Return of the Heavy Tug: Merrill to WTC Tower 3?
Wednesday, November 21, 2007, by Joey
Merrill Lynch's move from Brookfield Properties' World Financial Center to a new skyscraper built on the ashes of the Hotel Pennsylvania in Midtown seemed like a sure thing. Then Merrill's CEO stepped aside amidst financial turmoil, and then the landmarking campaign for the Hotel Penn gained some momentum, and now, the Observer's Eliot Brown reports that Gov. Spitzer is trying to lure Merrill Lynch into the World Trade Center's Tower 3. For those who need a refresher, Tower 3 is Sir Richard Rogers' flag-waving entry to the WTC hodgepodge (right). Reportedly, Spitzer wants to cut Merrill a huge deal on the cost of the movelike, hundreds of millions of dollars. Let's just say that Brookfield and Hotel Pennsylvania landowner Vornado can't be happy with this Spitzer-Larry Silverstein collusion, which essentially ruins the fair fight to win the bank's money. But they both have that little Hudson Yards thing going on, so maybe Brookfield and Vornado are distracted. Dudes, you guys are totally getting effed over here!
· Spitzer Goes to Bat for Silverstein, Vies to Keep Merrill Downtown [NYO]
· Commence Heavy Tugging: Merrill Move in Jeopardy? [Curbed]
· 'Heavy Tug' Fails: Merrill Headed For Hotel Pennsylvania? [Curbed]
· Merrill Lynch Getting Sexy 'Heavy Tug' to Stay [Curbed]

Filed under
Commercial Real Estate,
Manhattan: Financial District/Wall St/Battery Park City,
Manhattan: Midtown West/Times Square,
World Trade Center Redevelopment,
Brookfield Properties,
Hotel Pennsylvania,
Larry Silverstein,
Merrill Lynch,
Vornado Realty Trust,
World Financial Center,
World Trade Center
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