NYC
11/08/2010 09:11 am ET Updated May 25, 2011

Bill Clinton Extends Lease In Harlem For $10,000 Less Per Month

NEW YORK (AP) — Former President Bill Clinton has extended a lease on his office space in Harlem.

According to the U.S. General Services Administration, Clinton signed a lease for another 10 years for the top floors of the 14-story building on West 125th Street in New York City.

The lease was negotiated by the GSA. The rent is paid by taxpayers.

Clinton signed the original lease after leaving the White House.

The William J. Clinton Foundation told the Wall Street Journal in an e-mail that the neighborhood has always fascinated the former president.

The foundation also has offices in the building. That lease is up next summer and the rent is paid by the foundation, not taxpayers.

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The Huffington Post:

The Wall Street Journal points out that Clinton's rent will be $10,000 less per month than his previous rent.

Like most other office markets in the city, Harlem's has been battered by the economic downturn. Annual rent for the space will total about $399,931 during the lease's first five years, according to the General Services Administration. That's approximately $100,000 less annually than the current rent of about $506,777.

Information from: The Wall Street Journal.