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Mortgages Payable (Tables) | 6 Months Ended
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Jun. 30, 2026
Debt Disclosure [Abstract] |
Schedule of Outstanding Mortgages Payable | The following is a summary of our outstanding mortgages payable as of June 30, 2026 and December 31, 2025. We may refinance our maturing debt as it comes due or choose to pay it down.
|  |  |  | Interest Rate at June 30, 2026 |  | Balance at
(Amounts in thousands) |  | Maturity |  |  | June 30, 2026 |  | December 31, 2025
First mortgages secured by: |  |  |  |  |  |  |  |
731 Lexington Avenue, office condominium |  | Oct. 09, 2028 |  | 5.04% |  | $ | 400,000 |  |  | $ | 400,000 |
Rego Park shopping center (1)(2) |  | Dec. 05, 2030 |  | 5.62% |  | 175,000 |  |  | 175,000 |
731 Lexington Avenue, retail condominium(3) |  | Dec. 23, 2035 |  | 4.55% |  | 171,522 |  |  | 167,691 |
The Alexander apartment tower |  | Nov. 01, 2027 |  | 2.63% |  | 94,000 |  |  | 94,000 |
Total |  | 840,522 |  |  | 836,691 |
Deferred debt issuance costs, net of accumulated amortization of $6,551 and $5,263, respectively |  |  |  |  |  | (5,950) |  |  | (7,240) |
|  | $ | 834,572 |  |  | $ | 829,451 |
(1)Interest rate listed represents the rate in effect as of June 30, 2026 based on SOFR as of contractual reset date plus contractual spread, adjusted for hedging instruments as applicable. (2)Interest at SOFR plus 2.00% (SOFR is capped at a rate of 4.50% thr ough December 2026). (3)Includes PIK interest of $4,022 and $191 as of June 30, 2026 and December 31, 2025, respectively. See below for further discussion.

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