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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.

“We had almost clinched a deal with a prominent law firm for the space,” notes Ravesloot, “but at the last minute the bank decided it wanted to expand. A battle for the space actually ensued, but ownership expressed its strong desire to accommodate its existing tenant. It was rare, and reminiscent of better times, to find tenants competing for the same space in this sublease-heavy market.”

Other tenants at the 1.1-million-sf property, also known as Bank of America Plaza, include ABM Amro, New York Life, Clarion Partners and Towers Perrin.

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