Lehman Brothers Completes Sale of 237 Park Avenue Business Wire NEW YORK -- October 28, 2013 An entity controlled by an affiliate of Lehman Brothers Holdings Inc. (“Lehman”) announced today that it has completed the sale of 237 Park Avenue, a 21-story, 1.2 million square foot Class A office building located near Grand Central Terminal in Midtown Manhattan, to affiliates of RXR Realty (“RXR”) and Walton Street Capital, LLC (“Walton Street Capital”). The sale was announced in February. The sale of 237 Park Avenue by Lehman was made possible by several years of restructuring debt secured by the property followed by a mezzanine foreclosure. This sale enabled Lehman to capitalize on strong current demand for commercial real estate in New York City and deliver significant value to its creditors. Contact: Media Contact: Lehman Brothers Holdings Inc. Kimberly Macleod, 646-285-9215 email@example.com
Lehman Brothers Completes Sale of 237 Park Avenue
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