Spend Like A King: Lehman Art House - World's Most Expensive Office Space

Friday, January 4, 2013

Lehman Art House - World's Most Expensive Office Space

The world’s most expensive office space is Lehman Art House, which has been listed for sale for the price of $49.9 million. This historical limestone mansion was once the home of Philip Lehman, the renowned investment banker and art collector, who co-owns Lehman Brothers. The Lehman Art House was constructed in 1899, by architect John H. Duncan, and can be used as a home-cum-office.

Exterior of Lehman Art House in New York City

Lehman Art House is located on 54th Street in New York City, just across the road from the renowned Museum of Modern Art. It was originally priced at a huge $65 million, but its price has now dropped almost 25 percent, to a price of $49.9 million. Nevertheless, it is still the world’s most expensive office space, with a cost of $3000 per square foot. This price is much higher than the rates for most office spaces in the Manhattan area of New York.

Manhattan luxury office-space at Lehman Art House

The Lehman Art House is spread over an area of 16,676 feet, and is 25 feet wide. It also has 737 square feet of prime outdoor space in Manhattan. Some of the office features of this luxury Manhattan office-space are:

Trading-floor facilities.
A high-speed T1 line for data transfer.
A temperature-controlled server room.

In 2005, the mansion was purchased by an investment house named Zimmer Lucas Capital LLC for $13 million. This investment company did a lot of renovation and expansion work, to turn the mansion into a stylish luxury office space. In 2006, a glass penthouse was added to the Lehman Art House.