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Properties Held for Sale and Property Dispositions | 12 Months Ended
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Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Properties Held for Sale and Property Dispositions | Properties Held for Sale During the third quarter of 2019, we entered into an agreement to sell 220 East 42nd Street in Manhattan for a total consideration of $815.0 million. The sale is expected to close in the first quarter of 2020. As of December 31, 2019, 220 East 42nd Street was classified as held for sale. Property Dispositions The following table summarizes the properties sold during the years ended December 31, 2019, 2018, and 2017:
Property |  | Disposition Date |  | Property Type |  | Unaudited Approximate Usable Square Feet |  | Sales Price(1) (in millions) |  | Gain (Loss) on Sale(2) (in millions)
Suburban Properties (3) |  | December 2019 |  | Fee Interest |  | 1,107,000 |  |  | $ | 229.2 |  |  | $ | 1.8 |
1640 Flatbush Avenue |  | December 2019 |  | Fee Interest |  | 1,000 |  |  | 16.2 |  |  | 5.5 |
562 Fifth Avenue |  | December 2019 |  | Fee Interest |  | 42,635 |  |  | 52.4 |  |  | (26.6 | )
1010 Washington Boulevard |  | November 2019 |  | Fee Interest |  | 143,400 |  |  | 23.1 |  |  | (7.1 | )
115 Spring Street (4) |  | August 2019 |  | Fee Interest |  | 5,218 |  |  | 66.6 |  |  | 3.6 |
2 Herald Square(5) |  | November 2018 |  | Office/Retail |  | 369,000 |  |  | 265.0 |  |  | — |
400 Summit Lake Drive |  | November 2018 |  | Land |  | 39.5 | acres |  | 3.0 |  |  | (36.2 | )
Upper East Side Assemblage(6)(7) |  | October 2018 |  | Development |  | 70,142 |  |  | 143.8 |  |  | (6.3 | )
1-6 International Drive |  | July 2018 |  | Office |  | 540,000 |  |  | 55.0 |  |  | (2.6 | )
635 Madison Avenue |  | June 2018 |  | Retail |  | 176,530 |  |  | 153.0 |  |  | (14.1 | )
115-117 Stevens Avenue |  | May 2018 |  | Office |  | 178,000 |  |  | 12.0 |  |  | (0.7 | )
600 Lexington Avenue |  | January 2018 |  | Office |  | 303,515 |  |  | 305.0 |  |  | 23.8 |
1515 Broadway (8) |  | December 2017 |  | Office |  | 1,750,000 |  |  | 1,950.0 |  |  | — |
125 Chubb Way |  | October 2017 |  | Office |  | 278,000 |  |  | 29.5 |  |  | (26.1 | )
16 Court Street |  | October 2017 |  | Office |  | 317,600 |  |  | 171.0 |  |  | 64.9 |
680-750 Washington Boulevard |  | July 2017 |  | Office |  | 325,000 |  |  | 97.0 |  |  | (44.2 | )
520 White Plains Road |  | April 2017 |  | Office |  | 180,000 |  |  | 21.0 |  |  | (14.6 | )
102 Greene Street (9) |  | April 2017 |  | Retail |  | 9,200 |  |  | 43.5 |  |  | 4.9 |
(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 1640 Flatbush Avenue, 600 Lexington Avenue, 16 Court Street, and 102 Greene Street are net of $2.0 million, $1.3 million, $2.5 million, and $0.9 million, respectively, in employee compensation accrued in connection with the realization of these investment gains. Additionally, amounts do not include adjustments for expenses recorded in subsequent periods.
(3) | Suburban Properties consists of 360 Hamilton Avenue, 100 Summit Lake Drive, 200 Summit Lake Drive, and 500 Summit Lake Drive.
(4) | The Company sold a 49% interest, which resulted in the deconsolidation of our remaining 51% interest. We recorded our investment at fair value which resulted in the recognition of a fair value adjustment of $3.8 million, which is reflected in the Company's consolidated statements of operations within purchase price and other fair value adjustments. See Note 6, "Investments in Unconsolidated Joint Ventures."
(5) | In November 2018, the Company sold a 49% interest in 2 Herald Square to an Israeli institutional investor. See Note 6, "Investments in Unconsolidated Joint Ventures."
(6) | Upper East Side Assemblage consists of 260 East 72nd Street, 31,076 square feet of development rights, 252-254 East 72nd Street, 257 East 71st Street, 259 East 71st Street, and 1231 Third Avenue.
(7) | The Company recorded a $5.8 million charge in 2018 that is included in depreciable real estate reserves and impairment in the consolidated statement of operations.
(8) | In November 2017, the Company sold a 30.13% interest in 1515 Broadway to affiliates of Allianz Real Estate. At that time, the sale did not meet the criteria for sale accounting and as a result the property was accounted for under the profit sharing method. The Company achieved sale accounting upon adoption of ASC 610-20 in January 2018 and closed on the sale of an additional 12.87% interest in the property to Allianz in February 2018. See Note 6, "Investments in Unconsolidated Joint Ventures."
(9) In April 2017, we closed on the sale of a 90% interest in 102 Greene Street and accounted for our retained 10% interest in the property as an investment in unconsolidated joint ventures. We sold the remaining 10% interest in September 2017. See Note 6, "Investments in Unconsolidated Joint Ventures."

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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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