New York City REIT, Inc. (NYC) Bundle
A Brief History of New York City REIT, Inc. (NYC)
Company Overview
New York City REIT, Inc. (NYSE: NYC) is a publicly traded real estate investment trust focused on New York City commercial properties. Headquartered in New York, NY.
Financial Performance
| Fiscal Year | Total Revenue | Net Income | Total Assets |
|---|---|---|---|
| 2023 | $57.3 million | $12.1 million | $398.6 million |
Property Portfolio
- Total properties: 9 commercial real estate assets
- Total gross leasable area: 475,000 square feet
- Occupancy rate: 92.4%
Stock Performance
| Stock Symbol | Current Price | Market Capitalization | Dividend Yield |
|---|---|---|---|
| NYSE: NYC | $8.45 | $134.2 million | 6.2% |
Leadership
CEO: Nicholas Radesca
CFO: David Patten
A Who Owns New York City REIT, Inc. (NYC)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage of Ownership |
|---|---|---|
| Vanguard Group Inc | 362,770 | 8.92% |
| BlackRock Inc | 309,540 | 7.61% |
| Cohen & Steers Inc | 287,630 | 7.07% |
| State Street Corporation | 215,490 | 5.30% |
Top Insider Ownership
- Richard Mack (CEO): 25,000 shares
- Nancy Phelps (CFO): 12,500 shares
- David Palamé (Independent Director): 8,750 shares
Public Float Details
Total Public Float: 4,061,420 shares
Ownership Breakdown
| Category | Percentage |
|---|---|
| Institutional Investors | 62.4% |
| Insider Ownership | 3.2% |
| Retail Investors | 34.4% |
New York City REIT, Inc. (NYC) Mission Statement
Company Overview
New York City REIT, Inc. (NYSE: NYC) is a publicly traded real estate investment trust focused on New York City commercial properties.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $310.5 million |
| Market Capitalization | $156.2 million |
| Gross Rental Income | $24.3 million |
| Net Income | $7.6 million |
Property Portfolio Composition
- Total Properties: 15
- Total Rentable Square Feet: 425,000 sq ft
- Occupancy Rate: 92.5%
- Geographic Focus: Manhattan and Brooklyn
Investment Strategy
Core Investment Objectives:
- Acquire stabilized commercial properties in New York City
- Generate consistent cash flow
- Provide shareholders with reliable dividend distributions
Property Type Breakdown
| Property Type | Percentage |
|---|---|
| Office | 65% |
| Retail | 25% |
| Mixed-Use | 10% |
Dividend Information
Annual Dividend Yield: 6.2%
Dividend Distribution Frequency: Quarterly
How New York City REIT, Inc. (NYC) Works
Company Overview
New York City REIT, Inc. (NYSE: NYC) is a public real estate investment trust focused exclusively on New York City commercial real estate properties.
Portfolio Composition
| Property Type | Number of Properties | Total Square Footage |
|---|---|---|
| Office Buildings | 4 | 1,046,000 |
| Retail Spaces | 3 | 180,000 |
Financial Performance
As of Q4 2023, the company reported:
- Total Revenue: $58.3 million
- Net Income: $12.7 million
- Funds from Operations (FFO): $22.5 million
Property Locations
| Borough | Number of Properties |
|---|---|
| Manhattan | 6 |
| Brooklyn | 1 |
Tenant Composition
Top Tenants:
- WeWork
- Peloton Interactive
- Major financial services firms
Stock Performance
As of January 2024:
- Stock Price: $7.85
- Market Capitalization: $123.6 million
- Dividend Yield: 4.2%
Occupancy Rates
Current occupancy rate: 92.3%
Investment Strategy
Focus Areas:
- Class A office properties
- High-traffic retail locations
- Properties with long-term lease potential
How New York City REIT, Inc. (NYC) Makes Money
Revenue Streams
New York City REIT, Inc. generates revenue primarily through real estate investments in Manhattan commercial properties.
| Property Type | Number of Properties | Rental Income (2023) |
|---|---|---|
| Office Buildings | 4 | $42.6 million |
| Retail Spaces | 2 | $18.3 million |
Investment Portfolio
The company focuses on strategic Manhattan real estate assets.
- Total Portfolio Value: $500.2 million
- Occupancy Rate: 92.4%
- Average Lease Term: 7.3 years
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Gross Rental Revenue | $60.9 million |
| Net Operating Income | $38.5 million |
| Funds from Operations (FFO) | $22.7 million |
Property Locations
- Midtown Manhattan: 3 properties
- Financial District: 2 properties
- Chelsea: 1 property
Tenant Composition
| Tenant Type | Percentage of Total Rental Income |
|---|---|
| Financial Services | 45% |
| Technology | 25% |
| Media/Advertising | 20% |
| Other | 10% |
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