NEW YORK CITY—New York REIT has received afavorable ruling in a suit initiated against it by RXRRealty. RXR alleged that it suffered “lost profits" inconnection with NYRT's purchase of Worldwide Plaza lastOctober.

NYRT has purchased an 48.9% equity interest in the property for$220 million. The seller, WWP Sponsor—which iscontrolled by a joint venture consisting of GeorgeComfort & Sons, RCG Longview,and DRA Advisors—retained the remaining 51.1%equity interest.

RXR had been in contract to purchase a 48.9% stake in WorldwidePlaza from WWP in 2013 but had not closed theacquisition. NYRT then agreed to purchase such interest inWorldwide Plaza, and RXR immediately sued to enjoin the sale. Atthe time, the asset is 91% leased to a number of large credittenants, including Nomura HoldingAmerica and Cravath,Swaine & Moore.

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.