An unknown buyer completed the acquisition of Alexander?s of Rego Park III, Inc. from Alexander's, Inc.
May 18, 2023
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An unknown buyer entered into an agreement to acquire Alexander?s of Rego Park III, Inc. from Alexander's, Inc. for approximately $71 million on March 8, 2023. Alexander's anticipates the closing of the sale in the second quarter of 2023 and will recognize a financial statement gain of approximately $54 million. Upon completion of the sale, we will recognize our approximate $16 million share of the net gain.
An unknown buyer completed the acquisition of Alexander?s of Rego Park III, Inc. from Alexander's, Inc. on May 19, 2023.
Alexander's, Inc. is a real estate investment trust (REIT). The Company is engaged in leasing, managing, developing and redeveloping its properties. It is managed by, and its properties are leased and developed by, Vornado Realty Trust (Vornado). It has five properties in New York City consisting of 731 Lexington Avenue, a 1,079,000 square foot multi-use building comprising the entire block bounded by Lexington Avenue, East 59th Street, Third Avenue and East 58th Street in Manhattan; Rego Park I, a 338,000 square foot shopping center, is located on Queens Boulevard and 63rd Road in Queens; Rego Park II, a 616,000 square foot shopping center, is located adjacent to the Rego Park I shopping center in Queens; Flushing, a 167,000 square foot building, located on Roosevelt Avenue and Main Street in Queens, and The Alexander apartment tower, located above its Rego Park II shopping center, contains 312 units aggregating 255,000 square feet.
ALEXANDER'S, INC. 
