Manhattan’s Office Sector Defies National Slowdown
Manhattan’s office sector continued to defy national trends. The nation’s largest office market also continues to lead in office investment volume, sale prices, and rents. Investor appetite in Manhattan surged, with a 111.9 percent year-over-year increase as the metro recorded $5.5 billion in sales, and properties trading at $530 per square foot—the highest average among […]
RXR Plaza Hosts 19th Annual CANstruction Long Island
RXR Plaza hosted the 19th Annual CANstruction Long Island design competition, bringing together 11 teams from the architecture, engineering, and construction community along with local students to build sculptures made entirely of non-perishable cans. Each structure supports the fight against hunger on Long Island, with all cans donated to The INN, Island Harvest, Long Island Cares, and the NEST […]
RXR Hosts Commercial Observer’s Top Young Professionals Reception
RXR hosted Commercial Observer’s Top Young Professionals reception at the Starrett-Lehigh Building, bringing together emerging leaders from across the real estate industry to celebrate achievement and foster connections. Held at one of RXR’s most iconic office destinations, the event highlighted RXR’s commitment to community-driven development and value creation across its portfolio and spotlighted remarks from Joseph V. Graziose, President of […]
A Spotlight on RXR’s Investment in Midtown Manhattan
RXR’s planned upgrades to 1211 Avenue of the Americas were highlighted in the New York Post this week. Following RXR’s acquisition of a 49% stake in the building in January, and the recently secured $1.45 billion recapitalization, 1211’s transformation will bring new, glass-fronted retail arcades and building amenities including a boardroom, flexible suites and lounges for business, entertaining and […]
NYC Office Leasing Hits 23-Year High, Fueling Sales
In Forbes, Shimon Shkury recently noted that top-tier Class A and Trophy office buildings made up 79% of the total office sales over the nine-month period, trading at an average of $819/SF, up 18% year over year and just 6% below the 2018 benchmark. Shkury cited RXR’s recent acquisition, in partnership with Elliott Investment Management, of […]
RXR Recapitalizes 75 Rockefeller Plaza
Last week, RXR and Farallon Capital closed on the recapitalization of 75 Rockefeller Plaza. This transaction marked RXR’s seventh recapitalization in the past two years across 9 million square feet under the firm’s “3R” strategy of resetting basis, restructuring debt and re-tenanting space. RXR Chairman and CEO, Scott Rechler shared, “We’ve never wavered in our belief in […]
RXR Breaks Ground on Veridea’s First Residential Project, Summit House
This week, RXR broke ground on Summit House, the first multifamily residential project within Veridea, a $3 billion mixed-use community spanning 1,100 acres in Apex, North Carolina. The Summit House will feature two five-story apartment buildings totaling 291 units, offering one- and two-bedroom layouts ranging from 680 to 1,269 square feet. Plans also include a 399-car parking […]
RXR Kicks off Leasing at Eighty Nine DeKalb in Brooklyn With All-Electric Design
RXR has commenced leasing at Eighty Nine DeKalb in Downtown Brooklyn. The 30-story, all-electric residential tower exemplifies the integration of design, sustainability, and community, introducing a contemporary architectural statement to the Brooklyn skyline. As RXR’s fourth multifamily development in Brooklyn, the project delivers a balanced mix of market-rate and affordable residences, alongside 55,000 square feet of academic […]
Bisnow Interview with RXR’s Scott Crowe
Scott Crowe, RXR Executive Vice President, Chief Strategy Officer, and Head of Equity Capital Markets, recently spoke with Bisnow about pension funds selling commercial real estate properties as the institutions reevaluate their investment portfolios. Earlier this year, RXR made NYC’s largest non-user office acquisition since 2018, partnering with hedge fund Elliott Investment Management on 590 Madison Avenue. Bisnow […]
NYPost: Midtown real estate is booming with return-to-office in ‘full swing’
Midtown Manhattan’s resurgence is gaining momentum, and RXR’s 75 Rockefeller Plaza stands as a key example of this renewed vitality. The return-to-office trend has evolved from speculation to reality, driving demand for premier, well-located office space. With recent leases and renewals from Fenergo, Ayson Corp., Rand Merchant Bank, and Quinbrook, 75 Rock continues to attract leading companies […]
Architect Magazine Interview with RXR’s Whitney Arcaro
In an interview with ARCHITECT Magazine, Whitney Arcaro, Executive Vice President and Chief Revenue Officer, Residential at RXR, discussed how evolving demographics, hospitality-driven service models, and emotionally intelligent design are transforming multifamily living, and why the future of luxury living hinges on personalization, authenticity, and experience. Arcaro stated, “One of the biggest disruptors we’re seeing right now is […]
Scott Rechler’s Interview with CNBC’s “Squawk on the Street”
Earlier this week, RXR Chairman and CEO Scott Rechler, appeared on CNBC’s ‘Squawk on the Street’ to discuss what’s behind the surge in New York City commercial leasing activity, the possible effects of the mayoral election on the real estate market, and more. Rechler shared that AI companies are growing in New York because “Manhattan office buildings are the […]
