| Date of report (Date of earliest event reported) |
December 6, 2004 (November 30, 2004) |
|
WELLSFORD REAL PROPERTIES, INC. | |
|
| |
| (Exact Name of Registrant as Specified in Charter) | |
|
Maryland | |
|
| |
| (State or Other Jurisdiction of Incorporation) | |
|
1-12917 |
13-3926898 |
|
| |
| (Commission File Number) | (IRS Employer Identification No.) |
|
535 Madison Avenue, New York, NY |
10022 |
|
| |
| (Address of Principal Executive Offices) | (Zip Code) |
|
(212) 838-3400 | |
|
| |
| (Registrant’s Telephone Number, Including Area Code) | |
|
| |
|
| |
| (Former Name or Former Address, if Changed Since Last Report) | |
|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): | |
| |_| |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |_| |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |_| |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |_| | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01 Other Events. | |
|---|---|
On November 30, 2004, Wellsford Real Properties, Inc. (the “Company”) closed on its sale of its 51.09% interest in Second Holding Company, LLC (“Second Holding”) for $15 million in cash. The Company sold this interest to an affiliate of The Liberty Hampshire Company, L.L.C., a 10% partner in Second Holding. | |
|
Item 9.01 Financial Statements and Exhibits. | |||
| (c) | Exhibits | ||
| 99.1 | Wellsford Real Properties, Inc. press release issued December 6, 2004, announcing the closing of the sale of its joint venture interest in Second Holding. | ||
2
| 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. |
| WELLSFORD REAL PROPERTIES, INC. |
| By: | /s/ James J. Burns
| |
|
James J. Burns Senior Vice President, Chief Financial Officer | ||
| Date: December 6, 2004 |
3
| Exhibit 99.1 |
|
WELLSFORD REAL PROPERTIES, INC. 535 MADISON AVENUE• 26TH FLOOR • NEW YORK • NY 10022 212-838-3400 FAX 212-421-7244 |
| FOR IMMEDIATE RELEASE: |
|
WELLSFORD REAL PROPERTIES, INC. ANNOUNCES CLOSING ON SALE OF JOINT VENTURE INTEREST |
|
NEW YORK, December 6, 2004—Wellsford Real Properties, Inc. (AMEX: WRP) announced today that it closed the sale of its 51.09% interest in Second Holding Company, LLC (“Second Holding”) for $15 million in cash. WRP sold this interest to an affiliate of The Liberty Hampshire Company, L.L.C., a 10% partner in Second Holding. Commenting on the transaction, Jeffrey H. Lynford, Chairman of WRP, stated, “This continues our efforts to sell illiquid investments. As a result of this transaction, WRP currently has approximately $97 million of cash and U.S. Government securities on its balance sheet.” WRP is a real estate merchant banking firm headquartered in New York City, which acquires, develops, finances and operates real properties and organizes and invests in private and public real estate companies. |
| Press Contact: |
Mark P. Cantaluppi Vice President - Chief Accounting Officer & Director of Investor Relations Wellsford Real Properties, Inc. (212) 838-3400 |
4