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Investment in Unconsolidated Ventures (Tables) | 9 Months Ended
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Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | The condensed balance sheets below present information regarding such properties (dollars in thousands):
|  | September 30, 2025 |  | December 31, 2024
ASSETS |  |  |  |
Real estate properties, net of accumulated depreciation of $92,124 and $81,843 |  | $ | 366,408 |  |  | $ | 318,594 |
Cash and cash equivalents |  | 5,491 |  |  | 5,549 |
Other assets |  | 15,612 |  |  | 5,567 |
Total Assets |  | $ | 387,511 |  |  | $ | 329,710 |
LIABILITIES AND EQUITY |  |  |  |
Liabilities: |  |  |  |
Mortgages payable, net of deferred costs of $1,123 and $837 |  | $ | 286,193 |  |  | $ | 251,112 |
Accounts payable and accrued liabilities |  | 9,442 |  |  | 5,148 |
Total Liabilities |  | 295,635 |  |  | 256,260 |
Commitments and contingencies |  |  |  |
Equity: |  |  |  |
Total unconsolidated joint venture equity |  | 91,876 |  |  | 73,450 |
Total Liabilities and Equity |  | $ | 387,511 |  |  | $ | 329,710 |
BRT's interest in joint venture equity |  | $ | 48,169 |  |  | $ | 31,344 |
The condensed income statements below present information regarding the Unconsolidated Properties (dollars in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenues: |  |  |  |  |  |  |  |
Rental and other revenue |  | $ | 13,043 |  |  | $ | 11,611 |  |  | $ | 36,679 |  |  | $ | 33,529 |
Total revenues |  | 13,043 |  |  | 11,611 |  |  | 36,679 |  |  | 33,529 |
Expenses: |  |  |  |  |  |  |  |
Real estate operating expenses |  | 6,203 |  |  | 5,578 |  |  | 17,120 |  |  | 16,462 |
Interest expense |  | 3,103 |  |  | 2,898 |  |  | 8,618 |  |  | 8,508 |
Depreciation |  | 3,956 |  |  | 2,916 |  |  | 10,867 |  |  | 8,714 |
Total expenses |  | 13,262 |  |  | 11,392 |  |  | 36,605 |  |  | 33,684 |
Total revenues less total expenses |  | (219) |  |  | 219 |  |  | 74 |  |  | (155) |
Other equity earnings |  | 2 |  |  | 5 |  |  | 110 |  |  | 26 |
Net (loss) income |  | $ | (217) |  |  | $ | 224 |  |  | $ | 184 |  |  | $ | (129) |
BRT's equity in (loss) earnings |  | $ | (75) |  |  | $ | 369 |  |  | $ | 637 |  |  | $ | 986 |
Schedule of Real Estate Properties Owned | Real estate properties, consists of the following (dollars in thousands):
|  | September 30, 2025 |  | December 31, 2024
Land |  | $ | 74,246 |  |  | $ | 74,246 |
Building |  | 616,979 |  |  | 616,979 |
Building improvements |  | 37,081 |  |  | 31,115 |
Real estate properties |  | 728,306 |  |  | 722,340 |
Accumulated depreciation |  | (126,165) |  |  | (106,425) |
Total real estate properties, net |  | $ | 602,141 |  |  | $ | 615,915 |
A summary of real estate properties owned is as follows (dollars in thousands):
|  | December 31, 2024 Balance |  | Improvements |  | Depreciation |  | Real Estate Sold |  | September 30, 2025 Balance
Multi-family |  | $ | 614,235 |  |  | $ | 5,966 |  |  | $ | (19,657) |  |  | $ | — |  |  | $ | 600,544 |
Retail shopping center and other |  | 1,680 |  |  | 158 |  |  | (83) |  |  | (158) |  |  | 1,597 |
Total real estate properties |  | $ | 615,915 |  |  | $ | 6,124 |  |  | $ | (19,740) |  |  | $ | (158) |  |  | $ | 602,141 |
At the indicated dates, real estate properties of the unconsolidated joint ventures consist of the following (dollars in thousands):
| September 30, 2025 |  | December 31, 2024
Land | $ | 54,272 |  |  | $ | 46,331 |
Building | 387,567 |  |  | 344,546 |
Building improvements | 16,693 |  |  | 9,560 |
Real estate properties | 458,532 |  |  | 400,437 |
Accumulated depreciation | (92,124) |  |  | (81,843) |
Total real estate properties, net | $ | 366,408 |  |  | $ | 318,594 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 + Details
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