X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-The Depository Trust and Clearing Corp. may be on the verge of moving 1,600 employees to Jersey City while maintaining its headquarters in Lower Manhattan, the New York Times reported Friday. A final decision has not been reached, and New York City officials still have hopes of steering the back-office employees to Pierrepont Plaza in Brooklyn, according to the Times.

“We don’t think it’s over yet,” Assembly Speaker Sheldon Silver told the Times. “I believe they’re willing to keep at least 700 [employees] Downtown. We’re trying for more.” Silver’s Assembly district includes Lower Manhattan, where the DTCC is headquartered at 55 Water St., Manhattan’s largest office building at 3.8 million square feet.

New Jersey officials had offered the DTCC a package of incentives worth well over $70 million, along with the promise of lower costs to rent space on the western side of the Hudson. The back-and-forth wooing of DTCC by officials including New Jersey Gov. Jon Corzine has gone on since the beginning of the year, the Times says.

Calls to the DTCC for comment on the Times report were not returned by deadline. To read the complete article, click here

.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.