Net income attributable to common shareholders for the third quarter was $91.9 million, with earnings per share of $6.90. These results included a non-cash adjustment of $93.8 million related to the company's investment in approximately 13.5 million shares of Safehold Inc., which increased earnings per share by $7.05 due to a mark-to-market valuation at quarter end.
Total revenue for the third quarter was US$24.6 million, representing a 44% decrease compared to the same period in the prior year. Land revenues contributed $6.1 million, primarily from the sale of 31 lots at Magnolia Green.
The company also recorded $3.7 million in income from sales of real estate, stemming from the final two condominium closings at the Asbury Ocean Club. These figures reflect the ongoing monetization strategy for Star Holdings' legacy real estate assets.
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