On November 13, 2026, American Strategic Investment Co. (NYSE: NYC) announced its financial results for the quarter ended September 30, 2026. The company reported revenue of $7.1 million for the third quarter of 2026, a decrease from $12.3 million in the same period of the prior year. This decline was primarily attributed to the disposition of 1140 Avenue of the Americas in the prior year.
The company recorded a net loss attributable to common stockholders of $6.7 million for the quarter, compared to net income of $35.8 million in the third quarter of 2025. The prior year's income was largely driven by a non-cash gain related to the disposition of 1140 Avenue of the Americas. Cash net operating income (Cash NOI) for the quarter was $3.5 million, and Adjusted EBITDA was $1.0 million.
As of September 30, 2026, the company’s portfolio consisted of five properties with 0.7 million rentable square feet. The portfolio was 74% leased, with a weighted-average remaining lease term of 6.0 years. Approximately 69% of annualized straight-line rent from the top 10 tenants was derived from investment grade or implied investment grade tenants. The portfolio is diversified, with 28% of annualized rent coming from government and public administration tenants, 15% from retail tenants, and 12% from non-profit tenants.
Regarding capital structure, the company had $5.3 million in cash and cash equivalents as of September 30, 2026. The net debt to gross asset value was 58.6%, with total debt at $251.0 million. All of the company's debt was fixed-rate with a weighted-average interest rate of 4.56%.
In a subsequent event, the company signed an extension and expansion lease with the State of New York at 123 William Street. The lease extends the current term to 2037 and adds approximately 30,000 square feet to the tenant's space. Additionally, the company’s external advisor received shares of Class A common stock in lieu of $1.1 million in advisory fees accrued through August 2026, and the company issued 244,480 shares in lieu of $1.4 million for asset management services accrued through October 2026.
