New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
City’s Cancels $10M in Tax Breaks as Aetna Waffles on Manhattan Move
City officials have cancelled the $9.6 million package of incentives offered to Aetna in exchange for moving its headquarters to Manhattan. That deal seems to be falling apart now that the insurance giant has agreed to be purchased by CVS in December.
“All Aetna locations will be evaluated during the integration planning process,” a company spokesman said in a statement, according to Crain’s New York Business.
Aetna had planned to bring 250 senior employees to a 145,000-square-foot space at 61 Ninth Ave., effectively filling the building aside from its retail storefronts. Aetna had already signed a lease for the space in a new boutique office being developed with asking rents of $150 per square foot.
Empire State Development had also offered Aetna $24 million in tax breaks.
For comments, questions or concerns, please contact our New York commercial real estate editor Bendix Anderson
- ◦Development
- ◦Lease
