BRT Apartments : Quarter Ended March 31, 2021

SUPPLEMENTAL FINANCIAL INFORMATION FOR Q1 2021

May 6, 2021

60 Cutter Mill Rd., Great Neck, NY 11021

FORWARD LOOKING STATEMENTS

The information set forth herein contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provision for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words "may", "will", "believe", "expect", "intend", "anticipate", "estimate", "project", or similar expressions or variations thereof. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could materially affect actual results, performance or achievements. Investors are cautioned not to place undue reliance on any forward-looking statements and are urged to read the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2020 and in reports filed with the SEC thereafter, including our Quarterly Report on Form 10-Q for the period ended March 31, 2021, that we anticipate will be filed shortly following the furnishing of this document.

The Company undertakes no obligation to update or revise the information herein, whether as a result of new information, future events or circumstances, or otherwise.

Units under rehabilitation for which we have received or accrued rental income from business interruption insurance, while not physically occupied, are treated as leased (i.e., occupied) at rental rates in effect at the time of the casualty.

We use pro rata (as defined under "Non-GAAP Financial Measures and Definitions") to help the reader gain a better understanding of our unconsolidated joint ventures. However, the use of pro rata information has certain limitations and is not representative of our operations and accounts as presented in accordance with GAAP. Accordingly, pro rata information should be used with caution and in conjunction with the GAAP data presented herein and in our reports filed with the SEC.

Table of Contents	Page Number
Financial Highlights	1
Operating Results	2
Operating Results of Unconsolidated Properties	3
Funds From Operations	4
Consolidated Balance Sheets	5
Balance Sheets of Unconsolidated Joint Venture	6
Entities
Portfolio Data by State	7
Same Store Comparison - Consolidated	8
Same Store Comparison - Unconsolidated	9
Portfolio Data Combined	10
Value-Add Information and Capital	11
Expenditures
Debt Analysis	12
Non-GAAP Financial Measures, Definitions,	13-15
and Reconciliations
Portfolio Table	16

BRT Apartments Corp. (NYSE: BRT)

Financial Highlights

_________________________________________________________________________________________________________

			As at March 31,
			2021			2020
Market capitalization (thousands)	$	296,098		$	176,054
Shares outstanding (thousands)			17,583			17,176
Closing share price	$	16.84		$	10.25
Quarterly dividend declared per share	$	0.22		$	0.22
Multi-family properties owned			39			39
Units			11,042	(1)		11,042	(1)
Average occupancy (2)			93.6	%		92.4	%
Average monthly rental revenue per occupied unit (2)	$	1,113		$	1,096
			Quarter ended March 31,
Per share data			2021			2020
	(Unaudited)		(Unaudited)
(Loss) per share basic and diluted	$	(0.22)		$	(0.29)
FFO per diluted share of common stock (3)			0.35			0.19
AFFO per diluted share of common stock (3)	$	0.30		$	0.23

1. For 2020 and 2021, includes 1,880 units owned by consolidated subsidiaries and 9,162 units owned by unconsolidated subsidiaries. Unconsolidated for 2020 includes 741 units in lease-up.
2. For the period presented, average reflects stabilized properties and includes consolidated and unconsolidated assets.

See definition of stabilized properties under "Non-GAAP Financial Measures and Definitions."

(3) See the reconciliation of Funds From Operations, or FFO, and Adjusted Funds From Operations, or AFFO, to net income,

as calculated in accordance with GAAP, and the definitions of such terms under "Non-GAAP Financial Measures and Definitions."

1

BRT Apartments Corp. (NYSE: BRT)

Operating Results (dollars in thousands except per share data)

_____________________________________________________________________________________________________________________

		Three Months Ended March 31,
		2021			2020
Revenues:
Rental and other revenue from real estate properties	$	7,095	$	6,745
Other income		4			179
Total revenues		7,099			6,924
Expenses:
Real estate operating expenses		3,117			3,058
Interest expense		1,660			1,860
General and administrative		3,114			3,367
Depreciation		1,537			1,561
Total expenses		9,428			9,846
Total revenues less total expenses		(2,329)			(2,922)
Equity in loss of unconsolidated joint ventures		(1,345)			(1,815)
Loss from continuing operations		(3,674)			(4,737)
Income tax provision		57			62
Net loss from continuing operations, net of taxes		(3,731)			(4,799)
Net income attributable to non-controlling interests		(34)			(32)
Net loss attributable to common stockholders	$	(3,765)	$	(4,831)
Weighted average number of shares of common stock outstanding:
Basic		17,319,222			16,932,252
Diluted		17,319,222			16,932,252
Per share amounts attributable to common stockholders:
Basic	$	(0.22)		$	(0.29)
Diluted
$	(0.22)		$	(0.29)

2