NEW YORK CITY-Rockpoint Group wants out of 299 Park Ave., according to reports, and has retained CB Richard Ellis to find a buyer for its stake in the building. Rockpoint bought a 49.5% stake of the $687 million building in early 2010, from UBS, for a reported $150 million in addition to costs associated with assuming part of its $325-million mortgage. UBS continues to maintain its US headquarters in the building.

Now, just over a year later, CBRE brokers Darcy Stacom and Bill Shanahan are taking that stake to market, according to the New York Post. The majority stake in 299 Park Ave. is owned by Fisher Brothers, which is responsible for its operations. Fisher Brothers did not return calls from GlobeSt.com seeking comment, and Stacom and Shanahan could not be reached for comment.

The building is located in Midtown, just north of Grand Central and not far from Penn Station, both major transit hubs. Asking rents in the area have been steadily on the rise. According to a recent CBRE market report, average asking rents for March in Midtown were at $58.14 per square foot, up from $55.44 for March the year previous.