The Real Deal New York

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

Company now owns 101 Barclay Street; it previously purchased the ground lease
By Eddie Small | October 01, 2018 05:52PM

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.