By Rebecca Baird-Remba, Commercial Observer At the turn of the last century, the Brooklyn Navy Yard was home to one of the biggest wholesale grocery markets in the world. At Wallabout Market, Brooklynites could buy meat, fish, dairy, produce and other kinds of foodstuffs, which would go onto grocery stores, restaurants and institutions. Across the street, among rows of cold storage warehouses, the Mergenthaler Linotype Company manufactured printing presses in a block-long industrial complex along Hall Street between Flushing and Park Avenues. The Mergenthaler family built the oldest of t [...]
NEW YORK--(BUSINESS WIRE)-- SL Green Realty Corp. (NYSE: SLG), New York City's largest office property owner, and private investment manager, RXR Realty, today announced that they have signed an agreement to acquire a combined 48.7% interest in Worldwide Plaza, a Class A, trophy asset located in Midtown Manhattan. The interest is being sold by New York REIT (NYSE: NYRT), which will continue to own the remaining equity with WWP Sponsor, LLC, its existing partner. The transaction, which is expected to be completed in the fourth quarter of 2017 subject to customary closing conditions, values the [...]
By Ethan Rothstein, Bisnow Scott Rechler does not speak with brash hyperbole, engage in heavy self-promotion or even raise his voice much above a low, measured level — somewhere between a bass and a baritone. But the CEO of New York real estate powerhouse RXR Realty, one of the most powerful figures in the city, is deciding to use that voice to tell people to vote. "I’ve been more vocal than the average citizen in taking [voting] more seriously," he told Bisnow in a phone interview this week. "We can’t just rely on elected officials to solve our issues, we have to be more empowe [...]
The RXR platform manages 69 commercial real estate properties and investments with an aggregate gross asset value of approximately $18.1 billion, comprising approximately 24.6 million square feet of commercial properties, inclusive of a multi-family residential portfolio of approximately 2,600 units under operation or development, and control of development rights for an additional approximately 3,600 multi-family and for sale units in the New York Metropolitan area. Gross asset value compiled by RXR Realty in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.