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New York Fed Acquires 33 Maiden Lane for $208M

NEW YORK CITY-The Federal Reserve Bank of New York has acquired the 600,000-square-foot building from Merit US Real Estate Fund III, LP.

By Jacqueline Hlavenka | Updated on February 28, 2012

NEW YORK CITY-In furthering its commitment to the city’s Financial District, the Federal Reserve Bank of New York has purchased 33 Maiden Lane for $207.5 million following an evaluation of the bank’s real estate needs, the Fed unveiled late Tuesday. The regional bank acquired the 27-story, 600,000-square-foot building from Merit US Real Estate Fund III LP and formed a new limited liability company called Maiden & Nassau LLC to serve as owner of the property.

The decision comes on the heels of a financial analysis that considered the bank’s long-term space requirements and potential fluctuations in Lower Manhattan’s real estate market. The purchase officially got the green light by the New York Fed’s board of directors and the board of governors of the Federal Reserve System today.

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