v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Real estate, at cost:    
Land $ 30,624 $ 32,271
Buildings and leasehold improvements 972,327 1,069,350
Development and construction in progress 0 2,150
Total 1,002,951 1,103,771
Accumulated depreciation and amortization (428,538) (473,141)
Real estate, net 574,413 630,630
Cash and cash equivalents 76,243 128,167
Restricted cash 75,808 64,058
Tenant and other receivables 2,523 4,109
Receivable arising from the straight-lining of rents 108,572 109,078
Deferred leasing costs, net, including unamortized leasing fees to Vornado of $20,069 and $20,649, respectively 147,788 152,914
Property held for sale 54,654 0
Other assets 56,291 21,752
Assets 1,096,292 1,110,708
LIABILITIES AND EQUITY    
Mortgages payable, net of deferred debt issuance costs 832,002 829,451
Accounts payable and accrued expenses 38,030 36,538
Lease incentive liability 113,618 113,618
Total liabilities 1,005,568 1,001,552
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 35,159
Retained earnings 50,751 69,201
Accumulated other comprehensive income (loss) 9 (9)
Equity before treasury stock 91,092 109,524
Treasury stock: 66,160 shares, at cost (368) (368)
Total equity 90,724 109,156
Total liabilities and equity 1,096,292 1,110,708
Related Party    
LIABILITIES AND EQUITY    
Other liabilities 0 134
Nonrelated Party    
LIABILITIES AND EQUITY    
Other liabilities $ 21,918 $ 21,811