Bank of America Concentrating NYC Presence in Midtown

By Michael Dabaie

Bank of America Corp. (BAC) said Wednesday it is concentrating its New York City presence in midtown Manhattan.

The new development near its New York City headquarters at One Bryant Park will include the HBO Building and three floors in the Grace Building, the bank said.

When renovations are complete, a large portion of the bank's 13,000 New York City-based employees will occupy these locations, Bank of America said.

Renovations begin this week, according to the bank. Project development is expected to be completed by 2022.

Bank of America said it, partnering with owners Brookfield Property Partners and The Swig Company, will create a LEED project incorporating solar technology and recycled materials as part of the new development.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

June 12, 2019 13:19 ET (17:19 GMT)

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