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RXR takes loss on recently rezoned Clinton Hill site
April 30, 2026
Posted 1 hour ago by
Scott Rechler shepherded a Clinton Hill site through a rezoning process. Then he sold it — at a loss. RXR sold the full-block development site at 47 Hall Street in the Brooklyn neighborhood to Yitzchok Schwartz’s YS Developers for 121.4 million, the Commercial Observer reported. The deal for the vacant 550,000-square-foot site breaks down to approximately 221 per square foot.
It’s unclear how much RXR lost on its investment in the 10-block assemblage, tucked between the Brooklyn-Queens Expressway and Flushing Avenue. But the firm bought the site in 2016 for 161 million, originally intending to convert it into luxury office []This article originally appeared on The Real Deal. Click here to read the full story.
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