SCHEDULE 13D/A: Major Shareholder Group Increases Stake in American Strategic Investment Co. to Over 57%

Bellevue Capital Partners and affiliated entities have significantly increased their beneficial ownership in American Strategic Investment Co. through recent open market purchases, now holding a combined 57.5% of Class A common stock.

Summary

• This document is Amendment No. 21 to the Schedule 13D filing for American Strategic Investment Co. (formerly New York City REIT, Inc.).
• The amendment updates beneficial ownership information and reports recent open market purchases by Bellevue Capital Partners, LLC.
• Bellevue Capital Partners, LLC now beneficially owns 1,514,958 shares, representing 57.5% of the Class A common stock.
• Nicholas S. Schorsch, through various entities, beneficially owns 1,541,517 shares, representing 58.5% of the Class A common stock.
• AR Global Investments, LLC, American Realty Capital III, LLC, New York City Special Limited Partnership, LLC, and New York City Advisors, LLC each beneficially own 520,666 shares, representing 19.8% of the Class A common stock.
• Edward M. Weil, Jr. beneficially owns 109 shares, representing 0.0% of the Class A common stock.
• The percentages are calculated based on 2,634,355 outstanding shares of Class A Common Stock as of March 14, 2025.
• Bellevue Capital Partners, LLC made open market purchases of 27,887 shares between February 14, 2025, and April 15, 2025.
• These purchases were made at weighted average prices ranging from $10.06 to $13.40 per share.

Sentiment

Score: 6

Explanation: The document is a factual disclosure of increased beneficial ownership by a major shareholder group. While not explicitly positive or negative, increased insider ownership can be viewed favorably as a sign of confidence, hence a slightly positive score.

Positives

• Increased beneficial ownership by a significant investor group (Bellevue Capital Partners and affiliates) may signal confidence in the company's future prospects.
• The purchases were made in the open market, indicating a direct investment decision by the reporting persons.

Future Outlook

The document, an ownership disclosure, does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing indicates a significant concentration of ownership in American Strategic Investment Co., a real estate investment trust (REIT). Such substantial insider or affiliated group ownership can influence corporate governance and strategic decisions within the REIT sector, potentially signaling long-term commitment or a desire for greater control over the company's assets and operations.

Stakeholder Impact

• Increased concentration of ownership by Bellevue Capital Partners and affiliated entities could lead to more aligned interests between major shareholders and management, potentially influencing strategic decisions and long-term value for all shareholders.
• The significant stake held by Nicholas S. Schorsch and related entities suggests a strong controlling interest, which could impact corporate governance and the influence of minority shareholders.

Key Dates

Recommendation

Keywords

American Strategic Investment Co., New York City REIT, Schedule 13D, Beneficial Ownership, Bellevue Capital Partners, AR Global Investments, Nicholas S. Schorsch, Class A Common Stock, SEC Filing, Open Market Purchases, Real Estate Investment Trust, REIT