v3.26.3
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Real estate, at cost:    
Land $ 30,624 $ 32,271
Buildings and leasehold improvements 975,172 1,069,350
Development and construction in progress 1,074 2,150
Total 1,006,870 1,103,771
Accumulated depreciation and amortization (442,919) (473,141)
Real estate, net 563,951 630,630
Cash and cash equivalents 299,789 128,167
Restricted cash 49,344 64,058
Tenant and other receivables 3,537 4,109
Receivable arising from the straight-lining of rents 103,458 109,078
Deferred leasing costs, net, including unamortized leasing fees to Vornado of $19,371 and $20,649, respectively 143,941 152,914
Other assets 34,298 21,752
Assets 1,198,318 1,110,708
LIABILITIES AND EQUITY    
Mortgages payable, net of deferred debt issuance costs 837,164 829,451
Accounts payable and accrued expenses 35,939 36,538
Lease incentive liability 73,825 113,618
Total liabilities 970,425 1,001,552
Commitments and contingencies
Preferred stock: $1.00 par value per share; authorized, 3,000,000 shares; issued and outstanding, none 0 0
Common stock: $1.00 par value per share; authorized, 10,000,000 shares; issued, 5,173,450 shares; outstanding, 5,107,290 shares 5,173 5,173
Additional capital 35,815 35,159
Retained earnings 187,277 69,201
Accumulated other comprehensive loss (4) (9)
Equity before treasury stock 228,261 109,524
Treasury stock: 66,160 shares, at cost (368) (368)
Total equity 227,893 109,156
Total liabilities and equity 1,198,318 1,110,708
Related Party    
LIABILITIES AND EQUITY    
Amounts due to Vornado 1,359 134
Nonrelated Party    
LIABILITIES AND EQUITY    
Amounts due to Vornado $ 22,138 $ 21,811