Bank of America is expanding its footprint to nearly the entirety of One Bryant Park in Midtown Manhattan, Bloomberg News first reported. An anchor tenant at the tower since its 2010 completion, the bank has signed a 20-year office lease for the entire office portion of the 51-story property known as the Bank of America Tower, along with some retail space.
BofA will occupy 2.4 million square feet of the 2.44 million-square-foot tower through a triple-net lease agreement, making the bank responsible for all operating costs of One Bryant Park, reported the New York Business Journal. Retail tenants, including Verizon and Starbucks, will remain in place.
The bank plans to sublease some space at the property to other companies already located within the building, the Business Journal reported. The bank owns the property in a joint venture with The Durst Organization and currently leases 1.8 million square feet there.
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