BNY Narrows New Address Down

NEW YORK CITY—Bank of New York Mellon Corp. is mulling two different locations for a move from its Downtown headquarters, according to Bloomberg. The financial firm is deciding between a lower Manhattan skyscraper and a smaller office building in New Jersey for at least 850 employees who would relocate—and need to lease 400,000 square feet of space—following a sale of BNY’s building at One Wall St.

One of the bank’s top candidates is 225 Liberty St., a 2.7 million-square-foot tower at Brookfield that was once mostly leased to Merrill Lynch & Co., reports a person with knowledge of the negotiations. The other front-runner is a 410,000-square-foot waterfront building at 70 Hudson St. in Jersey City, the person said. Alternatives haven’t been ruled out. The governments of New York and New Jersey are said to be putting together packages of benefits designed to sway BNY Mellon’s decision for a move.