Thursday, 2 April 2015
Last updated 11 hours ago
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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…