618 4,093 31,711 Other income (expenses): Interest and other income 22 — 22 Interest expense (108 ) — (108 ) Total other income (expenses) (86 ) — (86 ) Income (loss) before income taxes and discontinued operations $ 8,827 $ (4,093 ) $ 4,734 Income from discontinued operations, before income taxes $ — $ — $ — Condensed Operating Data for the Year Ended December 31, 2015 Reis Services Other (A) Consolidated Revenue: Subscription revenue $ 43,722 $ — $ 43,722 Other revenue 7,168 — 7,168 Total revenue 50,890 — 50,890 Cost of sales 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 from discontinued operations, before income taxes $ — $ 3,643 $ 3,643 (A) Includes the results of the Company’s discontinued operations for the year ended December 31, 2015 and includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the Reis Services segment for all periods presented. (amounts in thousands) Condensed Operating Data for the Year Ended December 31, 2014 Reis Services Other Consolidated Revenue: Subscription revenue $ 39,727 $ — $ 39,727 Other revenue 1,608 — 1,608 Total revenue 41,335 — 41,335 Cost of sales 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 $ — $ (951 ) $ (951 ) (A) Includes the results of the Company’s discontinued operations for the year ended December 31, 2014 and includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the Reis Services segment for all periods presented. In the first quarter of 2016, the Company changed the segment presentation to combine the previously separately disclosed discontinued operations segment with the Other segment. The reason for this change in presentation is the result of the completion of the discontinued operating activities in 2015 and to simplify the presentation on a comparable basis. Therefore, 2015 and 2014 information for the discontinued operations segment is being presented in the Other segment. Reis Services See Note 1 for a description of Reis Services’s business and products at December 31, 2016. The Company’s largest individual customer accounted for 6.3%, 10.6% and 2.9% of Reis Services’s total revenue for the years ended December 31, 2016, 2015 and 2014, respectively. Included in other revenue was $1,200,000 and $4,519,000 for the years ended December 31, 2016 and 2015, respectively, associated with custom data deliverables and portfolio advisory services related to one customer. The following table presents the accounts receivable balances of Reis Services at December 31, 2016 and 2015: December 31, 2016 2015 Accounts receivable $ 10,862,000 $ 13,828,000 Allowance for doubtful accounts (118,000 ) (87,000 ) Accounts receivable, net $ 10,744,000 $ 13,741,000 Twenty-three subscribers accounted for an aggregate of approximately 52.4% of Reis Services’s accounts receivable at December 31, 2016, including two subscribers in excess of 4.0% and the largest representing 8.3%. Through February 24, 2017, the Company received payments of approximately $5,000,000, or 50.0%, against the December 31, 2016 accounts receivable balance. 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 $2,400,000, or 17.4%, which was associated with a custom data deliverable, half of which was recorded as other revenue in December 2015 and the remainder in February 2016. At December 31, 2016 and 2015, the largest individual subscriber accounted for 3.7% and 6.8% respectively, of deferred revenue. Discontinued Operations – Residential Development Activities Income from discontinued operations was comprised of the following for the years ended December 31, 2015 and 2014 (there were no discontinued operations activities for the year ended December 31, 2016): For the Years Ended 2015 2014 Litigation recoveries $ 4,839,000 $ 26,000 Other (expenses), net (1,196,000 ) (977,000 ) Income (loss) from discontinued operations before income tax 3,643,000 (951,000 ) Income tax expense (benefit) from discontinued operations 1,409,000 (382,000 ) Income (loss) from discontinued operations, net of income tax expense (benefit) $ 2,234,000 $ (569,000 ) 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. Subsequent to that date, the Company began recovery efforts against other responsible parties involved in the design, development, construction and supervision of the Gold Peak project. 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 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. The Company recovered approximately $4,839,000 and $26,000 in the years ended December 31, 2015 and 2014, respectively. Other expenses in these periods primarily reflect legal and other professional costs incurred related to the Gold Peak litigation recovery efforts.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	4. Intangible Assets The amount of identified intangible assets, including the respective amounts of accumulated amortization, are as follows: December 31, 2016 2015 Database $ 28,146,000 $ 22,790,000 Accumulated amortization (19,974,000 ) (17,121,000 ) Database, net 8,172,000 5,669,000 Customer relationships 14,100,000 14,100,000 Accumulated amortization (9,263,000 ) (8,328,000 ) Customer relationships, net 4,837,000 5,772,000 Website 17,538,000 14,735,000 Accumulated amortization (12,624,000 ) (10,669,000 ) Website, net 4,914,000 4,066,000 Acquired below market lease — 2,800,000 Accumulated amortization — (2,620,000 ) Acquired below market lease, net — 180,000 Intangibles, net $ 17,923,000 $ 15,687,000 With respect to the database intangible asset, the Company capitalized approximately $5,356,000 and $3,355,000 during the years ended December 31, 2016 and 2015, respectively. Separately, for the website intangible asset, the Company capitalized approximately $2,803,000 and $2,799,000 during the years ended December 31, 2016 and 2015, respectively. In September 2015, the Company entered into an agreement to purchase the intellectual property owned by a third party for the Reis Portfolio CRE Amortization expense for intangible assets aggregated approximately $5,923,000 for the year ended December 31, 2016, of which approximately $2,853,000 related to the database, which was charged to cost of sales, approximately $935,000 related to customer relationships, which was charged to sales and marketing expense, approximately $1,955,000 related to website development, which was charged to product development expense, and approximately $180,000 related to the value ascribed to the below market terms of the office lease, which was charged to general and administrative expense, all in the Reis Services segment. The lease value intangible asset was fully amortized in 2016. 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, approximately $949,000 related to customer relationships, approximately $1,793,000 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 $4,829,000 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. The Company’s future amortization expense related to the net intangible asset balance at December 31, 2016 follows: For the Year Ended December 31, Amount 2017 $ 6,216,000 2018 5,033,000 2019 3,239,000 2020 1,737,000 2021 1,176,000 Thereafter 522,000 Total $ 17,923,000

Debt

Debt	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt	5. Debt The Company had no debt outstanding at December 31, 2016 and 2015. 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. In January 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 (as amended, 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, 2016 and 2015. No borrowings were made on the Revolver during the years ended December 31, 2016 and 2015.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes The components of income tax expense (benefit) are as follows: For the Years Ended December 31, 2016 2015 2014 Current Federal alternative minimum tax (“AMT”) expense $ 147,000 $ 303,000 $ 92,000 Current state and local tax expense 40,000 662,000 254,000 Deferred Federal tax expense (A) 1,704,000 4,962,000 2,118,000 Deferred state and local tax expense (benefit) 62,000 (513,000 ) (4,000 ) Consolidated income tax expense, including taxes attributable to discontinued operations (B) 1,953,000 5,414,000 2,460,000 Less income tax expense (benefit) attributable to discontinued operations — 1,409,000 (382,000 ) Income tax expense (C) $ 1,953,000 $ 4,005,000 $ 2,842,000 (A) Includes an AMT (benefit) of $(147,000), $(303,000) and $(92,000) in 2016, 2015 and 2014, respectively. (B) Includes income tax expense attributable to income from discontinued operations. (C) Reflects the tax expense 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, 2016 2015 2014 Amount Percent Amount Percent Amount Percent Tax expense (benefit) at U.S. statutory rate $ 1,657,000 35.00 % $ 4,227,000 35.00 % $ 2,610,000 35.00 % State and local tax expense (benefit), net of Federal impact 142,000 3.00 % 494,000 4.09 % 194,000 2.60 % Impact of state and local tax rate change net of Federal impact 7,000 0.15 % (714,000 ) (5.90 %) 27,000 0.36 % Non-deductible items 147,000 3.10 % (2,000 ) (0.02 %) 11,000 0.15 % Income tax expense (benefit) $ 1,953,000 41.25 % $ 4,005,000 33.17 % $ 2,842,000 38.11 % 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 $16,815,000 and $18,430,000 at December 31, 2016 and 2015, respectively, all of which was classified as non-current. 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, 2016 2015 Deferred Tax Assets Net operating loss carryforwards $ 14,561,655 $ 17,314,368 Asset basis differences — tax amount greater than book value — 254,773 Liability reserves 792,075 187,253 Stock compensation plans 1,828,185 1,644,339 AMT credit carryforwards 1,717,792 1,576,737 Other 57,153 45,903 18,956,860 21,023,373 Valuation allowance — — Total deferred tax assets 18,956,860 21,023,373 Deferred Tax Liabilities Acquired asset differences — book value greater than tax (1,842,450 ) (2,266,160 ) Asset basis differences — carrying amount value greater than tax (299,673 ) (327,476 ) Total deferred tax liabilities (2,142,123 ) (2,593,636 ) Net deferred tax asset (liability) $ 16,814,737 $ 18,429,737 The Company had Federal NOL carryforwards aggregating approximately $38,679,000 at December 31, 2016, 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 3), losses from the Reis Services business prior to the Merger and the Company’s operating losses prior to the Merger. Approximately $5,961,000 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 NOLs are expected to be fully utilized in the future. The next NOL expiration for the Company is in 2024 for approximately $3,334,000 of Federal NOLs. Included in the Federal NOLs at December 31, 2016 is approximately $1,723,000 attributable to excess tax deductions on equity award activity in prior years. The tax benefits attributable to those NOLs have been credited directly to additional paid in capital when utilized to offset taxes payable. In 2017, these NOLs will be recorded on the Company’s consolidated balance sheet upon adoption of ASU 2016-09. 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, 2014 and 2015 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 and such NOL was utilized during an open tax year or will be utilized in the future. 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. With few exceptions, the state and local income tax returns are open to examination for the years 2013 through 2015. The Company’s reserve for unrecognized tax benefits, including estimated interest, was $154,000 and $159,000 at December 31, 2016 and 2015, respectively. The unrecognized tax benefits as well as related interest was included in general and administrative expenses. The Company recorded a reduction in expense of $(4,000) in 2016 and additional expense, including interest, of $70,000 and $43,000 in 2015 and 2014, respectively. A reconciliation of the unrecognized tax benefits for the years ended December 31, 2016, 2015 and 2014 follows: For the Years Ended December 31, 2016 2015 2014 Balance at beginning of period $ 159,000 $ 105,000 $ 62,000 (Reduction) additional provision and interest related to prior years, net (4,000 ) 70,000 43,000 Resolution of matters during the period (1,000 ) (16,000 ) — Balance at end of period $ 154,000 $ 159,000 $ 105,000 The Company expects that a substantial portion of the 2016 balance could be resolved in 2017.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stockholders' Equity	7. Stockholders’ Equity On August 30, 2016, the Company’s Board of Directors (the “Board”) authorized a repurchase program of shares of the Company’s common stock up to an aggregate of $5,000,000. Purchases under the program may be made from time to time in the open market or through privately negotiated transactions. Depending on market conditions, financial developments and other factors, these purchases may be commenced or suspended at any time, or from time to time, without prior notice and may be expanded without prior notice. The Company may make purchases pursuant to a trading plan under Securities Exchange Act Rule 10b5-1, permitting open market purchases of common stock during blackout periods. During the year ended December 31, 2016, the Company purchased an aggregate of 54,176 shares of common stock for approximately $1,144,000, or an average price of $21.11 per share, leaving approximately $3,856,000 at December 31, 2016 that may be used to purchase additional shares under the repurchase program in the future. During the years ended December 31, 2015 and 2014, the Company did not repurchase any shares of common stock. From January 1, 2017 through February 24, 2017, the Company purchased an additional 35,496 shares of common stock for approximately $721,000, or an average price of $20.32 per share. 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, and increased the dividend declared and paid to $0.17 per common share for all four quarters of 2016. Dividend payments aggregated approximately $7,747,000, $6,338,000 and $3,698,000 for the years ended December 31, 2016, 2015 and 2014, respectively.

Stock Plans and Other Incentive

Stock Plans and Other Incentives	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Plans and Other Incentives	8. 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, 2016, 2015 and 2014: For the Years Ended December 31, 2016 2015 2014 Options Weighted- Options Weighted- Options Weighted- Outstanding at beginning of period 547,500 $ 9.61 582,500 $ 9.52 627,724 $ 9.05 Granted — $ — — $ — 20,000 $ 18.52 Exercised (17,500 ) $ (8.74 ) (35,000 ) $ (8.12 ) (56,362 ) $ (8.25 ) Cancelled through cash settlement — $ — — $ — (8,862 ) $ (4.09 ) Forfeited/cancelled/expired — $ — — $ — — $ — Outstanding at end of period 530,000 $ 9.64 547,500 $ 9.61 582,500 $ 9.52 Options exercisable at end of period 518,000 $ 9.44 531,500 $ 9.35 562,500 $ 9.21 Options exercisable which can be settled in cash — $ — — $ — — $ — Weighted average fair value of options granted per year (per option) $ — $ — $ 7.64 Weighted average remaining contractual life at end of period 2.0 years 3.0 years 3.9 years 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 2016 or 2015): 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, 2016 and 2015: Options Outstanding and Exercisable Options Outstanding and Exercisable Range of Exercise Prices Outstanding Remaining Weighted Intrinsic Outstanding Remaining Weighted Intrinsic $7.50 10,000 0.6 $ 7.50 $ 147,500 20,000 1.6 $ 7.50 $ 324,600 $8.03 225,000 3.6 $ 8.03 3,200,625 225,000 4.6 $ 8.03 3,533,625 $10.40 275,000 0.4 $ 10.40 3,258,750 282,500 1.4 $ 10.40 3,765,725 $18.52 20,000 7.4 $ 18.52 74,600 20,000 8.4 $ 18.52 104,200 530,000 2.0 $ 9.64 $ 6,681,475 547,500 3.0 $ 9.61 $ 7,728,150 (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, 2016 and 2015, respectively. For purposes of this calculation, the Company’s closing stock prices were $22.25 and $23.73 per share on December 31, 2016 and 2015, 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, 2016, 2015 and 2014: For the Years Ended December 31, 2016 2015 2014 Outstanding at beginning of period 254,041 277,973 365,686 Granted 124,709 83,141 105,132 Common stock delivered (A) (B) (C) (85,181 ) (105,970 ) (185,224 ) Forfeited (12,249 ) (1,103 ) (7,621 ) Outstanding at end of period 281,320 254,041 277,973 Intrinsic value (D) $ 6,259,000 $ 6,028,000 $ 7,275,000 (A) The 2016 period includes 32,760 shares which were used to settle minimum employee withholding tax obligations for 29 employees of approximately $701,000 in 2016. A net of 52,421 shares of common stock were delivered in 2016. (B) 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. (C) In the 2014 period, all of the vested RSUs were issued as shares. (D) For purposes of this calculation, the Company’s closing stock prices were $22.25, $23.73 and $26.17 per share on December 31, 2016, 2015 and 2014, respectively. In the year ended December 31, 2016, an aggregate of 118,724 RSUs were granted to employees, which RSUs vest one-third a year over three years and had a weighted average grant date fair value of $20.22 per RSU. In the year ended December 31, 2015, an aggregate of 77,405 RSUs were granted to employees, which RSUs vest one-third a year over three years and had a weighted 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. 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 2016, 2015 and 2014 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, 2016, 2015 and 2014, an aggregate of 5,985 RSUs, 5,736 RSUs and 6,801 RSUs, respectively, were granted to non-employee directors (with an average grant date fair value of $23.04, $24.03 and $20.28 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 $2,099,000, $1,773,000 and $1,702,000, respectively, including approximately $138,000 in each year related to non-employee director equity compensation, for the years ended December 31, 2016, 2015 and 2014, 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, 2016, 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 $2,398,000. It does not include any awards granted subsequent to December 31, 2016 and does not consider the impact of adoption of ASU 2016-09. For the Year Ended December 31, Options RSUs Total 2017 $ 31,000 $ 1,432,000 $ 1,463,000 2018 31,000 827,000 858,000 2019 12,000 65,000 77,000 2020 — — — $ 74,000 $ 2,324,000 $ 2,398,000

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. 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. The Company is not a party to any litigation that could reasonably be foreseen to be material to the Company. Other Operating Commitments At December 31, 2016, the Company is a tenant under two operating leases, one for the Company’s corporate headquarters in Midtown Manhattan, New York (which expires in October 2025), and one for office space in White Plains, New York (which expires in June 2023). Rent expense was approximately $3,889,000, $2,207,000 and $2,082,000 for the years ended December 31, 2016, 2015 and 2014, 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. The 2016 amount also includes the effect of overlapping leases which created a duplication of rent and other occupancy costs from June 1, 2016 to October 31, 2016. Future minimum lease payments under operating leases at December 31, 2016 are as follows: For the Year Ended December 31, Amount 2017 $ 2,715,000 2018 3,527,000 2019 3,550,000 2020 3,565,000 2021 3,700,000 Thereafter 11,946,000 Total $ 29,003,000 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 2016, 2015 and 2014 (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 $289,000, $259,000 and $231,000 for the years ended December 31, 2016, 2015 and 2014, respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	10. Fair Value of Financial Instruments At December 31, 2016 and 2015, 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, 2016 and 2015. The Company had no debt outstanding at December 31, 2016 and 2015. See Note 5 for additional information about the Company’s debt.

Summarized Consolidated Quarter

Summarized Consolidated Quarterly Information	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Summarized Consolidated Quarterly Information	11. Summarized Consolidated Quarterly Information (Unaudited) Summarized consolidated and condensed quarterly financial information is as follows: (amounts in thousands, except per share amounts) 2016 For the Three Months For the Three Months For the Three Months For the Three Months Total revenue $ 12,824 $ 11,615 $ 11,537 $ 11,554 Income from continuing operations $ 1,604 $ 941 $ 466 $ (230 ) Net income $ 1,604 $ 941 $ 466 $ (230 ) Per share amounts – basic (A): Income from continuing operations $ 0.14 $ 0.08 $ 0.04 $ (0.02 ) Net income $ 0.14 $ 0.08 $ 0.04 $ (0.02 ) Per share amounts – diluted (A): Income from continuing operations $ 0.14 $ 0.08 $ 0.04 $ (0.02 ) Net income $ 0.14 $ 0.08 $ 0.04 $ (0.02 ) Weighted average number of common shares outstanding: Basic 11,284 11,322 11,321 11,294 Diluted 11,726 11,781 11,764 11,294 2015 For the Three Months For the Three Months For the Three Months For the Three Months Total 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 (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 Accoun19

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
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).
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 the related operations, should be presented as a discontinued operation. As a result of this determination and the fact that these operations and cash flows were clearly distinguished, the operating results of the discontinued segment and related general and administrative costs were aggregated for separate presentation apart from continuing operating results of the Company in the consolidated financial statements for all periods presented. Discontinued operations were completed as of December 31, 2015, therefore there were no discontinued operations activities during the year ended December 31, 2016.
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, 2016, 2015 and 2014.
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 between three and ten years. Depreciation expense is charged to general and administrative expenses and aggregated approximately $707,000, $429,000 and $383,000 for the years ended December 31, 2016, 2015 and 2014, 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. Amortization expense for 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. Amortization expense for 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 was amortized on a straight-line basis over the remaining term of the acquired office lease. During 2016 this ascribed value was fully amortized. Amortization expense was 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 2016, 2015 and 2014 evaluations. There was no goodwill impairment identified in 2016, 2015 or 2014. 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 2016, 2015 or 2014.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs consist of costs incurred to obtain financing or financing commitments and are included in prepaid and other assets on the consolidated balance sheets. 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, 2016, 2015 and 2014, 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 Reis Portfolio CRE Reis SE Reis Portfolio CRE Reis Portfolio CRE Reis SE ReisReports The Company’s other revenue includes non-subscription revenue such as (1) non-subscription custom data deliverables or (2) one-time settlements. Revenues from ad-hoc and non-subscription custom reports or projects are recognized upon completion and delivery to the customers, provided that no significant Company obligations remain. Revenues from settlements for prior unlicensed usage is recognized at the time of the settlement when collectability is reasonably assured. Deferred revenue represents the portion of a subscription billed or collected in advance under the terms of the respective contract, which will be recognized in future periods. If a customer does not meet the payment obligations of a contract, any related accounts receivable and deferred revenue are written off at that time and the net amount, after considering any recovery of accounts receivable, is charged to cost of sales. Cost of sales of subscription revenue principally consists of salaries and related expenses for the Company’s researchers who collect, analyze and maintain the commercial real estate data that is the basis for the Company’s information services. Additionally, cost of sales includes expenses from the amortization of the database intangible asset. Interest revenue is recorded on an accrual basis.
Share Based Compensation	Share Based Compensation The fair market value as of the grant date of awards of stock, restricted stock units or stock options is recognized as compensation expense by the Company over the respective vesting periods. See Note 8 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 6 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, 2016 2015 2014 Numerator for basic per share calculation: Income from continuing operations for basic calculation $ 2,780,642 $ 8,070,983 $ 4,616,385 Income (loss) from discontinued operations, net of income tax (benefit) — 2,234,000 (569,263 ) Net income for basic calculation $ 2,780,642 $ 10,304,983 $ 4,047,122 Numerator for diluted per share calculation: Income from continuing operations $ 2,780,642 $ 8,070,983 $ 4,616,385 Adjustments to income from continuing operations for the statement of operations impact of dilutive securities — — (136,563 ) Income from continuing operations for dilution calculation 2,780,642 8,070,983 4,479,822 Income (loss) from discontinued operations, net of income tax expense (benefit) — 2,234,000 (569,263 ) Net income for dilution calculation $ 2,780,642 $ 10,304,983 $ 3,910,559 Denominator: Weighted average common shares – basic 11,305,110 11,226,932 11,086,690 Effect of dilutive securities: RSUs 138,077 142,949 169,813 Stock options 302,329 336,614 336,576 Weighted average common shares – diluted 11,745,516 11,706,495 11,593,079 Per common share amounts – basic: Income from continuing operations $ 0.25 $ 0.72 $ 0.42 Income (loss) from discontinued operations — 0.20 (0.05 ) Net income $ 0.25 $ 0.92 $ 0.37 Per common share amounts – diluted: Income from continuing operations $ 0.24 $ 0.69 $ 0.39 Income (loss) from discontinued operations — 0.19 (0.05 ) Net income $ 0.24 $ 0.88 $ 0.34 Potentially dilutive securities include all stock based awards. For the years ended December 31, 2016, 2015 and 2014, certain equity awards 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 9.
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 February 2016, the FASB issued ASU 2016-02, Leases . In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation January 1, 2017, which will include (1) recording an additional deferred tax asset on the balance sheet (as of December 31, 2016, the corresponding amount was approximately $657,000) and (2) the recording of a cumulative effect change to equity in 2017 related to the prior treatment of estimated forfeitures as the Company has elected to record forfeitures in the period in which they occur. Other than the items identified, the Company does not believe that adoption of ASU 2016-09 will have a material impact on its consolidated financial statements and disclosures. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows-Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash, a consensus of the FASB Emerging Issues Task Force In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business
Reclassification	Reclassification Amounts in certain accounts, as presented in the consolidated statements of operations, the condensed balance sheet data and condensed operating data in Note 3 have been reclassified to conform to the current period presentation. In particular, the Company has (1) changed its presentation of revenue to include two categories: subscription revenue and other revenue, and (2) changed its segment presentation to combine the previously separately disclosed discontinued operations segment with the Other segment.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 2015 2014 Numerator for basic per share calculation: Income from continuing operations for basic calculation $ 2,780,642 $ 8,070,983 $ 4,616,385 Income (loss) from discontinued operations, net of income tax (benefit) — 2,234,000 (569,263 ) Net income for basic calculation $ 2,780,642 $ 10,304,983 $ 4,047,122 Numerator for diluted per share calculation: Income from continuing operations $ 2,780,642 $ 8,070,983 $ 4,616,385 Adjustments to income from continuing operations for the statement of operations impact of dilutive securities — — (136,563 ) Income from continuing operations for dilution calculation 2,780,642 8,070,983 4,479,822 Income (loss) from discontinued operations, net of income tax expense (benefit) — 2,234,000 (569,263 ) Net income for dilution calculation $ 2,780,642 $ 10,304,983 $ 3,910,559 Denominator: Weighted average common shares – basic 11,305,110 11,226,932 11,086,690 Effect of dilutive securities: RSUs 138,077 142,949 169,813 Stock options 302,329 336,614 336,576 Weighted average common shares – diluted 11,745,516 11,706,495 11,593,079 Per common share amounts – basic: Income from continuing operations $ 0.25 $ 0.72 $ 0.42 Income (loss) from discontinued operations — 0.20 (0.05 ) Net income $ 0.25 $ 0.92 $ 0.37 Per common share amounts – diluted: Income from continuing operations $ 0.24 $ 0.69 $ 0.39 Income (loss) from discontinued operations — 0.19 (0.05 ) Net income $ 0.24 $ 0.88 $ 0.34

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 Reis Other (A) Consolidated Assets Current assets: Cash and cash equivalents $ 19,903 $ 1,588 $ 21,491 Accounts receivable, net 10,744 — 10,744 Prepaid and other assets 622 170 792 Total current assets 31,269 1,758 33,027 Furniture, fixtures and equipment, net 5,260 — 5,260 Intangible assets, net 17,922 — 17,922 Deferred tax asset, net 285 16,530 16,815 Goodwill 57,203 (2,378 ) 54,825 Other assets 295 — 295 Total assets $ 112,234 $ 15,910 $ 128,144 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — Accrued expenses and other liabilities 3,724 307 4,031 Deferred revenue 25,031 — 25,031 Total current liabilities 28,755 307 29,062 Other long-term liabilities 1,902 — 1,902 Deferred tax liability, net 32,909 (32,909 ) — Total liabilities 63,566 (32,602 ) 30,964 Total stockholders’ equity 48,668 48,512 97,180 Total liabilities and stockholders’ equity $ 112,234 $ 15,910 $ 128,144 Condensed Balance Sheet Data December 31, 2015 Reis Other (A) 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 417 253 670 Total current assets 42,835 446 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 $ 16,219 $ 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 — 146 146 Total current liabilities 29,793 1,543 31,336 Other long-term liabilities 284 — 284 Deferred tax liability, net 29,498 (29,498 ) — Total liabilities 59,575 (27,955 ) 31,620 Total stockholders’ equity 57,405 44,174 101,579 Total liabilities and stockholders’ equity $ 116,980 $ 16,219 $ 133,199 (A) Includes the assets and liabilities of the Company’s discontinued operations at December 31, 2015, and includes cash, other assets and liabilities not specifically attributable to or allocable to the Reis Services segment for both periods presented. (amounts in thousands) Condensed Operating Data for the Year Ended December 31, 2016 Reis Services Other (A) Consolidated Revenue: Subscription revenue $ 45,399 $ — $ 45,399 Other revenue 2,131 — 2,131 Total revenue 47,530 — 47,530 Cost of sales 10,999 — 10,999 Gross profit 36,531 — 36,531 Operating expenses: Sales and marketing 11,879 — 11,879 Product development 4,167 — 4,167 General and administrative expenses 11,572 4,093 15,665 Total operating expenses 27,618 4,093 31,711 Other income (expenses): Interest and other income 22 — 22 Interest expense (108 ) — (108 ) Total other income (expenses) (86 ) — (86 ) Income (loss) before income taxes and discontinued operations $ 8,827 $ (4,093 ) $ 4,734 Income from discontinued operations, before income taxes $ — $ — $ — Condensed Operating Data for the Year Ended December 31, 2015 Reis Services Other (A) Consolidated Revenue: Subscription revenue $ 43,722 $ — $ 43,722 Other revenue 7,168 — 7,168 Total revenue 50,890 — 50,890 Cost of sales 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 from discontinued operations, before income taxes $ — $ 3,643 $ 3,643 (A) Includes the results of the Company’s discontinued operations for the year ended December 31, 2015 and includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the Reis Services segment for all periods presented. (amounts in thousands) Condensed Operating Data for the Year Ended December 31, 2014 Reis Services Other Consolidated Revenue: Subscription revenue $ 39,727 $ — $ 39,727 Other revenue 1,608 — 1,608 Total revenue 41,335 — 41,335 Cost of sales 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 $ — $ (951 ) $ (951 ) (A) Includes the results of the Company’s discontinued operations for the year ended December 31, 2014 and includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the Reis Services segment for all periods presented.
Accounts Receivable Balances of Reis Services	The following table presents the accounts receivable balances of Reis Services at December 31, 2016 and 2015: December 31, 2016 2015 Accounts receivable $ 10,862,000 $ 13,828,000 Allowance for doubtful accounts (118,000 ) (87,000 ) Accounts receivable, net $ 10,744,000 $ 13,741,000
Income from Discontinued Operations	Income from discontinued operations was comprised of the following for the years ended December 31, 2015 and 2014 (there were no discontinued operations activities for the year ended December 31, 2016): For the Years Ended 2015 2014 Litigation recoveries $ 4,839,000 $ 26,000 Other (expenses), net (1,196,000 ) (977,000 ) Income (loss) from discontinued operations before income tax 3,643,000 (951,000 ) Income tax expense (benefit) from discontinued operations 1,409,000 (382,000 ) Income (loss) from discontinued operations, net of income tax expense (benefit) $ 2,234,000 $ (569,000 )

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 2015 Database $ 28,146,000 $ 22,790,000 Accumulated amortization (19,974,000 ) (17,121,000 ) Database, net 8,172,000 5,669,000 Customer relationships 14,100,000 14,100,000 Accumulated amortization (9,263,000 ) (8,328,000 ) Customer relationships, net 4,837,000 5,772,000 Website 17,538,000 14,735,000 Accumulated amortization (12,624,000 ) (10,669,000 ) Website, net 4,914,000 4,066,000 Acquired below market lease — 2,800,000 Accumulated amortization — (2,620,000 ) Acquired below market lease, net — 180,000 Intangibles, net $ 17,923,000 $ 15,687,000
Summary Amortization Expense Related to Net Intangible Asset	The Company’s future amortization expense related to the net intangible asset balance at December 31, 2016 follows: For the Year Ended December 31, Amount 2017 $ 6,216,000 2018 5,033,000 2019 3,239,000 2020 1,737,000 2021 1,176,000 Thereafter 522,000 Total $ 17,923,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 2015 2014 Current Federal alternative minimum tax (“AMT”) expense $ 147,000 $ 303,000 $ 92,000 Current state and local tax expense 40,000 662,000 254,000 Deferred Federal tax expense (A) 1,704,000 4,962,000 2,118,000 Deferred state and local tax expense (benefit) 62,000 (513,000 ) (4,000 ) Consolidated income tax expense, including taxes attributable to discontinued operations (B) 1,953,000 5,414,000 2,460,000 Less income tax expense (benefit) attributable to discontinued operations — 1,409,000 (382,000 ) Income tax expense (C) $ 1,953,000 $ 4,005,000 $ 2,842,000 (A) Includes an AMT (benefit) of $(147,000), $(303,000) and $(92,000) in 2016, 2015 and 2014, respectively. (B) Includes income tax expense attributable to income from discontinued operations. (C) Reflects the tax expense 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, 2016 2015 2014 Amount Percent Amount Percent Amount Percent Tax expense (benefit) at U.S. statutory rate $ 1,657,000 35.00 % $ 4,227,000 35.00 % $ 2,610,000 35.00 % State and local tax expense (benefit), net of Federal impact 142,000 3.00 % 494,000 4.09 % 194,000 2.60 % Impact of state and local tax rate change net of Federal impact 7,000 0.15 % (714,000 ) (5.90 %) 27,000 0.36 % Non-deductible items 147,000 3.10 % (2,000 ) (0.02 %) 11,000 0.15 % Income tax expense (benefit) $ 1,953,000 41.25 % $ 4,005,000 33.17 % $ 2,842,000 38.11 %
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, 2016 2015 Deferred Tax Assets Net operating loss carryforwards $ 14,561,655 $ 17,314,368 Asset basis differences — tax amount greater than book value — 254,773 Liability reserves 792,075 187,253 Stock compensation plans 1,828,185 1,644,339 AMT credit carryforwards 1,717,792 1,576,737 Other 57,153 45,903 18,956,860 21,023,373 Valuation allowance — — Total deferred tax assets 18,956,860 21,023,373 Deferred Tax Liabilities Acquired asset differences — book value greater than tax (1,842,450 ) (2,266,160 ) Asset basis differences — carrying amount value greater than tax (299,673 ) (327,476 ) Total deferred tax liabilities (2,142,123 ) (2,593,636 ) Net deferred tax asset (liability) $ 16,814,737 $ 18,429,737
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the unrecognized tax benefits for the years ended December 31, 2016, 2015 and 2014 follows: For the Years Ended December 31, 2016 2015 2014 Balance at beginning of period $ 159,000 $ 105,000 $ 62,000 (Reduction) additional provision and interest related to prior years, net (4,000 ) 70,000 43,000 Resolution of matters during the period (1,000 ) (16,000 ) — Balance at end of period $ 154,000 $ 159,000 $ 105,000

Stock Plans and Other Incenti24

Stock Plans and Other Incentives (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016, 2015 and 2014: For the Years Ended December 31, 2016 2015 2014 Options Weighted- Options Weighted- Options Weighted- Outstanding at beginning of period 547,500 $ 9.61 582,500 $ 9.52 627,724 $ 9.05 Granted — $ — — $ — 20,000 $ 18.52 Exercised (17,500 ) $ (8.74 ) (35,000 ) $ (8.12 ) (56,362 ) $ (8.25 ) Cancelled through cash settlement — $ — — $ — (8,862 ) $ (4.09 ) Forfeited/cancelled/expired — $ — — $ — — $ — Outstanding at end of period 530,000 $ 9.64 547,500 $ 9.61 582,500 $ 9.52 Options exercisable at end of period 518,000 $ 9.44 531,500 $ 9.35 562,500 $ 9.21 Options exercisable which can be settled in cash — $ — — $ — — $ — Weighted average fair value of options granted per year (per option) $ — $ — $ 7.64 Weighted average remaining contractual life at end of period 2.0 years 3.0 years 3.9 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 2016 or 2015): 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, 2016 and 2015: Options Outstanding and Exercisable Options Outstanding and Exercisable Range of Exercise Prices Outstanding Remaining Weighted Intrinsic Outstanding Remaining Weighted Intrinsic $7.50 10,000 0.6 $ 7.50 $ 147,500 20,000 1.6 $ 7.50 $ 324,600 $8.03 225,000 3.6 $ 8.03 3,200,625 225,000 4.6 $ 8.03 3,533,625 $10.40 275,000 0.4 $ 10.40 3,258,750 282,500 1.4 $ 10.40 3,765,725 $18.52 20,000 7.4 $ 18.52 74,600 20,000 8.4 $ 18.52 104,200 530,000 2.0 $ 9.64 $ 6,681,475 547,500 3.0 $ 9.61 $ 7,728,150 (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, 2016 and 2015, respectively. For purposes of this calculation, the Company’s closing stock prices were $22.25 and $23.73 per share on December 31, 2016 and 2015, respectively.
Changes in RSUs	The following table presents the changes in RSUs outstanding for the years ended December 31, 2016, 2015 and 2014: For the Years Ended December 31, 2016 2015 2014 Outstanding at beginning of period 254,041 277,973 365,686 Granted 124,709 83,141 105,132 Common stock delivered (A) (B) (C) (85,181 ) (105,970 ) (185,224 ) Forfeited (12,249 ) (1,103 ) (7,621 ) Outstanding at end of period 281,320 254,041 277,973 Intrinsic value (D) $ 6,259,000 $ 6,028,000 $ 7,275,000 (A) The 2016 period includes 32,760 shares which were used to settle minimum employee withholding tax obligations for 29 employees of approximately $701,000 in 2016. A net of 52,421 shares of common stock were delivered in 2016. (B) 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. (C) In the 2014 period, all of the vested RSUs were issued as shares. (D) For purposes of this calculation, the Company’s closing stock prices were $22.25, $23.73 and $26.17 per share on December 31, 2016, 2015 and 2014, respectively.
Total Compensation Cost	For the Year Ended December 31, Options RSUs Total 2017 $ 31,000 $ 1,432,000 $ 1,463,000 2018 31,000 827,000 858,000 2019 12,000 65,000 77,000 2020 — — — $ 74,000 $ 2,324,000 $ 2,398,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Lease Payments under Operating Leases	Future minimum lease payments under operating leases at December 31, 2016 are as follows: For the Year Ended December 31, Amount 2017 $ 2,715,000 2018 3,527,000 2019 3,550,000 2020 3,565,000 2021 3,700,000 Thereafter 11,946,000 Total $ 29,003,000

Summarized Consolidated Quart26

Summarized Consolidated Quarterly Information (Tables)	12 Months Ended
	Dec. 31, 2016
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) 2016 For the Three Months For the Three Months For the Three Months For the Three Months Total revenue $ 12,824 $ 11,615 $ 11,537 $ 11,554 Income from continuing operations $ 1,604 $ 941 $ 466 $ (230 ) Net income $ 1,604 $ 941 $ 466 $ (230 ) Per share amounts – basic (A): Income from continuing operations $ 0.14 $ 0.08 $ 0.04 $ (0.02 ) Net income $ 0.14 $ 0.08 $ 0.04 $ (0.02 ) Per share amounts – diluted (A): Income from continuing operations $ 0.14 $ 0.08 $ 0.04 $ (0.02 ) Net income $ 0.14 $ 0.08 $ 0.04 $ (0.02 ) Weighted average number of common shares outstanding: Basic 11,284 11,322 11,321 11,294 Diluted 11,726 11,781 11,764 11,294 2015 For the Three Months For the Three Months For the Three Months For the Three Months Total 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 (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, 2016Project
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 Accoun28

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 16, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
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			$ 706,906	$ 429,498	$ 382,829
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%
ASU 2016-09 [Member]
Summary Of Significant Accounting Policies [Line Items]
Additional non-current deferred tax asset amount			$ 657,000
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
Customer Relationships [Member]
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, amortization period			15 years
Web Site Development [Member] | Maximum [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
General and Administrative Expense [Member]
Summary Of Significant Accounting Policies [Line Items]
Depreciation expense			$ 707,000	$ 429,000	$ 383,000

Summary of Significant Accoun29

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, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator for basic per share calculation:
Income from continuing operations for basic calculation	$ (230,000)	$ 466,000	$ 941,000	$ 1,604,000	$ 2,342,000	$ 1,508,000	$ 2,928,000	$ 1,293,000	$ 2,780,642	$ 8,070,983	$ 4,616,385
Income (loss) from discontinued operations, net of income tax (benefit)									0	2,234,000	(569,263)
Net income for basic calculation	(230,000)	466,000	941,000	1,604,000	3,372,000	1,644,000	4,067,000	1,222,000	2,780,642	10,304,983	4,047,122
Numerator for diluted per share calculation:
Income from continuing operations	$ (230,000)	$ 466,000	$ 941,000	$ 1,604,000	$ 2,342,000	$ 1,508,000	$ 2,928,000	$ 1,293,000	2,780,642	8,070,983	4,616,385
Adjustments to income from continuing operations for the statement of operations impact of dilutive securities									0	0	(136,563)
Income from continuing operations for dilution calculation									2,780,642	8,070,983	4,479,822
Income (loss) from discontinued operations, net of income tax expense (benefit)									0	2,234,000	(569,263)
Net income for dilution calculation									$ 2,780,642	$ 10,304,983	$ 3,910,559
Denominator:
Weighted average common shares - basic	11,294,000	11,321,000	11,322,000	11,284,000	11,251,000	11,236,000	11,229,000	11,191,000	11,305,110	11,226,932	11,086,690
Effect of dilutive securities:
RSUs									138,077	142,949	169,813
Stock options									302,329	336,614	336,576
Weighted average common shares - diluted	11,294,000	11,764,000	11,781,000	11,726,000	11,744,000	11,721,000	11,690,000	11,693,000	11,745,516	11,706,495	11,593,079
Per common share amounts - basic:
Income from continuing operations	$ (0.02)	$ 0.04	$ 0.08	$ 0.14	$ 0.21	$ 0.13	$ 0.26	$ 0.12	$ 0.25	$ 0.72	$ 0.42
Income (loss) from discontinued operations									0	0.20	(0.05)
Net income	(0.02)	0.04	0.08	0.14	0.30	0.15	0.36	0.11	0.25	0.92	0.37
Per common share amounts - diluted:
Income from continuing operations	(0.02)	0.04	0.08	0.14	0.20	0.13	0.25	0.11	0.24	0.69	0.39
Income (loss) from discontinued operations									0	0.19	(0.05)
Net income	$ (0.02)	$ 0.04	$ 0.08	$ 0.14	$ 0.29	$ 0.14	$ 0.35	$ 0.10	$ 0.24	$ 0.88	$ 0.34

Segment Information - Condensed

Segment Information - Condensed Balance Sheet Data for Segments (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 21,490,586	$ 28,657,956	$ 17,745,077	$ 10,559,899
Restricted cash and investments	0	212,268
Accounts receivable, net	10,743,505	13,741,169
Prepaid and other assets	792,991	670,339
Total current assets	33,027,082	43,281,732
Furniture, fixtures and equipment, net	5,260,443	804,427
Intangible assets, net	17,922,282	15,686,954
Deferred tax asset, net	16,814,737	18,429,737
Goodwill	54,824,648	54,824,648
Other assets	295,349	171,728
Total assets	128,144,541	133,199,226
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	4,031,444	5,898,226
Deferred revenue	25,031,100	25,291,499
Liabilities attributable to discontinued operations	0	145,737
Total current liabilities	29,062,544	31,335,462
Other long-term liabilities	1,902,081	284,316
Deferred tax liability, net	0	0
Total liabilities	30,964,625	31,619,778
Total stockholders' equity	97,179,916	101,579,448	$ 96,113,406	$ 92,870,959
Total liabilities and stockholders' equity	128,144,541	133,199,226
Reis Services [Member]
Current assets:
Cash and cash equivalents	19,903,000	28,465,000
Restricted cash and investments		212,000
Accounts receivable, net	10,744,000	13,741,000
Prepaid and other assets	622,000	417,000
Total current assets	31,269,000	42,835,000
Furniture, fixtures and equipment, net	5,260,000	798,000
Intangible assets, net	17,922,000	15,687,000
Deferred tax asset, net	285,000	285,000
Goodwill	57,203,000	57,203,000
Other assets	295,000	172,000
Total assets	112,234,000	116,980,000
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	3,724,000	4,502,000
Deferred revenue	25,031,000	25,291,000
Liabilities attributable to discontinued operations		0
Total current liabilities	28,755,000	29,793,000
Other long-term liabilities	1,902,000	284,000
Deferred tax liability, net	32,909,000	29,498,000
Total liabilities	63,566,000	59,575,000
Total stockholders' equity	48,668,000	57,405,000
Total liabilities and stockholders' equity	112,234,000	116,980,000
Other [Member]
Current assets:
Cash and cash equivalents	1,588,000	193,000
Restricted cash and investments		0
Accounts receivable, net	0	0
Prepaid and other assets	170,000	253,000
Total current assets	1,758,000	446,000
Furniture, fixtures and equipment, net	0	6,000
Intangible assets, net	0	0
Deferred tax asset, net	16,530,000	18,145,000
Goodwill	(2,378,000)	(2,378,000)
Other assets	0	0
Total assets	15,910,000	16,219,000
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	307,000	1,397,000
Deferred revenue	0	0
Liabilities attributable to discontinued operations		146,000
Total current liabilities	307,000	1,543,000
Other long-term liabilities	0	0
Deferred tax liability, net	(32,909,000)	(29,498,000)
Total liabilities	(32,602,000)	(27,955,000)
Total stockholders' equity	48,512,000	44,174,000
Total liabilities and stockholders' equity	$ 15,910,000	$ 16,219,000

Segment Information - Condens31

Segment Information - Condensed Operating Data for Segments (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue:
Subscription revenue									$ 45,398,701	$ 43,722,087	$ 39,727,112
Other revenue									2,131,054	7,168,351	1,608,043
Total revenue	$ 11,554,000	$ 11,537,000	$ 11,615,000	$ 12,824,000	$ 14,206,000	$ 12,137,000	$ 13,416,000	$ 11,131,000	47,529,755	50,890,438	41,335,155
Cost of sales									10,999,146	9,081,624	8,037,019
Gross profit									36,530,609	41,808,814	33,298,136
Operating expenses:
Sales and marketing									11,878,590	11,700,840	10,235,349
Product development									4,167,474	3,711,054	3,472,875
General and administrative expenses									15,664,495	14,267,027	12,040,343
Total operating expenses									31,710,559	29,678,921	25,748,567
Other income (expenses):
Interest and other income									21,937	37,857	22,016
Interest expense									(108,345)	(91,767)	(113,200)
Total other income (expenses)									(86,408)	(53,910)	(91,184)
Income (loss) before income taxes and discontinued operations									4,733,642	12,075,983	7,458,385
Income (Loss) from discontinued operations, before income taxes									0	3,643,000	(951,000)
Reis Services [Member]
Revenue:
Subscription revenue									45,399,000	43,722,000	39,727,000
Other revenue									2,131,000	7,168,000	1,608,000
Total revenue									47,530,000	50,890,000	41,335,000
Cost of sales									10,999,000	9,081,000	8,037,000
Gross profit									36,531,000	41,809,000	33,298,000
Operating expenses:
Sales and marketing									11,879,000	11,701,000	10,235,000
Product development									4,167,000	3,711,000	3,473,000
General and administrative expenses									11,572,000	9,892,000	7,940,000
Total operating expenses									27,618,000	25,304,000	21,648,000
Other income (expenses):
Interest and other income									22,000	38,000	22,000
Interest expense									(108,000)	(92,000)	(113,000)
Total other income (expenses)									(86,000)	(54,000)	(91,000)
Income (loss) before income taxes and discontinued operations									8,827,000	16,451,000	11,559,000
Income (Loss) from discontinued operations, before income taxes									0	0	0
Other [Member]
Revenue:
Subscription revenue									0	0	0
Other revenue									0	0	0
Total revenue									0	0	0
Cost of sales									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									4,093,000	4,375,000	4,101,000
Total operating expenses									4,093,000	4,375,000	4,101,000
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									(4,093,000)	(4,375,000)	(4,101,000)
Income (Loss) from discontinued operations, before income taxes									$ 0	$ 3,643,000	$ (951,000)

Segment Information - Additiona

Segment Information - Additional Information (Detail)	Oct. 15, 2012USD ($)	Aug. 03, 2012USD ($)	Jun. 20, 2012USD ($)	Mar. 13, 2012USD ($)	Feb. 24, 2017USD ($)	Dec. 31, 2016USD ($)Subscriber	Dec. 31, 2015USD ($)Subscriber	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)Subscriber	Sep. 30, 2009aSegment
Segment Reporting Information [Line Items]
Litigation recoveries							$ 4,839,000	$ 26,000	$ 5,658,000
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				$ 18,200,000
Other charges regarding construction defects				$ 756,000
Settlement with the plaintiff			$ 17,000,000
Gold Peak [Member] | First Installment [Member]
Segment Reporting Information [Line Items]
Installment amount due		$ 5,000,000
Installment due date						Aug. 3, 2012
Gold Peak [Member] | Second Installment [Member]
Segment Reporting Information [Line Items]
Installment amount due	$ 12,000,000
Installment due date						Oct. 15, 2012
Reis Services [Member]
Segment Reporting Information [Line Items]
Percentage of Reis Service's revenue by major subscriber						6.30%	10.60%	2.90%
Major customer custom revenue						$ 1,200,000	$ 4,519,000
Number of subscribers contributing largest share among accounts receivable | Subscriber						23	23		23
Aggregate percentage of subscribers contributing largest share among accounts receivable						52.40%	63.90%		63.90%
Number of subscribers contributing largest share among major accounts receivable | Subscriber						2	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						8.30%	17.40%		17.40%
Aggregate accounts receivable by major subscriber							$ 2,400,000
Percentage of deferred revenue by major subscriber						3.70%	6.80%		6.80%
Reis Services [Member] | Subsequent Event [Member]
Segment Reporting Information [Line Items]
Payments received against accounts receivable					$ 5,000,000
Percentage collected from trade accounts receivable					50.00%

Segment Information - Accounts

Segment Information - Accounts Receivable Balances of Reis Services (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Accounts receivable, net	$ 10,743,505	$ 13,741,169
Reis Services [Member]
Segment Reporting Information [Line Items]
Accounts receivable	10,862,000	13,828,000
Allowance for doubtful accounts	(118,000)	(87,000)
Accounts receivable, net	$ 10,744,000	$ 13,741,000

Segment Information - Income fr

Segment Information - Income from Discontinued Operations (Detail) - USD ($)	12 Months Ended			39 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015
Segment Reporting [Abstract]
Litigation recoveries		$ 4,839,000	$ 26,000	$ 5,658,000
Other (expenses), net		(1,196,000)	(977,000)
Income (loss) from discontinued operations before income tax	$ 0	3,643,000	(951,000)
Income tax expense (benefit) from discontinued operations	0	1,409,000	(382,000)
Income (loss) from discontinued operations, net of income tax expense (benefit)	$ 0	$ 2,234,000	$ (569,263)

Intangible Assets - Summary of

Intangible Assets - Summary of Identified Intangible Assets (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (41,861,561)	$ (38,738,292)
Intangible assets, net	17,922,282	15,686,954
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	28,146,000	22,790,000
Accumulated amortization	(19,974,000)	(17,121,000)
Intangible assets, net	8,172,000	5,669,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	14,100,000	14,100,000
Accumulated amortization	(9,263,000)	(8,328,000)
Intangible assets, net	4,837,000	5,772,000
Website [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	17,538,000	14,735,000
Accumulated amortization	(12,624,000)	(10,669,000)
Intangible assets, net	4,914,000	4,066,000
Acquired Below Market Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	0	2,800,000
Accumulated amortization	0	(2,620,000)
Intangible assets, net	$ 0	$ 180,000

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Purchase of intangible assets		$ 8,508,597	$ 5,804,090	$ 3,822,745
Amortization expense for intangible assets		5,923,269	5,148,546	4,828,452
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Amount capitalized to intangible asset		5,356,000	3,355,000
Amortization expense for intangible assets		2,853,000	2,103,000	1,780,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets		935,000	949,000	962,000
Website [Member]
Finite-Lived Intangible Assets [Line Items]
Amount capitalized to intangible asset		2,803,000	2,799,000
Amortization expense for intangible assets		1,955,000	1,793,000	1,784,000
Acquired Below Market Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets		$ 180,000	$ 303,000	$ 303,000
Intellectual Property [Member] | Reis Portfolio CRE [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, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
2,017	$ 6,216,000
2,018	5,033,000
2,019	3,239,000
2,020	1,737,000
2,021	1,176,000
Thereafter	522,000
Intangible assets, net	$ 17,922,282	$ 15,686,954

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Jan. 28, 2016	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
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]
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, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Current Federal alternative minimum tax ("AMT") expense	$ 147,000	$ 303,000	$ 92,000
Current state and local tax expense	40,000	662,000	254,000
Deferred Federal tax expense	1,704,000	4,962,000	2,118,000
Deferred state and local tax expense (benefit)	62,000	(513,000)	(4,000)
Consolidated income tax expense, including taxes attributable to discontinued operations	1,953,000	5,414,000	2,460,000
Less income tax expense (benefit) attributable to discontinued operations	0	1,409,000	(382,000)
Income tax expense	1,953,000	4,005,000	2,842,000
Consolidated income tax expense, including taxes attributable to discontinued operations	$ 1,953,000	$ 5,414,000	$ 2,460,000

Income Taxes - Components of 40

Income Taxes - Components of Income Tax Expense (Benefit) (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Deferred Federal AMT expense (benefit)	$ (147,000)	$ (303,000)	$ (92,000)

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, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Tax expense (benefit) at U.S. statutory rate, Amount	$ 1,657,000	$ 4,227,000	$ 2,610,000
State and local tax expense (benefit), net of Federal impact, Amount	142,000	494,000	194,000
Impact of state and local tax rate change net of Federal impact, Amount	7,000	(714,000)	27,000
Non-deductible items, Amount	147,000	(2,000)	11,000
Income tax expense (benefit)	$ 1,953,000	$ 4,005,000	$ 2,842,000
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	3.00%	4.09%	2.60%
Impact of state and local tax rate change net of Federal impact, percent	0.15%	(5.90%)	0.36%
Non-deductible items, percent	3.10%	(0.02%)	0.15%
Income tax expense (benefit), percent	41.25%	33.17%	38.11%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes Disclosure [Line Items]
Net deferred tax asset		$ 16,814,737	$ 18,429,737
Aggregate Federal NOL carryforwards		38,679,000
Federal NOLs subject to an annual limitation		5,961,000
Federal NOLs not subject to an annual limitation		32,718,000
Federal NOLs annual limitation		2,779,000
Aggregate Federal NOLs expiring		3,334,000
Federal NOL attributable to excess tax deductions		$ 1,723,000
Expirations of NOL		2,024
Aggregate income tax payments		$ 722,105	651,502	$ 229,982
Unrecognized tax benefits and the related estimate for interest and penalties		154,000	159,000	105,000	$ 62,000
Additional general and administrative expense, including interest		$ (4,000)	$ 70,000	$ 43,000
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, 2016	Dec. 31, 2015
Deferred Tax Assets
Net operating loss carryforwards	$ 14,561,655	$ 17,314,368
Asset basis differences - tax amount greater than book value	0	254,773
Liability reserves	792,075	187,253
Stock compensation plans	1,828,185	1,644,339
AMT credit carryforwards	1,717,792	1,576,737
Other	57,153	45,903
Deferred tax assets, gross	18,956,860	21,023,373
Valuation allowance	0	0
Total deferred tax assets	18,956,860	21,023,373
Deferred Tax Liabilities
Acquired asset differences - book value greater than tax	(1,842,450)	(2,266,160)
Asset basis differences - carrying amount value greater than tax	(299,673)	(327,476)
Total deferred tax liabilities	(2,142,123)	(2,593,636)
Net deferred tax asset (liability)	$ 16,814,737	$ 18,429,737

Income Taxes - Reconciliation44

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Balance at beginning of period	$ 159,000	$ 105,000	$ 62,000
(Reduction) additional provision and interest related to prior years, net	(4,000)	70,000	43,000
Resolution of matters during the period	(1,000)	(16,000)	0
Balance at end of period	$ 154,000	$ 159,000	$ 105,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	2 Months Ended	3 Months Ended									12 Months Ended
	Feb. 24, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Aug. 30, 2016
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase authorized														$ 5,000,000
Repurchase of common stock, shares											54,176	0	0
Repurchase of common stock, value											$ 1,143,913
Common stock repurchase, average price per share											$ 21.11
Share repurchase program, remaining amount		$ 3,856,000									$ 3,856,000
Dividends declared, per share		$ 0.17	$ 0.17	$ 0.17	$ 0.17	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.11	$ 0.68	$ 0.56	$ 0.33
Dividends paid, per share		$ 0.17	$ 0.17	$ 0.17	$ 0.17	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.11
Dividend payments, amount											$ 7,746,655	$ 6,337,568	$ 3,697,588
Subsequent Event [Member]
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock, shares	35,496
Repurchase of common stock, value	$ 721,000
Common stock repurchase, average price per share	$ 20.32

Stock Plans and Other Incenti46

Stock Plans and Other Incentives - Additional Information (Detail)	1 Months Ended			12 Months Ended
	Dec. 31, 2014$ / sharesshares	May 31, 2014Employees$ / sharesshares	Feb. 28, 2014$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / 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
Options granted, shares		20,000		0	0	20,000
Options granted, number of employees | Employees		1
Options granted, price per share | $ / shares		$ 18.52		$ 0	$ 0	$ 18.52
Fair value granted per option | $ / shares		$ 7.64		$ 0	$ 0	$ 7.64
Shares issued for settlement of retired director restricted stock units						40,564
Non-cash compensation expense | $				$ 2,098,553	$ 1,772,679	$ 1,702,163
Compensation cost expected to be recognized | $				$ 2,398,000
RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted				124,709	83,141	105,132
Vesting rights				RSUs vest one-third a year over three years
Compensation cost expected to be recognized | $				$ 2,324,000
RSU [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted	6,900		91,431	118,724	77,405
Weighted average grant date fair value | $ / shares	$ 20.43		$ 18.13	$ 20.22	$ 22.41
RSU [Member] | Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted				5,985	5,736	6,801
Weighted average grant date fair value | $ / shares				$ 23.04	$ 24.03	$ 20.28
Number of months after the termination of service, RSUs delivered to non-employee directors				6 months
Non-cash compensation expense | $				$ 138,000	$ 138,000	$ 138,000
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 Incenti47

Stock Plans and Other Incentives - Option Activity and Other Plan Data (Detail) - $ / shares	1 Months Ended	12 Months Ended
	May 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding at beginning of period, Options		547,500	582,500	627,724
Granted, Options	20,000	0	0	20,000
Exercised, Options		(17,500)	(35,000)	(56,362)
Cancelled through cash settlement, Options		0	0	(8,862)
Forfeited/cancelled/expired, Options		0	0	0
Outstanding at end of period, Options		530,000	547,500	582,500
Options exercisable at end of period, Options		518,000	531,500	562,500
Options exercisable which can be settled in cash, Options		0	0	0
Weighted average fair value of options granted per year (per option)	$ 7.64	$ 0	$ 0	$ 7.64
Weighted average remaining contractual life at end of period		2 years	3 years	3 years 10 months 24 days
Outstanding at beginning of period, Weighted-Average Exercise Price		$ 9.61	$ 9.52	$ 9.05
Granted, Weighted-Average Exercise Price	$ 18.52	0	0	18.52
Exercised, Weighted-Average Exercise Price		(8.74)	(8.12)	(8.25)
Cancelled through cash settlement, Weighted-Average Exercise Price		0	0	(4.09)
Forfeited/cancelled/expired, Weighted-Average Exercise Price		0	0	0
Outstanding at end of period, Weighted-Average Exercise Price		9.64	9.61	9.52
Options exercisable at end of period, Weighted-Average Exercise Price		9.44	9.35	9.21
Options exercisable which can be settled in cash, Weighted-Average Exercise Price		$ 0	$ 0	$ 0

Stock Plans and Other Incenti48

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, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Stock price on grant date	$ 18.52	$ 0	$ 0	$ 18.52
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	$ 0	$ 7.64

Stock Plans and Other Incenti49

Stock Plans and Other Incentives - Summary of Options (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Outstanding	530,000	547,500	582,500	627,724
Remaining Contractual Life (Years)	2 years	3 years
Weighted Average Exercise Price	$ 9.64	$ 9.61	$ 9.52	$ 9.05
Intrinsic Value	$ 6,681,475	$ 7,728,150
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	10,000	20,000
Remaining Contractual Life (Years)	6 months	1 year 7 months 6 days
Weighted Average Exercise Price	$ 7.50	$ 7.50
Intrinsic Value	$ 147,500	$ 324,600
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)	3 years 6 months	4 years 7 months 6 days
Weighted Average Exercise Price	$ 8.03	$ 8.03
Intrinsic Value	$ 3,200,625	$ 3,533,625
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	275,000	282,500
Remaining Contractual Life (Years)	4 months 24 days	1 year 4 months 24 days
Weighted Average Exercise Price	$ 10.40	$ 10.40
Intrinsic Value	$ 3,258,750	$ 3,765,725
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)	7 years 4 months 24 days	8 years 4 months 24 days
Weighted Average Exercise Price	$ 18.52	$ 18.52
Intrinsic Value	$ 74,600	$ 104,200

Stock Plans and Other Incenti50

Stock Plans and Other Incentives - Summary of Options (Parenthetical) (Detail) - $ / shares	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Closing stock price	$ 22.25	$ 23.73	$ 26.17

Stock Plans and Other Incenti51

Stock Plans and Other Incentives - Changes in RSUs (Detail) - RSU [Member] - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning of period	254,041	277,973	365,686
Granted	124,709	83,141	105,132
Common stock delivered	(85,181)	(105,970)	(185,224)
Forfeited	(12,249)	(1,103)	(7,621)
Outstanding at end of period	281,320	254,041	277,973
Intrinsic value	$ 6,259,000	$ 6,028,000	$ 7,275,000

Stock Plans and Other Incenti52

Stock Plans and Other Incentives - Changes in RSUs (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)Employee$ / sharesshares	Dec. 31, 2015USD ($)Employee$ / sharesshares	Dec. 31, 2014$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price | $ / shares	$ 22.25	$ 23.73	$ 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	32,760	41,136
Number of employees withholding tax obligations | Employee	29	28
Employee withholding tax obligations approximate amount | $	$ 701,000	$ 993,000
Common stock delivered, net	52,421	64,834

Stock Plans and Other Incenti53

Stock Plans and Other Incentives - Total Compensation Cost (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2,017	$ 1,463
2,018	858
2,019	77
2,020	0
Total compensation cost	2,398
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2,017	31
2,018	31
2,019	12
2,020	0
Total compensation cost	74
RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2,017	1,432
2,018	827
2,019	65
2,020	0
Total compensation cost	$ 2,324

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Lease	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Loss Contingencies [Line Items]
Number of operating leases	2
Rent expense | $	$ 3,889	$ 2,207	$ 2,082
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 | $	$ 289	$ 259	$ 231
Midtown Manhattan [Member]
Loss Contingencies [Line Items]
Number of operating leases	1
Lease expiration date	Oct. 31, 2025
White Plains [Member]
Loss Contingencies [Line Items]
Number of operating leases	1
Lease expiration date	Jun. 30, 2023

Commitments and Contingencies55

Commitments and Contingencies - Future Minimum Lease Payments under Operating Leases (Detail)	Dec. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 2,715,000
2,018	3,527,000
2,019	3,550,000
2,020	3,565,000
2,021	3,700,000
Thereafter	11,946,000
Total	$ 29,003,000

Fair Value of Financial Instr56

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Debt outstanding	$ 0	$ 0

Summarized Consolidated Quart57

Summarized Consolidated Quarterly Information - Summarized Consolidated and Condensed Quarterly Financial Information (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 11,554,000	$ 11,537,000	$ 11,615,000	$ 12,824,000	$ 14,206,000	$ 12,137,000	$ 13,416,000	$ 11,131,000	$ 47,529,755	$ 50,890,438	$ 41,335,155
Income from continuing operations	(230,000)	466,000	941,000	1,604,000	2,342,000	1,508,000	2,928,000	1,293,000	2,780,642	8,070,983	4,616,385
Net income	$ (230,000)	$ 466,000	$ 941,000	$ 1,604,000	$ 3,372,000	$ 1,644,000	$ 4,067,000	$ 1,222,000	$ 2,780,642	$ 10,304,983	$ 4,047,122
Per share amounts - basic:
Income from continuing operations	$ (0.02)	$ 0.04	$ 0.08	$ 0.14	$ 0.21	$ 0.13	$ 0.26	$ 0.12	$ 0.25	$ 0.72	$ 0.42
Net income	(0.02)	0.04	0.08	0.14	0.30	0.15	0.36	0.11	0.25	0.92	0.37
Per share amounts - diluted:
Income from continuing operations	(0.02)	0.04	0.08	0.14	0.20	0.13	0.25	0.11	0.24	0.69	0.39
Net income	$ (0.02)	$ 0.04	$ 0.08	$ 0.14	$ 0.29	$ 0.14	$ 0.35	$ 0.10	$ 0.24	$ 0.88	$ 0.34
Weighted average number of common shares outstanding:
Total revenue	$ 11,554,000	$ 11,537,000	$ 11,615,000	$ 12,824,000	$ 14,206,000	$ 12,137,000	$ 13,416,000	$ 11,131,000	$ 47,529,755	$ 50,890,438	$ 41,335,155
Income from continuing operations	(230,000)	466,000	941,000	1,604,000	2,342,000	1,508,000	2,928,000	1,293,000	2,780,642	8,070,983	4,616,385
Net income	$ (230,000)	$ 466,000	$ 941,000	$ 1,604,000	$ 3,372,000	$ 1,644,000	$ 4,067,000	$ 1,222,000	$ 2,780,642	$ 10,304,983	$ 4,047,122
Basic	11,294,000	11,321,000	11,322,000	11,284,000	11,251,000	11,236,000	11,229,000	11,191,000	11,305,110	11,226,932	11,086,690
Diluted	11,294,000	11,764,000	11,781,000	11,726,000	11,744,000	11,721,000	11,690,000	11,693,000	11,745,516	11,706,495	11,593,079