| Schedule Of Real Estate Properties Sold and Disposed |
The Company disposed of the following rental properties during the nine months ended September 30, 2025 (dollars in thousands):
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Disposition
Date |
Property |
Location |
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Units |
Property
Type |
Net
Sales
Proceeds |
|
Net
Carrying
Value |
|
Realized
Gains
(Losses)
Unrealized
Losses, net |
|
| 07/09/25 |
Signature Place |
Morris Plains, NJ |
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197 |
Multifamily |
$ |
83,254 |
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$ |
47,701 |
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$ |
35,553 |
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| 07/22/25 |
145 Front at City Square |
Worcester, MA |
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365 |
Multifamily |
121,030 |
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80,742 |
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40,288 |
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| 08/14/25 |
The James |
Park Ridge, NJ |
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240 |
Multifamily |
115,090 |
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114,716 |
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(a) |
374 |
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| 09/25/25 |
Quarry Place at Tuckahoe |
Eastchester, NY |
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108 |
Multifamily |
61,774 |
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(b) |
46,952 |
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14,822 |
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| Totals |
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$ |
381,148 |
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$ |
290,111 |
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$ |
91,037 |
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(a) Net carrying value reflects previously recorded impairment charges of $6.9 million.
(b) Net sales proceeds include the buyer's assumption of the $41.0 million mortgage loan encumbering the property.
The Company disposed of the following rental property during the nine months ended September 30, 2024 (dollars in thousands):
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Disposition
Date |
Property |
Location |
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Rentable
Square
Feet |
Property
Type |
Net
Sales
Proceeds |
Net
Carrying
Value |
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Discontinued Operations: Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net |
| 03/20/24 |
Harborside 5 |
Jersey City, NJ |
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977,225 |
Office |
$ |
81,515 |
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$ |
81,228 |
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$ |
287 |
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Others (a) |
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1,261 |
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| Totals |
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$ |
81,515 |
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$ |
81,228 |
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$ |
1,548 |
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(a) Others represent resolution of estimated accrued expenses from various previously sold rental properties.
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| Schedule Of Disposed Developable Land |
The Company disposed of the following developable land holdings during the nine months ended September 30, 2025 (dollars in thousands):
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Disposition
Date |
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Property |
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Location |
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Net
Sales
Proceeds |
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Net
Carrying
Value |
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Gain (loss) on disposition of developable land |
| 01/24/25 |
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65 Livingston |
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Roseland, NJ |
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$ |
7,139 |
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$ |
7,295 |
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(a) |
$ |
(156) |
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| 04/03/25 |
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Wall Land |
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Wall Township, NJ |
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30,152 |
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4,116 |
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26,036 |
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| 04/29/25 |
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1 Water Street |
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White Plains, NY |
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15,563 |
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5,033 |
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10,530 |
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| 08/28/25 |
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PI South - Building 2 |
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Weehawken, NJ |
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36,520 |
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(b) |
37,638 |
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(c) |
(1,118) |
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| Totals |
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$ |
89,374 |
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$ |
54,082 |
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$ |
35,292 |
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(a) Net carrying value reflects previously recorded impairment charges of $2.6 million.
(b) This property was owned through a consolidated joint venture; the amounts presented in this table reflect the Company’s consolidated balances.
(c) Net carrying value reflects previously recorded impairment charges of $3.2 million.
The Company disposed of the following developable land holdings during the nine months ended September 30, 2024 (dollars in thousands):
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Disposition
Date |
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Property |
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Location |
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Net
Sales
Proceeds |
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Net
Carrying
Value |
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Gain (loss) on disposition of developable land |
| 01/03/24 |
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2 Campus |
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Parsippany-Troy Hills, NJ |
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$ |
10,155 |
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$ |
9,371 |
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$ |
784 |
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| 04/16/24 |
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107 Morgan |
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Jersey City, NJ |
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50,630 |
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50,929 |
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(a) |
(299) |
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| 04/30/24 |
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6 Becker Farm / 85 Livingston |
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Roseland, NJ |
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27,985 |
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16,955 |
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11,030 |
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| Totals |
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$ |
88,770 |
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$ |
77,255 |
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$ |
11,515 |
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(a) Carrying value reflects previously recorded impairment charges of $10.5 million.
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| Schedule Of Assets Held For Sale |
The following table summarizes real estate held for sale, net as of December 31, 2024:
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(dollars in thousands) |
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December 31,
2024 |
| Land |
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$ |
9,910 |
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| Less: Cumulative unrealized losses on property held for sale |
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(2,619) |
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| Real estate held for sale, net |
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$ |
7,291 |
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