By Eric Alexander These last few years have shown tremendous progress on our Main Streets with over 12,000 units of transit oriented housing approved, over a billion dollars of federal and state funds invested in our sewage treatment plants and nearly 60 downtown communities working on revitalization plans. It’s all good news in a climate that isn’t known for progress. It is important to draw the right conclusions as to why success is occurring. Public support for downtown projects is at an all-time high: In a review of the 63 downtown and transit oriented development project hearing [...]
By Daniel Geiger RXR Realty closed on its nearly $2 billion purchase of 1285 Sixth Ave. Friday—the biggest office building transaction in the city so far this year. In conjunction with the acquisition, RXR signed a deal with UBS for about 900,000 square feet at the 1.8 million-square-foot skyscraper. The Swiss bank agreed to remain as the 42-story tower’s anchor tenant through 2032. UBS occupies floors eight to 20, 37, 38 and 39. UBS’s lease was set to expire in 2020. The building, which RXR bought from a partnership between AXA Financial and JPMorgan Asset Management, is nearly [...]
By Letters to the Editor The Glen Cove Chamber of Commerce formally announces its support of the Garvies Point Waterfront Project. The project is a collaborative effort between the City of Glen Cove (including the City Council, the Planning Board, CDA, IDA) and RXR Glen Isle Partners. “The waterfront reflects the character of our community while providing significant and lasting economic benefits.” The Chamber’s Board of Directors is pleased to support the project as it aligns with the Chamber’s mission of enhancing the health and profitability of area businesses. The Chamber [...]
RXR's operating platform manages 89 commercial real estate properties and investments comprising approximately 23.6 million square feet with an aggregate gross asset value of approximately $13.2 billion as of March 31, 2016. In addition, RXR has a residential development pipeline of approximately 3,000 units.