American Realty Capital New York Recovery REIT Enters into Contract to Acquire Institutional-Quality Office Building in

American Realty Capital New York Recovery REIT Enters into Contract to Acquire               Institutional-Quality Office Building in Manhattan  PR Newswire  NEW YORK, Oct. 23, 2012  NEW YORK, Oct. 23, 2012 /PRNewswire/ --American Realty Capital New York Recovery REIT, Inc., (the "Company") announced that, on October 19, 2012, itentered into a purchase and sale agreement to acquire the fee simple interest in an institutional-quality office building located at 256 West 38th Street in Manhattan, at a purchase price of $48.6 million, exclusive of closing costs.  (Logo: http://photos.prnewswire.com/prnh/20120807/NY53656LOGO)  The property contains 118,000 rentable square feet and is 87% leased to 15 tenants. Approximately 35% of the property is occupied by two tenants: Cache, Inc. and United Auto Workers.  "We are pleased to acquire this well-located building in Manhattan," noted Michael A. Happel, Chief Investment Officer of the Company. "This acquisition is consistent with our overall strategy of acquiring high quality, income-producing real estate in New York City."  About the Company  American Realty Capital New York Recovery REIT, Inc. is a publicly registered, non-traded real estate investment program.  SOURCE American Realty Capital New York Recovery REIT, Inc.  Website: http://www.americanrealtycap.com/offerings/nyrr.html Contact: Tony DeFazio, +1-484-532-7783, tony@defaziocommunications.com