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RXR Leads $500M Recap of 55 Broad Conversion

Announced
Real Estate ServicesNew YorkRecapitalisation

Deal Overview

RXR is leading a $500 million recapitalization of 55 Broad Street, a 571-unit office-to-residential conversion project. RXR has entered an agreement to form a joint venture with developers Silverstein Properties and Metro Loft Management.

The article describes RXR’s investment as potentially structured as preferred equity, intended to let owners refinance their construction loan while the tower finishes leasing up. The building was 76% occupied when it entered the market in September. A Newmark team led by Adam Spies and Adam Doneger arranged the deal.

Key Details

Transaction
RXR acquires 55 Broad Street
Deal Size
Over $100M
Reported Value
$500 million

Source

Read full article on therealdeal.com

via The Real Deal — NYC · April 3, 2026

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