ALX · Alexander's, Inc.

On March 31, 2026, Alexander's, Inc. subsidiary 731 Office One LLC entered into two material agreements: a lease amendment with long-term tenant Bloomberg L.P. and a corresponding amendment to its September 2024 $400 million loan agreement. The lease amendment provides Bloomberg with $56.8 million in rent abatement over the April to December 2026 period, offset by an equal reduction in Bloomberg's tenant improvement fund, with all other core lease terms including the 2040 expiration remaining intact. The associated loan amendment establishes a dedicated $56.8 million free rent reserve account funded primarily by existing lender reserve funds, which will be used to cover monthly debt service payments during the abatement period, with any excess funds disbursed to the company monthly. The amendments eliminate the prior Bloomberg Lease Sweep Period and related trigger requirements, with the lender formally approving the lease amendment. The company incurred a $100,000 processing fee plus all lender out-of-pocket expenses in connection with the loan amendment.