Alexander's SEC Filings

Alexander’s, Inc. is calling a virtual annual stockholder meeting on May 21, 2026 to elect three Class II directors, approve a new 2026 Omnibus Stock Plan, hold a non-binding say-on-pay vote and ratify Deloitte & Touche LLP as auditor. The company has 5,107,290 common shares outstanding as of March 23, 2026, with Interstate Properties, its general partners and Vornado Realty Trust together owning about 58% and effectively controlling vote outcomes. The 2026 Omnibus Stock Plan would authorize up to 500,000 shares for future equity awards, replacing the 2016 plan’s remaining pool while preserving outstanding grants. Executives are primarily compensated through Vornado, with Alexander’s paying no salary or bonus to its CEO and CFO, and CEO Steven Roth receiving $195,744 in 2025 mainly from director fees and equity. Directors are majority independent under NYSE rules, though the company qualifies as a “controlled company” and is exempt from some governance requirements.

Alexander’s, Inc. entered a new amendment to Bloomberg L.P.’s long-term lease at its 731 Lexington Avenue property. The company granted Bloomberg a rent abatement of $56,808,900 for April 1, 2026 through December 1, 2026, while cutting Bloomberg’s tenant improvement fund by the same amount, from $113,617,800 to $56,808,900. Bloomberg’s lease otherwise remains in place, still covering the entire office condominium and expiring on February 8, 2040. Alexander’s also amended its related loan agreement, creating a free rent reserve account of $56,808,900, including about $53.9 million that was already held by the lender, to cover debt service during the abatement period, with any excess released to the company monthly.

Alexander’s, Inc. agreed to sell its Rego Park I shopping center in Queens, New York, to Northwell Health, Inc. for a gross purchase price of $235.5 million, with expected net proceeds of $202 million paid in cash at closing.

The property is a vacant, three-story, 338,000 square foot structure with a 1,236-space parking garage on 5.9 acres, recently vacated by relocating tenants to the adjacent Rego Park II center. The company expects to record an estimated financial statement gain of $147 million and a tax gain of $145 million, with $48 million recognized in 2025 and approximately $97 million in 2026.

The agreement includes customary representations, covenants and indemnities and is subject to customary closing conditions, with closing expected by the third quarter of 2026. Alexander’s remains a New York City-focused real estate investment trust with five properties.

The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC have filed an amended Schedule 13G reporting beneficial ownership of 146,472.81 shares of Alexander's Inc. common stock, representing 2.9% of the class.

The firms report only shared voting and shared dispositive power over these shares, with no sole authority. They state that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Alexander's Inc.

Alexander’s, Inc., a New York City–focused REIT, reports net income of $28.2 million for 2025, down from $43.4 million in 2024, and funds from operations of $63.0 million versus $78.0 million. The portfolio totals 2.45 million square feet with 94.6% commercial and 97.7% residential occupancy.

Bloomberg remains the dominant tenant, contributing $129.3 million, or about 61% of rental revenue. Home Depot’s 83,000-square-foot lease at 731 Lexington expired in early 2025, while Burlington and Marshalls relocated to Rego Park II, leaving Rego Park I vacant as the company negotiates a potential sale.

Alexander’s refinanced the $175 million Rego Park II mortgage at SOFR plus 2.00% through 2030 and restructured the $300 million 731 Lexington retail loan into senior and junior tranches maturing in 2035. Total mortgages payable were $836.7 million, representing a 46% debt-to-enterprise-value ratio.

The Vanguard Group filed an amended Schedule 13G reporting beneficial ownership of 199,629 shares of Alexander's Inc. common stock, representing 3.9% of the class as of 12/31/2025. Vanguard has shared voting power over 16,701 shares and shared dispositive power over all 199,629 shares, with no sole voting or dispositive power.

The filing notes Vanguard’s clients have the economic rights to dividends and sale proceeds, with no other single client holding more than 5% of the class. Vanguard also discloses an internal realignment effective 01/12/2026, after which certain subsidiaries are expected to report beneficial ownership separately while pursuing the same investment strategies.

Alexander’s, Inc. is restructuring the $300,000,000 mortgage on the retail condominium units at its 731 Lexington Avenue property. Two wholly owned subsidiaries entered into an amended and restated loan agreement that extends the debt maturity to December 23, 2035.

The original loan is now split into a $132,500,000 Senior Note (A‑Note) with current interest at 7.00% and a $167,500,000 Junior Note (C‑Note) with 4.55% interest that is not paid currently. Alexander’s subsidiary ALX Rego also provided a separate B‑Note facility for capital and re‑leasing costs and A‑Note interest, accruing 13.5% interest (with amounts above $65 million used to pay A‑Note interest accruing at 7.00%), also maturing in 2035.

ALX Rego purchased the A‑Note at par from the prior lenders, while those lenders retain the C‑Note. Cash flows from the property will be applied first to repay the A‑Note, then the B‑Note, and finally shared 70% to the C‑Note and 30% to the borrower. After a qualified refinancing or sale following the third anniversary, any remaining unpaid debt after this waterfall will be forgiven. The amended loan is non‑recourse to Alexander’s, subject to limited “bad‑boy” carveouts.

Alexander's, Inc. refinanced a $175 million loan on its 615,000 square foot Rego Park II shopping center in Queens, New York. The new interest-only debt is priced at SOFR plus 2.00%, currently totaling 5.82%, and now matures in December 2030, extending the property's debt maturity profile.

The company paid down $23.5 million on the prior $198.5 million loan, which had carried a lower spread of SOFR plus 1.45% and was scheduled to mature on December 12, 2025. The filing also notes that this refinancing creates a new direct financial obligation for the company, and a related press release is attached as an exhibit.

Alexander’s, Inc. (ALX) filed its Q3 2025 report, showing stable quarterly operating metrics alongside key financing and tenant updates. Net income was $5.97 million ($1.16 per share) versus $6.68 million a year ago, as rental revenues declined to $53.42 million from $55.68 million. FFO (non‑GAAP) was $14.92 million ($2.91 per share), modestly above last year’s $14.58 million.

Year to date, net income was $24.40 million ($4.75 per share) and FFO was $50.52 million ($9.84 per share), reflecting lower rental revenues after Home Depot’s lease at 731 Lexington expired on January 31, 2025 (prior annual rent about $15 million). Bloomberg accounted for $96.66 million of rental revenue for the nine months, approximately 60% of rental revenues. Commercial occupancy was 94.9% and residential 97.1%.

Liquidity totaled $352.26 million in cash and restricted cash. The $300 million mortgage on the 731 Lexington retail condominium was extended 60 days on August 1, 2025; the Company did not repay on the extended maturity date of October 3, 2025 and is in discussions with lenders regarding a potential restructuring. Mortgages payable were $987.10 million net, and interest expense declined notably year over year.