v3.26.1
MORTGAGE LOANS AND NOTES PAYABLE (Tables) - Mortgage Loans
6 Months Ended
Jun. 30, 2026
MORTGAGE LOANS AND NOTES PAYABLE  
Summary of debt

Carrying Value as of

  ​ ​ ​

June 30,

December 31,

  ​ ​ ​

Effective

Maturity

Mortgage Loans and Notes Payable

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

Interest Rate

Date

(in thousands)

Long Island City II, NY

$

16,627

$

16,880

2.25

%  

Jul-26

Long Island City III, NY

16,626

16,880

2.25

%  

Aug-26

Allen, TX (1)

7,122

7,226

6.29

%  

Aug-26

Flushing II, NY

54,300

54,300

2.15

%  

Jul-29

Principal balance outstanding

94,675

95,286

Plus: Unamortized fair value adjustment

3,255

 

3,969

Less: Loan procurement costs, net

(293)

(396)

Total mortgage loans and notes payable, net

$

97,637

$

98,859

(1)The Company owns an 85% interest in a consolidated joint venture that is the borrower on this mortgage loan.
Schedule of the future principal payment requirements on the outstanding mortgage loans and notes payable The following table represents the future principal payment requirements on the outstanding mortgage loans and notes payable as of June 30, 2026 (in thousands):

2026

  ​ ​ ​

$

40,375

2027

 

2028

 

2029

 

54,300

2030

 

2031 and thereafter

 

Total principal payments

$

94,675