Quarterly report [Sections 13 or 15(d)]

INVESTMENTS IN RENTAL PROPERTIES (Tables)

v3.25.2
INVESTMENTS IN RENTAL PROPERTIES (Tables)
 6 Months Ended
Jun. 30, 2025
Real Estate [Abstract]  
Schedule Of Disposed Developable Land
The Company disposed of the following developable land holding during the six months ended June 30, 2025 (dollars in thousands):
Disposition
Date		 Property Location Net
Sales
Proceeds		 Net
Carrying
Value		 Gain (loss) on disposition of developable land
01/24/25 65 Livingston Roseland, NJ $ 7,139  $ 7,295 
(a)
 $ (156)
04/03/25 Wall Land Wall Township, NJ 30,152  4,116  26,036 
04/29/25 1 Water Street White Plains, NY 15,563  5,033  10,530 
Totals     $ 52,854  $ 16,444  $ 36,410 
(a) Carrying value reflects previously recorded impairment charges of $2.6 million.
The Company disposed of the following developable land holding during the six months ended June 30, 2024 (dollars in thousands):
Disposition
Date		 Property Location Net
Sales
Proceeds		 Net
Carrying
Value		 Gain (loss) on disposition of developable land
01/03/24 2 Campus Parsippany-Troy Hills, New Jersey $ 10,155  $ 9,371  $ 784 
04/16/24 107 Morgan Jersey City, New Jersey 50,630  50,929  (a) (299)
04/30/24 6 Becker Farm / 85 Livingston Roseland, NJ 27,985  16,955  11,030 
Totals     $ 88,770  $ 77,255  $ 11,515 
(a) Carrying value reflects previously recorded impairment charges of $10.5 million.
Schedule Of Real Estate Properties Sold and Disposed
The Company disposed of the following rental properties during the six months ended June 30, 2024 (dollars in thousands):
Disposition
Date		 Property Location # of
Bldgs.		 Rentable
Square
Feet		 Property
Type		 Net
Sales
Proceeds		 Net
Carrying
Value		 Discontinued Operations: Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net
03/20/24 Harborside 5 Jersey City, New Jersey 1 977,225 Office $ 81,515  $ 81,228  $ 287 
Others (a) 1,261 
Totals     $ 81,515  $ 81,228  $ 1,548 
(a) Others represent resolution of estimated accrued expenses from various previously sold rental properties.
Schedule Of Assets Held For Sale
The following table summarizes real estate and liabilities held for sale, net as of June 30, 2025 and December 31, 2024:
(dollars in thousands)
 June 30,
2025		 December 31,
2024
Land $ 22,941  $ 9,910 
Building & Other 328,145  — 
Less: Accumulated depreciation (55,634) — 
Less: Cumulative unrealized losses on property held for sale (6,877) (2,619)
Real estate held for sale, net $ 288,575 $ 7,291
Liabilities held for sale, net $ 40,862 $ —