Note 12 - Segment Reporting

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

12.

Segment Reporting

The Company has classified its reporting segments into commercial and residential rental properties. The commercial reporting segment includes the

141

Livingston Street property and portions of the

250

Livingston Street, Tribeca House and Aspen properties. The residential reporting segment includes the Flatbush Gardens property, the

107

Columbia Heights property, the

10

West

65

th

Street property and portions of the

250

Livingston Street, Tribeca House and Aspen properties.

The Company’s income from operations by segment for the years ended

December 31, 2018,

2017

and

2016,

is as follows:

Year ended December 31, 2018	Commercial		Residential		Total
Rental revenues	$	21,508	$	79,365	$	100,873
Tenant recoveries		4,884		—		4,884
Garage and other income		933		3,307		4,240
Total revenues		27,325		82,672		109,997
Property operating expenses		4,312		22,955		27,267
Real estate taxes and insurance		4,687		17,606		22,293
General and administrative		1,078		8,795		9,873
Acquisition and organization costs		—		101		101
Depreciation and amortization		3,642		14,363		18,005
Total operating expenses		13,719		63,820		77,539
Income from operations	$	13,606	$	18,852	$	32,458

Year ended December 31, 2017	Commercial		Residential		Total
Rental revenues	$	21,914	$	73,667	$	95,581
Tenant recoveries		5,102		—		5,102
Garage and other income		875		2,394		3,269
Total revenues		27,891		76,061		103,952
Property operating expenses		4,328		22,701		27,029
Real estate taxes and insurance		4,438		16,247		20,685
General and administrative		801		9,143		9,944
Acquisition costs		—		69		69
Depreciation and amortization		3,277		13,444		16,721
Total operating expenses		12,844		61,604		74,448
Income from operations	$	15,047	$	14,457	$	29,504

Year ended December 31, 2016	Commercial		Residential		Total
Rental revenues	$	18,558	$	67,165	$	85,723
Tenant recoveries		4,061		—		4,061
Garage and other income		1,587		1,634		3,221
Total revenues		24,206		68,799		93,005
Property operating expenses		4,113		21,329		25,442
Real estate taxes and insurance		4,024		13,716		17,740
General and administrative		748		7,657		8,405
Acquisition costs		—		326		326
Depreciation and amortization		2,688		12,607		15,295
Total operating expenses		11,573		55,635		67,208
Income from operations	$	12,633	$	13,164	$	25,797

The Company’s total assets by segment are as follows, as of:

	Commercial		Residential		Total
December 31, 2018	$	245,940	$	855,068	$	1,101,008
December 31, 2017		222,288		829,797		1,052,085
December 31, 2016		225,608		679,600		905,208

The Company’s interest expense by segment for the years ended

December 31, 2018,

2017

and

2016,

is as follows:

	Commercial		Residential		Total
Year ended December 31, 2018	$	6,987	$	25,794	$	32,781
Year ended December 31, 2017		7,569		27,936		35,505
Year ended December 31, 2016		7,421		30,715		38,136

The Company’s capital expenditures by segment for the years ended

December 31, 2018,

2017

and

2016,

are as follows:

	Commercial		Residential		Total
Year ended December 31, 2018	$	2,460	$	43,182	$	45,642
Year ended December 31, 2017		4,187		18,538		22,725
Year ended December 31, 2016		2,653		15,509		18,162