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NEW YORK - American Strategic Investment Co. (NYSE:NYC) reported a net loss of $41.7 million for the second quarter ended June 30, 2025, an improvement from the $91.9 million loss recorded in the same period last year, according to a press release issued by the company. According to InvestingPro analysis, the company is currently trading below its Fair Value, with analysts expecting net income growth this year despite ongoing challenges. The stock has shown resilience, posting a 54% return year-to-date.
Revenue for the quarter was $12.2 million, down from $15.8 million in the second quarter of 2024, with the company attributing the decrease primarily to the prior year’s sale of 9 Times Square. This decline aligns with InvestingPro’s data showing a 6.8% revenue decline over the last twelve months, though the company maintains a healthy current ratio of 2.22, indicating strong short-term liquidity. For deeper insights into NYC’s financial health and 13 additional ProTips, subscribers can access the comprehensive Pro Research Report.
The commercial real estate company, which owns properties within the five boroughs of New York City, reported that its portfolio occupancy remained flat at 82.0% compared to the first quarter of 2025. The weighted-average remaining lease term increased to 6.0 years from 5.4 years at the end of the first quarter due to two long-term lease extensions at 123 William and 1140 Avenue of the Americas. InvestingPro data reveals the company is trading at an attractive Price/Book ratio of 0.45, though it operates with a significant debt burden, as evidenced by its debt-to-equity ratio of 5.22.
Cash net operating income (NOI) was $4.2 million, compared to $7.4 million in the second quarter of 2024, while Adjusted EBITDA decreased to $0.4 million from $4.5 million in the prior-year period.
The company’s portfolio consists of six properties comprising 1.0 million rentable square feet, with 77% of annualized straight-line rent from top 10 tenants derived from investment grade or implied investment grade rated tenants with a weighted-average remaining lease term of 7.5 years.
As of June 30, 2025, American Strategic Investment Co. had $5.3 million in cash and cash equivalents, with a net debt to gross asset value ratio of 63.6%. The company’s debt had a weighted-average interest rate of 6.4%.
The company stated in the press release that it remains focused on operating and creating value at its current assets, with an emphasis on tenant retention and opportunistically divesting certain Manhattan assets to recycle proceeds into higher-yielding investments.
In other recent news, American Strategic Investment Company (ASIC) reported a decline in revenue for the first quarter of 2025. The company’s revenue fell to $12.3 million, down from $15.5 million in the same quarter the previous year. Additionally, ASIC posted a GAAP net loss of $8.6 million, compared to a $7.6 million loss in Q1 2024. Despite these financial setbacks, the company is actively pursuing strategic initiatives aimed at improving its financial health and enhancing shareholder value. These developments are part of a broader effort by ASIC to navigate the current economic landscape. The company has not released further details about these initiatives. Investors and analysts will likely continue to monitor ASIC’s progress closely in the coming quarters.
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