Read Press Release - American Realty Capital New York City REIT

American Realty Capital New York City REIT to Acquire
123 William Street
New York, New York, February 2, 2015 – American Realty Capital New York City REIT, Inc.
(“NYCR”), a public non-traded real estate investment trust (“REIT”), announced today that it
has entered into an agreement to acquire 123 William Street, an institutional-quality office
property located in Downtown Manhattan for $253 million, exclusive of closing costs.
123 William Street contains approximately 545,000 rentable square feet and is currently 81%
leased. The property’s largest tenants include the State of New York, the City of New York, the
United States of America, the Securities Training Corporation and McAloon & Friedman, P.C.
“We are very excited to be adding 123 William Street to our portfolio,” said Michael A. Happel,
Chief Executive Officer of NYCR. “The property is located in Downtown Manhattan, an
important New York City submarket benefiting considerably from recent infrastructure
improvements, especially with regard to transportation. The lobby and many important elements
of the building have been substantially renovated, and we are acquiring the investment below its
replacement cost. We see an opportunity to create near-term value at 123 William Street through
leasing up the remainder of the building and marking below-market rents to current market levels
as leases roll.”
About NYCR
NYCR intends to elect and qualify as a REIT for U.S. federal income tax purposes beginning
with the taxable year ended December 31, 2014. Additional information about NYCR can be
found on its website at
Important Notice
The statements in this press release that are not historical facts may be forward-looking
statements. These forward-looking statements involve risks and uncertainties that could cause the
outcome to be materially different, including those set forth in the Risk Factors section of
NYCR’s Prospectus. In addition, words such as “anticipate,” “believe,” “expect” and “intend”
indicate a forward-looking statement, although not all forward-looking statements include these
words. Further, forward-looking statements speak only as of the date they are made, and NYCR
undertakes no obligation to update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to future operating results over
time, unless required by law.
Michael A. Happel
Chief Executive Officer,
President and Secretary
American Realty Capital New
York City REIT, Inc.
[email protected]
(212) 415-6500
Gregory W. Sullivan
Chief Operating Officer, Chief
Financial Officer and Treasurer
American Realty Capital New
York City REIT, Inc.
[email protected]
(212) 415-6500
Anthony J. DeFazio
SVP of Public Relations
[email protected]
(484) 342-3600
Andrew G. Backman
Managing Director
Investor Relations and Public
[email protected]
(917) 475-2135