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RXR Scores 99-Year Triple-Net on 75 Rock

NEW YORK CITY-The new leasehold owner plans to renovate and reposition the 33-story tower, the newest in the Rockefeller Center complex.

By Paul Bubny | Updated on January 24, 2013

NEW YORK CITY-Continuing its push into Manhattan, Long Island-based RXR Realty said Thursday it had acquired a 99-year triple-net lease for 75 Rockefeller Plaza with an eye toward repositioning the 630,000-square-foot office tower. Financial terms were not disclosed.

An RXR spokesman declined to comment on terms of the deal. Published reports last fall said bidding on a leasehold of the 33-story tower had reached about $17 million per year as RXR became the front runner, an amount that would put the value of the deal at north of $1.5 billion over the course of the lease.

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