We advised RXR on the financing

Davis Polk advised affiliates of RXR Realty LLC in obtaining financing for the prior acquisition of a 3.71-acre parcel of land at 5 Cottage Place and 25 Cottage Place, White Plains, New York, and to construct Phase I of the Hamilton Green project, consisting of one 12-story and one 25-story multifamily building totaling approximately 429,300 net rentable square feet of residential space, 26,565 net rentable square feet of retail space and approximately 510 subterranean parking spaces.

Hamilton Green is a $650 million project to transform the site of the former White Plains Mall into a mixed-use, transit-oriented development. Situated two blocks from the newly renovated White Plains Metro North Train Station and one block from the White Plains central business district, the state-of-the-art residential project will replace the shuttered White Plains Mall with new mixed-income multifamily buildings, which will be composed of market rate and affordable rental units, live/work units and accessible open space, as well as a variety of dining, retail and commercial spaces. Exclusive amenities for all residents will include 24-hour concierge services, resident lounges, co-working spaces, a pool, game rooms, fitness studios, expansive outdoor terraces and a shared public plaza. Phase I of the project is slated for completion in the fall of 2025.

RXR is one of the largest owners, managers and developers in the New York Tri-State area with an operating platform managing 75 commercial real estate properties and investments (including 450 Lexington, New York, New York) comprising approximately 25.5 million square feet with an aggregate gross asset value of approximately $20.5 billion, and a residential development pipeline of approximately 6,100 units under operation or development.

The Davis Polk real estate team included partner Brian S. Lichter and associates Elizabeth A. Case, Gregory D. Crane and Jack Goldbrenner. All members of the Davis Polk team are based in the New York office.