New York REIT began as New York Recovery REIT, the public, non-traded investment offering dedicated to identifying and unlocking upside value in a commercial real estate market still recuperating from the economic strains of The Great Recession. Today, New York REIT is 100% invested in New York City.
On August 22, 2016, our board of directors approved a liquidation plan, subject to stockholder approval. On January 3, 2017, we held a special meeting of stockholders, at which our stockholders approved the liquidation plan. We expect to sell or transfer all of our assets, pay or provide for our liabilities and expenses, distribute the remaining proceeds of the liquidation of our assets to our stockholders, wind up our operations and dissolve. The actual amounts and times of liquidating distributions to our stockholders pursuant to the liquidation plan will be determined by our board of directors at its discretion.