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Real Estate Disposition Activities | 12 Months Ended
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Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Real Estate Disposition Activities | Real Estate Disposition Activities During the year ended December 31, 2021, the Company sold nine wholly-owned operating communities, containing an aggregate of 2,404 apartment homes for an aggregate sales price of $867,200,000 and an aggregate gain in accordance with GAAP of $602,235,000. 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
eaves Stamford |  | Stamford, CT |  | Q121 |  | 238 |  |  | $ | — |  |  | $ | 72,000 |  |  | $ | 70,062 |
Avalon Norwalk |  | Norwalk, CT |  | Q221 |  | 311 |  |  | — |  |  | 103,000 |  |  | 101,422 |
AVA Cortez Hill |  | San Diego, CA |  | Q221 |  | 299 |  |  | — |  |  | 96,500 |  |  | 94,648 |
Avalon Redmond Place |  | Redmond, WA |  | Q221 |  | 222 |  |  | — |  |  | 97,700 |  |  | 86,750 |
Avalon Bronxville |  | Bronxville, NY |  | Q221 |  | 110 |  |  | — |  |  | 89,000 |  |  | 88,088 |
Avalon Glen Cove & Avalon Glen Cove North |  | Glen Cove, NY |  | Q221 |  | 367 |  |  | — |  |  | 126,000 |  |  | 125,564 |
eaves Lawrenceville |  | Lawrenceville, NJ |  | Q421 |  | 632 |  |  | — |  |  | 208,000 |  |  | 203,705 |
Avalon at Center Place |  | Providence, RI |  | Q421 |  | 225 |  |  | — |  |  | 75,000 |  |  | 71,841 |
Other real estate (1) |  | multiple |  | 2021 |  | N/A |  | — |  |  | 7,858 |  |  | 8,150 |
Total of 2021 asset sales |  |  |  |  |  | 2,404 |  |  | $ | — |  |  | $ | 875,058 |  |  | $ | 850,230 |
Total of 2020 asset sales |  |  |  |  |  | 1,817 |  |  | $ | — |  |  | $ | 634,250 |  |  | $ | 619,773 |
Total of 2019 asset sales |  |  |  |  |  | 1,660 |  |  | $ | 21,700 |  |  | $ | 431,280 |  |  | $ | 422,041 |
_________________________________ (1) Represents the sale of one undeveloped land parcel, located in Boston, MA, and condominium rights, located in Plymouth, MA. As of December 31, 2021, the Company had one real estate asset 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, 2021, the Company sold 53 residential condominiums at The Park Loggia, for gross proceeds of $135,458,000 resulting in a gain in accordance with GAAP of $3,110,000. As of December 31, 2021, there were 49 residential condominiums remaining to be sold. The Company incurred $4,087,000, $5,662,000 and $3,812,000 during the years ended December 31, 2021, 2020 and 2019, 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, 2021 and 2020, the unsold for-sale residential condominiums at The Park Loggia had an aggregate carrying value of $146,535,000 and $267,219,000, respectively, presented as for-sale condominium inventory on the accompanying Consolidated Balance Sheets.

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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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