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 […]
Squawk on the Street with Scott Rechler
RXR Chairman and CEO Scott Rechler joined CNBC’s ‘Squawk on the Street’ earlier this week to discuss why he’s been outspoken about troubles in the commercial real estate sector, if it’s too early to put capital to work in real estate, and more 2024 could be turbulent for the commercial real estate industry, but as Scott […]
RXR Signs Two Leases at 530 Fifth Avenue
RXR has signed two leases at its Midtown East office building 530 Fifth Avenue. Executive search firm Major, Lindsey & Africa signed an 11-year lease for 12,300 square feet on the 11th floor. Software development company Operative signed a three-year lease renewal for 9,750 square feet on the 19th floor of the building, where the company has been a […]
RXR and Ares Management to Invest in Distressed Office Buildings
RXR and Ares Management are partnering to invest in New York City’s distressed office buildings. RXR and Ares are planning to target a sliver of office buildings around the city that they believe are still appealing but that may need fresh capital to remain competitive or a restructuring of debt to reflect the new realities […]
RXR’s Starrett-Lehigh Building Named the Official Designer Runway Venue of NYFW: The Shows
IMG, the official organizer and operator of NYFW: The Shows, has released its full slate of programming and events. NYFW takes place February 9th to 14th, and IMG will activate across New York City with three main locations: RXR’s Starrett-Lehigh Building, the official designer runway venue of NYFW: The Shows, the consumer-focused NYFW Backstage at 21Greene, […]
