ASIC reports Q4 net loss $6.7M, sells 9 Times Square for $63.5M, CEO resigning

American Strategic Investment Co.

Q4 2024 revenue $14.9M, net loss $6.7M; Cash NOI $6.4M (+2% YoY).
Sold 9 Times Square for $63.5M in Q4'24; net proceeds ~$13.5M.
CEO Michael Anderson to resign after 10-K filing; Nicholas Schorsch Jr. appointed successor.
100% fixed-rate debt, 4.4% avg interest rate, no debt maturities in 2025, net leverage 56.9%.
Portfolio occupancy 80.8%; five new leases in 2024 totaling 37,407 SF, $2.0M SLR.

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