Bellevue Capital Partners LLC enter into a term sheet to acquire an additional 15% stake in American Strategic Investment Co. (NYSE:NYC) for $3.6 million on September 27, 2023. Bellevue Capital will acquire 350,000 shares at a purchase price equal to $10.25 per share in cash. The consideration will be fund out of our existing capital and assets. Holders of shares (the ?shareholders?) are urged to consider the following factors: Shareholders who tender their shares will give up the opportunity to participate in any future benefits from the ownership of shares, including potential future distributions by the Company from property operations or dispositions, and the purchase price per share payable to a tendering shareholder by Bellevue may be less than the total amount which might otherwise be received by the shareholder with respect to its shares. Bellevue is making the Offer for investment purposes and with the intention of making a profit from the ownership of the shares. In establishing the Purchase Price of $10.25 per share, Bellevue is motivated to establish the lowest price which might be acceptable to shareholders consistent with Bellevue?s objectives. The Offer to Purchase is not conditioned upon any minimum number of shares being tendered. If more than 350,000 shares are validly tendered and not withdrawn, Bellevue will accept for purchase 350,000 shares from tendering shareholders on a pro rata basis, subject to the terms and conditions herein. A shareholder may tender any or all shares owned by such shareholder. The Offer will expire at 11:59 p.m., New York City time, on October 26, 2023 (such date and time, as the same may be extended, the ?Expiration Date?), unless extended or terminated. As of October 10, 2023, American Strategic Investment's board of directors has made no determination of the fairness of the Tender Offer or whether it is in the best interests of stockholders, makes no recommendation and is neutral as to whether stockholders should accept or reject the offer to tender their shares.

Computershare Trust Company, N.A. acted as transfer agent and depositary bank to American Strategic Investment. Innisfree M&A Incorporated acted as information agent to American Strategic Investment. B. Riley Securities acted as financial advisor to the board of American Strategic Investment.