Lightstone Value Plus REIT I (LHTV) 10-Q 8 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Aug. 08, 2014
Document and Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Entity Registrant Name	'LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST, INC.	'
Entity Central Index Key	'0001296884	'
Current Fiscal Year End Date	'--12-31	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	25.8

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets	'	'
Net investment property	$412,117	$414,209
Investment in unconsolidated affiliated real estate entity	8,808	9,496
Investment in affiliate	21,837	'
Cash and cash equivalents	37,785	52,899
Marketable securities, available for sale	153,364	146,383
Restricted escrows	14,447	20,145
Tenant accounts receivable (net of allowance for doubtful accounts of $153 and $194, respectively)	3,291	3,366
Mortgage receivable	5,244	5,310
Intangible assets, net	1,964	1,964
Prepaid expenses and other assets	13,975	16,280
Assets held for sale	'	7,709
Total Assets	672,832	677,761
Liabilities and Stockholders' Equity	'	'
Mortgages payable	292,471	295,278
Notes payable	39,320	40,186
Accounts payable, accrued expenses, and other liabilities	16,955	18,381
Due to sponsor	645	973
Tenant allowances and deposits payable	2,082	1,777
Distributions payable	4,499	4,525
Deferred rental income	1,746	1,414
Acquired below market lease intangibles, net	891	989
Liabilities held for sale	'	6,113
Total Liabilities	358,609	369,636
Commitments and contingencies (See Note 11)	'	'
Company's Stockholders' Equity:	'	'
Preferred shares, $0.01 par value, 10,000 shares authorized, none issued and outstanding	'	'
Common stock, $0.01 par value; 60,000 shares authorized, 25,709 and 25,635 shares issued and outstanding, respectively	257	256
Additional paid-in capital	202,303	211,447
Accumulated other comprehensive income	48,861	34,050
Accumulated surplus	15,417	23,002
Total Company stockholders' equity	266,838	268,755
Noncontrolling interests	47,385	39,370
Total Stockholders' Equity	314,223	308,125
Total Liabilities and Stockholders' Equity	$672,832	$677,761

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Per Share data, unless otherwise specified
CONSOLIDATED BALANCE SHEETS [Abstract]	'	'
Tenant accounts receivable, allowance for doubtful accounts	$153	$194
Preferred shares, par value	$0.01	$0.01
Preferred shares, shares authorized	10,000	10,000
Preferred shares, shares issued	'	'
Preferred shares, shares outstanding	'	'
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	60,000	60,000
Common stock, shares issued	25,709	25,635
Common stock, shares outstanding	25,709	25,635

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'	'	'
Rental income	$20,282	$14,051	$38,203	$25,107
Tenant recovery income	995	1,213	2,235	2,458
Other service income	3,150	2,533	6,189	4,899
Total revenues	24,427	17,797	46,627	32,464
Expenses:	'	'	'	'
Property operating expenses	13,229	9,767	25,744	18,423
Real estate taxes	1,053	1,196	2,405	2,233
General and administrative costs	1,516	2,990	3,299	5,227
Depreciation and amortization	4,219	2,451	8,189	4,815
Total operating expenses	20,017	16,404	39,637	30,698
Operating income	4,410	1,393	6,990	1,766
Other income, net	591	781	887	1,027
Mark to market adjustment on derivative financial instruments	-178	-11	-217	-1,510
Interest income	2,083	3,376	3,552	6,925
Interest expense	-4,903	-3,784	-9,799	-7,458
(Loss)/gain on sale of marketable securities (includes loss/(gain) of $14, ($11,106), ($534), and ($11,112), respectively, accumulated other comprehensive income reclassifications)	-7	13,806	1,160	13,817
Loss on disposition of real estate	-2,354	'	-2,354	'
Gain on disposition of unconsolidated affiliated real estate entities	'	'	'	1,200
Income/(loss) from investments in unconsolidated affiliated real estate entities	33	288	-102	-1,798
Net (loss)/income from continuing operations	-325	15,849	117	13,969
Net income from discontinued operations	'	378	1,620	503
Net (loss)/income	-325	16,227	1,737	14,472
Less: net income attributable to noncontrolling interests	-224	-1,221	-376	-1,484
Net (loss)/income attributable to Company's common shares	($549)	$15,006	$1,361	$12,988
Basic and diluted net (loss)/income per Company's common share:	'	'	'	'
Continuing operations	($0.02)	$0.49	($0.01)	$0.41
Discontinued operations	'	$0.01	$0.06	$0.02
Net (loss)/income per Company?s common share, basic and diluted	($0.02)	$0.50	$0.05	$0.43
Weighted average number of common shares outstanding, basic and diluted	25,785	30,152	25,766	30,137

CONSOLIDATED_STATEMENTS_OF_OPE1

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'	'	'
Reclassification adjustment for loss/(gain) included in net (loss)/income	$14	($11,106)	($534)	($11,112)

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]	'	'	'	'
Net (loss)/income	($325)	$16,227	$1,737	$14,472
Other comprehensive income/(loss):	'	'	'	'
Unrealized gain/(loss) on available for sale securities	8,435	-1,994	16,818	-380
Reclassification adjustment for loss/(gain) included in net (loss)/income	14	-11,106	-534	-11,112
Other comprehensive income/(loss)	8,449	-13,100	16,284	-11,492
Comprehensive income	8,124	3,127	18,021	2,980
Less: Comprehensive income attributable to noncontrolling interests	-987	-305	-1,848	-621
Comprehensive income attributable to Company's common shares	$7,137	$2,822	$16,173	$2,359

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Total	Common Shares [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Surplus [Member]	Total Noncontrolling Interests [Member]
In Thousands
BALANCE at Dec. 31, 2013	$308,125	$256	$211,447	$34,050	$23,002	$39,370
BALANCE, shares at Dec. 31, 2013	'	25,635	'	'	'	'
Net income	1,737	'	'	'	1,361	376
Other comprehensive income	16,284	'	'	14,811	'	1,473
Distributions declared	-8,946	'	'	'	-8,946	'
Distributions paid to noncontrolling interests	-1,395	'	'	'	'	-1,395
Contributions received from noncontrolling interests	14	'	'	'	'	14
Redemption and cancellation of shares	-4,455	-2	-12,000	'	'	7,547
Redemption and cancellation of shares, shares	'	-181	'	'	'	'
Shares issued from distribution reinvestment program	2,859	3	2,856	'	'	'
Shares issued from distribution reinvestment program, shares	'	255	'	'	'	'
BALANCE at Jun. 30, 2014	$314,223	$257	$202,303	$48,861	$15,417	$47,385
BALANCE, shares at Jun. 30, 2014	'	25,709	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$1,737	$14,472
Less net income - discontinued operations	1,620	503
Net income - continuing operations	117	13,969
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	8,189	4,815
Mark to market adjustment on derivative financial instrument	217	1,510
Gain on sale of marketable securities	-1,160	-13,817
Gain on disposition of unconsolidated affiliated real estate entities	'	-1,200
Loss from investments in unconsolidated affiliated real estate entities	102	1,798
Loss on disposition of real estate	2,354	'
Other non-cash adjustments	-10	-1,438
Changes in assets and liabilities:	'	'
Decrease in prepaid expenses and other assets	912	1,638
Decrease/(increase) in tenant and other accounts receivable	45	-982
Increase in tenant allowance and security deposits payable	241	206
Increase in accounts payable and accrued expenses	1,974	143
Decrease in due to Sponsor	-328	-337
Decrease/(increase) in deferred rental income	332	-264
Net cash provided by operating activities - continuing operations	12,985	6,041
Net cash provided by operating activities - discontinued operations	44	1,066
Net cash provided by operating activities	13,029	7,107
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of investment property, net	-8,146	-70,926
Investment in affiliate	-21,837	'
Purchase of marketable securities	-12,633	-5,192
Settlement of derivative financial instrument	-3,543	'
Payments on note payable	'	-2,340
Contributions to investment in unconsolidated affiliated real estate entities	'	-12,639
Collections on mortgages receivable	66	19,563
Proceeds from sale of marketable securities	23,097	39,554
Proceeds from disposition of investments in unconsolidated affiliated real estate entities	'	1,200
Distribution from investments in unconsolidated affiliated real estate entities	585	'
Deposit for purchase of real estate, net	50	-1,363
Release of restricted escrows	6,738	4,555
Net cash used in investing activities - continuing operations	-15,623	-27,588
Net cash provided by/(used in) investing activities - discontinued operations	9,007	-515
Net cash used in investing activities	-6,616	-28,103
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Mortgage payments	-3,584	-862
Payment of loan fees and expenses	-71	-750
Redemption and cancellation of common stock	-4,455	-1,876
Proceeds from mortgage financings	778	36,143
Net payments on notes payable	-866	-21,064
Loans to affiliates	'	-4,701
Contributions received from noncontrolling interests	14	1,451
Distributions paid to noncontrolling interests	-1,395	-5,998
Distributions paid to Company's stockholders	-6,113	-7,197
Net cash used in financing activities - continuing operations	-15,692	-4,854
Net cash used in financing activities - discontinued operations	-5,835	-481
Net cash used in by financing activities	-21,527	-5,335
Net change in cash and cash equivalents	-15,114	-26,331
Cash and cash equivalents, beginning of period	52,899	98,805
Cash and cash equivalents, end of period	37,785	72,474
Supplemental disclosure of cash flow information:	'	'
Cash paid for interest	7,299	4,834
Distributions declared	8,946	10,469
Value of shares issued from distribution reinvestment program	2,859	3,311
Non-cash purchase of investment property	$97	$6,901

Organization

Organization	6 Months Ended
	Jun. 30, 2014
Organization [Abstract]	'
Organization	'
	1	Organization
	Lightstone Value Plus Real Estate Investment Trust, Inc., a Maryland corporation ("Lightstone REIT") was formed on June 8, 2004 (date of inception) and subsequently qualified as a real estate investment trust ("REIT") during the year ending December 31, 2006. Lightstone REIT was formed primarily for the purpose of engaging in the business of investing in and owning commercial and residential real estate properties located throughout the United States.
	Lightstone REIT is structured as an umbrella partnership REIT, or UPREIT, and substantially all of its current and future business is and will be conducted through Lightstone Value Plus REIT, L.P., a Delaware limited partnership formed on July 12, 2004 (the "Operating Partnership"), in which Lightstone REIT as the general partner, held a 98% interest as of June 30, 2014.
	The Lightstone REIT and the Operating Partnership and its subsidiaries are collectively referred to as the ''Company'' and the use of ''we,'' ''our,'' ''us'' or similar pronouns refers to the Lightstone REIT, its Operating Partnership or the Company as required by the context in which such pronoun is used.
	The Company is managed by Lightstone Value Plus REIT, LLC (the "Advisor"), an affiliate of the Lightstone Group, Inc., under the terms and conditions of an advisory agreement. The Lightstone Group, Inc. previously served as the Company's sponsor (the "Sponsor") during its initial public offering, which closed on October 10, 2008. The Sponsor and Advisor are majority owned and controlled by David Lichtenstein, the Chairman of the Company's board of directors (the "Board") and its Chief Executive Officer.
	The Company's stock is not currently listed on a national securities exchange. The Company may seek to list its stock for trading on a national securities exchange only if a majority of its independent directors believe listing would be in the best interest of its stockholders. The Company does not intend to list its shares at this time. The Company does not anticipate that there would be any market for its shares of common stock until they are listed for trading. In the event the Company does not obtain listing prior to October 10, 2018 (the tenth anniversary of the completion of its initial public offering,) its charter requires that the Board of Directors must either (i) seek stockholder approval of an extension or amendment of this listing deadline; or (ii) seek stockholder approval to adopt a plan of liquidation of the corporation.
	As of June 30, 2014, on a collective basis, the Company (i) wholly owned and consolidates the operating results and financial condition of 3 retail properties containing a total of approximately 0.7 million square feet of retail space, 15 industrial properties containing a total of approximately 1.3 million square feet of industrial space, 7 multi-family residential properties containing a total of 1,784 units, and 12 hotel hospitality properties containing a total of 1,557 rooms, (ii) majority owned and consolidates the operating results and financial condition of 1 residential development project, and (iii) owned an interest accounted for under the equity method of accounting in 1 office property containing a total of approximately 1.1 million square feet of office space. All of the Company's properties are located within the United States. As of June 30, 2014, the retail properties, the industrial properties, the multi-family residential properties and the office property were 84.5%, 85.5%, 95.2% and 79.7% occupied based on a weighted-average basis, respectively. Its hotel hospitality properties' average revenue per available room ("Rev PAR") was $74.19 and occupancy was 63.9%, respectively for the three months ended June 30, 2014.
	During the year ended December 31, 2013 the Company disposed of two Extended Stay Hotels located in Houston, Texas (the "Houston Extended Stay Hotels") and a retail shopping center ("Everson Pointe") located in Snellville, Georgia. The operating results of the Houston Extended Stay Hotels and Everson Pointe have been classified as discontinued operations in the consolidated statements of operations for all periods presented.
	On January 22, 2014 the Company disposed of Crowe's Crossing Shopping Center, ("Crowe's Crossing") a retail shopping center located in Stone Mountain, Georgia. The operating results of Crowe's Crossing have been classified as discontinued operations in the consolidated statements of operations for all periods presented.  Additionally, the associated assets and liabilities of Crowe's Crossing have been classified as held for sale in the consolidated balance sheet as of December 31, 2013.
	Noncontrolling Interests
	As of June 30, 2014, the noncontrolling interests consist of (i) parties of the Company that hold units in the Operating Partnership and (ii) certain interests in consolidated subsidiaries. The units include SLP units, limited partner units and Common Units. The noncontrolling interests in consolidated subsidiaries include ownership interests in Pro-DFJV Holdings LLC ("PRO"), 50-01 2nd St Associates LLC (the "2nd Street Joint Venture"), and the interests held by minority owners of certain of our hotels.
	Noncontrolling Interests - Redemption of Series A Preferred Units and Repayment of Notes Receivable
	On January 2, 2014, the Operating Partnership redeemed all of the then remaining outstanding 50,100 Series A preferred units in the Operating Partnership (the "Series A Preferred Units"), held by the Arbor Mill Run JRM, LLC, a Delaware limited liability company, Arbor National CJ, LLC, a New York limited liability company, Prime Holdings LLC, a Delaware limited liability company , TRAC Central Jersey LLC, a Delaware limited liability company, Central Jersey Holdings II, LLC, a New York limited liability company and JT Prime LLC, a Delaware limited liability company (collectively, the "Contributing Parties"), at their liquidation preference of approximately $50.1 million and the Contributing Parties simultaneously repaid the remaining notes receivable due from the Contributing Parties aggregating approximately $47.4 million in full.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2	Summary of Significant Accounting Policies
	Basis of Presentation
	The consolidated financial statements include the accounts of the Lightstone REIT and its Operating Partnership and its subsidiaries (over which the Company exercises financial and operating control). All inter-company balances and transactions have been eliminated in consolidation.
	The accompanying unaudited interim consolidated financial statements and related notes should be read in conjunction with the audited Consolidated Financial Statements of the Company and related notes as contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013. The unaudited interim consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary in the judgment of management for a fair statement of the results for the periods presented. The accompanying unaudited consolidated financial statements of Lightstone Value Plus Real Estate Investment Trust, Inc. and its Subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.
	The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate, depreciable lives, and revenue recognition. Application of these assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates.
	The consolidated balance sheet as of December 31, 2013 included herein has been derived from the consolidated balance sheet included in the Company's Annual Report on Form 10-K.
	The unaudited consolidated statements of operations for interim periods are not necessarily indicative of results for the full year or any other period.
	Pro Forma Financial Information
	The following table provides unaudited pro forma results of operations for the period indicated, as if the acquisitions that the Company made in 2013 (the Holiday Inn Express - Auburn, the Courtyard - Baton Rouge, the Residence Inn - Baton Rouge, the Aloft - Rogers, the Fairfield Inn - Jonesboro, the Hampton Inn - Miami and the Hampton Inn & Suites - Fort Lauderdale) had been acquired on January 1, 2013. Such pro forma results are not necessarily indicative of the results that actually would have occurred had these acquisitions been completed on January 1, 2013, nor are they indicative of the future operating results of the combined company.
			For the Three Months		For the Six Months
			Ended June 30, 2013		Ended June 30, 2013
	Pro forma rental revenue		$	21,551	$	40,583
	Pro forma net income		$	15,438	$	13,769
	Pro forma net income per Company's common share, basic and diluted		$	0.51	$	0.46
	Reclassifications
	Certain prior period amounts may have been reclassified to conform to the current year presentation.
	New Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board issued an accounting standards update providing new guidance on the requirements for reporting discontinued operations. The update changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This update is effective for fiscal years beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in the financial statements previously issued or available for issuance.  The Company adopted this standard during the quarter ended June 30, 2014. The adoption of this standards update affects presentation only and, as such, will not have a material impact on the Company's consolidated financial statements.
	In May 2014, the FASB issued an accounting standards update that completes the joint effort by the FASB and International Accounting Standards Board to improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards. The update applies to all companies that enter into contracts with customers to transfer goods or services and is effective for us for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted and companies have the choice to apply the update either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying the update at the date of initial application (January 1, 2017) and not adjusting comparative information. The Company is currently evaluating the requirements and impact of this update on its consolidated financial statements.

Investment_in_Unconsolidated_A

Investment in Unconsolidated Affiliated Real Estate Entity	6 Months Ended
	Jun. 30, 2014
Investment in Unconsolidated Affiliated Real Estate Entity [Abstract]	'
Investment in Unconsolidated Affiliated Real Estate Entity	'
	3	Investment in Unconsolidated Affiliated Real Estate Entity
	The entity discussed below is partially owned by the Company. The Company accounts for this investment under the equity method of accounting as the Company exercises significant influence, but does not control this entity. A summary of the Company's investment in unconsolidated affiliated real estate entity is as follows:
									As of
	Real Estate Entity		Date Acquired		Ownershipw %				30-Jun-14				31-Dec-13
	1407 Broadway Mezz II, LLC ("1407 Broadway")		4-Jan-07			49	%		$	8,808			$	9,496
			1407 Broadway
	The Company has a 49.0% ownership in 1407 Broadway, which has a sub-leasehold interest in a ground lease to an office building located at 1407 Broadway in New York, New York. During the second quarter of 2011, the Company's share of cumulative losses resulting from its ownership interest in 1407 Broadway brought the carrying value of its investment in 1407 Broadway to zero. Since the Company was not obligated to fund 1407 Broadway's deficits and the balance of the Company's investment in 1407 Broadway was zero, the Company suspended the recording of its portion of equity losses or earnings from 1407 Broadway until such time as the Company's investment in 1407 Broadway was greater than zero.
	On March 11, 2013, 1407 Broadway completed a restructuring of its outstanding non-recourse mortgage note payable with a then outstanding principal balance of approximately $127.3 million with Swedbank AB. In connection with the restructuring, 1407 Broadway made a principal pay down of approximately $1.3 million, bringing the new loan balance to $126.0 million, and extended the maturity of the loan to January 12, 2023. Additionally, during the year ended December 31, 2013, 1407 Broadway's members made capital contributions aggregating $16.1 million, of which $13.5 million was placed initially into a capital reserve account with the lender pursuant to the terms of the restructuring. As a result of the Company's capital contributions which totaled $12.1 million, it commenced recording equity earnings in the first quarter of 2013. The Company's equity earnings for the three and six months ended June 30, 2013 includes an adjustment to record previously unrecorded losses aggregating $5.2 million through December 31, 2012.
			1407 Broadway Financial Information
			The following table represents the unaudited condensed income statement for 1407 Broadway:
			For the Three Months Ended June 30,								For the Six Months Ended June 30,
			2014				2013				2014				2013
	Total revenue		$	9,900			$	9,256			$	19,882			$	18,943
	Property operating expenses			7,041				6,602				15,049				13,828
	Depreciation and amortization			1,745				1,385				3,411				2,775
	Operating income			1,114				1,269				1,422				2,340
	Interest expense and other, net			(1,165	)			(681	)			(1,874	)			(2,871	)
	Gain on debt extinguishment			-				-				-				7,494
	Net (loss)/income		$	(51	)		$	588			$	(452	)		$	6,963
	Company's share of net income/(loss) (49%)		$	33			$	288			$	(102	)		$	(1,798	)
	* The six months ended June 30, 2013 includes an adjustment of $5,210 for previously unrecorded losses.
	The following table represents the unaudited condensed balance sheet for 1407 Broadway:
			As of				As of
			30-Jun-14				31-Dec-13
	Real estate, at cost (net)		$	119,581			$	114,188
	Intangible assets			55				249
	Cash and restricted cash			10,916				18,437
	Other assets			20,879				19,969
	Total assets		$	151,431			$	152,843
	Mortgage payable		$	126,000			$	126,000
	Other liabilities			13,542				14,503
	Member capital			11,889				12,340
	Total liabilities and members' capital		$	151,431			$	152,843

Marketable_Securities_and_Fair

Marketable Securities and Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Marketable Securities And Fair Value Measurements [Abstract]	'
Marketable Securities and Fair Value Measurements	'
	4	Marketable Securities and Fair Value Measurements
	Marketable Securities:
	The following is a summary of the Company's available for sale securities as of the dates indicated:
			As of June 30, 2014
			Adjusted Cost		Gross Unrealized Gains		Gross Unrealized			Fair Value
							Losses
	Equity Securities, primarily REITs		$	1,405	$	216	$	-		$	1,621
	Marco OP Units and Marco II OP Units			51,970		52,239		-			104,209
	Corporate Bonds and Preferred Equities			40,068		1,778		(276	)		41,570
	Mortgage Backed Securities ("MBS")			6,210		-		(246	)		5,964
	Total		$	99,653	$	54,233	$	(522	)	$	153,364
			As of December 31, 2013
			Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	Equity Securities, primarily REITs		$	10,059	$	555	$	-		$	10,614
	Marco OP Units and Marco II OP Units			51,970		37,736		-			89,706
	Corporate Bonds and Preferred Equities			39,576		675		(1,307	)		38,944
	Mortgage Backed Securities ("MBS")			7,352		-		(233	)		7,119
	Total		$	108,957	$	38,966	$	(1,540	)	$	146,383
	The Marco OP Units and the Marco II OP Units are exchangeable for a similar number of common operating partnership units ("Simon OP Units") of Simon Property Group, L.P., ("Simon OP"), the operating partnership of Simon Property Group, Inc. ("Simon"). Subject to the various conditions, the Company may elect to exchange the Marco OP Units and/or the Marco II OP Units to Simon OP Units which must be immediately delivered to Simon in exchange for cash or similar number of shares of Simon's common stock ("Simon Stock").
	All of the MBS were issued by various U.S. government-sponsored enterprises (Freddie Mac and Fannie Mae). The Company considers the declines in market value of its investment portfolio to be temporary in nature. The unrealized losses on the Company's investments were caused primarily by changes in market interest rates or widening credit spreads. When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company's intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment's amortized cost basis. During the three and six months ended June 30, 2014 and 2013, the Company did not recognize any impairment charges. As of June 30, 2014, the Company does not consider any of its investments to be other-than-temporarily impaired.
	The Company may sell certain of its investments prior to their stated maturities for strategic purposes, in anticipation of credit deterioration, or for duration management. For the three and six months ended June 30, 2014 the Company realized $7 of gross losses and $1.2 million of gross gains, related to sales of securities and early redemptions of MBS by the security issuer and for both the three and six months ended June 30, 2013 the Company realized $13.8 million of gross gains related primarily to the sale of 156,000 Marco OP units. The maturities of the Company's MBS generally ranged from 27 years to 30 years.
	Notes Payable
	Margin Loan
	The Company has access to a margin loan (the "Margin Loan") from a financial institution that holds custody of certain of the Company's marketable securities. The Margin Loan, which is due on demand, bears interest at Libor plus 0.85% (1.00% as of June 30, 2014) and is collateralized by the marketable securities in the Company's account. The amounts available to the Company under the Margin Loan are at the discretion of the financial institution and not limited to the amount of collateral in its account. The amount outstanding under this Margin Loan is $19.4 million and $20.3 million as of June 30, 2014 and December 31, 2013, respectively, and is included in Notes Payable on the consolidated balance sheets.
	Line of Credit
	On September 14, 2012, the Company entered into a non-revolving credit facility (the "Line of Credit") with a financial institution which permits borrowings up to $25.0 million. The Line of Credit expires on December 13, 2014 and bears interest at Libor plus 3.00% (3.15% as of June 30, 2014). The Line of Credit is collateralized by 440,311 Marco OP Units and PRO guaranteed the Line of Credit.
	The amount outstanding under the Line of Credit is $19.9 million as of both June 30, 2014 and December 31, 2013 and is included in Notes Payable on the consolidated balance sheets.
	Fair Value Measurements
	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.
	The standard describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:
		•		Level 1 - Quoted prices in active markets for identical assets or liabilities.
		•		Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
		•		Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	Marketable securities, available for sale, measured at fair value on a recurring basis as of the dates indicated are as follows:
			Fair Value Measurement Using
	As of June 30, 2014		Level 1		Level 2		Level 3			Total
	Marketable Securities:
	Equity Securities, primarily REITs		$	1,621	$	-	$	-		$	1,621
	Marco OP and OP II Units			-		104,209		-			104,209
	Corporate Bonds and Preferred Equities			-		41,570		-			41,570
	MBS			-		5,964		-			5,964
	Total		$	1,621	$	151,743	$	-		$	153,364
			Fair Value Measurement Using
	As of December 31, 2013		Level 1		Level 2		Level 3			Total
	Marketable Securities:
	Equity Securities, primarily REITs		$	10,614	$	-	$	-		$	10,614
	Marco OP and OP II Units			-		89,706		-			89,706
	Corporate Bonds and Preferred Equities			-		38,944		-			38,944
	MBS			-		7,119		-			7,119
	Total		$	10,614	$	135,769	$	-		$	146,383
			The Company did not have any other significant financial assets or liabilities, which would require revised valuations that are recognized at fair value.

Mortgages_Payable

Mortgages Payable	6 Months Ended
	Jun. 30, 2014
Mortgages Payable [Abstract]	'
Mortgages Payable	'
	5	Mortgages Payable
	Mortgages payable consists of the following:
									Loan Amount as of
	Property		Interest Rate	Weighted		Maturity Date	Amount Due at		30-Jun-14		December 31,
				Average Interest			Maturity				2013
				Rate as of June
				30, 2014
	Southeastern Michigan Multi-Family Properties		5.96%	5.96%		Jul-16	$	38,139	$	39,285	$	39,555
	Oakview Plaza		5.49%	5.49%		Jan-17		25,583		26,620		26,814
	Gulf Coast Industrial Portfolio		9.83%	9.83%		Due on demand		51,790		51,790		51,902
	Camden Multi-Family Properties (Two Individual Loans)		5.44%	5.44%		Dec-14		26,334		26,508		26,718
	St. Augustine Outlet Center		6.09%	6.09%		Apr-16		23,748		24,596		24,824
	Gantry Park		Libor + 3.50%	3.93%		Sep-16		44,318		44,318		43,540
	DePaul Plaza		Libor + 3.00%	3.16%		Sep-17		11,147		11,855		11,964
	Courtyard - Parsippany		Libor + 3.50%	3.66%		Aug-18		7,126		7,866		7,947
	Courtyard - Baton Rouge		5.56%	5.56%		May-17		5,873		6,262		6,325
	Residence Inn - Baton Rouge		5.36%	5.36%		Dec-18		2,706		3,832		5,990
	Promissory Note (cross-collateralized by three hotels)		4.94%	4.94%		Aug-18		14,008		15,462		15,622
	Revolving Credit Facility (cross-collateralized by five hotels)		Libor + 4.95%	5.18%		May-16		34,077		34,077		34,077
	Total mortgages payable			5.92%			$	284,849	$	292,471	$	295,278
	Libor as of June 30, 2014 and December 31, 2013 was 0.16% and 0.17%, respectively. Our loans are secured by the indicated real estate and are non-recourse to the Company.
	The following table shows the contractually scheduled principal maturities during the next five years and thereafter as of June 30, 2014 in the Consolidated Balance Sheets:
	Remainder of			2015			2016		2017		2018		Thereafter		Total
	2014
	$	79,532		$	2,581		$	142,286	$	43,651	$	24,421	$	-	$	292,471
	Pursuant to the Company's loan agreements, escrows in the amount of approximately $12.1 million and $11.5 million were held in restricted escrow accounts as of June 30, 2014 and December 31, 2013, respectively. Such escrows will be released in accordance with the applicable loan agreements for payments of real estate taxes, insurance and capital improvement transactions, as required. Certain of our mortgages payable also contain clauses providing for prepayment penalties.
	Certain of the Company's debt agreements require the maintenance of certain ratios, including debt service coverage. The Company believes it is currently in compliance with all of its debt covenants other than the debt associated with the Gulf Coast Industrial Portfolio which was placed in default during 2012 and is due on demand as discussed below.
	As a result of not meeting certain debt service coverage ratios on the non-recourse mortgage indebtedness secured by the Gulf Coast Industrial Portfolio, the lender elected to retain the excess cash flow from these properties beginning in July 2011 until such time as the required coverage ratios are met for two successive quarters.  During the third quarter of 2012, the loan was transferred to a special servicer, who discontinued scheduled debt service payments and notified us that the loan was in default and due on demand.
	Although the lender is currently not charging or being paid interest at the stated default rate, an aggregate $4.0 million of default interest has been accrued through June 30, 2014 pursuant to the terms of the loan agreement. Default interest of $0.6 million and $1.1 million was accrued for the three and six months ended June 30, 2014 and default interest of $0.5 million and $1.1 million was accrued and for the three and six months ended June 30, 2013. As a result, accrued default interest of approximately $4.0 million and $2.9 million is included in accounts payable, accrued expenses and other liabilities on our consolidated balance sheets as of June 30, 2014 and December 31, 2013, respectively.  We are currently engaged in discussions with the special servicer to restructure the loan and do not expect to pay the default interest as this mortgage indebtedness is non-recourse to us.  We believe the continued loss of excess cash flow from these properties and the placement of the non-recourse mortgage indebtedness in default will not have a material impact on our results of operations or financial position.

Assets_and_Liabilities_Held_fo

Assets and Liabilities Held for Sale, Assets and Liabilities Disposed of and Discontinued Operations	6 Months Ended
	Jun. 30, 2014
Assets and Liabilities Held for Sale, Assets and Liabilities Disposed of and Discontinued Operations [Abstract]	'
Assets and Liabilities Held for Sale, Assets and Liabilities Disposed of and Discontinued Operations	'
	6	Assets and Liabilities Held for Sale, Assets and Liabilities Disposed of and Discontinued Operations
	During the year ended December 31, 2013 the Company disposed of the Houston Extended Stay Hotels and Everson Pointe for approximately $27.0 million. In connection with the disposition, the Company repaid in full the then outstanding mortgage indebtedness of approximately $11.1 million. The operating results of the Houston Extended Stay Hotels and Everson Pointe, through their respective dates of disposition, have been classified as discontinued operations in the consolidated statements of operations for all periods presented. These transactions resulted in a fourth quarter aggregate gain on disposition of $2.0 million.
	During the fourth quarter of 2013, Crowe's Crossing met the criteria to be classified as held for sale. The operating results of Crowe's Crossing have been classified as discontinued operations in the consolidated statements of operations for all periods presented.  Additionally, the associated assets and liabilities of Crowe's Crossing are classified as held for sale in the consolidated balance sheet as of December 31, 2013.
	On January 22, 2014 the Company disposed of Crowe's Crossing for approximately $9.3 million. In connection with the disposition, the Company repaid in full the then outstanding mortgage indebtedness of approximately $5.8 million, which was scheduled to mature in September 2015. The Company recognized a gain on disposition of approximately $1.6 million, which is included in discontinued operations during the three months ended June 30, 2014.
	During the second quarter of 2014, our industrial property located in Sarasota, Florida ("Sarasota") met the criteria to be classified as held for sale and the Company recorded an estimated loss on the disposition of real estate of approximately $2.4 million. The estimated loss was based on the initial contractual purchase price less estimated closing costs. Sarasota was subsequently disposed of on July 31, 2014 for approximately $5.3 million. Any adjustment to the estimated loss will be recorded during the third quarter of 2014. As disclosed in Note 1, during the second quarter of 2014 the Company adopted an accounting standards update that provided new guidance on the requirements for reporting a discontinued operation. The disposal of Sarasota does not qualify to be reported as a discontinued operation. Additionally, because Sarasota's associated assets and liabilities of $5.3 million and $0.1 million, respectively, were not material, the Company did not classify them as held for sale in the consolidated balance sheet as of June 30, 2014.
	The following summary presents the operating results of the Houston Extended Stay Hotels, Everson Pointe and Crowe's Crossing included in discontinued operations in the Consolidated Statements of Operations for the periods indicated.
			For the Three Months Ended June 30,					For the Six Months Ended June 30,
			2014		2013			2014			2013
	Revenues		$	-	$	1,676		$	58		$	3,149
	Operating expenses			-		1,048			29			2,142
	Operating income			-		628			29			1,007
	Interest expense and other, net			-		(250	)		(19	)		(504	)
	Gain on disposition			-		-			1,610			-
	Net income from discontinued operations		$	-	$	378		$	1,620		$	503
	Cash flows generated from discontinued operations are presented separately on the Company's consolidated statements of cash flows.
	The following summary presents the major components of assets and liabilities held for sale, of as the date indicated.
			As of
			31-Dec-13
	Net investment property		$	6,622
	Intangible assets, net			525
	Other assets			562
	Total assets held for sale		$	7,709
	Mortgages payable		$	5,834
	Accounts payable and accrued expenses			41
	Other liabilities			238
	Total liabilities held for sale		$	6,113

Net_Earnings_Per_Share

Net Earnings Per Share	6 Months Ended
	Jun. 30, 2014
Net Earnings Per Share [Abstract]	'
Net Earnings Per Share	'
	7	Net Earnings Per Share
	Basic net earnings per share is calculated by dividing net income attributable to common shareholders by the weighted-average number of shares of common stock outstanding during the applicable period. Diluted net income per share includes the potentially dilutive effect, if any, which would occur if our outstanding options to purchase our common stock were exercised. For all periods presented, the effect of these exercises, if any, was insignificant and, therefore, diluted net income per share is equivalent to basic net income per share.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	8	Related Party Transactions
	The Company has agreements with the Advisor and Lightstone Value Plus REIT Management LLC (the "Property Manager") to pay certain fees in exchange for services performed by these entities and other affiliated entities. The Company's ability to secure financing and subsequent real estate operations are dependent upon its Advisor, Property Manager and their affiliates to perform such services as provided in these agreements.
	The Company, pursuant to the related party arrangements, has recorded the following amounts for the periods indicated:
			Three Months Ended June 30,				Six Months Ended June 30,
			2014		2013		2014		2013
	Acquisition fees		$	27	$	940	$	59	$	1,256
	Asset management fees			711		637		1,424		1,258
	Property management fees			341		433		689		855
	Development fees and leasing commissions			241		415		405		789
	Total		$	1,320	$	2,425	$	2,577	$	4,158
	Lightstone SLP, LLC, an affiliate of the Company's Sponsor, has purchased subordinated profits interests in the Operating Partnership ("SLP units"). These SLP units, the purchase price of which will be repaid only after stockholders receive a stated preferred return and their net investment, entitle Lightstone SLP, LLC to a portion of any regular distributions made by the Operating Partnership.
	During the three and six months ended June 30, 2014, distributions of $0.5 million and $1.0 million were declared and paid on the SLP units and are part of noncontrolling interests. Since inception through June 30, 2014, cumulative distributions declared were $13.9 million, of which $13.4 million were paid. See Note 3 for other related party transactions.
	Preferred Investment
	On March 7, 2014, the Company entered into an agreement with various related party entities pursuant to which it committed to make contributions of up to $35.0 million, with an additional contribution of up to $10.0 million subject to the satisfaction of certain conditions, in an affiliate of its Sponsor which owns a parcel of land located at 365 Bond Street in Brooklyn, New York on which it is constructing a residential apartment project.  These contributions are made pursuant to an instrument, the "Preferred Investment," that is entitled to monthly preferred distributions at a rate of 12% per annum, is redeemable by the Company upon the occurrence of certain events, is classified as a held-to-maturity security and is recorded at cost.
	The Company commenced making contributions during the second quarter of 2014 and as of June 30, 2014, the Preferred Investment had a balance of approximately $21.8 million and is classified as investment in affiliate on the consolidated balance sheet.  During the second quarter, the Company recorded approximately $409 of dividend income related to the Preferred Investment, which is included in interest and dividend income on the consolidated statement of operations, and accrued dividends receivable related to the Preferred Investment, which is included in prepaid expenses and other assets on the consolidated balance sheet, was approximately $215 as of June 30, 2014.

Financial_Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2014
Financial Instruments [Abstract]	'
Financial Instruments	'
	9	Financial Instruments
	The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, restricted escrows, tenants' accounts receivable, accounts payable and accrued expenses and the notes payable approximated their fair values because of the short maturity of these instruments. The carrying amount reported in the consolidated balance sheets for the mortgage receivable approximated its fair value based upon current market information that would have been used by a market participant to estimate the fair value of such loan.
	The estimated fair value (in millions) of the Company's mortgage debt is summarized as follows:
			As of June 30, 2014				As of December 31, 2013
			Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	Mortgages payable		$	292.5	$	291.6	$	295.3	$	292.8
	The fair value of the mortgages payable was determined by discounting the future contractual interest and principal payments by estimated current market interest rates.

Segment_Information

Segment Information	6 Months Ended
	Jun. 30, 2014
Segment Information [Abstract]	'
Segment Information	'
	10	Segment Information
	The Company currently operates in four business segments as of June 30, 2014: (i) retail real estate (the "Retail Segment"), (ii) multi-family residential real estate (the "Multi-family Residential Segment"), (iii) industrial real estate (the "Industrial Segment") and (iv) hospitality (the "Hospitality Segment"). The Company's advisor and its affiliates provide leasing, property and facilities management, acquisition, development, construction and tenant-related services for its portfolio. The Company's revenues for the three and six months ended June 30, 2014 and 2013 were exclusively derived from activities in the United States. No revenues from foreign countries were received or reported. The Company had no long-lived assets in foreign locations as of June 30, 2014 and December 31, 2013. The accounting policies of the segments are the same as those described in Note 2: Summary of Significant Accounting Policies of the Company's December 31, 2013 Annual Report on Form 10-K. Unallocated assets, revenues and expenses relate to corporate related accounts.
	The Company evaluates performance based upon net operating income/(loss) from the combined properties in each real estate segment.
	As discussed in Note 6, the results of operations presented below exclude the Houston Extended Stay Hotels, Everson Pointe and Crowe's Crossing due to their classification as discontinued operations for all periods presented. The Houston Extended Stay Hotels were previously included in the Company's hospitality segment and Everson Pointe and Crowe's Crossing were previously included in the Company's retail segment.
	Selected results of operations for the three and six months ended June 30, 2014 and 2013, and total assets as of June 30, 2014 and December 31, 2013 regarding the Company's operating segments are as follows:
			For the Three Months Ended June 30, 2014
			Retail			Multi-Family		Industrial			Hospitality		Unallocated			Total
	Total revenues		$	2,701		$	5,295	$	1,898		$	14,533	$	-		$	24,427
	Property operating expenses			860			1,778		520			10,071		-			13,229
	Real estate taxes			48			335		209			461		-			1,053
	General and administrative costs			(21	)		58		1			144		1,334			1,516
	Net operating income/(loss)			1,814			3,124		1,168			3,857		(1,334	)		8,629
	Depreciation and amortization			1,063			1,046		453			1,657		-			4,219
	Operating income/(loss)		$	751		$	2,078	$	715		$	2,200	$	(1,334	)	$	4,410
	As of June 30, 2014:
	Total Assets		$	105,236		$	145,847	$	57,958		$	153,499	$	210,292		$	672,832
			For the Three Months Ended June 30, 2013
			Retail			Multi-Family		Industrial			Hospitality		Unallocated			Total
	Total revenues		$	2,944			3,274		1,853			9,726		-		$	17,797
	Property operating expenses			760			1,415		455			7,134		3			9,767
	Real estate taxes			328			311		197			360		-			1,196
	General and administrative costs			23			63		19			56		2,829			2,990
	Net operating income/(loss)			1,833			1,485		1,182			2,176		(2,832	)		3,844
	Depreciation and amortization			982			441		463			565		-			2,451
	Operating income/(loss)		$	851		$	1,044	$	719		$	1,611	$	(2,832	)	$	1,393
	As of December 31, 2013:
	Total Assets		$	114,817		$	145,582	$	59,937		$	150,923	$	206,502		$	677,761
			For the Six Months Ended June 30, 2014
			Retail			Multi Family		Industrial			Hospitality		Unallocated			Total
	Total revenues		$	5,553		$	10,214	$	3,776		$	27,084	$	-		$	46,627
	Property operating expenses			1,627			3,730		1,032			19,354		1			25,744
	Real estate taxes			387			680		418			920		-			2,405
	General and administrative costs			(1	)		153		(55	)		311		2,891			3,299
	Net operating income/(loss)			3,540			5,651		2,381			6,499		(2,892	)		15,179
	Depreciation and amortization			2,025			2,069		912			3,183		-			8,189
	Operating income/(loss)		$	1,515		$	3,582	$	1,469		$	3,316	$	(2,892	)	$	6,990
			For the Six Months Ended June 30, 2013
			Retail			Multi Family		Industrial			Hospitality		Unallocated			Total
	Total revenues		$	5,896		$	6,509	$	3,577		$	16,482	$	-		$	32,464
	Property operating expenses			1,538			2,866		905			13,108		6			18,423
	Real estate taxes			672			497		397			667		-			2,233
	General and administrative costs			20			119		12			126		4,950			5,227
	Net operating income/(loss)			3,666			3,027		2,263			2,581		(4,956	)		6,581
	Depreciation and amortization			1,982			873		916			1,044		-			4,815
	Operating income/(loss)		$	1,684		$	2,154	$	1,347		$	1,537	$	(4,956	)	$	1,766

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies	'
	11	Commitments and Contingencies
	Legal Proceedings
	From time to time in the ordinary course of business, the Company may become subject to legal proceedings, claims or disputes.
	On January 4, 2007, 1407 Broadway Real Estate LLC ("Office Owner"), an indirect, wholly owned subsidiary of 1407 Broadway Mezz II LLC ("1407 Broadway "), consummated the acquisition of a sub-leasehold interest (the "Sublease Interest") in an office building located at 1407 Broadway, New York, New York (the "Office Property"). 1407 Broadway is a joint venture between LVP 1407 Broadway LLC ("LVP LLC"), a wholly owned subsidiary of our operating partnership, and Lightstone 1407 Manager LLC ("Manager"), which is wholly owned by David Lichtenstein, the Chairman of our Board of Directors and our Chief Executive Officer, and Shifra Lichtenstein, his wife.
	The Sublease Interest was acquired pursuant to a Sale and Purchase of Leasehold Agreement with Gettinger Associates, L.P. ("Gettinger"). In July 2006, Abraham Kamber Company, as Sublessor under the sublease ("Sublessor"), served two notices of default on Gettinger (the "Default Notices"). The first alleged that Gettinger had failed to satisfy its obligations in performing certain renovations and the second asserted numerous defaults relating to Gettinger's purported failure to maintain the Office Property in compliance with its contractual obligations.
	In response to the Default Notices, Gettinger commenced legal action and obtained an injunction that extends its time to cure any default, prohibits interference with its leasehold interest and prohibits Sublessor from terminating its sublease pending resolution of the litigation. A motion by Sublessor for partial summary judgment, alleging that certain work on the Office Property required its prior approval, was denied by the Supreme Court, New York County. Subsequently, by agreement of the parties, a stay was entered precluding the termination of the Sublease Interest pending a final decision on Sublessor's claim of defaults under the Sublease Interest. In addition, the parties stipulated to the intervention of Office Owner as a party to the proceedings.
	On April 12, 2012, the Supreme Court, New York County decided in favor of the Company with respect to all matters before the Court. Sublessor filed a Notice of Appeal on June 7, 2012 and, after fully briefing the issues, the parties argued the appeal on January 30, 2013.  On February 21, 2013, the Appellate Division, First Department rendered its decision largely affirming the lower court's determination.  The Appellate Division did determine that there were two 2007 defaults that had not been cured and that the assignment of the sublease had occurred at a time when defaults existed.  The Appellate Division determined that the remedy for such defaults was not a forfeiture of the sublease.  Instead, the Appellate Division remanded to the lower court with direction that the lower court fashion a remedy short of forfeiture.  Recently, the Sublessor has sent a letter claiming that the Appellate Division order "lifted" the Yellowstone Injunction, a procedure in New York law whereby a tenant in a commercial premises has a right to stay the time to cure, and demanding a cure within thirty (30) days. We have rejected that claim because the Appellate Division decision expressly remanded the case with a direction that the Supreme Court fashion a remedy other than forfeiture of the alleged defaults, and requested a conference from the lower court. On December 10, 2013, the parties appeared before Justice James and engaged in oral argument. The court determined that Kamber failed to provide evidence of its losses relating to the prior defaults or prohibited assignment, and therefore, only nominal damages should be awarded. However, the court provided that Kamber receive one month's ground rent plus interest accrued from 2007, an amount totaling over $1 million and a clear disconnect from the court's intent to award "nominal" damages. The Company filed a motion requesting that the court reconsider its award based on the court's own premise of nominal damages.
	On July 13, 2011, JF Capital Advisors, filed a lawsuit against The Lightstone Group, LLC, the Company, and Lightstone Value Plus Real Estate Investment Trust II, Inc. in the Supreme Court of the State of New York seeking payment for services alleged to have been rendered, and to be rendered prospectively, under theories of unjust enrichment and breach of contract. The plaintiff had a limited business arrangement with The Lightstone Group, LLC; that arrangement has been terminated. We filed a motion to dismiss the action and, on January 31, 2012, the Supreme Court dismissed the complaint in its entirety, but granted the plaintiff leave to replead two limited causes of action.
	The plaintiff filed an amended complaint on May 18, 2012, bringing limited claims under theories of unjust enrichment and quantum meruit. On November 21, 2012, the court dismissed this second complaint in part, leaving only $164 (plus interest) in potential damages. The plaintiff appealed this decision and Lightstone cross-appealed arguing that the case should have been dismissed in full. The appeals court denied plaintiff's motion and granted defendants' motion, as a result of which all claims were dismissed on March 25, 2014. The plaintiff filed a motion requesting the right to re-appeal to the Court of Appeals, which was granted on August 1, 2014. Lightstone continues to believe that these claims to be without merit and will defend the case vigorously.
	While any proceeding or litigation has an element of uncertainty, management currently believes that the likelihood of an unfavorable outcome with respect to any of the aforementioned legal proceedings is remote. No provision for loss has been recorded in connection therewith.
	As of the date hereof, the Company is not a party to any material pending legal proceedings of which the outcome is probable or reasonably possible to have a material adverse effect on its results of operations or financial condition, which would require accrual or disclosure of the contingency and possible range of loss.
	Outlet Centers Transactions
	The Company previously held ownership interests in GPH and Livermore Valley Holdings LLC ("LVH"). On December 4, 2012, GPH, LVH and certain of their subsidiaries (collectively, the "Holding Entities") completed the disposition of their ownership interests in an outlet center located in Grand Prairie, Texas (the "Grand Prairie Outlet Center"), an outlet center located in Livermore, California (the "Livermore Valley Outlet Center") and a parcel of land adjacent to the Livermore Outlet Center (the "Livermore Land Parcel" and collectively, the "Outlet Centers Transactions") to Simon and certain of its affiliates (collectively, the "Simon Parties"). Pursuant to the terms of the Outlet Centers Transactions, the aggregate consideration received at closing is subject to certain true-ups and adjustments, including a final valuation of the Grand Prairie Outlet Center and the Livermore Valley Outlet Center, based on their aggregate net operating income, as defined, during calendar year 2013. Furthermore, the Holding Entities, subject to the satisfaction of certain conditions, may (i) receive $5.0 million of additional consideration for the Livermore Land Parcel or (ii) elect to repurchase the Livermore Land Parcel for $35.0 million. During the first quarter of 2013, the Holding Entities received an additional $3.0 million, of which the Company's share was $1.2 million, related to the disposition of its ownership interest in the Grand Prairie Outlet Center resulting from the satisfaction of certain conditions. All remaining true-ups and adjustments are now expected to be finalized and paid in the third quarter of 2014 along with the additional consideration for the Livermore Land Parcel and the Company expects to record an additional gain on the disposition of real estate for its pro rata share of such items.
	Loan Collection Guaranties
	The Operating Partnership and PRO (collectively, the "LVP Parties") have provided and will continue to have the opportunity to provide guaranties of collection (the "Loan Collection Guaranties") with respect to draws made under revolving credit facilities (or indebtedness incurred to refinance the revolving credit facilities) by Simon in connection with the closing of certain contribution transactions related to the LVP Parties' ownership interests in (i) Mill Run LLC ("Mill Run") and Prime Outlets Acquisition Company ("POAC" and collectively, the "POAC/Mill Run Transaction") and (ii) GPH and LVH, . The Loan Collection Guaranties are required for at least four years following the closings of POAC/Mill Run Transaction and the Outlet Centers Transaction, which closed on August 30, 2010 and December 4, 2012, respectively. Under the terms of the Loan Collection Guaranties, the LVP Parties are obligated to make payments in respect of principal and interest due under the revolving credit facilities after Simon OP has failed to make payments, the amounts outstanding under the revolving credit facilities have been accelerated, and the lender have failed to collect the full amounts outstanding under the revolving credit facilities after exhausting other remedies. The maximum amounts of the Loan Collection Guaranties will be reduced by the extent of any payments of principal made by Simon OP or other cash proceeds recovered by the lenders.

Subsequent_Events

Subsequent Events	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	12. Subsequent Events
	Distribution Payment
	On July 15, 2014, the distribution for the three-month period ending June 30, 2014 of approximately $4.5 million was paid in full using a combination of cash and approximately 0.1 million shares of the Company's common stock issued pursuant to the Company's Distribution Reinvestment Program ("DRIP"), at a discounted price of $11.21 per share. The distribution was paid from cash flows provided from operations (approximately $3.1 million or 68%) and excess cash proceeds from the issuance of common stock through the Company's DRIP (approximately $1.4 million or 32%).
	Distribution Declaration
	On August 8, 2014, the Board authorized and the Company declared a distribution for the three-month period ending September 30, 2014. The distribution will be calculated based on shareholders of record each day during this three-month period at a rate of $0.0019178 per day, and will equal a daily amount that, if paid each day for a 365-day period, would equal a 7.0% annualized rate based on a share price of $10.00. The distribution will be paid in cash on October 15, 2014 to shareholders of record as of September 30, 2014. The shareholders have an option to elect the receipt of shares under the Company's DRIP.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The consolidated financial statements include the accounts of the Lightstone REIT and its Operating Partnership and its subsidiaries (over which the Company exercises financial and operating control). All inter-company balances and transactions have been eliminated in consolidation.
	The accompanying unaudited interim consolidated financial statements and related notes should be read in conjunction with the audited Consolidated Financial Statements of the Company and related notes as contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013. The unaudited interim consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary in the judgment of management for a fair statement of the results for the periods presented. The accompanying unaudited consolidated financial statements of Lightstone Value Plus Real Estate Investment Trust, Inc. and its Subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.
	The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate, depreciable lives, and revenue recognition. Application of these assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates.
	The consolidated balance sheet as of December 31, 2013 included herein has been derived from the consolidated balance sheet included in the Company's Annual Report on Form 10-K.
	The unaudited consolidated statements of operations for interim periods are not necessarily indicative of results for the full year or any other period.
Pro Forma Financial Information	'
	Pro Forma Financial Information
	The following table provides unaudited pro forma results of operations for the period indicated, as if the acquisitions that the Company made in 2013 (the Holiday Inn Express - Auburn, the Courtyard - Baton Rouge, the Residence Inn - Baton Rouge, the Aloft - Rogers, the Fairfield Inn - Jonesboro, the Hampton Inn - Miami and the Hampton Inn & Suites - Fort Lauderdale) had been acquired on January 1, 2013. Such pro forma results are not necessarily indicative of the results that actually would have occurred had these acquisitions been completed on January 1, 2013, nor are they indicative of the future operating results of the combined company.
		For the Three Months		For the Six Months
		Ended June 30, 2013		Ended June 30, 2013
	Pro forma rental revenue	$	21,551	$	40,583
	Pro forma net income	$	15,438	$	13,769
	Pro forma net income per Company's common share, basic and diluted	$	0.51	$	0.46
Reclassifications	'
	Reclassifications
	Certain prior period amounts may have been reclassified to conform to the current year presentation.
New Accounting Pronouncements	'
	New Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board issued an accounting standards update providing new guidance on the requirements for reporting discontinued operations. The update changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This update is effective for fiscal years beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in the financial statements previously issued or available for issuance.  The Company adopted this standard during the quarter ended June 30, 2014. The adoption of this standards update affects presentation only and, as such, will not have a material impact on the Company's consolidated financial statements.
	In May 2014, the FASB issued an accounting standards update that completes the joint effort by the FASB and International Accounting Standards Board to improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards. The update applies to all companies that enter into contracts with customers to transfer goods or services and is effective for us for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted and companies have the choice to apply the update either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying the update at the date of initial application (January 1, 2017) and not adjusting comparative information. The Company is currently evaluating the requirements and impact of this update on its consolidated financial statements.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
Schedule of Pro Forma Financial Information	'
	The following table provides unaudited pro forma results of operations for the period indicated, as if the acquisitions that the Company made in 2013 (the Holiday Inn Express - Auburn, the Courtyard - Baton Rouge, the Residence Inn - Baton Rouge, the Aloft - Rogers, the Fairfield Inn - Jonesboro, the Hampton Inn - Miami and the Hampton Inn & Suites - Fort Lauderdale) had been acquired on January 1, 2013. Such pro forma results are not necessarily indicative of the results that actually would have occurred had these acquisitions been completed on January 1, 2013, nor are they indicative of the future operating results of the combined company.
		For the Three Months		For the Six Months
		Ended June 30, 2013		Ended June 30, 2013
	Pro forma rental revenue	$	21,551	$	40,583
	Pro forma net income	$	15,438	$	13,769
	Pro forma net income per Company's common share, basic and diluted	$	0.51	$	0.46

Investment_in_Unconsolidated_A1

Investment in Unconsolidated Affiliated Real Estate Entity (Tables)	6 Months Ended
	Jun. 30, 2014
Investments in Unconsolidated Affiliated Entity	'
	A summary of the Company's investment in unconsolidated affiliated real estate entity is as follows:
								As of
	Real Estate Entity	Date Acquired		Ownershipw %				30-Jun-14				31-Dec-13
	1407 Broadway Mezz II, LLC ("1407 Broadway")	4-Jan-07			49	%		$	8,808			$	9,496
1407 Broadway [Member]	'
Unaudited Condensed Income Statement	'
	The following table represents the unaudited condensed income statement for 1407 Broadway:
		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2014				2013				2014				2013
	Total revenue	$	9,900			$	9,256			$	19,882			$	18,943
	Property operating expenses		7,041				6,602				15,049				13,828
	Depreciation and amortization		1,745				1,385				3,411				2,775
	Operating income		1,114				1,269				1,422				2,340
	Interest expense and other, net		(1,165	)			(681	)			(1,874	)			(2,871	)
	Gain on debt extinguishment		-				-				-				7,494
	Net (loss)/income	$	(51	)		$	588			$	(452	)		$	6,963
	Company's share of net income/(loss) (49%)	$	33			$	288			$	(102	)		$	(1,798	)
	* The six months ended June 30, 2013 includes an adjustment of $5,210 for previously unrecorded losses.
Unaudited Condensed Balance Sheet	'
	The following table represents the unaudited condensed balance sheet for 1407 Broadway:
		As of				As of
		30-Jun-14				31-Dec-13
	Real estate, at cost (net)	$	119,581			$	114,188
	Intangible assets		55				249
	Cash and restricted cash		10,916				18,437
	Other assets		20,879				19,969
	Total assets	$	151,431			$	152,843
	Mortgage payable	$	126,000			$	126,000
	Other liabilities		13,542				14,503
	Member capital		11,889				12,340
	Total liabilities and members' capital	$	151,431			$	152,843

Marketable_Securities_and_Fair1

Marketable Securities and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of Available for Sale Securities	'
	The following is a summary of the Company's available for sale securities as of the dates indicated:
		As of June 30, 2014
		Adjusted Cost		Gross Unrealized Gains		Gross Unrealized			Fair Value
						Losses
	Equity Securities, primarily REITs	$	1,405	$	216	$	-		$	1,621
	Marco OP Units and Marco II OP Units		51,970		52,239		-			104,209
	Corporate Bonds and Preferred Equities		40,068		1,778		(276	)		41,570
	Mortgage Backed Securities ("MBS")		6,210		-		(246	)		5,964
	Total	$	99,653	$	54,233	$	(522	)	$	153,364
		As of December 31, 2013
		Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	Equity Securities, primarily REITs	$	10,059	$	555	$	-		$	10,614
	Marco OP Units and Marco II OP Units		51,970		37,736		-			89,706
	Corporate Bonds and Preferred Equities		39,576		675		(1,307	)		38,944
	Mortgage Backed Securities ("MBS")		7,352		-		(233	)		7,119
	Total	$	108,957	$	38,966	$	(1,540	)	$	146,383
Marketable Securities, Available for Sale, and Derivative Financial Instruments Measured at Fair Value on Recurring Basis	'
	Marketable securities, available for sale, measured at fair value on a recurring basis as of the dates indicated are as follows:
		Fair Value Measurement Using
	As of June 30, 2014	Level 1		Level 2		Level 3			Total
	Marketable Securities:
	Equity Securities, primarily REITs	$	1,621	$	-	$	-		$	1,621
	Marco OP and OP II Units		-		104,209		-			104,209
	Corporate Bonds and Preferred Equities		-		41,570		-			41,570
	MBS		-		5,964		-			5,964
	Total	$	1,621	$	151,743	$	-		$	153,364
		Fair Value Measurement Using
	As of December 31, 2013	Level 1		Level 2		Level 3			Total
	Marketable Securities:
	Equity Securities, primarily REITs	$	10,614	$	-	$	-		$	10,614
	Marco OP and OP II Units		-		89,706		-			89,706
	Corporate Bonds and Preferred Equities		-		38,944		-			38,944
	MBS		-		7,119		-			7,119
	Total	$	10,614	$	135,769	$	-		$	146,383

Mortgages_Payable_Tables

Mortgages Payable (Tables)	6 Months Ended
	Jun. 30, 2014
Mortgages Payable [Abstract]	'
Schedule of Mortgages Payable	'
	Mortgages payable consists of the following:
									Loan Amount as of
	Property		Interest Rate	Weighted		Maturity Date	Amount Due at		30-Jun-14		December 31,
				Average Interest			Maturity				2013
				Rate as of June
				30, 2014
	Southeastern Michigan Multi-Family Properties		5.96%	5.96%		Jul-16	$	38,139	$	39,285	$	39,555
	Oakview Plaza		5.49%	5.49%		Jan-17		25,583		26,620		26,814
	Gulf Coast Industrial Portfolio		9.83%	9.83%		Due on demand		51,790		51,790		51,902
	Camden Multi-Family Properties (Two Individual Loans)		5.44%	5.44%		Dec-14		26,334		26,508		26,718
	St. Augustine Outlet Center		6.09%	6.09%		Apr-16		23,748		24,596		24,824
	Gantry Park		Libor + 3.50%	3.93%		Sep-16		44,318		44,318		43,540
	DePaul Plaza		Libor + 3.00%	3.16%		Sep-17		11,147		11,855		11,964
	Courtyard - Parsippany		Libor + 3.50%	3.66%		Aug-18		7,126		7,866		7,947
	Courtyard - Baton Rouge		5.56%	5.56%		May-17		5,873		6,262		6,325
	Residence Inn - Baton Rouge		5.36%	5.36%		Dec-18		2,706		3,832		5,990
	Promissory Note (cross-collateralized by three hotels)		4.94%	4.94%		Aug-18		14,008		15,462		15,622
	Revolving Credit Facility (cross-collateralized by five hotels)		Libor + 4.95%	5.18%		May-16		34,077		34,077		34,077
	Total mortgages payable			5.92%			$	284,849	$	292,471	$	295,278
	Libor as of June 30, 2014 and December 31, 2013 was 0.16% and 0.17%, respectively. Our loans are secured by the indicated real estate and are non-recourse to the Company.
Contractually Scheduled Principal Maturities During Next Five Years	'
	The following table shows the contractually scheduled principal maturities during the next five years and thereafter as of June 30, 2014 in the Consolidated Balance Sheets:
	Remainder of			2015			2016		2017		2018		Thereafter		Total
	2014
	$	79,532		$	2,581		$	142,286	$	43,651	$	24,421	$	-	$	292,471

Assets_and_Liabilities_Held_fo1

Assets and Liabilities Held for Sale, Assets and Liabilities Disposed of and Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2014
Assets and Liabilities Held for Sale, Assets and Liabilities Disposed of and Discontinued Operations [Abstract]	'
Schedule of Discontinued Operations	'
	The following summary presents the operating results of the Houston Extended Stay Hotels, Everson Pointe and Crowe's Crossing included in discontinued operations in the Consolidated Statements of Operations for the periods indicated.
		For the Three Months Ended June 30,					For the Six Months Ended June 30,
		2014		2013			2014			2013
	Revenues	$	-	$	1,676		$	58		$	3,149
	Operating expenses		-		1,048			29			2,142
	Operating income		-		628			29			1,007
	Interest expense and other, net		-		(250	)		(19	)		(504	)
	Gain on disposition		-		-			1,610			-
	Net income from discontinued operations	$	-	$	378		$	1,620		$	503
	Cash flows generated from discontinued operations are presented separately on the Company's consolidated statements of cash flows.
	The following summary presents the major components of assets and liabilities held for sale, of as the date indicated.
		As of
		31-Dec-13
	Net investment property	$	6,622
	Intangible assets, net		525
	Other assets		562
	Total assets held for sale	$	7,709
	Mortgages payable	$	5,834
	Accounts payable and accrued expenses		41
	Other liabilities		238
	Total liabilities held for sale	$	6,113

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Amount Recorded Pursuant to Related Party Arrangments	'
	The Company, pursuant to the related party arrangements, has recorded the following amounts for the periods indicated:
		Three Months Ended June 30,				Six Months Ended June 30,
		2014		2013		2014		2013
	Acquisition fees	$	27	$	940	$	59	$	1,256
	Asset management fees		711		637		1,424		1,258
	Property management fees		341		433		689		855
	Development fees and leasing commissions		241		415		405		789
	Total	$	1,320	$	2,425	$	2,577	$	4,158

Financial_Instruments_Tables

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2014
Financial Instruments [Abstract]	'
Summary of Estimated Fair Value of Debt	'
	The estimated fair value (in millions) of the Company's mortgage debt is summarized as follows:
		As of June 30, 2014				As of December 31, 2013
		Carrying Amount		Estimated Fair		Carrying Amount		Estimated Fair
				Value				Value
	Mortgages payable	$	292.5	$	291.6	$	295.3	$	292.8

Segment_Information_Tables

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Information [Abstract]	'
Results of Operations and Total Assets of Operating Segments	'
	Selected results of operations for the three and six months ended June 30, 2014 and 2013, and total assets as of June 30, 2014 and December 31, 2013 regarding the Company's operating segments are as follows:
		For the Three Months Ended June 30, 2014
		Retail			Multi-Family		Industrial			Hospitality		Unallocated			Total
	Total revenues	$	2,701		$	5,295	$	1,898		$	14,533	$	-		$	24,427
	Property operating expenses		860			1,778		520			10,071		-			13,229
	Real estate taxes		48			335		209			461		-			1,053
	General and administrative costs		(21	)		58		1			144		1,334			1,516
	Net operating income/(loss)		1,814			3,124		1,168			3,857		(1,334	)		8,629
	Depreciation and amortization		1,063			1,046		453			1,657		-			4,219
	Operating income/(loss)	$	751		$	2,078	$	715		$	2,200	$	(1,334	)	$	4,410
	As of June 30, 2014:
	Total Assets	$	105,236		$	145,847	$	57,958		$	153,499	$	210,292		$	672,832
		For the Three Months Ended June 30, 2013
		Retail			Multi-Family		Industrial			Hospitality		Unallocated			Total
	Total revenues	$	2,944			3,274		1,853			9,726		-		$	17,797
	Property operating expenses		760			1,415		455			7,134		3			9,767
	Real estate taxes		328			311		197			360		-			1,196
	General and administrative costs		23			63		19			56		2,829			2,990
	Net operating income/(loss)		1,833			1,485		1,182			2,176		(2,832	)		3,844
	Depreciation and amortization		982			441		463			565		-			2,451
	Operating income/(loss)	$	851		$	1,044	$	719		$	1,611	$	(2,832	)	$	1,393
	As of December 31, 2013:
	Total Assets	$	114,817		$	145,582	$	59,937		$	150,923	$	206,502		$	677,761
		For the Six Months Ended June 30, 2014
		Retail			Multi Family		Industrial			Hospitality		Unallocated			Total
	Total revenues	$	5,553		$	10,214	$	3,776		$	27,084	$	-		$	46,627
	Property operating expenses		1,627			3,730		1,032			19,354		1			25,744
	Real estate taxes		387			680		418			920		-			2,405
	General and administrative costs		(1	)		153		(55	)		311		2,891			3,299
	Net operating income/(loss)		3,540			5,651		2,381			6,499		(2,892	)		15,179
	Depreciation and amortization		2,025			2,069		912			3,183		-			8,189
	Operating income/(loss)	$	1,515		$	3,582	$	1,469		$	3,316	$	(2,892	)	$	6,990
		For the Six Months Ended June 30, 2013
		Retail			Multi Family		Industrial			Hospitality		Unallocated			Total
	Total revenues	$	5,896		$	6,509	$	3,577		$	16,482	$	-		$	32,464
	Property operating expenses		1,538			2,866		905			13,108		6			18,423
	Real estate taxes		672			497		397			667		-			2,233
	General and administrative costs		20			119		12			126		4,950			5,227
	Net operating income/(loss)		3,666			3,027		2,263			2,581		(4,956	)		6,581
	Depreciation and amortization		1,982			873		916			1,044		-			4,815
	Operating income/(loss)	$	1,684		$	2,154	$	1,347		$	1,537	$	(4,956	)	$	1,766

Organization_Details

Organization (Details) (USD $)

6 Months Ended

0 Months Ended

6 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Dec. 31, 2013

Jan. 02, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Series A Preferred Units [Member]

Retail [Member]

Industrial Properties [Member]

Residential Real Estate [Member]

Hospitality [Member]

Office [Member]

Wholly Owned Properties [Member]

Wholly Owned Properties [Member]

Wholly Owned Properties [Member]

Wholly Owned Properties [Member]

Partially Owned Properties [Member]

Investments in unconsolidated affiliated real estate entities [Member]

Retail [Member]

Industrial Properties [Member]

Residential Real Estate [Member]

Hospitality [Member]

Hospitality [Member]

Office [Member]

properties

properties

property_units

properties

properties

sqft

sqft

sqft

properties

rooms

properties

Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]

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Date of incorporation

8-Jun-04

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'

'

'

'

'

Lightstone REIT, partnership formation date

12-Jun-04

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'

'

'

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'

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General partner ownership interest

98.00%

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'

'

'

'

'

'

'

'

'

Number of properties

'

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'

'

'

'

'

'

3

15

7

12

1

1

Area of real estate space

'

'

'

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700,000

1,300,000

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'

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1,100,000

Property units

'

'

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'

1,784

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'

Number of rooms

'

'

'

'

'

'

'

'

'

'

'

1,557

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'

Occupancy of properties

'

'

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84.50%

85.50%

95.20%

63.90%

79.70%

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'

'

'

'

Average revenue per available room

'

'

'

'

'

'

74.19

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'

'

'

'

'

Number of shares redeemed

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'

50,100

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'

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'

'

'

'

'

Redemption of shares amount

'

'

$50,100

'

'

'

'

'

'

'

'

'

'

'

Preferred shares, shares outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayment of notes receivable from non controlling interests

'

'

$47,400

'

'

'

'

'

'

'

'

'

'

'

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended	6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2013
Summary of Significant Accounting Policies [Abstract]	'	'
Pro forma rental revenue	$21,551	$40,583
Pro forma net income	$15,438	$13,769
Pro forma net income per Company's common share, basic and diluted	$0.51	$0.46

Investment_in_Unconsolidated_A2

Investment in Unconsolidated Affiliated Real Estate Entity (Summary of Company's Investment in Unconsolidated Affiliated Real Estate Entity) (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'
Total investment in unconsolidated affiliated real estate entity	$8,808	$9,496
1407 Broadway Mezz II, LLC [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Date Acquired	4-Jan-07	'
Ownership interest	49.00%	'
Total investment in unconsolidated affiliated real estate entity	$8,808	$9,496

Investment_in_Unconsolidated_A3

Investment in Unconsolidated Affiliated Real Estate Entity (Narrative) (Details) (USD $)	0 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 11, 2013	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Mar. 10, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'
Mortgages payable	'	'	292,471	'	$295,278	'
1407 Broadway Mezz II, LLC [Member]	'	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'
Ownership percentage	'	'	49.00%	'	'	'
Debt payment	1,300	'	'	'	'	'
Mortgages payable	126,000	'	'	'	'	127,300
Debt instrument, maturity date	'	'	12-Jan-23	'	'	'
Capital contributions	'	12,100	'	16,100	16,100	'
Capital reserve account	'	'	'	'	13,500	'
Aggregate unrecorded losses of available-for-sale securities	'	$5,200	'	$5,210	'	'

Investment_in_Unconsolidated_A4

Investment in Unconsolidated Affiliated Real Estate Entity (Unaudited Condensed Income Statement) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'	'
Company's share of net income/(loss) (49%)	$33	$288	($102)	($1,798)
1407 Broadway Mezz II, LLC [Member]	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'
Total revenue	9,900	9,256	19,882	18,943
Property operating expenses	7,041	6,602	15,049	13,828
Depreciation and amortization	1,745	1,385	3,411	2,775
Operating income	1,114	1,269	1,422	2,340
Interest expense and other, net	-1,165	-681	-1,874	-2,871
Gain on debt extinguishment	'	'	'	7,494
Net (loss)/income	-51	588	-452	6,963
Company's share of net income/(loss) (49%)	$33	$288	$102	($1,798)
Ownership percentage	49.00%	'	49.00%	'

Investment_in_Unconsolidated_A5

Investment in Unconsolidated Affiliated Real Estate Entity (Unaudited Condensed Balance Sheet) (Details) (1407 Broadway Mezz II, LLC [Member], USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Schedule Of Condensed Consolidating Balance Sheets [Line Items]	'	'
Equity Method Investment, assets	$151,431	$152,843
Member capital	11,889	12,340
Total liabilities and members' capital	151,431	152,843
Real estate, at cost (net) [Member]	'	'
Schedule Of Condensed Consolidating Balance Sheets [Line Items]	'	'
Equity Method Investment, assets	119,581	114,188
Intangible Assets [Member]	'	'
Schedule Of Condensed Consolidating Balance Sheets [Line Items]	'	'
Equity Method Investment, assets	55	249
Cash and restricted cash [Member]	'	'
Schedule Of Condensed Consolidating Balance Sheets [Line Items]	'	'
Equity Method Investment, assets	10,916	18,437
Other assets [Member]	'	'
Schedule Of Condensed Consolidating Balance Sheets [Line Items]	'	'
Equity Method Investment, assets	20,879	19,969
Mortgage payables [Member]	'	'
Schedule Of Condensed Consolidating Balance Sheets [Line Items]	'	'
Equity Method Investment, liabilities	126,000	126,000
Other liabilities [Member]	'	'
Schedule Of Condensed Consolidating Balance Sheets [Line Items]	'	'
Equity Method Investment, liabilities	$13,542	$14,503

Marketable_Securities_and_Fair2

Marketable Securities and Fair Value Measurements (Marketable Securities) (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'
Adjusted Cost	$99,653	$108,957
Gross Unrealized Gains	54,233	38,966
Gross Unrealized Losses	-522	-1,540
Fair Value	153,364	146,383
Equity Securities, primarily REITs [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Adjusted Cost	1,405	10,059
Gross Unrealized Gains	216	555
Gross Unrealized Losses	'	'
Fair Value	1,621	10,614
Marco OP and OP II Units [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Adjusted Cost	51,970	51,970
Gross Unrealized Gains	52,239	37,736
Gross Unrealized Losses	'	'
Fair Value	104,209	89,706
Corporate Bonds And Preferred Equities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Adjusted Cost	40,068	39,576
Gross Unrealized Gains	1,778	675
Gross Unrealized Losses	-276	-1,307
Fair Value	41,570	38,944
Mortgage Backed Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Adjusted Cost	6,210	7,352
Gross Unrealized Gains	'	'
Gross Unrealized Losses	-246	-233
Fair Value	$5,964	$7,119

Marketable_Securities_and_Fair3

Marketable Securities and Fair Value Measurements (Narrative) (Details) (USD $)	6 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
	Margin Loan [Member]	Margin Loan [Member]	Line of Credit [Member]	Line of Credit [Member]	Mortgage Backed Securities [Member]	Mortgage Backed Securities [Member]	Mortgage Backed Securities [Member]	Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'
Shares of equity securities sold	'	'	'	'	'	'	156,000	'
Gross gains related to sales of securities and early redemptions of MBS	'	'	'	'	($7)	($1,200)	$13,800	$13,800
Available for sale securities debt maturity minimum period	'	'	'	'	'	'	'27 years	'
Available for sale securities debt maturity maximum period	'	'	'	'	'	'	'30 years	'
Debt instrument, interest rate terms	'Libor	'	'Libor	'	'	'	'	'
Debt instrument, interest rate basis point above reference rate	0.85%	'	3.00%	'	'	'	'	'
Debt instrument, interest rate at end of period	1.00%	'	3.15%	'	'	'	'	'
Debt instrument, maturity date	'	'	31-Dec-14	'	'	'	'	'
Margin loan, outstanding	19,400	20,300	'	'	'	'	'	'
Line of credit facility, maximum borrowing capacity	'	'	25,000	'	'	'	'	'
Line of credit facility, amount outstanding	'	'	$19,900	$19,900	'	'	'	'
Line of credit facility, number of Marco OP Units used as collateral	'	'	440,311	'	'	'	'	'

Marketable_Securities_and_Fair4

Marketable Securities and Fair Value Measurements (Marketable Securities, Available for Sale, and Derivative Financial Instruments Measured at Fair Value on Recurring Basis) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	$153,364	$146,383
Equity Securities, primarily REITs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	1,621	10,614
Marco OP and OP II Units [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	104,209	89,706
Corporate Bonds And Preferred Equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	41,570	38,944
MBS [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	5,964	7,119
Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	1,621	10,614
Fair Value, Inputs, Level 1 [Member] | Equity Securities, primarily REITs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	1,621	10,614
Fair Value, Inputs, Level 1 [Member] | Marco OP and OP II Units [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	'	'
Fair Value, Inputs, Level 1 [Member] | Corporate Bonds And Preferred Equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	'	'
Fair Value, Inputs, Level 1 [Member] | MBS [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	'	'
Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	151,743	135,769
Fair Value, Inputs, Level 2 [Member] | Equity Securities, primarily REITs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	'	'
Fair Value, Inputs, Level 2 [Member] | Marco OP and OP II Units [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	104,209	89,706
Fair Value, Inputs, Level 2 [Member] | Corporate Bonds And Preferred Equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	41,570	38,944
Fair Value, Inputs, Level 2 [Member] | MBS [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	5,964	7,119
Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	'	'
Fair Value, Inputs, Level 3 [Member] | Equity Securities, primarily REITs [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	'	'
Fair Value, Inputs, Level 3 [Member] | Marco OP and OP II Units [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	'	'
Fair Value, Inputs, Level 3 [Member] | Corporate Bonds And Preferred Equities [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	'	'
Fair Value, Inputs, Level 3 [Member] | MBS [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Marketable securities, available for sale	'	'

Mortgages_Payable_Schedule_of_

Mortgages Payable (Schedule of Mortgages Payable) (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]	'	'
Weighted Average Interest Rate	5.92%	'
Amount Due at Maturity	$284,849	'
Mortgages payable	292,471	295,278
Southeastern Michigan Multi Family Properties [Member]	'	'
Debt Instrument [Line Items]	'	'
Stated interest rate	5.96%	'
Weighted Average Interest Rate	5.96%	'
Maturity Date	'2016-07	'
Amount Due at Maturity	38,139	'
Mortgages payable	39,285	39,555
Oakview Plaza [Member]	'	'
Debt Instrument [Line Items]	'	'
Stated interest rate	5.49%	'
Weighted Average Interest Rate	5.49%	'
Maturity Date	'2017-01	'
Amount Due at Maturity	25,583	'
Mortgages payable	26,620	26,814
Gulf Coast Industrial Portfolio [Member]	'	'
Debt Instrument [Line Items]	'	'
Stated interest rate	9.83%	'
Weighted Average Interest Rate	9.83%	'
Amount Due at Maturity	51,790	'
Mortgages payable	51,790	51,902
Camden Multi Family Properties [Member]	'	'
Debt Instrument [Line Items]	'	'
Stated interest rate	5.44%	'
Weighted Average Interest Rate	5.44%	'
Maturity Date	'2014-12	'
Amount Due at Maturity	26,334	'
Mortgages payable	26,508	26,718
St Augustine Outlet Center [Member]	'	'
Debt Instrument [Line Items]	'	'
Stated interest rate	6.09%	'
Weighted Average Interest Rate	6.09%	'
Maturity Date	'2016-04	'
Amount Due at Maturity	23,748	'
Mortgages payable	24,596	24,824
Gantry Park [Member]	'	'
Debt Instrument [Line Items]	'	'
Debt instrument, interest rate terms	'Libor + 3.50%	'
Debt instrument, interest rate basis point above reference rate	3.50%	'
Weighted Average Interest Rate	4.08%	'
Maturity Date	'2016-09	'
Amount Due at Maturity	44,318	'
Mortgages payable	44,318	43,540
DePaul Plaza [Member]	'	'
Debt Instrument [Line Items]	'	'
Debt instrument, interest rate terms	'Libor + 3.00%	'
Debt instrument, interest rate basis point above reference rate	3.00%	'
Weighted Average Interest Rate	3.16%	'
Maturity Date	'2017-09	'
Amount Due at Maturity	11,147	'
Mortgages payable	11,855	11,964
Courtyard - Persippany [Member]	'	'
Debt Instrument [Line Items]	'	'
Debt instrument, interest rate terms	'Libor + 3.50%	'
Debt instrument, interest rate basis point above reference rate	3.50%	'
Weighted Average Interest Rate	3.66%	'
Maturity Date	'2018-08	'
Amount Due at Maturity	7,126	'
Mortgages payable	7,866	7,947
Courtyard - Baton Rouge [Member]	'	'
Debt Instrument [Line Items]	'	'
Stated interest rate	5.56%	'
Weighted Average Interest Rate	5.56%	'
Maturity Date	'2017-05	'
Amount Due at Maturity	5,873	'
Mortgages payable	6,262	6,325
Residence Inn - Baton Rouge [Member]	'	'
Debt Instrument [Line Items]	'	'
Stated interest rate	5.36%	'
Weighted Average Interest Rate	5.36%	'
Maturity Date	'2018-12	'
Amount Due at Maturity	2,706	'
Mortgages payable	3,832	5,990
Promissory Note [Member]	'	'
Debt Instrument [Line Items]	'	'
Stated interest rate	4.94%	'
Weighted Average Interest Rate	4.94%	'
Maturity Date	'2018-08	'
Amount Due at Maturity	14,008	'
Mortgages payable	15,462	15,622
Revolving Credit Facility [Member]	'	'
Debt Instrument [Line Items]	'	'
Debt instrument, interest rate terms	'Libor + 4.95 %	'
Debt instrument, interest rate basis point above reference rate	4.95%	'
Weighted Average Interest Rate	5.18%	'
Maturity Date	'2016-05	'
Amount Due at Maturity	34,077	'
Mortgages payable	$34,077	$34,077

Mortgages_Payable_Narrative_De

Mortgages Payable (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Debt Instrument [Line Items]	'	'	'	'	'
Libor rate	0.16%	'	0.16%	'	0.17%
Cash in restricted escrows accounts	$14,447	'	$14,447	'	$20,145
Loan agreements [Member]	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'
Cash in restricted escrows accounts	12,100	'	12,100	'	11,500
Accured default interest payable	4,000	'	4,000	'	2,900
Default interest accrued during period	$600	$500	$1,100	$1,100	'

Mortgages_Payable_Contractuall

Mortgages Payable (Contractually Scheduled Principal Maturities During Next Five Years) (Details) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Mortgages Payable [Abstract]	'
Remainder of 2014	$79,532
2015	2,581
2016	142,286
2017	43,651
2018	24,421
Thereafter	'
Total	$292,471

Assets_and_Liabilities_Held_fo2

Assets and Liabilities Held for Sale, Assets and Liabilities Disposed of and Discontinued Operations (Narrative) (Details) (USD $)	4 Months Ended	6 Months Ended		12 Months Ended	1 Months Ended	3 Months Ended	1 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jan. 22, 2014	Jun. 30, 2014	Jul. 31, 2014	Jun. 30, 2014
				Houston Extended Stay Hotels and Everson Pointe [Member]	Crowe's Crossing [Member]	Crowe's Crossing [Member]	Sarasota Industrial [Member]	Sarasota Industrial [Member]
Long Lived Assets Held-for-sale [Line Items]	'	'	'	'	'	'	'	'
Disposal of real estate	'	'	'	$27,000	$9,300	'	$5,300	'
Repayment of debt	'	3,584	862	11,100	5,800	'	'	'
Gain (loss) on disposition	2,000	'	'	'	'	1,600	'	-2,400
Carrying amount of assets held for sale	7,709	'	'	'	'	'	'	5,300
Liabilities held for sale	$6,113	'	'	'	'	'	'	$100

Assets_and_Liabilities_Held_fo3

Assets and Liabilities Held for Sale, Assets and Liabilities Disposed of and Discontinued Operations (Summary of Operating Results of Discontinued Operations) (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Assets and Liabilities Held for Sale, Assets and Liabilities Disposed of and Discontinued Operations [Abstract]	'	'	'	'
Revenues	'	$1,676	$58	$3,149
Operating expenses	'	1,048	29	2,142
Operating Income	'	628	29	1,007
Interest expense	'	-250	-19	-504
Gain on disposition	'	'	1,610	'
Net income from discontinued operations	'	$378	$1,620	$503

Assets_and_Liabilities_Held_fo4

Assets and Liabilities Held for Sale, Assets and Liabilities Disposed of and Discontinued Operations (Summary of Associated Assets and Liabilities of Discontinued Operations) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Net investment property	'	$6,622
Intangible assets, net	'	525
Other assets	'	562
Total assets held for sale	'	7,709
Mortgages payable	'	5,834
Accounts payable and accrued expenses	'	41
Other liabilities	'	238
Total liabilities held for sale	'	$6,113

Related_Party_Transactions_Amo

Related Party Transactions (Amount Recorded in Pursuant to Related Party Arrangment) (Details) (Related Party [Member], USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Related Party [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Acquisition fees	$27	$940	$59	$1,256
Asset management fees	711	637	1,424	1,258
Property management fees	341	433	689	855
Development fees and leasing commissions	241	415	405	789
Total	$1,320	$2,425	$2,577	$4,158

Related_Party_Transactions_Nar

Related Party Transactions (Narrative) (Details) (USD $)	6 Months Ended				3 Months Ended	6 Months Ended	121 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Aug. 08, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Mar. 07, 2014
					SLP Units [Member]	SLP Units [Member]	SLP Units [Member]	Preferred Investment [Member]	Preferred Investment [Member]
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'	'
Distributions declared	$8,946	'	'	'	$500	$1,000	'	'	'
Cumulative distribution declared	'	'	'	'	13,900	13,900	13,900	'	'
Cumulative distribution paid	1,395	5,998	'	'	'	'	13,400	'	'
Preferred equity distributions, amount declared	'	'	'	'	'	'	'	'	35,000
Preferred equity distributions, additional available funds	'	'	'	'	'	'	'	'	10,000
Annual distribution rate	'	'	7.00%	'	'	'	'	'	12.00%
Investment in affiliate	21,837	'	'	'	'	'	'	21,800	'
Dividend income	'	'	'	'	'	'	'	409	'
Accrued dividends receivable	'	'	'	'	'	'	'	$215	'

Financial_Instruments_Details

Financial Instruments (Details) (Mortgage payables [Member], USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Mortgage payables [Member]	'	'
Debt Instrument [Line Items]	'	'
Carrying Amount	$292,500	$295,300
Estimated Fair Value	$291,600	$292,800

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'	'	'
Total revenues	$24,427	$17,797	$46,627	$32,464	'
Property operating expenses	13,229	9,767	25,744	18,423	'
Real estate taxes	1,053	1,196	2,405	2,233	'
General and administrative costs	1,516	2,990	3,299	5,227	'
Net operating income/(loss)	8,629	3,844	15,179	6,581	'
Depreciation and amortization	4,219	2,451	8,189	4,815	'
Operating income/(loss)	4,410	1,393	6,990	1,766	'
Total Assets	672,832	'	672,832	'	677,761
Retail [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Total revenues	2,701	2,944	5,553	5,896	'
Property operating expenses	860	760	1,672	1,538	'
Real estate taxes	48	328	387	672	'
General and administrative costs	-21	23	-1	20	'
Net operating income/(loss)	1,814	1,833	3,540	3,666	'
Depreciation and amortization	1,063	982	2,025	1,982	'
Operating income/(loss)	751	851	1,515	1,684	'
Total Assets	105,236	'	105,236	'	114,817
Multi Family [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Total revenues	5,295	3,274	10,214	6,509	'
Property operating expenses	1,778	1,415	3,730	2,866	'
Real estate taxes	335	311	680	497	'
General and administrative costs	58	63	153	119	'
Net operating income/(loss)	3,124	1,485	5,651	3,027	'
Depreciation and amortization	1,046	441	2,069	873	'
Operating income/(loss)	2,078	1,044	3,582	2,154	'
Total Assets	145,847	'	145,847	'	145,582
Industrial [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Total revenues	1,898	1,853	3,776	3,577	'
Property operating expenses	520	455	1,032	905	'
Real estate taxes	209	197	418	397	'
General and administrative costs	1	19	-55	12	'
Net operating income/(loss)	1,168	1,182	2,381	2,263	'
Depreciation and amortization	453	463	912	916	'
Operating income/(loss)	715	719	1,469	1,347	'
Total Assets	57,958	'	57,958	'	59,937
Hospitality [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Total revenues	14,533	9,726	27,084	16,482	'
Property operating expenses	10,071	7,134	19,354	13,108	'
Real estate taxes	461	360	920	667	'
General and administrative costs	144	56	311	126	'
Net operating income/(loss)	3,857	2,176	6,499	2,581	'
Depreciation and amortization	1,657	565	3,183	1,044	'
Operating income/(loss)	2,200	1,611	3,316	1,537	'
Total Assets	153,499	'	153,499	'	150,923
Unallocated [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Total revenues	'	'	'	'	'
Property operating expenses	'	3	1	6	'
Real estate taxes	'	'	'	'	'
General and administrative costs	1,334	2,829	2,891	4,950	'
Net operating income/(loss)	-1,334	-2,832	-2,892	-4,956	'
Depreciation and amortization	'	'	'	'	'
Operating income/(loss)	-1,334	-2,832	-2,892	-4,956	'
Total Assets	$210,292	'	$210,292	'	$206,502

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	0 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Apr. 12, 2012	Nov. 21, 2012	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
			Grand Prairie Outlet Center [Member]	Grand Prairie Outlet Center [Member]	Livermore Land Parcel [Member]
			Lightstone Value Plus REIT Inc. [Member]	Holding Entities [Member]
Guarantor Obligations [Line Items]	'	'	'	'	'
Litigation settlement amount	$1,000	'	'	'	'
Potential damages	'	164	'	'	'
Potential additional consideration	'	'	'	'	5,000
Acquisition purchase price	'	'	'	'	35,000
Gain on disposition of interest	'	'	$1,200	$3,000	'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	0 Months Ended
	Aug. 08, 2014	Jul. 15, 2014
Subsequent Event [Line Items]	'	'
Distribution payment	'	$4,500,000
Distribution payment in form of shares	'	100,000
Distribution payment, price per share	'	$11.21
Distribution declared	8-Aug-14	'
Distribution on per day basis	0.0019178	'
Number of days used to calculate daily amount of distribution	'365 days	'
Annualized rate of dividend	7.00%	'
Face value of share	$10	'
Distribution payment date	15-Oct-14	'
Record date	30-Sep-14	'
Distribution paid from cash flows provided from operations [Member]	'	'
Subsequent Event [Line Items]	'	'
Distribution payment	'	3,100,000
Percentage of distribution payment in form of cash	'	68.00%
Distribution paid from the issuance of common stock through the company Distribution Reinvestment Program [Member]	'	'
Subsequent Event [Line Items]	'	'
Distribution payment	'	$1,400,000
Percentage of distribution payment in form of cash	'	32.00%