Hedge Fund's Offices—World's Most Expensive—Now Just $50M

Dec 18 2012 | 10:38am ET

A New York hedge fund selling the world's most expensive office space has had to cut the asking price by 20%—but that still hasn't knocked it off of its perch.

Zimmer Lucas Capital bought the Beaux Arts townhouse on West 54th Street in 2005 for $13 million; a year later, the hedge fund moved in. But Zimmer Lucas put the five-story mansion, formerly the home of Lehman Brothers co-founder Philip Lehman, on the market in May, seeking $65 million.

But, according to Curbed, you can now have the 1899 landmark, known as the Lehman Art House, for just $49.9 million. That still adds up to more than $3,000 per square foot—almost twice the current Manhattan record for office space.

Your money would get you 16,600 square feet "meticulously restored with the expertise of the Metropolitan Museum of Art"—where Lehman's art collection ended up—but with trading rooms, offices and a new glass penthouse just across the street from the Museum of Modern Art.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR