BNY Mellon just purchased this FiDi property from the city for $352M

Company now owns 101 Barclay Street; it previously purchased the ground lease

New York /
Oct.October 01, 2018 05:52 PM

101 Barclay Street and BNY Mellon CEO Charles Scharf (Credit: Google Maps and BNY Mellon)

Bank of New York Mellon has purchased 101 Barclay Street in the Financial District for $352 million, according to property records.

The company acquired the ground lease for the building in 2013 for $164.4 million and has now purchased the land outright from the City of New York.

BNY has occupied the office building, also known as 240 Greenwich Street, for more than 30 years, according to a spokesperson. The purchase of the land underneath the tower “demonstrates BNY Mellon’s commitment to New York City as a major employer and taxpayer,” the representative said.

The deal comes not long after BNY Mellon announced that it would relocate employees at Brookfield Place into 101 Barclay, part of a larger effort to reduce the bank’s footprint.

BNY was just four years into a 20-year lease at Brookfield Place.

A representative for City Hall did not immediately respond to a request for comment.


Related Articles

arrow_forward_ios
Nate Paul of World Class Holdings (Facebook/GreatValueStorage, iStock)
Great Value Storage files for bankruptcy to stop foreclosure
Great Value Storage files for bankruptcy to stop foreclosure
JPMorgan CEO Jamie Dimon and 270 Park Avenue (Getty, Google Maps)
JPMorgan Chase will embrace “flexible” design for 270 Park HQ
JPMorgan Chase will embrace “flexible” design for 270 Park HQ
Though some companies have received fat PPP payouts, real estate received just 4.6% of the loans distributed in New York. (iStock)
Real estate receives just 5% of New York’s PPP loans
Real estate receives just 5% of New York’s PPP loans
1135 Lexington Avenue and Nir Meir (Google Maps, iStock)
Judge rules against Nir Meir in HFZ’s $19M default case
Judge rules against Nir Meir in HFZ’s $19M default case
Eric Adams (Getty, iStock/Illustration by Alexis Manrodt for The Real Deal)
Brooklyn developers, lobbyists poured money into Eric Adams nonprofit
Brooklyn developers, lobbyists poured money into Eric Adams nonprofit
The Assemblage occupies the top 13 floors of the building. (Prodigy, Assemblage)
Prodigy-backed co-working facility facing foreclosure
Prodigy-backed co-working facility facing foreclosure
TIG founding principal Elliott Ingerman and the Textile Building at 295 Fifth Avenue (LinkedIn, Google Maps)
Fifth Avenue’s Textile Building to get $350M makeover
Fifth Avenue’s Textile Building to get $350M makeover
(Tropicana Las  Vegas via Facebook, Bally's Corp)
Bally’s buys Las Vegas’ Tropicana casino for $150M
Bally’s buys Las Vegas’ Tropicana casino for $150M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...