American Strategic Investment Co. NYC
We were incorporated in the State of Maryland on December 19, 2013. We are an externally managed company that owns a portfolio of commercial real estate located within the five boroughs of New York City, primarily Manhattan. Our real estate assets consist of office properties and certain real estate assets that accompany office properties, including retail spaces and amenities and parking garages that do not accompany office spaces. As of December 31, 2025, we owned five properties consisting of 0.7 million rentable square feet, which rentable square footage figure excludes one property, 1140 Avenue of Americas, which is in a consensual foreclosure process.
On December 30, 2022, we announced that we were changing our business strategy by expanding the scope of the assets and businesses we may own and operate. By investing in other asset types, we may generate income that does not otherwise constitute income that qualifies for purposes of qualifying as a real estate investment trust for United States ("U.S.") federal income tax purposes ("REIT"). As a result, on January 9, 2023, our board of directors (the "Board") authorized termination of our REIT election which became effective as of January 1, 2023. Historically, we had filed an election to be taxed as a REIT commencing with our taxable year ended December 31, 2014, which remained in effect with respect to each subsequent taxable year ending on or before the year ended December 31, 2022.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $0 | $700.0K | $800.0K | — | — | — | $62.4M | $58.4M | $47.6M |
| SG&A | $8.3M | $9.2M | $9.4M | $12.5M | $8.7M | $7.6M | $6.3M | $9.0M | $8.1M | $4.9M |
| Total operating expenses | $86.7M | $182.5M | $149.8M | $91.0M | $90.6M | $85.5M | $76.1M | $73.7M | $70.5M | $60.3M |
| Operating income | $4.4M | -$121.2M | -$87.1M | -$26.9M | -$20.4M | -$22.6M | -$5.6M | -$11.3M | -$12.1M | -$12.7M |
| Interest expense | $15.3M | $19.5M | $18.9M | $18.9M | $19.1M | $19.1M | $17.2M | $13.3M | $11.2M | $7.4M |
| Pre-tax income | -$21.2M | -$140.6M | -$105.9M | -$45.9M | -$39.4M | -$41.0M | -$21.9M | — | — | — |
| Income tax | $0 | $0 | $0 | $0 | $37.0K | $0 | $0 | — | — | — |
| Net income | -$21.2M | -$140.6M | -$105.9M | -$45.9M | -$39.5M | -$41.0M | -$21.9M | -$24.1M | -$23.1M | -$19.8M |
| EPS, basic | -8.32 | -56.51 | -47.57 | -26.59 | -24.42 | -25.67 | -1.72 | — | — | — |
| EPS, diluted | -8.32 | -56.51 | -47.57 | -26.59 | -24.42 | -25.67 | -1.72 | -1.88 | -0.74 | -0.64 |
| Shares, diluted (wtd. avg.) | 2.5M | 2.5M | 2.2M | 1.7M | 1.6M | 1.6M | 12.7M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.3M | $9.8M | $5.3M | $16.1M | $28.4M | $40.0M | $58.3M | $54.8M | $47.2M | $49.8M |
| Other intangibles | $4.1M | $5.9M | $30.2M | $35.3M | $42.2M | $50.9M | $61.5M | $66.5M | $77.0M | $91.2M |
| Total assets | $445.2M | $507.1M | $694.2M | $790.5M | $823.1M | $861.8M | $901.4M | $773.7M | $760.5M | $773.6M |
| Total liabilities | $380.4M | $421.5M | $469.4M | $468.9M | $471.9M | $480.3M | $480.8M | $330.1M | $279.0M | $233.4M |
| Retained earnings | -$667.1M | -$645.9M | -$505.3M | -$399.4M | -$350.7M | -$305.9M | -$264.3M | -$242.4M | -$210.6M | -$140.6M |
| Total equity | $64.8M | $85.6M | $224.8M | $321.6M | $351.1M | $381.6M | $420.5M | $443.7M | $481.5M | $540.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.8M | -$4.0M | -$7.4M | -$486.0K | -$7.9M | -$13.6M | -$1.6M | -$7.1M | $2.3M | $4.1M |
| Stock-based compensation | $364.0K | $408.0K | $5.9M | $8.8M | $8.5M | $3.9M | $86.0K | $17.0K | $74.0K | $61.0K |
| Capital expenditure | $757.0K | $1.3M | $4.1M | $5.6M | $3.4M | $3.8M | $7.7M | $9.0M | $10.8M | $16.7M |
| Investing cash flow | -$3.8M | $59.9M | $71.0K | -$5.6M | -$3.4M | -$3.8M | -$46.0M | -$14.9M | -$10.3M | -$95.9M |
| Financing cash flow | $650.0K | -$49.7M | $4.0M | -$6.3M | -$275.0K | -$970.0K | $51.1M | $29.6M | $5.5M | -$41.1M |
| Dividends paid | — | $0 | $0 | $2.7M | $5.2M | $622.0K | $0 | $7.5M | $28.3M | $25.3M |
| Buybacks | $0 | $231.0K | $0 | $0 | $183.0K | $0 | $0 | $10.3M | $7.3M | $12.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-025292.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $47.6M | $58.4M | $62.4M | — | — | — | $800.0K | $700.0K | $0 | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$19.8M | -$23.1M | -$24.1M | -$21.9M | -$41.0M | -$39.5M | -$45.9M | -$105.9M | -$140.6M | -$21.2M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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