Brisk Leasing Activity Inspired by Striking Upgrades

White Plains, NY – December 1, 2008 –RXR Realty LLC (“RXR”), the leading real estate operating company in the New York Tri-State region, has announced active leasing at its Tarrytown Corporate Center property. The recent transactions include a major new lease agreement at the flagship 660 White Plains Road as well as renewals, reflecting RXR’s success in attracting and retaining the region’s leading businesses. This activity underscores RXR’s unwavering commitment to providing tenants with superior amenities and an extraordinary level of service.

Excellence shines through at the seven-building, 975,779 square foot Tarrytown Corporate Center as RXR presses ahead with a multitude of property enhancements that maximize tenant services. The prestigious and impeccably maintained corporate campus has undergone a multimillion dollar repositioning that confirms the Company’s market position as Westchester’s “Landlord of Choice.” The enhancements at the beautifully landscaped property also serve to reinforce the desirability of Tarrytown Corporate Center, along with its easily accessible, central location along the I-287 and Route 119 corridors.

Among the popular amenities spurring tenant excitement are the upgrades at 660 White Plains Road, which include an aesthetically appealing new lobby that features a classic, sophisticated motif with an architecturally striking cherry wood and stone concierge desk as its focal point. From this dramatic venue, a courteous attendant greets and guides tenants and visitors, setting the tone for a positive workplace experience. Special meeting areas offer plush leather seating, decorative accent lighting and carpeting, and LCD television screens posting up-to-the-minute world news, contributing to the sophisticated ambiance.

“We remain focused on providing our tenants with the optimal environment and services to help them grow and meet their financial goals,” said Senior Vice President Joel Cardillo. “With its dedication to comfort and efficiency, Tarrytown Corporate Center fosters an atmosphere for success.”

RXR s transaction highlights at the Tarrytown Corporate Center include:

• Allstate Corp.: The nation’s largest publicly held personal lines insurer joined the tenant roster at 660 White Plains Road, leasing 15,470 square feet for its business. Al Gutierrez and Tim Reynolds of CB Richard Ellis represented the tenant in this long-term lease agreement.
• ENT & Allergy Associates, L.P.: The largest ENT, allergy and audiology practice in the Tri-State area, signed an early renewal of its long-term lease for 13,785 square feet at 560 White Plains Road. Laurence London of Rakow Commercial represented the tenant in this transaction.
• Highbridge Financial Group, Inc.: The comprehensive financial planning and wealth management firm renewed its lease for 2,060 square feet. Stuart Kolbert of Goldschmidt & Associates represented the tenant in this transaction.
• Strategic Vision Inc.: The public relations firm signed a new long-term lease for 1,422 square feet. Ann Silver of Prudential Rand represented the tenant in the transaction.
• Linde Holdings LLC: The company renewed its lease for 1,002 square feet for its executive and administrative offices.

About RXR
RXR Realty LLC, (“RXR”) is a fully integrated private real estate company with expertise in investment management, development, design, construction, leasing, financing and asset management.

RXR’s core growth strategy is focused on the markets surrounding New York City. The Company is one of the largest owners, managers, and developers in the New York Tri-State Area with approximately $3.5 billion in assets, with over 70 properties comprised of approximately 11.2 million square feet, and approximately $3 billion in development projects. RXR, along with predecessor entities, has owned, managed and developed approximately $6 billion in assets encompassing over 20 million square feet. For more information on RXR, please visit the Company’s web site at www.rxrrealty.com.