American Strategic Investment enters term sheet to sell 9 Times Square for $63.5M

American Strategic Investment Co.

Term sheet signed to sell 9 Times Square in Midtown Manhattan for $63.5 million.
Closing expected within 120 days of executing definitive purchase agreement.
Estimated net proceeds of ~$13.5 million to fund asset acquisition and diversification strategy.
Loan on property extended to October 2024, with option to year-end 2024, to facilitate sale.
No assurance definitive agreement will be reached on these terms or at all.

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