Bank of America has signed a 20-year lease at One Bryant Park that gives the bank control of virtually the entire office component of its flagship Midtown Manhattan, N.Y., headquarters. The new deal expands the bank’s existing footprint at the more than 50-story tower from around 1.8 million square feet to 2.4 million square feet of the building’s total 2.44 million square feet.

The lease is structured as a triple-net agreement, a format that shifts the burden of property taxes, insurance and maintenance onto the tenant, rather than the landlord. That’s a new element in the arrangement between Bank of America and co-owner of the joint venture, The Durst Organization.

The cost of rent was not made public, but Manhattan office space had an average listing rate of more than $73 per square foot in February per Yardi Research. Notably, that figure doesn’t take into account that One Bryant is in the heart of Midtown, which has been at the center of the Manhattan office space demand revival.

It’s expected that the other current occupants of office space will not be asked to leave. Instead, Bank of America is likely to sublease that space back to them, according to Crain’s New York Business. A handful of retail tenants will also remain. Among them are Verizon, Starbucks and Momoya — the Japanese restaurant concept that took a 5,000-square-foot space in the property early last year.

The tower at 111 Avenue of the Americas was the first skyscraper in the country to earn LEED Platinum certification when it opened in 2010. Since day one, Bank of America has been its lead tenant.

The deal also builds upon what the bank has been building toward for years in the Bryant Park area: More than 10,000 of its New York employees work in and around the area out of a citywide workforce that numbers more than 12,000. Beyond One Bryant Park, the bank holds leases at Two Bryant Park, where it occupies 386,000 square feet, and at the nearby Grace Building, where it has around 127,000 square feet.

José Tavarez, president of Bank of America’s New York City operations, said the building sits at the center of the firm’s global business.

“This historic investment underscores our commitment to driving growth, creating economic opportunity and supporting the communities that make New York City thrive,” he said.

Meanwhile, Jody Durst, president of The Durst Organization, pointed to the building’s sustainability credentials and the longevity of the partnership.

“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,” he said.

Bank of America is not alone among major financial institutions in doubling down on Midtown: JPMorganChase opened its new, $3 billion global headquarters at 270 Park Ave. in October 2025, heading up a campus that now spans nearly 6 million square feet across a handful of blocks in Midtown East. Additionally, Citadel signed a 504,000-square-foot lease at 660 Fifth Ave. while simultaneously anchoring a new, 62-story tower under construction at 350 Park Ave., where it will eventually occupy around 850,000 square feet. The firm also holds 440,000 square feet at 425 Park Ave. nearby.