Bank of New York Mellon, in a move that boosts the already-improving fortunes of Lower Manhattan, has decided to move its headquarters to Brookfield Place downtown, The Post has learned.
The deal for about 350,000 square feet at 225 Liberty St., the former 2 World Financial Center, is likely to be announced on Thursday.
The agreement, confirmed by several industry sources plugged into the deal, definitively ends a saga that began when BNY Mellon announced last year it would put its landmarked tower at 1 Wall Street up for sale.
BNY was negotiating both for the Brookfield tower and also for a building in Jersey City. While the smart money was on the bank staying in Manhattan, it was never a sure thing.
Its decision is good news both for Brookfield, which is rapidly refilling space left behind by Merrill Lynch, and for downtown as a whole.
The bank’s origins stretch back to Alexander Hamilton, who also founded the New York Post.
Asked to comment on the news last night, Sen. Chuck Schumer, who had pushed key decision-makers to keep the bank in New York, said, “This is a real shot in the arm for downtown and the city. Smart companies know they can get the best quality and range of employees here. I’m thrilled BNY will continue to be a great New York institution.”
The impending move to Brookfield Place also benefits Larry Silverstein. His campaign to finance construction of 3 World Trade Center was delayed by lenders’ perception of what they regarded as a soft downtown leasing market.
The BNY deal, like Time Inc.’s move into Brookfield Place, should finish off that notion for good.
On Wednesday, Silverstein got a breakthrough of his own when the Port Authority authorized him to tap $159 million from an insurance-proceeds reserve to use for 3 WTC.
Silverstein and PA head Patrick Foye said it enables construction on the 80-story tower to resume.