American Strategic Investment Co. · NYSE:NYC
American Strategic Investment — New York City REIT — Q3 2019 Earnings Presentation
13 slides from American Strategic Investment's earnings presentation, November 2019
Slide 1: New York City REIT 3rd Quarter 2019 Investor Presentation
NEW YORK CITY REIT 3rd Quarter 2019 Investor Presentation 196 Orchard Street - New York, NY
Slide 2: NYCR Highlights
NYCR Highlights New York City REIT increased portfolio occupancy to over 92% ▪ Increased portfolio occupancy from 90.3% to 92.4% year-over-year ▪ 9 Times Square lease-up has been extremely successful with occupancy materially increasing from 74.6% in Q3 2018 to 88.2% in Q3 2019 ▪ In July, the Compan
Slide 3: Q3 2019 Leasing Activity
Q3 2019 Leasing Activity 9/30/2018 9/30/2019 Occupied SF Increased Property Rentable SF Occupancy Occupancy Increase / (Decrease) Occupancy 123 William Street 543k SF 95% 97% 13k SF ✓ 1140 Avenue of the Americas 242k SF 91% 83% (20k) SF 9 Times Square 167k SF 75% 88% 23k SF ✓ 196 Orchard Street(1) 6
Slide 4: Key Initiatives
Key Initiatives NYCR Continues to Execute on its Investment Strategy ▪ NYCR’s management team continues to focus on its strategic objectives: ▪ Emphasis on leasing activity, including both new leases and renewal activity to drive occupancy ▪ Maintain an efficient capital structure ▪ Pursue selective
Slide 5: New York City Market Trends
New York City Market Trends NYCR continues to be bullish on the long-term fundamentals in the New York City real estate market, particularly in the Manhattan office market Millions NYC Population at Record High(3) NYC Employment Trends (1) Jobs in 000's 9.5 9.0 4,525 4,632 8.5 8.8 5,000 4,130 4,255
Slide 6: Portfolio Overview
Portfolio Overview NYCR’s portfolio of $868 million of real estate investments, at cost, is distributed across eight mixed-use office and retail condominium buildings located in New York City ▪ Eight properties consisting of 1.2 million square feet ▪ Portfolio occupancy of 92.4% ▪ Weighted average r
Slide 7: Balance Sheet and Distribution Update
Balance Sheet and Distribution Update NYCR maintains a conservative balance sheet with a net leverage of 40%(2) $ amounts in 000’s Consolidated Balance Sheets Q3 2019 Q2 2019 Distribution Update Total Real Estate Investments (at Cost) $868,187 $777,373 NYCR continues to make progress on our previous
Slide 8: Management Team
Management Team Michael Weil Chief Executive Officer, President and Chairman of the Board of Directors ▪ Founding partner of AR Global ▪ Previously served as Senior VP of sales and leasing for American Financial Realty Trust (AFRT) ▪ Served as president of the Board of Directors of the Real Estate I
Slide 9: Supplemental Information
Supplemental Information On October 24, 2019, the independent directors of the Board unanimously approved an estimated per-share net asset value, or NAV, equal to $20.26 as of June 30, 2019. You may find a detailed discussion of the process undertaken to determine the NAV in the Form 8-K filed on Oc
Slide 10: Reconciliation of Non-GAAP Metrics: NOI
Reconciliation of Non-GAAP Metrics: NOI Net Operating Income (NOI) Reconciliation Schedule Three Months Ended Three Months Ended (in thousands) September 30, 2019 September 30, 2018 Net Loss (in accordance with GAAP) $ (4,809) $ (5,865) Other income (221) (111) General & Administrative 1,200 2,261 A
Slide 11: Important Information
Important Information Risk Factors For a discussion of the risks which should be considered in connection with our company, see the section entitled “Item 1A. Risk Factors” in New York City REIT, Inc.’s (the “Company” or “NYCR”) Annual Report on Form 10-K filed with the U.S. Securities and Exchange
Slide 12: Risk Factors
Risk Factors There are risks associated with an investment in our Company. The following is a summary of some of these risks. For a discussion of the risks which should be considered in connection with our Company, see the section entitled “Item 1A. Risk Factors” in the Company’s Annual Report on Fo
Slide 13: For account information, including balances and the status of submitted paperwork, please call
▪ For account information, including balances and the status of submitted paperwork, please call us at (866) 902-0063 ▪ Financial Advisors may view client accounts, statements and tax forms NewYorkCityREIT.com at www.dstvision.com ▪ Shareholders may access their accounts at www.ar-global.com 13