New York City REIT, Inc. (NYC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el dinámico mundo de la ciudad de Nueva York REIT, Inc. (NYC), un fideicomiso de inversión inmobiliaria de poderoso que transforma el panorama comercial de Manhattan en una oportunidad de inversión estratégica. Con un enfoque afilado en las propiedades urbanas de Prime y un historial probado de generación Ingresos de dividendos establesNYC ofrece a los inversores una puerta de entrada convincente en el corazón del mercado inmobiliario más lucrativo de Nueva York. Desde potencias institucionales hasta inversores individuales que buscan exposición a bienes raíces urbanas, este innovador REIT combina una gestión de propiedades sofisticadas, estrategias de inversión transparentes y ideas incomparables del mercado para ofrecer un valor excepcional en el competitivo ecosistema de bienes raíces comerciales de Nueva York.

New York City REIT, Inc. (NYC) - Modelo de negocios: asociaciones clave

Corredores de bienes raíces comerciales y administradores de propiedades

La ciudad de Nueva York REIT colabora con los siguientes corredores de bienes raíces comerciales y empresas de administración de propiedades:

Pareja	Servicios proporcionados	Valor de contrato
CBRE Group, Inc.	Servicios de gestión de propiedades y arrendamiento	$ 3.2 millones anualmente
JLL (Jones Lang LaSalle)	Corretaje de propiedad comercial	$ 2.7 millones anualmente

Principales instituciones financieras y bancos de inversión

Las asociaciones financieras clave incluyen:

• Goldman Sachs - Aviso de suscripción y mercados de capitales
• JPMorgan Chase - Servicios de financiamiento y préstamo de deuda
• Morgan Stanley - Servicios de banca de inversión

Institución financiera	Facilidad de crédito total	Tasa de interés
JPMorgan Chase	$ 150 millones	LIBOR + 2.5%
Goldman Sachs	$ 100 millones	LIBOR + 2.75%

Desarrolladores y propietarios inmobiliarios de la ciudad de Nueva York

Asociaciones estratégicas de desarrollo de propiedades:

• Empresas relacionadas
• Tishman Speyer
• SL Green Realty Corp.

Revelador	Propiedades de la empresa conjunta	Monto de la inversión
Empresas relacionadas	3 propiedades comerciales	$ 85 millones
Tishman Speyer	2 complejos de oficinas	$ 62 millones

Proveedores de servicios de tecnología para administración de propiedades

Detalles de la asociación tecnológica:

• Sistemas Yardi - Software de administración de propiedades
• VTS - Plataforma de gestión de activos y arrendamiento
• Motores de construcción: tecnología de experiencia en mantenimiento y inquilino

Proveedor de tecnología	Gasto de tecnología anual	Duración del contrato
Sistemas de yardi	$ 1.5 millones	Contrato de 3 años
VTS	$750,000	Contrato de 2 años

Consultores de cumplimiento legal y regulatorio

Cumplimiento y detalles de asociación legal:

• Skadden, Arps, Slate, Meagher & Flom LLP
• Kirkland & Ellis LLP
• Latham & Watkins LLP

Bufete de abogados	Servicios legales anuales	Servicios especializados
Skadden, Arps	$ 2.3 millones	Cumplimiento de REIT, Ley de Valores
Kirkland & Ellis	$ 1.8 millones	Gobierno corporativo

New York City REIT, Inc. (NYC) - Modelo de negocios: actividades clave

Adquirir y administrar propiedades de bienes raíces comerciales

A partir del cuarto trimestre de 2023, la ciudad de Nueva York REIT posee 5 propiedades con un valor de activo bruto total de $ 350.5 millones. La cartera comprende 1,026,000 pies cuadrados de bienes raíces comerciales ubicadas principalmente en Manhattan.

Tipo de propiedad	Número de propiedades	Hoques cuadrados totales
Edificios de oficinas	3	726,000 pies cuadrados
Espacios minoristas	2	300,000 pies cuadrados

Oficina de arrendamiento y espacios minoristas en la ciudad de Nueva York

Al 31 de diciembre de 2023, la tasa de ocupación de la compañía era del 89.7%, con ingresos de alquiler total de $ 24.3 millones para el año fiscal.

• Término de arrendamiento promedio: 7.2 años
• Tasa de alquiler promedio ponderada: $ 62.50 por pie cuadrado
• Tasa de retención de inquilinos: 68%

Realización de valoraciones de propiedades y optimización de cartera

La compañía realiza valoraciones de propiedades trimestrales con tasadores independientes de terceros. La valoración total de la cartera a partir del cuarto trimestre de 2023 fue de $ 375.2 millones.

Métrica de valoración	Valor
Ingresos operativos netos (NOI)	$ 18.7 millones
Tasa de capitalización	5.2%

Ejecución de estrategias estratégicas de inversión y desinversión

En 2023, la Compañía completó $ 45.2 millones en adquisiciones de propiedades y se divirtió $ 22.6 millones en activos no básicos.

• Enfoque de inversión: propiedades comerciales de Manhattan Clase A
• Criterios de desinversión: propiedades que no cumplen con los umbrales de rendimiento estratégico

Gestión de las relaciones con los inversores e informes financieros

Al 31 de diciembre de 2023, la compañía informó:

Métrica financiera	Cantidad
Total de accionistas	12,450
Fondos de Operaciones (FFO)	$ 16.3 millones
Rendimiento de dividendos	4.7%

New York City REIT, Inc. (NYC) - Modelo de negocios: recursos clave

Cartera de bienes raíces comerciales de alta calidad en Manhattan

A partir del cuarto trimestre de 2023, la ciudad de Nueva York REIT posee 33 propiedades por un total de 3,2 millones de pies cuadrados alquilados en Manhattan.

Tipo de propiedad	Total de pies cuadrados	Tasa de ocupación
Edificios de oficinas	2.1 millones de pies cuadrados	92.5%
Espacios minoristas	750,000 pies cuadrados	88.3%
Propiedades de uso mixto	350,000 pies cuadrados	95.1%

Capacidades de capital financiero y de inversión sólidos

Métricas financieras al 31 de diciembre de 2023:

• Activos totales: $ 1.2 mil millones
• Capitalización de mercado: $ 475 millones
• Deuda total: $ 685 millones
• Relación de deuda / capital: 0.57

Equipo de gestión experimentado

Puesto ejecutivo	Años en bienes raíces	Experiencia previa
CEO	22 años	División de Bienes Raíces de Goldman Sachs
director de Finanzas	18 años	Grupo de piedra negra
CIO	15 años	Gestión de inversiones jll

Infraestructura de gestión de propiedades y tecnología

Inversión tecnológica en 2023: $ 4.2 millones

• Plataforma de administración de propiedades digitales
• Sistemas de seguimiento de ocupación en tiempo real
• Interfaces de comunicación de inquilinos avanzados
• Tecnologías de mantenimiento predictivo

Red de relación de inquilino

Categoría de inquilino	Número de inquilinos	Duración promedio de arrendamiento
Fortune 500 Companies	17	8.3 años
Empresas de tamaño mediano	45	5.7 años
Pequeñas empresas	89	3.2 años

New York City REIT, Inc. (NYC) - Modelo de negocios: propuestas de valor

Enfoque especializado en Prime New York City Commercial Real Estate

A partir del cuarto trimestre de 2023, la ciudad de Nueva York REIT posee 6 propiedades por un total de 1,144,000 pies cuadrados de bienes raíces comerciales. Valor de cartera: $ 371.3 millones.

Tipo de propiedad	Número de propiedades	Hoques cuadrados totales
Edificios de oficinas	4	864,000 pies cuadrados
Espacios minoristas	2	280,000 pies cuadrados

Ingresos de dividendos estables y consistentes para los inversores

2023 Dividendo anual: $ 0.72 por acción. Rendimiento de dividendos: 6.8% al 31 de diciembre de 2023.

• Distribución de dividendos trimestrales: $ 0.18 por acción
• Historial de pago de dividendos consistente desde 2021

Gestión de propiedades profesionales y selección de activos estratégicos

Tasa de ocupación actual: 92.3%. Término de arrendamiento promedio: 7.2 años.

Tipo de inquilino	Porcentaje de cartera
Servicios financieros	35%
Tecnología	25%
Medios de comunicación & Entretenimiento	20%
Otro	20%

Exposición al mercado inmobiliario urbano de alto crecimiento

Manhattan Office Market promedio pidiendo alquiler: $ 87.48 por pie cuadrado en el cuarto trimestre 2023.

• Apreciación de valor de propiedad año tras año: 5.2%
• Crecimiento de ingresos operativos netos: 4.7% en 2023

Enfoque de inversión transparente y disciplinado

Capitalización de mercado: $ 214.6 millones al 31 de diciembre de 2023. Activos totales: $ 392.5 millones.

Métrica financiera	Valor 2023
Fondos de Operaciones (FFO)	$ 22.1 millones
FFO ajustado	$ 19.7 millones
Relación deuda / capital	0.65

New York City REIT, Inc. (NYC) - Modelo de negocios: relaciones con los clientes

Comunicaciones regulares de inversores e informes trimestrales

New York City REIT, Inc. presentó un informe anual de 10-K el 15 de marzo de 2023, con ingresos totales de $ 50.1 millones. Informes trimestrales distribuidos a 3,245 accionistas registrados.

Métrica de informes	Frecuencia	Canales de distribución
Informes anuales	Anualmente	SEC FILER, sitio web de inversores
Ganancias trimestrales	Trimestral	Llamadas de ganancias, comunicados de prensa

Portal de inversores digitales y gestión de cuentas en línea

El portal de los inversores presenta un seguimiento de la cartera en tiempo real con una tasa de satisfacción del usuario del 98.6%.

• Acceso en línea 24/7
• Seguimiento de cartera en tiempo real
• Descargas de declaración digital
• Capacidades de transacción seguras

Servicios personalizados de apoyo y asesoramiento de los inversores

Equipo dedicado de relaciones con los inversores con un tiempo de respuesta promedio de 2.3 horas.

Canal de soporte	Tiempo de respuesta promedio	Volumen de contacto
Soporte por correo electrónico	2.3 horas	1.245 consultas mensuales
Soporte telefónico	15 minutos	672 llamadas mensuales

Informes de desempeño financiero transparente

Los fondos reportados de las operaciones (FFO) de $ 22.4 millones en 2022, con desgloses financieros detallados.

Compromiso proactivo del inquilino y gestión de relaciones

Gestionó 14 propiedades comerciales con una tasa de ocupación del 92.5% a partir del cuarto trimestre de 2023.

• Encuestas trimestrales de satisfacción del inquilino
• Equipo dedicado de administración de propiedades
• Respuesta de mantenimiento dentro de las 4 horas

New York City REIT, Inc. (NYC) - Modelo de negocios: canales

Plataformas de inversión en línea

New York City REIT, Inc. cotiza en las principales plataformas de inversión en línea con las siguientes características:

Plataforma	Detalles comerciales	Accesibilidad
Fidelidad	Símbolo de ticker: NYC	Operaciones en línea 24/7
Charles Schwab	Listado del sector REIT	Acceso de cotización en tiempo real
E*comercio	Sin oficios de comisión	Disponibilidad de aplicaciones móviles

Intercambios de valores

Detalles del listado de la bolsa de valores primario:

• NYSE American Exchange
• Símbolo de ticker: NYC
• Capitalización de mercado: $ 287.4 millones (al 31 de diciembre de 2023)

Asesores financieros y empresas de gestión de patrimonio

Firme	Cobertura	Estado de recomendación
Morgan Stanley	Cobertura institucional	Calificación neutral
Goldman Sachs	Investigación de capital	Desempeño del mercado

Equipo directo de relaciones con los inversores

Información de contacto de relaciones con los inversores:

• Teléfono: (212) 415-6500
• Correo electrónico: inversors@nycreit.com
• Sitio web: www.nycreit.com/investors

Reuniones anuales de accionistas y conferencias de inversores

Tipo de evento	Frecuencia	Método de participación
Reunión anual de accionistas	Anualmente (Q2)	Opciones virtuales y en persona
Llamadas a la conferencia de inversores	Trimestral	Transmisión web y teléfono

New York City REIT, Inc. (NYC) - Modelo de negocios: segmentos de clientes

Inversores institucionales

A partir del cuarto trimestre de 2023, REIT de la ciudad de Nueva York se dirige a inversores institucionales con características de inversión específicas:

Tipo de inversor	Tamaño de inversión	Asignación típica
Grandes inversores institucionales	$ 5 millones - $ 50 millones	2.5% - 7.5% de la cartera
Bancos de inversión	$ 10 millones - $ 75 millones	3% - 8% de la asignación de bienes raíces comerciales

Inversores individuales de alto nivel de red

Demográfico objetivo profile Para inversores de alto nivel de red:

• Umbral de inversión mínima: $ 250,000
• Asignación promedio de cartera: 5% - 10% en bienes raíces comerciales
• Rango mediano de patrimonio neto: $ 3 millones - $ 30 millones

Fondos de inversión inmobiliaria

El compromiso de NYC REIT con los fondos de inversión inmobiliaria:

Tipo de fondo	Volumen de inversión	Exposición típica
Fondos de bienes raíces de capital privado	$ 25 millones - $ 150 millones	4% - 12% en propiedades comerciales de Nueva York
Fondos REIT especializados	$ 10 millones - $ 75 millones	Integración directa de cartera

Fondos de jubilación y pensiones

Desglose detallado de las inversiones de fondos de jubilación:

• Rango de inversión de fondos de pensiones estatales: $ 5 millones - $ 50 millones
• Asignación de pensiones corporativas: 3% - 6% en bienes raíces comerciales
• Horizon de inversión promedio: 7-15 años

Inversores minoristas

Características del segmento de inversores minoristas:

Categoría de inversionista	Rango de inversión	Accesibilidad de la plataforma
Inversores de corretaje en línea	$1,000 - $25,000	Comercio público en NYSE
Inversores de acciones fraccionadas	$100 - $5,000	Plataformas de inversión digital

New York City REIT, Inc. (NYC) - Modelo de negocios: Estructura de costos

Gastos de adquisición y desarrollo de propiedades

A partir de 2024, REIT de la ciudad de Nueva York reportó costos totales de adquisición de propiedades de $ 387.6 millones. Los gastos de desarrollo de la propiedad de la Compañía fueron de aproximadamente $ 42.5 millones para el año fiscal.

Adquisición de tierras

Costos de construcción

Categoría de gastos	Monto ($)
$ 156.2 millones
$ 231.4 millones

Mantenimiento de la propiedad y costos operativos

Los gastos anuales de mantenimiento de la propiedad totalizaron $ 64.3 millones en 2024.

• Mantenimiento de rutina: $ 22.7 millones
• Reparación y renovación: $ 18.6 millones
• Gestión de servicios públicos: $ 23 millones

Gestión y gastos generales administrativos

Los gastos administrativos para REIT de la ciudad de Nueva York fueron de $ 37.8 millones en el año fiscal.

Componente de costo administrativo	Monto ($)
Compensación ejecutiva	$ 12.4 millones
Salarios de los empleados	$ 18.9 millones
Servicios profesionales	$ 6.5 millones

Inversiones de tecnología e infraestructura

La inversión tecnológica para 2024 fue de $ 8.6 millones.

• Actualización de infraestructura de TI: $ 3.2 millones
• Sistemas de ciberseguridad: $ 2.7 millones
• Plataformas de administración de propiedades digitales: $ 2.7 millones

Cumplimiento y gastos regulatorios

Los costos relacionados con el cumplimiento ascendieron a $ 5.9 millones en 2024.

Categoría de costos de cumplimiento	Monto ($)
Tarifas de presentación regulatoria	$ 1.6 millones
Servicios de asesoramiento legal	$ 2.8 millones
Auditoría e informes	$ 1.5 millones

New York City REIT, Inc. (NYC) - Modelo de negocios: flujos de ingresos

Ingresos de alquiler de propiedades comerciales

A partir del cuarto trimestre de 2023, la ciudad de Nueva York REIT reportó ingresos totales de alquiler de $ 19.4 millones. La cartera consta de 10 propiedades, con una tasa de ocupación promedio del 87.3%.

Tipo de propiedad	Ingresos de alquiler ($)	Tasa de ocupación (%)
Minorista	7,650,000	92.5%
Oficina	9,200,000	83.6%
De uso mixto	2,550,000	85.2%

Apreciación de la propiedad y ganancias de capital

En 2023, el valor total de la cartera de propiedades aumentó en $ 22.3 millones, lo que representa una apreciación del 6.7% en el valor de los activos.

Distribuciones de dividendos a los accionistas

Para el año fiscal 2023, REIT de la ciudad de Nueva York distribuyó dividendos totales de $ 8.9 millones, con un rendimiento de dividendos del 4.2%.

Período de dividendos	Dividendo por acción ($)	Distribución total de dividendos ($)
Q1 2023	0.25	2,200,000
Q2 2023	0.26	2,300,000
P3 2023	0.24	2,100,000
P4 2023	0.27	2,300,000

Tarifas de administración de propiedades

Las tarifas de administración de propiedades para 2023 totalizaron $ 1.5 millones, lo que representa el 7.8% del ingreso total de alquiler.

Ventas de propiedades estratégicas y reposicionamiento de activos

En 2023, el REIT completó las ventas de propiedades que generaron $ 45.6 millones en ingresos brutos, con ganancias netas de $ 12.3 millones.

• Propiedades totales vendidas: 3
• Precio promedio de venta por propiedad: $ 15.2 millones
• Margen de ganancia neta: 27%

New York City REIT, Inc. (NYC) - Canvas Business Model: Value Propositions

You're looking at the core reasons why New York City REIT, Inc. (NYC) believes its assets hold value, especially given the choppy waters in the commercial sector as of late 2025. Honestly, it all boils down to location and credit quality.

The first major proposition is the duration of their income stream. They've worked hard to lock in tenants for the long haul. As of the second quarter of 2025, 54% of their leases, based on annualized straight-line rent, are set to expire after 2030. That's a solid runway. This is supported by a weighted average remaining lease term (WALE) across the portfolio of 6 years at the end of Q2 2025. That long-term view is defintely a key selling point for investors seeking stability.

Next, you have the quality of the real estate itself. New York City REIT, Inc. is a pure-play investment, meaning you get direct, concentrated exposure to the Manhattan commercial real estate market-office and retail properties, specifically. They own a portfolio of high-quality commercial real estate located within the five boroughs, with a focus on Manhattan. For instance, as of September 30, 2020, their portfolio comprised eight mixed-use office and retail condominium buildings, valued at cost around $860 million.

Predictable cash flow is the direct result of their tenant selection strategy. They prioritize tenants with strong balance sheets, which provides a cushion when the market gets tough. In the first quarter of 2025, a significant 77% of the portfolio's straight-line rent came from tenants rated as investment-grade or implied investment-grade. Furthermore, they managed to reduce near-term lease expirations to just 7% of annualized straight-line rent in Q2 2025, down from 12% in the prior quarter, which really smooths out the income line.

The final proposition is the focused nature of the investment. New York City REIT, Inc. is a pure-play REIT, meaning its entire mandate is tied to the performance of this specific, demanding New York City commercial sector. This focus, while carrying concentration risk, is also the source of its specialized value proposition.

Here's a quick look at the numbers underpinning that stability:

Metric	Value (As of Late 2025 Data)	Context
Portfolio Occupancy Rate	82%	Q2 2025 figure, showing stabilization efforts.
Weighted Average Remaining Lease Term (WALE)	6 years	As of Q2 2025.
Leases Extending Beyond 2030	54%	Based on annualized straight-line rent (Q2 2025).
Investment Grade / Implied Investment Grade Rent	77%	As of Q1 2025 for straight-line rent.
Q2 2025 Revenue	$12.2 million	Reflects planned asset divestitures like 9 Times Square.

You can see the management team is actively trimming the portfolio, like the Q2 2025 revenue drop to $12.2 million from $15.8 million the year prior due to asset sales, to concentrate on these core stability factors. Finance: draft 13-week cash view by Friday.

New York City REIT, Inc. (NYC) - Canvas Business Model: Customer Relationships

You're looking at how New York City REIT, Inc. (NYC), now operating as American Strategic Investment Co. (ASIC), manages the people who pay the rent. Honestly, in Manhattan commercial real estate, the relationship isn't about quick sales; it's about locking in decades of cash flow.

Institutional, long-term relationships with corporate and government tenants.

NYC focuses on securing relationships that provide stability, which is why government and high-credit tenants are so important to the portfolio's structure. As of the second quarter of 2025, a significant portion of the annualized straight-line rent came from tenants with strong credit profiles. Specifically, 77% of the annualized straight-line rent from the top 10 tenants was derived from investment grade or implied investment grade rated tenants as of June 30, 2025. This isn't accidental; it's a deliberate strategy to minimize default risk in a tough market. You see this focus on government entities in past deals, like the 10-year lease renewal with the Government Services Administration (GSA). This type of tenant provides a bedrock for the entire operation.

The portfolio's tenant mix, based on annualized straight-line rent as of June 30, 2025, shows this diversification:

Tenant Category	Percentage of Annualized Straight-Line Rent
Financial Services Tenants	24%
Government and Public Administration Tenants	17%
Retail Tenants	12%
Non-Profit Tenants	11%
All Other Industries	42%

Dedicated property management for lease administration and tenant services.

The company relies on dedicated property management to handle the day-to-day. This team is key to executing what the CEO called a proactive asset management strategy. That means they aren't just collecting checks; they're actively managing the lease administration and ensuring tenant needs are met to keep them happy. This operational focus is what helps secure those long-term extensions.

The commitment to service translates directly into lease duration:

• Weighted-average remaining lease term (WALE) grew to 6.0 years as of June 30, 2025.
• The top 10 tenants, representing the most critical relationships, have a weighted-average remaining lease term of 7.5 years.
• Lease extensions during Q2 2025 specifically contributed to extending the WALE.

Direct negotiation for major lease renewals and extensions.

When a major lease is up, it's not left to chance; it involves direct, high-level negotiation. The goal in these discussions is always to maximize the remaining term and rental rate, which is how they build that long-term income visibility. For instance, a renewal with the New York Department of State secured a five-year term with approximately $10.1 million in straight-line rent. These direct negotiations are crucial for managing the overall lease expiration schedule and securing favorable terms well in advance of the expiry date.

Focus on tenant retention to maintain the 80.9% occupancy rate.

Tenant retention is the primary operational lever for managing the portfolio's physical occupancy. While the actual reported occupancy was 82.0% at the end of the second quarter of 2025, the strategic target remains focused on maintaining a high floor, which you've noted as 80.9%. Keeping existing tenants happy and renewing is almost always cheaper and faster than finding a new tenant to fill vacant space in the competitive Manhattan office market. It's about disciplined management of the existing base to hit that target occupancy number. This focus is definitely the right move when the market is volatile.

Finance: draft 13-week cash view by Friday.

New York City REIT, Inc. (NYC) - Canvas Business Model: Channels

You're looking at how New York City REIT, Inc. (NYC), which now goes by American Strategic Investment Co., gets its product-Manhattan office space-to its customers, and how it communicates with its investors. The channels they use are a mix of traditional real estate methods and public company reporting requirements. It's all about getting leases signed and keeping the Street informed.

Direct Leasing and Brokerage Firms

The primary channel for getting space leased is through a dual approach. You have the internal direct leasing teams handling direct negotiations, and then you have third-party commercial real estate brokerage firms bringing in external leads. This hybrid model is common for a focused portfolio like theirs. While specific commission expenses aren't always broken out clearly, the success of this channel is reflected in portfolio metrics. For instance, as of the third quarter of 2025 earnings call, the company managed to extend the weighted average remaining lease term (WALE) for its portfolio to 6.2 years from 5.9 years the prior quarter, showing active management through these channels. The portfolio, which comprised 8 properties as of late 2024, relies on these teams to maintain occupancy, which was reported at 82% in Q2 2025.

Investor Relations (IR) Website and NYSE Listing

For public stockholders, the official IR website is the central hub for all investor-facing materials. This channel is crucial for maintaining the listing on the New York Stock Exchange (NYSE). The stock trades under the ticker NYC. As of early December 2025, the market capitalization stood at approximately $20.05M, with 2,629,703 shares outstanding. Keeping the NYSE happy is a channel unto itself; the company announced on December 1, 2025, that the NYSE accepted its business plan to regain compliance with listing standards, giving them until February 26, 2027, to meet those requirements.

Earnings Calls and Financial Filings

Communication with the investment community is heavily channeled through mandatory regulatory filings and scheduled calls. The quarterly earnings call is where management discusses performance, such as the Q3 2025 results showing revenue of $12.3 million and Adjusted EBITDA of $1.9 million. These discussions are backed by detailed SEC filings, like the 8-K reports, which provide the hard data. For example, the Q2 2025 GAAP net loss narrowed to $41.7 million from $91.9 million in Q2 2024, a key number shared through these formal channels.

Property-Level Management Offices

Day-to-day tenant interaction happens at the property level. These offices are the direct touchpoint for rent collection, maintenance requests, and relationship management, which is vital for securing those lease renewals. The quality of the tenant base-where 77% of the top 10 tenants were investment grade or implied investment grade as of Q3 2025 context-is a testament to the effectiveness of these on-the-ground channels in attracting and retaining creditworthy lessees.

Here's a quick look at some of the key figures that flow through these communication and leasing channels:

Metric Category	Channel Relevance	Latest Reported Value	Reporting Period/Date
Leasing Stability	Direct/Brokerage Teams	6.2 years (WALE)	Q3 2025
Tenant Access	Property-Level Offices	82% (Occupancy Rate)	Q2 2025
Investor Reporting	Earnings Calls/SEC Filings	$12.3 million (Revenue)	Q3 2025
Investor Reporting	Earnings Calls/SEC Filings	$1.9 million (Adjusted EBITDA)	Q3 2025
Stock Market Access	NYSE Listing	$20.05M (Market Cap)	December 2025

The company is defintely using these channels to manage a complex portfolio while simultaneously working to satisfy NYSE listing requirements. Finance: draft the Q4 2025 leasing pipeline forecast by end of January.

New York City REIT, Inc. (NYC) - Canvas Business Model: Customer Segments

You're mapping out the core groups New York City REIT, Inc. (NYC) serves, which is key to understanding where the revenue actually comes from. This REIT focuses its entire operation on high-quality commercial real estate, primarily office and retail, within the five boroughs of New York City, especially Manhattan.

The primary tenant base is built around credit quality, which is a direct reflection of the company's strategy to secure stable cash flows in a volatile market. As of the first quarter of 2025, a substantial 77% of the portfolio's straight-line rent was derived from tenants rated as investment-grade or implied investment-grade. This group includes major names like City National Bank, CVS, and various government agencies.

For tenants seeking long-term, high-profile space, the lease structure shows commitment. At the end of the first quarter of 2025, the weighted average remaining lease term (WALE) stood at 5.4 years. Furthermore, 51% of the leases, calculated by annualized straight-line rent, are set to expire after the year 2030. This long-term view provides a degree of revenue predictability.

The operational metrics for the physical assets reflect this leasing strategy. Portfolio occupancy held steady at 82% through the second quarter of 2025. To give you a snapshot of the asset base supporting these tenants, here are some portfolio statistics from recent periods:

Metric	Value (Q2 2025 or Latest Reported)	Context
Portfolio Occupancy	82%	As of Q2 2025
Investment Grade Rent % (Q1 2025)	77%	Straight-line rent basis
Weighted Average Remaining Lease Term (WALE)	5.4 years	As of Q1 2025
Total Square Feet	1.2 million	Approximate portfolio size

The equity side of the business targets public market investors looking for a pure-play exposure to New York City real estate. This segment is smaller but crucial for capital access. As of the second quarter of 2025, the institutional ownership base was quite concentrated, with institutional shares held by only 4 institutions, representing 0.17% of the total shares outstanding. The Market Cap at that time was reported as $145M.

The final key segment involves the financial institutions that provide the necessary capital structure to support asset ownership and acquisition. New York City REIT, Inc. (NYC) has structured its liabilities conservatively. Key debt characteristics as of year-end 2024 included:

• Debt Structure: 100% fixed-rate debt.
• Net Leverage: 56.9%.
• Net Debt: $340.2 million.
• Average Interest Rate: 4.4%.
• Weighted Average Debt Term: 3.6 years.

These financial partners are underwriting the REIT's ability to manage its debt obligations against its property income. Finance: draft 13-week cash view by Friday.

New York City REIT, Inc. (NYC) - Canvas Business Model: Cost Structure

You're looking at the cost side of New York City REIT, Inc. (NYC)'s operations as of late 2025. For a real estate investment trust, the major drains on cash are typically debt interest, property upkeep, and management fees. We need to see where the money is actually going.

The most significant fixed cost is debt service. The weighted-average interest rate on the total debt, based on the June 30, 2025 figures, was actually reported at 6.4% on fixed-rate debt. Still, the required focus point for this analysis remains the 5.3% weighted-average interest rate, which sets a benchmark for cost of capital discussions.

Property operating expenses-the day-to-day costs like taxes, insurance, and maintenance-are substantial. For the second quarter ended June 30, 2025, New York City REIT, Inc. reported total rental and other revenues of $12.2 million. Cash Net Operating Income (NOI) for that same quarter was $4.2 million. Here's the quick math: this implies total property operating expenses were approximately $8.0 million for the quarter ($12.2 million Revenue - $4.2 million Cash NOI). What this estimate hides is the specific breakdown between taxes, insurance, and maintenance, but it gives you the total operational burn rate.

General and administrative (G&A) expenses are under scrutiny, with management actively pursuing reductions, which reportedly included a change in auditor. While the general REIT sector saw administrative expense growth, specific 2025 G&A figures for New York City REIT, Inc. are not immediately available to detail the exact dollar amount being cut.

Costs tied to strategic portfolio adjustments are also material. The disposition of 9 Times Square in the prior year resulted in significant write-downs. For the second quarter of 2025, the GAAP net loss was $41.7 million, which was primarily driven by an impairment recorded in the quarter related to the sale of Nine Times Square. This shows the non-cash, but financially impactful, costs associated with cleaning up the balance sheet. Furthermore, the company is marketing other assets, like 123 William Street and 196 Orchard, with the stated goal to 'retire debt,' which implies future transaction costs or potential write-downs as part of this recycling initiative.

Here is a summary of the key financial metrics related to the cost structure as of the second quarter of 2025:

Cost Component	Metric/Period	Amount/Rate
Weighted-Average Interest Rate (Reported Q2 2025 Debt)	As of June 30, 2025	6.4%
Property Operating Expenses (Derived)	Three Months Ended June 30, 2025	$8.0 million (Approximate)
Total Revenue	Three Months Ended June 30, 2025	$12.2 million
Cash Net Operating Income (NOI)	Three Months Ended June 30, 2025	$4.2 million
Impairment Charge (Asset Disposition Cost)	Three Months Ended June 30, 2025	Included in GAAP Net Loss of $41.7 million

You should track the actual G&A expense reduction realized from the auditor change in the next filing. Finance: draft 13-week cash view by Friday.

New York City REIT, Inc. (NYC) - Canvas Business Model: Revenue Streams

You're looking at how New York City REIT, Inc. (NYC) actually brings in money, which, for a Real Estate Investment Trust focused on Manhattan commercial properties, boils down to rent checks. The primary revenue stream is definitely rental income derived from long-term leases across its portfolio of office and retail condominium assets. This provides the base-level, predictable cash flow you expect from this asset class. Still, the current strategy involves shifting this base by selling off certain Manhattan properties, which impacts near-term top-line figures but is intended to fund future, potentially higher-yielding opportunities outside the core market.

Looking at the most recent reported period, the third quarter of 2025 shows this dynamic clearly. Total revenue for Q3 2025 was reported at $12.3 million, which reflects the impact of those ongoing asset sales. On the operational side, the Cash Net Operating Income (NOI) for Q3 2025 landed at $5.3 million. This NOI figure is what's left after paying the direct operating expenses for the properties still held and leased.

Beyond the recurring rent, a secondary, though less predictable, revenue component comes from gains on asset sales, which are strategic moves. For instance, the company recorded a $44.3 million non-cash gain in Q3 2025 related to one of these strategic asset sales. This highlights the dual nature of their revenue: steady, but shrinking, rental income versus lumpy, large, non-cash gains from portfolio repositioning. Honestly, you have to watch both sides of that equation closely.

Here's a snapshot combining the key figures we have for the company as of late 2025:

Financial Metric	Amount/Value
Q3 2025 Total Revenue	$12.3 million
Q3 2025 Cash Net Operating Income (NOI)	$5.3 million
Q3 2025 Non-Cash Gain from Asset Sales	$44.3 million
Market Capitalization (as of Nov 2025)	$20.74M
Shares Outstanding (approximate)	2,629,703

The quality of the tenants is a key driver for the stability of that rental income stream. New York City REIT, Inc. (NYC) emphasizes that its portfolio is leased to a mix that provides a degree of credit quality, which helps secure those long-term lease payments. You can see this focus in their tenant base:

• Leased to investment-grade corporate tenants.
• Leased to government agencies.
• Portfolio spans office condominium assets.
• Portfolio spans retail condominium assets.

The 10 Years Aggregate Cash Flow From Operations (CFO) is noted at $-41.82 Mln, which shows the historical drag from operational cash flow before considering large capital events like the recent sales. Finance: draft a quick reconciliation of the Q3 2025 revenue drop versus the asset sale gain by next Tuesday.