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

Rhea-AI Filing Summary

American Strategic Investment Co. (NYC) insiders increased their Class A common stock holdings through multiple purchases on September 22, 24 and 25, 2025. The filing shows an initial indirect holding of 520,666 Class A shares and three reported purchases of 1,863 shares on each of the three transaction dates at weighted average prices of $9.89, $9.94 and $10.13, respectively, raising the reported indirect holdings sequentially to 1,022,230, 1,024,093 and 1,025,956 shares. The report also records a disposition of 26,559 Class A shares owned directly by Mr. Nicholas S. Schorsch.

The filing is submitted by multiple related reporting persons (including Mr. Schorsch, Bellevue Capital Partners, AR Global Investments, American Realty Capital III, New York City Special Ltd. Partnership and New York City Advisors) who state they may constitute a Section 13(d) group that collectively beneficially owns more than 10% of the issuer, while disclaiming beneficial ownership of other group members’ shares except to the extent of any pecuniary interest.

Insights

Securities Analyst

TL;DR: Related insiders executed small, repeated purchases that materially increased reported indirect holdings to about 1.026 million Class A shares while also selling 26,559 shares.

The transactions are routine open-market purchases executed over three days with weighted-average prices disclosed for each date. The reporting group asserts potential collective ownership exceeding 10%, which is material for disclosure and regulatory grouping considerations. The mix of additional small purchases and a single disclosed disposition suggests active portfolio adjustments rather than a single large block trade. All details are explicitly stated in the Form 4 and footnotes; no transactional breakdown beyond weighted-average price ranges is provided.

Corporate Governance Expert

TL;DR: The filing highlights related-party ownership structure and Section 13(d) group disclosure risk rather than a change to corporate control.

The report carefully documents the ownership chain: Mr. Schorsch is the sole managing member of Bellevue Capital Partners, which controls subsequent entities that hold the securities of record. That chain and the group filing language are significant for governance transparency because they clarify voting and investment discretion. The explicit disclaimer of cross-beneficial ownership limits legal exposure but preserves the group disclosure required when collective holdings exceed 10%.

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).

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)
09/22/2025

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	09/22/2025		P		1,863	A	$9.89(2)	1,022,230	I	See footnote(3)
Class A common stock	09/24/2025		P		1,863	A	$9.94(4)	1,024,093	I	See footnote(3)
Class A common stock	09/25/2025		P		1,863	A	$10.13(5)	1,025,956	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 $9.54 to $9.95, 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 $9.70 to $9.95, 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 $9.94 to $10.22, 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	09/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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