On March 31, 2026, Alexanders Inc., through its wholly-owned subsidiary 731 Office One LLC, executed the Tenth Amendment of Lease with Bloomberg L.P. This amendment significantly alters the financial terms of Bloomberg's lease at the 731 Lexington Avenue property. Notably, the amendment includes a rent abatement totaling $56,808,900 for the period from April 1, 2026, to December 1, 2026. Additionally, the existing tenant fund available for improvements has been reduced from $113,617,800 to $56,808,900. Despite these changes, the core terms of the lease remain intact, with the lease expiration still set for February 8, 2040. This amendment is expected to impact the company's liquidity position, as it will provide immediate financial relief to Bloomberg while also adjusting the financial commitments of Alexanders Inc. The company has also established a free rent reserve account with the lender, which will be utilized to cover Bloomberg's monthly base rent during the abatement period. This strategic move reflects Alexanders Inc.'s ongoing efforts to manage its financial obligations while maintaining a long-term relationship with a key tenant.

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