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

Rhea-AI Filing Summary

Nicholas S. Schorsch and affiliated entities increased their reported indirect stake in American Strategic Investment Co. (NYC) through multiple purchases in September 2025. The report shows an initial indirect holding of 520,666 Class A shares and subsequent additions that increased the aggregate indirect position to 1,017,280 shares after purchases on 9/04/2025, 9/05/2025 and 9/08/2025. The filing also discloses a separate disposition of 26,559 Class A shares owned directly by Mr. Schorsch. Purchases were made at weighted-average prices in ranges described in the footnotes (approximately $9.90–$10.36). The filing identifies Bellevue Capital Partners, AR Global Investments, American Realty Capital III and related entities as record holders and explains their ownership chain. The reporting group may be deemed a Section 13(d) group owning more than 10% of the company but expressly disclaims beneficial ownership of other group members' shares.

Positive

• Large increase in reported indirect ownership from 520,666 to 1,017,280 Class A shares, indicating stronger ownership position.
• Purchases executed at approximately $9.90–$10.36 (weighted-average ranges provided), showing consistent price levels for acquisitions.
• Clear disclosure of ownership chain through Bellevue Capital Partners, AR Global Investments and affiliated entities, improving transparency.

Negative

• Direct sale of 26,559 Class A shares by Mr. Schorsch is disclosed, reducing his direct holding.
• Potential Section 13(d) group >10% is indicated, which may trigger additional regulatory and disclosure obligations for the group.

Insights

Financial Analyst

TL;DR: Significant net purchases increased the group's indirect holding to ~1.02 million Class A shares, reflecting a larger ownership stake.

The Form 4 documents concentrated buying across three trading dates in early September 2025 that raised reported indirect holdings from 520,666 to 1,017,280 Class A shares, a net increase of approximately 496,614 shares before accounting for a 26,559-share direct sale by Mr. Schorsch. Purchases executed at weighted-average prices within the disclosed ranges imply meaningful capital deployment around the $10 per-share level. For investors, the scale of purchases and the potential >10% group holding are material signals about the group's positioning, though the filing contains no operational or financial performance data to explain the rationale.

Corporate Governance Expert

TL;DR: The filing clarifies control and disclosure relationships across affiliated entities and flags a possible Section 13(d) group.

The report provides a clear chain of control: Mr. Schorsch is the sole managing member of Bellevue Capital Partners, which is the controlling member of the subsequent entities listed. The Form 4 includes the standard disclaimer about disclaimed beneficial ownership among group members while noting the group may collectively exceed 10% ownership. This structure and the joint-filer disclosure are important for governance transparency and for determining voting influence, but the filing does not provide details on any coordinated intent or plans by the group.

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

OMB APPROVAL

OMB Number:			3235-0287
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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)
09/04/2025

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	09/04/2025		P		314	A	$10.3(2)	1,016,516	I	See footnote(3)
Class A common stock	09/05/2025		P		314	A	$9.98(4)	1,016,830	I	See footnote(3)
Class A common stock	09/08/2025		P		450	A	$10.1(5)	1,017,280	I	See footnote(3)
Class A common stock								26,559	D(6)

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 $10.10 to $10.36, 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. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $9.94 to $9.98, 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.

5. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $9.90 to $10.24, 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.

6. 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	09/08/2025
	** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transactions did Nicholas S. Schorsch report for NYC on September 2025?

The Form 4 reports multiple purchases on 9/04/2025, 9/05/2025 and 9/08/2025 that increased the reported indirect holdings to 1,017,280 Class A shares and a direct disposition of 26,559 shares.

How many Class A shares does the reporting group beneficially own after the transactions?

After the reported purchases the filing shows an indirect beneficial position of 1,017,280 Class A shares held by the reporting entities.

At what prices were the NYC shares acquired according to the Form 4?

The filing discloses weighted-average purchase prices with ranges: approximately $10.10–$10.36, $9.94–$9.98, and $9.90–$10.24 for the respective purchase dates; specific per-trade details are available on request to the SEC staff or issuer.

Which entities are listed as record holders or reporting persons in this filing?

Reported entities 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, with Mr. Schorsch as sole managing member of BCP.

Does the Form 4 indicate the reporting group owns more than 10% of NYC?

Yes, the report states the Reporting Persons may be deemed members of a Section 13(d) group that collectively beneficially owns more than 10% of the issuer's outstanding common stock.