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Fifth Avenue's Forbes Building Sold to NYU; World Upside-Down

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Well, look at that. Forbes Magazine has found a buyer for its iconic Lower Fifth Avenue headquarters, and that buyer is none other than our old friend NYU, per a slew of press releases that have jarred us out of late-afternoon repose. Recall that Forbes has been looking for a buyer for the place for a few years now and nearly snagged $140 million for it back when breezes blew balmy, but recent rumors said they'd get about half that now. The deal was consummated between the two American institutions without any real estate agent—the nerve—so the price hasn't been revealed, but given Steve Forbes' overly peppy quote—"Selling our building to New York University is gratifying and appropriate"—we're betting dude got screwed. Chin up, Steve. Gotcher back. High five.

As part of the deal, the University has leased the building back to Forbes for the next five years. As for the future use of the place, NYU says they'll figure that out when the magazine moves out. Can froshpersons puking on the original Monopoly board be far behind?
· Forbes HQ May Sell For Less Than Half '07 Price [Curbed]