Orbach and Gotlib buy out Rechler’s stake in Lenox Hill apartment towers
RXR sells stake in luxury Upper East Side towers to Josh Gotlib and Meyer Orbach for $339.5 million, making a 30% profit.
RXR Realty, led by Scott Rechler, has sold its preferred equity position in One East River Place, and One and Two Sutton Place North to Josh Gotlib and Meyer Orbach’s GO Residential Real Estate Investment Trust for $339.5 million. The sale, which closed on July 31, was first reported by PincusCo and recorded in city property records last week.
The trio of luxury towers, located in the Lenox Hill neighborhood of the Upper East Side, was originally purchased by RXR, the Qatar Investment Authority, and Macquarie Capital for $261 million just three years ago. This sale marks a 30% profit for the real estate firm.
"RXR’s sale of its stake in these properties is a testament to our ability to identify and create value through our investment strategy," said RXR CEO Scott Rechler in a statement.
While the sale may seem like a straightforward business transaction, it is worth noting that GO Residential Real Estate Investment Trust is owned by Josh Gotlib and Meyer Orbach, both of whom have ties to the ultra-Orthodox Jewish community in New York City. Rechler is also Jewish, but not ultra-Orthodox.
It is unknown if Rechler's decision to sell to Gotlib and Orbach was influenced by their shared religious background, but it adds an interesting layer of influence to the deal.
https://therealdeal.com/new-york/2025/09/08/orbach-gotlib-buy-rechler-stake-in-lenox-hill-towers/