Fried Frank advised RXR Realty in its acquisition of 450 Lexington Avenue from Istithmar World, a Dubai-based investment firm. Tenants at the 910,473-square-foot building include Warburg Pincus and Davis Polk & Wardwell. The Firm also represented RXR in its acquisition of the mezzanine debt on the building.
RXR Realty is a vertically integrated private real estate company and one of the largest owners, managers, and developers in the New York Tri-State area. Its interests include approximately US$4.7 billion of assets, comprising 106 operating properties containing approximately 18 million square feet.
The Fried Frank team included real estate partners Joshua Mermelstein, Brian Lichter and Harry Silvera; tax partner Brian Kniesly; and executive compensation & employee benefits partner Jeffrey Ross.