Tide turning?

I've been pretty bearish for a while given aggressive accounting, related party transactions and extreme leverage levels. However the fundamentals from here look ok.
Debt refinancing is done, Board and CEO are finally pivoting towards capital market opportunities, underlying asset value finally looks realistic, negative FCF has been improving and the most material new information for me is that the Brooklyn housing market is currently on fire. This is meaningful as it shores up their balance sheet, increases the probabilities of reducing expensive debt and changes market sentiment if the market sees NTA stabilise. The main question is whether the Board and Management are aligned enough to take advantage of this hot housing market more so than selling the piddly $5-7m per month they have been.
Biggest question for me remains Evans Dixon incentives, alignment and (dis)regard for its shareholder base. The investment merits have certainly improved with the Brooklyn markets price movements but the question for me is what is an appropriate governance discount for all the sins of the past?