REIT TO ACQUIRE TWO NYC PROPERTIES FOR $36.5M

NEW YORK CITY — American Realty Capital New York Recovery REIT Inc., through its sponsor, has entered into a purchase and sale agreement to acquire four retail condominiums, totaling approximately 7,080 square feet, located at 122 Greenwich Ave. in New York City's Greenwich Village, and a free-standing Duane Reade pharmacy, located at 163-30 Cross Bay Blvd. in Queens' Howard Beach neighborhood, for a combined $36.5 million. The Greenwich Village properties consist of two units leased to TD Bank, one leased to Starbucks and the other vacant. The properties are 78 percent occupied. The acquisition of these properties is slated to be complete in November. The Duane Reed pharmacy is 100 percent leased to Duane Reed and consists of approximately 9,767 square feet. The acquisition of this property is slated to close in late September.