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Bank of America Wins Tenant Battle

NEW YORK CITY-Tenants fighting over sublease space at a time when Manhattan's availability rate is the highest it's been in three years is indeed an anomaly. But it happens.

By Barbara Jarvie | Updated on April 29, 2003

NEW YORK CITY-Bank of America proved to be the winner in the battle over 335 Madison Ave. The tenant-in-place expanded by 25%, committing to 41,720 sf on the seventh floor of the 29-story tower owned by Millstein Properties. The bank has existing premises on floors four through six.

Insignia/ESG’s Richard Economou, Michael Monahan, Silvio Petriello and Mark Ravesloot acted on behalf of sub-landlord, ING Clarion, in the three-year deal valued at an estimated $3.5 million, while John Ryan and Lloyd Desatnick of Jones Lang Lasalle acted for Bank of America.

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