New York City REIT, Inc. (NYSE:NYC) Q2 2022 Earnings Conference Call August 12, 2022 11:00 AM ET Company Participants Louisa Quarto - Executive Vice President Michael Weil - Chief Executive Officer Chris Masterson - Chief Financial Officer Conference Call Participants Bryan Maher - B. Riley Securities Operator Good morning, and welcome to the New York City REIT Second Quarter Earnings Call. All lines have been placed on you to prevent any background noise. After the speakers' remarks, there will be a questi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number: 001-39448 New York City REIT, Inc. (Exact name of registrant as specified in its charter) | Maryland | 46-43802 ...

New York City REIT, Inc. (NYSE:NYC) Q1 2022 Earnings Conference Call May 13, 2022 11:00 AM ET Company Participants Louisa Quarto – Executive Vice President Michael Weil – Chief Executive Officer Chris Masterson – Chief Financial Officer Conference Call Participants Bryan Maher – B. Riley Securities Operator Good morning. My name is Chris, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the New York City REIT First Quarter 2022 Earnings Call. All lines have been plac ...

NEW YORK CITY REIT First Quarter Investor Presentation CALVIN KLEIN RESH FI 0 9 Times Square - New York, NY_ First Quarter 2022 Highlights NYC is a real estate investment trust with a high-quality portfolio of real estate assets focused on the Manhattan market and is supported by a robust Advisor platform that has diligently navigated through the COVID-19 pandemic resulting in portfolio Cash Rent collection at nearly 100%, maintained and enhanced a credit worthy tenant base and delivered exceptional investo ...

[PART I - FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited consolidated financial statements for Q1 2022 report a net loss of **$11.1 million**, an improvement from the prior year, with total assets at **$810.2 million** Consolidated Balance Sheet Highlights (Unaudited) | | March 31, 2022 (in thousands) | December 31, 2021 (in thousands) | | :--- | :--- | :--- | | Total real estate investments, net | $689,004 | $694,774 | | Cash and cash equivalents | $10,342 | $11,674 | | Total assets | $810,182 | $823,051 | | Mortgage notes payable, net | $393,002 | $398,117 | | Total liabilities | $466,583 | $471,915 | | Total equity | $343,599 | $351,136 | Consolidated Statements of Operations Highlights (Unaudited) | | Three Months Ended March 31, 2022 (in thousands, except per share data) | Three Months Ended March 31, 2021 (in thousands, except per share data) | | :--- | :--- | :--- | | Revenue from tenants | $15,646 | $15,186 | | Operating loss | $(6,353) | $(8,830) | | Net loss attributable to common stockholders | $(11,105) | $(13,535) | | Net loss per share — Basic and Diluted | $(0.84) | $(1.06) | Consolidated Statements of Cash Flows Highlights (Unaudited) | | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2021 (in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $2,178 | $2,145 | | Net cash used in investing activities | $(406) | $(43) | | Net cash used in financing activities | $(6,869) | $(1,503) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the ongoing COVID-19 impacts, reporting a **98%** cash rent collection rate for Q1 2022 and a **$0.5 million** increase in tenant revenue, while addressing liquidity and significant debt covenant breaches on four properties - The company collected **98%** of original cash rent due across its portfolio for Q1 2022, consistent with Q4 2021, with no new rent deferral or abatement agreements entered into during the quarter[198](index=198&type=chunk) - Due to the financial impact of COVID-19, the company experienced cash trap events on four mortgages (9 Times Square, 1140 Avenue of the Americas, Laurel/Riverside, and 8713 Fifth Avenue) due to breaches of debt covenants, restricting cash from these properties for other corporate purposes as of March 31, 2022[195](index=195&type=chunk)[228](index=228&type=chunk)[229](index=229&type=chunk) - On March 2, 2022, the company entered into a waiver and amendment for the 9 Times Square mortgage, paying down **$5.5 million** in principal to waive a potential default, though the property remains in a cash trap with a potential default if covenants are not met by Q3 2022[236](index=236&type=chunk)[238](index=238&type=chunk) Non-GAAP Financial Measures (Q1 2022 vs Q1 2021) | (In thousands) | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Net loss attributable to common stockholders | $(11,105) | $(13,535) | | FFO (deficit) attributable to common stockholders | $(4,124) | $(5,009) | | Core FFO (deficit) attributable to common stockholders | $(2,004) | $(2,894) | | Cash NOI | $5,741 | $5,639 | - The company declared and paid a dividend of **$0.10 per share**, totaling **$1.3 million** in Q1 2022, which management states was **100%** covered by cash flows from operations[266](index=266&type=chunk)[269](index=269&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material change in its market risk exposure during Q1 2022, referring to the detailed discussion in its 2021 Annual Report on Form 10-K - There has been no material change in the company's market risk exposure during the three months ended March 31, 2022[275](index=275&type=chunk) [Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of Q1 2022, with no material changes to internal control over financial reporting during the period - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures are effective as of March 31, 2022[276](index=276&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[277](index=277&type=chunk) [PART II - OTHER INFORMATION](index=46&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no material pending legal proceedings as of the end of the quarter - The company is not currently a party to any material pending legal proceedings[279](index=279&type=chunk) [Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) This section highlights specific risks including vulnerability to terrorist attacks due to the New York City portfolio and economic risks from the war in Ukraine, such as exacerbated inflation and potential recession - All company properties are located in New York City, making them susceptible to terrorist attacks or other acts of violence which could negatively impact business and profitability[280](index=280&type=chunk) - The military conflict in Ukraine is identified as a risk that has exacerbated inflation, supply chain disruptions, and volatility in commodity, credit, and capital markets[281](index=281&type=chunk) - Sanctions against Russia could lead to significant increases in energy prices, potentially triggering a recession and making it more difficult for the company to access debt or equity financing[282](index=282&type=chunk)[283](index=283&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company discloses a side letter agreement with its Advisor for reinvestment of up to **$3.0 million** in management fees into Class A common stock, with **$1.0 million** reinvested in Q1 2022 - The company entered into a side letter agreement with its Advisor, requiring the Advisor to invest up to **$3.0 million** of its management fees into the company's Class A common stock between February 4, 2022, and August 4, 2022[286](index=286&type=chunk) - During Q1 2022, the Advisor reinvested **$1.0 million** in fees, receiving **88,880** shares of Class A Common Stock in an unregistered sale[287](index=287&type=chunk) [Defaults Upon Senior Securities](index=48&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon its senior securities during the period - None[290](index=290&type=chunk) [Mine Safety Disclosures](index=48&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[291](index=291&type=chunk) [Other Information](index=48&type=section&id=Item%205.%20Other%20Information) The company reports no other information for this item - None[292](index=292&type=chunk) [Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists exhibits included with or incorporated by reference into the Quarterly Report on Form 10-Q, in accordance with Item 601 of Regulation S-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number: 001-39448 New York City REIT, Inc. (Exact name of registrant as specified in its charter) Maryland 46-4380248 (State or other ...

NEW YORK CITY REIT Fourth Quarter Investor Presentation CALVIN KLEIN RESH FI 0 9 Times Square - New York, NY_ Fourth Quarter 2021 Highlights NYC is a real estate investment trust with a high-quality portfolio of real estate assets focused on the Manhattan market and is supported by a robust Advisor platform that has increased portfolio Cash Rent collection by 14% year over year, maintained an attractive top 10 tenant base that is 72% Investment Grade(1) rated and completed 17 new leases for over 200,000 SF ...

Financial Data and Key Metrics Changes - The company achieved a total return of 55% for shareholders from the beginning of 2021 through March 1, 2022, outperforming the S&P 500 by over 36% and New York City-focused peer REITs by over 31% [10] - Revenue for the year ended December 31, 2021, was $70.2 million, with fourth-quarter revenue at $24.2 million, compared to $9.9 million in Q4 2020 and $15.8 million in Q3 2021 [26] - Cash NOI for Q4 2021 increased by 74% to $7.1 million compared to Q4 2020 [29] Business Line Data and Key Metrics Changes - The company collected 96% of the original cash rent due in Q4 2021, a 4% increase from Q3 2021 and a 14% improvement from Q4 2020 [12] - The company executed 17 new leases for over 200,000 square feet in 2021, adding approximately $7.4 million of annualized straight-line rent [19] - The company replaced over 69% of the space formerly occupied by Knotel with creditworthy tenants, achieving a weighted average remaining lease term of 7 years and combined annualized straight-line rent of almost $2.5 million [16] Market Data and Key Metrics Changes - The company's portfolio had an occupancy rate of 82.9% at year-end, with a forward-leasing pipeline that could increase occupancy to 84% [20] - The top 10 tenants were 72% investment-grade or implied investment-grade rated, with an average remaining lease term of 9.6 years, enhancing the quality and stability of earnings [24] Company Strategy and Development Direction - The company is focused on proactive asset and property management initiatives to navigate the impacts of the pandemic and is well-positioned to benefit from the return of workers and tourists to New York City [9][11] - The company aims to grow occupancy and earnings, with expectations of reaching 95% to 96% occupancy over time as corporate tenants return to offices [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term strength of New York City real estate, citing the necessity of office and retail space in the city [23] - The management team highlighted the importance of their proactive approach to asset management, which has helped maintain rent collection and tenant relationships during the pandemic [35] Other Important Information - The company reported a full-year GAAP net loss attributable to common stockholders of $39.5 million, an improvement from a net loss of $41 million in 2020 [28] - The company maintains a conservative balance sheet with net leverage at 40.1% and no debt maturity scheduled within the next 3 years [31] Q&A Session Summary Question: What triggered the amortization of below-market lease liabilities? - The amortization was triggered by the termination of the parking garage lease in Q4, leading to the acceleration of all related amortization [40] Question: What is the occupancy situation at 123 William Street and 9 Times Square? - Management indicated that there is net positive absorption at both buildings, with no notable upcoming vacancies impacting occupancy [45] Question: What drove the occupancy dip at Avenue of the Americas, and what are the expectations for 2022? - Management noted strong leasing activity in 2022 and a pipeline that could add approximately 1 percentage point to occupancy, with expectations of continued growth [46] Question: What is the acquisition outlook for the company? - The company is monitoring the acquisition pipeline and is looking for opportunities, particularly in Manhattan, but has not yet identified any positive additions to the portfolio [48]

PART I - FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for Q3 and nine months ended September 30, 2021, highlighting a **$35.7 million** net loss and ongoing debt covenant challenges [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) As of September 30, 2021, total assets decreased to **$832.1 million** from **$861.8 million**, with total equity declining to **$353.6 million** due to the net loss Consolidated Balance Sheet Highlights (in thousands) | Account | September 30, 2021 (Unaudited) | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$832,143** | **$861,846** | | Total real estate investments, net | $700,870 | $720,971 | | Cash and cash equivalents | $23,169 | $30,999 | | **Total Liabilities** | **$478,525** | **$480,279** | | Mortgage notes payable, net | $397,731 | $396,574 | | **Total Equity** | **$353,618** | **$381,567** | [Consolidated Statements of Operations and Comprehensive Loss](index=4&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported a **$11.1 million** net loss for Q3 2021, with the nine-month net loss widening to **$35.7 million** due to lower tenant revenue and higher equity compensation Statement of Operations Summary (in thousands) | Metric | Q3 2021 | Q3 2020 | Nine Months 2021 | Nine Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Revenue from tenants | $15,848 | $16,997 | $46,011 | $53,035 | | Total operating expenses | $22,160 | $24,215 | $67,473 | $63,261 | | Operating loss | $(6,312) | $(7,218) | $(21,462) | $(10,226) | | Net loss | $(11,110) | $(12,288) | $(35,697) | $(24,362) | | Net loss per share | $(0.85) | $(0.96) | $(2.78) | $(1.91) | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$4.3 million** for the nine months ended September 30, 2021, resulting in a **$5.2 million** decrease in total cash and equivalents Cash Flow Summary (Nine Months Ended Sep 30, in thousands) | Cash Flow Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net cash used in operating activities | $(4,311) | $(6,019) | | Net cash used in investing activities | $(1,998) | $(3,162) | | Net cash provided by (used in) financing activities | $1,095 | $(328) | | **Net change in cash, cash equivalents and restricted cash** | **$(5,214)** | **$(9,509)** | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) These notes detail accounting policies, real estate portfolio, and debt obligations, highlighting COVID-19's impact on rent collections and significant debt covenant breaches - As of September 30, 2021, the company owned eight properties in New York City totaling **1.2 million** rentable square feet[24](index=24&type=chunk) - The company experienced rent collection delays due to COVID-19, reducing 2020 revenue by **$8.5 million** for reserves, with no rental income from these tenants in the first nine months of 2021[42](index=42&type=chunk)[51](index=51&type=chunk) - The company is in breach of debt covenants on mortgages for its 1140 Avenue of Americas, 9 Times Square, Laurel/Riverside, and 8713 Fifth Avenue properties, resulting in cash trap events[43](index=43&type=chunk) - A multi-year outperformance award (2020 OPP) granted to the Advisor, consisting of **4,012,841 LTIP Units**, has a total fair value of **$25.8 million** being expensed over 3.07 years, with **$6.3 million** recognized in the first nine months of 2021[185](index=185&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=35&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses COVID-19's operational and financial challenges, including rent collection, tenant bankruptcies, liquidity, and mortgage covenant breaches [Management Update on the Impacts of the COVID-19 Pandemic](index=36&type=section&id=Management%20Update%20on%20the%20Impacts%20of%20the%20COVID-19%20Pandemic) The COVID-19 pandemic continues to impact operations, leading to tenant bankruptcies and rent deferral agreements, though cash rent collections improved to **92%** for Q3 2021 - The bankruptcy of former tenant Knotel in January 2021 led to the termination of leases at 123 William Street and 9 Times Square[211](index=211&type=chunk) Original Cash Rent Collection Rates | Period | Collection Rate | | :--- | :--- | | Q3 2021 | 92% | | Q2 2021 | 91% (as of Oct 31, 2021) | | Q1 2021 | 87% | | Q4 2020 | 82% | - In the first nine months of 2021, the company entered into 12 abatement or deferral agreements, deferring **$0.6 million** and abating **$0.9 million** in rent[218](index=218&type=chunk) [Results of Operations](index=39&type=section&id=Results%20of%20Operations) Q3 2021 tenant revenue decreased by **$1.1 million** to **$15.8 million**, contributing to a nine-month net loss of **$35.7 million** due to lower revenue and higher equity compensation - Q3 2021 revenue from tenants decreased by **$1.1 million** year-over-year to **$15.8 million**, mainly due to lease terminations and tenants being placed on a cash basis[228](index=228&type=chunk) - For the nine months ended September 30, 2021, revenue from tenants decreased by **$7.0 million** year-over-year to **$46.0 million**[242](index=242&type=chunk) - Equity-based compensation for the nine months ended September 30, 2021, increased by **$4.6 million** to **$6.4 million**, primarily due to the amortization of the 2020 OPP award[249](index=249&type=chunk) [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is pressured by negative operating cash flow and mortgage debt challenges, with **$23.2 million** in cash, cash trap events on four properties, and reliance on its ATM equity program - As of September 30, 2021, the company had **$23.2 million** in cash and cash equivalents and is required to maintain a minimum of **$10.0 million** in liquid assets under a loan covenant[264](index=264&type=chunk) - Cash trap events are in effect for four properties (1140 Avenue of the Americas, 9 Times Square, Laurel/Riverside, and 8713 Fifth Avenue), preventing the company from using excess cash flow from these properties, which represent **47%** of the portfolio's rentable square feet[265](index=265&type=chunk) - The company believes it breached covenants for the 9 Times Square loan for a fourth consecutive quarter, which would cause an event of default if not cured by a significant principal repayment or providing additional collateral[269](index=269&type=chunk)[270](index=270&type=chunk) - During the nine months ended September 30, 2021, the company sold **466,651 shares** through its Common Stock ATM Program for gross proceeds of **$5.3 million**[277](index=277&type=chunk) [Non-GAAP Financial Measures](index=47&type=section&id=Non-GAAP%20Financial%20Measures) The company uses FFO, Core FFO, and Cash NOI, reporting a **$11.9 million FFO deficit** and a **$5.5 million Core FFO deficit** for the nine months ended September 30, 2021 FFO and Core FFO Reconciliation (in thousands) | Metric | Nine Months 2021 | Nine Months 2020 | | :--- | :--- | :--- | | Net loss attributable to common stockholders | $(35,711) | $(24,362) | | Depreciation and amortization | $23,400 | $24,070 | | Impairment of real estate investments | $413 | $0 | | **FFO (deficit) attributable to common stockholders** | **$(11,898)** | **$(292)** | | Listing expenses | $0 | $1,299 | | Vesting and conversion of Class B Units | $0 | $1,153 | | Equity-based compensation | $6,356 | $1,758 | | **Core FFO (deficit) attributable to common stockholders** | **$(5,542)** | **$3,918** | Cash NOI Reconciliation (in thousands) | Metric | Nine Months 2021 | Nine Months 2020 | | :--- | :--- | :--- | | Net loss | $(35,711) | $(24,362) | | Adjustments (G&A, D&A, Interest, etc.) | $50,277 | $51,139 | | Straight-line rent & lease amortization adjustments | $(3,623) | $(6,389) | | **Cash NOI** | **$17,382** | **$23,195** | [Quantitative and Qualitative Disclosures About Market Risk](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes occurred in the company's market risk exposure during the nine months ended September 30, 2021, compared to its 2020 Annual Report - There has been no material change in the company's exposure to market risk during the nine months ended September 30, 2021[309](index=309&type=chunk) [Controls and Procedures](index=51&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls were effective as of September 30, 2021, with no material changes in internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period[310](index=310&type=chunk) - No material changes occurred in the company's internal control over financial reporting during the third quarter of 2021[311](index=311&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=52&type=section&id=Item%201.%20Legal%20Proceedings) As of the end of the third quarter of 2021, the company reports that it is not a party to any material pending legal proceedings - The company is not a party to any material pending legal proceedings[313](index=313&type=chunk) [Risk Factors](index=52&type=section&id=Item%201A.%20Risk%20Factors) This section highlights new material risks, primarily breaches of **$214.0 million** in mortgage loan covenants and the company's ability to fund capital requirements - The company is in breach of covenants under four separate mortgage loans aggregating **$214.0 million** in principal, secured by properties representing **47%** of the portfolio's total rentable square feet[315](index=315&type=chunk) - An anticipated fourth consecutive quarterly covenant breach on the 9 Times Square loan could trigger an event of default, potentially requiring a significant principal repayment or foreclosure[316](index=316&type=chunk)[317](index=317&type=chunk) - The company's ability to fund capital requirements is at risk, as cash from operations has not been sufficient, necessitating reliance on the Common Stock ATM Program and available cash on hand[318](index=318&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=53&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities during the period - There were no unregistered sales of equity securities[323](index=323&type=chunk) [Defaults Upon Senior Securities](index=54&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon its senior securities - There were no defaults upon senior securities[327](index=327&type=chunk) [Mine Safety Disclosures](index=54&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[328](index=328&type=chunk) [Other Information](index=54&type=section&id=Item%205.%20Other%20Information) The company reports no other information required to be disclosed under this item - None[329](index=329&type=chunk) [Exhibits](index=54&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including officer certifications and XBRL data files - The report includes required exhibits such as CEO and CFO certifications under Sarbanes-Oxley Sections 302 and 906[331](index=331&type=chunk)

New York City REIT, Inc. (NYSE:NYC) Q3 2021 Earnings Conference Call November 12, 2021 11:00 AM ET Company Participants Louisa Quarto - Investor Relations Mike Weil - Chief Executive Officer Chris Masterson - Chief Financial Officer Conference Call Participants Bryan Maher - B. Riley Securities Operator Good day and thank you for standing by and welcome to the New York City REIT Inc. Third Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers’ remarks, ther ...