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NEW YORK CITY-Brown Brothers Harriman will stay in Manhattan, but theprivately-owned bank will move from its address of 168 years, 59/63 WallStreet, to new digs at 140 Broadway next summer. The 34-year-old building, designed by Skidmore, Owings & Merrill, has garnered interest from a number of high-powered financial employers over the years. HSBC vacated the 1.2-million-sf building earlier this year, and Goldman Sachs, once intending to lease the property, changed its plans about four months ago.

The newly unveiled deal is largely the result of an incentive offered by the New York City Economic Development Corp., which moved to keep Brown Brothers Harriman from defecting to New Jersey’s Gold Coast, as many others have done. About 850people will re-locate in the move.

“It’s a testament to the strength of the Downtown market that Brown Brothers will remain in lower Manhattan,” says Scott Gamber, a seniormanaging director at Insignia/ESG, who with Douglas Lehman negotiatedthe 20-year lease for Brown Brothers. “But in efforts to retain such animportant banking institution as Brown Brothers Harriman,the EDC structured and incentive plan that kept these jobs inManhattan.”

Catherine Ernst and Roger Silverstein acted for Silverstein Properties and Morgan Stanley Real Estate Fund III; RadfordW. Klotz managed the negotiations at Brown Brothers Harriman.

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