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New York REIT

405 Park Avenue
New York, NY 10022
(212) 415-6500
Website
NY-REIT

New York REIT is a publicly traded landlord with a vast portfolio of mostly commercial holdings entirely in New York City.

This mostly-Manhattan portfolio includes the nearly 2 million-square-foot World Wide Plaza; the 755,679-square-foot 1440 Broadway; the 240-room Viceroy Hotel in Midtown; the 158,573-square-foot 50 Varick Street; and the 346,728-square-foot 333 West 34th Street.

New York REIT dates from 2010, when it spun off from corporate parent American Realty Capital, another real estate investment trust that became enmeshed in a major accounting scandal in 2014. That scandal cast a shadow on New York REIT due to business dealings and holdings that often overlapped, even years after the spinoff. The firm continues to distance itself from American Realtys reputation.

Michael Happel is New York REITs CEO and president. The firm is headquartered in 405 Park Avenue. -TA


When the glass ceiling won’t break
02/18/19
...executives — though Wendy Silverstein, now the CEO of New York REIT, was third in command there for years before departing in 2015. Meanwhile, SL Green Realty...

RFR hires new acquisitions head
02/01/19
...of retail condos in the West Village from New York REIT for $31 million, and paid $115 million to buy a 3-acre development site in Gowanus from...

WeWork inks 236K sf lease at 1440 Broadway
12/20/18
...Village. CIM picked up 1440 Broadway in December 2017 from New York REIT for $520 million. It's is undertaking a capital improvement plan for the 749,000-square-foot property, which...

Is WeWork getting too big for its boots as
a landlord?
12/19/18
...fund called ARK, to be lead by former New York REIT head Wendy Silverstein. With the fund it planned to purchase its first ground-up development...

Non-disclosure agreements, disclosed
12/06/18
...The Real Deal Last May, the chairman of New York REIT, a company that became notorious for having its dirty laundry aired in public, stressed...

SL Green is buying back $2 billion of its shares — is it rolling the dice?
11/12/18
...their stake in the 1.8 million-square-foot office tower from New York REIT as part of its liquidation sale. At one point, SL Green was rumored to...

How NY REIT became an LLC with just a single asset
11/07/18
...at 350 West 50th Street (Credit: iStock and Wikipedia) New York REIT, once a company with 4.4 million square feet of commercial space in the city, is...

Twitter re-ups 215K sf lease in Chelsea
11/07/18
...owned by Savannah Partners.  After being sold to New York REIT for $335 million that same year, the property was sold again last year to Columbia...

WeWork launches new investment fund, plans first ground-up development
11/05/18
...private equity firm Rhone Group. WeWork hired former New York REIT CEO Wendy Silverstein as ARK’s chief investment officer. ARK is close to a...

Sizing up SL Green’s big bet
...their stake in the 1.8 million-square-foot office tower from New York REIT as part of its liquidation sale. At one point, SL Green was rumored to...

New York City REIT taps Avison Young to lead marketing at 1140 Sixth Avenue
10/03/18
...of this story incorrectly stated the leaseholder was New York REIT, not New York City REIT...

Why hotel sales have seen a boost this year
10/02/18
...profit. As a part of its ongoing liquidation, New York REIT earlier this year found a buyer for the Viceroy Hotel — but made a deal...

The private equity paradox: Funds flush with cash can’t find deals with returns they need
09/26/18
...on Billionaires’ Row for $41 million from the now-liquidated New York REIT — a steal compared to the $149 million the seller purchased it for in 2013. And last...

The private equity paradox
...on Billionaires’ Row for $41 million from the now-liquidated New York REIT — a steal compared to the $149 million the seller purchased it for in 2013. And last...

The 10 biggest Brooklyn deals in Q2 2018
07/27/18
...Highway, $30.5 million Buyer: AB Capstone, Richard Harris Seller: New York REIT AB Capstone and Richard Harris teamed up to purchase 1100 Kings Highway and 2067 Coney Island...

Real estate’s diversity problem
07/27/18
...of heart.” Wendy Silverstein, the incoming CEO of New York REIT and a former top executive at Vornado Realty Trust, echoed that point. As a...

Behind Brookfield’s development tear
07/20/18
...Brookfield paid $31.5 million to buy the properties from New York REIT, which spent nearly $45 million acquiring them between 2010 and 2012. Brookfield plans to run the properties...

The Viceroy Hotel is selling at a massive loss
07/13/18
...Arden Group, Viceroy Hotel and Resorts, and Booking) New York REIT finally found a buyer for the Viceroy Hotel – at a sliver of the price...

Wendy Silverstein is planning to join WeWork: report
07/13/18
...according to a new report. The CEO of New York REIT will leave her current company and step down from its board, Bloomberg reported. She...

Est4te Four lands $79M loan for Red Hook condo building
06/06/18
...condo at 50 Varick Street, which it acquired from New York REIT for $135 million last August. Est4te Four previously announced plans to build a $400 million...

Brookfield nears deal to buy the Hotel Indigo for $160M
05/29/18
...properties on Bleecker Street in Greenwich Village from New York REIT, which had spent nearly $45 million acquiring the properties between 2010 and 2012. The Canadian-based investor and...

AB Capstone scoops up NY REIT retail for $31M
05/18/18
...Babaev is the majority buyer of two of New York REIT...

Brookfield to incubate new retail ideas with Bleecker Street portfolio
04/23/18
...of properties on Bleecker Street it bought from New York REIT for $31.5 million. The global investor plans to create an incubator for emerging online brands...

EY takes two floors at Columbia Property’s 218 West 18th
04/13/18
...West 17th Street on the same block, from New York REIT in a $515 million deal. The fully-leased tower contains the New York City headquarters of...

Michael Paul Enterprises sells former Brooke Shields home for $18.2M
03/09/18
...neighborhood, JMC Holdings recently landed $51 million to buy New York REIT’s office building at 306 East 61st Street, and former hedge fund manager Philip Falcone...
Zachary-Pomerantz
Zachary Pomerantz
New York REIT, VP, Asset Management
405 Park Avenue, New York, NY
Zachary Pomerantz manages the assets of New York REIT, one of the largest...
Patrick-O’Malley
Patrick O’Malley
New York REIT, CIO
405 Park Avenue, New York, NY, 212.415.6500
Patrick O’Malley oversees investments and investment strategy for one of the largest publicly...
Michael-Happel
Michael Happel
New York REIT, CEO and President
405 Park Avenue, New York, NY, 212.415.6500
Michael Happel leads one of the largest publicly traded real estate investment and...
For more info, click here
  • Event Sales
  • Address 120 West 57th Street
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 128,433
  • Price $ 41,000,000
  • Publication Date 10/29/2018
  • Event Date 10/22/2018
  • Party 1 New York REIT
  • Party 2 Arden Group
notes
The buyer acquired the Midtown property for $41 million.
For more info, click here
  • Event Sales
  • Address 120 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 128,433
  • Price $ 41,000,000
  • Publication Date 07/16/2018
  • Event Date 07/13/2018
  • Party 1 New York REIT
  • Party 1 Brokerage Eastdil Secured
  • Party 2 Arden Group
notes
The buyer entered into a contract to purchase the Midtown hotel for $41 million.
For more info, click here
  • Event Sales
  • Address 2067 Coney Island Avenue
  • Neighborhood Gravesend
  • Borough Brooklyn
  • Square feet 43,318
  • Price $ 30,500,000
  • Publication Date 06/04/2018
  • Event Date 05/18/2018
  • Party 1 New York REIT
  • Party 2 Meir Babaev
notes
The buyer secured the 2 buildings in Gravesend for $30.5 million.
For more info, click here
  • Event Sales
  • Address 387 Bleecker Street
  • Neighborhood West Village
  • Borough Manhattan
  • Price $ 31,500,000
  • Publication Date 05/15/2018
  • Event Date 04/18/2018
  • Party 1 New York REIT
  • Party 2 Brookfield Property Partners
notes
The buyer acquired 7 storefronts across 4 properties in the West Village for $31.5 million.
For more info, click here
  • Event Sales
  • Address 350 West 42nd Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 43,000
  • Price $ 25,100,000
  • Publication Date 02/06/2018
  • Event Date 01/11/2018
  • Party 1 New York REIT
  • Party 2 HUBB NYC
notes
The REIT sold the first standalone retail property in the liquidation of its multibillion-dollar portfolio for $25.1 million.
For more info, click here
  • Event Sales
  • Address 1440 Broadway
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 747,576
  • Price $ 520,000,000
  • Publication Date 01/09/2018
  • Event Date 12/21/2017
  • Party 1 New York REIT
  • Party 1 Brokerage CBRE, Eastdil Secured
  • Party 2 CIM Group
notes
The buyer acquired the Midtown building for $520 million.
For more info, click here
  • Event Sales
  • Address 256 West 38th Street
  • Neighborhood Midtown South
  • Borough Manhattan
  • Square feet 270,000
  • Price $ 155,000,000
  • Price per foot $ 580.00
  • Publication Date 11/13/2017
  • Event Date 11/07/2017
  • Party 1 New York REIT
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Kevin Donner, Adam Donegar, Adam Spies, Douglas Harmon
  • Party 2 Investcorp, Brickman
notes
The buyers acquired the property for $155 million.
For more info, click here
  • Event Sales
  • Address 245-249 West 17th Street, 218 West 18th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 446,000
  • Price $ 514,000,000
notes
The real estate investment trust acquired three fully leased office buildings for $514 million.
For more info, click here
  • Event Sales
  • Address 350 West 50th Street
  • Neighborhood Hell's Kitchen
  • Borough Manhattan
  • Square feet 626,821
  • Price $ 828,000,000
  • Amount Price 1
  • Publication Date 11/01/2017
  • Event Date 09/19/2017
  • Party 1 New York REIT
  • Party 2 RXR Realty; SL Green Realty
notes
The two firms partnered to take a 48.7% stake in One Worldwide Plaza for $828 million.
For more info, click here
  • Event Financing
  • Address 50 Varick Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 150,000
  • Price $ 77,800,000
  • Publication Date 10/01/2017
  • Event Date 08/29/2017
  • Party 1 Est4te Four
  • Party 2 New York REIT
notes
The Italian real estate firm acquired a $77.8 million loan.
For more info, click here
  • Event Financing
  • Address 123 William Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 493,039
  • Price $ 140,000,000
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 American Realty Capital New York Reit
  • Party 2 Barclays Bank
notes
The commercial and office property secured a $140 million loan.
For more info, click here
  • Event Office Leasing
  • Address 245 West 17th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 24,000
notes
The professional baseball organization signed a lease for the eighth and ninth floors.
For more info, click here
  • Event Sales
  • Address 1623 Kings Highway
  • Neighborhood Midwood
  • Borough Brooklyn
  • Square feet 20,000
  • Price $ 17,000,000
  • Price per foot $ 850.00
  • Publication Date 05/01/2016
  • Event Date 03/17/2016
  • Party 1 New York REIT
  • Party 1 Brokerage Forte Capital Management
  • Party 1 Broker Chaim Cahane
  • Party 2 Lido Realty
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Robert Knakal, Alex Svetlakou, Jonathan Hageman
notes
The mixed-use property sold for $17 million.
For more info, click here
  • Event Sales
  • Address 163 Washington Avenue
  • Neighborhood Clinton Hill
  • Borough Brooklyn
  • Price $ 37,658,000
  • Publication Date 12/01/2015
  • Event Date 10/22/2015
  • Party 1 New York REIT
  • Party 1 Brokerage HFF
  • Party 1 Broker Rob Rizzi, Jeff Julien, Rob Hinckley
notes
The 16-story, 49-unit building was sold.
For more info, click here
  • Event Office Leasing
  • Address 1440 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 34,000
For more info, click here
  • Event Office Leasing
  • Address 1 Worldwide Plaza
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 33,000
For more info, click here
  • Event Retail leasing
  • Address 350 West 50th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 35,000
For more info, click here
  • Event Office Leasing
  • Address 350 West 50th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 68,000
For more info, click here
  • Event Office Leasing
  • Address 1 Worldwide Plaza
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Square feet 32,600
notes
The media company signed a lease to occupy the 30th floor. The reported asking rent was $70 per square foot.
163-20 Cross Bay Boulevard
Queens, 11414
WHARTON REALTY
...
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...Street, last summer to American Realty Capital’s New York REIT for $335 million, more than four times the $75.8 million it paid for the property in...
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