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Insignia Sells Trophy Seagram Building

NEW YORK CITY-Insignia/ESG has been handling the sale of the landmark Seagram building on Park Avenue since Teachers Insurance and Annuity Association put it on the block. Now word has it that they've nailed a $375-million deal with Aby Rosen and Michael Fuchs.

By Amy Vaughn | Updated on October 12, 2000

NEW YORK CITY-Insignia/ESG lists, among other things, investment properties for sale throughout the nation on its Web site. By selecting the name and address of any one of the numerous properties on the list, one can find out who the Insignia brokers are managing the deal, the square footage or acreage, the asking price and the type of property it is. One building notably not on the list that has been a high-profile deal for the company is the Seagram building on Park Avenue in Manhattan.

While a spokesperson for Insignia declined to confirm details of the deal yet, published accounts suggest the price tag was in excess of $375 million and that the buyers are the German developer duo Aby Rosen and Michael Fuchs. Rosen and Fuchs formed RFR Holding after emigrating here in the 1980s, and it is through this company, the same one that now owns almost $2 billion worth of Manhattan real estate, that they have purchased the Seagram building.

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