State Street office tower to test Downtown market

RFR Realty plans to sell 17 State St., the 42-story, 570,000 square foot office tower overlooking Battery Park and New York harbor. Cushman & Wakefield is marketing the building, which it says will attract to to hedge funds, money management firms and Internet companies. Tenants in the tower, built in 1988, include XA Reinsurance and Shareholder Communications Corp. Little space is available. A 20th floor suite has an asking rent of $45 per square foot.