Bank of America to Grow Footprint to 2.4M SF at One Bryant Park

Bank of America is taking over almost the entire 2.44 million-square-foot office tower at One Bryant Park, which it owns in a joint venture with the Durst Organization.

The financial institution will grow from its current roughly 1.8 million square feet to dominate the 55-story tower with 2.4 million square feet on a 20-year term, Crain’s New York Business first reported. The deal leaves only a few small retail tenants as the only companies leasing the building other than Bank of America. 

Bank of America plans to sublet some of the new space, however, according to Crain’s.

The asking rent was not disclosed, but the average office asking rent in Midtown was $85.11 per square foot in February, according to a report from CBRE.

“One Bryant Park is a critical hub and cornerstone for our global business,” José Tavarez, president of Bank of America’s New York City operations, said in a statement. “This historic investment underscores our commitment to driving growth, creating economic opportunity, and supporting the communities that make New York City thrive.”

Tom Bow, Rocco Romeo and Nora Caliban represented Durst in-house, while Bank of America was represented by Robert Alexander, Ryan Alexander and Taylor Callaghan of CBRE.

“One Bryant Park set a new standard for environmental sustainability as the first skyscraper in North America to achieve LEED Platinum Certification,” Jody Durst, president of The Durst Organization, said in a statement. “Bank of America has been our partner and the anchor tenant at the building from the beginning, and we are proud that the bank will expand in the building and continue to call One Bryant Park its New York headquarters for 20 more years.”

The bank has built a strong presence in the Midtown area, also leasing upward of 386,000 square feet at Two Bryant Park, or 1100 Avenue of the Americas, and 127,000 square feet at the Grace Building, also known as 1114 Avenue of the Americas, in 2018.

Retail tenants that will remain in the building include Verizon, Starbucks and a Japanese restaurant concept from Momoya, which just signed a 5,000-square-foot lease in February 2025.

Mark Hallum can be reached at mhallum@commercialobserver.com.