New York REIT Liquidating (NYRT) 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	New York REIT, Inc.
Entity Central Index Key	1,474,464
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		162,519,934

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Real estate investments, at cost:
Land	$ 487,808	$ 494,065
Buildings, fixtures and improvements	1,231,204	1,235,918
Acquired intangible assets	156,609	158,383
Total real estate investments, at cost	1,875,621	1,888,366
Less accumulated depreciation and amortization	(183,775)	(124,178)
Total real estate investments, net	1,691,846	1,764,188
Cash and cash equivalents	20,423	22,512
Funds held in escrow	48,768	0
Restricted cash	6,284	6,347
Investment securities, at fair value	243	4,659
Investments in unconsolidated joint venture	223,229	225,501
Real estate assets held for sale, net	27,482	0
Preferred equity investment	0	35,100
Derivatives, at fair value	371	205
Tenant and other receivables	5,519	4,833
Unbilled rent receivables	41,580	30,866
Prepaid expenses and other assets	8,558	13,195
Deferred costs, net	21,716	13,429
Total assets	2,096,019	2,120,835
LIABILITIES AND EQUITY
Mortgage notes payable	388,537	172,242
Credit facility	485,000	635,000
Market lease intangibles, net	75,385	84,220
Derivatives, at fair value	2,320	1,276
Accounts payable, accrued expenses and other liabilities (including amounts due to affiliates of $357 and $575 as of September 30, 2015 and December 31, 2014, respectively)	28,768	27,850
Deferred rent	3,839	4,550
Dividends payable	26	20
Total liabilities	983,875	925,158
Common stock, $0.01 par value; 300,000,000 shares authorized, 162,519,934 and 162,181,939 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	1,626	1,622
Additional paid-in capital	1,402,990	1,401,619
Accumulated other comprehensive loss	(2,301)	(816)
Accumulated deficit	(341,110)	(255,478)
Total stockholders' equity	1,061,205	1,146,947
Non-controlling interests	50,939	48,730
Total equity	1,112,144	1,195,677
Total liabilities and equity	2,096,019	2,120,835
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 ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Due to affiliate	$ 357	$ 575
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)	162,519,934	162,181,939
Common stock, shares outstanding (in shares)	162,519,934	162,181,939
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 OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Rental income	$ 32,510	$ 30,246	$ 97,171	$ 83,521
Hotel revenue	7,054	6,051	18,626	15,498
Operating expense reimbursements and other revenue	5,044	4,217	13,390	11,036
Total revenues	44,608	40,514	129,187	110,055
Operating expenses:
Property operating	11,197	9,297	32,264	26,459
Hotel operating	6,525	6,260	18,690	17,182
Operating fees incurred from the Advisor	3,121	2,980	9,366	5,254
Acquisition and transaction related	2,850	4,436	3,071	16,082
Vesting of asset management fees	0	0	0	11,500
Change in fair value of listing promote	0	(24,700)	0	13,400
General and administrative	6,519	3,339	15,672	7,458
Depreciation and amortization	20,484	21,657	63,370	62,892
Total operating expenses	50,696	23,269	142,433	160,227
Operating income (loss)	(6,088)	17,245	(13,246)	(50,172)
Other income (expenses):
Interest expense	(7,172)	(8,407)	(19,129)	(17,159)
Income (loss) from unconsolidated joint venture	473	(85)	1,278	(1,121)
Income from preferred equity investment, investment securities and interest	141	769	1,079	2,070
Gain (loss) on derivative instruments	(540)	0	(544)	1
Total other expenses	(7,098)	(7,723)	(17,316)	(16,209)
Net income (loss)	(13,186)	9,522	(30,562)	(66,381)
Net loss attributable to non-controlling interests	434	173	952	683
Net income (loss) attributable to stockholders	(12,752)	9,695	(29,610)	(65,698)
Other comprehensive income (loss):
Unrealized gain (loss) on derivatives	(580)	1,164	(1,246)	3
Unrealized gain (loss) on investment securities	(151)	(77)	(239)	251
Total other comprehensive income (loss)	(731)	1,087	(1,485)	254
Comprehensive income (loss) attributable to stockholders	$ (13,483)	$ 10,782	$ (31,095)	$ (65,444)
Basic weighted average shares outstanding (in shares)	162,202,733	161,975,420	162,150,947	168,624,050
Basic net income (loss) per share attributable to stockholders (in dollars per share)	$ (0.08)	$ 0.06	$ (0.18)	$ (0.39)
Diluted weighted average common shares outstanding (in shares)	162,202,733	162,181,209	162,150,947	168,624,050
Diluted net income (loss) per share attributable to stockholders (in dollars per share)	$ (0.08)	$ 0.05	$ (0.18)	$ (0.39)
Dividends declared per common share (in dollars per share)	$ 0.12	$ 0.12	$ 0.35	$ 0.35

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Total	Total Stockholders' Equity	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Non- controlling Interests
Beginning Balance (in shares) at Dec. 31, 2014			162,181,939
Beginning Balance at Dec. 31, 2014	$ 1,195,677	$ 1,146,947	$ 1,622	$ 1,401,619	$ (816)	$ (255,478)	$ 48,730
Increase (Decrease) in Stockholders' Equity [Roll Forward]
OP units converted to common stock (in shares)			92,751
OP units converted to common stock	0	974	$ 1	973			(974)
Equity-based compensation (in shares)			245,244
Equity-based compensation	6,518	401	$ 3	398			6,117
Distributions to non-controlling interest holders	(1,982)						(1,982)
Dividends declared	(56,022)	(56,022)				(56,022)
Net loss	(30,562)	(29,610)				(29,610)	(952)
Other comprehensive loss	(1,485)	(1,485)			(1,485)
Ending Balance (in shares) at Sep. 30, 2015			162,519,934
Ending Balance at Sep. 30, 2015	$ 1,112,144	$ 1,061,205	$ 1,626	$ 1,402,990	$ (2,301)	$ (341,110)	$ 50,939

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net loss	$ (30,562)	$ (66,381)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	63,370	62,892
Amortization of deferred financing costs	4,539	6,533
Accretion of below- and amortization of above-market lease liabilities and assets, net	(5,810)	(7,015)
Vesting of asset management fees	0	11,500
Equity-based compensation	6,518	4,548
Loss on fair value of the listing promote and other derivatives	120	13,399
Loss (income) from unconsolidated joint venture	(1,278)	1,121
Gain on sale of investment securities	(102)	0
Bad debt expense	760	0
Changes in assets and liabilities:
Tenant and other receivables	(724)	(4,046)
Unbilled rent receivables	(11,251)	(11,973)
Prepaid expenses, other assets and deferred costs	2,325	(96)
Accrued unbilled ground rent	2,493	3,260
Accounts payable and accrued expenses	3,557	(7,671)
Due from affiliated entities	0	(1,000)
Deferred rent	(711)	(4,007)
Net cash provided by operating activities	33,244	1,064
Cash flows from investing activities:
Proceeds from sale of preferred equity investment	35,100	0
Investment in real estate and other assets	0	(316,206)
Acquisition funds released from (held in) escrow	4,748	(8,428)
Capital expenditures	(23,325)	(5,842)
Distributions from unconsolidated joint venture	3,550	5,177
Proceeds from sale of investment securities	4,357	0
Purchase of investment securities	(78)	(3,035)
Net cash provided by (used in) investing activities	24,352	(328,334)
Cash flows from financing activities:
Proceeds from mortgage notes payable	305,000	0
Payments on mortgage notes payable	(88,705)	(353)
Payments of financing costs	(10,720)	(7,293)
Proceeds from credit facility	0	320,000
Payments on credit facility	150,000	0
Proceeds from issuance of common stock	0	11,311
Proceeds from issuance of operating partnership units	0	750
Payments for purchase of derivative instruments	(488)	0
Repurchases of common stock, inclusive of fees and expenses	0	(154,269)
Payments of offering costs and fees related to stock issuances	0	(1,506)
Increases in funds held in escrow related to financing transactions	(52,089)	0
Dividends paid	(56,016)	(47,464)
Distributions to non-controlling interest holders	(1,982)	(414)
Restricted cash	(4,685)	(758)
Net cash provided by (used in) financing activities	(59,685)	120,004
Net decrease in cash and cash equivalents	(2,089)	(207,266)
Cash and cash equivalents, beginning of period	22,512	233,377
Cash and cash equivalents, end of period	20,423	26,111
Supplemental disclosures:
Cash paid for interest	14,932	10,496
Noncash Investing and Financing Items [Abstract]
Dividends payable	26	0
Accrued capital expenditures	1,418	0
Conversion of OP units to common stock	974	0
Common stock issued through distribution reinvestment plan	$ 0	$ 19,019

Organization

Organization	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization New York REIT, Inc. (the "Company") focuses on acquiring and owning income-producing commercial real estate in New York City, primarily office and retail properties located in Manhattan. 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 interests related to New York City real estate. The Company purchased its first property and commenced active operations in June 2010. As of September 30, 2015 , the Company owned 23 properties and real estate-related assets. The Company, incorporated on October 6, 2009, is a Maryland corporation that qualified as a real estate investment trust for U.S. federal income tax purposes ("REIT") beginning with its taxable year ended December 31, 2010. The Company operated as a non-traded 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"). 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 direct 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 initial public offering, which was ongoing from September 2010 to December 2013 (the "IPO") and, together with its affiliates, continues to provide the Company with various services. The Advisor, Property Manager and Dealer Manager are under common control with AR Capital, LLC ("ARC"), the parent of the Company's sponsor, 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 Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
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 and nine months ended September 30, 2015 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, 2014 , which are included in the Company's Annual Report on Form 10-K filed with the SEC on May 11, 2015 . There have been no significant changes to the Company's significant accounting policies during the three and nine months ended September 30, 2015 , other than the updates described below and in the subsequent notes. Reclassifications Certain prior quarter amounts have been reclassified to conform to the current quarter presentation, which did not have a material impact on the Company's financial statements. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued revised guidance relating to revenue recognition. Under the revised guidance, an entity is required to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revised guidance was to become effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption was not permitted under GAAP. The revised guidance allows entities to apply the full retrospective or modified retrospective transition method upon adoption. In July 2015, the FASB deferred the effective date of the revised guidance by one year to annual reporting periods beginning after December 15, 2017, although entities will be allowed to early adopt the guidance as of the original effective date. The Company has not yet selected a transition method and is currently evaluating the impact of the new guidance. In January 2015, the FASB issued updated guidance that eliminates extraordinary item classification from GAAP, which was the concept of an event or transaction that is unusual in nature and occurs infrequently being treated as an extraordinary item. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Any amendments may be applied either prospectively or retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company has opted to adopt this revised guidance early and has determined that there has been no impact to its financial position, results of operations and cash flows. In February 2015, the FASB amended the accounting for consolidation of certain legal entities. The amendments modify the evaluation of whether certain legal entities are variable interest entities ("VIEs") or voting interest entities, eliminate the presumption that a general partner should consolidate a limited partnership and affect the consolidation analysis of reporting entities that are involved with VIEs (particularly those that have fee arrangements and related party relationships). The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The Company has not yet selected a transition method and is currently evaluating the impact of the new guidance. In April 2015, the FASB amended the presentation of debt issuance costs on the balance sheet. The amendment requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability. In August 2015, the FASB added that, for line of credit arrangements, the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line, regardless of whether or not there are any outstanding borrowings. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted for financial statements that have not previously been issued. The revised guidance is not expected to have a significant impact on the Company's financial position, results of operations or cash flows. In September 2015, the FASB issued an update that eliminates the requirement to adjust provisional amounts from a business combination and the related impact on earnings by restating prior period financial statements for measurement period adjustments. The new guidance requires that the cumulative impact of measurement period adjustments on current and prior periods, including the prior period impact on depreciation, amortization and other income statement items and their related tax effects, shall be recognized in the period the adjustment amount is determined. The cumulative adjustment would be reflected within the respective financial statement line items affected. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company has elected to adopt the new guidance as of September 30, 2015. The adoption of this guidance had no impact on the Company's consolidated financial position, results of operations or cash flows.

Real Estate Investments

Real Estate Investments	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Real Estate Investments	Real Estate Investments The following table presents the allocation of the assets acquired and liabilities assumed during the nine months ended September 30, 2014 . There were no real estate assets acquired or liabilities assumed during the nine months ended September 30, 2015 . Nine Months Ended (In thousands) September 30, 2014 Real estate investments, at cost: Land $ 68,251 Buildings, fixtures and improvements 233,607 Total tangible assets 301,858 Acquired intangibles: In-place leases 25,169 Other intangible 3,804 Above-market lease assets 3,707 Below-market lease liabilities (23,705 ) Total acquired intangibles 8,975 Total assets acquired, net 310,833 Additional investment in unconsolidated joint venture 273 Preferred equity investment 5,100 Cash paid for acquired real estate investments and other assets $ 316,206 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 September 30, 2015 . 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 Cash Rental Payments October 1, 2015 - December 31, 2015 $ 26,745 2016 99,361 2017 99,291 2018 97,216 2019 95,837 Thereafter 652,674 $ 1,071,124 The following table lists the tenants whose annualized cash rent represented greater than 10% of total annualized cash rent as of September 30, 2015 and 2014 , including annualized cash rent related to the Company's unconsolidated joint venture: September 30, Property Portfolio Tenant 2015 2014 Worldwide Plaza Cravath, Swaine & Moore, LLP 16% 16% Worldwide Plaza Nomura Holdings America, Inc. 10% 11% The termination, delinquency or non-renewal of any of the above tenants may have a material adverse effect on net income (loss). Real Estate Held For Sale When assets are identified by management as held for sale, the Company stops recognizing depreciation and amortization expense on the identified assets and estimates the sales price, net of costs to sell, of those assets. If the carrying amount of the assets classified as held for sale exceeds the estimated net sales price, the Company records an impairment charge equal to the amount by which the carrying amount of the assets exceeds the Company's estimate of the net sales price of the assets. In September 2015, the Company entered into an agreement to sell its property located at 163 Washington Avenue in Brooklyn, NY for a contract purchase price of $37.7 million . Concurrently with entering into the agreement, the Company stopped recognizing depreciation and amortization expense and the real estate assets associated with 163 Washington Avenue were reclassified as held for sale on the Company's consolidated balance sheet as of September 30, 2015 . No impairment charges were required to be recognized on 163 Washington Avenue. On October 21, 2015, the Company closed on the sale of 163 Washington Avenue. See Note 20 — Subsequent Events. The following table details the major classes of assets associated with 163 Washington Avenue that have been reclassified as held for sale as of September 30, 2015 : (In thousands) September 30, 2015 Real estate held for sale, at cost: Land $ 6,257 Buildings, fixtures and improvements 25,122 Acquired intangible lease assets 49 Total real estate held for sale, at cost 31,428 Less accumulated depreciation and amortization (3,946 ) Real estate assets held for sale, net $ 27,482

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Venture	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated 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 , based on the property value for Worldwide Plaza of $1,325.0 million less $875.0 million of debt on the property. As of September 30, 2015 , the Company's pro-rata portion of debt on Worldwide Plaza was $427.9 million . 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. Pursuant to the terms of the membership agreement governing 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, or December 2016, at an agreed-upon property value of $1.4 billion , subject to certain adjustments, including, but not limited to, adjustments for certain loans that are outstanding at the time of exercise, adjustments for the percentage equity interest being acquired and any of the Company's preferred return in arrears. If the Company does not exercise its purchase option, it will be subject to a fee in the amount of $25.0 million . 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 its equity interest in Worldwide Plaza over the book value of Worldwide Plaza's net assets. Substantially all of this basis difference was allocated to the fair values of Worldwide Plaza's assets and liabilities. The Company amortizes the basis difference over the anticipated useful lives of the underlying tangible and intangible assets acquired and liabilities assumed. The basis difference related to the land will be recognized upon disposition of the Company's investment. As of September 30, 2015 and December 31, 2014 , the carrying value of the Company's investment in Worldwide Plaza was $223.2 million and $225.5 million , respectively. The amounts reflected in the following tables (except for the Company’s share of equity and income) are based on the financial information of Worldwide Plaza. The Company does not record losses of the joint venture in excess of its investment balance because the Company is not 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 September 30, 2015 and December 31, 2014 for Worldwide Plaza are as follows: (In thousands) September 30, December 31, (Unaudited) Real estate assets, at cost $ 714,875 $ 704,143 Less accumulated depreciation and amortization (112,046 ) (97,181 ) Total real estate assets, net 602,829 606,962 Cash and cash equivalents 11,951 3,784 Other assets 258,529 252,000 Total assets $ 873,309 $ 862,746 Debt $ 875,000 $ 875,000 Other liabilities 17,240 12,442 Total liabilities 892,240 887,442 Deficit (18,931 ) (24,696 ) Total liabilities and deficit $ 873,309 $ 862,746 Company's basis $ 223,229 $ 225,501 The condensed statements of operations for the three and nine months ended September 30, 2015 and 2014 for Worldwide Plaza are as follows: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Rental income $ 30,771 $ 28,867 $ 92,036 $ 84,261 Other revenue 1,245 1,242 3,694 3,686 Total revenue 32,016 30,109 95,730 87,947 Operating expenses: Operating expenses 11,812 11,407 35,780 33,699 Depreciation and amortization 6,945 6,261 20,659 18,889 Total operating expenses 18,757 17,668 56,439 52,588 Operating income 13,259 12,441 39,291 35,359 Interest expense (10,102 ) (10,102 ) (29,976 ) (29,976 ) Net income 3,157 2,339 9,315 5,383 Preferred return (3,936 ) (3,936 ) (11,681 ) (11,681 ) Net loss to members $ (779 ) $ (1,597 ) $ (2,366 ) $ (6,298 ) Net income (loss) related to Worldwide Plaza includes the Company's pro rata share of Worldwide Plaza net income (loss) to members as well as the Company's preferred return less depreciation and amortization expenses related to the amortization of the basis difference. The following table presents the components of the income (loss) related to the Company's investment in Worldwide Plaza for the periods presented, which is included in income (loss) from unconsolidated joint venture on the consolidated statements of operations and comprehensive income (loss). Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Company's preferred return $ 3,936 $ 3,936 $ 11,681 $ 11,681 Company's share of net loss from Worldwide Plaza (381 ) (780 ) (1,157 ) (3,079 ) Amortization of basis difference (3,082 ) (3,241 ) (9,246 ) (9,723 ) Company's income (loss) from Worldwide Plaza $ 473 $ (85 ) $ 1,278 $ (1,121 )

Preferred Equity Investment

Preferred Equity Investment	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Preferred Equity Investment	Preferred Equity Investment On March 27, 2015, the Company's preferred equity investment in a class A office building located at 123 William Street (the "Property") in the Financial District of downtown Manhattan was repaid as a result of the sale of the Property. The preferred equity investment carried a 6.0% current pay rate and a 2.0% accrual rate. Pursuant to the sale of the Property, the Company received $1.1 million in current and accrued interest income earned and $35.1 million for the return of all principal invested. The preferred equity investment had 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 recorded returns earned in income from preferred equity investment, investment securities and interest income on the consolidated statements of operations and comprehensive income (loss).

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities The Company's investment securities consist of an investment in redeemable preferred stock with a fair value of $0.2 million as of September 30, 2015 . As of December 31, 2014 , the Company's investment securities consisted of redeemable preferred stock and equity securities, with an aggregate fair value of $4.7 million . The equity securities, which were sold during the three months ended September 30, 2015, consisted of a real estate income fund managed by an affiliate of the Sponsor. See Note 14 — Related Party Transactions and Arrangements. The Company's preferred stock investment is redeemable at the issuer's option after five years from issuance. The following table details the unrealized gains and losses on investment securities as of September 30, 2015 and December 31, 2014 : (In thousands) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2015 Redeemable preferred stock $ 238 $ 5 $ — $ 243 December 31, 2014 Redeemable preferred stock $ 1,288 $ 21 $ (12 ) $ 1,297 Equity securities 3,127 235 — 3,362 Total $ 4,415 $ 256 $ (12 ) $ 4,659 As of September 30, 2015 , the Company did not have any securities in a continuous unrealized loss position. No other-than-temporary impairment charges were required to be recognized during the three and nine months ended September 30, 2015 and 2014 .

Credit Facility

Credit Facility	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Credit Facility	Credit Facility On April 14, 2014, the Company amended and restated its credit facility with Capital One, National Association (the "Credit Facility"). The Credit 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 term loan component of the Credit Facility matures in August 2018 and the revolving loan component matures in August 2016. The Company has two options to extend the maturity date of the revolving loan component of the Credit Facility through August 2018. The Credit Facility contains an "accordion feature" to allow the Company, under certain circumstances, and with the consent of its lenders, to increase the aggregate loan borrowings to up to $1.0 billion of total borrowings. On August 27, 2015, the Company entered into an amendment pursuant to which certain changes were made under the Credit Facility primarily to increase the borrowing base capacity including, among other changes, (i) the ability to add a hotel asset as a borrowing base asset and (ii) reducing the debt service coverage ratio test from 1.4 to 1.3 for draw downs on the Credit Facility. The Company incurred $6.3 million of fees related to the amendment of which $3.9 million have been capitalized and included in deferred costs on the consolidated balance sheets and $2.4 million are included in acquisition and transaction related expense on the consolidated statements of operations and comprehensive income (loss). The Company has the option, based upon its corporate leverage, to have the Credit Facility priced at either: (a) LIBOR, plus an applicable margin that ranges from 1.50% to 2.25% ; or (b) the Base Rate plus an applicable margin that ranges from 0.50% to 1.25% . Base Rate is defined in the Credit Facility as the greater 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 Company repaid $150.0 million in advances on the revolving portion of its Credit Facility during the three months ended September 30, 2015 . The outstanding balance of the term and revolving portions of the Credit Facility was $305.0 million and $180.0 million , respectively, as of September 30, 2015 and $305.0 million and $330.0 million , respectively as of December 31, 2014 . The Credit Facility had a combined weighted average interest rate of 2.21% and 2.08% as of September 30, 2015 and December 31, 2014 , respectively, a portion of which is fixed with an interest rate swap. The Credit Facility includes an unused commitment fee per annum of (a) 0.15% if the unused balance of the facility is equal to or less than 50% of the available facility and (b) 0.25% if the unused balance of the facility exceeds 50% of the available facility. The unused borrowing capacity, based on the borrowing base properties as of September 30, 2015 , was $65.3 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 September 30, 2015 , the Company was in compliance with the debt covenants under the Credit Facility.

Mortgage Notes Payable

Mortgage Notes Payable	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Mortgage Notes Payable	Mortgage Notes Payable The Company's mortgage notes payable as of September 30, 2015 and December 31, 2014 consist of the following: Outstanding Loan Amount Portfolio Encumbered Properties September 30, December 31, Effective Interest Rate Interest Rate Maturity (In thousands) (In thousands) Design Center 1 $ 19,899 $ 20,198 4.4 % Fixed Dec. 2021 Foot Locker 1 3,250 3,250 4.6 % Fixed Jun. 2016 Duane Reade 1 8,400 8,400 3.6 % Fixed Nov. 2016 1100 Kings Highway 1 20,200 20,200 3.4 % Fixed (1) Aug. 2017 1623 Kings Highway 1 7,288 7,288 3.3 % Fixed (1) Nov. 2017 256 West 38th Street 1 24,500 24,500 3.1 % Fixed (1) Dec. 2017 1440 Broadway (2) 1 305,000 — 3.8 % Variable (3) Oct. 2019 Bleecker Street — 21,300 Regal Parking Garage — 3,000 Washington Street Portfolio — 4,741 One Jackson Square — 13,000 350 West 42nd Street — 11,365 229 West 36th Street — 35,000 7 $ 388,537 $ 172,242 3.8 % (4) ______________________ (1) Fixed through an interest rate swap agreement. (2) Total commitments of $325.0 million ; additional $20.0 million available, subject to lender approval, to fund certain tenant allowances, capital expenditures and leasing costs. (3) LIBOR portion is capped through an interest rate cap agreement. (4) Calculated on a weighted average basis for all mortgages outstanding as of September 30, 2015 . During the three and nine months ended September 30, 2015 , the Company paid off six mortgage notes payable before the scheduled maturity dates. As a result, the Company incurred $1.8 million in expenses related to these transactions, which relates to prepayment penalties and the write-off of previously recorded deferred financing costs, of which $0.6 million is included in acquisition and transaction related expenses and $1.2 million is included in interest expense on the consolidated statements of operations and comprehensive income (loss). On September 30, 2015, in connection with the mortgage notes payable secured by its property located at 1440 Broadway, the Company executed guarantees in favor of the lenders with respect to the costs of certain unfunded obligations of the Company related to tenant allowances, capital expenditures and leasing costs, which guarantees are capped at $5.3 million in the aggregate. The guarantees expire in October 2019, the maturity date of the 1440 Broadway mortgage. The Company will be required to fund the guarantees if certain tenants exercise contractual renewal options outlined in their respective lease agreements. As of September 30, 2015 , the Company has not been required to perform under the guarantees and has not recognized any assets or liabilities related to the guarantees. Real estate investments of $710.0 million , at cost, at September 30, 2015 have been pledged as collateral to their respective mortgages and are not available to satisfy the Company's corporate debts and obligations unless first satisfying the mortgage notes payable on the properties. The following table summarizes the scheduled aggregate principal repayments subsequent to September 30, 2015 : (In thousands) Future Minimum Principal Payments October 1, 2015 - December 31, 2015 $ 101 2016 12,068 2017 55,533 2018 3,703 2019 308,869 Thereafter 8,263 Total $ 388,537 Some of the Company's mortgage note agreements require compliance with certain property-level financial covenants including debt service coverage ratios. As of September 30, 2015 , the Company was in compliance with the financial covenants under its mortgage note agreements.

Subordinated Listing Distributi

Subordinated Listing Distribution Derivative	9 Months Ended
	Sep. 30, 2015
Subordinated Listing Distribution Derivative [Abstract]
Subordinated Listing Distribution Derivative	Subordinated Listing Distribution Derivative Upon occurrence of the Listing, New York Recovery Special Limited Partnership, LLC (the "SLP") became entitled to begin receiving distributions of net sale proceeds pursuant to its special limited partner interest in the OP (the "SLP Interest") in an aggregate amount that was evidenced by the issuance of a note by the OP (the "Listing Note"). The Listing Note was equal to 15.0% 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 the Listing, plus dividends paid by the Company prior to the Listing, exceeded (b) the sum of the total amount of capital raised from stockholders during the Company’s IPO and the amount of cash flow necessary to generate a 6.0% annual cumulative, non-compounded return to such stockholders. Concurrently with the Listing, the Company, as general partner of the OP, caused the OP to enter into the Listing Note Agreement dated April 15, 2014 by and between the OP and the SLP, and caused the OP to issue the Listing Note. The Listing Note was evidence of the SLP's right to receive distributions of net sales proceeds from the sale of the Company's real estate and real estate-related assets up to an aggregate amount equal to the principal balance of the Listing Note. Pursuant to the terms of the Partnership Agreement, the SLP had the right, but not the obligation, to convert all or a portion of the SLP interest into limited partnership units of the OP ("OP units"), which are convertible into shares of the Company's common stock or the cash value of a corresponding number of shares, at the Company's election, in accordance with the limited partnership agreement of the OP. The principal amount of the Listing Note was determined based, in part, on the actual market value of the Company’s outstanding common stock for the period 180 days to 210 days after the Listing. Until the final principal amount of the Listing Note was determined in November 2014, the Listing Note was considered to be a derivative which was marked to fair value at each reporting date, with changes in the fair value recorded in the consolidated statements of operations and comprehensive income (loss), which resulted in a gain of $24.7 million and a loss of $13.4 million , respectively, during the three and nine months ended September 30, 2014 . The principal amount of the Listing Note was determined to be $33.5 million and was recorded as an expense in the consolidated statements of operations and comprehensive income (loss) during the year ended December 31, 2014. On November 21, 2014, at the request of the SLP, the Listing Note was converted into 3,062,512 OP units and the value of the Listing Note was reclassified from derivative liabilities to non-controlling interest on the consolidated balance sheets.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2015
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 instrument. This alternative approach also reflects the contractual terms of the instruments, as applicable, including the period to maturity, and may use observable market-based inputs, including interest rate curves and implied volatilities, and unobservable inputs, such as expected volatility. 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, such as interest rate swaps and caps, 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 September 30, 2015 and December 31, 2014 , 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. See Note 11 — Interest Rate Derivatives and Hedging Activities. The valuation of derivatives 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 as of September 30, 2015 and had investments in redeemable preferred stock and an equity security as of December 31, 2014 that are traded in active markets and therefore, due to the availability of quoted market prices in active markets, the Company 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 September 30, 2015 and December 31, 2014 , aggregated by the level in the fair value hierarchy within which those instruments fall: (In thousands) Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Total September 30, 2015 Derivatives, net $ — $ (1,949 ) $ — $ (1,949 ) Investment securities $ 243 $ — $ — $ 243 December 31, 2014 Derivatives, net $ — $ (1,071 ) $ — $ (1,071 ) Investment securities $ 4,659 $ — $ — $ 4,659 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 levels of the fair value hierarchy during the three and nine months ended September 30, 2015 . Financial instruments not carried at fair value 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, notes payable, accounts payable and dividends payable approximates their carrying value on the consolidated balance sheets 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. September 30, 2015 December 31, 2014 (In thousands) Level Carrying Amount Fair Value Carrying Amount Fair Value Mortgage notes payable 3 $ 388,537 $ 390,897 $ 172,242 $ 174,468 Credit Facility 3 $ 485,000 $ 487,934 $ 635,000 $ 651,579 Preferred equity investment 3 $ — $ — $ 35,100 $ 34,800 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 similar types of arrangements. The Company's preferred equity investment was repaid in March 2015. See Note 5 — Preferred Equity Investment. Advances under the Credit Facility with variable interest rates and advances under the revolving portion of the Credit Facility are considered to be reported at fair value.

Interest Rate Derivatives and H

Interest Rate Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Derivatives and Hedging Activities	Interest Rate 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 utilize derivatives for speculative or 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. 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 primarily uses 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 loss 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. During the three and nine months ended September 30, 2015 , the Company terminated two of its interest rate swaps, which made it probable that the forecasted transactions would not occur and, as a result, accelerated the reclassification of amounts in accumulated other comprehensive loss to earnings. The accelerated amounts resulted in a loss of $0.2 million for the three and nine months ended September 30, 2015 , which is included in the gain (loss) on derivative instruments on the consolidated statements of operations and comprehensive income (loss). Amounts reported in accumulated other comprehensive loss 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 $1.4 million will be reclassified from accumulated other comprehensive loss as an increase to interest expense. As of September 30, 2015 and December 31, 2014 , the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk. September 30, 2015 December 31, 2014 Interest Rate Derivative Number of Instruments Notional Amount Number of Instruments Notional Amount (In thousands) (In thousands) Interest rate swaps 4 $ 131,988 6 $ 179,988 Derivatives Not Designated as Hedges Derivatives not designated as hedges are not speculative and 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 under GAAP. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings, which resulted in an expense of $0.3 million during the three and nine months ended September 30, 2015 and included in gain (loss) on derivative instruments on the consolidated statements of operations and comprehensive income (loss). As of September 30, 2015 , the Company had the following outstanding interest rate derivatives that were not designated as hedges in qualified hedging relationships. September 30, 2015 December 31, 2014 Interest Rate Derivative Number of Instruments Notional Amount Number of Instruments Notional Amount (In thousands) (In thousands) Interest rate caps 1 $ 265,000 — $ — 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 September 30, 2015 and December 31, 2014 : (In thousands) Balance Sheet Location September 30, 2015 December 31, 2014 Derivatives designated as hedging instruments: Interest rate swaps Derivative assets, at fair value $ — $ 205 Interest rate swaps Derivative liabilities, at fair value $ (2,320 ) $ (1,276 ) Derivatives not designated as hedging instruments: Interest rate caps Derivative assets, at fair value $ 371 $ — Derivatives in Cash Flow Hedging Relationships The table below details the location in the financial statements of the income or loss recognized on interest rate derivatives designated as cash flow hedges for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Amount of loss recognized in accumulated other comprehensive income (loss) from interest rate derivatives (effective portion) $ (1,286 ) $ 619 $ (3,005 ) $ (1,613 ) Amount of loss reclassified from accumulated other comprehensive income (loss) into income as interest expense (effective portion) $ (706 ) $ (545 ) $ (1,759 ) $ (1,616 ) Amount of loss recognized in loss on derivative instruments (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing) $ — $ — $ (4 ) $ 1 Offsetting Derivatives The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of September 30, 2015 and December 31, 2014 . 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 consolidated 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 September 30, 2015 $ 371 $ (2,320 ) $ (1,949 ) $ — $ — $ (1,949 ) December 31, 2014 $ 205 $ (1,276 ) $ (1,071 ) $ — $ — $ (1,071 ) 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 September 30, 2015 , 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 $2.4 million . As of September 30, 2015 , 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 $2.4 million at September 30, 2015 .

Common Stock

Common Stock	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Common Stock	Common Stock As of September 30, 2015 and December 31, 2014 , the Company had 162.5 million and 162.2 million shares of common stock outstanding, respectively, including shares of unvested restricted common stock ("restricted shares"), converted preferred shares and shares issued under the distribution reinvestment plan (the "DRIP"), but not including OP units or Long-term Incentive Plan units ("LTIP units") which may in the future be convertible into shares of common stock. From December 2010 to April 2014, the Company declared and paid dividends at a dividend rate equal to $0.605 per annum per share of common stock. The dividends were 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. In April 2014, the Company's board of directors authorized, and the Company declared, a monthly dividend at an annualized rate equal to $0.46 per share per annum. Beginning in April 2014, dividends are paid to stockholders of record on the close of business on the 8th day of each month, payable on the 15th day of such month. The Company's board of directors may reduce the amount of dividends paid or suspend dividend payments at any time and therefore dividend payments are not assured. Accumulated Other Comprehensive Income (Loss) The following table illustrates the changes in accumulated other comprehensive income (loss) as of and for the periods indicated: Unrealized gains Change in Total on available-for-sale unrealized gain accumulated other (in thousands) securities (loss) on derivatives comprehensive loss Balance, December 31, 2014 $ 244 $ (1,060 ) $ (816 ) Other comprehensive loss, before reclassifications (137 ) (3,005 ) (3,142 ) Amounts reclassified from accumulated other comprehensive income (loss) (102 ) 1,759 1,657 Net current-period other comprehensive loss (239 ) (1,246 ) (1,485 ) Balance, September 30, 2015 $ 5 $ (2,306 ) $ (2,301 ) For a reconciliation of the income statement line item affected due to amounts reclassified out of accumulated other comprehensive loss for the three and nine months ended September 30, 2015 , see Note 11 — Interest Rate Derivatives and Hedging Activities.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Future Minimum Lease Payments The Company entered into operating and capital lease agreements primarily related to certain acquisitions under leasehold interest arrangements. The following table reflects the minimum base cash payments due from the Company over the next five years and thereafter under these arrangements, including the present value of the net minimum payments due under capital leases. 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. Future Minimum Base Rent Payments (In thousands) Operating Leases Capital Leases October 1, 2015 - December 31, 2015 $ 1,242 $ 22 2016 4,958 86 2017 4,905 86 2018 5,089 86 2019 5,346 86 Thereafter 251,627 3,490 Total minimum lease payments $ 273,167 $ 3,856 Less: amounts representing interest (1,737 ) Total present value of minimum lease payments $ 2,119 Total rental expense related to operating leases was $1.9 million and $5.8 million , respectively, for the three and nine months ended September 30, 2015 and 2014 . During the three and nine months ended September 30, 2015 and 2014 , interest expense related to capital leases was approximately $16,000 and $48,000 , respectively. The following table discloses assets recorded under capital leases and the accumulated amortization thereon as of September 30, 2015 and December 31, 2014 . (In thousands) September 30, 2015 December 31, 2014 Buildings, fixtures and improvements $ 11,783 $ 11,783 Less accumulated depreciation and amortization (1,563 ) (1,137 ) Total real estate investments, net $ 10,220 $ 10,646 Litigation and Regulatory Matters In the ordinary course of business, the Company may become subject to litigation, claims and regulatory matters. There are no material legal or regulatory proceedings pending or known to be contemplated against the Company. RXR Realty (“RXR”) initiated a suit against the Company alleging that it suffered “lost profits” in connection with the Company’s purchase of Worldwide Plaza in October 2013. On August 12, 2014, the Supreme Court of the State of New York dismissed all of RXR’s claims against the seller of Worldwide Plaza and dismissed RXR’s disgorgement claims against the Company, permitting only a limited, immaterial claim against the Company for RXR’s cost of producing due diligence-related material to proceed. RXR appealed the ruling and, on October 13, 2015, the appellate court upheld the previous decisions; however, the appellate court held that the trial court's exclusion of lost profit damages was premature and would have to be considered through a motion for summary judgment. The Company intends to move for summary judgment. The Company has not recognized a liability with respect to RXR's claim because the Company does not believe that it is probable that it will incur a related material loss. Environmental Matters In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. The Company 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	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions and Arrangements	Related Party Transactions and Arrangements The Advisor and the SLP each hold an interest in the OP. See Note 19 — Non-Controlling Interests. During the nine months ended September 30, 2015 , the Company had investments in a real estate income fund managed by an affiliate of the Sponsor (see Note 6 — Investment Securities). There was no obligation to purchase any additional shares and the shares could have been sold at any time. The Company sold its investments in the real estate income fund during the three months ended September 30, 2015 . The Company recognized income on this investment of $0.1 million during the three and nine months ended September 30, 2015 , including the gain recognized on the sale of the investments. During the three and nine months ended September 30, 2014 , the Company recognized income of approximately $36,000 . The following table details revenues and accounts receivable from related parties at the Viceroy Hotel. Three Months Ended September 30, Nine Months Ended September 30, Receivable as of (In thousands) 2015 2014 2015 2014 September 30, 2015 December 31, 2014 Hotel revenues $ 25 $ 164 $ 110 $ 318 $ — $ 23 Fees Paid in Connection With the Operations of the Company Prior to October 12, 2014 (the "Termination Date"), the Advisor received 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 and, if the Advisor provided services in connection with the origination or refinancing of any debt that the Company obtained and used to acquire assets, or that is assumed, directly or indirectly, in connection with the acquisition of assets, the Company paid the Advisor a financing coordination fee equal to 0.75% of the amount available or outstanding under such financing or such assumed debt. Additionally, the Company reimbursed the Advisor for expenses incurred by the Advisor for services provided by third parties and acquisition expenses incurred by the Advisor directly from third parties. The total of all acquisition fees, acquisition expenses and any financing coordination fees with respect to the Company's portfolio of investments or reinvestments did not exceed 4.5% of the contract purchase price of the Company's portfolio as measured as of the Company's last property acquisition. On April 15, 2014, in conjunction with the Listing, the Company amended and restated its advisory agreement, by and among the Company, the OP and the Advisor, which, among other things, terminated the acquisition fee and financing coordination fee on the Termination Date, which was 180 days after the Listing. The Company amended and restated its advisory agreement again on June 26, 2015 (as amended from time to time, the "Advisory Agreement"), which, among other things, removed the 2%/25% Limitation (defined below). In the future, if the Company acquires additional properties, the Company will reimburse the Advisor for expenses incurred by the Advisor for services provided by third parties and acquisition expenses incurred by the Advisor directly from third parties, but will not pay acquisition fees or financing coordination fees. Until the Listing, the Company paid the Advisor an asset management subordinated participation by causing the OP to issue (subject to periodic approval by the board of directors) to the Advisor a number of performance-based restricted, forfeitable partnership units of the OP designated as "Class B units" equal to a maximum 0.75% per annum of the cost of the Company's assets. The value of issued Class B units was determined and expensed when the vesting condition was met, which occurred as of the Listing. 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. The Advisor received distributions on unvested Class B units equal to the per share dividends received on the Company's common stock. The vesting condition related to these Class B units was satisfied upon completion of the Listing, resulting in $11.5 million of expense on April 15, 2014, which was included in vesting of asset management fees expense in the consolidated statement of operations and comprehensive income (loss) and in non-controlling interest on the consolidated balance sheets. On April 15, 2014, the Class B units were converted to OP units on a one-to-one basis. As of the Listing, the asset management subordinated participation is no longer applicable. Instead an asset management fee became payable to the Advisor equal to 0.50% per annum of the cost of assets up to $3.0 billion and 0.40% per annum of the cost of assets above $3.0 billion . The asset management fee may 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. During the three and nine months ended September 30, 2015 and the period from the Listing to September 30, 2014 , the asset management fee was paid in cash. Unless the Company contracts with a third party, the Company pays the Property Manager a property management fee equal to: (i) for non-hotel properties, 4.0% of gross revenues from 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 also reimburses 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 pay the Property Manager an oversight fee equal to 1.0% of the gross revenues of the applicable property. The Company reimburses the Advisor's costs and expenses of providing services. Previously, reimbursement of costs and expenses was subject to the limitation that the Company would not reimburse the Advisor for any amount by which the Company's total operating expenses (as defined in the Advisory Agreement) for the four preceding fiscal quarters exceeded 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 (the "2%/25% Limitation"). Additionally, the Company will not reimburse the Advisor for personnel costs in connection with services for which the Advisor receives a separate fee. The 2%/25% Limitation was removed from the Advisory Agreement in connection with the amendment and restatement in June 2015. The Dealer Manager and its affiliates also provide transfer agency services, as well as transaction management and other professional services. These fees are included in general and administrative expenses on the consolidated statements of operations and comprehensive income (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 September 30, Nine Months Ended September 30, Payable as of 2015 2014 2015 2014 September 30, December 31, (In thousands) Incurred Forgiven Incurred Forgiven Incurred Forgiven Incurred Forgiven 2015 2014 Acquisition fees and related cost reimbursements $ — $ — $ 3,350 $ — $ — $ — $ 3,350 $ — $ — $ — Financing coordination fees — — — — — — 2,363 — — — Ongoing fees: Asset management fees (1) 3,121 — 2,980 — 9,366 — 5,254 — 10 15 Transfer agent and other professional fees 448 — 392 — 902 — 2,019 — 347 560 Property management and leasing fees — 727 — 431 — 1,946 — 1,218 — — Distributions on Class B units — — — — — — 107 — — — Total related party operational fees and reimbursements $ 3,569 $ 727 $ 6,722 $ 431 $ 10,268 $ 1,946 $ 13,093 $ 1,218 $ 357 $ 575 ___________________________________________ (1) Prior to the Listing, the Company caused the OP to issue to the Advisor restricted performance based Class B units for asset management services, which vested as of the Listing. In order to improve operating cash flows and the ability to pay dividends from operating cash flows, the Advisor agreed to waive certain fees including property management fees during the three and nine months ended September 30, 2015 and 2014 . Because the Advisor waived certain fees, cash flow from operations that would have been paid to the Advisor was available to pay dividends to stockholders. The fees that were waived were not deferrals and accordingly, will not be paid to the Advisor in any subsequent periods. 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 periods presented. These costs are presented net in the consolidated statements of operations and comprehensive income (loss). Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Property operating expenses absorbed $ — $ 623 $ — $ 623 General and administrative expenses absorbed — 377 — 1,418 Total expenses absorbed $ — $ 1,000 $ — $ 2,041 The Company had no receivables from the Advisor related to absorbed general and administrative expenses as of September 30, 2015 or December 31, 2014 . 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 under common control with 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 paid $3.0 million pursuant to this agreement. The Company incurred $1.5 million of expenses pursuant to this agreement during the nine months ended September 30, 2014 and the year ended December 31, 2013, including amounts for services provided in preparation for the Listing, which are included in acquisition and transaction related costs in the consolidated statement of operations and comprehensive income (loss). The Company did not incur any expenses pursuant to this agreement during the three months ended September 30, 2014 or for the three and nine months ended September 30, 2015 . 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 under common control with 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 paid $1.9 million pursuant to this agreement. For the nine months ended September 30, 2014 , the Company incurred $1.3 million of expenses pursuant to this agreement, which included amounts for services provided in preparation for the Company's tender offer in April 2014 (the "Tender Offer"), and are included in additional paid-in capital on the accompanying consolidated balance sheets. 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 and comprehensive income (loss). The Company did not incur any expenses pursuant to this agreement during the three months ended September 30, 2014 or for the three and nine months ended September 30, 2015 . Thus, the Company does not owe the Dealer Manager any more fees pursuant to this agreement. In December 2013, the Company entered into an agreement with RCS Capital, 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 was entitled to a transaction fee equal to 0.25% of the transaction value in connection with the possible sale transaction, listing or acquisition. In April 2014, in connection with the Listing, the Company incurred and paid $6.9 million in connection with this agreement which were included in acquisition and transaction related costs in the consolidated statement of operations and comprehensive income (loss). Thus, the Company does not owe the Dealer Manager any more fees pursuant to this agreement. During the nine months ended September 30, 2014 , the Company incurred $0.6 million of expenses to affiliated entities of the Advisor pertaining to general legal, marketing and sales services provided in connection with the Listing. These expenses are included in acquisition and transaction related costs in the consolidated statement of operations and comprehensive income (loss). During the nine months ended September 30, 2014 , the Company also incurred approximately $9,000 of expenses to affiliated entities pertaining to general legal services provided in connection with the Tender Offer. The Company did not incur any expenses pursuant to this agreement during the three months ended September 30, 2014 or for the three and nine months ended September 30, 2015 . These expenses are included in additional paid-in capital on the accompanying consolidated balance sheets. As of September 30, 2015 and December 31, 2014 , there were no amounts payable to affiliated entities of the Advisor in accounts payable and accrued expenses on the accompanying consolidated balance sheets relating to the Listing or Tender Offer. 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 and nine months ended September 30, 2015 and 2014 . In connection with the Listing, the OP entered into the Listing Note. See Note 9 - Subordinated Listing Distribution Derivative. In connection with the Listing and the Advisory Agreement, the Company terminated the subordinated termination fee that would be due to the Advisor in the event of termination of the Advisory Agreement. In October 2014, the Company entered into separate transaction management agreements with Barclays Capital Inc. and the Dealer Manager as financial advisors to assist the board of the Company in evaluating strategic options to enhance long-term shareholder value, including a business combination involving the Company or a sale of the Company. In May 2015, the Company’s board of directors suspended the formal strategic alternatives process and the Company terminated its agreements with Barclays Capital Inc. and RCS Capital. The Company is no longer obligated to pay any transaction fees under either agreement.

Economic Dependency

Economic Dependency	9 Months Ended
	Sep. 30, 2015
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 control 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.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2015
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 equal to the fair market value of a share on the date of grant. 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 September 30, 2015 and December 31, 2014 , no stock options were issued under the Plan. Restricted Share Plan The Company's employee and director incentive restricted share plan ("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 the Listing, the RSP provided 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 shares issued to independent directors vest over a five-year period in increments of 20% per annum. Subsequent to the Listing, the Company amended the RSP to, among other things, remove the fixed amount of restricted shares that are automatically granted to the independent directors. Under the amended RSP, the annual amount granted to the independent directors is determined by the board of directors. Generally, such awards provide for accelerated vesting of (i) all unvested restricted shares upon a change in control or a termination without cause and (ii) the portion of the unvested restricted shares scheduled to vest in the year of voluntary termination or the failure to be re-elected to the board. 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 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 dividends prior to the time that the restrictions on the restricted shares have lapsed. Any dividends payable in shares of common stock shall be subject to the same restrictions as the underlying restricted shares. The following table displays restricted share award activity during the nine months ended September 30, 2015 : Number of Restricted Shares Weighted-Average Issue Price Unvested, December 31, 2014 89,499 $ 10.73 Granted 301,907 10.36 Vested (17,558 ) 10.75 Forfeited (56,633 ) 10.36 Unvested, September 30, 2015 317,215 $ 10.44 During the nine months ended September 30, 2015 , the board of directors approved, and the Company awarded, 279,365 restricted shares to employees of the Advisor. The awards vest over a four year period in increments of 25% per annum. The fair value of the awards granted to employees of the Advisor are remeasured quarterly, with the resulting amortization adjustments reflected in general and administrative expense in the consolidated statements of operations and comprehensive income (loss). During the three months ended September 30, 2015 , 56,633 restricted shares were forfeited. For awards granted to directors of the Company, the fair value of the restricted shares on the date of grant, based on the per share closing price on the NYSE, is expensed on a straight-line basis over the service period. Compensation expense related to restricted shares was $0.2 million and $0.4 million , respectively, for the three and nine months ended September 30, 2015 . Compensation expense related to restricted shares was $1.0 million and $1.1 million for the three and nine months ended September 30, 2014 , respectively. As of September 30, 2015 , the Company had approximately $2.1 million of unrecognized compensation cost related to unvested restricted share awards granted under the Company’s RSP, which is expected to vest over a period of 3.4 years. 2014 Advisor Multi-Year Outperformance Agreement On April 15, 2014 (the "Effective Date") in connection with the Listing, the Company entered into the 2014 Advisor Multi-Year Outperformance Agreement (as amended and restated effective August 5, 2015, the "OPP") with the OP and the Advisor. The Company amended and restated the OPP effective August 5, 2015 to amend certain definitions related to performance measurement to equitably adjust for share issuances and share repurchases for the OPP's remaining valuation dates. 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 is 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 dividends, 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 if total shareholder 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 total shareholder return achieved is at least: 18% 6% 12% • 50% will be earned if total shareholder return achieved is: 0% 0% 0% • 0% will be earned if total shareholder return achieved is less than: 0% 0% 0% • 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. On April 15, 2015, 367,059 LTIP units were earned by the Advisor under the terms of the OPP. Subject to the Advisor’s continued service through each vesting date, one third of any earned LTIP units will vest on each of the third, fourth and fifth anniversaries of the Effective Date. Until such time as an LTIP unit is earned in accordance with the provisions of the OPP, the holder of such LTIP unit is entitled to distributions on such LTIP unit equal to 10% of the distributions made per OP unit. The Company paid $0.1 million and $0.5 million , respectively, in distributions related to LTIP units during the three and nine months ended September 30, 2015 , respectively, which is included in non-controlling interest in the consolidated balance sheets. The Company paid $0.2 million in distributions related to LTIP units for the three and nine months ended September 30, 2014 . After an LTIP unit is earned, the holder of such LTIP unit is entitled to a catch-up distribution and then the same distribution as the holder of an OP unit. At the time the Advisor’s average capital account balance with respect to an LTIP unit is economically equivalent to the average capital account balance of an OP unit, the LTIP unit has been earned and it has been vested for 30 days, the Advisor, in its sole discretion, will be entitled to convert such LTIP unit into an OP unit in accordance with the provisions of the limited partnership agreement of the OP. The Company records equity based compensation expense associated with the awards over the requisite service period of five years. Equity-based compensation expense is adjusted each reporting period for changes in the estimated market-related performance. Compensation expense related to the OPP was $3.9 million and $6.1 million , respectively, for the three and nine months ended September 30, 2015 . Compensation expense related to the OPP was $1.5 million and $3.3 million , respectively, for the three and nine months ended September 30, 2014 . The valuation of the OPP is determined using a Monte Carlo simulation. This analysis reflects the contractual terms of the OPP, including the performance periods and total return hurdles, as well as observable market-based inputs, including interest rate curves, and unobservable inputs, such as expected volatility. As a result, the Company has determined that its OPP valuation in its entirety is classified in Level 3 of the fair value hierarchy. For a description of the levels within the fair value hierarchy, see Note 10 — Fair Value of Financial Instruments. The following table presents information about the Company's OPP, which is measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 , aggregated by the level in the fair value hierarchy within which the instrument falls: (In thousands) Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Total September 30, 2015 OPP $ — $ — $ 29,900 $ 29,900 December 31, 2014 OPP $ — $ — $ 29,100 $ 29,100 Level 3 Valuations The following is a reconciliation of the beginning and ending balance for the changes in instruments with Level 3 inputs in the fair value hierarchy for the nine months ended September 30, 2015 : (In thousands) OPP Beginning balance as of December 31, 2014 $ 29,100 Fair value adjustment 800 Ending balance as of September 30, 2015 $ 29,900 The following table provides quantitative information about significant Level 3 input used: Financial Instrument Fair Value Principal Valuation Technique Unobservable Inputs Input Value (In thousands) September 30, 2015 OPP $ 29,900 Monte Carlo Simulation Expected volatility 26.0% December 31, 2014 OPP $ 29,100 Monte Carlo Simulation Expected volatility 27.0% Expected volatility is a measure of the variability in possible returns for an instrument, parameter or market index given how much the particular instrument, parameter or index changes in value over time. Generally, the higher the expected volatility of the underlying instrument, the wider the range of potential future returns. An increase in expected volatility, in isolation, would generally result in an increase in the fair value measurement of an instrument. For the relationship described above, the inverse relationship would also generally apply.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Common Stock As of September 30, 2015 and December 31, 2014 , the Company had 162.5 million and 162.2 million shares of common stock outstanding, respectively, including shares of unvested restricted common stock ("restricted shares"), converted preferred shares and shares issued under the distribution reinvestment plan (the "DRIP"), but not including OP units or Long-term Incentive Plan units ("LTIP units") which may in the future be convertible into shares of common stock. From December 2010 to April 2014, the Company declared and paid dividends at a dividend rate equal to $0.605 per annum per share of common stock. The dividends were 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. In April 2014, the Company's board of directors authorized, and the Company declared, a monthly dividend at an annualized rate equal to $0.46 per share per annum. Beginning in April 2014, dividends are paid to stockholders of record on the close of business on the 8th day of each month, payable on the 15th day of such month. The Company's board of directors may reduce the amount of dividends paid or suspend dividend payments at any time and therefore dividend payments are not assured. Accumulated Other Comprehensive Income (Loss) The following table illustrates the changes in accumulated other comprehensive income (loss) as of and for the periods indicated: Unrealized gains Change in Total on available-for-sale unrealized gain accumulated other (in thousands) securities (loss) on derivatives comprehensive loss Balance, December 31, 2014 $ 244 $ (1,060 ) $ (816 ) Other comprehensive loss, before reclassifications (137 ) (3,005 ) (3,142 ) Amounts reclassified from accumulated other comprehensive income (loss) (102 ) 1,759 1,657 Net current-period other comprehensive loss (239 ) (1,246 ) (1,485 ) Balance, September 30, 2015 $ 5 $ (2,306 ) $ (2,301 ) For a reconciliation of the income statement line item affected due to amounts reclassified out of accumulated other comprehensive loss for the three and nine months ended September 30, 2015 , see Note 11 — Interest Rate Derivatives and Hedging Activities.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share The following is a summary of the basic and diluted net income (loss) per share computations for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except share and per share data) 2015 2014 2015 2014 Basic net income (loss) attributable to stockholders $ (12,752 ) $ 9,695 $ (29,610 ) $ (65,698 ) Adjustments to net income (loss) attributable to stockholders for common share equivalents — (1,305 ) — — Net income (loss) attributable to stockholders $ (12,752 ) $ 8,390 $ (29,610 ) $ (65,698 ) Weighted average shares outstanding, basic 162,202,733 161,975,420 162,150,947 168,624,050 Net income (loss) per share attributable to stockholders, basic $ (0.08 ) $ 0.06 $ (0.18 ) $ (0.39 ) Weighted average shares outstanding, diluted 162,202,733 162,181,209 162,150,947 168,624,050 Net income (loss) per share attributable to stockholders, diluted $ (0.08 ) $ 0.05 $ (0.18 ) $ (0.39 ) Diluted net 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 shares, OP units and LTIP units to be common share equivalents. The Company had the following common share equivalents for the periods presented, which were excluded from the calculation of diluted loss per share attributable to stockholders as the effect would have been antidilutive: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Unvested restricted shares 317,215 — 317,215 174,172 OP units 4,178,090 1,272,200 4,178,090 1,272,200 LTIP units 8,880,579 8,880,579 8,880,579 8,880,579 Total anti-dilutive common share equivalents 13,375,884 10,152,779 13,375,884 10,326,951

Non-Controlling Interests

Non-Controlling Interests	9 Months Ended
	Sep. 30, 2015
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. As of September 30, 2015 and December 31, 2014 , the Advisor held 4,178,090 and 4,270,841 OP units, respectively. As of September 30, 2015 and December 31, 2014 , the Advisor held 8,880,579 unvested LTIP units. There were $0.6 million and $2.0 million , respectively, of distributions paid to OP unit and LTIP unit holders during the three and nine months ended September 30, 2015 . There were $0.3 million and $0.4 million , respectively, of distributions paid to OP unit and LTIP unit holders during the three and nine months ended September 30, 2014 . A holder of OP units has the right to distributions and has the right to convert OP units for the cash value of a corresponding number of shares of the Company's common stock or a corresponding number of shares of the Company's common stock, at the Company's election, 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. On May 13, 2015, 92,751 OP units were redeemed for newly issued shares of the Company's common stock and reclassified from non-controlling interest to stockholders' equity. The Company is the controlling member of the limited liability company that owns 163 Washington Avenue, 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 dividends paid to each non-controlling member. No dividends were paid during the three and nine months ended September 30, 2015 or 2014 . On October 21, 2015, the Company closed on the sale of 163 Washington Avenue and repaid the investment of each non-controlling member. See Note 20 — Subsequent Events.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated subsequent events through the filing of this Quarterly Report on 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 events: On October 1, 2015, the Company announced that it intends to enter into joint venture agreements with American Realty Capital New York City REIT, Inc. (“ARC NYCR”), an entity also sponsored by the Sponsor, which is intended to better align interests between the Company and ARC NYCR and to facilitate the continued growth and diversification of both portfolios with reduced need to raise additional equity capital. Any joint venture agreement will require approval by the boards of the Company and ARC NYCR. On October 21, 2015, the Company closed on the sale of its property located at 163 Washington Avenue in Brooklyn, NY for a contract purchase price of $37.7 million . On November 9, 2015, ARC advised the Company that ARC and Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) have mutually agreed to terminate an agreement, dated as of August 6, 2015, pursuant to which Apollo would have purchased a controlling interest in a newly formed company that would have owned a majority of the ongoing asset management business of ARC, including the Advisor and the Property Manager. The termination has no effect on the Company's previously announced strategic initiatives or the current management team.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Reclassifications	Reclassifications Certain prior quarter amounts have been reclassified to conform to the current quarter presentation, which did not have a material impact on the Company's financial statements.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued revised guidance relating to revenue recognition. Under the revised guidance, an entity is required to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revised guidance was to become effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption was not permitted under GAAP. The revised guidance allows entities to apply the full retrospective or modified retrospective transition method upon adoption. In July 2015, the FASB deferred the effective date of the revised guidance by one year to annual reporting periods beginning after December 15, 2017, although entities will be allowed to early adopt the guidance as of the original effective date. The Company has not yet selected a transition method and is currently evaluating the impact of the new guidance. In January 2015, the FASB issued updated guidance that eliminates extraordinary item classification from GAAP, which was the concept of an event or transaction that is unusual in nature and occurs infrequently being treated as an extraordinary item. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Any amendments may be applied either prospectively or retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company has opted to adopt this revised guidance early and has determined that there has been no impact to its financial position, results of operations and cash flows. In February 2015, the FASB amended the accounting for consolidation of certain legal entities. The amendments modify the evaluation of whether certain legal entities are variable interest entities ("VIEs") or voting interest entities, eliminate the presumption that a general partner should consolidate a limited partnership and affect the consolidation analysis of reporting entities that are involved with VIEs (particularly those that have fee arrangements and related party relationships). The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The Company has not yet selected a transition method and is currently evaluating the impact of the new guidance. In April 2015, the FASB amended the presentation of debt issuance costs on the balance sheet. The amendment requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability. In August 2015, the FASB added that, for line of credit arrangements, the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line, regardless of whether or not there are any outstanding borrowings. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted for financial statements that have not previously been issued. The revised guidance is not expected to have a significant impact on the Company's financial position, results of operations or cash flows. In September 2015, the FASB issued an update that eliminates the requirement to adjust provisional amounts from a business combination and the related impact on earnings by restating prior period financial statements for measurement period adjustments. The new guidance requires that the cumulative impact of measurement period adjustments on current and prior periods, including the prior period impact on depreciation, amortization and other income statement items and their related tax effects, shall be recognized in the period the adjustment amount is determined. The cumulative adjustment would be reflected within the respective financial statement line items affected. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company has elected to adopt the new guidance as of September 30, 2015. The adoption of this guidance had no impact on the Company's consolidated financial position, results of operations or cash flows.
Real Estate Held for Sale	Real Estate Held For Sale When assets are identified by management as held for sale, the Company stops recognizing depreciation and amortization expense on the identified assets and estimates the sales price, net of costs to sell, of those assets. If the carrying amount of the assets classified as held for sale exceeds the estimated net sales price, the Company records an impairment charge equal to the amount by which the carrying amount of the assets exceeds the Company's estimate of the net sales price of the assets.

Real Estate Investments (Tables

Real Estate Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table presents the allocation of the assets acquired and liabilities assumed during the nine months ended September 30, 2014 . There were no real estate assets acquired or liabilities assumed during the nine months ended September 30, 2015 . Nine Months Ended (In thousands) September 30, 2014 Real estate investments, at cost: Land $ 68,251 Buildings, fixtures and improvements 233,607 Total tangible assets 301,858 Acquired intangibles: In-place leases 25,169 Other intangible 3,804 Above-market lease assets 3,707 Below-market lease liabilities (23,705 ) Total acquired intangibles 8,975 Total assets acquired, net 310,833 Additional investment in unconsolidated joint venture 273 Preferred equity investment 5,100 Cash paid for acquired real estate investments and other assets $ 316,206 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 September 30, 2015 . 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 Cash Rental Payments October 1, 2015 - December 31, 2015 $ 26,745 2016 99,361 2017 99,291 2018 97,216 2019 95,837 Thereafter 652,674 $ 1,071,124
Schedule of Annualized Rental Income by Major Tenants	The following table lists the tenants whose annualized cash rent represented greater than 10% of total annualized cash rent as of September 30, 2015 and 2014 , including annualized cash rent related to the Company's unconsolidated joint venture: September 30, Property Portfolio Tenant 2015 2014 Worldwide Plaza Cravath, Swaine & Moore, LLP 16% 16% Worldwide Plaza Nomura Holdings America, Inc. 10% 11%
Disposal Groups, Including Discontinued Operations	The following table details the major classes of assets associated with 163 Washington Avenue that have been reclassified as held for sale as of September 30, 2015 : (In thousands) September 30, 2015 Real estate held for sale, at cost: Land $ 6,257 Buildings, fixtures and improvements 25,122 Acquired intangible lease assets 49 Total real estate held for sale, at cost 31,428 Less accumulated depreciation and amortization (3,946 ) Real estate assets held for sale, net $ 27,482

Investment in Unconsolidated 29

Investment in Unconsolidated Joint Venture (Tables) - Worldwide Plaza	9 Months Ended
	Sep. 30, 2015
Schedule of Equity Method Investments [Line Items]
Condensed Balance Sheet	The condensed balance sheets as of September 30, 2015 and December 31, 2014 for Worldwide Plaza are as follows: (In thousands) September 30, December 31, (Unaudited) Real estate assets, at cost $ 714,875 $ 704,143 Less accumulated depreciation and amortization (112,046 ) (97,181 ) Total real estate assets, net 602,829 606,962 Cash and cash equivalents 11,951 3,784 Other assets 258,529 252,000 Total assets $ 873,309 $ 862,746 Debt $ 875,000 $ 875,000 Other liabilities 17,240 12,442 Total liabilities 892,240 887,442 Deficit (18,931 ) (24,696 ) Total liabilities and deficit $ 873,309 $ 862,746 Company's basis $ 223,229 $ 225,501
Condensed Income Statement	The following table presents the components of the income (loss) related to the Company's investment in Worldwide Plaza for the periods presented, which is included in income (loss) from unconsolidated joint venture on the consolidated statements of operations and comprehensive income (loss). Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Company's preferred return $ 3,936 $ 3,936 $ 11,681 $ 11,681 Company's share of net loss from Worldwide Plaza (381 ) (780 ) (1,157 ) (3,079 ) Amortization of basis difference (3,082 ) (3,241 ) (9,246 ) (9,723 ) Company's income (loss) from Worldwide Plaza $ 473 $ (85 ) $ 1,278 $ (1,121 ) The condensed statements of operations for the three and nine months ended September 30, 2015 and 2014 for Worldwide Plaza are as follows: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Rental income $ 30,771 $ 28,867 $ 92,036 $ 84,261 Other revenue 1,245 1,242 3,694 3,686 Total revenue 32,016 30,109 95,730 87,947 Operating expenses: Operating expenses 11,812 11,407 35,780 33,699 Depreciation and amortization 6,945 6,261 20,659 18,889 Total operating expenses 18,757 17,668 56,439 52,588 Operating income 13,259 12,441 39,291 35,359 Interest expense (10,102 ) (10,102 ) (29,976 ) (29,976 ) Net income 3,157 2,339 9,315 5,383 Preferred return (3,936 ) (3,936 ) (11,681 ) (11,681 ) Net loss to members $ (779 ) $ (1,597 ) $ (2,366 ) $ (6,298 )

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation	The following table details the unrealized gains and losses on investment securities as of September 30, 2015 and December 31, 2014 : (In thousands) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2015 Redeemable preferred stock $ 238 $ 5 $ — $ 243 December 31, 2014 Redeemable preferred stock $ 1,288 $ 21 $ (12 ) $ 1,297 Equity securities 3,127 235 — 3,362 Total $ 4,415 $ 256 $ (12 ) $ 4,659

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Mortgage Notes Payable	The Company's mortgage notes payable as of September 30, 2015 and December 31, 2014 consist of the following: Outstanding Loan Amount Portfolio Encumbered Properties September 30, December 31, Effective Interest Rate Interest Rate Maturity (In thousands) (In thousands) Design Center 1 $ 19,899 $ 20,198 4.4 % Fixed Dec. 2021 Foot Locker 1 3,250 3,250 4.6 % Fixed Jun. 2016 Duane Reade 1 8,400 8,400 3.6 % Fixed Nov. 2016 1100 Kings Highway 1 20,200 20,200 3.4 % Fixed (1) Aug. 2017 1623 Kings Highway 1 7,288 7,288 3.3 % Fixed (1) Nov. 2017 256 West 38th Street 1 24,500 24,500 3.1 % Fixed (1) Dec. 2017 1440 Broadway (2) 1 305,000 — 3.8 % Variable (3) Oct. 2019 Bleecker Street — 21,300 Regal Parking Garage — 3,000 Washington Street Portfolio — 4,741 One Jackson Square — 13,000 350 West 42nd Street — 11,365 229 West 36th Street — 35,000 7 $ 388,537 $ 172,242 3.8 % (4) ______________________ (1) Fixed through an interest rate swap agreement. (2) Total commitments of $325.0 million ; additional $20.0 million available, subject to lender approval, to fund certain tenant allowances, capital expenditures and leasing costs. (3) LIBOR portion is capped through an interest rate cap agreement. (4) Calculated on a weighted average basis for all mortgages outstanding as of September 30, 2015 .
Schedule Of Aggregate Principal Payments On Mortgages	The following table summarizes the scheduled aggregate principal repayments subsequent to September 30, 2015 : (In thousands) Future Minimum Principal Payments October 1, 2015 - December 31, 2015 $ 101 2016 12,068 2017 55,533 2018 3,703 2019 308,869 Thereafter 8,263 Total $ 388,537

Fair Value of Financial Instr32

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
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 September 30, 2015 and December 31, 2014 , aggregated by the level in the fair value hierarchy within which those instruments fall: (In thousands) Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Total September 30, 2015 Derivatives, net $ — $ (1,949 ) $ — $ (1,949 ) Investment securities $ 243 $ — $ — $ 243 December 31, 2014 Derivatives, net $ — $ (1,071 ) $ — $ (1,071 ) Investment securities $ 4,659 $ — $ — $ 4,659 The following table presents information about the Company's OPP, which is measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 , aggregated by the level in the fair value hierarchy within which the instrument falls: (In thousands) Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Total September 30, 2015 OPP $ — $ — $ 29,900 $ 29,900 December 31, 2014 OPP $ — $ — $ 29,100 $ 29,100
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. September 30, 2015 December 31, 2014 (In thousands) Level Carrying Amount Fair Value Carrying Amount Fair Value Mortgage notes payable 3 $ 388,537 $ 390,897 $ 172,242 $ 174,468 Credit Facility 3 $ 485,000 $ 487,934 $ 635,000 $ 651,579 Preferred equity investment 3 $ — $ — $ 35,100 $ 34,800

Interest Rate Derivatives and33

Interest Rate Derivatives and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	As of September 30, 2015 and December 31, 2014 , the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk. September 30, 2015 December 31, 2014 Interest Rate Derivative Number of Instruments Notional Amount Number of Instruments Notional Amount (In thousands) (In thousands) Interest rate swaps 4 $ 131,988 6 $ 179,988 As of September 30, 2015 , the Company had the following outstanding interest rate derivatives that were not designated as hedges in qualified hedging relationships. September 30, 2015 December 31, 2014 Interest Rate Derivative Number of Instruments Notional Amount Number of Instruments Notional Amount (In thousands) (In thousands) Interest rate caps 1 $ 265,000 — $ —
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 September 30, 2015 and December 31, 2014 : (In thousands) Balance Sheet Location September 30, 2015 December 31, 2014 Derivatives designated as hedging instruments: Interest rate swaps Derivative assets, at fair value $ — $ 205 Interest rate swaps Derivative liabilities, at fair value $ (2,320 ) $ (1,276 ) Derivatives not designated as hedging instruments: Interest rate caps Derivative assets, at fair value $ 371 $ —
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The table below details the location in the financial statements of the income or loss recognized on interest rate derivatives designated as cash flow hedges for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Amount of loss recognized in accumulated other comprehensive income (loss) from interest rate derivatives (effective portion) $ (1,286 ) $ 619 $ (3,005 ) $ (1,613 ) Amount of loss reclassified from accumulated other comprehensive income (loss) into income as interest expense (effective portion) $ (706 ) $ (545 ) $ (1,759 ) $ (1,616 ) Amount of loss recognized in loss on derivative instruments (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing) $ — $ — $ (4 ) $ 1
Offsetting Liabilities	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of September 30, 2015 and December 31, 2014 . 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 consolidated 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 September 30, 2015 $ 371 $ (2,320 ) $ (1,949 ) $ — $ — $ (1,949 ) December 31, 2014 $ 205 $ (1,276 ) $ (1,071 ) $ — $ — $ (1,071 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The following table reflects the minimum base cash payments due from the Company over the next five years and thereafter under these arrangements, including the present value of the net minimum payments due under capital leases. 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. Future Minimum Base Rent Payments (In thousands) Operating Leases Capital Leases October 1, 2015 - December 31, 2015 $ 1,242 $ 22 2016 4,958 86 2017 4,905 86 2018 5,089 86 2019 5,346 86 Thereafter 251,627 3,490 Total minimum lease payments $ 273,167 $ 3,856 Less: amounts representing interest (1,737 ) Total present value of minimum lease payments $ 2,119
Schedule of Capital Leased Assets	The following table discloses assets recorded under capital leases and the accumulated amortization thereon as of September 30, 2015 and December 31, 2014 . (In thousands) September 30, 2015 December 31, 2014 Buildings, fixtures and improvements $ 11,783 $ 11,783 Less accumulated depreciation and amortization (1,563 ) (1,137 ) Total real estate investments, net $ 10,220 $ 10,646

Related Party Transactions an35

Related Party Transactions and Arrangements (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table details revenues and accounts receivable from related parties at the Viceroy Hotel. Three Months Ended September 30, Nine Months Ended September 30, Receivable as of (In thousands) 2015 2014 2015 2014 September 30, 2015 December 31, 2014 Hotel revenues $ 25 $ 164 $ 110 $ 318 $ — $ 23 The following table details property operating and general and administrative expenses absorbed by the Advisor during the periods presented. These costs are presented net in the consolidated statements of operations and comprehensive income (loss). Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Property operating expenses absorbed $ — $ 623 $ — $ 623 General and administrative expenses absorbed — 377 — 1,418 Total expenses absorbed $ — $ 1,000 $ — $ 2,041
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 September 30, Nine Months Ended September 30, Payable as of 2015 2014 2015 2014 September 30, December 31, (In thousands) Incurred Forgiven Incurred Forgiven Incurred Forgiven Incurred Forgiven 2015 2014 Acquisition fees and related cost reimbursements $ — $ — $ 3,350 $ — $ — $ — $ 3,350 $ — $ — $ — Financing coordination fees — — — — — — 2,363 — — — Ongoing fees: Asset management fees (1) 3,121 — 2,980 — 9,366 — 5,254 — 10 15 Transfer agent and other professional fees 448 — 392 — 902 — 2,019 — 347 560 Property management and leasing fees — 727 — 431 — 1,946 — 1,218 — — Distributions on Class B units — — — — — — 107 — — — Total related party operational fees and reimbursements $ 3,569 $ 727 $ 6,722 $ 431 $ 10,268 $ 1,946 $ 13,093 $ 1,218 $ 357 $ 575 ___________________________________________ (1) Prior to the Listing, the Company caused the OP to issue to the Advisor restricted performance based Class B units for asset management services, which vested as of the Listing.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table displays restricted share award activity during the nine months ended September 30, 2015 : Number of Restricted Shares Weighted-Average Issue Price Unvested, December 31, 2014 89,499 $ 10.73 Granted 301,907 10.36 Vested (17,558 ) 10.75 Forfeited (56,633 ) 10.36 Unvested, September 30, 2015 317,215 $ 10.44
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Performance Schedule	The Advisor is 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 dividends, 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 if total shareholder 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 total shareholder return achieved is at least: 18% 6% 12% • 50% will be earned if total shareholder return achieved is: 0% 0% 0% • 0% will be earned if total shareholder return achieved is less than: 0% 0% 0% • 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.
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 September 30, 2015 and December 31, 2014 , aggregated by the level in the fair value hierarchy within which those instruments fall: (In thousands) Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Total September 30, 2015 Derivatives, net $ — $ (1,949 ) $ — $ (1,949 ) Investment securities $ 243 $ — $ — $ 243 December 31, 2014 Derivatives, net $ — $ (1,071 ) $ — $ (1,071 ) Investment securities $ 4,659 $ — $ — $ 4,659 The following table presents information about the Company's OPP, which is measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 , aggregated by the level in the fair value hierarchy within which the instrument falls: (In thousands) Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Total September 30, 2015 OPP $ — $ — $ 29,900 $ 29,900 December 31, 2014 OPP $ — $ — $ 29,100 $ 29,100
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following is a reconciliation of the beginning and ending balance for the changes in instruments with Level 3 inputs in the fair value hierarchy for the nine months ended September 30, 2015 : (In thousands) OPP Beginning balance as of December 31, 2014 $ 29,100 Fair value adjustment 800 Ending balance as of September 30, 2015 $ 29,900
Valuation techniques	The following table provides quantitative information about significant Level 3 input used: Financial Instrument Fair Value Principal Valuation Technique Unobservable Inputs Input Value (In thousands) September 30, 2015 OPP $ 29,900 Monte Carlo Simulation Expected volatility 26.0% December 31, 2014 OPP $ 29,100 Monte Carlo Simulation Expected volatility 27.0%

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table illustrates the changes in accumulated other comprehensive income (loss) as of and for the periods indicated: Unrealized gains Change in Total on available-for-sale unrealized gain accumulated other (in thousands) securities (loss) on derivatives comprehensive loss Balance, December 31, 2014 $ 244 $ (1,060 ) $ (816 ) Other comprehensive loss, before reclassifications (137 ) (3,005 ) (3,142 ) Amounts reclassified from accumulated other comprehensive income (loss) (102 ) 1,759 1,657 Net current-period other comprehensive loss (239 ) (1,246 ) (1,485 ) Balance, September 30, 2015 $ 5 $ (2,306 ) $ (2,301 )

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a summary of the basic and diluted net income (loss) per share computations for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except share and per share data) 2015 2014 2015 2014 Basic net income (loss) attributable to stockholders $ (12,752 ) $ 9,695 $ (29,610 ) $ (65,698 ) Adjustments to net income (loss) attributable to stockholders for common share equivalents — (1,305 ) — — Net income (loss) attributable to stockholders $ (12,752 ) $ 8,390 $ (29,610 ) $ (65,698 ) Weighted average shares outstanding, basic 162,202,733 161,975,420 162,150,947 168,624,050 Net income (loss) per share attributable to stockholders, basic $ (0.08 ) $ 0.06 $ (0.18 ) $ (0.39 ) Weighted average shares outstanding, diluted 162,202,733 162,181,209 162,150,947 168,624,050 Net income (loss) per share attributable to stockholders, diluted $ (0.08 ) $ 0.05 $ (0.18 ) $ (0.39 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The Company had the following common share equivalents for the periods presented, which were excluded from the calculation of diluted loss per share attributable to stockholders as the effect would have been antidilutive: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Unvested restricted shares 317,215 — 317,215 174,172 OP units 4,178,090 1,272,200 4,178,090 1,272,200 LTIP units 8,880,579 8,880,579 8,880,579 8,880,579 Total anti-dilutive common share equivalents 13,375,884 10,152,779 13,375,884 10,326,951

Organization (Details)

Organization (Details)	Sep. 30, 2015property
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of properties owned	23

Real Estate Investments (Schedu

Real Estate Investments (Schedule of Real Estate Properties) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)property
Business Acquisition [Line Items]
Land		$ 68,251
Buildings, fixtures and improvements		233,607
Total tangible assets		301,858
Below-market lease liabilities		(23,705)
Total acquired intangibles		8,975
Total assets acquired, net		310,833
Additional investment in unconsolidated joint venture		273
Preferred equity investment		5,100
Cash paid for acquired real estate investments and other assets	$ 0	$ 316,206
Number of properties and other investments purchased | property		1
Leases, Acquired-in-Place
Business Acquisition [Line Items]
In-place leases		$ 25,169
Other Intangible Assets
Business Acquisition [Line Items]
In-place leases		3,804
Above Market Leases
Business Acquisition [Line Items]
In-place leases		$ 3,707

Real Estate Investments (Narrat

Real Estate Investments (Narrative) (Details) $ in Millions	Sep. 30, 2015USD ($)
Held-for-sale Property | 163 Washington Avenue
Real Estate Properties [Line Items]
Contract purchase price	$ 37.7

Real Estate Investments (Sche42

Real Estate Investments (Schedule of Future Minimum Rental Payments for Operating Lease) (Details) $ in Thousands	Sep. 30, 2015USD ($)
Real Estate [Abstract]
October 1, 2015 - December 31, 2015	$ 26,745
2,016	99,361
2,017	99,291
2,018	97,216
2,019	95,837
Thereafter	652,674
Total	$ 1,071,124

Real Estate Investments (Sche43

Real Estate Investments (Schedule of Annualized Rental Income by Major Tenant) (Details) - Worldwide Plaza	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cravath, Swaine & Moore, LLP
Revenue, Major Customer [Line Items]
Major tenant rental income, as a percentage of total annualized rental income	16.00%	16.00%
Nomura Holdings America, Inc.
Revenue, Major Customer [Line Items]
Major tenant rental income, as a percentage of total annualized rental income	10.00%	11.00%

Real Estate Investments (Proper

Real Estate Investments (Properties Classified as Held-for-sale) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, net	$ 27,482	$ 0
163 Washington Avenue | Held-for-sale Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Land	6,257
Buildings, fixtures and improvements	25,122
Acquired intangible lease assets	49
Total real estate held for sale, at cost	31,428
Less accumulated depreciation and amortization	(3,946)
Real estate assets held for sale, net	$ 27,482

Investment in Unconsolidated 45

Investment in Unconsolidated Joint Venture (Details) - USD ($)	Oct. 30, 2013	Sep. 30, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint venture		$ 223,229,000	$ 225,501,000
Worldwide Plaza
Schedule of Equity Method Investments [Line Items]
Ownership percentage	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%
Purchase obligation	$ 1,400,000,000
Purchase option term	38 months
Fee for non-exercise of purchase option		25,000,000
Difference between carrying amount and underlying equity	$ 260,600,000
Investments in unconsolidated joint venture		223,229,000	$ 225,501,000
Parent Company | Worldwide Plaza
Schedule of Equity Method Investments [Line Items]
Notes payable		$ 427,900,000

Investment in Unconsolidated 46

Investment in Unconsolidated Joint Venture (Condensed Balance Sheet) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013	Oct. 30, 2013
Schedule of Equity Method Investments [Line Items]
Real estate assets, at cost	$ 1,875,621	$ 1,888,366
Less accumulated depreciation and amortization	(183,775)	(124,178)
Total real estate investments, net	1,691,846	1,764,188
Cash and cash equivalents	20,423	22,512	$ 26,111	$ 233,377
Total assets	2,096,019	2,120,835
Total liabilities	983,875	925,158
Deficit	(341,110)	(255,478)
Total liabilities and equity	2,096,019	2,120,835
Company's basis	223,229	225,501
Worldwide Plaza
Schedule of Equity Method Investments [Line Items]
Real estate assets, at cost	714,875	704,143
Less accumulated depreciation and amortization	(112,046)	(97,181)
Total real estate investments, net	602,829	606,962
Cash and cash equivalents	11,951	3,784
Other assets	258,529	252,000
Total assets	873,309	862,746
Debt	875,000	875,000			$ 875,000
Other liabilities	17,240	12,442
Total liabilities	892,240	887,442
Deficit	(18,931)	(24,696)
Total liabilities and equity	873,309	862,746
Company's basis	$ 223,229	$ 225,501

Investment in Unconsolidated 47

Investment in Unconsolidated Joint Venture (Condensed Income Statement) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Equity Method Investments [Line Items]
Rental income	$ 32,510	$ 30,246	$ 97,171	$ 83,521
Other revenue	5,044	4,217	13,390	11,036
Total revenues	44,608	40,514	129,187	110,055
Property operating	11,197	9,297	32,264	26,459
Depreciation and amortization	20,484	21,657	63,370	62,892
Total operating expenses	50,696	23,269	142,433	160,227
Operating income	(6,088)	17,245	(13,246)	(50,172)
Interest expense	(7,172)	(8,407)	(19,129)	(17,159)
Net income (loss)	(13,186)	9,522	(30,562)	(66,381)
Net income (loss) attributable to stockholders	(12,752)	9,695	(29,610)	(65,698)
Company's share of net loss from Worldwide Plaza			1,278	(1,121)
Income (loss) from unconsolidated joint venture	473	(85)	1,278	(1,121)
Worldwide Plaza
Schedule of Equity Method Investments [Line Items]
Rental income	30,771	28,867	92,036	84,261
Other revenue	1,245	1,242	3,694	3,686
Total revenues	32,016	30,109	95,730	87,947
Property operating	11,812	11,407	35,780	33,699
Depreciation and amortization	6,945	6,261	20,659	18,889
Total operating expenses	18,757	17,668	56,439	52,588
Operating income	13,259	12,441	39,291	35,359
Interest expense	(10,102)	(10,102)	(29,976)	(29,976)
Net income (loss)	3,157	2,339	9,315	5,383
Preferred return	(3,936)	(3,936)	(11,681)	(11,681)
Net income (loss) attributable to stockholders	(779)	(1,597)	(2,366)	(6,298)
Company's preferred return	3,936	3,936	11,681	11,681
Company's share of net loss from Worldwide Plaza	(381)	(780)	(1,157)	(3,079)
Amortization of basis difference	$ (3,082)	$ (3,241)	$ (9,246)	$ (9,723)

Preferred Equity Investment (De

Preferred Equity Investment (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Equity [Abstract]
Current pay rate	6.00%
Current accrual rate	2.00%
Interest Income from preferred equity investment	$ 1,100
Proceeds from sale of preferred equity investment	$ 35,100	$ 0

Investment Securities (Details)

Investment Securities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Cost		$ 4,415
Gross Unrealized Gains		256
Gross Unrealized Losses		(12)
Fair Value	$ 243	4,659
Preferred Shares
Schedule of Available-for-sale Securities [Line Items]
Period from issuance when investments become redeemable	5 years
Redeemable Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Cost	$ 238	1,288
Gross Unrealized Gains	5	21
Gross Unrealized Losses	0	(12)
Fair Value	$ 243	1,297
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Cost		3,127
Gross Unrealized Gains		235
Gross Unrealized Losses		0
Fair Value		$ 3,362

Credit Facility (Details)

Credit Facility (Details)	Aug. 27, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Aug. 26, 2015	Dec. 31, 2014USD ($)	Apr. 14, 2014USD ($)
Line of Credit Facility [Line Items]
Maximum capacity on credit facility						$ 705,000,000
Additional borrowing capacity under certain circumstances						1,000,000,000
Debt Instrument, Covenant Compliance, Debt Service Coverage Ratio	1.3			1.40
Repayments in advances on revolving portion of credit facility		$ 150,000,000
Credit facility		485,000,000	$ 485,000,000		$ 635,000,000
Term Loan
Line of Credit Facility [Line Items]
Maximum capacity on credit facility						305,000,000
Credit facility		305,000,000	305,000,000		305,000,000
Revolving Loan
Line of Credit Facility [Line Items]
Maximum capacity on credit facility						$ 400,000,000
Credit facility		$ 180,000,000	$ 180,000,000		$ 330,000,000
Credit Facility
Line of Credit Facility [Line Items]
Effective interest rate		2.21%	2.21%		2.08%
Remaining borrowing capacity		$ 65,300,000	$ 65,300,000
Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Unused capacity commitment fee percentage threshold		50.00%	50.00%
Credit Facility | Line of Credit Facility, Interest Rate, Option One | Minimum | LIBOR
Line of Credit Facility [Line Items]
Spread on variable rate basis			1.50%
Credit Facility | Line of Credit Facility, Interest Rate, Option One | Maximum | LIBOR
Line of Credit Facility [Line Items]
Spread on variable rate basis			2.25%
Credit Facility | Line of Credit Facility, Interest Rate, Option Two | Minimum | Base Rate
Line of Credit Facility [Line Items]
Spread on variable rate basis			0.50%
Credit Facility | Line of Credit Facility, Interest Rate, Option Two | Maximum | Base Rate
Line of Credit Facility [Line Items]
Spread on variable rate basis			1.25%
Credit Facility | Line of Credit Facility, Base Rate, Option Two | Federal Funds Effective Rate
Line of Credit Facility [Line Items]
Spread on variable rate basis			0.50%
Credit Facility | Line of Credit Facility, Base Rate, Option Three | One-Month LIBOR
Line of Credit Facility [Line Items]
Spread on variable rate basis			1.00%
Credit Facility | Below Threshold | LIBOR
Line of Credit Facility [Line Items]
Unused capacity fee percentage			0.15%
Credit Facility | Above Threshold | LIBOR
Line of Credit Facility [Line Items]
Unused capacity fee percentage			0.25%
Credit Facility Amendment
Line of Credit Facility [Line Items]
Debt issuance costs	$ 6,300,000
Credit Facility Amendment | Acquisition and Related Expenses
Line of Credit Facility [Line Items]
Debt issuance costs	2,400,000
Credit Facility Amendment | Deferred Costs
Line of Credit Facility [Line Items]
Capitalized financing costs	$ 3,900,000

Mortgage Notes Payable (Narrati

Mortgage Notes Payable (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)mortgage
Debt Instrument [Line Items]
Maximum guarantee cap	$ 5.3
Real estate investments at cost related to mortgages	$ 710
1440 Broadway | Mortgages
Debt Instrument [Line Items]
Number of mortgages repaid | mortgage	6
Expenses related to satisfaction of mortgages	$ 1.8
Acquisition and Related Expenses | 1440 Broadway | Mortgages
Debt Instrument [Line Items]
Expenses related to satisfaction of mortgages	1.2
Interest Expense | 1440 Broadway | Mortgages
Debt Instrument [Line Items]
Expenses related to satisfaction of mortgages	$ 0.6

Mortgage Notes Payable (Schedul

Mortgage Notes Payable (Schedule of Mortgage Notes Payable) (Details)		Sep. 30, 2015USD ($)property	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Outstanding Loan Amount		$ 388,537,000	$ 172,242,000
1440 Broadway
Debt Instrument [Line Items]
Outstanding Loan Amount		$ 325,000,000
Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property		7
Effective Interest Rate	[1]	3.80%
Mortgages | Design Center
Debt Instrument [Line Items]
Encumbered Properties | property		1
Outstanding Loan Amount		$ 19,899,000	20,198,000
Effective Interest Rate		4.40%
Mortgages | Foot Locker
Debt Instrument [Line Items]
Encumbered Properties | property		1
Outstanding Loan Amount		$ 3,250,000	3,250,000
Effective Interest Rate		4.60%
Mortgages | Duane Reade
Debt Instrument [Line Items]
Encumbered Properties | property		1
Outstanding Loan Amount		$ 8,400,000	8,400,000
Effective Interest Rate		3.60%
Mortgages | 1100 Kings Highway
Debt Instrument [Line Items]
Encumbered Properties | property		1
Outstanding Loan Amount		$ 20,200,000	20,200,000
Effective Interest Rate		3.40%
Mortgages | 1623 Kings Highway
Debt Instrument [Line Items]
Encumbered Properties | property		1
Outstanding Loan Amount		$ 7,288,000	7,288,000
Effective Interest Rate		3.30%
Mortgages | 256 West 38th Street
Debt Instrument [Line Items]
Encumbered Properties | property		1
Outstanding Loan Amount		$ 24,500,000	24,500,000
Effective Interest Rate		3.10%
Mortgages | 1440 Broadway
Debt Instrument [Line Items]
Encumbered Properties | property	[2]	1
Outstanding Loan Amount	[2]	$ 305,000,000	0
Effective Interest Rate	[2]	3.80%
Additional available borrowing capacity		$ 20,000,000
Mortgages | Bleecker Street
Debt Instrument [Line Items]
Encumbered Properties | property
Outstanding Loan Amount		$ 0	21,300,000
Effective Interest Rate
Mortgages | Regal Parking Garage
Debt Instrument [Line Items]
Encumbered Properties | property
Outstanding Loan Amount		$ 0	3,000,000
Effective Interest Rate
Mortgages | Washington Street Portfolio
Debt Instrument [Line Items]
Encumbered Properties | property
Outstanding Loan Amount		$ 0	4,741,000
Effective Interest Rate
Mortgages | One Jackson Square
Debt Instrument [Line Items]
Encumbered Properties | property
Outstanding Loan Amount		$ 0	13,000,000
Effective Interest Rate
Mortgages | 350 West 42nd Street
Debt Instrument [Line Items]
Encumbered Properties | property
Outstanding Loan Amount		$ 0	11,365,000
Effective Interest Rate
Mortgages | 229 West 36th Street
Debt Instrument [Line Items]
Encumbered Properties | property
Outstanding Loan Amount		$ 0	$ 35,000,000
Effective Interest Rate
[1]	Calculated on a weighted average basis for all mortgages outstanding as of September 30, 2015.
[2]	Total commitments of $325.0 million; additional $20.0 million available, subject to lender approval, to fund certain tenant allowances, capital expenditures and leasing costs.

Mortgage Notes Payable (Sched53

Mortgage Notes Payable (Schedule Of Aggregate Future Principal Payments On Mortgage Notes Payable) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
October 1, 2015 - December 31, 2015	$ 101
2,016	12,068
2,017	55,533
2,018	3,703
2,019	308,869
Thereafter	8,263
Total	$ 388,537	$ 172,242

Subordinated Listing Distribu54

Subordinated Listing Distribution Derivative (Details) - USD ($) $ in Thousands	Nov. 21, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Listing Distribution Derivative [Line Items]
Change in fair value of listing promote		$ 0	$ (24,700)	$ 0	$ 13,400
Listing note, fair value		$ 33,500		$ 33,500
Excess of Adjusted Market Value of Real Estate Assets Plus Distributions Over Aggregate Contributed Investor Capital | New York Recovery Advisors, LLC | Advisor
Listing Distribution Derivative [Line Items]
Subordinated incentive listing distribution, percentage of benchmark		15.00%		15.00%
Minimum
Listing Distribution Derivative [Line Items]
Average market value of stock for listing period				180 days
Maximum
Listing Distribution Derivative [Line Items]
Average market value of stock for listing period				210 days
Annual Targeted Investor Return | Pre-tax Non-compounded Return on Capital Contribution | New York Recovery Advisors, LLC | Advisor
Listing Distribution Derivative [Line Items]
Cumulative capital investment return as a percentage of benchmark		6.00%		6.00%
Class B units | New York Recovery Advisors, LLC
Listing Distribution Derivative [Line Items]
Expected ownership interest (in shares)	3,062,512

Fair Value of Financial Instr55

Fair Value of Financial Instruments (Schedule of Fair Value, Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	$ 243	$ 4,659
Derivatives, net | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, net	(1,949)	(1,071)
Derivatives, net | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, net	0	0
Derivatives, net | Fair Value, Measurements, Recurring | Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, net	(1,949)	(1,071)
Derivatives, net | Fair Value, Measurements, Recurring | Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, net	0	0
Investment securities | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	243	4,659
Investment 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	243	4,659
Investment 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
Investment 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

Fair Value of Financial Instr56

Fair Value of Financial Instruments (Fair Value, by Balance Sheet Grouping) (Details) - Level 3 - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Mortgage notes payable | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	$ 388,537	$ 172,242
Mortgage notes payable | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	390,897	174,468
Credit Facility | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	485,000	635,000
Credit Facility | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	487,934	651,579
Preferred Equity Investment | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	0	35,100
Preferred Equity Investment | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value	$ 0	$ 34,800

Interest Rate Derivatives and57

Interest Rate Derivatives and Hedging Activities (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)derivative	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)derivative	Sep. 30, 2014USD ($)
Derivative [Line Items]
Gain (loss) on derivative instruments	$ 540	$ 0	$ 544	$ (1)
Derivatives, net
Derivative [Line Items]
Number of derivative instruments terminated | derivative	2		2
Gain (loss) on derivative instruments	$ (200)
Interest rate caps
Derivative [Line Items]
Gain (loss) on derivative instruments	300
Designated as Hedging Instrument | Derivatives, net
Derivative [Line Items]
Gain (loss) on derivative instruments			$ 200
Designated as Hedging Instrument | Cash Flow Hedging | Derivatives at Fair Value | Interest rate swaps
Derivative [Line Items]
Fair value of derivatives	2,400		2,400
Designated as Hedging Instrument | Cash Flow Hedging | Derivatives, net
Derivative [Line Items]
Amount required to settle its obligations under the agreement at its aggregate termination value incase of breach	$ 2,400		$ 2,400
Designated as Hedging Instrument | Cash Flow Hedging | Derivatives, net | Interest Expense
Derivative [Line Items]
Interests reclassified to AOCI			12 months
Interests reclassified to AOCI period			$ 1,400
Not Designated as Hedging Instrument | Interest rate caps
Derivative [Line Items]
Gain (loss) on derivative instruments			$ 300

Interest Rate Derivatives and58

Interest Rate Derivatives and Hedging Activities (Schedule Of Interest Rate Derivative) (Details) $ in Thousands	Sep. 30, 2015USD ($)derivative	Dec. 31, 2014USD ($)derivative
Interest rate swaps | Designated as Hedging Instrument | Cash Flow Hedging
Derivative [Line Items]
Number of Instruments | derivative	4	6
Notional Amount	$ 131,988	$ 179,988
Interest rate caps | Not Designated as Hedging Instrument
Derivative [Line Items]
Number of Instruments | derivative	1	0
Notional Amount	$ 265,000	$ 0

Interest Rate Derivatives and59

Interest Rate Derivatives and Hedging Activities (Schedule of Derivative Instruments in Statement of Financial Position, Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Interest rate caps | Not Designated as Hedging Instrument | Derivative Assets, at Fair Value
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	$ 371	$ 0
Cash Flow Hedging | Interest rate swaps | Designated as Hedging Instrument | Derivative Assets, at Fair Value
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	0	205
Cash Flow Hedging | Interest rate swaps | Designated as Hedging Instrument | Derivative Liabilities, at Fair Value
Derivatives, Fair Value [Line Items]
Derivative liabilities, at fair value	$ (2,320)	$ (1,276)

Interest Rate Derivatives and60

Interest Rate Derivatives and Hedging Activities (Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance) (Details) - Cash Flow Hedging - Derivatives, net - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss recognized in accumulated other comprehensive income (loss) from interest rate derivatives (effective portion)	$ (1,286)	$ 619	$ (3,005)	$ (1,613)
Amount of loss recognized in loss on derivative instruments (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing)	0	0	(4)	1
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss reclassified from accumulated other comprehensive income (loss) into income as interest expense (effective portion)	$ (706)	$ (545)	$ (1,759)	$ (1,616)

Interest Rate Derivatives and61

Interest Rate Derivatives and Hedging Activities (Schedule of Offsetting Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Assets	$ 371	$ 205
Gross Amounts of Recognized Liabilities	(2,320)	(1,276)
Net Amounts of Assets (Liabilities) presented on the Balance Sheet	(1,949)	(1,071)
Financial Instruments	0	0
Cash Collateral Posted	0	0
Net Amount	$ (1,949)	$ (1,071)

Common Stock (Details)

Common Stock (Details) - $ / shares	3 Months Ended		9 Months Ended		18 Months Ended	41 Months Ended	43 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Apr. 30, 2014	Mar. 31, 2014	Dec. 31, 2014
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	162,519,934		162,519,934		162,519,934			162,181,939
Dividends declared (in dollars per share)	$ 0.12	$ 0.12	$ 0.35	$ 0.35	$ 0.46	$ 0.605
Dividends declared per day (in dollars per share)							$ 0.0016575342
Common stock
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	162,519,934		162,519,934		162,519,934			162,181,939

Commitments and Contingencies63

Commitments and Contingencies (Minimum Lease Payments) (Details) $ in Thousands	Sep. 30, 2015USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
October 1, 2015 - December 31, 2015, Operating Leases	$ 1,242
2016, Operating Leases	4,958
2017, Operating Leases	4,905
2018, Operating Leases	5,089
2019, Operating Leases	5,346
Thereafter, Operating Leases	251,627
Total, Operating Leases	273,167
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
October 1, 2015 - December 31, 2015, Operating Leases	22
2016, Operating Leases	86
2017, Operating Leases	86
2018, Operating Leases	86
2019, Operating Leases	86
Thereafter, Operating Leases	3,490
Total, Operating Leases	3,856
Less: amounts representing interest	(1,737)
Total present value of minimum lease payments	$ 2,119

Commitments and Contingencies64

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 1,900	$ 5,800	$ 5,800
Interest expense	$ 16	$ 48	$ 48

Commitments and Contingencies65

Commitments and Contingencies (Capital Lease Assets) (Details) - Building and Building Improvements - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Capital Leased Assets [Line Items]
Buildings, fixtures and improvements	$ 11,783	$ 11,783
Less accumulated depreciation and amortization	(1,563)	(1,137)
Total real estate investments, net	$ 10,220	$ 10,646

Related Party Transactions an66

Related Party Transactions and Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Sponsor | Real Estate Investment Fund
Related Party Transaction [Line Items]
Investment income	$ 100	$ 36	$ 100	$ 36

Related Party Transactions an67

Related Party Transactions and Arrangements (Receivables from Related Party) (Details) - Viceroy Hotel - Affiliated Entity - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Revenue from Related Parties	$ 25	$ 110	$ 164	$ 318
Receivable	$ 0		$ 0		$ 23

Related Party Transactions an68

Related Party Transactions and Arrangements (Fees Paid in Connection With the Operations of the Company) (Details) - USD ($)	Apr. 15, 2014	Sep. 30, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Due from affiliates		$ 0	$ 0
New York Recovery Advisors, LLC | Advisor
Related Party Transaction [Line Items]
Cost of assets maximum		$ 3,000,000,000
Asset management fees earned above		0.40%
New York Recovery Advisors, LLC | Contract Purchase Price | Advisor
Related Party Transaction [Line Items]
Acquisition fees earned by related party		1.00%
New York Recovery Advisors, LLC | Average Invested Assets | Advisor
Related Party Transaction [Line Items]
Asset management fees as a percentage of benchmark		0.50%	0.75%
Cost of assets maximum		$ 3,000,000,000
New York Recovery Advisors, LLC | Gross Revenue, Multi-tenant Properties | Advisor
Related Party Transaction [Line Items]
Property management fees as a percentage of benchmark		4.00%
New York Recovery Advisors, LLC | Amount Available or Outstanding Under Financing Arrangement | Advisor
Related Party Transaction [Line Items]
Financing coordination as a percentage of benchmark		0.75%
New York Recovery Advisors, LLC and Realty Capital Securities, LLC | Contract Purchase Price | Advisor
Related Party Transaction [Line Items]
Unearned units, in lieu of asset management fees (in shares)	1,188,667
Equity-based compensation	$ 11,500,000
Maximum | New York Recovery Advisors, LLC | Contract Purchase Price | Advisor
Related Party Transaction [Line Items]
Acquisition fees and acquisition related expenses earned by related party		4.50%
Maximum | New York Recovery Advisors, LLC | Gross Revenue, Managed Properties | Advisor
Related Party Transaction [Line Items]
Oversight fees as a percentage of benchmark		1.00%
Greater Of | Maximum | New York Recovery Advisors, LLC | Average Invested Assets | Advisor
Related Party Transaction [Line Items]
Operating expenses as a percentage of benchmark		2.00%
Greater Of | Maximum | New York Recovery Advisors, LLC | Net Income, Excluding Additions to Non-cash Reserves and Gains on Sales of Assets | Advisor
Related Party Transaction [Line Items]
Operating expenses as a percentage of benchmark		25.00%

Related Party Transactions an69

Related Party Transactions and Arrangements (Fees Paid in Connection With the Operations of the Company, Incurred, Forgiven and Payable) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Due to affiliates, net		$ 357		$ 357		$ 575
Acquisition and Related Expenses | Nonrecurring fees
Related Party Transaction [Line Items]
Due to affiliates, net		0		0		0
Financing coordination fees | Nonrecurring fees
Related Party Transaction [Line Items]
Due to affiliates, net		0		0		0
Asset management fees | Ongoing fees
Related Party Transaction [Line Items]
Due to affiliates, net	[1]	10		10		15
Transfer agent and other professional fees | Ongoing fees
Related Party Transaction [Line Items]
Due to affiliates, net		347		347		560
Property management and leasing fees | Ongoing fees
Related Party Transaction [Line Items]
Due to affiliates, net		0		0		0
Dividends on Class B units | Ongoing fees
Related Party Transaction [Line Items]
Due to affiliates, net		0		0		$ 0
Incurred
Related Party Transaction [Line Items]
Fees paid to related parties		3,569	$ 6,722	10,268	$ 13,093
Incurred | Acquisition and Related Expenses | Nonrecurring fees
Related Party Transaction [Line Items]
Fees paid to related parties		0	3,350	0	3,350
Incurred | Financing coordination fees | Nonrecurring fees
Related Party Transaction [Line Items]
Fees paid to related parties		0	0	0	2,363
Incurred | Asset management fees | Ongoing fees
Related Party Transaction [Line Items]
Fees paid to related parties	[1]	3,121	2,980	9,366	5,254
Incurred | Transfer agent and other professional fees | Ongoing fees
Related Party Transaction [Line Items]
Fees paid to related parties		448	392	902	2,019
Incurred | Property management and leasing fees | Ongoing fees
Related Party Transaction [Line Items]
Fees paid to related parties		0	0	0	0
Incurred | Dividends on Class B units | Ongoing fees
Related Party Transaction [Line Items]
Fees paid to related parties		0	0	0	107
Forgiven
Related Party Transaction [Line Items]
Fees paid to related parties		727	431	1,946	1,218
Forgiven | Acquisition and Related Expenses | Nonrecurring fees
Related Party Transaction [Line Items]
Fees paid to related parties		0	0	0	0
Forgiven | Financing coordination fees | Nonrecurring fees
Related Party Transaction [Line Items]
Fees paid to related parties		0	0	0	0
Forgiven | Asset management fees | Ongoing fees
Related Party Transaction [Line Items]
Fees paid to related parties	[1]	0	0	0	0
Forgiven | Transfer agent and other professional fees | Ongoing fees
Related Party Transaction [Line Items]
Fees paid to related parties		0	0	0	0
Forgiven | Property management and leasing fees | Ongoing fees
Related Party Transaction [Line Items]
Fees paid to related parties		727	431	1,946	1,218
Forgiven | Dividends on Class B units | Ongoing fees
Related Party Transaction [Line Items]
Fees paid to related parties		$ 0	$ 0	$ 0	$ 0
[1]	Prior to the Listing, the Company caused the OP to issue to the Advisor restricted performance based Class B units for asset management services, which vested as of the Listing.

Related Party Transactions an70

Related Party Transactions and Arrangements (Fees Absorbed by Affiliate) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Due from affiliates	$ 0		$ 0		$ 0
New York Recovery Advisors, LLC | Advisor
Related Party Transaction [Line Items]
Related party transaction, amount	0	$ 1,000,000	0	$ 2,041,000
New York Recovery Advisors, LLC | Property Operating Expenses Absorbed | Advisor
Related Party Transaction [Line Items]
Related party transaction, amount	0	623,000	0	623,000
New York Recovery Advisors, LLC | Absorbed General and Administrative Expenses | Advisor
Related Party Transaction [Line Items]
Related party transaction, amount	$ 0	$ 377,000	$ 0	$ 1,418,000

Related Party Transactions an71

Related Party Transactions and Arrangements (Fees Paid in Connection with the Liquidation or Listing of the Company's Real Estate Assets) (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended		12 Months Ended
	Apr. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2013
RCS Advisory Services, LLC
Related Party Transaction [Line Items]
Transaction management fee		$ 3,000
Realty Capital Securities, LLC and American National Stock Transfer, LLC | Dealer Manager and Transfer Agent
Related Party Transaction [Line Items]
Fees paid to related parties			$ 1,300
Information agent and advisory service fee		$ 1,900
Transaction Management | RCS Advisory Services, LLC
Related Party Transaction [Line Items]
Fees paid to related parties			1,500	$ 1,500
Information Agent and Advisory Service Fee | Realty Capital Securities, LLC and American National Stock Transfer, LLC | Dealer Manager and Transfer Agent
Related Party Transaction [Line Items]
Fees paid to related parties				$ 600
Fees and expense reimbursements from the Advisor and Dealer Manager | RCS Advisory Services, LLC | Dealer Manager
Related Party Transaction [Line Items]
Fees paid to related parties	$ 6,900
Transaction fee earned		0.25%
Contract Sales Price | Maximum | New York Recovery Advisors, LLC | Advisor
Related Party Transaction [Line Items]
Fees paid to related parties		$ 600
Real estate commission earned by related party		2.00%
Contract Sales Price | Maximum | Brokerage Commission Fees | New York Recovery Advisors, LLC | Advisor
Related Party Transaction [Line Items]
Real estate commission earned by related party		50.00%
Contract Sales Price | Maximum | Real Estate Commissioner | New York Recovery Advisors, LLC | Advisor
Related Party Transaction [Line Items]
Real estate commission earned by related party		6.00%
General Legal Services | Maximum | New York Recovery Advisors, LLC | Advisor
Related Party Transaction [Line Items]
Fees paid to related parties			$ 9

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)	$ 0.01			$ 0.01		$ 0.01
Stock Options | Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	500,000			500,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum authorized amount as a percentage of shares authorized			5.00%
Common stock, par value (in dollars per share)			$ 0.01
Maximum percent of awards as a percent of total outstanding			10.00%
Restricted Stock | Restricted Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)			7,500,000
Shares automatically granted (in shares)	3,000			3,000
Vesting percentage	20.00%			20.00%
Vesting period				4 years
Granted (in shares)				301,907
Share-based payment award, award vesting rights				25.00%
Forfeited (in shares)	56,633			56,633
Equity-based compensation	$ 0.2	$ 1		$ 0.4	$ 1.1
Compensation cost not yet recognized	$ 2.1			$ 2.1
Shares expected to vest				3 years 4 months 24 days
Advisor | Restricted Stock | Restricted Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				279,365

Share-Based Compensation (Restr

Share-Based Compensation (Restricted Stock Activity) (Details) - Restricted Share Plan - Restricted Stock - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance (in shares)		89,499
Granted (in shares)		301,907
Vested (in shares)		(17,558)
Forfeited (in shares)	(56,633)	(56,633)
Ending Balance (in shares)	317,215	317,215
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)	$ 10.44	$ 10.44	$ 10.73
Granted (in dollars per share)		10.36
Vested (in dollars per share)		10.75
Forfeited (in dollars per share)		10.36
Ending Balance (in dollars per share)	$ 10.44	$ 10.44

Share-Based Compensation (Multi

Share-Based Compensation (Multi-Year Outperformance Plan Agreement) (Details) - USD ($)		Apr. 15, 2015	Apr. 15, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments of dividends						$ 56,016,000	$ 47,464,000
New Multi-Year Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation				$ 3,900,000	$ 1,510,705	$ 6,100,000	3,312,308
New Multi-Year Outperformance Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Opp units issued (in shares)			$ 8,880,579
Company's market capitalization percentage			5.00%
Share-based payment award, award vesting rights						33.33%
Distribution entitlement percentage						10.00%
Payments of dividends				$ 100,000	$ 200,000	$ 500,000	$ 200,000
Vested (in shares)		367,059
New Multi-Year Outperformance Plan | Performance Shares | Performance Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Absolute Component: 4% of any excess Total Return if total shareholder return attained above an absolute hurdle measured from the beginning of such period:				21.00%		21.00%
100% will be earned if total shareholder return achieved is at least:	[1]			18.00%		18.00%
50% will be earned if total shareholder return achieved is:	[1]			0.00%		0.00%
0% will be earned if total shareholder return achieved is less than:	[1]			0.00%		0.00%
New Multi-Year Outperformance Plan | Performance Shares | Annual Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Absolute Component: 4% of any excess Total Return if total shareholder return attained above an absolute hurdle measured from the beginning of such period:				7.00%		7.00%
100% will be earned if total shareholder return achieved is at least:	[1]			6.00%		6.00%
50% will be earned if total shareholder return achieved is:	[1]			0.00%		0.00%
0% will be earned if total shareholder return achieved is less than:	[1]			0.00%		0.00%
New Multi-Year Outperformance Plan | Performance Shares | Interim Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Absolute Component: 4% of any excess Total Return if total shareholder return attained above an absolute hurdle measured from the beginning of such period:				14.00%		14.00%
100% will be earned if total shareholder return achieved is at least:	[1]			12.00%		12.00%
50% will be earned if total shareholder return achieved is:	[1]			0.00%		0.00%
0% will be earned if total shareholder return achieved is less than:	[1]			0.00%		0.00%
Relative Component | Excess Return, Above Peer Group | New Multi-Year Outperformance Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized, percentage of benchmark				4.00%		4.00%
Relative Component | Cumulative Return, Above Threshold | New Multi-Year Outperformance Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded as a percentage of maximum				100.00%		100.00%
Relative Component | Cumulative Return, Above Threshold | New Multi-Year Outperformance Plan | Performance Shares | Minimum | Performance Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Return percentage threshold				0.00%		0.00%
Relative Component | Cumulative Return, Above Threshold | New Multi-Year Outperformance Plan | Performance Shares | Minimum | Annual Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Return percentage threshold				0.00%		0.00%
Relative Component | Cumulative Return, Above Threshold | New Multi-Year Outperformance Plan | Performance Shares | Minimum | Interim Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Return percentage threshold				0.00%		0.00%
Relative Component | Cumulative Return, Above Threshold | New Multi-Year Outperformance Plan | Performance Shares | Maximum | Performance Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Return percentage threshold				18.00%		18.00%
Relative Component | Cumulative Return, Above Threshold | New Multi-Year Outperformance Plan | Performance Shares | Maximum | Annual Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Return percentage threshold				6.00%		6.00%
Relative Component | Cumulative Return, Above Threshold | New Multi-Year Outperformance Plan | Performance Shares | Maximum | Interim Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Return percentage threshold				12.00%		12.00%
Relative Component | Cumulative Return, Equal to Threshold | New Multi-Year Outperformance Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded as a percentage of maximum				50.00%		50.00%
Relative Component | Cumulative Return, Below Threshold | New Multi-Year Outperformance Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded as a percentage of maximum				0.00%		0.00%
Absolute Component | Excess Return, Above Threshold | New Multi-Year Outperformance Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized, percentage of benchmark				4.00%		4.00%
[1]	The “Peer Group” is comprised of the companies in the SNL US REIT Office Index.

Share-Based Compensation (Fair

Share-Based Compensation (Fair Value Inputs) (Details) - Multi-year Outperformance Plan - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OPP	$ 29,900	$ 29,100
Quoted Prices in Active Markets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OPP	0	0
Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OPP	0	0
Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OPP	$ 29,900	$ 29,100

Share-Based Compensation (Level

Share-Based Compensation (Level 3 Reconciliations) (Details) - Multi-year Outperformance Plan - Share Based Compensation Liability $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 29,100
Fair value adjustment	800
Ending Balance	$ 29,900

Share-Based Compensation (Valua

Share-Based Compensation (Valuation Techniques) (Details) - Monte Carlo Simulation - Fair Value, Measurements, Recurring - Share Based Compensation Liability - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
OPP	$ 29,900	$ 29,100
Expected volatility	26.00%	27.00%

Accumulated Other Comprehensi78

Accumulated Other Comprehensive Income (Loss) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ (816)
Other comprehensive income (loss), before reclassifications	(3,142)
Amounts reclassified from accumulated other comprehensive income (loss)	1,657
Net current-period other comprehensive income (loss)	(1,485)
Ending Balance	(2,301)
Unrealized gains on available-for-sale securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	244
Other comprehensive income (loss), before reclassifications	(137)
Amounts reclassified from accumulated other comprehensive income (loss)	(102)
Net current-period other comprehensive income (loss)	(239)
Ending Balance	5
Designated derivatives fair value adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(1,060)
Other comprehensive income (loss), before reclassifications	(3,005)
Amounts reclassified from accumulated other comprehensive income (loss)	1,759
Net current-period other comprehensive income (loss)	(1,246)
Ending Balance	$ (2,306)

Net Income (Loss) Per Share (Sc

Net Income (Loss) Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net income (loss) attributable to stockholders	$ (12,752)	$ 9,695	$ (29,610)	$ (65,698)
Adjustments to net income (loss) attributable to stockholders for common share equivalents	0	(1,305)	0	0
Net income (loss) attributable to stockholders	$ (12,752)	$ 8,390	$ (29,610)	$ (65,698)
Basic weighted average shares outstanding (in shares)	162,202,733	161,975,420	162,150,947	168,624,050
Basic net income (loss) per share attributable to stockholders (in dollars per share)	$ (0.08)	$ 0.06	$ (0.18)	$ (0.39)
Diluted weighted average common shares outstanding (in shares)	162,202,733	162,181,209	162,150,947	168,624,050
Diluted net income (loss) per share attributable to stockholders (in dollars per share)	$ (0.08)	$ 0.05	$ (0.18)	$ (0.39)

Net Income (Loss) Per Share (80

Net Income (Loss) Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	13,375,884	10,152,779	13,375,884	10,326,951
Unvested restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	317,215	0	317,215	174,172
OP units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	4,178,090	1,272,200	4,178,090	1,272,200
LTIP units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	8,880,579	8,880,579	8,880,579	8,880,579

Non-Controlling Interests (Deta

Non-Controlling Interests (Details) - USD ($) $ in Thousands	May. 13, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Sep. 30, 2012
Noncontrolling Interest [Line Items]
Distributions to non-controlling interest holders				$ 1,982
163 Washington Ave Condominiums
Noncontrolling Interest [Line Items]
Noncontrolling members' aggregate investment							$ 500
Common stock
Noncontrolling Interest [Line Items]
OP units converted to common stock (in shares)	92,751
Advisor
Noncontrolling Interest [Line Items]
Distributions to non-controlling interest holders		$ 600	$ 300	$ 2,000	$ 400
OP units | Advisor
Noncontrolling Interest [Line Items]
Nonvested Shares outstanding (in shares)		4,178,090		4,178,090		4,270,841
LTIP units | Advisor
Noncontrolling Interest [Line Items]
Nonvested Shares outstanding (in shares)		8,880,579		8,880,579		8,880,579

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) $ in Millions	Oct. 21, 2015USD ($)
Held-for-sale Property | 163 Washington Avenue | Subsequent Event
Subsequent Event [Line Items]
Sales of real estate	$ 37.7