OTHER ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2016

Summary of the significant components of prepaid expenses and other assets


	September 30,		December 31,
(In thousands)	2016		2015
Condominium receivables (a)	$	169,642	$	191,037
Condominium deposits		478,251		55,749
Special Improvement District receivable		66,300		72,558
In-place leases		16,254		22,139
Below-market ground leases		19,071		19,325
Above-market tenant leases		2,505		3,581
Equipment, net of accumulated depreciation of $4.9 million and $3.9 million, respectively		17,930		18,772
Security and escrow deposits		10,381		17,599
Tenant incentives and other receivables		8,811		10,480
Prepaid expenses		11,743		8,474
Federal income tax receivable		11,564		11,972
Intangibles		4,085		4,045
Uncertain tax position asset		256		112
Other		3,447		5,347
	$	820,240	$	441,190

(a)

Approximately $32.3 million are expected to be collected in 2016 and $137.3 million are expected to be collected in 2017, based upon anticipated closings of the respective condominium projects.

Summary of the significant components of accounts payable and accrued expenses


	September 30,		December 31,
(In thousands)	2016		2015
Construction payables	$	188,501	$	185,731
Deferred income		104,686		117,730
Condominium deposit liabilities		106,258		50,192
Accounts payable and accrued expenses		42,179		33,928
Tenant and other deposits		33,740		34,894
Accrued interest		29,014		16,504
Accrued payroll and other employee liabilities		24,313		31,271
Accrued real estate taxes		19,875		15,134
Interest rate swaps		27,794		4,217
Straight-line ground rent liability (a)		12,962		10,757
Above-market ground leases		1,994		2,113
Other		11,921		12,883
	$	603,237	$	515,354

(a)

Straight-line ground rent was previously reported in Other.