Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| REVENUES | ||||
| Rental revenues | $ 51,589 | $ 53,392 | $ 106,504 | $ 114,789 |
| EXPENSES | ||||
| Operating, including fees to Vornado of $1,590, $1,345, $3,182 and $3,104, respectively | (25,934) | (24,991) | (51,498) | (50,254) |
| Depreciation and amortization | (8,707) | (8,697) | (17,306) | (18,174) |
| General and administrative, including management fees to Vornado of $610, $610, $1,220 and $1,220, respectively | (1,955) | (2,159) | (3,546) | (3,635) |
| Total expenses | (36,596) | (35,847) | (72,350) | (72,063) |
| Interest and other income | 3,928 | 7,054 | 7,873 | 14,216 |
| Interest and debt expense | (12,801) | (16,219) | (23,595) | (32,453) |
| Net income | $ 6,120 | $ 8,380 | $ 18,432 | $ 24,489 |
| Net income per common share - basic (in usd per share) | $ 1.19 | $ 1.63 | $ 3.59 | $ 4.77 |
| Net income per common share - diluted (in usd per share) | $ 1.19 | $ 1.63 | $ 3.59 | $ 4.77 |
| Weighted average shares outstanding - basic (in shares) | 5,134,599 | 5,131,902 | 5,134,069 | 5,131,290 |
| Weighted average shares outstanding - diluted (in shares) | 5,134,599 | 5,131,902 | 5,134,069 | 5,131,290 |
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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