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MORTGAGES, LOANS PAYABLE AND OTHER OBLIGATIONS (Tables) | 12 Months Ended
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Dec. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Mortgages, Loans Payable And Other Obligations | A summary of the Company’s mortgages, loans payable and other obligations as of December 31, 2025 and 2024 is as follows (dollars in thousands):
Property Name | Lender |  | Effective Rate (a) | December 31, 2025 | December 31, 2024 | Maturity
Portside 2 at East Pier (b) | New York Life Insurance Company |  | 4.56 | % | 93,782 |  | 95,427 |  | 03/10/26
BLVD 425 | New York Life Insurance Company |  | 4.17 | % | 131,000 |  | 131,000 |  | 08/10/26
BLVD 401 | New York Life Insurance Company |  | 4.29 | % | 113,462 |  | 115,515 |  | 08/10/26
Portside at East Pier (c) | KKR | SOFR+ | 2.75 | % | — |  | 56,500 |  | 09/07/26
The Upton (d) | Bank of New York Mellon | SOFR+ | 1.58 | % | 75,000 |  | 75,000 |  | 10/27/26
RiverHouse 9 at Port Imperial (e) | JP Morgan | SOFR+ | 1.41 | % | 110,000 |  | 110,000 |  | 06/21/27
Quarry Place at Tuckahoe (f) | Natixis Real Estate Capital LLC |  | 4.48 | % | — |  | 41,000 |  | 08/05/27
BLVD 475 | The Northwestern Mutual Life Insurance Co. |  | 2.91 | % | 161,201 |  | 164,712 |  | 11/10/27
Haus25 | Freddie Mac |  | 6.04 | % | 343,061 |  | 343,061 |  | 09/01/28
RiverHouse 11 at Port Imperial | The Northwestern Mutual Life Insurance Co. |  | 4.52 | % | 100,000 |  | 100,000 |  | 01/10/29
Sable (g) | Pacific Life |  | 5.59 | % | 181,544 |  | — |  | 08/01/29
Port Imperial South 4/5 Garage | American General Life & A/G PC |  | 4.85 | % | 30,524 |  | 31,098 |  | 12/01/29
The Emery at Overlook Ridge (h) | Flagstar Bank |  | 3.21 | % | — |  | 70,653 |  | 01/01/31
Principal balance outstanding |  |  | 1,339,574 |  | 1,333,966 |  |
Unamortized deferred financing costs |  |  | (7,416) |  | (10,492) |  |
Total mortgages, loans payable and other obligations, net |  |  | $ | 1,332,158 |  | $ | 1,323,474 |  |
(a)R eflects effective rate of debt, including deferred financing costs, comprised of debt initiation costs, and other transaction costs, as applicable. (b)On June 11, 2024, the lender terminated the Company's payment guarantee of 10 percent of the outstanding principal. (c)As of December 31, 2025 this mortgage was fully repaid and the corresponding interest-rate cap was terminated. (d)As of December 31, 2025, this mortgage is hedged with an interest-rate cap with a strike rate of 3.5%, expiring November 2026. (e)As of December 31, 2025, this mortgage is hedged with an interest-rate cap with a strike rate of 3.5%, expiring in July 2026. (f)In September 2025, the Company sold the property encumbered by this mortgage, simultaneously assigning the mortgage to the purchaser. See Note 3: Investments in Rental Property for more information. (g)The Company consolidated its interest in Sable on April 21, 2025 as a result of the Sable JV Interest Acquisition. See Note 3: Investments in Rental Properties for more information. (h)As of December 31, 2025, this mortgage was fully repaid.
Schedule of Principal Payments | Scheduled principal payments for the Company’s mortgages, loans payable and other obligations, including the Revolving Credit Facility, as of December 31, 2025 are as follows (dollars in thousands):
Period | Scheduled Amortization | Principal Maturities | Total
2026 | $ | 6,121 | $ | 411,404 | $ | 417,525
2027 | 3,791 | 294,494 | 298,285
2028 | 733 | 343,061 | 343,794
2029 | 573 | 309,397 | 309,970
Sub-total | 11,218 | 1,358,356 | 1,369,574
Unamortized deferred financing costs (a) | (7,416) |  | — | (7,416) |
Totals | $ | 3,802 | $ | 1,358,356 | $ | 1,362,158
(a) Excludes $3.7 million of unamortized deferred financing costs recorded in Deferred charges and other assets, net, pertaining to the Company's Revolving Credit Facility as of December 31, 2025.
Schedule of Indebtedness | SUMMARY OF INDEBTEDNESS
(dollars in thousands) | December 31, 2025 | December 31, 2024
| Balance | Weighted Average Interest Rate | Balance | Weighted Average Interest Rate
Fixed Rate & Hedged Debt, including Term Loan and Revolving Credit Facility (a) | $ | 1,362,158 |  | 4.90 | % | $ | 1,670,313 |  | 5.05 | %
Unhedged portion of Revolving Credit Facility | — |  | — | % | 2,000 |  | 7.08 | %
Totals/Weighted Average, net of unamortized deferred financing costs (b): | $ | 1,362,158 |  | 4.90 | % | $ | 1,672,313 |  | 5.05 | %
(a) As of December 31, 2025 and 2024, includes debt with interest rate caps outstanding with a notional amount of $330.0 million and $591.5 million, respectively. (b) Excludes $3.7 million and $4.7 million of unamortized deferred financing costs recorded in Deferred charges and other assets, net, pertaining to the Company's Revolving Credit Facility as of December 31, 2025 and 2024, respectively.

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