The seller of the property that sits on about 20 acres is the Mormon Church, Weisz says. Although forthcoming on the pending sale, Weisz would not divulge the purchase price for the property built in the late 1970s.
Rumors have been circulating in the market that the Bank of New York is looking to vacate some or all of its space at the building. Weisz acknowledges those reports, but says that his firm has not held any formal talks with the banking firm as yet. The Bank of New York's lease does not expire until the end of 2007.
The Bank of New York "Doesn't even have it formally clear what they want to do," Weisz says. Noting that the bank has been in the market looking for space, he says that one issue the tenant had with the building was that the owner would not multi-tenant the property.
Weisz says that once the deal closes, he will multi-tenant 440 Mamaroneck Ave., if necessary. "If their choice is to stay in the building with less footage, we will do that," he adds.
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