XML 57 R37.htm IDEA: XBRL DOCUMENT v3.20.4
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Schedule of estimated useful lives
Properties other than Right of use assets - operating leases are depreciated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows:
CategoryTerm
Building (fee ownership)40 years
Building improvementsshorter of remaining life of the building or useful life
Building (leasehold interest)
lesser of 40 years or remaining term of the lease
Right of use assets - financing leases
lesser of 40 years or remaining lease term
Furniture and fixtures
4 to 7 years
Tenant improvementsshorter of remaining term of the lease or useful life
Summary of identified intangible assets (acquired above-market leases and in-place leases) and intangible liabilities (acquired below-market leases)
The following summarizes our identified intangible assets (acquired above-market leases and in-place leases) and intangible liabilities (acquired below-market leases) as of December 31, 2020 and 2019 (in thousands):
December 31,
20202019
Identified intangible assets (included in other assets):
Gross amount$215,673 $255,198 
Accumulated amortization(190,523)(228,223)
Net (1)
$25,150 $26,975 
Identified intangible liabilities (included in deferred revenue):
Gross amount$241,409 $282,048 
Accumulated amortization(230,479)(249,514)
Net (1)
$10,930 $32,534 
(1)    As of December 31, 2020, no net intangible assets and no net intangible liabilities were reclassified to assets held for sale and liabilities related to assets held for sale. As of December 31, 2019, no net intangible assets and no net intangible liabilities were reclassified to assets held for sale and liabilities related to assets held for sale.
Schedule of estimated annual amortization of acquired above-market leases, net of acquired below-market leases
The estimated annual amortization of acquired above-market leases, net of acquired (below-market) leases (a component of rental revenue), for each of the five succeeding years is as follows (in thousands):    
2021(1,403)
2022(119)
202391 
2024258 
2025781 
Schedule of estimated annual amortization of all other identifiable assets
The estimated annual amortization of all other identifiable assets (a component of depreciation and amortization expense) including tenant improvements for each of the five succeeding years is as follows (in thousands):
20214,899 
20223,456 
20232,841 
20242,520 
20251,427 
Schedule of marketable securities
At December 31, 2020 and 2019, we held the following marketable securities (in thousands):
December 31,
20202019
Commercial mortgage-backed securities$28,570 $29,887 
Total marketable securities available-for-sale$28,570 $29,887 
Schedules of concentration of risk, by risk factor
For the years ended December 31, 2020, 2019, and 2018, the following properties contributed more than 5.0% of our annualized cash rent from office properties, including our share of annualized cash rent from joint venture office properties:
Property2020Property2019Property2018
 11 Madison Avenue 8.2%1185 Avenue of the Americas7.6%11 Madison Avenue7.4%
 420 Lexington Ave (Graybar) 7.5%11 Madison Avenue7.4%1185 Avenue of the Americas6.7%
 1185 Avenue of the Americas 6.9%420 Lexington Avenue6.6%420 Lexington Avenue6.5%
 1515 Broadway 6.6%1515 Broadway6.1%1515 Broadway6.0%
 220 East 42nd Street 5.9%One Madison Avenue6.0%One Madison Avenue5.8%
 280 Park Avenue 5.4%
220 East 42nd Street
5.5%