 PARAMUS, N.J., May 13, 2021 GLOBE NEWSWIRE -- ALEXANDERS, INC. New York Stock Exchange: ALX announced today that it received notice from IKEA Property, Inc. of its election to exercise its purchase option of the Paramus, New Jersey property. The Company anticipates closing the sale in the fourth quarter of 2021. The purchase price is 75 million and after repayment of the 68 million mortgage, the Company expects to receive net cash proceeds of approximately 6 million after costs. The financial statement gain will be approximately 60 million and the tax gain will be approximately 63 million. The Company does not expect to pay a special dividend related to this transaction. 