Alexander’s, Inc. Announces Sale of Rego Park I Property for \$235.5 Million to Northwell Health

Deal Expected to Generate Significant Financial Gains and Influence Future Outlook

Paramus, New Jersey – March 9, 2026: Alexander’s, Inc. (NYSE: ALX), a prominent real estate investment trust (REIT) focused on the New York City market, has announced a major asset sale that could have significant implications for shareholders and the company’s future direction.

Key Points for Investors

• Sale Agreement: Alexander’s has entered into a definitive agreement to sell its Rego Park I property to Northwell Health, Inc., a leading healthcare provider, for a gross purchase price of \$235.5 million.
• Net Proceeds: The transaction is expected to yield net cash proceeds of \$202 million for Alexander’s, providing substantial additional liquidity for the company.
• Property Details: The Rego Park I asset is a vacant, three-story structure comprising 338,000 gross leasable square feet, originally built in 1959, and includes a 1,236-space parking garage. The site occupies 5.9 acres at a prime location at the intersection of Queens Boulevard and Junction Boulevard, adjacent to the Long Island Expressway in Queens, New York.
• Recent Developments: Alexander’s recently vacated the property by relocating tenants to its adjacent Rego Park II shopping center, making the asset unencumbered and ready for sale.
• Financial Impact: The company anticipates recognizing a financial statement gain of approximately \$147 million and a tax gain of approximately \$145 million from the sale. Of the tax gain, \$48 million was recognized in 2025, while the remaining \$97 million is expected to be recognized in 2026.
• Closing Timeline: The sale is subject to customary closing conditions and is expected to close by the third quarter of 2026.

Important Information for Shareholders

• Potential Share Price Impact: The sale of a major property for a considerable gain is a potentially price-sensitive event that could positively affect Alexander’s share value. The transaction will strengthen the company’s cash position and could provide flexibility for future investments, debt reduction, or distributions to shareholders.
• Forward-Looking Statements & Risks: The company has cautioned that the transaction is subject to typical closing conditions, and there is no guarantee the sale will be completed as planned. Factors such as changes in economic conditions, real estate markets, or unforeseen developments could impact the deal’s completion and the anticipated use of proceeds.
• Financial Reporting: The gain from the transaction will materially impact reported earnings for 2025 and 2026, which investors should factor into their expectations for upcoming financial results.
• Concentration Risk: Following the sale, Alexander’s will own five properties in New York City. Investors should consider how the reduction in property count might affect the company’s revenue diversification and future growth prospects.
• Regulatory & Market Risks: The company refers investors to its discussion of risk factors in its latest Form 10-K, noting that various external and internal risks could affect the completion and outcome of the transaction.

Contact Information

For further information, shareholders and analysts may contact:
Gary Hansen at (201) 587-8541

Disclaimer

This article contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially from those anticipated. Investors should refer to Alexander’s, Inc. filings with the Securities and Exchange Commission, including the most recent Form 10-K, for a detailed discussion of risk factors. The company undertakes no obligation to update forward-looking statements except as required by law. This article is for informational purposes only and does not constitute investment advice.

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