On March 10, 2017, Michael A. Happel resigned as the chief executive officer, president and secretary of American Realty Capital New York City REIT, Inc., effective as of the business day immediately following the filing of the company's annual report on Form 10-K for the period ending December 31, 2016. Effective upon Mr. Happel's resignation, the company's board of directors appointed Edward M. Weil, Jr. to serve as chief executive officer, president and secretary of the company. Mr. Weil has served as the executive chairman of the company's board of directors since November 2015 and will continue in such capacity following this appointment.

Mr. Weil also is the chief executive officer and a non-controlling member of AR Global Investments, LLC. On March 10, 2017, Patrick A. O'Malley resigned as the chief investment officer of the company, effective as of that day.