RXR gets $400M+ from Goldman Sachs to refi Sixth Avenue building

Financing from Goldman Sachs includes a roughly $334M refinanced loan

Oct.October 22, 2019 06:18 PM
620 Sixth Avenue and RXR Realty's Scott Rechler (Credit: Getty Images, RXR Realty)

620 Sixth Avenue and RXR Realty’s Scott Rechler (Credit: Getty Images, RXR Realty)

RXR Realty has landed just over $421 million in financing from Goldman Sachs for 620 Avenue of the Americas.

The funding consists of a $334.4 million refinanced loan and $87.1 million in new financing, according to property records.

Representatives for RXR and Goldman Sachs did not immediately respond to requests for comment.

An Eastdil Secured team of Grant Frankel and Rob Turner brokered the deal.

The Chelsea building spans 760,000 square feet overall, and RXR took control of it in 2011 for more than $500 million. The company then purchased the entire building the following year. Tenants include T.J. Maxx, Marshalls and Bed Bath & Beyond.

WeWork also inked a major lease at the building in May for 212,400 square feet across three floors, replacing the offices of Spotify and Mediaocean. The co-working company has been facing severe financial issues in recent months following its botched initial public offering, and just opted to be taken over by its biggest backer, SoftBank, in a deal that values it at under $8 billion.

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