This content is from: Innovation

Lehman Plans NY Tower Stake Sale

The estate of Lehman Brothers is seeking to sell its stake in the former International Toy Center building in New York.

The estate of Lehman Brothers is seeking to sell its stake in the former International Toy Center building in New York, The Wall Street Journal reports. The failed lender partnered with L&L Holding in May 2007 to pay $480 million for the tower.

Lehman Brothers has appointed Eastdil Secured to market its stake. The building, which used to primarily house toy firms, manufacturers and showrooms, is currently more than 80% leased.

Click here for the story from The Wall Street Journal.

Related Content