SaleMay 28, 2026, 04:55 PM
Alexander's Completes Rego Park I Sale for $235.5M; $148M Gain
AI Summary
Alexander's, Inc. announced the completion of the previously disclosed sale of its Rego Park I property in Queens, New York, to Northwell Health, Inc. The transaction generated a gross sales price of $235.5 million, with net proceeds totaling $203 million. The company expects to recognize a financial statement gain of approximately $148 million in the second quarter.
Key Highlights
- Alexander's completed the sale of its Rego Park I property in Queens, New York.
- The gross sales price for the property was $235.5 million.
- Net proceeds from the sale amounted to $203 million.
- Alexander's received $224 million in proceeds at closing, after $21 million in prior costs.
- A financial statement gain of approximately $148 million will be recognized in Q2.
- The tax gain is approximately $145 million, with $48 million recognized in 2025 and $97 million in 2026.
Price Impact
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