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 ...

New York City REIT, Inc. (NYSE:NYC) Q2 2021 Earnings Conference Call August 12, 2021 10:00 AM ET Company Participants Louisa Quarto – Executive Vice President Mike Weil – Chief Executive Officer Chris Masterson – Chief Financial Officer Conference Call Participants Bryan Maher – B. Riley Securities Operator Good day. Thank you for standing by and welcome to the New York City REIT Inc. Second Quarter Earnings Call. At this time, all participant lines are in a listen-only mode. After the speakers’ presentatio ...

NEW YORK CITY REIT Second Quarter Investor Presentation 123 William Street - New York, NY 0 Second Quarter 2021 Highlights NYC is a high-quality Manhattan focused portfolio with a top 10 tenant base that is 73% Investment Grade(1) rated and a 14,000 SF forward Leasing Pipeline(1) , which is expected to increase annualized straight-line Rent by $1.3 million(2) | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------------- ...

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, 2021 OR New York City REIT, Inc. (Exact name of registrant as specified in its charter) | Maryland | 46-4380248 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | 650 Fifth Ave., 30 Floor, New York, NY 10019 th (Addres ...

New York City REIT, Inc. (NYSE:NYC) Q1 2021 Results Conference Call May 13, 2021 11:00 AM ET Company Participants Louisa Quarto - EVP Mike Weil - CEO Chris Masterson - CFO Chris Chao - SVP, Asset Management Conference Call Participants Bryan Maher - B. Riley Securities Operator Good morning, and welcome to the New York City REIT First Quarter Earnings Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Louisa Quarto, Executive Vice Preside ...

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 March 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 | 46-4380 ...

NEW YORK CITY REIT First Quarter Investor Presentation 123 William Street - New York, NY 0 First Quarter 2021 Highlights 1) NYC features a high-quality, Manhattan focused portfolio that is supported by a top 10 tenant base that is 73% Investment Grade(1) rated and a robust forward Leasing Pipeline(1) of 28,100 SF that is expected to increase annualized straight-line Rent by $1.5 million(2) | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------- ...

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, 2020 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) (State or other jurisdiction of inco ...

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 September 30, 2020 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- ...