Lehman in talks for 100,000 s/f.Ravenous for expansion space, Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. is considering almost 100,000 s/f at 399 Park Avenue. The investment-banking firm is said to be in talks to take the building's fourth floor, which has a massive 96,000 s/f floorplate that would be ideal for a trading floor. The space is being subleased by law firm, Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason , who left the building for a 200,000 s/f lease on floors 45 through 50 in The New York Times Building The New York Times Building is a skyscraper on the west side of Midtown Manhattan, New York that was completed in 2007. Its chief tenant is The New York Times Company, publisher of the The New York Times, The Boston Globe, the International Herald Tribune in August. The sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. extends until 2017 and has asking rents of $90 per s/f, an astronomical rate for space so low in a building but in line with the kind of premium that a floorplate of such rare size is expected to command. The space would be in addition to a separate expansion that Lehman is negotiating at 1271 Avenue of the Americas. There, the firm is considering a 400,000 s/f sublease at the top of the building being offered by Time Inc. with rents in the $70s per s/f. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion