Net Assets in Liquidation	12 Months Ended
Dec. 31, 2024
Text Block [Abstract]
Net Assets in Liquidation	Note 5 – Net Assets in Liquidation Net assets in liquidation are calculated based on estimates of future cash inflows and less estimates of future cash outflows. Net assets in liquidation decreased by $8.6 million during the year ended December 31, 2024. The decrease was primarily related to legal fees being higher than originally estimated and a reduction in future estimated interest income to be earned on cash and cash equivalents. The decrease was offset by an increase of $1.2 million in the estimated liquidation value of the Company's investment in Worldwide Plaza resulting from interest earned on undistributed funds held at the joint venture. Net assets in liquidation increased by $1.9 million during the year ended December 31, 2023. The increase was primarily due to an increase of $4.8 million in the estimated liquidation value of the Company’s investment in Worldwide Plaza resulting from the estimated distributions to be received from working capital at the property and property operations and a $1.3 million net increase due to a remeasurement of estimated receipts and costs primarily related to an increase of estimated interest income. The increase in net assets was offset by $4.2 million of liquidating distributions to unitholders. The net assets in liquidation at December 31, 2024, presented on an undiscounted basis, include the Company’s proportionate share in Worldwide Plaza’s net assets which include a property value based on estimated cash flow projections utilizing appropriate discount and capitalization rates as well as available market information. The estimated cash flow projections, which include minimal future capital investment, were negatively impacted by increased interest rates which affected projections of terminal capitalization rates, inflation, uncertainty of the timing of market recovery and continued lack of transactions in the market for office buildings, especially in the New York City market, and result in a property value that approximates Worldwide Plaza’s current debt balance. There were 16,791,769 Units outstanding at December 31, 2024. The net assets in liquidation as of December 31, 2024, if sold at their net asset value, would result in liquidating distributions of approximately $6.82 per Unit. On January 31, 2025, the Board of Managers declared a cash liquidating distribution of $4.15 per Unit payable on February 10, 2025 to unitholders of record on January 31, 2025. The net assets in liquidation as of December 31, 2024 of $114.5 million, if sold at their net asset value, plus the cumulative liquidating distributions paid to stockholders of $1.03 billion ($61.83 per common share/Unit) prior to December 31, 2024 would result in cumulative liquidating distributions to stockholders/unitholders of $68.65 per Unit. There is inherent uncertainty with these estimates, and they could change materially based on the timing of the sale of the Company's remaining assets, the performance of the underlying assets and any changes in the underlying assumptions of the estimated cash flows.

Net Assets in Liquidation

12 Months Ended

Dec. 31, 2024

Note 5 – Net Assets in Liquidation

Net assets in liquidation are calculated based on estimates of future cash inflows and less estimates of future cash outflows. Net assets in liquidation decreased by $8.6 million during the year ended December 31, 2024. The decrease was primarily related to legal fees being higher than originally estimated and a reduction in future estimated interest income to be earned on cash and cash equivalents. The decrease was offset by an increase of $1.2 million in the estimated liquidation value of the Company's investment in Worldwide Plaza resulting from interest earned on undistributed funds held at the joint venture.

Net assets in liquidation increased by $1.9 million during the year ended December 31, 2023. The increase was primarily due to an increase of $4.8 million in the estimated liquidation value of the Company’s investment in Worldwide Plaza resulting from the estimated distributions to be received from working capital at the property and property operations and a $1.3 million net increase due to a remeasurement of estimated receipts and costs primarily related to an increase of estimated interest income. The increase in net assets was offset by $4.2 million of liquidating distributions to unitholders.

The net assets in liquidation at December 31, 2024, presented on an undiscounted basis, include the Company’s proportionate share in Worldwide Plaza’s net assets which include a property value based on estimated cash flow projections utilizing appropriate discount and capitalization rates as well as available market information. The estimated cash flow projections, which include minimal future capital investment, were negatively impacted by increased interest rates which affected projections of terminal capitalization rates, inflation, uncertainty of the timing of market recovery and continued lack of transactions in the market for office buildings, especially in the New York City market, and result in a property value that approximates Worldwide Plaza’s current debt balance.

There were 16,791,769 Units outstanding at December 31, 2024. The net assets in liquidation as of December 31, 2024, if sold at their net asset value, would result in liquidating distributions of approximately $6.82 per Unit. On January 31, 2025, the Board of

Managers declared a cash liquidating distribution of $4.15 per Unit payable on February 10, 2025 to unitholders of record on January 31, 2025. The net assets in liquidation as of December 31, 2024 of $114.5 million, if sold at their net asset value, plus the cumulative liquidating distributions paid to stockholders of $1.03 billion ($61.83 per common share/Unit) prior to December 31, 2024 would result in cumulative liquidating distributions to stockholders/unitholders of $68.65 per Unit. There is inherent uncertainty with these estimates, and they could change materially based on the timing of the sale of the Company's remaining assets, the performance of the underlying assets and any changes in the underlying assumptions of the estimated cash flows.