In May 2026, we closed on the acquisition of land underlying the properties at 111 West 33rd Street and 1400 Broadway for an aggregate purchase price of $110.0 million. The land was previously subject to ground leases in which the Company served as the lessee, which carried remaining ground lease terms of approximately 51 and 38 years, respectively. As a result of the acquisition, the Company was released from its obligations under the ground leases and the right-of-use assets, including the related below-market ground leases, net, of $288.1 million and lease liability of $26.8 million. The carrying amount of the land was adjusted for these items.

In December 2025, we closed on the acquisition of 130 Mercer Street (555-557 Broadway, "The Scholastic Building"), located in the SoHo submarket of Manhattan, for a purchase price of $386.0 million. In connection with the acquisition, we entered into a lease with the former owner for approximately 0.2 million square feet of office space in the building, with an initial term of 15-years and two renewal options of ten years each. The remaining office space, amenity and common areas of the building are under redevelopment.


						Intangibles
Property	Date Acquired	Land		Building and Improvements		Assets		Liabilities		Total
111 West 33rd Street(1)	5/20/2026	$	52,607	$	—	$	—	$	—	$	52,607
1400 Broadway(1)	5/20/2026	61,728		—		—		—		61,728
North 6th Street Collection(2)	3/27/2026	6,604		39,875		—		—		46,479
130 Mercer(3)	12/17/2025	66,309		247,994		91,207		(25,180)		380,330
North 6th Street Collection(4)	6/30/2025	11,243		20,458		—		—		31,701
(1) Includes capitalized transaction costs of $2.0 million for 111 West 33rd Street and $2.3 million for 1400 Broadway. (2) Includes approximately 22,000 square feet of retail space on North 6th Street in Williamsburg, which is newly constructed. Includes capitalized transaction costs and closing credits amounting to $0.5 million. (3) Includes approximately 396,000 square feet of space, comprised of 368,000 square feet of office space and 28,000 square feet of retail space. Includes capitalized transaction costs and closing credits amounting to $(5.7) million. (4) Includes two retail properties with eleven residential units on North 6th Street in Williamsburg, Brooklyn. Includes capitalized transaction costs of $0.7 million.


Property	Date of Disposal	Sales Price		Gain on Disposition
250 West 57th Street, New York, New York(1)	6/1/2026	$	275,000	$	124,622
Metro Center, Stamford, Connecticut(2)	12/22/2025	64,000		21,848
(1) In connection with the sale of 250 West 57th Street, the purchaser assumed the property's outstanding $180.0 million mortgage. (2) In connection with the sale of Metro Center, we repaid the related $71.6 million mortgage.

On February 5, 2025, the consensual foreclosure of First Stamford Place that commenced in 2024 was completed and we were released of the senior mortgage obligation and derecognized the related contract asset. In connection with the completion of the consensual foreclosure we concluded that we are no longer the primary beneficiary of the entity that holds the First Stamford Place mezzanine debt obligation as we no longer have the power to direct the activities that most significantly impact the VIE's economic performance, nor the right to receive the benefits from the VIE. As a result, the entity was deconsolidated during the three months ended March 31, 2025 and we recognized a gain of $13.2 million from the mezzanine debt obligation. The gain is included as a component of gain on disposition of properties in the accompanying consolidated statement of operations.