Next Goldman M&A Target: Brooklyn Heights?
We got an email a few days ago from a regular tipster who’s always been right in the past so we’re tempted to give him the benefit of the doubt this time around. While pointing us in the direction of a recent sale on Joralemon Street, he noted that the buyer happened to be a…
We got an email a few days ago from a regular tipster who’s always been right in the past so we’re tempted to give him the benefit of the doubt this time around. While pointing us in the direction of a recent sale on Joralemon Street, he noted that the buyer happened to be a Goldman Sachs executive. This was, he claimed, part of a trend that’s seen members of the city’s most successful investment bank crossing the East River (more than usual) in recent months to buy a piece of the rock in Brooklyn Heights. Another broker we quizzed, who has several Goldman clients looking in the neighborhood at the moment concurred, said he knew of two Goldman deals that have taken place in recent weeks. The only bank where bonuses are expected to rise significantly this season, Goldman bankers and traders are certainly in the best position to snap up those $5 million-plus houses. Think there’s anything to this “trend” or has it just always been so?
I guess once Goldman got the deal to stay downtown and their new tower started to go up, alot of execs there started to feel they would be working downtown for many years to come, so the near Brooklyn neighborhoods started appealling to them.
This isn’t a new trend. Wall Streeters have lived in the Heights forever… easy commute, schools for the kids, etc.
10:00am. Wrong on Goldman’s new location not being east to get to from Brooklyn Heights. The A/C from High Street to Chambers Street (2 stops and short walk to Goldman’s new building). Also 2/3 to Park Place or Chambers. Will be essentially no difference to Goldman’s current digs at 85 Broad (or One NY Plaza, if you currently work there).
I know of more GS employees leaving than coming.
One VP moved out of the bldg next door.
GS itself is moving further away from BHS, and it isn’t particularly easy to get to by subway from BHS. Midtown / mid 50s is a pain to get to from BHS.
If they are going to choose any Brooklyn neighborhood, it’s going to be BH. Best location and best housing stock, for those that can afford it.
Wall Streeters flocking like lemmings…. Who would have thought?
No this is nothing new. Clark is one stop from Wall Street. Gold where Goldman is is a 5 minute commute. I lived in BH for 17 years and the place is home for a nice chunk of the financial community.
Maybe because a lot of Wall Street bankers don’t work on or near Wall Street. Goldman, Deutsche Bank and (not for long) Merrill are downtown, but everyone else (Morgan, Lehman, Bear, Credit Suisse, UBS) are mid-town.
That is news?
We can do better.