Scott Rechler’s RXR is partnering with Airbnb to convert ten floors of Rockefeller Plazainto about 200 hotel rooms for overnight stays, the WSJ reported. It will be staffed by unionized labor and closely follow city rules to avoid issues that have hampered the startup’s expansion throughout Manhattan.
Dig Deeper: RXR will be responsible for the execution and management of the units, while the Airbnb platform will be used to market and book rooms.
Flashback: RXR signed a 99-year ground lease for the iconic building at 75 Rockefeller Plaza in 2012. Although the firm subsequently leased much of its space to traditional office tenants, it reserved the upper floors for possible hotel use.