Hudson Bay Capital and RXR have partnered to acquire and recapitalize the 700,000-square-foot building at 620 Sixth Avenue in Manhattan, securing a five-year, $320 million loan from lenders including Goldman Sachs and Blackstone. Previously struggling post-pandemic with high vacancy rates, the joint venture aims to revitalize the property, which RXR has long been involved with. The building is now fully leased for office space, and retail occupancy stands at 70%, with expectations to fill the remaining space in seven months.—
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