RXR and Hudson Bay Capital have secured a $320 million loan to jointly acquire and recapitalize 620 Avenue of the Americas, a 700,000-square-foot mixed-use office and retail property in Manhattan.
“This recapitalization, combined with overwhelming tenant demand both in the office and retail market, demonstrates that by applying capital and capabilities to the right asset with the right capital structure, iconic buildings like 620 Avenue of the Americas can thrive in a post-pandemic world,” said Scott Rechler, RXR Chairman and CEO.
