American Strategic Investment Company (ASIC) is selling 9 Times Square for $63.5 million, significantly less than the $162.3 million it paid in 2014. Despite this, ASIC expects to net $13.5 million from the sale. The buyer remains unknown. This move is part of ASIC’s strategy to diversify into higher-yield investments outside Manhattan real estate. ASIC is also exploring the sale of properties at 123 William Street and 196 Orchard Street to reduce leverage, which would unload 67% of its current square footage.
123 William Street
