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
Freshly CEO Michael Wystrach and 28 East 28th Street (Photos via Twitter; Google Maps)
Freshly inks big lease in NoMad
Freshly inks big lease in NoMad
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
(Photo illustration by The Real Deal)
Inside mall owner Namdar’s rapid growth story
Inside mall owner Namdar’s rapid growth story
15 Park Row (Google Maps)
J&R Music founders sell Park Row apartment tower for $140M
J&R Music founders sell Park Row apartment tower for $140M
Claudio Del Vecchio has owned Brooks Brothers since 2001. (Getty)
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Gov. Andrew Cuomo (Getty)
Industry reacts to Cuomo’s proposed commercial eviction ban
Industry reacts to Cuomo’s proposed commercial eviction ban
Merchants Hospitality Inks Club Deal at Cachet Hotel (Google Maps, Playboy Club)
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
arrow_forward_ios

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

Loading...