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Properties Held for Sale and Property Dispositions | 6 Months Ended
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Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Properties Held for Sale and Property Dispositions | Properties Held for Sale and Property Dispositions Properties Held for Sale As of June 30, 2024, Palisades Premier Conference Center was classified as held for sale as we entered into an agreement to sell the property for $26.3 million. The sale closed in July 2024. Property Dispositions The following table summarizes the properties sold during the six months ended June 30, 2024:
Property |  | Disposition Date |  | Property Type |  | Unaudited Approximate Usable Square Feet |  | Sales Price (1) (in millions) |  | Loss on Sale (in millions) (2)
719 Seventh Avenue |  | June 2024 |  | Fee Interest |  | 10,040 |  |  | $ | 30.5 |  |  | $ | (2.0) |
(1)Sales price represents the gross sales price for a property or the gross asset valuation for interests in a property. (2)The loss on sale is net of $2.1 million of employee compensation accrued in connection with the realization of the investment disposition. The amounts do not include adjustments for expenses recorded in subsequent periods.

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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 -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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