RXR Chairman and CEO, Scott Rechler, joined Andrew Ross Sorkin and CNBC’s Squawk Box team to discuss the current state of commercial real estate in New York City. One topic Scott raised was the critical role of thoughtful public policy in unlocking the innovation and ingenuity of the private sector. Scott touted New York City’s East Midtown Rezoning program as a model for successful public-private partnerships. The program has paved the way for some of the City’s newest and most modern office buildings, such as SL Green’s One Vanderbilt and the new JP Morgan Building. And coming soon is RXR and TF Cornerstone’s 175 Park Avenue, which will be the tallest building in the Western Hemisphere when complete. This new skyline-defining project will feature 2.9 million square feet of office and hotel space, hundreds of millions of dollars in new transit improvements, 25,000 square feet of new public open space, and more.
