{"id":1004099574,"date":"2014-06-30T07:01:44","date_gmt":"2014-06-30T15:01:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004099574"},"modified":"2022-12-09T02:24:00","modified_gmt":"2022-12-09T10:24:00","slug":"bny-mellon-takes-350-ksf-at-brookfields-downtown-nyc-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bny-mellon-takes-350-ksf-at-brookfields-downtown-nyc-complex\/","title":{"rendered":"BNY Mellon Takes 350 KSF at Brookfield&#8217;s Downtown NYC Complex"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/06\/Brookfield-Place1.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004099579\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bny-mellon-takes-350-ksf-at-brookfields-downtown-nyc-complex\/brookfield-place-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/06\/Brookfield-Place1.jpg\" data-orig-size=\"800,508\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Brookfield Place\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/06\/Brookfield-Place1.jpg?w=800\" class=\"alignleft size-medium wp-image-1004099579\" alt=\"Brookfield Place\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/06\/Brookfield-Place1.jpg\" width=\"300\" height=\"190\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/06\/Brookfield-Place1.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/06\/Brookfield-Place1.jpg?resize=300,191 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/06\/Brookfield-Place1.jpg?resize=768,488 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>The Lower Manhattan office market seals a deal with another big fish. BNY Mellon has signed on for 350,000 square feet at 225 Liberty St., one of the five office towers in Brookfield Office Properties Inc.\u2019s 8 million-square-foot Brookfield Place complex, formerly known as the World Financial Center.<\/p>\n<p>\u201cBNY Mellon\u2019s lease agreement is a testament to Lower Manhattan\u2019s incomparable draw and benefits,\u201d Jessica Lappin, President of the Alliance for Downtown New York, told <i>Commercial Property Executive<\/i>. \u201cLower Manhattan continues to build on its status as a world class business district.\u201d<\/p>\n<p>The 20-year contract provides BNY Mellon with a new home for its consolidation and relocation from its 1.1 million-square-foot headquarters building at One Wall St., which the company is selling to a Macklowe Properties-led joint venture for $585 million. The global investments concern will hardly be lonely at the 2.7-million-square-foot 225 Liberty; in May, Time Inc. entered into a lease agreement for 700,000 square feet at the premier building in a relocation of its global headquarters from Midtown.<\/p>\n<p>The 44-story high-rise is now nearly 90 percent leased. Additionally, in a move that will likely attract even more attention at Brookfield Place, Brookfield is submitting the retail and public segment of the property to a $250 million renovation.<\/p>\n<p>The numbers are looking good for all of Lower Manhattan, as well.<\/p>\n<p>\u201cWith more than 1.6 million square feet in commercial leasing, Lower Manhattan has just seen the best first quarter in more than a decade,\u201d Lappin added. \u201cMore and more corporations, both large and small, are navigating to Lower Manhattan and all it has to offer.\u201d<\/p>\n<p>The overall vacancy rate in Downtown dropped to 12 percent in May, according to a report by commercial real estate services firm JLL, which represented BNY Mellon in the lease transaction.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNY Mellon has signed on for 350,000 square feet at 225 Liberty St., one of the five office towers in Brookfield Office Properties&#8217; 8 million-square-foot Brookfield Place complex, formerly known as the World Financial Center.<\/p>\n","protected":false},"author":952,"featured_media":1004099577,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21808,11,1600,21742,10,21747],"tags":[],"class_list":["post-1004099574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-featured","category-midatlantic","category-new-york","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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