Sources tellBisnow that Lehman Brothers is near a deal to sell its Bond Building (1400 New York Ave, above) to a high-net-worth investor, and that the 171k SF building could fetch a cap rate of about 5%. Eastdil is repping Lehman in marketing the property, which recently locked up DoJ to a 168k SF lease. But could the Bond Building's sale make waves down the street? (We'd say buildings are like dominoes, but that makes the architects nervous.) One source also reports that Tishman Speyer may soon bring nearby 700 14th St (occupied long-term by law firm Skadden) to market, drawing off interest from the soon-to-close Bond Building sale.
Bond Building Deal Close; Is 700 14th St Next?
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