Company: SACH
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001682220-25-000070
Chunk: 60

Company: Sachem Capital Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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, 2024, the Company sold eleven property held for sale and recognized a gain on sale of $0.3 million. There were no properties 

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Table of ContentsSACHEM CAPITAL CORP.NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTSFOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025

transferred from held for sale to investments in developmental real estate during the three and nine months ended September 30, 2024. Such sales are included in gain on sale of real estate owned and property and equipment, net on the Company’s Condensed Consolidated Statements of Operations.Properties Held for RentalAs of September 30, 2025 and December 31, 2024, one property, a commercial building, was held for rental. The tenant signed a 5-year lease that commenced on August 1, 2021.As of September 30, 2025, future minimum rents under this lease were as follows:Years Ending December 31,Amount(in thousands)2025 (remaining three months)$18 202631 Total$49 

7.   Property and Equipment, net

The following tables represent the Company’s property and equipment, net as of September 30, 2025 and December 31, 2024:September 30, 2025CostAccumulated DepreciationProperty and Equipment, Net(in thousands)Building$2,594 $(222)$2,372 Land255 — 255 Furniture and fixtures308 (168)140 Computer hardware and software312 (268)44 Vehicles435 (193)242 Total property and equipment, net$3,904 $(851)$3,053 December 31, 2024CostAccumulated DepreciationProperty and Equipment, Net(in thousands)Building$2,557 $(110)$2,447 Land255 — 255 Furniture and fixtures308 (117)191 Computer hardware and software295 (246)49 Vehicles435 (155)280 Total property and equipment, net$3,850 $(628)$3,222 

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Table of ContentsSACHEM CAPITAL CORP.NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTSFOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025

8.