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American Strategic Investment told the SEC that substantial doubt about its going concern status remains.
Its $140M loan on 123 William St. matures in March, above the tower's $137.7M Q2 valuation.
The REIT lost $16M in the first half while its external manager's affiliates collected about $6M in fees.
American Strategic Investment Co. has warned that substantial doubt surrounds its ability to stay in business. The disclosure came in filings with the Securities and Exchange Commission. The company trades on the New York Stock Exchange under the NYC ticker. It could fall into bankruptcy within 12 months. According to Bisnow, its largest remaining ******* et carries an underwater mortgage that matures in March.
#american #march #doubt
American Strategic Investment told the SEC that substantial doubt about its going concern status remains.
Its $140M loan on 123 William St. matures in March, above the tower's $137.7M Q2 valuation.
The REIT lost $16M in the first half while its external manager's affiliates collected about $6M in fees.
American Strategic Investment Co. has warned that substantial doubt surrounds its ability to stay in business. The disclosure came in filings with the Securities and Exchange Commission. The company trades on the New York Stock Exchange under the NYC ticker. It could fall into bankruptcy within 12 months. According to Bisnow, its largest remaining ******* et carries an underwater mortgage that matures in March.
#american #march #doubt
1 month ago
