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’s Multifamily Demographic Moves to the Sunbelt
Eric Clement, RXR, SVP, Fund Manager, Social Impact & Sustainability Investments, spoke with The Real Deal about RXR’s focus on high-growth Sunbelt metros, such as Dallas, Texas. RXR closed on a 100-year-old, two-story building in Dallas’ Deep Vellum entertainment district. The Real Deal Article →
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 […]
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 […]
Sustainability Is a Serious Deal for These Westchester Businesses
RXR’s Hamilton Green project in White Plains, NY, plans to repurpose the White Plains Mall into transit-oriented housing. The project is designed as a LEED Silver building, in line with Energy Star standards, and seeks to achieve the WELL Health + Safety certification upon opening, said Joseph Graziose Jr., EVP, RXR Development Services. Hamilton Green will also use […]
RXR Purchases 100-Year-Old Building in Deep Ellum, Texas
RXR has purchased a 100-year-old building in Deep Ellum, Texas from Uplift Education. The two-story building, at 2625 Elm Street, measures 85,000 square feet and spans most of the block. Deep Ellum, a nightlife and entertainment district just east of downtown Dallas, has become a development hotspot in the past decade. The Real Deal Article […]
JFK Terminals 6 & 7 Recognized with the Breakthrough Award of Public-Private Partnership of the Year
JFK Terminals 6 & 7 Redevelopment Project has been recognized by the Commercial Observer with the Breakthrough Award of Public-Private Partnership of the Year. The Breakthrough Awards recognize “the savvy innovators who demonstrated adept deal making skills and completed the largest real estate transactions in a year fraught with market uncertainty.” RXR is working on this iconic […]
Placemaking: An Interview with Rebecca D’Eloia
LEADERS Magazine interviewed Rebecca D’Eloia, Executive Vice President of RXR Development Services, to discuss RXR’s commitment to placemaking and building sustainable community in RXR’s national expansion plans in Apex, North Carolina and RXR’s partnership with Long Island University in Brooklyn, New York. Rebecca also shared her perspective on opportunities for women to grow and lead in the […]
New York’s Biggest Commercial Real Estate Loans in 2023
Office refinancings topped the list of New York’s biggest commercial real estate loans in 2023, totaling $5.4 billion. In October 2023, RXR negotiated a modification of a $1.2 billion loan for 1285 Avenue of the Americas. The negotiated terms added equity to pay down the loan’s principal balance, pushed out the loan maturity and bumped up the […]
The Office Market Had It Hard in 2023. Next Year Looks Worse.
Office building owners, contending with falling demand and high interest rates, struggled in 2023 and are losing hope that occupancy rates will rebound soon. “In 2024, it’s game time,” said Scott Rechler, Chairman and CEO of RXR. “Owners and lenders are going to have to come to terms as to where values are, where debt needs to […]
Crossing the Chasm Episode 6: The Market’s Head Fake
In this episode, Scott discusses the recent bull market, and how it is not reflective of the underlying health of the economy. Scott speaks to what he expects to see in 2024 and how to be competitive as the market adjusts to the economic realities. Listen to Crossing the Chasm →
