Bloomberg Nears Deal on His Foundation’s Home

Michael R. Bloomberg, the mayor of New York City, is poised to buy a $45-million building on the Upper East Side to house the foundation he plans to establish, reports The New York Times.

Even as speculation mounts about a potential run for the presidency, Mr. Bloomberg is signaling that he will devote his post-mayoral future to full-time philanthropy, the paper says. Mr. Bloomberg, who has said he admires how the Bill & Melinda Gates Foundation closely tracks the results of its grant making, will likely focus his giving on areas he already supports, like public health, medical research, education, and the arts.