RXR Selling Stake in 61 Broadway to Overseas Buyer at $440M Valuation
By Lauren Elkies Schram December 4, 2015 5:32 pm
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RXR Realty, which bought 61 Broadway for $330 million in May 2014, has gone into contract to sell a 49 percent interest in the Financial District building at a $440 million valuation, sources with knowledge of the deal told Commercial Observer. The buyer is an off-shore investor.
CO first reported in October when RXR put the 33-story, 790,000-square-foot office building between Rector and Morris Streets on the market with JLL. Since 2008, the building has undergone more than $13 million in capital improvements including upgraded elevators, bathrooms, HVAC and common corridors.
JLL brokers Scott Latham, Richard Baxter, Anthony Ledesma, Stephen Shapiro, Jon Caplan and Yoron Cohen negotiated the contract, which was signed this week.
Meanwhile, The Real Deal reported yesterday that RXR is close to signing a $1.65 billion deal to buy the 39-story office tower at 1285 Avenue of the Americas.
Calls to RXR were not answered. A spokesman for JLL didn’t immediately respond to a request for comment.
