Notes: Dec 30, 2022 -- New York City REIT, Inc. (NYSE: NYC) (“NYC” or the “Company”) announced today that it intends to expand the scope of the assets and businesses the Company may own and operate. By investing in other asset types, the Company may generate income that does not otherwise constitute income that qualifies for purposes of qualifying as a Real Estate Investment Trust or (“REIT”). As a result, the Company expects to change its REIT election and become a taxable C corporation. The election if and when made, would be effective as of January 1, 2023. Additionally, NYC announced that its board approved a 1-for-8 reverse stock split pursuant to which each outstanding share of common stock will be converted into 0.125 shares of common stock (no fractional shares will be issued). The reverse stock split is expected to be effective at 5:00p.m. eastern time on January 11, 2023. Further, subject to executing necessary documents and board approval, the Company intends to launch a rights offering to raise additional capital from existing stockholders.