American Strategic Investment Co.

Listed Company

NYCCIK 0001595527NYSENon-AcceleratedSmaller ReportingReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

—

Total Assets

$445.16M

Equity

$64.76M

Shares Out

2.69M

Op. Cash Flow

$-7.75M

Business

American Strategic Investment Co. is an externally managed company that owns and manages a portfolio of commercial real estate focused on office properties and related assets in New York City, primarily Manhattan. It offers ownership and operation of office buildings and accompanying real estate assets, including retail spaces, amenities and parking, and pursues investments in other property types, real estate debt and equity interests. Its operations are conducted through an operating partnership and managed day-to-day by an external advisor and a property manager. Its assets and investment activities are concentrated in the five boroughs of New York City, with the ability to acquire assets or make investments outside the city and through joint ventures or debt instruments.

Summary from filing dated 2025-03-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue from tenants	43	62	63	64	70
Asset and property management fees to related parties	7	8	8	7	8
Property operating	27	34	34	34	33
Impairment of real estate investments	31	113	67	0	1
Equity-based compensation	364,000	408,000	6	9	8
General and administrative	8	9	9	12	9
Depreciation and amortization	13	18	27	29	31
Total operating expenses	87	183	150	91	91
Operating loss before gain (loss) on disposition of real estate investments	−43	−121	−87	−27	—
Gain (loss) on disposal of real estate investments	48	−276,000	0	—	—
Operating gain (loss)	4	−121	−87	−27	−20
Interest expense	−15	−19	−19	−19	—
Interest expense associated with property in receivership	−10	0	0	—	—
Other income	6,000	112,000	36,000	−27,000	47,000
Total other expenses	−26	−19	−19	−19	−19
Net loss before income taxes	−21	−141	−106	−46	−39
Income tax expense	0	0	0	0	−37,000
Net loss and Net loss attributable to common stockholders	−21	−141	−106	−46	−39
Change in unrealized gain/(loss) on derivative	0	−406,000	−1	3	2
Comprehensive loss	−21	−141	−107	−43	−38
Weighted average common shares outstanding basic (in shares)	3	2	2	2	2
Weighted average common shares outstanding diluted (in shares)	3	2	2	2	2
Net loss per common share attributable to common stockholders basic (in dollars per share)	−8.32	−56.51	−47.57	−26.59	−24.42
Net loss per common share attributable to common stockholders diluted (In dollars per share)	−8.32	−56.51	−47.57	−26.59	−24.42

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2022 2022-09-30
Land	114	130	189	193	—
Buildings and improvements	268	341	479	577	—
Acquired intangible assets	5	19	57	—	—
Total real estate investments, at cost	388	490	725	841	—
Less accumulated depreciation and amortization	−81	−91	−145	−168	—
Total real estate investments, net	307	399	580	673	—
Cash and cash equivalents	1	10	5	9	—
Restricted cash	7	9	8	7	3
Contract asset	109	0	0	—	—
Operating lease right-of-use asset	0	55	55	55	—
Prepaid expenses and other assets	3	5	6	6	—
Straight-line rent receivable	15	23	31	29	—
Deferred leasing costs, net	2	7	9	10	—
Total assets	445	507	694	790	—
Mortgage notes payable, net	250	347	396	394	—
Debt associated with property in receivership	99	0	0	—	—
Accrued interest associated with property in receivership	10	0	0	—	—
Accounts payable, accrued expenses and other liabilities (including amounts due to/(from) related parties of $(280) and $317 at December 31, 2025 and 2024, respectively)	19	15	13	13	—
Note payable to related parties	650,000	0	—	—	—
Operating lease liability	0	55	55	55	—
Below-market lease liabilities, net	708,000	1	2	3	—
Deferred revenue	2	3	4	4	—
Total liabilities	380	421	469	469	—
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued and outstanding at December 31, 2025 and 2024	0	0	0	0	—
Common stock, $0.01 par value, 300,000,000 shares authorized, 2,692,941 and 2,634,355 shares issued and outstanding as of December 31, 2025 and 2024, respectively	27,000	27,000	23,000	19,000	—
Additional paid-in capital	732	731	730	699	—
Accumulated other comprehensive income	0	0	406,000	2	—
Distributions in excess of accumulated earnings	−667	−646	−505	−399	—
Total stockholders equity	65	86	225	301	—
Total liabilities and equity	445	507	694	790	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−21	−141	−106	−46	−39
Amortization of deferred financing costs	1	1	2	2	2
Accretion of below- and amortization of above-market lease liabilities and assets, net	−300,000	−476,000	−70,000	−8,000	−9
Common stock issued to the Advisor in connection with Advisor related fees	0	2	485,000	5	0
(Gain)/loss on dispositions of real estate	−48	276,000	0	0	—
Straight-line rent receivable	−606,000	869,000	−2	−3	−4
Straight-line rent payable	−188,000	109,000	109,000	110,000	109,000
Prepaid expenses, other assets and deferred costs	2	238,000	−2	1	843,000
Accounts payable, accrued expenses and other liabilities	16	2	871,000	4	−111,000
Deferred revenue	196,000	−942,000	−228,000	−909,000	562,000
Net cash used in operating activities	−8	−4	−7	−486,000	−8
Capital expenditures	−757,000	−1	−4	−6	−3
Net proceeds from sale of real estate investments	0	61	4	0	0
Reduction of cash from derecognition of assets	−3	0	0	—	—
Net cash provided by (used in) investing activities	−4	60	71,000	−6	−3
Proceeds from Rights Offering, net (see Note 9)	0	0	4	0	0
Redemption of fractional shares of common stock and restricted shares	0	0	−24,000	0	0
Common stock shares withheld upon vesting of restricted shares	0	0	−10,000	0	0
Repurchases of common stock	0	−231,000	0	0	−183,000
Net cash provided by (used in) financing activities	650,000	−50	4	−6	−275,000
Net change in cash, cash equivalents and restricted cash	−11	6	−3	−12	−12
Cash paid for interest	11	18	17	17	18
Common stock issued to the Advisor in connection with management fees (see Note 9)	0	2	485,000	5	0
Net change in accrued capital expenditures for the period	0	−42,000	−683,000	780,000	1
Derecognition of property in receivership	57	0	0	—	—

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