Form 4: Nicholas S. Schorsch and Related Entities Report Beneficial Ownership Changes in American Strategic Investment Co.

Nicholas S. Schorsch and related entities, including Bellevue Capital Partners, AR Global Investments, and others, filed a Form 4 disclosing changes in their beneficial ownership of American Strategic Investment Co. common stock.

Summary

• Nicholas S. Schorsch, along with Bellevue Capital Partners, LLC (BCP), AR Global Investments, LLC, American Realty Capital III, LLC, New York City Special Ltd. Partnership, LLC, and New York City Advisors, LLC, jointly filed a Form 4.
• The filing reports changes in beneficial ownership of American Strategic Investment Co. (NYC) Class A common stock.
• On May 1, 2024, New York City Advisors, LLC received 83,543 shares of Class A common stock at $0 per share pursuant to the 2020 Advisor Omnibus Incentive Compensation Plan.
• Following the transaction, Mr. Schorsch indirectly owns 520,666 shares through New York City Advisors, LLC, 785,195 shares through BCP, and directly owns 26,559 shares.
• The reporting persons may be deemed members of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding common stock, but they disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It reflects changes in ownership but doesn't inherently indicate positive or negative performance.

Positives

• The receipt of 83,543 shares by New York City Advisors, LLC indicates ongoing compensation and alignment of interests with the advisor.

Risks

• The filing indicates that the reporting persons may be deemed to be members of a Section 13(d) group, which could trigger additional regulatory scrutiny and compliance requirements.

Management Comments

• The Reporting Persons expressly disclaim beneficial ownership of the securities beneficially owned by the other group members.
• Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are standard practice for individuals and entities with significant ownership in publicly traded companies, providing transparency into changes in their holdings.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for individuals and entities exceeding certain ownership thresholds in publicly traded companies, ensuring transparency in the market.
• Similar filings are routinely made by officers, directors, and principal stockholders of other REITs and investment companies, such as those managed by Blackstone, Apollo, or Starwood Capital, when their ownership positions change.

Related Party Transactions

• The issuance of shares to New York City Advisors, LLC, the external advisor of the Issuer, is a related party transaction.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of the company.
• Changes in ownership by significant shareholders can influence investor sentiment and potentially impact the stock price.

Key Dates