New York REIT to issue $3.25 per share liquidation distribution [Seeking Alpha]
NEW YORK REIT (NYRT)
US:NYSE Investor Relations:
nyrt.com
Company Research
Source: Seeking Alpha
New York REIT's (NYSE: NYRT ) board declares a cash liquidation distribution of $3.25 per share to be paid on Oct. 22, 2018 to shareholders of record as of Oct. 15, 2018. Separately the company completed the previously announced sale of the Viceroy Hotel on West 57th Street in Manhattan for $41.0M. NYRT received net proceeds of $39.8M. The selling price is consistent with the company's last reported net assets in liquidation as of June 30, 2018. Also, New York REIT says the company expects its conversion from a Maryland corporation to a Delaware limited liability company to be known as New York REIT Liquidating LLC will be effective Nov. 7, 2018, 5PM. Company intends to withdraw shares of common stock from trading on the NYSE and expects last day of trading will be Nov. 2, 2018. Previously: New York REIT to sell Viceroy Hotel as it winds down; CEO steps down (July 13) Click to subscribe to real-time analytics on NYRT Now read: Interview With Phil Goldstein A
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