(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 , 2018.The liquidating distribution is being paid from the net proceeds from recent property sales.One, a 61,300-square-foot retail property at 1100 Kings Highway, is in Brooklyn; the rest are all in Manhattan.Those are the new, 29-story, 240-key, four-star Viceroy Hotel; the REIT’s interest in Worldwide Plaza, a 49-story, 1.8-million-square-foot Class A office building at 825 Eighth Ave.Some investors are just “DONE” waiting for K-1s or other tax information and would just prefer to liquidate their asset.Others may find they want to invest their money into other asset classes or find a better price than a mini-tender offer.
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CFX understands that many Sellers are looking for cash due to unforeseen financial reasons.
Liquidation of an Alternative Asset is often the only option.
Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements the Company makes.
Forward-looking statements may include, but are not limited to, statements regarding stockholder liquidity and investment value and returns.
The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.