American Strategic Investment Co. Announces Fourth Quarter 2023 Results
American Strategic Investment Co. Class A (NYC)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--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, 2023.Fourth Quarter 2023 and Subsequent EventsRevenue was $15.4 millionNet loss attributable to common stockholders was $73.9 million or $32.27 per share including a non-cash impairment on an office propertyAdjusted EBITDA of $3.4 millionCash net operating income was $6.3 millionFunds from Operations (“FFO”) was negative $1.5 million, or negative $0.65 per shareCore FFO was negative $1.2 million, or negative $0.52 per share79% 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 8.6 years as of December 31, 2023Full Year 2023 HighlightsRevenue w
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