CEDAR REALTY TRUST, INC. - 10-K filing on 2022-03-10

Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

Cedar Realty Trust, Inc.

Schedule III

Real Estate and Accumulated Depreciation

				Year built/	Gross		Initial cost to the Company
		Year	Percent	Year last	leasable				Building and
Property	State	acquired	owned	renovated	area		Land		Improvements
Academy Plaza	PA	2001	100%	1965/2013		136,685	$	2,406,000	$	9,623,000
Big Y Shopping Center	CT	2013	100%	2007		101,105		11,272,000		23,395,000
Carmans Plaza	NY	2007	100%	1954/2007		182,081		8,539,000		35,804,000
Christina Crossing	DE	2017	100%	2008		119,446		4,341,000		23,227,000
Coliseum Marketplace	VA	2005	100%	1987/2012		106,648		2,924,000		14,416,000
Colonial Commons	PA	2011	100%	2011/2013		410,432		9,367,000		37,496,000
Crossroads II	PA	2008	60%	2009		133,717		15,383,000		-
Elmhurst Square	VA	2006	100%	1961-1983		66,254		1,371,000		5,994,000
Fairview Commons	PA	2007	100%	1976/2003		52,964		858,000		3,568,000
Fieldstone Marketplace	MA	2005/2012	100%	1988/2003		150,123		5,229,000		21,440,000
Fishtown Crossing	PA	2001	100%	1988		131,043		2,942,000		11,769,000
Frankin Village Plaza (a)	MA	2004/2012	100%	1987/2005		305,937		14,270,000		61,915,000
General Booth Plaza	VA	2005	100%	1985		71,639		1,935,000		9,493,000
Girard Plaza	PA	2019	100%	1950's/2010		35,688		4,685,000		4,648,000
Gold Star Plaza	PA	2006	100%	1988		71,720		1,644,000		6,519,000
Golden Triangle	PA	2003	100%	1960/2005		202,790		2,320,000		9,713,000
Groton Shopping Center	CT	2007	100%	1969		130,264		3,070,000		12,320,000
Halifax Plaza	PA	2003	100%	1994		51,510		1,412,000		5,799,000
Hamburg Square	PA	2004	100%	1993/2010		102,058		1,153,000		4,678,000
Jordan Lane	CT	2005	100%	1969/1991		174,679		4,291,000		21,176,000
Kempsville Crossing	VA	2005	100%	1985/2013		79,512		2,207,000		11,000,000
Kings Plaza	MA	2007	100%	1970/1994		168,243		2,413,000		12,604,000
Lawndale Plaza	PA	2015	100%	1998		92,773		3,635,000		21,854,000
Meadows Marketplace	PA	2004/2012	100%	2005		91,518		1,914,000		-
Newport Plaza	PA	2003	100%	1996		64,489		1,721,000		7,758,000
New London Mall	CT	2009	100%	1967/1997		259,566		14,891,000		24,967,000
Northside Commons	PA	2008	100%	2009		69,136		3,332,000		-
Norwood Shopping Center	MA	2006	100%	1965/2013		42,308		1,874,000		8,453,000
Oak Ridge Shopping Center	VA	2006	100%	2000		38,700		960,000		4,254,000
Oakland Commons	CT	2007	100%	1962/2013		90,100		2,504,000		15,662,000
Oakland Mills	MD	2005	100%	1960's/2004		57,008		1,611,000		6,292,000
Palmyra Shopping Center	PA	2005	100%	1960/2012		111,051		1,488,000		6,566,000
Pine Grove Plaza	NJ	2003	100%	2001/2002		79,306		2,010,000		6,489,000
Quartermaster Plaza	PA	2014	100%	2004		456,154		37,031,000		54,210,000
San Souci Plaza	MD	2009	100%	1985-1997		264,134		14,849,000		18,445,000
Shoppes at Arts District	DC	2016	100%	2011		35,676		2,247,000		18,616,000
South Philadelphia	PA	2003	100%	1950/2003		191,340		8,222,000		36,314,000
Southington Center	CT	2003	100%	1972/2000		155,842		-		11,834,000
Swede Square	PA	2003	100%	1980/2012		100,809		2,268,000		6,232,000
The Brickyard	CT	2004	100%	1990/2012		227,598		7,632,000		29,308,000
The Point	PA	2000	100%	1972/2012		260,625		2,700,000		10,800,000
The Shops at Bloomfield Station	NJ	2016	100%	2015		63,844		625,000		17,674,000
The Shops at Suffolk Downs	MA	2005	100%	2005/2011		121,187		7,580,000		11,089,000
Timpany Plaza	MA	2007	100%	1970's-1989		182,799		3,412,000		19,240,000
Trexler Mall	PA	2005	100%	1973/2013		336,687		6,932,000		32,815,000
Trexlertown Plaza	PA	2006	100%	1990/2011		325,171		13,349,000		23,867,000
Valley Plaza	MD	2003	100%	1975/1994		190,939		1,950,000		7,766,000
Washington Centers Shoppes	NJ	2001	100%	1979/1995		157,300		2,061,000		7,314,000
Webster Plaza	MA	2007	100%	1960's-2004		98,984		3,551,000		18,412,000
Yorktowne Plaza	MD	2007	100%	1970/2000		136,197		5,940,000		25,505,000
Other	n/a	n/a	100%	n/a		-		1,965,000		-
Total Portfolio						7,285,779	$	262,286,000	$	798,333,000

Cedar Realty Trust, Inc.

Schedule III

Real Estate and Accumulated Depreciation

				Gross amount at which carried at
(continued)	Subsequent			December 31, 2021
	cost					Building and				Accumulated
Property	capitalized (b)			Land		improvements		Total		depreciation
Academy Plaza	$	6,322,000		$	2,406,000	$	15,945,000	$	18,351,000	$	7,175,000
Big Y Shopping Center		(838,000	)		10,268,000		23,561,000		33,829,000		6,266,000
Carmans Plaza		13,051,000			8,421,000		48,973,000		57,394,000		19,451,000
Christina Crossing		1,716,000			4,341,000		24,943,000		29,284,000		4,558,000
Coliseum Marketplace		(3,050,000	)		3,586,000		10,704,000		14,290,000		8,916,000
Colonial Commons		8,026,000			9,367,000		45,522,000		54,889,000		17,944,000
Crossroads II		29,794,000			17,671,000		27,506,000		45,177,000		8,909,000
Elmhurst Square		1,299,000			1,371,000		7,293,000		8,664,000		2,922,000
Fairview Commons		461,000			858,000		4,029,000		4,887,000		1,637,000
Fieldstone Marketplace		(3,367,000	)		5,167,000		18,135,000		23,302,000		11,607,000
Fishtown Crossing		13,892,000			2,843,000		25,760,000		28,603,000		5,919,000
Frankin Village Plaza (a)		6,998,000			14,681,000		68,502,000		83,183,000		21,479,000
General Booth Plaza		(109,000	)		1,935,000		9,384,000		11,319,000		3,819,000
Girard Plaza		(2,989,000	)		4,685,000		1,659,000		6,344,000		649,000
Gold Star Plaza		802,000			1,644,000		7,321,000		8,965,000		3,596,000
Golden Triangle		12,672,000			2,320,000		22,385,000		24,705,000		10,926,000
Groton Shopping Center		8,567,000			3,113,000		20,844,000		23,957,000		7,142,000
Halifax Plaza		562,000			1,347,000		6,426,000		7,773,000		3,216,000
Hamburg Square		6,332,000			1,153,000		11,010,000		12,163,000		4,560,000
Jordan Lane		1,537,000			4,291,000		22,713,000		27,004,000		9,346,000
Kempsville Crossing		(2,837,000	)		2,038,000		8,332,000		10,370,000		3,664,000
Kings Plaza		1,933,000			2,408,000		14,542,000		16,950,000		4,971,000
Lawndale Plaza		1,092,000			3,635,000		22,946,000		26,581,000		5,442,000
Meadows Marketplace		11,978,000			1,914,000		11,978,000		13,892,000		4,651,000
Newport Plaza		587,000			1,682,000		8,384,000		10,066,000		4,183,000
New London Mall		5,022,000			8,807,000		36,073,000		44,880,000		16,240,000
Northside Commons		9,390,000			3,379,000		9,343,000		12,722,000		3,124,000
Norwood Shopping Center		5,128,000			1,874,000		13,581,000		15,455,000		4,754,000
Oak Ridge Shopping Center		478,000			960,000		4,732,000		5,692,000		2,016,000
Oakland Commons		(3,466,000	)		2,504,000		12,196,000		14,700,000		6,273,000
Oakland Mills		1,145,000			1,530,000		7,518,000		9,048,000		3,311,000
Palmyra Shopping Center		2,156,000			1,488,000		8,722,000		10,210,000		4,008,000
Pine Grove Plaza		612,000			1,622,000		7,489,000		9,111,000		3,618,000
Quartermaster Plaza		3,721,000			37,031,000		57,931,000		94,962,000		14,798,000
San Souci Plaza		5,195,000			13,211,000		25,278,000		38,489,000		13,905,000
Shoppes at Arts District		91,000			2,247,000		18,707,000		20,954,000		3,924,000
South Philadelphia		(3,839,000	)		10,363,000		30,334,000		40,697,000		24,206,000
Southington Center		1,456,000			-		13,290,000		13,290,000		5,822,000
Swede Square		8,739,000			2,272,000		14,967,000		17,239,000		6,787,000
The Brickyard		576,000			7,648,000		29,868,000		37,516,000		13,955,000
The Point		20,418,000			2,996,000		30,922,000		33,918,000		14,490,000
The Shops at Bloomfield Station		(3,820,000	)		625,000		13,854,000		14,479,000		3,756,000
The Shops at Suffolk Downs		10,633,000			7,580,000		21,722,000		29,302,000		8,599,000
Timpany Plaza		(4,879,000	)		3,368,000		14,405,000		17,773,000		7,651,000
Trexler Mall		13,874,000			6,932,000		46,689,000		53,621,000		18,349,000
Trexlertown Plaza		31,090,000			15,674,000		52,632,000		68,306,000		16,527,000
Valley Plaza		5,370,000			1,950,000		13,136,000		15,086,000		4,689,000
Washington Centers Shoppes		7,159,000			2,000,000		14,534,000		16,534,000		6,767,000
Webster Plaza		(1,656,000	)		4,082,000		16,225,000		20,307,000		8,001,000
Yorktowne Plaza		(2,562,000	)		5,801,000		23,082,000		28,883,000		10,734,000
Other		1,443,000			879,000		2,529,000		3,408,000		490,000
Total Portfolio	$	227,905,000		$	259,968,000	$	1,028,556,000	$	1,288,524,000	$	409,742,000

Cedar Realty Trust, Inc.

Schedule III

Real Estate and Accumulated Depreciation

The changes in real estate and accumulated depreciation for the years ended December 31, 2021, 2020 and 2019, respectively, are as follows:

Cost	2021			2020				2019
Balance, beginning of the year	$	1,527,478,000		$	1,515,206,000			$	1,508,682,000
Properties transferred to held for sale		(184,639,000	)		(22,512,000	)			(36,265,000	)
Property acquisitions		—			—				9,333,000
Outparcel dispositions		(387,000	)		(840,000	)			—
Property impairments		(83,224,000	)		—				—
Improvements and betterments		29,296,000			35,624,000				37,089,000
Asset write-offs		—			—				(3,633,000	)
Balance, end of the year	$	1,288,524,000		$	1,527,478,000		(c)	$	1,515,206,000

Accumulated depreciation
Balance, beginning of the year	$	428,569,000		$	389,861,000			$	361,969,000
Properties transferred to held for sale		(55,165,000	)		(3,947,000	)			(10,143,000	)
Outparcel dispositions		—			(90,000	)			—
Depreciation expense (d)		36,338,000			42,745,000				41,142,000
Asset write-offs		—			—				(3,107,000	)
Balance, end of the year	$	409,742,000		$	428,569,000			$	389,861,000

Net book value	$	878,782,000		$	1,098,909,000			$	1,125,345,000

(a)

Amount of encumbrance totals $164.2 million at December 31, 2021.

(b)

Negative amounts represent write-offs of fully depreciated assets and impairments.

(c)

At December 31, 2021, the aggregate cost for federal income tax purposes was approximately $34.5 million greater than the Company's recorded values.

(d)

Depreciation is provided over the estimated useful lives of the buildings and improvements, which range from 3 to 40 years.