Alexander's Inc. Completes Sale of Rego Park I

Alexander's, Inc. announced the completion of the sale of its Rego Park I shopping center in Queens to Northwell Health, Inc. The gross sales price was $235.5 million, with net proceeds of $203 million. The company received $224 million at closing after accounting for $21 million in costs paid prior to closing. This transaction is expected to result in a financial statement gain of approximately $148 million, to be recognized in the second quarter. The associated tax gain is approximately $145 million, with $48 million recognized in 2025 and the remaining $97 million to be recognized in 2026. Alexander's, Inc. is a real estate investment trust with four properties in New York City.