American Strategic Investment Co. accelerating diversification through divesting

American Strategic Investment Co. intends to accelerate its efforts to evolve and diversify its business. The company has started the process to market for sale its 9 Times Square Midtown Manhattan asset. In addition, the company intends to market for sale its properties located at 123 William Street and 196 Orchard Street. These strategic dispositions are in furtherance of the company’s repositioning of the company’s investment portfolio and expanded business plan to invest in assets beyond Manhattan real estate. The company has also secured an amendment of the loan on 9 Times Square, which extends the maturity date to October 2024, with the option of an additional extension to year-end 2024, to facilitate the proposed sale of the property.