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Real Estate Disposition Activities | 12 Months Ended
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Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Real Estate Disposition Activities | Real Estate Disposition Activities During the year ended December 31, 2020, the Company sold nine wholly-owned operating communities, containing an aggregate of 1,817 apartment homes for an aggregate sales price of $627,750,000 and an aggregate gain in accordance with GAAP of $340,444,000. Details regarding the real estate sales, excluding for-sale residential condominiums at the Park Loggia, are summarized in the following table (dollars in thousands):
Community Name |  | Location |  | Period of sale |  | Apartment homes |  | Debt |  | Gross sales price |  | Net cash proceeds
Avalon Shelton |  | Shelton, CT |  | Q120 |  | 250 |  |  | $ | — |  |  | $ | 64,750 |  |  | $ | 63,030 |
Avalon Tinton Falls |  | Tinton Falls, NJ |  | Q220 |  | 216 |  |  | — |  |  | 64,900 |  |  | 63,371 |
Avalon Towers |  | Long Beach, NY |  | Q320 |  | 109 |  |  | — |  |  | 54,000 |  |  | 53,079 |
Avalon Somerset |  | Somerset, NJ |  | Q420 |  | 384 |  |  | — |  |  | 110,000 |  |  | 107,415 |
eaves San Rafael |  | San Rafael, CA |  | Q420 |  | 254 |  |  | — |  |  | 106,000 |  |  | 104,462 |
Avalon Cohasset |  | Cohasset, MA |  | Q420 |  | 220 |  |  | — |  |  | 90,250 |  |  | 88,673 |
Avalon Wilton on Danbury Rd |  | Wilton, CT |  | Q420 |  | 100 |  |  | — |  |  | 34,750 |  |  | 33,744 |
Avalon Stratford |  | Stratford, CT |  | Q420 |  | 130 |  | — |  |  | 30,600 |  |  | 29,808 |
eaves Diamond Heights |  | San Francisco, CA |  | Q420 |  | 154 |  | — |  |  | 72,500 |  |  | 69,469 |
Other real estate (1) |  | Brooklyn, NY |  | 2020 |  | N/A |  | — |  |  | 6,500 |  |  | 6,722 |
Total of 2020 asset sales |  |  |  |  |  | 1,817 |  |  | $ | — |  |  | $ | 634,250 |  |  | $ | 619,773 |
Total of 2019 asset sales |  |  |  |  |  | 1,660 |  |  | $ | 21,700 |  |  | $ | 431,280 |  |  | $ | 422,041 |
Total of 2018 asset sales |  |  |  |  |  | 3,099 |  |  | $ | 395,939 |  |  | $ | 1,378,289 |  |  | $ | 883,313 |
_________________________________ (1) Represents the sale of commercial space. As of December 31, 2020, the Company had one community that qualified as held for sale. The Park Loggia The Park Loggia, located in New York, NY, contains 172 for-sale residential condominiums and 66,000 square feet of commercial space. During the year ended December 31, 2020, the Company sold 70 residential condominiums at The Park Loggia, for gross proceeds of $216,372,000 resulting in a gain in accordance with GAAP of $8,213,000. As of December 31, 2020, there were 102 residential condominiums remaining to be sold. The Company incurred $5,662,000, $3,812,000 and $1,044,000 during the years ended December 31, 2020, 2019 and 2018, respectively, in marketing, operating and administrative costs. All amounts are included in net for-sale condominium activity, on the accompanying Consolidated Statements of Comprehensive Income. As of December 31, 2020 and 2019, the unsold for-sale residential condominiums at The Park Loggia have an aggregate carrying value of $267,219,000 and $457,809,000, respectively, presented as for-sale condominium inventory on the accompanying Consolidated Balance Sheets. The Company recognized a net deferred tax liability of $5,782,000 during the year ended December 31, 2019 for the GAAP to tax basis differences of The Park Loggia and the associated 66,000 square feet of commercial space. See Note 1, "Organization, Basis of Presentation and Significant Accounting Policies," for further discussion of the income tax associated to The Park Loggia.

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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