New York REIT Liquidating LLC fka NYRT

[Enterprising Investor]

New York REIT Completes Option Acquisition in Worldwide Plaza Bringing Total Ownership to 98.8 Percent (6/01/17)

NEW YORK, June 1, 2017 /PRNewswire/ -- New York REIT, Inc. ("NYRT" or the "Company") (NYSE: NYRT), today announced that the Company, through a wholly owned subsidiary, acquired for approximately $276.7 million an additional 49.9% indirect equity interest in Worldwide Plaza, pursuant to the Company's previously announced exercise of its option to purchase additional equity interests under the joint venture agreement governing Worldwide Plaza.
   
As a result of the acquisition, the Company owns a total indirect equity interest of 98.8% in Worldwide Plaza. The remaining 1.2% indirect equity interest in Worldwide Plaza was retained by the Company's joint venture partner pursuant to its rights under the joint venture agreement.

Wendy Silverstein, CEO stated, "We are pleased to have completed this acquisition in a timely manner. NYRT is now well positioned to begin the next phase of its liquidation process. We look forward to completing that process as quickly and efficiently as possible with a focus on maximizing shareholder value."

Worldwide Plaza is a mixed use building located on Eighth Avenue, between 49th and 50th Streets in Manhattan containing approximately 2.05 million rentable square feet including approximately 1.8 million rentable square feet of office space.

Additional information regarding the acquisition can be found in a Form 8-K filed by the Company on June 1, 2017 and available at www.nyrt.com.

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.

http://www.prnewswire.com/news-releases/new-york-reit-completes-option-acquisition-in-worldwide-plaza-bringing-total-ownership-to-988-percent-300467551.html