American Strategic Investment Q3 net loss widens to $34.5M on $27.8M impairments

American Strategic Investment Co.

2024-Q3 EPS reported -$54.35

Revenue $15.4M, down from $16.0M YoY; net loss $34.5M vs $9.4M, driven by $27.8M non-cash impairments.
Cash NOI grew to $6.8M from $6.5M; adjusted EBITDA fell to $3.1M from $3.4M.
Portfolio occupancy 85.8% (up 70 bps YoY); weighted-average lease term 5.9 years.
Definitive agreement to sell 9 Times Square; marketing two other properties for deleveraging.
Net debt to gross asset value 60.1%; weighted-average interest rate 4.9%; cash $5.2M.

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