OPERATING LEASES (Tables)
|
12 Months Ended |
Jul. 31, 2026 |
|---|
| Operating Leases |
|
| Schedule of revenues by lease and non-lease components |
| Schedule of revenues by lease and non-lease components | |
| | | |
| | |
| | |
Years Ended July 31, |
|
| | |
2026 |
| |
2025 |
|
| Base rent – fixed | |
$ | 19,065,617 | | |
$ | 20,441,035 | |
| Reimbursements of common area costs | |
| 623,146 | | |
| 740,924 | |
| Non-lease components (real estate taxes) | |
| 1,405,743 | | |
| 1,287,751 | |
| Rental income | |
$ | 21,094,506 | | |
$ | 22,469,710 | |
| | |
| | | |
| | |
| | |
Years Ended July 31, |
|
| | |
2026 |
| |
2025 |
|
| Base rent – fixed | |
| | | |
| | |
| Company owned property | |
$ | 12,394,574 | | |
$ | 13,802,232 | |
| Leased property | |
| 6,671,043 | | |
| 6,638,803 | |
| | |
| 19,065,617 | | |
| 20,441,035 | |
| Reimbursements of common area costs & Non lease components (real estate taxes) | |
| | | |
| | |
| Company owned property | |
| 1,218,149 | | |
| 1,200,313 | |
| Leased property | |
| 810,740 | | |
| 828,362 | |
| | |
| 2,028,889 | | |
| 2,028,675 | |
| Total | |
$ | 21,094,506 | | |
$ | 22,469,710 | |
|
| Schedule of future minimum non-cancelable rental income |
| Schedule of future minimum non-cancelable rental income | |
| | | |
| | | |
| | |
| Year Ended July 31, | |
Company
Owned
Property |
| |
Leased
Property |
| |
Total |
|
| 2027 | |
$ | 10,827,304 | | |
$ | 5,298,439 | | |
$ | 16,125,743 | |
| 2028 | |
| 9,957,317 | | |
| 4,945,095 | | |
| 14,902,412 | |
| 2029 | |
| 9,192,571 | | |
| 4,005,211 | | |
| 13,197,782 | |
| 2030 | |
| 7,550,072 | | |
| 2,356,479 | | |
| 9,906,551 | |
| 2031 | |
| 6,239,965 | | |
| 1,715,591 | | |
| 7,955,556 | |
| After 2031 | |
| 31,895,436 | | |
| 6,647,425 | | |
| 38,542,861 | |
| Total | |
$ | 75,662,665 | | |
$ | 24,968,240 | | |
$ | 100,630,905 | |
|
| Schedule of operating right-of-use assets, liabilities, and monthly rent expense |
| Schedule of operating right-of-use assets, liabilities, and monthly rent expense | |
|
| | |
Jamaica Avenue at 169th Street |
|
| | |
Increase in
Operating
Lease Right-
of-Use Asset |
| |
Increase in
Operating
Lease
Liability |
| |
Decrease in
Monthly
Rent
Expense |
|
| Remeasurement change resulting from August 2025 lease extension | |
$ | 1,575,690 | | |
$ | 1,575,690 | | |
$ | (14,766 | ) |
|
| Schedule of sublease rental income |
| Schedule of sublease rental income | |
| | | |
| | |
| | |
Years Ended July 31, |
|
| | |
2026 |
| |
2025 |
|
| Sublease income | |
$ | 7,481,783 | | |
$ | 7,467,165 | |
| Operating lease cost | |
| (2,820,664 | ) | |
| (2,997,462 | ) |
| Excess of sublease income over lease cost | |
$ | 4,661,119 | | |
$ | 4,469,703 | |
|
| Schedule of other information related to operating leases |
| Schedule
of other information related to operating leases | |
| | | |
| | |
| | |
Years
Ended July 31, | |
| | |
2026 | | |
2025 | |
| Other information: | |
| | | |
| | |
| Operating cash flows from operating leases | |
$ | 2,237,257 | | |
$ | 2,167,284 | |
|
| Schedule of annual undiscounted cash flows of the operating lease liabilities |
| Schedule of annual undiscounted cash flows of the operating lease liabilities | |
| | |
| Year ended July 31 | |
Operating
Leases |
|
| 2027 | |
$ | 2,328,731 | |
| 2028 | |
| 2,349,076 | |
| 2029 | |
| 2,370,098 | |
| 2030 | |
| 2,293,975 | |
| 2031 | |
| 1,740,359 | |
| Thereafter | |
| 20,753,496 | |
| Total undiscounted cash flows | |
| 31,835,735 | |
| Less: present value discount | |
| (7,548,833 | ) |
| Total Lease Liabilities | |
$ | 24,286,902 | |
|