Discontinued Operations

3 Months Ended

Mar. 31, 2020

Discontinued Operations And Disposal Groups [Abstract]

18. 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 13 – Consolidation of Variable Interest Entities for further discussion regarding the accounting related to discontinued operations.

The Company did not carry any assets or liabilities from discontinued operations on the Balance Sheet as of March 31, 2020 and December 31, 2019.

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 March 31,
	2020		2019
Revenues
Revenue—homebuilding	$	—	$	6,769
Total revenue		—		6,769
Expenses
Cost of sales—homebuilding		—		6,722
Sales and marketing		—		114
General and administrative		—		1
Operating (loss)		—		(68	)
Income tax expense		—		3
Net (loss) from discontinued operations		—		(71	)
Net income attributable to non-controlling interests		—		300
Net (loss) attributable to Comstock Holding Companies, Inc.	$	—	$	(371	)