Properties Held for Sale and Property Dispositions (Tables)

6 Months Ended

Jun. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Summary of Properties Sold

The following table summarizes the properties disposed of during the six months ended June 30, 2021:

Property	Disposition Date	Property Type	Approximate Square Feet	Gross Asset Valuation (in millions)		Gain (Loss) (in millions) (1)
712 Madison Avenue (2)	January 2021	Fee Interest	6,600	$	43.0	$	(1.4)
133 Greene Street (3)	February 2021	Fee Interest	6,425	15.8		0.2
106 Spring Street (3)	March 2021	Fee Interest	5,928	35.0		(2.8)
635-641 Sixth Avenue	June 2021	Fee Interest	267,000	325.0		99.4

(1)The gain (loss) on sale is net of $5.7 million of employee compensation accrued in connection with the realization of the investment gains during the six months ended June 30, 2021. Additionally, the amounts do not include adjustments for expenses recorded in subsequent periods.

(2)Disposition resulted from the buyer exercising its purchase option under a ground lease arrangement.

(3)In the first quarter of 2021, the property was foreclosed by the lender in conjunction with the related debt extinguishment.