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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Schedule Of Ground Lease Arrangements December 31, 2020:
Property (1)
Year of Current Expiration
Year of Final Expiration (2)
1185 Avenue of the Americas20432043
625 Madison Avenue20222054
420 Lexington Avenue20502080
711 Third Avenue (3)
20332083
461 Fifth Avenue (4)
20272084
1080 Amsterdam Avenue (5)
21112111
15 Beekman (4)(6)
21192119
(1)All leases are classified as operating leases unless otherwise specified.
(2)Reflects exercise of all available renewal options.
(3)The Company owns 50% of the fee interest.
(4)The Company has an option to purchase the ground lease for a fixed price on a specific date. The lease is classified as a financing lease.
(5)A portion of the lease is classified as a financing lease.
(6)In August 2020, the Company entered into a long-term sublease with an unconsolidated joint venture as part of the capitalization of the 15 Beekman development project. See Note 6, "Investments in Unconsolidated Joint Ventures."
Finance lease, liability, maturity one year as of December 31, 2020 (in thousands):
Financing leases
Operating leases (1)
2021$32,527 $28,534 
20223,523 26,228 
20233,570 23,921 
20243,641 23,939 
20253,810 24,026 
Thereafter260,550 504,360 
Total minimum lease payments$307,621 $631,008 
Amount representing interest(155,100)
Amount discounted using incremental borrowing rate(291,550)
Lease liabilities$152,521 $339,458 
(1)As of December 31, 2020, the total future minimum payments to be received under non-cancelable subleases is $1.7 billion.
Schedule of future minimum rental payments for opeating leases one year as of December 31, 2020 (in thousands):
Financing leases
Operating leases (1)
2021$32,527 $28,534 
20223,523 26,228 
20233,570 23,921 
20243,641 23,939 
20253,810 24,026 
Thereafter260,550 504,360 
Total minimum lease payments$307,621 $631,008 
Amount representing interest(155,100)
Amount discounted using incremental borrowing rate(291,550)
Lease liabilities$152,521 $339,458 
(1)As of December 31, 2020, the total future minimum payments to be received under non-cancelable subleases is $1.7 billion.
Lease, Cost
The following table provides lease cost information for the Company's operating leases for the twelve months ended December 31, 2020 and 2019 (in thousands):
Twelve Months Ended December 31,
Operating Lease Costs20202019
Operating lease costs before capitalized operating lease costs$32,169 $33,235 
Operating lease costs capitalized(3,127)(47)
Operating lease costs, net (1)
$29,043 $33,188 
(1)This amount is included in operating lease rent in our consolidated statements of operations.
The following table provides lease cost information for the Company's financing leases for the twelve months ended December 31, 2020 and 2019 (in thousands):
Twelve Months Ended December 31,
Financing Lease Costs20202019
Interest on financing leases before capitalized interest$8,091 $3,243 
Interest on financing leases capitalized(2,378)— 
Interest on financing leases, net (1)
5,713 3,243 
Amortization of right-of-use assets (2)
1,200 1,219 
Financing lease costs, net$6,913 $4,462 
(1)These amounts are included in interest expense, net of interest income in our consolidated statements of operations.
(2)These amounts are included in depreciation and amortization in our consolidated statements of operations.