Exception in thread "main" java.lang.OutOfMemoryError: GC overhead limit exceeded using Stanford CoreNLP

While setting up Stanford CoreNLP, I am running into following exception since a long time:

Exception in thread "main" java.lang.OutOfMemoryError: GC overhead limit exceeded
    at java.lang.StringBuilder.toString(StringBuilder.java:407)
    at java.io.ObjectInputStream$BlockDataInputStream.readUTFBody(ObjectInputStream.java:3388)
    at java.io.ObjectInputStream$BlockDataInputStream.readUTF(ObjectInputStream.java:3183)
    at java.io.ObjectInputStream.readString(ObjectInputStream.java:1863)
    at java.io.ObjectInputStream.readObject0(ObjectInputStream.java:1526)
    at java.io.ObjectInputStream.readObject(ObjectInputStream.java:422)
    at java.util.HashMap.readObject(HashMap.java:1402)
    at sun.reflect.GeneratedMethodAccessor2.invoke(Unknown Source)
    at sun.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:43)
    at java.lang.reflect.Method.invoke(Method.java:498)
    at java.io.ObjectStreamClass.invokeReadObject(ObjectStreamClass.java:1058)
    at java.io.ObjectInputStream.readSerialData(ObjectInputStream.java:2136)
    at java.io.ObjectInputStream.readOrdinaryObject(ObjectInputStream.java:2027)
    at java.io.ObjectInputStream.readObject0(ObjectInputStream.java:1535)
    at java.io.ObjectInputStream.defaultReadFields(ObjectInputStream.java:2245)
    at java.io.ObjectInputStream.readSerialData(ObjectInputStream.java:2169)
    at java.io.ObjectInputStream.readOrdinaryObject(ObjectInputStream.java:2027)
    at java.io.ObjectInputStream.readObject0(ObjectInputStream.java:1535)
    at java.io.ObjectInputStream.readObject(ObjectInputStream.java:422)
    at edu.stanford.nlp.io.IOUtils.readObjectFromURLOrClasspathOrFileSystem(IOUtils.java:310)
    at edu.stanford.nlp.coref.statistical.FeatureExtractor.loadVocabulary(FeatureExtractor.java:90)
    at edu.stanford.nlp.coref.statistical.FeatureExtractor.<init>(FeatureExtractor.java:75)
    at edu.stanford.nlp.coref.statistical.StatisticalCorefAlgorithm.<init>(StatisticalCorefAlgorithm.java:63)
    at edu.stanford.nlp.coref.statistical.StatisticalCorefAlgorithm.<init>(StatisticalCorefAlgorithm.java:44)
    at edu.stanford.nlp.coref.CorefAlgorithm.fromProps(CorefAlgorithm.java:30)
    at edu.stanford.nlp.coref.CorefSystem.<init>(CorefSystem.java:40)
    at edu.stanford.nlp.pipeline.CorefAnnotator.<init>(CorefAnnotator.java:69)
    at edu.stanford.nlp.pipeline.AnnotatorImplementations.coref(AnnotatorImplementations.java:218)
    at edu.stanford.nlp.pipeline.StanfordCoreNLP.lambda$getNamedAnnotators$17(StanfordCoreNLP.java:641)
    at edu.stanford.nlp.pipeline.StanfordCoreNLP$$Lambda$27/1579572132.apply(Unknown Source)
    at edu.stanford.nlp.pipeline.StanfordCoreNLP.lambda$null$33(StanfordCoreNLP.java:711)
    at edu.stanford.nlp.pipeline.StanfordCoreNLP$$Lambda$40/2104457164.get(Unknown Source)

System Details:

MacOS
java version "1.8.0_131"
Java(TM) SE Runtime Environment (build 1.8.0_131-b11)
Java HotSpot(TM) 64-Bit Server VM (build 25.131-b11, mixed mode)

Command for which the exception occurs:

java edu.stanford.nlp.pipeline.StanfordCoreNLP -file input.txt

I think I also have setup the right CLASSPATH. See the result for echo $CLASSPATH

:/Users/krishna/Downloads/NLP/stanford-corenlp-4.5.1/*