Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 59

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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 property, a commercial building, was held for rental. The tenant signed a five-year lease that commenced on August 1, 2021.As of June 30, 2025, future minimum rents under this lease were as follows:Years Ending December 31,Amount(in thousands)2025 (remaining six months)$27 202631 Total$58 

7.   Property and Equipment, net

The following tables represent the Company’s property and equipment, net as of June 30, 2025 and December 31, 2024:June 30, 2025CostAccumulated DepreciationProperty and Equipment, Net(in thousands)Building$2,594 $(175)$2,419 Land255 — 255 Furniture and fixtures308 (151)157 Computer hardware and software300 (260)40 Vehicles435 (180)255 Total property and equipment, net$3,892 $(766)$3,126 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 SIX MONTHS ENDED JUNE 30, 2025

8.   Other Assets

As of June 30, 2025 and December 31, 2024, other assets consisted of the following:June 30, 2025December 31, 2024(in thousands)Prepaid expenses$524 $575 Other receivables1,935 1,793 Other assets412 190 Notes receivable2,130 2,130 Deferred financing costs, net145 — Straight line rent receivable459 — Deferred leasing costs, net374 387 Acquired in-place lease intangible, net549 568 Goodwill391 391 Intangible asset – trade name130 130 Total$7,049 $6,164 The estimated annual amortization of acquired in-place lease intangible