Real Estate Hoax of The Day: Verizon Gives Up Building to Pace University

There have been rumors swirling around today that Verizon Communications would be transferring ownership of 375 Pearl Street to Pace University at the beginning of next year, and that the university would convert a number of floors in the building to dorms.

Well, folks, its not true.

“This a complete hoax,” Chris Cory, Pace's public information director, told The Observer. “I am not sure where this information came from.”

The rumors indicated that City Comptroller Bill Thompson Jr. was going to make an announcement regarding the financial details of the deal today. That was news to the comptroller’s office.

“We don’t know anything about this,” communications director Jeff Simmons told us.

A formal press release debunking the rumor is expected from Pace later this afternoon.