2022 Q2 Form 10-Q Financial Statement

#000155837022009007 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $6.359M $7.554M $24.45M
YoY Change 663.39% 1432.25% 9640.24%
Cost Of Revenue $1.182M $622.0K $3.607M
YoY Change -20.14% -66.03% 32.51%
Gross Profit $5.177M $6.932M $20.84M
YoY Change -747.93% -618.09% -943.42%
Gross Profit Margin 81.41% 91.77% 85.25%
Selling, General & Admin $1.503M $1.139M $837.0K
YoY Change 21.7% -8.37% -16.47%
% of Gross Profit 29.03% 16.43% 4.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $696.0K $1.405M $876.0K
YoY Change 71.85% 17.77% 17.43%
% of Gross Profit 13.44% 20.27% 4.2%
Operating Expenses $8.649M $9.195M $24.15M
YoY Change 112.87% 117.02% 465.93%
Operating Profit -$2.290M -$1.641M -$3.313M
YoY Change -29.1% -56.17% -17.53%
Interest Expense -$3.295M -$802.0K -$647.0K
YoY Change 273.16% 33.0% -49.88%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$103.0K -$2.468M -$3.961M
YoY Change -97.91% -64.17% -25.38%
Income Tax $120.0K $70.00K $178.0K
% Of Pretax Income
Net Earnings -$223.0K -$2.538M -$4.139M
YoY Change -95.57% -63.34% -23.3%
Net Earnings / Revenue -3.51% -33.6% -16.93%
Basic Earnings Per Share -$0.01 -$0.07
Diluted Earnings Per Share -$0.01 -$0.07 -$117.4K
COMMON SHARES
Basic Shares Outstanding 36.85M 37.10M 35.31M
Diluted Shares Outstanding 37.19M 37.10M

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.112M $1.381M $4.310M
YoY Change 43.48% -72.57% -33.84%
Cash & Equivalents $3.100M $1.400M $4.310M
Short-Term Investments
Other Short-Term Assets $1.639M $1.659M $673.0K
YoY Change 257.08% 108.94% 48.24%
Inventory
Prepaid Expenses
Receivables $50.00K $60.00K $84.00K
Other Receivables $121.0K $118.0K $114.0K
Total Short-Term Assets $4.922M $3.218M $5.181M
YoY Change 70.9% -53.02% -35.44%
LONG-TERM ASSETS
Property, Plant & Equipment $67.15M $290.5M $291.0M
YoY Change -77.71% -0.09% 3.66%
Goodwill
YoY Change
Intangibles $8.062M $8.247M $8.432M
YoY Change -8.41% -8.23% -8.07%
Long-Term Investments $4.600M $4.700M $4.800M
YoY Change -9.8% -9.62% -15.79%
Other Assets $228.0M $14.23M $20.54M
YoY Change 2890.27% 112.61% 114.94%
Total Long-Term Assets $311.2M $334.9M $341.4M
YoY Change -6.9% 3.37% 7.5%
TOTAL ASSETS
Total Short-Term Assets $4.922M $3.218M $5.181M
Total Long-Term Assets $311.2M $334.9M $341.4M
Total Assets $316.1M $338.1M $346.6M
YoY Change -6.24% 2.2% 6.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.82M $19.88M $17.86M
YoY Change 30.74% 38.34% 12.35%
Accrued Expenses $1.245M $1.347M $1.447M
YoY Change -18.95% -17.16% -15.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $24.07M $21.22M $19.31M
YoY Change 26.72% 32.69% 1025.35%
LONG-TERM LIABILITIES
Long-Term Debt $246.9M $262.5M $270.7M
YoY Change -5.89% 3.24% 11.49%
Other Long-Term Liabilities $215.0K $1.515M $1.146M
YoY Change -93.13% -52.6% 38.07%
Total Long-Term Liabilities $247.1M $264.0M $271.9M
YoY Change -6.92% 2.55% 11.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.07M $21.22M $19.31M
Total Long-Term Liabilities $247.1M $264.0M $271.9M
Total Liabilities $271.2M $285.2M $291.2M
YoY Change -4.67% 4.31% 11.45%
SHAREHOLDERS EQUITY
Retained Earnings -$41.55M -$33.32M -$30.79M
YoY Change 66.27% 66.97% 136.21%
Common Stock $145.0M $144.9M $144.7M
YoY Change 6.07% 6.11% 6.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $57.46M $57.46M $57.17M
YoY Change 0.52% 0.52% 0.66%
Treasury Stock Shares $6.541M $6.551M $6.398M
Shareholders Equity $44.90M $52.88M $55.42M
YoY Change
Total Liabilities & Shareholders Equity $316.1M $338.1M $346.6M
YoY Change -6.24% 2.2% 6.44%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$223.0K -$2.538M -$4.139M
YoY Change -95.57% -63.34% -23.3%
Depreciation, Depletion And Amortization $696.0K $1.405M $876.0K
YoY Change 71.85% 17.77% 17.43%
Cash From Operating Activities $989.0K -$619.0K -$5.880M
YoY Change 136.6% -68.71% 72.59%
INVESTING ACTIVITIES
Capital Expenditures $4.636M -$4.704M -$5.565M
YoY Change -150.2% -61.29% -53.4%
Acquisitions
YoY Change
Other Investing Activities $11.78M $5.634M $20.95M
YoY Change 303.45%
Cash From Investing Activities $16.42M $930.0K $15.38M
YoY Change -277.8% -107.65% -327.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $291.0K
YoY Change -21.35%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.63M -9.543M 2.694M
YoY Change -341.59% -197.49% -66.59%
NET CHANGE
Cash From Operating Activities 989.0K -619.0K -5.880M
Cash From Investing Activities 16.42M 930.0K 15.38M
Cash From Financing Activities -16.63M -9.543M 2.694M
Net Change In Cash 778.0K -9.232M 12.20M
YoY Change -140.25% 112.67% -682.15%
FREE CASH FLOW
Cash From Operating Activities $989.0K -$619.0K -$5.880M
Capital Expenditures $4.636M -$4.704M -$5.565M
Free Cash Flow -$3.647M $4.085M -$315.0K
YoY Change -137.78% -59.85% -103.69%

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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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16069000
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CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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15613000
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CY2021Q1 us-gaap Depreciation Depletion And Amortization
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CY2021Q1 us-gaap Share Based Compensation
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CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
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CY2021Q1 tphs Reduction Of Claims Liability
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CY2021Q1 us-gaap Fair Value Adjustment Of Warrants
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746000
CY2021Q1 us-gaap Income Loss From Equity Method Investments
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CY2022Q1 tphs Distribution Of Cumulative Earnings From Unconsolidated Joint Venture
DistributionOfCumulativeEarningsFromUnconsolidatedJointVenture
168000
CY2021Q1 tphs Distribution Of Cumulative Earnings From Unconsolidated Joint Venture
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194000
CY2022Q1 us-gaap Increase Decrease In Receivables
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CY2021Q1 us-gaap Increase Decrease In Receivables
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CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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371000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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1474000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q1 tphs Proceeds From Loans And Corporate Facility
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2390000
CY2021Q1 tphs Proceeds From Loans And Corporate Facility
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CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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24845000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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16069000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15613000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11728000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11728000
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CY2021Q1 us-gaap Interest Paid Net
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4130000
CY2022Q1 us-gaap Income Taxes Paid
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CY2021Q1 us-gaap Income Taxes Paid
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46000
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9332000
CY2021Q1 tphs Accrued Development Costs Included In Accounts Payable And Accrued Expenses
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7496000
CY2022Q1 tphs Capitalized Amortization Of Deferred Financing Costs And Lease Commissions
CapitalizedAmortizationOfDeferredFinancingCostsAndLeaseCommissions
617000
CY2021Q1 tphs Capitalized Stock Based Compensation Expense
CapitalizedStockBasedCompensationExpense
39000
CY2021Q1 tphs Capitalized Amortization Of Deferred Financing Costs And Lease Commissions
CapitalizedAmortizationOfDeferredFinancingCostsAndLeaseCommissions
760000
CY2022Q1 tphs Capitalized Stock Based Compensation Expense
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46000
CY2022Q1 us-gaap Basis Of Accounting
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Note 1 – Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Overview</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Trinity Place Holdings Inc., which we refer to in these financial statements as “Trinity,” “we,” “our,” or “us,” is a real estate holding, investment, development and asset management company. Our largest asset is currently a property located at 77 Greenwich Street in Lower Manhattan (“77 Greenwich”), which is nearing completion of development as a mixed-use project consisting of a 90-unit residential condominium tower, retail space and a New York City elementary school. We also own a recently built 105-unit, 12-story multi-family property located at 237 11<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">th</sup> Street in Brooklyn, New York (“237 11<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">th</sup>”), and, through joint ventures, a 50% interest in a recently built 95-unit multi-family property known as The Berkley, located at 223 North 8<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">th</sup> Street, Brooklyn, New York (“The Berkley”), see Note 14 – Subsequent Events, and a 10% interest in a recently built 234-unit multi-family property at 250 North 10<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">th</sup> Street (“250 North 10<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">th</sup>”), in Brooklyn, New York, and we own a property occupied by retail tenants in Paramus, New Jersey.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">We also control a variety of intellectual property assets focused on the consumer sector, a legacy of our predecessor, Syms Corp. (“Syms”), including FilenesBasement.com, our rights to the Stanley Blacker® brand, as well as the intellectual property associated with the Running of the Brides® event and An Educated Consumer is Our Best Customer® slogan. In addition, we had approximately $251.9 million of federal net operating loss carryforwards (“NOLs”) at March 31, 2022, which can be used to reduce our future taxable income and capital gains.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">COVID-19 Pandemic, Management’s Plans and Liquidity</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">As a result of the COVID-19 pandemic, numerous federal, state, local and foreign governmental authorities issued a range of “stay-at-home orders”, proclamations and directives aimed at minimizing the spread of COVID-19, among other restrictions on businesses and individuals. Additional proclamations and directives have been issued in response to further outbreaks, and may be issued in the future. The outbreak and restrictions have adversely affected our business operations including, among other things, a temporary suspension of construction work at our most significant asset, 77 Greenwich, which resumed in mid-April 2020, initially on a modified basis as certain work was deemed “essential” construction, and the temporary closing of the sales center for the 77 Greenwich residential condominium units as well as the temporary suspension of the remediation work being performed on 237 11<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">th</sup>, which resumed in early June 2020 and was completed in the fourth quarter of 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The economic downturn and volatility in financial markets appear to have been primarily driven by uncertainties associated with the pandemic. As it relates to our business, these uncertainties include, but are not limited to, the adverse effect of the pandemic on the New York City and broader economy, residential and potential residential sentiment in New York City, particularly Manhattan, lending institutions, construction and material supply partners, travel and transportation services, our employees, residents and tenants, and traffic to and within geographic areas containing our real estate assets. The pandemic has adversely affected our near-term, and may adversely affect our long-term, liquidity, cash flows and revenues and has required and may continue to require significant actions in response, including, but not limited to, reducing or discounting prices for our residential condominium units more than originally budgeted, seeking loan extensions and covenant modifications, modifying, eliminating or deferring rent payments in the short term for tenants in an effort to mitigate financial hardships and seeking access to federal, state and/or local financing and other programs in 2020 and 2021.   We were also subject to a New York State mandate disallowing tenant evictions for non-payment of rent due to COVID-19 related hardships throughout 2021, which was recently lifted on January 15, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The ultimate impact of the COVID-19 pandemic on our operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration and severity of the outbreak, recurring outbreaks, new information which may emerge concerning the pandemic and any additional preventative and protective actions that governments, lending institutions and other businesses, including us, may direct or institute.  These and other developments have resulted in and are expected to result in an extended period of continued business disruption and reduced operations for us as well as for lending and other businesses and governmental entities with which we do business. The ultimate financial impacts cannot be reasonably estimated at this time but the outbreak, restrictions and future developments are anticipated to continue to have an adverse impact on our business, financial condition and results </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">of operations, which has been and may continue to be material, although in recent months we have seen indications of a recovery in the New York City real estate market and improvements in the financing markets.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The measures taken to date, together with any additional measures and developments including those noted above, impacted and will continue to impact the Company’s business in 2022 and beyond, although the extent of the significance of the impact of the COVID-19 outbreak on our business and the duration for which it may have an impact cannot be determined at this time. Although the impact of the pandemic has impeded the sale of residential condominium units at 77 Greenwich, we have closed on 17 residential condominium units as of March 31, 2022. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">As of March 31, 2022, we had total cash and restricted cash of $15.6 million, of which approximately $1.4 million was cash and cash equivalents and approximately $14.2 million was restricted cash. At this time, we believe our existing balances of cash and cash equivalents, together with net proceeds that were generated from the sale of The Berkley, which closed in April 2022, planned refinancing of the Paramus line of credit or sale of the Paramus property and sales of the larger, higher floor condominium units at 77 Greenwich will be sufficient to satisfy our working capital needs and projected capital and other expenditures associated with our operations over the next 12 months, and the Company has concluded that management’s current plan alleviates the substantial doubt about its ability to continue as a going concern. Additionally, we continue to evaluate opportunities to raise capital through sales of equity, including under our ATM program, debt issuances or refinancings, including refinancing the property located at 237 11<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">th</sup> Street, and continue to evaluate dispositions of other properties or other assets and/or sales of partial interests in properties.  Facts and circumstances that are outside of management’s control could change in the future, such as additional government mandates, health official orders, travel restrictions and extended business shutdowns due to COVID-19, and the impact of such matters on residential sentiment in New York City in particular. </p>
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15600000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1400000
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
14200000
CY2022Q1 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt;margin:0pt 0pt 10pt 18pt;">c.   <i style="font-style:italic;">Use of Estimates</i> - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates.</p>
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt;margin:0pt 0pt 10pt 18pt;">e.    <i style="font-style:italic;">Concentrations of Credit Risk</i> - Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. We hold substantially all of our cash and cash equivalents in banks. Such cash balances at times exceed federally insured limits.</p>
CY2021Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.31
CY2022Q1 us-gaap Deferred Offering Costs
DeferredOfferingCosts
2700000
CY2021Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
2900000
CY2022Q1 us-gaap Development In Process
DevelopmentInProcess
222595000
CY2021Q4 us-gaap Development In Process
DevelopmentInProcess
222394000
CY2022Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
51141000
CY2021Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
51141000
CY2022Q1 us-gaap Tenant Improvements
TenantImprovements
221000
CY2021Q4 us-gaap Tenant Improvements
TenantImprovements
200000
CY2022Q1 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
818000
CY2021Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
775000
CY2022Q1 us-gaap Land And Land Improvements
LandAndLandImprovements
28847000
CY2021Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
28847000
CY2022Q1 us-gaap Real Estate Investment Property At Cost
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303622000
CY2021Q4 us-gaap Real Estate Investment Property At Cost
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303357000
CY2022Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
14322000
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
13629000
CY2022Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
289300000
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
289728000
CY2022Q1 us-gaap Depreciation
Depreciation
693000
CY2021Q1 us-gaap Depreciation
Depreciation
693000
CY2022Q1 tphs Percentage Of Property Leased
PercentageOfPropertyLeased
1
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
11100000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
11100000
CY2022Q1 tphs Intangible Assets Accumulated Amortization
IntangibleAssetsAccumulatedAmortization
2900000
CY2021 tphs Intangible Assets Accumulated Amortization
IntangibleAssetsAccumulatedAmortization
2700000
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
185000
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
185000
CY2022Q1 tphs Aggregate Fees Paid By Sca To Company
AggregateFeesPaidByScaToCompany
46100000
CY2022Q1 tphs Remaining Fees To Be Paid By Sca To Company
RemainingFeesToBePaidByScaToCompany
430000
CY2022Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
262471000
CY2022Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
3900000
CY2022Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1659000
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
673000
CY2022Q1 tphs Deferred Finance Costs
DeferredFinanceCosts
2184000
CY2021Q4 tphs Deferred Finance Costs
DeferredFinanceCosts
2184000
CY2022Q1 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
2758000
CY2021Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
2736000
CY2022Q1 tphs Prepaid Expense And Other Assets Gross
PrepaidExpenseAndOtherAssetsGross
6601000
CY2021Q4 tphs Prepaid Expense And Other Assets Gross
PrepaidExpenseAndOtherAssetsGross
5593000
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1594000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1467000
CY2022Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
5007000
CY2021Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
4126000
CY2021Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
3800000
CY2022Q1 tphs Maximum Number Of Board Committees In Which Designee Can Sit
MaximumNumberOfBoardCommitteesInWhichDesigneeCanSit
3
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
10064000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
193393000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
66021000
CY2022Q1 us-gaap Debt Instrument Carrying Amount
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269478000
CY2022Q1 us-gaap Deferred Finance Costs Net
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7007000
CY2022Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
4287000
CY2021Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
4990000
CY2022Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
3485000
CY2021Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4387000
CY2022Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-802000
CY2021Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-603000
CY2021Q4 us-gaap Common Stock Shares Outstanding
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36626549
CY2019Q4 us-gaap Warrants And Rights Outstanding Term
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P10Y
CY2019Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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7179000
CY2020Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.50
CY2021Q1 tphs Unrealized Gain Loss On Warrants
UnrealizedGainLossOnWarrants
-2000000.0
CY2022Q1 tphs Warrant Holder S Right Number Of Board Members To Appoint
WarrantHolderSRightNumberOfBoardMembersToAppoint
1
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.31
CY2019Q4 tphs Warrant Agreement Threshold Minimum Beneficial Ownership Percentage
WarrantAgreementThresholdMinimumBeneficialOwnershipPercentage
0.05
CY2019Q4 tphs Warrant Agreement Threshold Maximum Percentage Of Issued And Outstanding Common Stock After Exercise Of Warrants
WarrantAgreementThresholdMaximumPercentageOfIssuedAndOutstandingCommonStockAfterExerciseOfWarrants
0.199
CY2022Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1500000
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1100000
CY2022Q1 tphs Unrealized Gain Loss On Warrants
UnrealizedGainLossOnWarrants
369000
CY2022Q1 tphs Federal Net Operating Loss Carryforwards Utilized To Date
FederalNetOperatingLossCarryforwardsUtilizedToDate
23800000
CY2022Q1 us-gaap Deferred Tax Assets Valuation Allowance
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67900000
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CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
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CY2022Q1 tphs Deferred Compensation Arrangement With Individual Shares Outstanding
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CY2022Q1 us-gaap Equity Method Investments
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CY2020Q4 us-gaap Stockholders Equity
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CY2020 us-gaap Revenues
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CY2020 tphs Cost Of Property Operating Expenses
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CY2020 us-gaap Real Estate Tax Expense
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CY2020 us-gaap Operating Expenses
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CY2020 tphs Gain Loss On Sale Of School Condominium
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CY2020 us-gaap Operating Income Loss
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CY2020 us-gaap Income Tax Expense Benefit
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1015000
CY2020 us-gaap Comprehensive Income Net Of Tax
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CY2020 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020 us-gaap Stock Issued During Period Value Issued For Services
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CY2020 tphs Deferred Real Estate Deposits
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CY2020 tphs Proceeds From Loans And Corporate Facility
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CY2020 tphs Proceeds From Stock Buy Back
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Interest Paid Net
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CY2020 tphs Capitalized Stock Based Compensation Expense
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CY2020 tphs Noncash Investment In Unconsolidated Joint Venture
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CY2021Q1 us-gaap Assets
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CY2021Q1 us-gaap Liabilities
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CY2021Q1 tphs Excess Stock Par Or Stated Value Per Share
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CY2021Q1 us-gaap Excess Stock Shares Authorized
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CY2021Q1 tphs Capitalized Amortization Of Deferred Financing Costs And Lease Commissions
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CY2021Q1 tphs Capitalized Stock Based Compensation Expense
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243000

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