Orbach and Gotlib buy out Rechler’s stake in Lenox Hill apartment towers

Scott Rechler’s RXR sold its stake in a trio of Upper East Side luxury towers for about 30 percent more than it invested three years ago. RXR offloaded its preferred equity position in One East River Place, and One and Two Sutton Place North for $339.5 million to Josh Gotlib and Meyer Orbach’s GO Residential Real Estate Investment Trust, filings on the Toronto Stock Exchange show. The sale, which closed on July 31 and was recorded in city property records last week, was first reported by PincusCo. RXR, the Qatar Investment Authority and Macquarie Capital had invested $261 million in […]This article originally appeared on The Real Deal. Click here to read the full story.