NEW YORK CITY-Lehman Brothers, an investment bank, has agreed to sell ownership stake at 200 Fifth Avenue, the old International Toy Center building, to a real estate fund managed by J.P. Morgan Asset Management. The deal values the property at about $700 million.
Lehman Brothers and L&L Holding Co. purchased the 800,000-square-foot building overlooking Madison Square Park for $480 million in 2007. Lehman, which owns more than 90% stake in the building, hired Eastdil Secured to find a purchaser for its stake. For the full story, go to Wall Street Journal .
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