Forbes Gets Its Shrink On
January 9, 2010
By: Keith J. Kelly & Catherine Curan


The current Forbes family bean counters should read the clan's magazine a little more -- especially the part about trying to raise cash by selling real estate in the middle of a wicked recession.

Last week, the family behind the fortnightly business magazine sold its 125,000-square foot Greenwich Village headquarters to NYU for a price The Post has learned is in the $60 million range.

That's a lot less than the $140 million that they were hoping to get two years ago when they first put the Fifth Avenue building on the block. Neither party would confirm the selling price. ...

... "Everyone has had to adjust their expectations from the aspirational prices of two years ago," said Woody Heller, managing director of the capital transactional group of New York-based real estate broker, Studley. ...

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