NEW YORK CITY-Lehman Brothers has appealed to a bankruptcy courtfor its approval to pay $2.5 million and end its leasing agreementwith Related Co. for 85 10th Ave. The firm has a lease deal for59,300 square feet of data center space, which runs till 2013, andit pays $300,000 per month for the space it no longer utilizes.
The proposal for early termination has been agreed by Relatedunder the condition that the tenant finds a replacement for thespace. For the full story, go to New York Post.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
