New York REIT, Inc. to Issue a $3.25 Per Share Cash Liquidating Distribution
NEW YORK REIT (NYRT)
US:NYSE Investor Relations:
nyrt.com
Company Research
Source: PR Newswire
NEW YORK, Oct. 5, 2018 /PRNewswire/ -- New York REIT, Inc. (NYSE: NYRT) (the "Company" or "NYRT"), which is liquidating and winding down pursuant to a plan of liquidation, announced today the Company's Board of Directors has declared a cash liquidating distribution of $3.25 per share of the Company's common stock to be paid on October 22, 2018 to shareholders of record as of October 15, 2018. Separately, the Company has announced that it has closed on the previously announced sale of the Viceroy Hotel located on West 57th Street in New York, New York for $41.0 million to an unaffiliated third party. The property was unencumbered at the time of sale. After satisfaction of pro-rations and closing costs, the Company received net proceeds of approximately $39.8 million. The selling price is consistent with the Company's last reported net assets in liquidation as of June 30, 2018.The liquidating distribution is being paid from the net proceeds from the sale of the Viceroy Hotel and exi
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