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BNY Mellon to relocate HQ from Brookfield Place

Bank of New York Mellon Corp. is aiming to transfer its global headquarters from Brookfield Property Partners' 225 Liberty St. tower in the Brookfield Place office complex in downtown Manhattan, N.Y., to a nearby building the custody bank owns at 101 Barclay St., the Wall Street Journal reported.

A person familiar with BNY Mellon's plans told the publication that the bank looks to sublet its 350,000-square-foot office space at the 225 Liberty St. building, on which it signed a 20-year lease in 2014.

Citing a spokesman for BNY Mellon, the Journal said the planned relocation, set to start in the summer, consolidates the bank's presence in New York by bringing together about 4,500 employees under one roof. It marks the bank's second headquarters move in less than four years, the publication noted.

A spokesman for diversified commercial real estate company Brookfield Property did not comment on the matter, according to the publication.