0001628280-26-035147 | 10-Q | XBRL Viewer | Comstock Holding Companies INC

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Revenue - Summary of Revenues from Contracts with Customers Disaggregated by Categories (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Revenue	$ 17,446	$ 12,639
Cost recovery
Disaggregation of Revenue [Line Items]
Revenue	11,083	8,624
Variable Contract
Disaggregation of Revenue [Line Items]
Revenue	3,376	2,651
Fixed fee
Disaggregation of Revenue [Line Items]
Revenue	2,987	1,364
Recurring/over time
Disaggregation of Revenue [Line Items]
Revenue	15,737	11,559
Point-in-time
Disaggregation of Revenue [Line Items]
Revenue	1,709	1,080
Related party
Disaggregation of Revenue [Line Items]
Revenue	15,448	11,452
Third party
Disaggregation of Revenue [Line Items]
Revenue	1,998	1,187
Asset management
Disaggregation of Revenue [Line Items]
Revenue	8,756	7,127
Property management
Disaggregation of Revenue [Line Items]
Revenue	3,424	2,958
ParkX Management
Disaggregation of Revenue [Line Items]
Revenue	$ 5,266	$ 2,554

Investments in Real Estate Ventures

3 Months Ended

Mar. 31, 2026

Equity Method Investments and Joint Ventures [Abstract]

Investments in Real Estate Ventures

The following table summarizes the Company's investments in real estate ventures (in thousands):



		March 31,		December 31,
Investment	Ownership %	2026		2025		Accounting Method
Investors X	50.0%	$	116	$	113	Fair Value
The Hartford	2.5%	460		459		Fair Value
BLVD Forty Four	5.0%	1,691		1,744		Fair Value
BLVD Ansel	5.0%	2,007		1,972		Fair Value
The Reed	9.0%	4,618		—		Fair Value
Total investments recorded at fair value		8,892		4,288
Comstock 41	100.0%	1,668		1,665		Consolidated
Total investments in real estate ventures		$	10,560	$	5,953

The Company’s maximum loss exposure on each of its investments in real estate ventures is equal to the carrying amount of the investment.

Investments Recorded at Fair Value

Additional details on the Company's unconsolidated investments in real estate ventures that are recorded at fair value are as follows:

Investors X

In April 2019, the Company entered into a master transfer agreement with CP Real Estate Services, LC (“CPRES”), an entity owned by Comstock’s Chief Executive Officer Christopher Clemente, that entitled the Company to priority distribution of residual cash flow from its Class B membership interest in Comstock Investors X, L.C. ("Investors X"), an unconsolidated variable interest entity that owns the Company's residual homebuilding operations. As of March 31, 2026, all residential lots have been sold. The proceeds from the lot sales will be distributed to the Company as remaining land development work associated with these projects is completed. (See Note 13 for additional information).

The Hartford

In December 2019, the Company entered into a joint venture with Comstock Partners, LC ("CP"), an entity controlled by Mr. Clemente and wholly owned by Mr. Clemente and certain family members, to acquire The Hartford Building ("The Hartford"), a Class-A office building adjacent to Clarendon Station on Metro’s Orange Line in Arlington County, Virginia. Built in 2003, the 211,000 square foot LEED Gold-certified, mixed-use building is located in the premier Rosslyn-Ballston corridor. In February 2020, the Company arranged for DivcoWest to purchase a majority ownership stake in The Hartford and secured a $87.0 million loan facility from MetLife. In connection with the transaction, the Company earned an acquisition fee in 2019 and is entitled to receive investment related income and promote distributions in connection with its equity interest in the asset. The Company has entered into asset management and property management agreements to provide asset, residential, retail, parking, security, and janitorial services for the property in exchange for market-rate fees, under which it recognized $0.3 million and $0.3 million of revenue for the three months ended March 31, 2026 and 2025, respectively. Fair value of the property is determined on a quarterly basis using an income approach model. As of March 31, 2026, the Company’s ownership interest in the Hartford was 2.5%. (See Note 13 for additional information).

BLVD Forty Four

In October 2021, the Company entered into a joint venture with CP to acquire a stabilized 15-story, luxury high-rise apartment building in Rockville, Maryland that was rebranded as BLVD Forty Four. Built in 2015 and located one block from the Rockville Station on Metro's Red Line in the heart of the I-270 Technology and Life Science Corridor, the 263-unit mixed use property includes approximately 16,000 square feet of retail and a commercial parking garage. In connection with the transaction, the Company earned an acquisition fee in 2021 and is entitled to receive investment related income and promote distributions in connection with its equity interest in the asset. The Company has entered into asset management and property management agreements to provide asset, residential, retail, parking, and janitorial services in exchange for market-rate fees, under which it recognized $0.4 million and $0.4 million of revenue for the three months ended March 31, 2026 and 2025, respectively. Fair value of the property is determined on a quarterly basis using an income approach model. As of March 31, 2026, the Company’s ownership interest in BLVD Forty Four was 5.0%. (See Note 13 for additional information).

BLVD Ansel

In March 2022, the Company entered into a joint venture with CP to acquire BLVD Ansel, a newly completed 18-story, luxury high-rise apartment building with 250 units located in Rockville, Maryland adjacent to both the Rockville Station on Metro's Red Line and BLVD Forty Four. BLVD Ansel features approximately 20,000 square feet of retail, 611 parking spaces, and expansive amenities including multiple private workspaces designed to meet the needs of remote-working residents. In connection with the transaction, the Company earned an acquisition fee in 2022 and is entitled to receive investment related income and promote distributions in connection with its equity interest in the asset. The Company has entered into asset management and property management agreements to provide asset, residential, retail, parking, and janitorial services in exchange for market-rate fees, under which it recognized $0.4 million and $0.3 million of revenue for the three months ended March 31, 2026 and 2025, respectively. Fair value of the property is determined on a quarterly basis using an income approach model. As of March 31, 2026, the Company’s ownership interest in BLVD Ansel was 5.0%. (See Note 13 for additional information).

The Reed

In March 2026, the Company entered into a joint venture with CP and a third-party institutional fund advised by Benefit Street Partners, LLC ("BSP") to acquire The Reed, a 417-unit apartment building located in Rockville, Maryland adjacent to the Shady Grove Station on Metro's Red Line. The Reed includes a resort-style swimming pool, fitness center with yoga/boxing studio, clubroom, serene outdoor gathering spaces, multiple resident lounges, and a private parking garage. In connection with the transaction, the Company earned a $0.5 million acquisition fee and is entitled to receive investment related income and promote distributions in connection with its equity interest in the asset. The Company has entered into asset management and property management agreements to provide asset, residential, and janitorial services in exchange for market-rate fees. Revenue recognized in relation to these services for the three months ended March 31, 2026 was $0.6 million. Fair value of the property for the three months ended March 31, 2026 is equal to the Company's initial investment, and going forward will be determined on a quarterly basis using an income approach model. As of March 31, 2026, the Company’s ownership interest in The Reed was 9.0%. (See Note 13 for additional information).

The following table summarizes the activity of the Company’s unconsolidated investments in real estate ventures that are reported at fair value (in thousands):


Balance as of December 31, 2025	$	4,288
Investments	4,618
Distributions	—
Change in fair value	(14)
Balance as of March 31, 2026	$	8,892

Comstock 41

In December 2023, the Company completed the acquisition of an 18,150 square foot land parcel located at 41 Maryland Avenue in Rockville, Maryland (“Comstock 41”) through a wholly owned subsidiary for $1.5 million. This investment property sits adjacent to BLVD Ansel and BLVD Forty-Four and is currently a surface parking lot. Comstock 41 has existing entitlements for at least 117 dwelling units and approximately 11,000 square feet of retail space.

In November 2024, the Company entered into a definitive purchase agreement for Comstock 41 with SCG Development Holdings, LLC ("SCG") that is contingent upon the successful rezoning of the property to allow for the development of an

affordable housing project at the site. Upon closing, the Company will enter into an operating agreement and a development agreement with SCG, under which the Company will provide construction management services for the affordable housing project that will be fully financed by SCG. The Company will also be given the opportunity to provide property management services upon delivery.

In December 2025, the Company received legislative approval from the City of Rockville for the affordable housing development and the relocation of certain moderately-priced dwelling units (MPDUs) from BLVD Forty Four to Comstock 41. The rezoning approval triggered a $1.6 million entitlement success fee based on a contingent fee agreement with BLVD Forty Four that was recognized as revenue in the fourth quarter of the fiscal year ended December 31, 2025. (See Note 13 for additional information).

Other Investments

The Company has a joint venture with Superior Title Services, Inc. ("STS") to provide title insurance to its clients. The Company records this co-investment using the equity method of accounting and adjusts the carrying value of the investment for its proportionate share of net income and distributions. The carrying value of the STS investment is recorded in "other assets" on the Company's consolidated statement of balance sheets. The Company's proportionate share of STS net income and distributions are recorded in gain (loss) on real estate ventures in the consolidated statements of operations and was $0.1 million and immaterial for the three months ended March 31, 2026 and 2025, respectively.

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2026
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the requirements of the U.S. Securities and Exchange Commission (the “SEC”). As permitted, certain information and footnote disclosures have been condensed or omitted. Intercompany balances and transactions have been eliminated and certain prior period amounts have been reclassified to conform to current period presentation. The Company identified an immaterial error in its consolidated statement of cash flows for the three months ended March 31, 2025. Certain amounts were classified as financing activity section that should have been presented as operating activity. The Company has corrected this error in the accompanying condensed consolidated financial statements by presenting the consolidated statement of cash flows for the three months ended March 31, 2025, in its corrected form. The correction had no material impact on the consolidated statement of cash flows for the three months ended March 31, 2025, and no impact on net income, retained earnings, or net income (loss) per share amounts presented. In management’s opinion, the condensed consolidated financial statements include all normal and recurring adjustments that are considered necessary for the fair presentation of the Company’s financial position and operating results. The results of operations presented in these interim condensed consolidated financial statements are unaudited and are not necessarily indicative of the results to be expected for the full fiscal year. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s fiscal year 2025 Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Annual Report”) filed with the SEC on March 17, 2026. The consolidated balance sheet as of December 31, 2025 was derived from the audited consolidated financial statements contained in the 2025 Annual Report. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Significant items subject to such estimates include, but are not limited to, the valuation of equity method investments, incentive fee revenue recognition, and the valuation of deferred tax assets. Assumptions made in the development of these estimates contemplate both the macroeconomic landscape and the Company's anticipated results, however actual results may differ materially from these estimates. Recent Accounting Pronouncements - Adopted In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This guidance is a final standard on improvements to income tax disclosures and requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on income taxes paid. This standard is effective for fiscal years beginning after December 15, 2024, and early adoption was permitted. The Company adopted the standard effective January 1, 2025 and included the required tax disclosure updates in the notes to its consolidated financial statements found within its Annual Report on Form 10-K. Recent Accounting Pronouncements - Not Yet Adopted In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This guidance requires disclosure of disaggregated information about certain financial statement expense line items presented on the consolidated statements of operations in the notes to the financial statements on an interim and annual basis. The standard can be applied either prospectively or retrospectively and is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027; early adoption is permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures.

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Revenue from Contract with Customer [Abstract]
Incentive fee revenue	$ 0.0	$ 0.0

Fair Value Measurements

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

ASC 820 — Fair Value Measurement and Disclosures, provides a framework for measuring fair value and establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels:

Level 1 — Quoted prices in active markets that are accessible at the measurement date for assets or liabilities;

Level 2 — Observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and

Level 3 — Unobservable inputs that are used when little or no market data is available.

As of March 31, 2026, the carrying amount of cash and cash equivalents, accounts receivable, other current assets, accounts payable, accrued expenses, and other current liabilities are approximated fair value because of the short-term nature of these instruments.

The following table summarizes assets and liabilities measured at fair value on a recurring basis:


	Fair Value Measurements
	Amount		Level 1		Level 2		Level 3
3/31/2026
Investments in real estate ventures	$	8,892	$	—	$	—	$	8,892
Deferred compensation plan assets	1,179		1,179		—		—
Equity investments
Variable voting shares - Jericho	1,658		1,658		—		—
Stock warrants - Jericho	276		—		276		—
Deferred compensation plan liabilities	1,203		1,203		—		—

12/31/2025
Investments in real estate ventures	$	4,288	$	—	$	—	$	4,288
Deferred compensation plan assets	897		897		—		—
Deferred compensation plan liabilities	960		960		—		—

The Company’s private placement Jericho stock warrants (see Note 4 for additional information) are classified within Level 2 of the fair value hierarchy because they are not actively traded. Fair value for the warrants is determined utilizing a Black-Scholes option pricing model to estimate the fair value as of the end of each reporting period. While some inputs are unobservable, the significant inputs, including volatility, risk-free rate, and expected term, are derived from or corroborated by observable market data. Changes in fair value of the Jericho stock warrants are recognized in gain (loss) on equity investments on the Company's consolidated statements of operations along with the changes in fair value of the Jericho variable voting shares.

The following table summarizes information about the significant unobservable inputs used in recurring fair value measurements categorized within Level 3:

Amount

Valuation
Technique(s)

Unobservable
Input(s)

Range (Wtd. Avg.)(1)

3/31/2026

Investments in real estate ventures

8,892

Income approach

Capitalization rate

5.25% - 7.45% (5.63%)

Discount rate

7.10% - 8.50% (7.28%)

12/31/2025

Investments in real estate ventures

4,288

Income approach

Capitalization rate

5.25% - 7.45% (5.63%)

Discount rate

7.05% - 8.50% (7.23%)

(1)

Range represents to lowest and highest iteration of the input used across all valuation models. Weighted averages were calculated using the relative fair value of the instruments

The Company may also value its non-financial assets and liabilities, including items such as long-lived assets, at fair value on a non-recurring basis if it is determined that impairment has occurred. Such fair value measurements typically use significant

unobservable inputs (Level 3), unless a quoted market price (Level 1) or quoted prices for similar instruments, quoted prices for identical or similar instruments in inactive markets, or amounts derived from valuation models (Level 2) are available.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 6A
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Leases (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Schedule of Lease Cost and Cash Flow Information

The following table summarizes operating lease costs by type (in thousands):


	Three Months Ended March 31,
		2026		2025
Operating lease costs
Fixed lease costs		$	297	$	297
Variable lease costs		91		97
Total operating lease costs		$	388	$	394

The following table presents supplemental cash flow information related to the Company's operating leases (in thousands):


	Three Months Ended March 31,
		2026		2025
Cash paid for lease liabilities:
Operating cash flows from operating leases		$	398	$	396

Schedule of Maturities of Lease Liabilities

The following table summarizes future lease payments (in thousands):


Year Ending December 31,	Operating Leases
2026 (9 months)	$	914
2027	1,204
2028	1,233
2029	1,262
2030	1,073
Thereafter	—
Total future lease payments	5,686
Imputed interest	(583)
Total lease liabilities	$	5,103

Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Market Rate Fee

The Market Rate Fee calculation is defined in the 2022 AMA as the sum of the fees detailed in the following table:


Description			2022 AMA Fees
Asset Management Fee			2.5% of Anchor Portfolio revenue
Entitlement Fee			15% of total re-zoning costs
Development and Construction Fee			5% of development costs (excluding previously charged Entitlement Fees)
Property Management Fee			1% of Anchor Portfolio revenue
Acquisition Fee			1% on first $50 million of purchase price; 0.5% above $50 million
Disposition Fee			1% on first $50 million of sale price; 0.5% above $50 million

Schedule of Supplemental Fees

In addition to the annual payment of either the Market Rate Fee or the Cost-Plus Fee, CAM is also entitled on an annual basis to receive certain supplemental fees, as detailed for the respective asset management agreements in the following table:


	Description	2022 AMA
	Incentive Fee	When receiving Market Rate Fee: On a mark-to-market basis, equal to 20% of the imputed profit of certain real estate assets comprising the Anchor Portfolio for which a Triggering Event(1) has occurred, after calculating a compounding preferred return of 8% on CP invested capital (the “Market Incentive Fee”) When receiving the Cost-Plus Fee: On a mark-to-market basis, an incentive fee equal to 10% of the imputed profit of certain real estate assets comprising the Anchor Portfolio for which a Triggering Event1 has occurred, after calculating a compounding preferred return of 8% on CP invested capital (the “Base Incentive Fee”)
	Investment Origination Fee	1% of raised capital
	Leasing Fee	$1/per sqft. for new leases and $0.50/per sqft. for lease renewals
	Lease Termination Fee	3.5% of the gross early lease termination fee paid by a commercial tenant
	Loan Origination Fee	1% of any financing transaction or other commercially reasonable and mutually agreed upon fee


(1)	Triggering events for managed assets that have yet to earn incentive fees are tied to specific events such as transactions (sale/refinance), stabilization metrics (% leased), or a milestone date, as determined by the Company and with explicit consent from CP.

Fair Value Measurements - Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Thousands	Mar. 31, 2026 USD ($)	Dec. 31, 2025 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	$ 8,892	$ 4,288
Capitalization rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	0.0563	0.0563
Discount rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	0.0728	0.0723
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	$ 8,892	$ 4,288
Level 3 \| Capitalization rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	0.0525	0.0525
Level 3 \| Capitalization rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	0.0745	0.0745
Level 3 \| Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	0.0710	0.0705
Level 3 \| Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	0.0850	0.0850

Investments in Real Estate Ventures - Schedule of Investments in Real Estate Ventures (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Equity Method Investment and Joint Venture, Fair Value Change [Roll Forward]
Fair value investments, beginning balance	$ 4,288
Change in fair value	(72)	$ (9)
Fair value investments, ending balance	8,892
Level 3
Equity Method Investment and Joint Venture, Fair Value Change [Roll Forward]
Fair value investments, beginning balance	4,288
Investments	4,618
Distributions	0
Change in fair value	(14)
Fair value investments, ending balance	$ 8,892

Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Leases [Abstract]
2026 (9 months)	$ 914
2027	1,204
2028	1,233
2029	1,262
2030	1,073
Thereafter	0
Total future lease payments	5,686
Imputed interest	(583)
Total lease liabilities	$ 5,103

Leases - Narrative (Detail)	Mar. 31, 2026
Lessee, Lease, Description [Line Items]
Operating lease, weighted average remaining lease term	4 years 7 months 6 days
Operating lease, weighted average discount rate, percent	4.65%
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	5 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	10 years

Equity Investments (Details) $ in Thousands	1 Months Ended	3 Months Ended
Equity Investments (Details) $ in Thousands	Feb. 28, 2026 USD ($)	Mar. 31, 2026 USD ($)	Mar. 31, 2025 USD ($)	Feb. 28, 2026 $ / shares shares
Debt and Equity Securities, FV-NI [Line Items]
Payments to acquire equity securities, FV-NI \| $		$ 1,500	$ 0
Jericho Energy Ventures, Inc.
Debt and Equity Securities, FV-NI [Line Items]
Payments to acquire equity securities, FV-NI \| $	$ 1,500
Investment owned (in shares) \| shares				25,684,932
Investment owned, shares, percent of total outstanding				7.00%
Investment owned, balance, warrants (in shares) \| shares				12,842,466
Investment owned, balance, warrants, exercise price (in CAD per share) \| $ / shares				$ 0.20
Investment owned, balance, warrants, term				24 months
Investment owned, trading restriction, term		5 years

Equity Investments	3 Months Ended
Equity Investments	Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]
Equity Investments	Equity Investments In February 2026, the Company made an initial $1.5 million investment in Jericho Energy Ventures, Inc. (TSXV: JEV) ("Jericho"), a Canada-based diversified energy company with whom the Company intends to establish a joint venture that will focus on pursuing the development of large-scale data center campuses across thousands of acres of land parcels located in Oklahoma. The goal of the joint venture will be to assemble a strategic portfolio of land that integrates Jericho's subsurface land and energy assets with surface land interests that can be utilized to deliver low-cost, high-performance, behind-the-meter power solutions that have the capability to support the development of large-scale AI data center campuses. The initial investment was made through a non-brokered private placement and was intended to further align the interests of the Company and Jericho. In return for its investment, the Company received 25,684,932 variable voting shares of Jericho, representing approximately 7% of Jericho's total shares outstanding, as well as warrants to purchase up to 12,842,466 additional variable voting shares at an exercise price of 0.20 CAD that are exercisable for a period of 24 months from the date of issuance. The Company's equity investment in Jericho is recorded at fair value as a long-term asset on its consolidated balance sheet, as per to the terms of the investment agreement, there are trading restrictions in place for five years from the time of purchase. Pursuant to ASC 321 – Investments–Equity Securities, the Jericho shares are carried at fair value and measured using the quoted market price as of the end of each reporting period. The Jericho warrants are equity-linked instruments denominated in a foreign currency, thereby classifying them as a derivative asset pursuant to ASC 815 – Derivatives and Hedging. The Jericho warrants are carried at fair value and measured using a Black-Scholes option pricing model (See Note 8 for additional information). The total fair value of the Company's equity investments in Jericho (shares and warrants) is estimated at the end of each quarterly reporting period and appropriately marked-to-market. Any unrealized gains and losses based on the quarterly re-measurements are recorded as non-operating gains (losses) on the Company's consolidated statements of income.

Company Overview (Details)	Mar. 31, 2026 subsidiary
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of subsidiaries	4

Debt - Narrative (Details) - Secured Financing - Credit Facility $ in Millions	1 Months Ended
	Mar. 31, 2025 USD ($)
Line of Credit Facility [Line Items]
Debt instrument term (in years)	5 years
Maximum borrowing capacity	$ 10.0
Debt instrument spread variable rate	1.00%

Stockholders' Equity - Summary Information about Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Options Outstanding
Beginning balance (in shares)	50
Granted (in shares)	0
Exercised (in shares)	(30)
Canceled/forfeited (in shares)	0
Expired (in shares)	0
Ending balance (in shares)	20	50
Exercisable (in shares)	20
Weighted- Average Exercise Price
Weighted average exercise price, beginning balance (in dollars per share)	$ 3.30
Weighted average exercise price, granted (in dollars per share)	0
Weighted average exercise price, exercised (in dollars per share)	3.30
Weighted average exercise price, canceled/forfeited (in dollars per share)	0
Weighted average exercise price, expired (in dollars per share)	0
Weighted average exercise price, ending balance (in dollars per share)	3.30	$ 3.30
Weighted average exercise price, exercisable (in dollars per share)	$ 3.30
Weighted- Average Remaining Contractual Term (Years)
Weighted-average remaining contractual term, outstanding	2 years 2 months 12 days	2 years 6 months
Weighted-average remaining contractual term, exercisable	2 years 2 months 12 days
Aggregate Intrinsic Value
Aggregate intrinsic value outstanding	$ 313	$ 416
Aggregate intrinsic value exercisable	$ 313

Net Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Summary of Earnings Per Share, Basic and Diluted

The following table summarizes the calculation of basic and diluted net income per share (in thousands, except per share data):


	Three Months Ended March 31,
		2026		2025
Numerator:
Net income (loss) - Basic and Diluted		$	1,989	$	1,589

Denominator:
Weighted-average common shares outstanding - Basic		10,204		10,033
Effect of common share equivalents		289		334
Weighted-average common shares outstanding - Diluted		10,493		10,367

Net income (loss) per share:
Basic		$	0.19	$	0.16
Diluted		$	0.19	$	0.15

Investments in Real Estate Ventures (Tables)

3 Months Ended

Mar. 31, 2026

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments, Group of Investment Consolidated Balance Sheet at Fair Value

The following table summarizes the Company's investments in real estate ventures (in thousands):



		March 31,		December 31,
Investment	Ownership %	2026		2025		Accounting Method
Investors X	50.0%	$	116	$	113	Fair Value
The Hartford	2.5%	460		459		Fair Value
BLVD Forty Four	5.0%	1,691		1,744		Fair Value
BLVD Ansel	5.0%	2,007		1,972		Fair Value
The Reed	9.0%	4,618		—		Fair Value
Total investments recorded at fair value		8,892		4,288
Comstock 41	100.0%	1,668		1,665		Consolidated
Total investments in real estate ventures		$	10,560	$	5,953

Schedule of Investments in Real Estate Ventures

The following table summarizes the activity of the Company’s unconsolidated investments in real estate ventures that are reported at fair value (in thousands):


Balance as of December 31, 2025	$	4,288
Investments	4,618
Distributions	—
Change in fair value	(14)
Balance as of March 31, 2026	$	8,892

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash paid for lease liabilities:
Operating cash flows from operating leases	$ 398	$ 396

Net Income (Loss) Per Share - Summary of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Numerator:
Net income (loss) - Basic and Diluted	$ 1,989	$ 1,589
Denominator:
Basic - weighted-average common stock shares outstanding (in shares)	10,204	10,033
Effect of common share equivalents (in shares)	289	334
Diluted - weighted-average common shares outstanding (in shares)	10,493	10,367
Net income (loss) per share:
Basic - net income (loss) per share (in dollars per share)	$ 0.19	$ 0.16
Diluted - net income (loss) per share (in dollars per share)	$ 0.19	$ 0.15

- Definition

Amount after tax of income (loss) from continuing operations attributable to the parent.

+ References

+ Details

- Definition

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

+ References

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- Definition

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+ Details

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company has significant deferred tax assets that stem from net operating loss ("NOL") carryforwards generated prior to 2019 when the Company's primary focus was on homebuilding activities. As of December 31, 2025, these NOL carryforwards were estimated to represent approximately $24.8 million in potential future tax savings. The Company currently maintains a valuation allowance against its deferred tax assets to reduce the carrying balance to the amount that is more likely than not to be realized against future taxable income. The balance of the deferred tax asset valuation allowance is assessed on a quarterly basis and adjusted as needed. The Company's effective tax rates for the three months ended March 31, 2026 and 2025 differ from the U.S. federal statutory tax rate of 21%, primarily due to the impact of stock compensation shortfall/windfall adjustments.

- Definition

The entire disclosure for income tax.

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+ Details

Stockholders' Equity - Narrative (Details) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($) vote installment $ / shares shares	Mar. 31, 2025 USD ($)	Dec. 31, 2025 $ / shares shares	Feb. 12, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation \| $	$ 0.5	$ 0.3
Unrecognized compensation cost related to nonvested stock issuances \| $	$ 3.0
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition	2 years 3 months 18 days
Total intrinsic value of stock options \| $	$ 0.4	0.2
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual installments \| installment	4
Vesting period	4 years
Share-based compensation arrangement by share-based payment award, equity instruments other than options, aggregate intrinsic value, vested \| $	$ 2.3	$ 1.6
Restricted stock units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting range, percentage	60.00%
Restricted stock units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting range, percentage	120.00%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual installments \| installment	4
Vesting period	4 years
Omnibus incentive plan stock option expiration period	10 years
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01		$ 0.01
Common stock, number of votes per share \| vote	1
Common stock, shares issued (in shares) \| shares	10,125		9,958
Common Class A \| Two Thousand Nineteen Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) \| shares				2,500
Common stock, shares issued (in shares) \| shares	1,100
Common Class B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01		$ 0.01
Common stock, number of votes per share \| vote	15
Common stock, shares issued (in shares) \| shares	220		220

Related Party Transactions - Schedule of Supplemental Fees (Details) - 2022 Amended Asset Management Agreement - Related party	1 Months Ended
	Jun. 30, 2022 $ / ft²
Incentive Fee
Related Party Transaction [Line Items]
Percentage of market-to-market profit basis	20.00%
Cumulative, compounded, preferred return rate	8.00%
Percentage of cost-plus fee market-to-market profit basis	10.00%
Investment Origination Fee
Related Party Transaction [Line Items]
Percentage of raised capital	1.00%
Leasing Fee
Related Party Transaction [Line Items]
Lease fee for new leases (in dollars per square foot)	1
Lease fee for renewal leases (in dollars per square foot)	0.50
Lease Termination Fee
Related Party Transaction [Line Items]
Percentage of gross rental revenue paid	3.50%
Loan Origination Fee
Related Party Transaction [Line Items]
Percentage of financing transaction	1.00%

Related Party Transactions - Narrative (Detail) $ in Thousands		1 Months Ended				3 Months Ended
	Feb. 01, 2024	Dec. 31, 2025 USD ($)	Mar. 31, 2025 USD ($)	Nov. 30, 2022 ft²	Mar. 31, 2022 unit	Mar. 31, 2026 USD ($)	Mar. 31, 2025 USD ($)	Feb. 28, 2026 USD ($)	Mar. 19, 2025 USD ($)	Dec. 31, 2022 USD ($)	Jan. 31, 2022	Nov. 30, 2020	Feb. 07, 2020
Related Party Transaction [Line Items]
Investment program, proportional amortization method, elected, equity method investment, income (loss) from tax credit investment		$ 1,600
The Reed
Related Party Transaction [Line Items]
Number of units in property \| unit					417
Ownership %						9.00%
Superior Title Services, Inc.
Related Party Transaction [Line Items]
Profit (loss) from real estate operations						$ 100	$ 0
The Reed
Related Party Transaction [Line Items]
Number of units in property \| unit					417
Secured Financing \| Credit Facility
Related Party Transaction [Line Items]
Maximum borrowing capacity			$ 10,000				$ 10,000
Debt instrument spread variable rate			1.00%
Comstock 41
Related Party Transaction [Line Items]
Business combination, acquisition related costs						$ 100
Entitlement success fee, earned, economic value percentage						0.25
CDS \| Secured Financing \| Credit Facility
Related Party Transaction [Line Items]
Maximum borrowing capacity									$ 10,000
Business Management Agreement
Related Party Transaction [Line Items]
Business management agreements renewal term	1 year
Monthly management fee								$ 10
Related party
Related Party Transaction [Line Items]
Operating lease, term of contract											5 years	10 years
Related party \| DWC Operating Agreement
Related Party Transaction [Line Items]
Percentage of membership interest owned by company and partners													100.00%
Related party \| Residential Property Management Agreements
Related Party Transaction [Line Items]
Property management agreements initial term						1 year
Property management agreements renewal term						1 year
Related party \| Lease Procurement Agreement \| Minimum
Related Party Transaction [Line Items]
Future lease payment percentage of leasing fee						1.00%
Related party \| Lease Procurement Agreement \| Maximum
Related Party Transaction [Line Items]
Future lease payment percentage of leasing fee						2.00%
Related party \| Lease Expansion Agreement
Related Party Transaction [Line Items]
Number of square foot \| ft²				3,778
Related party \| 2022 Amended Asset Management Agreement
Related Party Transaction [Line Items]
Fixed annual payment										$ 1,000

Revenue

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue

All of the Company's revenue for the three months ended March 31, 2026 and 2025 was generated in the United States.

The following tables summarize the Company’s revenue by line of business, customer type, and contract fee type (in thousands):


		Three Months Ended March 31,
			2026		2025
	Revenue by Line of Business
	Asset management		$	8,756	$	7,127
	Property management (1)		3,424		2,958
	ParkX management		5,266		2,554
	Total revenue		$	17,446	$	12,639


(1)	CHCI Commercial and CHCI Residential


	Three Months Ended March 31,
		2026		2025
Revenue by Customer Type
Related party		$	15,448	$	11,452
Third party		1,998		1,187
Total revenue		$	17,446	$	12,639


	Three Months Ended March 31,
		2026		2025
Revenue by Timing
Recurring/over time		$	15,737	$	11,559
Point-in-time		1,709		1,080
Total revenue		$	17,446	$	12,639


		Three Months Ended March 31,
			2026		2025
	Revenue by Contract Fee Type (1)
	Cost recovery(2)		$	11,083	$	8,624
	Variable(3)		3,376		2,651
	Fixed fee(4)		2,987		1,364
	Total revenue		$	17,446	$	12,639


(1)	Certain contracts contain multiple revenue streams that lend to classification in more than one category.
(2)	Includes cost plus revenues tied to asset management services under the 2022 AMA and revenue earned from reimbursable expenses.
(3)	Includes fixed rate contract amounts applied to various variable metrics to determine the amount of revenue earned.
(4)	Includes fixed fee arrangements where the dollar value of the revenue earned remains consistent over time.

Pursuant to the terms of the asset management agreement with CP (the "2022 AMA"), the Company may earn and recognize incentive fee revenue for certain commercial assets in its managed portfolio based on specific dates and measurement criteria that are defined in the agreement. The Company recognized no revenue from incentive fees for the three months ended March 31, 2026 and 2025. (See Note 13 for additional information).

As a practical expedient, we do not disclose the value of unsatisfied performance obligations for contracts with an effective expected duration of one year or less or contracts for which we recognize revenues at the amount to which we have the right to invoice for the services provided.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	Apr. 30, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	1-32375
Entity Registrant Name	Comstock Holding Companies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1164345
Entity Address, Address Line One	1900 Reston Metro Plaza
Entity Address, Address Line Two	10th Floor
Entity Address, City or Town	Reston
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	20190
City Area Code	703
Local Phone Number	230-1985
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	CHCI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001299969
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		10,038,978
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		220,250

Income Taxes (Detail) $ in Millions	Mar. 31, 2026 USD ($)
Income Tax Disclosure [Abstract]
NOL carryforwards	$ 24.8

Related Party Transactions

3 Months Ended

Mar. 31, 2026

Related Party Transactions

Asset Management Agreements

In June 2022, CHCI Asset Management, L.C. (“CAM”), an entity wholly owned by the Company, entered into a master asset management agreement with CP (the “2022 AMA”) that superseded in its entirety the previous asset management agreement between CAM and CPRES dated April 30, 2019. Entry into the 2022 AMA was unanimously approved by the independent directors of the Company.

The 2022 AMA engaged CAM to manage and administer CP’s commercial real estate portfolio (the "Anchor Portfolio") and the day-to-day operations of CP and each property-owning subsidiary of CP (collectively, the “CP Entities”). CAM will provide investment advisory, development, and asset management services necessary to build out, stabilize and manage the Anchor Portfolio, which currently consists primarily of two of the larger transit-oriented, mixed-use developments located on Washington D.C. Metro’s Silver Line (Reston Station and Loudoun Station) that are owned by CP Entities and ultimately controlled by Mr. Clemente.

Pursuant to the fee structures set forth in the 2022 AMA and subsequent approved amendments, CAM is entitled to receive an annual payment equal to the greater of the "Cost-Plus Fee" or the "Market Rate Fee". The Cost-Plus Fee is equal to the sum of (i) the comprehensive costs incurred by or for providing services to the Anchor Portfolio, (ii) the costs and expenses of the Company related to maintaining the listing of its shares on a securities exchange and complying with regulatory and reporting obligations of a public company, and (iii) a fixed annual payment of $1.0 million. The Market Rate Fee calculation is defined in the 2022 AMA as the sum of the fees detailed in the following table:


Description			2022 AMA Fees
Asset Management Fee			2.5% of Anchor Portfolio revenue
Entitlement Fee			15% of total re-zoning costs
Development and Construction Fee			5% of development costs (excluding previously charged Entitlement Fees)
Property Management Fee			1% of Anchor Portfolio revenue
Acquisition Fee			1% on first $50 million of purchase price; 0.5% above $50 million
Disposition Fee			1% on first $50 million of sale price; 0.5% above $50 million


	Description	2022 AMA
	Incentive Fee	When receiving Market Rate Fee: On a mark-to-market basis, equal to 20% of the imputed profit of certain real estate assets comprising the Anchor Portfolio for which a Triggering Event(1) has occurred, after calculating a compounding preferred return of 8% on CP invested capital (the “Market Incentive Fee”) When receiving the Cost-Plus Fee: On a mark-to-market basis, an incentive fee equal to 10% of the imputed profit of certain real estate assets comprising the Anchor Portfolio for which a Triggering Event1 has occurred, after calculating a compounding preferred return of 8% on CP invested capital (the “Base Incentive Fee”)
	Investment Origination Fee	1% of raised capital
	Leasing Fee	$1/per sqft. for new leases and $0.50/per sqft. for lease renewals
	Lease Termination Fee	3.5% of the gross early lease termination fee paid by a commercial tenant
	Loan Origination Fee	1% of any financing transaction or other commercially reasonable and mutually agreed upon fee


(1)	Triggering events for managed assets that have yet to earn incentive fees are tied to specific events such as transactions (sale/refinance), stabilization metrics (% leased), or a milestone date, as determined by the Company and with explicit consent from CP.

The 2022 AMA will terminate on January 1, 2035 (“Initial Term”) and will automatically renew for successive additional one year terms (each an “Extension Term”) unless CP delivers written notice of non-renewal of the 2022 AMA at least 180 days prior to the termination date of the Initial Term or any Extension Term. Twenty-four months after the effective date of the 2022 AMA, CP is entitled to terminate the 2022 AMA without cause upon 180 days advance written notice to CAM. In the event of such a termination and in addition to the payment of any accrued annual fees due and payable as of the termination date under the 2022 AMA, CP is required to pay a termination fee equal to two times the Cost-Plus Fee or Market Rate Fee paid to CAM for the calendar year immediately preceding the termination.

Residential, Commercial, and Parking Property Management Agreements

The Company entered into separate residential property management agreements with properties owned by CP Entities under which the Company receives fees to manage and operate the properties, including tenant communications, leasing of apartment units, rent collections, building maintenance and day-to-day operations, engagement and supervision of contractors and vendors providing services for the buildings, and budget preparation and oversight.

The Company entered into separate commercial property and parking management agreements with several properties owned by CP Entities under which the Company receives fees to manage and operate the office and retail portions of the properties, including tenant communications, rent collections, building maintenance and day-to-day operations, engagement and supervision of contractors and vendors providing services for the buildings, and budget preparation and oversight. These property management agreements each have initial terms of one year with successive, automatic one-year renewal terms. The Company generally receives base management fees under these agreements based upon a percentage of gross rental revenues for the portions of the buildings being managed in addition to reimbursement of specified expenses, including employment expenses of personnel employed by the Company in the management and operation of each property.

Construction Management Agreements

The Company has construction management agreements with properties owned by CP Entities under which the Company receives fees to provide certain construction management and supervision services, including management of tenant buildouts and casualty event remediation and restoration. The Company typically receives a construction management fee that is set forth in the applicable tenant’s lease or executed work authorization and based on a percentage of the total costs (or total hard costs) of the project.

Lease Procurement Agreements

The Company has lease procurement agreements with properties owned by CP Entities under which the Company receives certain finders' fees in connection with the procurement of new leases for such properties where an external broker is not engaged on behalf of the CP Entities. Such leasing fees are supplemental to the fees generated from the Company's management agreements referenced above and are generally 1-2% of the future lease payments to be received by the CP Entity from the executed lease.

Business Management Agreements

In February 2024, CAM entered into a Business Management Agreement (the “SH Management Agreement”) with Springfield Holdings, LLC (“Springfield”), an entity controlled by a member of CP, whereby CAM provides Springfield with professional management and consultation on land development and real estate services for a residential community located in Ranson, West Virginia ("Tackley Mill"). The initial term of the SH Management Agreement extended through December 31, 2024, with automatic one-year renewals. The SH Management Agreement provides that Springfield will reimburse CAM for certain pre-development expenses at cost. In February 2026, the Tackley Mill property was acquired by WV Opportunity Ventures, LC ("WV Ventures"), a wholly owned subsidiary of CP. Commensurate with this transaction, the SH Management Agreement was assigned to WV Ventures and amended to include a $10k/month management fee payable to CAM in addition to the reimbursement of pre-development expenses at cost.

Investors X

In April 2019, the Company entered into a master transfer agreement with CPRES that entitled the Company to priority distribution of residual cash flow from its Class B membership interest in Comstock Investors X, L.C. ("Investors X"), an unconsolidated variable interest entity that owns the Company's residual homebuilding operations. The Company considers Investors X to be a variable interest entity over which it does not have the power to direct activities that most significantly impact economic performance, therefore it is not the primary beneficiary of Investors X and does not have to consolidate the entity into its financial results. (See Note 3 for additional information).

The Hartford

In December 2019, the Company made an investment related to the purchase of The Hartford, a stabilized commercial office building located at 3101 Wilson Boulevard in the Clarendon area of Arlington, Virginia. In conjunction with the investment, the Company entered into an operating agreement with CP to form Comstock 3101 Wilson, LC, to purchase The Hartford. Pursuant to the Operating Agreement, the Company held a minority membership interest of The Hartford and the remaining membership interests of The Hartford are held by CP.

In February 2020, the Company, CP and DWF VI 3101 Wilson Member, LLC (“DWF”), an unaffiliated, third party, equity investor in the Hartford, entered into a limited liability company agreement (the “DWC Operating Agreement”) to form DWC 3101 Wilson Venture, LLC (“DWC”) to, among other things, acquire, own and hold all interests in The Hartford. In furtherance thereof, on February 7, 2020, the original operating agreement was amended and restated (the “A&R Operating Agreement”) to memorialize the Company’s and CP’s assignment of 100% of its membership interests in The Hartford to DWC. As a result, DWC is the sole member of the Hartford Owner. The Company and CP, respectively, hold minority membership interests in, and DWF holds the majority membership interest in, DWC. (See Note 3 for additional information).

BLVD Forty Four/BLVD Ansel

In October 2021 and March 2022, the Company entered into joint ventures with CP to acquire BLVD Forty Four and BLVD Ansel, respectively, two adjacent mixed-use luxury high-rise apartment buildings located in Rockville, Maryland. The Company considers BLVD Forty Four and BLVD Ansel to be variable interest entities upon which it exercises significant influence; however, considering key factors such as the Company’s ownership interest and participation in policy-making decisions by majority equity holders, and oversight of management services by majority equity holders, the Company concluded that the power to direct activities that most significantly impact economic performance is shared. Given that the Company is not the entity most closely associated with the properties, it concluded that it is not the primary beneficiary and does not have a controlling financial interest in either property.

In conjunction with the acquisition of Comstock 41, the Company entered into an amendment to the existing asset management agreement with CP to introduce an acquisition pursuit fee of $0.1 million and contingent entitlement success fee to pursue potential relocation of moderately-priced dwelling units ("MPDUs") from BLVD Forty Four to Comstock 41. The acquisition pursuit fee was earned and recognized as revenue for the year ended December 31, 2023, upon the completion of the Comstock 41 acquisition. The entitlement success fee, if earned, will equal 25% of the economic value created by the relocation of the MPDUs as agreed upon by both parties, and due upon approval by local government agencies. In December 2025, the Company received legislative approval from the City of Rockville and recognized a $1.6 million entitlement success fee based on the agreement with BLVD Forty Four. (See Note 3 for additional information).

The Reed

In March 2026, the Company entered into joint ventures with CP and BSP to acquire The Reed, a 417-unit apartment building located in Rockville, Maryland. The Company provides asset management, property management, and janitorial services to The Reed through its wholly owned subsidiaries. The Company considers The Reed to be a variable interest entity, over which it exercises significant influence; however, considering key factors such as the Company’s 9% ownership interest and participation in policy-making decisions, as well as oversight of management services by BSP and CP, the Company concluded that the power to direct activities that most significantly impact economic performance is shared. Given that the Company is not the entity most closely associated with the property, it concluded that it is not the primary beneficiary and does not have a controlling financial interest in the property.

Corporate Leases

In November 2020, the Company relocated its corporate headquarters to office space owned and controlled by its Chief Executive Officer Christopher Clemente and his family, pursuant to a ten-year lease agreement. In November 2022, the Company executed a 3,778 square foot lease expansion agreement with terms that align with the original agreement. In January 2022, ParkX Management, LC, a subsidiary of the Company, entered into a separate five-year lease agreement with CP to host ParkX's specialized remote monitoring center operations. (See Note 5 for additional information).

Credit Facility

In March 2025, the Company entered into an agreement with CP to secure a $10.0 million capital line of credit with a variable interest rate of the Wall Street Journal Prime Rate plus 1.00% per annum that is scheduled to expire in March 2030, replacing a pre-existing expiring credit facility with a different affiliated entity (See Note 6 for additional information).

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Net Income (Loss) Per Share - Narrative (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2026 shares
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from diluted share computation (in shares)	0

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2026
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the requirements of the U.S. Securities and Exchange Commission (the “SEC”). As permitted, certain information and footnote disclosures have been condensed or omitted. Intercompany balances and transactions have been eliminated and certain prior period amounts have been reclassified to conform to current period presentation. The Company identified an immaterial error in its consolidated statement of cash flows for the three months ended March 31, 2025. Certain amounts were classified as financing activity section that should have been presented as operating activity. The Company has corrected this error in the accompanying condensed consolidated financial statements by presenting the consolidated statement of cash flows for the three months ended March 31, 2025, in its corrected form. The correction had no material impact on the consolidated statement of cash flows for the three months ended March 31, 2025, and no impact on net income, retained earnings, or net income (loss) per share amounts presented. In management’s opinion, the condensed consolidated financial statements include all normal and recurring adjustments that are considered necessary for the fair presentation of the Company’s financial position and operating results. The results of operations presented in these interim condensed consolidated financial statements are unaudited and are not necessarily indicative of the results to be expected for the full fiscal year. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s fiscal year 2025 Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Annual Report”) filed with the SEC on March 17, 2026. The consolidated balance sheet as of December 31, 2025 was derived from the audited consolidated financial statements contained in the 2025 Annual Report.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Significant items subject to such estimates include, but are not limited to, the valuation of equity method investments, incentive fee revenue recognition, and the valuation of deferred tax assets. Assumptions made in the development of these estimates contemplate both the macroeconomic landscape and the Company's anticipated results, however actual results may differ materially from these estimates.
Recent Accounting Pronouncements - Adopted and Not Yet Adopted	Recent Accounting Pronouncements - Adopted In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This guidance is a final standard on improvements to income tax disclosures and requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on income taxes paid. This standard is effective for fiscal years beginning after December 15, 2024, and early adoption was permitted. The Company adopted the standard effective January 1, 2025 and included the required tax disclosure updates in the notes to its consolidated financial statements found within its Annual Report on Form 10-K. Recent Accounting Pronouncements - Not Yet Adopted In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” This guidance requires disclosure of disaggregated information about certain financial statement expense line items presented on the consolidated statements of operations in the notes to the financial statements on an interim and annual basis. The standard can be applied either prospectively or retrospectively and is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027; early adoption is permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures.

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

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+ Details

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	$ 8,892	$ 4,288
Deferred compensation plan assets	1,179	897
Equity investments	1,935	0
Deferred compensation plan liabilities	1,203	960
Variable voting shares - Jericho
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	1,658
Stock warrants - Jericho
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	276
Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	0	0
Deferred compensation plan assets	1,179	897
Deferred compensation plan liabilities	1,203	960
Level 1 \| Variable voting shares - Jericho
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	1,658
Level 1 \| Stock warrants - Jericho
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	0
Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	0	0
Deferred compensation plan assets	0	0
Deferred compensation plan liabilities	0	0
Level 2 \| Variable voting shares - Jericho
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	0
Level 2 \| Stock warrants - Jericho
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	276
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments in real estate ventures	8,892	4,288
Deferred compensation plan assets	0	0
Deferred compensation plan liabilities	0	$ 0
Level 3 \| Variable voting shares - Jericho
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	0
Level 3 \| Stock warrants - Jericho
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	$ 0

Stockholders' Equity - Summary of Company's Restricted Share Activity (Details) - Restricted stock units shares in Thousands	3 Months Ended
	Mar. 31, 2026 $ / shares shares
RSUs Outstanding
Restricted shares, beginning balance (in shares) \| shares	441
Restricted shares, granted (in shares) \| shares	234
Restricted shares, performance award (in shares) \| shares	0
Restricted shares, released (in shares) \| shares	(189)
Restricted shares, canceled/forfeited (in shares) \| shares	0
Restricted shares, ending balance (in shares) \| shares	486
Vested and expected to vest shares (in shares) \| shares	490
Weighted-Average Grant Date Fair Value
Weighted average grant date fair value, beginning balance (in dollars per share) \| $ / shares	$ 5.37
Weighted average grant date fair value, granted (in dollars per share) \| $ / shares	11.33
Weighted average grant date fair value, performance awards (in dollars per share) \| $ / shares	4.03
Weighted average grant date fair value, released (in dollars per share) \| $ / shares	4.84
Weighted average grant date fair value, canceled/forfeited (in dollars per share) \| $ / shares	0
Weighted average grant date fair value, ending balance (in dollars per share) \| $ / shares	8.44
Weighted average grant date fair value, vested and expected to vest (in dollars per share) \| $ / shares	$ 8.42

Segment Information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Information

The Company’s CODM is the Chief Executive Officer. The Company views its operations and manages its business as a single reportable operating segment. Segment revenue is primarily generated from the performance of various real estate services through the asset and property management contracts entered into with customers.

The CODM evaluates segment performance and decides how to allocate resources primarily based on the Company’s consolidated net income results, as reported in the Company's consolidated statements of operations as "net income (loss)." The measure of segment assets is reported on the Company's consolidated balance sheets as "total assets."

The financial information reviewed by the CODM includes the following disaggregation of operating expenses for the Company's single reportable operating segment (in thousands):


	Three Months Ended March 31,
		2026		2025
Asset management and corporate operating expenses		$	7,960	$	5,909
Commercial operating expenses		1,106		1,105
Residential operating expenses		1,515		1,309
ParkX operating expenses		4,707		2,248
Stock compensation		546		251
Depreciation and amortization		72		80
Total operating costs and expenses		$	15,906	$	10,902

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Reporting Information

The financial information reviewed by the CODM includes the following disaggregation of operating expenses for the Company's single reportable operating segment (in thousands):


	Three Months Ended March 31,
		2026		2025
Asset management and corporate operating expenses		$	7,960	$	5,909
Commercial operating expenses		1,106		1,105
Residential operating expenses		1,515		1,309
ParkX operating expenses		4,707		2,248
Stock compensation		546		251
Depreciation and amortization		72		80
Total operating costs and expenses		$	15,906	$	10,902

Debt	3 Months Ended
Debt	Mar. 31, 2026
Debt Disclosure [Abstract]
Debt	DebtIn March 2025, the Company entered into a five-year Revolving Capital Line of Credit Agreement with CP, pursuant to which the Company secured a $10.0 million capital line of credit with a variable interest rate of the Wall Street Journal Prime Rate plus 1.00% per annum that is scheduled to expire in March 2030 (the “Credit Facility”). As of March 31, 2026, the full balance of the Credit Facility remained available for use and the Company had no outstanding debt or financing arrangements for which future payments are due.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Related Party Transactions - Schedule of Market Rate Fee (Details) - 2022 Amended Asset Management Agreement - Related party - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2022	Dec. 31, 2022
Asset Management Fee
Related Party Transaction [Line Items]
Percentage of anchor portfolio revenue		2.50%
Entitlement Fee
Related Party Transaction [Line Items]
Percentage of re-zoning costs		15.00%
Development and Construction Fee
Related Party Transaction [Line Items]
Percentage of development costs		5.00%
Property Management Fee
Related Party Transaction [Line Items]
Percentage of anchor portfolio revenue		1.00%
Acquisition Fee \| Asset Management Agreement
Related Party Transaction [Line Items]
Asset acquisition, price of acquisition, expected	$ 50
Acquisition Fee \| Minimum
Related Party Transaction [Line Items]
Percentage of purchase price		1.00%
Acquisition Fee \| Maximum
Related Party Transaction [Line Items]
Percentage of purchase price		0.50%
Disposition Fee \| Asset Management Agreement
Related Party Transaction [Line Items]
Asset acquisition, price of acquisition, expected	$ 50
Disposition Fee \| Minimum
Related Party Transaction [Line Items]
Percentage sales price		1.00%
Disposition Fee \| Maximum
Related Party Transaction [Line Items]
Percentage sales price		0.50%

Segment Information - Narrative (Details)	3 Months Ended
Segment Information - Narrative (Details)	Mar. 31, 2026 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of Reportable Segments	1

Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Stock compensation	$ 500	$ 300
Depreciation and amortization	72	80
Total operating costs and expenses	15,906	10,902
Reportable Segment
Segment Reporting Information [Line Items]
Stock compensation	546	251
Depreciation and amortization	72	80
Total operating costs and expenses	15,906	10,902
Reportable Segment \| Asset management and corporate operating expenses
Segment Reporting Information [Line Items]
Operating expenses	7,960	5,909
Reportable Segment \| Commercial operating expenses
Segment Reporting Information [Line Items]
Operating expenses	1,106	1,105
Reportable Segment \| Residential operating expenses
Segment Reporting Information [Line Items]
Operating expenses	1,515	1,309
Reportable Segment \| ParkX operating expenses
Segment Reporting Information [Line Items]
Operating expenses	$ 4,707	$ 2,248

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 19,631	$ 31,282
Prepaid expenses and other current assets	1,004	2,018
Total current assets	43,586	53,266
Fixed assets, net	611	674
Intangible assets	144	144
Leasehold improvements, net	22	30
Investments in real estate ventures	10,560	5,953
Equity investments	1,935	0
Operating lease assets	4,767	5,002
Deferred income taxes, net	18,695	18,894
Deferred compensation plan assets	1,179	897
Other assets	187	102
Total assets	81,686	84,962
Current liabilities:
Accrued personnel costs	2,459	7,839
Accounts payable and accrued liabilities	1,111	847
Current operating lease liabilities	1,000	994
Total current liabilities	4,570	9,680
Deferred compensation plan liabilities	1,203	960
Operating lease liabilities	4,103	4,356
Total liabilities	9,876	14,996
Commitments and contingencies (Note 7)
Stockholders' equity:
Additional paid-in capital	203,100	203,246
Treasury stock, at cost (86 shares of Class A common stock)	(2,662)	(2,662)
Accumulated deficit	(128,730)	(130,719)
Total stockholders' equity	71,810	69,966
Total liabilities and stockholders' equity	81,686	84,962
Nonrelated Party
Current assets:
Accounts receivable	1,215	829
Related party
Current assets:
Accounts receivable	21,736	19,137
Common Class A
Stockholders' equity:
Common stock	100	99
Common Class B
Stockholders' equity:
Common stock	$ 2	$ 2

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Revenue	$ 17,446	$ 12,639
Operating costs and expenses:
Cost of revenue	14,671	10,287
Selling, general, and administrative	1,163	535
Depreciation and amortization	72	80
Total operating costs and expenses	15,906	10,902
Income (loss) from operations	1,540	1,737
Other income (expense):
Interest income	129	184
Gain (loss) on real estate ventures	72	9
Gain (loss) on equity investments	435	0
Other income (expense), net	12	(18)
Income (loss) from operations before income tax	2,188	1,912
Provision for (benefit from) income tax	199	323
Net income (loss)	$ 1,989	$ 1,589
Weighted-average common stock outstanding:
Basic - weighted-average common stock outstanding (in shares)	10,204	10,033
Diluted - weighted-average common stock outstanding (in shares)	10,493	10,367
Net income (loss) per share:
Basic - net income (loss) per share (in dollars per share)	$ 0.19	$ 0.16
Diluted - net income (loss) per share (in dollars per share)	$ 0.19	$ 0.15

Stockholders' Equity

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Stockholders' Equity

Common Stock

The Company's certificate of incorporation authorizes the issuance of Class A common stock and Class B common stock, each with a par value of $0.01 per share. Holders of Class A common stock and Class B common stock are entitled to dividends when, as and if, declared by the Company's board of directors, subject to the rights of the holders of all classes of stock outstanding having priority rights to dividends. Holders of Class A common stock are entitled to one vote per share and holders of Class B common stock are entitled to fifteen votes per share. Shares of Class B common stock are convertible into an equivalent number of shares of our Class A common stock upon transfer. As of March 31, 2026, the Company had not declared any dividends.

Stock-based Compensation

On February 12, 2019, the Company approved the 2019 Omnibus Incentive Plan (the “2019 Plan”), which replaced the 2004 Long-Term Compensation Plan (the “2004 Plan”). The 2019 Plan provides for the issuance of stock options, stock appreciation rights ("SARs"), restricted stock, restricted stock units, dividend equivalents, performance awards, and stock or other stock-based awards. The 2019 Plan mandates that all lapsed, forfeited, expired, terminated, cancelled and withheld shares, including those from the predecessor plan, be returned to the 2019 Plan and made available for issuance. The 2019 Plan originally authorized 2.5 million shares of the Company's Class A common stock for issuance. As of March 31, 2026, there were 1.1 million shares of Class A common stock available for issuance under the 2019 Plan.

During the three months ended March 31, 2026 and 2025, the Company recorded stock-based compensation expense of $0.5 million and $0.3 million, respectively. Stock-based compensation costs are included in selling, general, and administrative expense on the Company's consolidated statements of operations. As of March 31, 2026, there was $3.0 million of total unrecognized stock-based compensation, which is expected to be recognized over a weighted-average period of 2.3 years.

Restricted Stock Units

Restricted stock unit (“RSU”) awards granted to employees are subject to continued employment and generally vest in four annual installments over the four-year period following the grant dates. The Company also grants certain RSU awards to management that contain additional vesting conditions tied directly to a defined performance metric for the Company (“PSUs”). The actual number of PSUs that will vest can range from 60% to 120% of the original grant target amount, depending upon actual Company performance below or above the established performance metric targets. The Company estimates performance in relation to the defined targets when calculating the related stock-based compensation expense.

The following table summarizes all restricted stock unit activity (in thousands, except per share data):


		RSUs Outstanding	Weighted-Average Grant Date Fair Value
	Balance as of December 31, 2025	441	$	5.37
	Granted	234	11.33
	Performance awards(1)	—	4.03
	Released	(189)	4.84
	Canceled/Forfeited	—	—
	Balance as of March 31, 2026	486	$	8.44
	Vested and expected to vest after March 31, 2026	490	$	8.42


(1)	Represents additional restricted stock units that vested and were released as a result of the satisfaction of a performance vesting condition.

The total intrinsic value of RSUs that vested during the three months ended March 31, 2026 and 2025 was $2.3 million and $1.6 million, respectively.

Stock Options

Non-qualified stock options generally expire 10 years after the grant date and, except under certain conditions, the options are subject to continued employment and vest in four annual installments over the four-year period following the grant dates.

The following table summarizes all stock option activity (in thousands, except per share data and time periods):


	Options Outstanding	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Balance as of December 31, 2025	50	$	3.30	2.5	$	416
Granted	—	—
Exercised	(30)	3.30
Canceled/Forfeited	—	—
Expired	—	—
Balance as of March 31, 2026	20	$	3.30	2.2	$	313
Exercisable as of March 31, 2026	20	$	3.30	2.2	$	313

The total intrinsic value of stock options exercised during the three months ended March 31, 2026 and 2025 was $0.4 million and $0.2 million, respectively.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company maintains certain non-cancelable operating leases that contain various renewal options. (See Note 5 for additional information). The Company is subject to litigation from time to time in the ordinary course of business; however, the Company does not expect the results, if any, to have a material adverse impact on its results of operations, financial position, or liquidity. The Company records a contingent liability when it is both probable that a liability has been incurred and the amount can be reasonably estimated; however, the Company is not aware of any reasonably possible losses that would have a material impact on its results of operations, financial position, or liquidity. The Company expenses legal defense costs as they are incurred.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Leases - Schedule of Lease Cost and Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Lease, Cost [Abstract]
Fixed lease costs	$ 297	$ 297
Variable lease costs	91	97
Total operating lease costs	$ 388	$ 394

Investments in Real Estate Ventures - Narrative (Detail) $ in Thousands	1 Months Ended					3 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2023 USD ($) ft² unit	Mar. 31, 2022 ft² unit parkingSpace	Oct. 31, 2021 ft² unit	Dec. 31, 2019 ft²	Mar. 31, 2026 USD ($)	Mar. 31, 2025 USD ($)	Feb. 29, 2020 USD ($)
Schedule of Equity Method Investments [Line Items]
Revenue						$ 17,446	$ 12,639
Investment program, proportional amortization method, elected, equity method investment, income (loss) from tax credit investment	$ 1,600
The Hartford
Schedule of Equity Method Investments [Line Items]
Number of square foot \| ft²					211,000
Maximum borrowing capacity								$ 87,000
Revenue						300	300
BLVD Forty Four
Schedule of Equity Method Investments [Line Items]
Number of square foot \| ft²				16,000
Revenue						400	400
Number of units in property \| unit				263
BLVD Ansel
Schedule of Equity Method Investments [Line Items]
Number of square foot \| ft²			20,000
Revenue						400	300
Number of units in property \| unit			250
Number of parking spaces \| parkingSpace			611
The Reed
Schedule of Equity Method Investments [Line Items]
Revenue						$ 600
Ownership %						9.00%
Number of units in property \| unit			417
Acquisition fee earned						$ 500
Comstock 41
Schedule of Equity Method Investments [Line Items]
Number of square foot acquired \| ft²		18,150
Payments to acquire real estate		$ 1,500
Number of dwelling units \| unit		117
Square footage of retail space \| ft²		11,000
Superior Title Services, Inc.
Schedule of Equity Method Investments [Line Items]
Profit (loss) from real estate operations						$ 100	$ 0

Leases

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Leases

The Company has operating leases for office space leased in various buildings for its own use. The Company's leases typically have terms ranging from 5 to 10 years. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Lease costs related to the Company's operating leases are primarily reflected in "cost of revenue" in the consolidated statements of operations, as they are a reimbursable cost under the Company's respective asset management agreements. (See Note 13 for additional information).

The following table summarizes operating lease costs by type (in thousands):


	Three Months Ended March 31,
		2026		2025
Operating lease costs
Fixed lease costs		$	297	$	297
Variable lease costs		91		97
Total operating lease costs		$	388	$	394

The following table presents supplemental cash flow information related to the Company's operating leases (in thousands):


	Three Months Ended March 31,
		2026		2025
Cash paid for lease liabilities:
Operating cash flows from operating leases		$	398	$	396

As of March 31, 2026, the Company's operating leases had a weighted-average remaining lease term of 4.6 years and a weighted-average discount rate of 4.65%.

The following table summarizes future lease payments (in thousands):


Year Ending December 31,	Operating Leases
2026 (9 months)	$	914
2027	1,204
2028	1,233
2029	1,262
2030	1,073
Thereafter	—
Total future lease payments	5,686
Imputed interest	(583)
Total lease liabilities	$	5,103

As of March 31, 2026

Company Overview	3 Months Ended
Company Overview	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Overview	Company Overview Comstock Holding Companies, Inc. ("Comstock" or the "Company"), founded in 1985 and incorporated in the state of Delaware in 2004, is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region. The Company operates through four primarily real estate-focused subsidiaries – CHCI Asset Management, LC (“CAM”); CHCI Residential Management, LC; CHCI Commercial Management, LC; and ParkX Management, LC.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Operating Activities
Net income (loss)	$ 1,989	$ 1,589
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	72	80
Stock-based compensation	546	251
(Gain) loss on real estate ventures	(72)	(9)
Gain (loss) on equity investments	(435)	0
Deferred income taxes	199	323
Accrued interest income	(40)	(65)
(Gain) loss on deferred compensation plan	(8)	5
Changes in operating assets and liabilities:
Accounts receivable	(2,985)	1,690
Prepaid expenses and other current assets	(193)	(167)
Accrued personnel costs	(5,373)	(3,717)
Accounts payable and accrued liabilities	264	310
Deferred compensation plan liabilities	270	254
Other assets and liabilities	(11)	(1)
Net cash provided by (used in) operating activities	(5,777)	543
Investing Activities
Capitalized expenses for real estate ventures	(3,374)	(7)
Distributions from real estate ventures	0	1
Equity investments	(1,500)	0
Purchase of deferred compensation plan securities	(365)	(346)
Proceeds from sales of deferred compensation plan securities	57	0
Purchase of fixed assets	1	163
Net cash provided by (used in) investing activities	(5,183)	(515)
Financing Activities
Proceeds from issuance of common stock related to equity awards	99	86
Payment of taxes related to the net share settlement of equity awards	(790)	(578)
Net cash provided by (used in) financing activities	(691)	(492)
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Excluding Exchange Rate Effect, Including Discontinued Operation, Total	(11,651)	(464)
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation, Beginning Balance	31,282	28,761
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation, Ending Balance	19,631	28,297
Supplemental Cash Flow Information
Income taxes	156	188
Income Taxes Paid, Net	$ 0	$ 0

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2026	Dec. 31, 2025
Treasury stock (in shares)	86	86
Common Class A
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	59,780	59,780
Common stock, shares issued (in shares)	10,125	9,958
Common stock, shares outstanding (in shares)	10,039	9,872
Common Class B
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	220	220
Common stock, shares issued (in shares)	220	220
Common stock, shares outstanding (in shares)	220	220

Revenue (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Summary of Revenues from Contracts with Customers Disaggregated by Categories

The following tables summarize the Company’s revenue by line of business, customer type, and contract fee type (in thousands):


		Three Months Ended March 31,
			2026		2025
	Revenue by Line of Business
	Asset management		$	8,756	$	7,127
	Property management (1)		3,424		2,958
	ParkX management		5,266		2,554
	Total revenue		$	17,446	$	12,639


(1)	CHCI Commercial and CHCI Residential


	Three Months Ended March 31,
		2026		2025
Revenue by Customer Type
Related party		$	15,448	$	11,452
Third party		1,998		1,187
Total revenue		$	17,446	$	12,639


	Three Months Ended March 31,
		2026		2025
Revenue by Timing
Recurring/over time		$	15,737	$	11,559
Point-in-time		1,709		1,080
Total revenue		$	17,446	$	12,639


		Three Months Ended March 31,
			2026		2025
	Revenue by Contract Fee Type (1)
	Cost recovery(2)		$	11,083	$	8,624
	Variable(3)		3,376		2,651
	Fixed fee(4)		2,987		1,364
	Total revenue		$	17,446	$	12,639


(1)	Certain contracts contain multiple revenue streams that lend to classification in more than one category.
(2)	Includes cost plus revenues tied to asset management services under the 2022 AMA and revenue earned from reimbursable expenses.
(3)	Includes fixed rate contract amounts applied to various variable metrics to determine the amount of revenue earned.
(4)	Includes fixed fee arrangements where the dollar value of the revenue earned remains consistent over time.

Fair Value Measures (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table summarizes assets and liabilities measured at fair value on a recurring basis:


	Fair Value Measurements
	Amount		Level 1		Level 2		Level 3
3/31/2026
Investments in real estate ventures	$	8,892	$	—	$	—	$	8,892
Deferred compensation plan assets	1,179		1,179		—		—
Equity investments
Variable voting shares - Jericho	1,658		1,658		—		—
Stock warrants - Jericho	276		—		276		—
Deferred compensation plan liabilities	1,203		1,203		—		—

12/31/2025
Investments in real estate ventures	$	4,288	$	—	$	—	$	4,288
Deferred compensation plan assets	897		897		—		—
Deferred compensation plan liabilities	960		960		—		—

Fair Value Measurement Inputs and Valuation Techniques

The following table summarizes information about the significant unobservable inputs used in recurring fair value measurements categorized within Level 3:

Amount

Valuation
Technique(s)

Unobservable
Input(s)

Range (Wtd. Avg.)(1)

3/31/2026

Investments in real estate ventures

8,892

Income approach

Capitalization rate

5.25% - 7.45% (5.63%)

Discount rate

7.10% - 8.50% (7.28%)

12/31/2025

Investments in real estate ventures

4,288

Income approach

Capitalization rate

5.25% - 7.45% (5.63%)

Discount rate

7.05% - 8.50% (7.23%)

(1)

Range represents to lowest and highest iteration of the input used across all valuation models. Weighted averages were calculated using the relative fair value of the instruments

Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

The following table summarizes the calculation of basic and diluted net income per share (in thousands, except per share data):


	Three Months Ended March 31,
		2026		2025
Numerator:
Net income (loss) - Basic and Diluted		$	1,989	$	1,589

Denominator:
Weighted-average common shares outstanding - Basic		10,204		10,033
Effect of common share equivalents		289		334
Weighted-average common shares outstanding - Diluted		10,493		10,367

Net income (loss) per share:
Basic		$	0.19	$	0.16
Diluted		$	0.19	$	0.15

The Company had no common share equivalents that were excluded from the computation of diluted net income (loss) per share for the three months ended March 31, 2026 and 2025 because their effect was anti-dilutive

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Company's Restricted Share Activity

The following table summarizes all restricted stock unit activity (in thousands, except per share data):


		RSUs Outstanding	Weighted-Average Grant Date Fair Value
	Balance as of December 31, 2025	441	$	5.37
	Granted	234	11.33
	Performance awards(1)	—	4.03
	Released	(189)	4.84
	Canceled/Forfeited	—	—
	Balance as of March 31, 2026	486	$	8.44
	Vested and expected to vest after March 31, 2026	490	$	8.42


(1)	Represents additional restricted stock units that vested and were released as a result of the satisfaction of a performance vesting condition.

Summary Information about Stock Option Activity

The following table summarizes all stock option activity (in thousands, except per share data and time periods):


	Options Outstanding	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Balance as of December 31, 2025	50	$	3.30	2.5	$	416
Granted	—	—
Exercised	(30)	3.30
Canceled/Forfeited	—	—
Expired	—	—
Balance as of March 31, 2026	20	$	3.30	2.2	$	313
Exercisable as of March 31, 2026	20	$	3.30	2.2	$	313

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	APIC	Treasury Stock	Accumulated deficit	Common Class A	Common Class A Common Stock	Common Class B	Common Class B Common Stock
Beginning balance (in shares) at Dec. 31, 2024						9,774		220
Beginning balance at Dec. 31, 2024	$ 52,369	$ 202,702	$ (2,662)	$ (147,770)		$ 97		$ 2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of shares withheld for taxes ( in shares)						156
Issuance of common stock, net of shares withheld for taxes	(492)	(493)				$ 1
Stock-based compensation (in shares)						4
Stock-based compensation	251	251
Net income (loss)	1,589			1,589
Ending balance (in shares) at Mar. 31, 2025						9,934		220
Ending balance at Mar. 31, 2025	53,717	202,460	(2,662)	(146,181)		$ 98		$ 2
Beginning balance (in shares) at Dec. 31, 2025					9,872	9,958	220	220
Beginning balance at Dec. 31, 2025	69,966	203,246	(2,662)	(130,719)		$ 99		$ 2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of shares withheld for taxes ( in shares)						155
Issuance of common stock, net of shares withheld for taxes	(691)	(692)				$ 1
Stock-based compensation (in shares)						12
Stock-based compensation	546	546
Net income (loss)	1,989			1,989
Ending balance (in shares) at Mar. 31, 2026					10,039	10,125	220	220
Ending balance at Mar. 31, 2026	$ 71,810	$ 203,100	$ (2,662)	$ (128,730)		$ 100		$ 2

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(2))
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+ Details

- Definition

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Investments in Real Estate Ventures - Schedule of Equity Method Investments, Group of Investment Consolidated Balance Sheet at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Schedule of Equity Method Investments [Line Items]
Total investments in real estate ventures	$ 10,560	$ 5,953
Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Total investments in real estate ventures	$ 8,892	4,288
Investors X \| Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership %	50.00%
Total investments in real estate ventures	$ 116	113
The Hartford \| Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership %	2.50%
Total investments in real estate ventures	$ 460	459
BLVD Forty Four \| Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership %	5.00%
Total investments in real estate ventures	$ 1,691	1,744
BLVD Ansel \| Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership %	5.00%
Total investments in real estate ventures	$ 2,007	1,972
The Reed
Schedule of Equity Method Investments [Line Items]
Ownership %	9.00%
The Reed \| Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership %	9.00%
Total investments in real estate ventures	$ 4,618	0
Comstock 41 \| Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Ownership %	100.00%
Total investments in real estate ventures	$ 1,668	$ 1,665

Subsequent Events - Additional Information (Details) $ in Thousands	1 Months Ended
	Apr. 30, 2026 USD ($) ft² a	Mar. 31, 2026 USD ($)	Dec. 31, 2025 USD ($)
Subsequent Event [Line Items]
Total investments in real estate ventures		$ 10,560	$ 5,953
Subsequent Events \| Peraton
Subsequent Event [Line Items]
Acquired acreage \| a	6.77
Number of square foot acquired \| ft²	185,000
Total investments in real estate ventures	$ 5,000
Number of new build square foot \| ft²	100,000
Number of square foot \| ft²	300,000
Acquisition fee earned	$ 800
Leasing fees	$ 3,300

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2026
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In April 2026, the Company entered into a joint venture with CP and Peraton Holding Corp. ("Peraton") to acquire Woodland Pointe, a 6.77-acre office campus that includes a six-story, 185,000-square foot, Class A office tower and is located in Herndon, Virginia. The Company's initial investment in the joint venture that acquired the property was approximately $5.0 million. Concurrent with the acquisition, Comstock entered into multiple leases at Woodland Pointe with Peraton. The leases cover both the existing office building, which is currently a Peraton lease location, as well as a new 100,000-square foot, build-to-suit office building that will be developed on the Woodland Point campus. Upon completion, Peraton will fully occupy both structures in the near 300,000-square foot campus. The Company will provide asset management and property management services pursuant to separate agreements through its wholly owned operating subsidiaries CHCI Asset Management, LC and CHCI Commercial Management, LC. Pursuant to the asset management agreement, the Company earned an acquisition fee of $0.8 million and leasing fees of approximately $3.3 million at closing. The Company is also entitled to ongoing construction management and development fees for services that will be provided pursuant to the executed leases with Peraton, as tenant, to construct a build-to-suit office campus.