(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class: | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Item 9.01. | Financial Statements and Exhibits. | |||||||
(d) | Exhibits |
Exhibit No. | Description | ||||
Press Release dated May 13, 2022 | |||||
Supplemental information for the quarter ended March 31, 2022 | |||||
104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document |
New York City REIT, Inc. | ||||||||
Date: May 13, 2022 | By: | /s/ Edward M. Weil, Jr. | ||||||
Edward M. Weil, Jr. | ||||||||
Chief Executive Officer, President, and Secretary |
Three Months Ended March 31, | ||||||||||||||
(In thousands, except per share data) | 2022 | 2021 | ||||||||||||
Revenue from tenants | $ | 15,646 | $ | 15,186 | ||||||||||
Net loss attributable to common stockholders | $ | (11,105) | $ | (13,535) | ||||||||||
Net loss per common share (a) | $ | (0.84) | $ | (1.06) | ||||||||||
FFO attributable to common stockholders | $ | (4,124) | $ | (5,009) | ||||||||||
FFO per common share (a) | (0.31) | $ | (0.39) | |||||||||||
Core FFO attributable to common stockholders | $ | (2,004) | $ | (2,894) | ||||||||||
Core FFO per common share (a) | $ | (0.15) | $ | (0.23) |
March 31, 2022 | December 31, 2021 | |||||||||||||
ASSETS | (Unaudited) | |||||||||||||
Real estate investments, at cost: | ||||||||||||||
Land | $ | 192,600 | $ | 192,600 | ||||||||||
Buildings and improvements | 573,667 | 572,576 | ||||||||||||
Acquired intangible assets | 87,478 | 87,478 | ||||||||||||
Total real estate investments, at cost | 853,745 | 852,654 | ||||||||||||
Less accumulated depreciation and amortization | (164,741) | (157,880) | ||||||||||||
Total real estate investments, net | 689,004 | 694,774 | ||||||||||||
Cash and cash equivalents | 10,342 | 11,674 | ||||||||||||
Restricted cash | 12,989 | 16,754 | ||||||||||||
Operating lease right-of-use asset | 55,114 | 55,167 | ||||||||||||
Prepaid expenses and other assets | 5,730 | 9,293 | ||||||||||||
Derivative asset, at fair value | 149 | — | ||||||||||||
Straight-line rent receivable | 27,144 | 25,838 | ||||||||||||
Deferred leasing costs, net | 9,710 | 9,551 | ||||||||||||
Total assets | $ | 810,182 | $ | 823,051 | ||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||
Mortgage notes payable, net | $ | 393,002 | $ | 398,117 | ||||||||||
Accounts payable, accrued expenses and other liabilities (including amounts due to related parties of $646 and $141 at March 31, 2022 and December 31, 2021, respectively) | 10,141 | 8,131 | ||||||||||||
Operating lease liability | 54,757 | 54,770 | ||||||||||||
Below-market lease liabilities, net | 3,898 | 4,224 | ||||||||||||
Derivative liability, at fair value | — | 1,553 | ||||||||||||
Deferred revenue | 4,785 | 5,120 | ||||||||||||
Total liabilities | 466,583 | 471,915 | ||||||||||||
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued and outstanding at March 31, 2022 and December 31, 2021 | — | — | ||||||||||||
Common stock, $0.01 par value, 300,000,000 shares authorized, 13,371,810 and 13,277,738 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively | 134 | 133 | ||||||||||||
Additional paid-in capital | 692,212 | 691,118 | ||||||||||||
Accumulated other comprehensive loss | 197 | (1,553) | ||||||||||||
Distributions in excess of accumulated earnings | (363,183) | (350,709) | ||||||||||||
Total stockholders’ equity | 329,360 | 338,989 | ||||||||||||
Non-controlling interests | 14,239 | 12,147 | ||||||||||||
Total equity | 343,599 | 351,136 | ||||||||||||
Total liabilities and equity | $ | 810,182 | $ | 823,051 |
Three Months Ended March 31, | ||||||||||||||
2022 | 2021 | |||||||||||||
Revenue from tenants | $ | 15,646 | $ | 15,186 | ||||||||||
Operating expenses: | ||||||||||||||
Asset and property management fees to related parties | 1,922 | 1,907 | ||||||||||||
Property operating | 8,578 | 8,736 | ||||||||||||
Equity-based compensation | 2,120 | 2,115 | ||||||||||||
General and administrative | 2,398 | 2,732 | ||||||||||||
Depreciation and amortization | 6,981 | 8,526 | ||||||||||||
Total operating expenses | 21,999 | 24,016 | ||||||||||||
Operating loss | (6,353) | (8,830) | ||||||||||||
Other income (expense): | ||||||||||||||
Interest expense | (4,715) | (4,713) | ||||||||||||
Other (expense) income | (37) | 8 | ||||||||||||
Total other expense | (4,752) | (4,705) | ||||||||||||
Net loss and Net loss attributable to common stockholders | $ | (11,105) | $ | (13,535) | ||||||||||
Net loss per share attributable to common stockholders — Basic and Diluted | $ | (0.84) | $ | (1.06) | ||||||||||
Weighted-average shares outstanding — Basic and Diluted | 13,299,650 | 12,780,027 | ||||||||||||
Three Months Ended March 31, | ||||||||||||||
2022 | 2021 | |||||||||||||
Adjusted EBITDA | ||||||||||||||
Net loss and Net loss attributable to common stockholders | $ | (11,105) | $ | (13,535) | ||||||||||
Depreciation and amortization | 6,981 | 8,526 | ||||||||||||
Interest expense | 4,715 | 4,713 | ||||||||||||
Equity-based compensation | 2,120 | 2,115 | ||||||||||||
Other expense | 37 | 8 | ||||||||||||
Adjusted EBITDA | 2,748 | 1,827 | ||||||||||||
Asset and property management fees to related parties | 1,922 | 1,907 | ||||||||||||
General and administrative | 2,398 | 2,732 | ||||||||||||
NOI | 7,068 | 6,466 | ||||||||||||
Accretion of below- and amortization of above-market lease liabilities and assets, net | (51) | (215) | ||||||||||||
Straight-line rent (revenue as a lessor) | (1,303) | (640) | ||||||||||||
Straight-line ground rent (expense as lessee) | 27 | 28 | ||||||||||||
Cash NOI | $ | 5,741 | $ | 5,639 | ||||||||||
Cash Paid for Interest: | ||||||||||||||
Interest expense | $ | 4,715 | $ | 4,713 | ||||||||||
Amortization of deferred financing costs | (385) | (385) | ||||||||||||
Total cash paid for interest | $ | 4,330 | $ | 4,328 |
Three Months Ended March 31, | Three Months Ended December 31, | |||||||||||||||||||
2022 | 2021 | 2021 | ||||||||||||||||||
Net loss and Net loss attributable to common stockholders (in accordance with GAAP) (1) | $ | (11,105) | $ | (13,535) | $ | (3,755) | ||||||||||||||
Impairment of real estate investments | — | — | 1,039 | |||||||||||||||||
Depreciation and amortization | 6,981 | 8,526 | 7,657 | |||||||||||||||||
FFO (as defined by NAREIT) attributable to common stockholders (1) | (4,124) | (5,009) | 4,941 | |||||||||||||||||
Equity-based compensation | 2,120 | 2,115 | 2,119 | |||||||||||||||||
Core FFO attributable to common stockholders (1) | $ | (2,004) | $ | (2,894) | $ | 7,060 |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Table of Contents | ||||||||
Item | Page | |||||||
Non-GAAP Definitions | 3 | |||||||
Key Metrics | 5 | |||||||
Consolidated Balance Sheets | 6 | |||||||
Consolidated Statements of Operations | 7 | |||||||
Non-GAAP Measures | 8 | |||||||
Debt Overview | 10 | |||||||
Future Minimum Lease Rents | 11 | |||||||
Top Ten Tenants | 12 | |||||||
Diversification by Property Type | 13 | |||||||
Diversification by Tenant Industry | 14 | |||||||
Lease Expirations | 15 | |||||||
Please note that totals may not add due to rounding. |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Financial Results (Amounts in thousands, except per share data) | ||||||||
Revenue from tenants | $ | 15,646 | ||||||
Net loss attributable to common stockholders | $ | (11,105) | ||||||
Basic and diluted net loss per share attributable to common stockholders | $ | (0.84) | ||||||
Cash NOI [1] | $ | 5,741 | ||||||
Adjusted EBITDA [1] | $ | 2,748 | ||||||
Core FFO attributable to common stockholders [1] | $ | (2,004) | ||||||
Balance Sheet and Capitalization (Amounts in thousands, except ratios and percentages) | ||||||||
Gross asset value [2] | $ | 974,923 | ||||||
Net debt [3] [4] | $ | 389,158 | ||||||
Total consolidated debt [4] | $ | 399,500 | ||||||
Total assets | $ | 810,182 | ||||||
Cash and cash equivalents [5] | $ | 10,342 | ||||||
Common shares outstanding as of March 31, 2022 | 13,372 | |||||||
Net debt to gross asset value | 39.9 | % | ||||||
Net debt to annualized adjusted EBITDA [1] (annualized based on quarterly results) | 35.4 | x | ||||||
Weighted-average interest rate cost [6] | 4.4 | % | ||||||
Weighted-average debt maturity (years) [7] | 4.9 | |||||||
Interest Coverage Ratio [8] | 0.6 | x | ||||||
Real Estate Portfolio | ||||||||
Number of properties | 8 | |||||||
Number of tenants | 76 | |||||||
Square footage (millions) | 1.2 | |||||||
Leased | 84.4 | % | ||||||
Weighted-average remaining lease term (years) [9] | 6.8 |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 |
March 31, 2022 | December 31, 2021 | |||||||||||||
ASSETS | (Unaudited) | |||||||||||||
Real estate investments, at cost: | ||||||||||||||
Land | $ | 192,600 | $ | 192,600 | ||||||||||
Buildings and improvements | 573,667 | 572,576 | ||||||||||||
Acquired intangible assets | 87,478 | 87,478 | ||||||||||||
Total real estate investments, at cost | 853,745 | 852,654 | ||||||||||||
Less accumulated depreciation and amortization | (164,741) | (157,880) | ||||||||||||
Total real estate investments, net | 689,004 | 694,774 | ||||||||||||
Cash and cash equivalents | 10,342 | 11,674 | ||||||||||||
Restricted cash | 12,989 | 16,754 | ||||||||||||
Operating lease right-of-use asset | 55,114 | 55,167 | ||||||||||||
Prepaid expenses and other assets | 5,730 | 9,293 | ||||||||||||
Derivative asset, at fair value | 149 | — | ||||||||||||
Straight-line rent receivable | 27,144 | 25,838 | ||||||||||||
Deferred leasing costs, net | 9,710 | 9,551 | ||||||||||||
Total assets | $ | 810,182 | $ | 823,051 | ||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||
Mortgage notes payable, net | $ | 393,002 | $ | 398,117 | ||||||||||
Accounts payable, accrued expenses and other liabilities (including amounts due to related parties of $646 and $141 at March 31, 2022 and December 31, 2021, respectively) | 10,141 | 8,131 | ||||||||||||
Operating lease liability | 54,757 | 54,770 | ||||||||||||
Below-market lease liabilities, net | 3,898 | 4,224 | ||||||||||||
Derivative liability, at fair value | — | 1,553 | ||||||||||||
Deferred revenue | 4,785 | 5,120 | ||||||||||||
Total liabilities | 466,583 | 471,915 | ||||||||||||
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued and outstanding at March 31, 2022 and December 31, 2021 | — | — | ||||||||||||
Common stock, $0.01 par value, 300,000,000 shares authorized, 13,371,810 and 13,277,738 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively | 134 | 133 | ||||||||||||
Additional paid-in capital | 692,212 | 691,118 | ||||||||||||
Accumulated other comprehensive loss | 197 | (1,553) | ||||||||||||
Distributions in excess of accumulated earnings | (363,183) | (350,709) | ||||||||||||
Total stockholders’ equity | 329,360 | 338,989 | ||||||||||||
Non-controlling interests | 14,239 | 12,147 | ||||||||||||
Total equity | 343,599 | 351,136 | ||||||||||||
Total liabilities and equity | $ | 810,182 | $ | 823,051 |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Three Months Ended | ||||||||||||||||||||||||||
March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | |||||||||||||||||||||||
Revenue from tenants | $ | 15,646 | $ | 24,208 | $ | 15,848 | $ | 14,977 | ||||||||||||||||||
Expenses: | ||||||||||||||||||||||||||
Asset and property management fees to related parties | 1,922 | 1,938 | 1,862 | 1,847 | ||||||||||||||||||||||
Property operating | 8,578 | 8,275 | 8,029 | 8,323 | ||||||||||||||||||||||
Impairment of real estate investments | — | 1,039 | 413 | — | ||||||||||||||||||||||
Equity-based compensation | 2,120 | 2,119 | 2,121 | 2,120 | ||||||||||||||||||||||
General and administrative | 2,398 | 2,104 | 1,884 | 1,984 | ||||||||||||||||||||||
Depreciation and amortization | 6,981 | 7,657 | 7,851 | 7,023 | ||||||||||||||||||||||
Total expenses | 21,999 | 23,132 | 22,160 | 21,297 | ||||||||||||||||||||||
Operating loss | (6,353) | 1,076 | (6,312) | (6,320) | ||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||
Interest expense | (4,715) | (4,811) | (4,803) | (4,763) | ||||||||||||||||||||||
Other (expense) income | (37) | 3 | 5 | 31 | ||||||||||||||||||||||
Total other expense, net | (4,752) | (4,808) | (4,798) | (4,732) | ||||||||||||||||||||||
Net loss before income taxes | (11,105) | (3,732) | (11,110) | (11,052) | ||||||||||||||||||||||
Income tax expense | — | (23) | (14) | — | ||||||||||||||||||||||
Net loss and Net loss attributable to common stockholders | $ | (11,105) | $ | (3,755) | $ | (11,124) | $ | (11,052) | ||||||||||||||||||
Basic and Diluted Net Loss Per Share: | ||||||||||||||||||||||||||
Net loss per share attributable to common stockholders — Basic and Diluted | $ | (0.84) | $ | (0.29) | $ | (0.85) | $ | (0.87) | ||||||||||||||||||
Weighted average shares outstanding —Basic and Diluted | 13,299,650 | 13,252,567 | 13,093,486 | 12,799,703 | ||||||||||||||||||||||
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Three Months Ended | ||||||||||||||||||||||||||
March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | |||||||||||||||||||||||
EBITDA: | ||||||||||||||||||||||||||
Net loss | $ | (11,105) | $ | (3,755) | $ | (11,124) | $ | (11,052) | ||||||||||||||||||
Depreciation and amortization | 6,981 | 7,657 | 7,851 | 7,023 | ||||||||||||||||||||||
Interest expense | 4,715 | 4,811 | 4,803 | 4,763 | ||||||||||||||||||||||
Income tax expense | — | 23 | 14 | — | ||||||||||||||||||||||
EBITDA | 591 | 8,736 | 1,544 | 734 | ||||||||||||||||||||||
Impairment of real estate investments | — | 1,039 | 413 | — | ||||||||||||||||||||||
Equity-based compensation | 2,120 | 2,119 | 2,121 | 2,120 | ||||||||||||||||||||||
Other expense (income) | 37 | (3) | (5) | (31) | ||||||||||||||||||||||
Adjusted EBITDA | 2,748 | 11,891 | 4,073 | 2,823 | ||||||||||||||||||||||
Asset and property management fees to related parties | 1,922 | 1,938 | 1,862 | 1,847 | ||||||||||||||||||||||
General and administrative | 2,398 | 2,104 | 1,884 | 1,984 | ||||||||||||||||||||||
NOI | 7,068 | 15,933 | 7,819 | 6,654 | ||||||||||||||||||||||
Accretion of below- and amortization of above-market lease liabilities and assets, net | (51) | (7,864) | (367) | (225) | ||||||||||||||||||||||
Straight-line rent (revenue as a lessor) | (1,303) | (972) | (1,738) | (438) | ||||||||||||||||||||||
Straight-line ground rent (expense as lessee) | 27 | 27 | 28 | 26 | ||||||||||||||||||||||
Cash NOI | $ | 5,741 | $ | 7,124 | $ | 5,742 | $ | 6,017 | ||||||||||||||||||
Cash Paid for Interest: | ||||||||||||||||||||||||||
Interest expense | $ | 4,715 | $ | 4,811 | $ | 4,803 | $ | 4,763 | ||||||||||||||||||
Amortization of deferred financing costs | (385) | (386) | (386) | (386) | ||||||||||||||||||||||
Total cash paid for interest | $ | 4,330 | $ | 4,425 | $ | 4,417 | $ | 4,377 |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Three Months Ended | ||||||||||||||||||||||||||
March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | |||||||||||||||||||||||
Funds from operations (FFO): | ||||||||||||||||||||||||||
Net loss attributable to common stockholders [1] | $ | (11,105) | $ | (3,755) | $ | (11,124) | $ | (11,052) | ||||||||||||||||||
Impairment of real estate investments | — | 1,039 | 413 | — | ||||||||||||||||||||||
Depreciation and amortization | 6,981 | 7,657 | 7,851 | 7,023 | ||||||||||||||||||||||
FFO attributable to common stockholders [1] | (4,124) | 4,941 | (2,860) | (4,029) | ||||||||||||||||||||||
Equity-based compensation | 2,120 | 2,119 | 2,121 | 2,120 | ||||||||||||||||||||||
Core FFO attributable to common stockholders [1] | $ | (2,004) | $ | 7,060 | $ | (739) | $ | (1,909) | ||||||||||||||||||
Weighted average common shares outstanding — Basic and Diluted | 13,300 | 13,253 | 13,093 | 12,800 | ||||||||||||||||||||||
Net loss per share attributable to common shareholders — Basic and Diluted | $ | (0.84) | $ | (0.29) | $ | (0.85) | $ | (0.87) | ||||||||||||||||||
FFO per common share | $ | (0.31) | $ | 0.37 | $ | (0.22) | $ | (0.31) | ||||||||||||||||||
Core FFO per common share | $ | (0.15) | $ | 0.53 | $ | (0.06) | $ | (0.15) |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Year of Maturity | Number of Encumbered Properties | Weighted-Average Debt Maturity (Years) [1] | Weighted-Average Interest Rate [1] [2] | Total Outstanding Balance [3] | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||
2022 (remainder) | — | — | — | % | $ | — | ||||||||||||||||||||
2023 | — | — | — | % | — | |||||||||||||||||||||
2024 | 1 | 2.1 | 3.7 | % | 49,500 | |||||||||||||||||||||
2025 | — | — | — | % | — | |||||||||||||||||||||
2026 | 1 | 4.3 | 4.2 | % | 99,000 | |||||||||||||||||||||
2027 | 1 | 4.9 | 4.7 | % | 140,000 | |||||||||||||||||||||
Thereafter | 4 | 6.7 | 4.3 | % | 111,000 | |||||||||||||||||||||
Total Debt | 7 | 4.9 | 4.4 | % | $ | 399,500 |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Future Minimum Base Rent Payments [1] | ||||||||
2022 (remainder) | $ | 52,870 | ||||||
2023 | 49,430 | |||||||
2024 | 47,574 | |||||||
2025 | 40,157 | |||||||
2026 | 35,368 | |||||||
2027 | 33,067 | |||||||
Thereafter | 166,710 | |||||||
Total | $ | 425,176 |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Tenant / Lease Guarantor | Property Type | Tenant Industry | Annualized SL Rent [1] | SL Rent Percent | Remaining Lease Term [2] | Investment Grade [3] | |||||||||||||||||||||||||||||
City National Bank | Office / Retail | Financial Services | $ | 4,356 | 7 | % | 11.3 | Yes | |||||||||||||||||||||||||||
Equinox | Retail | Fitness | 3,448 | 6 | % | 16.7 | No | ||||||||||||||||||||||||||||
Planned Parenthood Federation of America, Inc. | Office | Non-Profit | 3,337 | 6 | % | 9.3 | Yes | ||||||||||||||||||||||||||||
Cornell University | Office | Healthcare Services | 2,476 | 4 | % | 2.3 | Yes | ||||||||||||||||||||||||||||
The City of New York - Dept. of Youth & Community Development | Office | Government/Public Administration | 2,215 | 4 | % | 15.8 | Yes | ||||||||||||||||||||||||||||
CVS | Retail | Retail | 2,161 | 4 | % | 12.4 | Yes | ||||||||||||||||||||||||||||
Waterfall Asset Management LLC | Office | Financial Services | 2,019 | 3 | % | 0.4 | No | ||||||||||||||||||||||||||||
USA General Services Administration | Office | Government/Public Administration | 1,978 | 3 | % | 0.2 | Yes | ||||||||||||||||||||||||||||
I Love NY Gifts | Retail | Retail | 1,932 | 3 | % | 14.2 | No | ||||||||||||||||||||||||||||
NYS Licensing | Office | Government/Public Administration | 1,833 | 3 | % | 5.3 | Yes | ||||||||||||||||||||||||||||
Subtotal | 25,755 | 43 | % | 9.5 | |||||||||||||||||||||||||||||||
Remaining portfolio | 33,581 | 57 | % | ||||||||||||||||||||||||||||||||
Total Portfolio | $ | 59,336 | 100 | % |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Total Portfolio | ||||||||||||||||||||||||||
Property Type | Annualized SL Rent [1] | SL Rent Percent | Square Feet | Sq. ft. Percent | ||||||||||||||||||||||
Office | $ | 43,958 | 74 | % | 801 | 82 | % | |||||||||||||||||||
Retail | 14,472 | 24 | % | 172 | 17 | % | ||||||||||||||||||||
Other | 906 | 2 | % | 9 | 1 | % | ||||||||||||||||||||
Total | $ | 59,336 | 100 | % | 982 | 100 | % |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Total Portfolio | ||||||||||||||||||||||||||
Industry Type | Annualized SL Rent [1] | SL Rent Percent | Square Feet | Sq. ft. Percent | ||||||||||||||||||||||
Financial Services | $ | 17,100 | 29 | % | 215 | 22 | % | |||||||||||||||||||
Government / Public Administration | 7,650 | 13 | % | 173 | 18 | % | ||||||||||||||||||||
Retail | 7,223 | 12 | % | 56 | 6 | % | ||||||||||||||||||||
Non-profit | 6,737 | 11 | % | 146 | 15 | % | ||||||||||||||||||||
Services | 3,748 | 6 | % | 67 | 7 | % | ||||||||||||||||||||
Fitness | 3,448 | 6 | % | 30 | 3 | % | ||||||||||||||||||||
Technolgy | 3,244 | 6 | % | 59 | 6 | % | ||||||||||||||||||||
Healthcare Services | 3,140 | 5 | % | 43 | 4 | % | ||||||||||||||||||||
Professional Services | 2,825 | 5 | % | 62 | 6 | % | ||||||||||||||||||||
Office space | 1,302 | 2 | % | 25 | 3 | % | ||||||||||||||||||||
Other [2] | 2,919 | 5 | % | 106 | 10 | % | ||||||||||||||||||||
Total | $ | 59,336 | 100 | % | 982 | 100 | % |
New York City REIT, Inc. | ||||||||
Supplemental Information | ||||||||
Quarter ended March 31, 2022 (Unaudited) |
Year of Expiration | Number of Leases Expiring | Annualized SL Rent [1] | Annualized SL Rent Percent | Leased Rentable Square Feet | Percent of Rentable Square Feet Expiring | |||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||
2021 (Remaining) | 16 | $ | 6,682 | 11.3 | % | 195 | 19.9 | % | ||||||||||||||||||||||||
2022 | 10 | 3,916 | 6.6 | % | 55 | 5.6 | % | |||||||||||||||||||||||||
2023 | 9 | 6,110 | 10.3 | % | 97 | 9.9 | % | |||||||||||||||||||||||||
2024 | 11 | 6,510 | 11.0 | % | 113 | 11.5 | % | |||||||||||||||||||||||||
2025 | 8 | 3,265 | 5.5 | % | 64 | 6.5 | % | |||||||||||||||||||||||||
2026 | 9 | 3,536 | 6.0 | % | 74 | 7.6 | % | |||||||||||||||||||||||||
2027 | 8 | 3,407 | 5.7 | % | 56 | 5.7 | % | |||||||||||||||||||||||||
2028 | 6 | 2,751 | 4.6 | % | 47 | 4.8 | % | |||||||||||||||||||||||||
2029 | 3 | 1,810 | 3.1 | % | 34 | 3.4 | % | |||||||||||||||||||||||||
2030 | 8 | 5,554 | 9.4 | % | 95 | 9.7 | % | |||||||||||||||||||||||||
2031 | 2 | 676 | 1.1 | % | 13 | 1.3 | % | |||||||||||||||||||||||||
2032 | 5 | 4,356 | 7.3 | % | 36 | 3.6 | % | |||||||||||||||||||||||||
2033 | 2 | 2,161 | 3.6 | % | 10 | 1.0 | % | |||||||||||||||||||||||||
2034 | 3 | 640 | 1.1 | % | 4 | 0.4 | % | |||||||||||||||||||||||||
2035 | 4 | 2,298 | 3.9 | % | 17 | 1.8 | % | |||||||||||||||||||||||||
2036 | 2 | 2,215 | 3.7 | % | 41 | 4.1 | % | |||||||||||||||||||||||||
Thereafter (>2036) | 3 | 3,449 | 5.8 | % | 31 | 3.2 | % | |||||||||||||||||||||||||
Total | 109 | $ | 59,336 | 100 | % | 982 | 100 | % |
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