RXR Realty picks up remaining 620 Sixth stake

New York /
Jul.July 23, 2012 08:30 AM

Scott Rechler‘s RXR Realty has picked up its option to acquire the remaining 45 percent stake in 620 Sixth Avenue, Crain’s reported. The firm purchased a 55 percent stake in the property, situated between West 18th and West 19th streets, in a deal last year that valued the 760,000-square-foot building at $500 million. That acquisition came with the option to buy the entire building and Rechler exercised it early.

The building was formerly owned by a partnership that included  Joseph Chetrit, Charles Dayan and Yair Levy. Now, those partners are relinquishing all control of the building.

The property’s 220,000 square feet of retail are leased to T.J. Maxx, Marshalls and Bed Bath & Beyond. At the same time 28 percent of its 540,000 square feet of office space is vacant, but is attracting “a lot of interest,” according to Rechler. The building is reportedly being considered by Spotify and other tech firms seeking Midtown South space. [Crain’s]


Related Articles

arrow_forward_ios
RXR CEO Scott Rechler with 56-19 Grand Avenue, Queens (Getty, RXR)

These were the top outer-borough loans in December

These were the top outer-borough loans in December
From top: 355 Exterior Street in the Bronx, 55-15 Grand Avenue in Queens and 700 Atlantic Avenue in Brooklyn (Google Maps)

10 biggest new real estate projects in NYC in 2020

10 biggest new real estate projects in NYC in 2020
Clockwise from top: David Bistricer of Clipper Equity, Joseph Chetrit a rendering of the Gramercy Square condominium and Robyn Sorid of G4 Capital Partners (Photos via Clipper Equity, Getty, VUW, G4)

Chetrit, Bistricer’s Gramercy Square condo lands $207M loan

Chetrit, Bistricer’s Gramercy Square condo lands $207M loan
RXR Realty's Scott Rechler (Getty; iStock)

RXR to raise $1B pandemic fund

RXR to raise $1B pandemic fund
237 Park Avenue and Scott Rechler (Photos via Getty; RXR)

What tenants are paying at RXR and Walton Street Capital’s 237 Park Avenue

What tenants are paying at RXR and Walton Street Capital’s 237 Park Avenue
RXR's Scott Rechler and a rendering of 55-15 Grand Avenue (Getty, RXR Realty)

Amazon’s future Queens warehouse, Robert DeNiro’s film studio among top NYC projects

Amazon’s future Queens warehouse, Robert DeNiro’s film studio among top NYC projects
110 East 76th Street and Joseph Chetrit (Credit: Google Maps; Sylvain Gaboury/Patrick McMullan via Getty Images)

Joseph Chetrit sells UES townhouse for $25M

Joseph Chetrit sells UES townhouse for $25M
Airbnb’s Brian Chesky, RXR Realty’s Scott Rechler and 75 Rockefeller Plaza (Credit: Rechler by Eugene Gologursky/Getty Images, 75 Rockefeller)

Airbnb and RXR nix resi conversion deal at 75 Rock

Airbnb and RXR nix resi conversion deal at 75 Rock
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...