All three towers currently under construction are now 86% presold and are all progressing on time and on budget.
In addition, new home sales, a leading indicator of future land sales, grew 23% year-over-year.
Summerlin had an all-around great quarter, selling 49 acres of residential land, while also increasing its price per acre 14% compared to the same period last year.
Additionally, Summerlin saw a 66% year-over-year increase in new home sales, demonstrating the demand from homebuyers in this region remains strong.
The Summit's increase in earnings was due to closing of 16 units during the quarter versus three units during the prior year period.
In Bridgeland, land sales softened in the quarter with 25 acres of residential land sold compared to 38 acres in the prior year period.
Lastly, we relaunched our Summer Concert Series on The Rooftop at Pier 17, which was canceled last year due to the pandemic.
Our Operating Assets segment generated NOI of $57.9 million in the quarter, which was a material improvement year-over-year and sequentially.
Retail NOI increased for the third consecutive period totaling $14.8 million in the quarter, increasing 72% year-over-year and 23% sequentially.
Specifically in Downtown Summerlin, we are beginning to see activity surpass pre-pandemic levels as sales per square foot in June totaled $668 compared to $636 in June of 2019.
Our retail assets have continued to improve with consecutive increases in collection rates, which have been steadily improved to 80% from a low of 50% in the second quarter of last year.
Our hotels have experienced a meaningful recovery and during the quarter, generated $2.7 million of NOI compared to a slight loss in the prior quarter and a $1.8 million loss in the prior year period.
The Las Vegas Ballpark had a tremendous quarter, generating quarterly NOI of $3.1 million.
This was substantially higher than the $1.1 million loss reported during the prior year period due to the cancellation of the Minor League Baseball season in 2020.
The continuous lease-up of our latest multifamily assets helped drive quarterly NOI to $7.4 million, a 94% increase year-over-year and a 29% increase sequentially.
Office NOI increased 2% sequentially to $26.3 million as strong leasing velocity more than offset the tenant expirations experienced during the prior quarter.
Year-to-date, we have executed 216,000 square feet of new and renewal leases with 95% of that activity occurring in the second quarter.
In addition, we have nearly 300,000 square feet of leases in progress, predominantly concentrated in the Woodlands.
Furthermore, we have limited lease expirations that do not exceed 10% of our office portfolio during a given year until 2025.
As I mentioned during our Investor Day and on last quarter's call, we plan to develop a single-family for rent community in Bridgeland that will encompass 263 homes distributed across three product types.
At 250 Water Street, we continue to advance our plans for this site following the New York City Landmark Preservation Commission's approval of our proposed design for a 28-story mixed-use building.
Additionally, we have agreed with the city on an extension to our ground lease to 99 years, subject to a separate land use review process, which will also include our contribution to the Seaport Museum's revival, improvements to the Esplanade and the opening of an important drive way around the Tin Building.
During the quarter, we contracted to sell 45 condos, which has further reduced our already limited supply of available units.
And of its 349 units, only 23 condos remain, which speaks to the level of demand we are seeing in Ward Village.
Our other two towers under construction, 'A'ali'i and Ko'ula are well sold at 87% and 81% and remain on time and on budget, with completion expected in the fourth quarter of 2021 and 2022, respectively.
Finally, we sold out our third condo tower in Hawaii during the quarter with the closing of the final unit at Anaha for $12.9 million.
First, our MPCs delivered strong results in the quarter with earnings before taxes, or EBT, of $69.8 million, which is a 10% increase compared to an EBT of $63.4 million in the prior quarter and a 66% increase compared to an EBT of $42.2 million in the prior year period.
Next, our operating assets generated $57.9 million of quarterly NOI, which represented a 20% increase compared to an NOI of $48.4 million in the prior quarter, and a 42% increase compared to an NOI of $40.8 million in the prior year period.
Lastly, we sold 45 condo units in Hawaii, just one shy of the 46 units sold in the prior quarter and a 246% increase compared to the 13 units sold in the prior year period.
At the Seaport, we recorded a $4.4 million loss in NOI, which is only 1% lower compared to the prior quarter and 18% lower compared to an NOI loss of $3.7 million in the prior year period.
For the second quarter, we reported a net income of $4.8 million or $0.09 per diluted share compared to a net loss of $34.1 million or $0.61 per diluted share during the prior year period.
To reiterate our 2021 guidance, we expect MPC EBT to range between $210 million to $230 million and expect operating asset NOI to range between $195 million to $205 million.
For the first half of 2021, our G&A totaled $42.1 million, representing a 31% decrease compared to $61.3 million in the prior year period.
Based on our current run rate, we expect G&A to be within our guidance range of $80 million to $85 million in 2021.
Based on the presale volume at 'A'ali'i as well as our other sales at Ko'ula and Anaha, we remain confident we can generate between $100 million to $125 million of condo profits in 2021, which was our original guidance for the full year.
In May, we sold Monarch City, a 229-acre land parcel outside of Dallas, resulting in a book gain of $21.3 million before realizing a noncash tax expense of $4.6 million.
This sale generated net proceeds of $49.9 million, bringing our total net proceeds from noncore asset sales to $263.7 million since the fourth quarter of 2019.
We ended the quarter with just over $1.2 billion of liquidity that comprised of $1.1 billion of cash and $185 million of undrawn revolving credit facility.
We have nearly 10,000 acres of raw land across the country that enables us to repeat this process for decades to come.

Summary:
For the second quarter, we reported a net income of $4.8 million or $0.09 per diluted share compared to a net loss of $34.1 million or $0.61 per diluted share during the prior year period.