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RXR Unveils Redevelopment of 44 Whippany Road

Class A 220,000-Square-Foot Recently Enhanced Property Presents Ideal ‘Flight-to-Quality’ Opportunity to Prospective Tenants RXR Realty, a leading real estate operating and investment company in the New York Tri-State region, recently unveiled the results of an extensive capital improvement effort highlighted by...

Canstruction® Long Island 2011 Competition Held in RXR Plaza

More than 50,000 Cans of Food Donated to Long Island Cares, the Harry Chapin Food Bank. Members of 20 Long Island architectural, engineering, design and construction firms were joined this year by students from two local schools as they competed...

RXR Supports Operation Backpack 2011 For Thousands of NYC’s Homeless Children

RXR Realty’s 1330 Avenue of the Americas was the site for Volunteers of America’s (VOA) OPERATION BACKPACK 2011, their 9th annual drive to collect brand-new backpacks and school supplies for the thousands of children living in New York City shelters....

RXR Acquires 620 Avenue of the Americas

RXR Realty, a leading real estate operating and investment company in the New York Tri-State area, is under contract to acquire a controlling interest in 620 Avenue of the Americas, a trophy 700,000-square-foot property located in the heart of Midtown's Chelsea submarket. Under the terms of the deal, an affiliate of...

Scott Rechler: “The Smartest Guy in the Real Estate Boom”

Crains By Theresa Agovino Last week, RXR Realty Chairman Scott Rechler addressed a group of fellow real estate executives and joked that there were so many familiar faces he felt like it was his bar mitzvah. Chuckles followed his instructions to leave the gift envelopes in the corner. Mr. Rechler certainly isn't hurting for cash. In the past 12 months, RXR has invested more than $3.5 billion in Manhattan real estate, including buying or signing contracts to purchase 4 million square feet of space in four properties. Underpinning the spending spree is a $1 billion-plus fund whose dozen or so investors include the Safra family and Rothschild Realty. “Over the next 24 months, we are going to be very active,” Mr. Rechler told Crain's. “We are making a substantial bet on Manhattan.” That's a switch from four years ago. In January 2007, the then-chairman of Reckson Associates Realty Corp. sold his public company to SL Green Realty Corp. for $6 billion after deciding the market was too frothy. Sure enough, the average price of a Manhattan office tower tumbled 59% between 2007 and 2009. Mr. Rechler may have shown an excellent sense of timing back then, but some real estate executives say RXR is shelling out too much for its recent purchases. They note that rents, while no longer falling, are largely flat. And just like...

How to Time a Return to Manhattan

Before SL Green bought it in 2006, the REIT formerly known as Reckson Associates had a strong presence in the city. After that sale, however, the company, now known as RXR Realty, pulled back from Manhattan and, instead, focused on New Jersey, Westchester and Long Island. But as executive vice president and managing director Bill Elder, 45, tells the story, the group has bounced back to Manhattan in a major way.

RXR Realty bowed out of...

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RXR’s Scott Rechler Played a Perfect Hand

Realty Chairman Scott Rechler may have employed a perfect strategy during the downturn, and he's got the bank balance to prove it -- a $1 billion-plus fund whose investors include Rothchild Realty and the Safira family, according to Crain's. In the last year, RXR has used this fund to invest in over $3.5 billion in Manhattan properties, signing contracts for more than four million square feet of space. The company's...