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Note 8 - Rental Income Under Operating Leases
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Lessor, Operating Leases [Text Block]

8. Rental Income under Operating Leases

 

The Company’s commercial properties are leased to commercial tenants under operating leases with fixed terms of varying lengths. As of December 31, 2020, the minimum future cash rents receivable (excluding tenant reimbursements for operating expenses) under non-cancelable operating leases for the commercial tenants in each of the next five years and thereafter are as follows:

 

2021

 $29,646 

2022

  30,183 

2023

  28,945 

2024

  28,564 

2025

  22,956 

Thereafter

  11,638 

Total

 $151,932 

 

The Company has commercial leases with the City of New York that comprised approximately 21%, 19% and 19% of total revenues for the years ended December 31, 2020, 2019 and 2018, respectively.