RXR Realty purchases Starrett-Lehigh building for $900M

RXR Realty purchased the Starrett-Leigh building at 601 West 26th Street for $900 million from Shorenstein Properties, sources told Crain’s. The 79-year-old, 2.2 million-square-foot building has a variety of tenants, led by the Martha Stewart media empire and Lord & Taylor’s corporate offices. Crain’s said that Scott Rechler, chairman of RXR Realty, was interested in the property because he foresees growth in the area. RXR also purchased 1330 Sixth Avenue in November, and bought a 49 percent stake in 340 Madison Avenue last April. [Crain’s]