**RXR Recapitalizes 75 Rockefeller Plaza in $200M Deal with Farallon Capital**
RXR, in partnership with affiliates of hedge fund Farallon Capital Management, L.L.C., has completed the $200 million recapitalization of 75 Rockefeller Plaza, located at 15 W. 51st Street in Midtown Manhattan.
The transaction marks RXR’s seventh recapitalization under its 3R Strategy—focused on resetting basis, restructuring debt, and re-tenanting space. Over the past two years, RXR has recapitalized more than nine million square feet of Class A Manhattan office buildings, totaling $5 billion in value.
“We’ve never wavered in our belief in New York City’s office market, but we’re disciplined about backing the right assets,” said Scott Rechler, Chairman and CEO of RXR. “The recapitalization of 75 Rock reflects our conviction that premier properties in world-class locations will continue to outperform.”
JLL served as the structuring advisor for the transaction, while Newmark acted as RXR’s capital advisor. The 75 Rockefeller Plaza building is currently 95% leased and anchored by Merrill Lynch Wealth Management.
