The company reported an impressive EPS of $13.60, significantly beating the estimated EPS of -$1.76.Actual revenue was $12.27 million, falling short of the estimated $14.26 million.Financial metrics show a mixed picture, with a high current ratio of 6.52 indicating strong liquidity but challenges in generating cash flow from operations.American Strategic Investment Co. (NYSE:NYC) is a real estate company that owns commercial properties across New York City's five boroughs. The company is listed on the New Y ...

Core Points - The American Strategic Investment Co. held its Third Quarter Earnings Call for 2025, with key executives participating, including the CEO and CFO [2] - The call was recorded and made available for webcast in the Investor Relations section of the company's website [2] Financial Performance - Detailed financial results for the third quarter of 2025 were discussed, although specific figures were not provided in the excerpts [2] Regulatory Compliance - The company referred to its SEC filings, including the Form 10-K for the year ended December 31, 2024, for a comprehensive discussion of risks that could affect financial results [4]

Core Insights - Revenue rose sharply in the second quarter, driven by the global push to adopt Windows 11 and the growth of the world's largest PC maker's server business amid the artificial intelligence boom [1] Group 1 - The adoption of Windows 11 is a significant factor contributing to the revenue increase [1] - The company's server business is expanding, benefiting from the ongoing artificial intelligence trend [1]

Core Insights - Lenovo reported a 5% decline in profit for the second quarter [1] Financial Performance - The company's profit decreased by 5% compared to the previous year [1]

Financial Data and Key Metrics Changes - Third quarter 2025 revenue was $12.3 million, down from $15.4 million in the third quarter of 2024, primarily due to the sale of 9 Times Square in the fourth quarter of 2024 [10] - GAAP net gain attributable to common stockholders was $35.8 million in the third quarter of 2025, influenced by a $44.3 million non-cash gain related to the foreclosure at 1140 Avenue of the Americas, compared to a net loss of $34.5 million in the third quarter of 2024 [10] - Adjusted EBITDA for the third quarter of 2025 was $1.9 million, down from $4.1 million in the same quarter of 2024 [10] - Cash net operating income decreased to $5.3 million from $7 million in the third quarter of 2024 [10] Business Line Data and Key Metrics Changes - The company executed a significant lease renewal at 196 Orchard, extending the weighted average remaining lease term of the portfolio to 6.2 years, up from 5.9 years at the end of the second quarter [5] - Near-term lease expirations represent 8% of annualized straight-line rent, with 56% of leases now extending beyond 2030, an increase from 54% last quarter [6] Market Data and Key Metrics Changes - The company owns six properties, with a real estate portfolio valued at approximately $390 million and covering about 743,000 square feet, primarily located in Manhattan [7] - The tenant base includes large investment-grade firms, which is expected to support occupancy growth and tenant retention [7] Company Strategy and Development Direction - The company is focused on unlocking value, diversifying holdings, and strengthening the balance sheet through the sale of properties like 123 Williams Street and 196 Orchard [8] - A strategic disposition of 1140 Avenue Americas is anticipated to close in the fourth quarter of 2025, which is expected to eliminate a $99 million liability [8] - The strategy includes proactive management of the balance sheet and capital allocation towards higher-return assets [8] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of tenant retention, property improvements, and cost efficiency in the current operating environment [5] - The company is focused on enhancing operational flexibility and generating cash for reinvestment into higher-yielding assets [12] Other Important Information - The company has changed its audit partners to CBIZ CPAs to streamline costs and reduce general and administrative expenses [11] - There was no dispute or conflict with the prior accounting firm during the change [11] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session. The call concluded without any detailed inquiries from participants [13]

Financial Data and Key Metrics Changes - Third quarter 2025 revenue was $12.3 million, down from $15.4 million in the third quarter of 2024, primarily due to the sale of 9 Times Square in Q4 2024 [10] - GAAP net gain attributable to common stockholders was $35.8 million in Q3 2025, influenced by a $44.3 million non-cash gain related to the foreclosure at 1140 Avenue of the Americas, compared to a net loss of $34.5 million in Q3 2024 [10] - Adjusted EBITDA for Q3 2025 was $1.9 million, down from $4.1 million in Q3 2024, while cash net operating income decreased to $5.3 million from $7 million in the same period [10][11] Business Line Data and Key Metrics Changes - The company executed a significant lease renewal at 196 Orchard, extending the weighted average remaining lease term of the portfolio to 6.2 years, up from 5.9 years at the end of Q2 2025 [5] - Near-term lease expirations represent 8% of annualized straight-line rent, with 56% of leases now extending beyond 2030, an increase from 54% last quarter [6] Market Data and Key Metrics Changes - The company's real estate portfolio, valued at approximately $390 million and covering about 743,000 sq ft, is primarily located in Manhattan, benefiting from a strong tenant base that includes large investment-grade firms [7] - The focus on resilient industries near transit-oriented locations is expected to support occupancy growth and tenant retention [7] Company Strategy and Development Direction - The company aims to unlock value, diversify holdings, and strengthen its balance sheet by marketing properties like 123 Williams Street and 196 Orchard for sale [8] - The strategic disposition of 1140 Avenue of the Americas is anticipated to eliminate a $99 million liability, aligning with the strategy to manage the balance sheet proactively [8] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of enhancing operational flexibility through the consensual foreclosure of 1140 Avenue of the Americas and ongoing property sales [12] - The focus remains on leasing available space, renewing existing leases, and maintaining strict expense controls [12] Other Important Information - The company has changed its audit partners to CBIZ CPAs to streamline costs and reduce general and administrative expenses, with no disputes with the previous firm [11] Q&A Session Summary - No specific questions or answers were recorded in the provided content, as the call concluded without a Q&A segment [13]

Financial Data and Key Metrics Changes - Third quarter 2025 revenue was $12.3 million, down from $15.4 million in the third quarter of 2024, primarily due to the sale of 9 Times Square in Q4 2024 [9] - GAAP net gain attributable to common stockholders was $35.8 million in Q3 2025, influenced by a $44.3 million non-cash gain related to the foreclosure at 1140 Avenue of the Americas, compared to a net loss of $34.5 million in Q3 2024 [9] - Adjusted EBITDA for Q3 2025 was $1.9 million, down from $4.1 million in Q3 2024, while cash net operating income decreased to $5.3 million from $7 million in the same period [9][10] Business Line Data and Key Metrics Changes - The company executed a significant lease renewal at 196 Orchard, extending the weighted average remaining lease term of the portfolio to 6.2 years, up from 5.9 years at the end of Q2 2025 [5] - Near-term lease expirations represent 8% of annualized straight-line rent, with 56% of leases now extending beyond 2030, an increase from 54% last quarter [6] Market Data and Key Metrics Changes - The real estate portfolio, excluding the property expected to be disposed of, is valued at approximately $390 million and spans about 743,000 square feet, primarily located in Manhattan [6] - The tenant base includes large investment-grade firms, contributing to portfolio stability [6] Company Strategy and Development Direction - The company is focused on unlocking value from current assets, emphasizing tenant retention, property improvements, and cost efficiency [5] - Ongoing marketing efforts for the sale of 123 Williams Street and 196 Orchard are aimed at generating cash to retire debt and reinvest in higher-yielding assets [7] - The strategic disposition of 1140 Avenue of the Americas is expected to eliminate a $99 million liability, aligning with the strategy to manage the balance sheet proactively [7] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of operational flexibility through the consensual foreclosure of 1140 Avenue of the Americas and ongoing sales efforts [11] - The focus remains on leasing available space, renewing existing leases, and maintaining strict expense controls [11] Other Important Information - The company has changed its audit partners to CBIZ CPAs to streamline costs and reduce general and administrative expenses [10] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating a focus on the presentation rather than an interactive Q&A session.

AMERICAN STRATEGIC INVESTMENT CO. Third Quarter Investor Presentation 0 196 Orchard Street Retail Condominium - New York, NY_ Third Quarter 2025 Highlights Manhattan focused real estate portfolio features an underlying tenant base in core commercial businesses, and an attractive top 10 tenant base that is 69% Investment Grade(1)(2) 2) Refer to slide 6 – Top 10 Tenant Investment Grade Profile. Based on Annualized Straight-line Rent and on ratings information as of September 30, 2025. For our purposes, includ ...

Property and Occupancy - As of September 30, 2025, the company owned six properties with a total of approximately 0.7 million rentable square feet, acquired for an aggregate purchase price of $442.7 million, and an overall occupancy rate of 80.9%[165] - The overall portfolio occupancy decreased from 85.9% as of September 30, 2024, to 80.9% as of September 30, 2025, with occupancy at 400 E. 67th Street dropping to 44.3%[184] - Occupancy at 8713 Fifth Avenue increased to 100% as of September 30, 2025, compared to 88.6% in 2024, indicating a growth in occupancy rates[190] Leasing and Rental Income - The company collected 98% of cash rent due across its entire portfolio for the nine months ended September 30, 2025, based on annualized straight-line rent[170] - New leases signed in Q3 2025 totaled 20,308 square feet, with an annualized straight-line rent per square foot of $72.72[181] - The leasing activity for the nine months ended September 30, 2025, included 3 new and replacement leases commenced in Q3 2025[181] - The company has experienced challenges in leasing available space and maintaining occupancy, negatively impacting cash flows and operations[168] - Revenue from tenants decreased to $12.3 million for the quarter ended September 30, 2025, down from $15.4 million in 2024, representing a decline of 20.6% due to the sale of 9 Times Square[191] - Revenue from tenants for the nine months ended September 30, 2025, decreased to $36.8 million from $46.7 million in 2024, a decline of 21.5% primarily due to the sale of 9 Times Square[206] Financial Performance - Net income attributable to common stockholders increased to $35.8 million for the quarter ended September 30, 2025, compared to $34.5 million for the same period in 2024, reflecting a growth of 3.8%[188] - Net loss attributable to common stockholders for the nine months ended September 30, 2025, was $14.5 million, a significant improvement from a loss of $133.9 million in the same period of 2024, reflecting a reduction of 89.1%[204] - Total operating expenses significantly decreased to $13.5 million for the quarter ended September 30, 2025, compared to $44.7 million in 2024, a reduction of 69.8%[189] - Gain on disposition of real estate investments was recorded at $44.3 million for the quarter ended September 30, 2025, related to the 1140 Avenue of Americas property[196] Liquidity and Debt - The company faces significant liquidity constraints due to declines in rental income and ongoing debt service obligations[172] - Two mortgages aggregating $50.0 million are in default, and three mortgages totaling $60.0 million are in cash trap events as of September 30, 2025[169] - As of September 30, 2025, the company had gross borrowings totaling $251.0 million with a weighted-average interest rate of 5.33%[232] - The company breached a debt service coverage provision under the non-recourse mortgage secured by the 1140 Avenue of the Americas property for the last 20 quarters, with a principal amount of $99.0 million[235] - Cash swept and retained by the lender as of September 30, 2025, was $4.1 million, compared to $4.2 million on December 31, 2024[244] Expenses and Charges - General and administrative expenses increased to $7.1 million for the nine months ended September 30, 2025, compared to $6.5 million in 2024, an increase of 9.9% attributed to higher legal and audit fees[216] - Interest expense decreased to $4.1 million for the quarter ended September 30, 2025, down from $5.3 million in 2024, a reduction of 22.5%[201] - Interest expense decreased to $11.2 million for the nine months ended September 30, 2025, compared to $15.2 million for the same period in 2024, a decrease of about 26.3%[220] - Impairment charges for real estate investments totaled $30.6 million for the nine months ended September 30, 2025, compared to $112.5 million in 2024, a decrease of 72.8%[205] Cash Flow and Capital Expenditures - Net cash provided by (used in) operating activities was $(4.8) million for the nine months ended September 30, 2025, compared to $3.3 million for the same period in 2024, a decrease of $8.1 million[222] - Cash and cash equivalents decreased to $3.4 million as of September 30, 2025, from $9.8 million as of December 31, 2024[227] - For the nine months ended September 30, 2025, capital expenditures amounted to $0.7 million, primarily for tenant and building improvements[249] Market Conditions and Strategies - The company intends to focus on selling performing properties, entering into new leases, and divesting from underperforming assets to improve liquidity[171] - The company plans to continue using market tenant incentives, such as free rent periods, to support occupancy rates and extend lease durations[186] - The 12-month CPI increase as of September 30, 2025, was 2.7%, with approximately 80% of leases containing rent escalation provisions averaging a 0.4% increase per year[259] Miscellaneous - The company had no acquisitions or dispositions during the three or nine months ended September 30, 2025[251] - There were no off-balance sheet arrangements that materially affect the company's financial condition[262]

Core Points - American Strategic Investment Co. has rescheduled the release date for its third quarter 2025 financial results to November 14, 2025, before the market opens on the New York Stock Exchange [1][2] - A conference call and webcast will be held on the same day at 11:00 a.m. ET to discuss the results and provide commentary on business performance [2][3] - The change in the release date is to allow the newly appointed auditor sufficient time to review the filings in accordance with statutory guidelines [2] Conference Call Details - The conference call will be accessible via a toll-free dial-in number: 1 (877) 269-7751, and a toll dial-in number: 1 (201) 389-0908 [4] - A replay of the conference call will be available from November 14, 2025, through December 26, 2025, using the toll-free number: 1 (844) 512-2921 [4] Company Overview - American Strategic Investment Co. (NYSE: NYC) owns a portfolio of commercial real estate located within the five boroughs of New York City [5]