search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aGrupo Frali buys Edgewater dev site to complete full block assemblageGrupo Frali buys Edgewater dev site to complete full block assemblage“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment dealRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlords
China Watch Page
New York

RXR takes $290M mortgage on 61 Broadway

Scott Rechler’s firm recently sold a 49% stake there for $216M

From left: Scott Rechler and 61 Broadway in the Financial District
From left: Scott Rechler and 61 Broadway in the Financial District

RXR Realty took a big loan from the Bank of China and SL Green Realty for its remaining stake in 61 Broadway.

The developer, led by Scott Rechler, closed on a $290 million mortgage on the firm’s 51 percent interest in the 33-story, 786,000-square office property.

RXR sold 49 percent of the building to an affiliate of China Orient Asset Management for $216 million, valuing the property at $440 million. 

Sign Up for the undefined Newsletter

The sale closed this week.

The loan was reportedly composed of a $240 million mortgage from Bank of China and $50 million in mezzanine financing from SL Green, the Commercial Observer reported, citing a source familiar with the deal.

The company bought the Financial District office tower for $330 million in May 2014.

Bjarke Ingels Group occupies the property’s penthouse. Law firm Godsky & Gentile and financial services company Samuel A. Ramirez & Co. also have space there. [CO] – Ariel Stulberg