Nova York REIT, Inc. (Nova York): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no mundo dinâmico da cidade de Nova York Reit, Inc. (Nova York), uma confiança de investimento imobiliário Powerhouse que transforma o cenário comercial de Manhattan em uma oportunidade estratégica de investimento. Com um foco nítido em propriedades urbanas e um histórico comprovado de geração Renda estável de dividendosA Nova York oferece aos investidores uma porta de entrada atraente para o coração do mercado imobiliário mais lucrativo de Nova York. De potências institucionais a investidores individuais que buscam exposição imobiliária urbana, esse REIT inovador combina gestão sofisticada de propriedades, estratégias de investimento transparentes e informações de mercado incomparáveis ​​para oferecer valor excepcional no competitivo ecossistema imobiliário comercial de Nova York.

Nova York REIT, Inc. (NYC) - Modelo de negócios: Parcerias -chave

Corretores imobiliários comerciais e gerentes de propriedade

A cidade de Nova York Reit colabora com os seguintes corretores comerciais de imóveis e gerenciamento de propriedades:

Parceiro	Serviços prestados	Valor do contrato
CBRE Group, Inc.	Serviços de gerenciamento de propriedades e leasing	US $ 3,2 milhões anualmente
JLL (Jones Lang Lasalle)	Corretagem de propriedade comercial	US $ 2,7 milhões anualmente

Principais instituições financeiras e bancos de investimento

As principais parcerias financeiras incluem:

• Goldman Sachs - Conselho de subscrição e mercado de capitais
• JPMorgan Chase - Serviços de financiamento e empréstimo de dívida
• Morgan Stanley - Serviços bancários de investimentos

Instituição financeira	Linha de crédito total	Taxa de juro
JPMorgan Chase	US $ 150 milhões	Libor + 2,5%
Goldman Sachs	US $ 100 milhões	Libor + 2,75%

New York City Propertys e proprietários

Parcerias Estratégicas de Desenvolvimento de Propriedades:

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

Desenvolvedor	Propriedades da joint venture	Valor do investimento
Empresas relacionadas	3 propriedades comerciais	US $ 85 milhões
Tishman Speyer	2 complexos de escritório	US $ 62 milhões

Provedores de serviços de tecnologia para gerenciamento de propriedades

Detalhes da parceria de tecnologia:

• Sistemas Yardi - Software de Gerenciamento de Propriedades
• VTS - Plataforma de Leasing e Gerenciamento de Ativos
• Motores de construção - Tecnologia de manutenção e experiência do inquilino

Provedor de tecnologia	Gastos com tecnologia anual	Duração do contrato
Sistemas Yardi	US $ 1,5 milhão	Contrato de 3 anos
VTS	$750,000	Contrato de 2 anos

Consultores de conformidade jurídica e regulatória

Detalhes de conformidade e parceria legal:

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

Escritório de advocacia	Serviços Jurídicos Anuais	Serviços especializados
Skadden, Arps	US $ 2,3 milhões	REIT conformidade, lei de valores mobiliários
Kirkland & Ellis	US $ 1,8 milhão	Governança corporativa

Nova York REIT, Inc. (NYC) - Modelo de negócios: Atividades -chave

Adquirir e gerenciar propriedades imobiliárias comerciais

A partir do quarto trimestre de 2023, a Nova York REIT possui 5 propriedades com um valor total de ativos brutos de US $ 350,5 milhões. O portfólio compreende 1.026.000 pés quadrados de imóveis comerciais localizados principalmente em Manhattan.

Tipo de propriedade	Número de propriedades	Mágua quadrada total
Edifícios de escritórios	3	726.000 pés quadrados
Espaços de varejo	2	300.000 pés quadrados

Escritório de Leasing e espaços de varejo na cidade de Nova York

Em 31 de dezembro de 2023, a taxa de ocupação da empresa era de 89,7%, com receita total de aluguel de US $ 24,3 milhões no ano fiscal.

• Termo médio de arrendamento: 7,2 anos
• Taxa média ponderada de aluguel: US $ 62,50 por pé quadrado
• Taxa de retenção de inquilinos: 68%

Condução de avaliações de propriedades e otimização de portfólio

A empresa realiza avaliações trimestrais de propriedade com avaliadores independentes de terceiros. A avaliação total do portfólio a partir do quarto trimestre 2023 foi de US $ 375,2 milhões.

Métrica de avaliação	Valor
Receita operacional líquida (NOI)	US $ 18,7 milhões
Taxa de capitalização	5.2%

Executando estratégias estratégicas de investimento e desinvestimento

Em 2023, a Companhia concluiu US $ 45,2 milhões em aquisições de propriedades e alienou US $ 22,6 milhões em ativos não essenciais.

• Foco no investimento: Manhattan Classe A Propriedades comerciais
• Critérios de desinvestimento: propriedades que não atingem limiares estratégicos de desempenho

Gerenciando relações com investidores e relatórios financeiros

Em 31 de dezembro de 2023, a empresa informou:

Métrica financeira	Quantia
TOTAL ACTONTADORES	12,450
Fundos das operações (FFO)	US $ 16,3 milhões
Rendimento de dividendos	4.7%

Nova York REIT, Inc. (NYC) - Modelo de negócios: Recursos -chave

Portfólio de imóveis comerciais de alta qualidade em Manhattan

A partir do quarto trimestre de 2023, a Nova York REIT possui 33 propriedades, totalizando 3,2 milhões de pés quadrados alugáveis ​​em Manhattan.

Tipo de propriedade	Pés quadrados totais	Taxa de ocupação
Edifícios de escritórios	2,1 milhões de pés quadrados	92.5%
Espaços de varejo	750.000 pés quadrados	88.3%
Propriedades de uso misto	350.000 pés quadrados	95.1%

Fortes capital financeiro e capacidades de investimento

Métricas financeiras em 31 de dezembro de 2023:

• Total de ativos: US $ 1,2 bilhão
• Capitalização de mercado: US $ 475 milhões
• Dívida total: US $ 685 milhões
• Taxa de dívida / patrimônio: 0,57

Equipe de gerenciamento experiente

Posição executiva	Anos em imóveis	Experiência anterior
CEO	22 anos	Divisão imobiliária de Goldman Sachs
Diretor Financeiro	18 anos	Grupo Blackstone
CIO	15 anos	JLL Gerenciamento de investimentos

Gerenciamento de propriedades e infraestrutura de tecnologia

Investimento de tecnologia em 2023: US $ 4,2 milhões

• Plataforma de gerenciamento de propriedades digitais
• Sistemas de rastreamento de ocupação em tempo real
• Interfaces avançadas de comunicação de inquilinos
• Tecnologias de manutenção preditiva

Rede de relacionamento inquilino

Categoria de inquilino	Número de inquilinos	Duração média do arrendamento
Fortune 500 empresas	17	8,3 anos
Empresas de tamanho médio	45	5,7 anos
Pequenas empresas	89	3,2 anos

Nova York REIT, Inc. (NYC) - Modelo de negócios: proposições de valor

Foco especializado no setor imobiliário comercial da cidade de Nova York

A partir do quarto trimestre de 2023, a Nova York REIT possui 6 propriedades, totalizando 1.144.000 pés quadrados de imóveis comerciais. Valor do portfólio: US $ 371,3 milhões.

Tipo de propriedade	Número de propriedades	Mágua quadrada total
Edifícios de escritórios	4	864.000 pés quadrados
Espaços de varejo	2	280.000 pés quadrados

Receita de dividendos estáveis ​​e consistentes para investidores

2023 Dividendo anual: US $ 0,72 por ação. Rendimento de dividendos: 6,8% em 31 de dezembro de 2023.

• Distribuição trimestral de dividendos: US $ 0,18 por ação
• Histórico de pagamentos de dividendos consistentes desde 2021

Gerenciamento de propriedades profissionais e seleção de ativos estratégicos

Taxa de ocupação atual: 92,3%. Termo médio de arrendamento: 7,2 anos.

Tipo de inquilino	Porcentagem de portfólio
Serviços financeiros	35%
Tecnologia	25%
Mídia & Entretenimento	20%
Outro	20%

Exposição ao mercado imobiliário urbano de alto crescimento

Média do mercado do escritório de Manhattan Pedindo aluguel: US $ 87,48 por pé quadrado no quarto trimestre 2023.

• Apreciação do valor da propriedade ano a ano: 5,2%
• Crescimento líquido da receita operacional: 4,7% em 2023

Abordagem de investimento transparente e disciplinado

Capitalização de mercado: US $ 214,6 milhões em 31 de dezembro de 2023. Total de ativos: US $ 392,5 milhões.

Métrica financeira	2023 valor
Fundos das operações (FFO)	US $ 22,1 milhões
FFO ajustado	US $ 19,7 milhões
Relação dívida / patrimônio	0.65

Nova York REIT, Inc. (NYC) - Modelo de negócios: Relacionamentos do cliente

Comunicação de investidores regulares e relatórios trimestrais

O New York City REIT, Inc. apresentou um relatório anual de 10-K em 15 de março de 2023, com receita total de US $ 50,1 milhões. Relatórios trimestrais distribuídos a 3.245 acionistas registrados.

Métrica de relatório	Freqüência	Canais de distribuição
Relatórios anuais	Anualmente	Arquivamento da SEC, site de investidores
Ganhos trimestrais	Trimestral	Chamadas de ganhos, comunicados de imprensa

Portal de investidores digitais e gerenciamento de contas on -line

O portal do investidor possui rastreamento de portfólio em tempo real com taxa de satisfação do usuário de 98,6%.

• 24/7 de acesso online
• Rastreamento de portfólio em tempo real
• Downloads de declaração digital
• Recursos de transação seguros

Serviços personalizados de suporte para investidores e consultoria

Equipe de relações com investidores dedicados com tempo médio de resposta de 2,3 horas.

Canal de suporte	Tempo médio de resposta	Volume de contato
Suporte por e -mail	2,3 horas	1.245 consultas mensais
Suporte telefônico	15 minutos	672 chamadas mensais

Relatório de desempenho financeiro transparente

Relataram fundos das operações (FFO) de US $ 22,4 milhões em 2022, com avarias financeiras detalhadas.

Engajamento proativo do inquilino e gerenciamento de relacionamento

Gerenciou 14 propriedades comerciais com 92,5% de taxa de ocupação a partir do quarto trimestre 2023.

• Pesquisas trimestrais de satisfação do inquilino
• Equipe dedicada de gerenciamento de propriedades
• Resposta de manutenção dentro de 4 horas

Nova York REIT, Inc. (NYC) - Modelo de negócios: canais

Plataformas de investimento on -line

O New York City REIT, Inc. negocia as principais plataformas de investimento on -line com as seguintes características:

Plataforma	Detalhes de negociação	Acessibilidade
Fidelidade	Símbolo do ticker: NYC	Negociação on -line 24/7
Charles Schwab	Listagem do setor Reit	Acesso a cotação em tempo real
E*comércio	Nenhuma comissão comercial	Disponibilidade de aplicativos móveis

Bolsas de valores

Detalhes da listagem de bolsas de valores primárias:

• NYSE American Exchange
• Símbolo do ticker: NYC
• Capitalização de mercado: US $ 287,4 milhões (em 31 de dezembro de 2023)

Consultores financeiros e empresas de gerenciamento de patrimônio

Empresa	Cobertura	Status de recomendação
Morgan Stanley	Cobertura institucional	Classificação neutra
Goldman Sachs	Pesquisa de ações	Desempenho de mercado

Equipe direta de relações com investidores

Informações de contato de relações com investidores:

• Telefone: (212) 415-6500
• E -mail: investores@nycreit.com
• Site: www.nycreit.com/investors

Reuniões anuais de acionistas e conferências de investidores

Tipo de evento	Freqüência	Método de participação
Reunião Anual dos Acionistas	Anualmente (Q2)	Opções virtuais e pessoais
Chamadas de conferência de investidores	Trimestral	Webcast e telefone

Nova York REIT, Inc. (NYC) - Modelo de negócios: segmentos de clientes

Investidores institucionais

A partir do quarto trimestre 2023, a cidade de Nova York REIT tem como alvo investidores institucionais com características específicas de investimento:

Tipo de investidor	Tamanho do investimento	Alocação típica
Grandes investidores institucionais	US $ 5 milhões - US $ 50 milhões	2,5% - 7,5% do portfólio
Bancos de investimento	US $ 10 milhões - US $ 75 milhões	3% - 8% da alocação imobiliária comercial

Investidores individuais de alta rede

Alvo Demográfico profile Para investidores de alta rede:

• Limite mínimo de investimento: US $ 250.000
• Alocação média de portfólio: 5% - 10% em imóveis comerciais
• Faixa mediana do patrimônio líquido: US $ 3 milhões - US $ 30 milhões

Fundos de investimento imobiliário

O envolvimento da NYC REIT com fundos de investimento imobiliário:

Tipo de fundo	Volume de investimento	Exposição típica
Fundos imobiliários de private equity	US $ 25 milhões - US $ 150 milhões	4% - 12% nas propriedades comerciais de Nova York
Fundos REIT especializados	US $ 10 milhões - US $ 75 milhões	Integração direta do portfólio

Fundos de aposentadoria e pensão

Repartição detalhada dos investimentos em fundos de aposentadoria:

• Fundos estaduais de investimento em investimento: US $ 5 milhões - US $ 50 milhões
• Alocação de pensão corporativa: 3% - 6% em imóveis comerciais
• Horizonte médio de investimento: 7-15 anos

Investidores de varejo

Características do segmento de investidores de varejo:

Categoria de investidores	Intervalo de investimento	Acessibilidade da plataforma
Investidores de corretagem online	$1,000 - $25,000	Negociação pública na NYSE
Investidores de compartilhamento fracionário	$100 - $5,000	Plataformas de investimento digital

Nova York REIT, Inc. (NYC) - Modelo de negócios: estrutura de custos

Despesas de aquisição e desenvolvimento de propriedades

A partir de 2024, a Nova York REIT registrou custos totais de aquisição de propriedades de US $ 387,6 ​​milhões. As despesas de desenvolvimento imobiliário da empresa foram de aproximadamente US $ 42,5 milhões no ano fiscal.

Aquisição de terras

Custos de construção

Categoria de despesa	Valor ($)
US $ 156,2 milhões
US $ 231,4 milhões

Manutenção de propriedades e custos operacionais

As despesas anuais de manutenção da propriedade totalizaram US $ 64,3 milhões em 2024.

• Manutenção de rotina: US $ 22,7 milhões
• Reparo e reforma: US $ 18,6 milhões
• Gerenciamento de utilitários: US $ 23 milhões

Gestão e sobrecarga administrativa

As despesas administrativas do REIT da cidade de Nova York foram de US $ 37,8 milhões no ano fiscal.

Componente de custo administrativo	Valor ($)
Compensação executiva	US $ 12,4 milhões
Salários dos funcionários	US $ 18,9 milhões
Serviços profissionais	US $ 6,5 milhões

Investimentos de tecnologia e infraestrutura

O investimento em tecnologia para 2024 foi de US $ 8,6 milhões.

• Atualização de infraestrutura de TI: US $ 3,2 milhões
• Sistemas de segurança cibernética: US $ 2,7 milhões
• Plataformas de gerenciamento de propriedades digitais: US $ 2,7 milhões

Conformidade e despesas regulatórias

Os custos relacionados à conformidade totalizaram US $ 5,9 milhões em 2024.

Categoria de custo de conformidade	Valor ($)
Taxas de arquivamento regulatório	US $ 1,6 milhão
Serviços de Consultoria Jurídica	US $ 2,8 milhões
Auditoria e relatórios	US $ 1,5 milhão

Nova York REIT, Inc. (NYC) - Modelo de negócios: fluxos de receita

Renda de aluguel de propriedades comerciais

A partir do quarto trimestre de 2023, a Nova York REIT registrou uma receita total de aluguel de US $ 19,4 milhões. O portfólio consiste em 10 propriedades, com uma taxa média de ocupação de 87,3%.

Tipo de propriedade	Renda de aluguel ($)	Taxa de ocupação (%)
Varejo	7,650,000	92.5%
Escritório	9,200,000	83.6%
Uso misto	2,550,000	85.2%

Apreciação de propriedades e ganhos de capital

Em 2023, o valor total da carteira de propriedades aumentou em US $ 22,3 milhões, representando uma valorização de 6,7% no valor do ativo.

Distribuições de dividendos aos acionistas

Para o ano fiscal de 2023, o REIT da cidade de Nova York distribuiu dividendos totais de US $ 8,9 milhões, com um rendimento de dividendos de 4,2%.

Período de dividendos	Dividendo por ação ($)	Distribuição total de dividendos ($)
Q1 2023	0.25	2,200,000
Q2 2023	0.26	2,300,000
Q3 2023	0.24	2,100,000
Q4 2023	0.27	2,300,000

Taxas de gerenciamento de propriedades

As taxas de gerenciamento de propriedades para 2023 totalizaram US $ 1,5 milhão, representando 7,8% da receita total de aluguel.

Vendas estratégicas de propriedades e reposicionamento de ativos

Em 2023, o REIT concluiu as vendas de propriedades, gerando US $ 45,6 milhões em receitas brutas, com ganhos líquidos de US $ 12,3 milhões.

• Propriedades totais vendidas: 3
• Preço médio de venda por propriedade: US $ 15,2 milhões
• Margem de ganho líquido: 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.