Core Viewpoint - Alexander's, Inc. has announced the sale of its Rego Park I property to Northwell Health, Inc. for a gross purchase price of $235.5 million, with net proceeds expected to be $202 million [1][3]. Group 1: Property Details - The Rego Park I property is located at the intersection of Queens Boulevard and Junction Boulevard in Queens, New York, and consists of a vacant three-story structure with 338,000 gross leasable square feet and a 1,236-space parking garage on 5.9 acres [2]. - The property was built in 1959 and has recently been vacated as tenants were relocated to the adjacent Rego Park II shopping center [2]. Group 2: Financial Implications - The financial statement gain from the sale is projected to be approximately $147 million, while the tax gain is estimated at around $145 million, with $48 million recognized in 2025 and approximately $97 million expected to be recognized in 2026 [3]. - The sale is subject to customary closing conditions and is anticipated to close by the third quarter of 2026 [3]. Group 3: Company Overview - Alexander's, Inc. operates as a real estate investment trust (REIT) and currently holds five properties in New York City [3].