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Report: RXR Realty, Walton Street seeking $1.4B for NYC tower


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Report: RXR Realty, Walton Street seeking $1.4B for NYC tower

RXR Realty and Walton Street Capital are looking to sell the 237 Park Ave. building in Midtown Manhattan, N.Y., with an "unofficial price tag" of about $1.4 billion, The Real Deal reported, citing unnamed sources.

The partners received an $850 million refinancing for the 21-story, 1.25 million-square-foot office tower from Morgan Stanley and Société Générale in June 2017.

Private equity firm Walton Street previously attempted to sell its 49% stake in the asset in 2017, the news outlet noted.

RXR and Walton Street bought the building from Lehman Brothers Holdings for $800 million in 2013 and invested $100 million to renovate the property.

A Cushman & Wakefield team is marketing the asset, according to the report.

Tenants at the property include New York-Presbyterian Hospital, which acquired a leasehold condominium interest for $250.8 million in July 2017, taking up 500,000 square feet of office space for 30 years. Other tenants are JPMorgan Chase, advertising agency J. Walter Thompson and the Canadian consulate.

Representatives for RXR and Cushman declined to comment and a Walton Street spokesperson did not respond to requests for comment, the report noted.