OTHER ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2016

Summary of the significant components of prepaid expenses and other assets

	March 31,		December 31,
(In thousands)	2016		2015
Condominium receivables (a)	$	307,464	$	191,037
Condominium deposits		62,523		55,749
Special Improvement District receivable		72,575		72,558
In-place leases		20,245		22,139
Below-market ground leases		19,240		19,325
Above-market tenant leases		3,348		3,581
Equipment, net of accumulated depreciation of $4.3 million and $3.9 million, respectively		19,343		18,772
Security and escrow deposits		8,854		17,599
Tenant incentives and other receivables		10,117		10,480
Prepaid expenses		10,331		8,474
Federal income tax receivable		10,577		11,972
Intangibles		4,006		4,045
Uncertain tax position asset		117		112
Other		2,199		5,347
	$	550,939	$	441,190

(a)

Of the total Condominium receivables, $249.4 million are expected to be collected in 2016 and $58.1 million are expected to be collected in 2017, consistent with anticipated closings of the respective condominium projects.

Summary of the significant components of accounts payable and accrued expenses


	March 31,		December 31,
(In thousands)	2016		2015
Construction payables	$	194,052	$	185,731
Deferred income		135,672		117,700
Condominium deposit liabilities		61,906		50,192
Accounts payable and accrued expenses		42,716		33,928
Tenant and other deposits		31,936		31,193
Accrued interest		29,535		16,504
Accrued payroll and other employee liabilities		15,603		31,271
Accrued real estate taxes		7,171		15,134
Interest rate swaps		19,214		4,217
Above-market ground leases		2,073		2,113
Other		24,743		27,371
	$	564,621	$	515,354