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New York REIT Closes on Three Properties Totaling $81.8 Million

In addition, the REIT entered into three contracts to sell properties for another $73.2 million, expected to close in Q2 2018.

One Jackson Square New York REIT sold One Jackson Square for $31 million.

NEW YORK CITY—New York REIT has closed on the sale of two properties in Manhattan and one in Brooklyn, totaling $81.8 million. In January 2017, the shareholders voted to approve the REIT’s liquidating and winding down, which is proceeding as planned.

New York REIT sold its 306 East 61st St. property, a seven-story, 81,000 square-foot building constructed in 1901 to JMC Holdings for $47 million. Building tenants include Bunny Williams, Newel and Eric Appel, according to Real Capital Analytics.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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