Lehman Brothers to shed more Manhattan office space

Lehman Brothers is looking to shed 500,000 square feet of prime office space in Midtown. Lehman, which just announced another $3 billion write down, is subleasing out space to tenants at its trophy site, 399 Park Avenue. The investment bank also reportedly wants to do the same at 605 Third Avenue. And, it is said to be dumping about a quarter of the nearly 400,000 square feet it took at the end of 2006 on Sixth Avenue from Time Inc. Brokers said that Lehman’s offerings come to 560,000 square feet in total.