New York REIT Announces Transition Of External Manager To Winthrop REIT Advisors

NEW YORK, March 3, 2017

Randolph C. Read, Chairman of the Board, commented, "We are pleased to be completing the external advisor transition and would like to thank ARG and Winthrop for their efforts in making this process as seamless as possible. I would also like to welcome Wendy to her new role on the NYRT management team. My fellow directors and I look forward to continuing to benefit from her extensive real estate background and financial, capital markets and transaction expertise. She is an ideal leader for NYRT to oversee and expeditiously complete our previously announced plan of liquidation."

Mr. Read continued, "I would like to thank Mike Happel for his hard work, professionalism and dedication to NYRT.  As an entrepreneurial co-founder of the Company, Mike has played an instrumental role in creating the Company and building its strong portfolio of New York real estate assets since the Company's inception in 2009. We wish him well in the future."

"With the completion of the external manager transition, we are now able to focus all of our energy on executing the plan of liquidation," said Ms. Silverstein. "We have made good progress over the past few months, and are well positioned to complete the work at hand with the goal of maximizing value for all NYRT stockholders."

About NYRT
NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties, located in New York City. Additional information about NYRT can be found on its website at www.nyrt.com. NYRT may disseminate important information regarding it and its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.

Forward-Looking Statements
The statements in this press release that are not historical facts may be forward-looking statements. These forward looking statements involve substantial risks and uncertainties. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements NYRT makes. Forward-looking statements may include, but are not limited to, statements regarding stockholder liquidity and investment value and returns. The words "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "may," "will," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that might cause such differences include, but are not limited to: the impact of current and future regulation; the impact of credit rating changes; the effects of competition; the ability to attract, develop and retain executives and other qualified employees; changes in general economic or market conditions; the Company's ability to complete asset sales and realize the results of its plan of liquidation; the timing of and the amount of proceeds of asset sales; and other factors, many of which are beyond NYRT's control, including other factors included in NYRT's reports filed with the Securities and Exchange Commission (the "SEC"), particularly in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of NYRT's latest Annual Report on Form 10-K for year ended December 31, 2016, filed with the SEC on March 1, 2017, as such Risk Factors may be updated from time to time in subsequent reports. NYRT does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.