BoA just signed up to take over all of OBP, making current tenants of 600,000 SF subtenants of BoA i.e. no immediate big expansion but we went from 1.8m SF leased to 2.4m SF total so flex option for the future...perhaps this is to enable the full RTO ?
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Leasing more space in NYC is such a brain dead move. Employees in NYC cost tens of thousands more each, annually than say, Texas or Arizona.
@b2 reports say that they’re not terminating any existing leases. But deals can be made.
Just another Wall St bank. At this point, the Charlotte aspect is just for show, a back office remote location.
@ax I doubt the bank is leaving 2BP. They gut renovated and signed a long term lease for the whole building just a few years ago. There is also an underground pavilion which connects 2BP and Grace.
I think they are planning a campus, not just consolidating into OBP. Regardless of this lease, the Akin law firm still is under lease for 5 floors and another tenant has a floor. Other than that, the Bank occupies the rest of the building. It will likely eventually occupy the whole building, but not in the short term unless Akin agrees to leave.
News reports say they want to consolidate from the Grave building and 2 BP. He wants a monolith like Jamie has.
BOA leadership selling off stock before us minions can - dropping the stock price even more just before our stock vests on 15th (plus the 7 days).. so it will be worth much less for us within days.
https://www.tipranks.com/news/bank-of-americas-bac-key-insider-sells-4-4m-in-stock-should-investors-worry
Wonder if this means they’re exiting the Grace Building across the street.
One Bryant Park?
well, f-me.