The Real Deal New York

GM may receive incentives to stay at GM

July 14, 2009 02:28PM

After rumors that General Motors was looking to relocate from the 100,000 square feet of office space it currently occupies at the GM Building at 767 Fifth Avenue between 58th and 59th streets, Boston Properties, which owns the building, may now be offering GM incentives to stay. GM, which is currently paying $90 per square foot on a long-term lease which expires next spring, may receive six months of free rent if it stays put, among other concessions from Boston. Other locations that were considered when the company went bankrupt last year included office space at the Citigroup Center a few blocks away. [Post]

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