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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Rental revenues $ 798 $ 5,942 $ 5,502
Other income 1,305 177 182
Sales of residential condominium units 1,439 27,483 37,300
Total revenues 3,542 33,602 42,984
Operating Expenses      
Property operating expenses 480 3,949 4,180
Real estate taxes 363 2,355 1,697
General and administrative 5,370 6,037 5,754
Pension related costs 97 (231) 548
Cost of sales - residential condominium units 1,437 27,257 35,236
Transaction related costs   206 163
Depreciation and amortization 771 3,739 4,018
Total operating expenses 8,518 43,312 51,596
Operating loss (4,976) (9,710) (8,612)
Gain on contribution to joint venture 20,976    
Equity in net (loss) gain from unconsolidated joint ventures (5,962) (4) 804
Equity in net gain on sale of unconsolidated joint venture property   3,065 4,490
Unrealized gain on warrants   73 1,070
Interest expense, net (3,883) (29,229) (15,701)
Interest expense - amortization of deferred finance costs (334) (3,031) (2,453)
Income (loss) before taxes 5,821 (38,836) (20,402)
Tax expense (218) (183) (288)
Net income (loss) attributable to common stockholders 5,603 (39,019) (20,690)
Other comprehensive income (loss):      
Unrealized gain (loss) on pension liability 1,528 1,369 (2,283)
Comprehensive income (loss) attributable to common stockholders $ 7,131 $ (37,650) $ (22,973)
Income (loss) per share - basic $ 0.09 $ (1.02) $ (0.56)
Income (loss) per share - diluted $ 0.09 $ (1.02) $ (0.56)
Weighted average number of common shares - basic 62,636 38,356 37,224
Weighted average number of common shares - diluted 62,636 38,356 37,224