Annual report pursuant to Section 13 and 15(d)

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Tables)

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TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Tables)
12 Months Ended
Dec. 31, 2016
Transactions With Affiliates And Affiliated Entity [Abstract]  
Schedule of amounts Incurred under management agreement
To provide an incentive for the Manager to enhance the value of the common stock, the Manager is entitled to receive an incentive return (the “Incentive Compensation’’) on a cumulative, but not compounding, basis in an amount equal to the product of (A) 25% of the dollar amount by which (1) (a) the Funds from Operations (defined as the net income applicable to common stockholders before Incentive Compensation, excluding extraordinary items, plus depreciation of operating real estate and after adjustments for unconsolidated subsidiaries, if any) of Drive Shack Inc. per share of common stock (based on the weighted average number of shares of common stock outstanding) plus (b) gains (or losses) from debt restructuring and from sales of property and other assets per share of common stock (based on the weighted average number of shares of common stock outstanding), exceed (2) an amount equal to (a) the weighted average of the price per share of common stock in the initial public offering (“IPO”) and the value attributed to the net assets transferred to Drive Shack Inc. by its predecessor, and in any subsequent offerings by Drive Shack Inc. (adjusted for prior return of capital dividends or capital distributions) multiplied by (b) a simple interest rate of 10% per annum (divided by four to adjust for quarterly calculations) multiplied by (B) the weighted average number of shares of common stock outstanding.
 
Amounts incurred under the Management
Agreement
 
2016
 
2015
 
2014
Management Fees
$
10,204

 
$
10,192

 
$
20,539

Expense Reimbursement to the Manager
500

 
500

 
500

Incentive Compensation

 

 

Total management fees to affiliate
$
10,704

 
$
10,692

 
$
21,039