ARC TO ACQUIRE INTEREST IN HOTEL, OFFICE BUILDING FOR $188.5M

NEW YORK CITY — American Realty Capital New York Recovery REIT Inc. (ARC) has agreed to acquire a leasehold interest in the Viceroy Hotel and take preferred equity interest in an office building in Manhattan. The aggregate cost for the two assets is $188.5 million. The 29-story, 240-key Viceroy Hotel is located on West 57th Street, between 6th and 7th avenues. Architectural firm Roman and Williams designed the newly constructed hotel, which will be managed by Viceroy Hotel Group. The 513,000-square-foot, 27-story office building is located at 123 William St. in the Financial District of Manhattan. These acquisitions bring ARC ‘s portfolio to $1 billion in assets.