Sec Form 4 Filing - SCHORSCH NICHOLAS S @ New York City REIT, Inc. - 2022-05-02

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
SCHORSCH NICHOLAS S
2. Issuer Name and Ticker or Trading Symbol
New York City REIT, Inc. [ NYC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
C/O BELLEVUE CAPITAL PARTNERS, LLC, 222 BELLEVUE AVENUE
3. Date of Earliest Transaction (MM/DD/YY)
05/02/2022
(Street)
NEWPORT, RI02840
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A common stock 05/02/2022 P 12,500 A $ 12.28( 1 )( 2 ) 1,256,091 I See footnote( 1 )
Class A common stock 05/03/2022 P 12,500 A $ 11.77( 1 )( 3 ) 1,268,591 I See footnote( 1 )
Class A common stock 05/04/2022 P 10,400 A $ 11.69( 1 )( 4 ) 1,278,991 I See footnote( 1 )
Class A common stock 05/02/2022 A 40,247( 5 ) A $ 0 167,913 I See footnote( 6 )
Class A common stock 119,904 D( 7 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SCHORSCH NICHOLAS S
C/O BELLEVUE CAPITAL PARTNERS, LLC
222 BELLEVUE AVENUE
NEWPORT, RI02840
X
Bellevue Capital Partners, LLC
222 BELLEVUE AVENUE
NEWPORT, RI02840
X
AR Global Investments, LLC
C/O BELLEVUE CAPITAL PARTNERS, LLC
222 BELLEVUE AVENUE
NEWPORT, RI02840
X
American Realty Capital III, LLC
C/O BELLEVUE CAPITAL PARTNERS, LLC
222 BELLEVUE AVENUE
NEWPORT, RI02840
X
New York City Special Ltd. Partnership, LLC
C/O BELLEVUE CAPITAL PARTNERS, LLC
222 BELLEVUE AVENUE
NEWPORT, RI02840
X
New York City Advisors, LLC
C/O BELLEVUE CAPITAL PARTNERS, LLC
222 BELLEVUE AVENUE
NEWPORT, RI02840
X
Signatures
/s/ See signatures attached as Exhibit 99.1 05/04/2022
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The purchases reported in this Form 4 were automatically effected pursuant to a previously executed purchasing plan of Bellevue Capital Partners ("BCP") that is intended to comply with Rule 10b5-1(c) promulgated under the Securities Exchange Act of 1934, as amended. Mr. Nicholas S. Schorsch is the sole managing member of BCP, and has voting and investment discretion with respect to the securities held of record by BCP.
( 2 )The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $11.79 to $12.45, inclusive. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, to any security holder of the Issuer, or to the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth above.
( 3 )The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $11.47 to $11.98, inclusive. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, to any security holder of the Issuer, or to the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth above.
( 4 )The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $11.31 to $11.83, inclusive. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, to any security holder of the Issuer, or to the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth above.
( 5 )Fully-vested shares of Class A common stock of the Issuer issued pursuant to the 2020 Advisor Omnibus Incentive Compensation Plan of the Issuer in connection with fees earned by New York City Advisors, LLC, the external advisor of the Issuer.
( 6 )Mr. Nicholas S. Schorsch is the sole managing member of BCP, who is the ultimate controlling person of New York City Advisors, LLC, and has voting and investment discretion with respect to the securities held of record by New York City Advisors, LLC. BCP is the sole member of AR Global Investments, LLC, who is the sole member of American Realty Capital III, LLC ("ARC III"). ARC III is the sole member of New York City Special Limited Partnership, LLC, who is the sole member of New York City Advisors, LLC, the record holder of the securities reported herein.
( 7 )Represents shares of Class A common stock owned solely by Mr. Nicholas S. Schorsch.

Remarks:
Exhibit 99.1 - Joint Filer Information, which is incorporated herein by reference and describes in further detail the relationships of the Reporting Persons to the Issuer. // The Reporting Persons are filing this Form 4 because they may be deemed to be members of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding common stock. The Reporting Persons expressly disclaim beneficial ownership of the securities beneficially owned by the other group members. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

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