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Bank of America eyes 200,000 s/f at 6th Ave.


Eager to move some of its offices from 9 West 57th West 57th can refer to:
  • West 57th Street, a street in New York City
  • West 57th (news magazine), a news magazine program which aired on the CBS Television Network from 1985 to 1989
 Street because of a feud with building owner Sheldon Solow, and also wanting to shift its operations closer to where its new tower at One Bryant Park Bryant Park is a 9.603 acre (39,000 m²) public park located in the New York City borough of Manhattan. It is bounded by Fifth Avenue, Sixth Avenue, 40th Street and 42nd Street in Midtown Manhattan.[1] The central building of the New York Public Library is in the park.  will be, Bank of America
See also:  and


Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world.
 is considering a 200,000 s/f block of space available at 1166 Avenue of the Americas, sources say.

Bank of America wouldn't be the only big firm interested in the space. Last week REW n. 1. A row.  reported that insurance giant St. Paul's
This article refers to the Canadian electoral district, for other uses see Saint Paul (disambiguation), Cathedral of Saint Paul, St. Paul's Church
St.
 Travelers may strike a deal to move into the 1.6 million s/f building.

Bank of America's interest comes after a period of strong leasing activity by financial firms in midtown. In recent months, Citigroup completed two massive lease transactions, a 500,000 s/f deal at SL Green's 485 Lexington Avenue and a 250,000 s/f lease at Equitable owned 787 Seventh Avenue.

Bank of America was close to taking a considerable chunk of space at the Bloomberg building months ago when Citigroup swooped in and, save for Bloomberg's space, gobbled up nearly all of the building's remaining vacancy. "They got boxed out of the Bloomberg building," a source said.

Bank of America responded by quietly taking much of the space in Rockefeller Center Rockefeller Center, complex of buildings in central Manhattan, New York City, between 48th and 51st streets and Fifth Ave. and the Ave. of the Americas (Sixth Ave.). The project was sponsored by John D. Rockefeller, Jr.  formerly occupied by the Associated Press Associated Press: see news agency.
Associated Press (AP)

Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world.
. "Their goals is to get everyone out of 9 West 57th Street," the source said.

Insurance and consulting firm, Marsh & McLennan, owns roughly two thirds of 1166 Avenue of the Americas and it is their 200,000 s/f that is available. Edward J. Minskoff Equities owns the other portion, which is entirely leased to JP Morgan Chase. Two weeks ago, JP Morgan Chase subleased 120,000 s/f to publishing firm, Advanced Publications, in a deal brokered by CB Richard Ellis's John Nugent. JP Morgan Chase also exited from a considerable chunk of space at 1211 Avenue of the Americas, paving the way for a 250,000 s/f lease taken there by law firm Ropes & Gray two weeks ago. Cushman & Wakefield broker Mitch Arkin repped the building's owner, Jamestown, in that deal while Ropes & Gray was repped by Newmark's Barry Gosin and Mark Weiss.

C&W brokers Andy Sacks and Timmy Gibson are the landlord reps for Marsh & McLennan's space.
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Article Details
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Author:Geiger, Daniel
Publication:Real Estate Weekly
Date:Nov 2, 2005
Words:379
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