RXR Chairman and CEO, Scott Rechler, recently spoke with Commercial Observer about the firm’s outlook for 2025 and the market conditions that created the right environment for RXR to pursue new opportunities, including acquiring 590 Madison and accelerating both credit and equity investments across the sector. Rechler noted that the market has been experiencing “dislocation, not distress,” and that the lack of clear pricing has enabled firms like RXR to buy office assets at generational lows. Over the past 24 months, RXR has purchased 7.5 million square feet of office space in New York.
“Mostly, it was working our way through capital structures and buying institutional interests,” Rechler said. “What’s happening in New York is that the office leasing market has led the way. Tenant demand has, in turn, brought finance markets back.”
