The Real Deal New York

RXR takes $290M mortgage on 61 Broadway

Scott Rechler’s firm recently sold a 49% stake there for $216M
April 22, 2016 09:07AM


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. 

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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