RXR Accuses Worldwide Plaza Owner Of Bait-And-Switch

Law360, New York (October 16, 2013, 6:50 PM EDT) -- RXR Realty sued the owners of Manhattan's One Worldwide Plaza in state court Tuesday, alleging it violated an agreement for RXR to acquire a large stake in the property by striking a deal to sell the stake to American Realty Capital Properties Inc. instead.

RXR had agreed to buy a 48.9 percent interest in the iconic tower at 825 Eighth Ave. from owner George Comfort & Sons in May, with the option to purchase the entire ownership for a total of $1.2 billion, according to the...
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