We advised affiliates of RXR Realty on the acquisition of properties

Davis Polk advised affiliates of RXR Realty LLC on the $32.5 million acquisition of properties located at 2413 Third Avenue and 9 Bruckner Boulevard in the Mott Haven neighborhood of the Bronx from affiliates of Somerset Partners LLC. RXR plans to redevelop 2413 Third Avenue into a multi-family project and to develop a commercial project at 9 Bruckner Boulevard. 

RXR is one of the largest owners, managers and developers in the New York Tri-State area with an operating platform managing 75 commercial real estate properties and investments (including 450 Lexington, New York, New York) comprising approximately 25.5 million square feet with an aggregate gross asset value of approximately $20.5 billion and a residential development pipeline of approximately 6,100 units under operation or development.

The Davis Polk real estate team included partner Brian S. Lichter. All members of the Davis Polk team are based in the New York office.

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