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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule Of Ground Lease Arrangements
The table below summarizes our current lease arrangements as of December 31, 2021:
Property (1)
Year of Current Expiration
Year of Final Expiration (2)
625 Madison Avenue20222054
711 Third Avenue (3)
20332083
1185 Avenue of the Americas20432043
SL Green Headquarters at One Vanderbilt (4)
20432048
420 Lexington Avenue20502080
SUMMIT One Vanderbilt20582070
885 Third Avenue20802080
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)The Company owns 50% of the fee interest.
(4)In March 2021, the Company commenced its lease for its corporate headquarters at One Vanderbilt. See note 10, "Related Party Transactions."
(5)A portion of the lease is classified as a financing lease, which was classified as held for sale as of December 31, 2021.
(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 one year as of December 31, 2021 (in thousands):
Financing leases
Operating leases (1)
2022$3,523 $36,776 
20233,570 48,680 
20243,641 54,545 
20253,810 54,772 
20263,858 54,911 
Thereafter256,691 1,395,533 
Total minimum lease payments$275,093 $1,645,217 
Amount representing interest(149,563)— 
Amount discounted using incremental borrowing rate— (786,280)
Total lease liabilities excluding liabilities related to assets held for sale$125,530 $858,937 
Leases reclassified to liabilities related to assets held for sale(22,616)(7,567)
Total lease liabilities$102,914 $851,370 
Schedule of future minimum rental payments for opeating leases one year as of December 31, 2021 (in thousands):
Financing leases
Operating leases (1)
2022$3,523 $36,776 
20233,570 48,680 
20243,641 54,545 
20253,810 54,772 
20263,858 54,911 
Thereafter256,691 1,395,533 
Total minimum lease payments$275,093 $1,645,217 
Amount representing interest(149,563)— 
Amount discounted using incremental borrowing rate— (786,280)
Total lease liabilities excluding liabilities related to assets held for sale$125,530 $858,937 
Leases reclassified to liabilities related to assets held for sale(22,616)(7,567)
Total lease liabilities$102,914 $851,370 
Lease, Cost
The following table provides lease cost information for the Company's operating leases for the twelve months ended December 31, 2021 and 2020 (in thousands):
Twelve Months Ended December 31,
Operating Lease Costs20212020
Operating lease costs before capitalized operating lease costs$30,270 $32,169 
Operating lease costs capitalized(3,716)(3,126)
Operating lease costs, net (1)
$26,554 $29,043 
(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, 2021 and 2020 (in thousands):
Twelve Months Ended December 31,
Financing Lease Costs20212020
Interest on financing leases before capitalized interest$5,448 $8,091 
Interest on financing leases capitalized— (2,378)
Interest on financing leases, net (1)
5,448 5,713 
Amortization of right-of-use assets (2)
660 1,200 
Financing lease costs, net$6,108 $6,913 
(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.