ALEXANDERS INC 8-K

What Happened
Alexander's, Inc. (through wholly‑owned subsidiary Alexander’s Rego Shopping Center LLC) announced on March 6, 2026 that it entered into an Agreement of Purchase and Sale to sell its Rego Park I shopping center in Queens to Northwell Health, Inc. The agreed purchase price is $235.5 million in cash payable at closing, and the company expects to receive approximately $202 million in net proceeds. The property is a vacant three‑story, 338,000 gross leasable square foot structure (built 1959) with a 1,236‑space parking garage on 5.9 acres. The sale is subject to customary closing conditions and is expected to close by the third quarter of 2026. The company issued a press release on March 9, 2026 announcing the transaction.

Key Details

• Buyer: Northwell Health, Inc.; Agreement entered March 6, 2026.
• Purchase price: $235.5 million in cash; expected net proceeds to Alexander’s ≈ $202 million.
• Property: Rego Park I — vacant, three‑story building, 338,000 GLA, 1,236 parking spaces, on 5.9 acres in Queens, NY.
• Timing & terms: Subject to customary closing conditions; targeted closing by Q3 2026; Agreement includes standard reps, warranties, covenants and indemnification provisions.

Why It Matters
This is a material asset sale that will reduce Alexander’s ownership of the Rego Park I property and provide a sizable cash infusion—about $202 million net—once the transaction closes. The filing does not specify how the company will use the proceeds. Investors should note the timing (expected closing by Q3 2026) and that the property is vacant, which may affect ongoing operating results and asset composition until the sale is completed.