The deal--not yet signed, is exactly the shot in the arm that the Downtown market needs, and insiders are hoping that the vote of confidence will draw other big-ticket tenants back to the area immediately surrounding Ground Zero.
According to the source--the deal is also the latest in a series of twists and turns taken by major Manhattan securities firms in the aftermath of Sept. 11. Lehman Brothers' global headquarters were at One World Financial Center, which was evacuated following the attacks and remains largely vacant. Pre-attack tenants included Dow Jones; Deloitte & Touche and CIBC Oppenheimer. Lehman leases a total of 563,000 sf in the Brookfield Properties building.
In early October, the displaced firm purchased the one-million-sf 745 Seventh Ave. from Morgan Stanley. Built in 1986, One WFC still has three floors held by Lehman. Brookfield is listed as the leasing agent of record.
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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.
