RXR in contract to buy 61 Broadway for $330M

Seller Broad Street Development also in process of unloading 55 Broadway

Scott Rechler And 61 Broadway
Scott Rechler And 61 Broadway

Scott Rechler’s RXR Realty is in contract to acquire a 786,000-square-foot office building at 61 Broadway in the Financial District for $330 million.

The majority of the leases in the office tower are expiring soon, making way for the prospective new landlord to renovate the site. RXR is looking to attract creative and tech firms and is touting the rents in FiDi. Area rents tend to be cheaper than their Midtown South counterparts, Crain’s reported, citing unnamed sources.

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JLL brokers Scott Latham, Richard Baxter, Ron Cohen and Jon Caplan represented Broad Street Development, which currently owns the building. They also represented Broad Street Development earlier this month when Harbor Group International entered contract to buy the nearby office building at 55 Broadway, also known as One Exchange Plaza, as The Real Deal reported.

Broad Street bought 61 Broadway for $130 million in 2004, records show. [Crain’s]Mark Maurer