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 […]
Scott Rechler Appears on 60 Minutes
RXR Chairman and CEO, Scott Rechler, appeared on CBS News’ 60 Minutes to discuss what he refers to as an ‘existential moment’ in commercial real estate. Scott describes how the industry is ‘crossing the chasm’ during this current point of inflection. “This post-COVID world of higher interest rates, the changing nature of how people work […]
Scott Rechler on CNBC’s Last Call: The economy and markets have been addicted to ultra-low interest rates
Scott Rechler, RXR Chairman and CEO, appeared on CNBC’s Last Call to share his views on how inflation may be impacting certain segments of the economy more than others and why he believes we are still in the early innings when it comes to adapting to a new interest rate regime.
RXR Inks 700K SF Lease at 450 Lexington for Davis Polk & Wardwell Law Firm, Largest Lease in NYC This Year
RXR signed Davis Polk & Wardwell law firm to a 25-year extension at 450 Lexington Avenue. In connection with the lease, RXR and its partners are investing over $300 million for extensive capital improvements throughout the building common areas across Davis Polk’s 23 floors. The planned renovations will encompass the full modernization of lobbies and […]
RXR Buys Site for a $3 Billion ‘Superstar Region’ Project in Apex, North Carolina
RXR acquired Veridea, a 1,000+ acre, $3 billion mixed-use development site in Apex, North Carolina, located within the Research Triangle formed by Raleigh, Durham, and Chapel Hill. The new development will be part of RXR’s national strategy of investing in “Superstar Regions.” Phase I of the project includes the development of at least 1,000 multifamily […]
RXR Celebrates JFK Terminal 6 Groundbreaking
As part of JFK Millennium Partners, RXR kicked off the start of construction at JFK’s Terminal 6 with Governor Hochul and the New York Port Authority. The ceremonial groundbreaking marked the start of work on the 10-gate, 1.2 million square foot Terminal 6, which is expected to welcome passengers as early as 2026. Click here […]
Longtime Apex development Veridea to pick up progress after lengthy delay
Nestled in between U.S. Highway 1 and Interstate 540 and along NC-55, the Veridea development project will soon take shape and form in Apex. Click here to view full ABC11.com story
RXR Acquires Veridea in Apex, North Carolina for $3B ‘Superstar Region’ Project
RXR acquired Veridea, a 1,000+ acre, $3 billion mixed-use development site in Apex, North Carolina, located within the Research Triangle formed by Raleigh, Durham, and Chapel Hill. The new development will be part of RXR’s national strategy of investing in ‘Superstar Regions’. “The Veridea project is consistent with our strategy to invest in Superstar Regions […]
RXR’s Two Clinton Park Tops Out at 28 South Division Street in New Rochelle
RXR marked the topping out of Two Clinton Park, the firm’s third development project in downtown New Rochelle. Two Clinton Park’s topping out underscores RXR’s nearly decade-long commitment to the growth of New Rochelle’s urban core since being named the master developer of the city’s downtown. Two Clinton Park, a 28-story, 390-unit apartment building, broke […]
RXR Chairman and CEO Scott Rechler Joins ‘Squawk on the Street’ to Discuss Outlook on Commercial Real Estate
RXR Chairman and CEO Scott Rechler joined CNBC’s ‘Squawk on the Street’ to discuss the outlook on commercial real estate and RXR’s plan to review its own portfolio through a process dubbed ‘Project Kodak’. RXR will continue to allocate resources toward the ‘digital’ category of competitive buildings and find alternative uses for buildings that fit […]
East Side Access Service Begins at Grand Central Madison
The Metropolitan Transportation Authority’s Long Island Railroad (LIRR) has inaugurated service into the newly constructed Grand Central Madison Terminal. The expanded service is the outcome of an $11-billion project to connect the LIRR to the East Side of Manhattan. The city plans to replace 10-million square feet of aging commercial space surrounding the Grand Central […]
Pier 57 Wins New York State Historic Preservation Award
The Hudson River Park Trust announced that Pier 57 has received a 2022 New York State Preservation Award from the New York State Office of Parks, Recreation, and Historic Preservation (OPRHP). One of ten projects selected this year, Pier 57 earned recognition as a unique example of preservation work for a structure that is iconic […]
