American Strategic Investment Facing 1140 Sixth Foreclosure
American Strategic Investment Company is on the verge of losing another Manhattan office property, this time via foreclosure.Foreclosure proceedings have been launched at 1140 Sixth Avenue in Midtown West, Crain’s reported. ASIC appears resigned to losing the property, according to a Fitch Ratings report, as it “has indicated a lack of funds to maintain the property” and “expressed willingness to cooperate with the lender in returning the property.”The 250,000-square-foot property is at the corner of West 44th Street. Its anchor tenant is City National Bank, but filling the space has...