Lehman Brothers Completes Sale of 237 Park Avenue
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
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
Lehman Brothers Holdings Inc.
Kimberly Macleod, 646-285-9215
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