Although most of the 484,600-square-foot block derives from the occupancy of a single tenant--Grey Global, which is headquartered there--JLL managing director Cynthia Wasserberger tells GlobeSt.com, "We will divide floors and do single, double and multi-floor deals. We will not have an official asking rent at this time." The JLL team will be led by Peter Riguardi, president of the firm's New York office, and includes international director Frank Doyle as well as Wasserberger. The team will work in concert with Michael Lenchner, director of leasing with Sage Realty Corp.

Riguardi says in a release that Grey Global's vacating 777 Third offers "a tremendous opportunity for tenants looking for full floors of modern office space in an architecturally significant building." He adds that 777 Third, built in 1963 by the Kaufman Organization and upgraded over the years, "was designed to provide natural light and spectacular views throughout the building. The property offers a state-of-the-art security system, on-site parking, a concierge-like service and extended HVAC hours, and is centrally located in the Midtown office market near Grand Central Terminal and a number of subway stations."

The parent company of Grey Advertising, Ogilvy & Mather and Mediacom--Grey Global is moving into a 370,000-square-foot space at L&L Acquisitions' 200 Fifth Ave., the former International Toy Center, at year's end. The deal, arranged by CB Richard Ellis, was announced in the fall of 2007.