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New York

This month in real estate history

The Real Deal looks back at some of New York’s biggest real estate stories

Mayor John Lindsay

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From the February issue: Forty-five years ago this month, major corporations like PepsiCo and the American Can Company announced they would leave Manhattan for suburban campuses, making them among the first in a commercial real estate exodus that battered the city the following decade. PepsiCo, which was based at 500 Park Avenue, relocated to Purchase, in Westchester County, while American Can, which was based at 100 Park Avenue, consolidated its 2,000 employees in Greenwich, Conn. They both relocated a few years after the 1967 announcements. [more]