Bank of America looking for space, report says.

The principal players are keeping mum so far, but word is that Bank of America is looking for a new address in' the Times Square district and might lease space in one of the three buildings currently under development there.

According to published reports, the bank would like to consolidate most of its employees in one Midtown location and has already met with several real estate owners to discuss a possible deal.

When it comes to the Times Square district, it must be noted, the bank has a lot to choose from. There is the Brookfield Financial Properties building at Madison Avenue and 42nd Street, which is expected to be ready in the fall. Officially, the property is destined to be the headquarters of the Canadian Imperial Bank of Commerce, but the financial institution has recently decided to limit its occupancy to 370,000 SF and sublease the remainder of the space to another firm.

"The entire building was leased to CBS for 30 years, but now they just want a part of it, so we are acting as the marketing agent for them," said Melissa Coley, a spokesperson for Brookfield Financial. She refused to discuss, however, the possibility that the Bank of America might move into the other part "We don't comment on rumors or speculations," she noted.

Then, there is the Boston Properties' Times Square Tower, perhaps the likeliest candidate to become the Bank of America's new home. The 12 million SF building has been in dire need of tenants since the winter of 2002 and even the recent lease signed by O'Melveny & Myers LLP would only answer for 206,000 SF of the property. But much like Brookfield, Boston Properties is refusing to discuss any possible negotiations.

"We won't comment on anything until a deal is done," a spokesperson for the company said.

Finally, there is the possibility that a pre-lease by the bank would give the green light for the Durst Organization-developed tower at 42nd Street and Avenue of the Americas. Officials from the bank have reportedly met with Douglas Durst for discussions, but such a deal would have to have the approval of the city and would delay the move by several years.

As for the bank itself; it's being as mysterious about its plans as everyone else. "It's unlikely that we will be able to discuss something like that," said a spokesperson for the bank's broker, Jones Lang LaSalle.