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Monday, December 16, 2013

BNY Mellon Wants to Sell Wall Street HQ

News summary by MFWire's editors

The exodus of Wall Street firms, from Wall Street, continues.

This time, it's BNY Mellon, which is looking for buyers for its Art Deco headquarters building at One Wall, reports Bloomberg.

The newswire reports that BNY has roughly 1,700 staffers at the 52-story tower, which has about a million square feet of space. Citing sources familiar with the plans, some BNY employers will be moved to the nearby 25-story 101 Barclay tower, also owned by BNY. These sources say that the the firm is looking for new space in lower Manhattan or Jersey City -- roughly 400,000 square feet worth.

A number of firms virtually synonymous with Wall Street in the past are evacuating the area, according to Bloomberg. For example the newswire notes that JP Morgan has agreed to sell One Chase Manhattan Plaza, while Citigroup is looking to consolidate its New York operations in Tribeca. 

Edited by: Tommy Fernandez


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