New York City REIT, Inc.: insider trades · United States · SEC (Form 4)

About New York City REIT, Inc.

New York City REIT, Inc. — now known as American Strategic Investment Co. — is a U.S.-listed real estate company traded on the NYSE under the ticker NYC. For French-speaking investors, it is best viewed as a specialized REIT focused on New York City commercial real estate, with an especially concentrated footprint in Manhattan. The company was originally formed to invest in properties across the five boroughs of New York City, with a historic emphasis on office assets and other commercial properties. As a result, its business model is that of a focused property owner/operator rather than a diversified national REIT or a broad-based development platform. The company changed its corporate name from New York City REIT, Inc. to American Strategic Investment Co. in January 2023, while keeping the NYC ticker on the New York Stock Exchange. That rebranding did not materially alter the core investment thesis: the business remains tied to a portfolio of commercial real estate located in New York City, one of the deepest but most cyclical property markets in the United States. This concentration creates meaningful exposure to local employment trends, interest rates, office demand, asset valuation shifts, and refinancing conditions. It is both the company’s defining strength and its main source of risk. Operationally, NYC’s revenue base is driven primarily by leasing commercial space, with economics tied to rental income, occupancy levels, lease renewals, tenant retention, and active asset management. The company’s product set is therefore not a consumer-facing brand or a manufacturing platform, but a portfolio of office and urban commercial properties. As a U.S. REIT, it is structured to benefit from REIT tax treatment, subject to compliance with the relevant federal rules in the United States, and is expected to distribute income in line with REIT requirements. From a competitive standpoint, NYC is differentiated by extreme geographic focus. That gives investors a direct play on New York City commercial real estate, but it also places the company in competition with large national REITs, institutional private owners, and opportunistic capital targeting Manhattan assets. Compared with diversified peers, the company’s profile is more concentrated, and its valuation is often more sensitive to leasing momentum, asset sales, debt management, and market sentiment toward New York office fundamentals. Recent SEC disclosures continue to frame the company as a New York City–centric commercial real estate owner, and the post-2023 corporate transition remains an important reference point for investors. In short, NYC is a niche NYSE-listed U.S. real estate name whose investment case is primarily built on Manhattan-centric asset exposure, operating leverage to leasing conditions, and the evolution of the broader New York office market.