Close Stay up-to-date with
Observer.com Newsletters
Sign up for Observer Newsletters!
RSS Feed
The New York Observer

Barclays Taking Lehman Tower in $1.5 B. Deal, SL Green Happy

View Story On One Page View Story On One Page Print This Story Print This Story Share This Story Share This Story
September 17, 2008 | 2:11 p.m
745 Seventh.<br /> (Getty Images.)
745 Seventh.
Getty Images.

Barclays, as part of its acquisition of some Lehman Brothers assets, will take Lehman's headquarters at 745 Seventh Avenue, according to a release issued today:

Barclays has also agreed to acquire Lehman Brothers New York Head Office at 745 Seventh Avenue and two data centres in New Jersey for close to their current market value, estimated at £0.8bn (US$1.5bn). The combined consideration totals some £1.0bn (US$1.75bn).

Greg Hughes, SL Green's chief financial officer, who is, as we write, giving a presentation at the Merrill Lynch Global Real Estate Conference, said the news was a good sign:

Now as we take stock of what happened over the weekend, between Lehman, between Merill, and between AIG, there’s between 5 and 6 million square feet of space that they occupy in midtown, another 6 million downtown, so we’re watching and trying to take stock of what’s going to happen there. Barclay’s buying the Lehman building is some good news this morning, but we think there is going to be downward pressure on the market. It’s tough to think other than that, to think that we have lost 3 of the 5 broker dealers in a six month period of time is stunning.

Post a Comment The Discussion

Uiklyolip

buy propecia - propecia buy zithromax online - zithromax buy xenical online - xenical levitra online - levitra order ultram - ultram buy fioricet - fioricet buy valium - valium order acomplia - acomplia buy prozac - prozac buy ativan online - ativan

Post a Comment
Not a registered user? Register here.
Don't have an Observer.com account? You can use your Facebook account instead.