secwatch.observer — SEC 8-K summary
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Issuer:     American Strategic Investment Co. (NYC)
CIK:        0001595527
Form:       8-K
Filed at:   2024-08-09T23:59:59+00:00
Accession:  0001595527-24-000015
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ASIC Q2 net loss $91.9M includes $84.7M impairment; adj EBITDA up 49%, occupancy 85.9%
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- Net loss to common stockholders $91.9M ($36.48/share) vs $10.9M prior, driven by $84.7M non-cash impairment from pending 9 Times Square sale.
- Revenue flat at $15.8M; adjusted EBITDA grew 49% to $4.5M from $3.0M.
- Portfolio occupancy up 80 bps to 85.9%; weighted-average lease term 6.3 years.
- Definitive agreement to sell 9 Times Square for $63.5M; proceeds to reduce debt and fund higher-yielding investments.
- Net debt to gross asset value 55.9%; weighted-average interest rate 4.9% with 2.7 years maturity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1595527/000159552724000015/0001595527-24-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1595527/000159552724000015/nycr-20240809.htm
  HTML page:      https://secwatch.observer/filing/0001595527-24-000015

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer