SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) September 24, 1999
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Metropolis Realty Trust, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Maryland 0-218491 13-3910684
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(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification
Incorporation) No.)
c/o Victor Capital Group, L.P., 605 Third Avenue, 26th Floor,
New York, New York 10016
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(Address of Principal Executive Offices) (Zip Code)
(Registrant's Telephone Number, Including Area Code) (212) 655-0220
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(Former Name or Former Address, If Changed Since Last Report.)
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ITEM 5. Other Events.
Metropolis Realty Trust, Inc. ("Registrant"), is filing this
Current Report on Form 8-K in connection with the filing of a press release on
September 24, 1999.
ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits.
Exhibit Description
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99.1 Press Release, dated September 24, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
METROPOLIS REALTY TRUST, INC.
(Registrant)
Date: September 30, 1999
By: /s/ Lee S. Neibart
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Name: Lee S. Neibart
Title: President and Director
Date: September 30, 1999
By: /s/ Stuart Koenig
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Name: Stuart Koenig
Title: Vice President and Treasurer
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EXHIBIT INDEX
Exhibit Description
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99.1 Press Release, dated September 24, 1999.
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Exhibit 99.1
5
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FOR IMMEDIATE RELEASE
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Contact: Mr. John Klopp
605 Third Avenue
28th Floor
New York, NY 10158
(212) 655-0220
METROPOLIS REALTY TRUST, INC. ANNOUNCES AGREEMENT TO SELL
237 PARK AVENUE PROPERTY
THIRD QUARTER DIVIDEND ANNOUNCED
New York, New York (September 24, 1999) -- METROPOLIS REALTY TRUST, INC. today
announced that it has entered into an agreement to sell all of its interests in
237 Park Avenue to a private investor. The closing of the sale is subject to due
diligence and other customary closing conditions. The Board of Directors has
approved the sale, and stockholders representing more than the requisite 66 2/3%
of the Company's outstanding common stock have agreed to vote in favor of the
sale. The sale is expected to close during the fourth quarter, although there
can be no assurance that the sale will be consummated.
237 Park Avenue is a 21-story class A office building with approximately
1,200,000 rentable square feet of space. The building, centrally located in
midtown Manhattan, is situated off one of New York City's most prestigious
thoroughfares and is within close proximity to Grand Central Station, a
transportation hub. The property serves as the corporate headquarters for J.
Walter Thompson Company, a major advertising company, and Credit Suisse Asset
Management, a financial services organization. The property is currently 98%
leased.
Upon consummation of the sale, METROPOLIS will continue to own substantially all
of its interests in another New York City office building, 1290 Avenue of the
Americas.
METROPOLIS also announced its regular quarterly dividend of $0.50 per share,
payable on October 15, 1999 to stockholders of record on September 30,1999.
METROPOLIS is a Maryland corporation that qualifies as a real estate investment
trust for tax purposes.
Note: Statements in this press release which are not strictly historical are
"forward-looking" statements that are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks, which may cause the
company's actual results in the future to differ materially from expected
results.
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