NYC Announces 13,500 Square Feet of New Leasing Activity at 9 Times Square
American Strategic Investment Co. Class A (NYC)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--New York City REIT, Inc. (NYSE: NYC) (“NYC” or the “Company”) announced today that it has signed two non-binding LOIs for new leases with tenants at 9 Times Square. The LOI’s total over 13,500 square feet and $650,000 of annual base rent with a weighted-average lease term of 3.7 years.“We continue to build leasing momentum across our portfolio,” said Michael Weil, CEO of NYC. “The new tenants at 9 Times Square will increase occupancy at the building by 8%, from 62% to 70%, and in our portfolio from 84.4% to 85.6%, assuming definitive leases are signed. The new leases will additionally generate over $650,000 of annual base rent and complete the leasing of all the space formerly occupied by Knotel at 9 Times Square. These leasing achievements are the result of our proactive asset management strategy and the relationships we have built with our tenants.”About New York City REIT, Inc.New York City REIT, Inc. is a publicly traded REIT that owns a portfolio of
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