Scott Rechler Of RXR Realty And Ivanhoé Cambridge Refinances Office At 1211 6th Avenue For $1.035B
1211 6th Avenue
$1,035,000,000
$521/SF
Building Size
1,984,228 SF
Asset Type
Office
Closing
Aug 14, 2025
About this deal
AI
The asset involved in this transaction is an office property located at 1211 6th Avenue in Midtown West, Manhattan, with a total square footage of 1,984,228. The refinance loan amount is $1,035,000,000, facilitated through Berkadia Commercial Mortgage.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,035,000,000
- Lender: Berkadia Commercial Mortgage
- Landlord: Scott Rechler - RXR Realty & Ivanhoé Cambridge
- Loan Type: Refinance
- Date of Closing: August 14, 2025
RXR Realty and Ivanhoé Cambridge executed the refinancing of the property at 1211 Avenue of the Americas through the loan from Series 2015-1211 with Berkadia, marking a noteworthy event in their financial strategy.
On the Map
$1,035,000,000
$521/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93