The Clinton Foundation's move from 125th Street to downtown was in the news yesterday but the former president's office is actually sticking around. Apparently there is lower rent to be had downtown at 77 Water Street so the nonprofit that has been in Harlem for the past decade will be heading south. There was major news coverage when the former president decided to have his office set up in Harlem back in 2001 and a new lease has now been signed on for another 10 years at 55 West 125th Street. Read more in the New York Times:
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Unless they have a comparable commercial tenant waiting in the wings (which I rather doubt), 55 W 125th would seem to have seriously miscalculated by failing to play ball on rent.
ReplyDeletePerhaps they assumed the Foundation was locked in once GSA signed the lease for Clinton's personal office. Or perhaps the Foundation just needed more space. Either way, it's a shame.