Alexander’s Completes Sale of Rego Park I

Alexander’s (NYSE: ALX) completed the sale of its Rego Park I property in Queens, New York, to Northwell Health on May 28, 2026.

Rhea-AI Summary

Alexander’s (NYSE: ALX) completed the sale of its Rego Park I property in Queens, New York, to Northwell Health on May 28, 2026.

The gross sales price was $235.5 million, net proceeds were $203 million, and cash received at closing was $224 million. Alexander’s expects a financial statement gain of approximately $148 million in Q2 2026 and a tax gain of about $145 million, with $48 million recognized in 2025 and roughly $97 million in 2026.

Alexander’s is a REIT owning four properties in New York City.

Positive

• Completed Rego Park I sale for gross price of $235.5 million
• Generated net proceeds of approximately $203 million from the transaction
• Received $224 million of sale proceeds at closing after prior costs
• Expects financial statement gain of about $148 million in Q2 2026
• Total tax gain of roughly $145 million across 2025 and 2026

Negative

• None.

Argus May 29 session

-1.47% close to close Open Argus

Details

News Market Reaction – ALX

In the May 29 session, ALX declined 1.47%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement confirms closing of the Rego Park I sale to Northwell Health at a $235.5M gross pr...

Analysis

This announcement confirms closing of the Rego Park I sale to Northwell Health at a $235.5M gross price, yielding $203M in net proceeds and a projected $148M financial statement gain in Q2. Together with a $145M tax gain spread across 2025–2026, it finalizes a transaction first outlined in March. Investors may track how Alexander’s deploys the $224M received at closing and the impact on its remaining four New York City properties.

Key Figures

Gross sales price: $235.5M Net proceeds: $203M Costs paid pre-closing: $21M +5 more

Gross sales price

$235.5M

Rego Park I property sale

Net proceeds

$203M

Rego Park I transaction

Costs paid pre-closing

$21M

Transaction-related costs before closing

Proceeds at closing

$224M

Cash proceeds received at closing

Financial statement gain

$148M

Gain to be recognized in Q2 2026

Tax gain

$145M

Total tax gain from Rego Park I sale

Tax gain recognized 2025

$48M

Portion of tax gain in 2025

Tax gain recognized 2026

$97M

Remaining tax gain in 2026

Historical Context

5 past events · Latest: May 04

5 events

1. May 04

   Q1 2026 earnings

   24h Move

   -0.2%

   Reported lower net income and FFO versus Q1 2025 comparables.

2. Apr 29

   Dividend declaration

   24h Move

   +0.4%

   Declared regular quarterly dividend of $4.50 per common share.

3. Apr 21

   Earnings date notice

   24h Move

   +0.3%

   Announced Q1 2026 earnings release date and joint conference call.

4. Mar 09

   Rego Park I sale

   24h Move

   +3.5%

   Agreed to sell Rego Park I with sizable expected gain and net proceeds.

5. Feb 09

   Q4 2025 earnings

   24h Move

   -11.1%

   Reported weaker Q4 and full-year 2025 net income and FFO.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

forward-looking statements, real estate investment trust, form 10-k

3 terms

forward-looking statements regulatory

"Certain statements contained herein constitute forward-looking statements as such term is defined..."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

real estate investment trust financial

"Alexander’s, Inc. is a real estate investment trust that has four properties..."

A real estate investment trust (REIT) is a company that owns and manages income-producing properties—like apartment buildings, shopping centers, offices, or warehouses—and is required to pass most of its rental income to shareholders as dividends. Think of it as a shared property owner: instead of buying a whole building, investors buy a slice of a portfolio that pays regular income and can offer exposure to property values and rental markets without direct management. REITs matter to investors for predictable income, diversification, and liquidity compared with owning physical real estate.

form 10-k regulatory

"see "Item 1A. Risk Factors" in Part I of our Annual Report on Form 10-K..."

A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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PARAMUS, N.J., May 28, 2026 (GLOBE NEWSWIRE) -- Alexander’s, Inc. (NYSE: ALX) announced today that it has completed the previously announced sale of its Rego Park I property, located in Queens, New York, to Northwell Health, Inc.

The gross sales price was $235.5 million, and the net proceeds were $203 million. Prior to the closing, Alexander’s already paid $21 million of costs and accordingly, it received $224 million of proceeds at closing.

There will be a financial statement gain of approximately $148 million, which will be recognized in the second quarter. The tax gain from this transaction is approximately $145 million, of which $48 million was recognized in 2025 and approximately $97 million will be recognized in 2026.

Alexander’s, Inc. is a real estate investment trust that has four properties in New York City.

CONTACT:
GARY HANSEN
(201) 587-8541

Certain statements contained herein constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. There can be no assurance that the actual results of such forward-looking statements will not differ materially from those reflected in such forward-looking statements. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine the outcome of these and our other forward-looking statements are beyond our ability to control or predict. Currently, some of the factors are the Company’s operating results and business generally, and changes in the global, national, regional and local economies and financial markets and the real estate market in general. For further discussion of factors that could materially affect the outcome of our forward-looking statements, see "Item 1A. Risk Factors" in Part I of our Annual Report on Form 10-K for the year ended December 31, 2025. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable securities laws.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Alexander’s (NYSE: ALX) announce about the Rego Park I sale on May 28, 2026?

Alexander’s announced it completed the sale of its Rego Park I property to Northwell Health for a gross price of $235.5 million. According to Alexander’s, the deal produced net proceeds of about $203 million and will generate a substantial financial statement gain.

How much cash did Alexander’s (ALX) receive at closing for the Rego Park I property?

Alexander’s received $224 million of proceeds at closing for Rego Park I. According to Alexander’s, it had already paid $21 million of costs before closing, resulting in net proceeds of approximately $203 million from the $235.5 million gross sales price.

What financial statement gain will Alexander’s (ALX) record from the Rego Park I sale?

Alexander’s expects to record a financial statement gain of about $148 million from the Rego Park I sale. According to Alexander’s, this gain will be recognized in the second quarter of 2026, reflecting the completed transaction and related accounting effects.

How is the tax gain from Alexander’s (ALX) Rego Park I sale split between 2025 and 2026?

The tax gain from the Rego Park I sale is approximately $145 million. According to Alexander’s, about $48 million of this gain was recognized in 2025, with roughly $97 million expected to be recognized during 2026 for tax purposes.

What does the Rego Park I sale mean for Alexander’s (ALX) New York City property portfolio?

Alexander’s describes itself as a real estate investment trust with four properties in New York City. According to Alexander’s, following completion of the Rego Park I sale, the company continues to focus its portfolio on New York City real estate assets.

Will the Rego Park I transaction affect Alexander’s (ALX) results in upcoming quarters?

The Rego Park I sale will impact results through recognized gains. According to Alexander’s, it expects a financial statement gain of about $148 million in Q2 2026 and a total tax gain of roughly $145 million spread across 2025 and 2026.