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Subsequent Events/Other | 6 Months Ended
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Jun. 30, 2015
Subsequent Events Other [Abstract] |
Subsequent Events/Other |
14. | Subsequent Events/Other
Subsequent Events Subsequent to June 30, 2015, the Company recorded the master condominium declaration for its development project at 400 Park Avenue South in New York City with Toll Brothers. As a result, the Toll Brothers' portion of the property will be deconsolidated from the Company's balance sheet in the third quarter of 2015. Other During the six months ended June 30, 2015 and 2014, the Company incurred charges of $0.2 million and $0.1 million, respectively, related to property acquisition costs, such as survey, title and legal fees, on the acquisition of operating properties and $1.6 million and $1.5 million, respectively, related to the write-off of various pursuit and out-of-pocket costs for terminated acquisition, disposition and development transactions. These costs, totaling $1.8 million and $1.6 million, respectively, are included in other expenses in the accompanying consolidated statements of operations and comprehensive income. Effective January 1, 2015, the Company has revised its executive compensation program. The long-term incentive portion of the revised program will be performance based and determined by the Company’s absolute and relative total shareholder return over a three year performance period. During the six months ended June 30, 2015, the Company expensed approximately $4.7 million under the long-term incentive portion of the revised program, of which $0.7 million and $4.0 million was recorded to property management expense and general and administrative expense, respectively. During the six months ended June 30, 2015 and 2014, the Company received $5.8 million and $2.3 million, respectively, for the settlement of various litigation/insurance claims, which are included in interest and other income in the accompanying consolidated statements of operations and comprehensive income.

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- Definition Describes disclosed significant events or transactions that occurred after the balance sheet date, but before the issuance of the financial statements. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, changes in authorized or issued debt (SEC), substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business. Also describes significant other events that took place during the reporting period that were not otherwise disclosed in other footnotes. + References No definition available. + Details
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- Definition Subsequent events other. + References No definition available. + Details
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