New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
New York City REIT to List on Stock Exchange
New York City REIT, Inc. (NYC) will list its shares of Class A common stock on the New York Stock Exchange effective Tuesday, August 18. The shares being listed Tuesday represent 25% of the non-listed REIT’s common stock.
“We look forward to our listing on the NYSE and the enhanced access to capital markets that comes with being a traded company, especially in the current environment where we may be able to capitalize on short-term dislocation in the real estate market,” said Michael Weil, CEO of NYC.
Weil added, “We are highly confident in the long-term outlook for real estate in Manhattan, a view that is supported by ongoing commitments to long-term leases by major occupiers across the city, including technology and financial services firms.”
He cited recent large-scale leases by AIG, Raymond James and Facebook as demonstrating “the long-term optimism that corporate tenants have for office space throughout Manhattan.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition
