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Discontinued Operations | 9 Months Ended
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Sep. 30, 2019
Discontinued Operations And Disposal Groups [Abstract] |
Discontinued Operations | 20. DISCONTINUED OPERATIONS On April 30, 2019, the Company entered into a Master Transfer Agreement (the “MTA”) with Comstock Development Services, LC (“CDS”), an entity wholly owned by Christopher Clemente, the Chief Executive Officer of the Company, and FR54, LC (“FR54”), an entity also controlled by Mr. Clemente, that sets forth certain transactions to complete the Company’s previously announced exit from the homebuilding and land development business in favor of a migration to an asset management model. Refer to Note 15 – Consolidation of Variable Interest Entities for further discussion regarding the accounting related to discontinued operations. The carrying amount of the assets and liabilities from discontinued operations, which were included within the Company’s prior Homebuilding segment, have been reclassified from their historical balance sheet presentation to assets and liabilities from discontinued operations as follows:
|  | September 30, 2019 |  |  | December 31, 2018 |
ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 4,926 |
Restricted cash |  |  | — |  |  |  | 1,231 |
Trade receivables |  |  | — |  |  |  | 527 |
Real estate inventories |  |  | — |  |  |  | 20,082 |
Other assets, net |  |  | — |  |  |  | 1,102 |
TOTAL ASSETS |  | $ | — |  |  | $ | 27,868 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  |  | — |  |  |  | 4,839 |
Notes payable - secured by real estate inventories, net of deferred financing charges |  |  | — |  |  |  | 12,510 |
Income taxes payable |  |  | — |  |  |  | 50 |
TOTAL LIABILITIES |  |  | — |  |  |  | 17,399 |
The operating results of the discontinued operations that are reflected on the consolidated statement of operations within the net income (loss) from discontinued operations are as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue—homebuilding |  | $ | 1,305 |  |  | $ | 11,497 |  |  | $ | 14,919 |  |  | $ | 27,767 |
Revenue—real estate services |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 138 |
Total revenue |  |  | 1,305 |  |  |  | 11,498 |  |  |  | 14,919 |  |  |  | 27,905 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales—homebuilding |  |  | 1,281 |  |  |  | 11,727 |  |  |  | 14,901 |  |  |  | 28,796 |
Impairment charges |  |  | — |  |  |  | 1,354 |  |  |  | — |  |  |  | 2,128 |
Sales and marketing |  |  | 89 |  |  |  | 280 |  |  |  | 270 |  |  |  | 703 |
General and administrative |  |  | 1 |  |  |  | — |  |  |  | 21 |  |  |  | — |
Interest and real estate tax expense |  |  | — |  |  |  | 13 |  |  |  | — |  |  |  | 74 |
Operating (loss) |  |  | (66 | ) |  |  | (1,876 | ) |  |  | (273 | ) |  |  | (3,796 | )
Other (loss), net |  |  | — |  |  |  | (5 | ) |  |  | — |  |  |  | — |
(Loss) from discontinued operations before income taxes |  |  | (66 | ) |  |  | (1,881 | ) |  |  | (273 | ) |  |  | (3,796 | )
Income tax expense |  |  | — |  |  |  | 6 |  |  |  | 10 |  |  |  | 23 |
Net (loss) from discontinued operations |  |  | (66 | ) |  |  | (1,887 | ) |  |  | (283 | ) |  |  | (3,819 | )
Net income attributable to non-controlling interests |  |  | — |  |  |  | 314 |  |  |  | 313 |  |  |  | 594 |
Net (loss) attributable to Comstock Holding Companies, Inc. |  |  | (66 | ) |  |  | (2,201 | ) |  |  | (596 | ) |  |  | (4,413 | )

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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