The Philip and Carrie Lehman House: The Most Expensive Home Office at $3,000 Per Square Foot

Britney Scott / July 2, 2013

The Philip and Carrie Lehman House has been tagged as the ‘most expensive offices in the world with an extravagant rate of more than $3000.00 per square foot and now this house has been sold to an anonymous buyer.  It is still not confirmed whether the house would continue as an office (as it was renovated in 2005 for that purpose) or if the luxurious property would be given a new purpose.

This house was build for the co-founder and first chairman of the –now-notorious famous Lehman Brothers – Philip Lehman- and is a –storey townhouse made out of limestone that was built in 1899.  In 2005, this historical house at 7 West 54th Street, New York, was then bought by Zimmer Lucas Captial, hedge fund manager, for a whopping 13 million dollars.  Captial gave the house a more modernistic look and renovated it into a very ostentatious office with a new façade and additional glass penthouse.  The interiors of the house were redesigned by roping in the help of the Metropolitan Museum of Art- and thus the house turned into the headquarters of the company.   In May 2012, this house was valued at 65 million dollars, however Carrie Chiang of the Corcoran Group, reduced the price to 49.9 million dollars (25%) seven months back.  All said and done, the house has now been bought by an unknown buyer making it the most expensive contract signed for a townhouse so far in 2013.

The house was originally designed by John Duncan and has a rich legacy of art as the Lehman Brothers had an art collection of over three thousand art pieces and the home gradually developed into a privately assembled family gallery.

The opulent and classic interiors that are reminiscent of the Victorian era along with Renaissance influences have been kept intact along with the new additions in the interiors to make it look like a grand office with a neo-classical appeal.  The penthouse, on the other hand, is entirely a foil to the remaining house as it has entirely distinctive modern interiors.

The townhouse is the priciest sale reported so far this year. Units at 432 Park and One57 have reportedly gone into contract for over $90 million. However, those deals have not been officially listed or recorded with the Real Estate Board of New York, so they have not been counted as formally in contract yet.

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