The Lehman Art House at 7 West 54th Street is a trophy property in search of an ego-shelf upon which to sit. It's no longer a domestic residence. A recent top-to-bottom renovation has the landmarked limestone mansion built in 1899 now outfitted for corporate use, with trading rooms and offices. And why spend $65 million on a house in midtown when it doesn't even look onto the park, when you can spend that money over on 57th Street or CPW and hover over Central Park like one is living on Mt. Olympus?
And while it's more business than residence, good luck making an economic rationale for spending $4,000 a square foot on office space, when the current record price for conventional office space in a large building is less than $1,600 a square foot, according to the WSJ. The listing is now public (with the photos above), and the brokerbabble describes how the historic landmark was "meticulously restored with the expertise and cooperation of the Metropolitan Museum of Art alongside a number of skilled artisans and designers." And of course, this is a home/office you'll always be able to resell down the line, to the next buyer in search of a World's #1 Business trophy to put on his mantel.
· 7 West 54th Street [BHS via StreetEasy]
· Record Price Set on 54th [WSJ]