American strategic investment co. enters into letter of intent to sell 9 times square for $63.5 million

New york--(business wire)--american strategic investment co. (nyse: nyc) (“asic” or the “company”) announced today that it has agreed to a term sheet to sell its 9 times square midtown manhattan property (“9 times square”) for $63.5 million. it is expected that the closing of the transaction will occur within 120 days of the execution of a definitive purchase and sale agreement between the parties. the company previously announced that it had secured an amendment of the loan on 9 times square,.
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