At $65 Million, This Historic Townhouse Could Be New York's New Priciest Office Building

Lehman house w 54th street7 W. 54th Street.

Photo: Wikimedia Commons

A Beaux-Arts mansion that was once home to the former head of Lehman Brothers has hit the market for $65 million as a trophy office building, according to The Wall Street Journal.If the building sells for anywhere near the nearly $4,000-a-square-foot asking price, it will blow away the Manhattan record for office space, which is currently around $1,600 per square foot.

The home-turned-office is at 7 W. 54th St., across the street from the Museum of Modern Art. Built in 1899, the mansion was the home of Philip Lehman, an art collector and former head of Lehman Brothers.

Philip’s son, Robert, later lived in the home and donated the art inside to the Metropolitan Museum of Art.

In 2005, an investment group bought the property and began a $15 million renovation to turn the home into office space.

According to the WSJ, “one commercial broker said that in the current political climate some hedge funds might not want the publicity of spending so much money for a prestige office.”

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