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Investments in Unconsolidated Joint Ventures - Statement of operations (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues          
Rental revenues     $ 1,425 $ 798 $ 2,936
Other income $ 373   24 493 144
Sales of residential condominium units     5,224 1,439 18,321
Total revenues 373   6,673 2,730 21,401
Operating Expenses          
Property operating expenses 20   811 437 2,078
Real estate taxes     451 363 914
General and administrative 1,886   1,835 2,992 3,279
Cost of sales - residential condominium units     5,169 1,437 17,478
Transaction related costs         113
Total operating expenses 2,045   9,412 6,260 26,152
Operating loss (1,672)   (2,739) (3,530) (4,751)
Interest expense     (7,194) (3,883) (13,522)
Interest expense - amortization of deferred finance costs     (933) (334) (1,825)
Net (loss) income attributable to common stockholders (1,726) $ 8,853 $ (10,920) 7,127 (17,156)
Equity in net loss from unconsolidated joint ventures   $ (5,962)   (5,962) (4)
Unconsolidated Joint Ventures          
Revenues          
Rental revenues 1,431     2,263 1,788
Other income 40     40  
Sales of residential condominium units 2,114     2,114  
Total revenues 3,585     4,417 1,788
Operating Expenses          
Property operating expenses 1,055     1,692 563
Real estate taxes 728     1,101 10
General and administrative 351     560  
Cost of sales - residential condominium units 2,241     2,241  
Transaction related costs 60     60  
Amortization 194     541 299
Depreciation 419     631 437
Total operating expenses 5,048     6,826 1,309
Operating loss (1,463)     (2,409) 479
Interest expense (8,130)     (13,081) (483)
Interest expense - amortization of deferred finance costs       (1,220) (31)
Interest income - change in fair market value of interest rate swap (5)     (12)  
Net (loss) income attributable to common stockholders $ (9,588)     $ (16,698) $ (35)