RXR Realty Will Set Up Its HQ in Its Own Properties

By Benjamin Mazzara, Bisnow Scott Rechler’s RXR Realty is moving its HQ to one of its own buildings, 75 Rockefeller Plaza, once its five-year, 9k SF lease at 1330 Avenue of the Americas’ fifth floor expires at the end of the year. The landlord will take the entire 15k SF 14th floor for 10 years, paying an asking rent between $113 and $119/SF. No brokers were involved, the Commercial Observer reports. According to RXR Realty NYC EVP William Elder, the move is due to a “space crunch,” the desire to move to its own asset and to show its commitment to the asset. RXR owns a 99-year ground lease on the property, which is 40% pre [...]

RXR's operating platform manages 89 commercial real estate properties and investments comprising approximately 25.2 million square feet with an aggregate gross asset value of approximately $14.7 billion as of June 30, 2016. In addition, RXR has a residential development pipeline of approximately 3,000 units.