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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Rental revenues $ 1,425 $ 1,231 $ 2,936 $ 2,491
Other income 24 10 144 26
Sales of residential condominium units 5,224 5,118 18,321 11,187
Total revenues 6,673 6,359 21,401 13,704
Operating Expenses        
Property operating expenses 811 766 2,078 1,570
Real estate taxes 451 416 914 806
General and administrative 1,835 1,503 3,279 3,005
Pension related costs 143 157 287 315
Cost of sales - residential condominium units 5,169 4,803 17,478 10,524
Transaction related costs     113  
Depreciation and amortization 1,003 1,004 2,003 2,007
Total operating expenses 9,412 8,649 26,152 18,227
Operating loss (2,739) (2,290) (4,751) (4,523)
Equity in net income (loss) from unconsolidated joint ventures   70 (4) 816
Equity in net gain on sale of unconsolidated joint venture property 7 4,490 3,065 4,490
Unrealized (loss) gain on warrants (10) 1,300 56 931
Interest expense, net (7,194) (3,295) (13,522) (6,064)
Interest expense - amortization of deferred finance costs (933) (378) (1,825) (814)
Loss before taxes (10,869) (103) (16,981) (5,164)
Tax expense (51) (120) (175) (190)
Net loss attributable to common stockholders (10,920) (223) (17,156) (5,354)
Other comprehensive (loss) income:        
Unrealized gain on pension liability 118 118 237 237
Comprehensive loss attributable to common stockholders $ (10,802) $ (105) $ (16,919) $ (5,117)
Loss per share - basic $ (0.29) $ (0.01) $ (0.45) $ (0.14)
Loss per share - diluted $ (0.29) $ (0.01) $ (0.45) $ (0.14)
Weighted average number of common shares - basic 37,993 37,186 37,800 37,145
Weighted average number of common shares - diluted 37,993 37,186 37,800 37,145