Although Sen. Hillary Clinton never says she intends to run for president, there are clauses in the 2001 lease for Bill Clinton's offices in Harlem that are said to indicate her presidential ambitions.

According to real estate sources, Cogswell Realty, which owns 55 W. 125th St., is looking to refinance the building. In searching for investors, it must disclose tenants' lease terms. One insider said Clinton has two escape clauses — one, if Hillary runs for the Senate and loses, two, if she runs for president and wins.

"We are in the process of recapitalizing the building and looking at all different options," confirms Cogswell partner Ross Jacobs. "We will figure out some way for investors to get information, but we don't have to reveal information to the press." But Clinton rep Jay Carson maintains that there is no special "out clause." "This is a standard presidential lease put together by the GSA [General Services Administration]. It's a 10-year lease and there's ability to cancel it at three, six and eight years, or upon the death of the president."

Posted by Lawren at November 3, 2005 09:47 AM | Trackbacks (1)

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