Bank of America selling NYC building stake- report
Spokespersons for Bank of America and Brookfield declined
to comment.Bank of America, which agreed to to buy Merrill at the
height of the financial crisis in 2008, has been reducing its
space in the building. The Charlotte, North Carolina, bank has
a tower in Midtown Manhattan that officially opened last year.The sale is the latest move by Bank of America to shed
assets as it looks to build capital to meet new international
standards and to cover mortgage losses.
