Dispositions

New York

On June 21, 2018, we completed the $45,000,000 sale of 27 Washington Square North, which resulted in a net gain of $23,559,000 which is included in “net gains on disposition of wholly owned and partially owned assets” on our consolidated statements of income. We acquired the property in December 2015 for $20,000,000.

Discontinued Operations

We have reclassified the revenues and expenses of our former Washington, DC segment which was spun off on July 17, 2017 and other related retail assets that were sold to “income (loss) from discontinued operations” and the related assets and liabilities to “assets related to discontinued operations” and “liabilities related to discontinued operations” for all periods presented in the accompanying financial statements. The tables below set forth the assets and liabilities related to discontinued operations as of September 30, 2018 and December 31, 2017, and their combined results of operations and cash flows for the three and nine months ended September 30, 2018 and 2017.



(Amounts in thousands)	Balance as of
	September 30, 2018		December 31, 2017
Assets related to discontinued operations:
Other assets	$	74	$	1,357

Liabilities related to discontinued operations:
Other liabilities	$	205	$	3,620



(Amounts in thousands)	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2018		2017			2018			2017
Income (loss) from discontinued operations:
Total revenues	$	174	$	25,747		$	867		$	260,969
Total expenses	113		21,708			1,104			211,930
	61		4,039			(237		)	49,039
JBG SMITH Properties ("JBGS") spin-off transaction costs	—		(53,581		)	—			(67,045		)
Additional net gains on sale of real estate	—		1,530			618			3,797
Income from partially-owned entities	—		93			—			435
Pretax income (loss) from discontinued operations	61		(47,919		)	381			(13,774		)
Income tax expense	—		(11		)	—			(727		)
Income (loss) from discontinued operations	$	61	$	(47,930	)	$	381		$	(14,501	)



(Amounts in thousands)	For the Nine Months Ended September 30,
	2018			2017
Cash flows related to discontinued operations:
Cash flows from operating activities	$	(1,751	)	$	39,581
Cash flows from investing activities	—			(48,377		)