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12/27/11

European Union Close to Deal for $40.5 Million Manhattan Lease

The European Union is negotiating a $40.5 million lease in midtown Manhattan to replace office space it must vacate by late July.

The Brussels-based alliance is close to an agreement for its United Nations delegation to take about 45,000 square feet (4,200 square meters) at 666 Third Ave., known as the Chrysler East tower, said Christopher Matthews, an EU spokesman. The 32- story property and its neighbor, the iconic Chrysler Building, are controlled by Tishman Speyer Properties LP.

The EU seeks to complete the deal so it can move from its current home, two blocks away at 222 E. 41st St., before it has to pay holdover fees, according to two people with knowledge of the plans. Those costs could be substantial, said the people, who asked not to be named because the talks are private
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For more: European Union Close to Deal for $40.5 Million Manhattan Lease

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