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Merrill Lynch Staying Put; Hotel Pennsylvania Safe?

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The Wall Street Journal is reporting that Merrill Lynch is close to signing a lease renewal at the World Financial Center in Lower Manhattan (right), where the financial services giant is currently inked through 2013. The company was supposed to move to a new skyscraper built just for them in Midtown, on the site that now holds the Hotel Pennsylvania. Then there were some complications, and then Governor Spitzer tried to get the company to move to one of the new World Trade Center towers, and now, it all seems like much ado about nothing. But what does this mean for the Hotel Pennsylvania? Clearly Vornado would still love to tear it down and build something new and shiny, but does Merrill's abandonment of the project inadvertently help the campaign to landmark the building?
· Merrill Shelves Plan For New Headquarters [WSJ]
· Return of the Heavy Tug: Merrill to WTC Tower 3? [Curbed]
· Commence Heavy Tugging: Merrill Move in Jeopardy? [Curbed]