Scott Rechler on the Transformation of 5 Times Square
As the pack of office conversions accelerates, local neighborhoods are seeing the benefits – bringing in new residents and restoring street life, shopping and entertainment venues. Earlier this week, RXR Chairman and CEO, Scott Rechler, discussed the 5 Times Square office-to-residential conversion with the Wall Street Journal. The project will transform the 1.1-million-square-foot office building into as many as 1,250 […]
RXR’s Residential Portfolio Features Engagement Platform for Residents
Across its residential portfolio of nearly 10,000 units, RXR partners with Cobu, a resident engagement platform designed to connect residents to one another for communication and marketplace needs. In flagship RXR properties like The Willoughby in Brooklyn and Maven in The Bronx, more than 90% of residents opt to participate in community engagement on Cobu. Through this marketplace tenants have […]
RXR Welcomes 2025 Summer Intern Class
Last week, RXR kicked off our 10-week summer internship program, bringing together 27 outstanding students from 26 colleges and universities. This diverse group includes 24 undergraduates and 3 graduate students, who will be embedded across 15 departments throughout our organization. The program offers a deep dive into RXR’s multidisciplinary approach to real estate development. Our interns […]
RXR Acquires 590 Madison Avenue
RXR signed a letter of intent to purchase 590 Madison Avenue, a one-million-square-foot office property in the heart of Midtown Manhattan, for $1.1 billion. This would mark the first office sale in New York City to exceed the $1 billion threshold in nearly three years. Commercial Observer noted that Rechler expressed a preference for investing in office buildings […]
RXR Hosts National Residential Development Forum
Last week, RXR’s Chief Revenue Officer of Residential, Whitney Arcaro, had the privilege of moderating a dynamic panel on office-to-residential conversions at Commercial Observer’s National Residential Development Forum, held at 230 Park Avenue — one of RXR’s premier properties. The forum brought together leaders from across the residential real estate industry to explore the future of housing, emerging […]
5 Times Square will be Converted from Office to Residential
New York State announced approval of a conversion plan for 5 Times Square. RXR will lead the development team that will bring 1,250 apartments to the office-to-residential conversion. The 38-story building will be comprised mostly of studio apartments and is likely to open to tenants in 2027. Scott Rechler, Chairman and CEO of RXR, said that “conversions like […]
RXR Chairman and CEO Talks State of the Office Market with Commercial Observer
During a day of in-depth discussions, optimistic projections and the occasional hard truth at Commercial Observer’s ‘New York State of Office Forum’, which was held at RXR’s Starrett-Lehigh Building on May 15, RXR Chairman and CEO Scott Rechler spoke about the current state of the post-COVID office market. Rechler shared that that strong demand for Class A space in New […]
RXR JV Acquired and Recapitalized an 829-Unit Luxury Multifamily Project in Jersey City
A joint venture between RXR, funds managed by affiliates of Strategic Value Partners LLC, One Investment Management, and Columbia Property Trust have acquired and recapitalized Hudson House, an 829-unit luxury multifamily project in Jersey City, N.J. Hudson House currently consists of three residential buildings, one of them being the result of an adaptive reuse. The community’s first […]
RXR Secures Loan Modification and Extension for 1211 Avenue of the Americas
Amid the New York City office market rebound, RXR has secured a three-year extension for its $1.04 billion commercial mortgage-backed securities (CMBS) loan at 1211 Avenue of the Americas, a 45-story, 1.8 million-square-foot office building in Midtown Manhattan. RXR purchased a 49 percent stake in the property in January 2025. As part of the CMBS extension, […]
AVE Phoenix Terra Highlighted Amongst Gen Z Renters
As Gen Z is now the dominant force in the rental market, The Wall Street Journal recently interviewed young renters to understand what they are seeking in today’s search for an apartment. The article followed four people including a renter at RXR’s AVE Phoenix Terra, who highlighted the property’s extensive amenities and full-service experience. Wall Street Journal Article
RXR Chairman and CEO Scott Rechler Talks Nonbank Lending with Commercial Observer
In a recent conversation with the Commercial Observer, RXR Chairman and CEO Scott Rechler discussed the rise of private credit over the last year. Rechler shared that whole loans provided to the funds are often broken up to disentangle risk — which is also easier for borrowers to live with. Rechler added, “What we’re finding is an […]
RXR to Manage Landmark Midtown Office Building, 150 East 42nd Street
This week, RXR announced that the firm will take over management and leasing at the landmark Socony-Mobil Building in Midtown Manhattan, located at 150 East 42nd Street. As the building enters its next phase of recovery, RXR will lead renovations of the lobby and amenity spaces. The Real Deal Article
