The Real Deal New York

RXR Realty sells off its Westchester and Fairfield office portfolio

July 13, 2017 05:23PM

Scott Rechler’s RXR Realty appears to be exiting the office markets in Westchester and Fairfield counties. Along with its affiliate Australian real estate investment trust RNY Property Trust, RXR has reached an agreement to sell off six office properties in the two counties.  Two of Westchester’s oldest real estate firms, Robert Martin Company and GHP Office Realty, are buying two office buildings on Route 119 in Tarrytown and Greenburgh, according to the Westch ester Business Journal. And an investor from North Jersey has purchased two additional office buildings in Elmsford. In all, RXR and RNY have sold 19 office properties in New Jersey, Long Island, Westchester and Fairfield counties this year, the publication claims. RXR is, however, making big bets on residential developments near transit stations in the suburbs around New York City. [WBJ]