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 14th 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/