Aug 12, 2026, 6:03 AM ETReal Estate

American Strategic Investment Co. — Second Quarter 2026 Earnings Summary

NYCAMERICAN STRATEGIC INVESTMENT CO

Financial Performance

Revenue from tenants was $7.3 million for the three months ended June 30, 2026, a decrease from $12.2 million in the same period of 2025, primarily due to the disposition of 1140 Avenue of the Americas in the prior year.
Net loss attributable to common stockholders was $8.3 million ($3.04 per share) for the quarter, compared to a net loss of $41.7 million ($16.39 per share) in the second quarter of 2025.
Cash Net Operating Income (NOI) was $3.1 million, down from $4.3 million in the second quarter of 2025.
Adjusted EBITDA was $2.4 million, an increase from $0.4 million in the second quarter of 2025.
EBITDA was $0.6 million for the quarter, compared to a loss of $30.3 million in the prior year period.
Total cash paid for interest was $7.8 million for the quarter, compared to $8.4 million in the second quarter of 2025.
Net debt was $248.6 million as of June 30, 2026, with a net debt to gross asset value ratio of 59.6%.
The company held $2.4 million in cash and cash equivalents as of June 30, 2026.

Management remains focused on completing remaining asset dispositions and directing capital toward opportunities believed to create durable shareholder value.
The company is subject to normal continued listing monitoring by the NYSE following notification of compliance with minimum market capitalization and stockholders' equity requirements.

The portfolio consists of five properties totaling 0.7 million rentable square feet, excluding the 1140 Avenue of the Americas property which is in a consensual foreclosure process.
Portfolio occupancy was 74.8% as of June 30, 2026.
Tenant composition based on annualized straight-line rent: 29% government and public administration, 15% retail, 13% non-profit, 11% fitness, and 32% all other industries.
69% of annualized straight-line rent from the top 10 tenants is derived from investment grade or implied investment grade rated tenants.
Weighted-average remaining lease term for the portfolio was 6.1 years, with the top 10 tenants having a weighted-average remaining lease term of 6.4 years.

The company owns a portfolio of commercial real estate located within the five boroughs of New York City.
The press release does not provide specific data on market share, direct competitors, or broader market trends beyond the company's specific portfolio metrics.

The 1140 Avenue of the Americas property is in a consensual foreclosure process.
The company must maintain minimum liquid assets of $5.0 million under certain mortgage loan covenants.
Forward-looking statements highlight risks including geopolitical instability, inflationary conditions, higher interest rates, and potential adverse effects of tariffs.
Risks include the inability to successfully acquire new assets, the potential for future acquisitions or dispositions to fail, and the risk of failing to regain compliance with NYSE listing requirements, which could lead to delisting.

CEO Nicholas Schorsch, Jr. stated that the capital prioritization strategy is taking hold and the investment-grade tenant base is supporting consistent performance, resulting in growth in Adjusted EBITDA.
Management emphasized a continued focus on asset dispositions and capital allocation to create durable value.

In April and June 2026, the Company's external Advisor elected to receive shares of Class A common stock in lieu of $1,910,169 and $2,106,755 in advisory fees, respectively, to preserve operating capital.
On July 22, 2026, the NYSE notified the Company that it is back in compliance with minimum market capitalization and stockholders' equity requirements.
The Company terminated its election to be taxed as a REIT effective January 1, 2023.
Total debt had a weighted-average interest rate of 4.56% as of June 30, 2026, with all debt being fixed-rate.
A gain on disposition of real estate investments of $2.3 million was recorded for the quarter ended June 30, 2026.