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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2022
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

NOTE 15 – SUBSEQUENT EVENTS

In February 2023, we sold our interest in 250 N 10th Avenue to our joint venture partner resulting in net proceeds of approximately $1.2 million after repayment of our Partner Loan and release from the mortgage guaranty.

Our secured line of credit, which was scheduled to mature on March 22, 2023, had its maturity date extended to May 22, 2023.  The Paramus property purchase and sale agreement, which was subject to site plan approval, was terminated by the buyer in January 2023.  The Company is in discussions with the lender regarding a further extension.

Other than as disclosed above and elsewhere in these consolidated financial statements, there were no subsequent events requiring adjustment to, or disclosure in, the consolidated financial statements.