Note 8 - Related-party Transactions |
3 Months Ended |
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Mar. 31, 2026 | |
| Notes to Financial Statements | |
| Related Party Transactions Disclosure [Text Block] |
8. Related-Party Transactions
The Company recorded office and overhead expenses pertaining to a related company in general and administrative expense of $60 and $58 for the three months ended March 31, 2026, and 2025 respectively. The Company recognized a charge/(credit) to reimbursable payroll expense pertaining to a related company in general and administrative expense of $(117) and $(47) for the three months ended March 31, 2026, and 2025,
On October 10, 2024, the Company guaranteed an agreement between the Company's subsidiary, 250 Livingston Owner LLC, and Iron Hound Management Company LLC (“Iron Hound”), whose principal is the Company's director Roberto Verrone, to provide consulting services regarding the loan related to the 250 Livingston Street property. The initial fee paid upon the agreement is $125 and the agreement also includes restructuring and other fees payable upon certain loan modifications. The arrangement was approved by an independent committee of the Company’s board of directors. 141 Livingston Owner LLC, engaged Ironhound to assist in negotiating a settlement to its litigation related to mortgage loan, see Note 7 above. During the three months ended March 31, 2026, The Company paid Ironhound $500 for its services, The payment had been accrued and was included in the Consolidated Statement of Operations for the year ended December 31, 2025. The arrangement was approved by an independent committee of the Company’s board of directors.
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