Note 8 - Rental Income Under Operating Leases

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Lessor, Operating Leases [Text Block]

8

. Rental Income under Operating Leases

The Company’s commercial properties are leased to commercial tenants under operating leases with fixed terms of varying lengths. As of

December 31, 2019,

the minimum future cash rents receivable (excluding tenant reimbursements for operating expenses) under non-cancelable operating leases for the commercial tenants in each of the next

five

years and thereafter are as follows:

2020	$	23,498
2021		29,573
2022		29,286
2023		27,488
2024		26,797
Thereafter		24,697
Total	$	161,339

The Company has commercial leases with the City of New York that comprised approximately

19%,

19%

and

20%

of total revenues for the years ended

December 31, 2019,

2018

and

2017,

respectively.