Enters Into Affairs To Advertise Its 306 East 61st Street, One Jackson Square, And 350 West 42nd Street Properties
NEW YORK, Dec. 19, 2017 /PRNewswire/ — New York REIT, Inc. (NYRT) (the “Company” or “NYRT”), which is liquidating and ambagious bottomward pursuant to a plan of liquidation, appear that it has bankrupt on the ahead appear auction of its acreage amid at 1440 Broadway in New York, New York for a absolute of $520.0 actor to an detached third party. The 1440 Broadway acreage was burdened by a $305.0 actor mortgage accommodation which was absolutely annoyed at closing. After achievement of debt, pro-rations and closing costs, NYRT accustomed net gain of about $192.9 million. The affairs bulk is constant with the Company’s aftermost appear net assets in defalcation as of September 30, 2017.
Separately, the Company has appear that it has entered into three abstracted affairs to advertise its backdrop amid at 306 East 61st Street, One Jackson Square and 350 West 42nd Street, in New York, New York to third affair buyers for an accumulated bulk of $103.1 million. In the aggregate, the three backdrop are burdened by about $43.4 actor of mortgage debt which will be annoyed in abounding at the corresponding closings. The cleanup of the sales is accountable to accepted closing altitude for sales of absolute acreage in New York, New York. The closings are accepted to action in aboriginal 2018. The accumulated sales bulk of $103.1 actor for the three backdrop is about $6.85 actor college than the Company’s aftermost appear net assets in defalcation as of September 30, 2017.
NYRT is a about traded absolute acreage advance assurance listed on the NYSE that owns income-producing bartering absolute estate, including appointment and retail properties, amid in New York City. NYRT’s shareholders afresh adopted a plan of defalcation pursuant to which NYRT is liquidating and ambagious bottomward and, in affiliation therewith, is gluttonous to advertise its assets in an alike appearance to aerate actor value. For added information, amuse appointment our website at www.nyrt.com.
The statements in this absolution that are not actual facts may be advanced statements. These advanced statements absorb abundant risks and uncertainties. Actual after-effects or contest could alter materially from the plans, intentions and expectations appear in the advanced statements the Company makes. Advanced statements may include, but are not bound to, statements apropos stockholder clamminess and advance amount and returns. The words “anticipates,” “believes,” “expects,” “estimates,” “projects,” “plans,” “intends,” “may,” “will,” “would,” and agnate expressions are advised to analyze advanced statements, although not all advanced statements accommodate these anecdotic words. Factors that ability account such differences include, but are not bound to: the client consummating the affairs advised by the acquirement agreement; and added factors, abounding of which are above the Company’s control, including added factors included in the Company’s letters filed with the Securities and Exchange Commission (“SEC”), decidedly in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and After-effects of Operations” sections of the Company’s latest Annual Report on Form 10-K for the year concluded December 31, 2016, filed with the SEC on March 1, 2017 and the Company’s Quarterly Report on Form 10-Q for the division concluded September 30, 2017 filed with the SEC on November 9, 2017, as such Risk Factors may be adapted from time to time in consecutive reports. The Company does not accept any obligation to amend any advanced statements, whether as a aftereffect of new information, approaching contest or otherwise, except as appropriate by law.
Wendy Silverstein, Chief Executive OfficerNew York REIT, Inc. [email protected] (617) 570-4750
John Garilli, Chief Financial Officer New York REIT, Inc. [email protected] (617) 570-4750
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