Exhibit 12.1

Alexander's, Inc.

Ratios of Earnings to Fixed Charges

	Year Ended 12/31
	2010			2011		2012		2013		2014
Earnings:
Pretax income from continuing operations	$	46,335		$	54,789	$	50,105	$	54,503	$	67,055
Fixed charges		46,973			44,147		45,901		44,789		32,920
Capitalized interest		(1,269	)		—		—		—		(603	)
Total earnings (1)	$	92,039		$	98,936	$	96,006	$	99,292	$	99,372
Fixed charges (2):
Interest and debt expense	$	45,455		$	43,898	$	45,652	$	44,540	$	32,068
1/3 of rent expense—interest factor (3)		249			249		249		249		249
Capitalized interest		1,269			—		—		—		603
Total fixed charges (4)	$	46,973		$	44,147	$	45,901	$	44,789	$	32,920
Ratio of earnings to fixed charges		1.96			2.24		2.09		2.22		3.02

(1) For purposes of the calculation, earnings represents pretax income from continuing operations plus fixed charges less capitalized interest.

(2) There were no preference securities outstanding during the periods shown.

(3) This is the portion of operating lease rental expense deemed to represent the interest factor.

(4) For purposes of this calculation, fixed charges represent interest and debt expense from continuing operations, including amortization of deferred debt issuance costs plus the portion of operating lease rental expense that management considers representative of the interest factor plus capitalized interest.