v3.26.1
Mortgages Payable, Net (Tables)
 3 Months Ended
Mar. 31, 2026
Mortgages Payable Net [Abstract]  
Schedule of mortgages payable, net

Mortgages payable, net consists of the following:

 

Property  Interest Rate  Weighted
Average
Interest Rate
for the
Three
Months
Ended
March 31,
2026		   Maturity Date  Amount
Due at
Maturity		   As of
March 31,
2026		   As of
December 31,
2025		 
                       
Gantry Park Landing  6.30%   6.30%  February 2030  $64,860   $66,358   $66,558 
                           
Lower East Side Moxy Hotel (Senior Loan)  SOFR + 3.25%
(floor of 6.50%)		   6.92%  September 2028   124,700    124,700    124,700 
                           
Lower East Side Moxy Hotel (Junior Loan)  SOFR + 7.75%
(floor of 11.00%)		   11.42%  September 2028   31,310    31,310    31,310 
                           
Total mortgages payable      7.37%     $220,870    222,368    222,568 
                           
Less: Deferred financing costs                   (3,052)   (3,342)
                           
Total mortgages payable, net                  $219,316   $219,226 
Scheduled of contractually principal maturities of mortgage debt

The following table shows the contractually scheduled principal maturities of the Company’s mortgage debt during the next five years and thereafter as of March 31, 2026:

 

   2026   2027   2028   2029   2030   Thereafter   Total 
Principal maturities  $560   $811   $156,137   $-   $64,860   $           -   $222,368 
                                    
Less: Deferred financing costs                                 (3,052)
                                    
Total principal maturities, net                                $219,316