Merrill Lynch relocates Queens office to Pinnacle - Merrill Lynch and Company Inc. moves office to Queens, New York, New York condominium tower

Real Estate Weekly, Dec 16, 1992

Merrill Lynch & Co. is moving its major Queens office into 12,500 square feet of retail space at The Pinnacle, the 27-story luxury condominium tower here, according to CrossLand Federal Savings Bank, the building's sponsor.

The financial services company signed a 10-year lease for nearly all of the first-floor retail space offered at the residential building at 112-01 Queens Boulevard, reports David Hale, a CrossLand vice-president. Only 2,100 square feet of additional retail space remains vacant at the building, he added.

Thirty-eight brokers and a 25-person support staff will relocate from Merrill-Lynch's present quarters on Queens Boulevard, four blocks from The Pinnacle, reports Raymond L. George, Jr., manager of the company's Queens operations.

A smaller satellite office in Fresh Meadows will continue to function at that location, he adds.

Merrill Lynch selected The Pinnacle for its new quarters because it offers several important advantages, said George.

More than 65 percent of The Pinnacle's 219 residences have been contracted for sale, and more than 55 percent of these are closed.