NYC · American Strategic Investment Co.

American Strategic Investment Co. reported its fourth quarter and full year 2025 results, revealing a significant year-over-year decline in revenue to $43.3 million from $61.6 million, driven primarily by the disposition of assets such as 9 Times Square and 1140 Avenue of the Americas. Despite the revenue contraction, the company's GAAP net loss attributable to common stockholders narrowed substantially to $21.2 million for the year, compared to a $140.6 million loss in the prior year. This improvement was largely attributed to a $46.6 million gain recognized in connection with the cooperative consensual foreclosure of the 1140 Avenue of the Americas property, where the company removed related assets and liabilities from its balance sheet.

Operationally, the company maintained a portfolio occupancy rate of 80.3% with a weighted average remaining lease term of 6.1 years. Management emphasized the quality of the tenant base, noting that the top ten tenants represent 69% investment grade or implied investment grade exposure. The company executed 13 new and replacement leases totaling 117,000 square feet during the year. On the balance sheet front, the company carries 100% fixed-rate debt with a prudent net leverage of 47.5% and a weighted average effective interest rate of 4.5%, though the remaining debt term is relatively short at 1.5 years.

Looking ahead, management stated they are assessing strategies for properties at 123 William Street and 196 Orchard to generate long-term value, including potential sales. The company also highlighted ongoing risks, including the ability to regain compliance with NYSE continued listing standards and potential adverse effects from geopolitical instability and inflationary conditions.