Deloitte asks city for $11M in tax credits to stay in NYC

TRD New York /
Jul.July 29, 2010 09:30 AM

World Financial Center

Accounting firm Deloitte — one of the largest tenants on the market
for office space in New York City — has asked the city for at least
$10.65 million in tax credits in exchange for staying on this side of
the Hudson River and increasing its employee count, according to the
Observer. The firm, which is currently headquartered at 1633 Broadway
with offices at 25 Broadway and the World Financial Center, had been considering a move to New Jersey.
If the city doesn’t grant tax exemptions Deloitte wants — the total
sum requested could rise up to $21 million — the firm is threatening
to follow through with that interstate move. Last month, it was
reported that Deloitte was renewing its 400,000-square-foot lease
at Brookfield Properties’ 4 World Financial Center. According to the
firm’s request to the city, it is still in the process of negotiating
that lease, which will house its U.S. headquarters, and could thus back
out if it deems New Jersey a better choice. [NYO]

 

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