American Strategic Investment reports Q2 net loss $91.9M, sale of 9 Times Square for $63.5M

American Strategic Investment Co.

2024-Q2 EPS reported -$41.09

Q2 revenue $15.8M, net loss $91.9M (incl. $84.7M impairment), Adjusted EBITDA $4.5M up 50% YoY.
Signed definitive agreement to sell 9 Times Square for $63.5M; expected net proceeds $13.5M to reduce leverage.
Portfolio occupancy 85.9%; weighted-avg remaining lease term 6.3 years; top 10 tenants 81% investment grade.
New leasing & license in Q2: 5,284 SF, $0.9M SLR; forward pipeline 25,771 SF, $1.2M SLR.
Debt 88% fixed-rate at 4.9%; net leverage 55.9%; $49.5M loan at 9 Times Square matures Oct 2024.

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