OTHER ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2016

Summary of the significant components of prepaid expenses and other assets


	June 30,		December 31,
(In thousands)	2016		2015
Condominium receivables (a)	$	423,906	$	191,037
Condominium deposits		91,661		55,749
Special Improvement District receivable		72,594		72,558
In-place leases		17,033		22,139
Below-market ground leases		19,155		19,325
Above-market tenant leases		2,714		3,581
Equipment, net of accumulated depreciation of $4.7 million and $3.9 million, respectively		18,182		18,772
Security and escrow deposits		9,855		17,599
Tenant incentives and other receivables		9,873		10,480
Prepaid expenses		8,205		8,474
Federal income tax receivable		12,106		11,972
Intangibles		4,124		4,045
Uncertain tax position asset		143		112
Other		3,080		5,347
	$	692,631	$	441,190

(a)

Of the total Condominium receivables, $329.7 million are expected to be collected in 2016 and $94.2 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


	June 30,		December 31,
(In thousands)	2016		2015
Construction payables	$	193,847	$	185,731
Deferred income		114,634		117,700
Condominium deposit liabilities		87,428		50,192
Accounts payable and accrued expenses		37,687		33,928
Tenant and other deposits		32,896		31,193
Accrued interest		16,627		16,504
Accrued payroll and other employee liabilities		20,142		31,271
Accrued real estate taxes		12,935		15,134
Interest rate swaps		27,729		4,217
Above-market ground leases		2,034		2,113
Other		26,813		27,371
	$	572,772	$	515,354