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Document and Entity Information - USD ($) $ in Thousands	3 Months Ended
Document and Entity Information - USD ($) $ in Thousands	Mar. 31, 2011	Jun. 30, 2010
Document and Entity Information [Abstract]
Entity Registrant Name	VORNADO REALTY TRUST
Entity Central Index Key	0000899689
Document Type	10-Q
Document Period End Date	Mar. 31, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q1
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	184,239,623
Entity Public Float		$ 11,920,063
Entity Well Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2011	Dec. 31, 2010
Real estate, at cost:
Land	$ 4,594,154	$ 4,598,303
Buildings and improvements	12,723,892	12,733,487
Development costs and construction in progress	220,356	218,156
Leasehold improvements and equipment	125,859	124,976
Total	17,664,261	17,674,922
Less accumulated depreciation and amortization	(2,841,824)	(2,763,997)
Real estate, net	14,822,437	14,910,925
Cash and cash equivalents	618,361	690,789
Restricted cash	234,273	200,822
Marketable securities	821,920	766,116
Accounts receivable, net of allowance for doubtful accounts of $67,589 and $62,979	167,621	157,146
Investments in partially owned entities	1,672,483	1,375,006
Real Estate Fund investments	230,657	144,423
Mezzanine loans receivable, net	140,567	202,412
Receivable arising from the straight-lining of rents, net of allowance of $7,972 and $7,323	732,384	720,806
Deferred leasing and financing costs, net of accumulated amortization of $233,987 and $223,131	359,677	368,314
Identified intangible assets, net of accumulated amortization of $350,104 and $338,508	333,270	348,745
Assets related to discontinued operations	0	234,464
Due from officers	13,181	13,187
Other assets	345,569	384,316
Assets	20,492,400	20,517,471
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Notes and mortgages payable	8,594,920	8,259,298
Senior unsecured notes	982,588	1,082,928
Exchangeable senior debentures	492,690	491,000
Convertible senior debentures	187,198	186,413
Revolving credit facility debt	374,000	874,000
Accounts payable and accrued expenses	469,443	438,479
Deferred credit	578,629	583,369
Deferred compensation plan	97,951	91,549
Deferred tax liabilities	13,279	13,278
Liabilities related to discontinued operations	0	255,922
Other liabilities	90,338	82,856
Total liabilities	11,881,036	12,359,092
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	1,366,520	1,327,974
Vornado shareholders' equity:
Preferred shares of beneficial interest: no par value per share; authorized 110,000,000 shares; issued and outstanding 32,339,009 and 32,340,009 shares	782,933	783,088
Common shares of beneficial interest: $.04 par value per share; authorized 250,000,000 shares; issued and outstanding 184,239,623 and 183,661,875 shares	7,340	7,317
Additional capital	6,935,735	6,932,728
Earnings less than distributions	(1,208,993)	(1,480,876)
Accumulated other comprehensive income	130,614	73,453
Total Vornado shareholders' equity	6,647,629	6,315,710
Noncontrolling interest in consolidated subsidiaries	597,215	514,695
Total equity	7,244,844	6,830,405
Total liabilities, redeemable noncontrolling interests and equity	20,492,400	20,517,471
Toys R Us [Member]
Real estate, at cost:
Investments in partially owned entities	556,189	447,334
All Equity Method Investees Excluding Toys [Member]
Real estate, at cost:
Investments in partially owned entities	1,116,294	927,672
Redeemable Noncontrolling Interests Units Outstanding Class A Member
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	1,105,520	1,066,974
Redeemable noncontrolling interests units outstanding - Series D [Member]
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	$ 261,000	$ 261,000

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2011	Dec. 31, 2010
ASSETS
Accounts receivable, allowance for doubtful accounts	$ 67,589	$ 62,979
Mezzanine loans receivable, allowance	0	73,216
Receivable arising from the straight-lining of rents, allowance	7,972	7,323
Deferred leasing and financing costs, accumulated amortization	233,987	223,131
Identified intangible assets (included in other assets): Accumulated amortization	$ 350,104	$ 338,508
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Preferred shares of beneficial interest: authorized shares	110,000,000	110,000,000
Preferred shares of beneficial interest: issued shares	32,339,009	32,340,009
Preferred shares of beneficial interest: outstanding shares	32,339,009	32,340,009
Common shares of beneficial interest: par value per share	$ 0.04	$ 0.04
Common shares of beneficial interest: authorized shares	250,000,000	250,000,000
Common shares of beneficial interest: issued shares	184,239,623	183,661,875
Common shares of beneficial interest: outstanding shares	184,239,623	183,661,875
Redeemable Noncontrolling Interests Units Outstanding Class A Member
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Redeemable noncontrolling interests units outstanding	12,634,510	12,804,202
Redeemable noncontrolling interests units outstanding - Series D [Member]
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Redeemable noncontrolling interests units outstanding	10,400,001	10,400,001

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
REVENUES:
Property rentals	$ 571,160	$ 552,457
Tenant expense reimbursements	90,959	91,930
Cleveland Medical Mart development project	40,699	0
Fee and other income	34,293	40,927
Total Revenues	737,111	685,314
EXPENSES:
Operating	290,773	274,693
Depreciation and amortization	132,227	133,793
General and administrative	59,003	48,630
Cleveland Medical Mart development project	38,278	0
Acquisition and other costs	18,270	0
Total expenses	538,551	457,116
Operating income	198,560	228,198
Income (loss) from partially owned entities	129,228	137,214
Income from Real Estate Fund	1,080	0
Interest and other investment income (loss), net	117,108	14,704
Interest and debt expense (including amortization of deferred financing costs of $4,633 and $4,426 respectively)	(134,765)	(135,727)
Net gain on disposition of wholly owned and partially owned assets	6,677	3,305
Income before income taxes	317,888	247,694
Income tax expense	(6,382)	(5,580)
Income from continuing operations	311,506	242,114
Income (loss) from discontinued operations	134,315	(9,570)
Net income	445,821	232,544
Net (income) attributable to noncontrolling interests in consolidated subsidiaries	(1,350)	(213)
Net (income) attributable to noncontrolling interests in the Operating Partnership, including unit distributions	(31,808)	(17,779)
Net income attributable to Vornado	412,663	214,552
Preferred share dividends	(13,448)	(14,267)
NET INCOME attributable to common shareholders	$ 399,215	$ 200,285
INCOME PER COMMON SHARE - BASIC:
Income from continuing operations, net	$ 1.49	$ 1.15
Income (loss) from discontinued operations, net	0.68	(0.05)
Net income per common share	$ 2.17	$ 1.10
Weighted average shares	183,988	181,542
INCOME PER COMMON SHARE - DILUTED:
Income from continuing operations, net	$ 1.46	$ 1.14
Income (loss) from discontinued operations, net	0.66	(0.05)
Net income per common share	$ 2.12	$ 1.09
Weighted average shares	191,529	183,445
DIVIDENDS PER COMMON SHARE	$ 0.69	$ 0.65
Toys R Us [Member]
EXPENSES:
Income (loss) from partially owned entities	$ 112,944	$ 125,870
All Equity Method Investees Excluding Toys [Member]
EXPENSES:
Income (loss) from partially owned entities	$ 16,284	$ 11,344

CONSOLIDATED STATEMENTS OF INCOME (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
CONSOLIDATED STATEMENTS OF INCOME (Parentheticals)
Amortization of deferred financing costs	$ 4,633	$ 4,426

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Statement [Line Items]
Beginning balance, value	$ 6,830,405	$ 6,649,406
Net income	414,013	214,765
Dividends paid on common shares, value	(126,936)	(117,958)
Dividends paid on preferred shares, value	(13,559)	(14,267)
Common shares issued:
Upon redemption of Class A units, at redemption value, value	27,539	18,128
Under employees' share option plan, value	14,639	(24,871)
Under dividend reinvestment plan, value	434	390
Limited partners' contributions:
Conversion of Series A preferred shares to common shares, value	0	0
Deferred compensation shares and options, value	2,370	1,646
Change in unrealized net gain or loss on securities available-for-sale	68,039	17,588
Our share of partially owned entities OCI adjustments	(3,791)	(15,688)
Adjustment to carry redeemable Class A units at redemption value	(42,227)	(104,247)
Distributions to Limited Partners	(11,027)
Other	(7,293)	(513)
Ending balance, value	7,244,844	$ 6,624,379
Real Estate Fund [Member]
Limited partners' contributions:
Limited partners' contribution	92,068
All Other Except Real Estate Fund [Member]
Limited partners' contributions:
Limited partners' contribution	$ 170
Preferred Shares
Statement [Line Items]
Beginning balance, shares	32,340	33,952
Beginning balance, value	$ 783,088	$ 823,686
Limited partners' contributions:
Conversion of Series A preferred shares to common shares, value	$ (50)	$ (137)
Conversion Of Series A Preferred Shares To Common Shares, Shares	(1)	(2)
Other	$ (105)
Ending balance, shares	32,339	33,950
Ending balance, value	$ 782,933	$ 823,549
Common Shares
Statement [Line Items]
Beginning balance, shares	183,662	181,214
Beginning balance, value	$ 7,317	$ 7,218
Common shares issued:
Upon redemption of Class A units, at redemption value, shares	320	268
Upon redemption of Class A units, at redemption value, value	$ 13	$ 11
Under employees' share option plan, shares	240	405
Under employees' share option plan, value	$ 10	$ 16
Under dividend reinvestment plan, shares	5	6
Under dividend reinvestment plan, value		$ 0
Limited partners' contributions:
Conversion of Series A preferred shares to common shares, value		$ 0
Conversion Of Series A Preferred Shares To Common Shares, Shares	2	4
Deferred compensation shares and options, shares	11	17
Deferred compensation shares and options, value		$ 2
Ending balance, shares	184,240	181,914
Ending balance, value	$ 7,340	$ 7,247
Additional Capital
Statement [Line Items]
Beginning balance, value	6,932,728	6,961,007
Common shares issued:
Upon redemption of Class A units, at redemption value, value	27,526	18,117
Under employees' share option plan, value	15,027	541
Under dividend reinvestment plan, value	434	390
Limited partners' contributions:
Conversion of Series A preferred shares to common shares, value	50	137
Deferred compensation shares and options, value	2,370	1,644
Adjustment to carry redeemable Class A units at redemption value	(42,227)	(104,247)
Other	(173)	(60)
Ending balance, value	6,935,735	6,877,529
Earnings Less Than Distributions
Statement [Line Items]
Beginning balance, value	(1,480,876)	(1,577,591)
Net income	412,663	214,552
Dividends paid on common shares, value	(126,936)	(117,958)
Dividends paid on preferred shares, value	(13,559)	(14,267)
Common shares issued:
Under employees' share option plan, value	(398)	(25,428)
Limited partners' contributions:
Other	113	2
Ending balance, value	(1,208,993)	(1,520,690)
Accumulated Other Comprehensive Income (Loss)
Statement [Line Items]
Beginning balance, value	73,453	28,449
Limited partners' contributions:
Change in unrealized net gain or loss on securities available-for-sale	68,039	17,588
Our share of partially owned entities OCI adjustments	(3,791)	(15,688)
Other	(7,087)	(396)
Ending balance, value	130,614	29,953
Non-controlling Interests
Statement [Line Items]
Beginning balance, value	514,695	406,637
Net income	1,350	213
Limited partners' contributions:
Distributions to Limited Partners	(11,027)
Other	(41)	(59)
Ending balance, value	597,215	$ 406,791
Non-controlling Interests \| Real Estate Fund [Member]
Limited partners' contributions:
Limited partners' contribution	92,068
Non-controlling Interests \| All Other Except Real Estate Fund [Member]
Limited partners' contributions:
Limited partners' contribution	$ 170

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Cash Flows from Operating Activities:
Net income	$ 445,821	$ 232,544
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including amortization of deferred financing costs)	136,860	140,250
Equity in income of partially owned entities including ToysRUs	(129,228)	(137,214)
Net (gain) loss on early extinguishment of debt	(83,907)	0
Net gain on sale of real estate	(51,165)	0
Distributions of income from partially owned entities	25,921	7,123
Income from the mark-to-market of J.C. Penney derivative position	(17,163)	0
Amortization of below-market leases, net	(16,892)	(15,907)
Straight-lining of rental income	(13,942)	(20,922)
Mezzanine loans loss reversal and net gain on disposition	(82,744)
Other non-cash adjustments	8,211	2,252
Net gain on disposition of wholly owned and partially owned assets	(6,677)	(3,305)
Litigation loss accrual	0	10,056
Changes in operating assets and liabilities:
Real Estate Fund Investments	(85,536)	0
Prepaid assets	34,761	44,855
Other assets	2,947	(7,464)
Accounts payable and accrued expenses	30,906	26,137
Accounts receivable, net	(10,475)	(2,480)
Other liabilities	8,404	12,123
Net cash provided by operating activities	196,102	288,048
Cash Flows from Investing Activities:
Investments in partially owned entities	(316,129)	(36,741)
Distributions of capital from partially owned entities	192,523	7,617
Proceeds from sales of real estate and related investments	127,199	38,879
Proceeds from sales and repayments of mezzanine loans	73,608	101,839
Restricted cash	12,174	(13,899)
Additions to real estate	(30,281)	(30,247)
Proceeds from sales of, and return of investment in, marketable securities	15,162	285
Development costs and construction in progress	(10,994)	(37,598)
Investments in mezzanine loans receivable and other	(2,841)	(28,873)
Proceeds from maturing short-term investments	0	25,000
Proceeds from sales of, and return of investment in, marketable securities	0	(13,917)
Acquisitions of real estate and other	0	(5,003)
Net cash provided by (used in) investing activities	60,421	7,342
Cash Flows from Financing Activities:
Repayments of borrowings	(1,197,312)	(525,246)
Proceeds from borrowings	937,518	660,335
Dividends paid on common shares	(126,936)	(117,958)
Contributions from noncontrolling interests	92,238	0
Distributions to noncontrolling interests	(23,639)	(13,082)
Proceeds received from exercise of employee share options	15,470	963
Dividends paid on preferred shares	(13,559)	(14,267)
Debt issuance and other costs	(12,161)	(3,351)
Repurchase of shares related to stock compensation agreements and related tax withholdings	(570)	(25,323)
Purchase of outstanding preferred units and shares	0	(4,000)
Net cash used in financing activities	(328,951)	(41,929)
Net (decrease) increase in cash and cash equivalents	(72,428)	253,461
Cash and cash equivalents at beginning of period	690,789	535,479
Cash and cash equivalents at end of period	618,361	788,940
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest (including capitalized interest of $0 and $614)	108,458	121,573
Cash payments for income taxes	2,509	1,701
Non-Cash Investing and Financing Activities:
Unrealized net gain (loss) on securities available for sale	68,039	17,588
Contribution of mezzanine loan receivable to a joint venture	73,750
Exchange of real estate	(45,625)
Adjustment to carry redeemable Class A units at redemption value	(42,227)	(104,247)
Redemption of Class A Operating Partnership units for common shares at redemption value	27,539	18,128
Decrease in assets and liabilities resulting from deconsolidation of discontinued operations:
Assets related to discontinued operations	(145,333)
Liabilities related to discontinued operations	(232,502)
Toys R Us [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income of partially owned entities including ToysRUs	(112,944)	(125,870)
All Equity Method Investees Excluding Toys [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income of partially owned entities including ToysRUs	$ (16,284)	$ (11,344)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
CONSOLIDATED STATEMENTS OF CASH FLOWS [Parentheticals]
Cash paid for capitalized interest	$ 0	$ 614

Organization

3 Months Ended

Mar. 31, 2011

Organization [Abstract]

Organization [Text Block]

1. Organization

Vornado Realty Trust (“Vornado”) is a fully-integrated real estate investment trust (“REIT”) and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P., a Delaware limited partnership (the “Operating Partnership”). Accordingly, Vornado's cash flow and ability to pay dividend to its shareholders is dependent upon the cash flow of the Operating Partnership and the ability of its direct and indirect subsidiaries to first satisfy their obligations to creditors. Vornado is the sole general partner of, and owned approximately 93.3% of the common limited partnership interest in the Operating Partnership at March 31, 2011. All references to “we,” “us,” “our,” the “Company” and “Vornado” refer to Vornado Realty Trust and its consolidated subsidiaries, including the Operating Partnership.

Basis of Presentation

3 Months Ended

Mar. 31, 2011

Basis of Presentation[Abstract]

Basis of Presentation [Text Block]

2. Basis of Presentation

The accompanying consolidated financial statements are unaudited and include the accounts of Vornado, and the Operating Partnership and its consolidated partially owned entities. All intercompany amounts have been eliminated. In our opinion, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. We have made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

These condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (the “SEC”) and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K, as amended, for the year ended December 31, 2010, as filed with the SEC. The results of operations for the three months ended March 31, 2011 are not necessarily indicative of the operating results for the full year.

Acquisitions

3 Months Ended

Mar. 31, 2011

Acquisitions Abstract

Acquisitions TextBlock

3. Acquisitions

Vornado Capital Partners, L.P. and Vornado Capital Partners Parallel, L.P. (the “Fund”)

We are the general partner and investment manager of the $800,000,000 real estate investment Fund, to which we have committed $200,000,000. The Fund has a term of eight years and is our exclusive investment vehicle during its three-year investment period for all investments that fit within the Fund's investment parameters, as defined. The Fund is accounted for under the AICPA Investment Company Guide and its investments are reported on its balance sheet at fair value, with changes in value each period recognized in earnings. We consolidate the accounts of the Fund into our consolidated financial statements.

As of March 31, 2011, the Fund received $232,301,000 of capital from partners, including $58,076,000 from us and has five investments aggregating approximately $229,959,000. In the first quarter of 2011, we incurred $3,048,000 of placement fees in connection with the February 2011 closing of the Fund, which are included in “general and administrative” expenses on our consolidated statement of income.

One Park Avenue

On March 1, 2011, we as a co-investor, together with the Fund, acquired a 95% interest in One Park Avenue, a 932,000 square foot office building located between 32nd and 33rd Streets in New York, for $374,000,000. The purchase price consisted of $137,000,000 in cash and 95% of a new $250,000,000 5-year mortgage that bears interest at 5.0%. The Fund accounts for its 64.7% interest in the property at fair value in accordance with the AICPA Investment Company Guide. We account for our directly owned 30.3% equity interest under the equity method of accounting in our New York Office Properties segment.

Marketable Securities and Derivative Instruments

3 Months Ended

Mar. 31, 2011

Marketable Securities and Derivative Instruments [Abstract]

Derivative Instrument and Marketable Securities

4. Marketable Securities and Derivative Instruments

Marketable Securities

Our portfolio of marketable securities is comprised of debt and equity securities that are classified as available for sale. Available for sale securities are presented on our consolidated balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the mark-to-market of these securities are recognized as an increase or decrease in “accumulated other comprehensive income” (a component of shareholders' equity on our consolidated balance sheet) and not recognized in income. Gains and losses are recognized in earnings only upon the sale of the securities and are recorded based on the weighted average cost of such securities.

As of March 31, 2011 and December 31, 2010, the fair value of marketable securities on our consolidated balance sheets, including the owned J.C. Penney common shares, as described below, was $821,920,000 and $766,116,000, respectively, and their average cost was $708,792,000 and $721,027,000, respectively. Aggregate unrealized gains were $113,128,000 and $45,089,000 as of March 31, 2011 and December 31, 2010, respectively. In the first quarter of 2011, we sold certain marketable securities for aggregate proceeds of $15,162,000, resulting in a net gain of $2,091,000 which is included as a component of "net gain on disposition of wholly owned and partially owned assets" on our consolidated statement of income.

Investment in J.C. Penney Company, Inc. (“J.C. Penney”) (NYSE: JCP)

We own an economic interest in 23,400,000 J.C. Penney common shares, or 9.9% of J.C. Penney's outstanding common shares. Below are the details of our investment.

We own 18,584,010 common shares at an average cost of $25.70 per share, or $477,678,000 in the aggregate. These shares, which have an aggregate fair value of $667,352,000 at March 31, 2011, are included in marketable equity securities on our consolidated balance sheet and are classified as “available for sale.” During the three months ended March 31, 2011, we recognized $66,903,000 from the mark-to-market of these shares, which is included in “accumulated other comprehensive income” (a component of shareholders' equity on our consolidated balance sheet).

We also own an economic interest in 4,815,990 common shares through a forward contract executed on October 7, 2010, at a weighted average strike price of $28.69 per share, or $138,163,000 in the aggregate. The contract may be settled, at our election, in cash or common shares, in whole or in part, at any time prior to October 9, 2012. The counterparty may accelerate settlement, in whole or in part, upon one year's notice to us. The strike price per share increases at an annual rate of LIBOR plus 80 basis points. The contract is a derivative instrument that does not qualify for hedge accounting treatment. Mark-to-market adjustments on the underlying common shares are recognized in “interest and other investment income, net” on our consolidated statements of income. During the three months ended March 31, 2011, we recognized $17,163,000 of income from the mark-to-market of the underlying common shares, based on J.C.Penney's closing share price of $35.91 per share at March 31, 2011.

As of March 31, 2011, the aggregate economic net gain on our investment in J.C. Penney was $224,453,000, based on J.C. Penney's closing share price of $35.91 per share and our weighted average cost of $26.32 per share.

Investments in Partially Owned Entities

3 Months Ended

Mar. 31, 2011

Investments in Partially Owned Entities [Abstract]

Investments in Partially Owned Entities

5. Investments in Partially Owned Entities

Toys “R” Us (“Toys”)

As of March 31, 2011, we own 32.7% of Toys. The business of Toys is highly seasonal. Historically, Toys' fourth quarter net income accounts for more than 80% of its fiscal year net income. We account for our investment in Toys under the equity method and record our 32.7% share of Toys net income or loss on a one-quarter lag basis because Toys' fiscal year ends on the Saturday nearest January 31, and our fiscal year ends on December 31. As of March 31, 2011, the carrying amount of our investment in Toys does not differ materially from our share of the equity in the net assets of Toys on a purchase accounting basis.

On May 28, 2010, Toys filed a registration statement with the SEC for the offering and sale of its common stock. The offering, if completed, would result in a reduction of our percentage ownership of Toys' equity. The size of the offering and its completion are subject to market and other conditions.

Below is a summary of Toys' latest available financial information on a purchase accounting basis:

(Amounts in thousands)		Balance as of
Balance Sheet:		January 29, 2011		October 30, 2010
	Assets	$	11,972,000	$	12,810,000
	Liabilities		10,145,000		11,317,000
	Toys “R” Us, Inc. equity		1,827,000		1,493,000

		For the Three Months Ended
Income Statement:		January 29, 2011		January 30, 2010
	Total revenues	$	5,972,000	$	5,857,000
	Net income attributable to Toys		339,000		379,000

Alexander's, Inc. (“Alexander's”) (NYSE: ALX)

As of March 31, 2011, we own 32.4% of the outstanding common shares of Alexander's. We manage, lease and develop Alexander's properties pursuant to the agreements described below which expire in March of each year and are automatically renewable. As of March 31, 2011, Alexander's owed us $44,357,000 in fees under these agreements.

As of March 31, 2011, the fair value of our investment in Alexander's, based on Alexander's March 31, 2011 closing share price of $406.95, was $673,123,000, or $484,843,000 in excess of the carrying amount on our consolidated balance sheet. As of March 31, 2011, the carrying amount of our investment in Alexander's, excluding amounts owed to us, exceeds our share of the equity in the net assets of Alexander's by approximately $59,643,000. The majority of this basis difference resulted from the excess of our purchase price for the Alexander's common stock acquired over the book value of Alexander's net assets. Substantially all of this basis difference was allocated, based on our estimates of the fair values of Alexander's assets and liabilities, to real estate (land and buildings). We are amortizing the basis difference related to the buildings into earnings as additional depreciation expense over their estimated useful lives. This depreciation is not material to our share of equity in Alexander's net income. The basis difference related to the land will be recognized upon disposition of our investment.

Below is a summary of Alexander's latest available financial information:

(Amounts in thousands)		Balance as of
Balance Sheet:		March 31, 2011		December 31, 2010
	Assets	$	1,685,000	$	1,679,000
	Liabilities		1,339,000		1,335,000
	Noncontrolling interests		3,000		3,000
	Stockholders' equity		343,000		341,000

		For the Three Months Ended
Income Statement:		March 31, 2011		March 31, 2010
	Total revenues	$	63,000	$	59,000
	Net income attributable to Alexander’s		18,000		15,000

5. Investments in Partially Owned Entities – continued

Lexington Realty Trust (“Lexington”) (NYSE: LXP)

As of March 31, 2011, we own 18,468,969 Lexington common shares, or approximately 12.6% of Lexington's common equity. We account for our investment in Lexington under the equity method because we believe we have the ability to exercise significant influence over Lexington's operating and financial policies, based on, among other factors, our representation on Lexington's Board of Trustees and the level of our ownership in Lexington as compared to other shareholders. We record our pro rata share of Lexington's net income or loss on a one-quarter lag basis because we file our consolidated financial statements on Form 10-K and 10-Q prior to the time that Lexington files its consolidated financial statements.

Based on Lexington's March 31, 2011 closing share price of $9.35, the fair value of our investment in Lexington was $172,685,000, or $115,251,000 in excess of the March 31, 2011 carrying amount on our consolidated balance sheet. As of March 31, 2011, the carrying amount of our investment in Lexington was less than our share of the equity in the net assets of Lexington by approximately $62,315,000. This basis difference resulted primarily from $107,882,000 of non-cash impairment charges recognized during 2008, partially offset by purchase accounting for our acquisition of an additional 8,000,000 common shares of Lexington in October 2008, of which the majority relates to our estimate of the fair values of Lexington's real estate (land and buildings) as compared to the carrying amounts in Lexington's consolidated financial statements. The basis difference related to the buildings is being amortized over their estimated useful lives as an adjustment to our equity in net income or loss of Lexington. This amortization is not material to our share of equity in Lexington's net income or loss. The basis difference attributable to the land will be recognized upon disposition of our investment.

Below is a summary of Lexington's latest available financial information:

(Amounts in thousands)		Balance as of
Balance Sheet:		December 31, 2010		September 30, 2010
	Assets	$	3,335,000	$	3,385,000
	Liabilities		1,979,000		2,115,000
	Noncontrolling interests		76,000		71,000
	Shareholders’ equity		1,280,000		1,199,000

		For the Three Months Ended
Income Statement:		December 31, 2010		December 31, 2009
	Total revenues	$	86,000	$	86,000
	Net income (loss) attributable to Lexington		12,000		(46,000)

LNR Property LLC (“LNR”)

As of March 31, 2011, we own a 26.2% equity interest in LNR, which we acquired in July 2010. We account for our investment in LNR under the equity method and record our 26.2% share of LNR's net income or loss on a one-quarter lag basis because we file our consolidated financial statements on Form 10-K and 10-Q prior to receiving LNR's consolidated financial statements.

LNR consolidates certain commercial mortgage-backed securities (“CMBS”) and Collateralized Debt Obligation (“CDO”) trusts for which it is the primary beneficiary. The assets of these trusts (primarily commercial mortgage loans), which aggregate approximately $142 billion as of December 31, 2010, are the sole source of repayment of the related liabilities, which are non-recourse to LNR and its equity holders, including us. Changes in the fair value of these assets each period are offset by changes in the fair value of the related liabilities through LNR's consolidated income statement. As of March 31, 2011, the carrying amount of our investment in LNR does not materially differ from our share of LNR's equity.

(Amounts in thousands)		Balance as of
Balance Sheet:		December 31, 2010
	Assets		$	143,327,000
	Liabilities			142,723,000
	Noncontrolling interests			34,000
	LNR equity			570,000

		For the Three Months Ended
Income Statement:		December 31, 2010
	Total revenues		$	36,000
	Net income attributable to LNR			58,000

280 Park Avenue Mezzanine Loans Joint Venture

On March 16, 2011, we formed a 50/50 joint venture with SL Green Realty Corp (“SL Green”) to own the mezzanine debt of 280 Park Avenue, a 1.2 million square foot office building located between 48th and 49th Streets in Manhattan. We contributed our mezzanine loan with a face amount of $73,750,000 and they contributed their mezzanine loans with a face amount of $326,250,000 to the joint venture. We equalized our interest in the joint venture with SL Green by paying them $111,250,000 in cash and assuming $15,000,000 of their debt position. We account for our 50% interest in the joint venture under the equity method of accounting from the date of contribution.

5. Investments in Partially Owned Entities - continued

Investments in partially owned entities as of March 31, 2011 and December 31, 2010 and income recognized from these investments for the three months ended March 31, 2011 and 2010 are as follows:

			Percentage		Balance as of
(Amounts in thousands)			Ownership as of		March 31,		December 31,
Investments:			March 31, 2011		2011		2010
Toys				32.7%	$	556,189	$	447,334

Alexander’s				32.4%	$	188,280	$	186,811
Partially owned office buildings				(1)		220,050		181,838
280 Park Avenue Mezzanine Loans (see page 12)				50%		185,131		-
LNR				26.2%		148,227		132,973
India real estate ventures				4%-36.5%		94,077		127,193
Lexington				12.6%		57,434		57,270
Other equity method investments				(2)		223,095		241,587
					$	1,116,294	$	927,672

					For the Three Months
					Ended March 31,
Our Share of Net Income (Loss):					2011		2010
Toys – 32.7% share of:
	Equity in net income before income taxes				$	179,839	$	173,550
	Income tax expense					(69,018)		(49,710)
	Equity in net income					110,821		123,840
	Interest and other income					2,123		2,030
					$	112,944	$	125,870

Alexander’s – 32.4% share of:
	Equity in net income				$	5,719	$	3,777
	Management, leasing and development fees					2,292		2,683
						8,011		6,460

Lexington – 12.6% share in 2011 and 13.9% share in 2010 of
	equity in net income⁽³⁾					2,172		6,045

LNR – 26.2% share of equity in net income (acquired in July 2010)⁽⁴⁾						15,254		-

India real estate ventures – 4% to 36.5% range in our
	share of equity in net (loss) income					(207)		1,651

Other, net (including partially owned office buildings)⁽⁵⁾						(8,946)		(2,812)
					$	16,284	$	11,344
___________________________________
(1)		Includes interests in 330 Madison Avenue (25%), One Park Avenue (30.3%), 825 Seventh Avenue (50%), Warner Building and 1101 17th Street (55%), Fairfax Square (20%), Kaempfer equity interests in three office buildings (2.5% to 5.0%), Rosslyn Plaza (46%) and West 57th Street properties (50%).

(2)		Includes interests in Monmouth Mall, Verde Realty Operating Partnership, 85 10th Avenue Associates and redevelopment ventures, including Harlem Park and Farley.

(3)		The three months ended March 31, 2011 and 2010 include $1,452 and $5,998, respectively, of net gains resulting from Lexington's stock issuances.

(4)		Includes $8,977 for our share of a tax settlement gain.

(5)		2011 includes $9,022 for our share of expense, primarily for straight-line rent reserves and the write-off of tenant improvements in connection with a tenant's bankruptcy at the Warner Building.

5. Investments in Partially Owned Entities – continued

Below is a summary of the debt of our partially owned entities as of March 31, 2011 and December 31, 2010, none of which is recourse to us.

				Interest	100% of
				Rate at	Partially Owned Entities’ Debt at
(Amounts in thousands)				March 31,	March 31,		December 31,
			Maturity	2011	2011		2010
Toys (32.7% interest) (as of January 29, 2011 and October 30, 2010,
respectively):
	Senior unsecured notes (Face value – $950,000)		07/17	10.75%	$	928,597	$	928,045
	Senior unsecured notes (Face value – $725,000)		12/17	8.50%		715,821		715,577
	$700 million secured term loan facility		09/16	6.00%		688,357		689,757
	Senior U.K. real estate facility		04/13	5.02%		554,621		561,559
	7.625% bonds (Face value – $500,000)		08/11	8.82%		497,349		495,943
	7.875% senior notes (Face value – $400,000)		04/13	9.50%		387,459		386,167
	7.375% senior secured notes (Face value – $350,000)		09/16	7.38%		348,219		350,000
	7.375% senior notes (Face value – $400,000)		10/18	9.99%		344,734		343,528
	Japan bank loans		03/12-01/16	2.45%-2.85%		177,511		180,500
	Spanish real estate facility		02/13	4.51%		175,186		179,511
	Japan borrowings		06/13	0.81%		17,080		141,360
	Junior U.K. real estate facility		04/13	6.81%-7.84%		96,921		98,266
	French real estate facility		02/13	4.51%		84,291		86,599
	8.750% debentures (Face value – $21,600)		09/21	9.17%		21,063		21,054
	$1.85 billion credit facility		08/15	-		-		519,810
	European and Australian asset-based revolving credit facility		10/12	-		-		25,767
	Other		Various	Various		176,137		156,853
						5,213,346		5,880,296

Alexander’s (32.4% interest):
	731 Lexington Avenue mortgage note payable, collateralized by
		the office space (prepayable without penalty after 12/13)	02/14	5.33%		348,781		351,751
	731 Lexington Avenue mortgage note payable, collateralized by
		the retail space (prepayable without penalty after 12/13)	07/15	4.93%		320,000		320,000
	Rego Park construction loan payable		12/11	1.50%		277,200		277,200
	Kings Plaza Regional Shopping Center mortgage note payable		06/11	7.46%		150,375		151,214
	Rego Park mortgage note payable (prepayable without penalty)		03/12	0.75%		78,246		78,246
	Paramus mortgage note payable (prepayable without penalty)		10/11	5.92%		68,000		68,000
						1,242,602		1,246,411

Lexington (12.6% interest) (as of December 31, 2010 and
September 30, 2010, respectively):
	Mortgage loans collateralized by Lexington’s real estate (various
		prepayment terms)	2011-2037	5.82%		1,792,761		1,927,729

LNR (26.2% interest) (as of December 31, 2010 and
September 30, 2010):
	Mortgage notes payable		2011-2043	5.75%		366,069		508,547
	Liabilities of consolidated CMBS and CDO trusts		n/a	6.06%		142,197,352		142,001,333
						142,563,421		142,509,880

5. Investments in Partially Owned Entities - continued

				Interest	100% of
				Rate at	Partially Owned Entities’ Debt at
(Amounts in thousands)				March 31,	March 31,		December 31,
			Maturity	2011	2011		2010
Partially owned office buildings:
	One Park Avenue (30.3% interest) mortgage note payable		03/16	5.00%	$	250,000	$	-
	Warner Building (55% interest) mortgage note payable		05/16	6.26%		292,700		292,700
	330 Madison Avenue (25% interest) mortgage note payable		06/15	1.81%		150,000		150,000
	Kaempfer Properties (2.5% and 5.0% interests in two partnerships)
		mortgage notes payable, collateralized by the partnerships’ real estate	11/11-12/11	5.86%		138,705		139,337
	Fairfax Square (20% interest) mortgage note payable (prepayable
		without penalty after 07/14)	12/14	7.00%		71,571		71,764
	Rosslyn Plaza (46% interest) mortgage note payable		12/11	1.30%		56,680		56,680
	330 West 34th Street (34.8% interest) mortgage note payable,
		collateralized by land	07/22	5.71%		50,150		50,150
	West 57th Street (50% interest) mortgage note payable (prepayable
		without penalty)	02/14	4.94%		22,720		22,922
	825 Seventh Avenue (50% interest) mortgage note payable (prepayable
		without penalty after 04/14)	10/14	8.07%		20,447		20,565
India Real Estate Ventures:
	TCG Urban Infrastructure Holdings (25% interest) mortgage notes
		payable, collateralized by the entity’s real estate (various
		prepayment terms)	2011-2022	13.88%		202,029		196,319
Other:
	Verde Realty Operating Partnership (8.3% interest) mortgage notes
		payable, collateralized by the partnerships’ real estate (various
		prepayment terms)	2011-2025	5.91%		564,270		581,086
	Green Courte Real Estate Partners, LLC (8.3% interest) (as of
		December 31, 2010 and September 30, 2010), mortgage notes
		payable, collateralized by the partnerships’ real estate (various
		prepayment terms)	2011-2018	5.50%		296,991		296,991
	Waterfront Associates (2.5% interest) up to $250 million construction
		and land loan payable	09/11	2.26% - 3.76%		219,442		217,106
	Monmouth Mall (50% interest) mortgage note payable (prepayable
		without penalty after 07/15)	09/15	5.44%		163,917		164,474
	Wells/Kinzie Garage (50% interest) mortgage note payable		12/17	5.00%		14,977		15,022
	Orleans Hubbard Garage (50% interest) mortgage note payable		12/17	5.00%		9,480		9,508
	Other		Various	5.39%		417,553		418,339

Based on our ownership interest in the partially owned entities above, our pro rata share of the debt of these partially owned entities was $40,260,412,000 and $40,443,346,000 as of March 31, 2011 and December 31, 2010, respectively. Excluding our pro rata share of LNR's liabilities related to consolidated CMBS and CDO trusts which are non-recourse to LNR and its equity holders, including us, our pro rata share of partially owned entities debt is $3,041,677,000 and $3,275,917,000 at March 31, 2011 and December 31, 2010, respectively.

Mezzanine Loans Receivable

3 Months Ended

Mar. 31, 2011

Mezzanine Loans Receivable [Abstract]

Mezzanine Loans Receivable

6. Mezzanine Loans Receivable

On March 2, 2011, we sold our mezzanine loan in the Tharaldson Lodging Companies for $70,848,000 in cash, which had a carrying amount of $60,416,000 and recognized a net gain of $10,474,000. The gain is included as a component of “interest and other investment income, net” on our consolidated statement of income.

In the first quarter of 2011, we recognized $72,270,000 of income, representing the difference between the fair value of our 280 Park Avenue Mezzanine Loan of $73,750,000, and its carrying amount of $1,480,000. The $72,270,000 of income, which is included in “interest and other investment income, net” on our consolidated statement of income, is comprised of $63,145,000 from the reversal of the loan loss reserve and $9,125,000 of previously unrecognized interest income. Our decision to reverse the loan loss reserve was based on the increase in value of the underlying collateral. On March 16, 2011, we contributed this mezzanine loan to a 50/50 joint venture with SL Green Realty Corp (see Note 5 – Investments in Partially Owned Entities).

As of March 31, 2011 and December 31, 2010, the carrying amount of mezzanine loans receivable was $140,567,000 and $202,412,000, respectively, net of allowances of $0 and $73,216,000, respectively.

Discontinued Operations

3 Months Ended

Mar. 31, 2011

Discontinued Operations [Abstract]

Discontinued Operations

7. Discontinued Operations

On March 31, 2011, the receiver completed the disposition of the High Point Complex in North Carolina. In connection therewith, the property and related debt were removed from our consolidated balance sheet and we recognized a net gain of $83,907,000 on the extinguishment of debt.

In the first quarter of 2011, we sold (i) 1140 Connecticut Avenue and 1227 25th Street for $127,000,000 in cash, which resulted in a $45,862,000 net gain, and (ii) two retail properties in separate transactions for an aggregate of $38,711,000 in cash, which resulted in net gains aggregating $5,303,000.

The tables below set forth the assets and liabilities related to discontinued operations at March 31, 2011 and December 31, 2010, and their combined results of operations for the three months ended March 31, 2011 and 2010.

	Assets Related to				Liabilities Related to
(Amounts in thousands)	Discontinued Operations as of				Discontinued Operations as of
	March 31,		December 31,		March 31,		December 31,
	2011		2010		2011		2010
High Point	$	-	$	154,563	$	-	$	236,974
1227 25th Street		-		43,630		-		-
1140 Connecticut Avenue		-		36,271		-		18,948
Total	$	-	$	234,464	$	-	$	255,922


					For The Three Months
(Amounts in thousands)					Ended March 31,
					2011		2010
Total revenues					$	5,987	$	11,021
Total expenses						6,744		10,535
						(757)		486
Net gain on extinguishment of High Point debt						83,907		-
Net gain on sale of 1140 Connecticut Avenue and 1227 25th Street						45,862		-
Net gain on sales of other real estate						5,303		-
Litigation loss accrual						-		(10,056)
Income (loss) from discontinued operations					$	134,315	$	(9,570)

Identified Intangible Assets and Liabilities

3 Months Ended

Mar. 31, 2011

Identified Intangible Assets and Liabilities [Abstract]

Identified Intangible Assets and Intangible Liabilities

8. Identified Intangible Assets and Liabilities

The following summarizes our identified intangible assets (primarily acquired above-market leases) and liabilities (primarily acquired below-market leases) as of March 31, 2011 and December 31, 2010.

	Balance as of
	March 31,		December 31,
(Amounts in thousands)	2011		2010
Identified intangible assets:
Gross amount	$	683,374	$	687,253
Accumulated amortization		(350,104)		(338,508)
Net	$	333,270	$	348,745
Identified intangible liabilities (included in deferred credit):
Gross amount	$	883,451	$	870,623
Accumulated amortization		(358,794)		(341,718)
Net	$	524,657	$	528,905

Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental income of $16,759,000 and $15,771,000 for the three months ended March 31, 2011 and 2010, respectively. Estimated annual amortization of acquired below-market leases, net of acquired above-market leases, for each of the five succeeding years commencing January 1, 2012 is as follows:

(Amounts in thousands)
2012	$	52,016
2013		44,087
2014		38,236
2015		35,472
2016		32,093

Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $14,262,000 and $14,853,000 for the three months ended March 31, 2011 and 2010, respectively. Estimated annual amortization of all other identified intangible assets including acquired in-place leases, customer relationships, and third party contracts for each of the five succeeding years commencing January 1, 2012 is as follows:

(Amounts in thousands)
2012	$	44,777
2013		37,281
2014		18,885
2015		13,929
2016		11,325

We are a tenant under ground leases for certain properties. Amortization of these acquired below-market leases, net of above-market leases resulted in an increase to rent expense of $314,000 and $509,000 for the three months ended March 31, 2011 and 2010, respectively. Estimated annual amortization of these below-market leases, net of above-market leases, for each of the five succeeding years commencing January 1, 2012 is as follows:

(Amounts in thousands)
2012	$	1,256
2013		1,256
2014		1,256
2015		1,256
2016		1,256

Debt

3 Months Ended

Mar. 31, 2011

Debt [Abstract]

Debt

9. Debt

The following is a summary of our debt:

				Interest
(Amounts in thousands)				Rate at	Balance at
				March 31,	March 31,		December 31,
Notes and mortgages payable:			Maturity (1)	2011	2011		2010
Fixed rate:
	New York Office:
		350 Park Avenue	01/12	5.48%	$	430,000	$	430,000
		Two Penn Plaza⁽²⁾	03/18	5.13%		425,000		277,347
		1290 Avenue of the Americas	01/13	5.97%		421,345		424,136
		770 Broadway	03/16	5.65%		353,000		353,000
		888 Seventh Avenue	01/16	5.71%		318,554		318,554
		909 Third Avenue	04/15	5.64%		206,069		207,045
		Eleven Penn Plaza	12/11	5.20%		198,282		199,320

	Washington, DC Office:
		Skyline Place	02/17	5.74%		678,000		678,000
		River House Apartments	04/15	5.43%		195,546		195,546
		2121 Crystal Drive⁽³⁾	03/23	5.51%		150,000		-
		Bowen Building	06/16	6.14%		115,022		115,022
		1215 Clark Street, 200 12th Street and 251 18th Street	01/25	7.09%		110,509		110,931
		Universal Buildings	04/14	6.38%		102,119		103,049
		Reston Executive I, II, and III	01/13	5.57%		93,000		93,000
		2011 Crystal Drive	08/17	7.30%		81,221		81,362
		1550 and 1750 Crystal Drive	11/14	7.08%		78,782		79,411
		220 20th Street⁽⁴⁾	02/18	4.61%		75,982		-
		1235 Clark Street	07/12	6.75%		52,057		52,314
		2231 Crystal Drive	08/13	7.08%		45,790		46,358
		1750 Pennsylvania Avenue	06/12	7.26%		44,926		45,132
		1225 Clark Street	08/13	7.08%		27,389		27,616
		1800, 1851 and 1901 South Bell Street	12/11	6.91%		7,658		10,099

	Retail:
		Cross-collateralized mortgages on 40 strip shopping centers	09/20	4.19%		594,247		597,138
		Montehiedra Town Center	07/16	6.04%		120,000		120,000
		Broadway Mall	07/13	5.30%		89,598		90,227
		828-850 Madison Avenue Condominium	06/18	5.29%		80,000		80,000
		North Bergen (Tonnelle Avenue)⁽⁵⁾	01/18	4.59%		75,000		-
		Las Catalinas Mall	11/13	6.97%		57,328		57,737
		510 5th Avenue	01/16	5.60%		32,071		32,189
		Other	03/12-05/36	5.10%-7.33%		100,870		101,251

	Merchandise Mart:
		Merchandise Mart	12/16	5.57%		550,000		550,000
		Boston Design Center	09/15	5.02%		68,235		68,538
		Washington Design Center	11/11	6.95%		43,227		43,447

	Other:
		555 California Street	09/11	5.79%		641,551		640,911
		Borgata Land⁽⁶⁾	02/21	5.14%		60,000		-
		Industrial Warehouses	10/11	6.95%		24,271		24,358
Total fixed rate notes and mortgages payable				5.61%	$	6,746,649	$	6,253,038
___________________
		See notes on page 20.

9. Debt - continued

					Interest
(Amounts in thousands)					Rate at	Balance at
				Spread over	March 31,	March 31,		December 31,
Notes and mortgages payable:			Maturity (1)	LIBOR	2011	2011		2010
Variable rate:
	New York Office:
		Manhattan Mall	02/12	L+55	0.82%	$	232,000	$	232,000
		866 UN Plaza	05/11	L+40	0.71%		44,978		44,978
	Washington, DC Office:
		2101 L Street	02/13	L+120	1.45%		150,000		150,000
		West End 25 (construction loan)⁽⁷⁾	08/11	n/a⁽⁷⁾	2.75%		78,554		95,220
		River House Apartments	04/18	n/a⁽⁸⁾	1.62%		64,000		64,000
		2200/2300 Clarendon Boulevard	01/15	L+75	1.01%		57,802		59,278
		1730 M and 1150 17th Street	06/14	L+140	1.66%		43,580		43,581
		220 20th Street⁽⁴⁾	n/a	n/a	n/a		-		83,573
	Retail:
		Green Acres Mall	02/13	L+140	1.75%		325,045		335,000
		Bergen Town Center (construction loan)	03/13	L+150	1.79%		279,044		279,044
		San Jose Strip Center	03/13	L+400	4.32%		118,285		120,863
		Beverly Connection⁽⁹⁾	07/12	L+350⁽⁹⁾	5.00%		100,000		100,000
		4 Union Square South	04/14	L+325	3.56%		75,000		75,000
		Cross-collateralized mortgages on 40 strip
		shopping centers⁽¹⁰⁾	09/20	L+136⁽¹⁰⁾	2.36%		60,000		60,000
		435 Seventh Avenue⁽¹¹⁾	08/14	L+300⁽¹¹⁾	5.00%		51,725		51,844
		Other	11/12	L+375	4.02%		22,108		21,862
	Other:
		220 Central Park South	10/11	L+235–L+245	2.65%		123,750		123,750
		Other	11/11	L+250	2.80%		22,400		66,267
	Total variable rate notes and mortgages payable				2.23%		1,848,271		2,006,260
	Total notes and mortgages payable				4.88%	$	8,594,920	$	8,259,298

Senior unsecured notes:
	Senior unsecured notes due 2015		04/15		4.25%	$	499,338	$	499,296
	Senior unsecured notes due 2039⁽¹²⁾		10/39		7.88%		460,000		460,000
	Floating rate senior unsecured notes due 2011		12/11	L+200	2.30%		23,250		23,250
	Senior unsecured notes due 2011		n/a		n/a		-		100,382
	Total senior unsecured notes				5.90%	$	982,588	$	1,082,928

3.88% exchangeable senior debentures due 2025
	(see page 21)		04/12		5.32%	$	492,690	$	491,000

Convertible senior debentures: (see page 21)
	3.63% due 2026		11/11		5.32%	$	177,221	$	176,499
	2.85% due 2027		04/12		5.45%		9,977		9,914
	Total convertible senior debentures ⁽¹³⁾				5.33%	$	187,198	$	186,413

Unsecured revolving credit facilities:
	$1.595 billion unsecured revolving credit facility		09/12	L+55	0.79%	$	324,000	$	669,000
	$1.000 billion unsecured revolving credit facility
		($12,423 reserved for outstanding letters of credit)	06/11	L+55	0.79%		50,000		205,000
	Total unsecured revolving credit facilities				0.79%	$	374,000	$	874,000
___________________________
	See notes on the following page.

9. Debt - continued

	Notes to preceding tabular information (Amounts in thousands):

	(1)	Represents the extended maturity for certain loans in which we have the unilateral right, ability and intent to extend. In the case of our convertible and exchangeable debt, represents the earliest date holders may require us to repurchase the debentures.

	(2)	On February 11, 2011, we completed a $425,000 refinancing of this loan. The seven-year loan bears interest at LIBOR plus 2.00%, which was swapped for the term of the loan to a fixed rate of 5.13%. The loan amortizes based on a 30-year schedule beginning in the fourth year. We retained net proceeds of approximately $139,000, after repaying the existing loan and closing costs.

	(3)	On February 10, 2011, we completed a $150,000 financing of this property. The 12-year fixed rate loan bears interest at 5.51% and amortizes based on a 30-year schedule beginning in the third year. This property was previously unencumbered.

	(4)	On January 18, 2011, we repaid the outstanding balance of the construction loan on this property and closed on a new $76,100 mortgage financing at a fixed rate of 4.61%. The new loan has a seven-year term and amortizes based on a 30-year schedule.

	(5)	On January 10, 2011, we completed a $75,000 financing on this property. The seven-year fixed rate loan bears interest at 4.59% and amortizes based on a 25-year schedule beginning in the sixth year. This property was previously unencumbered.

	(6)	In January 2011, we completed a $60,000 financing of this property. The 10-year fixed rate loan bears interest at 5.14% and amortizes based on a 30-year schedule beginning in the third year.

	(7)	In February 2011, we repaid a portion of this loan and extended the maturity to August 2011. This loan bears interest at the prime rate minus 0.50%.

	(8)	This loan bears interest at the Freddie Mac Reference Note Rate plus 1.53%.

	(9)	This loan has a LIBOR floor of 1.50%. The spread over LIBOR increases from 3.50% currently to 5.00% in July 2011.

	(10)	This loan has a LIBOR floor of 1.00%.

	(11)	This loan has a LIBOR floor of 2.00%.

	(12)	These notes may be redeemed at our option in whole or in part beginning on October 1, 2014, at a price equal to the principal amount plus accrued interest.

	(13)	The net proceeds from the offering of these debentures were contributed to the Operating Partnership in the form of an inter-company loan and the Operating Partnership fully and unconditionally guaranteed payment of these debentures. There are no restrictions which limit the Operating Partnership from making distributions to Vornado and Vornado has virtually no independent assets or operations outside of the Operating Partnership.

9. Debt – continued

Pursuant to the provisions of Accounting Standards Codification (“ASC”) 470-20, Debt with Conversion and Other Options, below is a summary of required disclosures related to our convertible and exchangeable senior debentures.

			2.85% Convertible				3.63% Convertible				3.88% Exchangeable
(Amounts in thousands, except per share amounts)			Senior Debentures due 2027				Senior Debentures due 2026				Senior Debentures due 2025
			March 31,		December 31,		March 31,		December 31,		March 31,		December 31,
Balance Sheet:			2011		2010		2011		2010		2011		2010
	Principal amount of debt component		$	10,233	$	10,233	$	179,052	$	179,052	$	499,982	$	499,982
	Unamortized discount			(256)		(319)		(1,831)		(2,553)		(7,292)		(8,982)
	Carrying amount of debt component		$	9,977	$	9,914	$	177,221	$	176,499	$	492,690	$	491,000
	Carrying amount of equity component		$	956	$	956	$	9,604	$	9,604	$	32,301	$	32,301
	Effective interest rate			5.45%		5.45%		5.32%		5.32%		5.32%		5.32%
	Maturity date (period through which
		discount is being amortized)		4/1/12				11/15/11				4/15/12
	Conversion price per share, as adjusted		$	157.18			$	148.46			$	87.17
	Number of shares on which the
		aggregate consideration to be
		delivered upon conversion is
		determined		-⁽¹⁾				-⁽¹⁾				5,736
__________________

(1)		Our convertible senior debentures require that upon conversion, the entire principal amount is to be settled in cash, and at our option, any excess value above the principal amount may be settled in cash or common shares. Based on the March 31, 2011 closing share price of our common shares and the conversion prices in the table above, there was no excess value; accordingly, no common shares would be issued if these securities were settled on this date. The number of common shares on which the aggregate consideration that would be delivered upon conversion is 65 and 1,206 common shares, respectively.

		For the Three Months Ended
(Amounts in thousands)		March 31,
Income Statement:		2011		2010
2.85% Convertible Senior Debentures due 2027:
	Coupon interest	$	73	$	160
	Discount amortization – original issue		11		23
	Discount amortization – ASC 470-20 implementation		52		106
		$	136	$	289

3.63% Convertible Senior Debentures due 2026:
	Coupon interest	$	1,623	$	3,963
	Discount amortization – original issue		196		455
	Discount amortization – ASC 470-20 implementation		526		1,219
		$	2,345	$	5,637

3.88% Exchangeable Senior Debentures due 2025:
	Coupon interest	$	4,844	$	4,844
	Discount amortization – original issue		399		379
	Discount amortization – ASC 470-20 implementation		1,291		1,225
		$	6,534	$	6,448

Redeemable Noncontrolling Interests

3 Months Ended

Mar. 31, 2011

Redeemable Noncontrolling Interests [Abstract]

Redeemable Noncontrolling Interests

10. Redeemable Noncontrolling Interests

Redeemable noncontrolling interests on our consolidated balance sheets represent Operating Partnership units held by third parties and are comprised of Class A units and Series D-10, D-11, D-14, D-15 and D-16 (collectively, “Series D”) cumulative redeemable preferred units. Redeemable noncontrolling interests on our consolidated balance sheets are recorded at the greater of their carrying amount or redemption value at the end of each reporting period. Changes in the value from period to period are charged to “additional capital” in our consolidated statements of changes in equity. Below is a table summarizing the activity of redeemable noncontrolling interests.

(Amounts in thousands)
Balance at December 31, 2009	$	1,251,628
Net income		17,779
Distributions		(13,082)
Conversion of Class A units into common shares, at redemption value		(18,128)
Adjustments to carry redeemable Class A units at redemption value		104,247
Redemption of Series D-12 redeemable units		(4,000)
Other, net		1,304
Balance at March 31, 2010	$	1,339,748


Balance at December 31, 2010	$	1,327,974
Net income		31,808
Distributions		(12,702)
Conversion of Class A units into common shares, at redemption value		(27,539)
Adjustments to carry redeemable Class A units at redemption value		42,227
Other, net		4,752
Balance at March 31, 2011	$	1,366,520

As of March 31, 2011 and December 31, 2010, the aggregate redemption value of redeemable Class A units was $1,105,520,000 and $1,066,974,000, respectively.

Redeemable noncontrolling interests exclude our Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units, as they are accounted for as liabilities in accordance with ASC 480, Distinguishing Liabilities and Equity, because of their possible settlement by issuing a variable number of Vornado common shares. Accordingly the fair value of these units is included as a component of “other liabilities” on our consolidated balance sheets and aggregated $55,097,000 as of March 31, 2011 and December 31, 2010.

In March 2010, we redeemed 246,153 Series D-12 cumulative redeemable preferred units for $16.25 per unit in cash, or $4,000,000 in the aggregate. In connection therewith, we recognized a $2,154,000 net gain which is included as a component of “net income attributable to noncontrolling interests in the Operating Partnership, including unit distributions,” on our consolidated statement of income for the three months ended March 31, 2010.

Shareholders Equity

3 Months Ended

Mar. 31, 2011

Shareholders' Equity [Abstract]

Stockholders Equity Note Disclosure Text Block

11. Shareholders' Equity

On April 20, 2011, we sold 7,000,000 6.875% Series J Cumulative Redeemable Preferred Shares at a price of $25.00 per share, or $175,000,000 in the aggregate, in an underwritten public offering pursuant to an effective registration statement. On April 21, 2011, the underwriters exercised their option to purchase an additional 1,050,000 shares to cover over-allotments. We retained aggregate net proceeds of $194,736,000, after underwriters' discounts and issuance costs and contributed the net proceeds to the Operating Partnership in exchange for 8,050,000 Series J Preferred Units (with economic terms that mirror those of the Series J Preferred Shares). Dividends on the Series J Preferred Shares are cumulative and payable quarterly in arrears. The Series J Preferred Shares are not convertible into, or exchangeable for, any of our properties or securities. On or after April 20, 2016 (or sooner under limited circumstances), we, at our option, may redeem the Series J Preferred Shares at a redemption price of $25.00 per share, plus accrued and unpaid dividends through the date of redemption. The Series J Preferred Shares have no maturity date and will remain outstanding indefinitely unless redeemed by us.

Fair Value Measurements

3 Months Ended

Mar. 31, 2011

Fair Value Measurements [Abstract]

Fair Value Measurements

12. Fair Value Measurements

ASC 820, Fair Value Measurement and Disclosures defines fair value and establishes a framework for measuring fair value. The objective of fair value is to determine the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 – quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 – observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 – unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment is necessary to interpret Level 2 and 3 inputs in determining the fair value of our financial and non-financial assets and liabilities. Accordingly, our fair value estimates, which are made at the end of each reporting period, may be different than the amounts that may ultimately be realized upon sale or disposition of these assets.

Financial Assets and Liabilities Measured at Fair Value

Financial assets and liabilities that are measured at fair value in our consolidated financial statements consist of (i) marketable securities, (ii) derivative positions in marketable equity securities, (iii) the assets of our deferred compensation plan, which are primarily marketable equity securities and equity investments in limited partnerships, (iv) Real Estate Fund investments, and (v) mandatorily redeemable instruments (Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units). The tables below aggregate the fair values of financial assets and liabilities by the levels in the fair value hierarchy at March 31, 2011 and December 31, 2010, respectively.

			As of March 31, 2011
(Amounts in thousands)			Total		Level 1		Level 2		Level 3
	Marketable securities		$	821,920	$	821,920	$	-	$	-
	Real Estate Fund investments (75% of which is attributable to
		noncontrolling interests)		230,657		-		-		230,657
	Deferred compensation plan assets (included in other assets)			97,951		46,339		-		51,612
	Derivative positions in marketable equity securities			34,779		-		34,779		-
		Total assets	$	1,185,307	$	868,259	$	34,779	$	282,269

	Mandatorily redeemable instruments (included in other liabilities)		$	55,097	$	55,097	$	-	$	-

			As of December 31, 2010
(Amounts in thousands)			Total		Level 1		Level 2		Level 3
	Marketable securities		$	766,116	$	766,116	$	-	$	-
	Real Estate Fund investments (75% of which is attributable to
		noncontrolling interests)		144,423		-		-		144,423
	Deferred compensation plan assets (included in other assets)			91,549		43,699		-		47,850
	Derivative positions in marketable equity securities			17,616		-		17,616		-
		Total assets	$	1,019,704	$	809,815	$	17,616	$	192,273

	Mandatorily redeemable instruments (included in other liabilities)		$	55,097	$	55,097	$	-	$	-

12. Fair Value Measurements - continued

Financial Assets and Liabilities Measured at Fair Value - continued

The tables below summarize the changes in the fair value of the Level 3 assets above, by category, for the three months ended March 31, 2011 and 2010.

Real Estate Fund Investments:
	For the Three Months Ended March 31,
(Amounts in thousands)	2011		2010
Beginning balance	$	144,423	$	-
Purchases		100,238		-
Realized and unrealized gains		698		-
Other, net		(14,702)		-
Ending balance	$	230,657	$	-


Deferred Compensation Plan Assets:
	For the Three Months Ended March 31,
(Amounts in thousands)	2011		2010
Beginning balance	$	47,850	$	39,589
Purchases		1,286		3,132
Realized and unrealized gains		3,623		1,108
Other, net		(1,147)		(566)
Ending balance	$	51,612	$	43,263

Financial Assets and Liabilities not Measured at Fair Value

Financial assets and liabilities that are not measured at fair value in our consolidated financial statements include mezzanine loans receivable and debt. Estimates of the fair values of these instruments are based on our assessments of available market information and valuation methodologies, including discounted cash flow analyses. The table below summarizes the carrying amounts and fair values of these financial instruments as of March 31, 2011 and December 31, 2010.

			As of March 31, 2011				As of December 31, 2010
			Carrying		Fair		Carrying		Fair
(Amounts in thousands)			Amount		Value		Amount		Value
	Mezzanine loans receivable		$	140,567	$	135,330	$	202,412	$	197,581
	Debt:
		Notes and mortgages payable	$	8,594,920	$	8,857,040	$	8,259,298	$	8,450,812
		Senior unsecured notes		982,588		1,033,680		1,082,928		1,119,512
		Exchangeable senior debentures		492,690		558,105		491,000		554,355
		Convertible senior debentures		187,198		191,958		186,413		191,510
		Revolving credit facility debt		374,000		374,000		874,000		874,000
			$	10,631,396	$	11,014,783	$	10,893,639	$	11,190,189

Stock-based Compensation

3 Months Ended

Mar. 31, 2011

Stock-based Compensation [Abstract]

Stock-based Compensation

13. Stock-based Compensation

Our Share Option Plan (the “Plan”) provides for grants of incentive and non-qualified stock options, restricted stock, restricted Operating Partnership units and out-performance plan rewards to certain of our employees and officers. We account for all stock-based compensation in accordance ASC 718, Compensation – Stock Compensation. Stock-based compensation expense for the three months ended March 31, 2011 and 2010 consists of stock option awards, restricted stock awards, Operating Partnership unit awards and out-performance plan awards. In the three months ended March 31, 2011 and 2010, we recognized $7,146,000 and $6,477,000 of stock-based compensation expense, respectively.

Fee and Other Income

3 Months Ended

Mar. 31, 2011

Fee and Other Income [Abstract]

Fee and Other Income

14. Fee and Other Income

The following table sets forth the details of our fee and other income:

	For the Three Months
(Amounts in thousands)	Ended March 31,
	2011		2010
Tenant cleaning fees	$	15,423	$	13,652
Management and leasing fees		4,106		9,140
Lease termination fees		1,176		4,970
Other income		13,588		13,165
	$	34,293	$	40,927

Fee and other income above includes management fee income from Interstate Properties, a related party, of $197,000 and $200,000 for the three months ended March 31, 2011 and 2010, respectively. The above table excludes fee income from partially owned entities which is included in income from partially owned entities (see Note 5 – Investments in Partially Owned Entities).

Interest and Other Investment Income (Loss), Net

3 Months Ended

Mar. 31, 2011

Interest and Other Investment (Loss) Income, net [Abstract]

Interest and Other Investment Income (Loss), Net

15. Interest and Other Investment Income, Net

The following table sets forth the details of our interest and other investment income:

		For the Three Months
(Amounts in thousands)		Ended March 31,
		2011		2010
Mezzanine loans loss reversal and net gain on disposition		$	82,744	$	-
Income from the mark-to-market of J.C. Penney derivative position			17,163		-
Dividends and interest on marketable securities			7,667		7,245
Mark-to-market of investments in our deferred compensation plan⁽¹⁾			4,952		2,763
Interest on mezzanine loans			2,644		2,715
Other, net			1,938		1,981
		$	117,108	$	14,704
__________________________

(1)	This income is entirely offset by the expense resulting from the mark-to-market of the deferred compensation plan liability, which is included in "general and administrative" expense.

Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2011

Comprehensive Income [Abstract]

Comprehensive Income (Loss)

16. Comprehensive Income

	For the Three Months
(Amounts in thousands)	Ended March 31,
	2011		2010
Net income	$	445,821	$	232,544
Other comprehensive income		57,161		1,504
Comprehensive income		502,982		234,048
Less: Comprehensive income attributable to noncontrolling interests		36,759		18,098
Comprehensive income attributable to Vornado	$	466,223	$	215,950

Substantially all of other comprehensive income for the three months ended March 31, 2011 and 2010 relates to income from the mark-to-market of marketable securities classified as available-for-sale and our share of other comprehensive income or loss of partially owned entities.

Income Per Share

3 Months Ended

Mar. 31, 2011

Income Per Share [Abstract]

Income Per Share

17. Income Per Share

The following table provides a reconciliation of both net income and the number of common shares used in the computation of (i) basic income per common share - which utilizes the weighted average number of common shares outstanding without regard to dilutive potential common shares, and (ii) diluted income per common share - which includes the weighted average common shares and potentially dilutive share equivalents. Potentially dilutive share equivalents include our Series A convertible preferred shares, employee stock options, restricted stock and exchangeable senior debentures due 2025.

			For the Three Months
(Amounts in thousands, except per share amounts)			Ended March 31,
			2011		2010
Numerator:
	Income from continuing operations, net of income attributable to noncontrolling interests		$	286,947	$	224,122
	Income (loss) from discontinued operations, net of income attributable to noncontrolling interests			125,716		(9,570)
	Net income attributable to Vornado			412,663		214,552
	Preferred share dividends			(13,448)		(14,267)
	Net income attributable to common shareholders			399,215		200,285
	Earnings allocated to unvested participating securities			(46)		(20)
	Numerator for basic income per share			399,169		200,265
	Impact of assumed conversions:
		Interest on 3.875% exchangeable senior debentures		6,534		-
		Convertible preferred share dividends		32		41
	Numerator for diluted income per share		$	405,735	$	200,306

Denominator:
	Denominator for basic income per share –
		weighted average shares		183,988		181,542
	Effect of dilutive securities^(1):
		3.875% exchangeable senior debentures		5,736		-
		Employee stock options and restricted share awards		1,749		1,831
		Convertible preferred shares		56		72
	Denominator for diluted income per share –
		weighted average shares and assumed conversions		191,529		183,445

INCOME PER COMMON SHARE – BASIC:
	Income from continuing operations, net		$	1.49	$	1.15
	Income (loss) from discontinued operations, net			0.68		(0.05)
	Net income per common share		$	2.17	$	1.10

INCOME PER COMMON SHARE – DILUTED:
	Income from continuing operations, net		$	1.46	$	1.14
	Income (loss) from discontinued operations, net			0.66		(0.05)
	Net income per common share		$	2.12	$	1.09


(1)		The effect of dilutive securities in the three months ended March 31, 2011 and 2010 excludes an aggregate of 12,787 and 21,029 weighted average common share equivalents, respectively, as their effect was anti-dilutive.

Cleveland Medical Mart Development Project

3 Months Ended

Mar. 31, 2011

Cleveland Medical Mart Development Project [Abstract]

Cleveland Medical Mart Development Project

18. Cleveland Medical Mart Development Project

During 2010, two of our wholly owned subsidiaries entered into agreements with Cuyahoga County, Ohio (the “County”) to develop and operate the Cleveland Medical Mart and Convention Center (the “Facility”), a 1,000,000 square foot showroom, trade show and conference center in Cleveland's central business district. The County will fund the development of the Facility, using the proceeds it received from the issuance of general obligation bonds and other sources, up to the development budget of $465,000,000 and maintain effective control of the property. During the 17-year development and operating period, our subsidiaries will receive net settled payments of approximately $10,000,000 per year, which is net of its $36,000,000 annual obligation to the County. Our subsidiaries' obligation has been pledged by the County to the bondholders, but is payable by our subsidiaries only to the extent that they first receive at least an equal payment from the County. Our subsidiaries engaged a contractor to construct the Facility pursuant to a guaranteed maximum price contract; although our subsidiaries are ultimately responsible for cost overruns, the contractor is responsible for all costs incurred in excess of its contract and has provided a completion guaranty. Construction of the Facility is expected to be completed in 2013. Upon completion, our subsidiaries are required to fund $11,500,000, primarily for tenant improvements, and they are responsible for operating expenses and are entitled to the net operating income, if any, of the Facility. The County may terminate the operating agreement five years from the completion of development and periodically thereafter, if our subsidiaries fail to achieve certain performance thresholds.

We account for these agreements using criteria set forth in ASC 605-25, Multiple-Element Arrangements, as our subsidiaries are providing development, marketing, leasing, and other property management related services over the 17-year term. We recognize development fees using the percentage of completion method of accounting. In the first quarter of 2011, we recognized $40,699,000 of revenue, of which $38,278,000 is offset by development costs expensed in the quarter.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2011

Commitments and Contingencies [Abstract]

Commitments and Contingencies

19. Commitments and Contingencies

Insurance

We maintain general liability insurance with limits of $300,000,000 per occurrence and all risk property and rental value insurance with limits of $2.0 billion per occurrence, including coverage for terrorist acts, with sub-limits for certain perils such as floods. Our California properties have earthquake insurance with coverage of $150,000,000 per occurrence, subject to a deductible in the amount of 5% of the value of the affected property, up to a $150,000,000 annual aggregate.

Penn Plaza Insurance Company, LLC (“PPIC”), our wholly owned consolidated subsidiary, acts as a re-insurer with respect to a portion of our earthquake insurance coverage and as a direct insurer for coverage for acts of terrorism, including nuclear, biological, chemical and radiological (“NBCR”) acts, as defined by Terrorism Risk Insurance Program Reauthorization Act. Coverage for acts of terrorism (excluding NBCR acts) is fully reinsured by third party insurance companies and the Federal government with no exposure to PPIC. Our coverage for NBCR losses is up to $2 billion per occurrence, for which PPIC is responsible for a deductible of $3,200,000 and 15% of the balance of a covered loss and the Federal government is responsible for the remaining 85% of a covered loss. We are ultimately responsible for any loss borne by PPIC.

We continue to monitor the state of the insurance market and the scope and costs of coverage for acts of terrorism. However, we cannot anticipate what coverage will be available on commercially reasonable terms in future policy years.

Our debt instruments, consisting of mortgage loans secured by our properties which are non-recourse to us, senior unsecured notes, exchangeable senior debentures, convertible senior debentures and revolving credit agreements contain customary covenants requiring us to maintain insurance. Although we believe that we have adequate insurance coverage for purposes of these agreements, we may not be able to obtain an equivalent amount of coverage at reasonable costs in the future. Further, if lenders insist on greater coverage than we are able to obtain it could adversely affect our ability to finance our properties and expand our portfolio.

19. Commitments and Contingencies – continued

Other Commitments and Contingencies

Our mortgage loans are non-recourse to us. However, in certain cases we have provided guarantees or master leased tenant space. These guarantees and master leases terminate either upon the satisfaction of specified circumstances or repayment of the underlying loans. As of March 31, 2011, the aggregate dollar amount of these guarantees and master leases is approximately $203,250,000.

At March 31, 2011, $12,423,000 of letters of credit were outstanding under one of our revolving credit facilities. Our credit facilities contain financial covenants that require us to maintain minimum interest coverage and maximum debt to market capitalization ratios, and provide for higher interest rates in the event of a decline in our ratings below Baa3/BBB. Our credit facilities also contain customary conditions precedent to borrowing, including representations and warranties, and also contain customary events of default that could give rise to accelerated repayment, including such items as failure to pay interest or principal.

Each of our properties has been subjected to varying degrees of environmental assessment at various times. The environmental assessments did not reveal any material environmental contamination. However, there can be no assurance that the identification of new areas of contamination, changes in the extent or known scope of contamination, the discovery of additional sites, or changes in cleanup requirements would not result in significant costs to us.

We are committed to fund additional capital to certain of our partially owned entities aggregating approximately $195,255,000, of which $141,924,000 is committed to the Fund. In addition, we have agreed in principle to contribute up to $52,000,000 to a new investment management fund which will be managed by LNR.

As part of the process of obtaining the required approvals to demolish and develop our 220 Central Park South property into a new residential tower, we have committed to fund the estimated project cost of approximately $400,000,000 to $425,000,000.

Litigation

We are from time to time involved in legal actions arising in the ordinary course of business. In our opinion, after consultation with legal counsel, the outcome of such matters, including the matters referred to below, are not expected to have a material adverse effect on our financial position, results of operations or cash flows.

On January 8, 2003, Stop & Shop filed a complaint with the United States District Court for the District of New Jersey (“USDC-NJ”) claiming that we had no right to reallocate and therefore continue to collect the $5,000,000 of annual rent from Stop & Shop pursuant to the Master Agreement and Guaranty, because of the expiration of the East Brunswick, Jersey City, Middletown, Union and Woodbridge leases to which the $5,000,000 of additional rent was previously allocated. Stop & Shop asserted that a prior order of the Bankruptcy Court for the Southern District of New York dated February 6, 2001, as modified on appeal to the District Court for the Southern District of New York on February 13, 2001, froze our right to reallocate which effectively terminated our right to collect the additional rent from Stop & Shop. On March 3, 2003, after we moved to dismiss for lack of jurisdiction, Stop & Shop voluntarily withdrew its complaint. On March 26, 2003, Stop & Shop filed a new complaint in New York State Supreme Court, asserting substantially the same claims as in its USDC-NJ complaint. We removed the action to the United States District Court for the Southern District of New York. In January 2005, that court remanded the action to the New York State Supreme Court. On February 14, 2005, we served an answer in which we asserted a counterclaim seeking a judgment for all the unpaid additional rent accruing through the date of the judgment and a declaration that Stop & Shop will continue to be liable for the additional rent as long as any of the leases subject to the Master Agreement and Guaranty remain in effect. On May 17, 2005, we filed a motion for summary judgment. On July 15, 2005, Stop & Shop opposed our motion and filed a cross-motion for summary judgment. On December 13, 2005, the Court issued its decision denying the motions for summary judgment. Both parties appealed the Court's decision and on December 14, 2006, the Appellate Court division issued a decision affirming the Court's decision. On January 16, 2007, we filed a motion for the reconsideration of one aspect of the Appellate Court's decision which was denied on March 13, 2007. A trial was held in November 2010 and closing arguments were held in March 2011. We intend to continue to vigorously pursue our claims against Stop & Shop.

Segment Information

3 Months Ended

Mar. 31, 2011

Segment Information [Abstract]

Segment Information

20. Segment Information

Below is a summary of net income and a reconciliation of net income to EBITDA(1) by segment for the three months ended March 31, 2011 and 2010.


(Amounts in thousands)			For the Three Months Ended March 31, 2011
						New York		Washington, DC				Merchandise
				Total		Office		Office		Retail		Mart		Toys		Other⁽³⁾
Property rentals				$	540,472	$	194,242	$	138,884	$	107,447	$	62,565	$	-	$	37,334
Straight-line rent adjustments					13,929		7,870		(5)		4,181		790		-		1,093
Amortization of acquired below-
		market leases, net			16,759		8,177		466		6,960		17		-		1,139
Total rentals					571,160		210,289		139,345		118,588		63,372		-		39,566
Tenant expense reimbursements					90,959		33,876		9,297		39,331		4,023		-		4,432
Cleveland Medical Mart development
		project			40,699		-		-		-		40,699		-		-
Fee and other income:
	Tenant cleaning fees				15,423		23,430		-		-		-		-		(8,007)
	Management and leasing fees				4,106		1,495		2,885		555		103		-		(932)
	Lease termination fees				1,176		65		1,111		-		-		-		-
	Other				13,588		4,763		5,345		1,407		2,036		-		37
Total revenues					737,111		273,918		157,983		159,881		110,233		-		35,096
Operating expenses					290,773		121,909		48,836		60,680		41,946		-		17,402
Depreciation and amortization					132,227		46,146		33,684		28,541		11,062		-		12,794
General and administrative					59,003		5,364		6,537		8,022		7,598		-		31,482
Cleveland Medical Mart development
	project				38,278		-		-		-		38,278		-		-
Acquisition and other costs					18,270		-		-		15,000		3,040		-		230
Total expenses					538,551		173,419		89,057		112,243		101,924		-		61,908
Operating income (loss)					198,560		100,499		68,926		47,638		8,309		-		(26,812)
Income applicable to Toys					112,944		-		-		-		-		112,944		-
Income (loss) from partially owned
	entities				16,284		1,088		(3,915)		318		76		-		18,717
Income from Real Estate Fund					1,080		-		-		-		-		-		1,080
Interest and other investment
	income, net				117,108		172		32		8		9		-		116,887
Interest and debt expense					(134,765)		(33,086)		(28,926)		(23,069)		(9,338)		-		(40,346)
Net gain on disposition of wholly
	owned and partially owned assets				6,677		-		-		-		-		-		6,677
Income (loss) before income taxes					317,888		68,673		36,117		24,895		(944)		112,944		76,203
Income tax expense					(6,382)		(519)		(738)		(5)		(410)		-		(4,710)
Income (loss) from continuing
	operations				311,506		68,154		35,379		24,890		(1,354)		112,944		71,493
Income from discontinued operations					134,315		-		46,466		5,303		82,546		-		-
Net income					445,821		68,154		81,845		30,193		81,192		112,944		71,493
Net (income) loss attributable to
	noncontrolling interests in
	consolidated subsidiaries				(1,350)		(2,271)		-		155		-		-		766
Net (income) attributable to
	noncontrolling interests in the
	Operating Partnership, including
	unit distributions				(31,808)		-		-		-		-		-		(31,808)
Net income attributable to
	Vornado				412,663		65,883		81,845		30,348		81,192		112,944		40,451
Interest and debt expense⁽²⁾					198,848		31,994		32,221		24,164		12,907		40,135		57,427
Depreciation and amortization⁽²⁾					185,848		45,093		41,899		28,976		11,175		34,673		24,032
Income tax expense (benefit)⁽²⁾					66,828		519		848		5		410		69,018		(3,972)
EBITDA⁽¹⁾				$	864,187	$	143,489	$	156,813	$	83,493	$	105,684	$	256,770	$	117,938


See notes on page 31.

20. Segment Information – continued


(Amounts in thousands)			For the Three Months Ended March 31, 2010
						New York		Washington, DC				Merchandise
				Total		Office		Office		Retail		Mart		Toys		Other⁽³⁾
Property rentals				$	516,623	$	192,604	$	136,826	$	95,107	$	57,657	$	-	$	34,429
Straight-line rent adjustments					20,063		7,794		4,208		6,358		1,102		-		601
Amortization of acquired below-
		market leases, net			15,771		9,205		621		4,516		(121)		-		1,550
Total rentals					552,457		209,603		141,655		105,981		58,638		-		36,580
Tenant expense reimbursements					91,930		33,252		14,917		37,595		3,977		-		2,189
Fee and other income:
	Tenant cleaning fees				13,652		20,418		-		-		-		-		(6,766)
	Management and leasing fees				9,140		1,457		8,096		224		14		-		(651)
	Lease termination fees				4,970		728		446		3,408		388		-		-
	Other				13,165		4,410		5,837		740		1,962		-		216
Total revenues					685,314		269,868		170,951		147,948		64,979		-		31,568
Operating expenses					274,693		115,049		54,757		53,127		37,210		-		14,550
Depreciation and amortization					133,793		43,707		36,212		27,797		11,979		-		14,098
General and administrative					48,630		4,579		5,893		6,941		7,198		-		24,019
Total expenses					457,116		163,335		96,862		87,865		56,387		-		52,667
Operating income (loss)					228,198		106,533		74,089		60,083		8,592		-		(21,099)
Income applicable to Toys					125,870		-		-		-		-		125,870		-
Income (loss) from partially owned
	entities				11,344		1,303		(192)		1,391		176		-		8,666
Interest and other investment
	income, net				14,704		164		26		3		12		-		14,499
Interest and debt expense					(135,727)		(32,686)		(34,157)		(17,642)		(9,363)		-		(41,879)
Net gain on disposition of wholly
	owned and partially owned assets				3,305		-		-		-		796		-		2,509
Income (loss) before income taxes					247,694		75,314		39,766		43,835		213		125,870		(37,304)
Income tax expense					(5,580)		(474)		(686)		(35)		(194)		-		(4,191)
Income (loss) from continuing
	operations				242,114		74,840		39,080		43,800		19		125,870		(41,495)
(Loss) from discontinued operations					(9,570)		-		(8,323)		(202)		(1,045)		-		-
Net income (loss)					232,544		74,840		30,757		43,598		(1,026)		125,870		(41,495)
Net (income) loss attributable to
	noncontrolling interests in
	consolidated subsidiaries				(213)		(2,292)		-		242		-		-		1,837
Net (income) attributable to
	noncontrolling interests in the
	Operating Partnership, including
	unit distributions				(17,779)		-		-		-		-		-		(17,779)
Net income (loss) attributable to
	Vornado				214,552		72,548		30,757		43,840		(1,026)		125,870		(57,437)
Interest and debt expense⁽²⁾					196,187		30,992		35,171		19,354		13,009		41,140		56,521
Depreciation and amortization⁽²⁾					186,149		42,074		39,841		28,811		13,482		35,327		26,614
Income tax expense⁽²⁾					55,706		474		724		35		253		49,710		4,510
EBITDA⁽¹⁾				$	652,594	$	146,088	$	106,493	$	92,040	$	25,718	$	252,047	$	30,208


See notes on the following page.

20. Segment Information - continued

	Notes to preceding tabular information:

(1)	EBITDA represents "Earnings Before Interest, Taxes, Depreciation and Amortization." We consider EBITDA a supplemental measure for making decisions and assessing the unlevered performance of our segments as it relates to the total return on assets as opposed to the levered return on equity. As properties are bought and sold based on a multiple of EBITDA, we utilize this measure to make investment decisions as well as to compare the performance of our assets to that of our peers. EBITDA should not be considered a substitute for net income. EBITDA may not be comparable to similarly titled measures employed by other companies.

(2)	Interest and debt expense, depreciation and amortization and income tax (benefit) expense in the reconciliation of net income (loss) to EBITDA includes our share of these items from partially owned entities.

(3)	The components of other EBITDA are summarized below. The totals for each of the columns below agree to the total EBITDA for the "other" column in the preceding EBITDA by segment reconciliations.

			For the Three Months
(Amounts in thousands)			Ended March 31,
			2011		2010
Alexander's			$	15,168	$	14,399
Lexington				11,993		17,848
555 California Street				10,965		11,488
LNR (acquired in July 2010)				9,390		-
Industrial warehouses				356		839
Hotel Pennsylvania				(68)		(447)
Other investments				8,999		9,307
				56,803		53,434
Corporate general and administrative expenses⁽¹⁾				(21,355)		(19,388)
Investment income and other, net⁽¹⁾				14,376		11,514
Mezzanine loans loss reversal and net gain on disposition				82,744		-
Income from the mark-to-market of J.C. Penney derivative position				17,163		-
Net gain on sale of condominiums				4,586		2,427
Real Estate Fund placement fees				(3,048)		-
Acquisition costs				(1,523)		-
Net income attributable to noncontrolling interests in the Operating Partnership,
	including unit distributions			(31,808)		(17,779)
			$	117,938	$	30,208


(1)		The amounts in these captions (for this table only) exclude the mark-to-market of our deferred compensation plan assets
		and offsetting liability.

Basis of Presentation and Recently Issued Accounting Literature (Policy)

3 Months Ended

Mar. 31, 2011

Basis of Presentation[Abstract]

Basis of Presentation and Recently Issued Accounting Literature Policy [Text Block]

Redeemable Noncontrolling Interests (Policy)	3 Months Ended
Redeemable Noncontrolling Interests (Policy)	Mar. 31, 2011
Redeemable Noncontrolling Interests [Abstract]
Redeemable Noncontrolling Interests Policy [TextBlock]	Redeemable noncontrolling interests on our consolidated balance sheets represent Operating Partnership units held by third parties and are comprised of Class A units and Series D-10, D-11, D-14, D-15 and D-16 (collectively, “Series D”) cumulative redeemable preferred units. Redeemable noncontrolling interests on our consolidated balance sheets are recorded at the greater of their carrying amount or redemption value at the end of each reporting period. Changes in the value from period to period are charged to “additional capital” in our consolidated statements of changes in equity.

Investments in Partially Owned Entities (Tables)

3 Months Ended

Mar. 31, 2011

Schedule Of Equity Method Investments [Line Items]

Equity Method Investments

			Percentage		Balance as of
(Amounts in thousands)			Ownership as of		March 31,		December 31,
Investments:			March 31, 2011		2011		2010
Toys				32.7%	$	556,189	$	447,334

Alexander’s				32.4%	$	188,280	$	186,811
Partially owned office buildings				(1)		220,050		181,838
280 Park Avenue Mezzanine Loans (see page 12)				50%		185,131		-
LNR				26.2%		148,227		132,973
India real estate ventures				4%-36.5%		94,077		127,193
Lexington				12.6%		57,434		57,270
Other equity method investments				(2)		223,095		241,587
					$	1,116,294	$	927,672

					For the Three Months
					Ended March 31,
Our Share of Net Income (Loss):					2011		2010
Toys – 32.7% share of:
	Equity in net income before income taxes				$	179,839	$	173,550
	Income tax expense					(69,018)		(49,710)
	Equity in net income					110,821		123,840
	Interest and other income					2,123		2,030
					$	112,944	$	125,870

Alexander’s – 32.4% share of:
	Equity in net income				$	5,719	$	3,777
	Management, leasing and development fees					2,292		2,683
						8,011		6,460

Lexington – 12.6% share in 2011 and 13.9% share in 2010 of
	equity in net income⁽³⁾					2,172		6,045

LNR – 26.2% share of equity in net income (acquired in July 2010)⁽⁴⁾						15,254		-

India real estate ventures – 4% to 36.5% range in our
	share of equity in net (loss) income					(207)		1,651

Other, net (including partially owned office buildings)⁽⁵⁾						(8,946)		(2,812)
					$	16,284	$	11,344
___________________________________
(1)		Includes interests in 330 Madison Avenue (25%), One Park Avenue (30.3%), 825 Seventh Avenue (50%), Warner Building and 1101 17th Street (55%), Fairfax Square (20%), Kaempfer equity interests in three office buildings (2.5% to 5.0%), Rosslyn Plaza (46%) and West 57th Street properties (50%).

(2)		Includes interests in Monmouth Mall, Verde Realty Operating Partnership, 85 10th Avenue Associates and redevelopment ventures, including Harlem Park and Farley.

(3)		The three months ended March 31, 2011 and 2010 include $1,452 and $5,998, respectively, of net gains resulting from Lexington's stock issuances.

(4)		Includes $8,977 for our share of a tax settlement gain.

(5)		2011 includes $9,022 for our share of expense, primarily for straight-line rent reserves and the write-off of tenant improvements in connection with a tenant's bankruptcy at the Warner Building.

Schedule of debt of partially owned entities

				Interest	100% of
				Rate at	Partially Owned Entities’ Debt at
(Amounts in thousands)				March 31,	March 31,		December 31,
			Maturity	2011	2011		2010
Toys (32.7% interest) (as of January 29, 2011 and October 30, 2010,
respectively):
	Senior unsecured notes (Face value – $950,000)		07/17	10.75%	$	928,597	$	928,045
	Senior unsecured notes (Face value – $725,000)		12/17	8.50%		715,821		715,577
	$700 million secured term loan facility		09/16	6.00%		688,357		689,757
	Senior U.K. real estate facility		04/13	5.02%		554,621		561,559
	7.625% bonds (Face value – $500,000)		08/11	8.82%		497,349		495,943
	7.875% senior notes (Face value – $400,000)		04/13	9.50%		387,459		386,167
	7.375% senior secured notes (Face value – $350,000)		09/16	7.38%		348,219		350,000
	7.375% senior notes (Face value – $400,000)		10/18	9.99%		344,734		343,528
	Japan bank loans		03/12-01/16	2.45%-2.85%		177,511		180,500
	Spanish real estate facility		02/13	4.51%		175,186		179,511
	Japan borrowings		06/13	0.81%		17,080		141,360
	Junior U.K. real estate facility		04/13	6.81%-7.84%		96,921		98,266
	French real estate facility		02/13	4.51%		84,291		86,599
	8.750% debentures (Face value – $21,600)		09/21	9.17%		21,063		21,054
	$1.85 billion credit facility		08/15	-		-		519,810
	European and Australian asset-based revolving credit facility		10/12	-		-		25,767
	Other		Various	Various		176,137		156,853
						5,213,346		5,880,296

Alexander’s (32.4% interest):
	731 Lexington Avenue mortgage note payable, collateralized by
		the office space (prepayable without penalty after 12/13)	02/14	5.33%		348,781		351,751
	731 Lexington Avenue mortgage note payable, collateralized by
		the retail space (prepayable without penalty after 12/13)	07/15	4.93%		320,000		320,000
	Rego Park construction loan payable		12/11	1.50%		277,200		277,200
	Kings Plaza Regional Shopping Center mortgage note payable		06/11	7.46%		150,375		151,214
	Rego Park mortgage note payable (prepayable without penalty)		03/12	0.75%		78,246		78,246
	Paramus mortgage note payable (prepayable without penalty)		10/11	5.92%		68,000		68,000
						1,242,602		1,246,411

Lexington (12.6% interest) (as of December 31, 2010 and
September 30, 2010, respectively):
	Mortgage loans collateralized by Lexington’s real estate (various
		prepayment terms)	2011-2037	5.82%		1,792,761		1,927,729

LNR (26.2% interest) (as of December 31, 2010 and
September 30, 2010):
	Mortgage notes payable		2011-2043	5.75%		366,069		508,547
	Liabilities of consolidated CMBS and CDO trusts		n/a	6.06%		142,197,352		142,001,333
						142,563,421		142,509,880

				Interest	100% of
				Rate at	Partially Owned Entities’ Debt at
(Amounts in thousands)				March 31,	March 31,		December 31,
			Maturity	2011	2011		2010
Partially owned office buildings:
	One Park Avenue (30.3% interest) mortgage note payable		03/16	5.00%	$	250,000	$	-
	Warner Building (55% interest) mortgage note payable		05/16	6.26%		292,700		292,700
	330 Madison Avenue (25% interest) mortgage note payable		06/15	1.81%		150,000		150,000
	Kaempfer Properties (2.5% and 5.0% interests in two partnerships)
		mortgage notes payable, collateralized by the partnerships’ real estate	11/11-12/11	5.86%		138,705		139,337
	Fairfax Square (20% interest) mortgage note payable (prepayable
		without penalty after 07/14)	12/14	7.00%		71,571		71,764
	Rosslyn Plaza (46% interest) mortgage note payable		12/11	1.30%		56,680		56,680
	330 West 34th Street (34.8% interest) mortgage note payable,
		collateralized by land	07/22	5.71%		50,150		50,150
	West 57th Street (50% interest) mortgage note payable (prepayable
		without penalty)	02/14	4.94%		22,720		22,922
	825 Seventh Avenue (50% interest) mortgage note payable (prepayable
		without penalty after 04/14)	10/14	8.07%		20,447		20,565
India Real Estate Ventures:
	TCG Urban Infrastructure Holdings (25% interest) mortgage notes
		payable, collateralized by the entity’s real estate (various
		prepayment terms)	2011-2022	13.88%		202,029		196,319
Other:
	Verde Realty Operating Partnership (8.3% interest) mortgage notes
		payable, collateralized by the partnerships’ real estate (various
		prepayment terms)	2011-2025	5.91%		564,270		581,086
	Green Courte Real Estate Partners, LLC (8.3% interest) (as of
		December 31, 2010 and September 30, 2010), mortgage notes
		payable, collateralized by the partnerships’ real estate (various
		prepayment terms)	2011-2018	5.50%		296,991		296,991
	Waterfront Associates (2.5% interest) up to $250 million construction
		and land loan payable	09/11	2.26% - 3.76%		219,442		217,106
	Monmouth Mall (50% interest) mortgage note payable (prepayable
		without penalty after 07/15)	09/15	5.44%		163,917		164,474
	Wells/Kinzie Garage (50% interest) mortgage note payable		12/17	5.00%		14,977		15,022
	Orleans Hubbard Garage (50% interest) mortgage note payable		12/17	5.00%		9,480		9,508
	Other		Various	5.39%		417,553		418,339

Toys R Us [Member]

Schedule Of Equity Method Investments [Line Items]

Equity Method Investment Summarized Financial Information Table Text Block

(Amounts in thousands)		Balance as of
Balance Sheet:		January 29, 2011		October 30, 2010
	Assets	$	11,972,000	$	12,810,000
	Liabilities		10,145,000		11,317,000
	Toys “R” Us, Inc. equity		1,827,000		1,493,000

		For the Three Months Ended
Income Statement:		January 29, 2011		January 30, 2010
	Total revenues	$	5,972,000	$	5,857,000
	Net income attributable to Toys		339,000		379,000

Alexanders Inc [Member]

Schedule Of Equity Method Investments [Line Items]

Equity Method Investment Summarized Financial Information Table Text Block

(Amounts in thousands)		Balance as of
Balance Sheet:		March 31, 2011		December 31, 2010
	Assets	$	1,685,000	$	1,679,000
	Liabilities		1,339,000		1,335,000
	Noncontrolling interests		3,000		3,000
	Stockholders' equity		343,000		341,000

		For the Three Months Ended
Income Statement:		March 31, 2011		March 31, 2010
	Total revenues	$	63,000	$	59,000
	Net income attributable to Alexander’s		18,000		15,000

Lexington Realty Trust [Member]

Schedule Of Equity Method Investments [Line Items]

Equity Method Investment Summarized Financial Information Table Text Block

(Amounts in thousands)		Balance as of
Balance Sheet:		December 31, 2010		September 30, 2010
	Assets	$	3,335,000	$	3,385,000
	Liabilities		1,979,000		2,115,000
	Noncontrolling interests		76,000		71,000
	Shareholders’ equity		1,280,000		1,199,000

		For the Three Months Ended
Income Statement:		December 31, 2010		December 31, 2009
	Total revenues	$	86,000	$	86,000
	Net income (loss) attributable to Lexington		12,000		(46,000)

LNR [Member]

Schedule Of Equity Method Investments [Line Items]

Equity Method Investment Summarized Financial Information Table Text Block

(Amounts in thousands)		Balance as of
Balance Sheet:		December 31, 2010
	Assets		$	143,327,000
	Liabilities			142,723,000
	Noncontrolling interests			34,000
	LNR equity			570,000

		For the Three Months Ended
Income Statement:		December 31, 2010
	Total revenues		$	36,000
	Net income attributable to LNR			58,000

Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2011

Discontinued Operations Tables Abstract

Schedule Of Assets And Liabilities And Results Of Operations Related To Discontinued Operations

	Assets Related to				Liabilities Related to
(Amounts in thousands)	Discontinued Operations as of				Discontinued Operations as of
	March 31,		December 31,		March 31,		December 31,
	2011		2010		2011		2010
High Point	$	-	$	154,563	$	-	$	236,974
1227 25th Street		-		43,630		-		-
1140 Connecticut Avenue		-		36,271		-		18,948
Total	$	-	$	234,464	$	-	$	255,922


					For The Three Months
(Amounts in thousands)					Ended March 31,
					2011		2010
Total revenues					$	5,987	$	11,021
Total expenses						6,744		10,535
						(757)		486
Net gain on extinguishment of High Point debt						83,907		-
Net gain on sale of 1140 Connecticut Avenue and 1227 25th Street						45,862		-
Net gain on sales of other real estate						5,303		-
Litigation loss accrual						-		(10,056)
Income (loss) from discontinued operations					$	134,315	$	(9,570)

Identified Intangible Assets and Intangible Liabilities (Tables)

3 Months Ended

Mar. 31, 2011

Statement [Line Items]

Schedule of Identified Intangible Assets and Intangible Liabilities (Table)

	Balance as of
	March 31,		December 31,
(Amounts in thousands)	2011		2010
Identified intangible assets:
Gross amount	$	683,374	$	687,253
Accumulated amortization		(350,104)		(338,508)
Net	$	333,270	$	348,745
Identified intangible liabilities (included in deferred credit):
Gross amount	$	883,451	$	870,623
Accumulated amortization		(358,794)		(341,718)
Net	$	524,657	$	528,905

Below Market Leases Net Of Above Market Leases [Member]

Statement [Line Items]

Schedule of future amortization expense of intangible assets

(Amounts in thousands)
2012	$	52,016
2013		44,087
2014		38,236
2015		35,472
2016		32,093

Other Identified Intangible Assets [Member]

Statement [Line Items]

Schedule of future amortization expense of intangible assets

(Amounts in thousands)
2012	$	44,777
2013		37,281
2014		18,885
2015		13,929
2016		11,325

Tenant Under Ground Leases [Member]

Statement [Line Items]

Schedule of future amortization expense of intangible assets

(Amounts in thousands)
2012	$	1,256
2013		1,256
2014		1,256
2015		1,256
2016		1,256

Debt (Tables)

3 Months Ended

Mar. 31, 2011

Debt Tables Abstract

Schedule of Debt

				Interest
(Amounts in thousands)				Rate at	Balance at
				March 31,	March 31,		December 31,
Notes and mortgages payable:			Maturity (1)	2011	2011		2010
Fixed rate:
	New York Office:
		350 Park Avenue	01/12	5.48%	$	430,000	$	430,000
		Two Penn Plaza⁽²⁾	03/18	5.13%		425,000		277,347
		1290 Avenue of the Americas	01/13	5.97%		421,345		424,136
		770 Broadway	03/16	5.65%		353,000		353,000
		888 Seventh Avenue	01/16	5.71%		318,554		318,554
		909 Third Avenue	04/15	5.64%		206,069		207,045
		Eleven Penn Plaza	12/11	5.20%		198,282		199,320

	Washington, DC Office:
		Skyline Place	02/17	5.74%		678,000		678,000
		River House Apartments	04/15	5.43%		195,546		195,546
		2121 Crystal Drive⁽³⁾	03/23	5.51%		150,000		-
		Bowen Building	06/16	6.14%		115,022		115,022
		1215 Clark Street, 200 12th Street and 251 18th Street	01/25	7.09%		110,509		110,931
		Universal Buildings	04/14	6.38%		102,119		103,049
		Reston Executive I, II, and III	01/13	5.57%		93,000		93,000
		2011 Crystal Drive	08/17	7.30%		81,221		81,362
		1550 and 1750 Crystal Drive	11/14	7.08%		78,782		79,411
		220 20th Street⁽⁴⁾	02/18	4.61%		75,982		-
		1235 Clark Street	07/12	6.75%		52,057		52,314
		2231 Crystal Drive	08/13	7.08%		45,790		46,358
		1750 Pennsylvania Avenue	06/12	7.26%		44,926		45,132
		1225 Clark Street	08/13	7.08%		27,389		27,616
		1800, 1851 and 1901 South Bell Street	12/11	6.91%		7,658		10,099

	Retail:
		Cross-collateralized mortgages on 40 strip shopping centers	09/20	4.19%		594,247		597,138
		Montehiedra Town Center	07/16	6.04%		120,000		120,000
		Broadway Mall	07/13	5.30%		89,598		90,227
		828-850 Madison Avenue Condominium	06/18	5.29%		80,000		80,000
		North Bergen (Tonnelle Avenue)⁽⁵⁾	01/18	4.59%		75,000		-
		Las Catalinas Mall	11/13	6.97%		57,328		57,737
		510 5th Avenue	01/16	5.60%		32,071		32,189
		Other	03/12-05/36	5.10%-7.33%		100,870		101,251

	Merchandise Mart:
		Merchandise Mart	12/16	5.57%		550,000		550,000
		Boston Design Center	09/15	5.02%		68,235		68,538
		Washington Design Center	11/11	6.95%		43,227		43,447

	Other:
		555 California Street	09/11	5.79%		641,551		640,911
		Borgata Land⁽⁶⁾	02/21	5.14%		60,000		-
		Industrial Warehouses	10/11	6.95%		24,271		24,358
Total fixed rate notes and mortgages payable				5.61%	$	6,746,649	$	6,253,038
___________________
		See notes on page 20.

					Interest
(Amounts in thousands)					Rate at	Balance at
				Spread over	March 31,	March 31,		December 31,
Notes and mortgages payable:			Maturity (1)	LIBOR	2011	2011		2010
Variable rate:
	New York Office:
		Manhattan Mall	02/12	L+55	0.82%	$	232,000	$	232,000
		866 UN Plaza	05/11	L+40	0.71%		44,978		44,978
	Washington, DC Office:
		2101 L Street	02/13	L+120	1.45%		150,000		150,000
		West End 25 (construction loan)⁽⁷⁾	08/11	n/a⁽⁷⁾	2.75%		78,554		95,220
		River House Apartments	04/18	n/a⁽⁸⁾	1.62%		64,000		64,000
		2200/2300 Clarendon Boulevard	01/15	L+75	1.01%		57,802		59,278
		1730 M and 1150 17th Street	06/14	L+140	1.66%		43,580		43,581
		220 20th Street⁽⁴⁾	n/a	n/a	n/a		-		83,573
	Retail:
		Green Acres Mall	02/13	L+140	1.75%		325,045		335,000
		Bergen Town Center (construction loan)	03/13	L+150	1.79%		279,044		279,044
		San Jose Strip Center	03/13	L+400	4.32%		118,285		120,863
		Beverly Connection⁽⁹⁾	07/12	L+350⁽⁹⁾	5.00%		100,000		100,000
		4 Union Square South	04/14	L+325	3.56%		75,000		75,000
		Cross-collateralized mortgages on 40 strip
		shopping centers⁽¹⁰⁾	09/20	L+136⁽¹⁰⁾	2.36%		60,000		60,000
		435 Seventh Avenue⁽¹¹⁾	08/14	L+300⁽¹¹⁾	5.00%		51,725		51,844
		Other	11/12	L+375	4.02%		22,108		21,862
	Other:
		220 Central Park South	10/11	L+235–L+245	2.65%		123,750		123,750
		Other	11/11	L+250	2.80%		22,400		66,267
	Total variable rate notes and mortgages payable				2.23%		1,848,271		2,006,260
	Total notes and mortgages payable				4.88%	$	8,594,920	$	8,259,298

Senior unsecured notes:
	Senior unsecured notes due 2015		04/15		4.25%	$	499,338	$	499,296
	Senior unsecured notes due 2039⁽¹²⁾		10/39		7.88%		460,000		460,000
	Floating rate senior unsecured notes due 2011		12/11	L+200	2.30%		23,250		23,250
	Senior unsecured notes due 2011		n/a		n/a		-		100,382
	Total senior unsecured notes				5.90%	$	982,588	$	1,082,928

3.88% exchangeable senior debentures due 2025
	(see page 21)		04/12		5.32%	$	492,690	$	491,000

Convertible senior debentures: (see page 21)
	3.63% due 2026		11/11		5.32%	$	177,221	$	176,499
	2.85% due 2027		04/12		5.45%		9,977		9,914
	Total convertible senior debentures ⁽¹³⁾				5.33%	$	187,198	$	186,413

Unsecured revolving credit facilities:
	$1.595 billion unsecured revolving credit facility		09/12	L+55	0.79%	$	324,000	$	669,000
	$1.000 billion unsecured revolving credit facility
		($12,423 reserved for outstanding letters of credit)	06/11	L+55	0.79%		50,000		205,000
	Total unsecured revolving credit facilities				0.79%	$	374,000	$	874,000
___________________________
	See notes on the following page.

	Notes to preceding tabular information (Amounts in thousands):

	(1)	Represents the extended maturity for certain loans in which we have the unilateral right, ability and intent to extend. In the case of our convertible and exchangeable debt, represents the earliest date holders may require us to repurchase the debentures.

	(2)	On February 11, 2011, we completed a $425,000 refinancing of this loan. The seven-year loan bears interest at LIBOR plus 2.00%, which was swapped for the term of the loan to a fixed rate of 5.13%. The loan amortizes based on a 30-year schedule beginning in the fourth year. We retained net proceeds of approximately $139,000, after repaying the existing loan and closing costs.

	(3)	On February 10, 2011, we completed a $150,000 financing of this property. The 12-year fixed rate loan bears interest at 5.51% and amortizes based on a 30-year schedule beginning in the third year. This property was previously unencumbered.

	(4)	On January 18, 2011, we repaid the outstanding balance of the construction loan on this property and closed on a new $76,100 mortgage financing at a fixed rate of 4.61%. The new loan has a seven-year term and amortizes based on a 30-year schedule.

	(5)	On January 10, 2011, we completed a $75,000 financing on this property. The seven-year fixed rate loan bears interest at 4.59% and amortizes based on a 25-year schedule beginning in the sixth year. This property was previously unencumbered.

	(6)	In January 2011, we completed a $60,000 financing of this property. The 10-year fixed rate loan bears interest at 5.14% and amortizes based on a 30-year schedule beginning in the third year.

	(7)	In February 2011, we repaid a portion of this loan and extended the maturity to August 2011. This loan bears interest at the prime rate minus 0.50%.

	(8)	This loan bears interest at the Freddie Mac Reference Note Rate plus 1.53%.

	(9)	This loan has a LIBOR floor of 1.50%. The spread over LIBOR increases from 3.50% currently to 5.00% in July 2011.

	(10)	This loan has a LIBOR floor of 1.00%.

	(11)	This loan has a LIBOR floor of 2.00%.

	(12)	These notes may be redeemed at our option in whole or in part beginning on October 1, 2014, at a price equal to the principal amount plus accrued interest.

	(13)	The net proceeds from the offering of these debentures were contributed to the Operating Partnership in the form of an inter-company loan and the Operating Partnership fully and unconditionally guaranteed payment of these debentures. There are no restrictions which limit the Operating Partnership from making distributions to Vornado and Vornado has virtually no independent assets or operations outside of the Operating Partnership.

Debt

			2.85% Convertible				3.63% Convertible				3.88% Exchangeable
(Amounts in thousands, except per share amounts)			Senior Debentures due 2027				Senior Debentures due 2026				Senior Debentures due 2025
			March 31,		December 31,		March 31,		December 31,		March 31,		December 31,
Balance Sheet:			2011		2010		2011		2010		2011		2010
	Principal amount of debt component		$	10,233	$	10,233	$	179,052	$	179,052	$	499,982	$	499,982
	Unamortized discount			(256)		(319)		(1,831)		(2,553)		(7,292)		(8,982)
	Carrying amount of debt component		$	9,977	$	9,914	$	177,221	$	176,499	$	492,690	$	491,000
	Carrying amount of equity component		$	956	$	956	$	9,604	$	9,604	$	32,301	$	32,301
	Effective interest rate			5.45%		5.45%		5.32%		5.32%		5.32%		5.32%
	Maturity date (period through which
		discount is being amortized)		4/1/12				11/15/11				4/15/12
	Conversion price per share, as adjusted		$	157.18			$	148.46			$	87.17
	Number of shares on which the
		aggregate consideration to be
		delivered upon conversion is
		determined		-⁽¹⁾				-⁽¹⁾				5,736
__________________

(1)		Our convertible senior debentures require that upon conversion, the entire principal amount is to be settled in cash, and at our option, any excess value above the principal amount may be settled in cash or common shares. Based on the March 31, 2011 closing share price of our common shares and the conversion prices in the table above, there was no excess value; accordingly, no common shares would be issued if these securities were settled on this date. The number of common shares on which the aggregate consideration that would be delivered upon conversion is 65 and 1,206 common shares, respectively.

Disclosures of convertible and exchangeable senior debentures

		For the Three Months Ended
(Amounts in thousands)		March 31,
Income Statement:		2011		2010
2.85% Convertible Senior Debentures due 2027:
	Coupon interest	$	73	$	160
	Discount amortization – original issue		11		23
	Discount amortization – ASC 470-20 implementation		52		106
		$	136	$	289

3.63% Convertible Senior Debentures due 2026:
	Coupon interest	$	1,623	$	3,963
	Discount amortization – original issue		196		455
	Discount amortization – ASC 470-20 implementation		526		1,219
		$	2,345	$	5,637

3.88% Exchangeable Senior Debentures due 2025:
	Coupon interest	$	4,844	$	4,844
	Discount amortization – original issue		399		379
	Discount amortization – ASC 470-20 implementation		1,291		1,225
		$	6,534	$	6,448

Redeemable Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2011

Redeemable Noncontrolling Interests Tables Abstract

Summary Of Activity Of Redeemable Noncontrolling Interests

(Amounts in thousands)
Balance at December 31, 2009	$	1,251,628
Net income		17,779
Distributions		(13,082)
Conversion of Class A units into common shares, at redemption value		(18,128)
Adjustments to carry redeemable Class A units at redemption value		104,247
Redemption of Series D-12 redeemable units		(4,000)
Other, net		1,304
Balance at March 31, 2010	$	1,339,748


Balance at December 31, 2010	$	1,327,974
Net income		31,808
Distributions		(12,702)
Conversion of Class A units into common shares, at redemption value		(27,539)
Adjustments to carry redeemable Class A units at redemption value		42,227
Other, net		4,752
Balance at March 31, 2011	$	1,366,520

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2011

Fair Value Measurements Tables Abstract

Schedule of Fair Values of Financial Assets and Liabilities by Levels Table

			As of March 31, 2011
(Amounts in thousands)			Total		Level 1		Level 2		Level 3
	Marketable securities		$	821,920	$	821,920	$	-	$	-
	Real Estate Fund investments (75% of which is attributable to
		noncontrolling interests)		230,657		-		-		230,657
	Deferred compensation plan assets (included in other assets)			97,951		46,339		-		51,612
	Derivative positions in marketable equity securities			34,779		-		34,779		-
		Total assets	$	1,185,307	$	868,259	$	34,779	$	282,269

	Mandatorily redeemable instruments (included in other liabilities)		$	55,097	$	55,097	$	-	$	-

			As of December 31, 2010
(Amounts in thousands)			Total		Level 1		Level 2		Level 3
	Marketable securities		$	766,116	$	766,116	$	-	$	-
	Real Estate Fund investments (75% of which is attributable to
		noncontrolling interests)		144,423		-		-		144,423
	Deferred compensation plan assets (included in other assets)			91,549		43,699		-		47,850
	Derivative positions in marketable equity securities			17,616		-		17,616		-
		Total assets	$	1,019,704	$	809,815	$	17,616	$	192,273

	Mandatorily redeemable instruments (included in other liabilities)		$	55,097	$	55,097	$	-	$	-

Summary of Changes in Level 3 Deferred Compensation Plan Assets Table

Real Estate Fund Investments:
	For the Three Months Ended March 31,
(Amounts in thousands)	2011		2010
Beginning balance	$	144,423	$	-
Purchases		100,238		-
Realized and unrealized gains		698		-
Other, net		(14,702)		-
Ending balance	$	230,657	$	-


Deferred Compensation Plan Assets:
	For the Three Months Ended March 31,
(Amounts in thousands)	2011		2010
Beginning balance	$	47,850	$	39,589
Purchases		1,286		3,132
Realized and unrealized gains		3,623		1,108
Other, net		(1,147)		(566)
Ending balance	$	51,612	$	43,263

Schedule Of Carrying Amounts And Fair Values Of Financial Instruments

			As of March 31, 2011				As of December 31, 2010
			Carrying		Fair		Carrying		Fair
(Amounts in thousands)			Amount		Value		Amount		Value
	Mezzanine loans receivable		$	140,567	$	135,330	$	202,412	$	197,581
	Debt:
		Notes and mortgages payable	$	8,594,920	$	8,857,040	$	8,259,298	$	8,450,812
		Senior unsecured notes		982,588		1,033,680		1,082,928		1,119,512
		Exchangeable senior debentures		492,690		558,105		491,000		554,355
		Convertible senior debentures		187,198		191,958		186,413		191,510
		Revolving credit facility debt		374,000		374,000		874,000		874,000
			$	10,631,396	$	11,014,783	$	10,893,639	$	11,190,189

Fee and Other Income (Tables)

3 Months Ended

Mar. 31, 2011

Fee And Other Income Tables Abstract

Fee and Other Income (Table)

	For the Three Months
(Amounts in thousands)	Ended March 31,
	2011		2010
Tenant cleaning fees	$	15,423	$	13,652
Management and leasing fees		4,106		9,140
Lease termination fees		1,176		4,970
Other income		13,588		13,165
	$	34,293	$	40,927

Interest and Other Investment Income (Loss), Net (Tables)

3 Months Ended

Mar. 31, 2011

Interest And Other Investment Loss Income Net Tables Abstract

Schedule Of Interest And Other Investment Income Net Text Block

		For the Three Months
(Amounts in thousands)		Ended March 31,
		2011		2010
Mezzanine loans loss reversal and net gain on disposition		$	82,744	$	-
Income from the mark-to-market of J.C. Penney derivative position			17,163		-
Dividends and interest on marketable securities			7,667		7,245
Mark-to-market of investments in our deferred compensation plan⁽¹⁾			4,952		2,763
Interest on mezzanine loans			2,644		2,715
Other, net			1,938		1,981
		$	117,108	$	14,704
__________________________

(1)	This income is entirely offset by the expense resulting from the mark-to-market of the deferred compensation plan liability, which is included in "general and administrative" expense.

Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2011

Comprehensive Income Tables Abstract

Comprehensive Income (Loss) (Table)

	For the Three Months
(Amounts in thousands)	Ended March 31,
	2011		2010
Net income	$	445,821	$	232,544
Other comprehensive income		57,161		1,504
Comprehensive income		502,982		234,048
Less: Comprehensive income attributable to noncontrolling interests		36,759		18,098
Comprehensive income attributable to Vornado	$	466,223	$	215,950

Income Per Share (Tables)

3 Months Ended

Mar. 31, 2011

Income Per Share Tables Abstract

Schedule of Reconciliation of Income Per Share (Table)

			For the Three Months
(Amounts in thousands, except per share amounts)			Ended March 31,
			2011		2010
Numerator:
	Income from continuing operations, net of income attributable to noncontrolling interests		$	286,947	$	224,122
	Income (loss) from discontinued operations, net of income attributable to noncontrolling interests			125,716		(9,570)
	Net income attributable to Vornado			412,663		214,552
	Preferred share dividends			(13,448)		(14,267)
	Net income attributable to common shareholders			399,215		200,285
	Earnings allocated to unvested participating securities			(46)		(20)
	Numerator for basic income per share			399,169		200,265
	Impact of assumed conversions:
		Interest on 3.875% exchangeable senior debentures		6,534		-
		Convertible preferred share dividends		32		41
	Numerator for diluted income per share		$	405,735	$	200,306

Denominator:
	Denominator for basic income per share –
		weighted average shares		183,988		181,542
	Effect of dilutive securities^(1):
		3.875% exchangeable senior debentures		5,736		-
		Employee stock options and restricted share awards		1,749		1,831
		Convertible preferred shares		56		72
	Denominator for diluted income per share –
		weighted average shares and assumed conversions		191,529		183,445

INCOME PER COMMON SHARE – BASIC:
	Income from continuing operations, net		$	1.49	$	1.15
	Income (loss) from discontinued operations, net			0.68		(0.05)
	Net income per common share		$	2.17	$	1.10

INCOME PER COMMON SHARE – DILUTED:
	Income from continuing operations, net		$	1.46	$	1.14
	Income (loss) from discontinued operations, net			0.66		(0.05)
	Net income per common share		$	2.12	$	1.09


(1)		The effect of dilutive securities in the three months ended March 31, 2011 and 2010 excludes an aggregate of 12,787 and 21,029 weighted average common share equivalents, respectively, as their effect was anti-dilutive.

Segment Information (Tables)

3 Months Ended

Mar. 31, 2011

Mar. 31, 2010

Segment Information Tables Abstract

Schedule of Segment Information


(Amounts in thousands)			For the Three Months Ended March 31, 2011
						New York		Washington, DC				Merchandise
				Total		Office		Office		Retail		Mart		Toys		Other⁽³⁾
Property rentals				$	540,472	$	194,242	$	138,884	$	107,447	$	62,565	$	-	$	37,334
Straight-line rent adjustments					13,929		7,870		(5)		4,181		790		-		1,093
Amortization of acquired below-
		market leases, net			16,759		8,177		466		6,960		17		-		1,139
Total rentals					571,160		210,289		139,345		118,588		63,372		-		39,566
Tenant expense reimbursements					90,959		33,876		9,297		39,331		4,023		-		4,432
Cleveland Medical Mart development
		project			40,699		-		-		-		40,699		-		-
Fee and other income:
	Tenant cleaning fees				15,423		23,430		-		-		-		-		(8,007)
	Management and leasing fees				4,106		1,495		2,885		555		103		-		(932)
	Lease termination fees				1,176		65		1,111		-		-		-		-
	Other				13,588		4,763		5,345		1,407		2,036		-		37
Total revenues					737,111		273,918		157,983		159,881		110,233		-		35,096
Operating expenses					290,773		121,909		48,836		60,680		41,946		-		17,402
Depreciation and amortization					132,227		46,146		33,684		28,541		11,062		-		12,794
General and administrative					59,003		5,364		6,537		8,022		7,598		-		31,482
Cleveland Medical Mart development
	project				38,278		-		-		-		38,278		-		-
Acquisition and other costs					18,270		-		-		15,000		3,040		-		230
Total expenses					538,551		173,419		89,057		112,243		101,924		-		61,908
Operating income (loss)					198,560		100,499		68,926		47,638		8,309		-		(26,812)
Income applicable to Toys					112,944		-		-		-		-		112,944		-
Income (loss) from partially owned
	entities				16,284		1,088		(3,915)		318		76		-		18,717
Income from Real Estate Fund					1,080		-		-		-		-		-		1,080
Interest and other investment
	income, net				117,108		172		32		8		9		-		116,887
Interest and debt expense					(134,765)		(33,086)		(28,926)		(23,069)		(9,338)		-		(40,346)
Net gain on disposition of wholly
	owned and partially owned assets				6,677		-		-		-		-		-		6,677
Income (loss) before income taxes					317,888		68,673		36,117		24,895		(944)		112,944		76,203
Income tax expense					(6,382)		(519)		(738)		(5)		(410)		-		(4,710)
Income (loss) from continuing
	operations				311,506		68,154		35,379		24,890		(1,354)		112,944		71,493
Income from discontinued operations					134,315		-		46,466		5,303		82,546		-		-
Net income					445,821		68,154		81,845		30,193		81,192		112,944		71,493
Net (income) loss attributable to
	noncontrolling interests in
	consolidated subsidiaries				(1,350)		(2,271)		-		155		-		-		766
Net (income) attributable to
	noncontrolling interests in the
	Operating Partnership, including
	unit distributions				(31,808)		-		-		-		-		-		(31,808)
Net income attributable to
	Vornado				412,663		65,883		81,845		30,348		81,192		112,944		40,451
Interest and debt expense⁽²⁾					198,848		31,994		32,221		24,164		12,907		40,135		57,427
Depreciation and amortization⁽²⁾					185,848		45,093		41,899		28,976		11,175		34,673		24,032
Income tax expense (benefit)⁽²⁾					66,828		519		848		5		410		69,018		(3,972)
EBITDA⁽¹⁾				$	864,187	$	143,489	$	156,813	$	83,493	$	105,684	$	256,770	$	117,938


See notes on page 31.

20. Segment Information - continued

	Notes to preceding tabular information:

(1)	EBITDA represents "Earnings Before Interest, Taxes, Depreciation and Amortization." We consider EBITDA a supplemental measure for making decisions and assessing the unlevered performance of our segments as it relates to the total return on assets as opposed to the levered return on equity. As properties are bought and sold based on a multiple of EBITDA, we utilize this measure to make investment decisions as well as to compare the performance of our assets to that of our peers. EBITDA should not be considered a substitute for net income. EBITDA may not be comparable to similarly titled measures employed by other companies.

(2)	Interest and debt expense, depreciation and amortization and income tax (benefit) expense in the reconciliation of net income (loss) to EBITDA includes our share of these items from partially owned entities.

(3)	The components of other EBITDA are summarized below. The totals for each of the columns below agree to the total EBITDA for the "other" column in the preceding EBITDA by segment reconciliations.


(Amounts in thousands)			For the Three Months Ended March 31, 2010
						New York		Washington, DC				Merchandise
				Total		Office		Office		Retail		Mart		Toys		Other⁽³⁾
Property rentals				$	516,623	$	192,604	$	136,826	$	95,107	$	57,657	$	-	$	34,429
Straight-line rent adjustments					20,063		7,794		4,208		6,358		1,102		-		601
Amortization of acquired below-
		market leases, net			15,771		9,205		621		4,516		(121)		-		1,550
Total rentals					552,457		209,603		141,655		105,981		58,638		-		36,580
Tenant expense reimbursements					91,930		33,252		14,917		37,595		3,977		-		2,189
Fee and other income:
	Tenant cleaning fees				13,652		20,418		-		-		-		-		(6,766)
	Management and leasing fees				9,140		1,457		8,096		224		14		-		(651)
	Lease termination fees				4,970		728		446		3,408		388		-		-
	Other				13,165		4,410		5,837		740		1,962		-		216
Total revenues					685,314		269,868		170,951		147,948		64,979		-		31,568
Operating expenses					274,693		115,049		54,757		53,127		37,210		-		14,550
Depreciation and amortization					133,793		43,707		36,212		27,797		11,979		-		14,098
General and administrative					48,630		4,579		5,893		6,941		7,198		-		24,019
Total expenses					457,116		163,335		96,862		87,865		56,387		-		52,667
Operating income (loss)					228,198		106,533		74,089		60,083		8,592		-		(21,099)
Income applicable to Toys					125,870		-		-		-		-		125,870		-
Income (loss) from partially owned
	entities				11,344		1,303		(192)		1,391		176		-		8,666
Interest and other investment
	income, net				14,704		164		26		3		12		-		14,499
Interest and debt expense					(135,727)		(32,686)		(34,157)		(17,642)		(9,363)		-		(41,879)
Net gain on disposition of wholly
	owned and partially owned assets				3,305		-		-		-		796		-		2,509
Income (loss) before income taxes					247,694		75,314		39,766		43,835		213		125,870		(37,304)
Income tax expense					(5,580)		(474)		(686)		(35)		(194)		-		(4,191)
Income (loss) from continuing
	operations				242,114		74,840		39,080		43,800		19		125,870		(41,495)
(Loss) from discontinued operations					(9,570)		-		(8,323)		(202)		(1,045)		-		-
Net income (loss)					232,544		74,840		30,757		43,598		(1,026)		125,870		(41,495)
Net (income) loss attributable to
	noncontrolling interests in
	consolidated subsidiaries				(213)		(2,292)		-		242		-		-		1,837
Net (income) attributable to
	noncontrolling interests in the
	Operating Partnership, including
	unit distributions				(17,779)		-		-		-		-		-		(17,779)
Net income (loss) attributable to
	Vornado				214,552		72,548		30,757		43,840		(1,026)		125,870		(57,437)
Interest and debt expense⁽²⁾					196,187		30,992		35,171		19,354		13,009		41,140		56,521
Depreciation and amortization⁽²⁾					186,149		42,074		39,841		28,811		13,482		35,327		26,614
Income tax expense⁽²⁾					55,706		474		724		35		253		49,710		4,510
EBITDA⁽¹⁾				$	652,594	$	146,088	$	106,493	$	92,040	$	25,718	$	252,047	$	30,208


See notes on the following page.

Details of Other EBITDA (Table)

			For the Three Months
(Amounts in thousands)			Ended March 31,
			2011		2010
Alexander's			$	15,168	$	14,399
Lexington				11,993		17,848
555 California Street				10,965		11,488
LNR (acquired in July 2010)				9,390		-
Industrial warehouses				356		839
Hotel Pennsylvania				(68)		(447)
Other investments				8,999		9,307
				56,803		53,434
Corporate general and administrative expenses⁽¹⁾				(21,355)		(19,388)
Investment income and other, net⁽¹⁾				14,376		11,514
Mezzanine loans loss reversal and net gain on disposition				82,744		-
Income from the mark-to-market of J.C. Penney derivative position				17,163		-
Net gain on sale of condominiums				4,586		2,427
Real Estate Fund placement fees				(3,048)		-
Acquisition costs				(1,523)		-
Net income attributable to noncontrolling interests in the Operating Partnership,
	including unit distributions			(31,808)		(17,779)
			$	117,938	$	30,208


(1)		The amounts in these captions (for this table only) exclude the mark-to-market of our deferred compensation plan assets
		and offsetting liability.

Organization (Details)	3 Months Ended
Organization (Details)	Mar. 31, 2011
Organization Details Abstract
Common limited partnership interest in Vornado Realty L.P., a Delaware limited partnership ("Operating Partnership")	93.30%

Acquisitions (Details) sqft in Thousands	3 Months Ended
Acquisitions (Details) sqft in Thousands	Mar. 31, 2011 USD ($) sqft
Statement [Line Items]
Vornado Total Equity Commitments For The Fund	$ 200,000,000
Total expected equity commitments for the Fund	$ 800,000,000
Investment period for commitments of the Fund, years	3
Term of the Fund, years	8
The Fund organization costs	$ 3,048,000
Number Of Investments Made By Fund	5
Investments Made By The Fund	$ 229,959,000
One Park Avenue [Member]
Statement [Line Items]
Square Footage Of Real Estate Property \| sqft	932
Other Acquisitions Abstract
Business Acquisition Cost Of Acquired Entity Purchase Price	$ 374,000,000
Business Acquisition Cost Of Acquired Entity Cash Paid	137,000,000
Business Acquisition Cost Of Acquired Entity Liabilities Incurred	$ 250,000,000
Debt Instruments Interest Rate At Period End	5.00%
Equity method ownership percentage	95.00%
One Park Avenue [Member] \| Vornado Realty Trust Excluding Real Estate Fund [Member]
Other Acquisitions Abstract
Equity method ownership percentage	30.30%
One Park Avenue [Member] \| Real Estate Fund [Member]
Other Acquisitions Abstract
Equity method ownership percentage	64.70%
Inception to Date [Member]
Statement [Line Items]
Proceeds From Partnership Contribution	$ 232,301,000
Vornado's contribution to the Real Estate Fund	$ 58,076,000

Marketable Securities and Derivative Instruments: Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2011	Dec. 31, 2010
Statement [Line Items]
Marketable securities	$ 821,920	$ 766,116
Marketable Securities - Average Cost	708,792	721,027
Aggregate unrealized gains	113,128	$ 45,089
Available For Sale Securities Gross Realized Gains Losses Sale Proceeds	15,162
Available For Sale Securities Gross Realized Gains	$ 2,091

Marketable Securities and Derivative Instruments: Derivative Instrument (Details) - JC Penney [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2011 USD ($) $ / shares shares
Derivative [Line Items]
Investment Owned Balance Shares \| shares	23,400,000
Ownership Percentage	9.90%
Unrealized Gain Loss On Securities	$ 224,453
Closing share price \| $ / shares	$ 35.91
Shares Owned [Member]
Derivative [Line Items]
Investment Owned Balance Shares \| shares	18,584,010
Acquisiton Price Per Share \| $ / shares	$ 25.70
Investment Owned, at Cost	$ 477,678
Unrealized Gain Loss On Securities	66,903
Investment Owned At Fair Value	667,352
Forward Contracts [Member]
Derivative [Line Items]
Unrealized Gain Loss On Securities	$ 17,163
Derivative Number Of Instruments Held \| shares	4,815,990
Derivative Price Risk Option Strike Price \| $ / shares	28.69
Derivative Maturity Date	Oct. 09, 2012
Notional Amount Of Price Risk Derivatives	$ 138,163
Derivative Basis Spread On Variable Rate	0.80%

Investments in Partially Owned Entities (Details) $ / shares in Units, $ in Thousands	3 Months Ended						12 Months Ended
	Mar. 31, 2011 USD ($) sqft $ / shares shares	Jan. 29, 2011 USD ($)	Dec. 31, 2010 USD ($)	Mar. 31, 2010 USD ($)	Jan. 30, 2010 USD ($)	Dec. 31, 2009 USD ($)	Dec. 31, 2008 USD ($)	Mar. 31, 2011	Oct. 30, 2010 USD ($)	Sep. 30, 2010 USD ($)	Oct. 31, 2008 shares
Schedule Of Equity Method Investments [Line Items]
Carrying amount of investments in partially owned entities	$ 1,672,483		$ 1,375,006
Income Loss From Equity Method Investments	129,228			$ 137,214
Net gain on disposition of wholly owned and partially owned assets	6,677			3,305
Contribution Of Notes Receivable To Joint Venture	73,750
Alexanders Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage								32.40%
Assets	1,685,000			1,679,000
Liabilities	1,339,000			1,335,000
Noncontrolling interests	3,000			3,000
Equity	343,000			341,000
Total revenue	63,000			59,000
Net (loss) income attributable to investee	18,000			15,000
Fees owed by Alexander's under management agreements	44,357
Closing share price								pure 406.95
Equity Method Investment Market Value	673,123
Excess of investee's fair value over carrying amount	484,843
Excess of investee's carrying amount over equity in net assets	59,643
Carrying amount of investments in partially owned entities	188,280		186,811
Equity in net income	5,719			3,777
Management and leasing fees	2,292			2,683
Income Loss From Equity Method Investments	$ 8,011			6,460
Toys R Us [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage								32.70%
Toy's fourth quarter fiscal year net income	more than 80%
Assets		$ 11,972,000							$ 12,810,000
Liabilities		10,145,000							11,317,000
Equity		1,827,000							$ 1,493,000
Total revenue		5,972,000			$ 5,857,000
Net (loss) income attributable to investee		$ 339,000			$ 379,000
Carrying amount of investments in partially owned entities	$ 556,189		447,334
Equity in net income, before income taxes	179,839			173,550
Income tax expense	(69,018)			(49,710)
Interest and other income	2,123			2,030
Equity in net income	110,821			123,840
Income Loss From Equity Method Investments	$ 112,944			125,870
Lexington Realty Trust [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage								12.60%
Assets			3,335,000							$ 3,385,000
Liabilities			1,979,000							2,115,000
Noncontrolling interests			76,000							71,000
Equity			1,280,000							$ 1,199,000
Total revenue			86,000			$ 86,000
Net (loss) income attributable to investee			12,000			$ (46,000)
Closing share price \| $ / shares	$ 9.35
Equity Method Investment Market Value	$ 172,685
Excess of investee's fair value over carrying amount	115,251
Excess of investee's carrying amount over equity in net assets	$ 62,315
Non-cash impairment charges							$ 107,882
Ownership common shares, Lexington \| shares	18,468,969
Additional common shares acquired in Lexington \| shares											8,000,000
Carrying amount of investments in partially owned entities	$ 57,434		57,270
Income Loss From Equity Method Investments	2,172			6,045
Impairment loss				0
Gain on stock issuance	1,452			5,998
LNR [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage								26.20%
Assets			143,327,000
Liabilities			142,723,000
Noncontrolling interests			34,000
Equity			570,000
Total revenue			36,000
Net (loss) income attributable to investee			58,000
Carrying amount of investments in partially owned entities	148,227		132,973
Income Loss From Equity Method Investments	15,254			0
Gain Loss On Tax Settlement	8,977
Assets In Consolidated Trusts			142,000,000
Mezzanine Loans 280 Park Avenue [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage								50.00%
Carrying amount of investments in partially owned entities	$ 185,131
Square Footage Of Real Estate Property \| sqft	1,200,000
Business Acquisition Cost Of Acquired Entity Cash Paid	$ 111,250
Business Acquisition Cost Of Acquired Entity Liabilities Incurred	15,000
Mezzanine Loans 280 Park Avenue [Member] \| Vornado Realty Trust [Member]
Schedule Of Equity Method Investments [Line Items]
Contribution Of Notes Receivable To Joint Venture	73,750
Mezzanine Loans 280 Park Avenue [Member] \| SL Green [Member]
Schedule Of Equity Method Investments [Line Items]
Contribution Of Notes Receivable To Joint Venture	326,250
Partially owned office buildings [Member]
Schedule Of Equity Method Investments [Line Items]
Carrying amount of investments in partially owned entities	220,050		181,838
Straight Line Rent Reserves And Write Off Of Tenant Improvements	9,022
India real estate ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Carrying amount of investments in partially owned entities	94,077		127,193
Income Loss From Equity Method Investments	(207)			1,651
Other equity method investments [Member]
Schedule Of Equity Method Investments [Line Items]
Carrying amount of investments in partially owned entities	223,095		$ 241,587
Income Loss From Equity Method Investments	$ (8,946)			$ (2,812)

Investments in Partially Owned Entities - Debt (Details)	3 Months Ended
	Mar. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity Method Investment Pro Rata Share Debt Of Partially Owned Entities	$ 40,260,412,000	$ 40,443,346,000
Equity method investment pro rata share debt of partially owned entities excluding our pro rata share of LNR liabilities related to CMBS and CDO	$ 3,041,677,000	3,275,917,000
Alexanders Inc [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	32.40%
Equity Method Investment Debt Of Partially Owned Entities	$ 1,242,602,000	1,246,411,000
Alexanders Inc [Member] \| Lexington Avenue Mortgage Office Space Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	02/14
Debt Instrument, Interest Rate at Period End	5.33%
Equity Method Investment Debt Of Partially Owned Entities	$ 348,781,000	351,751,000
Alexanders Inc [Member] \| Lexington Avenue Mortgage Retail Space Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	07/15
Debt Instrument, Interest Rate at Period End	4.93%
Equity Method Investment Debt Of Partially Owned Entities	$ 320,000,000	320,000,000
Alexanders Inc [Member] \| Rego Park Construction Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	12/11
Debt Instrument, Interest Rate at Period End	1.50%
Equity Method Investment Debt Of Partially Owned Entities	$ 277,200,000	277,200,000
Alexanders Inc [Member] \| Kings Plaza Regional Shopping Center Mortgage [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	06/11
Debt Instrument, Interest Rate at Period End	7.46%
Equity Method Investment Debt Of Partially Owned Entities	$ 150,375,000	151,214,000
Alexanders Inc [Member] \| Rego Park Mortgage Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	03/12
Debt Instrument, Interest Rate at Period End	0.75%
Equity Method Investment Debt Of Partially Owned Entities	$ 78,246,000	78,246,000
Alexanders Inc [Member] \| Paramus Mortgage Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	10/11
Debt Instrument, Interest Rate at Period End	5.92%
Equity Method Investment Debt Of Partially Owned Entities	$ 68,000,000	68,000,000
Toys R Us [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	32.70%
Equity Method Investment Debt Of Partially Owned Entities	$ 5,213,346,000	5,880,296,000
Toys R Us [Member] \| Senior Unsecured Notes At 1075 Due 2017 [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Face Amount	$ 950,000,000
Debt Instrument Maturity Date (String)	07/17
Debt Instrument, Interest Rate at Period End	10.75%
Equity Method Investment Debt Of Partially Owned Entities	$ 928,597,000	928,045,000
Toys R Us [Member] \| Senior Unsecured Notes At 850 Due 2017 Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Face Amount	$ 725,000,000
Debt Instrument Maturity Date (String)	12/17
Debt Instrument, Interest Rate at Period End	8.50%
Equity Method Investment Debt Of Partially Owned Entities	$ 715,821,000	715,577,000
Toys R Us [Member] \| Secured Term Loan Facility 700 Mllion Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Face Amount	$ 700,000,000
Debt Instrument Maturity Date (String)	09/16
Debt Instrument, Interest Rate at Period End	6.00%
Equity Method Investment Debt Of Partially Owned Entities	$ 688,357,000	689,757,000
Toys R Us [Member] \| Credit Facility 1.6 Billion [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Face Amount	$ 1,850,000,000
Debt Instrument Maturity Date (String)	08/15
Debt Instrument, Interest Rate at Period End
Equity Method Investment Debt Of Partially Owned Entities	$ 0	519,810,000
Toys R Us [Member] \| Senior Uk Real Estate Facility [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	04/13
Debt Instrument, Interest Rate at Period End	5.02%
Equity Method Investment Debt Of Partially Owned Entities	$ 554,621,000	561,559,000
Toys R Us [Member] \| Bonds 7625 Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.625%
Debt Instrument, Face Amount	$ 500,000,000
Debt Instrument Maturity Date (String)	08/11
Debt Instrument, Interest Rate at Period End	8.82%
Equity Method Investment Debt Of Partially Owned Entities	$ 497,349,000	495,943,000
Toys R Us [Member] \| Senior Notes 7875 Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.875%
Debt Instrument, Face Amount	$ 400,000,000
Debt Instrument Maturity Date (String)	04/13
Debt Instrument, Interest Rate at Period End	9.50%
Equity Method Investment Debt Of Partially Owned Entities	$ 387,459,000	386,167,000
Toys R Us [Member] \| Senior Secured Notes7375 [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.375%
Debt Instrument, Face Amount	$ 350,000,000
Debt Instrument Maturity Date (String)	09/16
Debt Instrument, Interest Rate at Period End	7.38%
Equity Method Investment Debt Of Partially Owned Entities	$ 348,219,000	350,000,000
Toys R Us [Member] \| Senior Notes 7375 Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.375%
Debt Instrument, Face Amount	$ 400,000,000
Debt Instrument Maturity Date (String)	10/18
Debt Instrument, Interest Rate at Period End	9.99%
Equity Method Investment Debt Of Partially Owned Entities	$ 344,734,000	343,528,000
Toys R Us [Member] \| Japan Bank Loans Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Maturity Date Range, Start	03/12
Debt Instrument, Maturity Date Range, End	01/16
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.0245
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	0.0285
Equity Method Investment Debt Of Partially Owned Entities	$ 177,511,000	180,500,000
Toys R Us [Member] \| Spanish Real Estate Facility Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	02/13
Debt Instrument, Interest Rate at Period End	4.51%
Equity Method Investment Debt Of Partially Owned Entities	$ 175,186,000	179,511,000
Toys R Us [Member] \| Japan Borrowings Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	06/13
Debt Instrument, Interest Rate at Period End	0.81%
Equity Method Investment Debt Of Partially Owned Entities	$ 17,080,000	141,360,000
Toys R Us [Member] \| Junior Uk Real Estate Facility Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	04/13
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.0681
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	0.0784
Equity Method Investment Debt Of Partially Owned Entities	$ 96,921,000	98,266,000
Toys R Us [Member] \| French Real Estate Facility Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	02/13
Debt Instrument, Interest Rate at Period End	4.51%
Equity Method Investment Debt Of Partially Owned Entities	$ 84,291,000	86,599,000
Toys R Us [Member] \| European And Australian Asset Based Revolving Credit Facility Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument Maturity Date (String)	10/12
Debt Instrument, Interest Rate at Period End
Equity Method Investment Debt Of Partially Owned Entities	$ 0	25,767,000
Toys R Us [Member] \| Debentures 8750 Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	8.75%
Debt Instrument, Face Amount	$ 21,600,000
Debt Instrument Maturity Date (String)	09/21
Debt Instrument, Interest Rate at Period End	9.17%
Equity Method Investment Debt Of Partially Owned Entities	$ 21,063,000	21,054,000
Toys R Us [Member] \| Other Investments [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity Method Investment Debt Of Partially Owned Entities	$ 176,137,000	156,853,000
Lexington Realty Trust [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	12.60%
Lexington Realty Trust [Member] \| Lexington Mortgage Notes Payable Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Maturity Date Range, Start	2011
Debt Instrument, Maturity Date Range, End	2037
Debt Instrument, Interest Rate at Period End	5.82%
Equity Method Investment Debt Of Partially Owned Entities	$ 1,792,761,000	1,927,729,000
LNR [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	26.20%
Equity Method Investment Debt Of Partially Owned Entities	$ 142,563,421,000	142,509,880,000
LNR [Member] \| LNR mortgage notes payable [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Maturity Date Range, Start	2011
Debt Instrument, Maturity Date Range, End	2043
Debt Instrument, Interest Rate at Period End	5.75%
Equity Method Investment Debt Of Partially Owned Entities	$ 366,069,000	508,547,000
LNR [Member] \| Liabilities of consolidated CMBS and CDO trusts [Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Interest Rate at Period End	6.06%
Equity Method Investment Debt Of Partially Owned Entities	$ 142,197,352,000	142,001,333,000
Partially owned office buildings [Member] \| Warner Building [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	55.00%
Debt Instrument Maturity Date (String)	05/16
Debt Instrument, Interest Rate at Period End	6.26%
Equity Method Investment Debt Of Partially Owned Entities	$ 292,700,000	292,700,000
Partially owned office buildings [Member] \| Madison Avenue Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	25.00%
Debt Instrument Maturity Date (String)	06/15
Debt Instrument, Interest Rate at Period End	1.81%
Equity Method Investment Debt Of Partially Owned Entities	$ 150,000,000	150,000,000
Partially owned office buildings [Member] \| Kaempfer Properties Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Maturity Date Range, Start	11/11
Debt Instrument, Maturity Date Range, End	12/11
Debt Instrument, Interest Rate at Period End	5.86%
Equity Method Investment Debt Of Partially Owned Entities	$ 138,705,000	139,337,000
Partially owned office buildings [Member] \| Kaempfer 1st Partnership 2.5% [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	2.50%
Partially owned office buildings [Member] \| Kaempfer 2nd Partnership 5.0% [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	5.00%
Partially owned office buildings [Member] \| Fairfax Square Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	20.00%
Debt Instrument Maturity Date (String)	12/14
Debt Instrument, Interest Rate at Period End	7.00%
Equity Method Investment Debt Of Partially Owned Entities	$ 71,571,000	71,764,000
Partially owned office buildings [Member] \| Rosslyn Plaza Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	46.00%
Debt Instrument Maturity Date (String)	12/11
Debt Instrument, Interest Rate at Period End	1.30%
Equity Method Investment Debt Of Partially Owned Entities	$ 56,680,000	56,680,000
Partially owned office buildings [Member] \| West 34th Street Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	34.80%
Debt Instrument Maturity Date (String)	07/22
Debt Instrument, Interest Rate at Period End	5.71%
Equity Method Investment Debt Of Partially Owned Entities	$ 50,150,000	50,150,000
Partially owned office buildings [Member] \| West 57th Street Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	50.00%
Debt Instrument Maturity Date (String)	02/14
Debt Instrument, Interest Rate at Period End	4.94%
Equity Method Investment Debt Of Partially Owned Entities	$ 22,720,000	22,922,000
Partially owned office buildings [Member] \| Seventh Avenue Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	50.00%
Debt Instrument Maturity Date (String)	10/14
Debt Instrument, Interest Rate at Period End	8.07%
Equity Method Investment Debt Of Partially Owned Entities	$ 20,447,000	20,565,000
India real estate ventures [Member] \| Tcg Urban Infrastructure Holdings Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	25.00%
Debt Instrument, Maturity Date Range, Start	2011
Debt Instrument, Maturity Date Range, End	2022
Debt Instrument, Interest Rate at Period End	13.88%
Equity Method Investment Debt Of Partially Owned Entities	$ 202,029,000	196,319,000
India real estate ventures [Member] \| India Property Fund Lp Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	36.50%
Other equity method investments [Member] \| Verde Realty Operating Partnership Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	8.30%
Debt Instrument, Maturity Date Range, Start	2011
Debt Instrument, Maturity Date Range, End	2025
Debt Instrument, Interest Rate at Period End	5.91%
Equity Method Investment Debt Of Partially Owned Entities	$ 564,270,000	581,086,000
Other equity method investments [Member] \| Green Courte Real Estate Partners Llc Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	8.30%
Debt Instrument, Maturity Date Range, Start	2011
Debt Instrument, Maturity Date Range, End	2018
Debt Instrument, Interest Rate at Period End	5.50%
Equity Method Investment Debt Of Partially Owned Entities	$ 296,991,000	296,991,000
Other equity method investments [Member] \| Waterfront Associates Llc Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	2.50%
Debt Instrument Maturity Date (String)	09/11
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.0226
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	0.0376
Equity Method Investment Debt Of Partially Owned Entities	$ 219,442,000	217,106,000
Equity Method Investment Debt Of Partially Owned Entities Maximum Borrowing Capacity	$ 250,000,000
Other equity method investments [Member] \| Monmouth Mall Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	50.00%
Debt Instrument Maturity Date (String)	09/15
Debt Instrument, Interest Rate at Period End	5.44%
Equity Method Investment Debt Of Partially Owned Entities	$ 163,917,000	164,474,000
Other equity method investments [Member] \| Wells Kinzie Garage Member
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	50.00%
Debt Instrument Maturity Date (String)	12/17
Debt Instrument, Interest Rate at Period End	5.00%
Equity Method Investment Debt Of Partially Owned Entities	$ 14,977,000	15,022,000
Other equity method investments [Member] \| Orleans Hubbard Garage [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Equity method ownership percentage	50.00%
Debt Instrument Maturity Date (String)	12/17
Debt Instrument, Interest Rate at Period End	5.00%
Equity Method Investment Debt Of Partially Owned Entities	$ 9,480,000	9,508,000
Other equity method investments [Member] \| Other Equity Method Investments Other [Member]
Schedule Of Long Term Debt Equity Method Investments [Line Items]
Debt Instrument, Interest Rate at Period End	5.39%
Equity Method Investment Debt Of Partially Owned Entities	$ 417,553,000	$ 418,339,000

Investments in Partially Owned Entities (Parentheticals) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2008
Toys R Us [Member]
Statement [Line Items]
Gain Loss Related To Litigation Settlement		$ 0
Lexington Realty Trust [Member]
Statement [Line Items]
Gain on Stock Issuance	$ 1,452	5,998
Prior Period Non Cash Impairment Charges			$ 107,882
Impairment loss		0
Downtown Crossing [Member]
Statement [Line Items]
Lease termination payment		$ 0

Mezzanine Loans Receivable (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended
	Mar. 02, 2011	Mar. 31, 2011	Dec. 31, 2010
Statement [Line Items]
Valuation allowance		$ 0	$ (73,216)
Notes receivable, net		140,567	202,412
Tharaldson Lodging Companies [Member]
Statement [Line Items]
Notes receivable, net	$ 60,416
Gain Loss On Sale Of Notes Receivable	10,474
Proceeds From Sale Of Notes Receivable	$ 70,848
Park Avenue Member
Statement [Line Items]
Notes receivable, net			$ 1,480
Face Amount Of Mezzanine Loan Contributed To Joint Venture		73,750
Income From Reversal Of Loan Loss Reserve		63,145
Interest Income On Notes Receivable Previously Unrecognized		9,125
Income From Reversal of Loan Loss Reserve and Recognition of Previously Unrecognized Interest Income		$ 72,270

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
Discontinued Operations (Details) - USD ($) $ in Thousands	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Disposal Group Not Discontinued Operation Income Statement Disclosures Abstract
Total revenues	$ 5,987	$ 11,021
Total expenses	6,744	10,535
Operating Income from Discontinued Operations	(757)	486
Disposal Group Including Discontinued Operation Litigation Loss Accruals Impairments	0	(10,056)
Income (loss) from discontinued operations	134,315	(9,570)
Disposal Group Including Discontinued Operation Unclassified Balance Sheet Disclosures Abstract
Assets related to discontinued operations	0		$ 234,464
Liabilities related to discontinued operations	0		255,922
Other real estate [Member]
Disposal Group Including Discontinued Operation Additional Disclosures Abstract
Cash Sale of Real Estate	38,711
Gain (Loss) from Disposal of real estate	5,303	0
Disposal Group Not Discontinued Operation Income Statement Disclosures Abstract
Net gains on sale of real estate	5,303	0
Washington DC1140 Connecticut Avenue [Member]
Disposal Group Including Discontinued Operation Unclassified Balance Sheet Disclosures Abstract
Assets related to discontinued operations	0		36,271
Liabilities related to discontinued operations	0		18,948
Washington DC1227 Twenty Fifth Street [Member]
Disposal Group Including Discontinued Operation Unclassified Balance Sheet Disclosures Abstract
Assets related to discontinued operations	0		43,630
Liabilities related to discontinued operations	0		0
High Point Complex [Member]
Disposal Group Not Discontinued Operation Income Statement Disclosures Abstract
Net gain on extinguishment of debt	83,907	0
Disposal Group Including Discontinued Operation Unclassified Balance Sheet Disclosures Abstract
Assets related to discontinued operations	0		154,563
Liabilities related to discontinued operations	0		$ 236,974
Washington DC 1140 Connecticut Avenue and 1227 Twenty Fifth Street
Disposal Group Including Discontinued Operation Additional Disclosures Abstract
Cash Sale of Real Estate	127,000
Gain (Loss) from Disposal of real estate	45,862	0
Disposal Group Not Discontinued Operation Income Statement Disclosures Abstract
Net gains on sale of real estate	$ 45,862	$ 0

Identified Intangible Assets and Intangible Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Finite Lived Intangible Assets [Line Items]
Identified intangible assets (included in other assets): Gross	$ 683,374		$ 687,253
Identified intangible assets (included in other assets): Accumulated amortization	(350,104)		(338,508)
Finite-Lived Intangible Assets, Net, Total	333,270		348,745
Identified intangible liabilities (included in deferred credit): Gross	883,451		870,623
Identified intangible liabilities (included in deferred credit): Accumulated amortization	(358,794)		(341,718)
Identified intangible liabilities (included in deferred credit): Net	524,657		$ 528,905
Below Market Leases Net Of Above Market Leases [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	16,759	$ 15,771
Future Amortization Expense, Year One	52,016
Future Amortization Expense, Year Two	44,087
Future Amortization Expense, Year Three	38,236
Future Amortization Expense, Year Four	35,472
Future Amortization Expense, Year Five	32,093
Other Identified Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	14,262	14,853
Future Amortization Expense, Year One	44,777
Future Amortization Expense, Year Two	37,281
Future Amortization Expense, Year Three	18,885
Future Amortization Expense, Year Four	13,929
Future Amortization Expense, Year Five	11,325
Tenant Under Ground Leases [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	314	$ 509
Future Amortization Expense, Year One	1,256
Future Amortization Expense, Year Two	1,256
Future Amortization Expense, Year Three	1,256
Future Amortization Expense, Year Four	1,256
Future Amortization Expense, Year Five	$ 1,256

Debt (Details) $ in Thousands	3 Months Ended
Debt (Details) $ in Thousands	Mar. 31, 2011 USD ($)	Jul. 31, 2011	Feb. 11, 2011 USD ($)	Feb. 10, 2011 USD ($)	Jan. 31, 2011 USD ($)	Jan. 18, 2011 USD ($)	Jan. 10, 2011 USD ($)	Dec. 31, 2010 USD ($)
Statement [Line Items]
Notes and mortgages payable	$ 8,594,920							$ 8,259,298
Senior unsecured notes	982,588							1,082,928
Exchangeable senior debentures	492,690							491,000
Convertible senior debentures	187,198							186,413
Revolving credit facility debt	$ 374,000							874,000
Notes And Mortgages Payable Fixed Rate [Member]
Statement [Line Items]
Interest Rate, End of Period	5.61%
Notes and mortgages payable	$ 6,746,649							6,253,038
Notes And Mortgages Payable Fixed Rate [Member] \| Retail Other [Member]
Statement [Line Items]
Maturity, Range, End	05/36
Maturity, Range, Start	03/12
Interest Rate, Range, Minimum	0.051
Interest Rate, Range, Maximum	0.0733
Notes and mortgages payable	$ 100,870							101,251
Notes And Mortgages Payable Fixed Rate [Member] \| Retail Las Catalinas Mall [Member]
Statement [Line Items]
Debt Instrument Maturity	11/13
Interest Rate, End of Period	6.97%
Notes and mortgages payable	$ 57,328							57,737
Notes And Mortgages Payable Fixed Rate [Member] \| Retail 828-850 Madison Avenue Condominium [Member]
Statement [Line Items]
Debt Instrument Maturity	06/18
Interest Rate, End of Period	5.29%
Notes and mortgages payable	$ 80,000							80,000
Notes And Mortgages Payable Fixed Rate [Member] \| Retail Broadway Mall [Member]
Statement [Line Items]
Debt Instrument Maturity	07/13
Interest Rate, End of Period	5.30%
Notes and mortgages payable	$ 89,598							90,227
Notes And Mortgages Payable Fixed Rate [Member] \| Retail Montehiedra Town Center [Member]
Statement [Line Items]
Debt Instrument Maturity	07/16
Interest Rate, End of Period	6.04%
Notes and mortgages payable	$ 120,000							120,000
Notes And Mortgages Payable Fixed Rate [Member] \| Retail 510 5th Avenue [Member]
Statement [Line Items]
Debt Instrument Maturity	01/16
Interest Rate, End of Period	5.60%
Notes and mortgages payable	$ 32,071							32,189
Notes And Mortgages Payable Fixed Rate [Member] \| Retail North Bergen Tonnelle Avenue [Member]
Statement [Line Items]
Debt Instrument Maturity	01/18
Interest Rate, End of Period	4.59%
Notes and mortgages payable	$ 75,000							0
Notes And Loans Payable Financing Amount							$ 75,000
Debt Amortization Period							25
Notes And Mortgages Payable Fixed Rate [Member] \| Other Industrial Warehouses [Member]
Statement [Line Items]
Debt Instrument Maturity	10/11
Interest Rate, End of Period	6.95%
Notes and mortgages payable	$ 24,271							24,358
Notes And Mortgages Payable Fixed Rate [Member] \| Other 555 California Street [Member]
Statement [Line Items]
Debt Instrument Maturity	09/11
Interest Rate, End of Period	5.79%
Notes and mortgages payable	$ 641,551							640,911
Notes And Mortgages Payable Fixed Rate [Member] \| Other Borgata Land [Member]
Statement [Line Items]
Debt Instrument Maturity	02/21
Interest Rate, End of Period	5.14%
Notes and mortgages payable	$ 60,000							0
Notes And Loans Payable Financing Amount					$ 60,000
Debt Amortization Period					30
Notes And Mortgages Payable Fixed Rate [Member] \| Merchandise Mart Washington Design Center [Member]
Statement [Line Items]
Debt Instrument Maturity	11/11
Interest Rate, End of Period	6.95%
Notes and mortgages payable	$ 43,227							43,447
Notes And Mortgages Payable Fixed Rate [Member] \| Merchandise Mart Boston Design Center [Member]
Statement [Line Items]
Debt Instrument Maturity	09/15
Interest Rate, End of Period	5.02%
Notes and mortgages payable	$ 68,235							68,538
Notes And Mortgages Payable Fixed Rate [Member] \| Merchandise Mart Merchandise Mart [Member]
Statement [Line Items]
Debt Instrument Maturity	12/16
Interest Rate, End of Period	5.57%
Notes and mortgages payable	$ 550,000							550,000
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office 1800, 1851 And 1901 South Bell Street [Member]
Statement [Line Items]
Debt Instrument Maturity	12/11
Interest Rate, End of Period	6.91%
Notes and mortgages payable	$ 7,658							10,099
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office 1225 Clark Street [Member]
Statement [Line Items]
Debt Instrument Maturity	08/13
Interest Rate, End of Period	7.08%
Notes and mortgages payable	$ 27,389							27,616
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office 2011 Crystal Drive [Member]
Statement [Line Items]
Debt Instrument Maturity	08/17
Interest Rate, End of Period	7.30%
Notes and mortgages payable	$ 81,221							81,362
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office 1750 Pennsylvania Avenue [Member]
Statement [Line Items]
Debt Instrument Maturity	06/12
Interest Rate, End of Period	7.26%
Notes and mortgages payable	$ 44,926							45,132
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office 2231 Crystal Drive [Member]
Statement [Line Items]
Debt Instrument Maturity	08/13
Interest Rate, End of Period	7.08%
Notes and mortgages payable	$ 45,790							46,358
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office 1235 Clark Street [Member]
Statement [Line Items]
Debt Instrument Maturity	07/12
Interest Rate, End of Period	6.75%
Notes and mortgages payable	$ 52,057							52,314
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office Universal Buildings [Member]
Statement [Line Items]
Debt Instrument Maturity	04/14
Interest Rate, End of Period	6.38%
Notes and mortgages payable	$ 102,119							103,049
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office 1550 And 1750 Crystal Drive [Member]
Statement [Line Items]
Debt Instrument Maturity	11/14
Interest Rate, End of Period	7.08%
Notes and mortgages payable	$ 78,782							79,411
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office Reston Executive I, II, And III [Member]
Statement [Line Items]
Debt Instrument Maturity	01/13
Interest Rate, End of Period	5.57%
Notes and mortgages payable	$ 93,000							93,000
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office Bowen Building [Member]
Statement [Line Items]
Debt Instrument Maturity	06/16
Interest Rate, End of Period	6.14%
Notes and mortgages payable	$ 115,022							115,022
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office 1215 Clark Street, 200 12th Street And 251 18th Street [Member]
Statement [Line Items]
Debt Instrument Maturity	01/25
Interest Rate, End of Period	7.09%
Notes and mortgages payable	$ 110,509							110,931
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office River House Apartments [Member]
Statement [Line Items]
Debt Instrument Maturity	04/15
Interest Rate, End of Period	5.43%
Notes and mortgages payable	$ 195,546							195,546
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office Skyline Place [Member]
Statement [Line Items]
Debt Instrument Maturity	02/17
Interest Rate, End of Period	5.74%
Notes and mortgages payable	$ 678,000							678,000
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office 220 20th Street [Member]
Statement [Line Items]
Debt Instrument Maturity	02/18
Interest Rate, End of Period	4.61%					4.61%
Notes and mortgages payable	$ 75,982							0
Notes And Loans Payable Financing Amount						$ 76,100
Debt Amortization Period						30
Notes And Mortgages Payable Fixed Rate [Member] \| Washington Dc Office2121 Crystal Drive [Member]
Statement [Line Items]
Debt Instrument Maturity	03/23
Interest Rate, End of Period	5.51%
Notes and mortgages payable	$ 150,000							0
Notes And Loans Payable Financing Amount				$ 150,000
Debt Amortization Period				30
Notes And Mortgages Payable Fixed Rate [Member] \| New York Office Eleven Penn Plaza [Member]
Statement [Line Items]
Debt Instrument Maturity	12/11
Interest Rate, End of Period	5.20%
Notes and mortgages payable	$ 198,282							199,320
Notes And Mortgages Payable Fixed Rate [Member] \| New York Office 909 Third Avenue [Member]
Statement [Line Items]
Debt Instrument Maturity	04/15
Interest Rate, End of Period	5.64%
Notes and mortgages payable	$ 206,069							207,045
Notes And Mortgages Payable Fixed Rate [Member] \| New York Office Two Penn Plaza [Member]
Statement [Line Items]
Debt Instrument Maturity	03/18
Interest Rate, End of Period	5.13%
Notes and mortgages payable	$ 425,000							277,347
Swapped Loan Spread Over Libor			2.00%
Notes And Loans Payable Refinanced Amount			$ 425,000
Retained Proceeds From Refinancing			$ 139,000
Debt Amortization Period			30
Notes And Mortgages Payable Fixed Rate [Member] \| New York Office 888 Seventh Avenue [Member]
Statement [Line Items]
Debt Instrument Maturity	01/16
Interest Rate, End of Period	5.71%
Notes and mortgages payable	$ 318,554							318,554
Notes And Mortgages Payable Fixed Rate [Member] \| New York Office 770 Broadway [Member]
Statement [Line Items]
Debt Instrument Maturity	03/16
Interest Rate, End of Period	5.65%
Notes and mortgages payable	$ 353,000							353,000
Notes And Mortgages Payable Fixed Rate [Member] \| New York Office 350 Park Avenue [Member]
Statement [Line Items]
Debt Instrument Maturity	01/12
Interest Rate, End of Period	5.48%
Notes and mortgages payable	$ 430,000							430,000
Notes And Mortgages Payable Fixed Rate [Member] \| New York Office 1290 Avenue Of Americas Member
Statement [Line Items]
Debt Instrument Maturity	01/13
Interest Rate, End of Period	5.97%
Notes and mortgages payable	$ 421,345							424,136
Notes And Mortgages Payable Fixed Rate [Member] \| Retail Cross Collateralized Mortgages On 40 Strip Shopping Centers [Member]
Statement [Line Items]
Debt Instrument Maturity	09/20
Interest Rate, End of Period	4.19%
Notes and mortgages payable	$ 594,247							597,138
Notes And Mortgages Payable Variable Rate [Member]
Statement [Line Items]
Interest Rate, End of Period	2.23%
Notes and mortgages payable	$ 1,848,271							2,006,260
Notes And Mortgages Payable Variable Rate [Member] \| Other Other [Member]
Statement [Line Items]
Debt Instrument Maturity	11/11
Spread Over LIBOR	2.50%
Interest Rate, End of Period	2.80%
Notes and mortgages payable	$ 22,400							66,267
Notes And Mortgages Payable Variable Rate [Member] \| Other 220 Central Park South [Member]
Statement [Line Items]
Debt Instrument Maturity	10/11
Spread Over LIBOR Minimum	2.35%
Spread Over LIBOR Maximum	2.45%
Interest Rate, End of Period	2.65%
Notes and mortgages payable	$ 123,750							123,750
Notes And Mortgages Payable Variable Rate [Member] \| Retail 435 Seventh Avenue [Member]
Statement [Line Items]
Debt Instrument Maturity	08/14
Spread Over LIBOR	3.00%
Interest Rate, End of Period	5.00%
Notes and mortgages payable	$ 51,725							51,844
LIBOR Floor	2.00%
Notes And Mortgages Payable Variable Rate [Member] \| Retail 4 Union Square South [Member]
Statement [Line Items]
Debt Instrument Maturity	04/14
Spread Over LIBOR	3.25%
Interest Rate, End of Period	3.56%
Notes and mortgages payable	$ 75,000							75,000
Notes And Mortgages Payable Variable Rate [Member] \| Retail Beverly Connection [Member]
Statement [Line Items]
Debt Instrument Maturity	07/12
Spread Over LIBOR	3.50%
Interest Rate, End of Period	5.00%
Notes and mortgages payable	$ 100,000							100,000
Future Increased Decreased Spread Over Libor		5.00%
LIBOR Floor	1.50%
Notes And Mortgages Payable Variable Rate [Member] \| Retail Bergen Town Center [Member]
Statement [Line Items]
Debt Instrument Maturity	03/13
Spread Over LIBOR	1.50%
Interest Rate, End of Period	1.79%
Notes and mortgages payable	$ 279,044							279,044
Notes And Mortgages Payable Variable Rate [Member] \| Retail Green Acres Mall [Member]
Statement [Line Items]
Debt Instrument Maturity	02/13
Spread Over LIBOR	1.40%
Interest Rate, End of Period	1.75%
Notes and mortgages payable	$ 325,045							335,000
Notes And Mortgages Payable Variable Rate [Member] \| Retail Other [Member]
Statement [Line Items]
Debt Instrument Maturity	11/12
Spread Over LIBOR	3.75%
Interest Rate, End of Period	4.02%
Notes and mortgages payable	$ 22,108							21,862
Notes And Mortgages Payable Variable Rate [Member] \| Retail San Jose Strip Centre [Member]
Statement [Line Items]
Debt Instrument Maturity	03/13
Spread Over LIBOR	4.00%
Interest Rate, End of Period	4.32%
Notes and mortgages payable	$ 118,285							120,863
Notes And Mortgages Payable Variable Rate [Member] \| Washington DC Office 1101 17th, 1140 Connecticut, 1730 M And 1150 17th Street [Member]
Statement [Line Items]
Debt Instrument Maturity	06/14
Spread Over LIBOR	1.40%
Interest Rate, End of Period	1.66%
Notes and mortgages payable	$ 43,580							43,581
Notes And Mortgages Payable Variable Rate [Member] \| Washington DC Office River House Apartments [Member]
Statement [Line Items]
Debt Instrument Maturity	04/18
Interest Rate, End of Period	1.62%
Notes and mortgages payable	$ 64,000							64,000
Spread Over Prime Rate	1.53%
Notes And Mortgages Payable Variable Rate [Member] \| Washington DC 2200/2300 Clarendon Boulevard [Member]
Statement [Line Items]
Debt Instrument Maturity	01/15
Spread Over LIBOR	0.75%
Interest Rate, End of Period	1.01%
Notes and mortgages payable	$ 57,802							59,278
Notes And Mortgages Payable Variable Rate [Member] \| Washington DC Office 220 20th Street [Member]
Statement [Line Items]
Notes and mortgages payable	$ 0							83,573
Notes And Mortgages Payable Variable Rate [Member] \| Washington DC Office West End 25 [Member]
Statement [Line Items]
Debt Instrument Maturity	08/11
Interest Rate, End of Period	2.75%
Notes and mortgages payable	$ 78,554							95,220
Spread Over Prime Rate	0.50%
Notes And Mortgages Payable Variable Rate [Member] \| Washington DC Office 2101 L Street [Member]
Statement [Line Items]
Debt Instrument Maturity	02/13
Spread Over LIBOR	1.20%
Interest Rate, End of Period	1.45%
Notes and mortgages payable	$ 150,000							150,000
Notes And Mortgages Payable Variable Rate [Member] \| New York Office 866 UN Plaza [Member]
Statement [Line Items]
Debt Instrument Maturity	05/11
Spread Over LIBOR	0.40%
Interest Rate, End of Period	0.71%
Notes and mortgages payable	$ 44,978							44,978
Notes And Mortgages Payable Variable Rate [Member] \| New York Office Manhattan Mall [Member]
Statement [Line Items]
Debt Instrument Maturity	02/12
Spread Over LIBOR	0.55%
Interest Rate, End of Period	0.82%
Notes and mortgages payable	$ 232,000							232,000
Notes And Mortgages Payable Variable Rate [Member] \| Retail Cross Collateralized Mortgages On 40 Strip Shopping Centers [Member]
Statement [Line Items]
Debt Instrument Maturity	09/20
Spread Over LIBOR	1.36%
Interest Rate, End of Period	2.36%
Notes and mortgages payable	$ 60,000							60,000
LIBOR Floor	1.00%
Total Notes And Mortgages Payable Member Member
Statement [Line Items]
Interest Rate, End of Period	4.88%
Senior Unsecured Notes [Member]
Statement [Line Items]
Interest Rate, End of Period	5.90%
Senior Unsecured Notes [Member] \| Senior Unsecured Notes Due 2011 [Member]
Statement [Line Items]
Senior unsecured notes	$ 0							100,382
Senior Unsecured Notes [Member] \| Senior Unsecured Notes Due 2039 [Member]
Statement [Line Items]
Debt Instrument Maturity	10/39
Interest Rate, End of Period	7.88%
Senior unsecured notes	$ 460,000							460,000
Senior Unsecured Notes [Member] \| Senior Unsecured Notes Due 2015 [Member]
Statement [Line Items]
Debt Instrument Maturity	04/15
Interest Rate, End of Period	4.25%
Senior unsecured notes	$ 499,338							499,296
Senior Unsecured Notes [Member] \| Floating Rate Senior Unsecured Notes Due 2011 [Member]
Statement [Line Items]
Debt Instrument Maturity	12/11
Spread Over LIBOR	2.00%
Interest Rate, End of Period	2.30%
Senior unsecured notes	$ 23,250							$ 23,250
Exchangeable Senior Debentures [Member] \| Exchangeable Senior Debenture 3.88% Due 2025 [Member]
Statement [Line Items]
Debt Instrument Maturity	04/12
Interest Rate, End of Period	5.32%							5.32%
Convertible Senior Debentures [Member]
Statement [Line Items]
Interest Rate, End of Period	5.33%
Convertible Senior Debentures [Member] \| Convertible Senior Debenture 3.63% Due 2026 [Member]
Statement [Line Items]
Debt Instrument Maturity	11/11
Interest Rate, End of Period	5.32%							5.32%
Convertible senior debentures	$ 177,221							$ 176,499
Convertible Senior Debentures [Member] \| Convertible Senior Debenture 2.85% Due 2027 [Member]
Statement [Line Items]
Debt Instrument Maturity	04/12
Interest Rate, End of Period	5.45%							5.45%
Convertible senior debentures	$ 9,977							$ 9,914
Unsecured Revolving Credit Facilities [Member]
Statement [Line Items]
Interest Rate, End of Period	0.79%
Unsecured Revolving Credit Facilities [Member] \| Unsecured Revolving Credit Facility $1.595 Billion [Member]
Statement [Line Items]
Debt Instrument Maturity	09/12
Spread Over LIBOR	0.55%
Interest Rate, End of Period	0.79%
Revolving credit facility debt	$ 324,000							669,000
Unsecured Revolving Credit Facilities [Member] \| Unsecured Revolving Credit Facility 965 Billion Member
Statement [Line Items]
Debt Instrument Maturity	06/11
Spread Over LIBOR	0.55%
Interest Rate, End of Period	0.79%
Revolving credit facility debt	$ 50,000							$ 205,000

Debt (Parentheticals) (Details)	3 Months Ended
Debt (Parentheticals) (Details)	Mar. 31, 2011	Jan. 18, 2011	Dec. 31, 2010
Unsecured Revolving Credit Facilities [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	0.79%
Unsecured Revolving Credit Facilities [Member] \| Unsecured Revolving Credit Facility $1.595 Billion [Member]
Statement [Line Items]
Spread Over LIBOR	0.55%
Debt Instrument, Interest Rate at Period End	0.79%
Unsecured Revolving Credit Facilities [Member] \| Unsecured Revolving Credit Facility 965 Billion Member
Statement [Line Items]
Spread Over LIBOR	0.55%
Debt Instrument, Interest Rate at Period End	0.79%
Convertible Senior Debentures [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.33%
Convertible Senior Debentures [Member] \| Convertible Senior Debenture 3.63% Due 2026 [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.32%		5.32%
Convertible Senior Debentures [Member] \| Convertible Senior Debenture 2.85% Due 2027 [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.45%		5.45%
Exchangeable Senior Debentures [Member] \| Exchangeable Senior Debenture 3.88% Due 2025 [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.32%		5.32%
Senior Unsecured Notes [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.90%
Senior Unsecured Notes [Member] \| Senior Unsecured Notes Due 2015 [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	4.25%
Senior Unsecured Notes [Member] \| Senior Unsecured Notes Due 2039 [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	7.88%
Notes And Mortgages Payable Variable Rate [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	2.23%
Notes And Mortgages Payable Variable Rate [Member] \| Washington DC Office 1101 17th, 1140 Connecticut, 1730 M And 1150 17th Street [Member]
Statement [Line Items]
Spread Over LIBOR	1.40%
Debt Instrument, Interest Rate at Period End	1.66%
Notes And Mortgages Payable Variable Rate [Member] \| Washington DC Office River House Apartments [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	1.62%
Notes And Mortgages Payable Variable Rate [Member] \| Retail Cross Collateralized Mortgages On 40 Strip Shopping Centers [Member]
Statement [Line Items]
Spread Over LIBOR	1.36%
LIBOR Floor	1.00%
Debt Instrument, Interest Rate at Period End	2.36%
Notes And Mortgages Payable Variable Rate [Member] \| Retail Beverly Connection [Member]
Statement [Line Items]
Spread Over LIBOR	3.50%
LIBOR Floor	1.50%
Debt Instrument, Interest Rate at Period End	5.00%
Notes And Mortgages Payable Variable Rate [Member] \| Retail 435 Seventh Avenue [Member]
Statement [Line Items]
Spread Over LIBOR	3.00%
LIBOR Floor	2.00%
Debt Instrument, Interest Rate at Period End	5.00%
Notes And Mortgages Payable Variable Rate [Member] \| Retail Other [Member]
Statement [Line Items]
Spread Over LIBOR	3.75%
Debt Instrument, Interest Rate at Period End	4.02%
Notes And Mortgages Payable Variable Rate [Member] \| Other Other [Member]
Statement [Line Items]
Spread Over LIBOR	2.50%
Debt Instrument, Interest Rate at Period End	2.80%
Notes And Mortgages Payable Variable Rate [Member] \| Washington DC Office West End 25 [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	2.75%
Notes And Mortgages Payable Fixed Rate [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.61%
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office River House Apartments [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.43%
Notes And Mortgages Payable Fixed Rate [Member] \| Retail Cross Collateralized Mortgages On 40 Strip Shopping Centers [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	4.19%
Notes And Mortgages Payable Fixed Rate [Member] \| Retail Other [Member]
Statement [Line Items]
Maturity, Range, Start	03/12
Maturity, Range, End	05/36
Notes And Mortgages Payable Fixed Rate [Member] \| New York Office Two Penn Plaza [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.13%
Notes And Mortgages Payable Fixed Rate [Member] \| Washington Dc Office2121 Crystal Drive [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.51%
Notes And Mortgages Payable Fixed Rate [Member] \| Retail North Bergen Tonnelle Avenue [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	4.59%
Notes And Mortgages Payable Fixed Rate [Member] \| Washington DC Office 220 20th Street [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	4.61%	4.61%
Notes And Mortgages Payable Fixed Rate [Member] \| Other Borgata Land [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.14%

Debt (Convertible and Exchangeable) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Convertible Senior Debentures [Member]
Statement [Line Items]
Debt Instrument, Interest Rate at Period End	5.33%
Convertible Senior Debentures [Member] \| Convertible Senior Debenture 2.85% Due 2027 [Member]
Statement [Line Items]
Principal Amount of Debt Component	$ 10,233		$ 10,233
Unamortized discount	(256)		(319)
Carrying amount of debt component	9,977		9,914
Debt Instrument, Convertible, Carrying Amount of Equity Component	$ 956		$ 956
Debt Instrument, Interest Rate at Period End	5.45%		5.45%
Debt Instrument Maturity	04/12
Debt Instrument Convertible Conversion Price Per Share	$ 157.18
Number Of Shares On Which Aggregate Consideration To Be Delivered Upon Conversion Is Determined	65
Coupon Interest Of Debt (Discount) Premium	$ 73	$ 160
Discount Amortization Original Of Debt (Discount) Premium	11	23
Discount Amortization ASC470-20 Of Debt (Discount) Premium	52	106
Amortization of Debt Discount (Premium)	136	289
Convertible Senior Debentures [Member] \| Convertible Senior Debenture 3.63% Due 2026 [Member]
Statement [Line Items]
Principal Amount of Debt Component	179,052		$ 179,052
Unamortized discount	(1,831)		(2,553)
Carrying amount of debt component	177,221		176,499
Debt Instrument, Convertible, Carrying Amount of Equity Component	$ 9,604		$ 9,604
Debt Instrument, Interest Rate at Period End	5.32%		5.32%
Debt Instrument Maturity	11/11
Debt Instrument Convertible Conversion Price Per Share	$ 148.46
Number Of Shares On Which Aggregate Consideration To Be Delivered Upon Conversion Is Determined	1,206
Coupon Interest Of Debt (Discount) Premium	$ 1,623	3,963
Discount Amortization Original Of Debt (Discount) Premium	196	455
Discount Amortization ASC470-20 Of Debt (Discount) Premium	526	1,219
Amortization of Debt Discount (Premium)	2,345	5,637
Exchangeable Senior Debentures [Member] \| Exchangeable Senior Debenture 3.88% Due 2025 [Member]
Statement [Line Items]
Principal Amount of Debt Component	499,982		$ 499,982
Unamortized discount	(7,292)		(8,982)
Carrying amount of debt component	492,690		491,000
Debt Instrument, Convertible, Carrying Amount of Equity Component	$ 32,301		$ 32,301
Debt Instrument, Interest Rate at Period End	5.32%		5.32%
Debt Instrument Maturity	04/12
Debt Instrument Convertible Conversion Price Per Share	$ 87.17
Number Of Shares On Which Aggregate Consideration To Be Delivered Upon Conversion Is Determined	5,736
Coupon Interest Of Debt (Discount) Premium	$ 4,844	4,844
Discount Amortization Original Of Debt (Discount) Premium	399	379
Discount Amortization ASC470-20 Of Debt (Discount) Premium	1,291	1,225
Amortization of Debt Discount (Premium)	$ 6,534	$ 6,448

Redeemable Noncontrolling Interests (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010	Dec. 31, 2009
Redeemable Noncontrolling Interest [Line Items]
Redeemable Noncontrolling Interest Balance	$ 1,366,520	$ 1,339,748	$ 1,327,974	$ 1,251,628
Net income	31,808	17,779
Distributions	(12,702)	(13,082)
Conversion of Class A redeemable units into common shares, at redemption value	(27,539)	(18,128)
Adjustment to carry Class A redeemable units at redemption value	42,227	104,247
Other, net	4,752	1,304
Fair value of Series G convertible preferred units and Series D-13 cumulative redeemable preferred units	55,097
Cumulative Redeemable Preferred Units Redemption Amount		$ (4,000)
Common Class A [Member]
Redeemable Noncontrolling Interest [Line Items]
Class A Units redemption value	$ 1,105,520		$ 1,066,974
Series D12 Cumulative Redeemable Preferred Unit [Member]
Redeemable Noncontrolling Interest [Line Items]
Cumulative Redeemable Preferred units redeemed		246,153
Cumulative Redeemable Preferred Units Redemption Price Per Unit		$ 16.25
Cumulative Redeemable Preferred Units Redemption Amount		$ 4,000
Net Gain On Redemption Of Cumulative Redeemable Preferred Units		$ 2,154

Shareholders Equity (Details) $ in Thousands		3 Months Ended
Shareholders Equity (Details) $ in Thousands	Apr. 21, 2011 USD ($) $ / shares shares	Mar. 31, 2011 USD ($) $ / shares shares	Dec. 31, 2010 USD ($) shares
Class Of Stock [Line Items]
Preferred shares of beneficial interest: outstanding shares		32,339,009	32,340,009
Preferred shares of beneficial interest: authorized shares		110,000,000	110,000,000
Preferred shares of beneficial interest: issued shares		32,339,009	32,340,009
Preferred Stock, Value, Issued \| $		$ 782,933	$ 783,088
Series J Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share \| $ / shares	$ 25.00
Preferred shares of beneficial interest: issued shares	8,050,000
PreferredStockDividendRateDollarPerShare \| $ / shares		6.875
Proceeds From Issuance Of Preferred Stock And Preference Stock \| $	$ 194,736
Preferred Stock Redemption Price Per Share \| $ / shares	$ 25.00
Series J Preferred Stock [Member] \| Public Offering [Member]
Class Of Stock [Line Items]
Preferred shares of beneficial interest: issued shares	7,000,000
Preferred Stock, Value, Issued \| $	$ 175,000
Series J Preferred Stock [Member] \| Over Allotment [Member]
Class Of Stock [Line Items]
Preferred shares of beneficial interest: issued shares	1,050,000

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010	Dec. 31, 2009
Statement [Line Items]
Marketable securities	$ 821,920		$ 766,116
Derivative Assets	34,779		17,616
Deferred Compensation Plan Assets	97,951		91,549
Real Estate Fund investments	230,657		144,423
Total assets	1,185,307		1,019,704
Mandatorily redeemable instruments (included in other liabilities)	55,097		55,097
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Mezzanine loans receivable	140,567		202,412
Notes and mortgages payable	8,594,920		8,259,298
Senior unsecured notes	982,588		1,082,928
Exchangeable senior debentures	492,690		491,000
Convertible senior debentures	187,198		186,413
Revolving credit facility debt	374,000		874,000
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Mezzanine loans receivable	135,330		197,581
Notes and mortgages payable	8,857,040		8,450,812
Senior unsecured notes	1,033,680		1,119,512
Exchangeable senior debentures	558,105		554,355
Convertible senior debentures	191,958		191,510
Revolving credit facility debt	374,000		874,000
Total debt	11,014,783		11,190,189
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Mezzanine loans receivable	140,567		202,412
Notes and mortgages payable	8,594,920		8,259,298
Senior unsecured notes	982,588		1,082,928
Exchangeable senior debentures	492,690		491,000
Convertible senior debentures	187,198		186,413
Revolving credit facility debt	374,000		874,000
Total debt	10,631,396		10,893,639
Fair Value, Inputs, Level 1 [Member]
Statement [Line Items]
Marketable securities	821,920		766,116
Derivative Assets	0		0
Deferred Compensation Plan Assets	46,339		43,699
Real Estate Fund investments	0		0
Total assets	868,259		809,815
Mandatorily redeemable instruments (included in other liabilities)	55,097		55,097
Fair Value Inputs Level 2 Member
Statement [Line Items]
Marketable securities	0		0
Derivative Assets	34,779		17,616
Deferred Compensation Plan Assets	0		0
Real Estate Fund investments	0		0
Total assets	34,779		17,616
Mandatorily redeemable instruments (included in other liabilities)	0		0
Fair Value, Inputs, Level 3 [Member]
Statement [Line Items]
Marketable securities	0		0
Derivative Assets	0		0
Deferred Compensation Plan Assets	51,612		47,850
Real Estate Fund investments	230,657		144,423
Total assets	282,269		192,273
Mandatorily redeemable instruments (included in other liabilities)	0		0
Real Estate Fund [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance - changes in Level 3 " deferred compensation plan assets"	230,657		144,423
Fair Value Asset Measured on Recurring Basis, Asset, Purchases	100,238
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	698
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Other Net	(14,702)
Deferred Compensation Plan Asset [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance - changes in Level 3 " deferred compensation plan assets"	51,612	$ 43,263	$ 47,850	$ 39,589
Fair Value Asset Measured on Recurring Basis, Asset, Purchases	1,286	3,132
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	3,623	1,108
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Other Net	$ (1,147)	$ (566)

Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
Stock-based Compensation (Details) - USD ($) $ in Thousands	Mar. 31, 2011	Mar. 31, 2010
Share Based Compensation Equity Instruments Other Than Options Plan Activity Abstract
Share Based Compensation	$ 7,146	$ 6,477

Fee and Other Income (Details) - USD ($) $ in Thousands	3 Months Ended
Fee and Other Income (Details) - USD ($) $ in Thousands	Mar. 31, 2011	Mar. 31, 2010
Fee and Other Income [Abstract]
Tenant cleaning fees	$ 15,423	$ 13,652
Management and leasing fees	4,106	9,140
Lease termination fees	1,176	4,970
Other income	13,588	13,165
Total Fee and Other Income	34,293	40,927
Management fee income from Interstate Properties	$ 197	$ 200

Interest and Other Investment Income (Loss), Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Statement [Line Items]
Total Interest and Other Investment Income, net	$ 117,108	$ 14,704
Marketable Equity Securities Derivative Positions [Member]
Statement [Line Items]
Total Interest and Other Investment Income, net	17,163
Mezzanine Loans Loss Accrual [Member]
Statement [Line Items]
Total Interest and Other Investment Income, net	82,744
Marketable Securities [Member]
Statement [Line Items]
Total Interest and Other Investment Income, net	7,667	7,245
Mark to Market of deferred Compensation Plan [Member]
Statement [Line Items]
Total Interest and Other Investment Income, net	4,952	2,763
Mezzanine Loans Receivable [Member]
Statement [Line Items]
Total Interest and Other Investment Income, net	2,644	2,715
Other Investment Income [Member]
Statement [Line Items]
Total Interest and Other Investment Income, net	$ 1,938	$ 1,981

Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Comprehensive Income [Abstract]
Net income (loss)	$ 445,821	$ 232,544
Other comprehensive income (loss)	57,161	1,504
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total	502,982	234,048
Less: Comprehensive income (loss) attributable to noncontrolling interests	36,759	18,098
Comprehensive Income, Net of Tax, Attributable to Parent, Total	$ 466,223	$ 215,950

Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Income Per Share [Abstract]
Income (loss) from continuing operations, net of income attributable to noncontrolling interests	$ 286,947	$ 224,122
Income from discontinued operations, net of income attributable to noncontrolling interests	125,716	(9,570)
Net income attributable to Vornado	412,663	214,552
Preferred share dividends	(13,448)	(14,267)
NET INCOME attributable to common shareholders	399,215	200,285
Earnings allocated to unvested participating securities	(46)	(20)
Numerator for basic income (loss) per share	399,169	200,265
Interest on 3.875% exchangeable senior debentures	6,534	0
Convertible preferred share dividends - Numerator	32	41
Numerator for diluted income (loss) per share	$ 405,735	$ 200,306
Denominator for basic income (loss) per share - weighted average shares	183,988	181,542
3.875% Exchangeable Senior Debentures	5,736	0
Employee stock options and restricted share awards	1,749	1,831
Convertible preferred shares - Denominator	56	72
Weighted Average Number of Shares Outstanding, Diluted, Total	191,529	183,445
Income from continuing operations, net	$ 1.49	$ 1.15
Income from discontinued operations, net - Basic	0.68	(0.05)
Net income per common share	2.17	1.10
Income (loss) from continuing operations, net - Diluted	1.46	1.14
Income from discontinued operations, net - Diluted	0.66	(0.05)
Net income per common share	$ 2.12	$ 1.09

Income Per Share (Parentheticals) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Income Per Share [Abstract]
Weighted average common share equivalents of excluded dilutive securities due to anti-dilutive effect	12,787	21,029

Cleveland Medical Mart Development Project (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2011 USD ($) sqft	Mar. 31, 2010 USD ($)
Statement [Line Items]
Development And Project Management Revenues	$ 40,699	$ 0
Development And Project Management Expenses	$ 38,278	$ 0
Cleveland Medical Mart & Convention Center [Member]
Statement [Line Items]
Square Footage Of Real Estate Property \| sqft	1,000,000
Construction Costs Budgeted	$ 465,000
Annual Net Settled Payments Received	10,000
Annual Obligation to the County	36,000
Commitments to Fund Improvments	$ 11,500
Development and Operating Period	17

Commitments and Contingencies (Details)	3 Months Ended
Commitments and Contingencies (Details)	Mar. 31, 2011 USD ($)
Statement [Line Items]
Guarantees and master leases	$ 203,250,000
Outstanding letters of credit	12,423,000
Commitment to fund additional capital to partially owned entities	195,255,000
Vornado Equity Commitment Fund	200,000,000
Unfunded Commitments to the Real Estate Fund	141,924,000
Commitments To Investment Management Fund	$ 52,000,000
NBCR Losses [Member]
Statement [Line Items]
Federal government deductible, percentage of balance of a covered loss	85.00%
Insurance limit per occurrence	$ 2,000,000,000
Earthquake California Properties [Member]
Statement [Line Items]
Vornado deductible, annual aggregate	150,000,000
Insurance limit per occurrence	$ 150,000,000
Vornado deductible, percentage of property value	5.00%
All Risk And Rental Value [Member]
Statement [Line Items]
Insurance limit per occurrence	$ 2,000,000,000
General Liability [Member]
Statement [Line Items]
Insurance limit per occurrence	300,000,000
PPIC [Member] \| NBCR Losses [Member]
Statement [Line Items]
Insurance deductible	$ 3,200,000
Insurance Deductible Percentage Of Balance Of Covered Loss	15.00%
Central Park South 220 [Member]
Statement [Line Items]
Commitment to fund Central Park South project, low end of range	$ 400,000,000
Commitment to fund Central Park South project, high end of range	425,000,000
Stop & Shop [Member]
Statement [Line Items]
Stop & Shop complaint regarding annual rent collected pursuant to Master Agreement and Guaranty	5,000,000
Stop & Shop complaint regarding rent allocated to East Brunswick, Jersey City, Middletown, Union, and Woodbridge leases	$ 5,000,000

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Mar. 31, 2011	Mar. 31, 2010
Statement [Line Items]
Property rentals	$ 540,472	$ 516,623
Straight Line Rent Adjustments	13,929	20,063
Amortization of acquired below-market leases, net	16,759	15,771
Operating Leases, Income Statement, Lease Revenue, Total	571,160	552,457
Tenant expense reimbursements	90,959	91,930
Cleveland Medical Mart development project	40,699	0
Tenant cleaning fees	15,423	13,652
Management and leasing fees	4,106	9,140
Lease termination fees	1,176	4,970
Other	13,588	13,165
Total Revenues	737,111	685,314
Operating expenses	290,773	274,693
Depreciation and amortization	132,227	133,793
General and administrative	59,003	48,630
Cleveland Medical Mart development project	38,278	0
Acquisition and other costs	18,270	0
Total expenses	538,551	457,116
Operating income	198,560	228,198
Income (loss) from partially owned entities	129,228	137,214
Income from Real Estate Fund	1,080	0
Interest and other investment (loss) income, net	117,108	14,704
Interest and debt expense (including amortization of deferred financing costs of $4,633 and $4,426 respectively)	(134,765)	(135,727)
Net gain on disposition of wholly owned and partially owned assets	6,677	3,305
Income before income taxes	317,888	247,694
Income tax expense	(6,382)	(5,580)
Income from continuing operations	311,506	242,114
Income (loss) from discontinued operations	134,315	(9,570)
Net income	445,821	232,544
Net (income) attributable to noncontrolling interests in consolidated subsidiaries	(1,350)	(213)
Net (income) attributable to noncontrolling interests in the Operating Partnership, including unit distributions	(31,808)	(17,779)
Net income (loss) attributable to Vornado	412,663	214,552
Interest and debt expense (2)	198,848	196,187
Depreciation and amortization (2)	185,848	186,149
Income tax expense	66,828	55,706
EBITDA	864,187	652,594
Toys R Us [Member]
Statement [Line Items]
Income (loss) from partially owned entities	112,944	125,870
All Equity Method Investees Excluding Toys [Member]
Statement [Line Items]
Income (loss) from partially owned entities	16,284	11,344
New York Office [Member]
Statement [Line Items]
Property rentals	194,242	192,604
Straight Line Rent Adjustments	7,870	7,794
Amortization of acquired below-market leases, net	8,177	9,205
Operating Leases, Income Statement, Lease Revenue, Total	210,289	209,603
Tenant expense reimbursements	33,876	33,252
Cleveland Medical Mart development project	0
Tenant cleaning fees	23,430	20,418
Management and leasing fees	1,495	1,457
Lease termination fees	65	728
Other	4,763	4,410
Total Revenues	273,918	269,868
Operating expenses	121,909	115,049
Depreciation and amortization	46,146	43,707
General and administrative	5,364	4,579
Cleveland Medical Mart development project	0
Acquisition and other costs	0
Total expenses	173,419	163,335
Operating income	100,499	106,533
Income (loss) from partially owned entities	1,088	1,303
Income from Real Estate Fund	0
Interest and other investment (loss) income, net	172	164
Interest and debt expense (including amortization of deferred financing costs of $4,633 and $4,426 respectively)	(33,086)	(32,686)
Net gain on disposition of wholly owned and partially owned assets	0	0
Income before income taxes	68,673	75,314
Income tax expense	(519)	(474)
Income from continuing operations	68,154	74,840
Income (loss) from discontinued operations	0	0
Net income	68,154	74,840
Net (income) attributable to noncontrolling interests in consolidated subsidiaries	(2,271)	(2,292)
Net (income) attributable to noncontrolling interests in the Operating Partnership, including unit distributions	0	0
Net income (loss) attributable to Vornado	65,883	72,548
Interest and debt expense (2)	31,994	30,992
Depreciation and amortization (2)	45,093	42,074
Income tax expense	519	474
EBITDA	143,489	146,088
New York Office [Member] \| Toys R Us [Member]
Statement [Line Items]
Income (loss) from partially owned entities	0	0
New York Office [Member] \| All Equity Method Investees Excluding Toys [Member]
Statement [Line Items]
Income (loss) from partially owned entities	1,088	1,303
Washington DC Office [Member]
Statement [Line Items]
Property rentals	138,884	136,826
Straight Line Rent Adjustments	(5)	4,208
Amortization of acquired below-market leases, net	466	621
Operating Leases, Income Statement, Lease Revenue, Total	139,345	141,655
Tenant expense reimbursements	9,297	14,917
Cleveland Medical Mart development project	0
Tenant cleaning fees	0	0
Management and leasing fees	2,885	8,096
Lease termination fees	1,111	446
Other	5,345	5,837
Total Revenues	157,983	170,951
Operating expenses	48,836	54,757
Depreciation and amortization	33,684	36,212
General and administrative	6,537	5,893
Cleveland Medical Mart development project	0
Acquisition and other costs	0
Total expenses	89,057	96,862
Operating income	68,926	74,089
Income (loss) from partially owned entities	(3,915)	(192)
Income from Real Estate Fund	0
Interest and other investment (loss) income, net	32	26
Interest and debt expense (including amortization of deferred financing costs of $4,633 and $4,426 respectively)	(28,926)	(34,157)
Net gain on disposition of wholly owned and partially owned assets	0	0
Income before income taxes	36,117	39,766
Income tax expense	(738)	(686)
Income from continuing operations	35,379	39,080
Income (loss) from discontinued operations	46,466	(8,323)
Net income	81,845	30,757
Net (income) attributable to noncontrolling interests in consolidated subsidiaries	0	0
Net (income) attributable to noncontrolling interests in the Operating Partnership, including unit distributions	0	0
Net income (loss) attributable to Vornado	81,845	30,757
Interest and debt expense (2)	32,221	35,171
Depreciation and amortization (2)	41,899	39,841
Income tax expense	848	724
EBITDA	156,813	106,493
Washington DC Office [Member] \| Toys R Us [Member]
Statement [Line Items]
Income (loss) from partially owned entities	0	0
Washington DC Office [Member] \| All Equity Method Investees Excluding Toys [Member]
Statement [Line Items]
Income (loss) from partially owned entities	(3,915)	(192)
Retail [Member]
Statement [Line Items]
Property rentals	107,447	95,107
Straight Line Rent Adjustments	4,181	6,358
Amortization of acquired below-market leases, net	6,960	4,516
Operating Leases, Income Statement, Lease Revenue, Total	118,588	105,981
Tenant expense reimbursements	39,331	37,595
Cleveland Medical Mart development project	0
Tenant cleaning fees	0	0
Management and leasing fees	555	224
Lease termination fees	0	3,408
Other	1,407	740
Total Revenues	159,881	147,948
Operating expenses	60,680	53,127
Depreciation and amortization	28,541	27,797
General and administrative	8,022	6,941
Cleveland Medical Mart development project	0
Acquisition and other costs	15,000
Total expenses	112,243	87,865
Operating income	47,638	60,083
Income (loss) from partially owned entities	318	1,391
Income from Real Estate Fund	0
Interest and other investment (loss) income, net	8	3
Interest and debt expense (including amortization of deferred financing costs of $4,633 and $4,426 respectively)	(23,069)	(17,642)
Net gain on disposition of wholly owned and partially owned assets	0	0
Income before income taxes	24,895	43,835
Income tax expense	(5)	(35)
Income from continuing operations	24,890	43,800
Income (loss) from discontinued operations	5,303	(202)
Net income	30,193	43,598
Net (income) attributable to noncontrolling interests in consolidated subsidiaries	155	242
Net (income) attributable to noncontrolling interests in the Operating Partnership, including unit distributions	0	0
Net income (loss) attributable to Vornado	30,348	43,840
Interest and debt expense (2)	24,164	19,354
Depreciation and amortization (2)	28,976	28,811
Income tax expense	5	35
EBITDA	83,493	92,040
Retail [Member] \| Toys R Us [Member]
Statement [Line Items]
Income (loss) from partially owned entities	0	0
Retail [Member] \| All Equity Method Investees Excluding Toys [Member]
Statement [Line Items]
Income (loss) from partially owned entities	318	1,391
Merchandise Mart [Member]
Statement [Line Items]
Property rentals	62,565	57,657
Straight Line Rent Adjustments	790	1,102
Amortization of acquired below-market leases, net	17	(121)
Operating Leases, Income Statement, Lease Revenue, Total	63,372	58,638
Tenant expense reimbursements	4,023	3,977
Cleveland Medical Mart development project	40,699
Tenant cleaning fees	0	0
Management and leasing fees	103	14
Lease termination fees	0	388
Other	2,036	1,962
Total Revenues	110,233	64,979
Operating expenses	41,946	37,210
Depreciation and amortization	11,062	11,979
General and administrative	7,598	7,198
Cleveland Medical Mart development project	38,278
Acquisition and other costs	3,040
Total expenses	101,924	56,387
Operating income	8,309	8,592
Income (loss) from partially owned entities	76	176
Income from Real Estate Fund	0
Interest and other investment (loss) income, net	9	12
Interest and debt expense (including amortization of deferred financing costs of $4,633 and $4,426 respectively)	(9,338)	(9,363)
Net gain on disposition of wholly owned and partially owned assets	0	796
Income before income taxes	(944)	213
Income tax expense	(410)	(194)
Income from continuing operations	(1,354)	19
Income (loss) from discontinued operations	82,546	(1,045)
Net income	81,192	(1,026)
Net (income) attributable to noncontrolling interests in consolidated subsidiaries	0	0
Net (income) attributable to noncontrolling interests in the Operating Partnership, including unit distributions	0	0
Net income (loss) attributable to Vornado	81,192	(1,026)
Interest and debt expense (2)	12,907	13,009
Depreciation and amortization (2)	11,175	13,482
Income tax expense	410	253
EBITDA	105,684	25,718
Merchandise Mart [Member] \| Toys R Us [Member]
Statement [Line Items]
Income (loss) from partially owned entities	0	0
Merchandise Mart [Member] \| All Equity Method Investees Excluding Toys [Member]
Statement [Line Items]
Income (loss) from partially owned entities	76	176
Toys R Us Segment [Member]
Statement [Line Items]
Property rentals	0	0
Straight Line Rent Adjustments	0	0
Amortization of acquired below-market leases, net	0	0
Operating Leases, Income Statement, Lease Revenue, Total	0	0
Tenant expense reimbursements	0	0
Cleveland Medical Mart development project	0
Tenant cleaning fees	0	0
Management and leasing fees	0	0
Lease termination fees	0	0
Other	0	0
Total Revenues	0	0
Operating expenses	0	0
Depreciation and amortization	0	0
General and administrative	0	0
Cleveland Medical Mart development project	0
Acquisition and other costs	0
Total expenses	0	0
Operating income	0	0
Income (loss) from partially owned entities	112,944	125,870
Income from Real Estate Fund	0
Interest and other investment (loss) income, net	0	0
Interest and debt expense (including amortization of deferred financing costs of $4,633 and $4,426 respectively)	0	0
Net gain on disposition of wholly owned and partially owned assets	0	0
Income before income taxes	112,944	125,870
Income tax expense	0	0
Income from continuing operations	112,944	125,870
Income (loss) from discontinued operations	0	0
Net income	112,944	125,870
Net (income) attributable to noncontrolling interests in consolidated subsidiaries	0	0
Net (income) attributable to noncontrolling interests in the Operating Partnership, including unit distributions	0	0
Net income (loss) attributable to Vornado	112,944	125,870
Interest and debt expense (2)	40,135	41,140
Depreciation and amortization (2)	34,673	35,327
Income tax expense	69,018	49,710
EBITDA	256,770	252,047
Toys R Us Segment [Member] \| Toys R Us [Member]
Statement [Line Items]
Income (loss) from partially owned entities	112,944	125,870
Toys R Us Segment [Member] \| All Equity Method Investees Excluding Toys [Member]
Statement [Line Items]
Income (loss) from partially owned entities	0	0
Other Segment [Member]
Statement [Line Items]
Property rentals	37,334	34,429
Straight Line Rent Adjustments	1,093	601
Amortization of acquired below-market leases, net	1,139	1,550
Operating Leases, Income Statement, Lease Revenue, Total	39,566	36,580
Tenant expense reimbursements	4,432	2,189
Cleveland Medical Mart development project	0
Tenant cleaning fees	(8,007)	(6,766)
Management and leasing fees	(932)	(651)
Lease termination fees	0	0
Other	37	216
Total Revenues	35,096	31,568
Operating expenses	17,402	14,550
Depreciation and amortization	12,794	14,098
General and administrative	31,482	24,019
Cleveland Medical Mart development project	0
Acquisition and other costs	230
Total expenses	61,908	52,667
Operating income	(26,812)	(21,099)
Income (loss) from partially owned entities	18,717	8,666
Income from Real Estate Fund	1,080
Interest and other investment (loss) income, net	116,887	14,499
Interest and debt expense (including amortization of deferred financing costs of $4,633 and $4,426 respectively)	(40,346)	(41,879)
Net gain on disposition of wholly owned and partially owned assets	6,677	2,509
Income before income taxes	76,203	(37,304)
Income tax expense	(4,710)	(4,191)
Income from continuing operations	71,493	(41,495)
Income (loss) from discontinued operations	0	0
Net income	71,493	(41,495)
Net (income) attributable to noncontrolling interests in consolidated subsidiaries	766	1,837
Net (income) attributable to noncontrolling interests in the Operating Partnership, including unit distributions	(31,808)	(17,779)
Net income (loss) attributable to Vornado	40,451	(57,437)
Interest and debt expense (2)	57,427	56,521
Depreciation and amortization (2)	24,032	26,614
Income tax expense	(3,972)	4,510
EBITDA	117,938	30,208
Other Segment [Member] \| Toys R Us [Member]
Statement [Line Items]
Income (loss) from partially owned entities	0	0
Other Segment [Member] \| All Equity Method Investees Excluding Toys [Member]
Statement [Line Items]
Income (loss) from partially owned entities	$ 18,717	$ 8,666

Segment Information (Parentheticals) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	$ 864,187	$ 652,594
Alexanders Inc [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	15,168	14,399
California Street 555 [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	10,965	11,488
Lexington Realty Trust [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	11,993	17,848
Hotel Pennsylvania [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	(68)	(447)
LNR [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	9,390
Industrial Warehouses [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	356	839
Other Investments [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	8,999	9,307
Other EBITDA attributable to identifiable investments [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	56,803	53,434
Corporate General And Administrative Expenses Excluding Mark To Market Of Deferred Compensation Plan Assets And Offsetting Liability [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	(21,355)	(19,388)
Investment Income And Other Excluding Mark To Market Of Deferred Compensation Plan Assets And Offsetting Liability [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	14,376	11,514
Net (income) loss attributable to noncontrolling interests, including unit distributions [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	(31,808)	(17,779)
Income (Loss) from the Mark-to-Market of Derivative Positions in Marketable Equity Securities [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	17,163	0
Real estate Fund organization costs [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	(3,048)	0
Mezzanine Loans Receivable [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	82,744
Other Segment [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	117,938	30,208
Net gain on sale of condominiums [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	4,586	2,427
Acquisition costs [Member]
Statement [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	$ (1,523)	$ 0