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Note 10 - Segment Reporting | 3 Months Ended
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Mar. 31, 2023
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | 10. Segment Reporting The Company has classified its reporting segments into commercial and residential rental properties. The commercial reporting segment includes the 141 Livingston Street property and portions of the 250 Livingston Street, Tribeca House and Aspen properties. The residential reporting segment includes the Flatbush Gardens property, the Clover House property, the 10 West 65th Street property, the 1010 Pacific Street property and portions of the 250 Livingston Street, Tribeca House and Aspen properties. The Company’s income from operations by segment for the three months ended March 31, 2023 and 2022, is as follows (unaudited):
Three months ended March 31, 2023 |  | Commercial |  |  | Residential |  |  | Total |
Rental income |  | $ | 9,727 |  |  | $ | 23,940 |  |  | $ | 33,667 |
Total revenues |  | $ | 9,727 |  |  | $ | 23,940 |  |  | $ | 33,667 |
Property operating expenses |  |  | 1,215 |  |  |  | 6,884 |  |  |  | 8,099 |
Real estate taxes and insurance |  |  | 2,249 |  |  |  | 6,287 |  |  |  | 8,536 |
General and administrative |  |  | 571 |  |  |  | 2,722 |  |  |  | 3,293 |
Transaction pursuit costs |  |  | — |  |  |  | — |  |  |  | — |
Depreciation and amortization |  |  | 1,442 |  |  |  | 5,383 |  |  |  | 6,825 |
Total operating expenses |  |  | 5,477 |  |  |  | 21,276 |  |  |  | 26,753 |
Income from operations |  | $ | 4,250 |  |  | $ | 2,664 |  |  | $ | 6,914 |
Three months ended March 31, 2022 |  | Commercial |  |  | Residential |  |  | Total |
Rental income |  | $ | 10,588 |  |  | $ | 21,462 |  |  | $ | 32,050 |
Total revenues |  |  | 10,588 |  |  |  | 21,462 |  |  |  | 32,050 |
Property operating expenses |  |  | 1,143 |  |  |  | 6,396 |  |  |  | 7,539 |
Real estate taxes and insurance |  |  | 2,020 |  |  |  | 5,911 |  |  |  | 7,931 |
General and administrative |  |  | 524 |  |  |  | 2,418 |  |  |  | 2,942 |
Transaction pursuit costs |  |  | 79 |  |  |  | 345 |  |  |  | 424 |
Depreciation and amortization |  |  | 1,356 |  |  |  | 5,349 |  |  |  | 6,705 |
Total operating expenses |  |  | 5,122 |  |  |  | 20,419 |  |  |  | 25,541 |
Income from operations |  | $ | 5,466 |  |  | $ | 1,043 |  |  | $ | 6,509 |
The Company’s total assets by segment are as follows, as of:
|  | Commercial |  |  | Residential |  |  | Total |
March 31, 2023 (unaudited) |  | $ | 314,324 |  |  | $ | 923,074 |  |  | $ | 1,237,398 |
December 31, 2022 |  |  | 312,404 |  |  |  | 917,227 |  |  |  | 1,229,631 |
The Company’s interest expense by segment for the three months ended March 31, 2023 and 2022, is as follows (unaudited):
|  | Commercial |  |  | Residential |  |  | Total |
Three months ended March 31, |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 2,460 |  |  | $ | 7,675 |  |  | $ | 10,135 |
2022 |  | $ | 2,494 |  |  | $ | 7,491 |  |  | $ | 9,985 |
The Company’s capital expenditures, including acquisitions, by segment for the three months ended March 31, 2023 and 2022, are as follows (unaudited):
|  | Commercial |  |  | Residential |  |  | Total |
Three months ended March 31, |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | $ | 1,677 |  |  | $ | 9,489 |  |  | $ | 11,166 |
2022 |  | $ | 790 |  |  | $ | 15,644 |  |  | $ | 16,434 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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