New York REIT Liquidating (NYRT) 10-Q 14 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	9-May-14
Entity Registrant Name	'New York REIT, Inc.	'
Entity Central Index Key	'0001474464	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	176,339,377

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Real estate investments, at cost:	'	'
Land	$425,814	$425,814
Buildings, fixtures and improvements	990,466	989,145
Acquired intangible lease assets	127,004	127,846
Total real estate investments, at cost	1,543,284	1,542,805
Less accumulated depreciation and amortization	-61,958	-41,183
Total real estate investments, net	1,481,326	1,501,622
Cash and cash equivalents	237,022	233,377
Restricted cash	1,720	1,122
Investment securities, at fair value	1,172	1,048
Investments in unconsolidated joint ventures	229,127	234,774
Preferred equity investment	30,000	30,000
Derivatives, at fair value	429	490
Receivable for sale of common stock	0	11,127
Prepaid expenses and other assets	24,367	21,404
Deferred costs, net	14,900	13,341
Total assets	2,020,063	2,048,305
LIABILITIES AND EQUITY	'	'
Mortgage notes payable	172,599	172,716
Credit facility	305,000	305,000
Market lease liabilities, net	69,897	73,029
Derivatives, at fair value	940	875
Accounts payable and accrued expenses	26,708	30,703
Deferred rent and other liabilities	6,747	7,997
Distributions payable	9,029	8,726
Total liabilities	590,920	599,046
Common stock, $0.01 par value; 300,000,000 shares authorized, 175,614,861 and 174,120,408 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	1,756	1,741
Additional paid-in capital	1,547,889	1,533,698
Accumulated other comprehensive loss	-615	-613
Accumulated deficit	-120,329	-86,008
Total stockholders' equity	1,428,701	1,448,818
Non-controlling interests	442	441
Total equity	1,429,143	1,449,259
Total liabilities and equity	2,020,063	2,048,305
Preferred Shares	'	'
LIABILITIES AND EQUITY	'	'
Preferred stock	0	0
Convertible Preferred Stock	'	'
LIABILITIES AND EQUITY	'	'
Preferred stock	$0	$0

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	175,614,861	174,120,408
Common stock, shares outstanding (in shares)	175,614,861	174,120,408
Preferred Shares	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	40,866,376	40,866,376
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Convertible Preferred Stock	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	9,133,624	9,133,624
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues:	'	'
Rental income	$27,171	$7,674
Operating expense reimbursements and other revenue	6,421	653
Total revenues	33,592	8,327
Operating expenses:	'	'
Property operating	14,005	1,737
Operating fees to affiliates	0	0
Acquisition and transaction related	69	2,800
General and administrative	1,361	160
Depreciation and amortization	24,254	4,286
Total operating expenses	39,689	8,983
Operating loss	-6,097	-656
Other income (expenses):	'	'
Interest expense	-3,939	-2,146
Income from unconsolidated joint venture	1,257	0
Income from preferred equity investment and investment securities	623	0
Interest income	1	0
Total other expenses	-2,058	-2,146
Net loss	-8,155	-2,802
Net loss (income) attributable to non-controlling interests	-1	8
Net loss attributable to stockholders	-8,156	-2,794
Other comprehensive income (loss):	'	'
Designated derivatives, fair value adjustment	-126	178
Unrealized gain on investment securities	124	0
Comprehensive loss attributable to stockholders	($8,158)	($2,616)
Net loss per share attributable to stockholders, basic and diluted (in dollars per share)	($0.05)	($0.12)

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (USD $)	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss)	Accumulated Deficit	Stockholders' Equity	Non- controlling Interests
In Thousands, except Share data, unless otherwise specified
Beginning Balance at Dec. 31, 2013	$1,449,259	$1,741	$1,533,698	($613)	($86,008)	$1,448,818	$441
Beginning Balance (in shares) at Dec. 31, 2013	'	174,120,408	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Issuance of common stock (in shares)	'	16,944	'	'	'	'	'
Issuances of common stock	164	'	164	'	'	164	'
Common stock offering costs, commissions and dealer manager fees	-8	'	-8	'	'	-8	'
Common stock issued through distribution reinvestment plan (in shares)	'	1,482,509	'	'	'	'	'
Common stock issued though distribution reinvestment plan	14,084	15	14,069	'	'	14,084	'
Common stock repurchases	-50	'	-50	'	'	-50	'
Share-based compensation (in shares)	'	-5,000	'	'	'	'	'
Share-based compensation	16	'	16	'	'	16	'
Distributions declared	-26,165	'	'	'	-26,165	-26,165	'
Net income (loss)	-8,155	'	'	'	-8,156	-8,156	1
Other comprehensive income	-2	'	'	-2	'	-2	'
Ending Balance at Mar. 31, 2014	$1,429,143	$1,756	$1,547,889	($615)	($120,329)	$1,428,701	$442
Ending Balance (in shares) at Mar. 31, 2014	'	175,614,861	'	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net loss attributable to stockholders	($8,156)	($2,794)
Adjustments to reconcile net loss attributable to stockholders to net cash provided by (used in) operating activities:	'	'
Depreciation	19,028	3,153
Amortization of intangibles	5,226	1,133
Amortization of deferred financing costs	726	375
Accretion of market lease liabilities and amortization of above-market lease assets, net	-2,454	-71
Net loss (income) attributable to non-controlling interests	1	-8
Share-based compensation	16	25
Equity in income of unconsolidated joint ventures	-1,257	0
Changes in assets and liabilities:	'	'
Prepaid expenses and other assets	-2,976	-1,892
Accounts payable and accrued expenses	-4,339	-2,158
Deferred rent and other liabilities	-1,250	320
Net cash provided by (used in) operating activities	4,565	-1,917
Cash flows from investing activities:	'	'
Investment in real estate and other assets	0	-51,157
Additional investment in unconsolidated joint venture	-273	0
Capital expenditures	-1,427	-187
Distributions from unconsolidated joint venture	3,936	0
Net cash provided by (used in) investing activities	2,236	-51,344
Cash flows from financing activities:	'	'
Payments on mortgage notes payable	-117	-12,512
Proceeds from issuance of common stock	11,291	76,384
Repurchases of common stock	-506	-426
Payments of offering costs and fees related to stock issuances	-1,419	-8,112
Payments of deferred financing costs	-29	-400
Distributions paid	-11,778	-1,592
Due from affiliate	0	-25
Distributions to non-controlling interest holders	0	-17
Restricted cash	-598	-405
Net cash provided by (used in) financing activities	-3,156	52,895
Net increase (decrease) in cash and cash equivalents	3,645	-366
Cash and cash equivalents, beginning of period	233,377	5,354
Cash and cash equivalents, end of period	237,022	4,988
Supplemental disclosures:	'	'
Cash paid for interest	3,283	1,415
Non-cash investing and financing activities:	'	'
Mortgage notes payable used to acquire investments in real estate	0	60,000
Common stock issued through distribution reinvestment plan	$14,084	$1,502

Organization

Organization	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization	'
	Organization
	New York REIT, Inc. (the "Company"), formerly known as American Realty Capital New York Recovery REIT, Inc., focuses on acquiring and owning income-producing commercial real estate in New York City, primarily office and retail properties located in Manhattan. To add diversity to the portfolio, the Company may also acquire multifamily, industrial, hotel and other types of real properties as well as originate or acquire first mortgage loans, mezzanine loans, or preferred equity positions related to New York City real estate. The Company purchased its first property and commenced active operations in June 2010. As of March 31, 2014, the Company owned 23 properties and real estate-related assets.
	In September 2010, the Company commenced its initial public offering (the "IPO") on a "reasonable best efforts" basis of up to 150.0 million shares of common stock at a price of $10.00 per share, subject to certain volume and other discounts. The Company's IPO closed in December 2013. The Company operated as a non-traded real estate investment trust ("REIT") through April 14, 2014. On April 15, 2014, the Company listed its common stock on the New York Stock Exchange ("NYSE") under the symbol "NYRT" (the "Listing").
	The Company, incorporated on October 6, 2009, is a Maryland corporation that qualified as a REIT for U.S. federal income tax purposes beginning with the taxable year ended December 31, 2010.  Substantially all of the Company's business is conducted through New York Recovery Operating Partnership, L.P. (the "OP"), a Delaware limited partnership. The Company has no employees.  The Company has retained New York Recovery Advisors, LLC (the "Advisor") to manage its affairs on a day-to-day basis. New York Recovery Properties, LLC (the "Property Manager") serves as the Company's property manager, unless services are performed by a third party for specific properties.  Realty Capital Securities, LLC (the "Dealer Manager") served as the dealer manager of the IPO and continues to provide the Company with various strategic investment banking services.  The Advisor and the Property Manager are indirect wholly owned entities of, and the Dealer Manager is under common ownership with, American Realty Capital III, LLC (the "Sponsor"), as a result of which, they are related parties and receive compensation, fees and expense reimbursements for services related to the investment and management of the Company's assets.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	The accompanying consolidated financial statements of the Company included herein were prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to the Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The information furnished includes all adjustments and accruals of a normal recurring nature, which, in the opinion of management, are necessary for a fair presentation of results for the interim periods. All intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the three months ended March 31, 2014 are not necessarily indicative of the results for the entire year or any subsequent interim period.
	These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto as of, and for the year ended December 31, 2013, which are included in the Company's Annual Report on Form 10-K filed with the SEC on February 28, 2014. There have been no significant changes to the Company's significant accounting policies during the three months ended March 31, 2014, other than the updates described below and the subsequent notes.
	Recent Accounting Pronouncements
	In February 2013, the FASB issued new accounting guidance clarifying the accounting and disclosure requirements for obligations resulting from joint and several liability arrangements for which the total amount under the arrangement is fixed at the reporting date. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.
	In March 2013, the FASB issued new accounting guidance clarifying the accounting for the release of cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity.  The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.
	In April 2014, the FASB amended the requirements for reporting discontinued operations. Under the revised guidance, in addition to other disclosure requirements, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results when the component or group of components meets the criteria to be classified as held for sale, disposed of by sale or other than by sale. The Company has adopted the provisions of this guidance effective January 1, 2014, and have applied the provisions prospectively. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.

Real_Estate_Investments

Real Estate Investments	3 Months Ended
	Mar. 31, 2014
Real Estate [Abstract]	'
Real Estate Investments	'
	Real Estate Investments
	The following table presents the allocation of the assets acquired and liabilities assumed during the three months ended March 31, 2013. There were no assets acquired and liabilities assumed during the three months ended March 31, 2014.
		Three Months Ended
	(Dollar amounts in thousands)	March 31, 2013
	Real estate investments, at cost:
	Land	$	17,500
	Buildings, fixtures and improvements	90,869
	Total tangible assets	108,369
	Acquired intangibles:
	In-place leases	8,214
	Above-market lease assets	1,593
	Below-market lease liabilities	(6,176		)
	Total acquired intangibles	3,631
	Total assets acquired, net	112,000
	Mortgage notes payable used to acquire investments in real estate	(60,000		)
	Other liabilities assumed	(843		)
	Cash paid for acquired real estate investments and other assets	$	51,157
	Number of properties and other investments purchased	1
	The following table presents future minimum base cash rental payments due to the Company, excluding future minimum base cash rental payments related to unconsolidated joint ventures, subsequent to March 31, 2014.  These amounts exclude contingent rental payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indexes among other items.
	(In thousands)	Future Minimum
		Base Rent Payments
	April 1, 2014 - December 31, 2014	$	66,675
	2015	87,673
	2016	73,919
	2017	71,276
	2018	68,627
	Thereafter	447,121
		$	815,291
	The following table lists the tenants whose annualized rental income on a straight-line basis represented greater than 10% of total annualized rental income for all portfolio properties on a straight-line basis as of March 31, 2014 and 2013:
				March 31,
	Property Portfolio	Tenant		2014	2013
	Worldwide Plaza	Cravath, Swaine & Moore, LLP		18.20%	*
	Worldwide Plaza	Nomura Holding America, Inc.		12.40%	*
	229 West 36th Street	American Language Communication Center, Inc.		*	10.50%
	_____________________
	* Tenant's annualized rental income on a straight-line basis was not greater than 10% of total annualized rental income for all portfolio properties as of the period specified.
	The termination, delinquency or non-renewal of any of the above tenants may have a material adverse effect on revenues. No other tenant represents more than 10% of annualized rental income as of March 31, 2014 and 2013.

Investment_in_Unconsolidated_J

Investment in Unconsolidated Joint Venture	3 Months Ended
	Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Equity Method Investments and Joint Venture	'
	Investment in Unconsolidated Joint Venture
	On October 30, 2013, the Company purchased a 48.9% equity interest in WWP Holdings, LLC ("Worldwide Plaza") for a contract purchase price of $220.1 million. The purchase price reflected an agreed value for Worldwide Plaza of $1,325.0 million less $875.0 million of debt on the property. The debt on the property has a weighted average interest rate of 4.6% and matures in March 2023. The Company accounts for the investment in Worldwide Plaza using the equity method of accounting, because the Company exercises significant influence over, but does not control the entity. As of March 31, 2014, the carrying value of the Company's investment in Worldwide Plaza was $229.1 million.
	Pursuant to the terms of the membership agreement relating to the Company’s purchase of the 48.9% equity interest in Worldwide Plaza, the Company retains an option to purchase the balance of the equity interest in Worldwide Plaza beginning 38 months following the closing of the acquisition at an agreed value of $1.4 billion, subject to certain adjustments, including adjustments for certain loans that are outstanding at the time of any exercise and adjustments for the percentage equity interest being acquired.
	At acquisition, the Company's investment in Worldwide Plaza exceeded the Company's share of the book value of the net assets of Worldwide Plaza by $260.6 million. This basis difference resulted from the excess of the Company's purchase price for the interest in the Worldwide Plaza over the book value of Worldwide Plaza's net assets. Substantially all of this basis difference was allocated, based on the Company's estimates of the fair values of Worldwide Plaza's assets and liabilities, to real estate (land and buildings). The Company amortizes the basis difference over the anticipated useful lives of the underlying tangible and intangible assets acquired and liabilities assumed.
	During the three months ended March 31, 2014, $3.2 million was recorded in depreciation and amortization expense in the consolidated statements of operations and comprehensive loss relating to the amortization of the basis difference. The basis difference related to the land will be recognized upon disposition of the Company's investment. During the three months ended March 31, 2014, the Company recorded $1.3 million of income related to its investment in Worldwide Plaza, which represents $3.9 million of preferred distributions earned, net of the Company's pro-rata share of Worldwide Plaza's net loss during the same period. Worldwide Plaza's net loss during the period is adjusted for the preferred distribution to the Company and distributions to the Company's partner in the joint venture. The income related to the Company's investment in Worldwide Plaza is included in other income (expenses) on the consolidated statements of operations and comprehensive loss.
	The amounts reflected in the following tables (except for the Company’s share of equity and income) are based on the historical financial information of Worldwide Plaza. The Company does not record losses of the joint venture in excess of its investment balance unless the Company is liable for the obligations of the joint venture or is otherwise committed to provide financial support to the joint venture.
	The condensed balance sheets as of March 31, 2014 and December 31, 2013 for Worldwide Plaza are as follows:
	(In thousands)	March 31,			December 31,
		2014			2013
	Real estate assets, at cost	$	696,426		$	696,342
	Less accumulated depreciation and amortization	(82,635		)	(77,919		)
	Total real estate assets, net	613,791			618,423
	Other assets	247,705			248,048
	Total assets	$	861,496		$	866,471
	Debt	$	875,000		$	875,000
	Other liabilities	10,294			9,923
	Total liabilities	885,294			884,923
	Deficit	(23,798		)	(18,452		)
	Total liabilities and deficit	$	861,496		$	866,471
	Company's basis	$	229,127		$	234,774
	The condensed statement of operations for the three months ended March 31, 2014 for Worldwide Plaza is as follows:
		Three Months Ended
	(In thousands)	March 31, 2014
	Rental income	$	27,655
	Other revenue	1,215
	Total revenue	28,870
	Operating expenses:
	Operating expense	11,513
	Depreciation and amortization	6,368
	Total operating expenses	17,881
	Operating income	10,989
	Interest expense	(9,882		)
	Net income	1,107
	Company's preferred distribution	(3,851		)
	Joint venture partner distribution	(2,560		)
	Net loss to members	$	(5,304	)
	Company's preferred distribution	$	3,851
	Company's share of net loss from Worldwide Plaza	(2,594		)
	Company's income from Worldwide Plaza	$	1,257

Investment_Securities

Investment Securities	3 Months Ended
	Mar. 31, 2014
Investment Securities [Abstract]	'
Investment Securities	'
	Investment Securities
	As of March 31, 2014, the Company had investments in redeemable preferred stock, with a fair value of $1.2 million. These investments are considered available-for-sale securities and therefore increases or decreases in the fair value of these investments are recorded in accumulated other comprehensive income as a component of equity on the consolidated balance sheets unless the securities are considered to be other than temporarily impaired at which time the losses would be reclassified to expense.
	The following table details the unrealized losses on investment securities as of March 31, 2014 and December 31, 2013:
	(In thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	31-Mar-14	$	1,288	$	—	$	(116	)	$	1,172
	31-Dec-13	$	1,288	$	—	$	(240	)	$	1,048
	Unrealized losses as of March 31, 2014 were considered temporary and therefore no impairment was recorded during the three months ended March 31, 2014.
	The Company's preferred stock investments are redeemable at the respective issuer's option after five years from issuance.

Preferred_Equity_Investment

Preferred Equity Investment	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Preferred Equity Investment	'
	Preferred Equity Investment
	As of March 31, 2014 and December 31, 2013, the Company owned a preferred equity investment in an institutional quality office building located at 123 William Street in the Financial District of Downtown Manhattan. As of March 31, 2014, the preferred equity investment had a carrying amount of $30.0 million, a five-year term maturing in October 2018, a 0.75% origination fee, a 6.0% current pay rate, and a 2.0% accrual rate (the accrual rate will increase to 2.25% after year two, 2.75% after year three, and 3.25% after year four). The Company's preferred equity investment includes potential additional capital contributions not to exceed a total preferred equity investment of $40.0 million.
	The preferred equity investment has a fixed return based on contributed capital, no participation in profits or losses of the real estate activities, and property foreclosure rights in the event of default. As such, the Company records returns earned in income from preferred equity investment and investment securities on the consolidated statements of operations. The Company assesses the investment for impairment on a periodic basis.

Credit_Facility

Credit Facility	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Credit Facility	'
	Credit Facility
	On March 30, 2012, the Company entered into a senior unsecured revolving credit facility in the amount of $40.0 million. The credit facility generally bore interest at a floating rate equal to LIBOR plus 2.50%, subject to adjustment as set forth in the credit agreement, and included an unused commitment fee per annum of (a) 0.2% if the unused balance of the facility was equal to or less than 50% of the available facility and (b) 0.3% if the unused balance of the facility exceeded 50% of the available facility. The credit facility was superseded by the following facility described below.
	On August 20, 2013, the Company entered into a $220.0 million credit facility, which provided for aggregate revolving loan borrowings of up to $110.0 million and aggregate term loan borrowings of up to $110.0 million. The credit facility contained an "accordion" feature to allow the Company, under certain circumstances, to increase the aggregate commitments under the credit facility to a maximum of $325.0 million. On December 23, 2013, the Company amended the credit facility to decrease the aggregate revolving loan borrowings to $50.0 million and increase the aggregate term loan borrowings to $340.0 million. The term loan component of the credit facility matures in August 2018 and the revolving loan component matures in August 2016.
	The Company has the option, based upon its corporate leverage, its consolidated net worth and a minimum number of properties in the borrowing base, to have the credit facility priced at either: (a) LIBOR, plus an applicable margin that ranges from 1.50% to 2.75%; or (b) the Base Rate (as defined below), plus an applicable margin that ranges from 0.50% to 1.75%. Base Rate is defined in the credit facility as the greatest of (i) the fluctuating annual rate of interest announced from time to time by the lender as its “prime rate,” (ii) 0.50% above the federal funds effective rate and (iii) 1.00% above the applicable one-month LIBOR. The outstanding balance of the term loan component of the credit facility as of March 31, 2014 and December 31, 2013 was $305.0 million with a weighted average interest rate of 2.18% and 2.19%, respectively, a portion of which is fixed with an interest rate swap. The unused borrowing capacity, based on the value of the borrowing base properties as of March 31, 2014, was $85.0 million. Availability of borrowings is based on a pool of eligible unencumbered real estate assets.
	The credit facility provides for monthly interest payments for each Base Rate loan and periodic payments for each LIBOR loan, based upon the applicable LIBOR loan period, with all principal outstanding being due on the maturity date. The credit facility may be prepaid at any time, in whole or in part, without premium or penalty. In the event of a default, the lenders have the right to terminate their obligations under the credit facility and to accelerate the payment on any unpaid principal amount of all outstanding loans.
	The credit facility requires the Company to meet certain financial covenants, including the maintenance of certain financial ratios (such as specified debt to equity and debt service coverage ratios) as well as the maintenance of a minimum net worth. As of March 31, 2014, the Company was in compliance with the debt covenants under the credit facility agreement. As described more fully in Note 18 - Subsequent Events, the credit facility commitments were subsequently increased to $705.0 million.

Mortgage_Notes_Payable

Mortgage Notes Payable	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Mortgage Notes Payable	'
	Mortgage Notes Payable
	The Company's mortgage notes payable as of March 31, 2014 and December 31, 2013 consist of the following:
					Outstanding Loan Amount
	Portfolio		Encumbered		March 31,		December 31,		Effective			Interest Rate	Maturity
			Properties		2014		2013		Interest Rate
					(In thousands)		(In thousands)
	Interior Design Building		1		$	20,487	$	20,582	4.4	%		Fixed	Dec. 2021
	Bleecker Street		3		21,300		21,300		4.3	%		Fixed	Dec. 2015
	Foot Locker		1		3,250		3,250		4.6	%		Fixed	Jun. 2016
	Regal Parking Garage		1		3,000		3,000		4.5	%		Fixed	Jul. 2016
	Duane Reade		1		8,400		8,400		3.6	%		Fixed	Nov. 2016
	Washington Street Portfolio		1		4,809		4,831		4.4	%		Fixed	Dec. 2021
	One Jackson Square		1		13,000		13,000		3.4	%	(1)	Fixed	Dec. 2016
	350 West 42nd Street		1		11,365		11,365		3.4	%		Fixed	Aug. 2017
	1100 Kings Highway		1		20,200		20,200		3.4	%	(1)	Fixed	Aug. 2017
	1623 Kings Highway		1		7,288		7,288		3.3	%	(1)	Fixed	Nov. 2017
	256 West 38th Street		1		24,500		24,500		3.1	%	(1)	Fixed	Dec. 2017
	229 West 36th Street		1		35,000		35,000		2.9	%	(1)	Fixed	Dec. 2017
			14		$	172,599	$	172,716	3.6	%	(2)
	______________________
	-1	Fixed through an interest rate swap agreement.
	-2	Calculated on a weighted average basis for all mortgages outstanding as of March 31, 2014.
	The following table summarizes the scheduled aggregate principal repayments subsequent to March 31, 2014:
	(In thousands)		Future Minimum Principal Payments
	April 1, 2014 - December 31, 2014		$	357
	2015		21,794
	2016		28,167
	2017		102,730
	2018		4,573
	Thereafter		14,978
	Total		$	172,599
	Some of the Company's mortgage notes payable agreements require compliance with certain property-level financial covenants including debt service coverage ratios. As of March 31, 2014, the Company was in compliance with the financial covenants under its mortgage note agreements.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Of Financial Instruments	'
	Fair Value of Financial Instruments
	The Company determines fair value based on quoted prices when available or through the use of alternative approaches, such as discounting the expected cash flows using market interest rates commensurate with the credit quality and duration of the investment. This alternative approach also reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The guidance defines three levels of inputs that may be used to measure fair value:
	Level 1 — Quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date.
	Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability.
	Level 3 — Unobservable inputs that reflect the entity's own assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques.
	The determination of where an asset or liability falls in the hierarchy requires significant judgment and considers factors specific to the asset or liability. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company evaluates its hierarchy disclosures each quarter and depending on various factors, it is possible that an asset or liability may be classified differently from quarter to quarter. However, the Company expects that changes in classifications between levels will be rare.
	Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with those derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties. However, as of March 31, 2014 and December 31, 2013, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of the Company's derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.
	The valuation of derivative instruments is determined using a discounted cash flow analysis on the expected cash flows. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and implied volatilities. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company's potential nonperformance risk and the performance risk of the counterparties.
	The Company has investments in redeemable preferred stock that are traded in active markets and therefore, due to the availability of quoted market prices in active markets, classified these investments as level 1 in the fair value hierarchy.
	The following table presents information about the Company's assets and liabilities (including derivatives that are presented net) measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013, aggregated by the level in the fair value hierarchy within which those instruments fall:
	(In thousands)	Quoted Prices in Active Markets				Significant Other Observable Inputs				Significant Unobservable Inputs				Total
		Level 1				Level 2				Level 3
	March 31, 2014
	Interest rate swaps, net	$	—			$	(511	)		$	—			$	(511	)
	Investment securities	$	1,172			$	—			$	—			$	1,172
	December 31, 2013
	Interest rate swaps, net	$	—			$	(385	)		$	—			$	(385	)
	Investment securities	$	1,048			$	—			$	—			$	1,048
	A review of the fair value hierarchy classification is conducted on a quarterly basis. Changes in the type of inputs may result in a reclassification for certain assets. There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the three months ended March 31, 2014.
	The Company is required to disclose the fair value of financial instruments for which it is practicable to estimate the value. The fair value of short-term financial instruments such as cash and cash equivalents, restricted cash, prepaid expenses and other assets, due from affiliates, notes payable, accounts payable and distributions payable approximates their carrying value on the consolidated balance sheet due to their short-term nature. The fair values of the Company's financial instruments that are not reported at fair value on the consolidated balance sheet are reported below.
				Carrying				Fair Value at				Carrying				Fair Value at
				Amount at								Amount at
	(In thousands)	Level		March 31, 2014				March 31, 2014				December 31, 2013				December 31, 2013
	Mortgage notes payable	3		$	172,599			$	173,277			$	172,716			$	173,427
	Credit facility	3		$	305,000			$	305,000			$	305,000			$	305,000
	Preferred equity investment	3		$	30,000			$	30,000			$	30,000			$	30,000
	The fair value of mortgage notes payable, the fixed-rate portions of term loans on the credit facility, and the preferred equity investment are estimated using a discounted cash flow analysis, based on the Advisor's experience with similar types of borrowing arrangements. Advances under the credit facility with interest rates which vary are considered to be reported at fair value.

Derivatives_and_Hedging_Activi

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivatives and Hedging Activities	'
	Derivatives and Hedging Activities
	Risk Management Objective of Using Derivatives
	The Company may use derivative financial instruments, including interest rate swaps, caps, collars, options, floors and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The principal objective of such arrangements is to minimize the risks and costs associated with the Company's operating and financial structure as well as to hedge specific anticipated transactions. The Company does not intend to utilize derivatives for speculative or other purposes other than interest rate risk management. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements will not be able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with high credit ratings and with major financial institutions with which the Company and its affiliates may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations.
	Cash Flow Hedges of Interest Rate Risk
	The Company's objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company may primarily use interest rate swaps and collars as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate collars designated as cash flow hedges involve the receipt of variable-rate amounts if interest rates rise above the cap strike rate on the contract and payments of variable-rate amounts if interest rates fall below the floor strike rate on the contract.
	The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The Company uses such derivatives to hedge the variable cash flows associated with variable-rate debt.
	Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company's variable-rate debt. During the next 12 months, the Company estimates that an additional $2.1 million will be reclassified from other comprehensive income as an increase to interest expense.
	As of March 31, 2014 and December 31, 2013, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk.
		March 31, 2014						December 31, 2013
	Interest Rate Derivative	Number of		Notional Amount				Number of		Notional Amount
		Instruments						Instruments
				(In thousands)						(In thousands)
	Interest rate swaps	6		$	179,988			6		$	179,988
	The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of March 31, 2014 and December 31, 2013:
	(In thousands)	Balance Sheet Location		March 31, 2014				December 31, 2013
	Derivatives designated as hedging instruments:
	Interest rate swaps	Derivative assets, at fair value		$	429			$	490
	Interest rate swaps	Derivative liabilities, at fair value		$	(940	)		$	(875	)
	Derivatives in Cash Flow Hedging Relationships
	The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three months ended March 31, 2014 and 2013:
		Three Months Ended March 31,
	(In thousands)	2014				2013
	Amount of loss recognized in accumulated other comprehensive loss from interest rate derivatives (effective portion)	$	(656	)		$	(35	)
	Amount of loss reclassified from accumulated other comprehensive loss into income as interest expense (effective portion)	$	(530	)		$	(213	)
	Amount of income (loss) recognized in gain (loss) on derivative instruments (ineffective portion and amount excluded from effectiveness testing)	$	—			$	—
	Offsetting Derivatives
	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of March 31, 2014 and December 31, 2013. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying balance sheets.
													Gross Amounts Not Offset on the Balance Sheet
	Derivatives (In thousands)	Gross Amounts of Recognized Assets				Gross Amounts of Recognized Liabilities				Net Amounts of Assets (Liabilities) presented on the Balance Sheet			Financial Instruments		Cash Collateral Posted		Net Amount
	March 31, 2014	$	429			$	(940	)		$	(511	)	$	—	$	—	$	(511	)
	December 31, 2013	$	490			$	(875	)		$	(385	)	$	—	$	—	$	(385	)
	Derivatives Not Designated as Hedges
	Derivatives not designated as hedges are not speculative. These derivatives are used to manage the Company's exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements to be classified as hedging instruments. The Company does not have any hedging instruments that do not qualify for hedge accounting.
	Credit-risk-related Contingent Features
	The Company has agreements with its derivative counterparties that contain a provision whereby if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations.
	As of March 31, 2014, the fair value of derivatives in a net liability position including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $1.1 million. As of March 31, 2014, the Company has not posted any collateral related to its agreements and was not in breach of any agreement provisions. If the Company had breached any of these provisions, it could have been required to settle its obligations under the agreements at the aggregate termination value of $1.1 million at March 31, 2014.

Common_Stock

Common Stock	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity Note [Abstract]	'
Common Stock	'
	Common Stock
	As of March 31, 2014 and December 31, 2013, the Company had 175.6 million and 174.1 million shares of common stock outstanding, respectively, including unvested restricted stock, converted preferred shares and shares issued under the distribution reinvestment plan (the "DRIP").
	In September 2010, the Company's board of directors authorized, and the Company declared, a distribution rate equal to $0.605 per annum per share of common stock, commencing December 1, 2010.  The distributions are paid by the fifth day following each month end to stockholders of record at the close of business each day during the prior month at a per share rate of 0.0016575342 per day. The board of directors may reduce the amount of distributions paid or suspend distribution payments at any time and therefore distribution payments are not assured.
	On March 31, 2014, the Company provided notice to its stockholders that, pursuant to the terms of the DRIP, the board of directors approved an amendment to the DRIP that enables the Company to suspend the DRIP. Subsequently, the board of directors approved the suspension of the DRIP, effective March 31, 2014. The final issuance of shares of common stock pursuant to the DRIP in connection with the Company’s March 2014 distribution was paid in April 2014.
	On March 31, 2014, the board of directors approved the termination of the Company’s Share Repurchase Program (“SRP”). The Company processed all of the requests received under the SRP in the first quarter of 2014 and will not process further requests.
	The following table reflects the cumulative number of common shares repurchased as of December 31, 2013 and as of and for the three months ended March 31, 2014:
		Number of Requests	Number of Shares Repurchased	Average Price per Share
	Cumulative repurchases as of December 31, 2013	35	279,594	$	9.63
	Three months ended March 31, 2014	1	5,000	10
	Cumulative repurchases as of March 31, 2014 (1)	36	284,594	$	9.63
	__________________________
	-1	Includes one unfulfilled repurchase request consisting of 5,000 shares at a price per share of $10.00, which were approved for repurchase as of March 31, 2014 and paid in May 2014. This liability is included in accounts payable and accrued expenses on the Company's consolidated balance sheets.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	Future Minimum Lease Payments
	The Company entered into lease agreements related to certain acquisitions under leasehold interest arrangements. The following table reflects the minimum base rental cash payments due from the Company over the next five years and thereafter under these arrangements. These amounts exclude contingent rent payments, as applicable, that may be payable based on provisions related to increases in annual rent based on exceeding certain economic indexes among other items.
	(In thousands)	Future Minimum Base Rent Payments
	April 1, 2014 - December 31, 2014	$	2,540
	2015	4,555
	2016	4,991
	2017	4,991
	2018	5,175
	Thereafter, 2019 - 2050	260,549
		$	282,801
	Litigation
	On October 15, 2013, RXR WWP Owner LLC (“RXR”) filed a lawsuit in the Supreme Court of the State of New York, New York County, against American Realty Capital Properties, Inc. and the Company (collectively, the “ARC Parties”) alleging that, under an agreement that RXR entered into with the co-defendant WWP Sponsor LLC dated May 30, 2013 (the “May 30 Agreement”), RXR was entitled to acquire a 48.9% equity interest in the indirect owner of Worldwide Plaza. RXR claimed that the ARC Parties are liable for breach of a confidentiality agreement, tortious interference with the May 30 Agreement and tortious interference with prospective business relations. RXR moved for a preliminary injunction barring the defendants from consummating the Worldwide Plaza transaction. On October 30, 2013, the Court denied RXR’s preliminary injunction motion, and the transaction was thereafter consummated. On November 21, 2013 RXR filed an amended complaint adding the ARC Parties as parties to a permanent injunction claim that was previously asserted solely against the ARC Parties’ co-defendants. The ARC Parties filed a motion to dismiss the amended complaint on December 11, 2013. The motion was fully briefed on February 28, 2014. The court has set a date of May 8, 2014 to hear oral arguments on the motion to dismiss. RXR seeks damages against the ARC Parties of no less than $200.0 million. The Company believes that such lawsuit is without merit, but the ultimate outcome of such matter cannot be predicted. While losses and legal expenses may be incurred, an estimate of the range of potential losses cannot be made, and no provisions for such losses have been recorded in the accompanying consolidated financial statements for the three months ended March 31, 2014. As of March 31, 2014, there were no other material legal proceedings pending or known to be contemplated against the Company.
	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 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, liability or other claim, and is not aware of any other environmental condition that it believes will have a material adverse effect on the consolidated results of operations.

Related_Party_Transactions_and

Related Party Transactions and Arrangements	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions and Arrangements	'
	Related Party Transactions and Arrangements
	New York Recovery Special Limited Partnership, LLC (the "SLP"), an entity controlled by the Sponsor, owned 20,000 shares of the Company's outstanding common stock as of March 31, 2014 and December 31, 2013.
	Fees Paid in Connection with the IPO
	The Dealer Manager and the Sponsor received fees and compensation in connection with the sale of the Company's common stock in the IPO. The Dealer Manager received a selling commission of up to 7.0% of gross offering proceeds before reallowance of commissions earned by participating broker-dealers. In addition, the Dealer Manager was permitted to re-allow a portion of its dealer manager fee to such participating broker-dealers, based on such factors as the volume of shares sold by respective participating broker-dealers and marketing support provided as compared to other participating broker-dealers. The following table details total selling commissions and dealer manager fees incurred and payable to the Dealer Manager related to the sale of common stock as of and for the periods presented:
		Three Months Ended				Payable as of
		March 31,				March 31,		December 31,
	(In thousands)	2014		2013		2014		2013
	Total commissions and fees incurred from Dealer Manager	$	8	$	7,160	$	—	$	857
	The Advisor and its affiliates received compensation and reimbursement for services provided in connection with the IPO. Effective March 1, 2013, the Company began utilizing transfer agent services provided by an affiliate of the Dealer Manager. All offering costs related to the IPO incurred by the Company, or its affiliated entities, on behalf of the Company were charged to additional paid-in capital on the accompanying consolidated balance sheets. The following table details offering costs reimbursements incurred and payable to the Advisor and Dealer Manager related to the IPO as of and for the periods presented:
		Three Months Ended				Payable as of
		March 31,				March 31,		December 31,
	(In thousands)	2014		2013		2014		2013
	Fees and expense reimbursements from the Advisor and Dealer Manager	$	—	$	696	$	—	$	416
	Fees Paid in Connection With the Operations of the Company
	The Advisor receives an acquisition fee of 1.0% of the contract purchase price of each acquired property and 1.0% of the amount advanced for a loan or other investment. Additionally, the Company reimburses the Advisor for expenses incurred for services provided by third parties and incurs acquisition expenses directly from third parties. The Company expects third-party acquisition expenses to be approximately 0.5% of the purchase price of each property and 0.5% of the amount advanced for a loan or other investment. In no event will the total of all acquisition fees, acquisition expenses and any financing coordination fees (as described below) payable with respect to the Company's portfolio of investments or reinvestments exceed 4.5% of the contract purchase price of the Company's portfolio to be measured at the close of the acquisition phase or 4.5% of the amount advanced for all loans or other investments. See Note 18 - Subsequent Events for changes to this arrangement.
	The Company pays the Advisor an asset management fee equal to 0.75% per annum of the cost of the Company's assets (cost includes the purchase price, acquisition expenses, capital expenditures and other customarily capitalized costs, but excludes acquisition fees) plus costs and expenses incurred by the Advisor in providing asset management services; provided, however, that the asset management fee is reduced by any amounts payable to the Property Manager as an oversight fee, such that the aggregate of the asset management fee and the oversight fee does not exceed 0.75% per annum of the cost of the Company's assets plus costs and expenses incurred by the Advisor in providing asset management services. As payment for this arrangement, the Company issued (subject to periodic approval by the board of directors) to the Advisor performance-based restricted partnership units of the OP designated as "Class B units," which were intended to be profits interests and would vest, and no longer be subject to forfeiture, at such time as: (x) the value of the OP's assets plus all distributions made equals or exceeds the total amount of capital contributed by investors plus a 6.0% cumulative, pre-tax, non-compounded annual return thereon (the "economic hurdle"); (y) any one of the following occurs: (1) the termination of the advisory agreement by an affirmative vote of a majority of the Company's independent directors without cause; (2) a listing; or (3) another liquidity event; and (z) the Advisor is still providing advisory services to the Company (the "performance condition"). The value of issued Class B units was determined and expensed when the Company deemed the achievement of the performance condition was probable. As of April 15, 2014, in aggregate, the board of directors had approved the issuance of 1,188,667 Class B units to the Advisor in connection with this arrangement. As of March 31, 2014, the Company could not determine the probability of achieving the performance condition, as such, no expense was recognized in connection with this arrangement during the three months ended March 31, 2014. The performance condition related to these Class B units was satisfied upon completion of the Listing, which resulted in $11.5 million of expense on April 15, 2014. On April 15, 2014, the Class B units were converted to OP units on a one-to-one basis. The Advisor received distributions on unvested Class B units equal to the distribution rate received on the Company's common stock. Such distributions on issued Class B units are included in general and administrative expenses in the consolidated statement of operations and comprehensive loss.
	Unless the Company contracts with a third party, the Company will pay the Property Manager a property management fee equal to: (i) for non-hotel properties, 4.0% of gross revenues from the properties managed, plus market-based leasing commissions; and (ii) for hotel properties, a market-based fee based on a percentage of gross revenues.  The Company will also reimburse the Property Manager for property-level expenses.  The Property Manager may subcontract the performance of its property management and leasing services duties to third parties and pay all or a portion of its property management fee to the third parties with whom it contracts for these services. If the Company contracts directly with third parties for such services, the Company will pay them customary market fees and will pay the Property Manager an oversight fee equal to 1.0% of the gross revenues of the property managed.
	If the Advisor provides services in connection with the origination or refinancing of any debt that the Company obtains and uses to acquire assets, or that is assumed, directly or indirectly, in connection with the acquisition of assets, the Company will pay the Advisor a financing coordination fee equal to 0.75% of the amount available or outstanding under such financing or such assumed debt. See Note 18 - Subsequent Events for changes to this arrangement.
	Effective March 1, 2013, the Company entered into an agreement with the Dealer Manager to provide strategic advisory services and investment banking services required in the ordinary course of the Company's business, such as performing financial analysis, evaluating publicly traded comparable companies and assisting in developing a portfolio composition strategy, a capitalization structure to optimize future liquidity options and structuring operations. Strategic advisory fees were amortized over a six month period beginning in April 2013, the estimated remaining term of the IPO as of the date of the agreement. The Dealer Manager and its affiliates also provide transfer agency services, as well as transaction management and other professional services. These fees are also included in general and administrative expenses on the consolidated statements of operations and comprehensive loss during the period the service was provided.
	The following table details amounts incurred, forgiven and contractually due in connection with the operations related services described above as of and for the periods presented:
		Three Months Ended March 31,								Payable as of
		2014				2013				March 31,		December 31,
	(In thousands)	Incurred		Forgiven		Incurred		Forgiven		2014		2013
	One-time fees and reimbursements:
	Acquisition fees and related cost reimbursements	$	—	$	—	$	1,687	$	—	$	—	$	—
	Financing coordination fees	—		—		450		—		—		—
	Ongoing fees:
	Transfer agent and other professional fees	586		—		—		—		242		—
	Property management and leasing fees	—		374		—		186		—		—
	Strategic advisory fees	—		—		151		—		—		—
	Distributions on Class B units	88		—		28		—		—		—
	Total related party operational fees and reimbursements	$	674	$	374	$	2,316	$	186	$	242	$	—
	The Company will reimburse the Advisor's costs and expenses of providing services, subject to the limitation that it will not reimburse the Advisor for any amount by which the Company's total operating expenses (as defined in the Company's charter and advisory agreement) for the four preceding fiscal quarters exceeds the greater of (a) 2.0% of average invested assets and (b) 25.0% of net income other than any additions to reserves for depreciation, bad debt or other similar non cash reserves and excluding any gain from the sale of assets for that period.  Additionally, the Company will not reimburse the Advisor for personnel costs in connection with services for which the Advisor receives a separate fee.  No reimbursement was incurred from the Advisor for providing administrative services for the three months ended March 31, 2014 or 2013.
	In order to improve operating cash flows and the ability to pay distributions from operating cash flows, the Advisor agreed to waive certain fees including property management fees. Because the Advisor waived certain fees, cash flow from operations that would have been paid to the Advisor was available to pay distributions to stockholders.  The fees that were forgiven are not deferrals and accordingly, will not be paid to the Advisor in cash. Additionally, to improve the Company's working capital, the Advisor may elect to absorb a portion of the Company's expenses. The following table details property operating and general and administrative expenses absorbed by the Advisor during the three months ended March 31, 2014 and 2013. These costs are presented net in the accompanying consolidated statements of operations and comprehensive loss.
		Three Months Ended March 31,
	(In thousands)	2014		2013
	Property operating expenses absorbed	$	—	$	—
	General and administrative expenses absorbed	—		350
	Total expenses absorbed	$	—	$	350
	The Company had no receivables from affiliates at March 31, 2014 and December 31, 2013 related to absorbed property operating and general and administrative expenses.
	Fees Paid in Connection with the Liquidation or Listing of the Company's Real Estate Assets
	In December 2013, the Company entered into a transaction management agreement with RCS Advisory Services, LLC, an entity owned by the Dealer Manager, to provide strategic alternatives transaction management services through the occurrence of a liquidity event and a-la-carte services thereafter. The Company agreed to pay $3.0 million pursuant to this agreement. For the three months ended March 31, 2014, the Company incurred $1.5 million of expenses pursuant to this agreement, including amounts for services provided in preparation for the Listing, and is included in deferred costs and in accounts payable and accrued expenses on the accompanying consolidated balance sheet. The Company incurred $1.5 million in fees pursuant to this arrangement during the year ended December 31, 2013 which were included in acquisition and transaction related costs in the consolidated statement of operations. Thus, the Company does not owe the Dealer Manager any more fees pursuant to this agreement.
	In December 2013, the Company entered into an information agent and advisory services agreement with the Dealer Manager and American National Stock Transfer, LLC, an entity owned by the Dealer Manager, to provide in connection with a liquidity event, advisory services, educational services to external and internal wholesalers, communication support as well as proxy, tender offer or redemption and solicitation services. The Company agreed to pay $1.9 million pursuant to this agreement. For the three months ended March 31, 2014, the Company incurred $0.6 million of expenses pursuant to this agreement, which includes amounts for services provided in preparation for the Listing and Tender Offer (described in Note 18 - Subsequent Events), and is included in deferred costs and in accounts payable and accrued expenses on the accompanying consolidated balance sheet. The Company incurred $0.6 million in fees pursuant to this arrangement during the year ended December 31, 2013 which were included in acquisition and transaction related costs in the consolidated statement of operations. The Company incurred the remaining $0.7 million pursuant to this agreement in April 2014.
	In December 2013, the Company entered into an agreement with RCS Capital, LLC, the investment banking and capital markets division of the Dealer Manager, for strategic and financial advice and assistance in connection with (i) a possible sale transaction involving the Company (ii) the possible listing of the Company’s securities on a national securities exchange, and (iii) a possible acquisition transaction involving the Company. The Dealer Manager will receive a transaction fee equal to 0.25% of the transaction value in connection with the possible sale transaction, listing or acquisition. No such fees were incurred or paid for the three months ended March 31, 2014. In April 2014, in connection with the Listing, the Company incurred and paid $6.9 million in connection with this agreement.
	For substantial assistance in connection with the sale of properties, the Company will pay the Advisor a property disposition fee, not to exceed the lesser of 2.0% of the contract sale price of the property and 50% of the competitive real estate commission paid if a third party broker is also involved; provided, however that in no event may the property disposition fee paid to the Advisor when added to real estate commissions paid to unaffiliated third parties exceed the lesser of 6.0% of the contract sales price and a competitive real estate commission. For purposes of the foregoing, "competitive real estate commission" means a real estate brokerage commission for the purchase or sale of a property which is reasonable, customary and competitive in light of the size, type and location of the property. No such fees were incurred or paid for the three months ended March 31, 2014 and 2013.
	In connection with the Listing, the Company, as the general partner of the OP, was required, subject to the terms of the Fourth Amended and Restated Limited Partnership Agreement, to cause the OP to redeem the SLP's interest in the OP by issuing a note equal to 15% of the amount, if any, by which (a) the average market value of the Company’s outstanding common stock for the period 180 days to 210 days after Listing, plus distributions paid by the Company prior to Listing, exceeds (b) the sum of the total amount of capital raised from stockholders during the Company’s prior offering and the amount of cash flow necessary to generate a 6% annual cumulative, non-compounded return to such stockholders. The note gives the SLP the right to receive distributions of net sales proceeds until the note is paid in full; provided that, the SLP has the right, but not the obligation to convert all, or a portion of the SLP interest into OP units. OP units are convertible into shares of the Company's common stock in accordance with the terms governing conversion of OP units into shares of common stock.
	Upon termination of the advisory agreement, an affiliate of the Advisor shall be entitled to a subordinated termination fee payable in the form of a non-interest-bearing promissory note. In addition, the affiliate of the Advisor may elect to defer its right to receive a subordinated termination amount until either a listing or other liquidity event occurs. See Note 18 - Subsequent Events for changes to this arrangement.

Economic_Dependency

Economic Dependency	3 Months Ended
	Mar. 31, 2014
Economic Dependency [Abstract]	'
Economic Dependency	'
	Economic Dependency
	Under various agreements, the Company has engaged or will engage the Advisor, its affiliates and entities under common ownership with the 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 acquisition and disposition decisions, the sale of shares of the Company's common stock available for issue, transfer agency services 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 the 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.

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Share-Based Compensation	'
	Share-Based Compensation
	Stock Option Plan
	The Company has a stock option plan (the "Plan") which authorizes the grant of nonqualified stock options to the Company's independent directors, officers, advisors, consultants and other personnel, subject to the absolute discretion of the board of directors and the applicable limitations of the Plan. The exercise price for all stock options granted under the Plan will be fixed at $10.00 per share until the termination of the IPO, and thereafter the exercise price for stock options granted to the independent directors will be equal to the fair market value of a share on the last business day preceding the annual meeting of stockholders. Upon a change in control, unvested options will become fully vested and any performance conditions imposed with respect to the options will be deemed to be fully achieved.  A total of 0.5 million shares have been authorized and reserved for issuance under the Plan. As of March 31, 2014 and December 31, 2013, no stock options were issued under the Plan.
	Restricted Share Plan
	The Company has an employee and director incentive restricted share plan (the "RSP") that provides for the automatic grant of 3,000 restricted shares of common stock to each of the independent directors, without any further action by the Company's board of directors or the stockholders, on the date of initial election to the board of directors and on the date of each annual stockholder's meeting. Restricted stock issued to independent directors will vest over a five-year period following the first anniversary of the date of grant in increments of 20% per annum. The RSP provides the Company with the ability to grant awards of restricted shares to the Company's directors, officers and employees (if the Company ever has employees), employees of the Advisor and its affiliates, employees of entities that provide services to the Company, directors of the Advisor or of entities that provide services to the Company, certain consultants to the Company and the Advisor and its affiliates or to entities that provide services to the Company.  Prior to March 31, 2014, the total number of shares of common stock granted under the RSP could not exceed 5.0% of the Company's outstanding shares on a fully diluted basis at any time, and in any event could not exceed 7.5 million shares (as such number may be adjusted for stock splits, stock dividends, combinations and similar events).
	On March 31, 2014, the Company adopted an amendment to the Company’s RSP to increase the number of shares of the Company capital stock, par value $0.01 per share, available for awards thereunder to 10% of the Company’s outstanding shares of capital stock on a fully diluted basis at any time. The amendment also eliminated the RSP limit of 7.5 million shares of capital stock.
	Restricted share awards entitle the recipient to receive shares of common stock from the Company under terms that provide for vesting over a specified period of time or upon attainment of pre-established performance objectives. Such awards would typically be forfeited with respect to the unvested shares upon the termination of the recipient's employment or other relationship with the Company. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Holders of restricted shares may receive cash distributions prior to the time that the restrictions on the restricted shares have lapsed. Any distributions payable in common shares shall be subject to the same restrictions as the underlying restricted shares.
	The following table displays restricted share award activity during the three months ended March 31, 2014:
		Number of Restricted Shares			Weighted-Average Issue Price
	Unvested, December 31, 2013	24,000			$	9.33
	Granted	—			—
	Vested	—			—
	Forfeited	—			—
	Unvested, March 31, 2014	24,000			$	9.33
	The fair value of the restricted shares, based on the per share price in the IPO, is expensed over the vesting period of five years. Compensation expense related to restricted stock was approximately $16,000 and $12,000 for the three months ended March 31, 2014 and 2013, respectively.
	As of March 31, 2014, the Company had $0.2 million of unrecognized compensation cost related to unvested restricted share awards granted under the Company’s RSP. This amount was expensed in April 2014, as unvested restricted stock vested in connection with the Listing.
	Other Share-Based Compensation
	The Company may issue common stock in lieu of cash to pay fees earned by the Company's directors at the respective director's election. There are no restrictions on the shares issued. The following table reflects the shares of common stock issued to directors in lieu of cash compensation:
			Three Months Ended March 31,
			2014				2013
	Shares issued in lieu of cash		—				1,500
	Value of shares issued in lieu of cash (in thousands)		$	—			$	13

Net_Loss_Per_Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Net Loss Per Share	'
	Net Loss Per Share
	The following is a summary of the basic and diluted net loss per share computations for the periods presented:
		Three Months Ended March 31,
	(In thousands, except share and per share data)	2014				2013
	Net loss attributable to stockholders	$	(8,156	)		$	(2,794	)
	Weighted average shares outstanding, basic and diluted	175,068,005				23,217,358
	Net loss per share attributable to stockholders, basic and diluted	$	(0.05	)		$	(0.12	)
	Diluted net income (loss) per share assumes the conversion of all common share equivalents into an equivalent number of common shares, unless the effect is antidilutive.  The Company considers unvested restricted stock, units of limited partner interests in the OP ("OP units") and Class B units to be common share equivalents. The following common stock equivalents were excluded from diluted income (loss) per share computations as their effect would have been antidilutive for the three months ended March 31, 2014 and 2013:
		March 31,
		2014			2013
	Unvested restricted stock	24,000			19,800
	OP units	200			200
	Class B units	799,332			116,179
	Total anti-dilutive common share equivalents	823,532			136,179

Noncontrolling_Interests

Non-controlling Interests	3 Months Ended
	Mar. 31, 2014
Noncontrolling Interest [Abstract]	'
Non-Controlling Interests	'
	Non-Controlling Interests
	The Company is the sole general partner of the OP and holds the majority of OP units. The Advisor, a limited partner, holds 200 OP units, which represents a nominal percentage of the aggregate OP ownership. A holder of OP units has the right to convert OP units for the cash value of a corresponding number of shares of the Company's common stock or, at the Company's option, a corresponding number of shares of the Company's common stock, in accordance with the limited partnership agreement of the OP. The remaining rights of the holders of OP units are limited, however, and do not include the ability to replace the general partner or to approve the sale, purchase or refinancing of the OP's assets.
	In December 2010, an unrelated third party and a related party, American Realty Capital Operating Partnership, L.P., contributed $1.0 million and $12.0 million to acquire the Bleecker Street properties, respectively.  The Company had the sole voting rights and was the controlling member of the limited liability company that owns the Bleecker Street properties. The non-controlling members' aggregate initial investment balance of $13.0 million was reduced by the monthly distributions paid to each non-controlling member.  There were approximately $17,000 of distributions to non-controlling members during the three months ended March 31, 2013. The Company fully redeemed the related party's and third party's non-controlling interest in Bleecker Street in June 2012 and December 2013, respectively.
	The Company is the controlling member of the limited liability company that owns the 163 Washington Avenue Apartments, acquired in September 2012. The Company has the sole voting rights under the operating agreement of this limited liability company. The non-controlling members' aggregate initial investment balance of $0.5 million will be reduced by the distributions paid to each non-controlling member. No distributions were paid during the three months ended March 31, 2014 and 2013.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	The Company has evaluated subsequent events through the filing of this Form 10-Q, and determined that there have not been any events that have occurred that would require adjustments to disclosures in the consolidated financial statements except for the following transactions:
	Tender Offer
	On April 15, 2014, the Company offered to purchase up to 23,255,814 shares of its common stock at a price of $10.75 per share (the “Tender Offer”). The Tender Offer closed on May 12, 2014, and based on the preliminary count by the paying agent and depository as of that date, the Company will accept for purchase 12,903,858 shares of its common stock validly tendered and not properly withdrawn prior to the expiration of the Tender Offer at a price of $10.75 per share, for an aggregate of approximately $138.7 million. The Company will fund the Tender Offer using cash on hand. As preliminary results for the Tender Offer were below the maximum amount offered for purchase, the Company will repay funds drawn on the Amended Facility in connection with the Tender Offer as described below.
	Changes to Monthly Distributions
	The board of directors authorized, and the Company declared, a modified annualized dividend of $0.46 per share per annum to replace the Company's $0.605 per share per annum dividend beginning with the April 2014 distribution. Beginning with the April 2014, such distributions will be paid to stockholders of record at the close of business on the 8th day of each month, payable on the 15th day of such month.
	Universal Automatic Shelf Registration Statement
	On April 18, 2014 the Company filed a universal automatic shelf registration statement that was automatically declared effective and achieved well-known seasoned issuer status.
	Amendment to Advisory Agreement
	On April 15, 2014, the Company entered into the Sixth Amended and Restated Advisory Agreement by and among the Company, the OP and the Advisor, which, among other things, (i) reduces the asset management fee from 0.75% per annum of average invested assets to 0.50% per annum of average invested assets up to $3.0 billion and 0.40% per annum of average invested assets above $3.0 billion; (ii) permits the asset management fee to be paid in the form of cash, OP units, and shares of restricted common stock of the Company, or a combination thereof, at the Advisor’s election; (iii) terminates the acquisition fee and financing coordination fee 180 days after Listing, except for fees with respect to properties under contract, letter of intent or under negotiation as of the termination date; and (iv) terminated the subordinated termination fee.
	Contribution and Exchange Agreement
	In connection with the Listing, the Advisor, as the holder of a class of common units of equity ownership of the OP, referred to as Class B Units, has the right to make a capital contribution to the OP in exchange for OP units. Pursuant to a Contribution and Exchange Agreement entered into between the Advisor and the OP dated April 15, 2014, the Advisor contributed $0.8 million in cash to the OP in exchange for 83,333 OP units of the OP.
	Multi-Year Outperformance Plan Agreement
	On April 15, 2014 (the "Effective Date") in connection with the Listing, the Company entered into a Multi-Year Outperformance Agreement (the “OPP”) with the OP and the Advisor. Under the OPP, the Advisor was issued 8,880,579 LTIP units in the OP with a maximum award value on the issuance date equal to 5.0% of the Company’s market capitalization (the “OPP Cap”). The LTIP units are structured as profits interest in the OP. The Advisor will be eligible to earn a number of LTIP units with a value equal to a portion of the OPP Cap upon the first, second and third anniversaries of the Effective Date based on the Company’s achievement of certain levels of total return to its stockholders (“Total Return”), including both share price appreciation and common stock distributions, as measured against a peer group of companies, as set forth below, for the three-year performance period commencing on the Effective Date (the “Three-year Period”); each 12-month period during the Three-Year Period (the “One-Year Periods”); and the initial 24-month period of the Three-Year Period (the “Two-Year Period”), as follows:
				Performance Period	Annual Period	Interim Period
	Absolute Component: 4% of any excess Total Return attained above an absolute hurdle measured from the beginning of such period:			21%	7%	14%
	Relative Component: 4% of any excess Total Return attained above the Total Return for the performance period of the Peer Group*, subject to a ratable sliding scale factor as follows based on achievement of cumulative Total Return measured from the beginning of such period:
		•	100% will be earned if cumulative Total Return achieved is at least:	18%	6%	12%
		•	50% will be earned if cumulative Total Return achieved is:	—%	—%	—%
		•	0% will be earned if cumulative Total Return achieved is less than:	—%	—%	—%
		•	a percentage from 50% to 100% calculated by linear interpolation will be earned if the cumulative Total Return achieved is between:	0% - 18%	0% - 6%	0%- 12%
	______________________
	*The “Peer Group” is comprised of the companies in the SNL US REIT Office Index.
	The potential outperformance award is calculated at the end of each One-Year Period, the Two-Year Period and the Three-Year Period. The award earned for the Three-Year Period is based on the formula in the table above less any awards earned for the Two-Year Period and One-Year Periods, but not less than zero; the award earned for the Two-Year Period is based on the formula in the table above less any award earned for the first and second One-Year Period, but not less than zero. Any LTIP Units that are unearned at the end of the Performance Period will be forfeited.
	Subject to the Advisor’s continued service through each vesting date, 1/3 of any earned LTIP units will vest on each of the third, fourth and fifth anniversaries of the Effective Date. Until such time as the LTIP Units are fully vested in accordance with the provisions of the OPP, the LTIP Units are entitled to distributions equal to 10% of the distributions made on OP units. After the LTIP Units are fully vested, they are entitled to a catch-up distribution and then the same distributions as the OP units. At the time the Advisor’s capital account with respect to the LTIP Units is economically equivalent to the average capital account balance of the OP units and has been earned and has been vested for 30 days, the applicable LTIP Units will automatically convert into OP units on a one-to-one basis.
	The OPP provides for early calculation of LTIP Units earned and for the accelerated vesting of any earned LTIP Units in the event Advisor is terminated or in the event the Company incurs a change in control, in either case prior to the end of the Three-Year Period. The OPP also provides for accelerated vesting of earned LTIP Units in the event Advisor is terminated or in the event of a change in control of the Company on or following the end of the Three-Year Period.
	Amendments to Unsecured Revolving Credit Facility
	On April 14, 2014, the Company, through the OP, entered into an amendment to the credit facility ("Amended Facility"). The Amended Facility allows for total borrowings of up to $705.0 million with a $305.0 million term loan and a $400.0 million revolving loan. The Amended Facility contains an "accordion feature" to allow the Company, under certain circumstances, to increase the aggregate loan borrowings to up to $1.0 billion of total borrowings. The Amended Facility, among other things, (i) permits the issuance of a listing note to the SLP following the Listing, (ii) modifies the distribution covenant to account for the suspension of the Company’s DRIP; (iii) permits the issuance of LTIP Units to the Advisor and (iv) modifies certain other terms of the Amended Facility to allow the Company to make additional restricted payments, including in connection with the Company’s previously announced Tender Offer. On May 5, 2014, the Company borrowed $68.0 million under the Amended Facility in anticipation of full participation in the Tender Offer.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In February 2013, the FASB issued new accounting guidance clarifying the accounting and disclosure requirements for obligations resulting from joint and several liability arrangements for which the total amount under the arrangement is fixed at the reporting date. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.
	In March 2013, the FASB issued new accounting guidance clarifying the accounting for the release of cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity.  The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.
	In April 2014, the FASB amended the requirements for reporting discontinued operations. Under the revised guidance, in addition to other disclosure requirements, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results when the component or group of components meets the criteria to be classified as held for sale, disposed of by sale or other than by sale. The Company has adopted the provisions of this guidance effective January 1, 2014, and have applied the provisions prospectively. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.

Real_Estate_Investments_Tables

Real Estate Investments (Tables)	3 Months Ended
	Mar. 31, 2014
Real Estate [Abstract]	'
Assets and Liabilities Assumed	'
	The following table presents the allocation of the assets acquired and liabilities assumed during the three months ended March 31, 2013. There were no assets acquired and liabilities assumed during the three months ended March 31, 2014.
		Three Months Ended
	(Dollar amounts in thousands)	March 31, 2013
	Real estate investments, at cost:
	Land	$	17,500
	Buildings, fixtures and improvements	90,869
	Total tangible assets	108,369
	Acquired intangibles:
	In-place leases	8,214
	Above-market lease assets	1,593
	Below-market lease liabilities	(6,176		)
	Total acquired intangibles	3,631
	Total assets acquired, net	112,000
	Mortgage notes payable used to acquire investments in real estate	(60,000		)
	Other liabilities assumed	(843		)
	Cash paid for acquired real estate investments and other assets	$	51,157
	Number of properties and other investments purchased	1
Schedule of Future Minimum Rental Payments for Operating Leases	'
	The following table presents future minimum base cash rental payments due to the Company, excluding future minimum base cash rental payments related to unconsolidated joint ventures, subsequent to March 31, 2014.  These amounts exclude contingent rental payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indexes among other items.
	(In thousands)	Future Minimum
		Base Rent Payments
	April 1, 2014 - December 31, 2014	$	66,675
	2015	87,673
	2016	73,919
	2017	71,276
	2018	68,627
	Thereafter	447,121
		$	815,291
Schedule of Annualized Rental Income by Major Tenants	'
	The following table lists the tenants whose annualized rental income on a straight-line basis represented greater than 10% of total annualized rental income for all portfolio properties on a straight-line basis as of March 31, 2014 and 2013:
				March 31,
	Property Portfolio	Tenant		2014	2013
	Worldwide Plaza	Cravath, Swaine & Moore, LLP		18.20%	*
	Worldwide Plaza	Nomura Holding America, Inc.		12.40%	*
	229 West 36th Street	American Language Communication Center, Inc.		*	10.50%
	_____________________
	* Tenant's annualized rental income on a straight-line basis was not greater than 10% of total annualized rental income for all portfolio properties as of the period specified.

Investment_in_Unconsolidated_J1

Investment in Unconsolidated Joint Venture (Tables)	3 Months Ended
	Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Condensed Balance Sheet	'
	The condensed balance sheets as of March 31, 2014 and December 31, 2013 for Worldwide Plaza are as follows:
	(In thousands)	March 31,			December 31,
		2014			2013
	Real estate assets, at cost	$	696,426		$	696,342
	Less accumulated depreciation and amortization	(82,635		)	(77,919		)
	Total real estate assets, net	613,791			618,423
	Other assets	247,705			248,048
	Total assets	$	861,496		$	866,471
	Debt	$	875,000		$	875,000
	Other liabilities	10,294			9,923
	Total liabilities	885,294			884,923
	Deficit	(23,798		)	(18,452		)
	Total liabilities and deficit	$	861,496		$	866,471
	Company's basis	$	229,127		$	234,774
Condensed Income Statement	'
	The condensed statement of operations for the three months ended March 31, 2014 for Worldwide Plaza is as follows:
		Three Months Ended
	(In thousands)	March 31, 2014
	Rental income	$	27,655
	Other revenue	1,215
	Total revenue	28,870
	Operating expenses:
	Operating expense	11,513
	Depreciation and amortization	6,368
	Total operating expenses	17,881
	Operating income	10,989
	Interest expense	(9,882		)
	Net income	1,107
	Company's preferred distribution	(3,851		)
	Joint venture partner distribution	(2,560		)
	Net loss to members	$	(5,304	)
	Company's preferred distribution	$	3,851
	Company's share of net loss from Worldwide Plaza	(2,594		)
	Company's income from Worldwide Plaza	$	1,257

Investment_Securities_Tables

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2014
Investment Securities [Abstract]	'
Schedule of Available-for-sale Securities Reconciliation	'
	The following table details the unrealized losses on investment securities as of March 31, 2014 and December 31, 2013:
	(In thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	31-Mar-14	$	1,288	$	—	$	(116	)	$	1,172
	31-Dec-13	$	1,288	$	—	$	(240	)	$	1,048

Mortgage_Notes_Payable_Tables

Mortgage Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Schedule of Mortgage Notes Payable	'
	The Company's mortgage notes payable as of March 31, 2014 and December 31, 2013 consist of the following:
					Outstanding Loan Amount
	Portfolio		Encumbered		March 31,		December 31,		Effective			Interest Rate	Maturity
			Properties		2014		2013		Interest Rate
					(In thousands)		(In thousands)
	Interior Design Building		1		$	20,487	$	20,582	4.4	%		Fixed	Dec. 2021
	Bleecker Street		3		21,300		21,300		4.3	%		Fixed	Dec. 2015
	Foot Locker		1		3,250		3,250		4.6	%		Fixed	Jun. 2016
	Regal Parking Garage		1		3,000		3,000		4.5	%		Fixed	Jul. 2016
	Duane Reade		1		8,400		8,400		3.6	%		Fixed	Nov. 2016
	Washington Street Portfolio		1		4,809		4,831		4.4	%		Fixed	Dec. 2021
	One Jackson Square		1		13,000		13,000		3.4	%	(1)	Fixed	Dec. 2016
	350 West 42nd Street		1		11,365		11,365		3.4	%		Fixed	Aug. 2017
	1100 Kings Highway		1		20,200		20,200		3.4	%	(1)	Fixed	Aug. 2017
	1623 Kings Highway		1		7,288		7,288		3.3	%	(1)	Fixed	Nov. 2017
	256 West 38th Street		1		24,500		24,500		3.1	%	(1)	Fixed	Dec. 2017
	229 West 36th Street		1		35,000		35,000		2.9	%	(1)	Fixed	Dec. 2017
			14		$	172,599	$	172,716	3.6	%	(2)
	______________________
	-1	Fixed through an interest rate swap agreement.
	-2	Calculated on a weighted average basis for all mortgages outstanding as of March 31, 2014.
Schedule Of Aggregate Principal Payments On Mortgages	'
	The following table summarizes the scheduled aggregate principal repayments subsequent to March 31, 2014:
	(In thousands)		Future Minimum Principal Payments
	April 1, 2014 - December 31, 2014		$	357
	2015		21,794
	2016		28,167
	2017		102,730
	2018		4,573
	Thereafter		14,978
	Total		$	172,599

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Schedule of Fair Value, Liabilities Measured on Recurring Basis	'
	The following table presents information about the Company's assets and liabilities (including derivatives that are presented net) measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013, aggregated by the level in the fair value hierarchy within which those instruments fall:
	(In thousands)	Quoted Prices in Active Markets				Significant Other Observable Inputs				Significant Unobservable Inputs				Total
		Level 1				Level 2				Level 3
	March 31, 2014
	Interest rate swaps, net	$	—			$	(511	)		$	—			$	(511	)
	Investment securities	$	1,172			$	—			$	—			$	1,172
	December 31, 2013
	Interest rate swaps, net	$	—			$	(385	)		$	—			$	(385	)
	Investment securities	$	1,048			$	—			$	—			$	1,048
Fair Value, by Balance Sheet Grouping	'
	The fair values of the Company's financial instruments that are not reported at fair value on the consolidated balance sheet are reported below.
				Carrying				Fair Value at				Carrying				Fair Value at
				Amount at								Amount at
	(In thousands)	Level		March 31, 2014				March 31, 2014				December 31, 2013				December 31, 2013
	Mortgage notes payable	3		$	172,599			$	173,277			$	172,716			$	173,427
	Credit facility	3		$	305,000			$	305,000			$	305,000			$	305,000
	Preferred equity investment	3		$	30,000			$	30,000			$	30,000			$	30,000

Derivatives_and_Hedging_Activi1

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of Interest Rate Derivatives	'
	As of March 31, 2014 and December 31, 2013, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk.
		March 31, 2014						December 31, 2013
	Interest Rate Derivative	Number of		Notional Amount				Number of		Notional Amount
		Instruments						Instruments
				(In thousands)						(In thousands)
	Interest rate swaps	6		$	179,988			6		$	179,988
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	'
	The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of March 31, 2014 and December 31, 2013:
	(In thousands)	Balance Sheet Location		March 31, 2014				December 31, 2013
	Derivatives designated as hedging instruments:
	Interest rate swaps	Derivative assets, at fair value		$	429			$	490
	Interest rate swaps	Derivative liabilities, at fair value		$	(940	)		$	(875	)
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	'
	The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three months ended March 31, 2014 and 2013:
		Three Months Ended March 31,
	(In thousands)	2014				2013
	Amount of loss recognized in accumulated other comprehensive loss from interest rate derivatives (effective portion)	$	(656	)		$	(35	)
	Amount of loss reclassified from accumulated other comprehensive loss into income as interest expense (effective portion)	$	(530	)		$	(213	)
	Amount of income (loss) recognized in gain (loss) on derivative instruments (ineffective portion and amount excluded from effectiveness testing)	$	—			$	—
Offsetting Liabilities	'
	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of March 31, 2014 and December 31, 2013. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying balance sheets.
													Gross Amounts Not Offset on the Balance Sheet
	Derivatives (In thousands)	Gross Amounts of Recognized Assets				Gross Amounts of Recognized Liabilities				Net Amounts of Assets (Liabilities) presented on the Balance Sheet			Financial Instruments		Cash Collateral Posted		Net Amount
	March 31, 2014	$	429			$	(940	)		$	(511	)	$	—	$	—	$	(511	)
	December 31, 2013	$	490			$	(875	)		$	(385	)	$	—	$	—	$	(385	)

Common_Stock_Tables

Common Stock (Tables)	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity Note [Abstract]	'
Schedule of Share Repurchases	'
	The following table reflects the cumulative number of common shares repurchased as of December 31, 2013 and as of and for the three months ended March 31, 2014:
		Number of Requests	Number of Shares Repurchased	Average Price per Share
	Cumulative repurchases as of December 31, 2013	35	279,594	$	9.63
	Three months ended March 31, 2014	1	5,000	10
	Cumulative repurchases as of March 31, 2014 (1)	36	284,594	$	9.63
	__________________________
	-1	Includes one unfulfilled repurchase request consisting of 5,000 shares at a price per share of $10.00, which were approved for repurchase as of March 31, 2014 and paid in May 2014. This liability is included in accounts payable and accrued expenses on the Company's consolidated balance sheets.

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Schedule of Future Minimum Rental Payments for Operating Leases	'
	The following table reflects the minimum base rental cash payments due from the Company over the next five years and thereafter under these arrangements. These amounts exclude contingent rent payments, as applicable, that may be payable based on provisions related to increases in annual rent based on exceeding certain economic indexes among other items.
	(In thousands)	Future Minimum Base Rent Payments
	April 1, 2014 - December 31, 2014	$	2,540
	2015	4,555
	2016	4,991
	2017	4,991
	2018	5,175
	Thereafter, 2019 - 2050	260,549
		$	282,801

Related_Party_Transactions_and1

Related Party Transactions and Arrangements (Tables)	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Schedule of Selling Commissions and Dealer Manager Fees Payable to Affiliate	'
	The following table details total selling commissions and dealer manager fees incurred and payable to the Dealer Manager related to the sale of common stock as of and for the periods presented:
		Three Months Ended				Payable as of
		March 31,				March 31,		December 31,
	(In thousands)	2014		2013		2014		2013
	Total commissions and fees incurred from Dealer Manager	$	8	$	7,160	$	—	$	857
Schedule Of Offering Costs Reimbursements to Related Party	'
	The following table details offering costs reimbursements incurred and payable to the Advisor and Dealer Manager related to the IPO as of and for the periods presented:
		Three Months Ended				Payable as of
		March 31,				March 31,		December 31,
	(In thousands)	2014		2013		2014		2013
	Fees and expense reimbursements from the Advisor and Dealer Manager	$	—	$	696	$	—	$	416
Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services	'
	The following table details amounts incurred, forgiven and contractually due in connection with the operations related services described above as of and for the periods presented:
		Three Months Ended March 31,								Payable as of
		2014				2013				March 31,		December 31,
	(In thousands)	Incurred		Forgiven		Incurred		Forgiven		2014		2013
	One-time fees and reimbursements:
	Acquisition fees and related cost reimbursements	$	—	$	—	$	1,687	$	—	$	—	$	—
	Financing coordination fees	—		—		450		—		—		—
	Ongoing fees:
	Transfer agent and other professional fees	586		—		—		—		242		—
	Property management and leasing fees	—		374		—		186		—		—
	Strategic advisory fees	—		—		151		—		—		—
	Distributions on Class B units	88		—		28		—		—		—
	Total related party operational fees and reimbursements	$	674	$	374	$	2,316	$	186	$	242	$	—
Schedule of General and Administrative Expenses Absorbed by The Advisor	'
	The following table details property operating and general and administrative expenses absorbed by the Advisor during the three months ended March 31, 2014 and 2013. These costs are presented net in the accompanying consolidated statements of operations and comprehensive loss.
		Three Months Ended March 31,
	(In thousands)	2014		2013
	Property operating expenses absorbed	$	—	$	—
	General and administrative expenses absorbed	—		350
	Total expenses absorbed	$	—	$	350

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Share-based Compensation, Stock Options, Activity	'
	The following table displays restricted share award activity during the three months ended March 31, 2014:
		Number of Restricted Shares			Weighted-Average Issue Price
	Unvested, December 31, 2013	24,000			$	9.33
	Granted	—			—
	Vested	—			—
	Forfeited	—			—
	Unvested, March 31, 2014	24,000			$	9.33
Schedule of Share-based Compensation, Activity for Services	'
	The following table reflects the shares of common stock issued to directors in lieu of cash compensation:
			Three Months Ended March 31,
			2014				2013
	Shares issued in lieu of cash		—				1,500
	Value of shares issued in lieu of cash (in thousands)		$	—			$	13

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted	'
	The following is a summary of the basic and diluted net loss per share computations for the periods presented:
		Three Months Ended March 31,
	(In thousands, except share and per share data)	2014				2013
	Net loss attributable to stockholders	$	(8,156	)		$	(2,794	)
	Weighted average shares outstanding, basic and diluted	175,068,005				23,217,358
	Net loss per share attributable to stockholders, basic and diluted	$	(0.05	)		$	(0.12	)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	'
	The following common stock equivalents were excluded from diluted income (loss) per share computations as their effect would have been antidilutive for the three months ended March 31, 2014 and 2013:
		March 31,
		2014			2013
	Unvested restricted stock	24,000			19,800
	OP units	200			200
	Class B units	799,332			116,179
	Total anti-dilutive common share equivalents	823,532			136,179

Subsequent_Events_Tables

Subsequent Events (Tables)	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Schedule of Subsequent Events	'
				Performance Period	Annual Period	Interim Period
	Absolute Component: 4% of any excess Total Return attained above an absolute hurdle measured from the beginning of such period:			21%	7%	14%
	Relative Component: 4% of any excess Total Return attained above the Total Return for the performance period of the Peer Group*, subject to a ratable sliding scale factor as follows based on achievement of cumulative Total Return measured from the beginning of such period:
		•	100% will be earned if cumulative Total Return achieved is at least:	18%	6%	12%
		•	50% will be earned if cumulative Total Return achieved is:	—%	—%	—%
		•	0% will be earned if cumulative Total Return achieved is less than:	—%	—%	—%
		•	a percentage from 50% to 100% calculated by linear interpolation will be earned if the cumulative Total Return achieved is between:	0% - 18%	0% - 6%	0%- 12%
	______________________
	*The “Peer Group” is comprised of the companies in the SNL US REIT Office Index.

Organization_Details

Organization (Details) (USD $)	Mar. 31, 2014	Sep. 02, 2010
	property	Common stock
Operations [Line Items]	'	'
Number of properties owned	23	'
Shares available for issuance under initial public offering, shares	'	150,000,000
Shares issued or available for issuance under initial public offering, price per share	'	$10

Real_Estate_Investments_Assets

Real Estate Investments (Assets and Liabilities Assumed) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2013
	property
Real estate investments, at cost:	'
Land	$17,500
Buildings, fixtures and improvements	90,869
Total tangible assets	108,369
Below-market lease liabilities	-6,176
Total acquired intangibles	3,631
Total assets acquired, net	112,000
Mortgage notes payable used to acquire investments in real estate	-60,000
Other liabilities assumed	-843
Cash paid for acquired real estate investments and other assets	51,157
Number of properties and other investments purchased	1
In-place leases	'
Real estate investments, at cost:	'
Acquired intangibles:	8,214
Above-market lease assets	'
Real estate investments, at cost:	'
Acquired intangibles:	$1,593

Real_Estate_Investments_Schedu

Real Estate Investments (Schedule of Future Minimum Rental Payments for Operating Lease) (Details) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified
Real Estate [Abstract]	'
April 1, 2014 - December 31, 2014	$66,675
2015	87,673
2016	73,919
2017	71,276
2018	68,627
Thereafter	447,121
Total	$815,291

Real_Estate_Investments_Schedu1

Real Estate Investments (Schedule of Annualized Rental Income by Major Tenant) (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2013
	Worldwide Plaza	Worldwide Plaza	229 West 36th Street
	Cravath, Swaine & Moore, LLP [Member]	Nomura Holdings America, Inc. [Member]	American Language Communication Center, Inc. [Member]
Revenue, Major Customer [Line Items]	'	'	'
Major tenant rental income, as a percentage of total annualized rental income	18.20%	12.40%	10.50%

Investment_in_Unconsolidated_J2

Investment in Unconsolidated Joint Venture (Details) (USD $)	3 Months Ended				3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Oct. 15, 2013	Mar. 31, 2014	Dec. 31, 2013	Oct. 30, 2013
					Worldwide Plaza	Worldwide Plaza	Worldwide Plaza
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'
Ownership percentage	'	'	'	48.90%	'	'	48.90%
Aggregate cost	'	'	'	'	'	'	$220,100,000
Agreed upon value	'	'	'	'	'	'	1,325,000,000
Notes payable	'	'	'	'	875,000,000	875,000,000	875,000,000
Interest rate	'	'	'	'	'	'	4.60%
Investments in unconsolidated joint ventures	229,127,000	'	234,774,000	'	'	'	'
Purchase option term	'	'	'	'	'38 months	'	'
Purchase obligation	'	'	'	'	1,400,000,000	'	'
Difference between carrying amount and underlying equity	'	'	'	'	'	'	260,600,000
Difference between carrying amount and equity	3,200,000	'	'	'	'	'	'
Income from unconsolidated joint venture	1,257,000	0	'	'	1,257,000	'	'
Proceeds from investment	'	'	'	'	$3,851,000	'	'

Investment_in_Unconsolidated_J3

Investment in Unconsolidated Joint Venture - Condensed Balance Sheet (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Oct. 30, 2013
In Thousands, unless otherwise specified
Schedule of Equity Method Investments [Line Items]	'	'	'
Real estate assets, at cost	$1,543,284	$1,542,805	'
Less accumulated depreciation and amortization	-61,958	-41,183	'
Total real estate investments, net	1,481,326	1,501,622	'
Total assets	2,020,063	2,048,305	'
Total liabilities	590,920	599,046	'
Deficit	-120,329	-86,008	'
Total liabilities and equity	2,020,063	2,048,305	'
Worldwide Plaza	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Real estate assets, at cost	696,426	696,342	'
Less accumulated depreciation and amortization	-82,635	-77,919	'
Total real estate investments, net	613,791	618,423	'
Other assets	247,705	248,048	'
Total assets	861,496	866,471	'
Debt	875,000	875,000	875,000
Other liabilities	10,294	9,923	'
Total liabilities	885,294	884,923	'
Deficit	-23,798	-18,452	'
Total liabilities and equity	861,496	866,471	'
Company's basis	$229,127	$234,774	'

Investment_in_Unconsolidated_J4

Investment in Unconsolidated Joint Venture - Condensed Income Statement (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'
Rental income	$27,171	$7,674
Other revenue	6,421	653
Total revenues	33,592	8,327
Property operating	14,005	1,737
Depreciation and amortization	24,254	4,286
Total operating expenses	39,689	8,983
Operating Income (Loss)	-6,097	-656
Interest Expense	-3,939	-2,146
Net loss	-8,155	-2,802
Proceeds from Divestiture of Interest in Joint Venture	-3,936	0
Net loss attributable to stockholders	-8,156	-2,794
Equity in income of unconsolidated joint ventures	1,257	0
Income from unconsolidated joint venture	1,257	0
Worldwide Plaza	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Rental income	27,655	'
Other revenue	1,215	'
Total revenues	28,870	'
Property operating	11,513	'
Depreciation and amortization	6,368	'
Total operating expenses	17,881	'
Operating Income (Loss)	10,989	'
Interest Expense	-9,882	'
Net loss	1,107	'
Proceeds from investment	-3,851	'
Proceeds from Divestiture of Interest in Joint Venture	-2,560	'
Net loss attributable to stockholders	-5,304	'
Equity in income of unconsolidated joint ventures	-2,594	'
Income from unconsolidated joint venture	$1,257	'

Preferred_Equity_Investment_De

Preferred Equity Investment (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Equity [Abstract]	'	'
Preferred equity investment	$30,000,000	$30,000,000
Investment term	'5 years	'
Origination fee	0.75%	'
Current pay rate	6.00%	'
Current accrual rate	2.00%	'
Accrual rate year 2	2.25%	'
Accrual rate year 3	2.75%	'
Accrual rate year 5	3.25%	'
Maximum investment	$40,000,000	'

Investment_Securities_Details

Investment Securities (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'
Cost	$1,288	$1,288
Gross Unrealized Gains	0	0
Gross Unrealized Losses	-116	-240
Fair Value	$1,172	$1,048
Converted Preferred Shares	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Period from issuance when investments become redeemable	'5 years	'

Credit_Facility_Details

Credit Facility (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 30, 2012

Mar. 30, 2012

Aug. 20, 2013

Aug. 20, 2013

Mar. 30, 2012

Mar. 30, 2012

Aug. 21, 2013

Aug. 21, 2013

Aug. 21, 2013

Aug. 21, 2013

Aug. 21, 2013

Aug. 21, 2013

Dec. 23, 2013

Aug. 20, 2013

Dec. 23, 2013

Aug. 20, 2013

Credit facility

Credit facility

Credit facility

Credit facility

Credit Facility

Credit Facility

Below Threshold

Above Threshold

Line of Credit Facility, Interest Rate, Option One

Line of Credit Facility, Interest Rate, Option One

Line of Credit Facility, Interest Rate, Option Two

Line of Credit Facility, Interest Rate, Option Two

Line of Credit Facility, Base Rate, Option Two

Line of Credit Facility, Base Rate, Option Three

Term Loan

Term Loan

Credit facility

Credit facility

LIBOR

Maximum

Credit facility

Credit facility

Credit facility

Credit facility

Credit facility

Credit facility

Credit facility

Credit facility

Credit facility

Credit facility

LIBOR

LIBOR

Maximum

Minimum

Maximum

Minimum

Federal Funds Effective Rate

One-Month LIBOR

LIBOR

LIBOR

Base Rate

Base Rate

Line of Credit Facility [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum capacity on credit facility

'

'

$40,000,000

'

$220,000,000

'

'

'

'

'

'

'

'

'

$340,000,000

$110,000,000

$50,000,000

$110,000,000

Accordion feature of credit facility

'

'

'

'

'

325,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Spread on variable rate basis

'

'

'

2.50%

'

'

'

'

2.75%

1.50%

1.75%

0.50%

0.50%

1.00%

'

'

'

'

Unused capacity fee percentage

'

'

'

'

'

'

0.20%

0.30%

'

'

'

'

'

'

'

'

'

'

Unused capacity commitment fee percentage threshold

'

'

'

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revolving credit facility

305,000,000

305,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Effective Interest Rate

2.18%

2.19%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Remaining borrowing capacity

$85,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage_Notes_Payable_Schedul

Mortgage Notes Payable (Schedule of Mortgage Notes Payable) (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'		'
Outstanding Loan Amount	$172,599		$172,716
Mortgages	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	14		'
Outstanding Loan Amount	172,599		172,716
Effective Interest Rate	3.60%	[1]	'
Mortgages | Interior Design Building	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1		'
Outstanding Loan Amount	20,487		20,582
Effective Interest Rate	4.40%		'
Mortgages | Bleecker Street	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	3		'
Outstanding Loan Amount	21,300		21,300
Effective Interest Rate	4.30%		'
Mortgages | Foot Locker	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1		'
Outstanding Loan Amount	3,250		3,250
Effective Interest Rate	4.60%		'
Mortgages | Regal Parking Garage	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1		'
Outstanding Loan Amount	3,000		3,000
Effective Interest Rate	4.50%		'
Mortgages | Duane Reade	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1		'
Outstanding Loan Amount	8,400		8,400
Effective Interest Rate	3.60%		'
Mortgages | Washington Street Portfolio	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1		'
Outstanding Loan Amount	4,809		4,831
Effective Interest Rate	4.40%		'
Mortgages | One Jackson Square	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1	[2]	'
Outstanding Loan Amount	13,000	[2]	13,000	[2]
Effective Interest Rate	3.40%	[2]	'
Mortgages | 350 West 42nd Street	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1		'
Outstanding Loan Amount	11,365		11,365
Effective Interest Rate	3.40%		'
Mortgages | 1100 Kings Highway	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1	[2]	'
Outstanding Loan Amount	20,200	[2]	20,200	[2]
Effective Interest Rate	3.40%	[2]	'
Mortgages | 1623 Kings Highway	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1	[2]	'
Outstanding Loan Amount	7,288	[2]	7,288	[2]
Effective Interest Rate	3.30%	[2]	'
Mortgages | 256 West 38th Street	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1	[2]	'
Outstanding Loan Amount	24,500	[2]	24,500	[2]
Effective Interest Rate	3.10%	[2]	'
Mortgages | 229 West 36th Street	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1	[2]	'
Outstanding Loan Amount	$35,000	[2]	$35,000	[2]
Effective Interest Rate	2.90%	[2]	'
[1]	Calculated on a weighted average basis for all mortgages outstanding as of MarchB 31, 2014.
[2]	Fixed through an interest rate swap agreement.

Mortgage_Notes_Payable_Schedul1

Mortgage Notes Payable (Schedule Of Aggregate Future Principal Payments On Mortgage Notes Payable) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'	'
Total	$172,599	$172,716
Mortgages	'	'
Debt Instrument [Line Items]	'	'
April 1, 2014 - December 31, 2014	357	'
2015	21,794	'
2016	28,167	'
2017	102,730	'
2018	4,573	'
Thereafter	14,978	'
Total	$172,599	$172,716

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Schedule of Fair Value, Liabilities Measured on Recurring Basis) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities	$1,172	$1,048
Interest Rate Swap | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets Level 1	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Interest rate swaps, net	0	0
Interest Rate Swap | Fair Value, Measurements, Recurring | Significant Other Observable Inputs Level 2	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Interest rate swaps, net	-511	-385
Interest Rate Swap | Fair Value, Measurements, Recurring | Significant Unobservable Inputs Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Interest rate swaps, net	0	0
Interest Rate Swap | Fair Value, Measurements, Recurring | Total	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Interest rate swaps, net	-511	-385
Available-for-sale Securities | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets Level 1	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities	1,172	1,048
Available-for-sale Securities | Fair Value, Measurements, Recurring | Significant Other Observable Inputs Level 2	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities	0	0
Available-for-sale Securities | Fair Value, Measurements, Recurring | Significant Unobservable Inputs Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities	0	0
Available-for-sale Securities | Fair Value, Measurements, Recurring | Total	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities	$1,172	$1,048

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Fair Value, by Balance Sheet Grouping) (Details) (Level 3, USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Mortgage notes payable | Carrying Amount	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Debt, fair value	$172,599	$172,716
Mortgage notes payable | Fair Value	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Debt, fair value	173,277	173,427
Credit facility | Carrying Amount	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Debt, fair value	305,000	305,000
Credit facility | Fair Value	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Debt, fair value	305,000	305,000
Preferred Equity Investment | Carrying Amount	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Debt, fair value	30,000	30,000
Preferred Equity Investment | Fair Value	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Debt, fair value	$30,000	$30,000

Derivatives_and_Hedging_Activi2

Derivatives and Hedging Activities (Schedule Of Interest Rate Derivative) (Details) (Designated as Hedging Instrument, Cash Flow Hedging, Interest rate swaps, USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	derivative	derivative
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swaps	'	'
Derivative [Line Items]	'	'
Number of Instruments	6	6
Notional Amount	$179,988	$179,988

Derivatives_and_Hedging_Activi3

Derivatives and Hedging Activities (Schedule of Derivative Instruments in Statement of Financial Position, Fair Value) (Details) (Cash Flow Hedging, Interest rate swaps, Designated as Hedging Instrument, Derivatives at Fair Value, USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Cash Flow Hedging | Interest rate swaps | Designated as Hedging Instrument | Derivatives at Fair Value	'	'
Derivatives, Fair Value [Line Items]	'	'
Derivative assets, at fair value	$429	$490
Derivative liabilities, at fair value	($940)	($875)

Derivatives_and_Hedging_Activi4

Derivatives and Hedging Activities (Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance) (Details) (Cash Flow Hedging, Interest Rate Swap, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Amount of loss recognized in accumulated other comprehensive loss from interest rate derivatives (effective portion)	($656)	($35)
Amount of income (loss) recognized in gain (loss) on derivative instruments (ineffective portion and amount excluded from effectiveness testing)	0	0
Interest Expense	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Amount of loss reclassified from accumulated other comprehensive loss into income as interest expense (effective portion)	($530)	($213)

Derivatives_and_Hedging_Activi5

Derivatives and Hedging Activities (Narrative) (Details) (Designated as Hedging Instrument, Cash Flow Hedging, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Derivatives at Fair Value | Interest rate swaps	'
Derivative [Line Items]	'
Fair value of derivatives	$1.10
Interest Rate Swap	'
Derivative [Line Items]	'
Amount required to settle its obligations under the agreement at its aggregate termination value incase of breach	1.1
Interest Rate Swap | Interest Expense	'
Derivative [Line Items]	'
Interests reclassified to AOCI	'12 months
Interests reclassified to AOCI period	$2.10

Derivatives_and_Hedging_Activi6

Derivatives and Hedging Activities (Schedule of Offsetting Liabilities) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivative and Hedging Activities [Abstract]	'	'
Gross Amounts of Recognized Assets	$429	$490
Gross Amounts of Recognized Liabilities	-940	-875
Net Amounts of Assets (Liabilities) presented on the Balance Sheet	-511	-385
Financial Instruments	0	0
Cash Collateral Posted	0	0
Net Amount	($511)	($385)

Common_Stock_Details

Common Stock (Details) (USD $)	1 Months Ended	3 Months Ended		3 Months Ended		51 Months Ended	54 Months Ended
	Sep. 30, 2010	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014		Mar. 31, 2014	Dec. 31, 2013
				Unfunded	Approved	Approved	Approved		Common stock	Common stock
				request	request	request	request
Class of Stock [Line Items]	'	'	'	'	'	'	'		'	'
Common stock, shares outstanding (in shares)	'	175,614,861	174,120,408	'	'	'	'		175,614,861	174,120,408
Dividends declared (in dollars per share)	$0.61	$0.61	'	'	'	'	'		'	'
Dividends declared per day (in dollars per share)	$0.00	'	'	'	'	'	'		'	'
Number of Requests	'	'	'	1	1	35	36	[1]	'	'
Number of Shares Repurchased	'	'	'	'	5,000	279,594	284,594	[1]	'	'
Average Price per Share (in dollars per share)	'	'	'	$10	$10	$9.63	$9.63	[1]	'	'
Remaining shares to be repurchased (in shares)	'	'	'	5,000	'	'	'		'	'
[1]	Includes one unfulfilled repurchase request consisting of 5,000 shares at a price per share of $10.00, which were approved for repurchase as of MarchB 31, 2014 and paid in May 2014. This liability is included in accounts payable and accrued expenses on the Company's consolidated balance sheets.

Commitments_and_Contingencies_1

Commitments and Contingencies - Minimum Lease Payments (Details) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified
Commitments and Contingencies Disclosure [Abstract]	'
April 1, 2014 - December 31, 2014	$2,540
2015	4,555
2016	4,991
2017	4,991
2018	5,175
Thereafter, 2019 - 2050	260,549
Total	$282,801

Commitments_and_Contingencies_2

Commitments and Contingencies (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Oct. 15, 2013
Loss Contingencies [Line Items]	'	'
Ownership percentage	'	48.90%
Loss contingency, damages sought, value	$200	'

Related_Party_Transactions_and2

Related Party Transactions and Arrangements (Details) (USD $)

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Apr. 30, 2014

Apr. 15, 2014

Apr. 15, 2014

RCS Advisory Services, LLC

Realty Capital Securities, LLC and American National Stock Transfer, LLC

Realty Capital Securities, LLC and American National Stock Transfer, LLC

New York Recovery Advisors, LLC and Realty Capital Securities, LLC

New York Recovery Advisors, LLC and Realty Capital Securities, LLC

New York Recovery Special Limited Partnership, LLC

New York Recovery Special Limited Partnership, LLC

Realty Capital Securities, LLC

Realty Capital Securities, LLC

Realty Capital Securities, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

RCS Advisory Services, LLC

RCS Advisory Services, LLC

Greater Of

Greater Of

Subsequent Event

Subsequent Event

Subsequent Event

Dealer Manager and Transfer Agent

Dealer Manager and Transfer Agent

Advisor and Dealer Manager

Advisor and Dealer Manager

Entity Wholly Owned by Sponsor

Entity Wholly Owned by Sponsor

Dealer Manager

Dealer Manager

Dealer Manager

Advisor

Advisor

Advisor

Advisor

Advisor

Advisor

Advisor

Advisor

Advisor

Advisor

Advisor

Advisor

Transaction Management

Dealer Manager

New York Recovery Advisors, LLC

New York Recovery Advisors, LLC

Realty Capital Securities, LLC and American National Stock Transfer, LLC

New York Recovery Advisors, LLC and Realty Capital Securities, LLC

New York Recovery Advisors, LLC

Information Agent and Advisory Service Fee

Fees and expense reimbursements from the Advisor and Dealer Manager

Fees and expense reimbursements from the Advisor and Dealer Manager

Total commissions and fees incurred from Dealer Manager

Total commissions and fees incurred from Dealer Manager

Maximum

Amount Available or Outstanding Under Financing Arrangement

Contract Purchase Price

Average Invested Assets

Gross Revenue, Multi-tenant Properties

Excess of Adjusted Market Value of Real Estate Assets Plus Distributions Over Aggregate Contributed Investor Capital

Annual Targeted Investor Return

Maximum

Maximum

Maximum

Maximum

Maximum

Maximum

Fees and expense reimbursements from the Advisor and Dealer Manager

Advisor

Advisor

Dealer Manager and Transfer Agent

Advisor

Advisor

Gross Proceeds, Initial Public Offering

Pre-tax Non-compounded Return on Capital Contribution

Gross Revenue, Managed Properties

Contract Purchase Price

Average Invested Assets

Contract Sales Price

Brokerage Commission Fees

Real Estate Commissioner

Maximum

Maximum

Information Agent and Advisory Service Fee

Contract Purchase Price

Average Invested Assets

Contract Sales Price

Contract Sales Price

Net Income, Excluding Additions to Non-cash Reserves and Gains on Sales of Assets

Average Invested Assets

Related Party Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock held by related party, in shares

'

'

'

'

'

20,000

20,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Sales commissions earned by related party

'

'

'

'

'

'

'

'

'

7.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquisition fees earned by related party

'

'

'

'

'

'

'

'

'

'

'

1.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Expected Acquisition fees earned by related party

'

'

'

'

'

'

'

'

'

'

'

0.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquisition fees and acquisition related expenses earned by related party

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4.50%

'

'

'

'

'

'

'

'

'

'

'

Asset management fees as a percentage of benchmark

'

'

'

'

'

'

'

'

'

'

'

'

0.75%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.50%

Aggregate asset management and oversight fees as a percentage of benchmark

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.75%

'

'

'

'

'

'

'

'

'

'

Cumulative capital investment return

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

Unearned Class B Units, in Lieu of Asset Management Fees Paid in Cash

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,188,667

'

Share based compensation

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$11,500,000

'

Property management fees as a percentage of benchmark

'

'

'

'

'

'

'

'

'

'

'

'

'

4.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Oversight fees as a percentage of benchmark

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.00%

'

'

'

'

'

'

'

'

'

'

'

'

Financing coordination as a percentage of benchmark

'

'

'

'

'

'

'

'

'

'

0.75%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Operating expenses as a percentage of benchmark

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25.00%

2.00%

'

'

'

Transaction management fee

3,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fees paid to related parties

'

'

600,000

0

696,000

'

'

8,000

7,160,000

'

'

'

'

'

'

'

'

'

'

'

'

'

1,500,000

6,900,000

'

'

700,000

'

'

Related Party Transaction, Transaction Fee Earned By Related Party, Percentage of Benchmark

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.25%

'

'

'

'

'

Information agent and advisory service fee

'

$1,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Real estate commission earned by related party

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.00%

50.00%

6.00%

'

'

'

'

'

'

'

Subordinated incentive listing distribution

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Related_Party_Transactions_and3

Related Party Transactions and Arrangements (Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
One-time fees and reimbursements: | Acquisition fees and related cost reimbursements	'	'	'
Related Party Transaction [Line Items]	'	'	'
Due to Affiliate	$0	'	$0
One-time fees and reimbursements: | Financing coordination fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Due to Affiliate	0	'	0
Ongoing fees:	'	'	'
Related Party Transaction [Line Items]	'	'	'
Due to Affiliate	242	'	0
Ongoing fees: | Transfer agent and other professional fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Due to Affiliate	242	'	0
Ongoing fees: | Property management and leasing fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Due to Affiliate	0	'	0
Ongoing fees: | Strategic advisory fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Due to Affiliate	0	'	0
Ongoing fees: | Distributions on Class B units	'	'	'
Related Party Transaction [Line Items]	'	'	'
Due to Affiliate	0	'	0
Incurred	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	674	2,316	'
Incurred | One-time fees and reimbursements: | Acquisition fees and related cost reimbursements	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	0	1,687	'
Incurred | One-time fees and reimbursements: | Financing coordination fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	0	450	'
Incurred | Ongoing fees: | Transfer agent and other professional fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	586	0	'
Incurred | Ongoing fees: | Property management and leasing fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	0	0	'
Incurred | Ongoing fees: | Strategic advisory fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	0	151	'
Incurred | Ongoing fees: | Distributions on Class B units	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	88	28	'
Forgiven	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	374	186	'
Forgiven | One-time fees and reimbursements: | Acquisition fees and related cost reimbursements	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	0	0	'
Forgiven | One-time fees and reimbursements: | Financing coordination fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	0	0	'
Forgiven | Ongoing fees: | Transfer agent and other professional fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	0	0	'
Forgiven | Ongoing fees: | Property management and leasing fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	374	186	'
Forgiven | Ongoing fees: | Strategic advisory fees	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	0	0	'
Forgiven | Ongoing fees: | Distributions on Class B units	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	0	0	'
New York Recovery Advisors, LLC | Advisor	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related Party Transaction, Amounts of Transaction	0	350	'
New York Recovery Advisors, LLC | Advisor | Property operating expenses absorbed	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related Party Transaction, Amounts of Transaction	0	0	'
New York Recovery Advisors, LLC | Advisor | General and administrative expenses absorbed	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related Party Transaction, Amounts of Transaction	0	350	'
New York Recovery Advisors, LLC and Realty Capital Securities, LLC | Advisor and Dealer Manager | Fees and expense reimbursements from the Advisor and Dealer Manager	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	0	696	'
Due to Affiliate	0	'	416
Realty Capital Securities, LLC | Dealer Manager | Total commissions and fees incurred from Dealer Manager	'	'	'
Related Party Transaction [Line Items]	'	'	'
Related party operation fees and reimbursements	8	7,160	'
Due to Affiliate	$0	'	$857

ShareBased_Compensation_Detail

Share-Based Compensation (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
			Stock Options	Restricted Stock	Restricted Stock	Restricted Stock	Common stock	Common stock
			Stock Option Plan		Restricted Share Plan	Restricted Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'	'
Exercise price for all stock options granted under the Plan (in dollars per share)	'	'	$10	'	'	'	'	'
Number of shares authorized, in shares	'	'	500,000	'	7,500,000	'	'	'
Shares automatically granted (in shares)	'	'	'	'	3,000	'	'	'
Vesting percentage	'	'	'	'	20.00%	'	'	'
Maximum authorized amount as a percentage of shares authorized	'	'	'	5.00%	'	'	'	'
Restricted share vesting period (in shares)	'	'	'	'5 years	'	'	'	'
Share based compensation	'	'	'	'	$16,000	$12,000	'	'
Shares issued in lieu of cash	'	'	'	'	'	'	0	1,500
Value of shares issued in lieu of cash (in thousands)	'	'	'	'	'	'	0	13,000
Common stock, par value (in dollars per share)	$0.01	$0.01	'	$0.01	'	'	'	'
Maximum percent of awards as a percent of total outstanding	'	'	'	10.00%	'	'	'	'
Compensation cost not yet recognized	'	'	'	'	$200,000	'	'	'

ShareBased_Compensation_Restri

Share-Based Compensation Restricted Stock Activity (Details) (Restricted Share Plan, Restricted Stock, USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Restricted Share Plan | Restricted Stock	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]	'	'
Beginning Balance (in shares)	24,000	'
Granted (in shares)	0	'
Vested (in shares)	0	'
Forfeited (in shares)	0	'
Ending Balance (in shares)	24,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]	'	'
Beginning Balance (in dollars per share)	$9.33	$9.33
Granted (in dollars per share)	$0	'
Vested (in dollars per share)	$0	'
Forfeited (in dollars per share)	$0	'
Ending Balance (in dollars per share)	$9.33	$9.33

Net_Loss_Per_Share_Schedule_of

Net Loss Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]	'	'
Net loss attributable to stockholders	($8,156)	($2,794)
Weighted average shares outstanding, basic and diluted	175,068,005	23,217,358
Net loss per share attributable to stockholders, basic and diluted (in dollars per share)	($0.05)	($0.12)

Net_Loss_Per_Share_Schedule_of1

Net Loss Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Total anti-dilutive common share equivalents (in shares)	823,532	136,179
Unvested restricted stock	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Total anti-dilutive common share equivalents (in shares)	24,000	19,800
OP units	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Total anti-dilutive common share equivalents (in shares)	200	200
Class B units	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Total anti-dilutive common share equivalents (in shares)	799,332	116,179

Noncontrolling_Interests_Detai

Non-controlling Interests (Details) (USD $)	3 Months Ended						3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2010	Sep. 30, 2012	Dec. 31, 2010	Dec. 31, 2010	Mar. 31, 2014	Mar. 31, 2013
			Bleecker Street	163 Washington Ave Condominiums	Unrelated Third Party	American Realty Capital	OP units	OP units
					Bleecker Street	Bleecker Street
Noncontrolling Interest [Line Items]	'	'	'	'	'	'	'	'
Total anti-dilutive common share equivalents (in shares)	823,532	136,179	'	'	'	'	200	200
Noncontrolling members' aggregate investment	'	'	$13,000,000	$500,000	$1,000,000	$12,000,000	'	'
Distributions to non-controlling interest holders	$0	$17,000	'	'	'	'	'	'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)

1 Months Ended

3 Months Ended

1 Months Ended

0 Months Ended

0 Months Ended

Sep. 30, 2010

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 30, 2012

Apr. 30, 2014

5-May-14

Apr. 14, 2014

Apr. 15, 2014

Apr. 14, 2014

Apr. 14, 2014

12-May-14

Apr. 15, 2014

Apr. 15, 2014

New York Recovery Advisors, LLC

Credit facility

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Tender Offer

Tender Offer

Class B units

Advisor

Operating Partnership Unit

Operating Partnership Unit

New York Recovery Advisors, LLC

Credit facility

Line of Credit

Subsequent Event

Subsequent Event

Subsequent Event

Average Invested Assets

Advisor

Operating Partnership Unit

Operating Partnership Unit

New York Recovery Advisors, LLC

Average Invested Assets

Subsequent Event [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Authorized repurchase amount (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

23,255,814

'

Average Price per Share (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

$10.75

$10.75

'

Shares retired (in shares)

'

'

'

'

'

'

'

'

'

'

'

12,903,858

'

'

Repurchases of common stock

'

$506,000

$426,000

'

'

'

'

'

'

'

'

$138,700,000

'

'

Dividends declared (in dollars per share)

$0.61

$0.61

'

'

'

$0.46

'

'

'

'

'

'

'

'

Asset management fees as a percentage of benchmark

'

'

'

0.75%

'

'

'

'

0.50%

'

'

'

'

'

Maximum capacity on credit facility

'

'

'

'

40,000,000

'

'

705,000,000

'

400,000,000

305,000,000

'

'

'

Additional borrowing capacity, under certain circumstances

'

'

'

'

'

'

'

1,000,000,000

'

'

'

'

'

'

Maximum for fee determination

'

'

'

'

'

'

'

'

3,000,000,000

'

'

'

'

'

Asset maximum for fee determination percentage

'

'

'

'

'

'

'

'

0.40%

'

'

'

'

'

Limited partners expected contributed capital

'

'

'

'

'

'

'

'

'

'

'

'

'

800,000

LLC or limited partnership members or limited partners ownership interest

'

'

'

'

'

'

'

'

'

'

'

'

'

83,333

Proceeds from line of credit

'

'

'

'

'

'

$68,000,000

'

'

'

'

'

'

'

Subsequent_Events_MultiYear_Ou

Subsequent Events - Multi-Year Outperformance Plan Agreement (Details) (Subsequent Event, Performance Shares, New Multi-Year Outperformance Plan)	0 Months Ended
	Apr. 15, 2014
Subsequent Event [Line Items]	'
Performance based award percentage, as Percentage of the company's market capitalization	5.00%
Share-based payment award, award vesting rights	33.33%
Distribution Entitlement Percentage	10.00%
Excess Return, Above Threshold | Absolute Component	'
Subsequent Event [Line Items]	'
Shares authorized, percentage of benchmark	4.00%
Excess Return, Above Threshold | Annual Period | Absolute Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	7.00%
Excess Return, Above Threshold | Interim Period | Absolute Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	14.00%
Excess Return, Above Threshold | Maximum | Performance Period | Absolute Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	21.00%
100 Percent Cumulative Threshold | Performance Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	18.00%
100 Percent Cumulative Threshold | Annual Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	6.00%
100 Percent Cumulative Threshold | Interim Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	12.00%
50% Component Threshold | Performance Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	0.00%
50% Component Threshold | Annual Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	0.00%
50% Component Threshold | Interim Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	0.00%
0% Cumulative Threshold | Performance Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	0.00%
0% Cumulative Threshold | Annual Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	0.00%
0% Cumulative Threshold | Interim Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	0.00%
Excess Return, Above Peer Group | Relative Component	'
Subsequent Event [Line Items]	'
Shares authorized, percentage of benchmark	4.00%
Cumulative Return, Above Threshold | Relative Component	'
Subsequent Event [Line Items]	'
Shares awarded as a percentage of maximum	100.00%
Cumulative Return, Above Threshold | Minimum | Performance Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	0.00%
Cumulative Return, Above Threshold | Minimum | Annual Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	0.00%
Cumulative Return, Above Threshold | Minimum | Interim Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	0.00%
Cumulative Return, Above Threshold | Maximum | Performance Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	18.00%
Cumulative Return, Above Threshold | Maximum | Annual Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	6.00%
Cumulative Return, Above Threshold | Maximum | Interim Period | Relative Component	'
Subsequent Event [Line Items]	'
Return percentage threshold	12.00%
Cumulative Return, Equal to Threshold | Relative Component	'
Subsequent Event [Line Items]	'
Shares awarded as a percentage of maximum	50.00%
Cumulative Return, Below Threshold | Relative Component	'
Subsequent Event [Line Items]	'
Shares awarded as a percentage of maximum	0.00%
Advisor	'
Subsequent Event [Line Items]	'
Granted (in shares)	8,880,579