Lehman Brothers | The Real Deal New York

The Real Deal New York

trd topics
X


NAME


EMAIL


SUGGESTED
UPDATE


captcha

Please type the words that appear above
Than click SUBMIT
Lehman Brothers
Lehman Brothers
Lehman Brothers was one of the nations largest banks until its collapse in September 2008, which triggered the Great Recession. Once referred to by The New York Times as the real estate ATM, the Manhattan-based firm that dated to the mid-19th century was before its demise one of the most active players in the New Yorkand nationalproperty market. Lehman partnered with Tishman Speyer on its $22.2 billion takeover of apartment behemoth Archstone-Smith in 2007. Before that, its borrowers included Steven Witkoff on the Woolworth Building in 1998 and Aby Rosen and Michael Fuchs on both Lever House and the Seagram Building. The bank also lent heavily in the equally doomed subprime-mortgage market. Even after its 2008 collapse, Lehman continued to haunt New York real estate, as it divested itself of holdings and left other institutions skittish about lending too generously. The firm was led by chairman and CEO Dick Fuld when it went out of business. -TA
4
CANCEL
Subscribe to download data from The Real Deal's research site.
WHY SUBSCRIBE? SUBSCRIBE

CANCEL
To register, please enter your email and choose a password with at least six characters.

OLYMPUS DIGITAL CAMERA
05/06/16
Brookfield Property Partners completed $2 billion in refinancings in the first quarter, including a $900 million deal to refinance 225 Liberty Street in Lower Manhattan,...
111-West-57-feature
05/03/16
Who really owns the city’s biggest development projects? It’s a question that has stumped industry observers for years, as investors typically operate from behind LLCs...
abandoned condos feature
04/26/16
The best-laid schemes of mice and developers oft go awry. Yesterday, The Real Deal exclusively reported the Chetrit Group sold the Sony Building – the...
064_Judges_FINAL.indd
04/25/16
From the April issue: When a New York real estate deal goes south or a partnership sours, chances are good that someone is going to...
David-Marx-Hudson-Yards-FB
04/18/16
Hotelier David Marx unveiled new renderings for his latest Hudson Yards project, which will fly Starwood Hotels & Resorts Worldwide’s Aloft flag when it opens...
ryan-serhant
04/17/16
These days, you can catch Ryan Serhant as one of three real estate agents selling multimillion-dollar homes on Bravo’s hit show “Million Dollar Listing New...
25 Broad Street 1177 Sixth Avenue Jack Ehnes thumb
04/13/16
The California State Teachers’ Retirement System is looking to sell U.S. properties and buy European ones. Tags: calstrs ...
powers fb
04/05/16
Brenda Powers has landed at Town Residential after having allegedly been ousted from Compass, a source told The Real Deal. When contacted by TRD, Powers declined to...
Clark One New York small
03/17/16
Brookfield Office Properties refinanced its office tower One New York Plaza with a $750 million loan from Wells Fargo, according to public records filed with...
Undated photo: The official photograph of UAE President Sheikh Khalifa bin Zayed Al Nahyan, March 11, 2008. Photo by WAM *** Local Caption *** «·’Ê—… «·—”„Ì… ··‘ÌŒ Œ·Ì›… »‰ “«Ìœ ¬· ‰ÂÌ«‰ —∆Ì” œÊ·… «·«„«—«  «·⁄—»Ì… «·„ Õœ… ‹ „«—” ‹11‹2008‹ «·’Ê—…  „‰ Ê«„
11/25/15
The Abu Dhabi Investment Authority, the nation’s sovereign wealth fund, has added to its portfolio of Manhattan hotels. Tags: Abu Dhabi Investment Authority, blackstone group...
086_BiggestLenders_FINAL.indd
11/18/15
From the November issue: Seven years after the global financial crisis, New York’s real estate lending market is back with a vengeance. But much has...
SamZellPartyFbox
10/26/15
In 2007, Sam Zell struck a deal to sell his entire office-building portfolio to the Blackstone Group for $39 billion, then the biggest leveraged-buyout deal ever....
gladstone-and-wife-559x416
10/23/15
UPDATED, 7:40 p.m., Oct. 23: Robert Gladstone’s Madison Equities, in partnership with the Italy-based Pizzarotti Group, is planning a 65-story condo tower on a vacant...
Brooklyn_Bridge_by_David_Shankbonefeatured
10/08/15
The average Brooklyn pad cost nearly $860,000 during the third quarter – setting yet another price record and quashing any lingering notion of the borough’s...
Bag
09/02/15
From the September issue: On Oct. 3, 2008, Daniel Herzberg, a British expatriate in Spain, called his bank, the Icelandic Landsbanki, to ask if his money...
Screen Shot 2015-08-26 at 11.01.46 AM
08/26/15
When General Electric executives phoned Blackstone Group’s Lexington Avenue office in March to propose one of the largest real estate deals in U.S. history, Kenneth...
swig-pic-final feat
08/11/15
Despite overcoming many obstacles after the financial crisis, Kent Swig has not entirely escaped his past. American Express Bank sued the prominent developer, owner of Swig...
Gladstone 45 Broad
08/03/15
UPDATED, 4:55 p.m., August 3: Robert Gladstone’s Madison Equities is in contract to purchase a Lower Manhattan development site at 45 Broad Street, which could...
Harborside Mitch Rudin
07/23/15
Investment bank Brown Brothers Harriman inked an 11-year lease for almost 115,000 square feet at Mack-Cali Realty’s Harborside Plaza 5 along the Jersey City waterfront....
sake 1-
06/10/15
L&L Holding Company and partners kicked off construction on their full-block spec office tower at 425 Park Avenue Wednesday morning with an invigorating celebration involving...
retail winnersFB
06/10/15
The Cushman and Wakefield brokers who spent six years working to land a tenant for the Wildenstein townhouse on the Upper East Side earned themselves...
Harry Macklowe Liar's Ball J.C. Chandor-
06/09/15
“The Liar’s Ball,” a nonfiction book by investigative reporter Vicky Ward that tracks Harry Macklowe’s machinations while redeveloping the GM Building in the 1990s and 2000s, is...
Rudin
06/03/15
Mack-Cali Realty Corporation tapped former top Brookfield executive Mitch Rudin as its new CEO, the real estate investment trust announced today. Rudin, who was the...
Central-Synagogue-thumb
06/01/15
Central Synagogue at 652 Lexington Avenue Central Synagogue is forced to close due to bedbugs. Three Walker Tower pads list for combined $60 million. ...
Nicholas-Bienstock-SAVANNA
05/20/15
Cornerstone Real Estate Advisers is buying the 29-story office tower at 100 Wall Street from Savanna for $275 million. Tags: 100 wall street, savanna ...
To see all, go to Advanced Search
  • Event Sales
  • Building Name 448-452 11th Avenue
  • Address 452 11th Avenue
  • Neighborhood Hudson Yards
  • Borough Manhattan
  • Price $ 35,000,000
notes
The development site sold for $35 million.
  • Event Sales
  • Address 448 11th Avenue
  • Neighborhood Hudson Yards
  • Borough Manhattan
  • Price $ 30,000,000
notes
The property sold for about $30 million, Crain's reported.
  • Event Sales
  • Address 237 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 1
  • Price $ 810,000,000
notes
The property sold for $810 million, Crain's reported. The buyer plans to renovate the building.
  • Event Sales
  • Address 325 West Broadway
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 61,416
  • Price $ 38,350,000
notes
The development site sold for $38.35 million. The current plan for the development, to be located at 325-329 West Broadway and 23-25 Wooster Street, calls for a two-building, 24-unit condo with ground-floor retail.
  • Event Office Leasing
  • Address 100 Wall Street
  • Neighborhood Seaport
  • Borough Manhattan
  • Square feet 19,647
notes
The tenant signed a lease renewal. James Giddens was selected by the Securities Investor Protection and appointed by the U.S. District Court for the Southern District of New York to handle the liquidation of Lehman Brothers Inc. in 2008.
  • Event Sales
  • Address 1107 Broadway
  • Neighborhood #VALUE!
  • Borough Manhattan
  • Price $ 191,000,000
notes
The purchase of the building, a part of the former International Toy Center, closed for $191 million, following a bankruptcy auction in June. The new ownership is planning a $290 million condo conversion, featuring 145 units, in collaboration with a Morgan Stanley real estate fund.
  • Event Office Leasing
  • Address 1271 Sixth Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 150,000
notes
The bankrupt financial services entity signed a new sublease for floors 35, 38 and 40, and parts of the 39th and 46th floors. Lehman previously cancelled a sublease it had signed in 2007 for 500,000 square feet at the building.
  • Event Office Leasing
  • Address 1271 Sixth Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 400,000
notes
Lehman Brothers signed for the space under a sublease from Time Inc. in a long-anticipated deal.
  • Event Sales
  • Address 545 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 140,000
  • Publication Date 12/01/2006
  • Event Date 10/22/2006
  • Party 1 Marx Realty and Improvement Company
  • Party 1 Brokerage CBRE
  • Party 1 Broker William Shanahan, John Powers
  • Party 2 LCOR, Lehman Brothers, Blackrock
notes
A 75-year ground lease was structured for the vacant building. LCOR and its partners intend to undertake a gut renovation of the property, with construction expected to begin in early 2007. Occupancy is slated for spring 2008. Price n/a.
  • Event Sales
  • Address 425 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
notes
The 85-year ground lease was sold. Price n/a.
  • Event Sales
  • Address 1211 Sixth Avenue
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 2
  • Price $ 1,500,000,000
  • Price per foot $ 800.00
notes
The 45-story office tower, which occupies the entire block between 47th and 48th streets, sold for approximately $1.5 billion, or $800 per square foot. Asking rents in the building, which is 53 percent leased to News Corp. and 13 percent leased to law firm Ropes & Gray, are rumored to be $60 to $90 per square foot. Jamestown, which acquired the property in 1999 for $600 million, will recognize a gain of nearly $1 billon on the deal.
  • Event Sales
  • Building Name The Bertelsmann building
  • Address 1540 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 1
  • Price $ 560,000,000
  • Price per foot $ 745.00
notes
The building, primarily tenanted by Viacom and Bertelsmann, is being sold for $820 million, or $745 per square foot. The acquisition will occur in two parts. Equity Office Properties and Lehman Brothers will acquire the 900,000-square-foot office section, while Vornado will acquire the retail components (see below). The office section sold for approximately $560 million, or $622 per square foot. The building was acquired by the Paramount-Principal joint venture in mid-2004 for approximately $420 million, which equates to a profit of $400 million.
  • Event Office Leasing
  • Address 1301 Sixth Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 160,000
notes
Investment bank will be expanding in the building. It had expanded by 90,000 square feet during 2005.
  • Event Retail Leasing
  • Building Name Lehman Brothers Building
  • Address 745 7th Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,000
notes
Chocolatier takes corner retail space for 10 years
  • Event Retail Leasing
  • Address 745 Seventh Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 3,200
notes
10-year lease for English clothing Company's second NYC store
  • Event Retail Leasing
  • Address 745 Seventh Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,000
notes
High-end chocolatier takes space
  • Event Sales
  • Building Name Rihga Royal
  • Address 151 West 54th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 183,000,000
notes
$40M in renovations planned
  • Event Sales
  • Building Name Park Central Hotel
  • Address 870 7th Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 200,000,000
  • Publication Date 03/01/2005
  • Event Date 01/20/2005
  • Party 1 Lehman Brothers
  • Party 1 Brokerage Sonnenblick-Goldman
  • Party 1 Broker Mark Gordon, Svetlin Ganchev, Terry Hess
  • Party 2 Highgate Holdings, Goldman Sachs partnership
notes
[EMPTY]
  • Event Office Leasing
  • Address 1301 Sixth Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 306,700
  • Publication Date 02/01/2005
  • Event Date 12/23/2004
  • Party 1 Equity Office
  • Party 1 Brokerage in-house
  • Party 1 Broker Brett Greenberg
  • Party 2 Lehman Brothers
  • Party 2 Brokerage CBRE
  • Party 2 Broker Robert Alexander, Matt Geoghegan
notes
Financial services firm takes space
  • Event Retail Leasing
  • Address 745 Seventh Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 4,100
notes
Athletic shoe store to open flagship location in mid-January
  • Event Sales
  • Building Name Park Central Hotel
  • Address 870 Seventh Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Publication Date 12/01/2004
  • Event Date 10/22/2004
  • Party 1 Lehman Brothers
  • Party 1 Brokerage Sonnenblick-Goldman
  • Party 2 Highgate Holdings
notes
Investment firm signed letter of intent to purchase hotel
Manhattan, 10036
Jamestown Properties
Jamestown Properties One Times Square, which is best known as the home of...
Manhattan, 10019
Solil Management|Blackstone Group
The 575,241-square-foot, 54-story building at 151 West 54th Street is home to the...
Manhattan, 10017
RXR Realty
Privately held real estate investment firm RXR Realty acquired the 21-story, 1,243,383-square-foot Class...
Manhattan, 10005
Savanna
The tenants at 100 Wall Street have been among the most money savvy...
office-sharing
In New York City’s shared-office world, there is WeWork and Regus, and then there is everybody else. That’s according to The Real Deal’s ranking this...
062-063 Priciest US homes se FINAL.indd
Manhattan’s priciest residential properties often make national headlines. But news about the priciest homes outside the city often barely register with New York City real...
070 Upper Manhattan se FINAL.indd
An active year for the Upper Manhattan multi-family market was topped off in November by the acquisition of an 84-building portfolio by Brooklyn-based real estate...
114 Jump se FINAL.indd
Local lenders New York Community Bank and Signature Bank finished near the head of the pack in the New York City commercial mortgage market last...
Benjamin Lambert (left), founder and chairman of Eastdil Secured, and companyCEO Roy March in the firm's Midtown headquartersg Google's record $1.8 billion purchase of 111 Eighth...
Source: Information from Cassidy Turley, CBRE, and news sources. Numbers are for portions of building, not entire towers. Three years ago, with the country in the...
New York Office Leasing
Click to enlargeAs everyone knows, the Lehman Brothers bankruptcy and the economic chaos that followed wreaked havoc on the Manhattan commercial market. On the sales...
Cake
Sept. 15, 2008, is seared into many New Yorkers’ memories as the day the investment bank Lehman Brothers collapsed, shredding confidence in the economy and...
New York wasn't the only city in the world to find itself in a tenant's market last year. In fact, global office rents fell by...
From left: Doug Steiner, Don Capoccia, and Daniel Brodsky Fifty-one -- as in 51 percent sold -- has been the magic number for new condos lately....
Until last year, The Real Deal's annual accounting of real estate records was a Mad Libs of giddy peaks: The highest price ever paid for...
rob-geils_-soho-page-44.gif
If imitation is flattery, as the saying goes, Soho, the downtown Manhattan neighborhood that gets its name from its location "South of Houston Street," has admirers far...
55548_commercial_market_report.jpg
The Downtown office market, a hot topic at a major summit held last month on the World Trade Center site, has held up better than the...
Layoffs from the bankruptcy of Lehman Brothers, the sale of Merrill Lynch to Bank of America and the government takeover of American International Group should create another...
Some_landlords_mark.jpg
While it's fairly well known that the market has been showing a decline in taking rents, the bottom line after price negotiations and accounting for concessions, the...
Office_Vacancy_midsize.jpg
Conventional wisdom has predicted that once Wall Street’s troubles manifest themselves in job losses, the office market will begin to feel the heat. And last...
ATLANTA Residential/Commercial Four of the 10 fastest-growing counties in America are in Atlanta’s suburbs, according to a Census Bureau report released last month. Job opportunities...
commercial_market_chart_sept_2007.jpg
Rents up over summer, but possible cracks emerge ...
Michael and Paul Ippolito Executive VPs and Principals, Newmark & Co. --Although the Ippolito brothers, Michael and Paul, joined Newmark at a difficult time, they were rescued...
Downtown slipped into the summer doldrums in July as leasing waned, while Midtown and Midtown South saw similar slow leasing but avoided the spike in...
MENU