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Form 8-K

sec.gov

8-K — American Strategic Investment Co.

Accession: 0001628280-26-025159

Filed: 2026-04-15

Period: 2026-04-15

CIK: 0001595527

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Documents

8-K — nycr-20260415.htm (Primary)

EX-99.1 (ex991-asicearningsrelease1.htm)

EX-99.2 (ex992-asicsupplementalinfo.htm)

GRAPHIC (picture1a.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: nycr-20260415.htm · Sequence: 1

nycr-20260415

0001595527FALSETRUE00015955272026-04-152026-04-150001595527us-gaap:CommonClassAMember2026-04-152026-04-150001595527us-gaap:PreferredClassAMember2026-04-152026-04-15

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 15, 2026

American Strategic Investment Co.

(Exact Name of Registrant as Specified in Charter)

Maryland 001-39448 46-4380248

(State or other jurisdiction

of incorporation) (Commission File Number) (I.R.S. Employer

Identification No.)

222 Bellevue Avenue, Newport, RI 02840

________________________________________________________________________________________________________ (Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (212) 415-6500

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class: Trading Symbol(s)

Name of each exchange on which registered

Class A common stock, $0.01 par value per share NYC New York Stock Exchange

Class A Preferred Stock Purchase Rights New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On April 15, 2026, American Strategic Investment Co. (the “Company”) issued a press release announcing its results of operations for the quarter and year ended December 31, 2025, and supplemental financial information for the quarter and year ended December 31, 2025, attached hereto as Exhibits 99.1 and 99.2, respectively.

Item 7.01. Regulation FD Disclosure.

Press Release and Supplemental Information

As disclosed in Item 2.02 above, on April 15, 2026, the Company issued a press release announcing its results of operations for the quarter and year ended December 31, 2025, and supplemental financial information for the quarter and year ended December 31, 2025, attached hereto as Exhibits 99.1 and 99.2, respectively. The information set forth in Item 7.01 of this Current Report on Form 8-K and in the attached Exhibits 99.1 and 99.2 is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information set forth in Items 2.02 and 7.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing.

Forward-Looking Statements

The statements in this Current Report on Form 8-K that are not historical facts may be forward-looking statements, , including, without limitation, statements regarding the Company's ability to return to compliance with the New York Stock Exchange's ("NYSE") continued listing standards. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. The words “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “plans,” “intends,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include (a) the anticipated benefits of the Company’s election to terminate its status as a real estate investment trust, (b) whether the Company will be able to successfully acquire new assets or businesses, (c) the potential adverse effects of the geopolitical instability due to the ongoing military conflicts between Russia and Ukraine, Israel and Hamas, and the U.S. and Israel against Iran, including related sanctions and other penalties imposed by the U.S. and European Union, and the related impact on the Company, the Company’s tenants, and the global economy and financial markets, (d) inflationary conditions and higher interest rate environment, (e) that any potential future acquisition or disposition is subject to market conditions and capital availability and may not be completed on favorable terms, or at all, (f) that we may not be able to regain compliance with the NYSE's continued listing requirements and rules, and the NYSE may delist the Company's common stock, which could negatively affect the Company, the price of the Company's common stock and shareholders' ability to sell the Company's common stock, as well as those risks and uncertainties set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed on April 15, 2026 and all other filings with the Securities and Exchange Commission after that date, including but not limited to the subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent report. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results, unless required to do so by law.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1

Press Release dated April 15, 2026

99.2

Supplemental information for the quarter and year ended December 31, 2025

104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

American Strategic Investment Co.

Date: April 15, 2026

By: /s/ NICHOLAS S. SCHORSCH, JR.

NICHOLAS S. SCHORSCH, JR.

Chief Executive Officer

EX-99.1

EX-99.1

Filename: ex991-asicearningsrelease1.htm · Sequence: 2

Document

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

AMERICAN STRATEGIC INVESTMENT CO. ANNOUNCES FOURTH QUARTER 2025 RESULTS

New York, April 15, 2026 - American Strategic Investment Co. (NYSE: NYC) (“ASIC” or the “Company”), a company that owns a portfolio of commercial real estate located within the five boroughs of New York City, announced today its financial and operating results for the fourth quarter and year ended December 31, 2025.

Fourth Quarter 2025 and Subsequent Events

•As the Company continues to refine its property holdings, the sale of 9 Times Square in the fourth quarter of 2024 and the disposition of 1140 Avenue of the Americas to its mortgage holders in the fourth quarter of 2025 impacted results

•Revenue was $6.5 million compared to $14.9 million for the fourth quarter of 2024 due, in part, to the disposition of properties

•Net loss attributable to common stockholders was $6.7 million or $2.62 per share, compared to net loss of $6.7 million, or $2.60 per share, in the fourth quarter of 2024

•Adjusted EBITDA was $1.2 million compared to $1.3 million in the fourth quarter of 2024

•Cash net operating income (“NOI”) was $1.8 million compared to $6.6 million in the fourth quarter of 2024

•69% of annualized straight-line rent from top 10 tenants(1) is derived from investment grade or implied investment grade(2) rated tenants with a weighted-average remaining lease term(3) of 6.9 years as of December 31, 2025

Full Year 2025 Highlights

•Revenue was $43.3 million compared to $61.6 million in 2024 due, in part, to the disposition of properties

•Net loss attributable to common stockholders was $21.2 million compared to $140.6 million in 2024

•Adjusted EBITDA was $0.3 million compared to $12.0 million in the full year 2024

•Cash NOI was $16.0 million compared to $27.6 million in 2024

•Portfolio occupancy of 80.3% with a weighted-average remaining lease term of 6.1 years as of December 31, 2025

•Completed 13 new leases totaling over 117,000 square feet and $20.4 million in straight-line rent

•Portfolio debt, as of December 31, 2025, is 100% fixed-rate with a 4.5% weighted-average interest rate and 1.5 years of weighted-average debt maturity

•Net leverage of 47.5% as of December 31, 2025

CEO Comments

“During the fourth quarter and throughout 2025, we continued to advance leasing across the portfolio while maintaining a stable occupancy profile supported by a high-quality, largely investment grade tenant base,” said Nicholas Schorsch, Jr., CEO of ASIC. “We believe the Company is increasingly well-positioned to execute ongoing efforts to dispose additional non-core assets and prioritize capital to better uses that enhance long-term shareholder value.”

1

Financial Results

Three Months Ended December 31, Year Ended December 31,

(In thousands, except per share data) 2025 2024 2025 2024

Revenue from tenants $ 6,476  $ 14,889  $ 43,275  $ 61,570

Net loss attributable to common stockholders $ (6,696) $ (6,650) $ (21,194) $ (140,591)

Net loss per common share (a)

$ (2.62) $ (2.60) $ (8.32) $ (56.51)

__________

(1)Per share data is based on 2,556,449 and 2,557,080 basic weighted-average shares outstanding for the three months ended December 31, 2025 and 2024, respectively and 2,546,562 and 2,487,827 for the years ended December 31, 2025 and 2024, respectively.

Real Estate Portfolio

The Company’s portfolio consisted of five properties and comprised 0.7 million rentable square feet as of December 31, 2025. Portfolio metrics include:

•80.3% leased, compared to 80.8% at the end of fourth quarter 2024, with 6.1 years remaining weighted-average lease term

•69.0% of annualized straight-line rent(4) from top 10 tenants derived from investment grade or implied investment grade tenants

•67.3% office (based on an annualized straight-line rent)

Capital Structure and Liquidity Resources

As of December 31, 2025, the Company had $1.3 million of cash and cash equivalents(5). The Company’s net debt(6) to gross asset value(7) was 47.5%, with net debt of $249.7 million.

All of the Company’s debt was fixed-rate as of December 31, 2025. The Company’s total combined debt had a weighted-average interest rate of 4.5%(8).

The Company’s debt was a weighted-average debt maturity of 1.5 years.

2

Footnotes/Definitions

(1)Top 10 tenants based on annualized straight-line rent as of December 31, 2025.

(2)As used herein, investment grade includes both actual investment grade ratings of the tenant or guarantor, if available, or implied investment grade. Implied investment grade may include actual ratings of tenant parent, guarantor parent (regardless of whether or not the parent has guaranteed the tenant’s obligation under the lease) or by using a proprietary Moody’s analytical tool, which generates an implied rating by measuring a company’s probability of default. The term “parent" for these purposes includes any entity, including any governmental entity, owning more than 50% of the voting stock in a tenant. Ratings information is as of December 31, 2025. Top 10 tenants are 43.6% actual investment grade rated and 25.4% implied investment grade rated.

(3)The weighted-average remaining lease term (years) is based on annualized straight-line rent as of December 31, 2025.

(4)Annualized straight-line rent is calculated using the most recent available lease terms as of December 31, 2025.

(5)Under one of our mortgage loans, we are required to maintain minimum liquid assets (i.e. cash, cash equivalents and restricted cash) of $5.0 million.

(6)Total debt of $251.0 million less cash and cash equivalents of $1.3 million as of December 31, 2025. Excludes the effect of deferred financing costs, net, mortgage premiums, net and includes the effect of cash and cash equivalents.

(7)Defined as the carrying value of total assets of $445.2 million plus accumulated depreciation and amortization of $80.6 million as of December 31, 2025.

(8)Weighted based on the outstanding principal balance of the debt.

3

Webcast and Conference Call

ASIC will host a webcast and call on April 15, 2026 at 11:00 a.m. ET to discuss its financial and operating results. This webcast will be broadcast live over the Internet and can be accessed by all interested parties through the ASIC website, www.americanstrategicinvestment.com, in the “Investor Relations” section.

Dial-in instructions for the conference call and the replay are outlined below.

To listen to the live call, please go to ASIC’s “Investor Relations” section of the website at least 15 minutes prior to the start of the call to register and download any necessary audio software. For those who are not able to listen to the live broadcast, a replay will be available shortly after the call on the ASIC website at www.americanstrategicinvestment.com.

Live Call

Dial-In (Toll Free): 1-877-269-7751

International Dial-In: 1-201-389-0908

Conference Replay*

Domestic Dial-In (Toll Free): 1-844-512-2921

International Dial-In: 1-412-317-6671

Conference ID: 13758199

*Available one hour after the end of the conference call through April 29, 2026

About American Strategic Investment Co.

American Strategic Investment Co. (NYSE: NYC) owns a portfolio of high-quality commercial real estate located within the five boroughs of New York City. Additional information about ASIC can be found on its website at www.americanstrategicinvestment.com.

Supplemental Schedules

The Company will file supplemental information packages with the Securities and Exchange Commission (the “SEC”) to provide additional disclosure and financial information. Once posted, the supplemental package can be found under the “Presentations” tab in the Investor Relations section of ASIC’s website at www.americanstrategicinvestment.com and on the SEC website at www.sec.gov.

Important Notice Regarding Forward-Looking Statements

The statements in this press release that are not historical facts may be forward-looking statements, including, without limitation, statements regarding the Company’s ability to return to compliance with the New York Stock Exchange’s (“NYSE”) continued listing standards. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. The words “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “plans,” “intends,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include (a) the anticipated benefits of the Company’s election to terminate its status as a real estate investment trust, (b) whether the Company will be able to successfully acquire new assets or businesses, (c) the potential adverse effects of the geopolitical instability due to the ongoing military conflicts between Russia and Ukraine, Israel and Hamas and the U.S. and Israel against Iran, including related sanctions and other penalties imposed by the U.S. and European Union, and the related impact on the Company, the Company’s tenants, and the global economy and financial markets, (d) inflationary conditions and higher interest rate environment, (e) economic uncertainties about the ultimate impact of tariffs imposed by, or imposed on, the United States and its trading relationships, (f) that any potential future acquisition or disposition is subject to market conditions and capital availability and may not be identified or be completed on favorable terms, or at all, and (g) that we may not be able to regain compliance with NYSE’s continued listing requirements and rules, and the NYSE may delist the Company's common stock, which could negatively affect the Company, the price of the Company's common stock and shareholders' ability to sell the Company's common stock, as well as those risks and uncertainties set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed on April 15, 2026 with the United States Securities and Exchange Commission (“SEC”) and all other filings with the SEC after that date, including but not limited to the subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent report. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results, unless required to do so by law.

4

Accounting Treatment of Rent Deferrals

The majority of the concessions granted to our tenants as a result of the COVID-19 pandemic are rent deferrals or temporary rent abatements with the original lease term unchanged and collection of deferred rent deemed probable. As a result of relief granted by the FASB and the SEC related to lease modification accounting, rental revenue used to calculate Net Income, have not been, and we do not expect it to be, significantly impacted by these types of deferrals.

Contacts:

Investors and Media:

Email: investorrelations@americanstrategicinvestment.com

Phone: (866) 902-0063

5

American Strategic Investment Co.

Consolidated Balance Sheets

(In thousands. except share and per share data)

December 31,

2025 2024

ASSETS (Unaudited)

Real estate investments, at cost:

Land $ 114,099  $ 129,517

Buildings and improvements 268,474  341,314

Acquired intangible assets 5,389  19,063

Total real estate investments, at cost 387,962  489,894

Less accumulated depreciation and amortization (80,579) (91,135)

Total real estate investments, net 307,383  398,759

Cash and cash equivalents 1,297  9,776

Restricted cash 6,750  9,159

Contract asset 108,648  —

Operating lease right-of-use asset —  54,514

Prepaid expenses and other assets 3,169  5,233

Straight-line rent receivable 15,421  23,060

Deferred leasing costs, net 2,492  6,565

Total assets $ 445,160  $ 507,066

LIABILITIES AND STOCKHOLDER'S EQUITY

Mortgage notes payable, net $ 249,565  $ 347,384

Debt associated with property in receivership 99,000  —

Accrued interest associated with property in receivership 9,648  —

Accounts payable, accrued expenses and other liabilities (including amounts due to/(from) related parties of $(280) and $317 at December 31, 2025 and 2024, respectively)

18,739  15,302

Note payable to related parties 650  —

Operating lease liability —  54,592

Below-market lease liabilities, net 708  1,161

Deferred revenue 2,094  3,041

Total liabilities 380,404  421,480

Common stock, $0.01 par value, 300,000,000 shares authorized, 2,692,941 and 2,634,355 shares issued and outstanding as of December 31, 2025 and 2024, respectively

27  27

Additional paid-in capital 731,793  731,429

Distributions in excess of accumulated earnings (667,064) (645,870)

Total stockholders' equity 64,756  85,586

Non-controlling interests —  —

Total equity 64,756  85,586

Total liabilities and stockholders' equity $ 445,160  $ 507,066

6

American Strategic Investment Co.

Consolidated Statements of Operations (Unaudited)

(In thousands, except share and per share data)

Three Months Ended December 31, Year Ended December 31,

2025 2024 2025 2024

Revenue from tenants $ 6,476  $ 14,889  $ 43,275  $ 61,570

Operating expenses:

Asset and property management fees to related parties 1,802  1,927  7,281  7,751

Property operating 4,690  8,746  27,454  34,185

Impairment of real estate investments —  —  30,558  112,541

Equity-based compensation 90  92  364  408

General and administrative 1,208  2,690  8,270  9,216

Depreciation and amortization 2,594  3,582  12,816  18,408

Total operating expenses 10,384  17,037  86,743  182,509

Operating loss before gain on disposition of real estate investments (3,908) (2,148) (43,468) (120,939)

Gain (loss) on disposal of real estate investments 3,599  (276) 47,867  (276)

Operating gain (loss) (309) (2,424) 4,399  (121,215)

Other income (expenses):

Interest expense (4,087) (4,311) (15,281) (19,488)

Interest expense associated with property in receivership (2,305) —  (10,318) —

Other income (expenses) 4  85  6  112

Total other expense (6,388) (4,226) (25,593) (19,376)

Net loss before income taxes (6,696) (6,650) (21,194) (140,591)

Income tax expense —  —  —  —

Net loss and Net loss attributable to common stockholders $ (6,696) $ (6,650) $ (21,194) $ (140,591)

Weighted-average shares outstanding — Basic and Diluted 2,556,449  2,557,080  2,546,562  2,487,827

Net loss per share attributable to common stockholders — Basic and Diluted $ (2.62) $ (2.60) $ (8.32) $ (56.51)

7

American Strategic Investment Co.

Quarterly Reconciliation of Non-GAAP Measures (Unaudited)

(In thousands)

Three Months Ended Year Ended

March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 December 31, 2025

Net income (loss) and Net income (loss) attributable to common stockholders $ (8,592) $ (41,660) $ 35,754  $ (6,696) $ (21,194)

Depreciation and amortization 3,591  3,545  3,086  2,594  12,816

Interest expense(1)

4,083  7,850  4,124  4,087  20,144

Interest expense associated with property in receivership (1)

—  —  3,151  2,305  5,456

Income tax expense —  —  —  —  —

EBITDA (918) (30,265) 46,115  2,290  17,222

Impairment of real estate investments —  30,558  —  —  30,558

(Gain) loss on disposition of real estate investments —  —  (44,268) (3,599) (47,867)

Equity-based compensation 92  92  90  90  364

Other income (expenses) (6) (4) 8  (4) (6)

Adjusted EBITDA (832) 381  1,945  (1,223) 271

Asset and property management fees to related parties 1,868  1,682  1,929  1,802  7,281

General and administrative 3,135  2,172  1,755  1,208  8,270

NOI 4,171  4,235  5,629  1,787  15,822

Accretion of below- and amortization of above-market lease liabilities and assets, net (125) (129) (24) (27) (305)

Straight-line rent (revenue as a lessor) 120  348  159  53  680

Straight-line ground rent (expense as lessee) 27  27  (242) —  (188)

Cash NOI $ 4,193  $ 4,481  $ 5,522  $ 1,813  $ 16,009

_____

(1)Interest expense for the three months ended March 31, 2025 and June 30, 2025 includes expense associated with the 1140 Avenue of the Americas property. During the three months ended September 30, 2025, the 1140 Avenue of the Americas property entered into receivership and as a result the interest expense related to the property was disclosed separately as interest expense associated with property in receivership. See the Company’s Form 10-K for details.

8

American Strategic Investment Co.

Quarterly Reconciliation of Non-GAAP Measures (Unaudited)

(In thousands)

Three Months Ended

December 31, 2025

Net loss attributable to common stockholders $ (6,696)

Depreciation and amortization 2,594

Interest expense 4,087

Interest expense associated with property in receivership 2,305

Income tax expense —

EBITDA 2,290

Gain on disposition of real estate assets (3,599)

Equity-based compensation 90

Other (income) loss (4)

Adjusted EBITDA (1,223)

Asset and property management fees to related parties 1,802

General and administrative 1,208

NOI 1,787

Accretion of below- and amortization of above-market lease liabilities and assets, net (27)

Straight-line rent (revenue as a lessor) 53

Straight-line ground rent (expense as lessee) —

Cash NOI $ 1,813

9

Non-GAAP Financial Measures

This release discusses the non-GAAP financial measures we use to evaluate our performance, including Earnings before Interest, Taxes, Depreciation and Amortization (“EBITDA”), Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”), Net Operating Income (“NOI”) and Cash Net Operating Income (“Cash NOI”) and Cash Paid for Interest. A description of these non-GAAP measures and reconciliations to the most directly comparable GAAP measure, which is net loss, is provided above.

In December 2022 we announced that we changed our business strategy and terminated our election to be taxed as a REIT effective January 1, 2023, however, our business and operations have not materially changed in the first quarter of 2023. Therefore, we did not change any of the non-GAAP metrics that we have historically used to evaluate performance.

Caution on Use of Non-GAAP Measures

EBITDA, Adjusted EBITDA, NOI, Cash NOI and Cash Paid for Interest should not be construed to be more relevant or accurate than the current GAAP methodology in calculating net income or in its applicability in evaluating our operating performance. The method utilized to evaluate the value and performance of real estate under GAAP should be construed as a more relevant measure of operational performance and considered more prominently than the non-GAAP metrics.

As a result, we believe that the use of these non-GAAP metrics, together with the required GAAP presentations, provide a more complete understanding of our performance, including relative to our peers and a more informed and appropriate basis on which to make decisions involving operating, financing, and investing activities. However, these non-GAAP metrics are not indicative of cash available to fund ongoing cash needs, including the ability to pay cash dividends. Investors are cautioned that these non-GAAP metrics should only be used to assess the sustainability of our operating performance excluding these activities, as they exclude certain costs that have a negative effect on our operating performance during the periods in which these costs are incurred.

Adjusted Earnings before Interest, Taxes, Depreciation and Amortization, Net Operating Income, Cash Net Operating Income and Cash Paid for Interest.

We believe that EBITDA and Adjusted EBITDA, which is defined as earnings before interest, taxes, depreciation and amortization adjusted for (i) impairment charges, (ii) interest income or other income or expense, (iii) gains or losses on debt extinguishment, (iv) equity-based compensation expense, (v) acquisition and transaction costs, (vi) gains or losses from the sale of real estate investments and (vii) expenses paid with issuances of common stock in lieu of cash is an appropriate measure of our ability to incur and service debt. We consider EBITDA and Adjusted EBITDA useful indicators of our performance. Because these metrics’ calculations exclude such factors as depreciation and amortization of real estate assets, interest expense, and equity-based compensation (which can vary among owners of identical assets in similar conditions based on historical cost accounting and useful-life estimates), these metrics; presentations facilitate comparisons of operating performance between periods and between other companies that use these measures. Adjusted EBITDA should not be considered as an alternative to cash flows from operating activities, as a measure of our liquidity or as an alternative to net income as an indicator of our operating activities. Other companies may calculate Adjusted EBITDA differently and our calculation should not be compared to that of other companies.

NOI is a non-GAAP financial measure used by us to evaluate the operating performance of our real estate. NOI is equal to total revenues, excluding contingent purchase price consideration, less property operating and maintenance expense. NOI excludes all other items of expense and income included in the financial statements in calculating net income (loss). We believe NOI provides useful and relevant information because it reflects only those income and expense items that are incurred at the property level and presents such items on an unleveraged basis. We use NOI to assess and compare property level performance and to make decisions concerning the operations of the properties. Further, we believe NOI is useful to investors as a performance measure because, when compared across periods, NOI reflects the impact on operations from trends in occupancy rates, rental rates, operating expenses and acquisition activity on an unleveraged basis, providing perspective not immediately apparent from net income (loss). NOI excludes certain items included in calculating net income (loss) in order to provide results that are more closely related to a property’s results of operations. For example, interest expense is not necessarily linked to the operating performance of a real estate asset. In addition, depreciation and amortization, because of historical cost accounting and useful life estimates, may distort operating performance at the property level. NOI presented by us may not be comparable to NOI reported by other companies that define NOI differently. We believe that in order to facilitate a clear understanding of our operating results, NOI should be examined in conjunction with net income (loss) as presented in our consolidated financial statements. NOI should not be considered as an alternative to net income (loss) as an indication of our performance or to cash flows as a measure of our liquidity or our ability to pay dividends.

Cash NOI, is a non-GAAP financial measure that is intended to reflect the performance of our properties. We define Cash NOI as NOI excluding amortization of above/below market lease intangibles and straight-line adjustments that are included in GAAP lease revenues. We believe that Cash NOI is a helpful measure that both investors and management can use to evaluate the current financial performance of our properties and it allows for comparison of our operating performance between periods and to other companies. Cash NOI should not be considered as an alternative to net income, as an indication of our financial performance, or to cash flows as a measure of liquidity or our ability to fund all needs. The method by which we calculate and present Cash NOI may not be directly comparable to the way other companies present Cash NOI.

Cash Paid for Interest is calculated based on the interest expense less non-cash portion of interest expense and amortization of mortgage (discount) premium, net. Management believes that Cash Paid for Interest provides useful information to investors to assess

10

our overall solvency and financial flexibility. Cash Paid for Interest should not be considered as an alternative to interest expense as determined in accordance with GAAP or any other GAAP financial measures and should only be considered together with and as a supplement to our financial information prepared in accordance with GAAP.

11

EX-99.2

EX-99.2

Filename: ex992-asicsupplementalinfo.htm · Sequence: 3

Document

EXHIBIT 99.2

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (unaudited)

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

Table of Contents

Item Page

Non-GAAP Definitions 3

Key Metrics 5

Consolidated Balance Sheets 6

Consolidated Statements of Operations 7

Non-GAAP Measures 8

Debt Overview 9

Future Minimum Lease Rents 10

Top Ten Tenants 11

Diversification by Property Type 12

Diversification by Tenant Industry 13

Lease Expirations 14

Please note that totals may not add due to rounding.

Forward-looking Statements:

This supplemental package of American Strategic Investment Co. (formerly known as New York City REIT, Inc.) (the “Company” or “ASIC”) includes statements that are not historical facts and may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. The words “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “plans,” “intends,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include (a) the anticipated benefits of the Company’s election to terminate its status as a real estate investment trust, (b) whether the Company will be able to successfully acquire new assets or businesses, (c) the potential adverse effects of the geopolitical instability due to the ongoing military conflicts between Russia and Ukraine and Israel and Hamas, including related sanctions and other penalties imposed by the U.S. and European Union, and the related impact on the Company, the Company’s tenants, and the global economy and financial markets, (d) inflationary conditions and higher interest rate environment, (e) that any potential future acquisition or disposition is subject to market conditions and capital availability and may not be completed on favorable terms, or at all, (f) that we may not be able to continue to meet the New York Stock Exchange's ("NYSE") continued listing requirements and rules, and the NYSE may delist the Company's common stock, which could negatively affect the Company, the price of the Company's common stock and shareholders' ability to sell the Company's common stock, as well as those risks and uncertainties set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed on March 26, 2026 and all other filings with the Securities and Exchange Commission after that date, including but not limited to the subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent report. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results, unless required to do so by law.

2

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

Non-GAAP Financial Measures

This release discusses the non-GAAP financial measures we use to evaluate our performance, including Earnings before Interest, Taxes, Depreciation and Amortization (“EBITDA”), Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”), Net Operating Income (“NOI”) and Cash Net Operating Income (“Cash NOI”) and Cash Paid for Interest. A description of these non-GAAP measures and reconciliations to the most directly comparable GAAP measure, which is net loss, is provided above.

In December 2022 we announced that we changed our business strategy and terminated our election to be taxed as a REIT effective January 1, 2023, however, our business and operations have not materially changed in the first quarter of 2023. Therefore, we did not change any of the non-GAAP metrics that we have historically used to evaluate performance.

Caution on Use of Non-GAAP Measures

EBITDA, Adjusted EBITDA, NOI, Cash NOI and Cash Paid for Interest should not be construed to be more relevant or accurate than the current GAAP methodology in calculating net income or in its applicability in evaluating our operating performance. The method utilized to evaluate the value and performance of real estate under GAAP should be construed as a more relevant measure of operational performance and considered more prominently than the non-GAAP metrics.

As a result, we believe that the use of these non-GAAP metrics, together with the required GAAP presentations, provide a more complete understanding of our performance, including relative to our peers and a more informed and appropriate basis on which to make decisions involving operating, financing, and investing activities. However, these non-GAAP metrics are not indicative of cash available to fund ongoing cash needs, including the ability to pay cash dividends. Investors are cautioned that these non-GAAP metrics should only be used to assess the sustainability of our operating performance excluding these activities, as they exclude certain costs that have a negative effect on our operating performance during the periods in which these costs are incurred.

Adjusted Earnings before Interest, Taxes, Depreciation and Amortization, Net Operating Income, Cash Net Operating Income and Cash Paid for Interest.

We believe that EBITDA and Adjusted EBITDA, which is defined as earnings before interest, taxes, depreciation and amortization adjusted for (i) impairment charges, (ii) interest income or other income or expense, (iii) gains or losses on debt extinguishment, (iv) equity-based compensation expense, (v) acquisition and transaction costs, (vi) gains or losses from the sale of real estate investments and (vii) expenses paid with issuances of common stock in lieu of cash is an appropriate measure of our ability to incur and service debt. We consider EBITDA and Adjusted EBITDA useful indicators of our performance. Because these metrics’ calculations exclude such factors as depreciation and amortization of real estate assets, interest expense, and equity-based compensation (which can vary among owners of identical assets in similar conditions based on historical cost accounting and useful-life estimates), these metrics; presentations facilitate comparisons of operating performance between periods and between other companies that use these measures. Adjusted EBITDA should not be considered as an alternative to cash flows from operating activities, as a measure of our liquidity or as an alternative to net income as an indicator of our operating activities. Other companies may calculate Adjusted EBITDA differently and our calculation should not be compared to that of other companies.

NOI is a non-GAAP financial measure used by us to evaluate the operating performance of our real estate. NOI is equal to total revenues, excluding contingent purchase price consideration, less property operating and maintenance expense. NOI excludes all other items of expense and income included in the financial statements in calculating net income (loss). We believe NOI provides useful and relevant information because it reflects only those income and expense items that are incurred at the property level and presents such items on an unleveraged basis. We use NOI to assess and compare property level performance and to make decisions concerning the operations of the properties. Further, we believe NOI is useful to investors as a performance measure because, when compared across periods, NOI reflects the impact on operations from trends in occupancy rates, rental rates, operating expenses and acquisition activity on an unleveraged basis, providing perspective not immediately apparent from net income (loss). NOI excludes certain items included in calculating net income (loss) in order to provide results that are more closely related to a property’s results of operations. For example, interest expense is not necessarily linked to the operating performance of a real estate asset. In addition, depreciation and amortization, because of historical cost accounting and useful life estimates, may distort operating performance at the property level. NOI presented by us may not be comparable to NOI reported by other companies that define NOI differently. We believe that in order to facilitate a clear understanding of our operating results, NOI should be examined in conjunction with net income (loss) as presented in our consolidated financial statements. NOI should not be considered as an alternative to net income (loss) as an indication of our performance or to cash flows as a measure of our liquidity or our ability to pay dividends.

Cash NOI, is a non-GAAP financial measure that is intended to reflect the performance of our properties. We define Cash NOI as NOI excluding amortization of above/below market lease intangibles and straight-line adjustments that are included in GAAP lease revenues. We believe that Cash NOI is a helpful measure that both investors and management can use to evaluate the current financial performance of our properties and it allows for comparison of our operating performance between periods and to other companies. Cash NOI should not be considered as an alternative to net income, as an indication of our financial performance, or to cash flows as a

3

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

measure of liquidity or our ability to fund all needs. The method by which we calculate and present Cash NOI may not be directly comparable to the way other companies present Cash NOI.

Cash Paid for Interest is calculated based on the interest expense less non-cash portion of interest expense and amortization of mortgage (discount) premium, net. Management believes that Cash Paid for Interest provides useful information to investors to assess our overall solvency and financial flexibility. Cash Paid for Interest should not be considered as an alternative to interest expense as determined in accordance with GAAP or any other GAAP financial measures and should only be considered together with and as a supplement to our financial information prepared in accordance with GAAP.

4

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

Key Metrics

As of and for the three months ended December 31, 2025

Amounts in thousands, except per share data, ratios and percentages

Financial Results (Amounts in thousands, except per share data)

Revenue from tenants $ 6,476

Net loss attributable to common stockholders $ (6,697)

Basic and diluted net loss per share attributable to common stockholders

$ (2.62)

Cash NOI (1)

$ 1,813

Adjusted EBITDA (1)

$ (1,223)

Balance Sheet and Capitalization (Amounts in thousands, except ratios and percentages)

Gross asset value (2)

$ 525,739

Net debt (3) (4)

$ 249,703

Total consolidated debt (4)

$ 251,000

Total assets $ 445,160

Cash and cash equivalents (5)

$ 1,297

Common shares outstanding as of December 31, 2025

2,693

Net debt to gross asset value 47.5  %

Net debt to annualized adjusted EBITDA (1) (annualized based on quarterly results)

(51.0) x

Weighted-average interest rate cost (6)

4.5  %

Weighted-average debt maturity (years) (7)

1.5

Interest Coverage Ratio (8)

(0.3) x

Real Estate Portfolio

Number of properties 5

Number of tenants 49

Square footage (millions) 0.7

Leased 80.3  %

Weighted-average remaining lease term (years) (9)

6.1

______

(1)These Non-GAAP metrics are reconciled below.

(2)Defined as total assets of $445.2 million plus accumulated depreciation and amortization of $80.6 million as of December 31, 2025.

(3)Represents total debt outstanding of $251.0 million, less cash and cash equivalents of $1.3 million.

(4)Excludes the effect of deferred financing costs, net.

(5)Under the terms of one of the Company’s mortgage loans, the Company is required to maintain minimum liquid assets (i.e. cash, cash equivalents and restricted cash) of $7.5 million.

(6)The weighted average interest rate cost is based on the outstanding principal balance of the debt.

(7) The weighted average debt maturity is based on the outstanding principal balance of the debt.

(8)The interest coverage ratio is calculated by dividing adjusted EBITDA for the applicable quarter by cash paid for interest (calculated based on the interest expense less non-cash portion of interest expense and amortization of mortgage (discount) premium, net). Management believes that Interest Coverage Ratio is a useful supplemental measure of our ability to service our debt obligations. Adjusted EBITDA and cash paid for interest are Non-GAAP metrics and are reconciled below.

(9)Based on annualized straight-line rent as of December 31, 2025.

5

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025

Consolidated Balance Sheets

Amounts in thousands

December 31,

2025 2024

ASSETS (Unaudited)

Real estate investments, at cost:

Land $ 114,099  $ 129,517

Buildings and improvements 268,474  341,314

Acquired intangible assets 5,389  19,063

Total real estate investments, at cost 387,962  489,894

Less accumulated depreciation and amortization (80,579) (91,135)

Total real estate investments, net 307,383  398,759

Cash and cash equivalents 1,297  9,776

Restricted cash 6,750  9,159

Contract asset 108,648  —

Operating lease right-of-use asset —  54,514

Prepaid expenses and other assets 3,169  5,233

Straight-line rent receivable 15,421  23,060

Deferred leasing costs, net 2,492  6,565

Total assets $ 445,160  $ 507,066

LIABILITIES AND STOCKHOLDER'S EQUITY

Mortgage notes payable, net $ 249,565  $ 347,384

Debt associated with property in receivership 99,000  —

Accrued interest associated with property in receivership 9,648  —

Accounts payable, accrued expenses and other liabilities (including amounts due to/(from) related parties of $(280) and $317 at December 31, 2025 and 2024, respectively)

18,739  15,302

Note payable to related parties 650  —

Operating lease liability —  54,592

Below-market lease liabilities, net 708  1,161

Deferred revenue 2,094  3,041

Total liabilities 380,404  421,480

Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued and outstanding at December 31, 2025 and 2024

—  —

Common stock, $0.01 par value, 300,000,000 shares authorized, 2,692,941 and 2,634,355 shares issued and outstanding as of December 31, 2025 and 2024, respectively

27  27

Additional paid-in capital 731,793  731,429

Accumulated other comprehensive earnings (loss) —  —

Distributions in excess of accumulated earnings (667,064) (645,870)

Total stockholders' equity 64,756  85,586

Non-controlling interests —  —

Total equity 64,756  85,586

Total liabilities and stockholders' equity $ 445,160  $ 507,066

6

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

Consolidated Statements of Operations

Amounts in thousands, except share and per share data

Three Months Ended

December 31,

2025 September 30,

2025 June 30, 2025 March 31,

2025

Revenue from tenants $ 6,476  $ 12,269  $ 12,222  $ 12,308

Expenses:

Asset and property management fees to related parties 1,802  1,929  1,682  1,868

Property operating 4,690  6,640  7,987  8,137

Impairment of real estate investments —  —  30,558  —

Equity-based compensation 90  90  92  92

General and administrative 1,208  1,755  2,172  3,135

Depreciation and amortization 2,594  3,086  3,545  3,591

Total expenses

10,384  13,500  46,036  16,823

Operating loss before gain (loss) on disposition of real estate investments (3,908) (1,231) (33,814) (4,515)

Gain (loss) on disposal of real estate investments 3,599  44,268  —  —

Operating gain (loss) (309) 43,037  (33,814) (4,515)

Other expense:

Interest expense (4,087) (4,124) (4,086) (2,985)

Interest expense associated with property in receivership (2,305) (3,151) (3,764) (1,098)

Other income (expense) 4  (8) 4  6

Total other expense, net

(6,388) (7,283) (7,846) (4,077)

Net income (loss) before income taxes (6,696) 35,754  (41,660) (8,592)

Income tax expense —  —  —  —

Net income (loss) and Net income (loss) attributable to common stockholders $ (6,696) $ 35,754  $ (41,660) $ (8,592)

Basic and Diluted Net Income (Loss) Per Share:

Net income (loss) per share attributable to common stockholders — Basic $ (2.62) $ 13.60  $ (16.39) $ (3.39)

Weighted average shares outstanding —Basic 2,546,562  2,554,502  2,541,402  2,533,557

Net income (loss) per share attributable to common stockholders — Diluted $ (2.62) $ 13.60  $ (16.39) $ (3.39)

Weighted average shares outstanding —Diluted 2,546,562  2,629,703  2,541,402  2,533,557

7

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

Non-GAAP Measures

Amounts in thousands, except per share data

Three Months Ended

December 31,

2025 September 30,

2025 June 30, 2025 March 31,

2025

EBITDA:

Net income (loss) and Net income (loss) attributable to common stockholders $ (6,696) $ 35,754  $ (41,660) $ (8,592)

Depreciation and amortization 2,594  3,086  3,545  3,591

Interest expense 4,087  4,124  7,850  4,083

Interest expense associated with property in receivership 2,305  3,151  —  —

EBITDA 2,290  46,115  (30,265) (918)

Gain on disposition of real estate assets (3,599) (44,268) —  —

Impairment of real estate investments —  —  30,558  —

Equity-based compensation 90  90  92  92

Other (income) expense (4) 8  (4) (6)

Management fees paid in common stock to the Advisor in lieu of cash —  —  —  —

Adjusted EBITDA (1,223) 1,945  381  (832)

Asset and property management fees to related parties 1,802  1,929  1,682  1,868

General and administrative 1,208  1,755  2,172  3,135

NOI 1,787  5,629  4,235  4,171

Accretion of below- and amortization of above-market lease liabilities and assets, net (27) (161) (138) (12)

Straight-line rent (revenue as a lessor) 53  102  102  102

Straight-line ground rent (expense as lessee) —  (242) (3) (27)

Cash NOI $ 1,813  $ 5,328  $ 4,196  $ 4,234

8

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

Debt Overview

As of December 31, 2025

Amounts in thousands, except ratios and percentages

Year of Maturity Number of Encumbered Properties

Weighted-Average Debt Maturity (Years) (1)

Weighted-Average Interest Rate (1) (2)

Total Outstanding Balance (3)(4)

2026 —  —  —  % —

2027 1  1.2  4.7  % 140,000

2028 1  2.9  5.1  % 10,000

2029 1  3.6  3.9  % 51,000

Thereafter —  —  —  % —

Total Debt   3  1.5  4.5  % $ 201,000

______

(1)Weighted based on the outstanding principal balance of the debt.

(2)All of the Company’s debt is fixed rate (inclusive of interest rate swaps) as of December 31, 2025.

(3)Excludes the effect of deferred financing costs, net. Current balances as of December 31, 2025 are shown in the year the debt matures.

(4)The total debt for the years ended December 31, 2026 and thereafter does not include the debt related to 400 E. 67th Street and 200 Riverside Boulevard of $50.0 million as this balance was accelerated during November 2025 (see Note 5 in the 2025 Form 10-K) and is therefore due in the year end December 31, 2025.

9

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

Top Ten Tenants

As of December 31, 2025

Amounts in thousands, except percentages

Tenant / Lease Guarantor Property Type Tenant Industry

Annualized SL Rent (1)

SL Rent Percent

Remaining Lease Term (2)

Investment Grade (3)

Planned Parenthood Federation of America, Inc Office / Retail Non-profit $ 3,337,000  12  % 5.6  Yes

Equinox Retail Fitness 2,897,000  10  % 12.9  Yes

The City of New York - The Department of Youth and Community Office Government / Public Administration 2,215,000  8  % 12.0  No

CVS Retail Retail 2,161,000  8  % 8.7  Yes

United States General Services Administration Office Government / Public Administration 2,050,000  7  % 1.5  Yes

NYS Licensing Office Government / Public Administration 1,833,000  6  % 1.6  Yes

Marshalls Retail Retail 1,477,000  5  % 5.8  Yes

Fundera, Inc. Office Financial Services 1,051,000  4  % 3.5  No

Universal Services of America, Office Office Space 1,020,000  4  % —  Yes

Lenox Hill Garage LLC Retail Parking 917,000  3  % 11.5  Yes

Subtotal         18,958,000  67  % 6.9

Remaining portfolio 9,607,000  33  %

Total Portfolio         $ 28,565,000  100  %

——

(1)Calculated using the most recent available lease terms as of December 31, 2025.

(2)Based on straight-line rent as of December 31, 2025.

(3)As used herein, investment grade includes both actual investment grade ratings of the tenant or guarantor, if available, or implied investment grade. Implied investment grade may include actual ratings of tenant parent, guarantor parent (regardless of whether or not the parent has guaranteed the tenant’s obligation under the lease) or by using a proprietary Moody’s analytical tool, which generates an implied rating by measuring a company’s probability of default. Ratings information is as of December 31, 2025. Top 10 tenants are 44% actual investment grade rated and 25% implied investment grade rated.

10

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

Diversification by Property Type

As of December 31, 2025

Amounts in thousands, except percentages

Total Portfolio

Property Type

Annualized SL Rent (1)

SL Rent Percent Square Feet Sq. ft. Percent

Office $ 19,217,070  67  % 424,608  71  %

Retail 8,394,580  29  % 147,996  25  %

Other 953,000  4  % 23,767  4  %

Total   $ 28,564,650  100  % 596,371  100  %

——

(1)Calculated using the most recent available lease terms as of December 31, 2025.

11

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

Diversification by Tenant Industry

As of December 31, 2025

Amounts in thousands, except percentages

Total Portfolio

Industry Type

Annualized SL Rent (1)

SL Rent Percent

Square Feet (2)

Sq. ft. Percent

government / public administration $ 7,722,000  27  % 172,832  29  %

retail 4,029,000  14  % 40,190  7  %

non-profit 3,769,000  13  % 74,775  13  %

office space 2,947,000  10  % 90,072  15  %

Parking 1,833,000  6  % 87,484  15  %

Financial Services 1,179,000  4  % 21,414  4  %

Professional Services 1,050,000  4  % 19,748  3  %

Technology 787,000  3  % 15,136  2  %

fitness 2,897,000  10  % 30,033  5  %

Other [2]

1,598,000  6  % 28,894  5  %

Total   $ 28,565,000  100  % 596,371  100  %

——

(1)Calculated using the most recent available lease terms as of December 31, 2025.

(2)Other includes nine industry types as of December 31, 2025.

12

American Strategic Investment Co.

Supplemental Information

Quarter ended December 31, 2025 (Unaudited)

Lease Expirations

As of December 31, 2025

Year of Expiration Number of Leases Expiring

Annualized SL Rent (1)

Annualized SL Rent Percent Leased Rentable Square Feet Percent of Rentable Square Feet Expiring

(In thousands) (In thousands)

2026 5 1,363  5.0  % 29  5.4  %

2027 8 5,442  20.1  % 124  22.8  %

2028 3 1,154  4.3  % 26  4.7  %

2029 4 1,592  5.9  % 32  5.9  %

2030 2 1,143  4.2  % 29  5.3  %

2031 10 5,466  20.2  % 98  18.0  %

2032 — —  —  % —  —  %

2033 4 1,061  3.9  % 21  3.9  %

2034 2 2,161  8.0  % 10  1.8  %

2035 — —  —  % —  —  %

2036 2 365  1.3  % 10  1.8  %

2037 4 4,048  14.9  % 128  23.5  %

2038 3 2,897  10.7  % 30  5.5  %

2039 — —  —  % —  —  %

2040 — —  —  % —  —  %

2041 — —  —  % —  —  %

Thereafter (> 2041) 2 397  1.5  % 8  1.4  %

Total 49 $ 27,089  100  % 545  100  %

——

(1)Calculated using the most recent available lease terms as of December 31, 2025. Includes tenant concessions, such as free rent, as applicable.

13

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v3.26.1

Cover

Apr. 15, 2026

Entity Listings [Line Items]

Document Type

8-K

Document Period End Date

Apr. 15, 2026

Entity Registrant Name

American Strategic Investment Co.

Entity Incorporation, State or Country Code

MD

Entity File Number

001-39448

Entity Tax Identification Number

46-4380248

Entity Address, Address Line One

222 Bellevue Avenue

Entity Address, City or Town

Newport

Entity Address, State or Province

RI

Entity Address, Postal Zip Code

02840

City Area Code

212

Local Phone Number

415-6500

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

Entity Central Index Key

0001595527

Amendment Flag

false

Class A common stock, $0.01 par value per share

Entity Listings [Line Items]

Title of 12(b) Security

Class A common stock, $0.01 par value per share

Trading Symbol

NYC

Security Exchange Name

NYSE

Class A Preferred Stock Purchase Rights

Entity Listings [Line Items]

Title of 12(b) Security

Class A Preferred Stock Purchase Rights

Security Exchange Name

NYSE

No Trading Symbol Flag

true

X

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

na

Period Type:

duration

X

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

na

Period Type:

duration

X

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

na

Period Type:

duration

X

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:

dei_EntityListingsLineItems

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

na

Period Type:

duration

X

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

na

Period Type:

duration

X

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Boolean flag that is true only for a security having no trading symbol.

+ References

No definition available.

+ Details

Name:

dei_NoTradingSymbolFlag

Namespace Prefix:

dei_

Data Type:

dei:trueItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

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Period Type:

duration

X

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

na

Period Type:

duration

X

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

na

Period Type:

duration

X

- Details

Name:

us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember

Namespace Prefix:

Data Type:

na

Balance Type:

Period Type:

X

- Details

Name:

us-gaap_StatementClassOfStockAxis=us-gaap_PreferredClassAMember

Namespace Prefix:

Data Type:

na

Balance Type:

Period Type: