Amid the New York City office market rebound, RXR has secured a three-year extension for its $1.04 billion commercial mortgage-backed securities (CMBS) loan at 1211 Avenue of the Americas, a 45-story, 1.8 million-square-foot office building in Midtown Manhattan. RXR purchased a 49 percent stake in the property in January 2025. As part of the CMBS extension, building partners RXR and Ivanhoé will invest $300 million to modernize the building via a program that will feature a reimagined multi-tenant lobby and a redesigned plaza.
