TH Real Estate puts 730 Third Ave. on the market
The 28-story, 665K sf office tower could fetch as much as $460M
The 665,000-square-foot building between East 45th and East 46th streets is home to TIAA’s office, according to the Commercial Observer, which reported news of the listing.
The financial services organization plans to stay in the building after the sale. An investment sales broker not involved in the property told the CO that the building could trade for more than $600 per square foot, and even as high as $850 per square foot.
That would work out to as much as $462.5 million for the building. TIAA bought the tower in 1973, property records show. Other tenants in the building include Roosevelt Investments, the law firm Tofel & Partners and retailer Men’s Warehouse.
TH Real Estate earlier this year bought a 95 percent interest in a four-building portfolio of industrial properties under development in South Florida.