Teachers Insurance Annuity Association, New York, with $116 billion in assets under management, sold the Seagram Building in Manhattan to RFR Holding. Terms of the deal were not disclosed. The 38-story building, located on Park Avenue, is 99.5% leased. Tenants include the Four Seasons Restaurant. The building, which has been in TIAAs portfolio since 1980, was designed by Ludwig Mies van der Rohe and Philip Johnson.
TIAA manages $40.4 billion in its real estate portfolios.