The Real Deal New York

Posts Tagged ‘scott rechler’

  • JonGrayBlackstoneMainArt

    Can Blackstone’s real estate group, led by Jon Gray (pictured), continue its phenomenal run?

    When General Electric executives phoned Blackstone Group’s Lexington Avenue office in March to propose one of the largest real estate deals in U.S. history, Kenneth Caplan’s first reaction was surprise.

    “We were not expecting the call,” the global chief investment officer of Blackstone’s real estate group said. “They had been selling off parts [of their real estate holdings] and we had bought some smaller portfolios.” He assumed GE would continue to sell piecemeal, if at all. But GE had a very different plan: It wanted to sell its entire $26.5 billion property portfolio at once, and it wanted Blackstone to buy it. [more]

    Comments
  • Scott Rechler and the Helmsley Building at 230 Park Avenue

    Scott Rechler and the Helmsley Building at 230 Park Avenue

    RXR Realty has financed its purchase of the Helmsley Building at 230 Park Avenue by closing a $785 million acquisition loan from American International Group.

    Meridian Capital Group negotiated the seven-year loan, which will fund Long Island-based RXR’s acquisition of the landmark office tower located just north of Grand Central Terminal. [more]

    Comments
  • From left: RXR's Scott Rechler and 75 Rockefeller Plaza

    From left: RXR’s Scott Rechler and 75 Rockefeller Plaza

    Bank of America has inked a lease for 200,000 square feet at RXR Realty’s 75 Rockefeller Plaza.

    Scott Rechler’s company is renovating the 33-story tower for roughly $140 million, the New York Post reported. RXR bought a 99-year lease on the building from Mohamed Al Fayed in 2014. [more]

    Comments
  • Scott Rechler Helmsley Building

    Scott Rechler and the Helmsley Building at 230 Park Avenue in Midtown

    RXR Realty has acquired the Helmsley Building at 230 Park Avenue for $1.2 billion in one of the biggest investment sales of the year. [more]

    Comments
  • From left: 32 Old Slip and Scott Rechler

    From left: 32 Old Slip and Scott Rechler

    UPDATED, 3:58 p.m., April 28: Melohn Properties paid $197.5 million for an interest in the land underneath 32 Old Slip, a Downtown office tower with 1.2 million square feet of space, according to property records filed with the city Tuesday. [more]

    Comments
  • From left: 230 Park Avenue and Scott Rechler

    From left: 230 Park Avenue and Scott Rechler

    Scott Rechler’s RXR Realty is close to acquiring Invesco’s 230 Park Avenue for $1 billion. [more]

    Comments
  • From left: 32 Old Slip in Downtown Manhattan and Scott Rechler

    From left: 32 Old Slip in Downtown Manhattan and Scott Rechler

    RXR Realty is slated to buy a Downtown commercial building from Beacon Capital Partners for $675 million. [more]

    Comments
  • From left: Scott Rechler and the Helmsley Building

    From left: Scott Rechler and the Helmsley Building

    Though the iconic Helmsley Building at 230 Park Avenue is landmarked, a buyer interested in the property could benefit from the upcoming rezoning of Midtown East’s Vanderbilt corridor. [more]

    Comments
  • From left: Mitchell and Gregg Rechler

    From left: Mitchell and Gregg Rechler

    Gregg Rechler and Mitchell Rechler, of the prominent Long Island real estate family, are now focusing on upscale multi-family rental housing for Long Island residents.

    The cousins, usually involved with commercial deals, have formed a new brand: Greybarn. Greybarn’s first project, according to the Wall Street Journal, will be a 500-unit luxury development with 45,000 square feet of retail space in Amityville, N.Y. [more]

    Comments
  • Larry Silverstein and 3 World Trade Center renderings

    Larry Silverstein and 3 World Trade Center renderings

    UPDATED, 3:42 p.m., June 25: The Port Authority of New York and New Jersey voted today to release roughly $159 million of insurance money that was paid by insurers following the destruction of the original World Trade Center complex and is currently held in a reserve fund. The move will help Larry Silverstein to finance the construction of 3 World Trade Center. [more]

    3 Comments
  • scott-rechler-and-237-park

    Scott Rechler

    Scott Rechler’s RXR Realty secured more than half of the $300 million used to purchase the 61 Broadway in the Financial District last month with a loan from HSBC.

    The realty firm received $185 million at closing and another $15 million for future capital expenditures and leasing commissions, according to JLL’s capital markets team. The office building measures 786,975 square feet. [more]

    Comments
  • From left: Scott Rechler, a rendering of 3 World Trade Center and Larry Silverstein

    From left: Scott Rechler, a rendering of 3 World Trade Center and Larry Silverstein

    The Port Authority of New York & New Jersey yet again tabled a vote on whether to provide a $1.2 billion subsidy for Silverstein Properties’ development of 3 World Trade Center. The decision to stall appears to be triggered by a lack of support for the aid package. The lack of action may also mean that Larry Silverstein will now have to turn to the private sector to help him fund construction of the $2.4 billion tower. [more]

    Comments
  • port-authority-rxr

    From left: John Degnan and Scott Rechler

    Port Authority of New York & New Jersey vice chair and RXR Realty CEO Scott Rechler was among those appointed to a new “special panel” that will advise on agency reforms.

    New York Governor Andrew Cuomo and New Jersey Governor Chris Christie jointly released a letter to the Port Authority board of commissioners yesterday on the new committee. They also said that the bistate agency’s management might soon be split up — rather than dividing the ownership of assets — Crain’s reported. [more]

    Comments
  • From left: A rendering of 3 World Trade Center, Scott Rechler and Kenneth Lipper

    From left: A rendering of 3 World Trade Center, Scott Rechler and Kenneth Lipper

    The Port Authority of New York and New Jersey is set to delay by a month a vote on whether or not to pledge a further $1 billion for Silverstein Properties’ 3 World Trade Center tower in Lower Manhattan. Officials were to meet this afternoon to decide on the fate of the controversial proposal, which would see the authority raise its financing guarantee to $1.2 billion from the current $200 million. [more]

    1 Comment
  • From left: Carol

    From left: Carol Kellermann, Martin Robins and Scott Rechler

    A special oversight committee for the Port Authority of New York and New Jersey will convene publicly for the first time next week to glean suggestions for reform.

    The committee was formed earlier this year to evaluate the agency, which has been hit by political scandal in recent days, as previously reported. The effort to include the public is seen as a step towards making the two-state operation more transparent amid quarrels over spending on large-scale developments like the World Trade Center complex redevelopment. [more]

    Comments
  • 3-wtc

    From left: 3 World Trade Center, Scott Rechler and Kenneth Lipper

    A vote on a proposal to ramp up the subsidized financing for Silverstein Properties’ 3 World Trade Center has been delayed to April or May.

    The Port Authority of New York and New Jersey board of commissioners gave Scott Rechler, the agency’s vice chair, approval to extend talks with Silverstein. The plan would raise the Port Authority’s financial contribution to $1.1 billion from the present agreement of $200 million. [more]

    Comments
  • airport-port-authority

    Port Authority vice chair Scott Rechler and Terminal 3 at JFK Airport in Queens

    The Port Authority of New York and New Jersey earmarked $8 billion of its 10-year capital budget to extensively renovate its airports. [more]

    1 Comment
  • 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. 

    Comments
  • 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]

    Comments
  • From left:

    From left: Scott Rechler, Jared Kushner and Kanye West

    From the November issue: In this month’s “In their words” feature, we hear from hip-hop mogul Kanye West — not on his greatness or on the topic of his wife, Kim Kardashian — but on his design inspirations. Jared Kushner also offers his two cents on why residents at his Puck Building penthouses won’t be bothered by his neighbors. RXR Realty’s Scott Rechler also opens up on why he dicided against bidding on the Empire State Building. [more]

    Comments
MENU