Not surprisingly, the Harlem space, in a building owned by the Cogswell Realty Group, is smaller and comes in well under the previous price tag. One web report values the 7,000 sf at just over $200,000.

But the Harlem site was not without its own controversy, and Mayor Rudolph Giuliani balked at the idea that Clinton's move-in would displace the Administration for Children's Services. According to reports, a compromise has been reached that would move the administration offices to lower floors and save the city an estimated $150,000.

While talk about a Harlem set-up surfaced only last week, Rep. Charles Rangel (D-Harlem) said that he had been lobbying for Clinton to consider Harlem well before he left office. The property is located in an empowerment zone, which would apparently make Clinton eligible for federal funding and tax breaks if he were to lease there. <p<According to the GSA's web site, the Former Presidents Act of Aug. 25, 1958 gives ex-presidents a pension, which as of December 2000 was $157,000. Payment began for Clinton on January 20, 2001. The Secretary of Treasury is responsible for the monthly payments and for six months after Clinton's term expired, as per protocol, he is provided with a GSA staff. During the same period, also, the GSA provides "office space, furnishings and equipment, at such place in the United States as the former president designates." Public Law 92-313 further requires "agencies to reimburse GSA at rates approximating commercial rates for such space and services unless GSA waives such charges as unfeasible or impractical."

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John Salustri

John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.