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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Rental revenues $ 1,460 $ 1,477 $ 4,396 $ 3,968
Other income 29 20 173 46
Sales of residential condominium units 9,162 17,509 27,483 28,696
Total revenues 10,651 19,006 32,052 32,710
Operating Expenses        
Property operating expenses 786 1,220 2,864 2,790
Real estate taxes 668 486 1,582 1,292
General and administrative 1,511 1,431 4,790 4,436
Pension related costs 144 158 431 473
Cost of sales - residential condominium units 9,779 16,714 27,257 27,238
Transaction related costs     113  
Depreciation and amortization 1,006 1,006 3,009 3,013
Total operating expenses 13,894 21,015 40,046 39,242
Operating loss (3,243) (2,009) (7,994) (6,532)
Equity in net (loss) income from unconsolidated joint ventures   (14) (4) 802
Equity in net gain on sale of unconsolidated joint venture property     3,065 4,490
Unrealized gain on warrants 14 64 70 995
Interest expense, net (7,901) (3,549) (21,423) (9,613)
Interest expense - amortization of deferred finance costs (758) (763) (2,583) (1,577)
Loss before taxes (11,888) (6,271) (28,869) (11,435)
Tax expense   (82) (175) (272)
Net loss attributable to common stockholders (11,888) (6,353) (29,044) (11,707)
Other comprehensive (loss) income:        
Unrealized gain on pension liability 119 119 356 356
Comprehensive loss attributable to common stockholders $ (11,769) $ (6,234) $ (28,688) $ (11,351)
Loss per share - basic $ (0.31) $ (0.17) $ (0.76) $ (0.31)
Loss per share - diluted $ (0.30) $ (0.17) $ (0.75) $ (0.31)
Weighted average number of common shares - basic 38,789 37,260 38,134 37,184
Weighted average number of common shares - diluted 38,789 37,260 38,134 37,184