The sale "will advance our plan to consolidate office space in New York City, lead to a more functional and efficient work environment for our employees, and deliver a solid financial gain to the company," BNY Mellon Chairman and Chief Executive Officer Gerald Hassell said in the statement. BNY Mellon is looking for about 400,000 square feet of offices to move employees once the building is sold. The bank is in the midst of choosing between Brookfield Office Properties Inc.'s 225 Liberty St. in lower Manhattan or 70 Hudson St. in Jersey City, N.J., a person with knowledge of the discussions said earlier this month.