Citigroup to Leave 399 Park Headquarters, Landlord Says ...
Posted in the Banking Forum
#1 Jan 29, 2014
Read this: Citigroup Inc.(C) is planning to leave its 399 Park Ave. headquarters space when its lease expires in 2017, said Doug Linde, president of Boston Properties Inc.(BXP), the skyscrapers owner.
There is no question that the bank is going to be relocating out of the property, Linde said today on Boston Properties earnings conference call. Citigroup has about 500,000 square feet (46,500 square meters) at the tower, including 350,000 of office space that the Boston-based landlord expects to get back sometime in 2017, he said. The lease also includes retail and concourse space.
That headquarters requirement has hardly been used on a relevant basis in terms of the efficiency of the space for them for a number of years, Linde said.And much of that has been sublet.
It makes you wonder...A revamp and overhaul is in the making!!!
#2 Jan 31, 2014
In the last seven working days, Citibank lost more than $ 20 Billion in equity value...
The Point: It is only the beginning...When the Comptroller of the Currency began its investigation, just wait for another $ 20 B -$ 30 B drop in coming weeks!!!
There will be no stones un-turned!!!
#3 Jan 31, 2014
Any falsified response from Citibank will result criminal charges!
My advice to Citibank: Be extra careful to its written reply..For plenty of evidence have been submitted!
It includes the phone records, A Watch to Ben Bernanke and more!!!
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