A Bank of New York Mellon branch property and nearby parcel in Greenwich have sold for a combined $16.5 million to an LLC linked to a private equity firm based in the same town.
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A private equity firm has acquired a four-story office building in Greenwich that was the only Connecticut branch for Bank of New York Mellon Corp. for $13.5 million, according to the town's lad records.
Greenwich-based Atlas Holdings has acquired the 27,000-square-foot bank building, at 10 Mason St., and a nearby 0.7-acre parcel, at 43 Mason St., from the financial institution, which in 2024 rebranded itself from BNY Mellon to just BNY.
Atlas, which bought the bank building under the name 10 Mason LLC and the parcel under the name 43 Mason LLC, plans to occupy the 10 Mason St. building but stay headquartered in a 9,000-square-foot office building it has leased at 100 Northfield St. since 2014.
"We purchased the building to bring our team closer together, accommodate our significant expansion and prepare for future growth," Atlas Chairman Andrew Bursky told the Hartford Business Journal. "We expect to take occupancy before year end and will continue to own and occupy 100 Northfield moving forward, as well."
Bursky said Atlas, which has 60,000 workers worldwide, plans to move Atlas employees from other locations into the building at 10 Mason St., but he wouldn't say how many employees or where those employees would come from.
Both LLCs name Michael O’Donnell, general counsel and chief compliance officer at private equity firm Atlas Holdings, as their principal, state records show. O’Donnell’s listed business address is the same as that of Atlas Holdings.
In late March, the Bank of New York Mellon notified the state Department of Banking that it would close its private bank facility at 10 Mason St., by June 30.
AÂ BNY spokesperson said it is leasing back some space to maintain its wealth management business at the property.
According to the bank’s website, it still lists a wealth management office at 10 Mason St. That building was appraised at $27.5 million and assessed at $19.2 million in 2024, property records show.
The parcel at 43 Mason St. was appraised at $6.06 million and assessed at $4.25 million in the same year.
