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INVESTMENTS IN RENTAL PROPERTY (Tables) | 12 Months Ended
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Dec. 31, 2025
Real Estate [Abstract] |
Schedule of Real Estate Properties Sold and Disposed | The Company disposed of the following rental properties during the year ended December 31, 2025 (dollars in thousands)
Disposition Date | Property | Location | Units | Property Type | Net Sales Proceeds |  | Net Carrying Value | Realized Gains (Losses) Unrealized Losses, net |
07/09/25 | Signature Place | Morris Plains, NJ | 197 |  | Multifamily | $ | 83,254 |  |  | $ | 45,840 |  | $ | 37,414 |  |
07/22/25 | 145 Front at City Square | Worcester, MA | 365 |  | Multifamily | 121,030 |  |  | 77,688 |  | 43,342 |  |
08/14/25 | The James | Park Ridge, NJ | 240 |  | Multifamily | 115,090 |  |  | 121,593 |  | (6,503) |  | (a)
09/25/25 | Quarry Place at Tuckahoe | Eastchester, NY | 108 |  | Multifamily | 61,774 |  | (b) | 46,779 |  | 14,995 |  |
| Others (c) |  |  |  |  |  |  | 1,583 |  |
Totals |  |  | 910 |  | $ | 381,148 |  |  | $ | 291,900 |  | $ | 90,831 |  |
(a) Includes previously recorded impairment charges of $6.9 million. (b) Net sales proceeds include the buyer's assumption of the $41.0 million mortgage loan encumbering the property. (c) Others represent a cumulative correction to Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net, related to years prior to 2022 of $1.6 million, with corresponding increases to Buildings and improvements of $2.0 million and Accumulated depreciation and amortization of $0.4 million. The Company disposed of the following rental properties during the year ended December 31, 2024 (dollars in thousands)
Disposition Date | Property | Location | # of Bldgs. | Rentable Square Feet | Property Type | Net Sales Proceeds | Net Carrying Value | Discontinued Operations Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net
03/20/24 | Harborside 5 | Jersey City, New Jersey | 1 | 977,225 |  | Office | $ | 81,515 |  | $ | 81,228 |  | $ | 287 |
| Others (a) |  |  |  |  |  |  | 3,160 |
Totals |  |  | 1 | 977,225 |  |  | $ | 81,515 |  | $ | 81,228 |  | $ | 3,447 |
(a)Others represent return of a $1.9 million escrow not originally expected to be received at the time of closing and resolution of estimated accrued expenses from various previously sold rental properties. The Company disposed of the following rental property during the year ended December 31, 2023 (dollars in thousands):
Disposition Date | Property | Location | # of Bldgs. | Rentable Square Feet | Property Type | Net Sales Proceeds |  | Net Carrying Value |  | Discontinued Operations Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net
02/10/23 | XS Hotels | Weehawken, New Jersey | 2 | — |  | Hotel | $ | 93,358 |  | (a) | $ | 92,578 |  |  | $ | 780 |
04/04/23 | Harborside 1, 2 and 3 | Jersey City, New Jersey | 3 | 1,886,800 |  | Office | 362,446 |  |  | 362,304 |  |  | 142 |
09/13/23 | Harborside 6 | Jersey City, New Jersey | 1 | 231,856 |  | Office | 44,145 |  |  | 43,722 |  |  | 423 |
10/13/23 | 23 Main Street | Holmdel, New Jersey | 1 | 350,000 |  | Office | 15,884 |  | (b) | 13,372 |  |  | 2,512 |
| Others (c) |  |  |  |  |  |  |  |  | 2,184 |
Unrealized gains (losses) on real estate held for sale |  |  |  |  |  | (3,630) |
Totals |  |  | 7 | 2,468,656 |  |  | $ | 515,833 |  |  | $ | 511,976 |  |  | $ | 2,411 |
(a) Included proceeds of $84.0 million used to repay the mortgage loan encumbering the property at closing. (b) Included deposits totaling $1.3 million received by the Company in February and August 2023. (c) Others represent resolution of estimated accrued expenses from previously sold rental properties.
Schedule of Disposition of Developable Land | The Company disposed of the following developable land holdings during the year ended December 31, 2025 (dollars in thousands):
Disposition Date | Property | Location | Net Sales Proceeds |  | Net Carrying Value |  | Gain (loss) on disposition of developable land
01/24/25 | 65 Livingston | Roseland, NJ | $ | 7,139 |  |  | $ | 7,295 |  | (a) | $ | (156) |
04/03/25 | Wall Land | Wall Township, NJ | 30,152 |  |  | 4,116 |  |  | 26,036 |
04/29/25 | 1 Water Street | White Plains, NY | 15,563 |  |  | 5,033 |  |  | 10,530 |
08/28/25 | PI South - Building 2 | Weehawken, NJ | 36,520 |  | (b) | 37,638 |  | (c) | (1,118) |
12/8/2025 | Harborside 8/9 | Jersey City, NJ | 73,354 |  | (d) | 75,416 |  | (e) | (2,062) |
| Others (f) |  |  |  |  |  | 810 |
Totals |  |  | $ | 162,728 |  |  | $ | 129,498 |  |  | $ | 34,040 |
(a) Net carrying value reflects previously recorded impairment charges of $2.6 million. (b) This property was owned through a consolidated joint venture; the amounts presented in this table reflect the Company’s consolidated balances. (c) Net carrying value reflects previously recorded impairment charges of $3.2 million. (d) Includes deposit of $5.0 million received by the Company in May 2025. (e) Net carrying value reflects previously recorded impairment charges of $12.5 million. (f) Others represent reversals of estimated accrued expenses from previously sold developable land holdings. The Company disposed of the following developable land holdings during the year ended December 31, 2024 (dollars in thousands):
Disposition Date | Property | Location | Net Sales Proceeds | Net Carrying Value |  | Gain (loss) on disposition of developable land
01/03/24 | 2 Campus | Parsippany-Troy Hills, New Jersey | $ | 10,155 |  | $ | 9,371 |  |  | $ | 784 |
04/16/24 | 107 Morgan | Jersey City, New Jersey | 50,630 |  | 50,929 |  | (a) | (299) |
04/30/24 | 6 Becker Farm / 85 Livingston | Roseland, New Jersey | 27,985 |  | 16,955 |  |  | 11,030 |
Totals |  |  | $ | 88,770 |  | $ | 77,255 |  |  | $ | 11,515 |
(a)Carrying value reflects previously recorded impairment charges of $10.5 million. The Company disposed of the following developable land during the year ended December 31, 2023 (dollars in thousands):
Disposition Date | Property | Location | Net Sales Proceeds |  | Net Carrying Value | Gain (loss) on disposition of developable land | Discontinued Operations Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net
03/17/23 | Columbia-Honeywell | Morris Township, New Jersey | $ | 8,214 |  | (a) | $ | 8,236 |  | $ | (22) |  | $ | — |
10/12/23 | 3 Campus | Parsippany-Troy Hills, New Jersey | 13,248 |  |  | 7,847 |  | 5,401 |  | — |
10/05/23 | Harborside 4 | Jersey City, New Jersey | 53,656 |  |  | 14,385 |  | — |  | 39,271 |
| Others (b) |  |  |  |  | 1,689 | —
Totals |  |  | $ | 75,118 |  |  | $ | 30,468 |  | $ | 7,068 |  | $ | 39,271 |
(a) Included deposits totaling $1.1 million received by the Company in December 2022 and January 2023. (b) Others represent reversals of estimated accrued expenses from previously sold developable land holdings.
Schedule of Assets Held for Sale | The following table summarizes the real estate held for sale, net as of December 31, 2024:
(dollars in thousands) |  | December 31, 2024
Land |  | $ | 9,910
Less: Cumulative unrealized losses on property held for sale |  | (2,619) |
Real estate held for sale, net |  | $ | 7,291

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