The Real Deal New York

General Motors may stay at GM Building

July 08, 2009 09:31AM

Even though its lease of 120,000 square feet at 601 Lexington Avenue began June 1, General Motors is in negotiations to renew its lease at Boston Properties’ GM Building instead of moving. The company’s lease for 101,000 square feet at the GM Building, at 767 Fifth Avenue, expires March 31, 2010. Staying at the GM Building would be more cost-effective for General Motors, which could avoid having to renovate the space at 601 Lexington Avenue. Because it is in bankruptcy, General Motors is allowed to reject its leases at any time.

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