Bank of America Tower

My colleague Dana Rubinstein broke the news earlier this week that the new One Bryant Park unofficially opened on Monday. Over 300 Bank of America employees took to their desks in the 54-story, Durst-developed skyscraper in midtown.

Above is a photo of the lobby earlier today. Life! At last!

It was a bright new day at One Bryant Park this morning, when Bank of America employees showed up for their first day of work at the crystalline skyscraper on Sixth Avenue, between 42nd and 43rd streets.

The new 54-story skyscraper, also known as the Bank of America tower, unofficially opened for business, after developers secured a temporary certificate of occupancy at 5 p.m. on Friday.  read more »

For the second time in three months, construction-related equipment has fallen from of Douglas Durst’s Bank of America Tower, located at the northeast corner of Bryant Park.

This afternoon, a horizontal post that was supporting netting fell from the 27th floor of the 54-story tower, dropping onto the seventh floor, according to the Department of Buildings. No injuries were reported.  read more »

How much money can it take to build the Bank of America tower at One Bryant Park?

A whole bunch, apparently.

The developer of the building, the Durst Organization, has taken out another $300 million mortgage, public records show, an amount that will be used “to finish the job,” said Durst spokesman Jordan Barowitz. The loan was always planned, Mr. Barowitz said, and should provide enough to bring the building to completion next year.  read more »

One Bryant Park: more glory!

• 'Embrace your inner co-op'--or so says today's Times business section. The gleeful mantra has something to do with an impending real estate crash, and so-called liars' mortgages, and Philip Hubert, and especially Eddie Murphy's SNL character Mr. White. Exactly. (New York Times)
• The $1 billion Bank of America Tower strikes again. Law firm Akin Gump Strauss Hauer & Feld will take six floors at the One Bryant Park building, which brings the 2.1 million-sf tower to a 90% occupancy. Akin Gump will move from their digs at 590 Madison Avenue, paying around $100 per foot for their 15-year deal. (Globe St.)
• Meanwhile, in housing: the chipper chief US economist at Moody's says we're all "underestimating the dark side." Thus when the smoke clears from the real estate bubble, our "euphoria could turn into abject pessimism very quickly." But what if we were never euphoric? (WSJ)
• Meaningless reason to be happy years from now: A 'pedestrian network' running from the Hudson River to the Financial District will be built by 2009. Work has already started, for some reason, on a 100-foot passage connecting the World Financial Center with Ground Zero. (NY1)
• New York has astronomical housing costs (see: euphoria), and so the state must "radically rethink its approach to land use, transportation and school finance." But is the solution state-wide reform, or those utopic little 'transit villages'? The latter. (New York Times)
- Max Abelson  read more »
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