SaleMay 28, 2026, 04:24 PM
Alexander's Completes $235.5M Rego Park I Property Sale
AI Summary
Alexander's, Inc. announced the completion of the previously announced sale of its Rego Park I shopping center in Queens, New York, to Northwell Health, Inc. The transaction generated a gross sales price of $235.5 million, resulting in net proceeds of $203 million. The company expects to recognize a financial statement gain of approximately $148 million in the second quarter of 2026, with a total tax gain of $145 million spread across 2025 and 2026.
Key Highlights
- Completed the sale of its Rego Park I shopping center to Northwell Health, Inc.
- The gross sales price for the property was $235.5 million.
- Net proceeds from the sale amounted to $203 million.
- Received $224 million in proceeds at closing, after $21 million in prior costs.
- Expects to recognize a financial statement gain of approximately $148 million in Q2 2026.
- The total tax gain from the transaction is approximately $145 million, with $97 million recognized in 2026.
Price Impact
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