Wendy Silverstein Resigns from New York REIT

Wendy Silverstein resigns from New York REIT.

New York City—Wendy Silverstein is resigning as CEO, president and board member of New York REIT. John Garilli, who will continue as the CFO, will assume the responsibilities of CEO and president. Winthrop REIT Advisors’ service contract will remain in effect. The announcement comes on the heels of the company’s selling the Viceroy Hotel, located at 120 W. 57th St., between Sixth and Seventh avenues for $41 million. Bloomberg first reported that the Arden Group is buying the Midtown hotel, and has hired HEI Hotels & Resorts to manage the property. The closing is expected to occur by the end of the Q3 2018.

Bloomberg also reported that Silverstein is contemplating plans to join the ubiquitous shared workspace provider WeWork in a senior management position.