Doing the math on the future prospects of BNY Mellon Center
Rising 54 stories above Grant Street, BNY Mellon Center stands as a teetering question mark for downtown as its second largest building.
As Bank of New York Mellon works to renovate the building it owns next door at 500 Ross, the financial institution has yet to show any signs of renewing its master lease at the more than 1.5 million square foot office tower at 500 Grant, which is set to expire in 2028.
A spokesman for MetLife, which owns the building, didn't have any updates regarding the property, noting that BNY has another four years on its lease. It's a master lease for the entire building that is limited enough in term that the building has been losing tenants because BNY can't commit to new leases from other companies beyond the end of its own...Read More
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