RXR’s repositioning of 590 Madison Avenue is making headlines following the firm’s $1.1 billion acquisition of the former IBM tower alongside Elliot Investment Management last year, marking the first Manhattan office sale to surpass the billion-dollar threshold in three years. Since acquiring the property, RXR has invested in significant upgrades to the building, including the new 25,000 square-foot Madison Avenue Club designed by Gensler, featuring wellness spaces, hospitality-style amenities, and an outdoor terrace lounge. The tower continues to attract major tenants including Apollo Global Management, Schoenfeld Strategic Partners and LVMH.
