Word around the financial houses has made it's way to Bloomberg News who are reporting the former Bank of New York, founded by Alexander Hamilton, is looking to sell their Manhattan HQ and are looking for around 400K sq. ft. of office space in Manhattan or Jersey City to relocate.
Why won't this happen?
"Any attempt to move probably will spark competition among New York landlords, and test New York Mayor-elect Bill de Blasio’s pledge to cut tax breaks and subsidies to big companies, the news service notes."
Why might this happen?
"...A move to Jersey City not only would put it in the company of other financial firms that have relocated major parts of their operations to the so-called Wall Street West, but it also would put it closer to its corporate family. Pershing, a unit of BNY Mellon, has its headquarters right in the heart of downtown Jersey City, at 1 Pershing Plaza.
We here in Jersey City aren't that worried about any deal the incoming NY Mayor may offer, after all this is Jersey City and it's hot hot hot for real estate right now. Jersey City is the logical choice as Wall St. West grows and grows. Bill deBlasio is a poor man's Steve Fulop. There, we said it.
If it helps the Jersey City Desk would like to welcome BNY Mellon to our fair city. You're just in time, Taqueria is going to start delivery.
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