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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Rental revenues $ 2,600 $ 993 $ 4,062
Other income 355 263 0
Sale of residential condominium units 24,802 0 0
Total revenues 27,757 1,256 4,062
Operating Expenses      
Property operating expenses 7,409 8,166 5,328
Real estate taxes 74 79 328
General and administrative 4,492 4,955 5,349
Pension related costs 67 345 733
Cost of sale - residential condominium units 24,432 0 0
Transaction related costs 5 133 167
Depreciation and amortization 2,864 2,768 2,977
Total operating expenses 39,343 16,446 14,882
Gain on sale of school condominium 0 24,196 0
Gain on sale of real estate 0 0 9,521
Operating (loss) income (11,586) 9,006 (1,299)
Equity in net loss from unconsolidated joint ventures (555) (1,571) (819)
Unrealized gain on warrants 73 965 0
Interest (expense) income, net (3,007) (1,398) 67
Interest expense - amortization of deferred finance costs (1,134) (202) 0
(Loss) income before taxes (16,209) 6,800 (2,051)
Tax expense (265) (306) (128)
Net (loss) income attributable to common stockholders (16,474) 6,494 (2,179)
Other comprehensive income (loss):      
Unrealized gain on pension liability 816 1,015 344
Comprehensive (loss) income attributable to common stockholders $ (15,658) $ 7,509 $ (1,835)
(Loss) income per share - basic $ (0.49) $ 0.20 $ (0.07)
(Loss) income per share - diluted $ (0.49) $ 0.20 $ (0.07)
Weighted average number of common shares - basic 33,322 32,305 31,915
Weighted average number of common shares - diluted 33,322 32,860 31,915