New York REIT Sells Approximately 49 Percent Interest in Worldwide Plaza to a Joint Venture Managed by SL Green and RXR Realty
NEW YORK REIT (NYRT)
US:NYSE Investor Relations:
nyrt.com
Company Research
Source: GlobeNewswire
Transaction Values Worldwide Plaza at $1.725 Billion SL Green and RXR Realty to Serve as Exclusive Property Manager and Leasing Agent Transaction Expected to Close On or Before November 3, 2017 NYRT to Host Conference Call at 11:00 AM on Thursday, September 14 NEW YORK, Sept. 14, 2017 (GLOBE NEWSWIRE) -- New York REIT, Inc. (NYSE:NYRT) (the “Company” or “NYRT”), which is liquidating and winding down pursuant to a plan of liquidation, announced today that it has entered into a purchase agreement in which it intends to sell a 48.7% interest in Worldwide Plaza to a joint venture managed by SL Green Realty Corp. and RXR Realty LLC (the “Purchaser”) for an agreed-to value of the property of $1.725 billion. Based on this value, along with a debt refinancing of the property that will occur concurrently with the closing, NYRT will receive cash at the closing of approximately $346.2 million which is net of $116.5 million of defeasance cost, as currently estimated and subject to change pr
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