RXR to Acquire 42% Stake in Two Manhattan Rental Buildings

RXR Realty will reportedly acquire a 42 percent stake in a pair of rental properties constructed by Extell Development. The buildings, 555TEN, at 555 Tenth Avenue and 510 East 14^th Street are in the Manhattan neighborhoods of Hell’s Kitchen and East Village respectively. The transaction that includes 750 units valued the portfolio at approximately $800 million, representing a discount of the pre-pandemic valuation of $1 billion.

Source:    https://therealdeal.com/2021/02/23/extell-sells-stake-in-manhattan-rentals-to-rxr-realty/