RXR Plaza, Uniondale

RXR Plaza, Uniondale Credit: The Spector Group

Bit by bit, or better yet, big building by big building, Long Island commercial landlord Scott Rechler is making his mark on the Big Apple.

Rechler is chief executive of Uniondale-based RXR Corp., and his company has been involved over the years with dozens of deals on Long Island, including a failed attempt with developer Charles Wang to renovate the so-called Nassau Hub.

But he is becoming known as something of a big deal in Manhattan these days. According to real estate industry sources, RXR earlier this week agreed to buy another building, a 40-story office tower at 450 Lexington Ave., owned by Dubai-based Istithmar World Capital. Rechler declined to comment on the deal, and the price was not disclosed.

RXR has gone from holding no properties in Manhattan to holding 8 million square feet of property. In 2007, Rechler's company then, Reckson Associates Realty Corp. of Melville, sold six of its premium Manhattan office buildings to SL Green Realty Corp., the largest owner of office towers in Manhattan.

Rechler then formed RXR, retaining Reckson Plaza and the Omni Building, both in Uniondale. It looked as though Rechler and Manhattan were done.

But hardly. RXR's holdings now include the 2.3-million-square foot Starrett-Lehigh building on West 26th Street and other buildings in midtown.

Though Rechler wouldn't comment on the latest deal, he did say he is not done buying.

"We have a whole list of properties we are constantly looking at," Rechler said.

Steven Spinola, president of the Real Estate Board of New York, said RXR has become a major player in the industry in Manhattan.

"They now have the ability to have a dramatic impact on the office market in New York City," Spinola said.

So is Rechler done with deals on Long Island?

"We look," he said, "but we're more selective" with Long Island properties. "We don't see the same rent growth as we do in Manhattan."