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Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
Document and Entity Information - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	VORNADO REALTY TRUST
Entity Central Index Key	0000899689
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	188,576,853
Entity Public Float		$ 16,366,466
Entity Well Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Trading Symbol	vno

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real estate, at cost:
Land	$ 4,164,799	$ 3,861,913
Buildings and improvements	12,582,671	11,705,749
Development costs and construction in progress	1,226,637	1,128,037
Leasehold improvements and equipment	116,030	126,659
Total	18,090,137	16,822,358
Less accumulated depreciation and amortization	(3,418,267)	(3,161,633)
Real estate, net	14,671,870	13,660,725
Cash and cash equivalents	1,835,707	1,198,477
Restricted cash	107,799	176,204
Marketable securities	150,997	206,323
Tenant and other receivables, net of allowance for doubtful accounts of $11,908 and $12,210	98,062	109,998
Investments in partially owned entities	1,550,422	1,240,489
Real estate fund investments	574,761	513,973
Receivable arising from the straight-lining of rents, net of allowance of $2,751 and $3,188	931,245	787,271
Deferred leasing costs, net of accumulated amortization of $218,239 and $212,339	480,421	382,433
Identified intangible assets, net of accumulated amortization of $187,360 and $199,821	227,901	225,155
Assets related to discontinued operations	37,020	2,234,128
Other assets	477,088	422,804
Assets	21,143,293	21,157,980
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Mortgages payable, net	9,513,713	8,187,843
Senior unsecured notes, net	844,159	1,342,494
Unsecured revolving credit facilities	550,000	0
Unsecured term loan, net	183,138	0
Accounts payable and accrued expenses	443,955	447,745
Deferred revenue	346,119	358,613
Deferred compensation plan	117,475	117,284
Liabilities related to discontinued operations	12,470	1,501,009
Other liabilities	426,965	375,830
Total liabilities	12,437,994	12,330,818
Commitments and contingencies
Redeemable noncontrolling interests:
Class A units - 12,242,820 and 11,356,550 units outstanding	1,223,793	1,336,780
Series D cumulative redeemable preferred units - 177,101 and 1 units outstanding	5,428	1,000
Total redeemable noncontrolling interests	1,229,221	1,337,780
Vornado shareholders' equity:
Preferred shares of beneficial interest: no par value per share; authorized 110,000,000 shares; issued and outstanding 52,676,629 and 52,678,939 shares	1,276,954	1,277,026
Common shares of beneficial interest: $.04 par value per share; authorized 250,000,000 shares; issued and outstanding 188,576,853 and 187,887,498 shares	7,521	7,493
Additional capital	7,132,979	6,873,025
Earnings less than distributions	(1,766,780)	(1,505,385)
Accumulated other comprehensive income	46,921	93,267
Total Vornado shareholders' equity	6,697,595	6,745,426
Noncontrolling interests in consolidated subsidiaries	778,483	743,956
Total equity	7,476,078	7,489,382
Total liabilities, redeemable noncontrolling interests and equity	$ 21,143,293	$ 21,157,980

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Tenant and other receivables, allowance for doubtful accounts (in US dollars)	$ 11,908	$ 12,210
Receivable arising from the straight-lining of rents, allowance (in US dollars)	2,751	3,188
Deferred leasing costs, accumulated amortization (in US dollars)	218,239	212,339
Identified intangible assets, accumulated amortization (in US dollars)	$ 187,360	$ 199,821
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Preferred Stock, Par Value Per Share	$ 0	$ 0
Preferred shares of beneficial interest: authorized shares	110,000,000	110,000,000
Preferred shares of beneficial interest: issued shares	52,676,629	52,678,939
Preferred shares of beneficial interest: outstanding shares	52,676,629	52,678,939
Common shares of beneficial interest: par value per share (in dollars 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	188,576,853	187,887,498
Common shares of beneficial interest: outstanding shares	188,576,853	187,887,498
Common Class A [Member]
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Outstanding Partnership Units held by Third Parties	12,242,820	11,356,550
Series D Cumulative Redeemable Preferred Unit [Member]
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Outstanding Partnership Units held by Third Parties	177,101	1

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUES:
Property rentals	$ 2,076,586	$ 1,911,487	$ 1,880,405
Tenant expense reimbursements	260,976	245,819	226,831
Cleveland Medical Mart development project	0	0	36,369
Fee and other income	164,705	155,206	155,571
Total revenues	2,502,267	2,312,512	2,299,176
EXPENSES:
Operating	1,011,249	953,611	928,565
Depreciation and amortization	542,952	481,303	461,627
General and administrative	175,307	169,270	177,366
Cleveland Medical Mart development project	0	0	32,210
Acquisition and transaction related costs	12,511	18,435	24,857
Total expenses	1,742,019	1,622,619	1,624,625
Operating income	760,248	689,893	674,551
Income from real estate fund investments	74,081	163,034	102,898
Loss from partially owned entities	(12,630)	(59,861)	(340,882)
Interest and other investment income (loss), net	26,978	38,752	(24,887)
Interest and debt expense	(378,025)	(412,755)	(425,782)
Net gain on disposition of wholly owned and partially owned assets	251,821	13,568	2,030
Income (loss) before income taxes	722,473	432,631	(12,072)
Income tax benefit (expense)	84,695	(9,281)	8,717
Income (loss) from continuing operations	807,168	423,350	(3,355)
Income from discontinued operations	52,262	585,676	568,095
Net income	859,430	1,009,026	564,740
Less net income attributable to noncontrolling interests in:
Consolidated subsidiaries	(55,765)	(96,561)	(63,952)
Operating Partnership	(43,231)	(47,613)	(24,817)
Net income attributable to Vornado	760,434	864,852	475,971
Preferred share dividends	(80,578)	(81,464)	(82,807)
Preferred unit and share redemptions	0	0	(1,130)
NET INCOME attributable to common shareholders	$ 679,856	$ 783,388	$ 392,034
INCOME (LOSS) PER COMMON SHARE - BASIC:
Income (loss) from continuing operations, net (in dollars per share)	$ 3.35	$ 1.23	$ (0.75)
Income from discontinued operations, net (in dollars per share)	0.26	2.95	2.85
Net income per common share (in dollars per share)	$ 3.61	$ 4.18	$ 2.10
Weighted average shares outstanding	188,353	187,572	186,941
INCOME (LOSS) PER COMMON SHARE - DILUTED:
Income (loss) from continuing operations, net (in dollars per share)	$ 3.33	$ 1.22	$ (0.75)
Income from discontinued operations, net (in dollars per share)	0.26	2.93	2.84
Net income per common share (in dollars per share)	$ 3.59	$ 4.15	$ 2.09
Weighted average shares outstanding	189,564	188,690	187,709

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income	$ 859,430	$ 1,009,026	$ 564,740
Other comprehensive (loss) income:
(Reduction) increase in unrealized net gain on available-for-sale securities	(55,326)	14,465	142,281
Amounts reclassified from accumulated other comprehensive income for the sale of available-for-sale securities	0	0	(42,404)
Pro rata share of other comprehensive (loss) income of nonconsolidated subsidiaries	(327)	2,509	(22,814)
Increase in value of interest rate swap and other	6,441	6,079	18,716
Comprehensive income	810,218	1,032,079	660,519
Less comprehensive income attributable to noncontrolling interests	(96,130)	(145,497)	(94,065)
Comprehensive income attributable to Vornado	$ 714,088	$ 886,582	$ 566,454

Consolidated Statements of Changes in Equity - USD ($) shares in Thousands, $ in Thousands	Total	Series L Preferred Stock [Member]	Series F And Series H Preferred Stock [Member]	Real estate fund investments	Other	Preferred Shares	Preferred Shares Series L Preferred Stock [Member]	Preferred Shares Series F And Series H Preferred Stock [Member]	Common Shares	Additional Capital	Earnings Less Than Distributions	Accumulated Other Comprehensive Income (Loss)	Non-controlling Interests in Consolidated Subsidiaries	Non-controlling Interests in Consolidated Subsidiaries Real estate fund investments	Non-controlling Interests in Consolidated Subsidiaries Other
Beginning balance, Shares at Dec. 31, 2012						51,185			186,735
Beginning balance, Value at Dec. 31, 2012	$ 7,904,144					$ 1,240,278			$ 7,440	$ 7,195,438	$ (1,573,275)	$ (18,946)	$ 1,053,209
Net income attributable to Vornado	475,971										475,971
Net income attributable to noncontrolling interests in consolidated subsidiaries	63,952			$ 53,427									63,952
Dividends on common shares	(545,913)										(545,913)
Dividends on preferred shares	(82,807)										(82,807)
Issuance of preferred shares, Shares							12,000
Issuance of preferred shares, Value		$ 290,306					$ 290,306
Redemption of preferred shares, Shares								(10,500)
Redemption of preferred shares, Value			$ (253,269)					$ (253,269)
Common shares issued:
Upon redemption of Class A units, at redemption value, Shares									299
Upon redemption of Class A units, at redemption value, Value	25,317								$ 12	25,305
Under employees' share option plan, Shares									104
Under employees' share option plan, Value	5,808								$ 23	5,892	(107)
Under dividend reinvestment plan, Shares									22
Under dividend reinvestment plan, Value	1,851								$ 1	1,850
Upon acquisition of real estate, Shares									128
Upon acquisition of real estate, Value	11,461								$ 5	11,456
Contributions:
Contributions				28,078	$ 15,886									$ 28,078	$ 15,886
Distribution:
Distributions				(47,268)	(133,153)									(47,268)	(133,153)
Transfer of noncontrolling interest in real estate fund	0
Conversion of Series A preferred shares to common shares, Shares						(2)			3
Conversion of Series A preferred shares to common shares, Value						$ (90)			$ 0	90
Deferred compensation shares and options, Shares									(6)
Deferred compensation shares and options, Value	9,270								$ (12)	9,589	(307)
(Reduction) increase in unrealized net gain on available-for-sale securities	142,281											142,281
Pro rata share of other comprehensive (loss) income of nonconsolidated subsidiaries	(22,814)											(22,814)
Increase in value of interest rate swap	18,183											18,183
Amounts reclassified related to sale of available-for-sale securities	(42,404)											(42,404)
Adjustments to carry redeemable Class A units at redemption value	(108,252)									(108,252)
Redeemable noncontrolling interests' share of above adjustments	(5,296)											(5,296)
Preferred unit and share redemptions	(1,130)										(1,130)
Deconsolidation of partially owned entity	(165,427)												(165,427)
Consolidation of a partially owned entity	16,799												16,799
Other	(6,830)									2,472	(7,271)	533	(2,564)
Ending balance, Shares at Dec. 31, 2013						52,683			187,285
Ending balance, Value at Dec. 31, 2013	7,594,744					$ 1,277,225			$ 7,469	7,143,840	(1,734,839)	71,537	829,512
Net income attributable to Vornado	864,852										864,852
Net income attributable to noncontrolling interests in consolidated subsidiaries	96,561			92,728									96,561
Dividends on common shares	(547,831)										(547,831)
Dividends on preferred shares	(81,464)										(81,464)
Common shares issued:
Upon redemption of Class A units, at redemption value, Shares									271
Upon redemption of Class A units, at redemption value, Value	27,273								$ 11	27,262
Under employees' share option plan, Shares									304
Under employees' share option plan, Value	14,047								$ 12	17,428	(3,393)
Under dividend reinvestment plan, Shares									17
Under dividend reinvestment plan, Value	1,804								$ 1	1,803
Contributions:
Contributions				5,297	32,998									5,297	32,998
Distribution:
Distributions	(33,469)			(182,964)	(4,463)									(182,964)	(4,463)
Transfer of noncontrolling interest in real estate fund	(33,028)												(33,028)
Conversion of Series A preferred shares to common shares, Shares						(4)			5
Conversion of Series A preferred shares to common shares, Value						$ (193)			$ 0	193
Deferred compensation shares and options, Shares									5
Deferred compensation shares and options, Value	5,512								$ 0	5,852	(340)
(Reduction) increase in unrealized net gain on available-for-sale securities	14,465											14,465
Pro rata share of other comprehensive (loss) income of nonconsolidated subsidiaries	2,509											2,509
Increase in value of interest rate swap	6,079											6,079
Amounts reclassified related to sale of available-for-sale securities	0
Adjustments to carry redeemable Class A units at redemption value	(315,276)									(315,276)
Redeemable noncontrolling interests' share of above adjustments	(1,323)											(1,323)
Preferred unit and share redemptions	0
Other	(10,410)					$ (6)				(8,077)	(2,370)		43
Ending balance, Shares at Dec. 31, 2014						52,679			187,887
Ending balance, Value at Dec. 31, 2014	7,489,382					$ 1,277,026			$ 7,493	6,873,025	(1,505,385)	93,267	743,956
Net income attributable to Vornado	760,434										760,434
Net income attributable to noncontrolling interests in consolidated subsidiaries	55,765			40,117									55,765
Distribution of Urban Edge Properties	(464,603)										(464,262)		(341)
Dividends on common shares	(474,751)										(474,751)
Dividends on preferred shares	(80,578)										(80,578)
Common shares issued:
Upon redemption of Class A units, at redemption value, Shares									452
Upon redemption of Class A units, at redemption value, Value	48,230								$ 18	48,212
Under employees' share option plan, Shares									214
Under employees' share option plan, Value	12,762								$ 9	15,332	(2,579)
Under dividend reinvestment plan, Shares									14
Under dividend reinvestment plan, Value	1,438								$ 1	1,437
Contributions:
Contributions				51,725	250									51,725	250
Distribution:
Distributions	(30,263)			$ (72,114)	$ (525)									$ (72,114)	$ (525)
Transfer of noncontrolling interest in real estate fund	0
Conversion of Series A preferred shares to common shares, Shares						(2)			4
Conversion of Series A preferred shares to common shares, Value						$ (72)			$ 1	71
Deferred compensation shares and options, Shares									6
Deferred compensation shares and options, Value	2,080								$ 1	2,438	(359)
(Reduction) increase in unrealized net gain on available-for-sale securities	(55,326)											(55,326)
Pro rata share of other comprehensive (loss) income of nonconsolidated subsidiaries	(327)											(327)
Increase in value of interest rate swap	6,435											6,435
Amounts reclassified related to sale of available-for-sale securities	0
Adjustments to carry redeemable Class A units at redemption value	192,464									192,464
Redeemable noncontrolling interests' share of above adjustments	2,866											2,866
Preferred unit and share redemptions	0
Other	471								$ (2)		700	6	(233)
Ending balance, Shares at Dec. 31, 2015						52,677			188,577
Ending balance, Value at Dec. 31, 2015	$ 7,476,078					$ 1,276,954			$ 7,521	$ 7,132,979	$ (1,766,780)	$ 46,921	$ 778,483

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows from Operating Activities:
Net income	$ 859,430	$ 1,009,026	$ 564,740
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including amortization of deferred financing costs)	566,207	583,408	561,998
Net gain on disposition of wholly owned and partially owned assets	(251,821)	(13,568)	(3,407)
Straight-lining of rental income	(153,668)	(82,800)	(69,391)
Return of capital from real estate fund investments	91,458	215,676	56,664
Reversal of allowance for deferred tax assets	(90,030)	0	0
Amortization of below-market leases, net	(79,053)	(46,786)	(52,876)
Net gains on sale of real estate and other	(65,396)	(507,192)	(414,502)
Distributions of income from partially owned entities	65,018	96,286	54,030
Net realized and unrealized gains on real estate fund investments	(57,752)	(150,139)	(85,771)
Other non-cash adjustments	37,721	37,303	41,663
Loss from partially owned entities	12,630	59,861	340,882
Impairment losses and tenant buy-outs	256	26,518	37,170
Defeasance cost in connection with the refinancing of mortgage payable	0	5,589	0
Losses from the disposition of investment in J.C. Penney	0	0	72,974
Changes in operating assets and liabilities:
Real estate fund investments	(95,010)	(3,392)	(37,817)
Tenant and other receivables, net	11,936	(8,282)	83,897
Prepaid assets	(14,804)	(8,786)	(2,207)
Other assets	(116,157)	(123,435)	(50,856)
Accounts payable and accrued expenses	(33,747)	44,628	(41,729)
Other liabilities	(14,320)	3,125	(12,576)
Net cash provided by operating activities	672,150	1,135,310	1,040,789
Cash Flows from Investing Activities:
Proceeds from sales of real estate and related investments	573,303	388,776	1,027,608
Development costs and construction in progress	(490,819)	(544,187)	(469,417)
Acquisitions of real estate and other	(478,215)	(211,354)	(193,417)
Additions to real estate	(301,413)	(279,206)	(260,343)
Investments in partially owned entities	(235,439)	(120,639)	(230,300)
Restricted cash	200,229	99,464	(26,892)
Distributions of capital from partially owned entities	37,818	25,943	290,404
Proceeds from sales and repayments of mortgage and mezzanine loans receivable and other	16,790	96,913	50,569
Investments in loans receivable and other	(1,000)	(30,175)	(390)
Proceeds from sales of, and return of investment in, marketable securities	0	0	378,709
Proceeds from the sale of LNR	0	0	240,474
Funding of J.C. Penney derivative collateral; and settlement of derivative in 2013	0	0	(186,079)
Return of J.C. Penney derivative collateral	0	0	101,150
Net cash (used in) provided by investing activities	(678,746)	(574,465)	722,076
Cash Flows from Financing Activities:
Proceeds from borrowings	4,468,872	2,428,285	2,262,245
Repayments of borrowings	(2,936,578)	(1,312,258)	(3,580,100)
Dividends paid on common shares	(474,751)	(547,831)	(545,913)
Cash included in the spin-off of Urban Edge Properties	(225,000)	0	0
Distributions to noncontrolling interests	(102,866)	(220,895)	(215,247)
Dividends paid on preferred shares	(80,578)	(81,468)	(83,188)
Debt issuance and other costs	(66,554)	(58,336)	(19,883)
Contributions from noncontrolling interests	51,975	30,295	43,964
Proceeds received from exercise of employee share options	16,779	19,245	7,765
Repurchase of shares related to stock compensation agreements and related tax withholdings and other	(7,473)	(3,811)	(443)
Purchase of marketable securities in connection with the defeasance of mortgage payable	0	(198,884)	0
Purchases of outstanding preferred units and shares	0	0	(299,400)
Proceeds from the issuance of preferred shares	0	0	290,306
Net cash provided by (used in) financing activities	643,826	54,342	(2,139,894)
Net increase (decrease) in cash and cash equivalents	637,230	615,187	(377,029)
Cash and cash equivalents at beginning of period	1,198,477	583,290	960,319
Cash and cash equivalents at end of period	1,835,707	1,198,477	583,290
Supplemental Disclosure Of Cash Flow Information:
Cash payments for interest, excluding capitalized interest of $48,539, $53,139 and $42,303	376,620	443,538	465,260
Cash payments for income taxes	8,287	11,696	9,023
Non-cash distribution of Urban Edge Properties:
Assets	1,709,256	0	0
Liabilities	(1,469,659)	0	0
Equity	(239,597)	0	0
Adjustments to carry redeemable Class A units at redemption value	192,464	(315,276)	(108,252)
Write-off of fully depreciated assets	(167,250)	(121,673)	(77,106)
Transfer of interest in real estate to Pennsylvania Real Estate Investment Trust	(145,313)	0	0
Accrued capital expenditures included in accounts payable and accrued expenses	122,711	100,528	72,042
Class A units in connection with acquisition	80,000	0	0
Financing assumed in acquisitions	62,000	0	79,253
Marketable securities transferred in connection with the defeasance of mortgage payable	0	198,884	0
Defeasance of mortgage notes payable	0	(193,406)	0
Elimination of a mortgage and mezzanine loan asset and liability	0	59,375	0
Transfer of interest in real estate fund to an unconsolidated joint venture	0	(58,564)	0
Transfer of noncontrolling interest in real estate fund	0	(33,028)	0
Beverly Connection seller financing	0	13,620	0
Decrease in assets and liabilities resulting from the deconsolidation of discontinued operations and/or investments that were previously consolidated:
Real estate, net	0	0	(852,166)
Mortgages payable	0	0	(322,903)
Discontinued Operations [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from partially owned entities	11,882	58,131	338,785
Acquisitions [Member]
Non-cash distribution of Urban Edge Properties:
Like-kind exchange of real estate	80,269	606,816	66,076
Dispositions [Member]
Non-cash distribution of Urban Edge Properties:
Like-kind exchange of real estate	$ (213,621)	$ (630,352)	$ (128,767)

Consolidated Statements of Cash Flows (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Cash Flows [Abstract]
Capitalized interest	$ 48,539	$ 53,139	$ 42,303

Organization and Business

12 Months Ended

Dec. 31, 2015

Organization and Business [Abstract]

Organization and Business

1. Organization and Business

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 dividends 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 93.7% of the common limited partnership interest in the Operating Partnership at December 31, 2015. All references to “we,” “us,” “our,” the “Company” and “Vornado” refer to Vornado Realty Trust and its consolidated subsidiaries, including the Operating Partnership.

On January 15, 2015, we completed the spin-off of substantially all of our retail segment comprised of 79 strip shopping centers, three malls, a warehouse park and $225,000,000 of cash to Urban Edge Properties (“UE”) (NYSE: UE). As part of this transaction, we retained 5,717,184 UE operating partnership units (5.4% ownership interest). We are providing transition services to UE for an initial period of up to two years, primarily for information technology support. UE is providing us with leasing and property management services for (i) certain small retail properties that we plan to sell, and (ii) our affiliate, Alexander's, Inc. (NYSE: ALX) Rego Park retail assets. Steven Roth, our Chairman and Chief Executive Officer, is a member of the Board of Trustees of UE. The spin-off distribution was effected by Vornado distributing one UE common share for every two Vornado common shares. The historical financial results of UE are reflected in our consolidated financial statements as discontinued operations for all periods presented.

We currently own all or portions of:

New York:

21.3 million square feet of Manhattan office space in 35 properties;
2.6 million square feet of Manhattan street retail space in 65 properties;

1,711 units in eleven residential properties;

The 1,700 room Hotel Pennsylvania located on Seventh Avenue at 33rd Street in the heart of the Penn Plaza district;
A 32.4% interest in Alexander's, Inc. (NYSE: ALX), which owns seven properties in the greater New York metropolitan area, including 731 Lexington Avenue, the 1.3 million square foot Bloomberg, L.P. headquarters building;

Washington, DC:
15.8 million square feet of office space in 57 properties;
2,414 units in seven residential properties;

Other Real Estate and Related Investments:
The 3.6 million square foot Mart (“theMart”) in Chicago;
A 70% controlling interest in 555 California Street, a three-building office complex in San Francisco's financial district aggregating 1.8 million square feet, known as the Bank of America Center;
A 25.0% interest in Vornado Capital Partners, our real estate fund. We are the general partner and investment manager of the fund;
A 32.5% interest in Toys “R” Us, Inc. (“Toys”); and
Other real estate and other investments.

Basis of Presentation and Significant Accounting Policies

12 Months Ended

Dec. 31, 2015

Basis of Presentation and Significant Accounting Policies [Abstract]

Basis Of Presentation And Significant Accounting Policies

2. Basis of Presentation and Significant Accounting Policies

Basis of Presentation

The accompanying consolidated financial statements include the accounts of Vornado and its consolidated subsidiaries, including the Operating Partnership. All inter-company amounts have been eliminated. Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America, which require us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Certain prior year balances have been reclassified in order to conform to the current period presentation. Beginning in the year ended December 31, 2015, we classified signage revenue within “property rentals”. For the years ended December 31, 2014 and 2013, $37,929,000 and $32,866,000, respectively, related to signage revenue has been reclassified from “fee and other income” to “property rentals” to conform to the current period presentation.

Recently Issued Accounting Literature

In April 2014, the Financial Accounting Standards Board (“FASB”) issued an update (“ASU 2014-08”) Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity to ASC Topic 205, Presentation of Financial Statements and ASC Topic 360, Property Plant and Equipment. Under ASU 2014-08, only disposals that represent a strategic shift that has (or will have) a major effect on the entity's results and operations would qualify as discontinued operations. In addition, ASU 2014-08 expands the disclosure requirements for disposals that meet the definition of a discontinued operation and requires entities to disclose information about disposals of individually significant components that do not meet the definition of discontinued operations. ASU 2014-08 is effective for interim and annual reporting periods in fiscal years that began after December 15, 2014. Upon adoption of this standard on January 1, 2015, individual properties sold in the ordinary course of business are not expected to qualify as discontinued operations. Under ASU 2014-08, operating results of disposals are included in income from continuing operations, and any associated gains are now included in “net gain on disposition of wholly owned and partially owned assets” on our consolidated statements of income. Gain on sales of properties classified as discontinued operations prior to January 1, 2015 are classified in “income from discontinued operations” on our consolidated statements of income. The financial results of UE and certain other retail assets are reflected in our consolidated financial statements as discontinued operations for all periods presented (see Note 7 – Dispositions for further details).

In May 2014, the FASB issued an update ("ASU 2014-09") establishing ASC Topic 606, Revenue from Contracts with Customers. ASU 2014-09 establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. ASU 2014-09 requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. ASU 2014-09 is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017. We are currently evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements.

In June 2014, the FASB issued an update (“ASU 2014-12”) to ASC Topic 718, Compensation – Stock Compensation. ASU 2014-12 requires an entity to treat performance targets that can be met after the requisite service period of a share based award has ended, as a performance condition that affects vesting. ASU 2014-12 is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2015. We are currently evaluating the impact of the adoption of ASU 2014-12 on our consolidated financial statements.

In February 2015, the FASB issued an update (“ASU 2015-02”) Amendments to the Consolidation Analysis to ASC Topic 810, Consolidation. ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments: (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting interest entities, (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidation analysis of reporting entities that are involved with VIEs, and (iv) provide a scope exception for certain entities. ASU 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. We are currently evaluating the impact of the adoption of ASU 2015-02 on our consolidated financial statements.

In April 2015, the FASB issued an update (“ASU 2015-03”) Simplifying the Presentation of Debt Issuance Costs to ASC Topic 835, Interest (“ASC 835”). ASU 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability to which they relate, consistent with debt discounts, as opposed to being presented as assets. ASU 2015-03 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. We elected to early adopt ASU 2015-03 effective as of December 31, 2015 with retrospective application to our December 31, 2014 consolidating balance sheet. The effect of the adoption of ASU 2015-03 was to reclassify debt issuance costs of approximately $79,987,000 as of December 31, 2014 from “deferred leasing and financing costs, net” to a contra account as a deduction from the related debt liabilities. There was no effect on our consolidated statements of income.

In August 2015, the FASB issued an update (“ASU 2015-15”) Interest – Imputation of Interest to ASC 835. For debt issuance costs related to line-of-credit arrangements, ASU 2015-15 allows entities to present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We elected to early adopt ASU 2015-15 effective as of December 31, 2015 with retrospective application to our December 31, 2014 balance sheet. These debt issuance costs were $7,720,000 and $11,549,000 as of December 31, 2015 and 2014, respectively, and are included as a component of “other assets”.

In January 2016, the FASB issued an update (“ASU 2016-01”) Recognition and Measurement of Financial Assets and Financial Liabilities to ASC Topic 825, Financial Instruments (“ASC 825”). ASU 2016-01 amends certain aspects of recognition, measurement, presentation and disclosure of financial instruments, including the requirement to measure certain equity investments at fair value with changes in fair value recognized in net income. ASU 2016-01 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. We are currently evaluating the impact of the adoption of ASU 2016-01 on our consolidated financial statements.

Real Estate: Real estate is carried at cost, net of accumulated depreciation and amortization. Betterments, major renewals and certain costs directly related to the improvement and leasing of real estate are capitalized. Maintenance and repairs are expensed as incurred. For redevelopment of existing operating properties, the net book value of the existing property under redevelopment plus the cost for the construction and improvements incurred in connection with the redevelopment are capitalized to the extent the capitalized costs of the property do not exceed the estimated fair value of the redeveloped property when complete. If the cost of the redeveloped property, including the net book value of the existing property, exceeds the estimated fair value of redeveloped property, the excess is charged to expense. Depreciation is recognized on a straight-line basis over estimated useful lives which range from 7 to 40 years. Tenant allowances are amortized on a straight-line basis over the lives of the related leases, which approximate the useful lives of the assets. Additions to real estate include interest and debt expense capitalized during construction of $59,305,000 and $62,786,000 for the years ended December 31, 2015 and 2014, respectively.

Upon the acquisition of real estate, we assess the fair value of acquired assets (including land, buildings and improvements, identified intangibles, such as acquired above and below-market leases, acquired in-place leases and tenant relationships) and acquired liabilities and we allocate the purchase price based on these assessments. We assess fair value based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known trends, and market/economic conditions. We record acquired intangible assets (including acquired above-market leases, acquired in-place leases and tenant relationships) and acquired intangible liabilities (including below–market leases) at their estimated fair value separate and apart from goodwill. We amortize identified intangibles that have finite lives over the period they are expected to contribute directly or indirectly to the future cash flows of the property or business acquired.

Our properties, including any related intangible assets, are individually reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment exists when the carrying amount of an asset exceeds the aggregate projected future cash flows over the anticipated holding period on an undiscounted basis. An impairment loss is measured based on the excess of the property's carrying amount over its estimated fair value. Impairment analyses are based on our current plans, intended holding periods and available market information at the time the analyses are prepared. If our estimates of the projected future cash flows, anticipated holding periods, or market conditions change, our evaluation of impairment losses may be different and such differences could be material to our consolidated financial statements. The evaluation of anticipated cash flows is subjective and is based, in part, on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results. Plans to hold properties over longer periods decrease the likelihood of recording impairment losses.

Partially Owned Entities: We consolidate entities in which we have a controlling financial interest. In determining whether we have a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, we consider factors such as ownership interest, board representation, management representation, authority to make decisions, and contractual and substantive participating rights of the partners/members as well as whether the entity is a variable interest entity (“VIE”) and we are the primary beneficiary. We are deemed to be the primary beneficiary of a VIE when we have (i) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (ii) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. We generally do not control a partially owned entity if the entity is not considered a VIE and the approval of all of the partners/members is contractually required with respect to major decisions, such as operating and capital budgets, the sale, exchange or other disposition of real property, the hiring of a chief executive officer, the commencement, compromise or settlement of any lawsuit, legal proceeding or arbitration or the placement of new or additional financing secured by assets of the venture. We account for investments under the equity method when the requirements for consolidation are not met, and we have significant influence over the operations of the investee. Equity method investments are initially recorded at cost and subsequently adjusted for our share of net income or loss and cash contributions and distributions each period. Investments that do not qualify for consolidation or equity method accounting are accounted for on the cost method.

Investments in partially owned entities are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is measured based on the excess of the carrying amount of an investment over its estimated fair value. Impairment analyses are based on current plans, intended holding periods and available information at the time the analyses are prepared. In the years ended December 31, 2014 and 2013, we recognized non-cash impairment losses on investments in partially owned entities aggregating $85,459,000 and $281,098,000, respectively. Included in these amounts are $75,196,000 and $240,757,000 of impairment losses related to our investment in Toys in 2014 and 2013, respectively.

Cash and Cash Equivalents: Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less and are carried at cost, which approximates fair value due to their short-term maturities. The majority of our cash and cash equivalents consists of (i) deposits at major commercial banks, which may at times exceed the Federal Deposit Insurance Corporation limit, (ii) United States Treasury Bills, and (iii) Certificate of Deposits placed through an Account Registry Service (“CDARS”). To date, we have not experienced any losses on our invested cash.

Restricted Cash: Restricted cash consists of security deposits, cash restricted for the purposes of facilitating a Section 1031 Like-Kind exchange, cash restricted in connection with our deferred compensation plan and cash escrowed under loan agreements for debt service, real estate taxes, property insurance and capital improvements.

Allowance for Doubtful Accounts: We periodically evaluate the collectibility of amounts due from tenants and maintain an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under the lease agreements. We also maintain an allowance for receivables arising from the straight-lining of rents. This receivable arises from earnings recognized in excess of amounts currently due under the lease agreements. Management exercises judgment in establishing these allowances and considers payment history and current credit status in developing these estimates. As of December 31, 2015 and 2014, we had $11,908,000 and $12,210,000, respectively, in allowances for doubtful accounts. In addition, as of December 31, 2015 and 2014, we had $2,751,000 and $3,188,000, respectively, in allowances for receivables arising from the straight-lining of rents.

Deferred Charges: Direct financing costs are deferred and amortized over the terms of the related agreements as a component of interest expense. Direct costs related to successful leasing activities are capitalized and amortized on a straight line basis over the lives of the related leases. All other deferred charges are amortized on a straight line basis, which approximates the effective interest rate method, in accordance with the terms of the agreements to which they relate.

Revenue Recognition: We have the following revenue sources and revenue recognition policies:

• Base Rent — income arising from tenant leases. These rents are recognized over the non-cancelable term of the related leases on a straight-line basis which includes the effects of rent steps and rent abatements under the leases. We commence rental revenue recognition when the tenant takes possession of the leased space and the leased space is substantially ready for its intended use. In addition, in circumstances where we provide a tenant improvement allowance for improvements that are owned by the tenant, we recognize the allowance as a reduction of rental revenue on a straight-line basis over the term of the lease.

• Percentage Rent — income arising from retail tenant leases that is contingent upon tenant sales exceeding defined thresholds. These rents are recognized only after the contingency has been removed (i.e., when tenant sales thresholds have been achieved).

• Hotel Revenue — income arising from the operation of the Hotel Pennsylvania which consists of rooms revenue, food and beverage revenue, and banquet revenue. Income is recognized when rooms are occupied. Food and beverage and banquet revenue is recognized when the services have been rendered.

• Trade Shows Revenue — income arising from the operation of trade shows, including rentals of booths. This revenue is recognized when the trade shows have occurred.

• Expense Reimbursements — revenue arising from tenant leases which provide for the recovery of all or a portion of the operating expenses and real estate taxes of the respective property. This revenue is accrued in the same periods as the expenses are incurred.

• Management, Leasing and Other Fees — income arising from contractual agreements with third parties or with partially owned entities. This revenue is recognized as the related services are performed under the respective agreements.

Derivative Instruments and Hedging Activities: ASC 815, Derivatives and Hedging, as amended, establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. As of December 31, 2015 and 2014, our derivative instruments consisted of two and one interest rate swaps, respectively. We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative and the resulting designation. Derivatives used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives used to hedge the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges.

For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (loss) (outside of earnings) and subsequently reclassified to earnings when the hedged transaction affects earnings, and the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. We assess the effectiveness of each hedging relationship by comparing the changes in fair value or cash flows of the derivative hedging instrument with the changes in fair value or cash flows of the designated hedged item or transaction. For derivatives not designated as hedges, changes in fair value are recognized in earnings.

Income Taxes: We operate in a manner intended to enable us to continue to qualify as a REIT under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders. We distribute to our shareholders 100% of our taxable income and therefore, no provision for Federal income taxes is required. Dividends distributed for the year ended December 31, 2015, were characterized, for federal income tax purposes, as long-term capital gain income. Dividends distributed for the years ended December 31, 2014 and 2013, were characterized, for federal income tax purposes, as ordinary income.

We have elected to treat certain consolidated subsidiaries, and may in the future elect to treat newly formed subsidiaries, as taxable REIT subsidiaries pursuant to an amendment to the Internal Revenue Code that became effective January 1, 2001. Taxable REIT subsidiaries may participate in non-real estate related activities and/or perform non-customary services for tenants and are subject to Federal and State income tax at regular corporate tax rates. Our taxable REIT subsidiaries had a combined current income tax expense of approximately $8,322,000, $10,777,000 and $9,608,000 for the years ended December 31, 2015, 2014 and 2013, respectively, and have immaterial differences between the financial reporting and tax basis of assets and liabilities.

At December 31, 2015 and 2014, our taxable REIT subsidiaries had deferred tax assets related to net operating loss carryforwards of $97,104,000 and $94,100,000, respectively, which are included in “other assets” on our consolidated balance sheets. Prior to the quarter ended June 30, 2015, there was a full valuation allowance against these deferred tax assets because we had not determined that it is more-likely-than-not that we would use the net operating loss carryforwards to offset future taxable income. In our quarter ended June 30, 2015, based upon residential condominium unit sales, among other factors, we concluded that it was more-likely-than-not that we will generate sufficient taxable income to realize these deferred tax assets. Accordingly, we reversed $90,030,000 of the allowance for deferred tax assets and recognized an income tax benefit in our consolidated statements of income.

The following table reconciles net income attributable to common shareholders to estimated taxable income for the years ended December 31, 2015, 2014 and 2013.

(Amounts in thousands)			For the Year Ended December 31,
			2015		2014		2013
Net income attributable to common shareholders		$	679,856	$	783,388	$	392,034
Book to tax differences (unaudited):
	Tangible Property Regulations⁽¹⁾		(575,618)		-		-
	Sale of real estate and other capital transactions		320,326		(477,061)		(324,936)
	Depreciation and amortization		227,297		219,403		155,401
	Straight-line rent adjustments		(144,727)		(77,526)		(64,811)
	Stock options		(8,278)		(9,566)		4,884
	Earnings of partially owned entities		(5,299)		71,960		339,376
	Impairment losses on marketable equity securities		-		-		37,236
	Other, net		(5,833)		1,260		36,186
Estimated taxable income (unaudited)		$	487,724	$	511,858	$	575,370


(1)	Represents one-time deductions pursuant to the implementation of the Tangible Property Regulations issued by the Internal Revenue Service.

The net basis of our assets and liabilities for tax reporting purposes is approximately $3.4 billion lower than the amounts reported in our consolidated balance sheet at December 31, 2015.

Real Estate Fund Investments

12 Months Ended

Dec. 31, 2015

Real Estate Fund Investments [Abstract]

Real Estate Fund Investments

3. Real Estate Fund Investments

We are the general partner and investment manager of Vornado Capital Partners Real Estate Fund (the “Fund”), which has an eight-year term and a three-year investment period that ended in July 2013. During the investment period, the Fund was our exclusive investment vehicle for all investments that fit within its investment parameters, as defined. The Fund is accounted for under ASC 946, Financial Services – Investment Companies (“ASC 946”) 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, retaining the fair value basis of accounting.

On June 26, 2014, the Fund sold its 64.7% interest in One Park Avenue to a newly formed joint venture that we and an institutional investor own 55% and 45%, respectively. This transaction was based on a property value of $560,000,000. From the inception of this investment through its disposition, the Fund realized a $75,529,000 net gain.

On August 21, 2014, the Fund and its 50% joint venture partner completed the sale of The Shops at Georgetown Park, a 305,000 square foot retail property, for $272,500,000. From the inception of this investment through its disposition, the Fund realized a $51,124,000 net gain.

On January 20, 2015, we co-invested with the Fund and one of the Fund's limited partners to buy out the Fund's joint venture partner's 57% interest in the Crowne Plaza Times Square Hotel (the “Co-Investment”). The purchase price for the 57% interest was approximately $95,000,000 (our share $39,000,000) which valued the property at approximately $480,000,000. The property is encumbered by a $310,000,000 mortgage loan bearing interest at LIBOR plus 2.80% and maturing in December 2018 with a one-year extension option. Our aggregate ownership interest in the property increased to 33% from 11%. The Co-Investment is also accounted for under ASC 946 and is included as a component of “real estate fund investments” on our consolidated balance sheet.

On March 25, 2015, the Fund completed the sale of 520 Broadway in Santa Monica, CA for $91,650,000. The Fund realized a $23,768,000 net gain over the holding period.

At December 31, 2015, we had six real estate fund investments with an aggregate fair value of $574,761,000, or $208,614,000 in excess of cost, and had remaining unfunded commitments of $102,212,000, of which our share was $25,553,000. At December 31, 2014, we had seven real estate fund investments with an aggregate fair value of $513,973,000.

Below is a summary of income from the Fund and the Co-Investment for the years ended December 31, 2015, 2014 and 2013.

(Amounts in thousands)		For the Year Ended December 31,
		2015		2014		2013
Net investment income		$	16,329	$	12,895	$	8,943
Net realized gains on exited investments			2,757		76,337		8,184
Net unrealized gains on held investments			54,995		73,802		85,771
Income from real estate fund investments			74,081		163,034		102,898
Less income attributable to noncontrolling interests			(40,117)		(92,728)		(53,427)
Income from real estate fund investments attributable to Vornado⁽¹⁾		$	33,964	$	70,306	$	49,471


(1)	Excludes $2,939, $2,562, and $2,721 of management and leasing fees in the years ended December 31, 2015, 2014 and 2013, respectively, which are included as a component of "fee and other income" on our consolidated statements of income.

Acquisitions

12 Months Ended

Dec. 31, 2015

Acquisitions [Abstract]

Acquisitions

4. Acquisitions

On January 20, 2015, we and one of our real estate fund's limited partners co-invested with the Fund to buy out the Fund's joint venture partner's 57% interest in the Crowne Plaza Times Square Hotel (see Note 3 – Real Estate Fund Investments).

On March 18, 2015, we acquired the Center Building, a 437,000 square foot office building, located at 33-00 Northern Boulevard in Long Island City, New York, for $142,000,000, including the assumption of an existing $62,000,000, 4.43% mortgage maturing in October 2018.

On June 2, 2015, we completed the acquisition of 150 West 34th Street, a 78,000 square foot retail property leased to Old Navy through May 2019, and 226,000 square feet of additional zoning air rights, for approximately $355,000,000. At closing we completed a $205,000,000 financing of the property (see Note 9 – Debt).

On July 31, 2015, we acquired 260 Eleventh Avenue, a 235,000 square foot office property leased to the City of New York through 2021 with two five-year renewal options, a 10,000 square foot parking lot and additional air rights. The transaction is structured as a 99-year ground lease with an option to purchase the land for $110,000,000. The $3,900,000 annual ground rent and the purchase option price escalate annually at the lesser of 1.5% or CPI. The buildings were purchased for 813,900 newly issued Vornado Operating Partnership units valued at approximately $80,000,000.

On September 25, 2015, we acquired 265 West 34th Street, a 1,700 square foot retail property and 15,200 square feet of additional zoning air rights, for approximately $28,500,000.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Marketable Securities and Derivative Instruments

12 Months Ended

Dec. 31, 2015

Marketable Securities and Derivative Instruments [Abstract]

Marketable Securities and Derivative Instruments

5. Marketable Securities and Derivative Instruments

Our portfolio of marketable securities is comprised of equity securities that are classified as available-for-sale. Available-for-sale securities are presented on our consolidated balance sheets at fair value. Unrealized gains and losses resulting from the mark-to-market of these securities are included in “other comprehensive income (loss).” Realized 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.

We evaluate our portfolio of marketable securities for impairment each reporting period. For each of the securities in our portfolio with unrealized losses, we review the underlying cause of the decline in value and the estimated recovery period, as well as the severity and duration of the decline. In our evaluation, we consider our ability and intent to hold these investments for a reasonable period of time sufficient for us to recover our cost basis. We also evaluate the near-term prospects for each of these investments in relation to the severity and duration of the decline.

	Below is a summary of our marketable securities portfolio as of December 31, 2015 and 2014.

		As of December 31, 2015						As of December 31, 2014
				GAAP		Unrealized				GAAP		Unrealized
		Fair Value		Cost		Gain		Fair Value		Cost		Gain
Equity securities:
	Lexington Realty Trust	$	147,752	$	72,549	$	75,203	$	202,789	$	72,549	$	130,240
	Other		3,245		-		3,245		3,534		-		3,534
		$	150,997	$	72,549	$	78,448	$	206,323	$	72,549	$	133,774

During 2013, we sold other marketable securities for aggregate proceeds of $44,209,000, resulting in net gains of $31,741,000, which are included as a component of “net gain on disposition of wholly owned and partially owned assets” on our consolidated statements of income.

Investments in Partially Owned Entities

12 Months Ended

Dec. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Investments in Partially Owned Entities

6. Investments in Partially Owned Entities

Toys “R” Us (“Toys”)

As of December 31, 2015, we own 32.5% of Toys. We account for our investment in Toys under the equity method and record our 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. The business of Toys is highly seasonal and substantially all of Toys' net income is generated in its fourth quarter.

We have not guaranteed any of Toys' obligations and are not committed to provide any support to Toys. Pursuant to ASC 323-10-35-20, we discontinued applying the equity method for our Toys' investment when the carrying amount was reduced to zero in the third quarter of 2014. We will resume application of the equity method if, during the period the equity method was suspended, our share of unrecognized net income exceeds our share of unrecognized net losses.

In the first quarter of 2014, we recognized our share of Toys' fourth quarter net income of $75,196,000 and a corresponding non-cash impairment loss of the same amount. In 2013, we recognized $240,757,000 of non-cash impairment losses based on an “other-than-temporary” decline in the fair value of our investment.

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

As of December 31, 2015, we own 1,654,068 Alexander's common shares, or approximately 32.4% of Alexander's common equity. We manage, lease and develop Alexander's properties pursuant to agreements which expire in March of each year and are automatically renewable.

As of December 31, 2015 the market value (“fair value” pursuant to ASC 820) of our investment in Alexander's, based on Alexander's December 31, 2015 closing share price of $384.11, was $635,345,000, or $501,777,000 in excess of the carrying amount on our consolidated balance sheet. As of December 31, 2015, 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 $40,340,000. 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.

Management, Leasing and Development Agreements

We receive an annual fee for managing Alexander's and all of its properties equal to the sum of (i) $2,800,000, (ii) 2% of the gross revenue from the Rego Park II Shopping Center, (iii) $0.50 per square foot of the tenant-occupied office and retail space at 731 Lexington Avenue, and (iv) $289,000, escalating at 3% per annum, for managing the common area of 731 Lexington Avenue. In addition, we are entitled to a development fee of 6% of development costs, as defined.

We provide Alexander's with leasing services for a fee of 3% of rent for the first ten years of a lease term, 2% of rent for the eleventh through twentieth year of a lease term and 1% of rent for the twenty-first through thirtieth year of a lease term, subject to the payment of rents by Alexander's tenants. In the event third-party real estate brokers are used, our fee increases by 1% and we are responsible for the fees to the third-parties. We are also entitled to a commission upon the sale of any of Alexander's assets equal to 3% of gross proceeds, as defined, for asset sales less than $50,000,000, and 1% of gross proceeds, as defined, for asset sales of $50,000,000 or more.

On December 22, 2014, the leasing agreements with Alexander's were amended to eliminate the annual installment cap of $4,000,000. In addition, Alexander's repaid to us the outstanding balance of $40,353,000.

On January 15, 2015, we completed the spin-off of 79 strip shopping centers, three malls, a warehouse park and $225,000,000 of cash to UE and the transfer of all of the employees responsible for the management and leasing of those assets. In addition, we entered into agreements with UE to provide management and leasing services, on our behalf, for Alexander's Rego Park retail assets. Fees for these services are similar to the fees we are receiving from Alexander's described above.

Other Agreements

Building Maintenance Services (“BMS”), our wholly-owned subsidiary, supervises (i) cleaning, engineering and security services at Alexander's 731 Lexington Avenue property and (ii) security services at Alexander's Rego Park I and Rego Park II properties. During the years ended December 31, 2015, 2014 and 2013, we recognized $2,221,000, $2,318,000 and $2,036,000 of income, respectively, for these services.

Urban Edge Properties (“UE”) (NYSE: UE)

As part of our spin-off of substantially all of our retail segment to UE on January 15, 2015 (see Note 1 – Organization and Business), we retained 5,717,184 UE operating partnership units, representing a 5.4% ownership interest in UE. We account for our investment in UE under the equity method and record our share of UE's net income or loss on a one-quarter lag basis. We are providing transition services to UE for an initial period of up to two years, primarily for information technology support. UE is providing us with leasing and property management services for (i) certain small retail properties that we plan to sell, and (ii) our affiliate, Alexander's, Rego Park retail assets. As of December 31, 2015, the fair value of our investment in UE, based on UE's December 31, 2015 closing share price of $23.45, was $134,068,000, or $108,717,000 in excess of the carrying amount on our consolidated balance sheet.

Pennsylvania Real Estate Investment Trust (“PREIT”) (NYSE: PEI)

On March 31, 2015, we transferred the redeveloped Springfield Town Center, a 1,350,000 square foot mall located in Springfield, Fairfax County, Virginia, to PREIT Associates, L.P., which is the operating partnership of PREIT, in exchange for $485,313,000; comprised of $340,000,000 of cash and 6,250,000 PREIT operating partnership units (valued at $145,313,000 or $23.25 per PREIT unit) (See Note 7 – Dispositions). $19,000,000 of tenant improvements and allowances was credited to PREIT as a closing adjustment. As a result of this transaction, we own an 8.1% interest in PREIT. We account for our investment in PREIT under the equity method and record our share of PREIT's net income or loss on a one-quarter lag basis. As of December 31, 2015, the fair value of our investment in PREIT, based on PREIT's December 31, 2015 closing share price of $21.87, was $136,688,000, or $3,313,000 in excess of the carrying amount on our consolidated balance sheet. As of December 31, 2015, the carrying amount of our investment in PREIT exceeds our share of the equity in the net assets of PREIT by approximately $65,404,000. The majority of this basis difference resulted from the excess of the fair value of the PREIT operating units received over our share of the book value of PREIT's net assets. Substantially all of this basis difference was allocated, based on our estimates of the fair values of PREIT'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 PREIT's net loss. The basis difference related to the land will be recognized upon disposition of our investment.

512 West 22nd Street

On June 24, 2015, we entered into a joint venture, in which we own a 55% interest, to develop a 173,000 square foot Class-A office building, located along the western edge of the High Line at 512 West 22nd Street. The development cost of this project is approximately $235,000,000. The development commenced during the fourth quarter of 2015 and is expected to be completed in 2018. On November 24, 2015, the joint venture obtained a $126,000,000 construction loan. The loan matures in November 2019 with two six-month extension options. The interest rate is LIBOR plus 2.65% (3.07% at December 31, 2015). As of December 31, 2015, the outstanding balance of the loan was $44,072,000, of which $24,240,000 is our share. We account for our investment in the joint venture under the equity method.

Below is a summary of our investments in partially owned entities.

(Amounts in thousands)		Percentage
		Ownership at	As of December 31,
		December 31, 2015	2015		2014
Investments:
	Partially owned office buildings⁽¹⁾	Various	$	909,782	$	760,749
	Alexander’s	32.4%		133,568		131,616
	PREIT	8.1%		133,375		-
	India real estate ventures	4.1%-36.5%		48,310		76,752
	UE	5.4%		25,351		-
	Toys⁽²⁾	32.5%		-		-
	Other investments⁽³⁾	Various		300,036		271,372
			$	1,550,422	$	1,240,489


(1)	Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue, 512 West 22nd Street and others.
(2)	Pursuant to Rule 4-08(g) of Regulation S-X, in 2014 Toys was considered a significant subsidiary where as in 2015 it was not. As of November 1, 2014, Toys had total assets of $11,267,000, total liabilities of $10,377,000, noncontrolling interests of $82,000 and equity of $808,000.
(3)	Includes interests in Independence Plaza, 85 Tenth Avenue, Fashion Center Mall, 50-70 West 93rd Street and others.

Below is a summary of our income (loss) from partially owned entities.

(Amounts in thousands)			Percentage
			Ownership at		For the Year Ended December 31,
			December 31, 2015		2015		2014		2013
Our Share of Net (Loss) Income:
	Alexander's:
		Equity in net income		32.4%	$	24,209	$	21,287	$	17,721
		Management, leasing and development fees				6,869		8,722		6,681
						31,078		30,009		24,402

	UE (see page 109 for details):
		Equity in net earnings		5.4%		2,430		-		-
		Management fees				1,964		-		-
						4,394		-		-

	Toys:
		Equity in net loss⁽¹⁾		32.5%		-		(4,691)		(128,919)
		Non-cash impairment losses (see page 108 for details)				-		(75,196)		(240,757)
		Management fees				2,500		6,331		7,299
						2,500		(73,556)		(362,377)

	Partially owned office buildings⁽²⁾			Various		(23,556)		93		(4,212)

	India real estate ventures⁽³⁾			4.1%-36.5%		(18,746)		(8,309)		(3,533)

	PREIT (see page 109 for details)			8.1%		(7,450)		-		-

	LNR⁽⁴⁾			n/a		-		-		18,731

	Lexington⁽⁵⁾			n/a		-		-		(979)

	Other investments⁽⁶⁾			Various		(850)		(8,098)		(12,914)

					$	(12,630)	$	(59,861)	$	(340,882)


(1)	Pursuant to Rule 4-08(g) of Regulation S-X, in 2014 and 2013 Toys was considered a significant subsidiary where as in 2015 it was not. For the twelve months ended November 1, 2014, Toys’ total revenue was $12,645,000 and net loss attributable to Toys was $343,000. For the twelve months ended November 2, 2013, Toys’ total revenue was $13,046,000 and net loss attributable to Toys was $396,000.
(2)	Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue, 512 West 22nd Street and others. In 2015, we recognized net losses of $39,600 from our 666 Fifth Avenue (Office) joint venture as a result of our share of depreciation expense. Also in 2015, we recognized our $12,800 share of a write-off of a below market lease liability related to a tenant vacating at 650 Madison Avenue. In 2014, we recognized our $14,500 share of accelerated depreciation from our West 57th Street joint ventures in connection with the change in estimated useful life of those properties.
(3)	Includes a $14,806 and $5,771 non-cash impairment loss in 2015 and 2014, respectively.
(4)	In 2013, we recognized net income of $18,731, comprised of (i) $42,186 for our share of LNR’s net income and (ii) a $27,231 non-cash impairment loss and (iii) a $3,776 net gain on sale.
(5)	In the first quarter of 2013, we began accounting for our investment in Lexington as a marketable security - available for sale.
(6)	Includes interests in Independence Plaza, 85 Tenth Avenue, Fashion Center Mall, 50-70 West 93rd Street and others. In 2014, we recognized a $10,263 non-cash charge, comprised of a $5,959 impairment loss and a $4,304 loan loss reserve, on our equity and debt investments in Suffolk Downs.

Below is a summary of the debt of our partially owned entities as of December 31, 2015 and 2014, none of which is recourse to us.

(Amounts in thousands)			Percentage		Interest
			Ownership at		Rate at	100% Partially Owned Entities’
			December 31,		December 31,	Debt at December 31,
			2015	Maturity	2015	2015		2014
Toys:
	Notes, loans and mortgages payable		32.5%	2016-2021	7.35%	$	5,619,710	$	5,748,350

Partially owned office buildings⁽¹⁾^:
	Mortgages payable		Various	2016-2023	5.57%	$	3,771,255	$	3,691,274

PREIT:
	Mortgages payable		8.1%	2016-2025	4.04%	$	1,852,270	$	-

UE:
	Mortgages payable		5.4%	2018-2034	4.15%	$	1,246,155	$	-

Alexander's:
	Mortgages payable		32.4%	2016-2022	1.69%	$	1,053,262	$	1,032,780

India Real Estate Ventures:
	TCG Urban Infrastructure Holdings mortgages
		payable	25.0%	2016-2026	12.06%	$	185,607	$	183,541

Other⁽²⁾^:
	Mortgages payable		Various	2016-2023	4.27%	$	1,316,641	$	1,314,077


(1)	Includes 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue, 512 West 22nd Street and others.
(2)	Includes Independence Plaza, Fashion Center Mall, 50-70 West 93rd Street and others.

Based on our ownership interest in the partially owned entities above, our pro rata share of the debt of these partially owned entities, was $4,432,078,000 and $4,190,428,000 as of December 31, 2015 and 2014, respectively.

Summary of Condensed Combined Financial Information

The following is a summary of condensed combined financial information for all of our partially owned entities, including Toys and Alexander's, as of December 31, 2015 and 2014 and for the years ended December 31, 2015, 2014 and 2013.

(Amounts in thousands)				Balance as of December 31,
				2015		2014
Balance Sheet:
	Assets			$	25,526,000	$	21,389,000
	Liabilities				21,162,000		17,986,000
	Noncontrolling interests				146,000		104,000
	Equity				4,218,000		3,299,000

		For the Year Ended December 31,
		2015		2014		2013
Income Statement:
	Total revenue	$	13,423,000	$	13,620,000	$	14,092,000
	Net loss		(224,000)		(434,000)		(368,000)

Dispositions

12 Months Ended

Dec. 31, 2015

Dispositions [Abstract]

Dispositions

7. Dispositions

2015 Activity:

New York

On December 22, 2015, we completed the sale of 20 Broad Street, a 473,000 square foot office building in Manhattan for an aggregate consideration of $200,000,000. The total income from this transaction was approximately $157,000,000 comprised of approximately $142,000,000 from the gain on sale and $15,000,000 of lease termination income set forth in Note 15 – Fee and Other Income.

Washington, DC

On September 9, 2015, we completed the sale of 1750 Pennsylvania Avenue, NW, a 278,000 square foot office building in Washington, DC for $182,000,000, resulting in a net gain of approximately $102,000,000 which is included in “net gain on disposition of wholly owned and partially owned assets” on our consolidated statement of income. The tax gain of approximately $137,000,000 was deferred as part of a like-kind exchange. We are managing the property on behalf of the new owner.

Discontinued Operations

On January 15, 2015, we completed the spin-off of substantially all of our retail segment comprised of 79 strip shopping centers, three malls, a warehouse park and $225,000,000 of cash to UE (NYSE: UE) (see Note 1 – Organization and Business). In addition, we completed the following retail property sales, substantially completing the exit of the retail strips and malls business.

On March 13, 2015, we sold our Geary Street, CA lease for $34,189,000, which resulted in a net gain of $21,376,000.

On March 31, 2015, we transferred the redeveloped Springfield Town Center, a 1,350,000 square foot mall located in Springfield, Fairfax County, Virginia, to PREIT (see Note 6 – Investments in Partially Owned Entities). The financial statement gain was $7,823,000, of which $7,192,000 was recognized in the first quarter of 2015 and the remaining $631,000 was deferred based on our ownership interest in PREIT. On March 31, 2018, we will be entitled to additional consideration of 50% of the increase in the value of Springfield Town Center, if any, over $465,000,000, calculated utilizing a 5.5% capitalization rate. In the first quarter of 2014, we recorded a non-cash impairment loss of $20,000,000 on Springfield Town Center which is included in “income from discontinued operations” on our consolidated statements of income.

On August 6, 2015, we sold our 50% interest in the Monmouth Mall in Eatontown, NJ to our joint venture partner for $38,000,000, valuing the property at approximately $229,000,000, which resulted in a net gain of $33,153,000.

We also sold five residual retail properties, in separate transactions, for an aggregate of $10,731,000, which resulted in net gains of $3,675,000.

2014 Activity:

New York

On December 18, 2014, we completed the sale of 1740 Broadway, a 601,000 square foot office building in Manhattan for $605,000,000. The sale resulted in net proceeds of approximately $580,000,000, after closing costs, and resulted in a financial statement gain of approximately $441,000,000. The tax gain of approximately $484,000,000, was deferred in like-kind exchanges, primarily for the acquisition of the St. Regis Fifth Avenue retail.

Discontinued Operations

On February 24, 2014, we completed the sale of Broadway Mall in Hicksville, Long Island, New York, for $94,000,000. The sale resulted in net proceeds of $92,174,000 after closing costs.

On March 2, 2014, we entered into an agreement to transfer upon completion, the redeveloped Springfield Town Center, a 1,350,000 square foot mall located in Springfield, Fairfax County, Virginia, to PREIT in exchange for $485,313,000; comprised of $340,000,000 of cash and 6,250,000 of PREIT operating partnership units (valued at $145,313,000 or $23.25 per PREIT unit). In connection therewith, we recorded a non-cash impairment loss of $20,000,000, which is included in “income from discontinued operations” on our consolidated statements of income.

On July 8, 2014, we completed the sale of Beverly Connection, a 335,000 square foot power shopping center in Los Angeles, California, for $260,000,000, of which $239,000,000 was cash and $21,000,000 was 10-year mezzanine seller financing. The sale resulted in a net gain of $44,155,000.

We also sold six of the 22 strip shopping centers which did not fit UE's strategy (see Note 1 – Organization and Business), in separate transactions, for an aggregate of $66,410,000 in cash, which resulted in a net gain aggregating $22,500,000.

2013 Activity:

New York

On December 17, 2013, we sold 866 United Nations Plaza, a 360,000 square foot office building in Manhattan for $200,000,000. The sale resulted in net proceeds of $146,439,000 after repaying the existing loan and closing costs, and a net gain of $127,512,000.

Discontinued Operations

On January 24, 2013, we sold the Green Acres Mall located in Valley Stream, New York, for $500,000,000. The sale resulted in net proceeds of $185,000,000 after repaying the existing loan and closing costs, and a net gain of $202,275,000.

On April 15, 2013, we sold The Plant, a power strip shopping center in San Jose, California, for $203,000,000. The sale resulted in net proceeds of $98,000,000 after repaying the existing loan and closing costs, and a net gain of $32,169,000.

On April 15, 2013, we sold a retail property in Philadelphia, which is a part of the Gallery at Market Street, for $60,000,000. The sale resulted in net proceeds of $58,000,000, and a net gain of $33,058,000.

On September 23, 2013, we sold a retail property in Tampa, Florida for $45,000,000, of which our 75% share was $33,750,000. Our share of the net proceeds after repaying the existing loan and closing costs were $20,810,000, and our share of the net gain was $8,728,000.

We also sold 12 other properties, in separate transactions, for an aggregate of $82,300,000, in cash, which resulted in a net gain aggregating $7,851,000.

In accordance with the provisions of ASC 360, Property, Plant, and Equipment, we have reclassified the revenues and expenses of all of the properties discussed above to “income from discontinued operations” and the related assets and liabilities to “assets related to discontinued operations” and “liabilities related to discontinued operations” for all of the periods presented in the accompanying financial statements. The net gains resulting from the sale of these properties are included in “income from discontinued operations” on our consolidated statements of income. The tables below set forth the assets and liabilities related to discontinued operations at December 31, 2015 and 2014, and their combined results of operations for the years ended December 31, 2015, 2014 and 2013.

(Amounts in thousands)			Balance as of
			December 31, 2015			December 31, 2014
Assets related to discontinued operations:
Real estate, net			$	29,561		$	2,028,677
Other assets				7,459			205,451
			$	37,020		$	2,234,128

Liabilities related to discontinued operations:
Mortgages payable, net			$	-		$	1,278,182
Other liabilities (primarily deferred revenue in 2014)					12,470			222,827
			$	12,470		$	1,501,009


(Amounts in thousands)	For the Year Ended December 31,
	2015		2014			2013
Income from discontinued operations:
Total revenues	$	27,831	$	395,786		$	502,061
Total expenses		17,651		274,107			310,364
		10,180		121,679			191,697
Net gains on sales of real estate		65,396		507,192			414,502
Transaction related costs (primarily UE spin off)		(22,972)		(14,956)			-
Impairment losses		(256)		(26,518)			(37,170)
Net gain on sale of asset other than real estate		-		-			1,377
Pretax income from discontinued operations		52,348		587,397			570,406
Income tax expense		(86)		(1,721)			(2,311)
Income from discontinued operations	$	52,262	$	585,676		$	568,095


Cash flows related to discontinued operations:
Cash flows from operating activities	$	(33,462)	$	123,837		$	279,436
Cash flows from investing activities		346,865		(180,019)			(117,497)

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Identified Intangible Assets and Liabilities

12 Months Ended

Dec. 31, 2015

Identified Intangible Assets and Liabilities [Abstract]

Identified Intangible Assets and 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 December 31, 2015 and 2014.

(Amounts in thousands)	Balance as of December 31,
	2015		2014
Identified intangible assets:
Gross amount	$	415,261	$	424,976
Accumulated amortization		(187,360)		(199,821)
Net	$	227,901	$	225,155
Identified intangible liabilities (included in deferred revenue):
Gross amount	$	643,488	$	657,976
Accumulated amortization		(325,340)		(329,775)
Net	$	318,148	$	328,201

Amortization of acquired below-market leases, net of acquired above-market leases, resulted in an increase to rental income of $78,749,000, $37,516,000 and $41,970,000 for the years ended December 31, 2015, 2014 and 2013, 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, 2016 is as follows:

(Amounts in thousands)
2016	$	52,359
2017		44,501
2018		43,028
2019		31,011
2020		23,320

Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $36,659,000, $28,275,000 and $61,915,000 for the years ended December 31, 2015, 2014 and 2013, 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, 2016 is as follows:

(Amounts in thousands)
2016	$	29,349
2017		24,427
2018		20,063
2019		15,779
2020		12,345

We are a tenant under ground leases at certain properties. Amortization of these acquired below-market leases, net of above-market leases, resulted in an increase to rent expense of $1,832,000, $1,832,000, and $2,745,000 for the years ended December 31, 2015, 2014 and 2013. Estimated annual amortization of these below-market leases, net of above-market leases, for each of the five succeeding years commencing January 1, 2016 is as follows:

(Amounts in thousands)
2016	$	1,832
2017		1,832
2018		1,832
2019		1,832
2020		1,832

Debt

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Debt

9. Debt

Secured Debt

On April 1, 2015, we completed a $308,000,000 refinancing of RiverHouse Apartments, a three building, 1,670 unit rental complex located in Arlington, VA. The loan is interest only at LIBOR plus 1.28% (1.52% at December 31, 2015) and matures in 2025. We realized net proceeds of approximately $43,000,000. The property was previously encumbered by a 5.43%, $195,000,000 mortgage maturing in April 2015 and a $64,000,000 mortgage at LIBOR plus 1.53% maturing in 2018.

On June 2, 2015, we completed a $205,000,000 financing in connection with the acquisition of 150 West 34th Street (see Note 4 – Acquisitions). The loan bears interest at LIBOR plus 2.25% (2.52% at December 31, 2015) and matures in 2018 with two one-year extension options.

On July 28, 2015, we completed a $580,000,000 refinancing of 100 West 33rd Street, a 1.1 million square foot property comprised of 855,000 square feet of office space and the 256,000 square foot Manhattan Mall. The loan is interest only at LIBOR plus 1.65% (1.92% at December 31, 2015) and matures in July 2020. We realized net proceeds of approximately $242,000,000.

On September 22, 2015, we upsized the loan on our 220 Central Park South development by $350,000,000 to $950,000,000. The interest rate on the loan is LIBOR plus 2.00% (2.42% at December 31, 2015) and the final maturity date is 2020. In connection with the upsizing, the standby commitment for a $500,000,000 mezzanine loan for this development has been terminated by payment of a $15,000,000 contractual termination fee, which was capitalized as a component of “development costs and construction in progress” on our consolidated balance sheet as of December 31, 2015.

On December 11, 2015, we completed a $375,000,000 refinancing of 888 Seventh Avenue, a 882,000 square foot Manhattan office building. The five-year loan is interest only at LIBOR plus 1.60% (1.92% at December 31, 2015) which was swapped for the term of the loan to a fixed rate of 3.15% and matures in December 2020. We realized net proceeds of approximately $49,000,000.

On December 21, 2015, we completed a $450,000,000 financing of the retail condominium of the St. Regis Hotel and the adjacent retail town house located on Fifth Avenue at 55th Street. The loan matures in December 2020, with two one-year extension options. The loan is interest only at LIBOR plus 1.80% (2.19% at December 31, 2015) for the first three years, LIBOR plus 1.90% for years four and five, and LIBOR plus 2.00% during the extension periods. We own a 74.3% controlling interest in the joint venture which owns the property.

Senior Unsecured Notes

On January 1, 2015, we redeemed all of the $500,000,000 principal amount of our outstanding 4.25% senior unsecured notes, which were scheduled to mature on April 1, 2015, at a redemption price of 100% of the principal amount plus accrued interest through December 31, 2014.

Unsecured Term Loan

On October 30, 2015, we entered into an unsecured delayed-draw term loan facility in the maximum amount of $750,000,000. The facility matures in October 2018 with two one-year extension options. The interest rate is LIBOR plus 1.15% (1.40% at December 31, 2015) with a fee of 0.20% per annum on the unused portion. At closing, we drew $187,500,000. The facility provides that the maximum amount available is twice the amount outstanding on April 29, 2016, limited to $750,000,000, and all draws must be made by October 2017. This facility, together with the $950,000,000 development loan mentioned above, provides the funding for our 220 Central Park South development.

The following is a summary of our debt:

(Amounts in thousands)			Weighted Average
			Interest Rate at			Balance at December 31,
			December 31, 2015			2015		2014
Mortgages Payable:
	Fixed rate			4.29%	$	6,356,634	$	6,497,286
	Variable rate			2.14%		3,258,204		1,763,769
		Total		3.56%		9,614,838		8,261,055
	Deferred financing costs, net and other					(101,125)		(73,212)
		Total, net			$	9,513,713	$	8,187,843

Unsecured Debt:
	Senior unsecured notes			3.68%	$	850,000	$	1,350,000
	Deferred financing costs, net and other					(5,841)		(7,506)
		Senior unsecured notes, net				844,159		1,342,494

	Unsecured term loan			1.40%		187,500		-
	Deferred financing costs, net and other					(4,362)		-
		Unsecured term loan, net				183,138		-

	Unsecured revolving credit facilities			1.38%		550,000		-

		Total, net			$	1,577,297	$	1,342,494

The net carrying amount of properties collateralizing the mortgages payable amounted to $9.6 billion at December 31, 2015. As of December 31, 2015, the principal repayments required for the next five years and thereafter are as follows:

(Amounts in thousands)				Senior Unsecured
				Debt and Unsecured
				Revolving Credit
		Mortgages Payable		Facilities
Year Ending December 31,
2016	$	1,095,366	$	550,000
2017		411,113		-
2018		441,354		-
2019		379,122		450,000
2020		2,835,451		187,500
Thereafter		4,452,432		400,000

Redeemable Noncontrolling Interests

12 Months Ended

Dec. 31, 2015

Redeemable Noncontrolling Interests [Abstract]

Redeemable Noncontrolling Interests

10. Redeemable Noncontrolling Interests

Redeemable noncontrolling interests on our consolidated balance sheets are primarily comprised of Class A Operating Partnership units held by third parties and 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. Class A units may be tendered for redemption to the Operating Partnership for cash; we, at our option, may assume that obligation and pay the holder either cash or Vornado common shares on a one-for-one basis. Because the number of Vornado common shares outstanding at all times equals the number of Class A units owned by Vornado, the redemption value of each Class A unit is equivalent to the market value of one Vornado common share, and the quarterly distribution to a Class A unitholder is equal to the quarterly dividend paid to a Vornado common shareholder.

Below are the details of redeemable noncontrolling interests as of December 31, 2015 and 2014.


(Amounts in thousands, except units and										Preferred or
per unit amounts)		Balance as of				Units Outstanding at		Per Unit		Annual
		December 31,				December 31,		Liquidation		Distribution
Unit Series		2015			2014	2015	2014	Preference		Rate
Common:
	Class A	$	1,223,793	$	1,336,780	12,242,820	11,356,550		n/a	$	2.52

Perpetual Preferred: ⁽¹⁾
	5.00% D-16 Cumulative Redeemable	$	1,000	$	1,000	1	1	$	1,000,000.00	$	50,000.00
	3.25% D-17 Cumulative Redeemable	$	4,428	$	-	177,100	-	$	25.00	$	0.8125


(1)	Holders may tender units for redemption to the Operating Partnership for cash at their stated redemption amount; we, at our option, may assume that obligation and pay the holders either cash or Vornado preferred shares on a one-for-one basis. These units are redeemable at our option at any time.

Below is a table summarizing the activity of redeemable noncontrolling interests.

	(Amounts in thousands)
	Balance at December 31, 2013	$	1,003,620
	Net income		47,613
	Other comprehensive income		1,323
	Distributions		(33,469)
	Redemption of Class A units for common shares, at redemption value		(27,273)
	Adjustments to carry redeemable Class A units at redemption value		315,276
	Other, net		30,690
	Balance at December 31, 2014		1,337,780
	Net income		43,231
	Other comprehensive income		(2,866)
	Distributions		(30,263)
	Redemption of Class A units for common shares, at redemption value		(48,230)
	Adjustments to carry redeemable Class A units at redemption value		(192,464)
	Issuance of Class A units		80,000
	Issuance of Series D-17 Preferred Units		4,428
	Other, net		37,605
	Balance at December 31, 2015	$	1,229,221

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 $50,561,000 and $55,097,000 as of December 31, 2015 and 2014, respectively. Changes in the value from period to period, if any, are charged to “interest and debt expense” on our consolidated statements of income.

Shareholders' Equity

12 Months Ended

Dec. 31, 2015

Shareholders' Equity [Abstract]

Shareholders' Equity

11. Shareholders' Equity

Common Shares

As of December 31, 2015, there were 188,576,853 common shares outstanding. During 2015, we paid an aggregate of $474,751,000 of common dividends comprised of quarterly common dividends of $0.63 per share.

Preferred Shares

The following table sets forth the details of our preferred shares of beneficial interest as of December 31, 2015 and 2014.

(Amounts in thousands, except share and		Balance as of				Shares Outstanding at		Per Share		Annual
per share amounts)		December 31,				December 31,		Liquidation		Dividend
Preferred Shares		2015		2014		2015	2014	Preference		Rate⁽¹⁾
Convertible Preferred:
	6.5% Series A: authorized 83,977 shares⁽²⁾	$	1,321	$	1,393	26,629	28,939	$	50.00	$	3.25
Cumulative Redeemable:
	6.625% Series G: authorized 8,000,000 shares⁽³⁾		193,135		193,135	8,000,000	8,000,000	$	25.00	$	1.65625
	6.625% Series I: authorized 10,800,000 shares⁽³⁾		262,379		262,379	10,800,000	10,800,000	$	25.00	$	1.65625
	6.875% Series J: authorized 9,850,000 shares⁽³⁾		238,842		238,842	9,850,000	9,850,000	$	25.00	$	1.71875
	5.70% Series K: authorized 12,000,000 shares⁽³⁾		290,971		290,971	12,000,000	12,000,000	$	25.00	$	1.425
	5.40% Series L: authorized 12,000,000 shares⁽³⁾		290,306		290,306	12,000,000	12,000,000	$	25.00	$	1.35
		$	1,276,954	$	1,277,026	52,676,629	52,678,939


(1)	Dividends on preferred shares are cumulative and are payable quarterly in arrears.
(2)	Redeemable at our option under certain circumstances, at a redemption price of 1.5934 and 1.4334 common shares per Series A Preferred Share plus accrued and unpaid dividends through the date of redemption, or convertible at any time at the option of the holder for 1.5934 and 1.4334 common shares per Series A Preferred Share, as of December 31, 2015 and 2014, respectively.
(3)	Redeemable at our option at a redemption price of $25.00 per share, plus accrued and unpaid dividends through the date of redemption.

Accumulated Other Comprehensive Income (Loss)

The following tables set forth the changes in accumulated other comprehensive income (loss) by component.

(Amounts in thousands)	For the Year Ended December 31, 2015
			Securities		Pro rata share of		Interest
			available-		nonconsolidated		rate
	Total		for-sale		subsidiaries' OCI		swap		Other
Balance as of December 31, 2014	$	93,267	$	133,774	$	(8,992)	$	(25,803)	$	(5,712)
Net current period OCI		(46,346)		(55,326)		(327)		6,435		2,872
Balance as of December 31, 2015	$	46,921	$	78,448	$	(9,319)	$	(19,368)	$	(2,840)

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Variable Interest Entities ("VIEs")

12 Months Ended

Dec. 31, 2015

Variable Interest Entities [Abstract]

Variable Interest Entities ("VIEs")

12. Variable Interest Entities (“VIEs”)

Unconsolidated VIEs

As of December 31, 2015 and 2014, we have six and three unconsolidated VIEs, respectively. We do not consolidate these entities because we are not the primary beneficiary and the nature of our involvement in the activities of these entities does not give us power over decisions that significantly affect these entities' economic performance. We account for our investment in these entities under the equity method (see Note 6 – Investments in Partially Owned Entities). As of December 31, 2015 and 2014, the net carrying amount of our investments in these entities was $379,939,000 and $286,783,000, respectively, and our maximum exposure to loss in these entities, is limited to our investments. We did not have any consolidated VIEs as of December 31, 2015 and 2014.

Fair Value Measurements

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

13. Fair Value Measurements

ASC 820 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 on a Recurring Basis

Financial assets and liabilities that are measured at fair value on our consolidated balance sheets consist of (i) marketable securities, (ii) real estate fund investments, (iii) the assets in our deferred compensation plan (for which there is a corresponding liability on our consolidated balance sheet), (iv) mandatorily redeemable instruments (Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units), and (v) interest rate swaps. The tables below aggregate the fair values of these financial assets and liabilities by their levels in the fair value hierarchy at December 31, 2015 and 2014, respectively.

(Amounts in thousands)		As of December 31, 2015
		Total		Level 1		Level 2		Level 3
Marketable securities		$	150,997	$	150,997	$	-	$	-
Real estate fund investments (75% of which is attributable to
	noncontrolling interests)		574,761		-		-		574,761
Deferred compensation plan assets (included in other assets)			117,475		58,289		-		59,186
	Total assets	$	843,233	$	209,286	$	-	$	633,947

Mandatorily redeemable instruments (included in other liabilities)		$	50,561	$	50,561	$	-	$	-
Interest rate swaps (included in other liabilities)			19,600		-		19,600		-
	Total liabilities	$	70,161	$	50,561	$	19,600	$	-


(Amounts in thousands)		As of December 31, 2014
		Total		Level 1		Level 2		Level 3
Marketable securities		$	206,323	$	206,323	$	-	$	-
Real estate fund investments (75% of which is attributable to
	noncontrolling interests)		513,973		-		-		513,973
Deferred compensation plan assets (included in other assets)			117,284		53,969		-		63,315
	Total assets	$	837,580	$	260,292	$	-	$	577,288

Mandatorily redeemable instruments (included in other liabilities)		$	55,097	$	55,097	$	-	$	-
Interest rate swap (included in other liabilities)			25,797		-		25,797		-
	Total liabilities	$	80,894	$	55,097	$	25,797	$	-

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - continued

Real Estate Fund Investments

At December 31, 2015, we had six real estate fund investments with an aggregate fair value of $574,761,000, or $208,614,000 in excess of cost. These investments are classified as Level 3. We use a discounted cash flow valuation technique to estimate the fair value of each of these investments, which is updated quarterly by personnel responsible for the management of each investment and reviewed by senior management at each reporting period. The discounted cash flow valuation technique requires us to estimate cash flows for each investment over the anticipated holding period, which currently ranges from 1.0 to 5.0 years. Cash flows are derived from property rental revenue (base rents plus reimbursements) less operating expenses, real estate taxes and capital and other costs, plus projected sales proceeds in the year of exit. Property rental revenue is based on leases currently in place and our estimates for future leasing activity, which are based on current market rents for similar space plus a projected growth factor. Similarly, estimated operating expenses and real estate taxes are based on amounts incurred in the current period plus a projected growth factor for future periods. Anticipated sales proceeds at the end of an investment's expected holding period are determined based on the net cash flow of the investment in the year of exit, divided by a terminal capitalization rate, less estimated selling costs.

The fair value of each property is calculated by discounting the future cash flows (including the projected sales proceeds), using an appropriate discount rate and then reduced by the property's outstanding debt, if any, to determine the fair value of the equity in each investment. Significant unobservable quantitative inputs used in determining the fair value of each investment include capitalization rates and discount rates. These rates are based on the location, type and nature of each property, and current and anticipated market conditions, industry publications and from the experience of our Acquisitions and Capital Markets departments. Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of these real estate fund investments at December 31, 2015.

			Weighted Average
			(based on fair
Unobservable Quantitative Input		Range	value of investments)
	Discount rates	12.0% to 14.9%	13.6%
	Terminal capitalization rates	4.8% to 6.1%	5.5%

The above inputs are subject to change based on changes in economic and market conditions and/or changes in use or timing of exit. Changes in discount rates and terminal capitalization rates result in increases or decreases in the fair values of these investments. The discount rates encompass, among other things, uncertainties in the valuation models with respect to terminal capitalization rates and the amount and timing of cash flows. Therefore, a change in the fair value of these investments resulting from a change in the terminal capitalization rate, may be partially offset by a change in the discount rate. It is not possible for us to predict the effect of future economic or market conditions on our estimated fair values.

The table below summarizes the changes in the fair value of real estate fund investments that are classified as Level 3, for the years ended December 31, 2015 and 2014.

(Amounts in thousands)	For The Year Ended December 31,
	2015		2014
Beginning balance	$	513,973	$	667,710
Purchases		95,010		3,392
Dispositions / Distributions		(91,450)		(307,268)
Net unrealized gains		54,995		73,802
Net realized gains		2,757		76,337
Other, net		(524)		-
Ending balance	$	574,761	$	513,973

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - continued

Deferred Compensation Plan Assets

Deferred compensation plan assets that are classified as Level 3 consist of investments in limited partnerships and investment funds, which are managed by third parties. We receive quarterly financial reports from a third-party administrator, which are compiled from the quarterly reports provided to them from each limited partnership and investment fund. The quarterly reports provide net asset values on a fair value basis which are audited by independent public accounting firms on an annual basis. The third-party administrator does not adjust these values in determining our share of the net assets and we do not adjust these values when reported in our consolidated financial statements.

The table below summarizes the changes in the fair value of deferred compensation plan assets that are classified as Level 3, for the years ended December 31, 2015 and 2014.

(Amounts in thousands)	For The Year Ended December 31,
	2015		2014
Beginning balance	$	63,315	$	68,782
Purchases		9,062		14,162
Sales		(13,252)		(24,951)
Realized and unrealized gains		(501)		3,415
Other, net		562		1,907
Ending balance	$	59,186	$	63,315

Fair Value Measurements on a Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis on our consolidated balance sheets consist primarily of real estate assets required to be measured for impairment at December 31, 2014. There are no assets measured at fair value on a nonrecurring basis at December 31, 2015. The fair values of real estate assets required to be measured for impairment were determined using widely accepted valuation techniques, including (i) discounted cash flow analysis, which considers, among other things, leasing assumptions, growth rates, discount rates and terminal capitalization rates, (ii) income capitalization approach, which considers prevailing market capitalization rates, and (iii) comparable sales activity.

(Amounts in thousands)	As of December 31, 2015
	Total		Level 1		Level 2		Level 3
Real estate assets	$	-	$	-	$	-	$	-

(Amounts in thousands)	As of December 31, 2014
	Total		Level 1		Level 2		Level 3
Real estate assets	$	4,848	$	-	$	-	$	4,848

Financial Assets and Liabilities not Measured at Fair Value

Financial assets and liabilities that are not measured at fair value on our consolidated balance sheets include cash equivalents (primarily money market funds, which invest in obligations of the United States government), mezzanine loan receivable and our secured and unsecured debt. Estimates of the fair value of these instruments are determined by the standard practice of modeling the contractual cash flows required under the instrument and discounting them back to their present value at the appropriate current risk adjusted interest rate, which is provided by a third-party specialist. For floating rate debt, we use forward rates derived from observable market yield curves to project the expected cash flows we would be required to make under the instrument. The fair value of cash equivalents and borrowings under our unsecured revolving credit facilities and unsecured term loan are classified as Level 1, and the fair value of our mezzanine loan receivable as of December 31, 2014 is classified as Level 3. There are no mezzanine loans outstanding as of December 31, 2015. The fair value of our secured and unsecured debt is classified as Level 2. The table below summarizes the carrying amounts and fair value of these financial instruments as of December 31, 2015 and 2014.

(Amounts in thousands)			As of December 31, 2015				As of December 31, 2014
			Carrying		Fair		Carrying		Fair
			Amount		Value		Amount		Value
Cash equivalents			$	1,295,980	$	1,296,000	$	749,418	$	749,000
Mezzanine loan receivable (included in other assets)				-		-		16,748		17,000
			$	1,295,980	$	1,296,000	$	766,166	$	766,000
Debt:
	Mortgages payable		$	9,614,838	$	9,306,000	$	8,261,055	$	8,224,000
	Senior unsecured notes			850,000		868,000		1,350,000		1,385,000
	Unsecured term loan			187,500		187,500		-		-
	Unsecured revolving credit facilities			550,000		550,000		-		-
		Total	$	11,202,338	$	10,911,500	$	9,611,055	$	9,609,000

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stock-based Compensation

12 Months Ended

Dec. 31, 2015

Stock-based Compensation [Abstract]

Stock-based Compensation

14. Stock-based Compensation

Our Omnibus Share Plan (the “Plan”), which was approved in May 2010, provides the Compensation Committee of the Board (the “Committee”) the ability to grant incentive and non-qualified stock options, restricted stock, restricted Operating Partnership units and out-performance plan awards to certain of our employees and officers. Under the Plan, awards may be granted up to a maximum of 6,000,000 shares, if all awards granted are Full Value Awards, as defined, and up to 12,000,000 shares, if all of the awards granted are Not Full Value Awards, as defined, plus shares in respect of awards forfeited after May 2010 that were issued pursuant to our 2002 Omnibus Share Plan. Full Value Awards are awards of securities, such as restricted shares, that, if all vesting requirements are met, do not require the payment of an exercise price or strike price to acquire the securities. Not Full Value Awards are awards of securities, such as options, that do require the payment of an exercise price or strike price. This means, for example, if the Committee were to award only restricted shares, it could award up to 6,000,000 restricted shares. On the other hand, if the Committee were to award only stock options, it could award options to purchase up to 12,000,000 shares (at the applicable exercise price). The Committee may also issue any combination of awards under the Plan, with reductions in availability of future awards made in accordance with the above limitations. As of December 31, 2015, we have approximately 3,570,000 shares available for future grants under the Plan, if all awards granted are Full Value Awards, as defined.

In the years ended December 31, 2015, 2014 and 2013, we recognized an aggregate of $39,846,000, $36,641,000 and $34,914,000, respectively, of stock-based compensation expense, which is included as a component of “general and administrative” expenses on our consolidated statements of income. The year ended December 31, 2015 includes $7,834,000 from the acceleration of the recognition of compensation expense related to 2013-2015 Out-Performance Plans due to the modification of the vesting criteria of awards such that they will fully vest at age 65. The accelerated expense will result in lower general and administrative expense for 2016 of $3,679,000 and $4,155,000 thereafter. The details of the various components of our stock-based compensation are discussed below.

Out-Performance Plans (“the OPPs”)

OPPs are multi-year, performance-based equity compensation plans under which participants, including our Chairman and Chief Executive Officer, have the opportunity to earn a class of units (“OPP units”) of the Operating Partnership if, and only if, we outperform a predetermined total shareholder return (“TSR”) and/or outperform the market with respect to a relative TSR in any year during the requisite performance periods as described below. OPP units, if earned, become convertible into Class A common units of the Operating Partnership (and ultimately into shares) following vesting.

Awards under the 2012 and 2013 OPP have been earned. Awards under the 2014 and 2015 OPP may be earned if we (i) achieve a TSR level greater than 7% per annum, or 21% over the three-year performance measurement periods (the “Absolute Component”), and/or (ii) achieve a TSR above that of the Index over the three-year performance measurement periods (the “Relative Component”). To the extent awards would be earned under the Absolute Component of each of the OPPs, but we underperform the Index, such awards would be reduced (and potentially fully negated) based on the degree to which we underperform the Index. In certain circumstances, in the event we outperform the Index but awards would not otherwise be fully earned under the Absolute Component, awards may still be earned or increased under the Relative Component. To the extent awards would otherwise be earned under the Relative Component but we fail to achieve at least a 6% per annum absolute TSR, such awards earned under the Relative Component would be reduced based on our absolute TSR, with no awards being earned in the event our TSR during the applicable measurement period is 0% or negative, irrespective of the degree to which we may outperform the Index. Dividends on awards issued accrue during the performance period.

If the designated performance objectives are achieved, OPP units are subject to time-based vesting requirements. Awards earned under the OPPs vest 33% in year three, 33% in year four and 34% in year five. Our executive officers (for the purposes of Section 16 of the Exchange Act) are required to hold earned 2013, 2014 and 2015 OPP awards for one year following vesting.

Below is the summary of the OPP units earned through December 31, 2015 and the aggregate grant date notional and fair values.


Plan Year		Notional Amount		Grant-Date Fair Value⁽¹⁾		OPP Units Earned
2015		$	40,000,000	$	9,120,000	To be determined in 2017
2014			50,000,000		8,202,000	To be determined in 2016
2013			40,000,000		6,814,000	85,420
2012			40,000,000		12,250,000	303,202


(1)	Such amounts are being amortized into expense over a five-year period from the date of grant, using a graded vesting attribution model. In the years ended December 31, 2015, 2014 and 2013, we recognized $15,531,000, $6,185,000 and $3,226,000, respectively, of compensation expense related to OPPs. As of December 31, 2015, there was $5,087,000 of total unrecognized compensation cost related to the OPPs, which will be recognized over a weighted-average period of 1.7 years.

Stock Options

Stock options are granted at an exercise price equal to the average of the high and low market price of our common shares on the NYSE on the date of grant, generally vest over four years and expire 10 years from the date of grant. Compensation expense related to stock option awards is recognized on a straight-line basis over the vesting period. In the years ended December 31, 2015, 2014 and 2013, we recognized $1,298,000, $4,550,000 and $8,234,000, respectively, of compensation expense related to stock options that vested during each year. As of December 31, 2015, there was $1,325,000 of total unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted-average period of 1.7 years.

Below is a summary of our stock option activity for the year ended December 31, 2015.

					Weighted-
			Weighted-		Average
			Average		Remaining	Aggregate
			Exercise		Contractual	Intrinsic
		Shares	Price		Term	Value
Outstanding at January 1, 2015⁽¹⁾		2,965,968	$	60.82
Granted		35,208		112.10
Exercised		(160,266)		82.21
Cancelled or expired		(13,340)		100.21
Outstanding at December 31, 2015		2,827,570	$	60.06	4.0	$	115,796,000
Options vested and expected to vest at
	December 31, 2015	2,826,685	$	60.06	4.0	$	115,788,000
Options exercisable at December 31, 2015		2,741,863	$	59.08	3.8	$	114,653,000


(1)	Adjusted for the effect of the UE spin-off.

The fair value of each option grant is estimated on the date of grant using an option-pricing model with the following weighted-average assumptions for grants in the years ended December 31, 2015, 2014 and 2013.

	December 31,
	2015	2014	2013
Expected volatility	35.00%	36.00%	36.00%
Expected life	5.0 years	5.0 years	5.0 years
Risk free interest rate	1.56%	1.81%	0.91%
Expected dividend yield	3.30%	4.10%	4.30%

The weighted average grant date fair value of options granted during the years ended December 31, 2015, 2014 and 2013 was $28.85, $20.31 and $17.18, respectively. Cash received from option exercises for the years ended December 31, 2015, 2014 and 2013 was $15,343,000, $17,441,000 and $5,915,000, respectively. The total intrinsic value of options exercised during the years ended December 31, 2015, 2014 and 2013 was $3,873,000, $18,223,000 and $3,386,000, respectively.

Restricted Stock

Restricted stock awards are granted at the average of the high and low market price of our common shares on the NYSE on the date of grant and generally vest over four years. Compensation expense related to restricted stock awards is recognized on a straight-line basis over the vesting period. In the years ended December 31, 2015, 2014 and 2013, we recognized $837,000, $1,303,000 and $1,344,000, respectively, of compensation expense related to restricted stock awards that vested during each year. As of December 31, 2015, there was $1,315,000 of total unrecognized compensation cost related to unvested restricted stock, which is expected to be recognized over a weighted-average period of 1.7 years. Dividends paid on unvested restricted stock are charged directly to retained earnings and amounted to $58,000, $88,000 and $110,000 for the years ended December 31, 2015, 2014 and 2013, respectively.

Below is a summary of our restricted stock activity under the Plan for the year ended December 31, 2015.

			Weighted-Average
			Grant-Date
Unvested Shares		Shares	Fair Value
Unvested at January 1, 2015⁽¹⁾		24,478	$	78.32
Granted		8,177		110.84
Vested		(11,298)		78.08
Cancelled or expired		(1,765)		88.69
Unvested at December 31, 2015		19,592		91.09


(1)	Adjusted for the effect of the UE spin-off.

Restricted stock awards granted in 2015, 2014 and 2013 had a fair value of $906,000, $1,048,000 and $857,000, respectively. The fair value of restricted stock that vested during the years ended December 31, 2015, 2014 and 2013 was $882,000, $1,174,000 and $1,194,000, respectively.

Restricted Operating Partnership Units (“OP Units”)

OP Units are granted at the average of the high and low market price of our common shares on the NYSE on the date of grant, vest ratably over four years and are subject to a taxable book-up event, as defined. Compensation expense related to OP Units is recognized ratably over the vesting period using a graded vesting attribution model. In the years ended December 31, 2015, 2014 and 2013, we recognized $22,180,000, $24,603,000 and $22,110,000, respectively, of compensation expense related to OP Units that vested during each year. As of December 31, 2015, there was $18,625,000 of total unrecognized compensation cost related to unvested OP Units, which is expected to be recognized over a weighted-average period of 1.6 years. Distributions paid on unvested OP Units are charged to “net income attributable to noncontrolling interests in the Operating Partnership” on our consolidated statements of income and amounted to $2,414,000, $2,866,000 and $2,598,000 in the years ended December 31, 2015, 2014 and 2013, respectively.

Below is a summary of restricted OP unit activity under the Plan for the year ended December 31, 2015.

			Weighted-Average
			Grant-Date
Unvested Units		Units	Fair Value
Unvested at January 1, 2015⁽¹⁾		721,662	$	74.38
Granted		197,497		102.75
Vested		(270,443)		74.22
Cancelled or expired		(9,699)		83.89
Unvested at December 31, 2015		639,017		83.07


(1)	Adjusted for the effect of the UE spin-off.

OP Units granted in 2015, 2014 and 2013 had a fair value of $20,293,000, $19,669,000 and $31,947,000, respectively. The fair value of OP Units that vested during the years ended December 31, 2015, 2014 and 2013 was $20,072,000, $22,758,000 and $16,404,000, respectively.

Fee and Other Income

12 Months Ended

Dec. 31, 2015

Fee and Other Income [Abstract]

Fee and Other Income

15. Fee and Other Income

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

(Amounts in thousands)		For the Year Ended December 31,
		2015		2014		2013
BMS cleaning fees		$	82,113	$	85,658	$	66,505
Lease termination fees⁽¹⁾			27,233		16,362		32,630
Management and leasing fees			16,831		19,905		23,073
Other income			38,528		33,281		33,363
		$	164,705	$	155,206	$	155,571


(1)	The year ended December 31, 2015 includes $15,000 related to the New York Stock Exchange lease termination at 20 Broad Street. The year ended December 31, 2013 includes $19,500 from a tenant at 1290 Avenue of the Americas, of which our 70% share, net of a $1,529 write-off of the straight lining of rents, was $12,121; and $3,000 from the termination of our subsidiaries' agreements with Cuyahoga County to operate the Cleveland Medical Mart Convention Center.

The above table excludes fee income from partially owned entities, which is included in “loss from partially owned entities” (see Note 6 – Investments in Partially Owned Entities).

Interest and Other Investment Income (Loss), Net

12 Months Ended

Dec. 31, 2015

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

Interest and Other Investment Income (Loss), Net

16. Interest and Other Investment Income (Loss), Net

The following table sets forth the details of our interest and other investment income (loss), net:

(Amounts in thousands)		For the Year Ended December 31,
		2015		2014		2013
Dividends on marketable securities		$	12,836	$	12,707	$	11,446
Interest on loans receivable			6,371		6,107		20,683
Mark-to-market of investments in our deferred compensation plan⁽¹⁾			111		11,557		10,636
Losses from the disposition of investment in J.C. Penney			-		-		(72,974)
Other, net			7,660		8,381		5,322
		$	26,978	$	38,752	$	(24,887)


(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.

Interest and Debt Expense

12 Months Ended

Dec. 31, 2015

Interest and Debt Expense [Abstract]

Interest And Debt Expenss

17. Interest and Debt Expense

The following table sets forth the details of our interest and debt expense.

(Amounts in thousands)	For the Year Ended December 31,
	2015		2014		2013
Interest expense	$	405,169	$	430,278	$	444,412
Amortization of deferred financing costs		32,161		45,263		23,673
Capitalized interest and debt expense		(59,305)		(62,786)		(42,303)
	$	378,025	$	412,755	$	425,782

Income Per Share

12 Months Ended

Dec. 31, 2015

Income Per Share [Abstract]

Income Per Share

18. 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 includes 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 dilutive share equivalents. Dilutive share equivalents may include our Series A convertible preferred shares, employee stock options and restricted stock awards.


(Amounts in thousands, except per share amounts)			Year Ended December 31,
			2015		2014		2013
Numerator:
	Income (loss) from continuing operations, net of income attributable to
		noncontrolling interests	$	711,240	$	312,700	$	(56,727)
	Income from discontinued operations, net of income attributable to noncontrolling
		interests		49,194		552,152		532,698
	Net income attributable to Vornado			760,434		864,852		475,971
	Preferred share dividends			(80,578)		(81,464)		(82,807)
	Preferred unit and share redemptions			-		-		(1,130)
	Net income attributable to common shareholders			679,856		783,388		392,034
	Earnings allocated to unvested participating securities			(81)		(125)		(110)
	Numerator for basic income per share			679,775		783,263		391,924
	Impact of assumed conversions:
		Convertible preferred share dividends		91		97		-
	Numerator for diluted income per share		$	679,866	$	783,360	$	391,924

Denominator:
	Denominator for basic income per share – weighted average shares			188,353		187,572		186,941
	Effect of dilutive securities ⁽¹⁾:
		Employee stock options and restricted share awards		1,166		1,075		768
		Convertible preferred shares		45		43		-
	Denominator for diluted income per share – weighted average shares and
		assumed conversions		189,564		188,690		187,709

INCOME (LOSS) PER COMMON SHARE – BASIC:
	Income (loss) from continuing operations, net		$	3.35	$	1.23	$	(0.75)
	Income from discontinued operations, net			0.26		2.95		2.85
	Net income per common share		$	3.61	$	4.18	$	2.10

INCOME (LOSS) PER COMMON SHARE – DILUTED:
	Income (loss) from continuing operations, net		$	3.33	$	1.22	$	(0.75)
	Income from discontinued operations, net			0.26		2.93		2.84
	Net income per common share		$	3.59	$	4.15	$	2.09


(1)	The effect of dilutive securities in the years ended December 31, 2015, 2014 and 2013 excludes an aggregate of 11,744, 11,238 and 11,752 weighted average common share equivalents, respectively, as their effect was anti-dilutive.

Leases

12 Months Ended

Dec. 31, 2015

Leases [Abstract]

Leases

19. Leases

As lessor:

We lease space to tenants under operating leases. Most of the leases provide for the payment of fixed base rentals payable monthly in advance. Office building leases generally require the tenants to reimburse us for operating costs and real estate taxes above their base year costs. Shopping center leases provide for pass-through to tenants the tenant's share of real estate taxes, insurance and maintenance. Shopping center leases also provide for the payment by the lessee of additional rent based on a percentage of the tenants' sales. As of December 31, 2015, future base rental revenue under non-cancelable operating leases, excluding rents for leases with an original term of less than one year and rents resulting from the exercise of renewal options, are as follows:


(Amounts in thousands)
Year Ending December 31:
2016	$	1,633,615
2017		1,686,056
2018		1,644,440
2019		1,496,805
2020		1,349,724
Thereafter		8,103,382

These amounts do not include percentage rentals based on tenants' sales. These percentage rents approximated $5,760,000, $6,343,000 and $7,344,000, for the years ended December 31, 2015, 2014 and 2013, respectively.

None of our tenants accounted for more than 10% of total revenues in any of the years ended December 31, 2015, 2014 and 2013.

As lessee:

We are a tenant under operating leases for certain properties. These leases have terms that expire during the next thirty years. Future minimum lease payments under operating leases at December 31, 2015 are as follows:


(Amounts in thousands)
Year Ending December 31:
2016	$	33,265
2017		34,831
2018		35,317
2019		35,826
2020		36,353
Thereafter		1,557,541

Rent expense was $38,887,000, $36,315,000 and $35,913,000 for the years ended December 31, 2015, 2014 and 2013, respectively.

We are also a lessee under a capital lease under which we will redevelop the retail and signage components of the Marriott Marquis Times Square Hotel. The lease has put/call options, which if exercised would lead to our ownership. Capitalized leases are recorded at the present value of future minimum lease payments or the fair market value of the property. Capitalized leases are depreciated on a straight-line basis over the estimated life of the asset or life of the related lease. Depreciation expense on capital leases is included in “depreciation and amortization” on our consolidated statements of income. As of December 31, 2015, future minimum lease payments under this capital lease are as follows:


(Amounts in thousands)
Year Ending December 31:
2016	$	12,500
2017		12,500
2018		12,500
2019		12,500
2020		12,500
Thereafter		322,292
Total minimum obligations		384,792
Interest portion		(144,792)
Present value of net minimum payments	$	240,000

At December 31, 2015, the gross carrying amount of the property leased under the capital lease was $424,369,000, which is a component of “buildings and improvements” on our consolidated balance sheet.

Multiemployer Benefit Plans

12 Months Ended

Dec. 31, 2015

Multiemployer Benefit Plans [Abstract]

Multiemployer Benefit Plans

20. Multiemployer Benefit Plans

Our subsidiaries make contributions to certain multiemployer defined benefit plans (“Multiemployer Pension Plans”) and health plans (“Multiemployer Health Plans”) for our union represented employees, pursuant to the respective collective bargaining agreements.

Multiemployer Pension Plans

Multiemployer Pension Plans differ from single-employer pension plans in that (i) contributions to multiemployer plans may be used to provide benefits to employees of other participating employers and (ii) if other participating employers fail to make their contributions, each of our participating subsidiaries may be required to bear its then pro rata share of unfunded obligations. If a participating subsidiary withdraws from a plan in which it participates, it may be subject to a withdrawal liability. As of December 31, 2015, our subsidiaries' participation in these plans was not significant to our consolidated financial statements.

In the years ended December 31, 2015, 2014 and 2013, our subsidiaries contributed $10,878,000, $11,431,000 and $10,223,000, respectively, towards Multiemployer Pension Plans, which is included as a component of “operating” expenses on our consolidated statements of income. Our subsidiaries' contributions did not represent more than 5% of total employer contributions in any of these plans for the years ended December 31, 2015, 2014 and 2013.

Multiemployer Health Plans

Multiemployer Health Plans in which our subsidiaries participate provide health benefits to eligible active and retired employees. In the years ended December 31, 2015, 2014 and 2013, our subsidiaries contributed $29,269,000, $29,073,000 and $26,262,000, respectively, towards these plans, which is included as a component of “operating” expenses on our consolidated statements of income.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

21. Commitments and Contingencies

Insurance

We maintain general liability insurance with limits of $300,000,000 per occurrence and per property, and all risk property and rental value insurance with limits of $2.0 billion per occurrence, with sub-limits for certain perils such as flood and earthquake. Our California properties have earthquake insurance with coverage of $180,000,000 per occurrence and in the annual aggregate, subject to a deductible in the amount of 5% of the value of the affected property. We maintain coverage for terrorism acts with limits of $4.0 billion per occurrence and in the aggregate, and $2.0 billion per occurrence and in the aggregate for terrorism involving nuclear, biological, chemical and radiological (“NBCR”) terrorism events, as defined by Terrorism Risk Insurance Program Reauthorization Act of 2015, which expires in December 2020.

Penn Plaza Insurance Company, LLC (“PPIC”), our wholly owned consolidated subsidiary, acts as a re-insurer with respect to a portion of all risk property and rental value insurance and a portion of our earthquake insurance coverage, and as a direct insurer for coverage for acts of terrorism including NBCR acts. 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. For NBCR acts, PPIC is responsible for a deductible of $3,200,000 ($2,400,000 effective January 1, 2016) per occurrence and 15% of the balance of a covered loss (16% effective January 1, 2016) and the Federal government is responsible for the remaining 85% of a covered loss (84% effective January 1, 2016). We are ultimately responsible for any loss incurred 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 the future.

Our debt instruments, consisting of mortgage loans secured by our properties which are non-recourse to us, senior unsecured notes 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.

Other Commitments and Contingencies

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 is not expected to have a material adverse effect on our financial position, results of operations or cash flows.

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.

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 December 31, 2015, the aggregate dollar amount of these guarantees and master leases is approximately $427,000,000.

At December 31, 2015, $38,096,000 of letters of credit were outstanding under one of our unsecured revolving credit facilities. Our unsecured revolving 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 unsecured revolving 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.

As of December 31, 2015, we expect to fund additional capital to certain of our partially owned entities aggregating approximately $70,000,000.

As of December 31, 2015, we have construction commitments aggregating $873,800,000.

Related Party Transactions

12 Months Ended

Dec. 31, 2015

Related Party Transactions Disclosure

22. Related Party Transactions

Alexander's

We own 32.4% of Alexander's. Steven Roth, the Chairman of our Board and Chief Executive Officer is also the Chairman of the Board and Chief Executive Officer of Alexander's. We provide various services to Alexander's in accordance with management, development and leasing agreements. These agreements are described in Note 6 - Investments in Partially Owned Entities.

Interstate Properties (“Interstate”)

Interstate is a general partnership in which Mr. Roth is the managing general partner. David Mandelbaum and Russell B. Wight, Jr., Trustees of Vornado and Directors of Alexander's, are Interstate's two other general partners. As of December 31, 2015, Interstate and its partners beneficially owned an aggregate of approximately 7.1% of the common shares of beneficial interest of Vornado and 26.3% of Alexander's common stock.

We manage and lease the real estate assets of Interstate pursuant to a management agreement for which we receive an annual fee equal to 4% of annual base rent and percentage rent. The management agreement has a term of one year and is automatically renewable unless terminated by either of the parties on 60 days' notice at the end of the term. We believe, based upon comparable fees charged by other real estate companies, that the management agreement terms are fair to us. We earned $541,000, $535,000, and $606,000 of management fees under the agreement for the years ended December 31, 2015, 2014 and 2013.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Summary of Quarterly Results (Unaudited)

12 Months Ended

Dec. 31, 2015

Summary of Quarterly Results (Unaudited) [Abstract]

Summary of Quarterly Results (Unaudited)

23. Summary of Quarterly Results (Unaudited)

The following summary represents the results of operations for each quarter in 2015 and 2014:

(Amounts in thousands, except per share amounts)				Net Income
				Attributable		Net Income Per
				to Common		Common Share (2)
		Revenues		Shareholders (1)		Basic		Diluted
2015
	December 31	$	651,581	$	230,742	$	1.22	$	1.22
	September 30		627,596		198,870		1.05		1.05
	June 30		616,288		165,651		0.88		0.87
	March 31		606,802		84,593		0.45		0.45

2014
	December 31	$	597,010	$	513,238	$	2.73	$	2.72
	September 30		578,710		131,159		0.70		0.69
	June 30		574,411		76,642		0.41		0.41
	March 31		562,381		62,349		0.33		0.33


(1)	Fluctuations among quarters resulted primarily from non-cash impairment losses, mark-to-market of derivative instruments, net gains on sale of real estate and from seasonality of business operations.
(2)	The total for the year may differ from the sum of the quarters as a result of weighting.

Segment Information

12 Months Ended

Dec. 31, 2015

Segment Information [Abstract]

Segment Information

24. Segment Information

As a result of the spin-off of substantially all of our Retail Properties segment (see Note 7 – Dispositions), the remaining retail properties no longer meet the criteria to be a separate reportable segment. In addition, as a result of our investment in Toys being reduced to zero, we suspended equity method accounting for our investment in Toys (see Note 6 – Investments in Partially Owned Entities) and the Toys segment no longer meets the criteria to be a separate reportable segment. Accordingly, effective January 1, 2015, the Retail Properties segment and Toys have been reclassified to the Other segment. Below is a summary of net income and a reconciliation of net income to EBITDA(1) by segment for the years ended December 31, 2015, 2014 and 2013.

(Amounts in thousands)		For the Year Ended December 31, 2015
			Total		New York			Washington, DC			Other
Total revenues			$	2,502,267	$	1,695,925		$	532,812		$	273,530
Total expenses				1,742,019		1,032,015			390,921			319,083
Operating income (loss)				760,248		663,910			141,891			(45,553)
(Loss) income from partially owned entities				(12,630)		655			(5,083)			(8,202)
Income from real estate fund investments				74,081		-			-			74,081
Interest and other investment income (loss), net				26,978		7,722			(262)			19,518
Interest and debt expense				(378,025)		(194,278)			(68,727)			(115,020)
Net gain on disposition of wholly owned and partially
	owned assets			251,821		142,693			102,404			6,724
Income (loss) before income taxes				722,473		620,702			170,223			(68,452)
Income tax benefit (expense)				84,695		(4,379)			(317)			89,391
Income from continuing operations				807,168		616,323			169,906			20,939
Income from discontinued operations				52,262		-			-			52,262
Net income				859,430		616,323			169,906			73,201
Less net income attributable to noncontrolling interests				(98,996)		(13,022)			-			(85,974)
Net income (loss) attributable to Vornado				760,434		603,301			169,906			(12,773)
Interest and debt expense⁽²⁾				469,843		248,724			82,386			138,733
Depreciation and amortization⁽²⁾				664,637		394,028			179,788			90,821
Income tax (benefit) expense⁽²⁾				(85,379)		4,766			(1,610)			(88,535)
EBITDA⁽¹⁾			$	1,809,535	$	1,250,819	⁽³⁾	$	430,470	⁽⁴⁾	$	128,246	⁽⁵⁾

Balance Sheet Data:
Real estate, at cost			$	18,090,137	$	10,577,078		$	4,544,842		$	2,968,217
Investments in partially owned entities				1,550,422		1,195,122			100,511			254,789
Total assets				21,143,293		12,257,774			4,536,895			4,348,624

See notes on pages 136 and 137.

(Amounts in thousands)		For the Year Ended December 31, 2014
			Total		New York			Washington, DC			Other
Total revenues			$	2,312,512	$	1,520,845		$	537,151		$	254,516
Total expenses				1,622,619		946,466			358,019			318,134
Operating income (loss)				689,893		574,379			179,132			(63,618)
(Loss) income from partially owned entities				(59,861)		20,701			(3,677)			(76,885)
Income from real estate fund investments				163,034		-			-			163,034
Interest and other investment income, net				38,752		6,711			183			31,858
Interest and debt expense				(412,755)		(183,427)			(75,395)			(153,933)
Net gain on disposition of wholly owned and partially
	owned assets			13,568		-			-			13,568
Income (loss) before income taxes				432,631		418,364			100,243			(85,976)
Income tax expense				(9,281)		(4,305)			(242)			(4,734)
Income (loss) from continuing operations				423,350		414,059			100,001			(90,710)
Income from discontinued operations				585,676		463,163			-			122,513
Net income				1,009,026		877,222			100,001			31,803
Less net income attributable to noncontrolling interests				(144,174)		(8,626)			-			(135,548)
Net income (loss) attributable to Vornado				864,852		868,596			100,001			(103,745)
Interest and debt expense⁽²⁾				654,398		241,959			89,448			322,991
Depreciation and amortization⁽²⁾				685,973		324,239			145,853			215,881
Income tax expense⁽²⁾				24,248		4,395			288			19,565
EBITDA⁽¹⁾			$	2,229,471	$	1,439,189	⁽³⁾	$	335,590	⁽⁴⁾	$	454,692	⁽⁵⁾

Balance Sheet Data:
Real estate, at cost			$	16,822,358	$	9,732,818		$	4,383,418		$	2,706,122
Investments in partially owned entities				1,240,489		1,036,130			102,635			101,724
Total assets				21,157,980		10,706,476			4,300,628			6,150,876

(Amounts in thousands)		For the Year Ended December 31, 2013
			Total		New York			Washington, DC			Other
Total revenues			$	2,299,176	$	1,470,907		$	541,161		$	287,108
Total expenses				1,624,625		910,498			347,686			366,441
Operating income (loss)				674,551		560,409			193,475			(79,333)
(Loss) income from partially owned entities				(340,882)		15,527			(6,968)			(349,441)
Income from real estate fund investments				102,898		-			-			102,898
Interest and other investment (loss) income, net				(24,887)		5,357			129			(30,373)
Interest and debt expense				(425,782)		(181,966)			(102,277)			(141,539)
Net gain on disposition of wholly owned and partially
	owned assets			2,030		-			-			2,030
(Loss) income before income taxes				(12,072)		399,327			84,359			(495,758)
Income tax benefit (expense)				8,717		(2,794)			14,031			(2,520)
(Loss) income from continuing operations				(3,355)		396,533			98,390			(498,278)
Income from discontinued operations				568,095		160,314			-			407,781
Net income (loss)				564,740		556,847			98,390			(90,497)
Less net income attributable to noncontrolling interests				(88,769)		(10,786)			-			(77,983)
Net income (loss) attributable to Vornado				475,971		546,061			98,390			(168,480)
Interest and debt expense⁽²⁾				758,781		236,645			116,131			406,005
Depreciation and amortization⁽²⁾				732,757		293,974			142,409			296,374
Income tax expense (benefit)⁽²⁾				26,371		3,002			(15,707)			39,076
EBITDA⁽¹⁾			$	1,993,880	$	1,079,682	⁽³⁾	$	341,223	⁽⁴⁾	$	572,975	⁽⁵⁾

Balance Sheet Data:
Real estate, at cost			$	15,392,968	$	8,422,297		$	4,243,048		$	2,727,623
Investments in partially owned entities				1,159,803		904,278			100,543			154,982
Total assets				20,018,210		9,214,055			4,098,338			6,705,817


See notes on page 136 and 137.

Notes to preceding tabular information:

(1)	EBITDA represents "Earnings Before Interest, Taxes, Depreciation and Amortization." We consider EBITDA a non-GAAP financial 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 expense in the reconciliation of net income to EBITDA includes our share of these items from partially owned entities.

(3)	The elements of "New York" EBITDA are summarized below.

	(Amounts in thousands)		For the Year Ended December 31,
			2015		2014		2013
	Office		$	661,579	$	622,818	$	612,009
	Retail			358,379		281,428		246,808
	Residential			22,266		21,907		20,420
	Alexander's			42,858		41,746		42,210
	Hotel Pennsylvania			23,044		30,753		30,723
	Net gains on sale of real estate^(a)			142,693		440,537		127,512
		Total New York	$	1,250,819	$	1,439,189	$	1,079,682


	(a)	Net gains on sale of real estate are related to 20 Broad Street in 2015, 1740 Broadway in 2014, and 866 UN Plaza in 2013.

(4)	The elements of "Washington, DC" EBITDA are summarized below.

	(Amounts in thousands)		For the Year Ended December 31,
			2015		2014		2013
	Office, excluding the Skyline properties		$	264,864	$	266,859	$	268,373
	Skyline properties			24,224		27,150		29,499
	Net gain on sale of 1750 Pennsylvania Avenue			102,404		-		-
		Total Office		391,492		294,009		297,872
	Residential			38,978		41,581		43,351
		Total Washington, DC	$	430,470	$	335,590	$	341,223

Notes to preceding tabular information:

(5)	The elements of "Other" EBITDA are summarized below.

	(Amounts in thousands)		For the Year Ended December 31,
			2015		2014			2013
	Our share of real estate fund investments:
		Income before net realized/unrealized gains	$	8,611	$	8,056	$	7,752
		Net realized/unrealized gains on investments		14,657		37,535		23,489
		Carried interest		10,696		24,715		18,230
	Total			33,964		70,306		49,471
	theMart and trade shows			79,159		79,636		74,270
	555 California Street			49,975		48,844		42,667
	India real estate ventures			3,933		6,434		5,841
	Our share of Toys^(a)			2,500		103,632		(12,081)
	Other investments			38,141		16,896		45,856
				207,672		325,748		206,024
	Corporate general and administrative expenses^(b)(c)			(106,416)		(94,929)		(94,904)
	Investment income and other, net^(b)			26,385		31,665		46,525
	Gains on sale of partially owned entities and other			37,666		13,000		-
	UE and residual retail properties discontinued operations			28,314		245,679		541,516
	Our share of impairment loss on India real estate ventures			(14,806)		(5,771)		-
	Acquisition and transaction related costs			(12,511)		(16,392)		(24,857)
	Net gain on sale of marketable securities, land parcels and residential condominiums			6,724		13,568		56,868
	Impairment loss and loan loss reserve on investment in Suffolk Downs			(1,551)		(10,263)		-
	Losses from the disposition of investment in J.C. Penney			-		-		(127,888)
	Severance costs (primarily reduction in force at theMart)			-		-		(5,492)
	Net income attributable to noncontrolling interests in the Operating Partnership			(43,231)		(47,613)		(24,817)
			$	128,246	$	454,692	$	572,975


	(a)	As a result of our investment being reduced to zero, we suspended equity method accounting in the third quarter of 2014 (see Note 6 - Investments in Partially Owned Entities). The years ended December 31, 2014 and 2013 include an impairment loss of $75,196 and $240,757, respectively.
	(b)	The amounts in these captions (for this table only) exclude income/expense from the mark-to-market of our deferred compensation plan of $111, $11,557 and $10,636 for the years ended December 31, 2015, 2014 and 2013, respectively.
	(c)	The year ended December 31, 2015 includes $6,217 from the acceleration of the recognition of compensation expense related to 2013-2015 Out-Performance Plans due to the modification of the vesting criteria of awards such that they will fully vest at age 65. The accelerated expense will result in lower general and administrative expense for 2016 of $2,940 and $3,277 thereafter.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

Subsequent Events

12 Months Ended

Dec. 31, 2015

Subsequent Events [Abstract]

Subsequent Events

25. Subsequent Events

2016 Out-Performance Plan

On January 14, 2016, the Compensation Committee approved the 2016 Outperformance Plan, a multi-year, performance-based equity compensation plan and related form of award agreement (the “2016 OPP”). Awards under the 2016 OPP constitute awards under Vornado's shareholder approved 2010 Omnibus Share Plan. Under the 2016 OPP, participants, including our Chairman and Chief Executive Officer, have the opportunity to earn compensation payable in the form of operating partnership units if, and only if, we outperform a predetermined total shareholder return (“TSR”) and/or outperform the market with respect to relative total TSR during a three-year performance period. Specifically, awards under our 2016 OPP may potentially be earned if we (i) achieve a TSR above that of the SNL US REIT Index (the “Index”) over a three-year performance period (the “Relative Component”) and/or (ii) achieve a TSR level greater than 7% per annum, or 21% over the three-year performance period (the “Absolute Component”). To the extent awards would be earned under the Absolute Component but we underperform the Index, such awards earned under the Absolute Component would be reduced (and potentially fully negated) based on the degree to which we underperform the Index. In certain circumstances, in the event we outperform the Index but awards would not otherwise be earned under the Absolute Component, awards may still be earned under the Relative Component. Moreover, to the extent awards would otherwise be earned under the Relative Component but we fail to achieve at least a 3% per annum absolute TSR, such awards earned under the Relative Component would be reduced based on our absolute TSR performance, with no awards being earned in the event our TSR during the applicable measurement period is 0% or negative, irrespective of the degree to which it may outperform the Index. If the designated performance objectives are achieved, OPP Units are also subject to time-based vesting requirements. Dividend payments on awards issued accrue during the performance period and are paid to participants if, and only if, awards are ultimately earned based on the achievement of the designated performance objectives. In addition, all of our executive officers (for the purposes of Section 16 of the Exchange Act) are required to hold any earned OPP Units for one year following vesting.

770 Broadway Refinancing

On February 8, 2016, we completed a $700,000,000 refinancing of 770 Broadway, a 1,158,000 square foot Manhattan office building. The five-year loan is interest-only at LIBOR plus 1.75% (2.18% at February 11, 2016) which was swapped for four and a half years to a fixed rate of 2.56%. We realized net proceeds of approximately $330,000,000. The property was previously encumbered by a 5.65%, $353,000,000 mortgage maturing in March 2016.

SEC Schedule II Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2015

Valuation And Qualifying Accounts [Abstract]

Schedule II Valuation and Qualifying Accounts

VORNADO REALTY TRUST
SCHEDULE II
VALUATION AND QUALIFYING ACCOUNTS
December 31, 2015
(Amounts in Thousands)


	Column A			Column B		Column C		Column D		Column E
						Additions
				Balance at		Charged		Uncollectible		Balance
				Beginning		Against		Accounts		at End
		Description		of Year		Operations		Written-off		of Year

		Year Ended December 31, 2015:
			Allowance for doubtful accounts	$	21,209	$	(99)	$	(6,451)	$	14,659
		Year Ended December 31, 2014:
			Allowance for doubtful accounts	$	24,719	$	3,076	$	(6,586)	$	21,209
		Year Ended December 31, 2013:
			Allowance for doubtful accounts	$	28,675	$	9,326	$	(13,282)	$	24,719

SEC Schedule III Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2015

Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III Real Estate and Accumulated Depreciation

VORNADO REALTY TRUST
SCHEDULE III
REAL ESTATE AND ACCUMULATED DEPRECIATION
(Amounts in thousands)
COLUMN A				COLUMN B			COLUMN C				COLUMN D		COLUMN E						COLUMN F	COLUMN G	COLUMN H		COLUMN I
													Gross amount at which										Life on which
						Initial cost to company (1)							carried at close of period										depreciation
											Costs							Accumulated					in latest
								Building			capitalized			Buildings				depreciation					income
								and			subsequent			and				and		Date of		Date	statement
				Encumbrances (2)		Land		improvements			to acquisition		Land	improvements		Total (3)		amortization		construction (4)		acquired	is computed
	New York
		New York
			Manhattan
			1290 Avenue of the Americas	$	950,000	$	515,539	$	923,653	$	156,868	$	515,540	$	1,080,520	$	1,596,060	$	233,742	1963		2007	(5)
			697-703 Fifth Avenue (St. Regis - retail)		450,000		152,825		584,230		-		152,825		584,230		737,055		17,197			2014	(5)
			350 Park Avenue		289,242		265,889		363,381		45,811		265,889		409,192		675,081		94,115	1960		2006	(5)
			666 Fifth Avenue (Retail Condo)		390,000		189,005		471,072		-		189,005		471,072		660,077		37,030			2012	(5)
			One Penn Plaza		-		-		412,169		200,348		-		612,517		612,517		261,693	1972		1998	(5)
			100 West 33rd Street		398,402		242,776		247,970		31,934		242,776		279,904		522,680		61,476	1911		2007	(5)
			150 West 34th Street		205,000		119,657		268,509		1		119,658		268,509		388,167		3,916	1900		2015	(5)
			1535 Broadway (Marriott Marquis)		-		-		249,285		137,101		-		386,386		386,386		4,796			2012	(5)
			1540 Broadway		-		110,000		223,122		26,714		110,001		249,835		359,836		43,592			2006	(5)
			655 Fifth Avenue		140,000		102,594		231,903		-		102,594		231,903		334,497		13,149			2013	(5)
			Two Penn Plaza		575,000		53,615		164,903		98,098		52,689		263,927		316,616		133,450	1968		1997	(5)
			90 Park Avenue		-		8,000		175,890		96,269		8,000		272,159		280,159		98,331	1964		1997	(5)
			Manhattan Mall		181,598		88,595		113,473		71,400		88,595		184,873		273,468		48,993	2009		2007	(5)
			770 Broadway		353,000		52,898		95,686		97,290		52,898		192,976		245,874		75,613	1907		1998	(5)
			888 Seventh Avenue		375,000		-		117,269		115,848		-		233,117		233,117		97,680	1980		1998	(5)
			909 Third Avenue		350,000		-		120,723		80,715		-		201,438		201,438		76,663	1969		1999	(5)
			Eleven Penn Plaza		450,000		40,333		85,259		72,995		40,333		158,254		198,587		60,765	1923		1997	(5)
			7 West 34th Street		-		-		-		182,067		34,614		147,453		182,067		62,011	1901		2000	(5)
			640 Fifth Avenue		-		38,224		25,992		102,472		38,224		128,464		166,688		41,282	1950		1997	(5)
			150 East 58th Street		-		39,303		80,216		40,870		39,303		121,086		160,389		50,879	1969		1998	(5)
			595 Madison Avenue		-		62,731		62,888		26,218		62,731		89,106		151,837		33,566	1968		1999	(5)
			828-850 Madison Avenue		80,000		107,937		28,261		10		107,937		28,271		136,208		7,538			2005	(5)
			33-00 Northern Boulevard		61,759		46,505		86,226		-		46,505		86,226		132,731		2,189	1915		2015	(5)
			330 West 34th Street		-		-		8,599		111,810		-		120,409		120,409		6,530	1925		1998	(5)
			715 Lexington Avenue		-		-		26,903		63,002		63,000		26,905		89,905		7,243	1923		2001	(5)
			478-486 Broadway		-		30,000		20,063		33,827		30,000		53,890		83,890		9,610	2009		2007	(5)
			4 Union Square South		117,904		24,079		55,220		2,610		24,080		57,829		81,909		16,392	1965/2004		1993	(5)
			260 Eleventh Avenue		-		-		80,482		10		-		80,492		80,492		943	1911		2015	(5)
			510 Fifth Avenue		-		34,602		18,728		19,227		34,602		37,955		72,557		5,820			2010	(5)
			40 Fulton Street		-		15,732		26,388		15,153		15,732		41,541		57,273		16,888	1987		1998	(5)
			689 Fifth Avenue		-		19,721		13,446		22,809		19,721		36,255		55,976		9,492	1925		1998	(5)
			443 Broadway		-		11,187		41,186		-		11,187		41,186		52,373		2,693			2013	(5)
			40 East 66th Street		-		13,616		34,635		142		13,616		34,777		48,393		8,739			2005	(5)
			155 Spring Street		-		13,700		30,544		2,582		13,700		33,126		46,826		7,527			2007	(5)

VORNADO REALTY TRUST
SCHEDULE III
REAL ESTATE AND ACCUMULATED DEPRECIATION
(Amounts in thousands)
COLUMN A						COLUMN B		COLUMN C				COLUMN D		COLUMN E						COLUMN F	COLUMN G	COLUMN H	COLUMN I
														Gross amount at which									Life on which
							Initial cost to company (1)							carried at close of period									depreciation
												Costs							Accumulated				in latest
									Building			capitalized			Buildings				depreciation				income
									and			subsequent			and				and		Date of	Date	statement
Description					Encumbrances (2)		Land		improvements			to acquisition		Land	improvements		Total (3)		amortization		construction (4)	acquired	is computed
			435 Seventh Avenue		$	98,000	$	19,893	$	19,091	$	37	$	19,893	$	19,128	$	39,021	$	6,449	2002	1997	(5)
			3040 M Street			-		7,830		27,490		3,256		7,830		30,746		38,576		7,960		2006	(5)
			608 Fifth Avenue			-		-		-		33,906		-		33,906		33,906		3,601	1932	2012	(5)
			692 Broadway			-		6,053		22,908		3,540		6,053		26,448		32,501		6,895		2005	(5)
			265 West 34th Street			-		28,500		-		-		28,500		-		28,500		-	1920	2015	(5)
			677-679 Madison Avenue			-		13,070		9,640		388		13,070		10,028		23,098		2,401		2006	(5)
			1131 Third Avenue			-		7,844		7,844		5,198		7,844		13,042		20,886		719		1997	(5)
			431 Seventh Avenue			-		16,700		2,751		-		16,700		2,751		19,451		602		2007	(5)
			138-142 West 32nd Street			-		9,252		9,936		-		9,252		9,936		19,188		228	1920	2015	(5)
			304 Canal Street			-		3,511		12,905		1,109		-		17,525		17,525		-	1910	2014	(5)
			334 Canal Street			-		1,693		6,507		7,264		1,693		13,771		15,464		221		2011	(5)
			267 West 34th Street			-		5,099		10,037		-		5,099		10,037		15,136		548		2013	(5)
			966 Third Avenue			-		8,869		3,631		-		8,869		3,631		12,500		212		2013	(5)
			148 Spring Street			-		3,200		8,112		406		3,200		8,518		11,718		1,621		2008	(5)
			150 Spring Street			-		3,200		5,822		258		3,200		6,080		9,280		1,175		2008	(5)
			137 West 33rd Street			-		6,398		1,550		-		6,398		1,550		7,948		29	1932	2015	(5)
			488 Eighth Avenue			-		10,650		1,767		(4,674)		6,859		884		7,743		178		2007	(5)
			484 Eighth Avenue			-		3,856		762		399		3,856		1,161		5,017		365		1997	(5)
			825 Seventh Avenue			-		1,483		697		33		1,483		730		2,213		341		1997	(5)
			Other (Including signage)			-		70,683		20,378		98,431		70,683		118,809		189,492		21,395
				Total New York		5,464,905		2,626,847		5,660,102		2,003,752		2,716,237		7,574,464		10,290,701		1,706,483

		New Jersey
			Paramus			-		-		-		25,339		1,033		24,306		25,339		12,194	1967	1987	(5)

		Other Properties
			Hotel Pennsylvania			-		29,903		121,712		86,609		29,903		208,321		238,224		95,882	1919	1997	(5)

	Total New York					5,464,905		2,656,750		5,781,814		2,115,700		2,747,173		7,807,091		10,554,264		1,814,559

VORNADO REALTY TRUST
SCHEDULE III
REAL ESTATE AND ACCUMULATED DEPRECIATION
(Amounts in thousands)
COLUMN A						COLUMN B		COLUMN C				COLUMN D		COLUMN E						COLUMN F	COLUMN G	COLUMN H	COLUMN I
														Gross amount at which									Life on which
							Initial cost to company (1)							carried at close of period									depreciation
												Costs							Accumulated				in latest
									Building			capitalized			Buildings				depreciation				income
									and			subsequent			and				and		Date of	Date	statement
Description					Encumbrances (2)		Land		improvements			to acquisition		Land	improvements		Total (3)		amortization		construction (4)	acquired	is computed
	Washington, DC
		Washington, DC
			2011-2451 Crystal Drive - 5 buildings		$	220,248	$	100,935	$	409,920	$	149,218	$	100,228	$	559,845	$	660,073	$	213,614	1984-1989	2002	(5)
			Skyline Properties - 8 buildings			696,319		64,544		355,563		88,132		64,355		443,884		508,239		152,263	1973-2001	2002	(5)

			2001 Jefferson Davis Highway,			69,869		57,213		131,206		404,016		57,070		346,946		404,016		81,180	1964-1969	2002	(5)
				2100/2200 Crystal Drive, 223 23rd
				Street, 2221 South Clark Street, Crystal
				City Shops at 2100, 220 20th Street
			S. Clark Street/12th Street - 5 buildings			55,722		63,420		231,267		78,426		63,291		309,822		373,113		101,024	1981, 1983-1987	2002	(5)
			1550-1750 Crystal Drive/			38,707		64,817		218,330		79,201		64,652		297,696		362,348		101,272	1974-1980	2002	(5)
				241-251 18th Street - 4 buildings
			RiverHouse Apartments			307,710		118,421		125,078		73,611		138,854		178,256		317,110		40,965		2007	(5)
			Met Park / Warehouses			-		106,946		1,326		186,466		124,585		170,153		294,738		67		2007	(5)
			1825 - 1875 Connecticut Ave NW -			185,000		69,393		143,320		116,996		68,612		156,656		225,268		38,670	1956, 1963	2007
				(Universal Buildings) - 2 buildings																			(5)
			West End 25			101,671		67,049		5,039		106,814		68,198		110,704		178,902		17,389		2007	(5)
			2101 L Street, NW			146,222		32,815		51,642		84,372		39,768		129,061		168,829		35,595	1975	2003	(5)
			2200 / 2300 Clarendon Blvd			23,250		-		105,475		49,165		-		154,640		154,640		56,063	1988-1989	2002	(5)
				(Courthouse Plaza) - 2 buildings
			1800, 1851 and 1901 South Bell Street			-		37,551		118,806		(4,269)		37,551		114,537		152,088		35,454	1968	2002	(5)
				- 3 buildings
			875 15th Street, NW (Bowen Building)			115,022		30,077		98,962		2,835		30,176		101,698		131,874		26,980	2004	2005	(5)
			1399 New York Avenue, NW			-		33,481		67,363		7,047		34,178		73,713		107,891		10,138		2011	(5)
			Commerce Executive - 3 buildings			-		13,401		58,705		25,080		13,140		84,046		97,186		29,088	1985-1989	2002	(5)
			H Street - North 10-1D Land Parcel			-		104,473		55		(33,069)		61,970		9,489		71,459		-		2007	(5)
			Crystal City Hotel			-		8,000		47,191		10,888		8,000		58,079		66,079		16,263	1968	2004	(5)
			1150 17th Street, NW			28,728		23,359		24,876		14,388		24,723		37,900		62,623		31,700	1970	2002	(5)
			Democracy Plaza One			-		-		33,628		6,103		-		39,731		39,731		18,189	1987	2002	(5)
			1730 M Street, NW			14,853		10,095		17,541		11,863		10,687		28,812		39,499		11,086	1963	2002	(5)
			1726 M Street, NW			-		9,450		22,062		3,433		9,455		25,490		34,945		21,502	1964	2006	(5)
			Crystal Drive Retail			-		-		20,465		7,294		-		27,759		27,759		11,493	2004	2004	(5)
			1109 South Capitol Street			-		11,541		178		(253)		11,597		(131)		11,466		-		2007	(5)
			South Capitol			-		4,009		6,273		(1,920)		-		8,362		8,362		-		2005	(5)
			Other			-		1,763		52,408		(27,100)		1,763		25,308		27,071		705
	Total Washington, DC					2,003,321		1,032,753		2,346,679		1,438,737		1,032,853		3,492,456		4,525,309		1,050,700

VORNADO REALTY TRUST
SCHEDULE III
REAL ESTATE AND ACCUMULATED DEPRECIATION
(Amounts in thousands)
COLUMN A						COLUMN B		COLUMN C				COLUMN D		COLUMN E						COLUMN F	COLUMN G	COLUMN H	COLUMN I
														Gross amount at which									Life on which
							Initial cost to company (1)							carried at close of period									depreciation
												Costs							Accumulated				in latest
									Building			capitalized			Buildings				depreciation				income
									and			subsequent			and				and		Date of	Date	statement
Description					Encumbrances (2)		Land		improvements			to acquisition		Land	improvements		Total (3)		amortization		construction (4)	acquired	is computed
	Other
		theMart
		Illinois
			theMart, Chicago		$	550,000	$	64,528	$	319,146	$	307,313	$	64,535	$	626,452	$	690,987	$	232,480	1930	1998	(5)
			527 West Kinzie, Chicago			-		5,166		-		25		5,166		25		5,191		-
				Total Illinois		550,000		69,694		319,146		307,338		69,701		626,477		696,178		232,480

		New York
			MMPI Piers			-		-		-		13,840		-		13,840		13,840		1,426		2008	(5)

	Total theMart					550,000		69,694		319,146		321,178		69,701		640,317		710,018		233,906

			555 California Street			589,063		221,903		893,324		91,882		221,903		985,206		1,207,109		217,490	1922/1969/1970	2007	(5)
			220 Central Park South			950,000		115,720		16,420		654,912		-		787,052		787,052		-		2005	(5)
			Borgata Land, Atlantic City, NJ			57,549		83,089		-		-		83,089		-		83,089		-		2010	(5)
			Wayne Towne Center			-		-		26,137		42,628		-		68,765		68,765		8,254		2010	(5)
			40 East 66th Residential			-		29,199		85,798		(93,222)		8,454		13,321		21,775		3,142		2005	(5)
			Annapolis			-		-		9,652		-		-		9,652		9,652		3,207		2005	(5)
			677-679 Madison			-		1,462		1,058		284		1,626		1,178		2,804		361		2006	(5)
			Other			-		-		-		4,270		-		4,270		4,270		785		2005	(5)
	Total Other					2,146,612		521,067		1,351,535		1,021,932		384,773		2,509,761		2,894,534		467,145

	Leasehold Improvements
		Equipment and Other				-		-		-		116,030		-		116,030		116,030		85,863
		Total December 31, 2015			$	9,614,838	$	4,210,570	$	9,480,028	$	4,692,399	$	4,164,799	$	13,925,338	$	18,090,137	$	3,418,267


(1)		Initial cost is cost as of January 30, 1982 (the date on which we commenced real estate operations) unless acquired subsequent to that date see Column H.
(2)		Represents the contractual debt obligations.
(3)		The net basis of our assets and liabilities for tax reporting purposes is approximately $3.4 billion lower than the amount reported for financial statement purposes.
(4)		Date of original construction –– many properties have had substantial renovation or additional construction –– see Column D.
(5)		Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to forty years.

VORNADO REALTY TRUST
SCHEDULE III
REAL ESTATE AND ACCUMULATED DEPRECIATION

Notes:

(1)		Initial cost is cost as of January 30, 1982 (the date on which Vornado commenced real estate operations) unless acquired subsequent to that date see Column H.
(2)		Excludes deferred financing costs, net and other of $101,125,000.
(3)		The net basis of the Company’s assets and liabilities for tax reporting purposes is approximately $3.4 billion lower than the amount reported for financial statement purposes.
(4)		Date of original construction –– many properties have had substantial renovation or additional construction –– see Column D.
(5)		Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to forty years.

VORNADO REALTY TRUST
SCHEDULE III
REAL ESTATE AND ACCUMULATED DEPRECIATION
(AMOUNTS IN THOUSANDS)

	The following is a reconciliation of real estate assets and accumulated depreciation:

				Year Ended December 31,
				2015		2014		2013
	Real Estate
		Balance at beginning of period		$	16,822,358	$	15,392,968	$	15,287,078
		Additions during the period:
			Land		281,048		225,536		131,646
			Buildings & improvements		1,288,136		1,348,153		1,014,876
					18,391,542		16,966,657		16,433,600
		Less: Assets sold, written-off and deconsolidated			301,405		144,299		1,040,632
		Balance at end of period		$	18,090,137	$	16,822,358	$	15,392,968

	Accumulated Depreciation
		Balance at beginning of period		$	3,161,633	$	2,829,862	$	2,524,718
		Additions charged to operating expenses			459,612		461,689		423,844
					3,621,245		3,291,551		2,948,562
		Less: Accumulated depreciation on assets sold and written-off			202,978		129,918		118,700
		Balance at end of period		$	3,418,267	$	3,161,633	$	2,829,862

Basis of Presentation and Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2015
Basis of Presentation and Significant Accounting Policies [Abstract]
Basis of Presentation [Policy Text Block]	Basis of Presentation The accompanying consolidated financial statements include the accounts of Vornado and its consolidated subsidiaries, including the Operating Partnership. All inter-company amounts have been eliminated. Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America, which require us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Certain prior year balances have been reclassified in order to conform to the current period presentation. Beginning in the year ended December 31, 2015, we classified signage revenue within “property rentals”. For the years ended December 31, 2014 and 2013, $37,929,000 and $32,866,000, respectively, related to signage revenue has been reclassified from “fee and other income” to “property rentals” to conform to the current period presentation.
Recently Issued Accounting Literature [Policy Text Block]	Recently Issued Accounting Literature In April 2014, the Financial Accounting Standards Board (“FASB”) issued an update (“ASU 2014-08”) Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity to ASC Topic 205, Presentation of Financial Statements and ASC Topic 360, Property Plant and Equipment. Under ASU 2014-08, only disposals that represent a strategic shift that has (or will have) a major effect on the entity's results and operations would qualify as discontinued operations. In addition, ASU 2014-08 expands the disclosure requirements for disposals that meet the definition of a discontinued operation and requires entities to disclose information about disposals of individually significant components that do not meet the definition of discontinued operations. ASU 2014-08 is effective for interim and annual reporting periods in fiscal years that began after December 15, 2014. Upon adoption of this standard on January 1, 2015, individual properties sold in the ordinary course of business are not expected to qualify as discontinued operations. Under ASU 2014-08, operating results of disposals are included in income from continuing operations, and any associated gains are now included in “net gain on disposition of wholly owned and partially owned assets” on our consolidated statements of income. Gain on sales of properties classified as discontinued operations prior to January 1, 2015 are classified in “income from discontinued operations” on our consolidated statements of income. The financial results of UE and certain other retail assets are reflected in our consolidated financial statements as discontinued operations for all periods presented (see Note 7 – Dispositions for further details). In May 2014, the FASB issued an update ("ASU 2014-09") establishing ASC Topic 606, Revenue from Contracts with Customers. ASU 2014-09 establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. ASU 2014-09 requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. ASU 2014-09 is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2017. We are currently evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements. In June 2014, the FASB issued an update (“ASU 2014-12”) to ASC Topic 718, Compensation – Stock Compensation. ASU 2014-12 requires an entity to treat performance targets that can be met after the requisite service period of a share based award has ended, as a performance condition that affects vesting. ASU 2014-12 is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2015. We are currently evaluating the impact of the adoption of ASU 2014-12 on our consolidated financial statements. In February 2015, the FASB issued an update (“ASU 2015-02”) Amendments to the Consolidation Analysis to ASC Topic 810, Consolidation. ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments: (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting interest entities, (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidation analysis of reporting entities that are involved with VIEs, and (iv) provide a scope exception for certain entities. ASU 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. We are currently evaluating the impact of the adoption of ASU 2015-02 on our consolidated financial statements. In April 2015, the FASB issued an update (“ASU 2015-03”) Simplifying the Presentation of Debt Issuance Costs to ASC Topic 835, Interest (“ASC 835”). ASU 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability to which they relate, consistent with debt discounts, as opposed to being presented as assets. ASU 2015-03 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. We elected to early adopt ASU 2015-03 effective as of December 31, 2015 with retrospective application to our December 31, 2014 consolidating balance sheet. The effect of the adoption of ASU 2015-03 was to reclassify debt issuance costs of approximately $79,987,000 as of December 31, 2014 from “deferred leasing and financing costs, net” to a contra account as a deduction from the related debt liabilities. There was no effect on our consolidated statements of income. In August 2015, the FASB issued an update (“ASU 2015-15”) Interest – Imputation of Interest to ASC 835. For debt issuance costs related to line-of-credit arrangements, ASU 2015-15 allows entities to present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We elected to early adopt ASU 2015-15 effective as of December 31, 2015 with retrospective application to our December 31, 2014 balance sheet. These debt issuance costs were $7,720,000 and $11,549,000 as of December 31, 2015 and 2014, respectively, and are included as a component of “other assets”. In January 2016, the FASB issued an update (“ASU 2016-01”) Recognition and Measurement of Financial Assets and Financial Liabilities to ASC Topic 825, Financial Instruments (“ASC 825”). ASU 2016-01 amends certain aspects of recognition, measurement, presentation and disclosure of financial instruments, including the requirement to measure certain equity investments at fair value with changes in fair value recognized in net income. ASU 2016-01 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. We are currently evaluating the impact of the adoption of ASU 2016-01 on our consolidated financial statements.
Real Estate [Policy Text Block]	Real Estate: Real estate is carried at cost, net of accumulated depreciation and amortization. Betterments, major renewals and certain costs directly related to the improvement and leasing of real estate are capitalized. Maintenance and repairs are expensed as incurred. For redevelopment of existing operating properties, the net book value of the existing property under redevelopment plus the cost for the construction and improvements incurred in connection with the redevelopment are capitalized to the extent the capitalized costs of the property do not exceed the estimated fair value of the redeveloped property when complete. If the cost of the redeveloped property, including the net book value of the existing property, exceeds the estimated fair value of redeveloped property, the excess is charged to expense. Depreciation is recognized on a straight-line basis over estimated useful lives which range from 7 to 40 years. Tenant allowances are amortized on a straight-line basis over the lives of the related leases, which approximate the useful lives of the assets. Additions to real estate include interest and debt expense capitalized during construction of $59,305,000 and $62,786,000 for the years ended December 31, 2015 and 2014, respectively. Upon the acquisition of real estate, we assess the fair value of acquired assets (including land, buildings and improvements, identified intangibles, such as acquired above and below-market leases, acquired in-place leases and tenant relationships) and acquired liabilities and we allocate the purchase price based on these assessments. We assess fair value based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known trends, and market/economic conditions. We record acquired intangible assets (including acquired above-market leases, acquired in-place leases and tenant relationships) and acquired intangible liabilities (including below–market leases) at their estimated fair value separate and apart from goodwill. We amortize identified intangibles that have finite lives over the period they are expected to contribute directly or indirectly to the future cash flows of the property or business acquired. Our properties, including any related intangible assets, are individually reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment exists when the carrying amount of an asset exceeds the aggregate projected future cash flows over the anticipated holding period on an undiscounted basis. An impairment loss is measured based on the excess of the property's carrying amount over its estimated fair value. Impairment analyses are based on our current plans, intended holding periods and available market information at the time the analyses are prepared. If our estimates of the projected future cash flows, anticipated holding periods, or market conditions change, our evaluation of impairment losses may be different and such differences could be material to our consolidated financial statements. The evaluation of anticipated cash flows is subjective and is based, in part, on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results. Plans to hold properties over longer periods decrease the likelihood of recording impairment losses.
Partially Owned Entities [Policy Text Block]	Partially Owned Entities: We consolidate entities in which we have a controlling financial interest. In determining whether we have a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, we consider factors such as ownership interest, board representation, management representation, authority to make decisions, and contractual and substantive participating rights of the partners/members as well as whether the entity is a variable interest entity (“VIE”) and we are the primary beneficiary. We are deemed to be the primary beneficiary of a VIE when we have (i) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (ii) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. We generally do not control a partially owned entity if the entity is not considered a VIE and the approval of all of the partners/members is contractually required with respect to major decisions, such as operating and capital budgets, the sale, exchange or other disposition of real property, the hiring of a chief executive officer, the commencement, compromise or settlement of any lawsuit, legal proceeding or arbitration or the placement of new or additional financing secured by assets of the venture. We account for investments under the equity method when the requirements for consolidation are not met, and we have significant influence over the operations of the investee. Equity method investments are initially recorded at cost and subsequently adjusted for our share of net income or loss and cash contributions and distributions each period. Investments that do not qualify for consolidation or equity method accounting are accounted for on the cost method. Investments in partially owned entities are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is measured based on the excess of the carrying amount of an investment over its estimated fair value. Impairment analyses are based on current plans, intended holding periods and available information at the time the analyses are prepared.
Cash And Cash Equivalents [Policy Text Block]	Cash and Cash Equivalents: Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less and are carried at cost, which approximates fair value due to their short-term maturities. The majority of our cash and cash equivalents consists of (i) deposits at major commercial banks, which may at times exceed the Federal Deposit Insurance Corporation limit, (ii) United States Treasury Bills, and (iii) Certificate of Deposits placed through an Account Registry Service (“CDARS”). To date, we have not experienced any losses on our invested cash.
Restricted Cash [Policy Text Block]	Restricted Cash: Restricted cash consists of security deposits, cash restricted for the purposes of facilitating a Section 1031 Like-Kind exchange, cash restricted in connection with our deferred compensation plan and cash escrowed under loan agreements for debt service, real estate taxes, property insurance and capital improvements.
Allowance For Doubtful Accounts [Policy Text Block]	Allowance for Doubtful Accounts: We periodically evaluate the collectibility of amounts due from tenants and maintain an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under the lease agreements. We also maintain an allowance for receivables arising from the straight-lining of rents. This receivable arises from earnings recognized in excess of amounts currently due under the lease agreements. Management exercises judgment in establishing these allowances and considers payment history and current credit status in developing these estimates.
Deferred Charges [Policy Text Block]	Deferred Charges: Direct financing costs are deferred and amortized over the terms of the related agreements as a component of interest expense. Direct costs related to successful leasing activities are capitalized and amortized on a straight line basis over the lives of the related leases. All other deferred charges are amortized on a straight line basis, which approximates the effective interest rate method, in accordance with the terms of the agreements to which they relate.
Revenue Recognition [Policy Text Block]	Revenue Recognition: We have the following revenue sources and revenue recognition policies: • Base Rent — income arising from tenant leases. These rents are recognized over the non-cancelable term of the related leases on a straight-line basis which includes the effects of rent steps and rent abatements under the leases. We commence rental revenue recognition when the tenant takes possession of the leased space and the leased space is substantially ready for its intended use. In addition, in circumstances where we provide a tenant improvement allowance for improvements that are owned by the tenant, we recognize the allowance as a reduction of rental revenue on a straight-line basis over the term of the lease. • Percentage Rent — income arising from retail tenant leases that is contingent upon tenant sales exceeding defined thresholds. These rents are recognized only after the contingency has been removed (i.e., when tenant sales thresholds have been achieved). • Hotel Revenue — income arising from the operation of the Hotel Pennsylvania which consists of rooms revenue, food and beverage revenue, and banquet revenue. Income is recognized when rooms are occupied. Food and beverage and banquet revenue is recognized when the services have been rendered. • Trade Shows Revenue — income arising from the operation of trade shows, including rentals of booths. This revenue is recognized when the trade shows have occurred. • Expense Reimbursements — revenue arising from tenant leases which provide for the recovery of all or a portion of the operating expenses and real estate taxes of the respective property. This revenue is accrued in the same periods as the expenses are incurred. • Management, Leasing and Other Fees — income arising from contractual agreements with third parties or with partially owned entities. This revenue is recognized as the related services are performed under the respective agreements.
Derivative Instruments and Hedging Activities [Policy Text Block]	Derivative Instruments and Hedging Activities: ASC 815, Derivatives and Hedging, as amended, establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. As of December 31, 2015 and 2014, our derivative instruments consisted of two and one interest rate swaps, respectively. We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative and the resulting designation. Derivatives used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives used to hedge the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (loss) (outside of earnings) and subsequently reclassified to earnings when the hedged transaction affects earnings, and the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. We assess the effectiveness of each hedging relationship by comparing the changes in fair value or cash flows of the derivative hedging instrument with the changes in fair value or cash flows of the designated hedged item or transaction. For derivatives not designated as hedges, changes in fair value are recognized in earnings.
Income Taxes [Policy Text Block]	Income Taxes: We operate in a manner intended to enable us to continue to qualify as a REIT under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders. We distribute to our shareholders 100% of our taxable income and therefore, no provision for Federal income taxes is required. Dividends distributed for the year ended December 31, 2015, were characterized, for federal income tax purposes, as long-term capital gain income. Dividends distributed for the years ended December 31, 2014 and 2013, were characterized, for federal income tax purposes, as ordinary income. We have elected to treat certain consolidated subsidiaries, and may in the future elect to treat newly formed subsidiaries, as taxable REIT subsidiaries pursuant to an amendment to the Internal Revenue Code that became effective January 1, 2001. Taxable REIT subsidiaries may participate in non-real estate related activities and/or perform non-customary services for tenants and are subject to Federal and State income tax at regular corporate tax rates.
Marketable Securities [Policy Text Block]	Our portfolio of marketable securities is comprised of equity securities that are classified as available-for-sale. Available-for-sale securities are presented on our consolidated balance sheets at fair value. Unrealized gains and losses resulting from the mark-to-market of these securities are included in “other comprehensive income (loss).” Realized 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. We evaluate our portfolio of marketable securities for impairment each reporting period. For each of the securities in our portfolio with unrealized losses, we review the underlying cause of the decline in value and the estimated recovery period, as well as the severity and duration of the decline. In our evaluation, we consider our ability and intent to hold these investments for a reasonable period of time sufficient for us to recover our cost basis. We also evaluate the near-term prospects for each of these investments in relation to the severity and duration of the decline.
Redeemable Noncontrolling Interests [Policy Text Block]	Redeemable noncontrolling interests on our consolidated balance sheets are primarily comprised of Class A Operating Partnership units held by third parties and 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. Class A units may be tendered for redemption to the Operating Partnership for cash; we, at our option, may assume that obligation and pay the holder either cash or Vornado common shares on a one-for-one basis. Because the number of Vornado common shares outstanding at all times equals the number of Class A units owned by Vornado, the redemption value of each Class A unit is equivalent to the market value of one Vornado common share, and the quarterly distribution to a Class A unitholder is equal to the quarterly dividend paid to a Vornado common shareholder. 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.

Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Basis of Presentation and Significant Accounting Policies [Abstract]

Reconciliation Of Net Income Attributable To Common Shareholders To Estimated Taxable Income [Table Text Block]

(Amounts in thousands)			For the Year Ended December 31,
			2015		2014		2013
Net income attributable to common shareholders		$	679,856	$	783,388	$	392,034
Book to tax differences (unaudited):
	Tangible Property Regulations⁽¹⁾		(575,618)		-		-
	Sale of real estate and other capital transactions		320,326		(477,061)		(324,936)
	Depreciation and amortization		227,297		219,403		155,401
	Straight-line rent adjustments		(144,727)		(77,526)		(64,811)
	Stock options		(8,278)		(9,566)		4,884
	Earnings of partially owned entities		(5,299)		71,960		339,376
	Impairment losses on marketable equity securities		-		-		37,236
	Other, net		(5,833)		1,260		36,186
Estimated taxable income (unaudited)		$	487,724	$	511,858	$	575,370


(1)	Represents one-time deductions pursuant to the implementation of the Tangible Property Regulations issued by the Internal Revenue Service.

Real Estate Fund Investments (Tables)

12 Months Ended

Dec. 31, 2015

Real Estate Fund Investments [Abstract]

Schedule Of Income And Loss From The Fund [Table Text Block]

(Amounts in thousands)		For the Year Ended December 31,
		2015		2014		2013
Net investment income		$	16,329	$	12,895	$	8,943
Net realized gains on exited investments			2,757		76,337		8,184
Net unrealized gains on held investments			54,995		73,802		85,771
Income from real estate fund investments			74,081		163,034		102,898
Less income attributable to noncontrolling interests			(40,117)		(92,728)		(53,427)
Income from real estate fund investments attributable to Vornado⁽¹⁾		$	33,964	$	70,306	$	49,471


(1)	Excludes $2,939, $2,562, and $2,721 of management and leasing fees in the years ended December 31, 2015, 2014 and 2013, respectively, which are included as a component of "fee and other income" on our consolidated statements of income.

Marketable Securities and Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Marketable Securities and Derivative Instruments [Abstract]

Unrealized Gain (Loss) on Investments [Table Text Block]

	Below is a summary of our marketable securities portfolio as of December 31, 2015 and 2014.

		As of December 31, 2015						As of December 31, 2014
				GAAP		Unrealized				GAAP		Unrealized
		Fair Value		Cost		Gain		Fair Value		Cost		Gain
Equity securities:
	Lexington Realty Trust	$	147,752	$	72,549	$	75,203	$	202,789	$	72,549	$	130,240
	Other		3,245		-		3,245		3,534		-		3,534
		$	150,997	$	72,549	$	78,448	$	206,323	$	72,549	$	133,774

Investments in Partially Owned Entities (Tables)

12 Months Ended

Dec. 31, 2015

Schedule Of Equity Method Investments [Line Items]

Equity Method Investment Summarized Financial Information [Table Text Block]

(Amounts in thousands)				Balance as of December 31,
				2015		2014
Balance Sheet:
	Assets			$	25,526,000	$	21,389,000
	Liabilities				21,162,000		17,986,000
	Noncontrolling interests				146,000		104,000
	Equity				4,218,000		3,299,000

		For the Year Ended December 31,
		2015		2014		2013
Income Statement:
	Total revenue	$	13,423,000	$	13,620,000	$	14,092,000
	Net loss		(224,000)		(434,000)		(368,000)

Equity Method Investments [Table Text Block]

(Amounts in thousands)		Percentage
		Ownership at	As of December 31,
		December 31, 2015	2015		2014
Investments:
	Partially owned office buildings⁽¹⁾	Various	$	909,782	$	760,749
	Alexander’s	32.4%		133,568		131,616
	PREIT	8.1%		133,375		-
	India real estate ventures	4.1%-36.5%		48,310		76,752
	UE	5.4%		25,351		-
	Toys⁽²⁾	32.5%		-		-
	Other investments⁽³⁾	Various		300,036		271,372
			$	1,550,422	$	1,240,489


(1)	Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue, 512 West 22nd Street and others.
(2)	Pursuant to Rule 4-08(g) of Regulation S-X, in 2014 Toys was considered a significant subsidiary where as in 2015 it was not. As of November 1, 2014, Toys had total assets of $11,267,000, total liabilities of $10,377,000, noncontrolling interests of $82,000 and equity of $808,000.
(3)	Includes interests in Independence Plaza, 85 Tenth Avenue, Fashion Center Mall, 50-70 West 93rd Street and others.

(Amounts in thousands)			Percentage
			Ownership at		For the Year Ended December 31,
			December 31, 2015		2015		2014		2013
Our Share of Net (Loss) Income:
	Alexander's:
		Equity in net income		32.4%	$	24,209	$	21,287	$	17,721
		Management, leasing and development fees				6,869		8,722		6,681
						31,078		30,009		24,402

	UE (see page 109 for details):
		Equity in net earnings		5.4%		2,430		-		-
		Management fees				1,964		-		-
						4,394		-		-

	Toys:
		Equity in net loss⁽¹⁾		32.5%		-		(4,691)		(128,919)
		Non-cash impairment losses (see page 108 for details)				-		(75,196)		(240,757)
		Management fees				2,500		6,331		7,299
						2,500		(73,556)		(362,377)

	Partially owned office buildings⁽²⁾			Various		(23,556)		93		(4,212)

	India real estate ventures⁽³⁾			4.1%-36.5%		(18,746)		(8,309)		(3,533)

	PREIT (see page 109 for details)			8.1%		(7,450)		-		-

	LNR⁽⁴⁾			n/a		-		-		18,731

	Lexington⁽⁵⁾			n/a		-		-		(979)

	Other investments⁽⁶⁾			Various		(850)		(8,098)		(12,914)

					$	(12,630)	$	(59,861)	$	(340,882)


(1)	Pursuant to Rule 4-08(g) of Regulation S-X, in 2014 and 2013 Toys was considered a significant subsidiary where as in 2015 it was not. For the twelve months ended November 1, 2014, Toys’ total revenue was $12,645,000 and net loss attributable to Toys was $343,000. For the twelve months ended November 2, 2013, Toys’ total revenue was $13,046,000 and net loss attributable to Toys was $396,000.
(2)	Includes interests in 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue, 512 West 22nd Street and others. In 2015, we recognized net losses of $39,600 from our 666 Fifth Avenue (Office) joint venture as a result of our share of depreciation expense. Also in 2015, we recognized our $12,800 share of a write-off of a below market lease liability related to a tenant vacating at 650 Madison Avenue. In 2014, we recognized our $14,500 share of accelerated depreciation from our West 57th Street joint ventures in connection with the change in estimated useful life of those properties.
(3)	Includes a $14,806 and $5,771 non-cash impairment loss in 2015 and 2014, respectively.
(4)	In 2013, we recognized net income of $18,731, comprised of (i) $42,186 for our share of LNR’s net income and (ii) a $27,231 non-cash impairment loss and (iii) a $3,776 net gain on sale.
(5)	In the first quarter of 2013, we began accounting for our investment in Lexington as a marketable security - available for sale.
(6)	Includes interests in Independence Plaza, 85 Tenth Avenue, Fashion Center Mall, 50-70 West 93rd Street and others. In 2014, we recognized a $10,263 non-cash charge, comprised of a $5,959 impairment loss and a $4,304 loan loss reserve, on our equity and debt investments in Suffolk Downs.

Schedule of debt of partially owned entities [Table Text Block]

(Amounts in thousands)			Percentage		Interest
			Ownership at		Rate at	100% Partially Owned Entities’
			December 31,		December 31,	Debt at December 31,
			2015	Maturity	2015	2015		2014
Toys:
	Notes, loans and mortgages payable		32.5%	2016-2021	7.35%	$	5,619,710	$	5,748,350

Partially owned office buildings⁽¹⁾^:
	Mortgages payable		Various	2016-2023	5.57%	$	3,771,255	$	3,691,274

PREIT:
	Mortgages payable		8.1%	2016-2025	4.04%	$	1,852,270	$	-

UE:
	Mortgages payable		5.4%	2018-2034	4.15%	$	1,246,155	$	-

Alexander's:
	Mortgages payable		32.4%	2016-2022	1.69%	$	1,053,262	$	1,032,780

India Real Estate Ventures:
	TCG Urban Infrastructure Holdings mortgages
		payable	25.0%	2016-2026	12.06%	$	185,607	$	183,541

Other⁽²⁾^:
	Mortgages payable		Various	2016-2023	4.27%	$	1,316,641	$	1,314,077


(1)	Includes 280 Park Avenue, 650 Madison Avenue, One Park Avenue, 666 Fifth Avenue (Office), 330 Madison Avenue, 512 West 22nd Street and others.
(2)	Includes Independence Plaza, Fashion Center Mall, 50-70 West 93rd Street and others.

Dispositions (Tables)

12 Months Ended

Dec. 31, 2015

Dispositions [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

(Amounts in thousands)			Balance as of
			December 31, 2015			December 31, 2014
Assets related to discontinued operations:
Real estate, net			$	29,561		$	2,028,677
Other assets				7,459			205,451
			$	37,020		$	2,234,128

Liabilities related to discontinued operations:
Mortgages payable, net			$	-		$	1,278,182
Other liabilities (primarily deferred revenue in 2014)					12,470			222,827
			$	12,470		$	1,501,009


(Amounts in thousands)	For the Year Ended December 31,
	2015		2014			2013
Income from discontinued operations:
Total revenues	$	27,831	$	395,786		$	502,061
Total expenses		17,651		274,107			310,364
		10,180		121,679			191,697
Net gains on sales of real estate		65,396		507,192			414,502
Transaction related costs (primarily UE spin off)		(22,972)		(14,956)			-
Impairment losses		(256)		(26,518)			(37,170)
Net gain on sale of asset other than real estate		-		-			1,377
Pretax income from discontinued operations		52,348		587,397			570,406
Income tax expense		(86)		(1,721)			(2,311)
Income from discontinued operations	$	52,262	$	585,676		$	568,095


Cash flows related to discontinued operations:
Cash flows from operating activities	$	(33,462)	$	123,837		$	279,436
Cash flows from investing activities		346,865		(180,019)			(117,497)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230

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-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
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-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
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-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760

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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760

+ Details

Identified Intangible Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2015

Finite-Lived Intangible Assets [Line Items]

Schedule of Identified Intangible Assets and Intangible Liabilities [Table Text Block]

(Amounts in thousands)	Balance as of December 31,
	2015		2014
Identified intangible assets:
Gross amount	$	415,261	$	424,976
Accumulated amortization		(187,360)		(199,821)
Net	$	227,901	$	225,155
Identified intangible liabilities (included in deferred revenue):
Gross amount	$	643,488	$	657,976
Accumulated amortization		(325,340)		(329,775)
Net	$	318,148	$	328,201

Below Market Leases Net Of Above Market Leases [Member]

Finite-Lived Intangible Assets [Line Items]

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

(Amounts in thousands)
2016	$	52,359
2017		44,501
2018		43,028
2019		31,011
2020		23,320

Other Identified Intangible Assets [Member]

Finite-Lived Intangible Assets [Line Items]

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

(Amounts in thousands)
2016	$	29,349
2017		24,427
2018		20,063
2019		15,779
2020		12,345

Tenant Under Ground Leases [Member]

Finite-Lived Intangible Assets [Line Items]

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

(Amounts in thousands)
2016	$	1,832
2017		1,832
2018		1,832
2019		1,832
2020		1,832

Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

(Amounts in thousands)			Weighted Average
			Interest Rate at			Balance at December 31,
			December 31, 2015			2015		2014
Mortgages Payable:
	Fixed rate			4.29%	$	6,356,634	$	6,497,286
	Variable rate			2.14%		3,258,204		1,763,769
		Total		3.56%		9,614,838		8,261,055
	Deferred financing costs, net and other					(101,125)		(73,212)
		Total, net			$	9,513,713	$	8,187,843

Unsecured Debt:
	Senior unsecured notes			3.68%	$	850,000	$	1,350,000
	Deferred financing costs, net and other					(5,841)		(7,506)
		Senior unsecured notes, net				844,159		1,342,494

	Unsecured term loan			1.40%		187,500		-
	Deferred financing costs, net and other					(4,362)		-
		Unsecured term loan, net				183,138		-

	Unsecured revolving credit facilities			1.38%		550,000		-

		Total, net			$	1,577,297	$	1,342,494

Schedule of Maturities of Long-Term Debt [Table Text Block]

(Amounts in thousands)				Senior Unsecured
				Debt and Unsecured
				Revolving Credit
		Mortgages Payable		Facilities
Year Ending December 31,
2016	$	1,095,366	$	550,000
2017		411,113		-
2018		441,354		-
2019		379,122		450,000
2020		2,835,451		187,500
Thereafter		4,452,432		400,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 10
-Section 50
-Paragraph 8
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Redeemable Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2015

Redeemable Noncontrolling Interests [Abstract]

Operating Partnership Units Held By Third Parties [Table Text Block]


(Amounts in thousands, except units and										Preferred or
per unit amounts)		Balance as of				Units Outstanding at		Per Unit		Annual
		December 31,				December 31,		Liquidation		Distribution
Unit Series		2015			2014	2015	2014	Preference		Rate
Common:
	Class A	$	1,223,793	$	1,336,780	12,242,820	11,356,550		n/a	$	2.52

Perpetual Preferred: ⁽¹⁾
	5.00% D-16 Cumulative Redeemable	$	1,000	$	1,000	1	1	$	1,000,000.00	$	50,000.00
	3.25% D-17 Cumulative Redeemable	$	4,428	$	-	177,100	-	$	25.00	$	0.8125


(1)	Holders may tender units for redemption to the Operating Partnership for cash at their stated redemption amount; we, at our option, may assume that obligation and pay the holders either cash or Vornado preferred shares on a one-for-one basis. These units are redeemable at our option at any time.

Summary Of Activity Of Redeemable Noncontrolling Interests [Table Text Block]

Below is a table summarizing the activity of redeemable noncontrolling interests.

	(Amounts in thousands)
	Balance at December 31, 2013	$	1,003,620
	Net income		47,613
	Other comprehensive income		1,323
	Distributions		(33,469)
	Redemption of Class A units for common shares, at redemption value		(27,273)
	Adjustments to carry redeemable Class A units at redemption value		315,276
	Other, net		30,690
	Balance at December 31, 2014		1,337,780
	Net income		43,231
	Other comprehensive income		(2,866)
	Distributions		(30,263)
	Redemption of Class A units for common shares, at redemption value		(48,230)
	Adjustments to carry redeemable Class A units at redemption value		(192,464)
	Issuance of Class A units		80,000
	Issuance of Series D-17 Preferred Units		4,428
	Other, net		37,605
	Balance at December 31, 2015	$	1,229,221

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

Shareholders' Equity [Abstract]

Schedule Of Preferred Units [Table Text Block]

(Amounts in thousands, except share and		Balance as of				Shares Outstanding at		Per Share		Annual
per share amounts)		December 31,				December 31,		Liquidation		Dividend
Preferred Shares		2015		2014		2015	2014	Preference		Rate⁽¹⁾
Convertible Preferred:
	6.5% Series A: authorized 83,977 shares⁽²⁾	$	1,321	$	1,393	26,629	28,939	$	50.00	$	3.25
Cumulative Redeemable:
	6.625% Series G: authorized 8,000,000 shares⁽³⁾		193,135		193,135	8,000,000	8,000,000	$	25.00	$	1.65625
	6.625% Series I: authorized 10,800,000 shares⁽³⁾		262,379		262,379	10,800,000	10,800,000	$	25.00	$	1.65625
	6.875% Series J: authorized 9,850,000 shares⁽³⁾		238,842		238,842	9,850,000	9,850,000	$	25.00	$	1.71875
	5.70% Series K: authorized 12,000,000 shares⁽³⁾		290,971		290,971	12,000,000	12,000,000	$	25.00	$	1.425
	5.40% Series L: authorized 12,000,000 shares⁽³⁾		290,306		290,306	12,000,000	12,000,000	$	25.00	$	1.35
		$	1,276,954	$	1,277,026	52,676,629	52,678,939


(1)	Dividends on preferred shares are cumulative and are payable quarterly in arrears.
(2)	Redeemable at our option under certain circumstances, at a redemption price of 1.5934 and 1.4334 common shares per Series A Preferred Share plus accrued and unpaid dividends through the date of redemption, or convertible at any time at the option of the holder for 1.5934 and 1.4334 common shares per Series A Preferred Share, as of December 31, 2015 and 2014, respectively.
(3)	Redeemable at our option at a redemption price of $25.00 per share, plus accrued and unpaid dividends through the date of redemption.

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

(Amounts in thousands)	For the Year Ended December 31, 2015
			Securities		Pro rata share of		Interest
			available-		nonconsolidated		rate
	Total		for-sale		subsidiaries' OCI		swap		Other
Balance as of December 31, 2014	$	93,267	$	133,774	$	(8,992)	$	(25,803)	$	(5,712)
Net current period OCI		(46,346)		(55,326)		(327)		6,435		2,872
Balance as of December 31, 2015	$	46,921	$	78,448	$	(9,319)	$	(19,368)	$	(2,840)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Values of Financial Assets and Liabilities by Levels [Table Text Block]

(Amounts in thousands)		As of December 31, 2015
		Total		Level 1		Level 2		Level 3
Marketable securities		$	150,997	$	150,997	$	-	$	-
Real estate fund investments (75% of which is attributable to
	noncontrolling interests)		574,761		-		-		574,761
Deferred compensation plan assets (included in other assets)			117,475		58,289		-		59,186
	Total assets	$	843,233	$	209,286	$	-	$	633,947

Mandatorily redeemable instruments (included in other liabilities)		$	50,561	$	50,561	$	-	$	-
Interest rate swaps (included in other liabilities)			19,600		-		19,600		-
	Total liabilities	$	70,161	$	50,561	$	19,600	$	-


(Amounts in thousands)		As of December 31, 2014
		Total		Level 1		Level 2		Level 3
Marketable securities		$	206,323	$	206,323	$	-	$	-
Real estate fund investments (75% of which is attributable to
	noncontrolling interests)		513,973		-		-		513,973
Deferred compensation plan assets (included in other assets)			117,284		53,969		-		63,315
	Total assets	$	837,580	$	260,292	$	-	$	577,288

Mandatorily redeemable instruments (included in other liabilities)		$	55,097	$	55,097	$	-	$	-
Interest rate swap (included in other liabilities)			25,797		-		25,797		-
	Total liabilities	$	80,894	$	55,097	$	25,797	$	-

Non-financial Assets Measured at Fair Value on a Nonrecurring Basis [Table Text Block]

(Amounts in thousands)	As of December 31, 2015
	Total		Level 1		Level 2		Level 3
Real estate assets	$	-	$	-	$	-	$	-

(Amounts in thousands)	As of December 31, 2014
	Total		Level 1		Level 2		Level 3
Real estate assets	$	4,848	$	-	$	-	$	4,848

Schedule Of Carrying Amounts And Fair Values Of Financial Instruments [Table Text Block]

(Amounts in thousands)			As of December 31, 2015				As of December 31, 2014
			Carrying		Fair		Carrying		Fair
			Amount		Value		Amount		Value
Cash equivalents			$	1,295,980	$	1,296,000	$	749,418	$	749,000
Mezzanine loan receivable (included in other assets)				-		-		16,748		17,000
			$	1,295,980	$	1,296,000	$	766,166	$	766,000
Debt:
	Mortgages payable		$	9,614,838	$	9,306,000	$	8,261,055	$	8,224,000
	Senior unsecured notes			850,000		868,000		1,350,000		1,385,000
	Unsecured term loan			187,500		187,500		-		-
	Unsecured revolving credit facilities			550,000		550,000		-		-
		Total	$	11,202,338	$	10,911,500	$	9,611,055	$	9,609,000

Real Estate Fund [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

			Weighted Average
			(based on fair
Unobservable Quantitative Input		Range	value of investments)
	Discount rates	12.0% to 14.9%	13.6%
	Terminal capitalization rates	4.8% to 6.1%	5.5%

Summary of Changes in Level 3 Plan Assets [Table Text Block]

(Amounts in thousands)	For The Year Ended December 31,
	2015		2014
Beginning balance	$	513,973	$	667,710
Purchases		95,010		3,392
Dispositions / Distributions		(91,450)		(307,268)
Net unrealized gains		54,995		73,802
Net realized gains		2,757		76,337
Other, net		(524)		-
Ending balance	$	574,761	$	513,973

Deferred Compensation Plan Assets [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Summary of Changes in Level 3 Plan Assets [Table Text Block]

(Amounts in thousands)	For The Year Ended December 31,
	2015		2014
Beginning balance	$	63,315	$	68,782
Purchases		9,062		14,162
Sales		(13,252)		(24,951)
Realized and unrealized gains		(501)		3,415
Other, net		562		1,907
Ending balance	$	59,186	$	63,315

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Stock-based Compensation [Abstract]

Schedule Of Sharebased Compensation Restricted Operating Partnership Units Earned [Table Text Block]


Plan Year		Notional Amount		Grant-Date Fair Value⁽¹⁾		OPP Units Earned
2015		$	40,000,000	$	9,120,000	To be determined in 2017
2014			50,000,000		8,202,000	To be determined in 2016
2013			40,000,000		6,814,000	85,420
2012			40,000,000		12,250,000	303,202


(1)	Such amounts are being amortized into expense over a five-year period from the date of grant, using a graded vesting attribution model. In the years ended December 31, 2015, 2014 and 2013, we recognized $15,531,000, $6,185,000 and $3,226,000, respectively, of compensation expense related to OPPs. As of December 31, 2015, there was $5,087,000 of total unrecognized compensation cost related to the OPPs, which will be recognized over a weighted-average period of 1.7 years.

Schedule Of Share Based Compensation Stock Options Activity [Table Text Block]

					Weighted-
			Weighted-		Average
			Average		Remaining	Aggregate
			Exercise		Contractual	Intrinsic
		Shares	Price		Term	Value
Outstanding at January 1, 2015⁽¹⁾		2,965,968	$	60.82
Granted		35,208		112.10
Exercised		(160,266)		82.21
Cancelled or expired		(13,340)		100.21
Outstanding at December 31, 2015		2,827,570	$	60.06	4.0	$	115,796,000
Options vested and expected to vest at
	December 31, 2015	2,826,685	$	60.06	4.0	$	115,788,000
Options exercisable at December 31, 2015		2,741,863	$	59.08	3.8	$	114,653,000


(1)	Adjusted for the effect of the UE spin-off.

Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Table Text Block]

	December 31,
	2015	2014	2013
Expected volatility	35.00%	36.00%	36.00%
Expected life	5.0 years	5.0 years	5.0 years
Risk free interest rate	1.56%	1.81%	0.91%
Expected dividend yield	3.30%	4.10%	4.30%

Schedule Of Sharebased Compensation Restricted Stock And Restricted Stock Units Activity [Table Text Block]

			Weighted-Average
			Grant-Date
Unvested Shares		Shares	Fair Value
Unvested at January 1, 2015⁽¹⁾		24,478	$	78.32
Granted		8,177		110.84
Vested		(11,298)		78.08
Cancelled or expired		(1,765)		88.69
Unvested at December 31, 2015		19,592		91.09


(1)	Adjusted for the effect of the UE spin-off.

Schedule Of Sharebased Compensation Restricted Operating Partnership Units Activity [Table Text Block]

			Weighted-Average
			Grant-Date
Unvested Units		Units	Fair Value
Unvested at January 1, 2015⁽¹⁾		721,662	$	74.38
Granted		197,497		102.75
Vested		(270,443)		74.22
Cancelled or expired		(9,699)		83.89
Unvested at December 31, 2015		639,017		83.07


(1)	Adjusted for the effect of the UE spin-off.

Fee and Other Income (Tables)

12 Months Ended

Dec. 31, 2015

Fee And Other Income Tables [Abstract]

Fee and Other Income (Table)

(Amounts in thousands)		For the Year Ended December 31,
		2015		2014		2013
BMS cleaning fees		$	82,113	$	85,658	$	66,505
Lease termination fees⁽¹⁾			27,233		16,362		32,630
Management and leasing fees			16,831		19,905		23,073
Other income			38,528		33,281		33,363
		$	164,705	$	155,206	$	155,571


(1)	The year ended December 31, 2015 includes $15,000 related to the New York Stock Exchange lease termination at 20 Broad Street. The year ended December 31, 2013 includes $19,500 from a tenant at 1290 Avenue of the Americas, of which our 70% share, net of a $1,529 write-off of the straight lining of rents, was $12,121; and $3,000 from the termination of our subsidiaries' agreements with Cuyahoga County to operate the Cleveland Medical Mart Convention Center.

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

12 Months Ended

Dec. 31, 2015

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

Schedule Of Interest And Other Investment Income (Loss), Net [Table Text Block]

(Amounts in thousands)		For the Year Ended December 31,
		2015		2014		2013
Dividends on marketable securities		$	12,836	$	12,707	$	11,446
Interest on loans receivable			6,371		6,107		20,683
Mark-to-market of investments in our deferred compensation plan⁽¹⁾			111		11,557		10,636
Losses from the disposition of investment in J.C. Penney			-		-		(72,974)
Other, net			7,660		8,381		5,322
		$	26,978	$	38,752	$	(24,887)


(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.

Interest and Debt Expense (Tables)

12 Months Ended

Dec. 31, 2015

Interest and Debt Expense [Abstract]

Interest And Debt Expense [Table Text Block]

(Amounts in thousands)	For the Year Ended December 31,
	2015		2014		2013
Interest expense	$	405,169	$	430,278	$	444,412
Amortization of deferred financing costs		32,161		45,263		23,673
Capitalized interest and debt expense		(59,305)		(62,786)		(42,303)
	$	378,025	$	412,755	$	425,782

Income Per Share (Tables)

12 Months Ended

Dec. 31, 2015

Income Per Share [Abstract]

Schedule Of Earnings Per Share Basic And Diluted [Text Block]


(Amounts in thousands, except per share amounts)			Year Ended December 31,
			2015		2014		2013
Numerator:
	Income (loss) from continuing operations, net of income attributable to
		noncontrolling interests	$	711,240	$	312,700	$	(56,727)
	Income from discontinued operations, net of income attributable to noncontrolling
		interests		49,194		552,152		532,698
	Net income attributable to Vornado			760,434		864,852		475,971
	Preferred share dividends			(80,578)		(81,464)		(82,807)
	Preferred unit and share redemptions			-		-		(1,130)
	Net income attributable to common shareholders			679,856		783,388		392,034
	Earnings allocated to unvested participating securities			(81)		(125)		(110)
	Numerator for basic income per share			679,775		783,263		391,924
	Impact of assumed conversions:
		Convertible preferred share dividends		91		97		-
	Numerator for diluted income per share		$	679,866	$	783,360	$	391,924

Denominator:
	Denominator for basic income per share – weighted average shares			188,353		187,572		186,941
	Effect of dilutive securities ⁽¹⁾:
		Employee stock options and restricted share awards		1,166		1,075		768
		Convertible preferred shares		45		43		-
	Denominator for diluted income per share – weighted average shares and
		assumed conversions		189,564		188,690		187,709

INCOME (LOSS) PER COMMON SHARE – BASIC:
	Income (loss) from continuing operations, net		$	3.35	$	1.23	$	(0.75)
	Income from discontinued operations, net			0.26		2.95		2.85
	Net income per common share		$	3.61	$	4.18	$	2.10

INCOME (LOSS) PER COMMON SHARE – DILUTED:
	Income (loss) from continuing operations, net		$	3.33	$	1.22	$	(0.75)
	Income from discontinued operations, net			0.26		2.93		2.84
	Net income per common share		$	3.59	$	4.15	$	2.09


(1)	The effect of dilutive securities in the years ended December 31, 2015, 2014 and 2013 excludes an aggregate of 11,744, 11,238 and 11,752 weighted average common share equivalents, respectively, as their effect was anti-dilutive.

Leases (Tables)

12 Months Ended

Dec. 31, 2015

Leases [Abstract]

Schedule Of Future Base Rental [Table Text Block]


(Amounts in thousands)
Year Ending December 31:
2016	$	1,633,615
2017		1,686,056
2018		1,644,440
2019		1,496,805
2020		1,349,724
Thereafter		8,103,382

Schedule Of Future Minimum Rental Payments For Operating Leases [Table Text Block]


(Amounts in thousands)
Year Ending December 31:
2016	$	33,265
2017		34,831
2018		35,317
2019		35,826
2020		36,353
Thereafter		1,557,541

Schedule Of Future Minimum Lease Payments For Capital Leases [Table Text Block]


(Amounts in thousands)
Year Ending December 31:
2016	$	12,500
2017		12,500
2018		12,500
2019		12,500
2020		12,500
Thereafter		322,292
Total minimum obligations		384,792
Interest portion		(144,792)
Present value of net minimum payments	$	240,000

Summary of Quarterly Results (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Quarterly Results (Unaudited) [Abstract]

Schedule Of Quarterly Financial Information [Table Text Block]

(Amounts in thousands, except per share amounts)				Net Income
				Attributable		Net Income Per
				to Common		Common Share (2)
		Revenues		Shareholders (1)		Basic		Diluted
2015
	December 31	$	651,581	$	230,742	$	1.22	$	1.22
	September 30		627,596		198,870		1.05		1.05
	June 30		616,288		165,651		0.88		0.87
	March 31		606,802		84,593		0.45		0.45

2014
	December 31	$	597,010	$	513,238	$	2.73	$	2.72
	September 30		578,710		131,159		0.70		0.69
	June 30		574,411		76,642		0.41		0.41
	March 31		562,381		62,349		0.33		0.33


(1)	Fluctuations among quarters resulted primarily from non-cash impairment losses, mark-to-market of derivative instruments, net gains on sale of real estate and from seasonality of business operations.
(2)	The total for the year may differ from the sum of the quarters as a result of weighting.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2015

Segment Information [Abstract]

Schedule of Segment Information [Table Text Block]

(Amounts in thousands)		For the Year Ended December 31, 2015
			Total		New York			Washington, DC			Other
Total revenues			$	2,502,267	$	1,695,925		$	532,812		$	273,530
Total expenses				1,742,019		1,032,015			390,921			319,083
Operating income (loss)				760,248		663,910			141,891			(45,553)
(Loss) income from partially owned entities				(12,630)		655			(5,083)			(8,202)
Income from real estate fund investments				74,081		-			-			74,081
Interest and other investment income (loss), net				26,978		7,722			(262)			19,518
Interest and debt expense				(378,025)		(194,278)			(68,727)			(115,020)
Net gain on disposition of wholly owned and partially
	owned assets			251,821		142,693			102,404			6,724
Income (loss) before income taxes				722,473		620,702			170,223			(68,452)
Income tax benefit (expense)				84,695		(4,379)			(317)			89,391
Income from continuing operations				807,168		616,323			169,906			20,939
Income from discontinued operations				52,262		-			-			52,262
Net income				859,430		616,323			169,906			73,201
Less net income attributable to noncontrolling interests				(98,996)		(13,022)			-			(85,974)
Net income (loss) attributable to Vornado				760,434		603,301			169,906			(12,773)
Interest and debt expense⁽²⁾				469,843		248,724			82,386			138,733
Depreciation and amortization⁽²⁾				664,637		394,028			179,788			90,821
Income tax (benefit) expense⁽²⁾				(85,379)		4,766			(1,610)			(88,535)
EBITDA⁽¹⁾			$	1,809,535	$	1,250,819	⁽³⁾	$	430,470	⁽⁴⁾	$	128,246	⁽⁵⁾

Balance Sheet Data:
Real estate, at cost			$	18,090,137	$	10,577,078		$	4,544,842		$	2,968,217
Investments in partially owned entities				1,550,422		1,195,122			100,511			254,789
Total assets				21,143,293		12,257,774			4,536,895			4,348,624

See notes on pages 136 and 137.

(Amounts in thousands)		For the Year Ended December 31, 2014
			Total		New York			Washington, DC			Other
Total revenues			$	2,312,512	$	1,520,845		$	537,151		$	254,516
Total expenses				1,622,619		946,466			358,019			318,134
Operating income (loss)				689,893		574,379			179,132			(63,618)
(Loss) income from partially owned entities				(59,861)		20,701			(3,677)			(76,885)
Income from real estate fund investments				163,034		-			-			163,034
Interest and other investment income, net				38,752		6,711			183			31,858
Interest and debt expense				(412,755)		(183,427)			(75,395)			(153,933)
Net gain on disposition of wholly owned and partially
	owned assets			13,568		-			-			13,568
Income (loss) before income taxes				432,631		418,364			100,243			(85,976)
Income tax expense				(9,281)		(4,305)			(242)			(4,734)
Income (loss) from continuing operations				423,350		414,059			100,001			(90,710)
Income from discontinued operations				585,676		463,163			-			122,513
Net income				1,009,026		877,222			100,001			31,803
Less net income attributable to noncontrolling interests				(144,174)		(8,626)			-			(135,548)
Net income (loss) attributable to Vornado				864,852		868,596			100,001			(103,745)
Interest and debt expense⁽²⁾				654,398		241,959			89,448			322,991
Depreciation and amortization⁽²⁾				685,973		324,239			145,853			215,881
Income tax expense⁽²⁾				24,248		4,395			288			19,565
EBITDA⁽¹⁾			$	2,229,471	$	1,439,189	⁽³⁾	$	335,590	⁽⁴⁾	$	454,692	⁽⁵⁾

Balance Sheet Data:
Real estate, at cost			$	16,822,358	$	9,732,818		$	4,383,418		$	2,706,122
Investments in partially owned entities				1,240,489		1,036,130			102,635			101,724
Total assets				21,157,980		10,706,476			4,300,628			6,150,876

(Amounts in thousands)		For the Year Ended December 31, 2013
			Total		New York			Washington, DC			Other
Total revenues			$	2,299,176	$	1,470,907		$	541,161		$	287,108
Total expenses				1,624,625		910,498			347,686			366,441
Operating income (loss)				674,551		560,409			193,475			(79,333)
(Loss) income from partially owned entities				(340,882)		15,527			(6,968)			(349,441)
Income from real estate fund investments				102,898		-			-			102,898
Interest and other investment (loss) income, net				(24,887)		5,357			129			(30,373)
Interest and debt expense				(425,782)		(181,966)			(102,277)			(141,539)
Net gain on disposition of wholly owned and partially
	owned assets			2,030		-			-			2,030
(Loss) income before income taxes				(12,072)		399,327			84,359			(495,758)
Income tax benefit (expense)				8,717		(2,794)			14,031			(2,520)
(Loss) income from continuing operations				(3,355)		396,533			98,390			(498,278)
Income from discontinued operations				568,095		160,314			-			407,781
Net income (loss)				564,740		556,847			98,390			(90,497)
Less net income attributable to noncontrolling interests				(88,769)		(10,786)			-			(77,983)
Net income (loss) attributable to Vornado				475,971		546,061			98,390			(168,480)
Interest and debt expense⁽²⁾				758,781		236,645			116,131			406,005
Depreciation and amortization⁽²⁾				732,757		293,974			142,409			296,374
Income tax expense (benefit)⁽²⁾				26,371		3,002			(15,707)			39,076
EBITDA⁽¹⁾			$	1,993,880	$	1,079,682	⁽³⁾	$	341,223	⁽⁴⁾	$	572,975	⁽⁵⁾

Balance Sheet Data:
Real estate, at cost			$	15,392,968	$	8,422,297		$	4,243,048		$	2,727,623
Investments in partially owned entities				1,159,803		904,278			100,543			154,982
Total assets				20,018,210		9,214,055			4,098,338			6,705,817


See notes on page 136 and 137.

Notes to preceding tabular information:

(1)	EBITDA represents "Earnings Before Interest, Taxes, Depreciation and Amortization." We consider EBITDA a non-GAAP financial 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 expense in the reconciliation of net income to EBITDA includes our share of these items from partially owned entities.

(3)	The elements of "New York" EBITDA are summarized below.

	(Amounts in thousands)		For the Year Ended December 31,
			2015		2014		2013
	Office		$	661,579	$	622,818	$	612,009
	Retail			358,379		281,428		246,808
	Residential			22,266		21,907		20,420
	Alexander's			42,858		41,746		42,210
	Hotel Pennsylvania			23,044		30,753		30,723
	Net gains on sale of real estate^(a)			142,693		440,537		127,512
		Total New York	$	1,250,819	$	1,439,189	$	1,079,682


	(a)	Net gains on sale of real estate are related to 20 Broad Street in 2015, 1740 Broadway in 2014, and 866 UN Plaza in 2013.

(4)	The elements of "Washington, DC" EBITDA are summarized below.

	(Amounts in thousands)		For the Year Ended December 31,
			2015		2014		2013
	Office, excluding the Skyline properties		$	264,864	$	266,859	$	268,373
	Skyline properties			24,224		27,150		29,499
	Net gain on sale of 1750 Pennsylvania Avenue			102,404		-		-
		Total Office		391,492		294,009		297,872
	Residential			38,978		41,581		43,351
		Total Washington, DC	$	430,470	$	335,590	$	341,223

Details of Other EBITDA [Table Text Block]

Notes to preceding tabular information:

(5)	The elements of "Other" EBITDA are summarized below.

	(Amounts in thousands)		For the Year Ended December 31,
			2015		2014			2013
	Our share of real estate fund investments:
		Income before net realized/unrealized gains	$	8,611	$	8,056	$	7,752
		Net realized/unrealized gains on investments		14,657		37,535		23,489
		Carried interest		10,696		24,715		18,230
	Total			33,964		70,306		49,471
	theMart and trade shows			79,159		79,636		74,270
	555 California Street			49,975		48,844		42,667
	India real estate ventures			3,933		6,434		5,841
	Our share of Toys^(a)			2,500		103,632		(12,081)
	Other investments			38,141		16,896		45,856
				207,672		325,748		206,024
	Corporate general and administrative expenses^(b)(c)			(106,416)		(94,929)		(94,904)
	Investment income and other, net^(b)			26,385		31,665		46,525
	Gains on sale of partially owned entities and other			37,666		13,000		-
	UE and residual retail properties discontinued operations			28,314		245,679		541,516
	Our share of impairment loss on India real estate ventures			(14,806)		(5,771)		-
	Acquisition and transaction related costs			(12,511)		(16,392)		(24,857)
	Net gain on sale of marketable securities, land parcels and residential condominiums			6,724		13,568		56,868
	Impairment loss and loan loss reserve on investment in Suffolk Downs			(1,551)		(10,263)		-
	Losses from the disposition of investment in J.C. Penney			-		-		(127,888)
	Severance costs (primarily reduction in force at theMart)			-		-		(5,492)
	Net income attributable to noncontrolling interests in the Operating Partnership			(43,231)		(47,613)		(24,817)
			$	128,246	$	454,692	$	572,975


	(a)	As a result of our investment being reduced to zero, we suspended equity method accounting in the third quarter of 2014 (see Note 6 - Investments in Partially Owned Entities). The years ended December 31, 2014 and 2013 include an impairment loss of $75,196 and $240,757, respectively.
	(b)	The amounts in these captions (for this table only) exclude income/expense from the mark-to-market of our deferred compensation plan of $111, $11,557 and $10,636 for the years ended December 31, 2015, 2014 and 2013, respectively.
	(c)	The year ended December 31, 2015 includes $6,217 from the acceleration of the recognition of compensation expense related to 2013-2015 Out-Performance Plans due to the modification of the vesting criteria of awards such that they will fully vest at age 65. The accelerated expense will result in lower general and administrative expense for 2016 of $2,940 and $3,277 thereafter.

Organization and Business (Details) ft² in Millions		12 Months Ended
Organization and Business (Details) ft² in Millions	Jan. 15, 2015 USD ($) Properties shares	Dec. 31, 2015 USD ($) ft² Properties ResidentialUnits Rooms	Dec. 31, 2014 USD ($) Properties	Dec. 31, 2013 USD ($)
Organization and Business [Abstract]
Common limited partnership interest in the Operating Partnership		93.70%
Real Estate Properties [Line Items]
Cash Considerations Transferred During Spin Off (in US Dollars) \| $		$ 225,000,000	$ 0	$ 0
Urban Edge Properties [Member]
Real Estate Properties [Line Items]
Number of new shares issued during spin off for every 2 shares of Vornado \| shares	1
Urban Edge Properties [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Cash Considerations Transferred During Spin Off (in US Dollars) \| $	$ 225,000,000
Partnership Units received during spin off \| shares	5,717,184
Equity method ownership percentage	5.40%
Maximum [Member] \| Urban Edge Properties [Member]
Real Estate Properties [Line Items]
Duration Of Administrative Services	2 years
Maximum [Member] \| Urban Edge Properties [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Duration Of Administrative Services	2 years
Toys R Us [Member]
Real Estate Properties [Line Items]
Equity method ownership percentage		32.50%
Alexanders Inc [Member]
Real Estate Properties [Line Items]
Equity method ownership percentage		32.40%
Retail Segment Strip Shopping Centers [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties			22
Retail Segment Strip Shopping Centers [Member] \| Urban Edge Properties [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties	79
Retail Segment Regional Malls [Member] \| Urban Edge Properties [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties	3
Vornado Realty Trust [Member]
Real Estate Properties [Line Items]
Number of shares convered during spin off for 1 share of UE \| shares	2
Real Estate Fund [Member]
Real Estate Properties [Line Items]
Equity method ownership percentage		25.00%
New York Segment [Member] \| Alexanders Inc [Member]
Real Estate Properties [Line Items]
Equity method ownership percentage		32.40%
New York Segment [Member] \| New York City Metropolitan Area [Member] \| Alexanders Inc [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties		7
New York Segment [Member] \| New York City Metropolitan Area [Member] \| Lexington Avenue 731 [Member]
Real Estate Properties [Line Items]
Square Footage Of Real Estate Property \| ft²		1.3
New York Segment [Member] \| Manhattan [Member] \| Hotel Pennsylvania [Member]
Real Estate Properties [Line Items]
Number of Units in Real Estate Property (in number of residential units) \| Rooms		1,700
Warehouse [Member] \| Urban Edge Properties [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties	1
Office Building [Member] \| San Francisco [Member] \| 555 California Street [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties		3
Square Footage Of Real Estate Property \| ft²		1.8
Contolling Interest In Real Estate Properties Percent		70.00%
Office Building [Member] \| New York Segment [Member] \| Manhattan [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties		35
Square Footage Of Real Estate Property \| ft²		21.3
Office Building [Member] \| Washington DC Segment [Member] \| Washington Dc Northern Virginia [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties		57
Square Footage Of Real Estate Property \| ft²		15.8
Retail Properties [Member] \| New York Segment [Member] \| Manhattan [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties		65
Square Footage Of Real Estate Property \| ft²		2.6
Merchandise Mart Properties [Member] \| Merchandise Mart Chicago [Member]
Real Estate Properties [Line Items]
Square Footage Of Real Estate Property \| ft²		3.6
Residential Properties [Member] \| New York Segment [Member] \| Manhattan [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties		11
Number of Units in Real Estate Property (in number of residential units) \| ResidentialUnits		1,711
Residential Properties [Member] \| Washington DC Segment [Member] \| Washington Dc Northern Virginia [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties		7
Number of Units in Real Estate Property (in number of residential units) \| ResidentialUnits		2,414

Basis of Presentation and Significant Accounting Policies (Details)		12 Months Ended
	Jan. 15, 2015 USD ($) Properties shares	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($) Properties	Dec. 31, 2013 USD ($)
Basis of Presentation and Significant Accounting Policies [Abstract]
Interest Costs Capitalized		$ 59,305,000	$ 62,786,000
Debt Issuance Cost		7,720,000	11,549,000
Reclassification of signage revenue from fee and other income to property rentals			37,929,000	$ 32,866,000
Reclassification of debt issuance costs		79,987,000
Real Estate Properties [Line Items]
Cash Considerations Transferred During Spin Off (in US Dollars)		$ 225,000,000	$ 0	$ 0
Retail Segment Strip Shopping Centers [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties \| Properties			22
Urban Edge Properties [Member]
Real Estate Properties [Line Items]
Operating Partnership Units Received From Buyer \| shares	5,717,184
Urban Edge Properties [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Cash Considerations Transferred During Spin Off (in US Dollars)	$ 225,000,000
Equity method ownership percentage	5.40%
Urban Edge Properties [Member] \| Warehouse [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties \| Properties	1
Urban Edge Properties [Member] \| Retail Segment Strip Shopping Centers [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties \| Properties	79
Urban Edge Properties [Member] \| Retail Segment Regional Malls [Member] \| Discontinued Operations [Member]
Real Estate Properties [Line Items]
Number Of Real Estate Properties \| Properties	3
Maximum [Member]
Property Plant And Equipment [Line Items]
Real Estate And Accumulated Depreciation Life Used For Depreciation		40 years
Minimum [Member]
Property Plant And Equipment [Line Items]
Real Estate And Accumulated Depreciation Life Used For Depreciation		7 years

Basis of Presentation and Significant Accounting Policies (Details 1) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2014 USD ($)	Dec. 31, 2015 USD ($) swaps	Dec. 31, 2014 USD ($) swaps	Dec. 31, 2013 USD ($)
Basis of Presentation and Significant Accounting Policies [Abstract]
Number of interest rate swaps \| swaps		2	1
Schedule Of Equity Method Investments [Line Items]
Non cash impairment losses			$ 85,459	$ 281,098
Significant Policies Other Details [Abstract]
Tenant and other receivables, allowance for doubtful accounts (in US dollars)		$ 11,908	12,210
Receivables Arising From Straight Lining Of Rents Allowance		2,751	3,188
Toys R Us [Member]
Schedule Of Equity Method Investments [Line Items]
Non cash impairment losses	$ (75,196)	$ 0	$ 75,196	$ 240,757

Basis of Presentation and Significant Accounting Policies (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Tax Treatment Of Dividend [Line Items]
Minimum Percentage of Taxable Income Distributed As Dividends									90.00%
Income Tax Expense Benefit Continuing Operations Income Tax Reconciliation [Line Items]
Deferred Tax Assets	$ 97,104				$ 94,100				$ 97,104	$ 94,100
Net income attributable to common shareholders	230,742	$ 198,870	$ 165,651	$ 84,593	$ 513,238	$ 131,159	$ 76,642	$ 62,349	679,856	783,388	$ 392,034
Tangible Property Regulations									(575,618)	0	0
Sale of real estate and other capital transactions									320,326	(477,061)	(324,936)
Depreciation and Amortization									227,297	219,403	155,401
Straight-line rent adjustments									(144,727)	(77,526)	(64,811)
Stock Options									(8,278)	(9,566)	4,884
Earnings of partially owned entities									(5,299)	71,960	339,376
Impairment losses on marketable equity securities									0	0	37,236
Other, net									(5,833)	1,260	36,186
Estimated Taxable Income (unaudited)									487,724	511,858	575,370
Deferred tax assets allowance, reversed			$ 90,030						90,030	0	0
Income Tax Liability Relating to Taxable REIT Subsidiaries Current									8,322	$ 10,777	$ 9,608
Net Basis Difference Of Assets And Liabilities Between Tax Basis And GAAP Basis	$ 3,400,000								$ 3,400,000
Ordinary Income [Member]
Tax Treatment Of Dividend [Line Items]
Percentage Of Taxable Income Distributed									100.00%

Real Estate Fund Investments (Narratives) (Details) ft² in Thousands, $ in Thousands					12 Months Ended			35 Months Ended
	Mar. 25, 2015 USD ($)	Jan. 20, 2015 USD ($) LimitedPartners	Aug. 21, 2014 USD ($) ft²	Jun. 26, 2014 USD ($)	Dec. 31, 2015 USD ($) Investments	Dec. 31, 2014 USD ($) Investments	Dec. 31, 2013 USD ($)	Mar. 25, 2015 USD ($)
Investment Holdings [Line Items]
Aggregate fair value of Real Estate Fund investments (in US Dollars)					$ 574,761	$ 513,973
Mortgages payable, net					9,513,713	$ 8,187,843
Unfunded Commitments Of Fund					25,553
Crowne Plaza Time Square Hotel [Member]
Investment Holdings [Line Items]
Equity method ownership percentage		33.00%				11.00%
Real Estate Fund Joint Venture [Member] \| Crowne Plaza Time Square Hotel [Member]
Investment Holdings [Line Items]
Equity method ownership percentage		57.00%
Aggregate fair value of Real Estate Fund investments (in US Dollars)		$ 480,000
Mortgages payable, net		$ 310,000
Debt Instrument, Description of Variable Rate Basis		LIBOR
Spread Over LIBOR (in percentage)		2.80%
Debt Instrument Maturity		December 2018
Length Of Extension Available		1 year
Business Acquisition Cost Of Acquired Entity		$ 95,000
Real Estate Fund [Member]
Investment Holdings [Line Items]
Aggregate fair value of Real Estate Fund investments (in US Dollars)					574,761	$ 513,973
Net realized gain on sale of investment					$ 2,757	$ 76,337	$ 8,184
Term of the Fund, years					8 years
Investment period for commitments of the Fund, years					3 years
Number Of Investments Held By Fund \| Investments					6	7
Excess of fair value over cost					$ 208,614
Unfunded Commitments Of Fund					$ 102,212
Real Estate Fund [Member] \| Crowne Plaza Time Square Hotel [Member]
Investment Holdings [Line Items]
Number Of Limited Partners \| LimitedPartners		1
Vornado Realty Trust [Member] \| Crowne Plaza Time Square Hotel [Member]
Investment Holdings [Line Items]
Business Acquisition Cost Of Acquired Entity		$ 39,000
Retail Georgetown Park [Member] \| Real Estate Fund [Member]
Investment Holdings [Line Items]
Net realized gain on sale of investment			$ 51,124
Square Footage Of Real Estate Property \| ft²			305
Proceeds from sale of real estate			$ 272,500
Retail Georgetown Park [Member] \| Real Estate Fund [Member] \| Joint Venture [Member]
Investment Holdings [Line Items]
Equity method ownership percentage			50.00%
One Park Avenue [Member] \| Co Venture [Member]
Investment Holdings [Line Items]
Equity method ownership percentage				45.00%
One Park Avenue [Member] \| Vornado Realty Trust Excluding Real Estate Fund [Member]
Investment Holdings [Line Items]
Equity method ownership percentage				55.00%
One Park Avenue [Member] \| Real Estate Fund [Member]
Investment Holdings [Line Items]
Aggregate fair value of Real Estate Fund investments (in US Dollars)				$ 560,000
Net realized gain on sale of investment				$ 75,529
One Park Avenue [Member] \| Real Estate Fund [Member] \| Joint Venture [Member]
Investment Holdings [Line Items]
Sale Of Investments Percentage				64.70%
Santa Monica Office 520 Broadway [Member] \| Real Estate Fund [Member]
Investment Holdings [Line Items]
Net realized gain on sale of investment								$ 23,768
Proceeds from sale of real estate	$ 91,650

Real Estate Fund Investments (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details Of Income From Real Estate Funds [Abstract]
Income from real estate fund investments	$ 74,081	$ 163,034	$ 102,898
Less income attributable to noncontrolling interests	(55,765)	(96,561)	(63,952)
Fee And Other Income	164,705	155,206	155,571
Real Estate Fund [Member]
Details Of Income From Real Estate Funds [Abstract]
Net investment income	16,329	12,895	8,943
Net realized gains on exited investments	2,757	76,337	8,184
Net unrealized gains on held investments	54,995	73,802	85,771
Income from real estate fund investments	74,081	163,034	102,898
Less income attributable to noncontrolling interests	(40,117)	(92,728)	(53,427)
Income from real estate fund investments attributable to Vornado	33,964	70,306	49,471
Fee And Other Income	$ 2,939	$ 2,562	$ 2,721

Acquisitions (Narratives) (Details) $ in Thousands						12 Months Ended
Acquisitions (Narratives) (Details) $ in Thousands	Sep. 25, 2015 USD ($) ft²	Jul. 31, 2015 USD ($) ft² RenewalOptions shares	Jun. 02, 2015 USD ($) ft²	Mar. 18, 2015 USD ($) ft²	Jan. 20, 2015 USD ($) LimitedPartners	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Business Acquisition [Line Items]
Mortgages payable, net						$ 9,513,713	$ 8,187,843
Lease expiration term						30 years
Operating Partnership Units Value						$ 80,000	$ 0	$ 0
Retail Properties [Member] \| 265 West 34th Street [Member]
Business Acquisition [Line Items]
Square Footage Of Real Estate Property \| ft²	1,700
Business Acquisition Cost Of Acquired Entity	$ 28,500
Area Of Additional Zoning Air Rights \| ft²	15,200
Office Building [Member] \| 260 11th Avenue [Member]
Business Acquisition [Line Items]
Square Footage Of Real Estate Property \| ft²		235,000
Lease Expiration Date		2021
Area Of Parking Lot And Additional Air Rights \| ft²		10,000
Number Of Market Renewal Options \| RenewalOptions		2
Term Of Market Renewal Options		5 years
Lease expiration term		99 years
Purchase Options, Land		$ 110,000
Annual ground rent		$ 3,900
Inflation Rate Agreement For Calculating Annual Ground Rent And Purchase Price Option		Annual ground rent and the purchase option price escalate annually at the lesser of 1.5% or CPI
Operating partnership units issued \| shares		813,900
Operating Partnership Units Value		$ 80,000
Center Building [Member] \| Office Building [Member]
Business Acquisition [Line Items]
Square Footage Of Real Estate Property \| ft²				437,000
Business Acquisition Cost Of Acquired Entity				$ 142,000
Mortgages payable, net				$ 62,000
Interest Rate, End of Period (in percentage)				4.43%
Debt Instrument Maturity				October 2018
Crowne Plaza Time Square Hotel [Member]
Business Acquisition [Line Items]
Equity method ownership percentage					33.00%		11.00%
Crowne Plaza Time Square Hotel [Member] \| Real Estate Fund [Member]
Business Acquisition [Line Items]
Number Of Limited Partners \| LimitedPartners					1
Crowne Plaza Time Square Hotel [Member] \| Real Estate Fund Joint Venture [Member]
Business Acquisition [Line Items]
Equity method ownership percentage					57.00%
Business Acquisition Cost Of Acquired Entity					$ 95,000
Mortgages payable, net					$ 310,000
Debt Instrument Maturity					December 2018
150 West 34th Street [Member] \| Retail Properties [Member]
Business Acquisition [Line Items]
Square Footage Of Real Estate Property \| ft²			78,000
Business Acquisition Cost Of Acquired Entity			$ 355,000
Mortgages payable, net			$ 205,000
Lease Expiration Date			May 2019
Area Of Additional Zoning Air Rights \| ft²			226,000

Marketable Securities and Derivative Instruments (Narratives) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative [Line Items]
Proceeds from sales of, and return of investment in, marketable securities	$ 0	$ 0	$ 378,709
Other Investments [Member]
Derivative [Line Items]
Marketable Securities Gain			31,741
Proceeds from sales of, and return of investment in, marketable securities			$ 44,209

Marketable Securities and Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Equity Securities	$ 150,997	$ 206,323
Available-for-sale Equity Securities, Amortized Cost Basis	72,549	72,549
Available-for-sale Securities, Gross Unrealized Gain	78,448	133,774
Lexington Realty Trust [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Equity Securities	147,752	202,789
Available-for-sale Equity Securities, Amortized Cost Basis	72,549	72,549
Available-for-sale Securities, Gross Unrealized Gain	75,203	130,240
Other Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Equity Securities	3,245	3,534
Available-for-sale Equity Securities, Amortized Cost Basis	0	0
Available-for-sale Securities, Gross Unrealized Gain	$ 3,245	$ 3,534

Investments in Partially Owned Entities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Nov. 01, 2014	Dec. 31, 2013	Nov. 02, 2013	Mar. 31, 2015	Sep. 30, 2014
Equity Method Investments And Income From Equity Method Investments [Abstract]
Non cash impairment losses			$ (85,459)		$ (281,098)
Carrying amount of investments in partially owned entities		$ 1,550,422	1,240,489		1,159,803
Our share of Net (Loss) Income		(12,630)	(59,861)		(340,882)
Non-cash impairment losses		0	0		72,974
Impairment Losses		256	26,518		37,170
Condensed Financial Information For Equity Method Investments [Abstract]
Assets		25,526,000	21,389,000
Liabilities		21,162,000	17,986,000
Noncontrolling interests		146,000	104,000
Equity		4,218,000	3,299,000
Total revenue		13,423,000	13,620,000		14,092,000
Net (loss) income attributable to investee		$ (224,000)	(434,000)		(368,000)
Toys R Us [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Equity method ownership percentage		32.50%
Equity in net income (loss)		$ 0	(4,691)		(128,919)
Non cash impairment losses	$ 75,196	0	(75,196)		(240,757)
Management fees		2,500	6,331		7,299
Carrying amount of investments in partially owned entities		0	0					$ 0
Our share of Net (Loss) Income	$ 75,196	$ 2,500	(73,556)		(362,377)
Condensed Financial Information For Equity Method Investments [Abstract]
Assets				$ 11,267,000
Liabilities				10,377,000
Noncontrolling interests				82,000
Equity				808,000
Total revenue				12,645,000		$ 13,046,000
Net (loss) income attributable to investee				$ (343,000)		$ (396,000)
Alexanders Inc [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Equity method ownership percentage		32.40%
Equity in net income (loss)		$ 24,209	21,287		17,721
Management, leasing and development fees		6,869	8,722		6,681
Carrying amount of investments in partially owned entities		133,568	131,616
Excess of investee's carrying amount over equity in net assets		40,340
Our share of Net (Loss) Income		31,078	30,009		24,402
India real estate ventures [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Non cash impairment losses		14,806	5,771
Carrying amount of investments in partially owned entities		48,310	76,752
Our share of Net (Loss) Income		$ (18,746)	(8,309)		(3,533)
India real estate ventures [Member] \| Minimum [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Equity method ownership percentage		4.10%
India real estate ventures [Member] \| Maximum [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Equity method ownership percentage		36.50%
India real estate ventures [Member] \| Tcg Urban Infrastructure Holdings [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Equity method ownership percentage		25.00%
Partially owned office buildings [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Carrying amount of investments in partially owned entities		$ 909,782	760,749
Our share of Net (Loss) Income		(23,556)	93		(4,212)
Partially owned office buildings [Member] \| Joint Venture [Member]
Condensed Financial Information For Equity Method Investments [Abstract]
Equity		0
Partially owned office buildings [Member] \| 666 Fifth Avenue [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Our share of Net (Loss) Income		(39,600)
Partially owned office buildings [Member] \| 650 Madison Avenue [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Write off of below market lease liability		$ 12,800
Partially owned office buildings [Member] \| West 57th Street [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Our share of accelerated depreciation			14,500
Urban Edge Properties [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Equity method ownership percentage		5.40%
Equity in net income (loss)		$ 2,430	0		0
Management fees		1,964	0		0
Carrying amount of investments in partially owned entities		25,351	0
Our share of Net (Loss) Income		$ 4,394	0		0
PREIT Associates [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Equity method ownership percentage		8.10%					8.10%
Carrying amount of investments in partially owned entities		$ 133,375	0
Excess of investee's carrying amount over equity in net assets		65,404
Our share of Net (Loss) Income		(7,450)	0		0
LNR [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Our share of Net (Loss) Income		0	0		18,731
Non-cash impairment losses					27,231
Condensed Financial Information For Equity Method Investments [Abstract]
Net (loss) income attributable to investee					18,731
LNR [Member] \| Net gain on sale [Member]
Condensed Financial Information For Equity Method Investments [Abstract]
Net (loss) income attributable to investee					3,776
LNR [Member] \| Equity In Net Income After Income Taxes [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Our share of Net (Loss) Income					42,186
Lexington Realty Trust [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Our share of Net (Loss) Income		0	0		(979)
Other equity method investments [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Carrying amount of investments in partially owned entities		300,036	271,372
Our share of Net (Loss) Income		(850)	(8,098)		(12,914)
Other equity method investments [Member] \| Suffolk Downs [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Non-cash impairment losses			10,263
Impairment Losses			5,959
Asset Impairment Loan Loss Reserve			4,304
All Equity Method Investees Excluding Toys [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Our share of Net (Loss) Income		$ (12,630)	$ (59,861)		$ (340,882)

Investments in Partially Owned Entities (Alexander's Inc.) (Details)			12 Months Ended
	Jan. 15, 2015 USD ($) Properties	Dec. 22, 2014 USD ($)	Dec. 31, 2015 USD ($) $ / shares $ / ft² shares	Dec. 31, 2014 USD ($) Properties	Dec. 31, 2013 USD ($)
Managment And Development Agreement [Abstract]
Cash Considerations Transferred During Spin Off			$ 225,000,000	$ 0	$ 0
Urban Edge Properties [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Closing share price (in dollars per share) \| $ / shares			$ 23.45
Equity Method Investment Market Value			$ 134,068,000
Excess of investee's fair value over carrying amount			$ 108,717,000
Urban Edge Properties [Member] \| Discontinued Operations [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Equity method ownership percentage	5.40%
Managment And Development Agreement [Abstract]
Cash Considerations Transferred During Spin Off	$ 225,000,000
Retail Segment Strip Shopping Centers [Member] \| Discontinued Operations [Member]
Managment And Development Agreement [Abstract]
Number Of Real Estate Properties \| Properties				22
Retail Segment Strip Shopping Centers [Member] \| Urban Edge Properties [Member] \| Discontinued Operations [Member]
Managment And Development Agreement [Abstract]
Number Of Real Estate Properties \| Properties	79
Retail Segment Regional Malls [Member] \| Urban Edge Properties [Member] \| Discontinued Operations [Member]
Managment And Development Agreement [Abstract]
Number Of Real Estate Properties \| Properties	3
Warehouse [Member] \| Urban Edge Properties [Member] \| Discontinued Operations [Member]
Managment And Development Agreement [Abstract]
Number Of Real Estate Properties \| Properties	1
Alexanders Inc [Member]
Equity Method Investments And Income From Equity Method Investments [Abstract]
Ownership common shares, investee (in shares) \| shares			1,654,068
Equity method ownership percentage			32.40%
Closing share price (in dollars per share) \| $ / shares			$ 384.11
Equity Method Investment Market Value			$ 635,345,000
Excess of investee's fair value over carrying amount			501,777,000
Excess of investee's carrying amount over equity in net assets			$ 40,340,000
Managment And Development Agreement [Abstract]
Property Management Fee Description			We receive an annual fee for managing Alexander’s and all of its properties equal to the sum of (i) $2,800,000, (ii) 2% of the gross revenue from the Rego Park II Shopping Center, (iii) $0.50 per square foot of the tenant-occupied office and retail space at 731 Lexington Avenue, and (iv) $289,000, escalating at 3% per annum, for managing the common area of 731 Lexington Avenue.
Management and Development fee income			$ 2,800,000
Development Fee Percent			6.00%
Leasing Agreement [Abstract]
Leasing Services Fee Description			leasing services for a fee of 3% of rent for the first ten years of a lease term, 2% of rent for the eleventh through twentieth year of a lease term and 1% of rent for the twenty-first through thirtieth year of a lease term, subject to the payment of rents by Alexander’s tenants. In the event third-party real estate brokers are used, our fee increases by 1% and we are responsible for the fees to the third-parties.
Lease Fee Percentage Of Rent One To Ten Years			3.00%
Lease Fee Percentage Of Rent Eleven To Twenty Years			2.00%
Lease Fee Percentage Of Rent Twenty First To Thirty Years			1.00%
Percentage Increase Lease Fee If Broker Used			1.00%
Asset Sale Commission Threshold			$ 50,000,000
Percentage Commissions On Sale Of Assets Under Fifty Million			3.00%
Percentage Commissions On Sale Of Assets Over Fifty Million			1.00%
Leasing Services Fee And Commission On Asset Sales Annual Installment Eliminated		$ 4,000,000
Repayment of Alexander's Inc. leasing commissions		$ 40,353,000
Other Agreements [Abstract]
Fee Income recognized by equity method investees for building maintenance services			$ 2,221,000	$ 2,318,000	$ 2,036,000
Other Financial Data For Equity Method Investments [Abstract]
Commission On Asset Sales Description			commission upon the sale of any of Alexander’s assets equal to 3% of gross proceeds, as defined, for asset sales less than $50,000,000, and 1% of gross proceeds, as defined, for asset sales of $50,000,000 or more.
Alexanders Inc [Member] \| Rego Park 2 Property [Member]
Managment And Development Agreement [Abstract]
Property Management Fee Agreement Percentage Of Income			2.00%
Alexanders Inc [Member] \| Lexington Avenue 731 [Member]
Managment And Development Agreement [Abstract]
Property Management Fee Agreement Price Per Square Foot \| $ / ft²			0.50
Alexanders Inc [Member] \| Common Area 731 Lexington Avenue [Member]
Managment And Development Agreement [Abstract]
Management and Development fee income			$ 289,000
Property Management Fee Agreement Escalation Percentage Of Income			3.00%

Investments in Partially Owned Entities (Urban Edge Properties and PREIT Associates L.P.) (Details) $ / shares in Units, ft² in Thousands	Mar. 31, 2015 USD ($) ft² $ / shares shares	Jan. 15, 2015 shares	Mar. 02, 2014 USD ($) ft² $ / shares shares	Dec. 31, 2015 USD ($) $ / shares	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Schedule Of Equity Method Investments [Line Items]
Operating Partnership Units Value				$ 80,000,000	$ 0	$ 0
Pennsylvania Real Estate Investment Trust [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage	8.10%			8.10%
Closing share price (in dollars per share) \| $ / shares				$ 21.87
Equity Method Investment fair Value				$ 136,688,000
Excess of investee's fair value over carrying amount				3,313,000
Excess of investee's carrying amount over equity in net assets				$ 65,404,000
Springfield Mall [Member] \| Pennsylvania Real Estate Investment Trust [Member] \| Discontinued Operations, Disposed of by Sale [Member]
Schedule Of Equity Method Investments [Line Items]
Operating Partnership Units Received From Buyer \| shares	6,250,000		6,250,000
Square Footage Of Real Estate Property \| ft²	1,350		1,350
Gross proceeds from sale of real estate	$ 485,313,000		$ 485,313,000
Cash Proceeds from sale of real estate	340,000,000		340,000,000
Operating Partnership Units Value	$ 145,313,000		$ 145,313,000
Operating Partnership Unis Value Per Unit \| $ / shares	$ 23.25		$ 23.25
Payments for tenant improvements and allowances	$ 19,000,000
Urban Edge Properties [Member]
Schedule Of Equity Method Investments [Line Items]
Operating Partnership Units Received From Buyer \| shares		5,717,184
Closing share price (in dollars per share) \| $ / shares				$ 23.45
Equity Method Investment fair Value				$ 134,068,000
Excess of investee's fair value over carrying amount				$ 108,717,000
Urban Edge Properties [Member] \| Discontinued Operations, Disposed of by Sale [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage		5.40%
Urban Edge Properties [Member] \| Maximum [Member]
Schedule Of Equity Method Investments [Line Items]
Duration Of Administrative Services		2 years
Urban Edge Properties [Member] \| Maximum [Member] \| Discontinued Operations, Disposed of by Sale [Member]
Schedule Of Equity Method Investments [Line Items]
Duration Of Administrative Services		2 years

Investments in Partially Owned Entities (512 West 22nd Street) (Details) ft² in Thousands, $ in Thousands	Nov. 24, 2015 USD ($) Extensions	Jun. 24, 2015 USD ($) ft²	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Schedule Of Equity Method Investments [Line Items]
Notes And Loans Payable			$ 9,513,713	$ 8,187,843
512 West 22nd Street [Member]
Schedule Of Equity Method Investments [Line Items]
Debt Instrument Maturity	November 2019
Number Of Extensions Available \| Extensions	2
Length Of Extension Available	6 months
Debt Instrument, Description of Variable Rate Basis	LIBOR
Spread Over LIBOR (in percentage)	2.65%
Interest Rate, End of Period (in percentage)			3.07%
512 West 22nd Street [Member] \| Office Building [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage		55.00%
Square Footage Of Real Estate Property \| ft²		173
Estimated Development Cost		$ 235,000
Project Start Date		Fourth Quarter of 2015
Estimated Project Completion Date		2018
512 West 22nd Street [Member] \| Vornado Realty Trust [Member]
Schedule Of Equity Method Investments [Line Items]
Notes And Loans Payable			$ 24,240
512 West 22nd Street [Member] \| Joint Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Notes And Loans Payable	$ 126,000		$ 44,072

Investments in Partially Owned Entities - Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Schedule Of Equity Method Investments [Line Items]
Equity Method Investment Pro Rata Share Debt Of Partially Owned Entities	$ 4,432,078		$ 4,190,428
Toys R Us [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage	32.50%
Maturity, Range, Start	2016
Maturity, Range, End	2021
Interest Rate, End of Period (in percentage)	7.35%
Equity Method Investment Debt Of Partially Owned Entities	$ 5,619,710		5,748,350
Partially owned office buildings [Member]
Schedule Of Equity Method Investments [Line Items]
Maturity, Range, Start	2016
Maturity, Range, End	2023
Interest Rate, End of Period (in percentage)	5.57%
Equity Method Investment Debt Of Partially Owned Entities	$ 3,771,255		3,691,274
PREIT Associates [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage	8.10%	8.10%
Maturity, Range, Start	2016
Maturity, Range, End	2025
Interest Rate, End of Period (in percentage)	4.04%
Equity Method Investment Debt Of Partially Owned Entities	$ 1,852,270		0
Urban Edge Properties [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage	5.40%
Maturity, Range, Start	2018
Maturity, Range, End	2034
Interest Rate, End of Period (in percentage)	4.15%
Equity Method Investment Debt Of Partially Owned Entities	$ 1,246,155		0
Alexanders Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage	32.40%
Maturity, Range, Start	2016
Maturity, Range, End	2022
Interest Rate, End of Period (in percentage)	1.69%
Equity Method Investment Debt Of Partially Owned Entities	$ 1,053,262		1,032,780
India real estate ventures [Member] \| Tcg Urban Infrastructure Holdings [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method ownership percentage	25.00%
Maturity, Range, Start	2016
Maturity, Range, End	2026
Interest Rate, End of Period (in percentage)	12.06%
Equity Method Investment Debt Of Partially Owned Entities	$ 185,607		183,541
Other equity method investments [Member]
Schedule Of Equity Method Investments [Line Items]
Maturity, Range, Start	2016
Maturity, Range, End	2023
Interest Rate, End of Period (in percentage)	4.27%
Equity Method Investment Debt Of Partially Owned Entities	$ 1,316,641		$ 1,314,077

Dispositions (Narratives) (Details) $ / shares in Units, ft² in Thousands																3 Months Ended		12 Months Ended
	Mar. 31, 2018 USD ($)	Dec. 22, 2015 USD ($) ft²	Sep. 09, 2015 USD ($) ft²	Aug. 06, 2015 USD ($)	Mar. 31, 2015 USD ($) ft² $ / shares shares	Mar. 13, 2015 USD ($)	Jan. 15, 2015 USD ($) Properties shares	Dec. 18, 2014 USD ($) ft²	Jul. 08, 2014 USD ($) ft²	Mar. 02, 2014 USD ($) ft² $ / shares shares	Feb. 24, 2014 USD ($)	Dec. 17, 2013 USD ($) ft²	Sep. 23, 2013 USD ($)	Apr. 15, 2013 USD ($)	Jan. 24, 2013 USD ($)	Mar. 31, 2015 USD ($) ft² $ / shares	Mar. 31, 2014 USD ($)	Dec. 31, 2015 USD ($) Properties	Dec. 31, 2014 USD ($) Properties	Dec. 31, 2013 USD ($) Properties
Dispositions [Abstract]
Income from discontinued operations																		$ 52,262,000	$ 585,676,000	$ 568,095,000
Net gains on sale of real estate																		65,396,000	507,192,000	414,502,000
Cash Considerations Transferred During Spin Off (in US Dollars)																		225,000,000	0	0
Gain on sale of interest in leases																		0	0	1,377,000
Operating Partnership Units Value																		80,000,000	0	0
Impairment Losses																		$ 256,000	26,518,000	37,170,000
Pennsylvania Real Estate Investment Trust [Member]
Dispositions [Abstract]
Equity method ownership percentage					8.10%											8.10%		8.10%
Strip Shopping Centers [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Net gains on sale of real estate																			$ 22,500,000
Number Of Real Estate Properties \| Properties																			22
Number Of Real Estate Properties Sold \| Properties																			6
Cash Proceeds from sale of real estate																			$ 66,410,000
Springfield Mall [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Net gains on sale of real estate					$ 7,823,000											$ 7,192,000
Deferred Gain on Sale of Property					$ 631,000											$ 631,000
Impairment Losses																	$ 20,000,000
Springfield Mall [Member] \| Pennsylvania Real Estate Investment Trust [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Square Footage Of Real Estate Property \| ft²					1,350					1,350						1,350
Gross proceeds from the sale of real estate					$ 485,313,000					$ 485,313,000
Cash Proceeds from sale of real estate					$ 340,000,000					$ 340,000,000
Operating Partnership Units Received From Buyer \| shares					6,250,000					6,250,000
Operating Partnership Units Value					$ 145,313,000					$ 145,313,000						$ 145,313,000
Operating Partnership Unis Value Per Unit \| $ / shares					$ 23.25					$ 23.25						$ 23.25
Impairment Losses																	$ 20,000,000
Springfield Mall [Member] \| Scenario Forecast [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Additional Consideration Receivable Percent	50.00%
Additional Consideration Theshold, Value	$ 465,000,000
Capitalization rate	5.50%
Geary Street, CA [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Proceeds from Sale of interest in leases						$ 34,189,000
Gain on sale of interest in leases						$ 21,376,000
Monmouth Mall [Member] \| Regional Malls [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Gross proceeds from the sale of real estate				$ 38,000,000
Net gains on sale of real estate				33,153,000
Market value of the property sold				$ 229,000,000
Sale Of Ownership Interest Percent				50.00%
Residual Retail Properties [Member]
Dispositions [Abstract]
Net gains on sale of real estate																		$ 3,675,000
Number Of Real Estate Properties Sold \| Properties																		5
Cash Proceeds from sale of real estate																		$ 10,731,000
Urban Edge Properties [Member]
Dispositions [Abstract]
Operating Partnership Units Received From Buyer \| shares							5,717,184
Urban Edge Properties [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Cash Considerations Transferred During Spin Off (in US Dollars)							$ 225,000,000
Equity method ownership percentage							5.40%
Urban Edge Properties [Member] \| Warehouse [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Number Of Real Estate Properties \| Properties							1
Urban Edge Properties [Member] \| Strip Shopping Centers [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Number Of Real Estate Properties \| Properties							79
Urban Edge Properties [Member] \| Regional Malls [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Number Of Real Estate Properties \| Properties							3
Retail Properties Segment [Member] \| Strip Shopping Centers [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Net gains on sale of real estate																				$ 7,851,000
Number Of Real Estate Properties Sold \| Properties																				12
Cash Proceeds from sale of real estate																				$ 82,300,000
Retail Properties Segment [Member] \| Retail NY Hicksville (Broadway Mall) [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Gross proceeds from the sale of real estate											$ 94,000,000
Net proceeds from the sale of real estate											$ 92,174,000
Retail Properties Segment [Member] \| Retail CA Los Angeles Beverly Connection [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Square Footage Of Real Estate Property \| ft²									335
Gross proceeds from the sale of real estate									$ 260,000,000
Net gains on sale of real estate									44,155,000
Cash Proceeds from sale of real estate									239,000,000
Mortgage loan receivable									$ 21,000,000
Mortgage loan receivable maturity tenure									10 years
Retail Properties Segment [Member] \| Green Acres Mall [Member] \| Regional Malls [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Gross proceeds from the sale of real estate															$ 500,000,000
Net gains on sale of real estate															202,275,000
Net proceeds from the sale of real estate															$ 185,000,000
Retail Properties Segment [Member] \| Plant [Member] \| Strip Shopping Centers [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Gross proceeds from the sale of real estate														$ 203,000,000
Net gains on sale of real estate														32,169,000
Net proceeds from the sale of real estate														98,000,000
Retail Properties Segment [Member] \| Gallery At Market Street [Member] \| Strip Shopping Centers [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Gross proceeds from the sale of real estate														60,000,000
Net gains on sale of real estate														33,058,000
Net proceeds from the sale of real estate														$ 58,000,000
Retail Properties Segment [Member] \| Tampa Florida [Member] \| Strip Shopping Centers [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Gross proceeds from the sale of real estate													$ 45,000,000
Retail Properties Segment [Member] \| Tampa Florida [Member] \| Strip Shopping Centers [Member] \| Vornado Realty Trust [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Gross proceeds from the sale of real estate													33,750,000
Net gains on sale of real estate													8,728,000
Net proceeds from the sale of real estate													$ 20,810,000
Sale Of Ownership Interest Percent													75.00%
Washington DC Segment [Member] \| 1750 Pennsylvania Avenue [Member] \| Office Building [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Square Footage Of Real Estate Property \| ft²			278
Gross proceeds from the sale of real estate			$ 182,000,000
Net gains on sale of real estate			102,000,000
Deferred Tax Gain On Sale Of Real Estate			$ 137,000,000
Other Segment [Member]
Dispositions [Abstract]
Income from discontinued operations																		$ 52,262,000	$ 122,513,000	$ 407,781,000
New York Segment [Member] \| 20 Broad Street [Member] \| Office Building [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Square Footage Of Real Estate Property \| ft²		473
Gross proceeds from the sale of real estate		$ 200,000,000
Income from discontinued operations		157,000,000
Net gains on sale of real estate		142,000,000
Lease termination income		$ 15,000,000
New York Segment [Member] \| 1740 Broadway [Member] \| Office Building [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Square Footage Of Real Estate Property \| ft²								601
Gross proceeds from the sale of real estate								$ 605,000,000
Net gains on sale of real estate								441,000,000
Net proceeds from the sale of real estate								580,000,000
Income tax on gain on sale								$ 484,000,000
New York Segment [Member] \| 866 UN Plaza [Member] \| Discontinued Operations [Member]
Dispositions [Abstract]
Square Footage Of Real Estate Property \| ft²												360
Gross proceeds from the sale of real estate												$ 200,000,000
Net gains on sale of real estate												127,512,000
Net proceeds from the sale of real estate												$ 146,439,000

Dispositions (Details 1) - USD ($) $ in Thousands	12 Months Ended
Dispositions (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Dispositions [Abstract]
Real Estate, Net	$ 29,561	$ 2,028,677
Other Assets	7,459	205,451
Assets related to discontinued operations	37,020	2,234,128
Mortgages Payable, net	0	1,278,182
Other Liabilities (primarily deferred revenue in 2014)	12,470	222,827
Liabilities related to discontinued operations	12,470	1,501,009
Income from discontinued operations:
Total revenues	27,831	395,786	$ 502,061
Total expenses	17,651	274,107	310,364
Income from discontinued operations before gain on sale of real estate	10,180	121,679	191,697
Net gains on sale of real estate	65,396	507,192	414,502
Transaction related costs (primarily UE Spin off)	(22,972)	(14,956)	0
Impairment losses	(256)	(26,518)	(37,170)
Net gain on sale of asset other than real estate	0	0	1,377
Pretax income from discontinued operations	52,348	587,397	570,406
Income tax expense	(86)	(1,721)	(2,311)
Income from Discontinued Operations	52,262	585,676	568,095
Cash flows related to discontinued Operations:
Cash flows from operating activities, discontinued operations	(33,462)	123,837	279,436
Cash flows from investing activities, discontinued operations	$ 346,865	$ (180,019)	$ (117,497)

Identified Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 415,261	$ 424,976
Accumulated amortization	(187,360)	(199,821)
Net	227,901	225,155
Gross amount	643,488	657,976
Accumulated amortization	(325,340)	(329,775)
Net	318,148	328,201
Below Market Leases Net Of Above Market Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	78,749	37,516	$ 41,970
2016	52,359
2017	44,501
2018	43,028
2019	31,011
2020	23,320
Other Identified Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	36,659	28,275	61,915
2016	29,349
2017	24,427
2018	20,063
2019	15,779
2020	12,345
Tenant Under Ground Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	1,832	$ 1,832	$ 2,745
2016	1,832
2017	1,832
2018	1,832
2019	1,832
2020	$ 1,832

Debt (Narratives) (Details) ft² in Thousands							1 Months Ended		3 Months Ended	12 Months Ended
Debt (Narratives) (Details) ft² in Thousands	Dec. 21, 2015 USD ($) Extensions	Dec. 11, 2015 USD ($) ft²	Oct. 30, 2015 USD ($) Extensions	Sep. 22, 2015 USD ($)	Jul. 28, 2015 USD ($) ft²	Jun. 02, 2015 USD ($) Extensions	Apr. 30, 2015 USD ($) Properties ResidentialUnits	Jan. 31, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Debt Instrument [Line Items]
Net proceeds from borrowings										$ 4,468,872,000	$ 2,428,285,000	$ 2,262,245,000
Mortgages payable, net										9,513,713,000	8,187,843,000
Revolving credit facilities										$ 550,000,000	$ 0
770 Broadway [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)										5.65%
Debt Instrument Maturity										March 2016
Mortgages payable, net										$ 353,000,000
Secured Debt [Member] \| 220 Central Park South [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)										2.42%
Debt Instrument, Description of Variable Rate Basis				LIBOR
Spread Over LIBOR (in percentage)				2.00%
Debt Instrument Maturity				2020
Mortgages payable, net				$ 950,000,000
Increase in loan amount				350,000,000
Mezzanine loan financing (in US Dollars)				500,000,000
Mezzanine loan contract termination fee				$ 15,000,000
Secured Debt [Member] \| St. Regis Hotel [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)										2.19%
Debt Instrument Maturity	December 2020
Mortgages payable, net	$ 450,000,000
Number Of Extensions Available \| Extensions	2
Length Of Extension Available	1 year
Secured Debt [Member] \| St. Regis Hotel [Member] \| Joint Venture [Member]
Debt Instrument [Line Items]
Equity method ownership percentage	74.30%
Secured Debt [Member] \| St. Regis Hotel [Member] \| First Three Years [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR
Spread Over LIBOR (in percentage)	1.80%
Secured Debt [Member] \| St. Regis Hotel [Member] \| Year Four And Five [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR
Spread Over LIBOR (in percentage)	1.90%
Secured Debt [Member] \| St. Regis Hotel [Member] \| Remaining Extension Periods [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR
Spread Over LIBOR (in percentage)	2.00%
Secured Debt [Member] \| 888 Seventh Avenue [Member] \| Office [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)										1.92%
Notes And Loans Payable Refinanced Amount (in US Dollars)		$ 375,000,000
Debt Instrument, Description of Variable Rate Basis		LIBOR
Spread Over LIBOR (in percentage)		1.60%
Debt Instrument Maturity		December 2020
Net proceeds from borrowings		$ 49,000,000
Square Footage Of Real Estate Property \| ft²		882
Debt Term		5 years
Secured Debt [Member] \| 888 Seventh Avenue [Member] \| Office [Member] \| Fixed Rate [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)		3.15%
Secured Debt [Member] \| 100 West 33rd Street [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)										1.92%
Notes And Loans Payable Refinanced Amount (in US Dollars)					$ 580,000,000
Debt Instrument, Description of Variable Rate Basis					LIBOR
Spread Over LIBOR (in percentage)					1.65%
Debt Instrument Maturity					July 2020
Net proceeds from borrowings					$ 242,000,000
Square Footage Of Real Estate Property \| ft²					1,100
Secured Debt [Member] \| 100 West 33rd Street [Member] \| Office [Member]
Debt Instrument [Line Items]
Square Footage Of Real Estate Property \| ft²					855
Secured Debt [Member] \| 100 West 33rd Street [Member] \| Manhattan Mall [Member]
Debt Instrument [Line Items]
Square Footage Of Real Estate Property \| ft²					256
Secured Debt [Member] \| RiverHouse Apartments [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)										1.52%
Notes And Loans Payable Refinanced Amount (in US Dollars)							$ 308,000,000
Number Of Apartment Buildings \| Properties							3
Number Of Units \| ResidentialUnits							1,670
Debt Instrument, Description of Variable Rate Basis							LIBOR
Spread Over LIBOR (in percentage)							1.28%
Debt Instrument Maturity							2025
Net proceeds from borrowings							$ 43,000,000
Secured Debt [Member] \| RiverHouse Apartments [Member] \| Mortgages Maturing April 2015 [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)									5.43%
Debt Instrument Maturity									April 2015
Mortgages payable, net									$ 195,000,000
Secured Debt [Member] \| RiverHouse Apartments [Member] \| Mortgages Maturing 2018 [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis									LIBOR
Spread Over LIBOR (in percentage)									1.53%
Debt Instrument Maturity									2018
Mortgages payable, net									$ 64,000,000
Secured Debt [Member] \| 150 West 34th Street [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)										2.52%
Debt Instrument, Description of Variable Rate Basis						LIBOR
Spread Over LIBOR (in percentage)						2.25%
Debt Instrument Maturity						2018
Mortgages payable, net						$ 205,000,000
Number Of Extensions Available \| Extensions						2
Length Of Extension Available						1 year
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)										3.68%
Unsecured Term Loan [Member]
Debt Instrument [Line Items]
Interest Rate, End of Period (in percentage)										1.40%
Debt Instrument, Description of Variable Rate Basis			LIBOR
Spread Over LIBOR (in percentage)			1.15%
Debt Instrument Maturity			October 2018
Number Of Extensions Available \| Extensions			2
Length Of Extension Available			1 year
Usecured term loan, maximum borrowing capacity			$ 750,000,000
Facility Fee (in percentage)			0.20%
Revolving credit facilities			$ 187,500,000
Unsecured term loan, description			The facility provides that the maximum amount available is twice the amount outstanding on April 29, 2016, limited to $750,000,000, and all draws must be made by October 2017.
Unsecured Debt Final Withdrawal Date			October 2017
Senior Unsecured Notes 4.25% [Member]
Debt Instrument [Line Items]
Redemption of senior unsecured notes								$ 500,000,000
Interest Rate, End of Period (in percentage)								4.25%
Redemption Price, Percentage of Principal Amount Redeemed								100.00%
Debt Instrument Maturity								April 1, 2015

Debt (Summary of Debt) (Details) - USD ($)	Dec. 31, 2015	Oct. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Deferred financing costs, net and other	$ (7,720,000)		$ (11,549,000)
Total, net	9,513,713,000		8,187,843,000
Unsecured debt, net	844,159,000		1,342,494,000
Unsecured term loan, net	183,138,000		0
Revolving credit facilities	550,000,000		0
Unsecured Debt And Revolving Credit Facility	1,577,297,000		1,342,494,000
Debt Fiscal Year Maturity [Abstract]
Collateral Property Net Carrying Value	9,600,000,000
Mortgages Payable [Member]
Debt Instrument [Line Items]
Mortgages payable, gross	9,614,838,000		8,261,055,000
Deferred financing costs, net and other	$ (101,125,000)		(73,212,000)
Interest Rate, End of Period (in percentage)	3.56%
Debt Fiscal Year Maturity [Abstract]
2016	$ 1,095,366,000
2017	411,113,000
2018	441,354,000
2019	379,122,000
2020	2,835,451,000
Thereafter	4,452,432,000
Mortgages Payable [Member] \| Fixed Rate [Member]
Debt Instrument [Line Items]
Mortgages payable, gross	$ 6,356,634,000		6,497,286,000
Interest Rate, End of Period (in percentage)	4.29%
Mortgages Payable [Member] \| Variable Rate [Member]
Debt Instrument [Line Items]
Mortgages payable, gross	$ 3,258,204,000		1,763,769,000
Interest Rate, End of Period (in percentage)	2.14%
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Deferred financing costs, net and other	$ (5,841,000)		(7,506,000)
Unsecured debt, gross	$ 850,000,000		1,350,000,000
Interest Rate, End of Period (in percentage)	3.68%
Term Loan [Member]
Debt Instrument [Line Items]
Deferred financing costs, net and other	$ (4,362,000)		0
Unsecured debt, gross	$ 187,500,000		0
Revolving credit facilities		$ 187,500,000
Interest Rate, End of Period (in percentage)	1.40%
Unsecured Revolving Credit Facilities [Member]
Debt Instrument [Line Items]
Revolving credit facilities	$ 550,000,000		$ 0
Interest Rate, End of Period (in percentage)	1.38%
Senior Unsecured Debt And Unsecured Revolving Credit Facilities [Member]
Debt Fiscal Year Maturity [Abstract]
2016	$ 550,000,000
2017	0
2018	0
2019	450,000,000
2020	187,500,000
Thereafter	$ 400,000,000

Redeemable Noncontrolling Interests (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Redeemable Noncontrolling Interest Units Table [Abstract]
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount	$ 1,223,793	$ 1,336,780
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount	5,428	1,000
Redeemable Noncontrolling Interests Rollforward [Abstract]
Reedemable Noncontrolling Interest, Beginning Balance	1,337,780	1,003,620
Net income	43,231	47,613	$ 24,817
Other comprehensive income	(2,866)	1,323	5,296
Distributions	(30,263)	(33,469)
Other, net	37,605	30,690
Reedemable Noncontrolling Interest, Ending Balance	1,229,221	1,337,780	$ 1,003,620
Common Class A [Member]
Redeemable Noncontrolling Interest Units Table [Abstract]
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount	$ 1,223,793	$ 1,336,780
Outstanding Partnership Units held by Third Parties	12,242,820	11,356,550
Preferred Or Annual Distribution Rate (in dollars per share)	$ 2.52
Redeemable Noncontrolling Interests Rollforward [Abstract]
Redemption of Class A units for common shares, at redemption value	$ (48,230)	$ (27,273)
Adjustments to carry redeemable Class A units at redemption value	(192,464)	315,276
Issuance of Units	80,000
Series D16 Cumulative Redeemable Preferred Unit [Member]
Redeemable Noncontrolling Interest Units Table [Abstract]
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount	$ 1,000	$ 1,000
Outstanding Partnership Units held by Third Parties	1	1
Par or Stated Value Per Share	$ 1,000,000.00
Preferred Or Annual Distribution Rate (in dollars per share)	$ 50,000.00
Dividend Percentage	5.00%
Series D17 Cumulative Redeemable Preferred Unit [Member]
Redeemable Noncontrolling Interest Units Table [Abstract]
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount	$ 4,428	$ 0
Outstanding Partnership Units held by Third Parties	177,100	0
Par or Stated Value Per Share	$ 25.00
Preferred Or Annual Distribution Rate (in dollars per share)	$ 0.8125
Dividend Percentage	3.25%
Redeemable Noncontrolling Interests Rollforward [Abstract]
Issuance of Units	$ 4,428
Cumulative Redeemable Preferred Unit [Member]
Redeemable Noncontrolling Interest Units Table [Abstract]
Outstanding Partnership Units held by Third Parties	177,101	1
Redeemable Noncontrolling Interests Additional Disclosure [Abstract]
Fair value of Series G convertible preferred units and Series D-13 cumulative redeemable preferred units	$ 50,561	$ 55,097

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Common Stock Number Of Shares Par Value And Other Disclosures [Abstract]
Common shares of beneficial interest: outstanding shares	188,576,853				188,576,853	187,887,498
Dividends paid on common shares					$ 474,751	$ 547,831	$ 545,913
Dividends per common share	$ 0.63	$ 0.63	$ 0.63	$ 0.63
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred shares of beneficial interest: issued shares	52,676,629				52,676,629	52,678,939
Details Of Preferred Shares Of Beneficial Interest [Abstract]
Preferred Stock, Value	$ 1,276,954				$ 1,276,954	$ 1,277,026
Preferred shares of beneficial interest: outstanding shares	52,676,629				52,676,629	52,678,939
Preferred shares of beneficial interest: authorized shares	110,000,000				110,000,000	110,000,000
Series A Preferred Stock [Member] \| Convertible Preferred Stock [Member]
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred Stock Dividend Rate Percentage					6.50%
Details Of Preferred Shares Of Beneficial Interest [Abstract]
Preferred Stock, Value	$ 1,321				$ 1,321	$ 1,393
Preferred shares of beneficial interest: outstanding shares	26,629				26,629	28,939
Preferred Stock Liquidation Preference (in dollars per share)	$ 50.00				$ 50.00
Preferred Stock, Dividend Rate, Per-Dollar-Amount					$ 3.25
Preferred shares of beneficial interest: authorized shares	83,977				83,977	83,977
Conversion Rate of Preferred Stock to Common Stock, Shares	1.5934				1.5934	1.4334
Series G Preferred Stock [Member] \| Redeemable Preferred Stock [Member]
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred Stock Dividend Rate Percentage					6.625%
Preferred Stock Redemption Price Per Share	$ 25.00				$ 25.00
Details Of Preferred Shares Of Beneficial Interest [Abstract]
Preferred Stock, Value	$ 193,135				$ 193,135	$ 193,135
Preferred shares of beneficial interest: outstanding shares	8,000,000				8,000,000	8,000,000
Preferred Stock Liquidation Preference (in dollars per share)	$ 25.00				$ 25.00
Preferred Stock, Dividend Rate, Per-Dollar-Amount					$ 1.65625
Preferred shares of beneficial interest: authorized shares	8,000,000				8,000,000	8,000,000
Series I Preferred Stock [Member] \| Redeemable Preferred Stock [Member]
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred Stock Dividend Rate Percentage					6.625%
Preferred Stock Redemption Price Per Share	$ 25.00				$ 25.00
Details Of Preferred Shares Of Beneficial Interest [Abstract]
Preferred Stock, Value	$ 262,379				$ 262,379	$ 262,379
Preferred shares of beneficial interest: outstanding shares	10,800,000				10,800,000	10,800,000
Preferred Stock Liquidation Preference (in dollars per share)	$ 25.00				$ 25.00
Preferred Stock, Dividend Rate, Per-Dollar-Amount					$ 1.65625
Preferred shares of beneficial interest: authorized shares	10,800,000				10,800,000	10,800,000
Series J Preferred Stock [Member] \| Redeemable Preferred Stock [Member]
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred Stock Dividend Rate Percentage					6.875%
Preferred Stock Redemption Price Per Share	$ 25.00				$ 25.00
Details Of Preferred Shares Of Beneficial Interest [Abstract]
Preferred Stock, Value	$ 238,842				$ 238,842	$ 238,842
Preferred shares of beneficial interest: outstanding shares	9,850,000				9,850,000	9,850,000
Preferred Stock Liquidation Preference (in dollars per share)	$ 25.00				$ 25.00
Preferred Stock, Dividend Rate, Per-Dollar-Amount					$ 1.71875
Preferred shares of beneficial interest: authorized shares	9,850,000				9,850,000	9,850,000
Series K Preferred Stock [Member] \| Redeemable Preferred Stock [Member]
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred Stock Dividend Rate Percentage					5.70%
Preferred Stock Redemption Price Per Share	$ 25.00				$ 25.00
Details Of Preferred Shares Of Beneficial Interest [Abstract]
Preferred Stock, Value	$ 290,971				$ 290,971	$ 290,971
Preferred shares of beneficial interest: outstanding shares	12,000,000				12,000,000	12,000,000
Preferred Stock Liquidation Preference (in dollars per share)	$ 25.00				$ 25.00
Preferred Stock, Dividend Rate, Per-Dollar-Amount					$ 1.425
Preferred shares of beneficial interest: authorized shares	12,000,000				12,000,000	12,000,000
Series L Preferred Stock [Member] \| Redeemable Preferred Stock [Member]
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred Stock Dividend Rate Percentage					5.40%
Preferred Stock Redemption Price Per Share	$ 25.00				$ 25.00
Details Of Preferred Shares Of Beneficial Interest [Abstract]
Preferred Stock, Value	$ 290,306				$ 290,306	$ 290,306
Preferred shares of beneficial interest: outstanding shares	12,000,000				12,000,000	12,000,000
Preferred Stock Liquidation Preference (in dollars per share)	$ 25.00				$ 25.00
Preferred Stock, Dividend Rate, Per-Dollar-Amount					$ 1.35
Preferred shares of beneficial interest: authorized shares	12,000,000				12,000,000	12,000,000

Shareholders' Equity (Details 1) $ in Thousands	12 Months Ended
Shareholders' Equity (Details 1) $ in Thousands	Dec. 31, 2015 USD ($)
Accumulated other comprehensive (loss) income, Beginning Balance	$ 93,267
Net current period OCI	(46,346)
Accumulated other comprehensive (loss) income, Ending Balance	46,921
Interest rate Swap [Member]
Accumulated other comprehensive (loss) income, Beginning Balance	(25,803)
Net current period OCI	6,435
Accumulated other comprehensive (loss) income, Ending Balance	(19,368)
Securities available for sale [Member]
Accumulated other comprehensive (loss) income, Beginning Balance	133,774
Net current period OCI	(55,326)
Accumulated other comprehensive (loss) income, Ending Balance	78,448
Pro Rata Share Of Non Consolidated Subsidiaries Oci [Member]
Accumulated other comprehensive (loss) income, Beginning Balance	(8,992)
Net current period OCI	(327)
Accumulated other comprehensive (loss) income, Ending Balance	(9,319)
Other [Member]
Accumulated other comprehensive (loss) income, Beginning Balance	(5,712)
Net current period OCI	2,872
Accumulated other comprehensive (loss) income, Ending Balance	$ (2,840)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Variable Interest Entities (Details) $ in Thousands	Dec. 31, 2015 USD ($) Entities	Dec. 31, 2014 USD ($) Entities
Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Number Of Variable Interest Entities	0	0
Non Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Number Of Variable Interest Entities	6	3
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets \| $	$ 379,939	$ 286,783

Fair Value Measurements (Narratives) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) Investments	Dec. 31, 2014 USD ($) Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate fund investments	$ 574,761	$ 513,973
Real Estate Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number Of Investments Held By Fund \| Investments	6	7
Real estate fund investments	$ 574,761	$ 513,973
Excess of fair value over cost	$ 208,614
Real Estate Fund [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurement Anticipated Investment Holding Period	1 year
Real Estate Fund [Member] \| Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurement Anticipated Investment Holding Period	5 years

Fair Value Measurements (Details) - USD ($) $ in Thousands	12 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	$ 150,997	$ 206,323
Real estate fund investments	574,761	513,973
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	150,997	206,323
Real estate fund investments	574,761	513,973
Deferred compensation plan assets (included in other assets)	117,475	117,284
Total assets	843,233	837,580
Mandatorily redeemable instruments (included in other liabilities)	50,561	55,097
Interest rate swap (included in other liabilities)	19,600	25,797
Total liabilities	$ 70,161	$ 80,894
Other Partners Ownership Interest In Real Estate Fund (in percentage)	75.00%	75.00%
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real Estate, Net at Fair Value	$ 0	$ 4,848
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	150,997	206,323
Real estate fund investments	0	0
Deferred compensation plan assets (included in other assets)	58,289	53,969
Total assets	209,286	260,292
Mandatorily redeemable instruments (included in other liabilities)	50,561	55,097
Interest rate swap (included in other liabilities)	0	0
Total liabilities	50,561	55,097
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real Estate, Net at Fair Value		0
Fair Value Inputs Level 2 Member \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Real estate fund investments	0	0
Deferred compensation plan assets (included in other assets)	0	0
Total assets	0	0
Mandatorily redeemable instruments (included in other liabilities)	0	0
Interest rate swap (included in other liabilities)	19,600	25,797
Total liabilities	19,600	25,797
Fair Value Inputs Level 2 Member \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real Estate, Net at Fair Value		0
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Real estate fund investments	574,761	513,973
Deferred compensation plan assets (included in other assets)	59,186	63,315
Total assets	633,947	577,288
Mandatorily redeemable instruments (included in other liabilities)	0	0
Interest rate swap (included in other liabilities)	0	0
Total liabilities	$ 0	0
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real Estate, Net at Fair Value		$ 4,848

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Real Estate Fund [Member]
Unobservable Quantitative Input [Abstract]
Beginning balance	$ 513,973	$ 667,710
Purchases	95,010	3,392
Sales/Dispositions/distributions	(91,450)	(307,268)
Net unrealized gains	54,995	73,802
Net realized gains	2,757	76,337
Other, net	(524)	0
Ending balance	$ 574,761	513,973
Real Estate Fund [Member] \| Minimum [Member]
Unobservable Quantitative Input [Abstract]
Discount rates	12.00%
Capitalization rate	4.80%
Real Estate Fund [Member] \| Maximum [Member]
Unobservable Quantitative Input [Abstract]
Discount rates	14.90%
Capitalization rate	6.10%
Real Estate Fund [Member] \| Weighted Average [Member]
Unobservable Quantitative Input [Abstract]
Discount rates	13.60%
Capitalization rate	5.50%
Deferred Compensation Plan Assets [Member]
Unobservable Quantitative Input [Abstract]
Beginning balance	$ 63,315	68,782
Purchases	9,062	14,162
Sales/Dispositions/distributions	(13,252)	(24,951)
Realized and unrealized gain	(501)	3,415
Other, net	562	1,907
Ending balance	$ 59,186	$ 63,315

Fair Value Measurements (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured Debt, Total	$ 844,159	$ 1,342,494
Senior Unsecured Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	850,000	1,350,000
Unsecured Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	187,500	0
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,295,980	749,418
Mortgage and mezzanine loans receivable (included in other assets)	0	16,748
Total assets	1,295,980	766,166
Mortgages payable, gross	9,614,838	8,261,055
Unsecured revolving credit facilities	550,000	0
Unsecured Debt, Total	11,202,338	9,611,055
Carrying (Reported) Amount, Fair Value Disclosure [Member] \| Senior Unsecured Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	850,000	1,350,000
Carrying (Reported) Amount, Fair Value Disclosure [Member] \| Unsecured Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	187,500	0
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	1,296,000	749,000
Mortgage and mezzanine loans receivable (included in other assets)	0	17,000
Total assets	1,296,000	766,000
Mortgages payable, gross	9,306,000	8,224,000
Unsecured revolving credit facilities	550,000	0
Unsecured Debt, Total	10,911,500	9,609,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Senior Unsecured Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	868,000	1,385,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Unsecured Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured debt, gross	$ 187,500	$ 0

Stock-based Compensation (Narratives) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Expense	$ 39,846	$ 36,641	$ 34,914
Corporate general and administrative expenses in 2016 due to accelerated compensation expenses	2,940
Corporate general and administrative expenses after 2016 due to accelerated compensation expenses	$ 3,277
Full Value Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized (in Shares)	6,000,000
Share Based Compensation Shares Available For Grant (in Shares)	3,570,000
Not Full Value Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized (in Shares)	12,000,000
Out Performance Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Expense	$ 15,531	6,185	3,226
Additional Expense From Acceleration Of Vesting	$ 6,217
Revised Age Limit For Awards Vesting Criteria	65 years
Out Performance Plan [Abstract]
Award vesting in three years	33.00%
Award versting in four years	33.00%
Award vesting in five years	34.00%
Compensation Cost Not Yet Recognized	$ 5,087
Compensation Cost Recognition Period	1 year 8 months 12 days
Out Performance Plan 2015 [Member]
Out Performance Plan [Abstract]
Required award holding period after vesting	1 year
Grant-Date Fair Value	$ 9,120
Award Amortization Period	5 years
Out Performance Plan 2015 [Member] \| Absolute [Member]
Out Performance Plan [Abstract]
Duration Of Performance Measurement Period	3 years
Required Shareholder Return Per Year	7.00%
Required Shareholder Return Three Year	21.00%
Out Performance Plan 2015 [Member] \| Relative [Member]
Out Performance Plan [Abstract]
Duration Of Performance Measurement Period	3 years
Required Shareholder Return Under Relative Component	6.00%
Percentage Of Shareholder Return Under Which No Awards Will Be Earned	0.00%
Out Performance Plan 2014 [Member]
Out Performance Plan [Abstract]
Required award holding period after vesting	1 year
Grant-Date Fair Value	$ 8,202
Award Amortization Period	5 years
Out Performance Plan 2014 [Member] \| Absolute [Member]
Out Performance Plan [Abstract]
Duration Of Performance Measurement Period	3 years
Required Shareholder Return Per Year	7.00%
Required Shareholder Return Three Year	21.00%
Out Performance Plan 2014 [Member] \| Relative [Member]
Out Performance Plan [Abstract]
Duration Of Performance Measurement Period	3 years
Required Shareholder Return Under Relative Component	6.00%
Percentage Of Shareholder Return Under Which No Awards Will Be Earned	0.00%
Out Performance Plan 2013 [Member]
Out Performance Plan [Abstract]
Required award holding period after vesting	1 year
Grant-Date Fair Value	$ 6,814
Award Amortization Period	5 years
Out Performance Plan 2012 [Member]
Out Performance Plan [Abstract]
Grant-Date Fair Value	$ 12,250
Award Amortization Period	5 years
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Expense	$ 1,298	$ 4,550	$ 8,234
Out Performance Plan [Abstract]
Compensation Cost Not Yet Recognized	$ 1,325
Compensation Cost Recognition Period	1 year 8 months 12 days
Stock options expiration term	10 years
Award Vesting Period	4 years
Share Based Compensation Employee Stock Purchase Plan Activity [Abstract]
Grant Date Fair Value Of Options (in dollars per shares)	$ 28.85	$ 20.31	$ 17.18
Cash Received From Exercise Of Stock Options	$ 15,343	$ 17,441	$ 5,915
Total Intrinsic Value Of Options Excercised	3,873	18,223	3,386
Restricted Stock Units RSU [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Expense	837	1,303	1,344
Out Performance Plan [Abstract]
Compensation Cost Not Yet Recognized	$ 1,315
Compensation Cost Recognition Period	1 year 8 months 12 days
Dividends Paid On Nonvested Units	$ 58	88	110
Grant-Date Fair Value	$ 906	1,048	857
Award Vesting Period	4 years
Fair Value Of Awards Vested	$ 882	1,174	1,194
Restricted Operating Partnership Units Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Expense	22,180	24,603	22,110
Out Performance Plan [Abstract]
Compensation Cost Not Yet Recognized	$ 18,625
Compensation Cost Recognition Period	1 year 7 months 6 days
Dividends Paid On Nonvested Units	$ 2,414	2,866	2,598
Grant-Date Fair Value	$ 20,293	19,669	31,947
Award Vesting Period	4 years
Fair Value Of Awards Vested	$ 20,072	$ 22,758	$ 16,404

Stock-based Compensation (Details 1) - USD ($)	12 Months Ended
Stock-based Compensation (Details 1) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restricted Stock Units RSU [Member]
Share Based Compensation Equity Instruments Other Than Stock Options And Restricted Stock Units Summary [Abstract]
Grant-Date Fair Value	$ 906,000	$ 1,048,000	$ 857,000
Share Based Compensation Equity Instruments Other Than Options Plan Activity [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Beginning of Period	$ 78.32
Units Granted Weighted Average Grant Date Fair Value	110.84
Awards Vested Weighted Average Grant Date Fair Value	78.08
Units Cancelled or Expired Weighted Average Grant Date Fair Value	88.69
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, End of Period	$ 91.09	$ 78.32
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance	24,478
Restricted Stock Granted Shares	8,177
Vested Units	(11,298)
Cancelled or Expired Units	(1,765)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	19,592	24,478
Restricted Operating Partnership Units Plan [Member]
Share Based Compensation Equity Instruments Other Than Stock Options And Restricted Stock Units Summary [Abstract]
Grant-Date Fair Value	$ 20,293,000	$ 19,669,000	$ 31,947,000
Share Based Compensation Equity Instruments Other Than Options Plan Activity [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Beginning of Period	$ 74.38
Units Granted Weighted Average Grant Date Fair Value	102.75
Awards Vested Weighted Average Grant Date Fair Value	74.22
Units Cancelled or Expired Weighted Average Grant Date Fair Value	83.89
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, End of Period	$ 83.07	$ 74.38
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance	721,662
Restricted Stock Granted Shares	197,497
Vested Units	(270,443)
Cancelled or Expired Units	(9,699)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	639,017	721,662
Employee Stock Option [Member]
Share Based Compensation Employee Stock Purchase Plan Activity [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period	$ 60.82
Stock Options Granted Weighted Average Exercise Price	112.10
Stock Options Exercised Weighted Average Exercise Price	82.21
Stock Options Cancelled or Expired Weighted Average Exercise Price	100.21
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period	$ 60.06	$ 60.82
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance	2,965,968
Stock Options Granted Shares	35,208
Stock Options Exercised Shares	(160,266)
Stock Options Cancelled or Expired Shares	(13,340)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	2,827,570	2,965,968
Options Vested And Expected To Vest Shares	2,826,685
Options Vested And Expected To Vest Weighted Average Exercise Price	$ 60.06
Options Excercisable Shares	2,741,863
Options Excercisable Weighted Average Exercise Price	$ 59.08
Options Exercisable Weighted Average Remaining Contractual Term	3 years 9 months 18 days
Options Outstanding Weighted Average Remaining Contractual Term	4 years
Options Vested And Expected To Vest Weighted Average Remaining Contractual Term	4 years
Options Outstanding Aggregate Intrinsic Value (in US dollars)	$ 115,796,000
Options Vested And Expected To Vest Aggregate Intrinsic Value (in US dollars)	115,788,000
Options Excercisable Aggregate Intrinsic Value (in US dollars)	$ 114,653,000
Fair Value Assumptions Expected Volatility Rate	35.00%	36.00%	36.00%
Fair Value Assumptions Expected Life	5 years	5 years	5 years
Fair Value Assumptions Risk Free Interest Rate	1.56%	1.81%	0.91%
Fair Value Assumptions Risk Expected Dividend Yield (in percentage)	3.30%	4.10%	4.30%
Out Performance Plan 2015 [Member]
Share Based Compensation Equity Instruments Other Than Stock Options And Restricted Stock Units Summary [Abstract]
Out of performance plan notional amount	$ 40,000,000
Grant-Date Fair Value	$ 9,120,000
OPP Units Earned, String	To be determined in 2017
Out Performance Plan 2014 [Member]
Share Based Compensation Equity Instruments Other Than Stock Options And Restricted Stock Units Summary [Abstract]
Out of performance plan notional amount	$ 50,000,000
Grant-Date Fair Value	$ 8,202,000
OPP Units Earned, String	To be determined in 2016
Out Performance Plan 2013 [Member]
Share Based Compensation Equity Instruments Other Than Stock Options And Restricted Stock Units Summary [Abstract]
Out of performance plan notional amount	$ 40,000,000
Grant-Date Fair Value	$ 6,814,000
OPP Units Earned	85,420
Out Performance Plan 2012 [Member]
Share Based Compensation Equity Instruments Other Than Stock Options And Restricted Stock Units Summary [Abstract]
Out of performance plan notional amount	$ 40,000,000
Grant-Date Fair Value	$ 12,250,000
OPP Units Earned	303,202

Fee and Other Income (Details) - USD ($) $ in Thousands	12 Months Ended
Fee and Other Income (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fee And Other Income [Line Items]
BMS cleaning fees	$ 82,113	$ 85,658	$ 66,505
Lease termination fees	27,233	16,362	32,630
Management and leasing fees	16,831	19,905	23,073
Other income	38,528	33,281	33,363
Fee and other income	164,705	$ 155,206	155,571
1290 Avenue of the Americas [Member]
Fee And Other Income [Line Items]
Lease termination fees			19,500
Write Off Of Straight Lining Of Rent			$ 1,529
Equity method ownership percentage			70.00%
Cuyahoga County [Member]
Fee And Other Income [Line Items]
Lease termination fees			$ 3,000
20 Broad Street [Member]
Fee And Other Income [Line Items]
Lease termination income	$ 15,000
Vornado Realty Trust [Member] \| 1290 Avenue of the Americas [Member]
Fee And Other Income [Line Items]
Lease termination fees			$ 12,121

Interest and Other Investment Income (Loss), Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest and Other Investment Income (Loss), Net [Abstract]
Dividends on marketable securities	$ 12,836	$ 12,707	$ 11,446
Interest on loans receivable	6,371	6,107	20,683
Mark-to-market of investments in our deferred compensation plan	111	11,557	10,636
Losses from the disposition of investment in J.C. Penney	0	0	(72,974)
Other, net	7,660	8,381	5,322
Interest and other investment (loss) income, net	$ 26,978	$ 38,752	$ (24,887)

Interest and Debt Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest and Debt Expense [Abstract]
Interest expense	$ 405,169	$ 430,278	$ 444,412
Amortization of deferred financing costs	32,161	45,263	23,673
Capitalized interest and debt expenses	(59,305)	(62,786)	(42,303)
Interest and Debt Expense, Total	$ 378,025	$ 412,755	$ 425,782

Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Per Share [Abstract]
Income (loss) from continuing operations, net of income attributable to noncontrolling interests									$ 711,240	$ 312,700	$ (56,727)
Income from discontinued operations, net of income attributable to noncontrolling interests									49,194	552,152	532,698
Net income attributable to Vornado									760,434	864,852	475,971
Preferred share dividends									(80,578)	(81,464)	(82,807)
Preferred unit and share redemptions									0	0	(1,130)
Net income attributable to common shareholders	$ 230,742	$ 198,870	$ 165,651	$ 84,593	$ 513,238	$ 131,159	$ 76,642	$ 62,349	679,856	783,388	392,034
Earnings allocated to unvested participating securities									(81)	(125)	(110)
Numerator for basic income per share									679,775	783,263	391,924
Convertible preferred share dividends									91	97	0
Numerator for diluted income per share									$ 679,866	$ 783,360	$ 391,924
Denominator for basic income per share - weighted average shares (in shares)									188,353	187,572	186,941
Employee stock options and restricted share awards (in shares)									1,166	1,075	768
Convertible preferred shares									45	43	0
Denominator for diluted income per share - weighted average shares and assumed conversions (in shares)									189,564	188,690	187,709
INCOME (LOSS) PER COMMON SHARE - BASIC:
Income (loss) from continuing operations, net (in dollars per share)									$ 3.35	$ 1.23	$ (0.75)
Income from discontinued operations, net (in dollars per share)									0.26	2.95	2.85
Net income per common share - Basic (in dollars per share)	$ 1.22	$ 1.05	$ 0.88	$ 0.45	$ 2.73	$ 0.70	$ 0.41	$ 0.33	3.61	4.18	2.10
INCOME (LOSS) PER COMMON SHARE - DILUTED:
Income (loss) from continuing operations, net (in dollars per share)									3.33	1.22	(0.75)
Income from discontinued operations, net (in dollars per share)									0.26	2.93	2.84
Net income per common share - Diluted (in dollars per share)	$ 1.22	$ 1.05	$ 0.87	$ 0.45	$ 2.72	$ 0.69	$ 0.41	$ 0.33	$ 3.59	$ 4.15	$ 2.09

Income Per Share (Parentheticals) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Per Share [Abstract]
Weighted average common share equivalents of excluded dilutive securities due to anti-dilutive effect	11,744	11,238	11,752

Leases (Details) $ in Thousands	12 Months Ended
Leases (Details) $ in Thousands	Dec. 31, 2015 USD ($) Tenants	Dec. 31, 2014 USD ($) Tenants	Dec. 31, 2013 USD ($) Tenants
Operating Leases Future Minimum Payments Receivable [Abstract]
2016	$ 1,633,615
2017	1,686,056
2018	1,644,440
2019	1,496,805
2020	1,349,724
Thereafter	8,103,382
Percentage Rent	5,760	$ 6,343	$ 7,344
Operating Leases Future Minimum Payments Due [Abstract]
2016	33,265
2017	34,831
2018	35,317
2019	35,826
2020	36,353
Thereafter	$ 1,557,541
Lessee Leasing Arrangements Operating Leases Term Of Contract	30 years
Rent Expense	$ 38,887	$ 36,315	$ 35,913
Capital Leases Future Minimum Payments Due [Abstract]
2016	12,500
2017	12,500
2018	12,500
2019	12,500
2020	12,500
Thereafter	322,292
Total Minimum Obligations	384,792
Interest Portion	(144,792)
Present Value Of Net Minimum Payments	240,000
Property Leased Under Capital Leases Cost	$ 424,369
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Number Of Tenants Contributing Ten Percent Or More Of Total Revenues \| Tenants	0	0	0
Percentage Of Minimum Revenue Threshold Contributed By One Tenant	10.00%	10.00%	10.00%

Multiemployer Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Multiemployer Plans, Pension [Member]
Multiemployer Benefit Plans [Line Items]
Multiemployer Plan, Period Contributions	$ 10,878	$ 11,431	$ 10,223
Multiemployer Plans, Period Contributions, Significance of Contributions	false
Multiemployer Plans, Healthcare Benefit [Member]
Multiemployer Benefit Plans [Line Items]
Multiemployer Plan, Period Contributions	$ 29,269	$ 29,073	$ 26,262

Commitments and Contingencies (Details) - USD ($)		12 Months Ended
Commitments and Contingencies (Details) - USD ($)	Jan. 01, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Guarantees and master leases		$ 427,000,000
Outstanding letters of credit		38,096,000
Commitment To Fund Additional Capital To Partially Owned Entities		70,000,000
220 Central Park South [Member]
Loss Contingencies [Line Items]
Constuction commitment		873,800,000
NBCR Losses [Member]
Loss Contingencies [Line Items]
Insurance limit per occurrence		2,000,000,000
Insurance Limit Aggregate Value		$ 2,000,000,000
Federal government deductible, percentage of balance of a covered loss		85.00%
NBCR Losses [Member] \| Subsequent Event [Member]
Loss Contingencies [Line Items]
Federal government deductible, percentage of balance of a covered loss	84.00%
Earthquake California Properties [Member]
Loss Contingencies [Line Items]
Insurance limit per occurrence		$ 180,000,000
Insurance Limit Aggregate Value		$ 180,000,000
Vornado deductible, percentage of property value		5.00%
All Risk And Rental Value [Member]
Loss Contingencies [Line Items]
Insurance limit per occurrence		$ 2,000,000,000
General Liability [Member]
Loss Contingencies [Line Items]
Insurance limit per occurrence		300,000,000
Insurance Limit Aggregate Value		300,000,000
Terrorism Acts [Member]
Loss Contingencies [Line Items]
Insurance limit per occurrence		4,000,000,000
Insurance Limit Aggregate Value		$ 4,000,000,000
Insurance Coverage End Date		December 2020
PPIC [Member] \| NBCR Losses [Member]
Loss Contingencies [Line Items]
Insurance deductible		$ 3,200,000
Insurance Deductible Percentage Of Balance Of Covered Loss		15.00%
PPIC [Member] \| NBCR Losses [Member] \| Subsequent Event [Member]
Loss Contingencies [Line Items]
Insurance deductible	$ 2,400,000
Insurance Deductible Percentage Of Balance Of Covered Loss	16.00%

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Cash Considerations Transferred During Spin Off	$ 225,000	$ 0	$ 0
Alexanders Inc [Member]
Related Party Transaction [Line Items]
Percentage of Affiliated Entity Owned By Company	32.40%
Percentage Of Affiliated Entity Owned By Related Parties	26.30%
Interstate Properties [Member]
Related Party Transaction [Line Items]
Percentage of Company Owned by Related Party	7.10%
Related Party Transaction Annual Fee Percentage	4.00%
Fee And Other Income From Related Parties (in US dollars)	$ 541	$ 535	$ 606
Term Of Management Agreement	1 year
Period Allowed For Termination Of Automatic Renewal Of Management Agreement	60 days
Related Party Transaction Description Of Transaction	We manage and lease the real estate assets of Interstate pursuant to a management agreement for which we receive an annual fee equal to 4% of annual base rent and percentage rent. The management agreement has a term of one year and is automatically renewable unless terminated by either of the parties on 60 days’ notice at the end of the term. We believe, based upon comparable fees charged by other real estate companies, that the management agreement terms are fair to us.

Summary of Quarterly Results (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 651,581	$ 627,596	$ 616,288	$ 606,802	$ 597,010	$ 578,710	$ 574,411	$ 562,381	$ 2,502,267	$ 2,312,512	$ 2,299,176
Net income attributable to common shareholders	$ 230,742	$ 198,870	$ 165,651	$ 84,593	$ 513,238	$ 131,159	$ 76,642	$ 62,349	$ 679,856	$ 783,388	$ 392,034
Net income per common share - Basic (in dollars per share)	$ 1.22	$ 1.05	$ 0.88	$ 0.45	$ 2.73	$ 0.70	$ 0.41	$ 0.33	$ 3.61	$ 4.18	$ 2.10
Net income per common share - Diluted (in dollars per share)	$ 1.22	$ 1.05	$ 0.87	$ 0.45	$ 2.72	$ 0.69	$ 0.41	$ 0.33	$ 3.59	$ 4.15	$ 2.09

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Information [Line Items]
Total Revenues	$ 651,581	$ 627,596	$ 616,288	$ 606,802	$ 597,010	$ 578,710	$ 574,411	$ 562,381	$ 2,502,267	$ 2,312,512	$ 2,299,176
Total expenses									1,742,019	1,622,619	1,624,625
Operating income (loss)									760,248	689,893	674,551
(Loss) income from partially owned entities									(12,630)	(59,861)	(340,882)
Income from real estate fund investments									74,081	163,034	102,898
Interest and other investment income (loss), net									26,978	38,752	(24,887)
Interest and debt expense									(378,025)	(412,755)	(425,782)
Net gain on disposition of wholly owned and partially owned assets									251,821	13,568	2,030
Income (loss) before income taxes									722,473	432,631	(12,072)
Income tax benefit (expense)									84,695	(9,281)	8,717
Income (loss) from continuing operations									807,168	423,350	(3,355)
Income from discontinued operations									52,262	585,676	568,095
Net income (loss)									859,430	1,009,026	564,740
Less net income attributable to noncontrolling interests									(98,996)	(144,174)	(88,769)
Net income attributable to Vornado									760,434	864,852	475,971
Interest and debt expense (2)									469,843	654,398	758,781
Depreciation and amortization (2)									664,637	685,973	732,757
Income tax (benefit) expense (2)									(85,379)	24,248	26,371
EBITDA									1,809,535	2,229,471	1,993,880
Balance Sheet Data [Abstract]
Real estate, at cost	18,090,137				16,822,358				18,090,137	16,822,358	15,392,968	$ 15,287,078
Investments in partially owned entities	1,550,422				1,240,489				1,550,422	1,240,489	1,159,803
Total assets	21,143,293				21,157,980				21,143,293	21,157,980	20,018,210
New York Segment [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Total Revenues									1,695,925	1,520,845	1,470,907
Total expenses									1,032,015	946,466	910,498
Operating income (loss)									663,910	574,379	560,409
(Loss) income from partially owned entities									655	20,701	15,527
Interest and other investment income (loss), net									7,722	6,711	5,357
Interest and debt expense									(194,278)	(183,427)	(181,966)
Net gain on disposition of wholly owned and partially owned assets									142,693	0	0
Income (loss) before income taxes									620,702	418,364	399,327
Income tax benefit (expense)									(4,379)	(4,305)	(2,794)
Income (loss) from continuing operations									616,323	414,059	396,533
Income from discontinued operations									0	463,163	160,314
Net income (loss)									616,323	877,222	556,847
Less net income attributable to noncontrolling interests									(13,022)	(8,626)	(10,786)
Net income attributable to Vornado									603,301	868,596	546,061
Interest and debt expense (2)									248,724	241,959	236,645
Depreciation and amortization (2)									394,028	324,239	293,974
Income tax (benefit) expense (2)									4,766	4,395	3,002
EBITDA									1,250,819	1,439,189	1,079,682
Balance Sheet Data [Abstract]
Real estate, at cost	10,577,078				9,732,818				10,577,078	9,732,818	8,422,297
Investments in partially owned entities	1,195,122				1,036,130				1,195,122	1,036,130	904,278
Total assets	12,257,774				10,706,476				12,257,774	10,706,476	9,214,055
Washington DC Segment [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Total Revenues									532,812	537,151	541,161
Total expenses									390,921	358,019	347,686
Operating income (loss)									141,891	179,132	193,475
(Loss) income from partially owned entities									(5,083)	(3,677)	(6,968)
Interest and other investment income (loss), net									(262)	183	129
Interest and debt expense									(68,727)	(75,395)	(102,277)
Net gain on disposition of wholly owned and partially owned assets									102,404	0	0
Income (loss) before income taxes									170,223	100,243	84,359
Income tax benefit (expense)									(317)	(242)	14,031
Income (loss) from continuing operations									169,906	100,001	98,390
Income from discontinued operations									0	0	0
Net income (loss)									169,906	100,001	98,390
Less net income attributable to noncontrolling interests									0	0	0
Net income attributable to Vornado									169,906	100,001	98,390
Interest and debt expense (2)									82,386	89,448	116,131
Depreciation and amortization (2)									179,788	145,853	142,409
Income tax (benefit) expense (2)									(1,610)	288	(15,707)
EBITDA									430,470	335,590	341,223
Balance Sheet Data [Abstract]
Real estate, at cost	4,544,842				4,383,418				4,544,842	4,383,418	4,243,048
Investments in partially owned entities	100,511				102,635				100,511	102,635	100,543
Total assets	4,536,895				4,300,628				4,536,895	4,300,628	4,098,338
Other Segment [Member]
Segment Information [Line Items]
Total Revenues									273,530	254,516	287,108
Total expenses									319,083	318,134	366,441
Operating income (loss)									(45,553)	(63,618)	(79,333)
(Loss) income from partially owned entities									(8,202)	(76,885)	(349,441)
Income from real estate fund investments									74,081	163,034	102,898
Interest and other investment income (loss), net									19,518	31,858	(30,373)
Interest and debt expense									(115,020)	(153,933)	(141,539)
Net gain on disposition of wholly owned and partially owned assets									6,724	13,568	2,030
Income (loss) before income taxes									(68,452)	(85,976)	(495,758)
Income tax benefit (expense)									89,391	(4,734)	(2,520)
Income (loss) from continuing operations									20,939	(90,710)	(498,278)
Income from discontinued operations									52,262	122,513	407,781
Net income (loss)									73,201	31,803	(90,497)
Less net income attributable to noncontrolling interests									(85,974)	(135,548)	(77,983)
Net income attributable to Vornado									(12,773)	(103,745)	(168,480)
Interest and debt expense (2)									138,733	322,991	406,005
Depreciation and amortization (2)									90,821	215,881	296,374
Income tax (benefit) expense (2)									(88,535)	19,565	39,076
EBITDA									128,246	454,692	572,975
Balance Sheet Data [Abstract]
Real estate, at cost	2,968,217				2,706,122				2,968,217	2,706,122	2,727,623
Investments in partially owned entities	254,789				101,724				254,789	101,724	154,982
Total assets	$ 4,348,624				$ 6,150,876				$ 4,348,624	$ 6,150,876	$ 6,705,817

Segment Information (Parentheticals) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	$ 1,809,535	$ 2,229,471	$ 1,993,880
Carrying amount of investments in partially owned entitiies	1,550,422	1,240,489	1,159,803
Non cash impairment losses		(85,459)	(281,098)
Mark-to-market of investments in our deferred compensation plan	111	11,557	10,636
Corporate general and administrative expenses in 2016 due to accelerated compensation expenses	2,940
Corporate general and administrative expenses after 2016 due to accelerated compensation expenses	3,277
Out Performance Plan [Member]
Segment Information [Line Items]
Additional Expense From Acceleration Of Vesting	$ 6,217
Revised Age Limit For Awards Vesting Criteria	65 years
Our share of Toys "R" Us [Member]
Segment Information [Line Items]
Carrying amount of investments in partially owned entitiies				$ 0
Non cash impairment losses		75,196	240,757
New York Segment [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	$ 1,250,819	1,439,189	1,079,682
Carrying amount of investments in partially owned entitiies	1,195,122	1,036,130	904,278
New York Segment [Member] \| Net Gain On Sale Of Real Estate [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	142,693	440,537	127,512
New York Segment [Member] \| Alexanders Inc [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	42,858	41,746	42,210
New York Segment [Member] \| Hotel Pennsylvania [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	23,044	30,753	30,723
New York Segment [Member] \| Residential Properties [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	22,266	21,907	20,420
New York Segment [Member] \| Retail Properties [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	358,379	281,428	246,808
New York Segment [Member] \| Office [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	661,579	622,818	612,009
Washington DC Segment [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	430,470	335,590	341,223
Carrying amount of investments in partially owned entitiies	100,511	102,635	100,543
Washington DC Segment [Member] \| Washington Dc Office Excluding Skyline Properties [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	264,864	266,859	268,373
Washington DC Segment [Member] \| Net gain on sale of 1750 Pennsylvania Avenue [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	102,404	0	0
Washington DC Segment [Member] \| Skyline Properties [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	24,224	27,150	29,499
Washington DC Segment [Member] \| Residential Properties [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	38,978	41,581	43,351
Washington DC Segment [Member] \| Office [Member] \| Operating Segments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	391,492	294,009	297,872
Other Segment [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	128,246	454,692	572,975
Carrying amount of investments in partially owned entitiies	254,789	101,724	154,982
Other Segment [Member] \| Real Estate Fund [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	33,964	70,306	49,471
Other Segment [Member] \| The Mart and trade shows [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	79,159	79,636	74,270
Other Segment [Member] \| 555 California Street [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	49,975	48,844	42,667
Other Segment [Member] \| India real estate ventures [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	3,933	6,434	5,841
Other Segment [Member] \| Our share of Toys "R" Us [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	2,500	103,632	(12,081)
Other Segment [Member] \| Other Investments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	38,141	16,896	45,856
Other Segment [Member] \| Corporate General And Administrative Expenses [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	(106,416)	(94,929)	(94,904)
Other Segment [Member] \| Investment Income and other, net [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	26,385	31,665	46,525
Other Segment [Member] \| Our share of impairment loss on India real estate ventures [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	(14,806)	(5,771)	0
Other Segment [Member] \| Gains on sale of partially owned entities and other [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	37,666	13,000	0
Other Segment [Member] \| UE and residual retail properties discontinued operations [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	28,314	245,679	541,516
Other Segment [Member] \| Acquisition and transaction related costs [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	(12,511)	(16,392)	(24,857)
Other Segment [Member] \| Net gain on sale of marketable securities, land parcels and residential condominiums [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	6,724	13,568	56,868
Other Segment [Member] \| Net income attributable to noncontrolling interests in the Operating Partnership [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	(43,231)	(47,613)	(24,817)
Other Segment [Member] \| Impairment loss and loan loss reserve on investment in Suffolk Downs [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	(1,551)	(10,263)	0
Other Segment [Member] \| Losses from the disposition of investment in J.C. Penney [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	0	0	(127,888)
Other Segment [Member] \| Severance costs (primarily reduction in force at the Mart) [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	0	0	(5,492)
Other Segment [Member] \| Other EBITDA attributable to identifiable investments [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	207,672	325,748	206,024
Other Segment [Member] \| Income before net realized/unrealized gains [Member] \| Real Estate Fund [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	8,611	8,056	7,752
Other Segment [Member] \| Net unrealized/realized gains on investments [Member] \| Real Estate Fund [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	14,657	37,535	23,489
Other Segment [Member] \| Carried Interest [Member] \| Real Estate Fund [Member]
Segment Information [Line Items]
Earnings Before Interest, Taxes, Depreciation, and Amortization	$ 10,696	$ 24,715	$ 18,230

Subsequent Events (Details) - Subsequent Event [Member] - Out Performance Plan 2016 [Member]	Jan. 14, 2016 shares
Stock-based Compensation [Abstract]
Number Of Awards when TSR 0% (in Shares)	0
Percentage Of Shareholder Return Under Which No Awards Will Be Earned	0.00%
Required award holding period after vesting	1 year
Absolute [Member]
Stock-based Compensation [Abstract]
Duration Of Performance Measurement Period	3 years
Required Shareholder Return Per Year	7.00%
Required Shareholder Return Three Year	21.00%
Required Shareholder Return Under Relative Component	3.00%
Relative [Member]
Stock-based Compensation [Abstract]
Duration Of Performance Measurement Period	3 years

Subsequent Events (Details 1) ft² in Thousands		12 Months Ended
Subsequent Events (Details 1) ft² in Thousands	Feb. 08, 2016 USD ($) ft²	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Feb. 11, 2016
Subsequent Events [Line Items]
Net proceeds from borrowings		$ 4,468,872,000	$ 2,428,285,000	$ 2,262,245,000
Mortgages payable, net		$ 9,513,713,000	$ 8,187,843,000
770 Broadway [Member]
Subsequent Events [Line Items]
Interest Rate, End of Period (in percentage)		5.65%
Mortgages payable, net		$ 353,000,000
Debt Instrument Maturity		March 2016
770 Broadway [Member] \| Subsequent Event [Member]
Subsequent Events [Line Items]
Notes And Loans Payable Refinanced Amount (in US Dollars)	$ 700,000,000
Square Footage Of Real Estate Property \| ft²	1,158
Debt Term	5 years
Debt Instrument, Description of Variable Rate Basis	LIBOR
Debt Instrument, Basis Spread on Variable Rate	1.75%
Interest Rate, End of Period (in percentage)					2.18%
Net proceeds from borrowings	$ 330,000,000
770 Broadway [Member] \| Subsequent Event [Member] \| Fixed Rate [Member]
Subsequent Events [Line Items]
Debt Term	4 years 6 months
Interest Rate, End of Period (in percentage)	2.56%

SEC Schedule II Valuation and Qualifying Accounts (Details) - Allowance For Doubtful Accounts [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	$ 21,209	$ 24,719	$ 28,675
Additions Charged Against Operations	(99)	3,076	9,326
Uncollectable Accounts Written-Off	(6,451)	(6,586)	(13,282)
Balance at End of Year	$ 14,659	$ 21,209	$ 24,719

SEC Schedule III Rollforward of Real Estate Assets and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation Of Carrying Amount Of Real Estate Investments Roll Forward
Real estate, Balance at beginning period	$ 16,822,358	$ 15,392,968	$ 15,287,078
Gross real estate balance at year end	18,391,542	16,966,657	16,433,600
Less: Assets sold and written-off	301,405	144,299	1,040,632
Real estate, Balance at end of period	18,090,137	16,822,358	15,392,968
Reconciliation Of Real Estate Accumulated Depreciation Roll Forward
Accumulated Depreciation, Balance at beginning of period	3,161,633	2,829,862	2,524,718
Additions charged to operating expenses	459,612	461,689	423,844
Real Estate Accumulated Depreciation	3,621,245	3,291,551	2,948,562
Less: Accumulated depreciation on assets sold and written-off	202,978	129,918	118,700
Accumulated Depreciation, Balance at end of period	3,418,267	3,161,633	2,829,862
Land [Member]
Reconciliation Of Carrying Amount Of Real Estate Investments Roll Forward
Additions during the period: Land	281,048	225,536	131,646
Building Improvements [Member]
Reconciliation Of Carrying Amount Of Real Estate Investments Roll Forward
Additions during the period: Buildings & improvements	$ 1,288,136	$ 1,348,153	$ 1,014,876