Alexander's

What Alexander's does

Alexander's, Inc. (NYSE: ALX) is a publicly traded real estate investment trust engaged in leasing, managing, developing, and redeveloping properties in the greater New York City metropolitan area. Founded in 1959 and headquartered in Paramus, NJ, the company operates with 51-100 employees under external management by Vornado Realty Trust (NYSE: VNO), which conducts all property management, leasing, development, and financing activities on Alexander's behalf. Following the May 2026 sale of Rego Park I to Northwell Health for $235.5 million, the company holds four properties: 731 Lexington Avenue (a Class A Manhattan office and retail property housing Bloomberg L.P.'s world headquarters under a lease running through 2040); the Rego Park II Shopping Center in Queens (a 600,000-square-foot multi-level retail center 99% leased to anchors including Target, Costco, Burlington, Best Buy, Marshalls, T.J. Maxx, Aldi, and Petco); The Alexander apartment tower at the Rego Center complex; and a retail property in Flushing, NY.

Revenue is generated through three primary streams: recurring rental income from commercial office leasing (dominated by Bloomberg's ~1 million square feet at 731 Lexington Avenue); recurring rental income from retail leasing at Rego Park II (with a 9.3-year weighted average lease term); and one-time gains from strategic property sales, such as the Rego Park I divestiture that generated approximately $148 million in financial statement gain. FY2025 revenue totaled $213.2 million against a $1.44 billion equity valuation and ~$2.08 billion enterprise value. The company has paid uninterrupted quarterly dividends of $4.50 per share ($18.00 annualized) for 17+ consecutive years, positioning Alexander's as a yield-oriented vehicle for income-focused investors. Capital allocation in 2024-2026 has emphasized refinancing and asset rotation (Rego Park II, 731 Lexington office, 731 Lexington retail, and the Rego Park I sale) rather than portfolio expansion, signaling a steady-state, capital-return-focused strategy.

Name

Alexander's

Legal name

Alexander's, Inc.

Website

https://alx-inc.com

Company type

Public

Founded year

1959

Operating status

Operating

Headcount range

51–100 employees

Short description

Alexander's, Inc. is a publicly traded REIT that owns and leases four prime New York City-area properties, anchored by Bloomberg L.P.'s world headquarters at 731 Lexington Avenue through 2040 and the 99%-leased Rego Park II Shopping Center in Queens, managed externally by Vornado Realty Trust.

Ownership category

akta.pro rank

Product category

Commercial Real Estate (REIT)

NAICS

Real Estate Property Managers (53131)

SIC

Real Estate Investment Trusts (6798)

akta.pro industry

PRIMARYFSAAAKAD

REITs & Listed Real Estate Securities

Financial & Insurance/Asset & Wealth Management/Asset Management — Real Assets (Real Estate, Infrastructure, Natural Resources)

SECONDARYBPAJANAA

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation)

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Advisory & Consulting (Investment, Strategy)

SECONDARYBPAJACAC

Flex / R&D Industrial Space Brokerage

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Industrial Real Estate Brokerage

Keywords

• Commercial real estate
• Real estate investment trust
• Office leasing
• Retail property leasing
• Property development

Headquarters

HQ city

Paramus

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Others

Revenue model

1. Commercial Office Leasing: Revenue from leasing office space at 731 Lexington Avenue in Manhattan, including Bloomberg L.P.'s world headquarters occupying nearly one million square feet through 2040.
2. Retail Property Leasing: Revenue from retail properties including Rego Park Shopping Center (600,000 sq ft) anchored by Costco, Burlington, Best Buy, Marshalls, T.J. Maxx, Aldi, Petco and Target, with 99% occupancy and weighted average lease term of approximately 9.3 years.
3. Property Sales: One-time gains from strategic property sales, including sale of Rego Park I to Northwell Health for $235.5 million gross sales price, generating approximately $148 million financial statement gain.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Alexander's, Inc. is a publicly traded real estate investment trust (REIT) engaged in leasing, managing, developing, and redeveloping properties in the greater New York City metropolitan area. The portfolio consists of four properties: 731 Lexington Avenue (office and retail including Bloomberg L.P.'s world headquarters), Rego Park II Shopping Center in Queens (a 600,000 sq. ft. multi-level retail center), The Alexander apartment tower in Rego Park, and a retail property in Flushing, NY. All activities are conducted through its external manager, Vornado Realty Trust.

Product overview

Alexander's, Inc. is a real estate investment trust (REIT) engaged in leasing, managing, developing, and redeveloping commercial and residential properties in the greater New York City metropolitan area. The company operates as a single unified REIT with no distinct software products or technology offerings. Its portfolio consists of four remaining properties following the sale of Rego Park I: (1) 731 Lexington Avenue office and retail in Manhattan, home to Bloomberg LP's world headquarters; (2) Rego Park II shopping center in Queens, a fully leased 600,000 square foot retail center anchored by Target, Costco, and other major retailers; (3) The Alexander apartment tower in Queens; and (4) a retail property in Flushing, NY. All properties are managed by Vornado Realty Trust.

Differentiator

Problem solved

Functional benefit

Products and services

• 731 Lexington Avenue
• Rego Park II Shopping Center
• The Alexander (Apartment Tower)
• Flushing Retail Property

Quantifiable outcome

• 99% occupancy rate achieved at Rego Park Shopping Center
• +3 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered key account, significant and core.

• Target Corporationkey accountChannel Partner/ Reseller/ Distributor · 29 June 2026Target signed a 15-year lease (with renewal options) for 135,000 square feet at Rego Park Shopping Center, bringing the center to 99% leased with weighted average lease term of approximately 9.3 years.
• Northwell Health, Inc.significantOthers · 28 May 2026Northwell Health acquired Alexander's Rego Park I property for a gross sales price of $235.5 million, with net proceeds of $203 million to Alexander's. The transaction closed in Q2 2026 and generated approximately $148 million financial statement gain and $145 million tax gain for Alexander's.
• Bloomberg L.P.coreChannel Partner/ Reseller/ Distributor · 31 March 2026Bloomberg L.P. is the anchor tenant at 731 Lexington Avenue, occupying nearly one million square feet as world headquarters through 2040. Lease amendment granted $56.8 million rent abatement for April-December 2026 period in exchange for reduced tenant improvement fund.
• Vornado Realty TrustcoreStrategic or Co-development PartnerAlexander's activities are conducted through its manager, Vornado Realty Trust (NYSE: VNO). Vornado manages all of Alexander's operations including property management, leasing, development, and financing activities. Vornado hosts quarterly earnings conference calls where Alexander's financials are discussed.

Scale indicators10 records

Recent moves8 records

Expansion highlights3 records

Broad incumbents

• Equity Residential: Equity Residential (NYSE: EQR) is a large multifamily REIT with NYC and other gateway-city apartment exposure. Comparable to Alexander's The Alexander apartment tower within the Rego Park complex.
• AvalonBay Communities: AvalonBay (NYSE: AVB) is a national Class A multifamily REIT with NYC/NJ operations. Comparable to the residential portion of Alexander's portfolio but at materially larger scale and broader geography.
• Macerich: Macerich (NYSE: MAC) is a major retail REIT operating high-quality regional malls and shopping centers. Comparable by retail asset class but different trade area and tenant mix.
• Brookfield Property Partners: Brookfield Property Partners owns and operates one of the world's largest real estate portfolios, including significant Manhattan office and retail exposure. Comparable at the asset and submarket level, though far larger and more diversified.
• Kimco Realty: Kimco (NYSE: KIM) is a large, diversified grocery-anchored shopping center REIT. Comparable in retail real estate fundamentals but with a far broader national footprint than Alexander's NYC-focused retail.

Direct peers

• Paramount Group: Paramount Group (NYSE: PGRE) is a NYC-focused Class A office REIT with major holdings in Manhattan, similar to Alexander's office concentration at 731 Lexington Avenue. Closely comparable by asset type and geography.
• Vornado Realty Trust: Vornado (NYSE: VNO) is Alexander's external manager and majority operating partner, with a highly overlapping NYC office and retail portfolio including 731 Lexington Avenue street-level retail and other Manhattan assets. As the managing entity, Vornado is the most directly comparable peer for business model and asset mix.
• SL Green Realty: SL Green (NYSE: SLG) is the largest Manhattan office landlord, with a portfolio concentrated in midtown and downtown Class A office. Highly comparable to Alexander's in asset type, submarket focus, and tenant profile.
• Empire State Realty Trust: Empire State Realty Trust (NYSE: ESRT) owns and operates a Manhattan and greater NYC office and retail portfolio, including the Empire State Building. Comparable in asset class, submarket, and externally-advised REIT structure.
• Brixmor Property Group: Brixmor (NYSE: BRX) is a national open-air shopping center REIT. Comparable to Alexander's Rego Park II retail asset in asset type, with major anchor tenants and long lease terms.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alexander's