New York City REIT ( (NYC) ) has provided an update.
On March 19, 2025, American Strategic Investment Co. held an earnings call to discuss its financial results for the fourth quarter and full year of 2024. The company reported a revenue of $61.6 million for the year, a slight decrease from 2023, and a net loss of $140.6 million. The company completed the sale of 9 Times Square for $63.5 million, which improved its cash position and balance sheet leverage. It is also marketing additional properties for sale as part of its diversification strategy. The company is focused on securing tenants in resilient industries and has made progress in leasing efforts, securing five new leases in 2024. Michael Anderson announced his resignation as CEO, with Nick Schorsch, Jr. set to succeed him.
More about New York City REIT
American Strategic Investment Co. operates in the real estate industry, focusing primarily on managing and leasing office properties in New York City. The company’s portfolio consists of six real estate assets, mainly located in Manhattan, with a significant portion of its tenants being investment-grade entities such as City National Bank and CVS.
YTD Price Performance: 14.06%
Average Trading Volume: 6,510
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $25.33M
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