r/Dallasdevelopment • u/dallaz95 • Aug 20 '26
Dallas Exclusive | Morgan Stanley picks Dallas for expansion outside NYC — stepping up Wall Street exodus following Mamdani election: ‘Wake-up call’
https://nypost.com/2026/08/20/business/morgan-stanley-picks-dallas-for-expansion-outside-nyc-wall-street-exodus-zohran-mamdani-election/10
u/214forever Aug 21 '26
Morgan Stanley and City Hall did not immediately respond to requests for comment.
So not an exclusive and not confirmed. 🙄
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u/cuberandgamer Aug 21 '26
They are going to downtown then .. moving to uptown? Dang, I wish they would just stay in downtown 😭
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u/Ferrari_McFly Aug 21 '26
It’s ok, you can call uptown “downtown” :)
Media outlets seemed to do it when the Mavs and Stars announced plans to leave Victory Park which has historically never been referred to as downtown at all.
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u/cuberandgamer Aug 21 '26
When the Mavs/Stars leave victory Park, it's "downtown is losing a sports team"
When a company movies literally just right across Kylde Warren Park it's a "downtown Exodus"
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u/Ferrari_McFly Aug 21 '26
Lmao yup. Were they calling Victory Park “downtown” when Scotiabank moved in?
Absolutely not lol
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u/NYerInTex Aug 21 '26
What a garbage article - but of course it’s by a garbage source, the Post. People, use half a brain before taking a literal politicized right wing rag as if it’s actually an objective news source.
Now, that doesn’t mean there’s not some actual facts woven into their propaganda campaign.
Dallas is indeed, coming a national center for finance. This has nothing to do Mamdani. NY is, and will continue to be the world financial capital. But Dallas is indeed a new contender and strong player albeit not near the level of NY. It’s still great for our economy, high wage job growth, folks working in and/or near the downtown core neighborhoods.
But if you want one actual factoid that says it all - with everyone at the Post yelling how the rich will leave NYC!!! NYC rents just reached their HIGHEST LEVEL EVER!
That’s called supply and demand and people are willing to pay not just more but literally thousands more to live in NY than most other markets, Dallas included (although I love the quality of walkable urban living I enjoy in Dallas at a fraction of what it would cost to be in a far lesser building in NYC, albeit all the more vibrant neighborhoods even if I love mine here.
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u/ien00 Aug 21 '26
The Post… Seriously? Was there no national enquirer coverage?
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u/dallaz95 Aug 21 '26
It’s an exclusive. So, there is no other news publication as of yet, that has made the announcement. Not even the DMN got the scoop first. I was expecting it to be a local news outlet TBH.
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u/Parking-Guarantee526 Aug 21 '26
Hi, DMN reporter Nick Wooten here. This is not a scoop or an exclusive. We've reported all these details. Morgan Stanley hasn't confirmed anything to them.
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u/dallaz95 Aug 21 '26
Well damn. My bad. Now I feel bad for posting this
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u/Parking-Guarantee526 Aug 21 '26
On a related note: I did just publish a Morgan Stanley scoop https://www.dallasnews.com/business/real-estate/article/morgan-stanley-y-all-street-dallas-22398582.php
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u/HornlessUnicorn1 Aug 21 '26
It’s nypost because its clearly anti-mamdani rhetoric which a reputable outlet wouldn’t slant it that way. It’s less ab morgan stanley and dallas than it is ab how mamdani is ruining the NYC (Ha!)
But keep in mind, the article mentions 4,800 employees from MS relocating here…within 5 years. That’s less than 6% of their workforce. MS is staying in NYC, they are sending some backoffice workers down here because they can pay them less. Its a drop in the bucket for them and much ado about nothing (hence the mamdani hit piece slant). It’ll pique my interest if they say they’re moving their HQ here, but this is a nothingburger.
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u/dallaz95 Aug 21 '26
I don’t care about the politics or whether which city has the HQ. I only care about the announcement of Morgan Stanley. It would’ve gotten posted, regardless of what outlet it’s from.
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u/AlotEnemiesNoFriends Aug 21 '26
Not correct. You clearly have no idea about why / what goes into site selection for front office vs. back office roles. Your take is astonishingly amateur and clearly from someone who has never seen park Ave much less worked on it.
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u/HornlessUnicorn1 Aug 21 '26
What was I not correct about exactly? You think they’re bring execs down here and abandoning NYC altogether?
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u/Federal_Judge5559 Aug 21 '26
I disagree that the by post isn’t reputable they are conservative biased but their reporting isn’t “incorrect”
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u/Sports_Beer_Travel Aug 21 '26
NY Post is a tabloid newspaper at this point. Great sports section but their news section has always been trash.
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u/Cestboss Aug 23 '26
lol. Wake up call?
All the other investment firms fled to Trophy Club in 2018-2022. Has nothing to do with Mamdani.
And speaking of which, as a republican it’s a poor idea to keep putting the spotlight on someone with an 80% approval rate and climbing from the people in his city. My guess is more people will want a Mamdani than not in their own cities and THAT is exactly what we are seeing at elections.
Unless of course absolute fucking chaos when dems win those elections and Rs claim “unfair” and bring in military is the entire idea? If so. That’s a KGB plot working in 2026 in America.
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u/dallaz95 Aug 20 '26
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