EX-99.1
2
tv476837_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
FOR IMMEDIATE RELEASE
October 11, 2017
NEW YORK REIT, INC SELLS ITS 245-249
WEST 17
TH
STREET AND 218 WEST 18
TH
STREET PROPERTIES
FOR IMMEDIATE
RELEASE - NEW YORK, NEW YORK, (GLOBE NEWSWIRE) - New York REIT, Inc. (NYSE:NYRT) ("NYRT"), which is
liquidating and winding down pursuant to a plan of liquidation, announced that it has sold its properties located at 245-249
West 17
th
Street and 218 West 18
th
Street in New York, New York for $514.1 million to an unaffiliated
third party. The properties were part of the collateral for NYRT's cross collateralized and secured loan in the
original principal amount of $760 million. In connection with the sale, NYRT paid approximately $348.0 million on
account of the loan as required by the loan documents resulting in a remaining outstanding principal balance on the loan of
approximately $333.9 million. After satisfaction of debt, pro-rations and closing costs NYRT received net proceeds of
approximately $146.2 million.
About NYRT
NYRT is a publicly traded real estate
investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties,
located in New York City. NYRT's shareholders recently adopted a plan of liquidation pursuant to which NYRT is liquidating and
winding down and, in connection therewith, is seeking to sell its assets in an orderly fashion to maximize shareholder value. For
more information, please visit our website at www.nyrt.com.
Contacts
Wendy Silverstein, Chief Executive Officer
New York REIT, Inc.
wsilverstein@nyrt.com
(617) 570-4750
John Garilli, Chief Financial Officer
New York REIT, Inc.
jgarilli@nyrt.com
(617) 570-4750

EX - 99 . 1 2 tv476837 _ ex99 - 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 FOR IMMEDIATE RELEASE October 11 , 2017 NEW YORK REIT , INC SELLS ITS 245 - 249 WEST 17 TH STREET AND 218 WEST 18 TH STREET PROPERTIES FOR IMMEDIATE RELEASE - NEW YORK , NEW YORK , ( GLOBE NEWSWIRE ) - New York REIT , Inc . ( NYSE : NYRT ) ( " NYRT " ) , which is liquidating and winding down pursuant to a plan of liquidation , announced that it has sold its properties located at 245 - 249 West 17 th Street and 218 West 18 th Street in New York , New York for $ 514.1 million to an unaffiliated third party . The properties were part of the collateral for NYRT 's cross collateralized and secured loan in the original principal amount of $ 760 million . In connection with the sale , NYRT paid approximately $ 348.0 million on account of the loan as required by the loan documents resulting in a remaining outstanding principal balance on the loan of approximately $ 333.9 million . After satisfaction of debt , pro - rations and closing costs NYRT received net proceeds of approximately $ 146.2 million . About NYRT NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income - producing commercial real estate , including office and retail properties , located in New York City . NYRT 's shareholders recently adopted a plan of liquidation pursuant to which NYRT is liquidating and winding down and , in connection therewith , is seeking to sell its assets in an orderly fashion to maximize shareholder value . For more information , please visit our website at www.nyrt.com . Contacts Wendy Silverstein , Chief Executive Officer New York REIT , Inc . wsilverstein@nyrt.com ( 617 ) 570 - 4750 John Garilli , Chief Financial Officer New York REIT , Inc . jgarilli@nyrt.com ( 617 ) 570 - 4750
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