Merrill Lynch Still Mulling ‘Not Attractive’ Hotel Pennsylvania Site

Both the Times and Post are following up today on financial giant Merrill Lynch’s potential interest in moving to the current Hotel Pennsylvania site.

According to the Post‘s Lois Weiss: "Merrill Lynch execs would prefer to be at Vornado Realty Trust’s [hotel site]" as opposed to Larry Silverstein’s forthcoming World Trade Center redevelopment.

"What Larry [Silverstein] has decked up financially is not superior to [Vornado’s] Hotel Pennsylvania, and it’s not big enough," our source said.

That statement somewhat contradicts what Merrill Lynch sources told Ms. Weiss just a month ago, when they complained the hotel property was "not attractive enough to employees."

"They can’t make up their minds," hotel preservationist Gregory Jones told The Observer.

Mr. Jones is spearheading a campaign to "Save The Hotel" from demolition (Vornado wants to erect a new office tower there)–a fate that may hinge on Merrill Lynch. If and when the company ever makes up its mind.

A decision could come soon. According to the Times story: "A spokesman for Merrill Lynch said the company expects to decide by the end of the month."


Merrill Lynch Still Mulling ‘Not Attractive’ Hotel Pennsylvania Site