American Strategic Investment: $50M loan accelerated; default interest

American Strategic Investment Co. reported that its subsidiaries received a notice from the special servicer stating the company’s $50.0 million property loan was accelerated after alleged events of default.

Rhea-AI Filing Summary

American Strategic Investment Co. reported that its subsidiaries received a notice from the special servicer stating the company’s $50.0 million property loan was accelerated after alleged events of default. The loan is secured by non-recourse mortgages on 400 E. 67th Street and 200 Riverside Blvd., with the operating partnership as a limited guarantor.

The notice states all amounts are now due and payable together with default interest at the lesser of the legal maximum or four percent above the 4.516% per annum rate, compounded monthly. The company said it is evaluating its options regarding the properties.

Positive

• None.

Negative

• Loan accelerated: $50.0 million principal now due with default-rate interest (lesser of legal maximum or 4% above 4.516% per annum, compounded monthly).
• Credit stress: Acceleration tied to alleged defaults on cash management, payments, and liens increases near-term liquidity pressure.

Insights

Credit & Distress Analyst

Loan acceleration and default-rate interest raise near-term liquidity risk.

American Strategic Investment Co. disclosed a notice of acceleration on a $50.0 million loan secured by 400 E. 67th Street and 200 Riverside Blvd. The notice states all amounts are due and default interest applies at the lesser of legal maximum or 4% above the 4.516% rate, compounded monthly. Acceleration typically concentrates repayment risk immediately.

Because the mortgages are non-recourse to the company (beyond a limited guaranty by the operating partnership), financial exposure may hinge on collateral outcomes and any limited guarantees. Servicer assertions are characterized as alleged; prior notices were contested by the company.

Key variables include possible negotiations with the lender and decisions regarding the properties. Subsequent filings may clarify repayment, forbearance, or collateral remedies following the November 6, 2025 notice.

8-K Event Classification

Item 2.04 — Triggering Events That Accelerate or Increase a Direct Financial Obligation

1 item

Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation Financial

An event triggered acceleration or increase of an existing financial obligation, such as a debt covenant breach.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did American Strategic Investment Co. (NYC) disclose?

The company received a notice stating its property loan was accelerated and all amounts are due, with default-rate interest applied.

What is the size of the accelerated loan?

The principal amount is $50.0 million.

Which properties secure the loan?

Non-recourse mortgages on 400 E. 67th Street and 200 Riverside Blvd. secure the loan.

What default interest terms were cited?

The notice states a rate per annum equal to the lesser of the legal maximum or 4% above 4.516%, compounded monthly.

Who is the lender and special servicer?

Societe Generale is the lender; Rialto Capital Advisors, LLC is the special servicer.

How is the operating partnership involved?

New York City Operating Partnership L.P. serves as a limited guarantor of certain obligations under the loan.

What is the company’s response?

It is evaluating options regarding the properties; earlier default assertions were contested in responses to prior notices.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K
 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 6, 2025

American Strategic Investment Co.

(Exact Name of Registrant as Specified in Charter)

Maryland		001-39448		46-4380248
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)
222 Bellevue Ave, Newport, Rhode Island 02840
(Address, including zip code, of Principal Executive Offices)
Registrant’s telephone number, including area code: (212) 415-6500

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:		Trading Symbol(s)		Name of each exchange on which registered
Class A common stock, $0.01 par value per share		NYC		New York Stock Exchange
Class A Preferred Stock Purchase Rights		true		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

ARC NYC400E67, LLC (“Laurel Borower”) and  ARC NYC200RIVER01, LLC (“200 Riverside Property Borrower”, and with the Laurel Borrower, collectively, the “Borrower”), subsidiaries of American Strategic Investment Co. (the “Company”), and Societe Generale, as lender, entered into the Loan Agreement, dated as of April 13, 2018 (the “Loan Agreement”), related to a loan in the principal amount of $50.0 million (the “Loan”). The Loan is evidenced by various promissory notes (the “Notes” and the holders of the Notes, collectively, the “Lender”) and secured by non-recourse mortgages on the Company’s 400 E. 67th Street and 200 Riverside Blvd. properties (the “Property”). New York City Operating Partnership L.P. (the “OP”), the Company’s operating partnership, serves as a limited guarantor of certain obligations under the Loan.

As previously disclosed, the Company was informed by the Rialto Capital Advisors, LLC, as special servicer on behalf of the Lender (the “Special Servicer”), pursuant to letters dated in November 2024, December 2024, January 2025 and June 2025 that the Company was in default under the Loan Agreement for events that first occurred in the third and fourth quarters of 2023, specifically the Company’s failure to establish a cash management account for excess cash sweeps over monthly debt service requirements failure to cooperate with the Lender to cure the alleged cash management procedure failures, and failure to pay outstanding amounts due under such Loan Agreement beginning in April 2025. The Company responded to notices of default sent in November 2024, December 2024 and January 2025, rejecting the assertions made by the Lender.

On November 6, 2025, the Company received a notice from the Special Servicer identifying certain additional events of default, specifically incurrence of indebtedness that does not constitute Permitted Indebtedness (as defined in the Loan Agreement) and incurrence of liens that are not in favor of the Lender or Permitted Encumbrances (as defined in the Loan Agreement), subject to certain exceptions, as a result of Borrower’s alleged failure to pay make certain additional payments and certain liens filed on the Property as a result thereof. In such notice, the Special Servicer notified the Borrower that, due to the alleged events of default under the Loan Agreement, the Loan had been accelerated, and all amounts under the Loan Agreement were due and payable, together with interest at the default rate set forth in the Loan Agreement, which is a rate annum equal to the lesser of (i) the maximum rate permitted by applicable law, or (ii) four percent (4%) above the interest rate of 4.516% per annum, compounded monthly. Such amounts include, but are not limited to, the $50.0 million principal amount of the Notes. The Company is evaluating its options with respect to the Property and there can be no assurance as to the resolution of these matters with the Lender.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	American Strategic Investment Co.
Date: November 7, 2025	By:	/s/ Michael LeSanto
		Michael LeSanto
		Chief Financial Officer