NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) -- The law offices of Gana Weinstein LLP have filed multiple complaints on behalf of clients claiming losses as a result of investments in the NYC REIT, formerly known as the American Realty Capital New York City REIT. The NYC REIT was marketed as a “high-quality commercial real estate [investment] located within the five boroughs of New York City, particularly Manhattan.” According to the allegations, the invest was far riskier than many brokers had explained and the investment was also illiquid.
“The NYC REIT appears to be headed in a downward spiral and may fail in the coming years. Our law firm is currently pursuing cases against broker-dealers for the unsuitable sale of the NYC REIT and will continue to aggressively pursue these cases for the foreseeable future,” said Adam Gana, a partner with Gana Weinstein LLP. “We believe this REIT is a problem.”
Over the past year the secondary market value of the NYC REIT has seemed to dropped precipitously. Many investors are seeking legal counsel to learn more about their rights.
If you were an investor in the NYC REIT and want a free consultation with an attorney please contact Adam Gana at (646) 404-0000 or by e-mail at AGana@GanaLLP.com. You may also visit the firm’s website at www.ganalawfirm.com.
Gana Weinstein, LLP
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