Real Estate |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Real Estate [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Real Estate | Real Estate Investment in real estate represents directly owned property held for investment, as follows:
As of June 30, 2026, properties in operation included a long-term ground lease in Washington, D.C., an office complex in New York City and the completed portion of a mixed-use project in Washington, D.C. Properties in operation are net of accumulated depreciation and amortization of $44,076,000 and $41,942,000 as of June 30, 2026 and December 31, 2025, respectively. Related depreciation expense was $5,209,000 and $4,547,000 for the six months ended June 30, 2026 and 2025, respectively. Future minimum rental income expected on operating leases relating to properties in operation is $19,372,866 in 2026, $41,767,693 in 2027, $46,319,865 in 2028, $43,005,070 in 2029, $37,335,458 in 2030, $32,740,711 in 2031 and $385,200,556 thereafter. A mixed-use project in Washington, D.C. had been under development in 2026 and 2025. The completed portion of the project is reported in properties in operation.
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