The Real Deal New York

Aby Rosen puts 757 Third Ave. on the block

RFR Realty expecting to get $800 per square foot for 500K sf Midtown office tower

December 23, 2014 01:13PM

From left: 757 Third Avenue and Aby Rosen

From left: 757 Third Avenue and Aby Rosen

Aby Rosen’s RFR Realty is selling 757 Third Avenue.

Rosen has said that his firm transformed the 500,000-square-foot office tower into a “compelling alternative for tenants seeking quality space near Grand Central,” according to GlobeSt.com. Rosen expects to get close to $800 per square foot for the building, which would work out to around $400 million. Eastdil Secured is marketing the property, according to the website.

RFR bought the tower, which is now 98 percent leased, in 1999 from Emmes & Co. for $102 million. Since 2012, Rosen has spent $21 million on improvements on the 27-story tower.

Among the building’s tenants are CVS Health, which recently signed up for more than 12,000 square feet, as well as Grant Thornton, which took almost 137,000 square feet earlier this year. [GlobeSt] — Claire Moses

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