President Clinton Rumored Near Deal for Carnegie Hall Tower Office Space

NEW YORK CITY-Details are sketchy, but soon-to-be-former presidentBill Clinton is eyeing Midtown Manhattan space for his postpresidential offices, and Carnegie Hall Tower is a front-runner in a smallselection of assets under consideration, a source tells GlobeSt.com.Published reports also had him looking at Rockefeller Center and theGE Building. The President is looking for roughly 8,000 sf, but he’sapparently in no hurry; there’s no apparent deadline forclosing, the insider tells us.

Questions have arisen about the form of payment and the fact that,through taxes, it’s the US citizenry that will be footing the bill. According to one executive close to the deal, the lease set-upis pretty much standard for ex-presidents in that the new office,wherever it ultimately lands, will be a Government ServicesAdministration lease. Comparable space in the market runs from $50 to$70 per sf.