By The Leader, The North Shore’ Leading Weekly The $1 billion vision to restore 56 acres of Glen Cove waterfront to productive use for the community is one big step closer to becoming a reality. The Industrial Development Agency (IDA) and local Economic Development Corporation on June 30th voted to approve an application by RXR Realty to fund the transformation of 28 acres of that 56 acre previously blighted industrial land for public use with public parks, esplanades and other amenities proposed for Garvies Point. “Today is a great day for Glen Cove, and another important milestone [...]
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.