One Investment Management, RXR record transfer valued at $141.5M for 61 Broadway in FiDi

One Investment Management and RXR Realty through the entity RXR 61 Broadway LLC Investor Blocker JV LLC acquired control of the office building (O4) at 61 Broadway in the Financial District, Manhattan, from another RXR Realty entity, RXR 61 Broadway Owner LLC, in a transfer valued for tax purposes at $141.5 million. It’s unclear if that is the value of the equity on top the $475 million in construction and tax equity financing. RXR did not immediately respond to a request for comment.

The parties paid about $4.6 million in transfer taxes.

The deal closed on May 1, 2026 and was recorded on May 8, 2026. The property has 650,740 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $217 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
RXR bought the property on May 23, 2014, for $330 million. In 2023, RXR and prior lender Aareal considered a deed-in-lieu of foreclosure, but that was never consummated.  That default apparently effectively wiped out the stake of its 2016 49% partner, China Orient Asset Management. This new refinance with One Investment Management includes a $420 million construction loan from Apollo and a $55 million equity tax equity investment from JPMorgan Chase, according to the Commercial Observer.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer One Investment Management purchased one property in one transaction for a total of $65 million and has no record it sold any properties over the past 24 months.
The seller RXR Realty purchased nine properties in five transactions for a total of $1.8 billion and sold 12 properties in nine transactions for a total of $1.4 billion over the same time period.

The property

The office building in Financial District has 650,740 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 105 feet and is 202 feet deep with a total lot size of 22,197 square feet. The lot is irregular. The zoning is C5-5 which allows for up to 15 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $106.1 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $3,525 in ECB penalties and $3,525 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on May 12, 2016. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Financial District, The majority, or 74 percent of the 79.9 million square feet of commercial built space are office buildings, with elevator buildings next occupying 15 percent of the space. In sales, Financial District has the 5th highest sale turnover among other neighborhoods in the city with $2.3 billion in sales volume in the last two years. For development, Financial District is the 4th most active neighborhood among other neighborhoods. It had 18.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 23 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the three commercial properties representing 335,184 square feet of the 1,289,010 square feet. The identified owner is Chetrit Organization.
There are no active new building construction projects on this tax block.

The majority, or 76 percent of the 1.3 million square feet of built space are office buildings, with elevator buildings next occupying 24 percent of the space.

The seller

The PincusCo database currently indicates that Rxr Realty owned at least 35 commercial properties with 2,234 residential units in New York City with 13,739,409 square feet and a PincusCo-determined asset value of $8.1 billion. Within the portfolio, the bulk, or 74 percent of the 13,739,409 square feet of built space are office properties, with condo properties next occupying 16 percent of the space. The bulk, or 83 percent of the built space, is in Manhattan, with Brooklyn next at 15 percent of the space.

The buyer

The PincusCo database currently indicates that Rxr Realty owned at least 35 commercial properties with 2,234 residential units in New York City with 13,739,409 square feet and a PincusCo-determined asset value of $8.1 billion. Within the portfolio, the bulk, or 74 percent of the 13,739,409 square feet of built space are office properties, with condo properties next occupying 16 percent of the space. The bulk, or 83 percent of the built space, is in Manhattan, with Brooklyn next at 15 percent of the space.

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