BNY has officially taken on a sublease from Condé Nast for four floors totaling over 192,000 square feet at One World Trade Center.
They claim this is to support renovations at 240 G… but that doesnt add up.
RV spending money over working remote.
It seems the RTO space issue will be solved.
5 days a week in office coming next.
@k0 run along to daddy Biden cause nobody cares about your stupid comments
Employees really are naive. There’s a merger already happening.
The goal is to speed up the 20 percent of employees being terminated next year without severance. Very few layoffs and it requires a strong business justification to pay an employee severance.
Why do you think they are changing the name of several lines of business?
Now leasing the WTC?
2+2=4
@cd don’t be too jealous. It’s Just the elevator lobby. I’m assuming the building owner maintains that area since BNY just finally sold it lol
Who remembers 225 Liberty Street? This was supposed to be our main headquarters but we were out of there in three to fours years if I recall correctly. Don't get me wrong, it was a nice building as well as our floors, but it's another example of blowing money and not thinking long term. For what it's worth, I'm pretty sure the 240 renovations from 2018 only took about a year - maybe two.
@c4
Wait a minute.. you guys got new rugs?
I am jealous. Ours smell like bad poozle.
My dog literally inspects my shoes when I come home. He has a problem with curry apparently.
We got new rugs in the elevator lobbies in Wilmington, DE! Finally got rid of the mismatched rug tiles from the coffee spill incident. Maybe at some point they’ll properly nail back in the baseboards. They are so invested in us! Yay US team! Well worth all the extra gas costs and coffee I have to buy daily since our “free” coffee su-ks! The things I have to do to keep myself alert enough in that miserable place where all you hear is everyone collaborating and taking bets on the next layoff.
Ill spell it out for everyone...the plan is to have only 2k employees left in nyc..sell 240G for big profit and just keep leasing going forward.
@am
The internet is your friend. The real deal and financial times are actually posting about it and it is 4 years. That amount of square footage is enough for over 2000 people. That happens to be right around the overflow of seating at 240. Ask me how I know :) Also- That is not due to renovations. And renovations do not take that long. Also, this is not 2017. This is 2025 and you have RV looking to downsize practically everywhere except India. Controversial? Where? how? You made that up. These are called facts based on a lease deal just made and disclosed. Especially in light of recent closures. You know, BNY was renovating Woodland park too in 2023 and then it got sold and demolished 11 months ago. And that was a lower cost tech and operation center compared to NYC. It is very crystal clear what this is about and 2017 style consolidation and renovations are not it.
@aj This troll is repeating the same message in every forum - Go back to documenting the amount of fe--s left in the toilet bowls in every stall of JC floors - You seem to relish that and reporting on that.
240G is open to anyone - not restrictive like Pennington or JC. So why do you want to visit JC unless you love documenting the toilet bowls and the rat infestation ..
Where did you see four years? Nothing says it’s that long.
Not unreasonable that we would rent space nearby while we renovate 240G. People will probably rotate into 1WTC while their floors are renovated, then back into 240G, and the next group of people will rotate in until the work is done.
Why is this controversial to you? It’s very standard real estate management practice to relocate people while you work on an office. We did the same thing in 2017ish when we consolidated offices in lower manhattan.
Sounds like a new headquarters space that is a worthy space for our execs!
I believe the long term plan is to have everyone in the NYC area to be actually in NYC. Pennington will close sooner than later. Those people will be directed to JC or NYC. Eventually JC will close too with those folks moving to NYC.
@OP so hes paying more money for expensive locations and leasing the spaces while closing facilities bny owns in low cost areas and displacing those folks. Making them permanent wfh only to lay off for being wfh. Makes total sense
Yeah… a lease of 4 years. LOL what kind of renovations take 4 years? The WTC was built in half that time. May’be RV’s demolition work on employees in the US will be done by 2030? Lies, lies, lies we can’t believe a word RV says. And I fully expect 5 days a week….