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Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of ground lease arrangements
The table below summarizes our current lease arrangements as of June 30, 2021:
Property (1)
Year of Current Expiration
Year of Final Expiration (2)
1185 Avenue of the Americas20432043
SL Green Headquarters at One Vanderbilt (3)
20432048
625 Madison Avenue20222054
420 Lexington Avenue20502080
885 Third Avenue20802080
711 Third Avenue (4)
20332083
1080 Amsterdam Avenue (5)
21112111
15 Beekman (6)(7)
21192119
(1)All leases are classified as operating leases unless otherwise specified.
(2)Reflects exercise of all available extension options.
(3)In March 2021, the Company commenced its lease for its corporate headquarters at One Vanderbilt. See note 10, "Related Party Transactions."
(4)The Company owns 50% of the fee interest.
(5)A portion of the lease is classified as a financing lease.
(6)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.
(7)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
The following is a schedule of future minimum lease payments as evaluated in accordance with ASC 842 for our financing leases and operating leases with initial terms in excess of one year as of June 30, 2021 (in thousands):
Financing leasesOperating leases
Remaining 2021$1,741 $14,647 
20223,522 29,386 
20233,570 29,502 
20243,641 30,545 
20253,810 30,772 
20263,858 30,911 
Thereafter256,692 631,532 
Total minimum lease payments$276,834 $797,295 
Amount representing interest(152,026)
Amount discounted using incremental borrowing rate(353,982)
Lease liabilities$124,808 $443,313 
Schedule of future minimum rental payments for operating leases
The following is a schedule of future minimum lease payments as evaluated in accordance with ASC 842 for our financing leases and operating leases with initial terms in excess of one year as of June 30, 2021 (in thousands):
Financing leasesOperating leases
Remaining 2021$1,741 $14,647 
20223,522 29,386 
20233,570 29,502 
20243,641 30,545 
20253,810 30,772 
20263,858 30,911 
Thereafter256,692 631,532 
Total minimum lease payments$276,834 $797,295 
Amount representing interest(152,026)
Amount discounted using incremental borrowing rate(353,982)
Lease liabilities$124,808 $443,313 
Lease, cost
The following table provides lease cost information for the Company's operating leases for the three and six months ended June 30, 2021 and 2020 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
Operating Lease Costs2021202020212020
Operating lease costs before capitalized operating lease costs$7,568 $8,622 $15,135 $16,735 
Operating lease costs capitalized(861)(791)(1,689)(1,537)
Operating lease costs, net (1)
$6,707 $7,831 $13,446 $15,198 
(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 three and six months ended June 30, 2021 and 2020 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
Financing Lease Costs2021202020212020
Interest on financing leases before capitalized interest$1,494 $2,149 $2,986 $3,812 
Interest on financing leases capitalized— (1,043)— (1,790)
Interest on financing leases, net (1)
1,494 1,106 2,986 2,022 
Amortization of right-of-use assets (2)
180 305 360 610 
Financing lease costs, net$1,674 $1,411 $3,346 $2,632 
(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.