[Form 4] American Strategic Investment Co. Insider Trading Activity

Rhea-AI Filing Summary

American Strategic Investment Co. reporting persons led by Nicholas S. Schorsch and related entities disclosed changes in beneficial ownership of Class A common stock. The filing shows an initial indirect position of 520,666 shares followed by a purchase on 09/09/2025 of 450 shares at a weighted-average price of $9.88, with total indirect holdings after the transaction reported as 1,017,730 shares. The report also discloses a disposition of 26,559 shares owned directly by Mr. Schorsch. The filing explains the ownership chain: Mr. Schorsch is sole managing member of Bellevue Capital Partners, LLC, which controls several entities listed as record holders. The reporting persons state they may constitute a Section 13(d) group collectively owning over 10% of the company and disclaim beneficial ownership of other group members' shares.

Positive

• Group disclosure of potential Section 13(d) ownership exceeding 10% enhances transparency about shareholder concentration
• Detailed ownership chain clarifies voting and investment discretion attributable to Nicholas S. Schorsch and affiliated entities

Negative

• Direct disposition of 26,559 shares by Mr. Schorsch reduced his personal holdings
• Purchase volume reported (450 shares) is very small relative to total holdings, limiting immediate market impact

Insights

Financial Analyst

TL;DR: Insider group increased indirect holdings and may now collectively exceed 10% ownership, a notable shareholder concentration change.

The filing documents a net change in reported ownership positions among affiliated reporting persons. Although the disclosed purchase on 09/09/2025 was modest in share count (450 shares at a weighted-average price of $9.88), the reported indirect share total rose to 1,017,730 shares, and the group may now exceed the 10% beneficial ownership threshold. A separate direct sale by Mr. Schorsch of 26,559 shares was also reported. These movements are material for disclosure and for shareholder concentration analysis, but the filing contains no operating or financial performance data to assess valuation impact.

Corporate Governance Expert

TL;DR: The filing clarifies complex ownership through affiliated entities and signals a potential Section 13(d) group crossing the 10% ownership mark.

The report provides detailed beneficial ownership attribution across multiple affiliated entities and asserts that the reporting persons may constitute a Section 13(d) group exceeding 10% of outstanding common stock. The explanatory footnotes transparently describe the chain of control from Mr. Schorsch to the record holder Adviser. The disclosure of both purchases and a separate disposition is consistent with Section 16 reporting requirements and helps investors understand governance-related voting and control dynamics.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SCHORSCH NICHOLAS S

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
American Strategic Investment Co. [ NYC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A common stock								520,666	I	See footnote(1)
Class A common stock	09/09/2025		P		450	A	$9.88(2)	1,017,730	I	See footnote(3)
Class A common stock								26,559	D(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

SCHORSCH NICHOLAS S

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Bellevue Capital Partners, LLC

(Last) (First) (Middle)

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

AR Global Investments, LLC

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

American Realty Capital III, LLC

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

New York City Special Ltd. Partnership, LLC

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

New York City Advisors, LLC

(Last) (First) (Middle)

C/O BELLEVUE CAPITAL PARTNERS, LLC

222 BELLEVUE AVENUE

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Mr. Nicholas S. Schorsch is the sole managing member of Bellevue Capital Partners, LLC ("BCP"), who is the ultimate controlling person of the Advisor, and has voting and investment discretion with respect to the securities held of record by the Advisor. BCP is the sole member of AR Global Investments, LLC, who is the sole member of American Realty Capital III, LLC ("ARC III"). ARC III is the sole member of New York City Special Limited Partnership, LLC, who is the sole member of the Advisor, the record holder of the securities reported herein.

2. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $9.56 to $9.97, inclusive. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, to any security holder of the Issuer, or to the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth above.

3. Represents shares of Class A common stock directly owned by BCP. Mr. Nicholas S. Schorsch is the sole managing member of BCP, and has voting and investment discretion with respect to the securities held of record by BCP.

4. Represents shares of Class A common stock owned solely by Mr. Nicholas S. Schorsch.

Remarks:

Exhibit 99.1 - Joint Filer Information, which is incorporated herein by reference and describes in further detail the relationships of the Reporting Persons to the Issuer. // The Reporting Persons are filing this Form 4 because they may be deemed to be members of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding common stock. The Reporting Persons expressly disclaim beneficial ownership of the securities beneficially owned by the other group members. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

	/s/ See signatures attached as Exhibit 99.1	09/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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FAQ

What did the Form 4 for NYC report on 09/09/2025?

The Form 4 reported a purchase of 450 Class A shares at a weighted-average price of $9.88 and a direct sale of 26,559 shares; indirect holdings were reported as 1,017,730 shares.

Who is the primary reporting person on this Form 4 for NYC?

The primary reporting person is Nicholas S. Schorsch, who is the sole managing member of Bellevue Capital Partners, LLC and has voting and investment discretion over the reported securities.

Do the reporting persons claim to form a Section 13(d) group for NYC?

Yes, the filing states the reporting persons may be members of a Section 13(d) group that collectively beneficially owns more than 10% of the issuer's common stock.

What entities are listed as related reporting persons on the Form 4?

Related reporting persons include Bellevue Capital Partners, LLC, AR Global Investments, LLC, American Realty Capital III, LLC, New York City Special Ltd. Partnership, LLC, and New York City Advisors, LLC.

What explanation is given for the weighted-average price reported?

The filing explains the reported price is a weighted average for purchases made at prices ranging from $9.56 to $9.97, and the reporting persons will provide detailed price breakdowns on request.