Bank Renews Office at 55 Broadway

NEW YORK CITY-Signifying its commitment to the Financial District, the Bank of Communications has signed a 10-year renewal of its office space at Broad Street Development’s 55 Broadway. The century-old Chinese bank is 55 Broadway’s largest tenant at 22,000 square feet, BSD principal Daniel Blanco tells GlobeSt.com.

“We’re very pleased that they renewed,” says Blanco, calling it “a real testimony” to the bank’s affiliation with Downtown. “They’re an international company, being out of China, and a terrific tenant. We’re just absolutely delighted that they expressed their preference for the building,” especially in what is increasingly seen as a tenant’s market.

Comprising two full floors at 55 Broadway, also known as One Exchange Plaza, the lease renewal was signed in the high $50s per square foot, according to BSD. Representing BSD in lease negotiations were Blanco, managing director David Israni and associate Mona Huegel. Bank of Communications was represented by Doris Pokras, president of Project Vision Group, Inc.