XML 30 R15.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Properties Held for Sale and Property Dispositions | 9 Months Ended
--- | ---
Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Properties Held for Sale and Property Dispositions | Properties Held for Sale and Property Dispositions Properties Held for Sale During the three months ended September 30, 2018, we entered into an agreement to sell the Upper East Side Residential Assemblage and 1231 Third Avenue in Manhattan for a gross sales price of $143.8 million. We closed on the sale of the Upper East Side Residential Assemblage and 1231 Third Avenue in October 2018. As of September 30, 2018, 2 Herald Square, the Upper East Side Residential Assemblage, and 1231 Third Avenue were classified as held for sale. We closed on the sale of the Upper East Side Residential Assemblage and 1231 Third Avenue in October 2018. During the third quarter of 2018, the Company recorded a charge of $6.7 million in connection with the reclassification of the Upper East Side Residential Assemblage to held for sale. This charge is included in depreciable real estate reserves in the consolidated statement of operations. Property Dispositions The following table summarizes the properties sold during the nine months ended September 30, 2018:
Property |  | Disposition Date |  | Property Type |  | Approximate Square Feet |  | Sales Price(1) (in millions) |  | Gain (loss)(2) (in millions)
600 Lexington Avenue |  | January 2018 |  | Fee Interest |  | 303,515 |  |  | $ | 305.0 |  |  | $ | 23.8 |
115-117 Stevens Avenue |  | May 2018 |  | Fee Interest |  | 178,000 |  |  | 12.0 |  |  | (0.7 | )
635 Madison Avenue |  | June 2018 |  | Fee Interest |  | 176,530 |  |  | 153.0 |  |  | (14.1 | )
1-6 International Drive |  | July 2018 |  | Fee Interest |  | 540,000 |  |  | 55.0 |  |  | (2.6 | )
(1) | Sales price represents the gross sales price for a property or the gross asset valuation for interests in a property.
(2) | The gain on sale for 600 Lexington Avenue is net of $1.3 million in employee compensation accrued in connection with the realization of this investment gain. Additionally, gain (loss) amounts do not include adjustments for expenses recorded in subsequent periods.

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration