RXR Realty is taking back 226,000 square feet of Tommy Hilfiger’s space in the Starrett-Lehigh building, leaving rival developer RFR Realty off the hook for the lease payments.
The fashion company moved to RFR’s 285 Madison Avenue last year. As part of the deal, Aby Rosen’s RFR agreed to take over its old 300,000-square-foot lease at the Starrett-Lehigh, the Commercial Observer reported. Startups Thinx and Justworks signed subleases for some of the space at 601 West 26th Street.
Now that Scott Rechler’s firm is taking back the space, RFR is off the hook, CO reported. JLL has the assignment to find a new tenant.
RXR bought the 2.3-million-square-foot building for $920 million in 2011. [CO] — Konrad Putzier