American Strategic Investment (NYSE:NYC), a real estate investment trust specializing in commercial properties within New York City’s five boroughs, released its financial and operating results for the fourth quarter and full year ended December 31, 2025.
The company’s performance was significantly shaped by a strategic narrowing of its property holdings, most notably the fourth-quarter disposition of 1140 Avenue of the Americas to its mortgage holders and the previous sale of 9 Times Square in late 2024.
Reflecting these asset exits, quarterly revenue fell to $6.5 million, down from $14.9 million in the prior-year period.
Cash net operating income (NOI) similarly decreased to $1.8 million from $6.6 million in the fourth quarter of 2024.
Despite the lower revenue base, the company managed to maintain a relatively stable bottom line, reporting a net loss attributable to common stockholders of $6.7 million, or $2.62 per share, nearly unchanged from the $6.7 million loss recorded a year earlier.
Adjusted EBITDA for the quarter stood at $1.2 million, compared to $1.3 million in the same period of 2024.
Operational metrics indicate a continued focus on tenant quality within the remaining portfolio.
As of December 31, 2025, 69% of the company’s annualized straight-line rent from its top 10 tenants was derived from investment-grade or implied investment-grade rated entities.
Furthermore, these top-tier leases maintained a weighted-average remaining term of 6.9 years, providing a layer of stability to the company's core income stream as it continues to refine its New York City commercial footprint.