Rosen wants $2,000 psf for Seagram stake

Aby Rosen’s RFR Holding is looking to unload a 49 percent stake in the landmark Seagram Building at more than $2,000 per square foot. According to the Post, the record price per square foot for an office building was set at $1,585 in 2007 with the sale of 450 Park Avenue, and while prices have rebounded somewhat since the real estate crash, such a price is untested in today’s market. “If you want to test the strength of the market, it’s certainly the building with which to do it,” said Woody Heller, head of capital transactions group at Studley, which is not marketing the building. A sale at the price Rosen wants would revalue the 38-story, Mies van der Rohe- and Philip Johnson-designed Seagram Building, at 375 Park Avenue, at over $1.8 billion. Of its 800,000 square feet, 106,000 square feet is currently up for lease. Citibank’s high net worth unit is handling the offering. [Post]