By Real Estate Weekly
RXR Realty has completed a ground-up gut redevelopment of 75 Rockefeller Plaza.
The landmark tower has been recreated into the most technologically advanced and efficient building within the historic Rockefeller Center district.
RXR spent $150 million to reinvent every aspect of the tower, leaving only the building’s original limestone façade, which was cleaned to its original finish.
Capital improvements include a reconfigured retail space, a modern lobby, multiple terraces; and new heating and cooling systems.
75 Rockefeller Plaza has 623,000 s/f of total rentable space, 40 percent of which is pre-leased to tenants including American Girl, Merrill Lynch and Bank of America. RXR Realty will move its headquarters into the building during 2017.
RXR took control of the post-war Class A building in 2013 when it signed a 99-year, triple-net lease. It was originally constructed in 1947 for Standard Oil Company (ESSO).
The RXR platform manages 61 commercial real estate properties and investments with an aggregate gross asset value of approximately $18.5 billion, comprising approximately 24.4 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 3,700 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.