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September 17, 2008
An anchor tenant for Building 1? The search just got tougher
Atlantic Yards Report
The Lehman Brothers meltdown can't be good news for backers of Atlantic Yards, especially since Forest City Ratner is searching for an anchor tenant to begin construction of Building 1, the one office tower planned for now.
From a New York Times article, headlined City and State Brace for Greater Demands on Diminishing Resources:
With the prospect of Lehman’s space going on the market, the likely result will be a drop in rents at some of the city’s premier buildings and fewer new towers going up, said real estate executives, urban planners and government officials. Those that are built will probably be smaller, they said.
Look what the cat draggged in
As chance would have it, the BBC is reporting that Barclays Bank plans to purchase the Lehman Bros. headquarters for $1.5 billion. Yup, that's the same Barclays Bank that signed a $400 million naming-rights deal for the new arena to be built at Bruce Ratner's controversial Atlantic Yards complex. The deal to purchase the building and other Lehman assets would make Barclays the third largest investment bank in the world.
Posted by lumi at September 17, 2008 5:30 AM