New York REIT Liquidating LLC fka NYRT

[Enterprising Investor]

New York REIT Liquidating LLC Announces Declaration of Distribution of $0.10 Per Unit (12/12/23)

NEW YORK, Dec. 12, 2023 (GLOBE NEWSWIRE) -- New York REIT Liquidating LLC (the “Company” or the “LLC”), which was formed to complete the liquidation of the assets previously held by New York REIT, Inc., announced today the Company’s Board of Managers has declared a cash liquidating distribution of $0.10 per unit to be paid on December 21, 2023 to unitholders of record as of December 14, 2023. The distribution is being paid from the release of funds previously held in escrow from the sale of the Viceroy hotel.

Based on currently projected future cash flows, the Company does not anticipate paying regular quarterly distributions for the foreseeable future. Future liquidating distributions will depend on, among other things, the timing and amount of cash flow distributions from our interest in Worldwide Plaza or the release of our reserves. Distributions from Worldwide Plaza have currently been suspended due to pending tenant turnover and lease expirations.

Liquidation Status

Holders of membership interests in the Company are reminded that the conversion of New York REIT, Inc. to the LLC occurred on November 7, 2018. As previously disclosed, membership interests in the LLC are generally not transferable except by will, intestate succession, or operation of law.

The Company has sold all its properties except for the remaining 50.1% interest in Worldwide Plaza. The Company has no debt outstanding other than its pro-rata share of the non-recourse debt on Worldwide Plaza.

https://www.globenewswire.com/news-release/2023/12/12/2795132/0/en/New-York-REIT-Liquidating-LLC-Announces-Declaration-of-Distribution-of-0-10-Per-Unit.html