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.
Kyle Kimball, the chief financial officer of EDC has been nominated to take over Pinsky’s role, according to a memo sent to agency staff cited by Crain’s. Pinsky will stay on through the summer before transitioning into real estate, joining RXR as executive vice president. [Crain’s] – Mark Maurer