American Strategic Investment Co. Sees Ownership Change Filing
Ticker: NYC · Form: SC 13D/A · Filed: May 3, 2024 · CIK: 1595527
| Field | Detail |
|---|---|
| Company | American Strategic Investment CO. (NYC) |
| Form Type | SC 13D/A |
| Filed Date | May 3, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.01, $504,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, sec-filing, reit
TL;DR
NYC REIT (ASIC) ownership update filed, group may control shares.
AI Summary
On May 3, 2024, American Strategic Investment Co. filed an amendment (SC 13D/A) to its Schedule 13D. This filing indicates a change in beneficial ownership. The filing lists Bellevue Capital Partners, LLC, along with other entities and individuals like Edward M. Weil, Jr. and Nicholas S. Schorsch, as part of a group that may have shared voting power or investment discretion over the company's securities.
Why It Matters
This filing signals a potential shift in control or influence over American Strategic Investment Co., which could impact its strategic direction and shareholder value.
Risk Assessment
Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or shifts in control, which may lead to increased volatility.
Key Players & Entities
- American Strategic Investment Co. (company) — Subject Company
- Bellevue Capital Partners, LLC (company) — Filing Party / Group Member
- Edward M. Weil, Jr. (person) — Group Member
- Nicholas S. Schorsch (person) — Group Member
- AR Global Investments, LLC (company) — Group Member
- New York City Advisors, LLC (company) — Group Member
- New York City Special Ltd Partnership, LLC (company) — Group Member
FAQ
What is the primary purpose of this SC 13D/A filing?
The filing is an amendment to a Schedule 13D, indicating a change in the beneficial ownership of American Strategic Investment Co. by a group of entities and individuals.
Who are the key entities and individuals listed as group members in this filing?
Key group members include Bellevue Capital Partners, LLC, AR Global Investments, LLC, Edward M. Weil, Jr., New York City Advisors, LLC, New York City Special Ltd Partnership, LLC, and Nicholas S. Schorsch.
What was the former name of American Strategic Investment Co. and when did it change?
The company was formerly known as New York City REIT, Inc. and changed its name on March 13, 2019. It also had prior names including American Realty Capital New York City REIT, Inc. and American Realty Captal New York City REIT, Inc. with name change dates in 2014 and 2013 respectively.
Where is the business address for American Strategic Investment Co. and Bellevue Capital Partners, LLC?
Both companies share the same business address: 222 Bellevue Avenue, Newport, RI 02840.
What is the SIC code for American Strategic Investment Co.?
The Standard Industrial Classification (SIC) code for American Strategic Investment Co. is 6798, which corresponds to Real Estate Investment Trusts.
Filing Stats: 1,775 words · 7 min read · ~6 pages · Grade level 12.8 · Accepted 2024-05-03 16:32:37
Key Financial Figures
- $0.01 — Name of Issuer) Class A common stock, $0.01 par value per share (Title of Class o
- $504,000 — A Common Stock in lieu of approximately $504,000 of fees payable on such date to New Yor
Filing Documents
- eh240477475_13da17-nycreit.htm (SC 13D/A) — 113KB
- 0000950142-24-001265.txt ( ) — 116KB
Security and Issuer
Item 1. Security and Issuer. Unless indicated otherwise, all items left blank remain unchanged and any items which are reported are deemed to amend and supplement the existing items in the Schedule 13D. Capitalized terms used herein without definition shall have the meaning set forth in the Original Schedule 13D.
Source and Amount of Funds or Other Consideration
Item 3. Source and Amount of Funds or Other Consideration.
of the Schedule 13D is amended and supplemented by inserting the
Item 3 of the Schedule 13D is amended and supplemented by inserting the following information: Bellevue Capital Partners On May 1, 2024, New York City Advisors received from the Issuer 83,543 shares of fully vested Class A Common Stock in lieu of approximately $504,000 of fees payable on such date to New York City Advisors pursuant to the Advisory Agreement. All such shares were issued by the Issuer pursuant to the 2020 Advisor Omnibus Incentive Compensation Plan of the Issuer. CUSIP No. 649439205 SCHEDULE 13D Page 10 of 12
Purpose of Transaction
Item 4. Purpose of Transaction.
of the Schedule 13D is amended and supplemented by incorporating
Item 4 of the Schedule 13D is amended and supplemented by incorporating by reference the information set forth in Item 3 above.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer.
of the Schedule 13D is amended and supplemented by incorporating
Item 5 of the Schedule 13D is amended and supplemented by incorporating by reference the information set forth in boxes (11) and (13) of the cover pages to this Amendment for each of the Reporting Persons, and such information is incorporated herein by reference. The percentages reported herein are calculated based upon 2,579,347 outstanding shares of Class A Common Stock as of May 2, 2024. CUSIP No. 649439205 SCHEDULE 13D Page 11 of 12
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: May 3, 2024 BELLEVUE CAPITAL PARTNERS, LLC By: /s/ Michael R. Anderson Name: Michael R. Anderson Title: General Counsel Dated: May 3, 2024 AR GLOBAL INVESTMENTS, LLC By: /s/ Michael R. Anderson Name: Michael R. Anderson Title: General Counsel Dated: May 3, 2024 AMERICAN REALTY CAPITAL III, LLC By: AR GLOBAL INVESTMENTS, LLC , its sole member By: /s/ Michael R. Anderson Name: Michael R. Anderson Title: General Counsel Dated: May 3, 2024 NEW YORK CITY SPECIAL LIMITED PARTNERSHIP, LLC By: AMERICAN REALTY CAPITAL III, LLC , its sole member By: AR GLOBAL INVESTMENTS, LLC , its sole member By: /s/ Michael R. Anderson Name: Michael R. Anderson Title: General Counsel CUSIP No. 649439205 SCHEDULE 13D Page 12 of 12 Dated: May 3, 2024 NEW YORK CITY ADVISORS, LLC By: /s/ Michael R. Anderson Name: Michael R. Anderson Title: Chief Executive Officer Dated: May 3, 2024 NICHOLAS S. SCHORSCH By: /s/ Michael R. Anderson Name: Michael R. Anderson, as Attorney-in-Fact Dated: May 3, 2024 EDWARD M. WEIL, JR. By: /s/ Michael R. Anderson Name: Michael R. Anderson, as Attorney-in-Fact