Alexander's sells Rego Park III land parcel for $71M, expects $54M gain

ALEXANDERS INC

Sale price $71 million includes consideration for Brownfield tax benefits and cost reimbursements.
Financial statement gain expected to be approximately $54 million.
Property consists of 670,000 buildable sq ft in an Opportunity Zone, eligible for 421a program and Brownfield credits.
Sale expected to close in Q2 2023, subject to customary closing conditions.

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