Published On: Tue, Sep 22nd, 2015

RXR seeks $450 Million for 61 Broadway

Scott Rechler's firm bought the tower just 16 months ago for $330 million.

Scott Rechler and RXR realty 61-broadway in the Financial District

 

Scott Rechler bought 61 Broadway in 2014. Now RXR Realty, is shopping Financial District office tower for $450 million.

RXR paid for the 790, 000-square-foot building $330 million to Broad Street Development, Just about 16 months ago.

The Real Deal cited CBRE  that “the decision to sell is partly explained by the steep rise in downtown office rents, which have grown 16 percent on average from last year”.

RXR owns about $10 billion in property in the Tri-State area. In August, it bought the Helmsley Building at 230 Park Avenue for $1.2 billion, along with partner the Blackstone Group. Back in February, Blackstone bought a 50 percent stake in 6 of RXR’s office buildings, paying around $2 billion. [Bloomberg]

 

 

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