Marketing and communications firm Havas Group is moving down Park Avenue to the Helmsley Building in Midtown East, Commercial Observer has learned.
The multinational advertising and public relations outfit took 21,139 square feet on the entire 23rd floor in the building at 230 Park Avenue, next to Grand Central Terminal, according to landlord RXR. Asking rent for the space was $85 a square foot, and an RXR spokesperson declined to disclose the length of the deal.
Havas will relocate from 277 Park Avenue, which is two blocks north.
Andrew Ackerman and Walter Rooney handled the deal in-house for RXR, along with Scott Klau, Brian Waterman, Erik Harris, Zachary Weil and Cole Gendels of Newmark. Peter Riguardi, Matthew Astrachan and Seth Godnick of JLL represented the tenant. Spokespeople for JLL and Newmark didn’t immediately return requests for comment.
The 35-story Beaux-Arts tower between East 45th and East 46th streets is also home to tenants investment manager Haven Capital, medtech firm Tempus Labs, 5W Public Relations and LexisNexis.
“With updated and enhanced infrastructure and extensive amenities, 230 Park Ave has become one of the most desirable buildings in one of New York’s most accessible locations,” said William Elder, managing director for leasing at RXR.
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RXR Realty has sealed a $105 million debt package to refinance a mixed-use residential tower in New Rochelle, N.Y., Commercial Observer has learned.
Rialto Capital Management provided the loan on RXR’s 360 Huguenot, a 280-unit high-rise apartment building completed in 2019.
JLL Capital Markets’ Mike Tepedino, Michael Gigliotti, Kelly Gaines, Jillian Mariutti, Phil Cadorette and Joy Dracos negotiated the debt.
“RXR has an unparalleled knowledge of the Westchester market, as evidenced by 360 Huguenot’s fast lease-up and market-leading rental rates,” Gigliotti said in a statement. “360 Huguenot has proven to be an exceptionally attractive investment opportunity as it has capitalized on years of pent-up demand for affordable and market-rate housing.”
Located at 360 Huguenot Street, the 28-story tower consists of 252 market-rate units and 28 affordable apartments at up to 80 percent of the area’s median income. Community amenities include a 24/7 concierge, a fitness center with a yoga studio, a private indoor/outdoor lounge for residents and a valet parking garage.The property also features 294 parking spaces and 13,538 square feet of retail space in five ground-floor suites in New Rochelle’s downtown district.
RXR was designated master developer for the City of New Rochelle in 2014, and has spearheaded three multifamily projects in the area since. In addition to 360 Huguenot, RXR recently completed 1 Clinton Park, a 28-story mixed-use tower that includes 352 market-rate apartments and more than 13,000 square feet of retail space. The developer also plans to deliver an adjacent property in 2024 called 2 Clinton Park that will feature a similar 28-story mixed-use tower featuring 390 market-rate apartments.
Officials at Rialto Capital did not immediately return a request for comment. RXR officials declined to comment.
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A joint venture between Blackstone Group and RXR Realty put the 40-story 1330 Avenue of the Americas up for sale, looking to get more than $350 million for it, according to a source with knowledge of the deal.
A group of investors led by RXR first purchased the tower — previously known as the Financial Times Building — for roughly $400 million in 2010 from Canadian lender Otera Capital, after Otera took over the property when Harry Macklowe was forced to auction it off in 2009 following the financial crisis. Macklowe bought it at a much higher price, for $498 million in 2006.
Blackstone purchased a stake in the building, located between West 53rd and 54th streets, in 2015 as part of a deal to buy a roughly 50 percent stake in a portfolio of six New York City office properties from Scott Rechler’s RXR.
The property had the United Kingdom-based Financial Times’ initials plastered on the top floor until 2020, when the publicly traded firm Silvercrest Asset Management replaced the logo with its own. The Emery Roth & Sons-designed property is also home to furniture company Knoll and the Robert Wood Johnson Foundation.
The building is being offered free of any debt, according to the source. RXR paid off a previous $200 million loan from New York Community Bank on the property in 2018 with $285 million from DekaBank, which included a new five-year, $97 million mortgage, Commercial Observer reported at the time.
It’s unclear how much debt is left on the DekaBank loan, but the amount will likely be paid when the tower is sold, according to the source.
Eastdil Secured’s Will Silverman, Gary Phillips and Steven Binswanger are marketing the property for the seller. Eastdil declined to comment on the deal. Blackstone declined to comment and RXR did not immediately respond to a request for comment.
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