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Merrill Lynch Headed for Madison Square Garden

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At least it will be easy to get tickets for the Knicks.

Merrill Lynch is inching closer to a deal to relocate its headquarters to Midtown from Lower Manhattan. The investment bank, which has been headquartered downtown since its founding in 1914, has exchanged documents detailing a potential deal with Vornado Realty Trust to be the anchor tenant at a new office tower it plans to build across from Madison Square Garden.
Merrill Lynch is "trading paper with Vornado now" to relocate to a proposed 2.5 million-square-foot office tower at the site of the Hotel Pennsylvania, a real estate professional close to the negotiations said.

Merrill Lynch May Relocate to Midtown [New York Sun]