Nicholas S. Schorsch, a key stakeholder of American Strategic Investment Co. (NYSE: NYC), increased its holdings through a series of new transactions. According to a Form 4 filing with the Securities and Exchange Commission, Schorsch acquired a total of 4,055 shares of Class A common stock in three transactions made on January 10, 13, and 14, 2025. The purchases were made at prices ranging from $8.66 to $9.04 per share, amounting to a total cost of $36,069. The company, which currently trades at $8.99 with a market capitalization of $24 million, appears to be undervalued according to InvestingPro analysis.

Transactions are made indirectly through Bellevue Capital Partners (WA:), LLC, of ​​which Schorsch is the sole managing member with voting and investment discretion. This filing highlights Schorsch’s continued investment in the company, which operates as a real estate investment trust. InvestingPro The data shows that the company trades at a low Price/Book ratio of 0.26, although it maintains a weak financial health score. Subscribers can access 8 additional ProTips and comprehensive analysis via the Pro Research Report.

Following these transactions, Schorsch’s total beneficial ownership of American Strategic Investment Co.

In other recent news, American Strategic Investment Co. made significant steps in the strategic financial plan. The company reported third quarter earnings for 2024, revealing an increase in cash net operating income (NOI) and a 70 basis point increase in occupancy rate to 85.8%. However, a GAAP net loss of $34.5 million was also reported, primarily due to non-cash impairment, and a slight decrease in revenue to $15.4 million from $16 million in the same quarter last year.

The company concluded the sale of its 9 Times Square property in Midtown Manhattan for a gross purchase price of $63.5 million, an important step in its strategy to optimize its portfolio. This transaction is particularly important, given the company’s heavy debt burden. The buyer, 9 Times Square Acquisitions, LLC, has no other material relationship with the seller.

These recent developments underscore American Strategic Investment’s focus on long-term value creation through strategic portfolio management, including asset divestiture. The company is also marketing the properties at 123 William Street and 196 Orchard for sale, with the intention of investing the proceeds from these sales in higher yielding properties outside of New York City. This shows the company’s confidence in its proactive asset management strategy.

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