Exhibit 99.1

        Globix Completing Sale of Tribeca Building for $60 Million Cash

New York - January 22, 2004 - Globix Corporation, (OTC: GBXX) a leading provider
of managed Internet applications and infrastructure services today announced it
had completed the closing papers for its previously announced sale of its
property located at 415 Greenwich Street in New York City to 415 Greenwich Fee
Owner LLC, a successor in interest to Heritage Partners, for $60 million in
cash. Funding is expected to occur shortly. Net proceeds of the sale are
anticipated to be approximately $49 million. The company expects to use
approximately 90% of these net proceeds to purchase its 11% Senior Notes at face
value plus accrued interest and the remaining portion for working capital. The
company will record a non cash loss of approximately $18 million.

"Selling 415 Greenwich Street will permit Globix to further reduce long-term
debt and will eliminate operating expenses in excess of $1.9 million annually
along with approximately $5 million of interest expense per year", said Pete
Stevenson Globix's CEO. "The completion of this important transaction will come
on the heels of us recently sub-leasing approximately 44,000 square feet of
office space at our 139 Centre Street location in New York. We will have now
finalized the rationalization of our New York City real estate holdings and can
focus completely on our 2004 operating plan."

About Globix:
Globix (http://www.globix.com) is a leading provider of managed Internet
applications and infrastructure services for enterprises. Globix delivers and
supports applications and services via its secure Data Centers, Tier 1 IP
backbone, and content delivery network. Nearly all of its revenue is derived
from the delivery of these services. Through Aptegrity, its managed services
group, Globix provides remote management of custom and off-the-shelf web-based
applications. By managing such complex e-commerce, database, content management
and customer relationship management software for its clients, Globix helps them
to protect Internet revenue streams, reduce technology operating costs and
operating risk, and improve user satisfaction. Globix's clients are companies
that use the Internet to provide business benefits and sustain a competitive
advantage in their markets. Our clients which number approximately 1,400
worldwide, include operating divisions of Fortune 100 companies as well as
mid-sized enterprises in a number of vertical markets including health care,
media and publishing, technology and financial services. Globix and its
subsidiaries have operations in New York, London, Santa Clara and Atlanta.

Risk Factors and Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934. These statements are based
on current information and expectations and are subject to risks and
uncertainties that could cause the company's actual results to differ materially
from those expressed or implied in the forward-looking statements. These risks
and uncertainties include: the company's ability to retain existing customers
and attract new customers; its ability to match its operating cost structure
with revenue to achieve positive cash flow; the sufficiency of existing cash and
cash flow to complete the company's business plan and fund its working capital
requirements; risks associated with making acquisitions; restrictions on our
financial and operating flexibility due to the terms of our existing
indebtedness and our high degree of leverage; the insolvency of vendors and
other parties critical to the company's business; the company's existing debt
obligations and history of operating losses; its ability to integrate, operate
and upgrade or downgrade its network; the company's ability to recruit and
retain qualified personnel needed to staff its operations; potential market or
technological changes that could render the company's products or services
obsolete; changes in the regulatory environment; and other changes that are
discussed in the company's Annual Report on Form 10-K and other documents that
the company files with the Securities and Exchange Commission.

Press Contacts:
Michael van Dijken
212-625-7546
mvandijken@globix.com