RXR Executes Leases at 37-18 Northern Boulevard in Queens
This week, RXR announced two leases at the Standard Motor Products Building, 37-18 Northern Boulevard, in Long Island City. I Grace, a luxury homebuilder and services provider, renewed its 13,449-square-foot office at the property for five years, and will continue to occupy the SMP Building’s fifth floor. Additionally, luxury luggage company Rimowa will also stay at the property and […]
RXR, Korman Launch Leasing at White Plains Mixed-Use
RXR and Korman Communities have launched leasing at AVE Hamilton Green, a residential and mixed-use community located at the site of the former White Plains Mall. The project will be managed by Korman under its award-winning management brand AVE and will include two residential buildings. The master plan’s first residential building, 25 Cottage, will feature 170 luxury […]
RXR Honored at March of Dimes Benefit
Earlier this week, Todd Rechler, RXR’s Chief Construction and Development Officer, accepted the 2024 Real Estate Award at the March of Dimes Westchester/Fairfield Real Estate Awards in White Plains. The March of Dimes, which supports critical research, education, and programs supporting the health of moms and babies, bestows its annual Real Estate Award to prominent individuals and companies whose […]
RXR’s Credit Solutions Platform and New Hires of Industry Veteran Steven Schwartz, and Real Estate Capital Markets Leaders Annie Hsieh and Greg Oran
This week, PERE Credit and the Commercial Observer featured RXR’s credit solutions platform and its hiring of industry veterans Steven Schwartz, RXR EVP and Head of Real Estate Credit, Annie Hsieh, EVP of Equity Capital Markets, and Greg Oran, SVP of Equity Capital Markets. RXR’s credit solutions platform has originated billions of dollars of real estate […]
Scott Rechler Interviewed on Fox Business
RXR Chairman and CEO, Scott Rechler, joined Liz Claman on Fox Business to discuss the state of commercial real estate, return to office, and Class-A office leasing in New York City. Rechler highlighted that New York City is different from other markets with not only the strongest return to office, but an office leasing market that is the […]
RXR, Hudson Bay Capital Secure $320M to Acquire and Recap 620 Avenue of the Americas
RXR and Hudson Bay Capital have secured a $320 million loan to jointly acquire and recapitalize 620 Avenue of the Americas, a 700,000-square-foot mixed-use office and retail property in Manhattan. “This recapitalization, combined with overwhelming tenant demand both in the office and retail market, demonstrates that by applying capital and capabilities to the right asset with […]
RXR Recognized in Commercial Observer’s Power Proptech List
Commercial Observer recognized RXR’s Scott Rechler, Matt Boras, and Andrew Min in its 2024 Power Proptech list. In discussing the firm’s technology initiatives in this space, RXR Chairman and CEO Scott Rechler shared: “We made a strong push to digitize much of our business a few years ago, even before the pandemic, starting with the creation of our […]
Demand for High-End Office Space is Hot
RXR Chairman and CEO, Scott Rechler, recently spoke with Business Insider about the demand for Class-A office space in Manhattan and discussed the firm’s intended plans for new-build, 175 Park Avenue. Demand is high for the the 1,575-foot-tall tower, near Grand Central Terminal in midtown Manhattan, and will call for rents above $200 per square foot, among the highest […]
RXR Secures Two Leases at 620 Avenue of the Americas
This week, RXR announced two leases at 620 Avenue of the Americas. Cole Haan signed an 11-year renewal to keep its 62,262-square-foot office in the building, and 32BJ signed a 20-year lease to expand its footprint in the building by 20,778 square feet. RXR EVP, Managing Director of New York City Division, William Elder, said, “620 Avenue of the Americas […]
RXR Chairman and CEO, Scott Rechler, Joins ‘Squawk Box’ on CNBC to Discuss Recent Reduction in Interest Rates
Earlier this week, RXR Chairman and CEO, Scott Rechler, joined ‘Squawk Box’ on CNBC to discuss the impact of the interest rate cuts on commercial real estate. In this interview, Rechler says that by shaping the narrative, Federal Reserve Chairman Jerome Powell helped bring Treasury yields down while keeping both stock and bond markets strong. With the loosening […]
Rechler: Commercial Real Estate is Facing New Paradigm
RXR Chairman and CEO, Scott Rechler, recently joined David Westin on Bloomberg’s Wall Street Week to discuss the current state of the commercial real estate industry. In this segment, they explore how the industry has reached an inflection point, moving from ‘higher for longer’ interest rates to ‘higher as the new normal’. This shift will lead to a […]
Plunging Office Values Alarm Washington
RXR Chairman and CEO, Scott Rechler, unpacked the impact of higher-for-longer interest rates on commercial real estate in a conversation with Politico. Rechler stated: ”This is different than 2008 – that this is not going to resolve itself in just, you know, prices and values re-inflating because of an injection of capital into the system… at […]
