New York City REIT, Inc. (NYC)

[Enterprising Investor]

NYC Advisor and Its Affiliates Express Confidence in NYC REIT With $2.5 Million Share Purchase, Stock Election (9/06/22)

NEW YORK--(BUSINESS WIRE)--New York City REIT, Inc. (NYSE: NYC) (“NYC” or the “Company”) announced this morning that the Company’s advisor and its affiliates have acquired 784,105 shares of NYC Class A common stock in the aggregate. Specifically, affiliates of NYC’s advisor purchased an aggregate of 632,911 NYC Class A shares on September 2, 2022. In addition, NYC’s advisor made an election to receive stock in lieu of cash for its advisor services. As of September 2, 2022, NYC’s advisor and its affiliates own over 2.6 million NYC Class A shares, providing increased alignment and demonstrating their depth of commitment to NYC’s long-term value.

“The board is very pleased to see the continued commitment from NYC’s advisor and its affiliates to align their interests with stockholders and invest over $2 million of cash to enhance the Company’s balance sheet for future operating and capital needs,” said Betty Tuppeny, Lead Independent Director. “The purchase of these shares during a turbulent market is a vote of confidence in both NYC’s business plan and the continuation of the strong operational results NYC achieved in the second quarter.”

About New York City REIT, Inc.

New York City REIT, Inc. is a publicly traded REIT that owns a portfolio of high-quality commercial real estate located within the five boroughs of New York City. Additional information about NYC can be found on its website at www.newyorkcityreit.com.

https://www.businesswire.com/news/home/20220906005284/en/NYC-Advisor-and-Its-Affiliates-Express-Confidence-in-NYC-REIT-With-2.5-Million-Share-Purchase-Stock-Election