NYC REIT (New York City REIT) Has Suspended Distributions | Recover Losses

NYC REIT (New York City REIT) Has Suspended Distributions – Goodman & Nekvasil, P.A., May Recover Investor Losses

NYC REIT(New York City REIT)  is a publicly registered, non-traded REIT based in New York that according to its website, seeks to provide its investors with a combination of current income and capital appreciation through strategic investments in high-quality commercial real estate located within the five boroughs of New York City, particularly Manhattan. SEC filings indicate that NYC REIT (New York City REIT) has suspended distributions.'

The initial public offering price of the ARC NYC REIT was $25 per share.  By 2018, the price per share dropped below $12.  In March 2018, the company announced that it suspended distributions.  According to the Board, the suspension of future distributions was made in order to enhance the non-traded REIT’s ability to execute on acquisitions, as well as conduct repositioning and leasing efforts related to its property portfolio. 

Non-traded REITs are risky and complicated investments. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, continues to investigate brokerage firms that placed elderly retirees and other conservative investors in high-risk investments such as NYC REIT(New York City REIT).

Goodman & Nekvasil, P.A., has filed hundreds of cases against brokerage firms selling high-risk investments and has recovered more than $180 million dollars on behalf of victimized investors.  We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.  All our cases are handled on a purely contingency fee basis.

You may have the right to recover your losses from the brokerage firm that sold NYC REIT(New York City REIT) and other high-risk investments to you. We strongly recommend that you act quickly, however, because statutes of limitation can be short in securities cases.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action.

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf. Finally, the filing of such a case should not affect your ownership of these investments in any way.

If you incurred losses on your investment in NYC REIT(New York City REIT)  and/or other high-risk investments and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.