NEW YORK CITY—RFR has hired Eastdil Secured to market 757 Third Ave. following the Grand Central District office property’s successful repositioning. The owner expects valuations of more than $800 per square foot on the 500,000-square-foot property from potential buyers among the institutional and international investment communities, a ballpark figure that would value it at upwards of $400 million.

Aby Rosen, RFR’s co-founder and principal, says his company has transformed 757 Third into “a compelling alternative for tenants seeking quality space near Grand Central at competitive prices, and thereby enhanced asset value tremendously. At the same time, there should be further opportunity for new ownership to grow rents as leases roll.” He calls the repositioned tower “an outstanding property that should see significant interest from institutional and sovereign investors.”

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