Trinity Place Holdings Inc
For the period ended Dec 31, 2023. Filed Mar 29, 2024.
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FY2023 · Filed Mar 29, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Schedule III – Consolidated Real Estate and Accumulated Depreciation
(dollars in thousands)
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · Initial Cost · · · · · · · · Amounts at which Carried at December 31, 2023 | |||||||||||||||||||||||||||||||||||
| · · · · · · · · · · · Building, · · Cost · · Building, · · · · · · · · Building, · · · · · · · · | |||||||||||||||||||||||||||||||||||
| · · · · · · · · · · · Building and · · Capitalized · · Building and · · · · · · · · Building and · · · · · · · · Date of | |||||||||||||||||||||||||||||||||||
| · · · · · Land and · · Real Estate · · Tenant · · Subsequent · · Tenant · · · · · Real Estate · · Tenant · · · · · · · · Acquisition | |||||||||||||||||||||||||||||||||||
| Property · · · · · Land · · Under · · Improvements · · to · · Improvements · · · · · Under · · Improvements · · · · · Accumulated · · (A) / Construction | |||||||||||||||||||||||||||||||||||
| Description | Encumbrances | Improvements | Development | (1) | Acquisition | (1) | Land | Development | (1) | Total | Depreciation | (C) | |||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Brooklyn, New York | | 60,000 | | 27,939 | | — | | 42,177 | | — | | | 420 | | 27,939 | | — | | 42,597 | | 70,536 | | 9,120 | 2018 (A) / 2017(C) | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Paramus, NJ | | 11,750 | | 908 | | — | | 3,647 | | — | | | 6,136 | | 908 | | — | | 9,783 | | 10,691 | | 9,783 | 1980 (A) / 1984(C) | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | $71,750 | | $28,847 | | $— | | $45,824 | | $— | | $6,556 | | $28,847 | | $— | | $52,380 | | $81,227 | | $18,903 | | | |||||||||||
| (1) | Depreciation on buildings and improvements reflected in the consolidated statements of operations and comprehensive loss is calculated on the straight-line basis over estimated useful lives of 10 to 39 years. |
(a) Reconciliation of Total Real Estate Properties:
The following table reconciles the activity for the real estate properties for the periods reported (dollars in thousands):
| · · · · · · | ||||
|---|---|---|---|---|
| | Year Ended | Year Ended | ||
| | | December 31, | | December 31, |
| | | 2023 | | 2022 |
| · · · · · · | ||||
| Balance at beginning of period | | $81,056 | | $80,963 |
| Additions | | 171 | | 93 |
| Balance at end of period | | $81,227 | | $81,056 |
The aggregate cost of land, building and improvements, before depreciation, for federal income tax purposes at December 31, 2023 and 2022 was $81.0 million (unaudited) and $81.0 million (unaudited), respectively.
(b) Reconciliation of Accumulated Depreciation:
The following table reconciles the accumulated depreciation for the periods reported (dollars in thousands):
| · · · · · · | |||||
|---|---|---|---|---|---|
| · Year Ended · Year Ended | |||||
| · · December 31, · · December 31, | |||||
| · · 2023 · · 2022 | |||||
| · · · · · · | |||||
| Balance at beginning of period | | $16,405 | | $13,629 | |
| Depreciation related to real estate | | | 2,498 | | 2,776 |
| Balance at end of period | | $18,903 | | $16,405 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.