OTHER ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2015

OTHER ASSETS AND LIABILITIES

Summary of the significant components of prepaid expenses and other assets

	December 31,		December 31,
(In thousands)	2015		2014
Condominium receivables (a)	$	191,037	$	—
Condominium deposits		55,749		151,592
Special Improvement District receivable		72,558		33,318
In-place leases		22,139		32,715
Below-market ground leases		19,325		19,663
Above-market tenant leases		3,581		4,656
Equipment, net of accumulated depreciation of $3.9 million and $2.4 million, respectively		18,772		20,284
Security and escrow deposits		17,599		9,829
Tenant incentives and other receivables		10,480		14,264
Prepaid expenses		8,474		9,196
Federal income tax receivable		11,972		8,629
Intangibles		4,045		3,593
Uncertain tax position asset		112		383
Other		5,347		2,014
	$	441,190	$	310,136

Summary of the significant components of accounts payable and accrued expenses

	December 31,		December 31,
(In thousands)	2015		2014
Construction payables	$	185,731	$	170,935
Deferred income		113,122		65,675
Condominium deposits		50,192		82,150
Accounts payable and accrued expenses		33,928		34,154
Accrued payroll and other employee liabilities		31,271		25,838
Tenant and other deposits		31,193		12,756
Accrued interest		16,504		14,791
Accrued real estate taxes		15,134		9,903
Interest rate swaps liability		4,217		3,144
Above-market ground leases		2,113		2,272
Membership deposits		—		21,023
Other		31,949		23,376
	$	515,354	$	466,017