American Realty Capital acquires 333 West 34th Street for $220.3 million; Baxter of Jones Lang LaSalle was lead broker representing SL Green

American Realty Capital New York Recovery REIT, Inc. (NYRR) has acquired from SL Green a 10-story office building located at 333 West 34th St. in Midtown for $220.3 million, exclusive of closing costs. The property contains 347,000 rentable s/f and is 100% leased to four tenants: The Segal Co. (Eastern States), Inc.; The Metropolitan Transportation Authority; Godiva Chocolatier Inc.; and Sam Ash New York Megastores, LLC. Michael Happel, chief investment officer of NYRR, said, "The purchase of 333 West 34th St. exemplifies our commitment to buying well-located, well-tenanted, stabilized assets in New York City with potential for asset appreciation and limited downside risk. This building is situated between the burgeoning Hudson Yards and Herald Sq. sub-markets of Midtown, and features top-quality tenants at below market rents. With the addition of this asset, we have created a portfolio totaling approximately $775 million. We remain focused on acquiring quality N.Y.C. real estate with rents that are accretive to our distributions." Richard Baxter of Jones Lang LaSalle was the lead broker representing the seller. About NYRR NYRR is a publicly registered, non-traded real estate investment trust that has qualified as a REIT for tax purposes. Additional information about NYRR can be found on its website at www.newyorkrecoveryreit.com. Important Notice The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as "anticipate," "believe," "expect" and "intend" indicate a forward-looking statement, although not all forward-looking statements include these words.