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NEW YORK CITY-After acquiring a controlling stake in 620 Avenue of the Americas last fall, RXR Realty LLC is now looking to take full ownership of the building. Unnamed sources confirm to GlobeSt.com that RXR will be buying up the remaining 45% stake in the 700,000-square-foot Ladies Mile property within the next several weeks.
As GlobeSt.com reported, RXR previously purchased a 55% stake in the building in September 2011 and was afforded the option to acquire the remaining interest in the Flatiron property from joint venture partners the Chetrit Group, YL Real Estate and Bonjour Equities at a later date. At the time, the building was valued under the deal at $500 million.
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