JPMorgan's Downtown Deal Still Unclear

Thursday, March 20, 2008

The Port Authority has suggested that JPMorgan is still interested in building something at Ground Zero.

But Mayor Michael Bloomberg, asked at a press conference yesterday if he was sure the firm would hold onto the lower Manhattan property, he wasn't convinced.

BLOOMBERG: No, I don't think they know or anybody knows. I hope they do. We've been working with them. They don't know the future any more than anybody else.

REPORTER: JPMorgan had a non-binding agreement to lease the former Deutsche Bank site on Liberty Street.

The investment firm says it would move employees to the former Bear Stearns headquarters in Midtown instead. JPMorgan wouldn't commit to keeping the Ground Zero property, but called it "valuable real estate that the company could still use."

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