Commitments and Contingencies

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Legal Proceedings

As of June 30, 2018, the Company and the Operating Partnership were not involved in any material litigation nor, to management's knowledge, was any material litigation threatened against us or our portfolio which if adversely determined could have a material adverse impact on us.

Environmental Matters

Our management believes that the properties are in compliance in all material respects with applicable Federal, state and local ordinances and regulations regarding environmental issues. Management is not aware of any environmental liability that it believes would have a materially adverse impact on our financial position, results of operations or cash flows. Management is unaware of any instances in which it would incur significant environmental cost if any of our properties were sold.

Capital and Ground Leases Arrangements

The following is a schedule of future minimum lease payments under capital leases and non-cancellable operating leases with initial terms in excess of one year as of June 30, 2018 (in thousands):



	Capital lease			Non-cancellable operating leases
Remaining 2018	$	5,324		$	17,917
2019	10,826			35,943
2020	11,245			36,435
2021	11,635			36,751
2022	11,856			34,723
2023	12,083			32,548
Thereafter	1,391,127			1,008,718
Total minimum lease payments	$	1,454,096		$	1,203,035
Amount representing interest	(1,145,484		)
Amount classified within liabilities held for sale ⁽¹⁾	(265,391		)
Capital lease obligations	$	43,221


(1)	Related to the ground lease at 2 Herald Square, which is under contract for sale of a joint venture interest and has been classified as held for sale as of June 30, 2018.