Scott Rechler featured in Axios Markets
RXR Chairman and CEO, Scott Rechler, spoke to Axios about the impact that declining office valuations will have on commercial real estate and capital markets. “We are starting to see some movement — not a lot yet — in deals where lenders are willing to start trading at prices that better reflect the substantial discounts that you need, to […]
Brian Sullivan from CNBC’s Last Call Interviews Scott Rechler
Scott Rechler, RXR Chairman and CEO, joined CNBC’s ‘Last Call’ to share his thoughts on the impact that prolonged high interest rates will have on commercial real estate, and where opportunities exist for lenders, buyers and investors. Last Call Clip →
Squawk Box with Scott Rechler
Scott Rechler, RXR Chairman and CEO, joined CNBC’s ‘Squawk Box’ to share his thoughts on the impact that crossing the chasm from a low-interest rate regime to a substantially higher interest rate regime will have on lenders, borrowers, and investors of commercial real estate. Squawk Box Clip →
Top Real Estate Mogul Warns ‘500 or more’ Banks Will Either Fail or Be Consolidated Over the Next Two Years
RXR Chairman and CEO, Scott Rechler, was quoted by Fortune about the impact of maturing CRE loans on local banks. “Scott Rechler has faith that many commercial real estate owners, operators, and lenders will figure out a way to overcome the challenges facing them, but he’s more skeptical about regional banks.” Fortune Article →
Scott Rechler in Fortune on the State of CRE
RXR Chairman and CEO, Scott Rechler, was featured in Fortune where he shared his take on the commercial real estate market. “The CRE industry is coming to grips with the fact that this is the start of an entirely new era—and it’s one that won’t be as friendly as others. Higher interest rates, fewer available loans, increased vacancies […]
Inside the New Airport Terminal with Ten Gates and World-Class Restaurants
JFK Millennium Partners, a private consortium composed of Vantage Airport Group, American Triple I, RXR, and JetBlue, is building a new 1.2 million square foot Terminal 6 at JFK. The terminal complex will transform the guest experience at Terminal 6 and will be filled with new shops and restaurants that will provide more that 4,000 job […]
RXR and Korman Unveil New Community in Phoenix
The 17-floor building, called AVE Phoenix Sky, will add 254 new apartments to the Phoenix market and includes 4,350 square feet of retail space, with 3,770 reserved for a future restaurant and 580 square feet for a studio for local artists. Phoenix Business Journal Article →
US Real Estate is a Micro-Drama Set to Turn Macro
The wave of mortgages coming due this year could turn a micro problem into a macro one with commercial real estate borrowers due to repay nearly $1 trillion. In broad terms, small U.S. banks are the worry. Scott Rechler, Chairman and CEO of RXR and a director of the Federal Reserve Bank of New York, estimates up to […]
RXR Deploying Capital for Distressed Commercial Properties
A venture of Ares Management and RXR is buying discounted interests in 3 million square feet of office space and has made offers on more than $500 million of senior debt. Wall Street Journal Article → Bloomberg Article → Crain’s Article → The Real Deal Article →
Fashion Week Gets Some Breathing Room at the Starrett-Lehigh Building
This New York Fashion Week, IMG, owner and operator of NYFW: The Shows, will host this year’s main event hub at The Starrett-Lehigh Building. The building has previously hosted individual fashion shows on the 18th floor, which is fitted out as an event space, a flexible white box, and large enough (68,000 square feet) to host 12 […]
Historic NYC Industrial Building Gets Dressed Up for New York Fashion Week
RXR’s Starrett-Lehigh Building will be the official designer runway venue of NYFW: The Shows showing designers such as Bach Mai, Badgley Mischka, The Blonds, Libertine, Prabal Gurung, Son Jung Wan and Pamella Roland. In recent years, Starrett-Lehigh has taken on a more fashionable image. RXR has invested in major infrastructure upgrades at the building, including thousands […]
Convene to Open Meeting and Conference Center at 5 Times Square
Introducing Venue 42 by Convene at RXR’s 5 Times Square. Venue 42 by Convene will offer 30,000 square-feet on the fifth floor. This location will feature nine custom-configurable meeting rooms, the largest of which will have a 230-person capacity making it ideal for conferences, executive offsites, and evening receptions. Venue 42 will open this March. ConnectCRE Article → Commercial […]
