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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 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
Pension related costs 135 143 265 287
Cost of sales - residential condominium units   5,169 1,437 17,478
Transaction related costs       113
Depreciation and amortization 4 1,003 766 2,003
Total operating expenses 2,045 9,412 6,260 26,152
Operating loss (1,672) (2,739) (3,530) (4,751)
Gain on contribution to joint venture     20,976  
Equity in net loss from unconsolidated joint ventures     (5,962) (4)
Equity in net gain on sale of unconsolidated joint venture property   7   3,065
Unrealized (loss) gain on warrants   (10)   56
Interest expense, net   (7,194) (3,883) (13,522)
Interest expense - amortization of deferred finance costs   (933) (334) (1,825)
(Loss) income before taxes (1,672) (10,869) 7,267 (16,981)
Tax expense (54) (51) (140) (175)
Net (loss) income attributable to common stockholders (1,726) (10,920) 7,127 (17,156)
Other comprehensive income:        
Unrealized gain on pension liability 120 118 240 237
Comprehensive (loss) income attributable to common stockholders $ (1,606) $ (10,802) $ 7,367 $ (16,919)
(Loss) income per share - basic $ (0.03) $ (0.29) $ 0.12 $ (0.45)
(Loss) income per share - diluted $ (0.03) $ (0.29) $ 0.12 $ (0.45)
Weighted average number of common shares - basic 65,588 37,993 59,222 37,800
Weighted average number of common shares - diluted 65,588 37,993 59,222 37,800