Morning Wall Street Meltdown Report: Why Lehman Lost - NBC New York

Morning Wall Street Meltdown Report: Why Lehman Lost

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    Morning Wall Street Meltdown Report: Why Lehman Lost

    While most of the headlines this morning center on the Fed's rescue of insurance giant A.I.G., there are still plenty of real estate tidbits floating around within the dramatic downfall of Lehman Brothers. The Timeslooks at the brazen real estate deals that doomed the investment bank, including the acquisition (with Tishman Speyer) of national apartment portfolio Archstone-Smith (buildings in NYC include Archstone Clinton, Archstone Chelsea, Archstone Murray Hill, 101 West End Avenue and many more), and the bold predictions of rental growth that didn't quite pan out. Meanwhile, Barclays' $1.75 billion deal for a unit of Lehman includes the Midtown headquarters at 745 Seventh Avenue (right) and two Jersey data centers, which the Times reports accounts for $1.5 billion of the deal. A bankruptcy judge must still approve the doings.
    · Risky Real Estate Deals Helped Doom Lehman [NYT]
    · Barclays Reaches $1.75 Billion Deal for a Lehman Unit [NYT]
    · Wall Street Meltdown coverage [Curbed]