RXR and Hudson Bay Capital Sell Flatiron District Commercial Condo to 32BJ Health Fund for $22.1M

RXR and Hudson Realty Capital have sold a commercial condominium at 620 Avenue of the Americas in Manhattan's Flatiron District to the Building Service 32BJ Health Fund for approximately $22.1 million, according to an announcement dated April 9, 2026.

The transaction covers roughly 18,900 total square feet, comprising approximately 14,400 square feet of ground-floor space and about 4,500 square feet of mezzanine space. No cap rate or financing terms were disclosed.

Deal Details: Ground-Floor and Mezzanine Space in the Flatiron District

The Building Service 32BJ Health Fund is expanding its footprint and presence within the building at 620 Avenue of the Americas, according to the announcement. The acquisition of the commercial condo, which includes both ground-floor and mezzanine space, supports that expansion at the Flatiron address.

RXR's Broader Portfolio Activity

According to publicly available information from RXR, the firm has recently led a $500 million recapitalization of 55 Broad Street, an office-to-residential conversion project, and has filed permits for a 95-story tower at 175 Park Avenue.

About the Parties

RXR is a New York-based real estate investment and operating company. Hudson Bay Capital is a New York-based investment firm. The Building Service 32BJ Health Fund provides health benefits to members of 32BJ SEIU. No brokers were identified in connection with the transaction. Terms beyond the purchase price were not disclosed.