Schorsch-led group increases NYC Class A holdings above 1M shares

Rhea-AI Filing Summary

American Strategic Investment Co. (NYC) Form 4 summary: The filing shows insider purchases and a small disposition by Nicholas S. Schorsch and affiliated entities. Mr. Schorsch and related reporting persons (Bellevue Capital Partners, AR Global Investments, American Realty Capital III, New York City Special Ltd. Partnership, New York City Advisors) collectively increased reported indirect holdings of Class A common stock through purchases on 09/12/2025 and 09/16/2025 at weighted-average prices of $9.79 and $9.88, respectively. Reported indirect beneficial ownership rose from 520,666 shares to 1,018,909 shares after the transactions. Separately, Mr. Schorsch disposed of 26,559 shares held directly. Footnotes explain the control and membership chain among the reporting persons and state the price ranges of underlying trades. The filers note they may be deemed part of a Section 13(d) group owning more than 10% and disclaim beneficial ownership of other group members' shares.

Positive

• Insider purchases increased reported indirect holdings from 520,666 to 1,018,909 Class A shares
• Purchases executed at modest prices with weighted-average prices reported at $9.79 and $9.88
• Clear disclosure of control chain showing Mr. Schorsch as sole managing member of Bellevue Capital Partners

Negative

• Direct disposition of 26,559 Class A shares by Mr. Nicholas S. Schorsch
• Reporting persons may form a Section 13(d) group exceeding 10%, which can prompt additional regulatory scrutiny and disclosure obligations

Insights

Securities Analyst

TL;DR: Significant insider purchases increased reported indirect stake to ~1.02M Class A shares; useful signal about insider demand.

The reporting group executed multiple purchases on 09/12/2025 and 09/16/2025 at weighted-average prices of $9.79 and $9.88, respectively, expanding indirect holdings from 520,666 to 1,018,909 shares. These purchases were made by entities controlled through Bellevue Capital Partners with Mr. Nicholas S. Schorsch as sole managing member, indicating coordinated acquisition by affiliated holders rather than isolated trades. The filing also discloses a direct disposition of 26,559 shares by Mr. Schorsch. The statement that the group may exceed 10% ownership is material for investor monitoring and potential Section 13(d) considerations.

Corporate Governance Expert

TL;DR: Related-party structure is clearly disclosed; joint-filer status and 13(d) group note are important governance disclosures.

Footnotes provide a clear chain of control: Mr. Schorsch controls Bellevue Capital Partners, which in turn controls the other reporting entities that hold record title. The filing includes the required joint-filer exhibit reference and an explicit disclaimer of beneficial ownership among group members, while acknowledging a possible Section 13(d) group status exceeding 10% of outstanding stock. Accurate attribution of voting and investment discretion is disclosed, fulfilling key Section 16 and 13(d) transparency obligations.

Insider Trade Summary

Net Buyer: 1,179 shares ($11,608)

Net Buy 4 txns

Insider SCHORSCH NICHOLAS S, Bellevue Capital Partners, LLC, AR Global Investments, LLC, American Realty Capital III, LLC, New York City Special Ltd. Partnership, LLC, New York City Advisors, LLC

Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner

Bought 1,179 shs ($12K)

Type	Security	Shares	Price	Value
Purchase	Class A common stock	729	$9.88	$7K
Purchase	Class A common stock	450	$9.79	$4K
holding	Class A common stock	--	--	--
holding	Class A common stock	--	--	--

Holdings After Transaction: Class A common stock — 1,018,909 shares (Indirect, See footnote); Class A common stock — 26,559 shares (Direct)

Footnotes (1)

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. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $9.77 to $9.80, 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. 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. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $9.48 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. Represents shares of Class A common stock owned solely by Mr. Nicholas S. Schorsch.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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)
09/12/2025

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	09/12/2025		P		450	A	$9.79(2)	1,018,180	I	See footnote(3)
Class A common stock	09/16/2025		P		729	A	$9.88(4)	1,018,909	I	See footnote(3)
Class A common stock								26,559	D(5)

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 $9.77 to $9.80, 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 $9.48 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. 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	09/16/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did insiders report on the NYC Form 4?

The filing reports purchases of Class A common stock on 09/12/2025 (450 shares at a weighted-average $9.79) and 09/16/2025 (729 shares at a weighted-average $9.88), and a direct sale of 26,559 shares by Mr. Schorsch.

How many NYC Class A shares do the reporting persons own after these transactions?

The reported indirect beneficial ownership increased to 1,018,909 Class A shares following the 09/16/2025 transaction.

Who controls the shares reported in the Form 4 for NYC?

Footnotes state that Nicholas S. Schorsch is sole managing member of Bellevue Capital Partners, which controls the other reporting entities that hold the securities of record.

Do the reporting persons claim a Section 13(d) group in the filing?

The filing states the reporting persons may be deemed members of a Section 13(d) group collectively beneficially owning more than 10% and includes a disclaimer of beneficial ownership among group members.

At what price ranges were the reported purchases made?

Per footnotes, purchases on 09/12/2025 were made at prices ranging from $9.77 to $9.80; purchases around 09/16/2025 ranged from $9.48 to $9.98.