Bank of New York Mellon Corp. is poised to choose between a lower Manhattan skyscraper and a smaller office building in New Jersey for at least 850 employees who would relocate with a sale of the company’s Wall Street headquarters, a person with knowledge of the discussions said.
Brookfield Property Partners LP, the $48 billion business being spun off by its Canadian parent, plans to pursue purchases beyond office and retail, the firm’s past areas of focus, as its access to capital improves.
The first skyscraper at lower Manhattan’s World Trade Center is set to open with two days of ceremonies to mark the renewal of the area after its destruction by terrorists. When the fanfare subsides, the task will be filling the 40 percent of the tower that’s empty.
The drone of generators fills the silence of lower Manhattan on a weekday afternoon. A newsstand is open at the corner of Wall and Water streets, its main customers now cleanup crews rather than bankers, lawyers and other financial district office workers.
Time Inc., the magazine unit soon to be spun off from Time Warner Inc., is considering leaving the Time & Life Building on New York’s Avenue of the Americas and moving its offices to lower Manhattan, three people with knowledge of the company’s plans said.
Deloitte LLP is negotiating with Brookfield Properties Corp. about moving into Merrill Lynch & Co.’s former headquarters building at lower Manhattan’s World Financial Center, two people familiar with the talks said.
Brookfield Office Properties Inc. rose the most in 17 months after the landlord said it is negotiating letters of intent with two potential tenants for space at lower Manhattan’s World Financial Center.