As GlobeSt.com previously reported, utilizing the many financialincentives available to the company if they choose to locate in theWorld Trade Center site or another site Downtown--including a Pilotdeal that reduces real estate taxes, low cost power, and waiver ofsales tax on the building, and the entire tenant fit-out--will saveMerrill Lynch $600 million.

The financial firm's lease in its downtown Manhattan office willexpire in 2013 and although preliminary, according to anunidentified source, Merrill is said to be considering one of threebuildings being developed by Larry Silverstein, which the sourcesays is Tower 3. Also known as 175 Greenwich St. anddesigned by Richard Rogers Partnership, it will be located at thecenter of the buildings around the WTC Memorial site. The buildingis around 2.5 million sf, a source tells GlobeSt.com.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.