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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Real estate, at cost:    
Land $ 32,271 $ 32,271
Buildings and leasehold improvements 1,033,488 1,034,068
Development and construction in progress 4,279 281
Total 1,070,038 1,066,620
Accumulated depreciation and amortization (429,426) (415,903)
Real estate, net 640,612 650,717
Cash and cash equivalents 410,948 531,855
Restricted cash 113,429 21,122
Tenant and other receivables 4,603 6,076
Receivable arising from the straight-lining of rents 113,790 124,866
Deferred leasing costs, net, including unamortized leasing fees to Vornado of $22,877 and $19,540, respectively 166,439 24,888
Other assets 30,929 44,156
Total assets 1,480,750 1,403,680
LIABILITIES AND EQUITY    
Mortgages payable, net of deferred debt issuance costs 1,082,012 1,092,551
Accounts payable and accrued expenses 50,778 51,750
Lease incentive liability 113,618 0
Total liabilities 1,268,230 1,166,023
Commitments and contingencies
Preferred stock: $1.00 par value per share; authorized, 3,000,000 shares; issued and outstanding, none 0 0
Common stock: $1.00 par value per share; authorized, 10,000,000 shares; issued, 5,173,450 shares; outstanding, 5,107,290 shares 5,173 5,173
Additional capital 34,765 34,315
Retained earnings 160,649 182,336
Accumulated other comprehensive income 12,301 16,201
Equity before treasury stock 212,888 238,025
Treasury stock: 66,160 shares, at cost (368) (368)
Total equity 212,520 237,657
Total liabilities and equity 1,480,750 1,403,680
Related Party    
LIABILITIES AND EQUITY    
Amounts due to Vornado 623 715
Other liabilities 623 715
Nonrelated Party    
LIABILITIES AND EQUITY    
Amounts due to Vornado 21,199 21,007
Other liabilities $ 21,199 $ 21,007