EX-99.1
2
v797849_ex99-1.htm
EXHIBIT 99.1
CONTACTS
From: Anthony J. DeFazio
For: Michael A. Happel, CIO
Diccicco Battista Communications
American Realty Capital New York Recovery REIT, Inc.
tdefazio@dbcworks.com
mhappel@arlcap.com
Ph: 484-342-3600
Ph: 212-415-6500
FOR IMMEDIATE RELEASE
American Realty Capital New York Recovery
REIT Purchases Three Significant Manhattan Properties for
Over $124 Million to Close out a Strong
2012
New York, New York, January 2, 2013
- American
Realty Capital New York Recovery REIT, Inc. (the "Company") announced today that it closed $124.4 million of property
acquisitions, exclusive of closing costs, to punctuate a strong year. In the last week of 2012, the Company closed the following
acquisitions: the fee simple interests in two institutional quality office buildings located at 256 West 38
th
Street
and 229 West 36
th
Street in Midtown Manhattan; and the master lease for the commercial portion of a cooperative located
at 350 Bleecker Street in the Greenwich Village neighborhood of Manhattan. Each acquisition was funded with proceeds from the Company's
ongoing initial public offering and debt financing.
These three acquisitions increased the Company's portfolio
by contract purchase price to $350.7 million, exclusive of closing costs.
The following table provides information relating to the contract
purchase price, rentable square feet and the percentage occupancy related to the three acquisitions.
Property
Contract Purchase Price (in
millions)
Rentable Square
Feet
Percentage
Occupancy
256 West 38
th
Street
$ 48.6
118,815
87%
229 West 36
th
Street
$ 64.9
148,894
100%
350 Bleecker Street
$ 10.9
14,511
100%
"With these three acquisitions, we have closed out 2012
strongly", noted Michael A. Happel, Chief Investment Officer of the Company. Mr. Happel continued, "These acquisitions
have greatly enhanced our portfolio of stable, income-producing properties in the greater metropolitan area of New York City. Our
total portfolio of roughly $351 million is consistent with our investment strategy and a testimony to our real estate team's
dedication to purchasing properties with attractive current yield and upside potential".
About the Company
American Realty Capital New York Recovery
REIT, Inc. is a publicly registered, non-traded real estate investment ("REIT") trust that has qualified as a REIT
for tax purposes. Additional information about the Company can be found on its website at
www.newyorkrecoveryreit.com
.
The statements in this press release that
are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that
could cause the outcome to be materially different. In addition, words such as "anticipate", "believe,"
"expect" and "intend" indicate a forward-looking statement, although not all forward-looking statements
include these words.
For more information about this announcement, please contact
Tony DeFazio at 484-342-3600 or tdefazio@dbcworks.com.

EX - 99 . 1 2 v797849 _ ex99 - 1 . htm EXHIBIT 99 . 1 CONTACTS From : Anthony J . DeFazio For : Michael A . Happel , CIO Diccicco Battista Communications American Realty Capital New York Recovery REIT , Inc . tdefazio@dbcworks.com mhappel@arlcap.com Ph : 484 - 342 - 3600 Ph : 212 - 415 - 6500 FOR IMMEDIATE RELEASE American Realty Capital New York Recovery REIT Purchases Three Significant Manhattan Properties for Over $ 124 Million to Close out a Strong 2012 New York , New York , January 2 , 2013 - American Realty Capital New York Recovery REIT , Inc . ( the " Company " ) announced today that it closed $ 124.4 million of property acquisitions , exclusive of closing costs , to punctuate a strong year . In the last week of 2012 , the Company closed the following acquisitions : the fee simple interests in two institutional quality office buildings located at 256 West 38 th Street and 229 West 36 th Street in Midtown Manhattan ; and the master lease for the commercial portion of a cooperative located at 350 Bleecker Street in the Greenwich Village neighborhood of Manhattan . Each acquisition was funded with proceeds from the Company 's ongoing initial public offering and debt financing . These three acquisitions increased the Company 's portfolio by contract purchase price to $ 350.7 million , exclusive of closing costs . The following table provides information relating to the contract purchase price , rentable square feet and the percentage occupancy related to the three acquisitions . Property Contract Purchase Price ( in millions ) Rentable Square Feet Percentage Occupancy 256 West 38 th Street $ 48.6 118,815 87 % 229 West 36 th Street $ 64.9 148,894 100 % 350 Bleecker Street $ 10.9 14,511 100 % " With these three acquisitions , we have closed out 2012 strongly " , noted Michael A . Happel , Chief Investment Officer of the Company . Mr . Happel continued , " These acquisitions have greatly enhanced our portfolio of stable , income - producing properties in the greater metropolitan area of New York City . Our total portfolio of roughly $ 351 million is consistent with our investment strategy and a testimony to our real estate team 's dedication to purchasing properties with attractive current yield and upside potential " . About the Company American Realty Capital New York Recovery REIT , Inc . is a publicly registered , non - traded real estate investment ( " REIT " ) trust that has qualified as a REIT for tax purposes . Additional information about the Company can be found on its website at www.newyorkrecoveryreit.com . The statements in this press release that are not historical facts may be forward - looking statements . These forward - looking statements involve risks and uncertainties that could cause the outcome to be materially different . In addition , words such as " anticipate " , " believe , " " expect " and " intend " indicate a forward - looking statement , although not all forward - looking statements include these words . For more information about this announcement , please contact Tony DeFazio at 484 - 342 - 3600 or tdefazio@dbcworks.com .