Canucks buy Aby Rosen’s 757 Third Ave for $360M

RFR Realty bought the tower in 1999 for $103 million

From left: 757 Third Avenue and Aby Rosen
From left: 757 Third Avenue and Aby Rosen

Aby Rosen’s RFR Realty is selling a 27-story office building at 757 Third Avenue to Canadian real estate giant Bentall Kennedy for $360 million.

RFR bought the property, at Third Avenue and East 47th Street, for $103 million from Emmes & Co. in 1999, according to the Wall Street Journal. Rosen, who put the property up for sale in December, has invested more than $20 million on renovations over the last year. Eastdil Secured’s Douglas Harmon, Adam Spies and Kevin Donner marketed the building.

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CVS Health rents roughly 12,000 square feet in the building and tax firm Grant Thornton inked a lease for roughly 137,000 square feet last year.

The investment signals that demand for Manhattan real estate among foreign investors is strong, the newspaper reported. The Toronto-based firm manages $32.4 billion in properties for roughly 500 institutions around the globe.

Rosen most recently bought a much-coveted building on the corner of Spring Street and the Bowery for $55 million. [WSJ, 1st] — Claire Moses