By Candice Ferrette, Newsday Long Island University is selling $76 million in rights to build on its Brooklyn campus to Uniondale-based developer RXR Realty — the school’s biggest expansion in the borough since it was founded there in 1926. The deal advances a larger $300 million project that would be a notable addition to the skyline, featuring a new university building with a rooftop athletic field and a high-rise residential tower, officials for both entities said. Also, an unprecedented cash infusion of $41 million would go into the private university system, officials said. T [...]
NEW YORK--(BUSINESS WIRE)-- SL Green Realty Corp. (NYSE: SLG), New York City's largest office property owner, and private investment manager, RXR Realty, today announced that they have signed an agreement to acquire a combined 48.7% interest in Worldwide Plaza, a Class A, trophy asset located in Midtown Manhattan. The interest is being sold by New York REIT (NYSE: NYRT), which will continue to own the remaining equity with WWP Sponsor, LLC, its existing partner. The transaction, which is expected to be completed in the fourth quarter of 2017 subject to customary closing conditions, values the [...]
At RXR Realty, we take pride in our role as a leader in the New York City real estate industry. We recognize New York’s distinct personality and rich history and we embrace the future of this dynamic region. For over 10 years, our driven team has called New York City home, and our commitment to the region has only strengthened in recent years. One of the ways we have demonstrated this commitment is through strong community engagement. RXR is a proud sponsor of the 9/11 Memorial Walk to Remember and the Long Island Marathon, and we collaborate with organizations such as Her Justice and Ope [...]
The RXR platform manages 74 commercial real estate properties and investments with an aggregate gross asset value of approximately $17.7 billion, comprising approximately 23.7 million square feet of commercial operating properties and approximately 6,000 multi-family and for sale units in various stages of development in the New York Metropolitan area as of September 30, 2017, adjusted for transactions through October 18, 2017. Gross asset value is compiled by RXR Realty in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.