UNLOCK THE POWER OF THE VAULT

NorthStar/RXR New York Metro Real Estate Acquires Manhattan Office Building

January 9, 2017

newsalert

NorthStar/RXR New York Metro Real Estate Acquires Manhattan Office Building

January 9, 2016 | by James Sprow | Blue Vault

On December 29, 2016, NorthStar/RXR New York Metro Real Estate, Inc., a nontraded REIT, through a subsidiary of its operating partnership, completed a $2.5 million follow-on investment, including closing costs, in 1285 Avenue of the Americas, a 1.8 million square foot Class-A office building located in midtown Manhattan. NorthStar/RXR had previously invested $1.9 million, including closing costs, in the property in May 2016 as part of an approximately $1.65 billion transaction sourced by RXR Realty LLC, NorthStar/RXR’s co-sponsor and affiliate of its sub-advisor. NorthStar/RXR funded the follow-on investment using proceeds from its ongoing initial public offering.

The building was originally built in 1960 and is 100% occupied, with anchor tenants including BBDO Worldwide, Paul Weiss Rifkind and UBS AG. 

 

Go Back
Austin Gross
Blue Vault Broker Dealer Educational Summit
February 23, 2019

Blue Vault has been an important partner to Geneos in providing us and our advisors pertinent information about non-traded products and the industry as a whole. The annual BD Summit is a valuable due diligence experience for any broker dealer."