RXR Sells Stake in Manhattan’s 61 Broadway
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61 Broadway, New York
New York—RXR Realty has sold a 49 percent stake in 61 Broadway, a 786,594-square-foot renovated office tower in Manhattan, to an affiliate of China Orient Asset Management, for $215.6 million.
JLL secured $290 million in recapitalization financing for the Class A office asset, which is situated in Manhattan’s Financial District. The lending group ofBank of China and SL Green teamed up on the debt.
“It’s a great pre-war office building that is extremely-well located on Broadway, set back from the street, and it has a lot of air and light,” Scott Rechler, RXR chairman & CEO, told Commercial Property Executive. “It’s both iconic and historic looking, which is something that appeals to lovers of New York architecture, but it also has 21st Century efficiency and infrastructure on the floors.”…
