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    New York REIT

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

    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

    Patrick O?Malley
    New York REIT, CIO
    405 Park Avenue, New York, NY, 212.415.6500
    Patrick OMalley oversees investments and investment strategy for one of the largest publicly...
    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...
    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
    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
    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
    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
    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
    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
    • Publication Date 07/01/2015
    • Event Date 05/22/2015
    • Party 1 George Comfort & Sons, RCG Longview, DRA Advisors, New York REIT
    • Party 1 Brokerage George Comfort & Sons
    • Party 1 Broker Peter Duncan, Matt Coudert
    • Party 2 Prometheus Global Media
    • Party 2 Brokerage Newmark Grubb Knight Frank
    For more info, click here
    • Event Retail leasing
    • Address 350 West 50th Street
    • Neighborhood Midtown West
    • Borough Manhattan
    • Square feet 35,000
    • Publication Date 06/01/2015
    • Event Date 04/22/2015
    • Party 1 New York REIT
    • Party 1 Brokerage George Comfort & Sons
    • Party 1 Broker Matt Coudert
    • Party 2 David Barton Gym
    For more info, click here
    • Event Office Leasing
    • Address 350 West 50th Street
    • Neighborhood Midtown West
    • Borough Manhattan
    • Square feet 68,000
    • Publication Date 06/01/2015
    • Event Date 04/22/2015
    • Party 1 New York REIT
    • Party 1 Brokerage George Comfort & Sons
    • Party 1 Broker Matt Coudert
    • Party 2 Rubenstein Associates
    • Party 2 Brokerage Savills Studley
    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
    ...

    The investment sales shakeout
    02/01/2018
    Eastdil, meanwhile, had a calamitous 2017, falling by 88 percent in dollar volume year over year. The firm’s CEO, Roy March, has taken a more hands-on role in the firm’s New York office, which is led by David Lazarus. But aside from brokering Ivanhoe Cambridge’s $652 million purchase of 85 Broad Street and co-brokering New York REIT’s sales of 1440 Broadway and One Worldwide Plaza with CBRE, Eastdil struggled to stand on its own in the absence of its star team...

    When the glass ceiling won’t break
    01/01/2018
    Vornado Realty Trust, for instance, does not have a single woman among its top 16 executives â€' though Wendy Silverstein, now the CEO of New York REIT, was third in command there for years before departing in 2015...

    Private equity’s new game plan
    05/01/2015
    Then, when the tsunami of overseas and institutional money began sweeping over Manhattan, driving up prices, these firms netted massive profits. In one high-profile example, Savanna sold the Twitter headquarters, at 245-249 West 17th 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 late 2012...