BNY Renews 205K SF Lease At One Boston Place

Marking one of the largest deals in the third quarter, BNY renewed its lease in downtown Boston.

The New York-based bank renewed its 205K SF lease at One Boston Place, according to CBRE. The property, owned by Nuveen and La Caisse, is at 201 Washington St. near Downtown Crossing.

"We welcome the renewal and continuing the relationship with BNY as a tenant," Nuveen Director of Asset and Development Management Brendan Graham said in a statement. "This speaks to the strong demand we continue to see for high quality, Class A spaces like One Boston Place."

BNY confirmed the lease details but declined to comment further. Newmark is listed as the broker for the property.

BNY has been a tenant at the 41-story tower since 1980. The tenant has taken up less space there over the years.

In 2009, the firm renewed its lease for 362K SF across 20 floors of the building. In 2016, it renewed while cutting its space down to 250K SF. That reduced space still marked one of the largest deals of the year, The Boston Globe reported.

As part of the 2016 lease negotiations, the building's owners agreed to revamp the property's amenities, including a new outdoor terrace, conference center, and health and wellness room. 

That same year, BNY announced plans to move some of its employees out of downtown Boston to its Everett facilities in an effort to cut down on real estate costs, the Boston Business Journal reported. 

In September, the investment management firm KKR & Co. relocated to The Chiofaro Co.'s International Place. That deal was also an expansion for KKR to 132K SF.

CORRECTION, OCT. 14, 1 P.M. ET: An earlier version of this story misstated how many of the largest five leases in Boston in the third quarter were renewals. The story has been updated.