Rithm Capital and DRA Advisors Announce Joint Venture for Ownership of 1301 Avenue of the Americas
Rithm Capital closed a joint venture with a DRA Advisors-managed fund for ownership of 1301 Avenue of the Americas, a fully leased 45-story, 1.7 million-square-foot trophy office tower in Midtown Manhattan. Rithm, through its Elecor Properties platform, retains majority ownership and will operate the building on behalf of the JV; transaction terms were not disclosed.
Key figures
- Dra aum
- $13.8 billion (gross AUM as of June 30, 2026)
- Building sqft
- 1.7 million
- Building floors
- 45
- Ownership status
- Rithm retains majority ownership via Elecor; JV terms not disclosed
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