New York REIT Liquidating (NYRT) 10-Q 4 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Nov. 01, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	New York REIT Liquidating LLC
Entity Central Index Key	0001474464
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Common Stock, Shares Outstanding		16,791,769
Entity Address, State or Province	MA
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Address, Address Line One	2 Liberty Square, 9th Floor
Entity Address, City or Town	Boston
Entity Address, Postal Zip Code	02109
Entity File Number	001-36416
Entity Tax Identification Number	83-2426528
City Area Code	617
Local Phone Number	570-4750
Entity Incorporation, State or Country Code	DE

Consolidated Statements of Net

Consolidated Statements of Net Assets - Liquidation Value [Member] - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets
Investment in unconsolidated joint venture	$ 269,040	$ 265,516
Cash and cash equivalents	7,572	7,650
Restricted cash held in escrow	92,177	92,302
Accounts receivable	60	60
Total Assets	368,849	365,528
Liabilities
Liability for estimated costs in excess of estimated receipts during liquidation	2,290	2,348
Accounts payable, accrued expenses and other liabilities	253	389
Total Liabilities	2,543	2,737
Commitments and Contingencies
Net assets in liquidation	$ 366,306	$ 362,791

Consolidated Statements of Chan

Consolidated Statements of Changes in Net Assets - Liquidation Value [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net assets in liquidation, beginning of period	$ 366,850	$ 360,584	$ 362,791	$ 372,556
Changes in net assets in liquidation:
Changes in liquidation value of investment in unconsolidated joint venture	4,213	1,393	13,169	3,840
Remeasurement of assets and liabilities	(559)	(324)	(2,098)	(1,141)
Net changes in liquidation value	3,654	1,069	11,071	2,699
Liquidating distributions to unitholders	(4,198)	(1,679)	(7,556)	(15,281)
Changes in net assets in liquidation	(544)	(610)	3,515	(12,582)
Net assets in liquidation, end of period	$ 366,306	$ 359,974	$ 366,306	$ 359,974

Organization

Organization	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Note 1 — Organization New York REIT Liquidating LLC (the “Company”) was formed on November 7, 2018 and is the successor entity to New York REIT, Inc., (the “Predecessor”). The Predecessor was incorporated on October 6, 2009 as a Maryland corporation that qualified as a real estate investment trust for U.S. federal income tax purposes (“REIT”) beginning with its taxable year ended December 31, 2010. On April 15, 2014, the Predecessor listed its common stock on the New York Stock Exchange (“NYSE”) under the symbol “NYRT” (the “Listing”). The sole purpose of the Company is to wind up the Company’s affairs and the liquidation of the Company’s assets with no objective to continue or to engage in the conduct of a trade or business, except as necessary for the orderly liquidation of the Company’s assets. Substantially all of the Predecessor’s business was conducted through its operating partnership, New York Recovery Operating Partnership, L.P., a Delaware limited partnership (the “OP”). On August 22, 2016, the Predecessor’s Board of Directors (the “Board”) approved a plan of liquidation to sell in an orderly manner all or substantially all of the assets of the Predecessor and its OP and to liquidate and dissolve the Predecessor and the OP (the “Liquidation Plan”), subject to stockholder approval (see Note 2). The Liquidation Plan was approved at a special meeting of stockholders on January 3, 2017. All of the assets held by the OP have been sold and the OP was dissolved prior to the conversion on November 7, 2018. As of September 30, 2020, the Company’s only significant assets are a 50.1% equity interest in WWP Holdings LLC (“WWP”), which owns one property, known as Worldwide Plaza, aggregating 2.0 million rentable square feet, with an average occupancy of 97.3%, and a $90.7 million cash reserve to be utilized for improvements at the property owned by WWP. The property consists of office space, retail space and a garage representing 88%, 5% and 7%, respectively, of rentable square feet as of September 30, 2020. The Company has no employees. Since March 8, 2017, all advisory duties are administered by Winthrop REIT Advisors, LLC (the “Winthrop Advisor”).

Liquidation Plan

Liquidation Plan	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidation Plan	Note 2 – Liquidation Plan The Liquidation Plan provides for an orderly sale of the Company’s assets, payment of the Company’s liabilities and other obligations and the winding down of operations and dissolution of the Company. The Predecessor was not, and the Company is not, permitted to make any new investments except to make protective acquisitions or advances with respect to its existing assets. The Company is permitted to satisfy any existing contractual obligations and fund required tenant improvements and capital expenditures at its real estate property owned by the joint venture in which the Company owns an interest (See Note 6). The Liquidation Plan enables the Company to sell any and all of its assets without further approval of the unitholders and provides that liquidating distributions be made to the unitholders as determined by the Company’s board of managers (the “Board of Managers”). In order to comply with applicable laws, the Predecessor converted into a limited liability company. The conversion of the Predecessor to a limited liability company was approved by the stockholders on September 7, 2018 and became effective on November 7, 2018. In October 2018, the Predecessor announced the withdrawal of its common stock (“Common Shares”) from listing on the NYSE in connection with the conversion. November 2, 2018 was the last day Common Shares were traded on the NYSE and the stock transfer books were closed as of 4:00 p.m. (Eastern Time) on such date. At the effective time of the conversion, each outstanding Common Share was converted into one unit of common membership interest in the LLC (a “Unit”), and holders of Common Shares automatically received one Unit (which Unit was in book entry form) for each Common Share held by such stockholder. Holders of Units should note that unlike Common Shares, which, in addition to being listed on the NYSE, were freely transferable, Units are not listed for trading and generally are not transferable except by will, intestate succession or operation of law. Therefore, the recipients of Units do not have the ability to realize any value from these interests except from distributions made by the Company, the timing of which will be solely in the discretion of the Board of Managers. On October 26, 2018, the Board designated Randolph C. Read, P. Sue Perrotty, Craig T. Bouchard, Howard Goldberg and Joe C. McKinney, representing all the previous members of the Board, to serve as the initial members of the Board of Managers. On June 29, 2020, Joe C. McKinney and P. Sue Perrotty each resigned from the Board, effective July 29, 2020. Additionally, Joseph Moinian, the Company’s largest unitholder, was added as an Observer to the Company’s Board of Managers effective June 30, 2020 in an unpaid position with no voting rights in connection with Board matters. The Company is deemed to be the same entity as the Predecessor with the same assets and liabilities as the Predecessor. In addition, the charter and bylaws of the Predecessor were replaced by the operating agreement of the Company. For tax purposes, the fair value of each Unit in the Company received by stockholders when the conversion became effective, which reflected the value of the remaining assets of the Company (net of liabilities), was equal to the average of the high and low trading prices for shares of the Predecessor’s common stock on the last three days on which the shares were traded on the NYSE. The business of the Company is the same as the business of the Predecessor immediately preceding the conversion, which, consistent with the Liquidation Plan, consists of the continued ownership of the Predecessor’s interest in Worldwide Plaza, the only remaining property-related asset. Under its operating agreement, the business and affairs of the Company will be managed by or under the direction of its Board of Managers, and the sole purpose is winding up the affairs of the Company and the liquidation of its remaining asset. The Company will remain in existence until the earlier of (i) the distribution of all its assets pursuant to liquidation or (ii) November 7, 2022 which is four years from the effective time of the conversion. The term may be extended to such later date as the Board of Managers determines is reasonably necessary to fulfill the purposes of the Company. The dissolution process and the amount and timing of future distributions to unitholders involves risks and uncertainties. Accordingly, it is not possible to predict the timing or aggregate amount which will be ultimately distributed to unitholders and no assurance can be given that the distributions will equal or exceed the estimate of net assets presented in the Consolidated Statement of Net Assets.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3 — Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements of the Company were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany accounts and transactions have been eliminated in consolidation. The outbreak of the novel coronavirus (“COVID-19”) COVID-19. As of September 30, 2020, the property collected of the office rents that were due for the year to date period. With respect to the retail and amenities tenants of the property, approximately of rents have not been paid as those tenants are seeking rent concessions for the time period during which they were required to be closed as a result of the COVID-19 pandemic. The unpaid rents represent approximately of total rents due at the property for the nine months ended September 30, 2020. Management of WWP is evaluating each request on a tenant by tenant basis. COVID-19 Liquidation Basis of Accounting As a result of the approval of the Liquidation Plan by the stockholders, the Company adopted the liquidation basis of accounting as of January 1, 2017 and for the periods subsequent to December 31, 2016 in accordance with GAAP. Accordingly, on January 1, 2017, the carrying value of the Company’s assets were adjusted to their liquidation value, which represented the estimated amount of cash that the Company expected to collect on disposal of assets as it carried out its liquidation activities under the Liquidation Plan. All properties have been sold except for the remaining interest in Worldwide Plaza. For purposes of liquidation accounting, the Company’s estimate of net assets in liquidation assumes a sale of Worldwide Plaza at September 30, 2021. The actual timing of sale has not yet been determined and is subject to future events and uncertainties. These estimates are subject to change based on the actual timing of the sale of the Company’s remaining property. Liabilities are carried at their contractual amounts due as adjusted for the timing and other assumptions related to the liquidation process. The Company accrues costs and revenues that it expects to incur and earn as it carries out its liquidation activities through the end of the projected liquidation period, which ends on September 30, 2021, to the extent it has a reasonable basis for estimation. Estimated costs expected to be incurred through the end of the liquidation period include corporate overhead costs associated with satisfying known and contingent liabilities and other costs associated with the winding down and dissolution of the Company. Revenues are based on current interest rate assumptions. These amounts are classified as a net liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statements of Net Assets. Actual costs and revenues may differ from amounts reflected in the consolidated financial statements due to the inherent uncertainty in estimating future events. These differences may be material. See Note 4 for further discussion. Actual costs incurred but unpaid as of September 30, 2020 and December 31, 2019 are included in accounts payable, accrued expenses and other liabilities on the Consolidated Statements of Net Assets. As a result of the change to the liquidation basis of accounting, the Company no longer presents a Consolidated Balance Sheet, a Consolidated Statement of Operations and Comprehensive Income (Loss), a Consolidated Statement of Changes in Equity or a Consolidated Statement of Cash Flows. Use of Estimates Certain of the Company’s accounting estimates are particularly important for an understanding of the Company’s financial position and results of operations and require the application of significant judgment by management. As a result, these estimates are subject to a degree of uncertainty. The Company is required to estimate all costs and revenue it expects to incur and earn through the end of liquidation including the estimated amount of cash it expects to collect on the disposal of its assets and the estimated costs to dispose of its assets. All of the estimates and evaluations are susceptible to change and actual results could differ materially from the estimates and evaluations. Revenue Recognition Under the liquidation basis of accounting, the Company accrues all revenue that it expects to earn through the end of liquidation to the extent it has a reasonable basis for estimation. The Company has no revenues other than interest income. These amounts are classified within liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statements of Net Assets. Investment in Unconsolidated Joint Venture The Company accounts for its investment in unconsolidated joint venture under the equity method of accounting because the Company exercises significant influence over but does not control the entity and is not considered to be the primary beneficiary. The investment in unconsolidated joint venture is recorded at its liquidation value, or net realizable value, which is comprised of an estimate of the expected sale proceeds upon disposition plus the estimated net cash flow from the venture during the liquidation period. The Company evaluates the net realizable value of its unconsolidated joint venture at each reporting period. Any changes in net realizable value will be reflected as a change in the Company’s net assets in liquidation. The liquidation value of the Company’s remaining investment in Worldwide Plaza as of September 30, 2020 and December 31, 2019 is based on estimated cash flow projections utilizing appropriate discount and capitalization rates as well as available market information. Restricted Cash At September 30, 2020 and December 31, 2019, restricted cash primarily consists of the $90.7 million capital improvement reserve for Worldwide Plaza and $1.4 million being held in escrow in connection with the sale of the Viceroy Hotel (the “Viceroy Escrow”). The Viceroy Escrow was established from proceeds of the sale of the Viceroy Hotel and was required to cover a potential seller’s obligation to fund any shortfalls to the New York Hotel Pension Fund should the Purchaser of the property withdraw from the Pension Fund without fully funding the then outstanding shortfall due to the Pension Fund. Recent Accounting Pronouncements There are no new accounting pronouncements that are applicable or relevant to the Company under the liquidation basis of accounting.

Liability for Estimated Costs i

Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation	9 Months Ended
	Sep. 30, 2020
Text Block [Abstract]
Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation	Note 4 - Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation The liquidation basis of accounting requires the Company to estimate net cash flows from operations and to accrue all costs associated with implementing and completing the plan of liquidation. The Company currently estimates that it will have costs in excess of estimated receipts during the liquidation. These amounts can vary significantly due to, among other things, the timing and estimates for operating expenses, interest earned on reserves and the costs associated with the winding down of operations. These costs are estimated and are anticipated to be paid out over the liquidation period. At September 30, 2020 and December 31, 2019, the Company had accrued the following net expenses expected to be incurred during liquidation (in thousands): September 30, 2020 December 31, 2019 General and administrative expenses $ (2,290 ) $ (2,348 ) Liability for estimated costs in excess of estimated receipts during liquidation $ (2,290 ) $ (2,348 ) The change in the liability for estimated costs in excess of estimated receipts during liquidation for the nine months ended September 30, 2020 and 2019 are as follows (in thousands): January 1, 2020 Net Change Remeasurement September 30, Liabilities: General and administrative expenses $ (2,348 ) $ 2,156 $ (2,098 ) $ (2,290 ) Total liability for estimated costs in excess of estimated receipts during liquidation $ (2,348 ) $ 2,156 $ (2,098 ) $ (2,290 ) January 1, 2019 Net Change Remeasurement September 30, Liabilities: General and administrative expenses (3,208 ) 1,725 (1,141 ) (2,624 ) Total liability for estimated costs in excess of estimated receipts during liquidation $ (3,208 ) $ 1,725 $ (1,141 ) $ (2,624 ) (1) Represents changes in cash, restricted cash, accounts receivable, accounts payable and accrued expenses as a result of the Company’s operating activities for the nine months ended September 30, 2020 and 2019.

Net Assets in Liquidation

Net Assets in Liquidation	9 Months Ended
	Sep. 30, 2020
Text Block [Abstract]
Net Assets in Liquidation	Note 5 – Net Assets in Liquidation Net assets in liquidation decreased by $0.5 million during the three months ended September 30, 2020, primarily due to a liquidating distribution to unitholders of $4.2 million and a $0.6 million decrease due to a remeasurement of estimated costs. The decrease was offset by a net increase of $4.2 million in the estimated liquidation value of the Company’s investment in Worldwide Plaza related to the estimated distributions to be received from working capital at the property and property operations. Net assets in liquidation increased by $3.5 million during the nine months ended September 30, 2020, primarily due to a net increase of $13.2 million in the estimated liquidation value of the Company’s investment in Worldwide Plaza related to the estimated distributions to be received from working capital at the property and property operations. The increase was offset by liquidating distributions to unitholders of $7.6 million and a $2.1 million decrease due to a remeasurement of estimated costs. Net assets in liquidation decreased by $0.6 million during the three months ended September 30, 2019, primarily due to a liquidating distribution to unitholders of $1.7 million and a $0.3 million decrease due to a remeasurement of estimated costs. The decrease in net assets was offset by an increase of $1.4 million in the estimated liquidation value of the Company’s investment in Worldwide Plaza related to the estimated distributions to be received from working capital at the property and property operations. Net assets in liquidation decreased by $12.6 million during the nine months ended September 30, 2019, primarily due to liquidating distributions to unitholders of $15.3 million and a $1.1 million decrease due to a remeasurement of estimated costs. The decrease in net assets was offset by an increase of $3.8 million in the estimated liquidation value of the Company’s investment in Worldwide Plaza related to the estimated distributions to be received from working capital at the property and property operations. The net assets in liquidation at September 30, 2020, presented on an undiscounted basis include the Company’s proportionate share in Worldwide Plaza’s net assets which include a property value at $1.725 billion based on estimated cash flow projections utilizing appropriate discount and capitalization rates as well as available market information. There were 16,791,769 Units outstanding at September 30, 2020. The net assets in liquidation as of September 30, 2020, if sold at their net asset value, would result in liquidating distributions of approximately $21.81 per Unit. On November 2, 2020, the Board of Managers declared a cash liquidating distribution of $0.25 per Unit payable on November 17 10

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Venture	9 Months Ended
	Sep. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Joint Venture	Note 6 — Investment in Unconsolidated Joint Venture On October 30, 2013, the Predecessor purchased a 48.9% equity interest in Worldwide Plaza for a contract purchase price of $220.1 million, based on the property value at that time for Worldwide Plaza of $1.3 billion less $875 million of debt on the property. On June 1, 2017, the Predecessor acquired an additional 49.9% equity interest in Worldwide Plaza on exercise of the Predecessor’s option to purchase for a contract purchase price of $276.7 million, based on the option price of the property of approximately $1.4 billion less $875.0 million of debt on the property. The Predecessor’s joint venture partner exercised its right to retain 1.2% of the aggregate membership interests in Worldwide Plaza. Following the exercise of the option, the Company owned a total equity interest of 98.8% in Worldwide Plaza. On October 18, 2017, the Predecessor sold a 48.7% interest in Worldwide Plaza to a joint venture managed by SL Green Realty Corp. and RXR Realty LLC based on an estimated underlying property value of $1.725 billion. In conjunction with the equity sale, there was a concurrent $1.2 billion refinancing of the existing Worldwide Plaza debt. The Predecessor received cash at closing of approximately $446.5 million from the sale and excess proceeds from the financing, net of closing costs which included $108.3 million of defeasance and prepayment costs. The new debt on Worldwide Plaza bears interest at a blended rate of approximately 3.98% per annum, requires monthly payments of interest only and matures in November 2027. The Company has set aside $90.7 million of the proceeds in a separate account to fund future capital improvements to Worldwide Plaza. Following the sale of its interest, the Company now holds a 50.1% interest in Worldwide Plaza. The Company has determined that this investment is an investment in a variable interest entity (VIE). The Company has determined that it is not the primary beneficiary of this VIE since the Company does not have the power to direct the activities that most significantly impact the VIE’s economic performance. The Company accounts for this investment using the equity method of accounting. The lease with one of the tenants at the Worldwide Plaza property contains a right of first offer in the event that Worldwide Plaza sells 100% of the property. The right requires Worldwide Plaza to offer the tenant the option to purchase 100% of the Worldwide Plaza property, at the price, and on other material terms, proposed by Worldwide Plaza to third parties. If, after a 45-day re-offer The following table lists the tenants whose annualized cash rent represented greater than 10 September 30, Property Portfolio Tenant 2020 2019 Worldwide Plaza Cravath, Swaine & Moore, LLP 48.5 % 46.5 % Worldwide Plaza Nomura Holdings America, Inc. 30.7 % 32.5 % The termination, delinquency or non-renewal The amounts reflected in the following tables are based on the financial information of Worldwide Plaza. Under liquidation accounting, equity investments are carried at net realizable value. The condensed balance sheets as of September 30, 2020 and December 31, 2019 for Worldwide Plaza are as follows: (In thousands) September 30, December 31, Real estate assets, at cost $ 836,629 $ 829,168 Less accumu lated depr e c ia tion and a mor t ization (252,029 ) (239,120 ) Total real estate asset s, net 584,600 590,048 Cash and cash equivalents 53,011 45,477 Other asset s 135,570 151,445 Total assets $ 773,181 $ 786,970 Debt $ 1,250,232 $ 1,238,794 Other liabilities 165,199 153,331 Total liabilities 1,415,431 1,392,125 Deficit (642,250 ) (605,155 ) Total liabilities and deficit $ 773,181 $ 786,970 The condensed statements of operations for the three and nine months ended September 30, 2020 and 2019 for Worldwide Plaza are as follows: Three Months Ended September 30, Nine Months Ended September 30 , (In thousands) 2020 2019 2020 2019 Rental income $33,703 $36,080 $102,806 $107,198 Operating expenses: Operating expenses 15,541 16,309 47,223 47,481 Depreciation and amortization 5,050 7,584 15,148 22,721 Total operating expenses 20,591 23,893 62,371 70,202 Operating income 13,112 12,187 40,435 36,996 Interest expense (19,422 ) (18,999 ) (57,840 ) (56,363 ) Net loss $ (6,310 ) $ (6,812 ) $ (17,405 ) $ (19,367 )

Common Stock

Common Stock	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Common Stock	Note 7 — Common Stock The Company had 16,791,769 Units outstanding as of September 30, 2020 and December 31, 2019. The Company expects to make periodic liquidating distributions out of cash flow distributions received from Worldwide Plaza and proceeds from the ultimate sale of the Company’s interest in Worldwide Plaza, subject to satisfying its liabilities and obligations, in lieu of regular monthly dividends. On March 16, 2020, the Company paid a cash liquidating distribution of $0.10 per Unit. On May 19, 2020, the Company paid a cash liquidating distribution of $0.10 per Unit. On August 19, 2020, the Company paid a cash liquidating distribution of $0.25 per Unit. Through September 30, 2020, the Company paid aggregate liquidating distributions equal to $60.26 per share/unit. On November 2 17 10

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8 — Commitments and Contingencies Litigation and Regulatory Matters In the ordinary course of business, the Company may become subject to litigation, claims and regulatory matters. There are no legal or regulatory proceedings pending or known to be contemplated against the Company from which the Company expects to incur a material loss. Environmental Matters In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. The Company, through its joint venture, maintains environmental insurance for its properties that provides coverage for potential environmental liabilities, subject to the policy’s coverage conditions and limitations. The Company has not been notified by any governmental authority of any non-compliance,

Related Party Transactions and

Related Party Transactions and Arrangements	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions and Arrangements	Note 9 — Related Party Transactions and Arrangements Winthrop Advisor and its Affiliates The activities of the Liquidating LLC are administered by the Winthrop Advisor pursuant to the terms of an advisory agreement, as amended, (the “Advisory Agreement”) between the Company and the Winthrop Advisor. The original term of the Advisory Agreement ended on November 7, 2018, the effective date of the conversion of the Company to a liquidating entity (the “Liquidation Date”). Since no notice of termination of the Advisory Agreement was received by either party, the Advisory Agreement automatically renewed for a one-month one-month one-month Beginning on March 1, 2017, and continuing through the Liquidation Date, the Company paid Winthrop Advisor an asset management fee equal to 0.325% per annum of the cost of assets (as defined in the Advisory Agreement) up to $3.0 billion and 0.25% per annum of the cost of assets in excess of $3.0 billion. Beginning with the fiscal quarter ending September 30, 2018 and ending on the Liquidation Date, the Company paid Winthrop Advisor a supplemental fee of $25,000 per quarter (prorated for any partial quarter) in addition to the base management fee. Following the Liquidation Date, the Company pays to the Winthrop Advisor a monthly fee of $100,000 and a supplemental fee of $50,000 per quarter (prorated for any partial quarter) for any period that the principal executive and financial officers of the Company are required to certify the financial and other information contained in the Company’s quarterly and annual reports pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, as amended. October 30 In connection with the adoption of liquidation accounting, the Company accrues costs it expects to incur through the end of liquidation. As of September 30, 2020 and December 31, 2019, the Company has accrued asset management fees and compensation reimbursements totaling $1.2 million and $1.4 million, respectively, payable to the Winthrop Advisor representing management’s estimate of future asset management fees to final liquidation, provided there is no assurance that the contract will continue to be extended at the same terms, if at all. This amount is included in estimated costs in excess of estimated receipts during liquidation. In connection with the payment of (i) any distributions of money or other property by the Company to its stockholders or unitholders during the term of the Advisory Agreement and (ii) any other amounts paid to the Company’s stockholders or unitholders on account of their shares of common stock or membership interests in the Company in connection with a merger or other change in control transaction pursuant to an agreement with the Company entered into after March 8, 2017 (such distributions and payments, the “Hurdle Payments”), in excess of $110.00 per share (the “Hurdle Amount”), when taken together with all other Hurdle Payments, the Company will pay an incentive fee to Winthrop Advisor in an amount equal to 10.0% of such excess (the “Incentive Fee”). The Hurdle Amount will be increased on an annualized basis by an amount equal to the product of (a) the Treasury Rate plus 200 basis points and (b) the Hurdle Amount minus all previous Hurdle Payments. Based on the current estimated undiscounted net assets in liquidation, the Winthrop Advisor would not be entitled to receive any such incentive fee. The Company paid the Winthrop Advisor $317,000 and $1,017,000 for the three and nine month periods ended September 30, 2020 and $350,000 and $1,050,000 for the three and nine month periods ended September 30, 2019.

Economic Dependency

Economic Dependency	9 Months Ended
	Sep. 30, 2020
Text Block [Abstract]
Economic Dependency	Note 10 — Economic Dependency Under various agreements, the Company has engaged Winthrop Advisor, its affiliates and entities under common control with Winthrop Advisor to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset disposition decisions, as well as other administrative responsibilities for the Company including accounting services, transaction management and investor relations. As a result of these relationships, the Company is dependent upon Winthrop Advisor and its affiliates. In the event that these companies are unable to provide the Company with the respective services, the Company will be required to find alternative providers of these services.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 11 — Subsequent Events The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany accounts and transactions have been eliminated in consolidation. The outbreak of the novel coronavirus (“COVID-19”) COVID-19. As of September 30, 2020, the property collected of the office rents that were due for the year to date period. With respect to the retail and amenities tenants of the property, approximately of rents have not been paid as those tenants are seeking rent concessions for the time period during which they were required to be closed as a result of the COVID-19 pandemic. The unpaid rents represent approximately of total rents due at the property for the nine months ended September 30, 2020. Management of WWP is evaluating each request on a tenant by tenant basis. COVID-19
Liquidation Basis of Accounting	Liquidation Basis of Accounting As a result of the approval of the Liquidation Plan by the stockholders, the Company adopted the liquidation basis of accounting as of January 1, 2017 and for the periods subsequent to December 31, 2016 in accordance with GAAP. Accordingly, on January 1, 2017, the carrying value of the Company’s assets were adjusted to their liquidation value, which represented the estimated amount of cash that the Company expected to collect on disposal of assets as it carried out its liquidation activities under the Liquidation Plan. All properties have been sold except for the remaining interest in Worldwide Plaza. For purposes of liquidation accounting, the Company’s estimate of net assets in liquidation assumes a sale of Worldwide Plaza at September 30, 2021. The actual timing of sale has not yet been determined and is subject to future events and uncertainties. These estimates are subject to change based on the actual timing of the sale of the Company’s remaining property. Liabilities are carried at their contractual amounts due as adjusted for the timing and other assumptions related to the liquidation process. The Company accrues costs and revenues that it expects to incur and earn as it carries out its liquidation activities through the end of the projected liquidation period, which ends on September 30, 2021, to the extent it has a reasonable basis for estimation. Estimated costs expected to be incurred through the end of the liquidation period include corporate overhead costs associated with satisfying known and contingent liabilities and other costs associated with the winding down and dissolution of the Company. Revenues are based on current interest rate assumptions. These amounts are classified as a net liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statements of Net Assets. Actual costs and revenues may differ from amounts reflected in the consolidated financial statements due to the inherent uncertainty in estimating future events. These differences may be material. See Note 4 for further discussion. Actual costs incurred but unpaid as of September 30, 2020 and December 31, 2019 are included in accounts payable, accrued expenses and other liabilities on the Consolidated Statements of Net Assets. As a result of the change to the liquidation basis of accounting, the Company no longer presents a Consolidated Balance Sheet, a Consolidated Statement of Operations and Comprehensive Income (Loss), a Consolidated Statement of Changes in Equity or a Consolidated Statement of Cash Flows.
Use of Estimates	Use of Estimates Certain of the Company’s accounting estimates are particularly important for an understanding of the Company’s financial position and results of operations and require the application of significant judgment by management. As a result, these estimates are subject to a degree of uncertainty. The Company is required to estimate all costs and revenue it expects to incur and earn through the end of liquidation including the estimated amount of cash it expects to collect on the disposal of its assets and the estimated costs to dispose of its assets. All of the estimates and evaluations are susceptible to change and actual results could differ materially from the estimates and evaluations.
Revenue Recognition	Revenue Recognition Under the liquidation basis of accounting, the Company accrues all revenue that it expects to earn through the end of liquidation to the extent it has a reasonable basis for estimation. The Company has no revenues other than interest income. These amounts are classified within liability for estimated costs in excess of estimated receipts during liquidation on the Consolidated Statements of Net Assets.
Investment in Unconsolidated Joint Venture	Investment in Unconsolidated Joint Venture The Company accounts for its investment in unconsolidated joint venture under the equity method of accounting because the Company exercises significant influence over but does not control the entity and is not considered to be the primary beneficiary. The investment in unconsolidated joint venture is recorded at its liquidation value, or net realizable value, which is comprised of an estimate of the expected sale proceeds upon disposition plus the estimated net cash flow from the venture during the liquidation period. The Company evaluates the net realizable value of its unconsolidated joint venture at each reporting period. Any changes in net realizable value will be reflected as a change in the Company’s net assets in liquidation. The liquidation value of the Company’s remaining investment in Worldwide Plaza as of September 30, 2020 and December 31, 2019 is based on estimated cash flow projections utilizing appropriate discount and capitalization rates as well as available market information.
Restricted Cash	Restricted Cash At September 30, 2020 and December 31, 2019, restricted cash primarily consists of the $90.7 million capital improvement reserve for Worldwide Plaza and $1.4 million being held in escrow in connection with the sale of the Viceroy Hotel (the “Viceroy Escrow”). The Viceroy Escrow was established from proceeds of the sale of the Viceroy Hotel and was required to cover a potential seller’s obligation to fund any shortfalls to the New York Hotel Pension Fund should the Purchaser of the property withdraw from the Pension Fund without fully funding the then outstanding shortfall due to the Pension Fund.
Recent Accounting Pronouncement	Recent Accounting Pronouncements There are no new accounting pronouncements that are applicable or relevant to the Company under the liquidation basis of accounting.

Liability for Estimated Costs_2

Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation (Tables)	9 Months Ended
	Sep. 30, 2020
Text Block [Abstract]
Summary of Accrued Revenues and Expenses Expected to Earned or Incurred During Liquidation	At September 30, 2020 and December 31, 2019, the Company had accrued the following net expenses expected to be incurred during liquidation (in thousands): September 30, 2020 December 31, 2019 General and administrative expenses $ (2,290 ) $ (2,348 ) Liability for estimated costs in excess of estimated receipts during liquidation $ (2,290 ) $ (2,348 )
Schedule of Changes in Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation	The change in the liability for estimated costs in excess of estimated receipts during liquidation for the nine months ended September 30, 2020 and 2019 are as follows (in thousands): January 1, 2020 Net Change Remeasurement September 30, Liabilities: General and administrative expenses $ (2,348 ) $ 2,156 $ (2,098 ) $ (2,290 ) Total liability for estimated costs in excess of estimated receipts during liquidation $ (2,348 ) $ 2,156 $ (2,098 ) $ (2,290 ) January 1, 2019 Net Change Remeasurement September 30, Liabilities: General and administrative expenses (3,208 ) 1,725 (1,141 ) (2,624 ) Total liability for estimated costs in excess of estimated receipts during liquidation $ (3,208 ) $ 1,725 $ (1,141 ) $ (2,624 ) (1) Represents changes in cash, restricted cash, accounts receivable, accounts payable and accrued expenses as a result of the Company’s operating activities for the nine months ended September 30, 2020 and 2019.

Investment in Unconsolidated _2

Investment in Unconsolidated Joint Venture (Tables)	9 Months Ended
	Sep. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
Schedule of annualized rental income by major tenants	The following table lists the tenants whose annualized cash rent represented greater than 10 September 30, Property Portfolio Tenant 2020 2019 Worldwide Plaza Cravath, Swaine & Moore, LLP 48.5 % 46.5 % Worldwide Plaza Nomura Holdings America, Inc. 30.7 % 32.5 %
Condensed Balance Sheet	The condensed balance sheets as of September 30, 2020 and December 31, 2019 for Worldwide Plaza are as follows: (In thousands) September 30, December 31, Real estate assets, at cost $ 836,629 $ 829,168 Less accumu lated depr e c ia tion and a mor t ization (252,029 ) (239,120 ) Total real estate asset s, net 584,600 590,048 Cash and cash equivalents 53,011 45,477 Other asset s 135,570 151,445 Total assets $ 773,181 $ 786,970 Debt $ 1,250,232 $ 1,238,794 Other liabilities 165,199 153,331 Total liabilities 1,415,431 1,392,125 Deficit (642,250 ) (605,155 ) Total liabilities and deficit $ 773,181 $ 786,970
Condensed Income Statement	The condensed statements of operations for the three and nine months ended September 30, 2020 and 2019 for Worldwide Plaza are as follows: Three Months Ended September 30, Nine Months Ended September 30 , (In thousands) 2020 2019 2020 2019 Rental income $33,703 $36,080 $102,806 $107,198 Operating expenses: Operating expenses 15,541 16,309 47,223 47,481 Depreciation and amortization 5,050 7,584 15,148 22,721 Total operating expenses 20,591 23,893 62,371 70,202 Operating income 13,112 12,187 40,435 36,996 Interest expense (19,422 ) (18,999 ) (57,840 ) (56,363 ) Net loss $ (6,310 ) $ (6,812 ) $ (17,405 ) $ (19,367 )

Organization - Additional Infor

Organization - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)ft²Investment
WWP Holdings Llc [Member]
Organization [Line Items]
Number of investments | Investment	1
Liquidation Value [Member]
Organization [Line Items]
Area of investments | ft²	2
Occupancy percentage	97.30%
Ownership percentage	50.10%
Cash reserve utilized for improvements | $	$ 90.7
Liquidation Value [Member] | Supplier Concentration Risk [Member] | Composition of Real Estate Portfolio [Member] | Office Building [Member]
Organization [Line Items]
Concentration risk percent	88.00%
Liquidation Value [Member] | Supplier Concentration Risk [Member] | Composition of Real Estate Portfolio [Member] | Retail Site [Member]
Organization [Line Items]
Concentration risk percent	5.00%
Liquidation Value [Member] | Supplier Concentration Risk [Member] | Composition of Real Estate Portfolio [Member] | Parking Garage [Member]
Organization [Line Items]
Concentration risk percent	7.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Revenue from Rights Concentration Risk [Member] | Retail Site [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Rental Income Receivable	$ 1,138,000
Percentage Of Rental Income Not Collected	1.20%
Revenue from Rights Concentration Risk [Member] | Office Building [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage Of Rental Income Not Collected	100.00%
Worldwide Plaza [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concessions On Rental Income	$ 100,000
Liquidation Value [Member] | Worldwide Plaza [Member] | Capital Improvement Reserve [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash	90,700,000	$ 90,700,000
Liquidation Value [Member] | Escrow [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash	$ 1,400,000	$ 1,400,000

Liability for Estimated Costs_3

Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation - Summary of Accrued Revenues and Expenses Expected to Earned or Incurred During Liquidation (Detail) - Liquidation Value [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Liquidation Basis Of Accounting [Line Items]
General and administrative expenses	$ (2,290)	$ (2,348)
Liability for estimated costs in excess of estimated receipts during liquidation	$ (2,290)	$ (2,348)

Liability for Estimated Costs_4

Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation - Schedule of Changes in Liability for Estimated Costs in Excess of Estimated Receipts During Liquidation (Detail) - Liquidation Value [Member] - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Net assets in liquidation, beginning of period		$ 366,850	$ 360,584	$ 362,791	$ 372,556
Net Change in Working Capital	[1]			2,156	1,725
Remeasurement of assets and liabilities		(559)	(324)	(2,098)	(1,141)
Net assets in liquidation, end of period		366,306	359,974	366,306	359,974
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Business Acquisition [Line Items]
Net assets in liquidation, beginning of period				(2,348)	(3,208)
Net assets in liquidation, end of period		(2,290)	(2,624)	(2,290)	(2,624)
Liability [Member] | General And Administrative Expenses [Member]
Business Acquisition [Line Items]
Total liability for estimated costs, beginning balance				(2,348)	(3,208)
Net Change in Working Capital	[1]			2,156	1,725
Remeasurement of assets and liabilities				(2,098)	(1,141)
Total liability for estimated costs, ending balance		$ (2,290)	$ (2,624)	$ (2,290)	$ (2,624)
[1]	Represents changes in cash, restricted cash, accounts receivable, accounts payable and accrued expenses as a result of the Company’s operating activities for the nine months ended September 30, 2020 and 2019.

Net Assets in Liquidation - Add

Net Assets in Liquidation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Nov. 17, 2020	Nov. 02, 2020	Aug. 19, 2020	May 19, 2020	Mar. 16, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Net Assets In Liquidation [Line Items]
Liquidating distributions per common share	$ 0.25
Estimated future liquidating distributions per common share	$ 21.56
Liquidating distribution declared date	Nov. 2, 2020
Remeasurement [Member]
Net Assets In Liquidation [Line Items]
Net increase (decrease) in liquidation value							$ 300		$ 1,100
Worldwide Plaza [Member]
Net Assets In Liquidation [Line Items]
Net increase (decrease) in liquidation value							1,400		3,800
Liquidation Value [Member]
Net Assets In Liquidation [Line Items]
Liquidation value of property						$ 1,725,000		$ 1,725,000
Increase (decrease) in net assets subject to liquidation						500	600	3,500	12,600
Net increase (decrease) in liquidation value						(3,654)	(1,069)	$ (11,071)	(2,699)
Liquidating distributions per common share		$ 0.25	$ 0.25	$ 0.10	$ 0.10			$ 21.81
Net assets in liquidation						366,306	359,974	$ 366,306	359,974	$ 366,850	$ 362,791	$ 360,584	$ 372,556
Liquidating distributions to unit holders							$ 1,700	$ 1,012,000	$ 15,300
Liquidating distributions per unit								82.07
Liquidation Value [Member] | Viceroy Management Agreement [Member]
Net Assets In Liquidation [Line Items]
Net increase (decrease) in liquidation value						4,200		$ 7,600
Liquidation Value [Member] | Remeasurement [Member]
Net Assets In Liquidation [Line Items]
Net increase (decrease) in liquidation value						600		2,100
Liquidation Value [Member] | Worldwide Plaza [Member]
Net Assets In Liquidation [Line Items]
Net increase (decrease) in liquidation value						$ 4,200		$ 13,200
Common Stock [Member]
Net Assets In Liquidation [Line Items]
Common stock, shares outstanding						16,791,769		16,791,769			16,791,769
Common Stock [Member] | Liquidation Value [Member]
Net Assets In Liquidation [Line Items]
Common stock, shares outstanding						16,791,769		16,791,769
Stock Units [Member] | Liquidation Value [Member]
Net Assets In Liquidation [Line Items]
Liquidating distributions per unit								60.26

Investment in Unconsolidated _3

Investment in Unconsolidated Joint Venture - Additional Information (Detail) - USD ($) $ in Thousands	Oct. 18, 2017	Jun. 01, 2017	Sep. 30, 2020	Dec. 31, 2019	Oct. 30, 2013
SL Green Realty Corp. and RXR Realty LLC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	48.70%
Worldwide Plaza [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage			50.10%		48.90%
Aggregate cost		$ 276,700			$ 220,100
Agreed upon value					1,300,000
Notes payable			$ 1,250,232	$ 1,238,794	$ 875,000
Additional acquire percentage		49.90%
Purchase obligation		$ 1,400,000
Mortgage notes payable		$ 875,000
Joint venture partner's right to maintain minimum ownership percentage		1.20%
Debt refinance amount	$ 1,200,000
Cash received from sale and excess proceeds from financing	446,500
Defeasance and prepayment costs	108,300
Reserved amount	$ 90,700
Debt blended rate	3.98%
Maturity date			2027-11
Property selling percentage			100.00%
Option to purchase percentage of property			100.00%
Property purchase option period			45 days
Re-offer property selling percentage			92.50%
Worldwide Plaza [Member] | SL Green Realty Corp. and RXR Realty LLC [Member]
Schedule of Equity Method Investments [Line Items]
Liquidation value of property	$ 1,725,000
Liquidation Value [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage			50.10%
Liquidation value of property			$ 1,725,000
Liquidation Value [Member] | Worldwide Plaza [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage		98.80%

Investment in Unconsolidated _4

Investment in Unconsolidated Joint Venture (Detail) - Liquidation Value [Member] - Worldwide Plaza [Member]	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cravath, Swaine & Moore LLP [Member]
Revenue, Major Customer [Line Items]
Percentage of total annualized rental income	48.50%	46.50%
Nomura Holdings America, Inc [Member]
Revenue, Major Customer [Line Items]
Percentage of total annualized rental income	30.70%	32.50%

Investment in Unconsolidated _5

Investment in Unconsolidated Joint Venture - Consolidated Balance Sheet (Detail 1) - Worldwide Plaza [Member] - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Oct. 30, 2013
Schedule of Equity Method Investments [Line Items]
Real estate assets, at cost	$ 836,629	$ 829,168
Less accumulated depreciation and amortization	(252,029)	(239,120)
Total real estate assets, net	584,600	590,048
Cash and cash equivalents	53,011	45,477
Other assets	135,570	151,445
Total Assets	773,181	786,970
Debt	1,250,232	1,238,794	$ 875,000
Other liabilities	165,199	153,331
Total Liabilities	1,415,431	1,392,125
Deficit	(642,250)	(605,155)
Total liabilities and deficit	$ 773,181	$ 786,970

Investment in Unconsolidated _6

Investment in Unconsolidated Joint Venture - Condensed Income Statement (Detail 2) - Worldwide Plaza [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of Equity Method Investments [Line Items]
Rental income	$ 33,703	$ 36,080	$ 102,806	$ 107,198
Operating expenses:
Operating expenses	15,541	16,309	47,223	47,481
Depreciation and amortization	5,050	7,584	15,148	22,721
Total operating expenses	20,591	23,893	62,371	70,202
Operating income	13,112	12,187	40,435	36,996
Interest expense	(19,422)	(18,999)	(57,840)	(56,363)
Net loss	$ (6,310)	$ (6,812)	$ (17,405)	$ (19,367)

Common Stock - Additional Infor

Common Stock - Additional Information (Detail) - $ / shares	Nov. 17, 2020	Nov. 02, 2020	Aug. 19, 2020	May 19, 2020	Mar. 16, 2020	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Liquidating distributions per common share	$ 0.25
Common Stock [Member]
Class of Stock [Line Items]
Common stock shares outstanding						16,791,769	16,791,769
Liquidation Value [Member]
Class of Stock [Line Items]
Aggregate liquidating distributions per share						$ 60.26
Liquidating distributions per common share		$ 0.25	$ 0.25	$ 0.10	$ 0.10	$ 21.81
Liquidation Value [Member] | Common Stock [Member]
Class of Stock [Line Items]
Common stock shares outstanding						16,791,769

Related Party Transactions an_2

Related Party Transactions and Arrangements - Additional Information (Detail) - USD ($)	Oct. 30, 2020	Mar. 31, 2017	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Mar. 01, 2017
Asset Management Fees [Member]
Related Party Transaction [Line Items]
Fees paid to related parties	$ 83,333
Winthrop Advisor and its Affiliates [Member]
Related Party Transaction [Line Items]
Fees paid to related parties			$ 317,000	$ 350,000	$ 1,017,000	$ 1,050,000
Liquidation Value [Member] | Advisor [Member]
Related Party Transaction [Line Items]
Cost of assets maximum								$ 3,000,000,000
Liquidation Value [Member] | Advisor [Member] | Post Liquidation Date Agreement Monthly Supplemental Fee [Member]
Related Party Transaction [Line Items]
Fees paid to related parties					100,000
Liquidation Value [Member] | Advisor [Member] | Post Liquidation Date Agreement Quarterly Supplemental Fee [Member]
Related Party Transaction [Line Items]
Fees paid to related parties					50,000
Liquidation Value [Member] | Advisor [Member] | Pre Liquidation Date Agreement Quarterly Supplemental Fee [Member]
Related Party Transaction [Line Items]
Fees paid to related parties						$ 25,000
Liquidation Value [Member] | Service Provider and Affiliates [Member]
Related Party Transaction [Line Items]
Asset management fees as a percentage of benchmark								0.325%
Cost of assets maximum								$ 3,000,000,000
Asset management fees earned above								0.25%
Incentive fee, percentage of excess of hurdle amount		10.00%
Hurdle amount (in dollars per share)		$ 110
Liquidation Value [Member] | Winthrop Advisor and its Affiliates [Member] | Asset Management Fees [Member]
Related Party Transaction [Line Items]
Asset management fees			$ 1,200,000		$ 1,200,000		$ 1,400,000