New York City REIT ( (NYC) ) just unveiled an update.
American Strategic Investment Co., through its subsidiary ARCNYC570SEVENTH, LLC, has completed the sale of its 9 Times Square property in Midtown Manhattan to 9 Times Square Acquisitions, LLC for $63.5 million. The sale follows significant impairment charges recorded earlier in the year, with the company repaying a $49.5 million mortgage and incurring minimal closing costs. This transaction reflects a strategic move to adjust the company’s asset portfolio, potentially impacting its financial standing and operations.
More about New York City REIT
YTD Price Performance: 10.66%
Average Trading Volume: 3,562
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $23.5M
For detailed information about NYC stock, go to TipRanks’ Stock Analysis page.