Annual report pursuant to Section 13 and 15(d)

REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION

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REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION
 12 Months Ended
Dec. 31, 2023
Real Estate Investments And Accumulated Depreciation
Property Location Property
Type		 Year
Built		 Acquired Related
Encumbrances		 Initial Costs Costs
Capitalized
Subsequent to
Acquisition (c)		 Gross Amount at Which
Carried at Close of
Period (a)		 Total (d) Accumulated
Depreciation (b)
Land Building and
Improvements		 Land Building and
Improvements
     
NEW JERSEY    
Bergen County
Park Ridge
The James Multifamily 2022 —  12,047  114,208  584  12,047  114,792  126,839  4,419 
Essex County    
Millburn (Short Hills)                      
The Upton Multifamily 2021 — 74,606  2,850  —  91,960  2,850  91,960  94,810    8,930 
                     
Hudson County                      
Jersey City
Harborside Plaza 5 Office 2002 2002 6,218  170,682  (8,422) 3,996  164,482  168,478    92,411 
Haus25 Multifamily 2022 333,512  53,421  420,959  (384) 53,421  420,575  473,996  21,888 
Liberty Towers Multifamily 2003 2019 264,697  66,670  328,347  11,341  66,670  339,688  406,358    38,466 
BLVD 475 N/S Multifamily 2011 2017 164,944  58,761  240,871  8,471  58,761  249,342  308,103    49,205 
Soho Lofts Multifamily 2017 2019 158,126  27,601  224,039  6,060  27,601  230,099  257,700    32,837 
BLVD 425 Multifamily 2003 2018 130,673  48,820  160,740  5,525  48,820  166,265  215,085    27,463 
BLVD 401 Multifamily 2016 2019 116,642  36,595  152,440  391  36,595  152,831  189,426    20,555 
Weehawken
100 Avenue at Port Imperial Other 2016 2016 —  350  —  30,644  1,958  29,036  30,994    7,053 
500 Avenue at Port Imperial Other 2013 2013 31,480  13,099  56,669  (19,213) 13,099  37,456  50,555    9,894 
RiverHouse 9 at Port Imperial Multifamily 2021 — 109,221  2,686  —  154,575  2,686  154,575  157,261    11,925 
RiverHouse 11 at Port Imperial Multifamily 2018 2018 99,896  22,047  —  112,471  22,047  112,471  134,518    18,946 
West New York                        
Port Imperial North Retail Other 2008 2020 —  4,305  8,216  1,123  4,305  9,339  13,644    1,230 
                         
Morris County                        
Morris Plains                        
Signature Place Multifamily 2018 2018 42,944  930  —  56,498  930  56,498  57,428    9,528 
NEW YORK                        
Westchester County                        
Eastchester                        
Quarry Place at Tuckahoe Multifamily 2016 2016 40,763  5,585  3,400  49,002  5,585  52,402  57,987    11,086 
                         
MASSACHUSETTS                        
Middlesex County                        
Malden                        
The Emery at Overlook Ridge Multifamily 2020 2014 71,554  4,115  86,093  10,091  9,104  91,195  100,299    12,150 
                         
Suffolk County                        
East Boston                        
Portside at East Pier Multifamily 2015 2016 55,252  —  73,713  861  —  74,574  74,574    19,008 
Portside 2 at East Pier Multifamily 2018 2018 96,809  —  37,114  77,324  —  114,438  114,438    19,654 
                         
Worcester County                        
Worcester                        
145 Front at City Square Multifamily 2018 2015 62,778  4,380  —  92,306  4,380  92,306  96,686    16,933 
                         
Projects Under Development
and Developable Land       —  99,644  59,052  —  99,644  59,052  158,696    10,200 
                         
Furniture, Fixtures
and Equipment       —  —  —  103,613  —  103,613  103,613   
                         
TOTALS       1,853,897  470,124  2,136,543  784,821  474,499  2,916,989  3,391,488  (e) 443,781 
(a)The aggregate cost for federal income tax purposes at December 31, 2023 was approximately $2.4 billion.
(b)Depreciation of buildings and improvements are calculated over lives ranging from the life of the lease to 40 years.
(c)These costs are net of impairments and valuation allowances recorded, if any.
NOTE TO SCHEDULE III
Changes in rental properties and accumulated depreciation for the periods ended December 31, 2023, 2022 and 2021 are as follows: (dollars in thousands)
2023 2022 2021
Rental Properties
Balance at beginning of year $ 4,046,122 $ 4,076,866 $ 4,638,643
Additions 25,661 845,900 1,002,342
Sales and assets held-for-sale (608,276) (747,407) (1,522,994)
Impairments (72,019) (129,237) (27,547)
Retirements/disposals —  —  (13,578)
Balance at end of year $ 3,391,488 $ 4,046,122 $ 4,076,866
Accumulated Depreciation
Balance at beginning of year $ 631,910 $ 583,416 $ 656,331
Depreciation expense 94,590 102,476 102,062
Sales and assets held-for-sale (243,217) (28,924) (159,541)
Impairments (39,502) (25,058) (1,858)
Retirements/disposals —  —  (13,578)
Balance at end of year $ 443,781 $ 631,910 $ 583,416
VERIS RESIDENTIAL, L.P.  
Real Estate Investments And Accumulated Depreciation
Property Location Property
Type		 Year
Built		 Acquired Related
Encumbrances		 Initial Costs Costs
Capitalized
Subsequent to
Acquisition (c)		 Gross Amount at Which
Carried at Close of
Period (a)		 Total (d) Accumulated
Depreciation (b)
Land Building and
Improvements		 Land Building and
Improvements
     
NEW JERSEY    
Bergen County
Park Ridge
The James Multifamily 2022 —  12,047  114,208  584  12,047  114,792  126,839  4,419 
Essex County    
Millburn (Short Hills)                      
The Upton Multifamily 2021 — 74,606  2,850  —  91,960  2,850  91,960  94,810    8,930 
                     
Hudson County                      
Jersey City
Harborside Plaza 5 Office 2002 2002 6,218  170,682  (8,422) 3,996  164,482  168,478    92,411 
Haus25 Multifamily 2022 333,512  53,421  420,959  (384) 53,421  420,575  473,996  21,888 
Liberty Towers Multifamily 2003 2019 264,697  66,670  328,347  11,341  66,670  339,688  406,358    38,466 
BLVD 475 N/S Multifamily 2011 2017 164,944  58,761  240,871  8,471  58,761  249,342  308,103    49,205 
Soho Lofts Multifamily 2017 2019 158,126  27,601  224,039  6,060  27,601  230,099  257,700    32,837 
BLVD 425 Multifamily 2003 2018 130,673  48,820  160,740  5,525  48,820  166,265  215,085    27,463 
BLVD 401 Multifamily 2016 2019 116,642  36,595  152,440  391  36,595  152,831  189,426    20,555 
Weehawken
100 Avenue at Port Imperial Other 2016 2016 —  350  —  30,644  1,958  29,036  30,994    7,053 
500 Avenue at Port Imperial Other 2013 2013 31,480  13,099  56,669  (19,213) 13,099  37,456  50,555    9,894 
RiverHouse 9 at Port Imperial Multifamily 2021 — 109,221  2,686  —  154,575  2,686  154,575  157,261    11,925 
RiverHouse 11 at Port Imperial Multifamily 2018 2018 99,896  22,047  —  112,471  22,047  112,471  134,518    18,946 
West New York                        
Port Imperial North Retail Other 2008 2020 —  4,305  8,216  1,123  4,305  9,339  13,644    1,230 
                         
Morris County                        
Morris Plains                        
Signature Place Multifamily 2018 2018 42,944  930  —  56,498  930  56,498  57,428    9,528 
NEW YORK                        
Westchester County                        
Eastchester                        
Quarry Place at Tuckahoe Multifamily 2016 2016 40,763  5,585  3,400  49,002  5,585  52,402  57,987    11,086 
                         
MASSACHUSETTS                        
Middlesex County                        
Malden                        
The Emery at Overlook Ridge Multifamily 2020 2014 71,554  4,115  86,093  10,091  9,104  91,195  100,299    12,150 
                         
Suffolk County                        
East Boston                        
Portside at East Pier Multifamily 2015 2016 55,252  —  73,713  861  —  74,574  74,574    19,008 
Portside 2 at East Pier Multifamily 2018 2018 96,809  —  37,114  77,324  —  114,438  114,438    19,654 
                         
Worcester County                        
Worcester                        
145 Front at City Square Multifamily 2018 2015 62,778  4,380  —  92,306  4,380  92,306  96,686    16,933 
                         
Projects Under Development
and Developable Land       —  99,644  59,052  —  99,644  59,052  158,696    10,200 
                         
Furniture, Fixtures
and Equipment       —  —  —  103,613  —  103,613  103,613   
                         
TOTALS       1,853,897  470,124  2,136,543  784,821  474,499  2,916,989  3,391,488  (e) 443,781 
(a)The aggregate cost for federal income tax purposes at December 31, 2023 was approximately $2.4 billion.
(b)Depreciation of buildings and improvements are calculated over lives ranging from the life of the lease to 40 years.
(c)These costs are net of impairments and valuation allowances recorded, if any.
NOTE TO SCHEDULE III
Changes in rental properties and accumulated depreciation for the periods ended December 31, 2023, 2022 and 2021 are as follows: (dollars in thousands)
2023 2022 2021
Rental Properties
Balance at beginning of year $ 4,046,122 $ 4,076,866 $ 4,638,643
Additions 25,661 845,900 1,002,342
Sales and assets held-for-sale (608,276) (747,407) (1,522,994)
Impairments (72,019) (129,237) (27,547)
Retirements/disposals —  —  (13,578)
Balance at end of year $ 3,391,488 $ 4,046,122 $ 4,076,866
Accumulated Depreciation
Balance at beginning of year $ 631,910 $ 583,416 $ 656,331
Depreciation expense 94,590 102,476 102,062
Sales and assets held-for-sale (243,217) (28,924) (159,541)
Impairments (39,502) (25,058) (1,858)
Retirements/disposals —  —  (13,578)
Balance at end of year $ 443,781 $ 631,910 $ 583,416