A Lehman Brothers Founder's Historic Mansion Just Sold As 'Trophy Office Space' For $40 Million

Corcoran

The investment bank called Lehman Brothers may be dead and gone, but the legacy of the Lehman family lives on. The midtown home of Philip Lehman, son of the founder of Lehman brothers, was just sold for $40 million as a "trophy office space", according to The Real Deal.

The gorgeous Beaux-Arts home was commissioned by Philip to be built in 1899 by John Duncan, one of the best known American architects of the 20th century. It was later home to Philip's son Robert, who took over the reins of the company in 1925. Both Philip and Robert were avid art enthusiasts and philanthropists.

According to Corcoran, Robert made the house a gallery that housed the family's famed art collection, which included pieces by Rembrandt, Goya and Renoir. Robert bequeathed the collection to the Metropolitan Museum of Art.

The broker, Paula Del Nunzio told the Wall Street Journal that the building "starts at museum quality and goes far beyond."