Alexander’s (NYSE: ALX) nets $203M from Rego Park I property sale
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Alexander’s, Inc. has completed the previously announced sale of its Rego Park I property in Queens, New York, to Northwell Health, Inc. for a gross sales price of $235.5 million. The company reports net proceeds of $203 million from the transaction.
Alexander’s had already paid $21 million of costs before closing and therefore received $224 million at closing. The company expects to record a financial statement gain of approximately $148 million in the second quarter. The tax gain is approximately $145 million, with $48 million recognized in 2025 and about $97 million in 2026.
Positive
- Major asset sale with substantial cash proceeds: Alexander’s completed the sale of Rego Park I for a gross sales price of $235.5 million, generating net proceeds of $203 million and $224 million of cash received at closing.
- Significant gains to be recognized: The company expects an approximate financial statement gain of $148 million in the second quarter and a total tax gain of about $145 million, enhancing reported profitability over 2025–2026.
Negative
- None.
Insights
Sale converts a major asset into cash and a sizable gain.
Alexander’s, Inc. has turned its Rego Park I asset into liquidity, with a gross sales price of $235.5 million and net proceeds of $203 million. This is meaningful for a REIT that states it has four properties in New York City.
The company expects an approximate financial statement gain of $148 million in the second quarter and a total tax gain of about $145 million, split between $48 million in 2025 and roughly $97 million in 2026. These gains can significantly affect reported earnings during those periods.
The filing does not specify how the $203 million in net proceeds will be used, so the longer-term impact depends on future capital allocation decisions. Subsequent reports and filings may clarify whether the cash is directed toward new investments, balance sheet actions, or other corporate purposes.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Gross sales price: $235.5 million
Net proceeds: $203 million
Proceeds received at closing: $224 million
+5 more
8 metrics
Gross sales price
$235.5 million
Rego Park I property sale to Northwell Health
Net proceeds
$203 million
Net proceeds from Rego Park I transaction
Proceeds received at closing
$224 million
Cash received at closing after $21 million of costs already paid
Financial statement gain
$148 million
Approximate gain to be recognized in the second quarter
Total tax gain
$145 million
Approximate tax gain from the Rego Park I sale
Tax gain recognized in 2025
$48 million
Portion of tax gain recognized in 2025
Tax gain recognized in 2026
$97 million
Approximate remaining tax gain recognized in 2026
Number of properties
4 properties
Alexander’s portfolio in New York City
Key Terms
Regulation FD Disclosure, real estate investment trust, forward-looking statements, safe harbor for forward-looking statements, +1 more
5 terms
Regulation FD Disclosure regulatory
"Item 7.01. Regulation FD Disclosure. On May 28, 2026, Alexander’s, Inc. issued a press release"
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
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.
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.
safe harbor for forward-looking statements regulatory
"we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act"
A legal protection that allows companies to discuss plans, goals or expectations about the future without automatically being sued if those projections turn out wrong, provided they clearly label them as forward-looking and include cautionary language. It matters to investors because it lets management share forecasts and strategies—like a weather forecast for a business—while signaling that outcomes are uncertain, so investors should weigh stated assumptions and listed risks rather than treat projections as guarantees.
tax gain financial
"The tax gain from this transaction is approximately $145 million, of which $48 million was recognized"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Charter)
(State or Other | (Commission | (IRS Employer | ||||||||||||
Jurisdiction of Incorporation) | File Number) | Identification No.) | ||||||||||||
(Address of Principal Executive offices) | (Zip Code) | |||||||||||||
Registrant’s telephone number, including area code: (201 ) 587-8541
Former name or former address, if changed since last report: N/A
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2.):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Item 7.01. Regulation FD Disclosure.
On May 28, 2026, Alexander’s, Inc. issued a press release announcing that it has completed the previously announced sale of its Rego Park I shopping center, located in Queens, to Northwell Health, Inc. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference solely for purposes of this Item 7.01 disclosure. Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or under the Exchange Act.
Item 9.01. Financial Statements and Exhibits.
| Exhibit No. | Description | |||||||||||||
99.1 | Press Release, dated May 28, 2026. | |||||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||||||||
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ALEXANDER’S, INC. | |||||||||||
(Registrant) | |||||||||||
| By: | /s/ Gary Hansen | ||||||||||
| Name: | Gary Hansen | ||||||||||
| Title: | Chief Financial Officer (duly authorized officer and principal financial and accounting officer) | ||||||||||
Date: May 28, 2026
3
Exhibit 99.1
May 28, 2026
Alexander’s Completes Sale of Rego Park I
PARAMUS, NEW JERSEY..........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
What transaction did Alexander’s Inc (ALX) announce in this 8-K filing?
Alexander’s announced it has completed the previously disclosed sale of its Rego Park I property in Queens, New York, to Northwell Health, Inc. The deal converts a significant real estate holding into cash proceeds and generates large accounting and tax gains for upcoming reporting periods.
What was the sale price for Alexander’s (ALX) Rego Park I property?
The gross sales price for Alexander’s Rego Park I property was $235.5 million. This figure represents the headline valuation for the Queens, New York asset in the transaction with Northwell Health, Inc., before factoring in transaction costs and other adjustments to derive net proceeds.
How much cash did Alexander’s Inc (ALX) receive from the Rego Park I sale?
Alexander’s reports net proceeds of $203 million from the sale and states it received $224 million at closing, having already paid $21 million of costs beforehand. These amounts describe the cash inflow relative to transaction-related expenditures around closing.
What gain will Alexander’s (ALX) recognize on the Rego Park I sale?
The company expects a financial statement gain of approximately $148 million, to be recognized in the second quarter. Separately, it estimates a total tax gain of about $145 million, with $48 million recorded in 2025 and roughly $97 million in 2026.
How will the tax gain from Alexander’s (ALX) Rego Park I sale be recognized?
Alexander’s estimates the tax gain from the sale at about $145 million. Of this, $48 million was recognized in 2025, while approximately $97 million is expected to be recognized in 2026, spreading the tax impact across two fiscal years.
What type of company is Alexander’s Inc (ALX) after the Rego Park I sale?
Alexander’s, Inc. remains a real estate investment trust focused on New York City. The company states it has four properties in New York City, and the completed Rego Park I sale represents a significant portfolio change but does not alter its REIT status.