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RXR buys 49% stake in Manhattan tower that houses Rupert Murdoch’s News Corp.

Investor, majority owner Ivanhoé Cambridge plan US$300 million-plus overhaul
RXR has acquired a 49% stake in 1211 Avenue of the Americas. (Ivanhoé Cambridge)
RXR has acquired a 49% stake in 1211 Avenue of the Americas. (Ivanhoé Cambridge)

Developer RXR Realty has bought a 49% stake in a high-profile Manhattan office tower that houses media mogul Rupert Murdoch’s Fox Corp. and News Corp., adding to its portfolio of properties that also includes the Helmsley Building and 75 Rockefeller Plaza at Rockefeller Center.

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