RXR has secured a 25-year lease extension with global law firm Davis Polk & Wardwell LLP. Davis Polk will expand its office space at 450 Lexington Avenue by an additional floor, totaling 30,000 square feet. The building’s total area will be over 700,000 square feet, marking the largest lease in New York City in 2023 so far.  

RXR and partners will invest over $300 million in capital improvements, modernizing lobbies, workspaces, and amenities. Renovations will be designed by Gensler, focusing on aesthetic updates and improved functionality. The “Sky Lobby” will receive a complete overhaul, featuring private outdoor terraces and Loggia spaces for Davis Polk.  

William Elder and Andrew Ackerman represented RXR in-house in the transaction, along with a Fried, Frank, Harris, Shriver & Jacobson team led by Valerie Kelly and Neil Hood. CBRE’s Lewis Miller, Andrew Sussman and Munish Viralam represented Davis Polk, along with Scott Newmark of Meister Seelig & Fein.