American Strategic Investment Co. Sets Closing Date for 9 Times Square Sale
American Strategic Investment Co. Class A (NYC)
Company Research
Source: Business Wire
- Non-Refundable Deposit of $7.0 Million Secured and Expect to Generate Approximately $13.5 Million in Net Proceeds at Closing - NEW YORK--(BUSINESS WIRE)--American Strategic Investment Co. (NYSE: NYC) (“ASIC” or the “Company”) announced today that December 19, 2024, has been set as the closing date for the sale of its 9 Times Square Midtown Manhattan property (“9 Times Square”) for a contract sales price of $63.5 million. Additionally, in connection with this transaction, the buyer has paid a $7 million non-refundable deposit with respect to the sales price.The Company previously announced that it had secured an amendment of the mortgage loan on 9 Times Square, which extended the maturity date of such loan up to January 2025, subject to certain conditions, to facilitate the proposed sale of 9 Times Square.Michael Anderson, Chief Executive Officer of ASIC stated, “We look forward to closing this transaction. We expect to utilize the approximately $13.5 million in net proceeds from
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