The Real Deal New York

Posts Tagged ‘rxr realty’

  • 470 Vanderbilt Avenue

    470 Vanderbilt Avenue

    From the April issue: The second-priciest office building transaction in Brooklyn’s history closed last month. [more]

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  • From left: Far Rockaway boardwalk and Greg Clancy

    From left: Far Rockaway boardwalk and Greg Clancy

    A city official at the head of the Rockaways boardwalk rebuilding project is stepping down and moving into the private sector.

    Greg Clancy, a senior vice president of capital programs with the Economic Development Corporation, began working on the boardwalk project last year and will depart April 16 to join RXR Realty as vice president of development, he told DNAinfo. His departure follows that of former EDC president Seth Pinsky, who RXR hired last year. [more]

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  • 61-broadway

    Scott Rechler and 61 Broadway

    Scott Rechler’s RXR Realty is in contract to acquire a 786,000-square-foot office building at 61 Broadway in the Financial District for $330 million.

    The majority of the leases in the office tower are expiring soon, making way for the prospective new landlord to renovate the site. RXR is looking to attract creative and tech firms and is touting the rents in FiDi. [more]

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  • 470 Vanderbilt Avenue

    470 Vanderbilt Avenue

    WEEKENDEDITION  UPDATED, 7:00 p.m., March 2: RXR Realty, in a joint venture with American Landmark Properties, has purchased the long-term lease of a large office building at 470 Vanderbilt Avenue, near Barclays Center in Brooklyn, for just under $200 million. [more]

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  • rxr-realty

    Scott Rechler and George Washington Bridge in Fort Lee

    Scott Rechler, CEO of RXR Realty and vice chair of the Port Authority of New York and New Jersey, said he expects the bi-state agency will make reforms in the wake of the “Bridgegate” scandal involving New Jersey Governor Chris Christie and his allegedly politically motivated snarling of traffic on the George Washington Bridge. See the video after the jump. 

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  • From left: RXR's Scott Rechler, 620 Sixth Avenue and Spotify CEO Daniel Ek

    From left: RXR’s Scott Rechler, 620 Sixth Avenue and Spotify CEO Daniel Ek

    Digital music streaming company Spotify has expanded to 123,000 square feet at RXR Realty’s 620 Sixth Avenue. Spotify will add roughly 50,000 square feet to its current 73,000-square-foot space at the Midtown South building. [more]

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  • From left: Scott Rechler and David Hamamoto

    From left: Scott Rechler and David Hamamoto

    Scott Rechler’s RXR Realty has scored a $340 million investment from NorthStar Realty Finance Corporation, giving the firm a cash infusion that will help carry out the planned spin-off of its asset management business into a publicly traded real estate investment trust. [more]

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  • From left: Scott Rechler and 237 Park Avenue

    From left: Scott Rechler and 237 Park Avenue

    RXR Realty and Walton Street Capital have secured up to $165 million in mezzanine financing for 237 Park Avenue.

    The loan was provided by SL Green Realty and the Blackstone Group with an interest rate of 7 percent, according to Jones Lang LaSalle, which helped arrange the deal. [more]

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  • From left: RXR's Scott Rechler,

    From left: RXR’s Scott Rechler, Worldwide Plaza and American Realty Capital’s Nicholas Schorsch

    RXR Realty has lost out on a bid to pick up Worldwide Plaza, with American Realty Capital snagging a 48.9 percent stake and right to buy for a total of roughly $1.45 billion. [more]

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  • RXR’s Scott Rechler and One Worldwide Plaza

    RXR’s Scott Rechler and One Worldwide Plaza

    The owners of One Worldwide Plaza got the green light from a New York State judge to sell the building to American Realty Capital for $1.35 billion, despite RXR Realty’s move to block the sale of the 1.8 million-square-foot, 59-story Midtown office tower.

    RXR had planned to pay $605 million for a 40 percent stake in the building, partly owned by investment firm George Comfort & Sons. RXR was working with American Realty as a joint investor, until American Realty talked directly to George Comfort about going solo on the purchase, as previously reported. [more]

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  • Seth Pinsky

    Seth Pinsky

    With property prices nearing record highs in Manhattan, RXR Realty’s Seth Pinsky is pushing into the suburbs.

    The former head of the city’s Economic Development Corporation joined RXR three months ago and is now the front man on the company’s so-called metropolitan emerging market strategy. In this role, Pinsky will lead the firm’s push into Hempstead, Long Island, where it is eyeing investments in mixed-use projects. [more]

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  • RXR’s Scott Rechler and One Worldwide Plaza

    RXR’s Scott Rechler and One Worldwide Plaza

    RXR Realty saw a silver lining today when the court ordered a delay in the $1.35 billion sale of One Worldwide Plaza to its rival American Realty Capital.

    RXR had planned to pay $605 million for a 40 percent stake in the 1.8 million-square-foot, 59-story Midtown building, partly owned by investment firm George Comfort & Sons. RXR was working with American Realty as a joint investor, until American Realty talked directly to George Comfort about going solo on the purchase, as previously reported. George Comfort made a deal with American Realty instead, prompting RXR to file a lawsuit earlier this month. [more]

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  • RXR’s Scott Rechler and One Worldwide Plaza

    Scott Rechler and One Worldwide Plaza

    RXR Realty, which reached a deal to pay $605 million for a 40 percent stake in One Worldwide Plaza in June, has initiated a lawsuit over an acquisition gone awry.

    RXR’s deal set up a partnership interest, led by real estate investment firm George Comfort & Sons, in the 1.8 million-square-foot building, and it was widely assumed that RXR would pick up the remaining interest in the months to come. [more]

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  • rechler-pic-final

    Scott Rechler and 1 Chase Manhattan Plaza

    Scott Rechler’s RXR Realty is considering purchasing 1 Chase Manhattan Plaza, the 60-story office tower in the Financial District owned by JPMorgan Chase.

    RXR would maintain the 2.2 million-square-foot building, which hit the market in August, as a commercial office tower, despite speculation that it’s a candidate for a residential or hotel conversion, Rechler told The Real Deal. [more]

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  • Seth-Pinsky

    Seth Pinsky

    Seth Pinsky, the head of the New York City Economic Development Corporation, is heading to Scott Rechler’s RXR Realty, Crain’s reported.

    Under Pinsky, the EDC was involved in several major development projects in New York City, including the controversial redevelopment of Willets Point and the $2 billion deal to create a Cornell NYC Tech campus on Roosevelt Island. More recently, he spearheaded Mayor Michael Bloomberg’s $19.5 billion SeaPort City plan. Pinsky, who joined the EDC in 2003 as a vice president, was chosen five years later by the mayor to head the agency. [more]

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  • From left: RXR's William Elder

    From left: RXR’s William Elder and the Starrett-Lehigh Building

    Sports apparel brand Under Armour has inked a 19,000-square-foot lease at the 20-story Starrett-Lehigh Building, owned by RXR Realty, Crain’s reported. The lease spans 10 years for a portion of the 15th floor, and marks the company’s first New York City space. [more]

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  • rxr-realty-worldwide-plaza

    RXR’s Scott Rechler and One Worldwide Plaza

    RXR Realty has agreed to buy a 49 percent stake in the office building at One Worldwide Plaza at 350 West 50th Street from a George Comfort & Sons partnership for roughly $660 million, Real Estate Alert reported.

    The 1.9-million-square-foot Midtown property would receive a nearly $1.35 billion valuation, or about $708 per square foot, if the deal is finalized. Eastdil Secured advised the partnership on the recapitalization, as well as a loan, the report said. [more]

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  • RXR Realty CEO Scott Rechler and 620 Sixth Avenue

    RXR Realty CEO Scott Rechler and 620 Sixth Avenue

    RXR Realty has leased the last remaining vacancy at 620 Sixth Avenue to advertising technology company Mediaocean, Crain’s reported.

    Asking rents are in the low $60s per square foot at the 20-story, 2 million-square foot-plus building, located between West 18th and 19th streets. Mediaocean took the building’s entire 88,400-square-foot sixth floor in the deal, where CBRE’s Gregory Tosko and Sacha Zarba represented the tenant.  [more]

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  • Scott Rechler of RXR Realty (Photo: Chris Martin)

    From the May issue: The names of those who got crushed when the real estate market crashed have been splashed in the headlines for several years: Harry Macklowe, Kent Swig and Lev Leviev, to name a few. But it’s only in recent months that it’s become fully possible to evaluate who’s benefited the most from the fallout and recovery. Somewhere on the top of that list: Scott Rechler.

    “Everything in our business is luck and timing,” said Richard Baxter, a top investment sales broker at Jones Lang LaSalle. “And he’s had great luck and incredible timing.” [more]

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  • Scott Rechler and Gov. Andrew Cuomo

    Scott Rechler, the head of RXR Realty, is known for his vast New York City real estate holdings, managing some 20 million square feet of property and emerging as the second-biggest buyer of Manhattan commercial real estate since the recession. But since 2011, Rechler has worn a second hat as a top advisor to Governor Andrew Cuomo, sitting on the board of the Port Authority of New York and New Jersey, Bloomberg News reported. [more]

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