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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Rental revenues $ 1,477 $ 967 $ 3,968 $ 1,991
Other income 20 30 46 332
Sales of residential condominium units 17,509 1,428 28,696 1,428
Total revenues 19,006 2,425 32,710 3,751
Operating Expenses        
Property operating expenses 1,220 897 2,790 4,692
Real estate taxes 486 271 1,292 429
General and administrative 1,431 1,440 4,436 4,070
Pension related costs 158 158 473 483
Cost of sales - residential condominium units 16,714 1,395 27,238 1,395
Depreciation and amortization 1,006 1,001 3,013 3,001
Total operating expenses 21,015 5,162 39,242 14,070
Operating loss (2,009) (2,737) (6,532) (10,319)
Equity in net (loss) income from unconsolidated joint ventures (14)   802 (636)
Equity in net gain on sale of unconsolidated joint venture property     4,490  
Unrealized gain (loss) on warrants 64 1,718 995 (192)
Interest expense, net (3,549) (2,367) (9,613) (5,014)
Interest expense - amortization of deferred finance costs (763) (269) (1,577) (1,213)
Loss before taxes (6,271) (3,655) (11,435) (17,374)
Tax (expense) benefit (82) 47 (272) (87)
Net loss attributable to common stockholders (6,353) (3,608) (11,707) (17,461)
Other comprehensive loss:        
Unrealized gain on pension liability 119 119 356 356
Comprehensive loss attributable to common stockholders $ (6,234) $ (3,489) $ (11,351) $ (17,105)
Loss per share - basic $ (0.17) $ (0.11) $ (0.31) $ (0.53)
Loss per share - diluted $ (0.17) $ (0.11) $ (0.31) $ (0.53)
Weighted average number of common shares - basic 37,260 32,756 37,184 32,681
Weighted average number of common shares - diluted 37,260 32,756 37,184 32,681