From top: Aby Rosen, Michael Fuchs and the Seagram BuildingAby Rosen and Michael Fuchs, partners at RFR Holdings, have yet to find a buyer for their  49 percent stake in the Seagram Building due to the high asking price, Crain’s reported. The pair has looked to sell its stake since May for $700 million, which amounts to roughly $1,800 per square foot. The record price for an office building was set at 450 Park Avenue in 2007, at $1,585 per square foot.

Though Seagram, located at 375 Park Avenue near 53rd Street, is coveted for its location, its architectural design and its bevvy of elite investment firms paying high rents, Crain’s cites industry sources who say the price would need to be lowered to around $1,200 to $1,500 per square foot, in order for the stake to sell. [more]

Developer Aby Rosen and his home at 3 East 94th Street in Carnegie Hill

A day after he sold off his 400 Park Avenue property to Waterman Interests, developer Aby Rosen has listed his Carnegie Hill house at 3 East 94th Street for $19.9 million, a steep price cut from its original asking price of $29.5 million. Rosen, of RFR Holdings, paid only $8.8 million for the Upper East side home in 2005, before adding a wine cellar, a pool and another $20.7 million to the list price, Curbed reported. But since its first reduction this spring, the price has been steadily declining, to $24.75 million, then $22.9 million, and is now asking only $19.9 million. Rosen’s other home, a mansion at 22 East 71st Street, is off the market entirely, according to the Observer. [Curbed]

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Trevor Davis (center), the old Kean Residence (left) and an early rendering of the proposed development (right)

Davis Development Holdings, led by investor Trevor Davis, is facing a $17 million foreclosure lawsuit from Manhattan-based Ark Real Estate Partners after defaulting on his Upper East Side condominium site at Lexington and 65th Street.

Davis, the former development partner of RFR Holding’s Aby Rosen and Michael Fuchs, missed a $94,800 mortgage payment in October and fell behind on payments to MRC Contracting, according to the suit.

The lender is now demanding a total of $19.5 million, which includes outstanding interest, principal and late charges. The lender said it reserved the right to appoint a receiver to take over the project, according to the suit, filed Oct. 26, in New York State Supreme Court. [more]