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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission file number 1-6064
Date of Report (Date of earliest event reported) January 4, 1995
ALEXANDER'S, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 51-01-00517
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
31 WEST 34TH STREET, NEW YORK, NEW YORK 10001
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(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code) (212) 760-9500
NOT APPLICABLE
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(Former name, former address and former fiscal year, if changed since last
report)
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ITEM 5. OTHER EVENTS
Alexander's, Inc. (the "Company") is a limited partner, a wholly owned
subsidiary of the Company (the "General Partner") is both a limited partner and
the sole general partner and unrelated limited partners (the "731 Limited
Partners") own a 17.83% limited partnership interest in Seven Thirty One
Limited Partnership, a New York limited partnership (the "Partnership") which
owns real estate located at Lexington Avenue and 59th Street in Manhattan, New
York (the "Lexington Avenue Property"). The partnership agreement for the
Partnership was recently amended to incorporate certain provisions of the
Company's plan of reorganization (the "Plan") giving the 731 Limited Partners
the right to require the Partnership to redeem their entire partnership
interest in two separate stages for an aggregate price of $36,812,331.29. On
January 4, 1995, the 731 Limited Partners delivered notice to the Partnership
requiring the redemption of the first portion of their partnership interests.
Following the redemption, the Company and the General Partner will own an
aggregate of 92.36%, and the 731 Limited Partners will own 7.64%, of the
partnership interests.
The consideration for the first redemption by the Partnership will be a
promissory note of the Partnership which will mature on August 21, 1998
in the principal amount of $21,812,331.29 (the "Note"). The Note bears interest
at the rate of 1% percent per annum in excess of the rate from time to time
announced by Chemical Bank, N.A., as its prime or base rate. Interest is
payable beginning on April 4, 1995 and thereafter quarterly on the fourth day
of July, October, January and April until maturity. The Note is secured by a
second mortgage on the Lexington Avenue Property. The Note is guaranteed by
the Company and the General Partner.
The amendment to the partnership agreement referred to above also entitles
the 731 Limited Partners to a cumulative first priority distribution from the
cash flow of the Partnership in the amount of $430,000 annually from October 4,
1993 until the entire limited partnership interest of the 731 Limited Partners
has been redeemed. This payment is guaranteed by the Company and the General
Partner until October 3, 1998. The Company shall also pay to the 731 Limited
Partners the amount of $400,000, together with interest thereon from December
30, 1994 at the rate of 14% per annum, simultaneously with the payments to
substantially all unsecured creditors under the Plan, but in all events by June
30, 1995.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date: January 4, 1995 ALEXANDER'S, INC.
/s/ Steven Santora
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Title: Vice President and
Controller
