XML 45 R24.htm IDEA: XBRL DOCUMENT v3.22.0.1
220 Central Park South
12 Months Ended
Dec. 31, 2021
Real Estate [Abstract]  
220 Central Park South 220 Central Park South
During the year ended December 31, 2021, we closed on the sale of six condominium units at 220 CPS for net proceeds of $137,404,000 resulting in a financial statement net gain of $50,318,000 which is included in "net gains on disposition of wholly owned and partially owned assets" on our consolidated statements of income. In connection with these sales, $5,711,000 of income tax expense was recognized on our consolidated statements of income. In addition, during 2021 our taxable REIT subsidiaries recognized a $27,910,000 income tax benefit on our consolidated statements of income. From inception to December 31, 2021, we have closed on the sale of 106 units for net proceeds of $3,006,896,000 resulting in financial statement net gains of $1,117,255,000.
As of December 31, 2021, 95% of the condominium units have been sold.