v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate, at cost:    
Land $ 32,271 $ 32,271
Buildings and leasehold improvements 1,069,350 1,046,132
Development and construction in progress 2,150 6,794
Total 1,103,771 1,085,197
Accumulated depreciation and amortization (473,141) (443,627)
Real estate, net 630,630 641,570
Cash and cash equivalents 128,167 338,532
Restricted cash 64,058 55,304
Tenant and other receivables 4,109 5,112
Receivable arising from the straight-lining of rents 109,078 111,750
Deferred leasing costs, net, including unamortized leasing fees to Vornado of $20,649 and $22,380, respectively 152,914 163,677
Other assets 21,752 25,350
Assets 1,110,708 1,341,295
LIABILITIES AND EQUITY    
Mortgages payable, net of deferred debt issuance costs 829,451 988,019
Accounts payable and accrued expenses 36,538 38,743
Lease incentive liabilities 113,618 115,118
Total liabilities 1,001,552 1,164,436
Commitments and contingencies
Preferred stock: $1.00 par value per share; authorized, 3,000,000 shares; issued and outstanding, none 0 0
Common stock: $1.00 par value per share; authorized, 10,000,000 shares; issued, 5,173,450 shares; outstanding, 5,107,290 shares 5,173 5,173
Additional capital 35,159 34,765
Retained earnings 69,201 133,402
Accumulated other comprehensive (loss) income (9) 3,887
Equity before treasury stock 109,524 177,227
Treasury stock: 66,160 shares, at cost (368) (368)
Total equity 109,156 176,859
Total liabilities and equity 1,110,708 1,341,295
Related Party    
LIABILITIES AND EQUITY    
Other liabilities 134 1,159
Nonrelated party    
LIABILITIES AND EQUITY    
Other liabilities $ 21,811 $ 21,397