New York REIT Wins Higher-Than-Expected Prices

New York REIT (NYRT) has come out ahead of its projections in recent sales announced in its continuing liquidation.

The REIT has announced three separate contracts to sell Manhattan office towers located at 306 East 61st Street, One Jackson Square and 350 West 42nd Street to third party buyers for an aggregate amount of $103.1 million. That’s about $6.9 million higher than the estimate of the value of the properties reported by the REIT Sept. 30, 2017.

NYRT also closed its previously announced sale of 1440 Broadway for $520 million. That price was consistent with NYRT’s most recent reports. The transactions are the latest in a string of sales, as NYRT disposes of its entire portfolio.

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