OTHER INTANGIBLE ASSETS

A schedule of our intangible assets and liabilities and related accumulated amortization and accretion as of September 30, 2017 and December 31, 2016 is as follows:



	Assets					Liabilities
September 30, 2017	Acquired In-Place Leases			Trade Name and License		Acquired Below-Market Leases
	(in thousands)
Gross balance	$	10,008		$	2,957	$	(5,073	)
Accumulated amortization	(7,620		)	—		4,166
	$	2,388		$	2,957	$	(907	)
Average useful life (in years)	10			Indefinite		7



	Assets														Liabilities
December 31, 2016	Acquired Above-Market Leases			Acquired In-Place Leases			Tax Abatement (1)			Acquired Below-Market Ground Lease (2)			Trade Name and License		Acquired Below-Market Leases
	(in thousands)
Gross balance	$	215		$	11,551		$	4,273		$	11,685		$	2,957	$	(18,893	)
Accumulated amortization	(180		)	(8,443		)	(2,873		)	(1,562		)	—		15,317
	$	35		$	3,108		$	1,400		$	10,123		$	2,957	$	(3,576	)
Average useful life (in years)	8			10			8			84			Indefinite		8

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(1)	Tax abatement is associated with 47 E 34th Street, which was sold during the nine months ended September 30, 2017 (Note 3).


(2)	Acquired below-market ground lease is associated with 800 N Capitol Street, which was sold during the nine months ended September 30, 2017 (Note 3).

The amortization of the acquired above-market leases which decreased rental and other property income was $0 and $17,000 for the three months ended September 30, 2017 and 2016, respectively, and $3,000 and $81,000 for the nine months ended September 30, 2017 and 2016, respectively. The amortization of the acquired in-place leases included in depreciation and amortization expense was $212,000 and $330,000 for the three months ended September 30, 2017 and 2016, respectively, and $623,000 and $1,078,000 for the nine months ended September 30, 2017 and 2016, respectively. Included in depreciation and amortization expense was franchise affiliation fee amortization of $0 and $0 for the three months ended September 30, 2017 and 2016, respectively, and $0 and $33,000 for the nine months ended September 30, 2017 and 2016, respectively. Tax abatement amortization of $0 and $138,000 for the three months ended September 30, 2017 and 2016, respectively, and $276,000 and $414,000 for the nine months ended September 30, 2017 and 2016, respectively, was included in rental and other property operating expenses. The amortization of the acquired below-market ground lease of $23,000 and $35,000 for the three months ended September 30, 2017 and 2016, respectively, and $93,000 and $105,000 for the nine months ended September 30, 2017 and 2016, respectively, was included in rental and other property operating expenses. The amortization of the acquired below-market leases included in rental and other property income was $231,000 and $630,000 for the three months ended September 30, 2017 and 2016, respectively, and $869,000 and $1,892,000 for the nine months ended September 30, 2017 and 2016, respectively.

A schedule of future amortization and accretion of acquisition related intangible assets and liabilities as of September 30, 2017, is as follows:



	Assets		Liabilities
Years Ending December 31,	Acquired In-Place Leases		Acquired Below-Market Leases
	(in thousands)
2017 (Three months ending December 31, 2017)	$	185	$	(197	)
2018	718		(510		)
2019	459		(200		)
2020	202		—
2021	202		—
Thereafter	622		—
	$	2,388	$	(907	)