Commenting on the purchase, RFR Holdings principal Aby Rosen says, "based on the property's central location and superior design, we believe the building will attract credit-worthy corporate tenants regardless of the ups and down of the real estate market." The firm also owns the nearby Lever House, which it bought two years ago and renovated for multiple tenants. RFR Holdings also owns 16 other office buildings in Manhattan.
TIAA-CREF bought the building, designed by Mies van der Rohe and Philip Johnson, more than 20 years ago for a little over $70 million. The financial services organization has over $290 billion under management, and more than $39 billion in real estate investments.
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